APEX 泰鼎 (4927) 2025 Q2 法說會簡報

• 時間: October 2025

Company Overview

• 公司名稱: APEX 泰鼎 (Apex International Co., Ltd.)
• 股票代號: 4927 (Taiwan Stock Exchange)
• 成立日期: 2001年9月 (September 2001)
• 土地面積: 282,005M² (約166萊, approx. 166 Rai)
• 實收資本額: 新台幣 26億元 (NT$ 2.6 billion)
• 員工人數: 7,500 (截至2025年9月)
• 上市日期:
  • 上櫃日期: 2011.10.18
  • 台灣證券交易所上市日期: 2015.09.08
• 產品: 印刷電路板 (Printed Circuit Boards, PCBs)
• 研發設施: 2019年設立研發中心及內部測試實驗室。

Factory Information

• 泰鼎工廠:
  • A1: 2L~8L (2 to 8 layers)
  • A2: 4L~12L (4 to 12 layers)
  • A3: 8L~20L, HDI (High-Density Interconnect)
  • Apex S: 1L (1 layer)
  • Apex 4: Next Plan
  • AS (Shye Feng Enterprise Co., Ltd.): 泰國分支機構

Major End Customers and EMS Partners

• EMS Partners:

  • Pegatron, Flextronics, Foxconn, Gemtek, Jabil, Mitrastar, Humax, Goertek, Merry, Tymphany, QSI, Quanta, Inventec, Chicony, New Kinpo Group

• End Customers (by region/country):

  • Turkey: Arcelik, Airties
  • France: Freebox, Vantiva, Sagemcom, Valeo
  • Japan: Sony, Panasonic, Sharp, Toshiba, Daikin, Pioneer, Mitsubishi Sanda
  • Korea: Canon, LG, Epson, Samsung, Kyocera, SL, Brother
  • USA: Amazon, Western Digital, Commscope, HP, Watchfire, Daktronics, Seagate, TIGO, Harman, Aptiv
  • China: Skyworth, Sungrow, Bosch, HKC, Continental

Certifications

• IATF 16949 汽車業品質管理系統證書: Updated in July 2023 and January 2024 (Apex 1 & 2)
• ISO 14001 環境管理系統證書: Updated in October 2023 and December 2022 (Apex 1 & 2)
• ISO 9001 品質管理系統證書: Updated in July 2023 and January 2024 (Apex 1 & 2)
• ISO 45001 職業衛生安全管理系統證書: Updated in January 2023 (Apex 1 & 2)
• ISO 17025 實驗室品質管理系統證書: Updated in February 2024 (Apex 2)
• ISO 27001 資訊安全管理系統證書: Updated in August 2023
• ISO 14064-1 溫室氣體盤查認證: Updated in May 2025
• Green Procurement Standards: Compliance with Sony/Canon Hi-Tech in 2022 & Apex Group standards.

Financial Highlights

2025 Q2 Operating Results

1H25 Performance

Recent Performance

Quarterly Revenue - By Product Mix (2025 Q2)

• Product Mix:
  • Auto: 40.7%
  • Communication: 21.2%
  • PC: 14.7%
  • Home: 23.4%
• QoQ: (4.3%) ↓
  • Auto: (4%) ↓
  • Communication: 2% ↑
  • PC: 15% ↑
  • Home: (14%) ↓
• YoY: (12.8%) ↓

Quarterly Revenue - By Layer Count (2Q25)

• Layer Count Mix:
  • 1L: ~3%
  • 2L: ~2%
  • 4L: ~20%
  • 6L: ~35%
  • 8L: ~18%
  • 10+L: ~22%

ESG / Sustainability

APEX ESG Initiatives

• Greenhouse Gas Verification Statement (2025):

  • Total emissions: 187,060.07 tonnes of CO2e
  • Breakdown:
    • Direct emissions (Category 1): 14,305.79 tonnes of CO2e
    • Indirect emissions (Category 2): 152,147.67 tonnes of CO2e
    • Other indirect emissions (Category 3): 20,516.61 tonnes of CO2e

• Awards:

  • AREA ASIA RESPONSIBLE ENTERPRISE AWARDS 2024
  • Top 5% in electronics category for corporate governance evaluation (2024, 2025).

• Sustainability Reporting:

  • Released sustainability reports for 9 consecutive years (2016-2024).

GREEN Project

• Solar Project: Phase 1 target: RE 10%
• Lean Project: Phase 1 target: 8% energy saving
• Aqua Project: Phase 1 target: 40% wastewater recycling rate

Products & Technologies

Products

• Printed Circuit Boards (PCBs):
  • Layer counts: 1L, 2L, 4L, 6L, 8L, 10+L
  • HDI technology

Technology Platforms

• Certifications:
  • IATF 16949: Automotive Quality System
  • ISO 9001, ISO 14001, ISO 45001, ISO 17025, ISO 27001
  • ISO 14064-1: Greenhouse Gas Inventory Verification

Outlook & Strategy

• Expansion: "Next Plan" for Apex 4 factory
• Sustainability: Continued focus on ESG initiatives

Additional Data

Exchange Rates

• USD/THB: Lower in 2025 vs. 2024 (e.g., ~34.0 in Jan 2025, ~32.0 in Sep 2025)
• THB/NTD: Higher in 2025 vs. 2024 (e.g., ~0.95 in Jan 2025, ~0.95 in Sep 2025)