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3689 UDE Gary Chen July 2013 Disclaimer The information contained - PowerPoint PPT Presentation

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3689 UDE Gary Chen July 2013 Disclaimer The information contained in this confidential document ("Presentation") has been prepared by UDE (the "Company"). It has not been fully verified and is subject to material updating,

  1. 3689 UDE Gary Chen July 2013

  2. Disclaimer • The information contained in this confidential document ("Presentation") has been prepared by UDE (the "Company"). It has not been fully verified and is subject to material updating, revision and further amendment. • While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers gives, has given or has authority to give, any representations or warranties (express or implied) as to, or in relation to, the accuracy, reliability or completeness of the information in this Presentation, or any revision or supplement thereof, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as "Information") and liability therefore is expressly disclaimed. Accordingly, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers takes any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness or injury of the Information or for any of the opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Presentation or the information. • Neither the issue of this Presentation nor any part of its contents is to be taken as any form of commitment on the part of the Company to proceed with any transaction and the right is reserved by the Company to terminate any discussions or negotiations with any prospective investors. In no circumstances will the Company be responsible for any costs, losses or expenses incurred in connection with any appraisal or investigation of the Company. In furnishing this Presentation, the Company does not undertake or agree to any obligation to provide the recipient with access to any additional information or to update this Presentation or to correct any inaccuracies in, or omissions from, this Presentation which may become apparent. • This Presentation should not be considered as the giving of investment advice by the Company or any of its shareholders, directors, officers, agents, employees or advisers. Each party to whom this Presentation is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. In particular, any estimates or projections or opinions contained herein necessarily involve significant elements of subjective judgment, analysis and assumptions and each recipient should satisfy itself in relation to such matters. • This Presentation includes certain statements that may be deemed “forward ‐ looking statements”. All statements in this discussion, other than statements of historical facts, that address future activities and events or developments that the Company expects, are forward ‐ looking statements. Although the Company believes the expectations expressed in such forward ‐ looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward ‐ looking statements. Factors that could cause actual results to differ materially from those in forward ‐ looking statements include market prices, continued availability of capital and financing, general economic, market or business conditions and other unforeseen events. Prospective Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in forward ‐ looking statements.

  3. World No. 2 in RJ ‐ 45 Port Revenues Founded in 2005 RJ45 Revenues (US$m) Ticker: 3689 TT 4,100 Full Time Employees Dedicated Mfg of Integrated RJ ‐ 45 Ports 2012 Revenue of NT$3.9Bn  Headquarters: Taoyuan, Taiwan  Deyang, Sichuan, China Plant: High Volume Mass Production  Donguan, Guangzhou, China Plant: Product and Automation R&D, High Value ‐ Added Production ‐ 50 100 150 200 250 Note: Bel Fuse recently acquired the RJ45 port business of TE Connectivity. This chart includes the TE Connectivity revenues in Bel Fuse’s total revenues. 3

  4. Executive Summary We are a Global Leader in Ethernet • Technology Applications. We are the rare manufacturer that is • able to combine automated volume production capability with a high degree of product customization. To maintain our cost leadership, we • tirelessly re ‐ engineer our management and production methods. We aim to produce superior returns for • our investors. Over the past three years, net margin has exceeded 10% and ROE 25%. 4

  5. The UDE Way 5

  6. The UDE Way Soft Power UDPS Lean Production System Production Line Automation Strict Cost Management 6

  7. UDE Soft Power: Create, Destroy, Recreate It extends from Chairman to CEO to Plant Manager to • Line Operator. We create it from the bottom up, with comprehensive • training for each new employee. All employees are assigned to a specific production • group. Each group is encouraged to innovate and improve • upon current production techniques. With each new sunrise, the previous day’s production • methods are considered obsolete. 7

