僑威科技法人說明會 (Channel Well Technology Investor Conference) [3078] 2025Q1 法說會簡報
Company Overview
Headquarter
- Location: 台灣桃園市桃園區 (Taoyuan Dist., Taoyuan City, Taiwan)
- HQ focuses on:
- 營運管理 (Operating Administration)
- 行銷業務 (Marketing & Sales Business)
- 策略採購 (Procurement Department)
- 研發設計 (R&D)
- 安規驗證 (Safety Certification)
- 資安管理 (Information Safety Control)
Manufacture Plant
-
中國 (China):
- 廣州貴冠&嘉葵 (CWT&ChiaKwei Guangzhou): 電源產品 (Power product)
- 江西萬載昌聖 (Power Plus Wanzail Jiangxi): 零組件產品 (Component product)
-
越南 (Vietnam):
- 僑威越南北寧 (Power Plus BacNinch): 電源產品 (Power product)
- 僑威越南河內 (CWT Hanoi): 零組件產品 (Component product)
Main Products
-
Power:
- Desk PC Power
- IPC/IPS Power
- Open Frame
- POE Modular
- POE Injector
- Adapter & Charger
- Wireless Charging
-
Component:
- 磁性元件 (Magnetic Components)
- 連接線 (Connected Wire)
- 金屬沖壓烤漆 (Metal Stamping Paint)
- 塑膠成型 (Plastic Mold)
Financial Highlights
Profit Profile (1Q2025 Consolidated FS)
Unit: NT$thousand (單位:台幣仟元)
| 項目/期間 (Item/Period) | 1Q 2025 金額(Amount) | 1Q 2025 % | 1Q 2024 金額(Amount) | 1Q 2024 % | 同期比較(YoY) 增減金額(Amt) | 同期比較(YoY) 增減% |
|---|---|---|---|---|---|---|
| 營業收入淨額 (Operating Revenues) | 2,838,344 | 100% | 2,002,775 | 100% | 835,569 | 42% |
| 營業成本 (Costs of Revenue) | 2,119,064 | 75% | 1,565,977 | 78% | 553,087 | 35% |
| 營業毛利 (Gross Profit) | 719,280 | 25% | 436,798 | 22% | 282,482 | 65% |
| 營業費用合計 (Total Operating Expenses) | 226,727 | 8% | 205,446 | 10% | 21,281 | 10% |
| 營業淨利 (Incomes from Operating) | 492,553 | 17% | 231,352 | 12% | 261,201 | 113% |
| 營業外收支 (Non-operating incomes and expenses): | ||||||
| 利息收入 (Interest Income) | 22,682 | 1% | 42,685 | 2% | -20,003 | -47% |
| 財務成本 (Finance costs) | 0 | -5,015 | -11,391 | -58% | ||
| 外幣兌換淨利益(損失) (Gain (Loss) on foreign currency exchange, net) | 33,436 | 1% | 167,596 | 8% | -134,160 | -80% |
| 其他合計 (Others, net) | 12,784 | 1% | 14,569 | 1% | -1,785 | -12% |
| 營業外支出合計 (Total Non-operating incomes and expenses) | 68,902 | 3% | 219,835 | 11% | -150,933 | -69% |
| 稅前淨利 (Income before Income Tax) | 561,455 | 20% | 451,187 | 23% | 110,268 | 24% |
| 所得稅費用 (Income Tax Expense) | -140,163 | -5% | -111,793 | -6% | -28,370 | 25% |
| 本期淨利 (Net Income) | 421,292 | 15% | 339,394 | 17% | 81,898 | 24% |
| 每股盈餘 (EPS (Unit: NT$)) | 1.85 | 1.49 | 0.36 | 24% |
Total Assets, Liabilities & Equity (1Q2025 Consolidated FS)
Unit: NT$thousand (單位:台幣仟元)
| 項目/期間 (Item/Period) | 2025.3.31 金額(Amount) | 2025.3.31 % | 2024.12.31 金額(Amount) | 2024.12.31 % | 2024.3.31 金額(Amount) | 2024.3.31 % |
|---|---|---|---|---|---|---|
| 現金及約當現金 (Cash and cash equivalents) | 3,886,848 | 34 | 3,450,712 | 34 | 4,691,410 | 42 |
| 按攤銷後成本衡量之金融資產-流動 (Current financial assets at amortised cost) | 631,335 | 6 | 407,618 | 4 | 299,645 | 3 |
| 應收票據及帳款淨額 (Notes receivable and accounts receivable, net) | 2,997,303 | 27 | 2,554,303 | 25 | 2,393,575 | 22 |
| 存貨 (Inventories) | 1,316,861 | 12 | 1,254,960 | 13 | 1,290,142 | 12 |
