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1 www.passivecomponent.com 2016 Investment Forum Walsin Technology Corp. (Stock code: 2492) presented by Walsin Technology Corporation Date Updated: Sept, 22, 2016
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2016 Investment Forum
Walsin Technology Corp. (Stock code: 2492)
presented by
Walsin Technology Corporation Date Updated: Sept, 22, 2016
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Financial Performances of Walsin Q1 2014 to Q2 2016
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WTC quarterly financial result of 2014~2016_1H
In Million NTD Except NTD for Earnings Per Share
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2014~2016_1H Net sales, Gross profit & Operating Income Trend
Net Sales
Operating Income Gross Profit
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R&D contribution to growth momentum
High Capacitance MLCC RF MLCC High Voltage MLCC Miniaturized MLCC Soft Termination MLCC Automotive MLCC
LTCC Filter SAW Filter Antenna Switch Module NFC & WPC Antenna
Thin Film Resistor High Precision Resistor High Power Resistor Automotive Resistor Pb Free Resistor
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World economic outlook projections as of Jul. 2016
The baseline has been revised down modestly relative to the April 2016 WEO
Uncertainty of “Brexit” complicates the already difficult task of macroeconomic forecasting.
The global outlook for 2016-17 has worsened, despite the better-than-expected performance in early 2016.
Growth in most advanced economies remained lackluster. Improvement from emerging markets such as Brazil and Russia. In particular, China and India remain a steady growth with a 6.2% and 7.4% respectively.
Data Source: IMF World Economic Outlook Update, Jul. 2016
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Global passive component market outlook (ceramic capacitors)
Data Source: Passive Electronic Components World Market Outlook 2016-2021 published by Paumanok Research in March. 2016
Global consumption volume of ceramic capacitors 2014-2018
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Global passive component market outlook (chip resistors)
Data Source: Passive Electronic Components World Market Outlook 2016-2021 published by Paumanok Research in March. 2016
Global consumption volume of chip resistors 2014-2018
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Global smart phone market updates
Research firm International Data Corp. estimated 2016 global smartphone shipments growth of 3.5% with a volume of 1.48 Billion units.
Influenced by the high demand of emerging markets, shipments for mid to high end smart phone will remain strong
Data Source: International Data Corporation, June. 2016
Global smartphone shipments forecasts to 2018
Unit in million units
G ro w th % 2015 2016 2017 2018 2019 2020
S m a rt M o b ile 10.1% 3.5% 6.5% 18.6% -0.6% -1.2%
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Worldwide smartphone shipments & China vendor market share
Data Source: CIW Team, May 12, 2016
Data Source: International Data Corp Tracker, April 2016
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Global server market updates Gartner says worldwide server shipments increased by 1.7% in the 1Q 2016
The real driver of global growth continues to be the hyperscale data center segment. The enterprise and small or midsize business (SMB) segments remain relatively flat as end users in these segments accommodated their increased application requirements through virtualization and considered cloud alternatives
Data Source: Gartner, June 2, 2016
2014 2015 2016 2017 2018
m sh ip m e n t 10.09 11 11.13 11.7 12.1
G ro w th % 2.0% 9.0% 1.2% 5.1% 3.4%
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Global connected car market updates Over 380M connected cars will be on the road by 2021.
Automakers are connecting the vehicles they sell because the connection offers clear business opportunities.
Consumers are adopting the connected car faster than expected, especially ADAS
Tech companies will play a major role in the future of the automotive market. The big question is whether tech companies will eventually manufacture cars?
Fully autonomous cars are only a few years away.
Global connected car shipment forecasts to 2021
Data Source: BI Intelligence, June 2016
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Global Wi-Fi equipment market updates
Data source: IHS, May. 2016
The global telecom service provider Wi-Fi equipment market totaled $713 million in 2015.
The global carrier Wi-Fi equipment market will double in size over the next 5 years, reaching $1.5 billion in 2020, and have a cumulative size of over $6.8 billion from 2016 to 2020 based on two market segments: standalone Wi-Fi access points predominantly deployed by fixed-line operators, cable multiple system operators (MSOs) and wireless internet service providers (ISPs). Plus, dual-mode Wi-Fi and cellular access points deployed by mobile operators.
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U.S. enterprise networking market updates
Data Source: Grand view research, May 2016
The global enterprise networking market size was USD 40.06 billion in 2015.
Increasing shift towards wireless adoption, expanding the mobile workforce, rising bandwidth requirements and growing base of mobile internet devices are the key factors which are expected to drive demand.
Growing adoption of virtualization technology and high demand for internet-enabled devices is expected to also contribute efficiently to industry growth.
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Walsin Technology 1H 2016 sales breakdown by region and segment
1H 2016 Sales breakdown by region 1H 2016 Sales breakdown by segment
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WTC Key products focus 2016 2H- 2017
MLCC: RF MLCC and HVMLCC ranges and capacity expansion High Temperature 150ﾟC ready in Q4 for Auto and Industrial market Feed through capacitor in 2017 for Telecom market Soft termination MLCC for industrial application
Chip R :
Automotive VDA 6.3 factory granted to serve top players Size 2512 thick film and metal 3W series available RoHS/Pb free series as top supplier competing with industry leading vendors.
RF : Continue Antenna, LTCC filter, ASM and Saw Filter expansion Thin Film :
3W series Thin Film will release in Q4 2016 Thin Film inductor available 1H 2017 Product range and capacity expansion ready from Q3-Q4 2016.
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Key business opportunities ahead
MLCC : 1) Expect to share the market of both Automotive and non-Auto segment that were previously dominated by Japanese vendors. 2) Weaker position of Korean vendor.
Chip R :
1) Environmental request drives Pb free demand surging up from 2016 in SSD, Server device 2) Automotive electronics demand surge with double digit YoY growth.
RF : IoT, Wi-Fi, and smart phone demands up without question. Thin Film :
A must for high reliability device with >10 years life span. High precision and long-term stability of Thin Film ensure a steady demand in industrial, and other reliability-oriented applications.
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