DFI (友通資訊) 2025 Q2 法說會簡報
Company Overview
- 公司名稱 (Company Name): DFI (友通資訊)
- 公司標語 (Slogan): Desire for Innovation
Financial Highlights and Key Metrics
1. 合併綜合損益表摘要 (Consolidated Income Statement Summary)
- 單位 (Unit): 新台幣千元 (NT$ Thousands)
- 基本每股盈餘 (Basic Earnings Per Share (NT$)) (a): 以加權平均流通在外股數計算 (Calculated based on the weighted average number of shares outstanding)
- 加權平均流通在外股數 (Weighted Average Shares Outstanding): 114,488 千股 (thousands) (適用於所有期間)
| 項目 (Item) | 2025年第一季 (2025 Q1) | 2025年第二季 (2025 Q2) | 2024年第二季 (2024 Q2) | YTD 2025年1-6月 (YTD Jan-Jun 2025) | YTD 2024年1-6月 (YTD Jan-Jun 2024) |
|---|---|---|---|---|---|
| 銷貨淨額 (Net Sales) | 2,598,900 (100.0%) | 2,900,324 (100.0%) | 2,167,776 (100.0%) | 5,499,224 (100.0%) | 4,073,962 (100.0%) |
| 營業成本 (Operating Costs) | (1,859,949) | (2,141,996) | (1,579,822) | (4,001,945) | (2,960,553) |
| 營業毛利 (Gross Profit) | 738,951 (28.4%) | 758,328 (26.1%) | 587,954 (27.1%) | 1,497,279 (27.2%) | 1,113,409 (27.3%) |
| 營業費用 (Operating Expenses) | (539,546) (-20.8%) | (535,972) (-18.5%) | (468,005) (-21.6%) | (1,075,518) (-19.6%) | (919,204) (-22.6%) |
| 營業淨利 (Operating Income) | 199,405 (7.7%) | 222,356 (7.7%) | 119,949 (5.5%) | 421,761 (7.7%) | 194,205 (4.8%) |
| 營業外收支及費用 (Non-operating Income/Expenses) | (19,716) | (37,707) | (7,033) | (57,423) | (6,353) |
| 稅前淨利 (Income Before Tax) | 179,689 (6.9%) | 184,649 (6.4%) | 112,916 (5.2%) | 364,338 (6.6%) | 187,852 (4.6%) |
| 本期淨利 (Net Income) | 138,713 (5.3%) | 139,785 (4.8%) | 81,185 (3.7%) | 278,498 (5.1%) | 136,016 (3.3%) |
| 本期淨利歸屬於母公司業主 (Net Income Attributable to Owners of the Parent) | 106,558 (4.1%) | 101,589 (3.5%) | 72,884 (3.4%) | 208,147 (3.8%) | 124,834 (3.1%) |
| 基本每股盈餘(NT$) (Basic EPS (NT$)) | $0.93 | $0.89 | $0.64 | $1.82 | $1.09 |
2. 合併資產負債表摘要 (Consolidated Balance Sheet Summary)
- 單位 (Unit): 新台幣千元 (NT$ Thousands)
- 每股淨值 (Net Asset Value Per Share (NT$)): 以流通在外股數計算 (Calculated based on the number of shares outstanding)
| 項目 (Item) | 2025.06.30 | 2024.12.31 | 2024.06.30 |
|---|---|---|---|
| 現金及約當現金 (Cash and Cash Equivalents) | 2,213,479 (19%) | 2,512,850 (21%) | 1,813,138 (20%) |
| 應收票據及帳款(含關係人) (Notes and Accounts Receivable (including related parties)) | 2,127,008 (18%) | 2,391,984 (19%) | 1,985,285 (22%) |
| 存貨 (Inventories) | 2,168,208 (19%) | 2,079,464 (17%) | 1,668,721 (18%) |
| 不動產、廠房及設備 (Property, Plant and Equipment) | 2,220,585 (19%) | 2,287,843 (19%) | 2,329,811 (25%) |
| 總資產 (Total Assets) | 11,717,771 (100%) | 12,338,424 (100%) | 9,225,324 (100%) |
| 流動負債 (Current Liabilities) | 4,127,082 (35%) | 4,224,426 (34%) | 3,304,140 (36%) |
| 非流動負債 (Non-current Liabilities) | 2,050,533 (18%) | 2,276,771 (19%) | 1,145,159 (12%) |
| 權益總計 (Total Equity) | 5,540,156 (47%) | 5,837,227 (47%) | 4,776,025 (52%) |
| 每股淨值 (NT$) (Net Asset Value Per Share (NT$)) | 28.43 | 30.67 | 25.88 |
3. 重要財務指標 (Important Financial Indicators)
| 指標 (Indicator) | 2025.06.30 | 2024.12.31 | 2024.06.30 |
|---|---|---|---|
| 應收帳款週轉天數 (Days Sales Outstanding (DSO)) | 75 | 84 | 88 |
