Thermal module chip supplier Amulaire hosted the pre-IPO performance presentation on July 22nd, where the company announced its revenue for 1Q20 as TWD$210 million, and earnings per share (EPS) of TWD$0.25, which both exhibited an apparent YoY growth. In accumulation, the self-financing revenue for the first 6 months of 2020 is at TWD$403 million, which is also a YoY increase of 15.78%. Amulaire issued 9,975 seasoned equity offerings (SEO) this time, and the listed capital stocks are expected to elevate to TWD$850 million, with listing happening in August at the earliest.
Founded in 2011, Amulaire focuses on thermal modules and the relevant components and parts for the inverters of electric vehicles as its main products, and consists of a R&D team that is equipped with profound industrial experience in the thermal field. As the automotive industry requires significantly high requirements in safety and stability, Amulaire not only provides customized products that are complex in structure and highly efficient in thermal dissipation through its distinctive and diversified metal injection molding, forging, and pressing technology, but also offers development and design solutions for new products.
International organizations and the governments of various countries have set out a clear direction in policy stipulation regarding the reduction of carbon emission and the improvement in greenhouse effect amidst the high awareness of environmental protection, and have been increasing the quantity of charging stations for electric vehicles through the investment on infrastructure establishment, in addition to releasing various preferential subsidy policies. The governments of a number of countries are also implementing a comprehensive phase-out of fossil fuel vehicles between 2025 and 2050 in order to support the development in the electric vehicle industry. With the continuous breakthroughs in the manufacturing technology, the prices of electric vehicles have gone down, and the reinforcement in electric power storage and charging efficiency will facilitate a substantial elevation in the sales of electric vehicles. Although the market of electric vehicles is currently smaller than that of general fossil fuel vehicles, the statistics of market research institute InsideEVs indicate that the global electric vehicle sales of 2.2 million units in 2019 will surge to 56 million units in 2040 under the anticipation of the industry, where the market scale has been growing rapidly under a compound annual growth rate of 15-16%, and electric vehicles will also become the mainstream product in the global automotive market by surpassing fossil fuel vehicles simultaneously in terms of market sales.
As commented accordingly by Amulaire, the company possesses multiple molding technologies including metal powder metallurgy, forging, and pressing that are complemented with diversified metal welding techniques, making it the only manufacturer in the current market that is able to provide multivariate molding technologies and mass production thanks to its production advantages; the company also participates in the early stage of the production development phase from the R&D team of clients, where it proposes optimal recommendations in diversified process solutions in accordance with the demand from the clients. In terms of the end application on products of thermal technology, apart from the existing IGBT thermal module chips for electric vehicles, Amulaire is also developing Advanced Driver Assistance Systems (ADAS), and high performance computing cloud servers that contain smaller space for thermal dissipation, which fully exert the unique metal powder metallurgy technology of the company. The utilization of water-cooling thermal dissipation solutions, and the expansion of the application field of thermal products, may become the dynamic source of further performance growth for Amulaire.
Looking into the future, the certification of renowned global clients, along with the diversified molding technology, and the experienced R&D team, will allow Amulaire to continue to invest in the R&D of advanced technology and the optimization of manufacturing processes, as well as constantly research and develop innovative technology and products in order to reinforce its competitive advantages, while also obtaining mass production certification from clients in an aggressive approach. Under the rapid development of existing EV, 5G, AI, and IoT industries, the operation of various high performance chips has created a high temperature operating environment, and the heat dissipation function of modules must be simultaneously improved to ensure system security and stability, which highlights the importance in heat dissipation for high performance chips. After heavily investing in thermal module chips of IGBT, ADAS, and high-end cloud servers for years, Amulaire is in the midst of branching into the niche market.
(Cover photo source: captured by TechNews)