Upload
lamhuong
View
221
Download
2
Embed Size (px)
Citation preview
Taiwan Hon Chuan Confidential Proprietary
股票代號 Stock Number:9939.TT
BrandODMOEMLabelBottlePreformCap
Taiwan Hon Chuan Confidential ProprietaryTaiwan Hon Chuan Confidential Proprietary
公司簡介
Section 1.
Company Profile
Taiwan Hon Chuan Confidential Proprietary 3
公司簡介 About Hon Chuan
Establishment Date:July, 1969
President:Tsao, Hsih-Chung
Chairman:Dai, Hung-Chuan
Capital : NTD 2,928,788,790
Market Capitalization:NTD 16.3 bn [ NT. 55.5 / 2018.03.15 ]
Headquarters:Taichung, Taiwan
[ No.6, Gongyequ 2nd Rd., Xitun Dist., Taichung City 407, Taiwan ]
AreaEmployee Number
Plant Area (m2)Plant Floor Area (m2)
Taiwan 1,210 104,765 265,988
China 2,040 765,668 326,399
S.E. Asia 1,230 274,884 145,483
Africa 104 9,517 11,140
Total 4,584 1,154,834 749,010
Approved
Certificate
by clients
International
Quality
Certificate
ISO 9001 ISO 22001 HACCP
Food TQF OHSAS 18001 TOSHMS
FSSC 22000
COCA-COLA, PEPSICO,
Uni-President, SUNTORY, KIRIN,
ASAHI, ITOEN, TINGYI(Master Kong),
DANONE, CR Beverage, Wong Lo Kat,
JDB, Red Bull, OISHI, ICHITAN, POKKA
and so on...
Taiwan Hon Chuan Confidential Proprietary 4
股權架構圖 Holding Structure
THC
Samoa Hon Chuan
Hon Chuan AsiaHon Chuan Africa Hon Chuan China
Hon ShiSAMOA
ShimadaMozambique
Hon Shi
Myan
mar
HC
MalaysiaH
C
Vietn
amH
C
Ind
on
esia
HC
Thailan
dH
CHon Chuan FD
Packaging Co. Ltd.
Kai GangSamoa
Hong Hsing
Suzh
ou
HC
Ch
inSh
inH
C
Zhan
gzho
uH
C
Hu
be
iH
C
Suzh
ou
Ho
ngxin
Ch
angsh
aH
C
Jinan
HC
Taiyuan
HC
Quanhe,Anyang Hon Chuan
100%
100%
60%
100% 100%60% 70% 100% 100% 100% 100%
65%
100% 94.17%
100% 100%
100% 100% 100% 100% 100% 100% 100% 100%
Luo
he
HC
100%
Ho
nly
Ho
ldin
g
Co
., Ltd.
95%
Ho
nh
ua
Ho
ldin
gs C
o., Ltd
100%
100%
Cambodia Honly 100%
Taiwan Hon Chuan Confidential Proprietary 5
國際化佈局 Global Distribution
THC
Taiwan
Headquarters
President
Chairman
Taichu
ng 1
stPlan
t(G
rou
p H
ead
qu
arters)
Taichu
ng 2
nd
Plan
t
Taichu
ng 1
stAse
ptic
Filling P
lant (O
EM)
Taichu
ng 2
nd
Ase
ptic
Filling P
lant (O
EM)
Ru
ifang
Plan
t(U
ni-P
resid
en
t In-h
ou
se)
Taoyu
anP
lant
(Co
ca Co
la In-h
ou
se)
Ch
aiyiPlan
t(K
uan
gC
hu
an In
-ho
use
)
Taiwan China AfricaS.E.
Asia
Area Factories(Include In-House)
In-HousePlants
Taiwan 8 3
China 17 8
S.E. Asia 17 9
Africa 2 0
Total 44 20
Taichu
ng 3
rdA
sep
ticFillin
g Plan
t (OEM
)
Taiwan Hon Chuan Confidential Proprietary 6
國際化佈局 Global Distribution
Taiwan China AfricaS.E.
