奇景光電 (HIMX) 2023 Q4 法說會逐字稿

Good day, and thank you for standing by. Welcome to the Himax Technologies Fourth Quarter and Full Year 2023 Earnings Conference Call. (Operator Instructions) Please be advised that today's conference is being recorded.

美好的一天，感謝您的支持。歡迎參加奇景科技 2023 年第四季和全年財報電話會議。 （操作員指示）請注意，今天的會議正在錄製中。

I would now like to turn the conference over to your host, Mr. Mark Schwalenberg from MZ Group. Please go ahead.

現在我想將會議交給東道主、來自 MZ 集團的 Mark Schwalenberg 先生。請繼續。

Welcome, everyone, to the Himax Fourth Quarter and Full Year 2023 Earnings Call. Joining us from the company are Mr. Jordan Wu, President and Chief Executive Officer; Ms. Jessica Pan, Chief Financial Officer; and Mr. Eric Li, Chief IR/PR Officer.

歡迎大家參加奇景光電 2023 年第四季和全年財報電話會議。加入我們公司的還有總裁兼執行長吳喬丹先生；潘潔女士，財務長；以及首席 IR/PR 長 Eric Li 先生。

After the company's prepared remarks, we have allocated time for questions in a Q&A session. If you've not yet received a copy of today's results release, please e-mail himx@mzgroup.us, access the press release on financial portals, or download a copy from Himax's website at www.himax.com.tw.

在公司準備好發言後，我們在問答環節分配了提問時間。如果您尚未收到今天的業績發布副本，請發送電子郵件至 hisx@mzgroup.us、在金融入口網站上造訪新聞稿或從奇景網站 www.himax.com.tw 下載副本。

Before we begin the formal remarks, I'd like to remind everyone that some of the statements in this conference call, including statements regarding expected future financial results and industry growth, are forward-looking statements that involve a number of risks and uncertainties that could cause actual events or results to differ materially from those described in this conference call.

在我們開始正式發言之前，我想提醒大家，本次電話會議中的一些聲明，包括有關預期未來財務業績和行業增長的聲明，都是前瞻性聲明，涉及許多風險和不確定性，這些風險和不確定性可能會影響您的投資決策。導致實際事件或結果與本次電話會議中所述的情況有重大差異。

A list of factors can be found in the company's SEC filings, Form 20-F for the year ended December 31, 2022, in the section entitled Risk Factors, as may be amended. Except for the company's full year of 2022 financials, which were provided in the company's 20-F and filed with the SEC on April 6, 2023, the financial information included in this conference call is unaudited and consolidated and prepared in accordance with IFRS accounting.

因素清單可在本公司提交給 SEC 的文件（截至 2022 年 12 月 31 日的年度 20-F 表）標題為「風險因素」的部分（可能會進行修訂）中找到。除本公司 20-F 中提供並於 2023 年 4 月 6 日向 SEC 備案的公司 2022 年全年財務資訊外，本次電話會議中包含的財務資訊未經審計並根據 IFRS 會計進行合併和編制。

Such financial information is generated internally and has not been subjected to the same review and scrutiny, including internal auditing procedures and external audits by an independent auditor to which we subject our annual consolidated financial statements and may vary materially from the audited consolidated financial information for the same period. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

此類財務資訊是內部產生的，並未經過相同的審查和審查，包括我們年度合併財務報表所接受的內部審計程序和獨立審計師的外部審計，並且可能與經審計的合併財務資訊有重大差異。同一時期。本公司不承擔公開更新或修改任何前瞻性陳述的義務，無論是由於新資訊、未來事件或其他原因。

I would now like to turn the call over to Mr. Eric Li. Eric, the floor is yours.

我現在想把電話轉給Eric Li先生。艾瑞克，地板是你的。

Thank you, Mark, and thank you, everyone, for joining us. My name is Eric Li, Chief IR/PR Officer at Himax. On today's call, I will first review the Himax consolidated finance performance for the fourth quarter and full year 2023, followed by our first quarter 2024 outlook. Jordan will then give an update on the status of our business, after which we will take questions. We will review our financials on an IFRS basis.

