カテゴリー: Press Releases

3月 4日, 2020

• 2020

Given the worldwide spread of the COVID-19 Coronavirus, there have been reports in the press and from brokers concerning Phison Electronic’s (8299 TT) 2020 and 2021 earnings outlook. To provide greater transparency for our investors, we would like to clarify some key facts. In particular, a recent broker report that seems to extend a broad-brush treatment to the entire global memory device supply chain may lead to confusion amongst our investors regarding the fundamental outlook for Phison Electronics.

We would like to present the following facts:

 * Phison management has not participated in any recent interviews with the author of the above-mentioned broker report.   

 *The above-mentioned report offers a short-term macro call, assuming a negative impact from COVID-19 across the memory device supply chain.

 *Since 2016, Phison’s earnings have consistently been NT$20/share or above, and ROE has averaged 21%. We have observed one analyst’s earnings projections to be consistently low and fluctuate considerably. This analyst’s initial EPS projections for the years 2016, 2017 and 2018 were 17%, 26% and 51% lower than Phison’s actual results.

 *This analyst’s current 2020 and 2021 EPS forecasts of NT$17.1 and NT$14.3 are well below Bloomberg market consensus of NT$24.3 and NT$26.3, respectively.

 *We welcome all sell-side analysts to personally contact our team to get a fuller understanding of our outlook for 2020 & 2021, and to gain a deeper understanding of downstream memory device industry fundamentals and earnings – which are not as volatile as those for upstream producers. Please contact our investor relations team: このメールアドレスはスパムボットから保護されています。閲覧するにはJavaScriptを有効にする必要があります。

Phison Clarification:

 *The global spread of the COVID-19 virus has introduced considerable uncertainty regarding the downstream demand outlook, not only in the tech industry, but for the entire global economy.

 *Our RD center and most of our module manufacturing facilities are located in Taiwan, and all operations are currently normal. Our production levels have not been significantly impacted by the virus outbreak. Supply from our major upstream suppliers locally and overseas remains uninterrupted. Additionally, our key downstream clients have not cut order volumes and are accepting our shipments on schedule.

A Comment from Phison’s Chairman & CEO KS Pua:

According to KS Pua, Phison Chairman and CEO, “Given the current strength in demand for SSD hard drives from PC OEMs and the expected introduction of new gaming consoles by leading brands in 2H20, NAND flash pricing and demand trends are currently favorable. As a NAND flash controller IC and module system provider, we are confident that our unique business model can produce consistently strong cashflows and profits over the long-term, amidst challenges presented by competitors and memory chip market cycles. We maintain long-term partnerships with our NAND FLASH supply sources and with our downstream module customers; and expect these partnerships to remain strong in the future. We look forward to growing our business scale and market share together with our business partners this year and for many more to come.”

カテゴリー: Press Releases

1月 14日, 2020

• 2020

Phison Electronics Corp. (“Phison”) was set up in 2000 by five founders.  After over 19-year diligent management, until 2019 end Phison has over 1800 employees (almost 80% are engineers), and is playing the role as the world NAND Flash controller leader.  From Phison’s financial record, its total asset and shareholder’s equity are stably increased, and from 2005 to 2018 it has cumulatively paid dividends over New Taiwan Dollars 20.9 billion.  Therefore, from Phison’s Chairman and CEO Mr. K.S. Pua (“Mr. K.S. Pua”) and his management team’s point of view, they have performed their duties well to create considerable interests for the shareholders and employees.

About the financial case, when Taiwan Hsinchu District Prosecutors Office (“Prosecutors Office”) initiated investigation in 2016, Mr. K.S. Pua actively cooperated to the proceeding.  Mr. K.S. Pua explained to the Prosecutors Office that, the reason why he did such special business arrangements at issue was to respond to severe competition, and for Phison’s long-term development.  Mr. K.S. Pua further told that he did NOT have the motive to damage Phison and cheat the investors.  After the investigation the Prosecutors Office once issued deferred prosecution order in 2017.  Due to limitation of current laws in Taiwan, although this case was indicted in 2019, the prosecutor in the indictment still mentioned that said special business arrangement was for Phison’s interest, and the prosecutor suggested the court considering commutation in accordance with the law.  Nevertheless, from the results we can see that, Phison actually earned considerable profits and paid corresponding dividends to the shareholders.  In addition, per Taiwan’s governmental authority Financial Supervisory Commission’s instruction in 2016, Phison had ever re-prepared its financial reports at issue, and no materially abnormal result was found.

