A A a1. Company at a Glance a1. Company at a Glance No. 155, - - PDF document

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A A a1. Company at a Glance a1. Company at a Glance No. 155, - - PDF document

Oct 24, 2023 202 likes •373 views

MPI Corporation (6223.TT) MPI Corporation (6223.TT) Morgan Stanley Morgan Stanley 1 Confidential Confidential A A a1. Company at a Glance a1. Company at a Glance No. 155, Chung-Ho St., Chu-Pei, Hsinchu, Address 302 Taiwan, R.O.C.

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SLIDE 1

Confidential Confidential

MPI Corporation (6223.TT) MPI Corporation (6223.TT)

Morgan Stanley Morgan Stanley

1 2

  • a1. Company at a Glance
  • a1. Company at a Glance

A A

Address

  • No. 155, Chung-Ho St., Chu-Pei, Hsinchu,

302 Taiwan, R.O.C. Founded July, 25, 1995 Paid-in Capital NTD$ 776M (2010.07.31-the latest )

  • No. of Employees

848 (2010.07.31) Southern Taiwan Branch

  • No. 7, Luke 1st Rd., Luzhu Shiang, Kaohsiung,

821 Taiwan, R.O.C.

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SLIDE 2

3

Milestone Milestone Milestone

1995 1995 Company established Company established 1998 1998 Technology transfer from MJC completed Technology transfer from MJC completed 2000 2000 Hsinchu Hsinchu New plant operation started New plant operation started Tainan branch and repair center established Tainan branch and repair center established 2001 2001 Pass ISO9001 certification Pass ISO9001 certification 2003 2003 MPI IPO in OTC Market MPI IPO in OTC Market 2006 2006 ST Branch ST Branch Luzhu Luzhu plant operation started plant operation started 2008 2008 Signed MOU with SUSS Signed MOU with SUSS MicroTech MicroTech Test System Test System 2010 2010 Solar cell B.U signed MOU with GET Solar cell B.U signed MOU with GET

4

  • a2. Business Portfolio : 2009 & 2Q 2010
  • a2. Business Portfolio : 2009 & 2Q 2010

61% 15% 22% 42% 38% 19% 24% 47% 31%

0% 20% 40% 60% 80% Probe Card Leda Solar

2009 1Q 2010 2Q 2010

A A

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SLIDE 3

5

5/35

Agenda

  • 1. LED: P. 6 - 17
  • 2. Semi-conductor: P.19 - 24
  • 3. Solar: P.26 - 27
  • 4. Apendix

5 6

EPI-Wafer Process EPI-Wafer Process

B1 B1

400um 100um

Grinder Grinder Laser Scriber Laser Scriber Expander Expander Wafer Wafer Mounter Mounter Breaker Breaker Prober Prober Tape Tape Mounter Mounter Sorter Sorter QC Prober QC Prober Counter Counter

CCD

2 5 6

Post Post Inspection Inspection

  • MPI Co. (75%)

MPI Co. (75%)

  • Fittech

Fittech Co. Co.

  • Chroma

Chroma ATE Inc. ATE Inc.

  • MPI Co. (40+%)

MPI Co. (40+%)

  • ASMP (HK)

ASMP (HK)

1 1 7 7 6 6

MOCVD MOCVD 42(P)/Run 42(P)/Run Sorter Sorter Prober Prober

PC PC PC PC PC PC PC PC PC PC PC PC

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SLIDE 4

7

MOVCD Makers 2010 MOVCD Makers 2010

B1 B1

MOVCD Makers’ Ratio MOVCD Makers MOVCD Makers’ ’ Ratio Ratio MOVCD Asia Order Ratio MOVCD Asia Order Ratio MOVCD Asia Order Ratio

China, Korea, Taiwan,

Source: DIGITIMES，2010/4

8

G.L ASP Trend G.L ASP Trend

B1 B1

09’ 12/28 10’ 01/04 10’ 02/01 10’ 03/01 10’ 03/15 Source: GFK Japan, DIGITIMES，2010/4

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SLIDE 5

9

LED General Lightings TAM LED General Lightings TAM

B1 B1

LED TAM of General Lighting LED General Lighting Penetration Rate Source: GFK Japan, DIGITIMES，2010/4

10

  • 03. Equipment Shipment 2009~2010
  • 03. Equipment Shipment 2009~2010

B1 B1

118 88 165 246 231 197 252 221 3200%

  • 500%
  • 500%
  • 500%
  • 500%

500% 500% 500% 500% 1500% 1500% 1500% 1500% 2500% 2500% 2500% 2500% 3500% 3500% 3500% 3500% 50 50 50 50 100 100 100 100 150 150 150 150 200 200 200 200 250 250 250 250 300 300 300 300 Jan. Feb. Mar. Apr. May Jun. Jul Aug. Sep. Oct. Nov. Dec.

