CMOS Image Sensors in Automotive Industry

Transcription

1 1 CMOS Image Sensors in Automotive Industry ADAS & AUTONOMOUS Are Taking Off Aug. 2017

2 Safe Harbor Notice 2 KINGPAK s statements of its current expectations are forward-looking statements subject to significant risks and uncertainties and actual results may differ materially from those expressed or implied in these forward-looking statements for a variety of reasons, including but not limited to, among other things: the cyclical nature of our industry; our dependence on introducing new products on a timely basis; our dependence on growth in the demand for our products; our ability to compete effectively; our ability to successfully expand our capacity; our dependence on key personnel; general economic and political conditions, including those related to the electronic device industries; possible disruptions in commercial activities caused by natural and human-induced disasters, including terrorist activity and armed conflict; and fluctuations in foreign currency exchange rates. Except as required by law, we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.

3 Index: 3 Ⅰ Overall CMOS Image Sensor (CIS) Market Ⅱ Automotive CIS Market Ⅲ Security & Surveillance Market Ⅳ Key Customers Analysis Ⅴ Kingpak Introduction Ⅵ More Challenges from Automotive Industry Requirements Ⅶ Kingpak Competition Analysis Ⅷ Kingpak Perfromance update

4 Index: 4 Ⅰ Overall CMOS Image Sensor (CIS) Market Ⅱ Automotive CIS Market Ⅲ Security & Surveillance Market Ⅳ Key Customers Analysis Ⅴ Kingpak Introduction Ⅵ More Challenges from Automotive Industry Requirements Ⅶ Kingpak Competition Analysis Ⅷ KingpakPerfromance update

5 1. CMOS Image Senor Market(in $%) 5 1. Overall CIS CAGR in Revenue(Y ) ~10.5% 2. Automotive CAGR in Revenue(Y ) ~23% 3. Security CAGR in Revenue(Y ~18%

6 2. CMOS Image Senor Market (in unit) 6 Market TAM: B units market in 2016 & should reach 8.0B units by CAGR(2016~2022) in Unit: 8.5% 16~ 22 CAGR in Unit for Automotive(26%) & Security(21%)

7 3. CMOS Image Senor Market(in $M) 7 Automotive will become 2 nd largest segment by Y ~ 22 CAGR in Revenue for Automotive(23%) & Security(18%)

8 4. Who Are Major Players & Ranking (by Revenue) 8 SONY SAMSUNG OVT ON SEMI #1 in CCD Image sensor; leading BSI technology for Apple #1 Smartphone market share, plus leading Semiconductor Technology Working with TSMC, 1 st BSI release for Apple, leading in low-end market Merged Aptina in 2014, with a focus on Automobile & Security areas

9 Index: 9 Ⅰ Overall CMOS Image Sensor (CIS) Market Ⅱ Automotive CIS Market Ⅲ Security and Surveillance Market Ⅳ Key Customers Analysis Ⅴ Kingpak Introduction Ⅵ More Challenges from Automotive Industry Requirements Ⅶ Kingpak Competition Analysis Ⅷ Kingpak Perfromance update

10 10 1. CMOS Automotive Camera Market (M units) 1. From 2017~ 2022 growth should be back to a ~25.6% CAGR in volume 2. Some cars will require +10 cameras. 10

11 2. CMOS Automotive Top a. After 3 years of intense growth, the CIS automotive market is now highly visible in the CIS industry. b. ON Semi is the dominant player in this market followed by Omnivision. c. Sony s acquisition of Toshiba s CIS business will modify the power balance in the coming years.

12 3. Automotive Camera Supply Chains 12 資料來源 : Kingpak Management 1. The average timeline for camera module house to certify the system is ~ 1 to 2 years. 2. These Tier1 & Tier2 module/system makers have qualified Kingpak System/Products.

13 4. CMOS Automotive Market Trend Different Sensor Technology, including NIR, Infrared Cameras, etc 2. Up to 10 Cameras per car

14 5. Automotive Camera per Cars Roadmap Y2016(Current): Surround View(Display) 2. Y2020: Assistance for Driving Monitoring (Tesla) 3. After Y2020: more cameras due with Semi-Auto/ADAS demand

15 6. Automotive Market Trend for ADAS 15 Adoption(Built-in vs. Timing) Rate: years: 1~4ea per car for Surround View Display years: 4~8ea for Assistance(Driving Monitoring) 3. Over 10 years: 8~10ea per car for Semi-Auto(ADAS)

16 7. Automotive Market Trend D imaging & sensing still has limited applications in the automotive industry. 2. Trying to penetrate the Automotive industry.