| 存貨週轉天數 (Days Inventory Outstanding (DIO)) | 97 | 125 | 110 |
| 應付帳款週轉天數 (Days Payables Outstanding (DPO)) | 73 | 69 | 64 |
| 營運資金週轉天數 (Cash Conversion Cycle (CCC)) | 99 | 140 | 134 |
| 權益報酬率(年化)(a) (Return on Equity (Annualized)(a)) | 9.8% | 9.1% | 5.6% |
| 流動比率 (Current Ratio) | 163% | 170% | 171% |
| 金融負債比率 (b) (Financial Debt Ratio (b)) | 24% | 27% | 19% |
- (a) 採年化稅後損益/平均權益總額 ((a) Annualized Net Income After Tax / Average Total Equity)
- (b) 金融負債包含長短期借款 ((b) Financial liabilities include long-term and short-term borrowings)
Recent Performance and Results
1. 營收組成 (Revenue Composition)
-
總營收 (Total Revenue):
- 2025年上半年 (H1 2025): 5,499 NT$M
- 2024年上半年 (H1 2024): 4,074 NT$M
-
2025 應用分佈 (2025 Application Breakdown):
- Automation (智動化): 42%
- Embedded (嵌入式): 36%
- Security (安防): 22%
-
2025 區域分佈 (2025 Region Breakdown):
- Asia Pacific (亞太): 49%
- America (美洲): 28%
- EMEA (歐洲、中東、非洲): 23%
-
2025 產品分佈 (2025 Product Breakdown):
- OT Service (營運技術服務): 42%
- Computer on Module (電腦模組): 24%
- AI Security (AI安防): 21%
- Computer in Box (箱型電腦): 9%
- Computer with Panel (面板電腦): 4%
-
2024 應用分佈 (2024 Application Breakdown):
- Embedded (嵌入式): 41%
- Automation (智動化): 36%
- Security (安防): 23%
-
2024 區域分佈 (2024 Region Breakdown):
- Asia Pacific (亞太): 58%
- EMEA (歐洲、中東、非洲): 22%
- America (美洲): 20%
-
2024 產品分佈 (2024 Product Breakdown):
- OT Service (營運技術服務): 36%
- Computer on Module (電腦模組): 26%
- AI Security (AI安防): 24%
- Computer in Box (箱型電腦): 13%
- Computer with Panel (面板電腦): 1%
Future Outlook and Guidance
營運展望 (Operations Outlook)
DFI 致力於整合全球業務與在地製造優勢，攜手專家夥伴加速客戶 AI 落地。
戰略舉措與計劃 (Strategic Initiatives and Plans)
1. 友通的邊緣 AIoT 商業拓展策略 (DFI's Edge AIoT Business Expansion Strategy)
- 核心策略 (Core Strategy): 整合全球業務與在地製造優勢，攜手專家夥伴加速客戶 AI 落地。
- 友通專注應用領域 (DFI Focused Application Areas):
- 工廠智動化 (Factory Automation)
- 嵌入式娛樂 (Embedded Entertainment)
- 海事/防衛 (Marine/Defense)
- 智慧醫療 (Smart Healthcare)
- 智慧交通 (Smart Transportation)
- 能源 (Energy)
- 生態系夥伴 (Ecosystem Partners):
- AI 硬體商 (AI Hardware Vendor)
- AI 軟體商 (AI Software Vendor)
- AI 模型訓練商 (AI Model Training Vendor)
- AI 部署服務商 (AI Deployment Service Provider)
- 鏡頭/模組廠 (Camera/Module Manufacturer)
- 產業專家 (Industry Expert)
- 產學合作研究機構 (Industry-Academia Collaboration Research Institution)
2. 高門檻、高價值: DFI 醫療市場佈局與全球機會 (High Threshold, High Value: DFI Medical Market Layout and Global Opportunities)
- Rich System Integration Capability (豐富系統整合能力):
- Electronic/Power Design (電子/電源設計)
- Stylish ID and Antibacterial Mechanical Design (時尚外觀設計與抗菌機械設計)
- Superior Thermal Design (卓越散熱設計)
- SW design (FPGA/BIOS/MCU) (軟體設計 (FPGA/BIOS/MCU))
- Comprehensive Quality Assurance (全面品質保證):
- Thermal Simulation and Material Selection (熱模擬與材料選擇)
- High Speed Signal Simulation and Measurement (高速訊號模擬與測量)
- Functionality/Reliability/Environment validation (功能/可靠度/環境驗證)
- EMC & Safety verification (電磁相容性與安全驗證)
- Various Vertical Domain Experience (多樣垂直領域經驗):
- IEC/EN60601-1 (4th ed.) (國際電工委員會/歐洲標準 EN60601-1 (第四版))
- CE, FCC Class B (歐盟CE認證, 美國FCC B類認證)
