倉佑實業 (1568) 2026Q1 法說會簡報
Company Overview
公司簡介
- 設立日 (Establish Date): 民國74/1/16 (January 16, 1985)
- 資本額 (Capital): 10.3億 (NT$1.03 billion)
- 上市時間 (Company Listed): 民國103年 (2014)
- 廠區 (Plant):
- 台灣 (Taiwan): 4 (嘉義民雄)
- 馬來西亞 (Malaysia): 1
- 總計 (Total): 5
- 員工人數 (Employees): 310
公司簡介-MIT高品質技術 (MIT High Quality Technology)
- 倉佑總公司及中山廠 (Tsangyow Headquarters & Zhongshan Plant)
- 廠區面積 (Area): 約10,710 m2
- 製程屬性 (Process): 精密機械加工、齒型加工、研磨、熱處理、組裝 (Precision machining, gear processing, grinding, heat treatment, assembly)
- 倉佑成功廠 (Tsangyow Chenggong Plant)
- 廠區面積 (Area): 約5,200 m2
- 製程屬性 (Process): 精密機械加工、研磨、雷射銲接 (Precision machining, grinding, laser welding)
- 倉佑中山二廠 (Tsangyow Zhongshan Plant 2)
- 廠區面積 (Area): 約10,600 m2
- 製程屬性 (Process): 沖壓、精密機械加工、雷射銲接 (Stamping, precision machining, laser welding)
- 倉佑中山三廠 (Tsangyow Zhongshan Plant 3)
- 廠區面積 (Area): 約8,700 m2
- 製程屬性 (Process): 沖壓自動化產線、旋壓成型 (Stamping automated production line, spin forming)
倉佑啟動營運轉型,以高品質產品跨足多元產業市場 (Tsangyow Initiates Business Transformation, Expanding into Diversified Industrial Markets with High-Quality Products)
- 1985 倉佑成立 (Tsangyow established)
- 專注傳統燃油車傳動系統零件 (Focused on traditional fuel vehicle transmission system parts)
- 2018 市場轉型 (Market Transformation)
- 切入新能源車市場 (Entered new energy vehicle market)
- 多元傳動組件開發 (Diversified transmission component development)
- 2020 多元發展 (Diversified Development)
- 取得航太系統認證 (Obtained aerospace system certification)
- 跨足其他交通工具零組件 (Expanded into other transportation vehicle components)
- 2024 產業突破 (Industry Breakthrough)
- 進軍半導體設備 (Entered semiconductor equipment)
- 開啟高利基新紀元 (Opened a new era of high-margin niche markets)
Financial Highlights
營運概況- 近五年獲利能力表現 (Operating Overview - Recent Five-Year Profitability Performance)
- 註 (Note): 因大陸無錫子公司於2023年7月完成處分,故2023年度起各季合併損益業已依IFRS#5,將無錫子公司損益調整至停業單位,2023年度損益已不含無錫子公司。(Wuxi subsidiary in mainland China was divested in July 2023. Therefore, from 2023 onwards, consolidated income statements are adjusted according to IFRS#5, treating the Wuxi subsidiary's income/loss as discontinued operations. 2023 annual results do not include the Wuxi subsidiary.)
| 指標 (Metric) | 2022 (含WTY) | 2023 | 2024 | 2025 | 2026Q1 |
|---|---|---|---|---|---|
| 合併營收 (Consolidated Revenue) (NT$ thousand) | 1,790,943 | 1,193,076 | 1,049,324 | 1,052,420 | 250,310 |
| 營業淨利 (Operating Net Profit) (NT$ thousand) | 153,607 | 233,500 | 119,601 | 165,013 | 49,416 |
| 營業毛利率 (Gross Profit Margin) | 21% | 34% | 28% | 33% | 37% |
| 營業淨利率 (Operating Net Profit Margin) | 9% | 20% | 11% | 16% | 20% |
營運概況- 近五年獲利能力表現 (Operating Overview - Recent Five-Year Profitability Performance) (單位:台幣/千元)
| 指標 (Metric) | 2022 | 2023 (不含無錫) | 2024 | 2025 | 2026Q1 |
|---|---|---|---|---|---|
| 營業淨利 (Operating Net Profit) | 153,607 | 233,500 | 119,602 | 120,555 | 49,416 (YOY -10%) |
| Q1 | 34,732 | 41,815 | 54,080 | 55,060 | 49,416 |
| Q2 | 50,515 | 93,410 | 30,215 | 37,910 | |
| Q3 | 31,243 | 49,094 | 15,700 | 27,585 | |
| Q4 | 37,117 | 49,181 | 19,607 |
| 指標 (Metric) | 2022 | 2023 (含無錫) | 2024 | 2025 | 2026Q1 |
|---|---|---|---|---|---|
| 稅後淨利 (Net Profit After Tax) | 165,390 | 273,734 | 160,577 | 138,918 | 52,905 (YOY -4%) |
| Q1 | 30,530 | 53,184 | 79,118 | 55,065 | 52,905 |
| Q2 | 45,930 | 79,118 | 28,469 | 35,379 | |
| Q3 | 47,936 | 226,686 | 25,483 | 48,485 | |
| Q4 | 27,401 | (36,666) | 27,507 | (11) |
- Note: For 2023 Net Profit After Tax, the total (273,734) does not equal the sum of the quarters (53,184 + 79,118 + 226,686 - 36,666 = 322,322). There is also a discrepancy with the note on Slide 11 regarding the inclusion of the Wuxi subsidiary.
| 指標 (Metric) | 2022 | 2023 (含無錫) | 2024 | 2025 | 2026Q1 |
|---|---|---|---|---|---|
| EPS (NT$/share) | 1.62 | 2.67 | 1.59 | 1.36 | 0.51 |
| Q1 | 0.44 | 0.52 | 0.77 | 0.53 | 0.51 |
| Q2 | 0.47 | 0.77 | 0.30 | 0.34 | |
| Q3 | 0.27 | 2.21 | 0.25 | 0.48 | |
| Q4 | 0.44 | (0.36) | 0.27 | 0.01 |
- Note: For 2023 EPS, the total (2.67) does not equal the sum of the quarters (0.52 + 0.77 + 2.21 - 0.36 = 3.14). There is also a discrepancy with the note on Slide 11 regarding the inclusion of the Wuxi subsidiary.
營運概況- 近五年財務表現 (Operating Overview - Recent Five-Year Financial Performance)
| 指標 (Metric) | 2022 | 2023 | 2024 | 2025 | 2026Q1 |
|---|---|---|---|---|---|
| 負債率 (Debt Ratio) | 43.96% | 30.22% | 18.33% | 14.85% | 20.81% |
| 應收款項週轉率 (Accounts Receivable Turnover Ratio) | 3.53 | 3.50 | 5.07 | 5.24 | 4.91 |
| 利息保障倍數 (Interest Coverage Ratio) | 15.85 | 31.98 | 45.21 | 91.23 | 191.73 |
| 現金流量比率 (Cash Flow Ratio) | 47.88% | 69.78% | 51.21% | 92.98% | 30.60% |
Business Segments
公司簡介-主要產品 (Company Introduction - Main Products)
| 產品類別 (Product Category) | 倉佑供應之產品 (Products Supplied by Tsangyow)