Asia
Area Factories(Include In-House)
In-HousePlants
Taiwan 8 3
China 17 8
S.E. Asia 17 9
Africa 2 0
Total 44 20
THC
China
HeadquartersVice President
General Manager
Su
zh
ou
HC
Pla
nt
(Ch
ina H
ead
qu
arters)
Su
zh
ou
Ho
ng
xin
gP
lan
t (O
EM
)
Ch
an
gsh
a P
lan
t(O
EM
)
Taiy
uan
Pla
nt
(OE
M)
Jin
an
Pla
nt
(OE
M)
Ch
en
gch
ow
Pla
nt
(Un
i-Pre
sid
en
t In-h
ou
se)
Ku
nm
ing
Pla
nt
Zh
an
gzh
ou
Asep
ticF
illing
Pla
nt
(OE
M)
An
hu
i Lu
an
Pla
nt
(C’est
bo
n In
-Ho
us
e)
Xia
n P
lan
t(C
oca-C
ola
In-h
ou
se
)
Gu
an
gd
on
g P
lan
t(O
EM
)
Ku
nm
ing
Pla
nt
(Pe
ps
i In-h
ou
se
)
Ch
en
gch
ow
Pla
nt
(JM
LIn
-ho
use)
Hu
bei X
ian
tao
Pla
nt
(OE
M, In
-ho
use)
An
hu
i Eastro
c P
lan
t(In
-ho
use)
Hen
an
An
yan
g P
lan
t
Hen
an
Lu
oh
eP
lan
t
Taiwan Hon Chuan Confidential Proprietary 7
國際化佈局 Global Distribution
Taiwan China AfricaS.E.
Asia
Area Factories(Include In-House)
In-HousePlants
Taiwan 8 3
China 17 8
S.E. Asia 17 9
Africa 2 0
Total 44 20
Myanmar
THC
S.E. Asia
Headquarters
Thailand Indonesia Vietnam Malaysia Combodia
HC
FD
Pla
nt (F
&D
JV
)
HC
Th
aila
nd
Pla
nt
(Un
i-Pre
sid
en
t In-h
ou
se)
HC
Th
aila
nd
Pla
nt
(S.E. Asia H
ead
qu
arters)
Th
aila
nd
Pla
nt
(Fo
od
Sta
r In-h
ou
se)
HC
Th
aila
nd
Pla
nt
(Te
ns
aiIn
-ho
use)
HC
Ma
lays
ia P
lan
t
HC
Mala
ysia
Pla
nt
(Co
co
ala
nd
In-h
ou
se)
HC
Vie
tna
m P
lan
t
HC
Vie
tna
m P
lan
t(T
ribec
oIn
-ho
us
e)
HC
Ind
on
es
ia P
lan
t(F
uta
miIn
-ho
use)
HC
Ind
on
es
ia P
lan
t(A
BC
Pre
sid
en
t In-h
ou
se)
PT. H
C In
do
ne
sia
Pla
nt
Mya
nm
ar p
lan
t
Ind
on
es
ia A
se
ptic
filling
Pla
nt
Ca
mb
od
ia P
lan
t(M
arry
JV
)
Mya
nm
ar K
H p
lan
t
Vice President
General Manager
Mya
nm
ar L
oiH
ein
pla
nt
Taiwan Hon Chuan Confidential Proprietary 8
國際化佈局 Global Distribution
Provide plastic caps to local clients and export to nearby countries,also, planning to have joint venture with top beverage companies in Africa
Africa Snapshot
Population 1.07 billions
Per capita GDP USD 2,600
Avg. GDP growth rateEast Africa 6.7%, North Africa 4.4%,
West Africa 6.1%, Mid Africa 5.8%,
South Africa 3.5%
Mozambique Snapshot
Capital Maputo
Population 26 millions
Per capita GDP USD 650
Language Portugal
Jet lag 6 hrs later than Taiwan
Set up a Joint Venture company with local client, started in 2016/08
Taiwan China AfricaS.E.
