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1、NewCo1 ConfidentialExecutive Summary 2006 Aug. 7NewCo2 ConfidentialOutline- From FPD Market Trends to a Viable Business1. Windows of Opportunities2. Business Model & Competitive Advantages3. Investment Strategy4. Financing TimelinesNewCo3 ConfidentialWindows of Opportunities (WOOs)WOO of OLEDDeficie
2、ncies: LCD image imperfectionSolutions: To timely build a LTPS based OLED lineWOO of LCDDeficiencies: a-Si array and color filter supply chainbarb2rightOver supply in low-end segment, yet serious shortage in mid/high-end segmentsSolutions: To timely build a LTPS + Scanner CF line to fill the voidsLT
3、PSAMOLEDTFT-LCDNewCo4 ConfidentialBusiness Model - Bi-paneColor FilterTFT ArrayCell-1AssemblingPre-moduleLight On TestScribeCell-2LC injectionModulePolarizer BondingShield Case IQCOutsourcingBi-PaneProductNewCo5 ConfidentialOnly focus on the unmet market needs (Deficiencies: array & CF)Direct all th
4、e in-house resources to the bi-pane businessCapture the post bi-pane value to partnership leverage and outsourcingCatch the next wave of display technology revolutionBased on the existing seasoned and competent team to ensure fullreadiness on AMOLED technology and manufacturing know-howAvoid obsoles
5、cent investment between LCD and AMOLEDPotential obsolescent investment in LCD: proximity CF line, Cell and Module lineA Differentiated Business ModelNewCo6 ConfidentialCompetitive AdvantagesA team withCompleteness: In every functions (business, technology, manufacturing)Cohesion: All members with gr
6、eater than 3 years joint working experienceRich experience: Actively participating Taiwan LCD industry from day 1 (1996) to dateAchievements: Business, Technology and MFGChinaStrong local partnerCulture compatibilityInside the market place The first S/M company, the first LTPS based companyDifferent
7、iated business modelAsset light & minimal obsolescent investmentEarly break even and high return on investmentNewCo7 ConfidentialAsset Light Invest only when its inevitableOutsourcing whenever possibleMinimal obsolescent investmentTechnology & Mfg. Know-how Focused HeavilyInvestment StrategyBenefits
8、: Minimizing initial investment & sunk cost (depreciation light)Minimizing fixed costMinimizing inventory & working capital exposuresEarly break evenSustainable Competitive Advantages in Technology and know-how NewCo8 ConfidentialCAPEXTFT-LCD AMOLEDTotal Phase 1 Investment = 238.8 M + 15.0M (Cash fl
9、ow management)ConstructionFacilityEQ-ArrayEQ-Cell-1EQ-CFEQ-OLEDHook-up (4% of EQ)CIMEQ TOTALBUILDING TOTALOthers (IT+Design tools)TOTALunit: US$ M238.80 165.55404.3520.00 5.006.00 1.40185.00 149.9547.80 14.2065.456.60 5.809.80 0.0026.50 0.0041.20 8.40128.70 79.50I II0.00 0.00phase-1 investment (7.5k
10、/m) phase-2 investment (+7.5 k/m)NewCo9 ConfidentialEquity Commitment Allotment Phase 1$ 30M /eaStrategic investorsInvestor A: $30M committed + Fab ready + seed fund ready Investor B/C/D: work in progress: $20M & $10MEndorsement from international renown partners:Partner A: work in progress: Partner
11、 B: work in progress: $15M/eaCaptive customer as the equity owners:Captive customer A: work in progress: Captive customer B: work in progress: Fund neededFund Source CategoriesTotal: $180M(Debt ratio:30%)Note: : Committed, : Approached/Assessing, : ApproachingNewCo10 ConfidentialPhase I TimelinesMP
12、within 5 quarters from company formationEarlier breakeven within 2 years from company formationCatch 2008 high season and Olympic GameEvery 6 month pull ahead equivalent to 40M USD profit barb2rightTiming is everything !6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 122008MP2006
13、 20071. Early PO for long lead time EQ2. Shrink long lead time EQ 12m to 10m1. Market product copy2. Early customer qfy via T/SPR-POqfyEQ Lead timeInstallRamp-up/Tier 3Pilot Run E/SLOI issuance1st closing2nd closingNewCo11 ConfidentialConclusion- From Market Trends to a Viable Business1.Trends & opportunities are emerging2.Critical success factors are coming together3.Timing is NOW!NewCo12 ConfidentialThank you!
