LITE-ON Technology Corporation (2301) 2025 Q2 法說會簡報

Company Overview

Slogan: Powering a Bright and Sustainable Future Together (永續共好·光耀未來)

Safe Harbor Notice: LITEON Technology's statement of its current expectations are forward-looking statements which are subject to significant risks and uncertainties. Actual results may differ materially from those contained in any forward-looking statements. This material is prepared in accordance with International Financial Reporting Standards (IFRS).

Business Segments (三大事業部門)

• 光電部門 (Opto-electronics Business Group):

  • 光電半導體 (Opto-semiconductors)
  • 汽車電子 (Automotive Electronics)
  • 道路智慧化系統 (Smart Roadway Systems)

• 雲端及物聯網部門 (Cloud & AIoT Business Group):

  • 資料中心 (Data Centers)
  • 伺服器 (Servers)
  • 網通設備 (Networking Equipment)
  • AI、物聯網 (AI, IoT)
  • 智慧裝置 (Smart Devices)
  • 智慧影像方案 (Smart Image Solutions)

• 資訊及消費性電子部門 (Information & Consumer Electronics Business Group):

  • 筆電 (Notebooks)
  • 工作站 (Workstations)
  • 平板電腦 (Tablets)
  • 桌上型電腦 (Desktop PCs)
  • 遊戲機 (Gaming Consoles)
  • 消費性電子 (Consumer Electronics)

Financial Highlights and Key Metrics

2025/06/30 Robust Balance Sheet (Unit: NT$ M)

Financial Indicators

Recent Performance and Results

2Q25 Quarterly Results (Unit: NT$ M)

• 營業收入 (Sales):

  • Q2 2024: 33,285
  • Q1 2025: 36,417
  • Q2 2025: 40,421 (YoY: 21%)

• 營業毛利 (Gross Profit):

  • Q2 2024: 7,387 (GP%: 22.2%)
  • Q1 2025: 8,222 (GP%: 22.6%)
  • Q2 2025: 8,942 (GP%: 22.1%) (YoY: 21%)

• 營業利益 (Operating Profit):

  • Q2 2024: 3,281 (OP%: 9.9%)
  • Q1 2025: 3,675 (OP%: 10.1%)
  • Q2 2025: 3,727 (OP%: 9.2%) (YoY: 14%)

• 營業費用 (OPEX):

  • Q2 2024: 4,106 (OPEX%: 12.3%)
  • Q1 2025: 4,546 (OPEX%: 12.5%)
  • Q2 2025: 5,215 (OPEX%: 12.9%) (YoY: 27%)

• OIOE (Other Income and Other Expenses):

  • Q2 2024: 802
  • Q1 2025: 994
  • Q2 2025: 536 (YoY: -33%)

• 母公司稅後淨利 (Net profit to Parent):

  • Q2 2024: 3,115 (EPS: NT$ 1.36)
  • Q1 2025: 3,456 (EPS: NT$ 1.51)
  • Q2 2025: 3,155 (EPS: NT$ 1.39) (YoY: 1%)

1H25 Results (Unit: NT$ M)

• 營業收入 (Sales):

  • 1H 2024: 62,061
  • 1H 2025: 76,838 (YoY: 24%)

• 營業毛利 (Gross Profit):

  • 1H 2024: 13,235 (GP%: 21.3%)
  • 1H 2025: 17,164 (GP%: 22.3%) (YoY: 30%)

• 營業利益 (Operating Profit):

  • 1H 2024: 5,512 (OP%: 8.9%)
  • 1H 2025: 7,402 (OP%: 9.6%) (YoY: 34%)

• 營業費用 (OPEX):

  • 1H 2024: 7,723 (OPEX%: 12.4%)
  • 1H 2025: 9,762 (OPEX%: 12.7%) (YoY: 26%)

• OIOE (Other Income and Other Expenses):

  • 1H 2024: 1,700
  • 1H 2025: 1,529 (YoY: -10%)

• 母公司稅後淨利 (Net profit to Parent):

  • 1H 2024: 5,503 (EPS: NT$ 2.40)
  • 1H 2025: 6,611 (EPS: NT$ 2.89) (YoY: 20%)

2Q25 Segments Results (Unit: NT$ M)

• Overall Sales (NSB YoY): 21%

  • 2024 Q2 Revenue Breakdown:

    • Opto-electronics: 7,178 (22% of total)
    • Cloud/AIoT: 12,188 (36% of total)
    • IT/CE: 13,919 (42% of total)

  • 2025 Q2 Revenue Breakdown:

    • Opto-electronics: 7,559 (19% of total)
    • Cloud/AIoT: 16,728 (41% of total)
    • IT/CE: 16,134 (40% of total)

• Overall Operating Profit (OP YoY): 14%

  • 2024 Q2: 3,281
  • 2025 Q2: 3,727

• Cloud/AIoT Segment:

  • Sales (NSB YoY): 37%

    • 2024 Q2: 12,188 (36% of total revenue)
    • 2025 Q2: 16,728 (41% of total revenue)

  • Operating Profit (OP YoY): 30%

    • 2024 Q2: 1,439
    • 2025 Q2: 1,869

• Opto-electronics Segment:

  • Sales (NSB YoY): 5%

    • 2024 Q2: 7,178 (22% of total revenue)
    • 2025 Q2: 7,559 (19% of total revenue)

  • Operating Profit (OP YoY): 42%

    • 2024 Q2: 522
    • 2025 Q2: 739

• IT/CE Segment:

  • Sales (NSB YoY): 16%

    • 2024 Q2: 13,919 (42% of total revenue)
    • 2025 Q2: 16,134 (40% of total revenue)

  • Operating Profit (OP YoY): 3%

    • 2024 Q2: 1,400
    • 2025 Q2: 1,436

Revenue and Profitability Growth Since 2021

• Revenue (NT$ Mn) & Profitability:

  • 2021: 164,828 (OP%: 7.9%, GP%: 18.5%)
  • 2022: 173,456 (OP%: 8.7%, GP%: 19.2%)
  • 2023*: 148,333 (OP%: 9.8%, GP%: 22.0%)
  • 2024**: 137,134 (OP%: 9.4%, GP%: 21.6%)
  • 1H 2025: 76,838 (OP%: 9.6%, GP%: 22.3%)
    • Revenue YoY +24%
    • Operating Profit YoY +34%
  • * Excluding Image Business Group (不含影像事業部)
  • ** Discontinued some consumer and OEM/ODM products (停產部分消費性及代工產品)

• 1H25 Revenue Share:

  • 雲端及物聯網部門 (Cloud & AIoT Business Group): 42% (NT$32.3 Billion)
  • 光電部門(含車電) (Opto-electronics Business Group (incl. Automotive Electronics)): 19%
  • 資訊及消費性電子部門 (Information & Consumer Electronics Business Group): 39%
  • Cloud & AIoT + Opto-electronics: 61%

• 1H21 Revenue Share:

  • 雲端及物聯網部門 (Cloud & AIoT Business Group): 30%
  • 光電部門(含車電) (Opto-electronics Business Group (incl. Automotive Electronics)): 21%
  • 資訊及消費性電子部門 (Information & Consumer Electronics Business Group): 49%
  • Cloud & AIoT + Opto-electronics: 51% (NT$23.6 Billion)

Future Outlook and Guidance

2025年第三季展望 (2025 Q3 Outlook)

• 核心事業將展現成長,主要動能來自:
  • 高規格 AI 電能管理系統,含電源、儲能及整合式機櫃出貨持續成長。
  • 高階光耦在新能源與工控市場回溫,Mini LED 應用於新一代電競 PC 與手機。
  • 高階電源:遊戲機與電競出貨穩定成長,低軌衛星電源表現尤為強勁。

Strategic Initiatives and Plans

策略與佈局 (Strategies and Layout)

• 因應匯率變動,落實技術優勢、成本優化、營運效率與財務避險等策略,強化客戶對光寶企業價值的認同與信賴。
• 加速全球化布局,擴充產能至台灣、越南與北美,以提升全球營運效能與規模,打造具彈性與韌性的供應鏈管理機制。

Board Resolutions (董事會決議)

• 董事會通過配發2025年第二季每股現金股利NT$2元。
• 2025年6月9日完成庫藏股回購24,219仟股,占已發行股份1.03%,將註銷減資以維護股東權益,強化公司治理。

Products, Services & Technology

• Core Cloud Computing Business: Strong demand momentum for BBU and 33kW Power Shelf, with demand continuing to increase.
• Advanced Power Solutions: 72kW Power Shelf, Side Power Rack, and Liquid to Air cooling systems have entered customer validation phase, which will contribute to shipment growth in the second half of the year.
• AI Data Center Solutions: Showcased 800V HVDC high-voltage DC power supplies, SiC and GaN high-efficiency power racks, modular liquid cooling systems at major industry events.
• Opto-semiconductors: Ongoing improvements in core applications of visible Mini LED and invisible light.
• IT Business Group: Increased focus on high-end products, growing shipments of low-earth orbit satellite power supplies and smart input devices.