台灣嘉碩科技股份有限公司 (3221:TT) 2025年11月法人投資說明會
公司聲明
- 本簡報及同時發佈之相關訊息所提及之前瞻性資訊，係本公司基於公司資料及現況所得之資訊。
- 此類前瞻性資訊將受風險、不確定性與推論所影響，部份將超出我們的控制之外，實際結果可能與這些前瞻性資訊大不相同。其原因可能來自於各種因素，包括但不限於原物料成本增加、市場需求，各種政策法令與金融經濟現況之改變以及其他非本公司所能控制之風險等因素。
- 本簡報資料中所提供之資訊並未明示或暗示的表達或保證其具有正確性、完整性、或可靠性，亦不代表本公司、產業狀況或後續重大發展的完整論述。對未來的展望，反應本公司截至目前為止對於未來的看法，對於這些看法，未來若有任何變更或調整時，本公司並不保證本簡報資料之正確性，且不負有更新或修正本簡報資料內容之責任。
Company Overview
- 公司名稱: 台灣嘉碩科技股份有限公司 (TAI-SAW TECHNOLOGY CO., LTD.)
- 股票代號: 3221:TT
- 標語: Your Best Partner for Frequency Devices
- 版權: Copyright © TST 2025
全球據點 (Global Footprint)
| 據點類型 | 地點 |
|---|---|
| HQ/R&D | TAIWAN |
| Sales Offices | TAIWAN, Wuxi / Shanghai, San Jose |
| Manufacturing | TAIWAN, Wuxi / Shanghai, 菲律賓 Laguna |
| Sales Rep. | TAIWAN, Wuxi / Shanghai, San Jose, New (新據點) |
產品與技術 (Products & Technologies)
完整的頻率元件產品線
| 產品線 | 產品名稱/類型 |
|---|---|
| SAW/BAW | WLP, DPX, Filter, RF SAW, IF SAW, QPX |
| Xtal/Osc | Xtal, XO/TCXO, VCXO, VCTCXO, OCXO |
| Antenna | Patch, Linear, Chip, FPC/PCB |
| DR Filter | 3500Mhz, 5G Tri-Band, 2.4GHz, Wifi 7 6GHz, DPX, DIP, Aviation |
| Module | NB-IoT, External GPS, Internal GPS, RFFE |
| LNA, CSR Meganetic sensor | LNA, Megnetic sensor, CSR |
製造流程
6' & 4' Wafer Lithography and Foundry
- Wafer Cleaning
- PR coating
- Exposure
- Developing
- Metallization
- Lift-off
- Probing
MLCSP Assembly and Packaging
- Stud bump
- Wafer dicing
- Flip chip
- Sealing
- Ni.Plating
- Marking
- Substrate Dicing
- Final Test & Packing
Financial Highlights
單位: 新台幣百萬 (NT$ Million), 惟每股盈餘為元 (EPS in NT$)
營收趨勢 (Revenue Trend)
| 項目 | 數值 |
|---|---|
| 25Q3 營收 (Overall Revenue) | NT$553 Million |
| 營收季成長率 (QoQ) | -0.78% |
| 較去年同期成長率 (YoY) | -2.20% |
合併損益表 (Consolidated Income Statement) (Quarterly Comparison)
| 項目 | 2024Q3 | % | 2025Q3 | % | 2025Q2 | % |
|---|---|---|---|---|---|---|
| 營業收入 (Revenue) | $566 | 100.00% | $553 | 100.00% | $558 | 100.00% |
| 營業成本 (COGS) | 456 | 80.57% | 445 | 80.47% | 453 | 81.18% |
| 營業毛利 (Gross Profit) | 110 | 19.43% | 108 | 19.53% | 105 | 18.82% |
| 營業費用 (Op. Exp.) | 101 | 17.84% | 135 | 24.41% | 93 | 16.67% |
| 營業利益(損失) (Op. Income/Loss) | 9 | 1.59% | (27) | (4.88%) | 12 | 2.15% |
| 稅前淨利(淨損) (PBT) | 4 | 0.71% | (12) | (2.17%) | (53) | (9.50%) |
| 本期淨利(淨損) (Net Income/Loss) | ($5) | (0.88%) | ($24) | (4.34%) | ($37) | (6.63%) |
| 歸屬於母公司業主 (Attributable to Owners of Parent) | $2 | 0.35% | ($12) | (2.17%) | ($27) | (4.84%) |
| EPS (元) | $0.02 | ($0.11) | ($0.27) |
合併損益表 (Consolidated Income Statement) (YTD Comparison)
| 項目 | 2024Q1~Q3 | % | 2025Q1~Q3 | % |
|---|---|---|---|---|
| 營業收入 (Revenue) | $1,651 | 100.00% | $1,661 | 100.00% |
| 營業成本 (COGS) | 1,285 | 77.83% | 1,332 | 80.19% |
