2017 Third Quarter Results

Transcription

1 (HKEx: 02018) 2017 Third Quarter Results 10 November 2017

2 Growth Accelerating CAPEX on Optics: unique innovative solutions well positioned for fast expansion of TAM and evolving UX Enlarged acoustic investment on new technology platforms to offer optimized design solutions for next growth phase Advanced Haptics gaining wider traction and promising AR applications likely speeding up adoption Equipped with different capabilities on RF Mechanical integrated solutions to capture market opportunities of ever-changing designs 1

3 YoY review: 9M 2017 vs 9M 2016 Record-setting revenue and net profit, up 43% and 42% respectively, thanks to dual growth drivers from Acoustic and Non-Acoustic segments Acoustic, up 20%, accounting for 48% of total sales. Both shipments and ASP growth on high end solutions, witnessing wider adoption of upgraded stereo sound designs and waterproof features Non-acoustic, up 79%, accounting for 47% of total sales. Dollar-content growth in upgrading designs and greater penetration into different customers GP Margin at 41.1% and NP Margin at 25%, consistently stable at high profitability R&D (9M: 8.2%), increased R&D for new acoustic and optics directions to deliver innovative designs 2

4 YoY: 9M 2017 vs 9M 2016 Unit: RMB mn 9M M 2016 YoY Change Revenue 13,968 9, % Gross Profit 5,741 4, % Gross Profit Margin 41.1% 41.4% -0.3ppt Net Profit 3,493 2, % Net Profit Margin 25.0% 25.1% -0.1ppt Shares Numbers (Weighted average, million) 1,226 1, % Basic EPS (RMB) % 3

5 Revenue Breakdown (9M 2017) Other Products (Optics) 1% MEMS Components 4% Acoustic 48% (Dynamic components) Speaker box: 30% Receiver: 13% Speaker: 4% Acoustic 48% Non-acoustics 47% Non-acoustic 47% MEMS components 4% Other products (Optics) 1% 100% Top 5 Customers: 90% (9M 2016: 79%) 4

6 YoY review: Q vs Q A new Q3 record high revenue, rose 27%, driven by strong growth in shipments of major product platforms Acoustic grew 17%, contributing over 47% of total sales; attributed to sharp shipments increase of Speaker box across all major customers RF Mechanical and Haptics, grew 29%, contributing over 45% of total sales Well-recognized optical solutions, shipping to top PRC customers 5

7 YoY: Q vs Q Unit: RMB mn Q Q YoY Change Revenue 5,324 4, % Gross Profit 2,199 1, % Gross Profit Margin 41.3% 41.8% -0.5ppt Net Profit 1,366 1, % Net Profit Margin 25.7% 26.2% -0.5ppt Shares Numbers (Weighted average, million) 1,222 1, % Basic EPS (RMB) % 6

8 Index inclusion Hang Seng Index MSCI China Index FTSE Hong Kong Index Hang Seng Corporate Sustainability Index Hang Seng China 100 Index Hang Seng China (Hong Kong-listed) 25 Index Hang Seng IT Hardware Index Hang Seng Composite LargeCap Index Hang Seng Composite Industry Index (Information Technology) 7

9 Disclaimer The performance and the results of operation of AAC Technologies set out in this presentation are historical in nature and past performance is not a guarantee of future performance. Certain statements made herein are forward-looking or which use certain forward-looking terminologies. These forward-looking statements are based on the current beliefs, assumptions and expectations of the Board of Directors of AAC Technologies regarding the industry and markets in which it operates. Actual results may differ materially from expectations discussed in such forward-looking statements and opinions. AAC Technologies, the Directors, employees and agents of the Company assume (a) no obligation to correct or update the forward-looking statements or opinions contained in this presentation; and (b) no liability in the event that any of the forward-looking statements or opinions do not materialize or turn out to be incorrect. Investors should carry out their individual due diligence research and should not make their investment decisions based on any information or representations contained herein.