Asia
Area Factories(Include In-House)
In-HousePlants
Taiwan 8 3
China 17 8
S.E. Asia 17 9
Africa 2 0
Total 44 20
THC
Africa
Headquarters
Mozambique
Hon Shi
Plant
Mozambique
Shimada
Plant
Taiwan Hon Chuan Confidential Proprietary 9
Group revenue ratio of each products
食品包材 飲料代工 其他
2016Revenue
Ratio
Packaging 68%
ClosurePlastic caps, Aluminum caps,Metal Lug caps
Label
PET/OPS/PVC shrinkable label, OPP colorful label, LDPEshrinkable filmfor multipacks
Bottle Preform, PET Bottle
Beverage OEM 27%PET aseptic
beverage fillingTaiwan, China, S.E. Asia
TR aseptic
beverage fillingTaiwan
PET HF beverage
fillingTaiwan, China, S.E. Asia
Other 5%Cigarette and Beer packaging Material trade
Plastic
caps
Aluminum
caps
Metal Lug
caps
Label
LDPE
shrinkable filmPreform
PET
Bottle
Beverage filling OEM
Cigarette
and Beer
packaging
Material
產品介紹 Products
Taiwan Hon Chuan Confidential ProprietaryTaiwan Hon Chuan Confidential Proprietary
財務與營運資料
Section 2.
Financial Information
Taiwan Hon Chuan Confidential Proprietary 11
集團營收趨勢 Group Sales Revenue
Cu
rren
cy : N
TD
. 10
0 m
illion
Taiwan
China
S.E. Asia
Africa
0
20
40
60
80
100
120
140
160
180
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
29.9 37.0 50.0 53.8
63.6 64.1 69.4 73.0 78.2 71.3
70.6 73.9 21.5
27.0
34.5 37.2
46.6 57.3
58.3 60.0 59.0 59.6 59.2 59.2
2.4
4.5
7.5 9.2
14.0
15.5
28.1 33.0
35.1 34.9 34.4
40.9 0.9
1.2
68.5
92100.2
124.2
136.9
155.8166
172.3165.8
53.8
165.1Total175.2
Taiwan Hon Chuan Confidential Proprietary 12
營運表現合併資產負債表 Balance Sheet (Consolidated)
Currency : NTD Million2014 2015 2016
2017Sep. 30
YOY(%)
Item 2015 2016 2017 Sep. 30
Total Assets 29,197 29,118 27,391 28,365 -0.3% -6% +1%
Cash 2,066 2,422 2,415 2,336 +17% -0.3% +8%
NR & AR 2,337 2,522 2,436 3,761 +8% -3% +8%
Inventory 1,990 1,749 1,746 1,902 -12% -0.2% +29%
Fixed Asset 19,139 18,796 17,991 17,268 -2% -4% -5%
Total Liabilities 17,528 16,115 14,715 15,267 -8% -9% -1%
NP & AP 769 659 1,123 1,181 -14% +70% +39%
Total Equity 11,669 13,003 12,676 13,098 +11% -3% +1%
A/R Turnover Ratio(Time) 7.67 6.72 6.55
Inventory Turnover Ratio(Time) 7.07 7.22 7.5
A/P Turnover Ratio(Time) 18.44 18.92 17.69
Taiwan Hon Chuan Confidential Proprietary 13
營運表現合併綜合損益表 Income Statements (Consolidated)
Currency : NTD Million2014 2015 2016
2017Q1-Q3
YOY(%)
Item 2015 2016 2017 Q1-Q3
Revenue 17,226 16,578 16,511 14,054 -4% -0.4% +6%
COGS 14,426 13,513 13,108 11,236 -6% -3% +8%
Gross Profit 2,801 3,066 3,402 2,818 +9% +11% -1%
Op. Profit 1,150 1,264 1,671 1,466 +10% +32% -5%
Pretax Income 1,141 1,031 1,498 1,552 -10% +45% +12%
Tax 206 145 308 302 -30% +112% +8%
Net Income 935 886 1,190 1,250 -5% +34% +13%
Net Income(Attributable to Parent Company)
966 949 1,178 1,182 -2% +24% +9%
After Tax EPS(NTD Dollar) 3.72 3.26 4.02 4.03 -12% +23% +9%
Gross Margin(%) 16.26% 18.49% 20.6% 20.05%
Operating Margin(%) 6.68% 7.62% 10.12% 10.43%
Net Margin(%) 5.61% 5.72% 7.13% 8.41%
Taiwan Hon Chuan Confidential Proprietary 14
營運表現自結集團營收 Group Sales Revenue
Area2018 2017
Growth %Jan to Feb
Taiwan 1,155 968 +19%
China 1,003 991 +1%
S.E. Asia 669 569 +18%
Africa 29 23 +26%
Total 2,856 2,551 +12%
Currency : NTD Million 2018 Jan to Feb 2017 Jan to Feb
Taiwan,
41%
China,
35%
S.E. Asia,
23%
Africa, 1%
Taiwan,
38%
China,
39%
S.E. Asia,
22%
Africa, 1%
Taiwan Hon Chuan Confidential Proprietary 15
產品銷售結構 Sales Construction
China S.E. AsiaTaiwan
Jan to Feb
Plastic cap , 27%
Metal lug cap, 1%
Preform, 37%
PET bottle ,
12%
Label , 6%
Beverage Filling
OEM, 17%
Aluminum cap , 7%
Label , 7%
Metal lug cap, 3%
Plastic cap , 9%
PET bottle , 19%
Cigarette
filter , 11%
Beverage
Filling OEM,
28%
Others, 17%
Plastic cap ,
57%
Preform, 13%
PET bottle , 7%
Label , 2%
Beverage Filling
OEM, 22%
Taiwan Hon Chuan Confidential Proprietary 16
重要客戶群 Key Customers
Taiwan Hon Chuan Confidential ProprietaryTaiwan Hon Chuan Confidential Proprietary
公司策略與佈局
Section 3.
