Pacific Hospital Supply Co., Ltd.

Transcription

1 Pacific Hospital Supply Co., Ltd. Your Health, Our Mission Company Report Presented by Jacky Lee

2 Our Milestone 2011 Implemented Oracle ERP systems Expanded 11,997m2 of production capacity Constructed New factory (F4) on 15th January Issued its second series of secured domestic convertible bonds Obtained 7,085 m2 of land 2006 The automatic warehousing system was officially implemented in August 2005 Tong Lo (F3) formed to expand the production of sterilize medical product 2004 PAHSCO became a public listed company in the stock market 2002 Tong Lo (F1) received GMP Certification 2001 Tong Lo Factories received ISO Tong Lo (F2) constructed & expanded the production of gas piping products 1980 Started the production & trading of central medical gas equipments 1977 PAHSCO formed with a stock Capital of NT$ 1 Million 2

3 Factory Taiwan Miaoli 3

4 Certificate 4

5 Introduction to the Medical Product Industry and Future Global Market for Medical Devices and Equipments Steady growth year by year Unit :Million (USD) Prediction of Global Market 300, , , , , , , , ,000 50, ,126 Percentage of Global Market (2010) Eestern Europe, 5% Western Europe, 28% Asia, 19% Middle East and Africa, 3% America, 44% (e) 2012(f) 2013(f) Growth rate maintained between 5%-6% in recent years. Source: Espicom Business Intelligence(2011); IEK(2011/04) 5

6 Introduction to the Medical Product Industry and Future Prediction of Global Medical Product Market Estimated percentage of Global Market by country Estimated percentage by category Others 40% 2011(e) USD 256.3B United States 38% others 36% 2012(f) USD 270.3B Medical Disposal Devices 17% Diagnostic Imaging Products 24% France 4% Germany 8% Japan 10% Orthopodic and Implantable Products 17% Orthodonti c Products 6% Source: Espicom Business Intelligence(2011); IEK(2011/04)) 6

7 Medical Device and Equipment Industry in Mainland China Market Proportion Analysis 市場規模 Market Proportion 年均成長率 Avg. Annual Growth Rate Unit :Million (USD) 12,000 10,000 8,000 6,000 4,000 2,000 6,695 7,446 8,590 9,748 11,013 20% 15% 10% 5% E 2012F 2013F 0% China market has maintained 10% of the growth rate in recent years. Resource: IEK(2011/04) 7

8 Main Geographic Areas of Global Medical Device Market 8

9 Overall Index of Geographic Areas Developed Countries with Subcontract Manufacturing Focus Countries with Self-Branding Focus US Japan Germany China Taiwan Population (Million) Overall Index Age (0~14:15~64:65up) 20 : 67 : : 65 : : 66 : :73.6: : 73 : 11 Birth Rate:Death Rate 14 : 8 9 : 9 8 : : 7 9 : 7 Fertility Rate GDP (Million USD) 14,582,400 5,497,812 3,309,669 5,878, ,096 GDP per Capita(USD) 47,084 43,161 40,542 4,393 17,660 Medical Industry Index Economic Growth Rate 2.90% 5.10% 3.60% 10.3% 4.21% Health Expenditure per Capita(USD) Health Expenditure / GDP (%) Change of Health Expenditure per Capita Hospital Beds per 1000 persons (unit) Source: World Bank, Espicom, IEK 7,410 3,321 4, , % 8.30% 11.30% 4.6% 6.00% 3~4% Steady Growth Rate Adjusting (Negative growth approx. in every 5 years) Positive growth (Growth Rate not steady) 15% and above High-speed Growth Rate 2~3% Growth Rate

10 Population Structure of Geographic Areas Population of age above 65 Low birth rate in Taiwan, hence the Population Structure is aging. Country Percentage of population above age 65 Period of time expected 7% 10% 14% 20% 30% 7% 14% 10% 20% 20% 30% Taiwan Singapore South Korea Japan China United States Germany UK Italy Switzerland France Source:1. Council for Economic Planning and Development 2.United Nations, World Population Prospects:The 2006 Revision. 10