| 營業毛利 (Gross Profit) | 366 | 22.17% | 329 | 19.81% |
| 營業費用 (Op. Exp.) | 309 | 18.72% | 325 | 19.57% |
| 營業利益(損失) (Op. Income/Loss) | 57 | 3.45% | 4 | 0.24% |
| 營業外收入及支出 (Non-op.) | 23 | 1.39% | (50) | (3.01%) |
| 稅前淨利(淨損) (PBT) | 80 | 4.85% | (46) | (2.77%) |
| 所得稅費用(利益) (Tax) | 21 | 1.27% | (7) | (0.42%) |
| 本期淨利(淨損) (Net Income/Loss) | $59 | 3.57% | ($53) | (3.19%) |
| 歸屬於母公司業主 (Attributable to Owners of Parent) | $76 | 4.60% | ($23) | (1.38%) |
| EPS (元) | $0.74 | ($0.22) |
合併資產負債表 (Consolidated Balance Sheet)
| 項目 | 2024/9/30 | % | 2025/9/30 | % | 2024/12/31 | % |
|---|---|---|---|---|---|---|
| 資產總計 (Total Assets) | $2,922 | 100.00% | $2,920 | 100.00% | $2,986 | 100.00% |
| 流動資產 (Current Assets) | $1,675 | 57.32% | $1,714 | 58.70% | $1,778 | 59.54% |
| 存貨 (Inventory) | 382 | 13.07% | 451 | 15.45% | 395 | 13.23% |
| 非流動資產 (Non-current Assets) | 1,247 | 42.68% | 1,206 | 41.30% | 1,208 | 40.46% |
| 負債總計 (Total Liabilities) | $748 | 25.60% | $897 | 30.72% | $808 | 27.06% |
| 流動負債 (Current Liabilities) | $596 | 20.40% | $658 | 22.53% | $667 | 22.34% |
| 非流動負債 (Non-current Liabilities) | 152 | 5.20% | 239 | 8.18% | 141 | 4.72% |
| 權益總額 (Total Equity) | $2,174 | 74.40% | $2,023 | 69.28% | $2,178 | 72.94% |
| 股本 (Share Capital) | $1,040 | 35.59% | $1,039 | 35.58% | $1,039 | 34.80% |
| 歸屬母公司業主權益 (Equity Attributable to Owners of Parent) | 2,144 | 73.37% | 1,987 | 68.05% | 2,146 | 71.87% |
Business Segments
銷售分析 - 依產品別 (Revenue by Applications)
| 應用類別 | 2021/Q1 - 2025/Q3 趨勢 |
|---|---|
| Automotive (汽車) | 2023/Q3 達到約 29% 峰值。 |
| Mobile&IOT (行動與物聯網) | 2022/Q2 達到約 20% 峰值。 |
| Networking (網通) | 2023/Q2 達到約 36% 峰值。 |
| Other (其他) | 2025/Q3 達到約 15% 峰值。 |
銷售分析 - 依地區別 (Revenue by Region)
| 地區 | 2021/Q1 - 2025/Q3 趨勢 |
|---|---|
| AP (亞太) | 2022/Q1 達到約 35% 峰值。 |
| CHN (中國) | 2021/Q3 達到約 28% 峰值。 |
| EU (歐洲) | 2022/Q3 達到約 23% 峰值。 |
| ROW (世界其他地區) | 2022/Q2 達到約 12% 峰值。 |
| TWN (台灣) | 2022/Q4 接近 0%。 |
| US (美國) | 2025/Q3 達到約 21% 峰值。 |
應用市場與產品 (Applications and Products)
TST in Automotive Applications (汽車應用)
| 應用領域 | 產品/元件 |
|---|---|
| Infotainment & Cluster | BT/BLE/WiFi, TCXO, TSX, XO, SMD XTAL |
| EV Charging | LTE/WiFi/BLE, SAW Filter, SAW DPX, TCXO, TSX, XO, SMD XTAL |
| Keyless Entry | RKE/PEPS/UWB, SAW Filter, SAW DIX, TCXO, SMD XTAL |
| T-Box, Auto-HPC | LTE/5G Communication module, SAW Filter, SAW DPX, TCXO, TSX, SMD XTAL |
| Ethernet (TWISTED-PAIR ETHERNET) | SMD XTAL, Diff XO |
| ADAS | Surrounding Camera, Dead Reckoning, LR Radar, TCXO, XO, SMD XTAL |
| SDARS module (SiriusXM) | SAW Filter, SMD XTAL |
| Navigation | Multi-band Antenna, GNSS L1/L2/L5/L6, SAW Filter, SAW DIX, FEM, TCXO, SMD XTAL |