謝謝你，馬克，也謝謝大家加入我們。我是 Eric Li，奇景光電首席 IR/PR 長。在今天的電話會議上，我將首先回顧奇景第四季和 2023 年全年的綜合財務業績，然後是我們對 2024 年第一季的展望。然後喬丹將介紹我們業務的最新狀況，然後我們將回答問題。我們將根據國際財務報告準則審查我們的財務狀況。

We are delighted to announce that Q4 2023 revenues and profits both surpassed the guidance, while gross margin was in line with the guidance issued on November 9, 2023. This was primarily attributable to better-than-expected order momentum in major product categories as well as cost improvements.

我們很高興地宣布，2023 年第四季的營收和利潤都超過了指引，而毛利率與 2023 年 11 月 9 日發布的指引一致。這主要歸因於主要產品類別的訂單動能也優於預期作為成本的改進。

Fourth quarter revenues registered $227.7 million, a decrease of 4.5% sequentially, but exceeding our guidance range of a 5% to 11% decline. Gross margin came in at 30.3%, within our guidance range of around 30%, but down from 31.4% last quarter. Q4 profit per diluted ADS was $0.135, surpassing the guidance range of $0.09 to $0.13.

第四季營收為 2.277 億美元，環比下降 4.5%，但超出了我們 5% 至 11% 下降的指導範圍。毛利率為 30.3%，在我們 30% 左右的指導範圍內，但低於上季度的 31.4%。第四季每股攤薄美國存託憑證利潤為 0.135 美元，超出 0.09 美元至 0.13 美元的指導範圍。

Revenue from large display driver came in at $33.6 million, reflecting a sequential decrease of 23.1%. The decline was predominantly driven by prevailing weak macroeconomic conditions amidst the traditional peak seasonality in the fourth quarter.

大尺寸顯示驅動器的收入為 3,360 萬美元，環比下降 23.1%。下降的主要原因是第四季傳統旺季期間宏​​觀經濟狀況普遍疲軟。

Our TV IC sales declined mid-teens sequentially due to ongoing strict production and inventory control measures of leading customers. Monitors and notebook IC sales both declined double digits quarter-over-quarter caused by slowdown in order momentum as customers put forward their inventory purchases during prior quarter.

由於主要客戶持續嚴格的生產和庫存控制措施，我們的電視 IC 銷售額連續下降了 15%。由於客戶在上一季提出庫存採購，訂單動能放緩，顯示器和筆記型電腦 IC 銷售額均較上季下降兩位數。

Sales of large panel driver IC accounted for 14.8% of total revenue for the quarter, compared to 18.3% last quarter and 16.6% a year ago. Exceeding the guidance range, small and medium-sized display driver segment revenue reached $163.1 million, a sequential increase of 1.2%. This was underpinned by outperforming sales, particularly in TDDI products for automotive and tablet market.

大面板驅動IC的銷售額佔本季總營收的14.8%，而上季為18.3%，去年同期為16.6%。中小型顯示器驅動器部門收入超出指導範圍，達到 1.631 億美元，季增 1.2%。這得歸功於出色的銷售業績，尤其是汽車和平板電腦市場的 TDDI 產品。

Q4 automotive driver sales, combining both traditional DDIC and TDDI experienced a slight decline following the robust order restocking in both during the third quarter. However, Q4 automotive TDDI sales still increased high-teens sequentially, bucking the industry downturn, thanks to our solid pipeline of the design win projects.

繼第三季強勁的訂單補貨之後，第四季汽車驅動器銷售額（傳統 DDIC 和 TDDI）均出現小幅下滑。然而，由於我們堅實的設計贏得項目管道，第四季度汽車 TDDI 銷售額仍然逆勢增長，逆勢而上。

Meanwhile, our industrial-leading, cutting-edge automotive LTDI products started mass production for Geely Auto's NEV in the third quarter of 2023. Taken together, this not only solidifies our leadership in next-generation automotive display, but also reflects the robust market demand for advanced display technology. Jordan will elaborate in a few minutes.

同時，我們業界領先的尖端汽車LTDI產品已於2023年第三季開始量產吉利汽車新能源車。這不僅鞏固了我們在下一代汽車顯示領域的領先地位，也體現了強勁的市場需求用於先進的顯示技術。喬丹將在幾分鐘內詳細說明。

Fourth quarter automotive business encompassing drivers, automotive Tcon and OLED sales, continued to be our largest revenue contributor at over 45% of total sales. For tablet, Q4 sales grew high teens sequentially, exceeding our guidance, driven by successful new product launches by our customers during the quarter. Conversely, smartphone driver sales declined as expected, amidst a subdued festival season characterized by sluggish demand.