Corporate Strategy
Taiwan Hon Chuan Confidential Proprietary 18
台灣總部 Yearly Development in Taiwan
No.1
Cooperating with top 5 beverage companies in every countries, actively participating in international packaging exhibition activities. Marketing as base, then build up factories.
1Taiwan headquarters as group leadership
Establishing headquarters to integrate corporate resources, actively cultivating international talentedpeople and offer comprehensive resources to oversea branches.
2 Global markets expansion
Beverage packaging and filling OEM company
Taiwan Hon Chuan Confidential Proprietary 19
佈局大陸 Yearly Development in China
1Keep adjusting production lines : enhance capacity utilization rate
2Optimized products’ combination : innovative packaging products
3Deep cooperation :strategical cooperation with main clients
4 Carefully control costs
Beverage packaging and filling OEM companyTop3
Taiwan Hon Chuan Confidential Proprietary 20
東南亞新廠投產 New Plants in S.E Asia
Myanmar
Thailand
Indonesia
Food Star Thailand 2015/10
Tensai Thailand 2017/4QMyanmar HC 2015/11
Myanmar KH 2016/10
Myanmar Loi Hein 2018/1Q
Cambodia
Surabaya HC 2016/1Q
Cambodia Honly 2015/08
Taiwan Hon Chuan Confidential Proprietary 21
柬埔寨宏莉廠 Combodia Honly Plant
Brand
15,935
64,022
1月 2月 3月 4月 5月 6月 7月 8月 9月 10月 11月 12月
2017年銷售量
全年共約50萬箱
6.9
GDP growth2017
%
Population(Million)
1576
+ Labor force: 60% of total population+ Major industry:
Agriculture/Textile/Travel+ Food Market:
Consumption is still limited, and gap between rich & poor is huge, market sentiment is quite similar with10-year ago Vietnam. However, due toeconomic development, it is expectedto grow stably
+ Food consumption Value:Reach USD 6 billion in 2018(YOY +3%)
Source: ITIS
CambodiaSnapshot
Taiwan Hon Chuan Confidential ProprietaryTaiwan Hon Chuan Confidential Proprietary
新產品新技術
Section 4.
New Products and Technology
Taiwan Hon Chuan Confidential Proprietary 23
新產品新技術 New Products and Technology
QR Code Plastic Cap Hologram Aluminum Closure Soy Sauce Cap Soft Package Cap
Barrelled water Cap PVC Free LUG Cap Oxygen/ Light barrier bottle Customized bottle
Innovation to enhance the value of products
Taiwan Hon Chuan Confidential Proprietary 24
新產品新技術 New Products and Technology
Internet of Things (IoT)
One Code for One Bottle,
THC has acquired LASER facilities, 10-year patents of QR Code Coding for caps and labels in Taiwan and China.
2nd step cooperation with ITRI, technology transfer to set up company, in order to expand QR Code service in different industries
10 Functions
Food Traceability
Protect Your Brand
E-commerce
Managing Products
Ad & Publicity
Promotion
Questionnaire Surveys
Big Data Analysis
Channel Management
ProductionInformation
QR Code Service
Brings New Business
Taiwan Hon Chuan Confidential Proprietary
股票代號 Stock Number:9939.TT
www.honchuan.com.tw