| 流動資產總計 (Total current assets) | 9,019,185 | 80 | 7,834,905 | 78 | 8,791,012 | 80 |
| 不動產、廠房及設備 (Property, plant and equipment) | 1,973,471 | 18 | 1,973,629 | 20 | 1,887,039 | 17 |
| 資產總計 (Total assets) | 11,266,685 | 100 | 10,090,179 | 100 | 11,025,142 | 100 |
| 短期借款 (Current borrowings) | 1,030,000 | 9 | ||||
| 應付帳款 (Accounts payable) | 2,311,418 | 21 | 1,814,185 | 18 | 1,496,652 | 24 |
| 流動負債總計 (Total current liabilities) | 4,048,655 | 36 | 2,494,734 | 25 | 4,491,450 | 41 |
| 非流動負債 (Non-current liabilities) | 644,622 | 6 | 595,415 | 6 | 555,087 | 5 |
| 負債總計 (Total liabilities) | 4,693,277 | 42 | 3,090,149 | 31 | 5,046,537 | 46 |
| 股本 (Common stock) | 2,273,911 | 20 | 2,273,911 | 22 | 2,273,911 | 20 |
| 資本公積 (Capital surplus) | 214,554 | 2 | 214,286 | 2 | 214,286 | 2 |
| 保留盈餘 (Retained earnings) | 3,941,634 | 35 | 4,429,906 | 44 | 3,488,979 | 32 |
| 其他權益 (Other equity) | 143,309 | 1 | 81,659 | 1 | 1,429 | |
| 權益總計 (Total equity) | 6,573,408 | 58 | 7,000,030 | 69 | 5,978,605 | 54 |
| 負債及權益總計 (Total liabilities and equity) | 11,266,685 | 100 | 10,090,179 | 100 | 11,025,142 | 100 |
Financial Ratios (財務比率)
| 項目 (Item) | 1Q 2025 | 1Q 2024 | 升(降)百分點 (percentage point) | Year 2024 |
|---|---|---|---|---|
| 營業毛利率 (Gross Profit Ratio) | 25% | 22% | 上升(↑)3 point | 24% |
| 營業費用率 (Operating Expenses Ratio) | 8% | 10% | 下降(↓)2 point | 10% |
| 純益率 (Net Income Ratio) | 15% | 17% | 下降(↓)2 point | 15% |
| 流動比率 (Current Ratio) | 223% | 196% | 上升(↑) 27 point | 314% |
| 速動比率 (Quick Ratio) | 186% | 166% | 上升(↑) 20 point | 260% |
| 資產報酬率 (Return on Total Assets) | 4% | 3% | 上升(↑)1 point | 12% |
| 權益報酬率 (Return on Equity) | 6% | 5% | 上升(↑)1 point | 19% |
Recent Performance and Results
Product Mix (Sales Amount %)
-
2024 Year Sales:
- Desk PC Power Supply: 79%
- Other Power: 20%
- Others: 1%
-
2023 Year Sales:
- Desk PC Power Supply: 84%
- Other Power: 15%
- Others: 1%
-
1Q 2025 Sales:
- Desk PC Power Supply: 84%
- Other Power: 15%
- Others: 1%
-
1Q 2024 Sales:
- Desk PC Power Supply: 84%
- Other Power: 15%
- Others: 1%
Sales Region (Sales Amount %)
-
2024 Year Sales:
- Asia (note): 42%
- America: 31%
- Europe: 26%
- Others: 1%
-
2023 Year Sales:
- Asia (note): 57%
- America: 29%
- Europe: 13%
- Others: 1%
-
1Q 2025 Sales:
- Europe: 35%
- Asia (note): 33%
- America: 31%
- Others: 1%
-
1Q 2024 Sales:
- Asia (note): 46%
- America: 29%
- Europe: 23%
- Others: 2%
(Note): Some customers have set up their warehouse in Asia.
Dividend (股利分配)
EPS & Dividend 2020-2024
Unit: NT$ (單位:台幣元)
| 項目 (Item) | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| 每股盈餘 (EPS) | 4.55 | 4.3 | 3.13 | 6.79 | 5.62 |
| 現金股利 (Cash Dividend) | 3.15 | 3.25 | 2.35 | 4.80 | 4.00 |
| 股利分配比率 (Dividend Payout Ratio) | 69.23% | 75.58% | 75.08% | 70.69% | 71.17% |
Capital Expenditures
Unit: NT$'000 (單位:台幣千元)
| 項目 (Item) | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| 資本支出 (Capital expenditures) | 322,206 | 291,385 | 343,815 | 192,624 | 222,895 |
Closing
- Slogan: Power Up with CWT
- Website: http://www.cwt.com.tw