Following the Prosecutors Office’s indictment, the Securities and Futures Investors Protection Center (“SFIPC”) in Taiwan filed two civil actions in 2019 end.  The first civil action is to ask to remove Mr. K.S. Pua from director of Phison’s board position (“Removal Action”), and the other one is to claim damage against Phison, its board of directors and other co-defendants on behalf of certain investors (“Class Action”).

SFIPC’s cause of action in the Removal Action is that, Mr. K.S. Pua should not be qualified as director of Phison’s board due to his being indicted.  It is regretful about SFIPC’s allegation.  From Mr. K.S. Pua’s point of view, purpose of his making such special business arrangements was for Phison.  Phison actually earned considerable profits to bring corresponding dividends for the investors.  It was not heard from the investors to criticize Mr. K.S. Pua’s qualification as director of Phison’s board.  Now SFIPC filed the Removal Action, alleging that it is for the investors’ interest?!  It is argued that said action actually protects the investors’ interests.  Therefore, Mr. K.S. Pua actively participates in the proceeding for fair judgment.  Nevertheless, Mr. K.S. Pua still keeps his promise to serve for Phison at the CEO position, and leads Phison to move forward continuously.

SFIPC’s cause of action in the Class Action is that, Phison and the con-defendants need to reimburse certain investors’ loss approximately New Taiwan Dollars 697 million, due to their relying on Phison’s Q3 and Q4, 2014 defective financial report.  It is also regretful that, SFIPC may not consider background of Phison’s case is different from other financial cases (which usually involve misappropriation of company’s assets), but still solicits investors to join this Class Action, and applies to unreasonable formula to maximize alleged loss.  In addition, statute of limitations of this Class Action may have expired since SFIPC waited over three years until 2019 end to file litigation.  Furthermore, it is also argued that SFIPC’s claim has sufficient ground, since an investor’s investment decision usually has something to do with overall economy, the invested company’s performance and future, personal financial management and other factors.  Therefore, Phison and the co-defendants have actively defended against the alleged claim.

In sum, it is reasonably believed that the financial case and corresponding litigations do not significantly impact Phison’s current finance, business and operations.  Mr. K.S. Pua and the Phison team still will implement their duties diligently to create notable performance for the investors.  Last of all, it is appreciated for the investor’s continuously support.

カテゴリー: Press Releases

1月 8日, 2020

• 2020

Phison Electronics (8299.TW), the industry’s leader in flash controller and NAND storage solutions, is demonstrating mainstream performance using 4-bits per cell QLC NAND flash controllers and SSDs at the Consumer Electronics Show 2020 (CES) in Las Vegas, Nevada. In its private suite, Phison is showcasing the addition of support for QLC NAND to its already shipping E16 PCIe Gen 4x4, E12 PCIe Gen 3x4, and S12 SATA controllers that use TLC NAND.  Phison’s industry leading approach leverages highly successful controllers that were qualified by tier-1 OEMs, are in mass production now, and extends new SSD designs to utilize either TLC or QLC NAND.  Phison’s proprietary QLC NAND controller technology enables higher SSD capacities in industry standard form factors while meeting the performance demands of mainstream applications.

Phison’s flagship E16 series controller for PCIe Gen 4x4 NVMe SSDs can achieve up to 4TB in capacity with QLC NAND and reaches speeds of 4.9 GB/s for sequential reads and 3.8GB/s for sequential writes.  The E12 series controller enables PCIe Gen 3x4 NVMe SSDs and has a capacity of up to 8TB and speeds of 3.4GB/s sequential reads, 3.0 GB/s sequential writes with QLC NAND.  For the SATA interface, Phison is also demonstrating the S12 controller series SSDs with up to 16TB using QLC NAND and performance at 550MB/s sequential reads and 530MB/s sequential writes.  Phison’s DRAM-less S13T controllers enable smaller form factors, have a capacity of up to 2TB, and operate at 550MB/s sequential reads and 500MB/s sequential writes.

“PC OEMs are always striving to offer higher storage capacities combined with performance to provide a quality PC experience for end users,” according to Jeff Janukowicz, research vice president at IDC.  “SSD manufacturers are increasingly looking to adopt QLC NAND technology in PCs, and the latest generation of SSD controllers such as Phison’s QLC client SSD controller are poised to enable suppliers to deliver SSDs that meet PC performance expectations at higher capacities, but at more affordable prices.”

“Adding QLC NAND support to the commercially successful E16, E12, and S12 series SSD controllers was a high priority request from our customers.  Phison not only listened, but we are proud to offer QLC NAND support with industry leading capacities and performance that provides our customers with key differentiating advantages,” said KS Pua, Chairman and CEO of Phison Electronics Corporation.

