TAIWAN COGENERATION CORPORATION Taiwan Cogeneration Corporation
INVESTOR
CONFERENCE
2024.3.20
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Presentation Content
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2
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Company Profile
Financial Statement
Operating Situation
Business Overview
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Company Profile
Taiwan Cogeneration Corporation （TCC）
- Chairman : Shun-I Huang
- Date of Establishment : 1992
- Date of Listing : 2003（Code: 8926）
- Capital : NT$7.3 Billions
- Main Business : Power Industry
Power Generation Business
Engineering Business
Investment Business
2
Company Profile
Development Track
TCC has invested in Ta Yuan cogeneration plant as well as self- invested and self- constructed Guan Tien cogeneration plant.
TCC listed in TWSE.
TCC acquired 100% shares of Miaoli Wind Co., LTD.
Developed IPP, renewable energy, cogeneration plant, transmission and substation engineering in domestic and oversea; continued to improve corporate governance.
1992 1996
TCC was funded by several well- known domestic companies under the guidance of Ministry of Economy.
2000
TCC has invested Star energy/Sun Ba/Star Buck 3 IPPs.
2003 2011
TCC acquired 35% shares of Kuo Kuang Power Corp.
Future
2020 2022 Outlook
"Conducting a | cash capital | |
increase and | capitalization | |
of retained earnings through | ||
stock dividends of Common | ||
Stock, raising the registered | ||
capital to 7.3 billion NTD | 3 | |
Company Profile
TCC's Shareholders （As of April 2023 ）
Taiwan Power Company,
27.66%
Other Investors, 58.11%
Jiansheng Investment, 2.67%
Ta Ya Electric Wire & Cable,
2.39%
TECO, 1.96%
Formosa Heavy Industries,
1.54%
Bo Han Investments, 1.53%
Wang, Hong-Yue-Yin, 1.46%
JPMorgan Chase Bank N.A., Taipei Branch in custody for Vanguard Total International Stock Index Fund, a series of
Vanguard Star Funds, 0.92%
Concord International Wang, Lian-Yuan,0.91%
Securities, 0.85%
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Company Profile
TCC has invested in total of 18 companies
Chingshuei
Geothermal
Power
100%
Shin
Kuang
Electric
Energy
100%
Star Solar | ||
100% | ||
Star Wind | Star | Star Energy |
100% | Power | |
Energy | ||
40.50% | ||
100% | ||
Miaoli | ||
Wind | ||
100% |
Yi Yuan 51.00%
Taiwan
Cogeneration
Corporation
TCC Green
Energy
100%
Hamaguri
100%
Synergy
KHH Arena
19.11%8.00%
Sun Ba Power 43.00%
Star Buck
Power
41.27%
Kuo Kuang
Power
35.00%
TCIC
100%
Ta-Yuan
Cogen
29.31%
Redondo
Peninsula
Energy, Inc
25.00%
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Company Profile
Name of the Investee Company | Capital | Shareholding | Main Business |
(NT$ Millions) | by TCC (%) | ||
Ta Yuan Cogeneration Corporation | 1,223 | 29% | Operation of cogeneration plant (82MW) |
Star Energy Power Corporation | 3,000 | 41% | Operation of gas-fired power plant (507MW) |
Sun Ba Power Corporation | 12,000 | 43% | Operation of gas-fired power plant (1,014MW) |
Star Buck Power Corporation | 3,300 | 41% | Operation of gas-fired power plant (490MW) |
Kuo Kuang Power Corporation | 3,278 | 35% | Operation of gas-fired power plant (480MW) |
Star Energy Corporation | 1,427 | 100% | Construction and engineering service for power, renewable |
energy related | |||
Star Wind Corporation | 178 | 100% | Wind power |
Star Solar Corporation | 240 | 100% | Floating solar power plant |
Taiwan Cogeneration International Corp. | 685 | 100% | Oversea investment |