17 Index: 17 Ⅰ Overall CMOS Image Sensor (CIS) Market Ⅱ Automotive CIS Market Ⅲ Security & Surveillance Market Ⅳ Key Customers Analysis Ⅴ Kingpak Introduction Ⅵ More Challenges from Automotive Industry Requirements Ⅶ Kingpak Competition Analysis Ⅷ Kingpak Perfromance update

18 1. CMOS Security Market Forecast (M unit) 18 CMOS sensor sales for security systems and surveillance applications are expected to grow by a CAGR in Unit ~+21.0%( )

19 2. CMOS Security/Surveillance Top Security CAGR in Revenue(Y )~18%

20 Index: 20 Ⅰ Overall CMOS Image Sensor (CIS) Market Ⅱ Automotive CIS Market Ⅲ Security & Surveillance Market Ⅳ Key Customers Analysis Ⅴ Kingpak Introduction Ⅵ More Challenges from Automotive Industry Requirements Ⅶ Kingpak Competition Analysis Ⅷ KingpakPerfromance update

21 A. ON Semiconductor : 1. Biz Strategies Headquarters: Phoenix, AZ Employees: ~23,000 globally Revenue: ~$3.5Bn (1) Market Capitalization: ~$4.2Bn (2) Ticker: ON Founded: Spun-off from Motorola 1999, IPO Remark: Strategies in Biz a. Investing in Automobile & Industrial Sectors to drive business Growth. b. #1 market share & expanding technology lead in automobile sectors. c. Strong position on Security / Surveillance sector. (1) 2014 revenue (2) According to NASDAQ - based on closing stock price on May 1, 2014 (3) Sector % based on 1Q14 results

22 A. ON Semiconductor : 1. Biz Strategies 22 (1) 2014 revenue (2) According to NASDAQ - based on closing stock price on May 1, 2014 (3) Sector % based on 1Q14 results

23 2. ON Semiconductor -- Top Source: Gartner Dec 14, Preliminary Ranking of Top 25 Semiconductor Vendors by Revenue Remark: Rank in 2016: Top 20

24 3. ON Semiconductor CMOS in Automotive/Security Industrial ASIC #1 PC Core Power (DCDC) #1 Notebook Adapters (ACDC) #1 White Goods IPM #2 Adaptive Front Lighting #1 Automotive Image Sensors #1 Security Image Sensors #1 Audiology DSP Systems #1 Protection #1 GP Op Amps #2 Linear VREG #1 Automotiv e Wireless Devices Image Sensors Power Conversion & Motor Control Industrial IoT Sources: isuppli, IMS Research, Strategy Analytics, Fuji Chimera Research, ON Semiconductor Business Units and Corporate Marketing

25 25 B. SONY : 1. Image sensor Battle of the Giants : Sony invests $4B. What does it mean for the CIS industry? Sony s Core: 1. Sony CCD s Technology Transfer; Pioneer in BSI; 2. The new stacked sensors are presented as the next evolution step, right after BSI. 3. Capa expansion plan ~45% from60kpcs to 87Kpcs per month from Sept

26 26 B. SONY : 1. Image sensor Battle of the Giants : Sony invests $4B. What does it mean for the CIS industry? Sony s Core: 1. Sony CCD s Technology Transfer; Pioneer in BSI; 2. The new stacked sensors are presented as the next evolution step, right after BSI. 3. Capa expansion plan ~45% from60kpcs to 87Kpcs per month from Sept

27 1. Sony owns about 35% market share in CIS. 2. Now 3% share in automotive; to be No 1 in automotive sensors" by the time selfdriving cars are expected to hit the roads in early to mid-2020s. 3. Sony s new sensor is capable of capturing high-resolution color images in light conditions as low as lux, a level equivalent to that of a moonless night and one that is far below illumination levels under a star-filled night sky. New generation (higher resolution) products are also under mass production already. 2. Sony Aims at Automotive Cameras 27

28 C. Panasonic Towerjazz Panasonic Semiconductor Company is a joint venture 51% owned by Tower Semiconductor and 49% owned by Panasonic. 2. TPSCo manuafactures CMOS to meet the growing demand in high end photography, Security/surveillance and Automotive applications.