- Medical-Grade Anti-bacteria Finish (醫療級抗菌表面處理)
- Ingress Protection IP65/IP67 (防護等級 IP65/IP67)
- Global Customer Service (全球客戶服務):
- Global office - Taiwan, USA, Europe, India, Korea, Japan, China, Vietnam (全球辦事處 - 台灣、美國、歐洲、印度、韓國、日本、中國、越南)
- Standard Product (COTS) (標準品 (商用現成產品))
- Quickly help customers find out solutions (快速協助客戶找到解決方案)
- Flexible Manufacturing Capability (彈性製造能力):
- Low to medium volume manufacturing (低至中量生產)
- Automated Storage/Retrieval System (自動倉儲/檢索系統)
- Full supply chain management (完整供應鏈管理)
3. 友通攜手夥伴打造 融合 AI 與 ESG 的跨域工業解決方案 (DFI Partners to Create Cross-Domain Industrial Solutions Integrating AI and ESG)
- 願景 (Vision): 從邊緣 AI 即時偵測告警，到大數據驅動的碳排、能耗與人員安全掌握，全方位守護營運風險，廣泛應用於智慧製造、能源等領域。
- 解決方案組成 (Solution Components):
- DFI Systems for safety detection at the edge (用於邊緣安全檢測的 DFI 系統)
- On-Premises DFI Edge Server (地端 DFI 邊緣伺服器) 或 Public Cloud (公有雲)
- Smart Mining Control Center (智慧礦場控制中心)
- Safety Alert (安全警報)
- ESG Regulation (ESG 法規遵循)
4. 友通攜手夥伴打造智慧交通解決方案 (DFI Partners to Create Smart Transportation Solutions)
- 願景 (Vision): 高效強固邊緣運算趨動智動化創新，可應用於城市交通領域。
- 夥伴綜效 (Partnership Synergy):
- AI 軟體及整合專家 (AI Software & Integration Expert): Parking Solution Leader in Singapore (新加坡停車解決方案領導者)
- 集團綜效: 戶外強固面版 (Group Synergy: Outdoor Rugged Panel): Rugged Display Solutions Provider (強固顯示解決方案供應商)
- 友通邊緣算力 (DFI Edge Computing Power): Edge AIoT Computing Platform Provider (邊緣 AIoT 運算平台供應商)
- 系統架構 (System Architecture):
- HQ Admin PC (總部管理電腦)
- Parking Service Center (停車服務中心) (Internet/Intranet)
- Wayfinding Service (導航服務)
- Parking Self-Service Kiosk (停車自助服務機)
- Self-Check Out Kiosk (自助結帳機)
- License Plate Recognition Service (車牌辨識服務)
- Ticketing Kiosk (票務機)
5. 集團綜效: 整合軟硬體的商用無人機方案 (Group Synergy: Integrated Hardware and Software Commercial Drone Solutions)
- 展示 (Exhibition): 友通資訊於 2025 年 COMPUTEX 與集團聯合展示整合軟硬體的無人機方案。
- 特點 (Features):
- 小巧高效: OSM-QRB812 驅動的無人機智能平台。
- 融合先進硬軟體技術、智能避障與長距離傳輸能力，確保空中作業順暢，並成功吸引海外客戶洽談。
- 關鍵技術/功能 (Key Technologies/Functions):
- Integrated Hardware and Software (軟硬體整合)
- Intelligent Obstacle Avoidance (智能避障)
- Long-Distance Transmission (長距離傳輸)
Products, Services & Technology
1. 友通邊緣 AIoT 產品線 (DFI Edge AIoT Product Line)
- Motherboards / SoMs (主機板 / 系統模組)
- Edge AI Systems (邊緣 AI 系統)
- Edge AI Servers (邊緣 AI 伺服器)
- Panel PCs & Displays (面板電腦與顯示器)
- Modules (模組)
2. 醫療市場產品 (Medical Market Products)
- Diverse, Premium-Grade Motherboard Form Factors (COTS/ODM/OEM) (多樣化、優質主機板外形尺寸 (COTS/ODM/OEM))
- Fast Delivery of Medical-Grade Systems and Monitors (COTS/ODM/OEM) (快速交付醫療級系統和顯示器 (COTS/ODM/OEM))
3. 商用無人機方案 (Commercial Drone Solutions)
- 產品名稱 (Product Name): Open Standard Module QRB812
- 技術規格 (Technical Specifications):
- Powered by a Low-Power Qualcomm Processor (由低功耗高通處理器驅動)
- Mini Size: 45 x 45 mm (迷你尺寸: 45 x 45 毫米)
- High Expansion Flexibility (高擴展彈性)
- Supports Up to 6 MIPI-CSI for Drone Camera (支援多達 6 個 MIPI-CSI 用於無人機相機)
- 技術應用 (Technology Application): Powered by Intelligent Software and DFI's OSM-QRB812 Computing (由智能軟體和 DFI 的 OSM-QRB812 運算提供動力)