FocalTech (敦泰電子) 2025 Q2 法說會簡報
Company Overview
- Company Name: FocalTech (敦泰電子)
- Stock Code: 3545
- Slogan: The world leader in human machine interface solutions
- Date of Conference: 2025/08/08
Disclaimer
- This presentation may contain "forward-looking statements" regarding future results of operations, financial condition, and business prospects.
- Actual outcomes can vary due to factors such as market demand, price fluctuations, competition, supply chain issues, global economic conditions, and exchange rate fluctuations.
- FocalTech undertakes no obligation to update these statements for events or circumstances occurring after the release date.
Agenda
- 2025 Q2 Result Summary
- Future Outlook
- New Products
- Q&A
Financial Highlights
Recent Performance and Results (2025 Q2)
2025 Q2 Results Summary (I)
- Market Recovery: Notable recovery in the consumer market in China, stimulated by government programs.
- Product Sales: Strong sales for both touch controller and display products.
- Revenue: Q2 revenue reached NT$3.05 billion, a QoQ increase of 2% and YoY increase of 2.5%.
2025 Q2 Results Summary (II)
- Gross Margin: Overall gross margin maintained at 25.1% despite the Taiwan dollar's appreciation affecting it negatively.
- Net Profit: Net profit of NT$77M, leading to an EPS of NT$0.36 for the quarter, significantly down from the previous quarter due to currency effects.
2025 Q2 Income Statement (Unit: NT$ Million)
| Item | 25' Q2 | 25' Q1 | QoQ | 24' Q2 | YoY |
|---|---|---|---|---|---|
| Revenue/營業收入 | 3,052 | 2,993 | 2.0% | 2,977 | 2.5% |
| Gross Profit/營業毛利 | 765 | 805 | -4.9% | 722 | 6.0% |
| Gross Margin/營業毛利率 | 25.1% | 26.9% | ↓1.8% | 24.3% | 10.8% |
| Operating Expense/營業費用 | 759 | 754 | 0.6% | 721 | 5.3% |
| Operating Income/營業淨利 | 6 | 50 | -87.5% | 1 | 504.4% |
| Non Operating Income/營業外收入 | 63 | 110 | -42.7% | 105 | -40.0% |
| Profit before Tax/稅前淨利 | 69 | 160 | -56.8% | 106 | -34.7% |
| Profit after Tax/稅後淨利 | 77 | 171 | -55.1% | 106 | -27.7% |
| EPS(Basic)/每股盈餘(基本) (Unit: NTD) | 0.36 | 0.80 | 0.51 |
2025 Q2 Balance Sheet (Unit: NT$ Million)
| Item | 25' Q2 | 25' Q1 | QoQ | 24' Q2 | YoY |
|---|---|---|---|---|---|
| Cash & Market Securities/現金及金融資產 | 7,046 | 8,172 | -13.8% | 9,954 | -29.2% |
| Accounts Receivable/應收帳款 | 753 | 926 | -18.7% | 1,003 | -25.0% |
| Inventory/存貨 | 2,953 | 3,323 | -11.1% | 2,871 | 2.9% |
| Other Current Assets/其他流動資產 | 220 | 280 | -21.3% | 320 | -31.0% |
| Non Current Asset/非流動資產 | 4,002 | 4,449 | -10.1% | 5,240 | -23.6% |
| Total Assets/資產總計 | 14,974 | 17,150 | -12.7% | 19,388 | -22.8% |
| Current Liabilities/流動負債 | 4,459 | 5,235 | -14.8% | 5,494 | -18.8% |
| Non Current Liabilities/非流動負債 | 1,044 | 1,535 | -32.0% | 4,246 | -75.4% |
| Owner's Equity/股東權益 | 9,471 | 10,380 | -8.8% | 9,648 | -1.8% |
| Total Liabilities and Owners' Equity/負債與權益 | 14,974 | 17,150 | -12.7% | 19,388 | -22.8% |
| Net Worth per share/每股淨值 (Unit: NTD) | 43.54 | 47.09 | 43.72 |
Outlook & Strategy
Future Outlook and Guidance
Future Outlook (I)
- Q3 Revenue Growth: Expectations of continued sales growth.
- Drivers: New high-valued smartphone releases and ongoing government domestic consumption policies in China.
- Uncertainties: Revenue growth is anticipated amid uncertainty regarding exchange rates and tariffs.
Future Outlook (II)
- Display Products: New display products for tablets and industrial applications expected to ramp up production, optimizing product mix.
- Touch Controllers: Increased demand for AMOLED cellphones anticipated to persist into Q3, with industry shortages affecting urgent orders.
Future Outlook (III)
- Automotive Products: Continued penetration into automotive applications, adopted by major international brands leading to steady business growth.
- Key Success: Partnerships with notable brands such as XPENG and Leadmotor.
- Product Technology: Utilization of IDC (TDDI) technology to enhance visual experience and performance in automotive settings.
Products, Services & Technology
- Product Categories:
- Touch controller products
- Display products
- Automotive products
- Specific Product Names/Technologies:
- IDC (TDDI): Integrated Driver and Controller products for in-cell LCD panels, enhancing optical quality and display aesthetics.
- Applications:
- Smartphones (AMOLED)
- Tablets
- Industrial applications
- Automotive applications (e.g., XPENG, Leadmotor)
- Technical Concepts:
- Human Machine Interface (HMI) solutions
- Narrow bezels
- Light transmittance
Key Data Points & Metrics
- Revenue (2025 Q2): NT$3.05 billion
- QoQ Revenue Growth: 2%
- YoY Revenue Growth: 2.5%
- Gross Margin (2025 Q2): 25.1%
- Net Profit (2025 Q2): NT$77 million
- EPS (Basic) (2025 Q2): NT$0.36
- Net Worth per share (2025 Q2): NT$43.54
Strategic Initiatives and Plans
- Product Mix Optimization: Focus on improving product mix, especially for new display products.
- Automotive Market Penetration: Strengthening presence in the automotive sector with IDC (TDDI) products.
- Domestic Consumption Boost: Harnessing government policies in China to enhance consumer market sales.