%

PC

2009 2009 2009 2009 2010 2010 2010 2010 Growth Growth Growth Growth

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SLIDE 6

11 China, 332, 32% Korea, 100, 10% Japan, 0, 0% Taiwan, 611, 58%

by Geography by Geography by Geography by Product by Product by Product

283 465 80 223 219 48 76 31 0% 20% 40% 60% 80% 100% 1Q-10(S) 2Q-10(S) 1Q-10(AP) 2Q-10(AP) Season

%

Sorter Prboer

PC

  • 03. Geography & Product Mix
  • 03. Geography & Product Mix

B1 B1

1H 1H 1H 1H 1H 1H 1H 1H’ ’ ’ ’ ’ ’ ’ ’ 2010 2010 2010 2010 2010 2010 2010 2010

Country, PC, %

AP: Approval Receipt AP: Approval Receipt S: Shipment S: Shipment

12

Taiwan Taiwan China China Korea Korea

  • 03. 1H’ 2010 Major Customers
  • 03. 1H’ 2010 Major Customers

B1 B1

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SLIDE 7

13

  • 03. Prober
  • 03. Prober

B1 B1

14

  • !""#
  • 03. Sorter
  • 03. Sorter

B1 B1

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SLIDE 8

15

  • 03. State-of-the-Art 2 in 1 Machine
  • 03. State-of-the-Art 2 in 1 Machine

B1 B1

16

B1 B1

$%&'

  • 03. Auto Sorting Machines
  • 03. Auto Sorting Machines

#()

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SLIDE 9

17

"#() $*&'

  • 03. Auto Taping Machine
  • 03. Auto Taping Machine

B1 B1

18

18/35

Agenda 1.LED: P. 6 - 17 2.Semi-conductor: P.19 - 24 3.Solar: P.26 - 27 4.Apedix

18

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SLIDE 10

19

Logic P/C LCD Driver IC

40μ μ μ μm pitch for LCD Driver IC

  • 03. Categories of Probe Card
  • 03. Categories of Probe Card

B2 B2

20

70% 66% 60% 63% 63% 65% 31% 29% 32% 33% 27% 27% 4% 8% 5% 7% 7% 3%

0% 10% 20% 30% 40% 50% 60% 70% 80% Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10

% LCD Logic Memory

  • 03. Product Mix in 2009 ~2Q 2010

B2 B2

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SLIDE 11

21

  • 03. Monthly Shipment 2008~2Q 2010

B2 B2

50000 100000 150000 200000 250000 300000 350000 400000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Pin

2008 2009 2010 22

  • 03. B/B Ratio 2008~2Q 2010

B2 B2

1.05 1.24 1.17 1.03 1.05 0.83 0.85 1.14

0.3 0.3 0.3 0.3 0.6 0.6 0.6 0.6 0.9 0.9 0.9 0.9 1.2 1.2 1.2 1.2 1.5 1.5 1.5 1.5 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2008 2009 2010

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SLIDE 12

23

  • 03. 2Q 2010 Major Customers

Design Houses Design Houses Foundries Foundries Testing Houses Testing Houses

B2 B2

24

B2 B2

  • 03. Product & Customers Mix (%)

Logic, 31% Memory, 4% LCD, 65%

by Product by Product by Product by Customer by Customer by Customer

Foundry, 7% Design house, 41% Testing house, 52%

2Q 2010 2Q 2010 2Q 2010 2Q 2010 2Q 2010 2Q 2010 2Q 2010 2Q 2010

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SLIDE 13

25

25/35

Agenda 1.LED: P. 6 - 17 2.Semi-conductor: P.19 - 24 3.Solar: P.26 - 27 4.Apedix

25 26

  • 01. Wafer Process in Solar
  • B3

B3

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SLIDE 14

27

  • 02. Shipment 2009 ~ 2010

B3 B3

1,192,862 596% 200,000 400,000 600,000 800,000 1,000,000 1,200,000 Jan. Feb. Mar. Apr. May Jun. Jul Aug. Sep. Oct. Nov. Dec. PC 0% 100% 200% 300% 400% 500% 600%

%

2009 2010 Growth 28

28/35

Appendix

28

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SLIDE 15

29

  • 02. LED Trend- Taiwan monthly output
  • 02. LED Trend- Taiwan monthly output

B1 B1

30

2Q 10 2Q 10 2Q 10’ ’ ’ Income Statement Income Statement Income Statement-

  • QoQ

QoQ QoQ Comparison Comparison Comparison

Amount: NT$K 2Q’2010 1Q’2010 Net Sales 835,319 100% 514,256 100% Cost of Goods Sold 504,962 60.6% 312,687 60.8% Gross Profit 330,359 39.4% 201,569 39.2% Operating Expense 183,380 24.4% 145,407 28.3% Operating Income 144,650 14.9% 55,898 10.9% Investment Income & Others 33,851 3.8% 17,104 3.3% Net Income (before tax) 178,501 18.6% 73,002 14.2% Income tax 4,116 0.7% 4,718 0.9% Net Income 174,385 18.0% 68,284 13.3% Earnings Per Ordinary Shares-Diluted 2.37 0.89

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SLIDE 16

31

2Q 10 2Q 10 2Q 10’ ’ ’ Income Statement Income Statement Income Statement-

  • YoY

YoY YoY Comparison Comparison Comparison

Amount: NT$K 1H’2010 1H’2009 Net Sales 1,349,575 100% 596,573 100% Cost of Goods Sold 817,647 60.6% 424,424 71.1% Gross Profit 531,928 39.4% 172,149 28.9% Operating Expense 328,787 24.4% 218,312 36.6% Operating Income 200,548 14.9% 46,044 7.7% Investment Income & Others 50,955 3.8% 2,461 0.4% Net Income (before tax) 251,503 18.6% 48,505 8.1% Income tax 8,834 0.7% 56 0% Net Income 242,669 18.0% 48,448 8.1% Earnings Per Ordinary Shares-Diluted 3.26 0.67