| TPMS | SMD XTAL |
TST in High-Speed Datacom Applications (高速數據通訊應用)
| 應用領域 | 產品/元件 |
|---|---|
| GPU Module | XTAL Diff XO |
| Data Computing (Server/Switch/IDC/Edge) | TCXO, Diff XO, Programmable XO, XO, SMD XTAL |
| Optical/ Smart NIC (400G, 800G, 1.6T/ AEC/AOC) | Diff XO, SMD XTAL |
| Infrastructure (RU/DU/CU/Core/RAN) | OCXO, S3TCXO, VCTCXO, VCXO, Diff XO, Programmable XO, XO, DR Filter |
| Optical Module | PAM4 100/200/400G |
| Data Center | Servers/Storages |
| Core/Aggregation | Switches/Routers |
TST in LEO & Satellite Applications (低軌道衛星與衛星應用)
| 應用領域 | 產品/元件 |
|---|---|
| LEO (AP/POE/GNSS/NTN-Tracker/ Satellite Communicator) | SAW/BAW Filter, FEM, DPX, DIX, TCXO, TSX, SMD XTAL, DR Filter, 4/5G Cell Antenna, 2.4/5/6 GHz Antenna, GNSS, NTN Patch/Chip Antenna |
TST in M2M, Meters & Telematics Applications (M2M、儀表與車載資通訊應用)
| 應用領域 | 產品/元件 |
|---|---|
| Healthcare (CGM/Pacemaker/Auto-Injector) | SAW Filter, SMD XTAL, 2.4/5/6 GHz Antenna, ISM Antenna |
| Industrial @ M2M (Metering/eAP/Communication Module/IP CAM/POE Switch) | SAW/BAW Filter, DPX, DIX, TCXO, TSX, SMD XTAL, 4/5G Cell Antenna, 2.4/5/6 GHz Antenna, GNSS Patch/Chip Antenna, GNSS External Antenna, ISM Antenna |
| Home/ Office Networking & Automation | SAW/BAW Filter, TCXO, SMD XTAL, DR, BAW Filter, LTCC BPF, GNSS Patch, GNSS External Antenna, 2.4/5/6 Antenna |
| Smart Logistics & Warehousing (RFID/eTag/Tracker) | SAW Filter, FEM, TCXO, SMD XTAL, RFID Patch Antenna, 2.4/5/6 GHz Antenna, ISM Antenna |
| Transportation (LTE/Proprietary Radio/GNSS) | SAW Filter, FEM, TCXO, XO, SMD XTAL, 4/5G Cell Antenna, 2.4/5/6 GHz Antenna, GNSS Patch/Chip Antenna |
| AI PC & Gaming | SAW Filter, TCXO, SMD XTAL, LTCC BPF, 2.4/5/6 Antenna |
Outlook & Strategy
新產品線應用 (New product line application)
| 應用領域 | Timing (時序元件) | Filter & Antenna (濾波器與天線) | New product line (新產品線) |
|---|---|---|---|
| Smart meters (有/無線電網) | TCXO, XO, XTAL | SAW, LTCC Filter, DR Filter, Antenna, FEM | Magnetic sensor, CSR |
| EV Car & EV charger | TCXO, differential XO, XTAL, OCXO | SAW, BAW Filter, DPX, TPX, QPX, DR Filter, Antenna | LNA, Magnetic sensor, CSR |
| 5G cellular | TCXO, differential XO, XTAL, OCXO | SAW, BAW Filter, DPX, TPX, QPX, DR Filter, Antenna | LNA |
| navigation, Drone, 衛星網路 (Satellite Network) | TCXO, differential XO, XTAL, OCXO | SAW, BAW Filter, DPX, TPX, QPX, DR Filter, Antenna, FEM | LNA, Magnetic sensor |
Additional Data
營運檢討 - 業務展望 (B/B Trend Chart)
- 圖表顯示 15Q1 至 25Q4 的 Billing (出貨) 趨勢。
- 包含 Billing (藍色柱狀) 及 tstbio billing (淺藍色柱狀)。
聯絡資訊
- 姓名: Paul Lee
- Email: paullee@mail.taisaw.com
- 網站: www.taisaw.com