  8. Representative Principles of Soft Power  Training for employees in UDPS methods in Japan and Taiwan  Work groups are promoted as a team Employee Employee Development Development  Production requirements double with each promotion  Production lines to eventually have only technicians, no operators  Discourage frequent overtime  Show concern for staff contentment on the job Work Smart Work Smart  Emphasize teamwork, communication and efficiency  Overthrow the traditional principles of production Creative Destruction Creative Destruction  Do not be satisfied with the status quo 8

  9. The Fruits of UDPS + Automation More efficient production and higher profitability 2010 v 2009 2011 v 2010 2012 v 2011 NT$ million 70% 62% 1,000 35% 60% 28% 27% 27% 30% 26% 800 50% 662 25% 39% 26% 40% 600 20% 19% 19% 483 30% 408 15% 400 13% 16% 20% 12% 10% 10% 200 10% 5% 5% 34 0 0% 0 0% 2008 2009 2010 2011 2012 ‐ 6% ‐ 10% ‐ 7% 組裝線人力成長率 產出量成長率 Growth in number of operators Growth in unit production 9

  10. Assembly － TPS implementation ~2008 2008~2009 2010~2012 2013 Linear line U Line implementation Small U line Advanced U line  70~130 OPs  25~30 OPs  8~12 OPs  3~5 OPs OP Production line PPH Capacity/hr Linear line 80 1 10 pcs 800 pcs 10 U line 80 80 pcs 6,400 pcs (8 P/line) 10

  11. Experienced and Stable Int’l Mgmt Team Gary Chen Founder and Chairman Over 25 ‐ yrs experience Vice Chairman and President, SpeedTech Chris Chen, President Elton Wu 20 ‐ yrs experience CFO Vice President, SpeedTech 18 ‐ yrs experience Manager of Mfg Technology, Delta Accounting Manager, Delta Electronics Eric Shih, Head of Sales Abulla Yu 16 ‐ yrs experience Head of R&D Sales Manager, SpeedTech 16 ‐ yrs experience Supervisor – Sales, Delta Electronics Vice Manager of R&D, Delta Electronics Justin Chang Abel Lu Vice President of Guangdong Factory Vice President of Sichuan Factory 20 ‐ yrs experience 25 ‐ yrs experience SpeedTech KunShan Plant Manager SpeedTech Dongguan R&D Manager Alan Wang Tony Huang Head of Audit and Head of IR Executive Assistant to the Chairman 18 ‐ yrs experience 18 ‐ yrs experience TongLung Industry, CFO, Technology Quartek Executive Assistant to the Chairman 11

  12. The UDE Way 12

  13. UDE is a rarity – a high volume, low cost leader that also offers a highly customized product  Wide range of electrical characteristics and structural options  Highly customized with low volume production run capability Product  8,100 active part numbers Offering  4,500 different models produced each month  Low single client risk : 60% of sales from top ten clients  No client accounts for more than 15% of sales, only one client accounts for more Customer Base than 10%.  730 active client accounts.  Barriers to entry are high  RJ45 Jack industry has only a handful of major players Industry  These are UDE, Foxconn, Bel Fuse, Molex and Pulse Attributes  Bel Fuse has the most advanced technology  UDE is the largest scale producer and the low ‐ cost leader 13

  14. High Entry Barriers for Conventional Connector Producers RJ45 port production requires mastery of conventional connector production techniques and additional techniques specific to high speed data transfer Conventional Connector RJ45 Port RJ45 Port Mechanical Precision High Speed Transmission Structural Design Electronic Fine Tuning Precision Injection Noise and EMI Reduction High Speed Stamping Network and MB Protection Precise Mold Design Circuit Design 14

  15. UDE Possesses Excellent Electromagnetic Signal Processing and Customization Capability Signal Input Signal Filtering System Protection Signal Output Integrated Surge/ESD Protection Filter RJ45 LAN Cable Ethernet IC Noise Filtering Protection of networking IC Signal Purification and motherboard EMI Control Customized high frequency electromagnetic impedance design to match customer systems Goal ： Maintain high S/N ratio to guarantee complete and rapid signal transmission to the network IC on client motherboard 15

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