Youngin Equipment Solution Technology
Contents Why YEST? Chapter 01_ Investment Highlights Chapter 02_ Growth Strategy Chapter 03_ Financial Highlights Appendix
Why YEST?
01, YEST 38.3%, YEST 580 2015 3Q 25.3% 09-14 15.2% 2015 3Q 32.1% & 4.4% & 25.2% 4
02, YEST VDO FPD Furnace IR Oven Hot&Cold MBT Chamber EDS Chiller 306 325 233 221 404 Burn In Tester / Auto Bake Furnace PI Bake Furnace Cure Oven MASK VCD Autoclave 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015E 2016E 2017E 5
03 YEST? 4 80~350 1000?? -80 SCU 95 40 /5 Needs 500 ±3 66 53 6
Investment Highlights
01 CAGR 52.4% 12~ 14 215.5 222.0 CAGR 31.7% 12~ 14 92.8 114.7 2012 2013 2014 2015.3Q 58,023 CAGR 64.9% 12~ 14 186.0 40,422 31.3 39.6 85.2 2012 2013 2014 2015.3Q 23,284 22,057 & 146.0 89.5 51.3 82.3 2012 2013 2014 2015.3Q 2012 2013 2014 2015.3Q IFRS 2012 2013 8
02 Wafer Mask Cleaner Wafer PI Furnace O3 Generator TCU THC Heat Exchange Wafer Furnace Probe Station Chiller Cure MBT Memory Burn-in Tester Chamber EDS TEST DAF Packing Test Wafer 9
03 Line-up TFT AMOLED TFT LTPS Oxide SGS a-si FLEXIBLE PI Coating Glass Gate Gate Gate Gate PI Furnace Oven IR Oven Autoclave TCU VDO TFT LCD TFT 10
04 Value Chain e-furnace EDS Chiller MBT Tester Chamber 16 Chamber Autoclave Oven RTP Heating Jacket Hood BIB Zener Diode Agency 11
05 /_ Cash-cow Heating Jacket 20% 40% Fab 18L Hood 2014 LCD HOOD Ph2, BIB 1 Foundry Test DRAM TEST Test Zener Diode LED 1.5~2 1 BIB Burn In Board Board 12
06 _ 2015 2016 2017 E Site 2015 2016 2017 DRAM 11/13/15 Migration 17 SEC 17Line Furnace Chiller 30 15.12 15.12 NAND 3D 3D 2 SCS Furnace Chiller 30 15.12 15.12 Logic S1/S2 Migration S3 17 SEC 18Line - 16.12 DRAM M14 SK NAND Migration 3D, 15.6 SK, 15 3D NAND, M14 3 SCS SCS Chamber 90 16.1Q 15.12 16.1Q 13
06 _ Order Equipment Install Production 2015 2016 2017 Factory Phs Tech Gen Max/ 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q E Site 15.12 16.2Q Guangzhou 2 1 a-si 8 30 2 a-si 8 30 SDC 2 Bac Ninh Auto Clave, TCU 100 15.12 16.2Q 15.12 16.2Q - LGD Paju P8 Kumi AP3 LTPS 6 7 Kumi P6 6 a-si/ Oxide a-si/ Oxide 8 30 8 30 3 LTPS 6 15 a-si/ Oxide 6 5 SDC 2 16.07 - Oxide Anneal Oven, VDO 30 16.04 16.11 120 16.04 16.11 230 Furnace 16.02 16.07 - VDO 16.04 16.07 - Suzhou 3 a-si 8 65 LG PI Furnace 4 16.04 16.08-1 LTPS 6 15 SDC A3(OLED) 2 LTPS 6 15 3 LTPS 6 15 NH, KDB IR Oven 16.04 16.07 - Site BOE Convention Oven TCU 16. 1Q BOE 10.5 LCD SDC OLED 69%, LGD OLED TV OLED Panel Tianma Furnace / Oven AutoClave 16. 2Q DongXu Oven 16. 1Q 14
Growth Strategy
