Heat Sinks

[Leading global supplier NB heatsink four percent market share] Author Lin Minghui

Text can Ti Precision was founded in 1992, the current capital of two ‧ eighty-four billion, currently has Kunshan plant covers an area of ​​Wan Ping able ti, seven hundred employees, as well as at five industrial zones can Ti Corporation Number of Persons 五 ○ staff person. The main products of the main energy Ti punch buckled fins, this product is mainly used in notebook computers and desktop computer cooling module, currently able to Ti in the global notebook computer with cooling fins, the market share has been up Sichengyishang, the internationally renowned manufacturers Intel's venture capital shares can also Ti. Over the past few years can be a positive addition to Ti next-generation consoles in the layout applications, since this year also saw significant results, it can be said that this year the company began to focus on application of one of the major growth.
Last year the company's consolidated revenue nine ‧ thirty-nine billion, annual growth rate of fifteen ‧ twenty-six%, after-tax earnings ○ ‧ eighty-four billion, earnings per share three ‧ one yuan; consolidated revenue in the first quarter two ‧ seventy-eight billion, annual growth thirty-two ‧ twenty-five%, after-tax earnings ○ ‧ billion, earnings per share ○ ‧ sixty-nine yuan; settlement of consolidated revenue in the first half reached five ‧ twenty-three billion, annual growth still reached thirty-five ‧ ○ seven percent.
Ti is able to establish the initial tooling design of the main plant has been relocated to eighty five shares seven industrial areas, the purchase of a continuous punching device, began its transition to professional stamping factory radiator. Ti can be obtained in succession after Taiwan, China, Japan, Europe and the United States heatsink related process patents. With superior technology and a number of patents, cooling modules can be hard Ti market success, and specialize in key components ─ heatsink; able ti is already the world leader in NB heatsink, now has four percent global market share.

Focus cooling technology and research and development component to win

Ti in the cooling module can be in the leading position in the industry as well as its own ideal profitability. Listed on the Taiwan stock market because there was no energy Ti competitors, the market in general and can be used to heat Ti downstream industry, including double-hung, AVC, over the public to compare. The results showed that the profitability of the leading energy Ti majority of the downstream module plant with cooling module sixteen times times the industry average PE ratio point of view, can twips Emerging price earnings ratio reached fifteen times, is actually quite reasonable. Major corporate spotted able to mention the market leader, excellent technical standards, strong financial structure and the potential development of new business, as well as promising energy Ti fin industry in the long-term growth potential.
United's current operations can focus as heat sink design, development, production and distribution; company still did not plan to carry out for the overall cooling module production more resource integration, but more will keep the heat sink of the production of key components, like a strong industry in order to focus the heat pipe as the sole mode of production. Which is why the positioning of key component suppliers can continue for Ti heatsink technology upgrading in the manufacturing process, to be notified of the main raw material of copper prices continued to go Yang Ti on the products can cause great pressure on gross margins, the company then developed a new R & D Stamping / fastening technology to replace traditional aluminum extrusion processes.
But can Ti chairman Weiwen Zhen pointed out that technological development is a core value can Ti, which is Weiwen Zhen technical background dictates. Weiwen Zhen think that looking ahead, make this industry in Taiwan industry, most did not escape the family foundry pattern, or just stay at the technical level, did not come to research and development (R & D), revenue growth has also been a great restrictions. But to engage in the material industry, the value can not be easily seen with the naked eye came, took a nail to make it simple, if you want to grab a single low price, then, several programs can handle that. But can Ti was able to reliability, physical properties, quality, environmental requirements, and so to make a complete study and report. Ti can be done in this line for so long, must rely on technology to accumulate, during which patent applications and the number of open mold has become a great asset to the company.
Therefore we can say little else the same industry R & D, but it can Ti down for many years, relying on research and development so that customers can be assured Ti on the part of the product, do not worry about product components will be affected while the problem returns. Cooling module with the same industry that can Ti Quanta, Compal deep relationships will help secure orders. While the electronics industry is also sometimes speak procurement relationship, but in fact, quality is more important Weiwen Zhen emphasized. Because the majority of NB foundries to foreign brand manufacturers, some end-customer requirements foundries can take the heat sink Ti, Ti even request can be marked with the name on the heat sink. Weiwen Zhen suppliers even if that would grab one drink alcohol, there is no quality is impossible, so the quality is the ability of the two Ti competitive advantage.
According to CITIC Securities research report that can Ti With superior technology and patents, with key components of the strategy of specializing, making it the NB heatsink leader with a market share over 40%. Currently all of the heat sink can Ti were collected stamping, fastening technology to produce. Since the main positioned as a key component suppliers, thus continuing the process for the heat sink to technological improvements is a major focus. Copper prices rose in recent years, raw materials have squeezed profit margin for the product, the company has also developed a new stamping, fastening technology to replace traditional aluminum extrusion processes.
Stamping / heat sink but buckled fastening through stamping technology combined with a number of groups composed of aluminum or copper fins; fins and then to form the solder and the base thermoplastic adhesive bonding. Compared to the traditional aluminum extrusion process, this new technique has the advantage of more stamping, for example made out of the latter have a larger heat sink cooling area on the lighter weight, in addition to new technology can also be through a variety of stamping selection of raw materials to produce products of different shapes. Causes the above advantages, the new technology has gradually replaced the aluminum extrusion process into the mainstream.
Virtually all laptops today have to use punching fastening the heat sink, and since the second half ○ four years, Dell has introduced stamping fins to their tables which use electric cooling modules. According ○ ○ 五年 tables electric cooling module heat sink type using the proportion of corporate forecast global cooling module tables in about 30% of electricity is now using stamping engager, this means that the traditional aluminum extrusion film still occupies the other seven into demand.
The Ti addition to technology as the foundation can, pay attention to research and development, and focus on key components, the energy Ti competitors are small-scale industry, the lack of copper procurement bargaining power. This coupled with a limited output of key components, cooling module plant to reduce costs and vertical integration in progress at the same time, still tend to self-energy Ti obtain fins, rather than re-enter their high capital expenditures and R & D from the system, these reasons are so Ti can get a good industry positioning. CITIC Securities also believed to be able to ensure its cooling Ti industry supply chain value with no fear, barriers to entry remained at a high level.