Phison will also be demonstrating its QLC enabled removable storage solutions for microSD, USB 3.2, and Thunderbolt 3^TM, showing impressive performance on all of the interfaces.

Visit Phison at CES 2020 at its private suite at the Bellagio to see the complete showroom and detailed showcase information from January 7th  - 10th.

カテゴリー: Press Releases

8月 5日, 2019

• 2020

SANTA CLARA, CALIF. – August 5, 2019 – As the first and only company shipping PCIe^® Gen4x4 NVMe SSD solutions, Phison Electronics is the industry leader in enabling high-performance computing for bandwidth-hungry applications.  In developing these solutions, Phison is ushering in a new era for applications expected to meet the demand for increasingly faster and higher-definition digital experiences.

The PCIe 4.0 standard offers double the data transfer rate over the prior PCIe 3.0 version. The increased data transfer rate, signal reliability and integrity of PCIe Gen4 enables technology solutions providers with the ability to deliver greater performance, additional flexibility and lower latency to a multitude of applications, including PC, gaming, mobile, storage and networking.

“There is continued pressure in the industry to improve the performance of computing systems to support the applications that end users are most interested in. PCIe 4.0 offers manufacturers a way to meet these consumer demands,” said Chris Kilburn, corporate vice president and general manager, Client Channel, AMD. “AMD is delighted to work with Phison to raise the bar by introducing first-to-market solutions. Through sound engineering and design, we are working together to deliver the experiences our customers demand.”

According to CEO and Co-Founder of Liqid, Sumit Puri, “PCIe Gen4 will unleash the performance capabilities required for next generation data centric applications, including artificial intelligence and 5G edge computing. The LQD4500 provides 32TB of capacity and a PCIe Gen4x16 interface that enables over 24GB/s of throughput and 4 million IOPS. This impressive performance is only possible by aggregating multiple Phison E16 NVMe controllers into a single device. The Phison E16 provides industry leading performance, capacity and NVMe features required to build the PCIe Gen4 enabled data center of the future.  Liqid is excited that the Phison E16 is now powering the fastest storage in the world, the LQD4500.”

Phison’s first-to-market position in this emerging space is due to the company’s decades of experience in memory technology, excellence in engineering and innovation in flash memory products.  Whereas others have yet to debut their Gen4 solutions, Phison has developed a package of products to address multiple sockets within the consumer space.

Among its portfolio of PCIe Gen4x4 NVMe products currently available or planned for release within the next year are:

•    PS5016-E16 – a high-end controller that can easily reach speeds of 5GB/s sequential reads and 4.4GB/s sequential writes – the fastest sequential reads and writes for a single M.2 SSD
•    PS5019-E19T – offering low power controllers for mainstream drives, delivering best-in-class power savings and reducing cooling needs in data centers for all-day computing (Available 4Q 2019)
•    PS5018-E18 – builds on the success of E16 to deliver even higher levels of performance with speeds of 7GB/s reads and writes (Available 2Q 2020) in advanced 12nm process node.

The entire portfolio of Phison PCIe Gen4 solutions is designed for quality by providing end-to-end data path protection, dynamic SLC cache support and integrated security support for the latest encryption standards.

Phison PCIe Gen4x4 NVMe controllers are currently shipping in a number of technology partners’ products, enabling them to differentiate their own best-in-class solutions.  These solutions provide users with advances in 8K high-definition gaming capabilities, high-performance computing, artificial intelligence, machine learning and others.

“After several years since the announcement of the standard, the era of PCIe 4.0 solutions is upon us and Phison is at the forefront of this movement with our portfolio of Gen4x4 solutions,” said K.S. Pua, CEO of Phison Electronics.  “We pride ourselves with our long history of innovation supporting emerging technologies.  From doubling transfer rates, to improving power consumption to increasing performance, Phison-based SSD solutions allow our integration partners to deliver the next-generation PC, gaming and storage systems needed to satisfy increasing consumer demand.”

Phison is showcasing its lineup of PCIe Gen4 SSD solutions, including the public debut of its E19 controller, at the Flash Memory Summit (FMS), August 6-8 in Booth No. 219 at the Santa Clara Convention Center in Santa Clara, California.  The booth will also host demonstrations of Phison-empowered solutions from technology partners Liqid and Cigent.

To schedule a time to meet with company representatives, interested parties can contact Michael Wu at このメールアドレスはスパムボットから保護されています。閲覧するにはJavaScriptを有効にする必要があります。.