01 Roadmap 2014 2015 2016 2017 MBT Chamber MBT Chamber SSD Chamber SSD IOT Chiller e-furnace 17L Ph.2 EDS Chiller Furnace Customization SDC, 18L Ph.2 Burn-In Tester Autoclave 2013 SDC, VDO SDC, 2015,, FPD Furnace Furnace, 4 16
02 Burn-In Tester FPD Furnace + MBT 2015 LCD AMOLED Furnace Glass, 4 17
02 신규 제품 개발을 통한 시장선점 및 진입장벽 구축 ② Core Technology VDO(Vacuum Dry Oven) ㆍ최단시간 내 고진공 도달 가능 생산성 향상 ㆍ고진공에서 발생하는 Outgassing 및 Particle 최소화한 평판 IR Heater 적용 ㆍMaintenance, PM의 용이성 OLED用 고진공 Oven ㆍ투명, 모바일, 대형 디스플레이용 열제어 장비 필요에 의한 삼성전자와 협력 개발 ㆍ삼성전자 수주량 증가 예상 ㆍLG화학 유기EL 공정용 장비 진입 기대 ㆍ중국 시장 지속적인 제안 중 2016년 예상 수주 계획 (단위 : 대) 1 1 1 1 ʼ15.07 ʼ16.1Q ʼ16.2Q ʼ16.3Q ʼ16.4Q 18
03 Partnership M/S 18 OLED Partnership M/S VDO Sales OLED 2G 4G or 5G AMOLED, LCD BOE, Tianma - 2016 19
Financial Highlights
01,% / 404 580 146 / 9.5 25.4 18.4 30.9 174 82 186 CAGR 83.4% 12~ 14 233 221 85 2012 CAGR 64.8% 12~ 14 56 74 90 51 22 31 40 216 222 2012 2013 2014 2015.3Q 93 115 19 15 21 2012 2013 2014 26 2015.3Q Ph.2 15.12.07 IFRS 21
02 %,% 79.3 79.3 80.1 700 600 500 17.7 18.9 13.3 580 20.0 18.0 16.0 14.0 75.3 400 300 233 221 404 9.4 12.0 10.0 8.0 200 6.0 100 4.0 2.0 0 2012 2013 2014 2015.3Q 2012 2013 2014 2015.3Q 0.0,, 22
03 %, % 175.5 252.0 213.9 70.1 79.4 110 84.5 25 31 44 43.2 28.6 2013 2014 2015.3Q 2013 2014 2015.3Q 23
04 15 3Q 580, yoy 95% %, %, 15.2 13.1 58,023 95% 40,422 29,775 3.0 1.8 6.7 8,812 0.7 1.7 7,585 23,284 22,057 2,687 707 405 1,206 151 670 2012 2013 2014 2015.3Q 2012 2013 2014 2015.3Q 2012 2013 2014 2015.3Q IFRS 2012 2013 24
Appendix
01 IPO Information 24.84 27.49 5% 6.07 41.60 % 500 1,075,000 645,000, 430,000 14,500 ~ 18,500 1,189,650 27.49 % 5% 262,642 6.07 % 156 ~ 199 1,800,029 41.60 % 627 ~ 801 1,075,000 24.84 % 4,327,321 100.00 % 2015 12 02 ~ 03 2015 12 08 ~ 09 1,189,650 27.49 % 6 1 695,182 16.07 % 1 32,250 0.75 % 3 107,500 2.48 % 1 2,024,582 46.79 % - 2015 12 11 2015 12 16 NH 1 695,182 256,682 2 26
02 Furnace, Autoclave, Chiller, Chamber 2000 3 6 654 18.3 2015 10 www.yest.co.kr 25 25 22 22 22 - - 27
03 2012 2013 2014 15.3Q 2012 2013 2014 15.3Q 12,831 15,042 20,995 29,493 23,979 23,652 25,995 27,883 36,809 38,694 46,990 57,376 17,128 21,462 26,456 16,800 7,505 4,904 7,185 9,486 24,632 26,367 33,641 26,286 1,233 1,233 1,233 1,825 3,345 3,345 3,696 13,260 - - - - - - - - 7,599 7,749 8,420 16,005 12,177 12,327 13,349 31,090 23,284 22,057 40,423 58,023 18,455 17,491 32,358 43,721 4,829 4,567 8,065 14,302 4,122 4,161 5,378 5,490 707 405 2,687 8,812 60 206 314 861 362 62 888 109 230 361 72 20 2,151 1,140 1,499 403 1,517 230 686 9,180 311 381 15 1,595 1,206 151 670 7,585 - - - - 1,206 151 670 7,585 IFRS IFRS 2012 2013 28
654 I Tel 031 612 3333 I Fax 031 612 3399 I www.yest.co.kr