2024
Investor Conference
Mayer Steel Pipe Corporation
Mayer has recently received
honors in external evaluations
Taiwan Institute of Directors：
Ranked 14th in Potential Intermediate Enterprises
(1st in Traditional Industries)
Common Wealth Magazine：
Ranked 6th among the top 100 traditional industries
First professional steel pipe manufacturing company in Taiwan
60 years of craftsmanship
After 60 years of craftsmanship , Mayer has accumulated profound connotations of products and services in the industry, reflecting the soft power of enterprise management everywhere.
Mayer realizes industrial
intelligent manufacturing
through gradual information transformation:
Informatization+
intelligent manufacturing
First professional steel pipe manufacturing company in Taiwan
Cost reduction
and efficiency increase + green production
Reducing costs and increasing
efficiency, and move towards
green production, which is in line
with the corporate governance and
ESG goals promoted by the state.
First professional steel pipe manufacturing company in Taiwan
Statements may contain "forward-looking statements" of the Company, which include, but are not limited to, statements of the anticipatory nature of future outlooks, projections and estimates, in addition to historical information provided in the presentations.
The forward-looking statements are based on the beliefs of the Company's management and their current views on future business development, and their contents may be affected by risks and uncertainties at any time, resulting in actual results differing from or inconsistent with those contained in the statements.
Any forward-looking statements made in the Prospectus are only applicable at the time of presentation and investors should carefully evaluate the relevant risks and benefits factors and objectively understand the forward-looking statements of the Company.
In addition to the provisions of laws and regulations, the company is not responsible for reminding or correcting any changes or adjustments in the future.
The above statement applies to all aspects of the briefing process
Safe Harbor Statement
IF you have any advice, please leave a question and your contact information in the message box, and you will reply individually after the meeting.
Reporting Outline
Business Outlook
Operational Overview
ESG work report
Financial Overview
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The Federal Reserve has cut interest rates three times since mid-September, totaling 1%, and is expected to improve inflation and drive the global economic recovery.
The economic and trade policy trends of the new US president and the intensification of global geopolitical risks may lead to conflicts such as dumping and tariffs and trade barriers.
The global steel overcapacity situation remains unchanged.
The external competitive environment, regulatory environment, and general economic environment
China's housing market is sluggish, steel demand has decreased sharply, and instead of reducing production, it has dumped it at low prices to the world, resulting in a sharp drop in steel prices and many steel mills facing significant losses.
In 2025, carbon fees will be levied in China, and the pressure of carbon reduction will spread, and the pressure on production and small and medium-sized enterprises will increase.
| 2024 Q1~Q3 | 2023 Q1~Q3 | 2023 | 2022 |
Steel | 3,939,112 | 4,953,660 | 6,343,769 | 6,555,002 |
Real estate investment | -72 | - | 489,616 | - |
Hotel service | 134,148 | 113,108 | 176,052 | 67,837 |
Investment | 1,491 | - | - | 1,506 |
Total | 4,074,679 | 5,556,435 | 7,009,437 | 6,624,345 |
Revenue Unit: NT$Thousand
Operation Overview : Revenue analysis
Unit: Ton
Operation Overview : Revenue analysis
Operation Overview : Sales region of major commodities：
6,591,726
417,711
6,132,730
491,615
Unit: NT$Thousand
Unit: NT$Thousand
3,767,463
307,216
5,247,684
308,751
Operation Overview : Sales region of major commodities：
Unit: NT$Thousand
Operation Overview : Main Business Locations
I、LUEN JIN ENTERPRISE CO
B、Pusin Factory�C、Youshi Factory
A、Mayer Steel Pipe
G、Mayer Inn
H、Mayi
E、Grand Tech
F、Diamond Steel Tube
D、Vietnam Mayer
Operation Overview : Main Business Locations
Operation Overview:Future Market Development of Carbon Steel Products
China's housing market is at a low level, but the specific steel industry maintains positive growth, and the Chinese government is expected to push economic policies next year, if it comes true, it will help support China's domestic steel demand and reduce exports. After the start of the cycle of interest rate cuts in Europe and the United States, interest rates and inflation are gradually under control, and the demand for manufacturing and construction industries is expected to recover simultaneously, which is conducive to increasing their external purchases.
The country's central bank introduced the seventh wave of credit
control measures in September, plus banks
The mortgage water level is on alert and the mortgage is tightened,
and the buyers and sellers are in a wait-and-see state.
