Amulaire Thermal Technology, Inc. 2026H1 法說會簡報
Company Overview
Amulaire Thermal Technology, Inc. Pioneer the Innovation of Thermal Solutions from Concept to Realization.
Financial Highlights
合併綜合損益表 (Consolidated Income Statement)
(新台幣:仟元)
| 綜合損益表項目 | 2026上半年度 | 2025上半年度 | 年變化 |
|---|---|---|---|
| 營業收入淨額 | 472,595 | 321,734 | 46.9% |
| 營業毛(損)利率 | 9.3% | (5.4%) | 272.2% |
| 營業費用 | 82,987 | 79,482 | 4.4% |
| 營業損失 | (39,028) | (96,725) | 59.7% |
| 營業損失率 | (8.3%) | (30.1%) | 72.4% |
| 營業外收入及支出 | 1,229 | 73,671 | (98.3%) |
| 本期淨損 | (37,300) | (48,335) | 22.8% |
| 純損率 | (7.9%) | (15.0%) | 47.3% |
| 每股損失(元) | (0.42) | (0.36) | (16.7%) |
| 股東權益報酬率 | (6.6%) | (5.2%) | (26.9%) |
| 出貨量 | 461,291 | 320,527 | 43.9% |
| 季末匯率(美元/新台幣) | 31.85 | 29.30 | 8.7% |
| 季末匯率(歐元/新台幣) | 36.29 | 34.35 | 5.6% |
合併資產負債表 (Consolidated Balance Sheet)
(新台幣仟元)
| 資產負債表項目 | 2Q26核閱數 | % | 4Q25查核數 | % | 2Q25核閱數 | % |
|---|---|---|---|---|---|---|
| 現金及約當現金 | 166,632 | 7.3% | 197,179 | 8.6% | 90,176 | 4.3% |
| 應收帳款及票據 | 357,705 | 15.6% | 323,370 | 14.2% | 161,397 | 7.7% |
| 存貨 | 208,025 | 9.1% | 233,618 | 10.2% | 245,212 | 11.6% |
| 其他流動資產 | 97,781 | 4.3% | 80,704 | 3.5% | 296,232 | 14.0% |
| 長期投資 | - | - | - | - | 5,632 | 0.3% |
| 不動產、廠房及設備 | 1,309,353 | 57.0% | 1,349,863 | 59.1% | 1,218,451 | 57.7% |
| 其他非流動資產 | 156,870 | 6.8% | 99,102 | 4.3% | 92,559 | 4.4% |
| 資產總計 | 2,296,366 | 100.0% | 2,283,836 | 100.0% | 2,109,659 | 100.0% |
| 流動負債 | 349,877 | 15.2% | 375,711 | 16.5% | 273,207 | 13.0% |
| 非流動負債 | 446,933 | 19.5% | 390,397 | 17.1% | 378,197 | 17.9% |
| 負債總計 | 796,810 | 34.7% | 766,108 | 33.5% | 651,404 | 30.9% |
| 股東權益總計 | 1,499,556 | 65.3% | 1,517,728 | 66.5% | 1,458,255 | 69.1% |
重要財務指標 (Key Financial Ratios)
| 指標 | 2Q26核閱數 | 4Q25查核數 | 2Q25核閱數 |
|---|---|---|---|
| 平均收現日數 | 129.0 | 87.9 | 100.1 |
| 平均銷貨日數 | 85.0 | 93.0 | 126.0 |
| 流動比率(倍) | 2.4 | 2.2 | 2.9 |
合併現金流量表 (Consolidated Cash Flow Statement)
(新台幣仟元)
| 項目 | 2026 上半年 | 2025 上半年 |
|---|---|---|
| 期初現金及約當現金 | 210,896 | 170,794 |
| 營運活動之現金流入(出) | 59,207 | (59,125) |
| 支付房地合一稅 | (32,689) | - |
| 資本支出 | (12,133) | (25,852) |
| 借款增加(減少) | 61,138 | (2,479) |
| 投資與其他 | (64,517) | 22,356 |
| 期末現金及約當現金 | 221,902 | 105,694 |
Business Segments
主要產品應用領域 (Main Product Application Areas): 高功率晶片散熱解決方案
- 電動車 (Electric Vehicles)
- 智慧輔助駕駛 (Intelligent Assisted Driving / ADAS)
- 光通訊 (Optical Communications)
- 伺服器 (Servers)
Products & Technologies
電動車散熱方案 (EV Thermal Solutions)
- 產品應用 (Product Applications):
- BEV (Battery Electric Vehicle), HEV (Hybrid Electric Vehicle), PHEV (Plug-in Hybrid Electric Vehicle), FCEV (Fuel Cell Electric Vehicle) power module
- OBC (onboard charger)
- DC/DC
ADAS散熱方案 (ADAS Thermal Solutions)
- 產品應用 (Product Applications):
- ADAS ECU (Electronic Control Unit)