第四季汽車業務（包括驅動器、汽車 Tcon 和 OLED 銷售）仍然是我們最大的收入貢獻者，佔總銷售額的 45% 以上。對於平板電腦而言，在客戶在本季成功推出新產品的推動下，第四季銷售額連續成長了兩位數，超出了我們的指導。相反，在需求低迷的節日期間，智慧型手機驅動器的銷售量如預期下降。

The small and medium-sized driver IC segment accounted for 71.6% of total sales for the quarter compared to 67.6% in the previous quarter and a year ago. Fourth quarter non-driver sales also exceeded guidance with revenue of $31 million, but declined 8.2% from a quarter ago. The better-than-expected performance is attributable to resurgence in orders from our Tcon product line.

中小型驅動IC領域佔本季總銷售額的71.6%，而上一季及去年同期為67.6%。第四季非駕駛員銷售額也超出了預期，收入為 3,100 萬美元，但較上一季下降 8.2%。優於預期的業績歸因於我們的 Tcon 產品線訂單的回升。

Adoption of our automotive local dimming Tcon is rapidly expanding as evidenced by hundreds of project awards across the board. This paves the way for robust growth in coming years, mirroring the success seen in our automotive TDDI. Jordan will share some insights shortly.

我們的汽車局部調光 Tcon 的採用正在迅速擴大，數百個項目獎項證明了這一點。這為未來幾年的強勁成長鋪平了道路，反映了我們在汽車 TDDI 中所取得的成功。喬丹很快就會分享一些見解。

Non-driver products accounted for 13.6% of total revenues and compared to 14.1% in the previous quarter and 15.8% a year ago. Fourth quarter operating expenses were $52.3 million, a decrease of 17.9% of the previous quarter and roughly flat compared to a year ago. The substantial sequential decrease was caused mainly by decreased annual bonus and salary expenses, particularly offset by an increase in R&D expenses.

非驅動產品佔總營收的 13.6%，而上一季為 14.1%，去年同期為 15.8%。第四季營運費用為 5,230 萬美元，季減 17.9%，與去年同期基本持平。環比大幅下降主要是由於年度獎金和薪資費用減少，特別是被研發費用增加所抵銷。

Our standard practice of granting annual bonuses, including cash and RSUs at the end of September each year can lead to higher IFRS operating expenses in the third quarter compared to other quarters of the year. Amidst the prevailing macroeconomic headwinds, we are currently exercising strict budget and expense control with full- year 2023 OpEx declining 4% compared to the year before.

我們在每年 9 月底發放年度獎金（包括現金和 RSU）的標準做法可能會導致第三季的 IFRS 營運費用高於一年中其他季度。在當前宏觀經濟不利的情況下，我們目前正在實施嚴格的預算和費用控制，2023 年全年營運支出較前一年下降 4%。

Fourth quarter operating income was $16.7 million or 7.3% of sales compared to 10.5% of sales for the same period last year and 4.6% of sales last quarter. The sequential increase was primarily a result of lower operating expenses from lower annual bonus compensation, partially offset by decreased sales and gross margin in fourth quarter. The year-over-year decrease was primarily a result of lower sales and gross margin compared to the same period last year.

第四季營業收入為 1,670 萬美元，佔銷售額的 7.3%，去年同期為 10.5%，上季銷售額為 4.6%。環比成長主要是由於年度獎金薪酬下降導致營運費用下降，部分被第四季銷售額和毛利率下降所抵銷。年比下降主要是由於銷售額和毛利率較去年同期下降。

Fourth quarter after-tax profit was $23.6 million or $0.135 per diluted ADS compared to $11.2 million or $0.064 per diluted ADS last quarter and $42.2 million or $0.241 in the same period last year. It's worth noting that the favorable after-tax profits exceeding operating income reflects the positive tax adjustment made to rectify overestimated tax expenses for preceding quarters this year. As a reminder, and for the purpose of year-over-year comparison, we made a divestiture of long-term assets during Q4 2022, resulting in a non-operating income of around $11 million on an after-tax basis.