Transaction volume is shrinking rapidly. The impact of the government's housing policy on steel pipes used in construction
It remains to be seen. In the short term, it will not have much impact on the demand for management of projects under construction.
It is expected that the steel market will be better in 2025. Worldsteel forecasts global steel demand to be 1.751 billion tonnes in 2024, down 0.9% y/y, and 1.772 billion mt in 2025, up 1.2% y/y, up nearly 20.6 million mt from 2024.
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The visibility of public works and new private construction projects is still relatively low, and it has yet to be guided by the government's policies and attract investment.
There is still a gap between the current raw material prices of domestic upstream steel mills and international prices, which affects the competitiveness of downstream production and marketing.
Pipes for machining, sports equipment and automobiles and locomotives are still conservative due to industrial and market adjustments.
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Operation Overview:Future Market Development of Carbon Steel Products
Recently, the prices of raw materials and various steel products have fluctuated a lot, and the number of low-price imports in Vietnam has gradually increased, and the market supply and marketing prices have gradually bottomed out.
The supply of domestic non-rigid steel products is greater than the demand, and the industrial pattern is difficult to correct.
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Operation Overview:Future Market Development of Stainless Steel Products
Year Company | 2023 | 2022 | ||
Sales volume | Sales value | Sales volume | Sales value | |
Vietnam Mayer | 6,880 | 264,650 | 8,441 | 337,994 |
Grand Tech | 7,345 | 479,861 | 7,653 | 471,998 |
Diamond Steel Tube | 11,487 | 646,621 | 14,080 | 836,397 |
Operation Overview : Overseas business development
Unit: NT$Thousand
Year Company | 2024 Q1~Q3 | 2023 Q1~Q3 | ||
Sales volume | Sales value | Sales volume | Sales value | |
Vietnam Mayer | 5,178 | 187,385 | 5,081 | 194,204 |
Grand Tech | 5,050 | 323,704 | 5,414 | 408,903 |
Diamond Steel Tube | 8,958 | 496,559 | 8,662 | 490,631 |
Operation Overview : Overseas business development
Unit: NT$Thousand
Operation Overview : Overseas business development
Operation Overview : Overseas business development
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Greenhouse gases : Completed the second year of ISO 14064-1 greenhouse gas inventory and completed the 112th annual external inspection, with a reduction ratio of 4.34%.
Environmental
Energy management : The air compressor was upgraded and replaced to improve the gas production efficiency, reduce leakage and energy consumption, and upgrade the galvanizing process heating equipment of the main production line to improve thermal efficiency, environmental protection and energy saving.
Green power generation : The company plans to add 808 kW of power generation capacity by 2025 to a total of 2,137 kW by the PV farm.
Water source environmental protection : New sewage treatment equipment is added to reduce metal ion emissions and achieve the effect of purifying water quality.
Air purification : Upgrade the zinc powder dust collection equipment of the galvanizing production line to reduce hot exhaust gas emissions and reduce dust emissions.
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Social
Occupational safety : Pay attention to occupational safety, implement personnel training and professional license management.
Talent retention and cultivation : fully implement online training and physical exchanges for management cadres and reserve supervisors.
Respect human rights : Diversity and inclusiveness, and provide a gender-friendly working environment.
Harmony of foreign workers : Conduct life conversation training for foreigners to make them more integrated into Taiwan's diverse society.
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Public Welfare Participation : Participated in the donation to the Pediatric Rare Disease Center of Shuanghe Hospital to help children from disadvantaged families with genetic screening and prognostic care.
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Governance
ESG sustainability report : Published the second ESG sustainability report.
Company rankings : In 2023, the corporate governance evaluation of the stock exchange has been upgraded again, and it is now second only to four companies such as CSC among steel stock companies.
Performance evaluation : The 113 Board Performance Review will be conducted early next year.
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Promoting Green Energy
In line with policies and social responsibilities we have built PV power generators on the roofs of our plants.
Year | 108 | 109 | 110 | 111 | 112 | 113 | 合計 |
Estimated Capacity Installed (kw) | 962 | - | - | - | 341 |
| 1,303 |
Actual Capacity Installed(kw) | 962 | - | - | - | 341 |
| 962 |
Electricity Output (kwh) | 801,540 | 1,070,596 | 1,023,956 | 999,588 | 1,043,314 | 1,243,172 (1-11月) | 6,182,166 |
From May 108 to November 113, the cumulative amount of green power generation has reached about 6,182 kilowatt-hours, the income from electricity sales has reached 32,272 thousand yuan, and the carbon reduction has reached about 3,060 tons, which is equivalent to the annual carbon dioxide absorption of 7.9 Daan Forest Parks.