Redondo Peninsula Energy, Inc. | 2,293 | 25% | Development of power plant in Subic Bay, Philippines |
KHH Arena Corporation | 2,500 | 8% | Operation of Kaohsiung Arena and its related facilities |
Yi Yuan Corporation | 300 | 51% | Investment of geothermal power |
Chingshuei Geothermal Power Corp. | 276 | 51% | Geothermal power |
TCC Green Energy Corp. | 105 | 100% | Retailer of renewable energy and provide ancillary services |
Shin Kuang Electric Energy Co., Ltd. | 80 | 100% | Solar power |
Miaoli Wind Co., Ltd. | 514 | 100% | Wind power |
Hamaguri Co., Ltd. | 100 | 100% | Investment of aquavoltaics |
Synergy Co., Ltd. | 100 | 19% | Development and maintenance of renewable energy |
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Financial Statement
Consolidated Income Statement
Unit: Thousand NTD | 2023 Y | 2022 Y | YOY | ||||
Revenues | 5,348,402 | 4,668,881 | 679,521 | 15% | |||
Costs | 4,805,144 | 4,040,655 | 764,489 | 19% | |||
Realized Gain on Transactions with Associates | (23,699) | 9,355 | (33,054) | -353% | |||
Realized Gross Profit | 519,559 | 637,581 | (118,022) | -19% | |||
Gross Margin | 10% | 14% | -4% | ||||
Operating Expense | 535,940 | 401,716 | 134,224 | 33% | |||
Operating Net Profit | (16,381) | 235,865 | (252,246) | -107% | |||
Operating Net Profit Margin | 0% | 5% | -5% | ||||
Non-Operating Items | 1,319,599 | 770,013 | 549,586 | 71% | |||
Pre-Tax Net Profit | 1,303,218 | 1,005,878 | 297,340 | 30% | |||
Income Tax Expense | (60,833) | (88,863) | 28,030 | -32% | |||
Net Profit | 1,242,385 | 917,015 | 325,370 | 35% | |||
Net Profit_ Owners of the Corporation | 1,252,275 | 906,774 | 345,501 | 38% | |||
EPS (NT$) | 1.82 | 1.44 | 0.38 | 26% | 7 |
Financial Statement
Consolidated Balance Sheet
Unit: Thousand NTD | 2023.12.31 | 2022.12.31 | ||||
Current Assets | 5,831,001 | 22.3% | 6,636,204 | 26.6% | ||
Non Current Assets | 20,324,012 | 77.7% | 18,340,196 | 73.4% | ||
Available-for-sale Financial Assets | 270,054 | 1.0% | 277,120 | 1.1% | ||
Investments Accounted for Using | 14,000,694 | 53.5% | 13,004,719 | 52.1% | ||
Equity Method | ||||||
Property, Plant and Equipment | 4,286,965 | 16.4% | 3,231,917 | 12.9% | ||
Other Assets | 1,766,299 | 6.8% | 1,826,440 | 7.3% | ||
Total Assets | 26,155,013 | 100.0% | 24,976,400 | 100.0% | ||
Current Liabilities | 5,620,730 | 21.5% | 6,700,437 | 26.9% | ||
Non Current Liabilities | 4,946,617 | 19.0% | 6,425,723 | 25.8% | ||
Total Liabilities | 10,567,347 | 40.5% | 13,126,160 | 52.7% | ||
Shareholders Equity | 15,449,572 | 59.0% | 11,693,409 | 46.8% | ||
Non-Controlling Interests | 138,094 | 0.5% | 156,831 | 0.5% | ||
ROA | 5% | 4% | ||||
ROE | 9% | 8% | ||||
Current Ratio | 104% | 99% | 8 | |||
Quick Ratio | 63% | 67% | ||||
Financial Statement
Consolidated Cash Flow
Unit: Thousand NTD | 2023 Y | 2022 Y | YOY |
From Operating Activities | (92,746) | 1,789,361 | (1,882,107) |
From Investing Activities | (1,740,378) | (482,608) | (1,257,770) |
From Financing Activities | 20,110 | (343,007) | 363,117 |
Effect of Exchange Rate | 1,183 | 7,085 | (5,902) |
Net Change in Cash | (1,811,831) | 970,831 | (2,782,662) |
Beginning Balance | 3,734,653 | 2,763,822 | 970,831 |
Ending Balance | 1,922,822 | 3,734,653 | (1,811,831) |
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Disclaimer
TCC – Taiwan Cogeneration Corp. published this content on 21 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 March 2024 01:44:07 UTC.