第四季稅後利潤為2,360 萬美元，或稀釋後每股美國存託憑證0.135 美元，而上季為1,120 萬美元，或稀釋後每股美國存託憑證0.064 美元，去年同期為4,220 萬美元，或稀釋後每股美國存託憑證0.241 美元。值得注意的是，稅後利潤超過營業收入的良好表現反映了今年為糾正前幾季高估的稅收費用而進行的積極稅收調整。提醒一下，為了進行同比比較，我們在 2022 年第四季剝離了長期資產，導致稅後營業外收入約為 1,100 萬美元。

Now let's quickly review the financial performance for the full year 2023. Revenues totaled $945.4 million, reflecting 21.3% decline compared to 2022. Persistent subdued global demand coupled with the looming recession concerns presented significant challenges to our operations throughout 2023. These market dynamics adversely affected both demand and the procurement process of panel customers, particularly in the particularly in the realm of [consumer] electronics. Yet, our optimism in the automotive business remains steadfast as automotive TDDI sales witnessed a remarkable surge of over 50%, reflecting the resilience and the potential of our largest business segment.

現在讓我們快速回顧一下2023 年全年的財務表現。收入總計9.454 億美元，與2022 年相比下降了21.3%。全球需求持續低迷，加上迫在眉睫的經濟衰退擔憂，給我們2023 年全年的營運帶來了重大挑戰。這些市場動態產生了不利影響面板客戶的需求和採購流程，特別是在[消費]電子領域。然而，我們對汽車業務的樂觀態度依然堅定，汽車 TDDI 銷量大幅成長 50% 以上，反映了我們最大業務部門的韌性和潛力。

Revenue from large panel display drivers totaled $175.7 million in 2023, marking a decrease of 33.5% year-over-year and representing 18.6% of total sales as compared to 22% in 2022. Small and medium-sized driver sales totaled $629.2 million, reflecting a decrease of 19.2% year-over-year and accounting for 66.5% of our total revenues as compared to 64.8% in 2022. Non-driver product sales totaled $140.5 million, a decrease of 11.2% year-over-year and representing 14.9% of our total sales, as compared to 13.2% a year ago.

2023 年，大尺寸面板顯示驅動器的收入總計為 1.757 億美元，年減 33.5%，佔總銷售額的 18.6%，而 2022 年為 22%。中小型驅動器的銷售額總計為 6.292 億美元，反映出年減19.2%，佔總收入的66.5%，而2022 年為64.8%。非駕駛產品銷售額總計1.405 億美元，年減11.2%，佔總收入的14.9%占我們總銷售額的13.2%，而一年前為13.2%。

Inventory management also presented unique challenges for us throughout the sluggish demand environment this year. To navigate these circumstances, our primary objectives were the strategic depletion of excess inventory while also tactically controlling our wafer stocks. Following quarters of aggressive destocking, which often involved sacrificing short term gross margin, inventory decreased to near historical norm by end of 2023. The remaining stocks feature promising customer design-ins and long product life cycles that lay the groundwork for a more stable outlook in 2024.

在今年需求低迷的環境下，庫存管理也為我們帶來了獨特的挑戰。為了應對這些情況，我們的主要目標是策略性地消耗過剩庫存，同時在戰術上控制我們的晶圓庫存。經過幾個季度的積極去庫存（通常會犧牲短期毛利率），庫存到2023 年底降至接近歷史正常水平。剩餘庫存具有有前景的客戶設計和較長的產品生命週期，為更穩定的前景奠定了基礎。2024 年。

Gross margin in 2023 was 27.9%, decreasing from 40.5% in 2022. As a reminder, in Q2, we strategically terminated high-cost foundry capacity agreements, leading to a depressed Q2 gross margin of just 21.7%. Despite the temporary margin contraction, this decision liberates new wafer starts from minimum fulfillment constraints while positioning us to capitalize on a turnaround in demand.

2023年毛利率為27.9%，較2022年的40.5%有所下降。提醒一下，在第二季度，我們策略性終止了高成本的代工產能協議，導致第二季度毛利率低迷至僅21.7% 。儘管利潤率暫時收縮，但這項決定將新晶圓生產從最低履行限制中解放出來，同時使我們能夠利用需求的改善。

Operating expenses in 2023 were $220.3 million, a decline of 4% from 2022, primarily a result of the lower vested portion of the annual bonus compensation awarded to employee in 2023 and the preceding years, partially offset by increased salary and R&D expenses.