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Financial Overview : Historical EPS and Dividends Paid
Profitable year | 107年 | 108 年 | 109 年 | 110 年 | 111 年 | 112年 | 113年 |
EPS (previous year) | 1.46 | 1.34 | 1.96 | 1.76 | 3.52 | 1.2 | 4.8 |
Cash Dividend in NTD per share | 1.42 | 1.40 | 1.85 | 1.70 | 3 | 1 | 2 |
Stock Dividend in NTD per share | – | – | – | – | – | – | 2 |
Dividend allotment rate(%) | 97 | 104 | 94 | 97 | 85 | 83 | 83 |
Dividend yield rate(%) | 8.99 | 8.43 | 9.79 | 4.9 | 9.68 | 4.07 | 10.03 |
Yielding rate data is quoted from 『 Yahoo website https://tw.stock.yahoo.com/quote/2020.TW/dividend』
Yield (%) formula = (current cash dividend + current Stock dividends)/ ex-dividend closing price yesterday
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| Current Assets | Total Assets | Current Liabilities | Total Liabilities | Equity attributable to Owners of the Company | Total Equity |
2021.12.31 | 49 | 81 | 35 | 45 | 36 | 36 |
2022.12.31 | 41 | 74 | 33 | 42 | 32 | 32 |
2023.12.31 | 45 | 75 | 25 | 34 | 41 | 41 |
Unit:NT$ Hundred Million
Financial Overview : Consolidated Balance Sheet(Year)
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| Current Assets | Total Assets | Current Liabilities | Total Liabilities | Equity attributable to Owners of the Company | Total Equity |
2022.9.30 | 41 | 75 | 34 | 94 | 31 | 31 |
2023.9.30 | 39 | 72 | 27 | 36 | 36 | 36 |
2024.9.30 | 49 | 82 | 28 | 37 | 45 | 45 |
Financial Overview : Consolidated Balance Sheet(Quarterly)
Unit:NT$ Hundred Million
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| Revenue | Gross operating profit, net | Operating profit | Non-operating income and expense | Net Profit after Tax |
2021 | 65.59 | 8.57 | 5.23 | 3.84 | 7.79 |
2022 | 66.24 | 4.24 | 2.31 | 1.08 | 2.67 |
2023 | 70.09 | 8.37 | 5.19 | 8.03 | 10.7 |
Financial Overview : Consolidated Income Statement(Year)
Unit:NT$ Hundred Million
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| Revenue | Gross operating profit, net | Operating profit | Non-operating income and expense | Net Profit after Tax |
2022.1-9 | 49.39 | 3.02 | 1.69 | 0.87 | 1.99 |
2023.1-9 | 55.56 | 6.48 | 4.17 | 3.62 | 6.44 |
2024.1-9 | 40.75 | 6.24 | 3.79 | 5.16 | 7.61 |
Unit:NT$ Hundred Million
Financial Overview : Consolidated Income Statement(Quarterly)
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| Gross profit margin(%) | Operating profit margin(%) | Profit margin (%) | Return on assets (%) | Return on equity (%) | Book value per share | Earnings per share (unit : NT$ ) |
2021 | 13.06 | 7.97 | 11.87 | 10.97 | 23.0 | 16.27 | 3.52 |
2022 | 6.4 | 3.48 | 4.03 | 4.02 | 7.81 | 14.39 | 1.2 |
2023 | 11.94 | 7.4 | 15.26 | 15.06 | 29.39 | 18.28 | 4.8 |
Financial Overview : Key Financial Indicators(Year)
Unit: : %
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| Gross profit margin(%) | Operating profit margin(%) | Profit margin (%) | Return on assets (%) | Return on equity (%) | Book value per share | Earnings per share (unit : NT$ ) |
2022 1-9 | 6.11 | 3.41 | 4.02 | 9.87 | 20.6 | 16.06 | 0.89 |
2023 1-9 | 11.65 | 7.50 | 11.60 | 9.38 | 18.83 | 16.33 | 2.41 |
2024 1-9 | 15.31 | 9.30 | 18.67 | 10.02 | 17.73 | 16.87 | 2.85 |
Financial Overview : Key Financial Indicators(Quarterly)
Unit: : %
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