Green Energy Technology (GET, 3519TT) Safe Harbor Statem ent The - - PDF document

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Green Energy Technology (GET, 3519TT) Safe Harbor Statem ent The - - PDF document

Mar 07, 2023 454 likes •622 views

1 Green Energy Technology (GET, 3519TT) Safe Harbor Statem ent The statem ents included in this presentation that are not historical in nature are forw ard-looking statem ents. These forw ard-looking statem ents w hich m ay include statem ents

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Green Energy Technology

(GET, 3519TT)

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Safe Harbor Statem ent

The statem ents included in this presentation that are not historical in nature are forw ard-looking statem ents. These forw ard-looking statem ents w hich

m ay include statem ents regarding GET future results of operations, financial condition, and investm ent plan are subject to significant risks and uncertainties and are based on GET current expectations. Actual results m ay differ m aterially from those expressed or im plied in these forw ard-looking statem ents for a variety of reasons, including, am ong other things: the cyclical fluctuation and our gross m argin affected by dow nw ard price pressures; our dependence on grow th in the dem and for our products; dependence on access to raw m aterials and com ponents; general econom ic and political conditions, including those related to the solar industry; possible disruptions in com m ercial activities caused by natural and hum an-induced disasters; and fluctuations in foreign currency exchange. Additional inform ation as to these and other factors that m ay cause actual results to differ m aterially from GET forw ard-looking statem ents can be found in GET annual report on Market Observe Post System in TSEC w ebsite. Except as required by law , w e undertake no obligation to update any forw ard-looking statem ent, w hether as a result of new inform ation, future events, or otherw ise.

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Established：2004 Capital:

NT$ 1.072 Billion (US$ 35 million)

The Largest Multi-Crystalline Silicon Wafer Producer in Taiwan

Introduction Introduction-

  • Company

Company

Annual Capacity Ramp up May 2005

25 MW

  • Dec. 2006

65 MW

  • Aug. 2007

110 MW

  • Dec. 2007

200 MW

  • Dec. 2008

300 MW

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Grand Parent Grand Parent-

  • Tatung Group

Tatung Group

Home Appliance Wires & Cable Industrial Products 3C P5

Tatung Company (2371TT)

Solar and silicon wafer

(GET, San-Chih Semi-Con.)

Asset development (San-Chih Asset Development) IT (Elite Group, TSTi) Channel (TCPC) Optoelectronics (CPT, Forward)

Core Investment Core Business Established: 1918 Capital: US$ 1.3 bn Collaborate with Tatung University

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Multi Crystalline Ingot and Wafer Cost Advantage Throughout Value Chain GT DSS Furnaces for 270/450 kg Ingot Wire Saws for 156mm x 156mm x 180/200μm

Wafer

Customer Perception Reliable and Responsive Best Quality (High Efficiency and Low

Breakage)

Business Business-

  • Crystalline Solar Ingot/Wafer

Crystalline Solar Ingot/Wafer

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2.6meters 2.2meters

The first in Taiwan and top three in world to volume produce amorphous silicon G8.5 thin film module.

See-through

New Business New Business – – Thin Film Solar Module Thin Film Solar Module

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New Business New Business-

  • Thin Film Solar Module

Thin Film Solar Module

Integrated Applied Material SunFab Design with CPT TFT-LCD experience and GET in-house technology.

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Q4/2009

Notes: The schedule is subject to adjust upon final specification requirement.

Thin Film G8.5 Thin Film G8.5 -

  • Schedule

Schedule

Q2/2008

Production line Move in

Q4/2008

Test Running

Q3/2009

50MW MP Volume Production

Dec./2008 Q1/2009

TUV Qualified (Quarter-size) 30MW MP TUV Qualified (Full-size)

  • Mass Production: December, 2008
  • 1st stage annual capacity (Q1, 2009): 30MW
  • Further annual capacity (Q4, 2009): 50MW
  • Guaranteed conversion rate: Start from 6%
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Spec. Size Power Voc(V) Isc(A) 1.1m x 1.3m 83W 168W 2.2m x 2.6m 343W 196 2.9 96 1.4 1.1m x 2.6m 96 2.9

1 .1 m eters 1 .1 m eters 2 .2 m eters 1 .3 m eters 2 .6 m eters 2 .6 m eters

Best for Roof Top Best for BI PV Best for Solar farm

Flexible Thin Film Module Specification Flexible Thin Film Module Specification

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Thin Film G8.5 Production Line Thin Film G8.5 Production Line

