2015/08/13 LuHai Holding 2015H1 Business Review

2015/08/13 LuHai Holding 2015H1 Business Review

LU HAI HOLDING CORP.
F－六暉 ( 2115 ) 2015H1 Business Review
Date ：2015 / 8/ 13
Safe Harbor Notice
This presentation and discussion contain certain forward-looking
statements with respect to the result of operation, financial condition
and current expectation. The forward-looking statement are subject
to know and unknown uncertainties and risks that could cause actual
results to differ materially from those expressed or implied by such
statements.
Therefore, please refer to the information on MOPS
website as the main basis if any adjustment has been made. LUHAI
undertakes no obligation to update these forward-looking statements
for events or circumstances that occur subsequent to such date.
( http://mops.twse.com.tw)
1
Company Profile
Foundation：2009.10.19
 Stock Listing：2013.12.25
Chairman：Wu, Chin-Lu
 General Manager：Simon Hsu
Production：
( 2015H1)
• Valves 81.80 %
•Accessories and others 18.20 %
Subsidiary location：
• Taiwan (1983)
• Kunshan(1997)
• Xiamen (1990, 2000)
• Indonesia (2011)
Number of employees： 1,429 (base date 2015/7/31)
Capital ：NTD 744.95 million
Production Capacity：60 million pcs / Month
2
History
year
Milestone
1980
 Liuho Established in Changhwa, Taiwan
1983
 Luhai Industrial Corp. Established in Changhwa, Taiwan
1990
 Xiamen Xiahui Rubber Metal Industrial Co., Ltd. Established
1997
 Luhai Rubber Metal Industrial (Kunshan) Co., Ltd. Established
2000
 Luhai Metal Co., Ltd. ( 2011 M&A by XIAMEN XIAHUI )
2002
 Approved by MICHELIN China
2009
 Lu Hai Holding Corp. Established in Cayman Islands
2011
 Approved by BRIDGESTONE (Japan)
 PT. Luhai Industrial Established in Jakarta Indonesia
2012
 LUHAI awarded “The Well-Known Brand in China”
2013
 awarded Top 10 Happiness Enterprise in Xiamen China
2014
 LUHAI awarded the 2nd “Excellent Taiwan Brand”
3
Subsidiary
Sub.
(location)
Plant Area
(square meters)
LH
(Changhwa,T
aiwan)
4,899
X plant
12,820
Category
Taiwan domestic market
1. BC, MC, electirc MC
2. 40% domestic market
(south China), 60% export
XH
(Xiamen,
China)
MH plant
16,438
TPMS Valves,
Precision CNC parts
4
Subsidiary
Sub.
(location)
KH
(Kunshan,
China)
IH
(Jakata,
Indonesia)
Plant Area
(square
meters)
36,138
57,777
Category
1. PC, T/B, L/T, AG, Otr
2. 70% domestic market (East /
North China) , 30% export
1. MC
2. Indonesia market
( outlook: ASEAN and Moslem
market)
5
Revenue breakdown
2015H1
2014
3.35%
17.65%
24.69%
22.39%
4.92%
18.20%
23.20%
18.36%
31.92%
35.32%
腳踏車BC
機車、電動摩托車MC, electric MC
汽車、卡車及非道路用車類PC, T/B, L/T, AG, Otr
TPMS類
配件及其他accessories and others
6
Revenue breakdown
2015H1
2014
25.13%
47.29%
27.58%
25.39%
42.63%
31.98%
中國地區China
印尼地區Indonesia
其他others
7
Financial Results
NTD thousand
2012
Sales
2013
2014
2015H1
2014H1
2,163,061
2,400,859
2,633,761
1,298,619
1,325,091
Gross Profit
384,691
