Qisda Corporation (Formerly BenQ Corporation) Q2 2007 Investor Briefing August 23, 2007 Meeting Overview � Q2 Financial Highlights � Q2 Business Update � Q3 Guidance Qisda Confidential 2007 1
Safe Harbor Notice We have made forward-looking statements in the presentation. Our forward-looking statements contain information regarding, among other things, our financial conditions, future expansion plans and business strategies. We have based these forward-looking statements on our current expectations and projections about future events. Although we believe that these expectations and projections are reasonable, such forward-looking statements are inherently subject to risks, uncertainties, and assumptions about us. We undertake no obligation to publicly update or revise any forward- looking statements whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events in the conference might not occur and our actual results could differ materially from those anticipated in these forward-looking statements. Qisda Confidential 2007 Q2 Financial Highlights 2
Q2 2007 Income Statement – QoQ Analysis Amount : NT$ Billion Except QoQ EPS Data Q1 2007 Q2 2007 Change% Net Sales 29.45 32.37 100.0% 100.0% 10% Cost of Goods Sold (26.76) (30.49) (90.9%) (94.2%) 14% Gross Profit 2.69 1.88 9.1% 5.8% -30% Operating Expenses (3.77) (3.79) (12.8%) (11.7%) 1% Operating Income (1.08) (1.91) (3.7%) (5.9%) 77% Net Non-op Items (0.68) 2.52 (2.3%) 7.8% -474% Income before Tax (1.76) 0.61 (6.0%) 1.9% -135% Income Tax (0.00) (0.04) (0.0%) (0.1%) - Net Income (1.76) 0.57 (6.0%) 1.8% -132% Fully Diluted EPS (NT$) (0.69) 0.22 Net Worth per Share (NT$) 6.83 6.91 � Sales growth was mainly contributed by Multi-function Printer and LCD � Sales growth was mainly contributed by Multi-function Printer and LCD Monitor. Monitor. � Operating loss was due to cleaning mobile inventory. � Operating loss was due to cleaning mobile inventory. � Non-op items mainly due to gain of selling AU Optronics shares. � Non-op items mainly due to gain of selling AU Optronics shares. Core business unaudited consolidated results. Qisda Confidential 2007 Key Financial Ratios Q1 2007 Q2 2007 A/R Turnover 43 days 44 days Inventory Turnover 52 days 50 days A/P Turnover 71 days 78 days ROA -1.8% 0.6% ROE -9.5% 3.2% Current ratio 92.7% 102.7% Debt / Total Assets 50.9% 44.5% � Cash conversion cycle was further improved to under 20 days. � Cash conversion cycle was further improved to under 20 days. � Current ratio and debt ratio were improved as planned. � Current ratio and debt ratio were improved as planned. Core business unaudited consolidated results. Qisda Confidential 2007 3
Q2 2007 Balance Sheet Highlights Amount: NT $ Billion QoQ Q1 2007 Q2 2007 Change Cash & Equivalent 11.30 11.6% 9.04 9.2% -2.25 Accounts Receivable 14.63 15.0% 16.84 17.2% 2.21 Inventories 14.58 15.0% 19.24 19.6% 4.66 L-T Investments 33.79 34.7% 31.22 31.8% -2.56 Total Assets 97.39 100.0% 98.03 100.0% 0.64 Debt 49.53 50.9% 43.62 44.5% -5.91 Accounts Payable 19.22 19.7% 25.49 26.0% 6.27 Total Liabilities 79.90 82.0% 80.34 82.0% 0.44 Equities 17.48 18.0% 17.69 18.0% 0.20 � Debt was reduced from 52.6 billion (Jan.2007) to 49.53 billion (Q1) and � Debt was reduced from 52.6 billion (Jan.2007) to 49.53 billion (Q1) and further to 43.62 billion (Q2). further to 43.62 billion (Q2). Core business unaudited consolidated results. Qisda Confidential 2007 Q2 Sales Breakdown by Business Unit: NTD 32.37 Billion 28.12 33 33 30 30 27 27 24 24 13.48 21 21 18 18 15 15 12 12 9 6 3 0 Branded ODM Consolidated Core Business � Branded business down slightly. � Branded business down slightly. � ODM business grew about 20%. � ODM business grew about 20%. Qisda Confidential 2007 4
Business Update Q2 Business Update ODM Business ( Qisda Core Business ) � LCD Monitor had mild growth. � Multi-function Printer performed very well due to new project phased in. � Sold the DSC division to Abico. Branded Business (New BenQ) � Overall revenue was decreased because of low season. � LCD TV, Joybook and DSC still maintained growth. Qisda Confidential 2007 5
Q3 Guidance Q3 Guidance � Branded business and ODM business will be spun-off effective on September 1st. � Q3 revenue is expected to grow because of high season. Qisda Confidential 2007 6
Qisda Corporation. Unaudited Core Business Consolidated Balance Sheet JUN. 30, 2007 UNIT : NT$K Assets Liabilities & stockholders' equity Current assets : Liabilities Cash & cash equivalent 9,014,401 9.2% Short term borrowings 11,796,873 12.0% Assigned financial asset measured at fair value－current 27,187 0.0% N/P & A/P 17,886,576 18.2% Net notes and accounts receivable 14,963,244 15.3% N/P & A/P to related partie 7,605,843 7.8% N/R & A/R from related parties 1,881,279 1.9% Bond payable 3,250,000 3.3% Net inventories 19,241,829 19.6% Acurred exp. & other current liab. 10,874,274 11.1% Prepaid expenses & other current assets 7,651,029 7.8% Total current liabilities 51,413,566 52.4% Total current assets 52,778,969 53.8% Long term loan 20,505,810 20.9% Long term investments 31,222,515 31.8% Bond payable 8,065,790 8.2% Fixed assets : 19,009,599 19.4% Other liabilities 358,873 0.4% Less : Accumulated depreciation (7,648,332) 7.8% Total liabilities 80,344,040 82.0% Total fixed assets 11,361,267 11.6% Stockholder' equities Other assets 2,668,320 2.7% Common stock 25,648,800 26.2% Capital surplus 3,974,317 4.1% Legal reserve 0 0.0% Unrealized gain or loss on financial product 269,651 0.3% Retained earnings (12,771,300) -13.0% Translation adjustment 643,624 0.7% Treasury stock (78,060) -0.1% Total stockholder' equities 17,687,032 18.0% Total Assets $ 98,031,071 100.0% Total Liabilities & stockholders' equity $ 98,031,071 100.0% Qisda Corporation. Unaudited Core Business Consolidated Income Statement JAN~JUN' 2007 Revenue detail (JAN~JUN'2007) UNIT : NT$K Net sales $ 61,822,982 100.0% Amount % Cost of goods sold (57,252,840) -92.6% Gross profit 4,570,142 7.4% Computing Products BG: $ 47,777,012 77% Operating expense : 10,118,183 16% Digital Media BG : S & M (4,514,844) -7.3% 2,788,695 5% Mobile BG G & A (1,275,896) -2.1% 1,139,092 2% other R & D (1,768,946) -2.9% Total $ 61,822,982 100% Total Operating expense (7,559,686) -12.2% Operating income (loss) (2,989,545) -4.8% Non-operating in net income(loss) 1,848,216 3.0% Earning Before income tax (1,141,329) -1.8% Income tax (44,104) -0.1% Minority interest in net income (loss) 0.0% Profit after tax ($1,185,433) -1.9%
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