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Financial Results Financial Results

(Unit: NT$ million ) 3Q’2008 2Q’2008 QoQ Q1~Q3’2008 Q1~Q3’2007 YoY Net sales 2,470 2,303 7.25% 6,726 1,662 1,327 1,296

  • 138

1,159 24.71% 19.72% 17.23% 269 1624 12.31* 11* 3,271 105% Gross profit 496 680

  • 27.06%

569 192% Operating income 334 574

  • 41.81%

436 204% Pre-tax income 348 591

  • 41.12%

417 210% Income tax 96

  • 148
  • 73

Net income 445 443 0.45% 343 236% Gross margin 20.08% 29.51%

  • 9 ppt

17.39% +7 ppt Operating margin 13.53% 24.91%

  • 11 ppt

13.34% +6 ppt Net margin 18.01% 19.22%

  • 1 ppt

10.51% +6 ppt Depreciation & amortization 93 89 4% 129 108% EBITDA 460 699

  • 35%

592 174% Pre-tax EPS (NT$) 3.29* 5.21** 4.51*** EPS (NT$) 4.21* 3.89** 3.71***

*Based on 105.365 million weighted average outstanding shares **Based on 105.126 million weighted average outstanding shares ***Based on 92.568 million weighted average outstanding shares

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681 989 2,303 2,470 2,062 170 362 379 486 680 496

45 49 72 87 89 93

1,953 1,771 1,599 36

34

29.51% 20.08%

11.67% 14.61% 15.70% 13.91% 19.22%

24.89% 21.40% 17.20% 22.64% 5.29%

18.01%

  • 500

1,000 1,500 2,000 2,500 3,000 1Q 07 2Q 07 3Q 07 4Q 07 1Q 08 2Q 08 3Q 08 4Q 08 0% 10% 20% 30% 40% Net sales Gross profits Depreciation & amortization Gross Margin Net Margin

Unit: NT$ Million

Quarterly Revenue and Margin Quarterly Revenue and Margin

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48 192 350 416 464 699 460 464 429 752 527 125 539 1214 34 45 49 72 87 89 93

  • 200

400 600 800 1,000 1,200 1,400 1Q 07 2Q 07 3Q 07 4Q 07 1Q 08 2Q 08 3Q 08 EBITDA CapEx Depreciation & Amortization

Unit: NT$ Million

Unit: NT$ million 1Q 07 2Q 07 3Q 07 4Q 07 1Q 08 2Q 08 464 699 539 89 125 87 3Q 08 EBITDA 48 192 350 416 460 CapEx 464 429 752 527 1,214 Depreciation & amortization 34 45 49 72 93

Quarterly EBIDA and CapEx Quarterly EBIDA and CapEx

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Wire Saw Slurry recycling – over 70% recycled Wafer recovery technology Thinner crystalline silicon wafer- under 180μm Amorphous silicon thin-film solar cell Screen printing / etching production See-through solar module development

Technology Developing Technology Developing

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GET signs 9-year agreement worth of US$ 260 million with Korean polysilicon supplier DC Chemical. (2008/3/24) GET gets 8-year orders worth of US$ 990 million from 5 Asia cell customers. (2008/3/28) GET gets 8-year orders worth of US$ 574 million from 4 Europe and Asia customers. (2008/4/9) GET signs 8-year agreement worth of US$ 858 million with Korean polysilicon supplier DC Chemical. (2008/7/9) GET gets 8-year orders worth of US$ 947 million from Asia and Australia customers. (2008/8/18) GET gets annual thin film order worth of €39.8 million (US$ 58.7 M) from Germany and Spain customers. (2008/9/1) GET demonstrates G8.5 thin film solar module in 2008 Taiwan PV Forum.(2008/10/7) GET 1st stage China investment US$ 5.05 million to Ultra Energy Holdings in Weifang Shandong for solar wafer slicing business. (2008/10/20) GET issues CB for NT$ 1.5 billion, with 5% premium, conversion price NT$ 144.4 (2008/10/20) GET announced volume production of G8.5 thin film line (2008/12/24)

Recap of Major Events Recap of Major Events

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Thank You Thank You

Quality, Delivery, Cost Quality, Delivery, Cost