Kintech Electronics Co., Ltd. (慶生電子股份有限公司) 2025 H1 法說會簡報

• 時間: 2025年上半年

Company Overview

About Kintech Electronics

Kintech Electronics Co., Ltd. (慶生電子股份有限公司) specializes in manufacturing printed circuit boards (PCBs).

Company History

• Establishment: Founded in October 1984 in Pingzhen, Taoyuan.
• Key Milestones:
  • November 1993: Relocation to Zhongli Industrial Park.
  • January 2000: Established the second factory.
  • July 2004: Merged two old factories into a new facility at Songjiang North Road.
• Capital: NT$350 million.
• Public Listing: Listed on the OTC market in February 2003.

Kintech's Advantages

1. High-End Multi-Layer Production:
   • Specializes in producing 8L and above multi-layer boards.
   • Focuses on small batches, high variety, quick turnaround, and high delivery rates.
   • Monthly production capacity of 1500 models.
2. In-House Production Line:
   • Full-process production control from engineering design to final testing.
   • Ensures highest quality and punctual delivery.
3. Advanced Technology:
   • HDI multi-layer boards, fine lines, non-wired gold fingers, and back drill processes.
   • Capabilities include Anylayer blind/buried vias and 5-stage 4-press configurations.
   • Minimum inner layer line width of 2/2 mil.

Capacity

• Sales Volume: NT$80 million/month.
• Models: 1500 models/month.
• On-Time Delivery Rate: 99%.
• Monthly Production Capacity: 200,000 ft².

Products, Services & Technologies

Manufacturing Capabilities

Capability (I)

• Board Size: Maximum 540 x 610 mm.
• Layer Count: Up to 30 layers.
• Small Pitch: Micro BGA pitch of 0.4 mm.
• Min Drill Diameter: 0.15 mm.
• Aspect Ratios: Plating aspect ratio up to 14:1.
• Impedance Tolerance: Best ±8%, Normal ±10%.

Capability (II)

• Drill-to-Drill Clearance:
  • Micro-via to Micro-via: 0.25 mm.
  • Buried-via to Micro-via: 0.25 mm.
• Drill-to-Metal Clearance:
  • Through-via to conductor: 0.152 mm.

Capability (III) - Line Width & Space

• Inner Layer:
  • 1/3 oz: 0.050 mm (1.96 mil).
  • Outer Layer: Up to 2 oz + plating: 0.127 mm (5 mil).
• Pad Forming Capability:
  • Pad size (MD, SMD): Minimum 0.200 mm.

Capability (IV) - Solder-mask & Surface Finishes

• Solder-mask Colors: Green (standard/matt), Blue, Yellow, Red, Black, White.
• Silkscreen Colors: White, Yellow.
• Surface Finishes:
  • Single finishes like ENIG, ENEPIG, Immersion Tin/Silver, OSP, LF HASL/HASL.
  • Selective finishes: OSP + ENIG or Hard Gold + ENIG.

Process Equipment

• Key machinery includes Laser Direct Imaging (LDI), Vacuum Etching Line, automatic stack-up machine, X-Ray drilling machine, and Laser Direct Drilling (LDD).
• Advanced capabilities for testing (e.g., moving probe testers) and inspection (e.g., automated visual inspection).

Certifications

International Certifications

• ISO 9001:2015: Valid until May 27, 2027.
• ISO 14001:2015: Valid until January 8, 2027.
• ISO 45001:2018: Valid until January 8, 2027.
• ISO 14064-1:2018 (GHG Verification):
  • Total Emissions: 6,316.888 metric tons CO2e in 2023.

Financial Highlights

Revenue and Profit Trends (2020-2024)

• Net Revenue:
  • 2020: NT$745 million.
  • 2021: NT$750 million.
  • 2022: NT$590 million.
  • 2023: NT$303 million.
  • 2024: NT$274 million.
• Net Profit:
  • 2020: NT$116 million (EPS: 3.24).
  • 2021: NT$103 million (EPS: 2.95).
  • 2022: NT$35 million (EPS: 0.8).
  • 2023: -NT$138 million (EPS: -4.04).
  • 2024: -NT$125 million (EPS: -3.69).

2025 H1 Financial Review

• Net Revenue: NT$144 million.
• Net Loss: -NT$66.624 million.
• Basic Loss Per Share: -1.9.

Sustainability Focus

• 2023 Greenhouse Gas Emissions:
  • Direct Emissions: 263.8498 metric tons CO2e.
  • Energy Indirect Emissions: 4,949.8800 metric tons CO2e.
  • Other Indirect Emissions: 1,103.1583 metric tons CO2e.