29 D. OmniVision Technology Inc A fabless Company and uses the foundry capability of TSMC. 2. acsp is now for Automotive Market, but migrating to abga.

30 Index: 30 Ⅰ Overall CMOS Image Sensor (CIS) Market Ⅱ Automotive CIS Market Ⅲ Security & Surveillance Market Ⅳ Key Customers Analysis Ⅴ Kingpak Introduction Ⅵ More Challenges from Automotive Industry Requirements Ⅶ Kingpak Competition Analysis Ⅷ Kingpak Perfromance update

31 1. Kingpak IPs 31 TechnolField Distribution (%) Memory card 11% Flip chip 3% Process/Test 4% ~550 patent applications BGA / CSP 19% CMOS 63% More Ips under Filing Remark 1 World#1 CSP Package Mass Production for DRAM 2 Y2000 started Micro SD PIP package, Y2005 World#1 MP 3 Most CMOS Image Sensor package IP Company Technology Field Distribution (Application count) 329 CMOS BGA / CSP Memory card Flip chip Process/Test CMOS BGA / CSP Memory card Flip chip Process/Test

32 2. Kingpak Product & Service a. Package Solutions 32

33 33 b. Kingpak Dedicated Reconstructed Assembly Class 10 clean room for CMOS Image Sensors Auto/Visual Inspection Polish Grinding Laser Grooving Auto/Visual Inspection

34 c. Kingpak Final Test Industrial Standard System In-house Developed System

35 3. Kingpak Quality System Qualification & Certification 35 Contin ental May 2012 Kostal Mar 2013 Hitachi AMS Aug 2013 Hyundai Oct 2013 Mando Oct 2013 LGIT (Innotek) Oct 2013 Bosch Apr 2014 Valeo Jun 2014 Delphi Jul 2014 Denso Aug 2014 Panasonic Nov 2015 Continuous +10 Automotive Customers Audit Pass at Excellence Grade Remark : The average timeline for tier 1 or 2 automotive integrator to certify is 1.5 to 2 years. Plus CIS package qualification=> The total timeline takes 3 ~4 years.

36 4. Entry Barriers for Package Stage 1: IP Patent Over 500 Patents, and 62% focus on CMOS Stage 2: Quality System System certify : TS16949 ; ISO dppm target : 6 sigma implement Passed Tier 1 customer audit Stage 3: Process Control High Level Clean room setup : Class 10 Good experience & Know-How at Particle control Stage 4: Technical Supporting Fully Turn-Key Solution Small Pixel size Handling experience Package development Know-How & Profile Stage 5: Management Team Over 15 years CMOS experience Elite Long term Relationship w/ Suppliers 36

37 Index: 37 Ⅰ Overall CMOS Image Sensor (CIS) Market Ⅱ Automotive CIS Market Ⅲ Security & Surveillance Market Ⅳ Key Customers Analysis Ⅴ Kingpak Introduction Ⅵ More Challenges from Automotive Industry Requirements Ⅶ Kingpak Competition Analysis Ⅷ Kingpak Perfromance update

38 1. Image Application for Automotive 38 Image sensors applied from short to long distance Source: Yole

39 2. Automotive Sensing Requirement Trend 39 Low luminance, 3D, and Real time will be the mainstream Source: Yole

40 3. Automotive Sensor Resolution Trend 40 Moving forward to 2.0M and 3.0M or even higher solution 1.3 M 2.0 M 3.0 M Source: Toshiba Remark : Moving forward to 2.0/3.0M is much faster than the migration from 0.3M to 1.3M.