光通訊方案 (Optical Communication Solutions)
- 產品應用 (Product Applications):
- 800G OSFP 鋅合金外殼與散熱組件 (800G Octal Small Form-factor Pluggable Zinc alloy casing and thermal module)
- 1.6T OSFP 鋅合金外殼與散熱組件 (1.6T Octal Small Form-factor Pluggable Zinc alloy casing and thermal module)
- 3.2T OSFP 鋅合金外殼與散熱組件 (3.2T Octal Small Form-factor Pluggable Zinc alloy casing and thermal module)
伺服器散熱方案 (Server Thermal Solutions)
- 產品應用 (Product Applications):
- AI伺服器散熱模組與次系統 (AI server thermal modules and sub-systems)
- immersion cooling散熱模組 (immersion cooling thermal modules)
Recent Performance and Results
電動車散熱方案 (EV Thermal Solutions)
- 營運實績 (Operational Performance):
- 2026 H1: 主力產品客戶新車種發表上市,需求明顯回升,歐洲客戶新產品放量順利 (Main product customers launched new vehicle models, demand significantly rebounded, European customer new products successfully ramped up).
- 2026 H2: 主力產品需求穩定,新產品需求持續增加 (Main product demand stable, new product demand continues to increase).
ADAS散熱方案 (ADAS Thermal Solutions)
- 營運實績 (Operational Performance):
- 2026 H1: 打入北美新系統客戶,取得樣品訂單,並完成送樣驗證 (Entered new North American system customer, obtained sample orders, and completed sample verification).
- 2026 H2: 正式取得北美系統客戶產品專案,待完成客戶審查後進度量產 (Officially secured product projects from North American system customers, pending customer review for mass production).
光通訊方案 (Optical Communication Solutions)
- 營運實績 (Operational Performance):
- 打入北美大廠, 800G OSFP產品送樣認證中 (Entered major North American manufacturer, 800G OSFP products undergoing sample certification).
- 1.6T OSFP產品散熱方案與潛在客戶合作開發中 (1.6T OSFP product thermal solutions under collaborative development with potential customers).
伺服器散熱方案 (Server Thermal Solutions)
- 營運實績 (Operational Performance):
- 取得immersion cooling散熱模組樣品訂單,目前送樣驗證中 (Obtained sample orders for immersion cooling thermal modules, currently undergoing sample verification).
Outlook & Strategy
電動車散熱方案 (EV Thermal Solutions)
- 營運展望 (Operational Outlook):
- 2026 營運展望 (Positive outlook indicated by arrow).
ADAS散熱方案 (ADAS Thermal Solutions)
- 營運展望 (Operational Outlook):
- 2026 營運展望 (Positive outlook indicated by arrow).
光通訊方案 (Optical Communication Solutions)
- 戰略舉措 (Strategic Initiatives):
- 結盟台灣鋅合金優質廠商,打造台灣供應鏈與生產基地 (Partnered with high-quality Taiwanese zinc alloy manufacturers to build a Taiwanese supply chain and production base).
伺服器散熱方案 (Server Thermal Solutions)
- 戰略舉措 (Strategic Initiatives):
- 由component設計與製造,轉型為提供散熱次系統解決方案 (Transitioning from component design and manufacturing to providing thermal sub-system solutions).
Additional Data
聯絡方式 (Contact Information)
- 電話 (Phone): +886-2-2602-6787
- 電子郵件 (Email): @amulaire.com
- 網站 (Website): https://www.amulaire.com/
- 訊息 (Message): 歡迎聯繫我們,我們期待為您提供最好的服務 (Welcome to contact us, we look forward to providing you with the best service).