11 Major Exporting Countries and Percentage of Product Categories Major Exporting Countries Percentage of Product Categories Germany 7% China 8% Japan 26% 2012Q % 91.03% 7.10% 5.85% 2.50% 3.12% Others 30% US 9% Taiwan 20% % 87.30% 5% 6.60% 7.70% 2.90% 80% 85% 90% 95% 100% Medical Device Medical Equipment Piping System 11

12 Disposable Medical Devices Gynecology Irrigation and Suction Set, 2% Stomach Tube, 2% Wound Drainage System, 6% Connecting Tube, 8% Suction Catheter, 14% Respiratory, 2% Bottles, 2% CSS, 27% Others, 22% Close Suction System (CSS) Sales Revenue:332 Million % of Product TR: 27% (1 st ) Bags Sales Revenue:176 Million % of Product TR: 14% (2 nd ) Suction Catheter Sales Revenue:176 Million % of Product TR: 14% (3 rd ) Bags, 14% Respiratory Sales Revenue:24 Million % of Product TR: 2% 12

13 Financial Information ITEM / /1-9 EPS (0.23) ROE % (1.4) ROA % (0.93) Pay-out % Nil Nil - Net Profit Margin Net Cash per Share (1.12) *2010EPS 5.49 in the weighted average capital ; *2010EPS 6.37 in the year-end capital *2010Pay-out: $3 Cash Dividend and $1.12 Stock Dividend presented at the Shareholders Meeting. *2011Pay-out: $3 Cash Dividend and $1.00Stock Dividend presented at the Shareholders Meeting REMARK: Some accounts are not yet audited or certified by our CPAs; therefore, the quarterly financial statements certified (reviewed) by our CPAs are final.. 13

14 Financial Information * Ignore the evaluation loss of financial liabilities ITEM / /1-9 EPS ROE % ROA % Pay-out % Nil Nil - Net Profit Margin Net Cash per share *2010EPS 5.44 in the weighted average capital, 2010EPS 6.31 in the year-end of capital *2010Pay-out: $3 Cash Dividend and $1.12 Stock Dividend presented at the Shareholders Meeting. *2011Pay-out: $3 Cash Dividend and $1.00Stock Dividend presented at the Shareholders Meeting. REMARK: Some accounts are not yet audited or certified by our CPAs; therefore, the quarterly financial statements certified (reviewed) by our CPAs are final. 14

15 Medical Device Market Revenue Source: Frost & Sullivan 15

16 Respiratory Disposable Market Size Facts And Figures in China Inpatients % of Respiratory System Diseases City Hospital Countylevel Hospital Average % 16.46% 14.35% % 16.43% 14.42% 16

17 Sale Revenue in China Sales Revenue in China 114,553,771 73,169,333 82,997,012 38% 48,786,473 13% 50% Revenue 960,906,338 1,134,428,177 1,248,301,839 1,343,618,533 % of China 5.08% 6.45% 6.65% 8.53% 17

18 Information about the Leading Firms Kimberly Clark Covidien Resmed CareFusion Headquarter Texas Dublin SD,CA SD,CA Stock Exchange NYSE, BMV NYSE NYSE, ASX NYSE Stock Price (Jun. 29) Market Cap 32.85B 26.16B 4.42B 5.70B EPS(ttm) Sales Revenue (million) 20,846 11,574 1,243 3,528 Profit Margin 29.5% 56.83% 59.61% 51.16% Net Profit Margin 7.63% 16.14% 23.90% 6.91% Revenue in Respiratory Devices (% of TR) 400M** (2%) 752M (6%) 699M (56%) 176M** (5%) Source: Yahoo Finance, FR of the companies, *Global Data **estimated 18

19 Mask &Tubing Anesthetic Oxygen Therapy Aerosol Therapy Sleep Therapy Emergency Care Mask and Tubings for NIV Laryngeal Mask Airway Closed Suction Set ET tube Tracheostomy tube Guedel Airway Laryngoscope Related Products for Invasive Ventilation Filter/ Humidifer Filter Artificial Nose Nebulizer Active and Passive humidifier For Delivering Humidified or Warn Gas

20 Thank you for your attention & patience! Q&A 20