444,094
553,696
280,211
275,020
Gross Profit%
17.78%
18.50%
21.02%
21.58%
20.75%
Operating Expense
251,534
249,495
261,402
128,665
132,258
Operating Expense%
11.63%
10.39%
9.93%
9.91%
9.98%
Operating Profit
133,157
194,599
292,294
151,546
142,762
Operating Profit%
6.16%
8.11%
11.10%
11.67%
10.77%
Net Profit
90,765
106,825
230,569
123,494
114,325
Net Profit%
4.20%
4.45%
8.75%
9.50%
8.63%
601,000
676,140
709,947
744,947
676,140
1.51
1.77
3.25
1.70
1.61
USD0.035
0.5+0.5
2.09663694
－
－
Capital Stock
EPS
Dividend
8
Financial Results
Sales
NTD thousand
680766
650772 696019
647847 627904 643547
629072
700000
589138
599162
569012
600000
500000
2013
400000
2014
300000
2015
200000
100000
0
Q1
Q2
Q3
Q4
9
Financial Results
Profit Index
25.00%
20.00%
21.31% 21.28%
20.40% 20.64% 20.86%
19.63%
16.87%
22.52%
20.64%
16.89%
15.00%
10.00%
8.83%
6.28%
5.00%
6.09%
3.71%
12.09% 12.17%
10.60%
10.74% 10.37%
9.32%
9.61%
9.26% 8.53% 8.96%
6.45%
7.54%
12.97%
10.06%
5.21%
2.72%
0.00%
2013Q12013Q22013Q32013Q42014Q12014Q22014Q32014Q42015Q12015Q2
Gross Profit %
Operating Profit %
Net Profit %
10
Key Message
Depreciation
NTD thousand
80,000
60,000
57,387
63,086
1480
1465
36,155
1468
1458
1460
20,000
1440
-
2012
3.00
1492
1500
68,138
40,000
10 thousand
PCS
4.00
Group Headcount
Number
2013
2014
Monthly Production (per
employee)
3.58
2.65
2012
2015H1
3.64
3.05
NTD thousand
150
100
2.00
50
1.00
2012
2013
2014
2015H1
2014
2015H1
Monthly Revenue/ Production
Value (per employee)
150
137
121
88
2012
0.00
2013
99
2013
人均貢獻月營收
148
110
2014
106
2015H1
人均月產值
11
Key Message
EBDITA
NTD thousand
ROA
10.00%
9.25%
8.99%
8.00%
300,000
201,806
6.00%
4.00%
364,768
400,000
230,175
194,053
200,000
4.78% 5.18%
100,000
2.00%
0.00%
2012
2013
2014
2015H1
-
2012
ROE
2013
2014
2015H1
EBDITA Margin
20.00%
13.84%
15.00%
13.38%
10.00%
5.00%
14.94%
15.00%
13.85%
10.00%
6.94% 7.47%
5.00%
0.00%
9.33%
9.59%
0.00%
2012
2013
2014
2015H1
2012
2013
2014
2015H1
12
Key Message
Debt Ratio
Cash Flow from Operating
37.00%
NTD thousand
200,000
150,000
36.15%
36.00%
157,584
165,752
132,769
35.00%
34.48%
34.00%
105,971
33.95%
34.51%
33.00%
100,000
32.00%
50,000
2012
-
2012
2013
2014
2015H1
BVPS
NTD
25.25
26
25.51
22.01
22.76
2014
2015H1
EPS
NTD
4
3.25
3
2
24
2013
1.51
1.77
1.61
1.7
1
22
0
2012
20
2012
2013
2014
2015H1
2013
2014
2014H1 2015H1
13
Key Message
1. Base on current business outlook, our target is set to
expand global market share in valves industry.
2. Traditional valve is turning back to a good market
order, TPMS valve market demand is expected to
increase, we keep optimistic view of the valve industry
prospects.
3. Our advantage and we will keep on focus:
i)Largely automatic equipment
ii)Global Top One professional valve manufacturer on
Capacity/ Production
iii)Recycle Copper Scrap
iv)Diversify operation risk: China and Indonesia two bases
14
http://www.luhai.com.tw
E-MAIL://[email protected]