41 4. Safety Enhancement for ADAS / Autonomous Car 41 Importance of Grade 2 -> Grade 1 migration 2016 starting 2020 booming Source: Samtec 16 41

42 5. Automotive Sensor Technology & Requirements Chip Design / FB Reqiremet 42 Source: Yole

43 43 6. KINGPAK Package Solution for Stacked BSI Wafer Limited space for structural design Challenge to design window / process / reliability More advanced and unique structural design Scaling down design window CSP s weakness for stacked BSI wafer: Limited space for structural design Coating glass application not allowed G2 reliability only

44 Index: 44 Ⅰ Overall CMOS Image Sensor (CIS) Market Ⅱ Automotive CIS Market Ⅲ Security & Surveillance Market Ⅳ Key Customers Analysis Ⅴ Kingpak Introduction Ⅵ More Challenges from Automotive Industry Requirements Ⅶ Kingpak Competition Analysis Ⅷ Kingpak Perfromance update

45 1.1 Competition Technologies & Analysis 45 ibga xx BGA CSP CLCC COB Strength Reliability Image Quality High Speed Design Reliability Image Quality High Speed Design Dimension Package Cost Weakness Dimension Dimension Reliability Image Quality Opportunit y Threat Potential Competitor s Coating glass embedded Electrical performance Lower package cost for 12 inch CSP Coating glass embedded Electrical performance Lower package cost for 12inch CSP 12 inch wafer for lower package cost Coating Glass High speed design limitation Reliability Thermal Performance Package Cost Module Reliability Dimension Easy Package Tech. Less material supplier Dimension Cost Reliability Module Yield Cycle Time After Market Yield control

46 1.2 Competition Technologies & Analysis 46

47 Index: 47 Ⅰ Overall CMOS Image Sensor (CIS) Market Ⅱ Automotive CIS Market Ⅲ Security & Surveillance Market Ⅳ Key Customers Analysis Ⅴ Kingpak Introduction Ⅵ More Challenges from Automotive Industry Requirements Ⅶ Kingpak Competition Analysis Ⅷ Kingpak Perfromance update

48 KINGPAK Q Consolidated Statement of Financial Information(QoQ) 48 Unit:NTD K Q % Q % Q % Q % Q % Q % Q1 o Q2 Revenue 708, , , , , , % Gross profit 231, , , , , , % Operating income 153, , , , , , % EPS ROA 28.38% 22.91% 19.62% 25.26% 20.33% 18.89% -1.45% ROE 46.63% 42.94% 35.65% 38.17% 29.85% 32.34% 2.49% Debt/Assets 38.79% 52.30% 49.68% 29.27% 34.94% 51.23% 16.29% Current ratio % % % % % % % Quick ratio % 98.42% % % % % % EPS*:retroactive adjustment a. Better product portfolio by more auto engagement in 2017 b,auto product migrate to 1.3 and 2M

49 600,000 Unit:NTD K 500, , , , ,000 KINGPAK Q Consolidated Statement of Financial Information 3.50 Unit:NTD Q Q Q Q Revenue 522, , , ,585 Gross profit 123, , , ,302 EPS GM % 24% 32% 34% 33% a. revenue pick up again by 1.3M launch b.better and better EPS QOQ

50 KINGPAK Q Consolidated Statement of Financial Information ,000 Unit:NTD K 200,000 40% Unit:% 35% 30% 150,000 25% 20% 100,000 15% 50,000 10% 5% 0 Q Q Q Q Q Q Q Q Q Q Gross profit 156, , , , , , , , , ,302 Gross margin 22% 21% 28% 29% 33% 30% 24% 32% 34% 33% 0%

51 KINGPAK Q Business Segment (In Revenue) 51 Unit:NTD in Million NT$154 NT$64 NT$143 NT$20 NT$58 NT$32 NT$64 NT$106 NT$75 NT$152 NT$191 NT$220 NT$3 NT$89 NT$76 NT$1 NT$69 NT$105 NT$349 NT$254 NT$177 NT$300 NT$333 NT$361 Q Q Q Q Q Q H YoY +15% For Automotive in Revenue. Automotive Security Consumers Memory Automotive revenue in Q will hit a record high!!!!!!

52 KINGPAK Q Business Segment (In %) % 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 10% 4% 6% 1% 0% 11% 20% 13% 18% 13% 22% 9% 15% 27% 20% 34% 42% 66% 67% 49% 54% 45% 34% Q Q Q Q Q Q % Automotive Security Consumers Memory Automotive sector is going to dominate our business and keep growing

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