2023 年的營運費用為 2.203 億美元，較 2022 年下降 4%，主要是由於 2023 年及之前幾年授予員工的年度獎金的既得部分較低，但部分被工資和研發費用的增加所抵消。

2023 operating income was $43.2 million, or 4.6% of sales, a decrease from $257.6 million, or 21.4% of sales in 2022. Our net profit for 2023 was $50.6 million, or $0.29 diluted ADS as compared to $237 million or $1.36 per diluted ADS in 2022.

2023 年營業收入為4,320 萬美元，佔銷售額的4.6%，低於2022 年的2.576 億美元，佔銷售額的21.4%。我們2023 年的淨利潤為5,060 萬美元，或稀釋後美國存託憑證0.29 美元，而稀釋後美國存託憑證為2.37 億美元，或稀釋後美國存託憑證1.36 美元2022年。

Turning to the balance sheet. We had $206.4 million of cash, cash equivalents and other financial assets as of December 31, 2023. This compares to $229.9 million at the same time last year and $155.4 million a quarter ago. We achieved a strong positive operating cash flow of $68.7 million for the fourth quarter as a result of substantial reduction in the inventory across major product lines. As of December 31, 2023, we had $40.5 million in long term unsecured loans with $6 million representing the current portion.

轉向資產負債表。截至 2023 年 12 月 31 日，我們擁有 2.064 億美元的現金、現金等價物和其他金融資產。相較之下，去年同期為 2.299 億美元，上季為 1.554 億美元。由於主要產品線的庫存大幅減少，我們在第四季度實現了 6,870 萬美元的強勁正營運現金流。截至 2023 年 12 月 31 日，我們擁有 4,050 萬美元的長期無擔保貸款，其中 600 萬美元為流動部分。

Our year-end inventories were $217.3 million, lower than $259.6 million last quarter and $370.9 million at the end of last year. Our inventory level has declined steadily over the last 5 quarters and reached a healthy level by end of 2023. Accounts receivable at the end of December 2023 was $235.8 million, a decline from $248.5 million last quarter and down from $261.1 million a year ago.

我們的年終庫存為 2.173 億美元，低於上季的 2.596 億美元和去年底的 3.709 億美元。我們的庫存水準在過去5 季穩定下降，並於2023 年底達到健康水準。截至2023 年12 月底的應收帳款為2.358 億美元，較上季的2.485 億美元有所下降，也較一年前的2.611 億美元有所下降。

DSO was 91 days at the quarter end as compared to 95 days last quarter and 79 days a year ago. Fourth quarter capital expenditures were $15.1 million versus $2.6 million last quarter and $2.3 million a year ago. Fourth quarter CapEx was mainly allocated to in-house testers for our IC design business in addition to other R&D-related equipment. Total capital expenditures for 2023 was $23.4 million as compared to $11.8 million in 2022.

季度末的 DSO 為 91 天，而上季為 95 天，去年同期為 79 天。第四季資本支出為 1,510 萬美元，上季為 260 萬美元，去年同期為 230 萬美元。第四季資本支出主要分配給我們IC設計業務的內部測試人員以及其他研發相關設備。 2023 年的資本支出總額為 2,340 萬美元，而 2022 年為 1,180 萬美元。

As of December 31, 2023, Himax has 174.7 million ADS outstanding, unchanged from last quarter. On a fully diluted basis, the total number of ADS outstanding for the fourth quarter was 175 million.

截至2023年12月31日，奇景已發行美國存託股1.747億股，與上季持平。在完全攤薄的基礎上，第四季流通在外的ADS總數為1.75億股。

Now turning to our first quarter 2024 guidance. We expect first quarter revenues to decline 9% to 16% sequentially. Gross margin is expected to be around 28.5% depending on the final product mix. The first quarter profit attributable to shareholders is estimated to be in the range of $0.02 to $0.05 per fully diluted ADS.

現在轉向我們的 2024 年第一季指引。我們預計第一季營收將環比下降 9% 至 16%。毛利率預計約為 28.5%，具體取決於最終產品組合。第一季股東應占利潤預計為每股完全攤薄後的美國存託股份 0.02 至 0.05 美元。

I will now turn the call over to Jordan to discuss our Q1 outlook. Jordan, the floor is yours.

我現在將把電話轉給喬丹，討論我們第一季的前景。喬丹，地板是你的。

Traditionally, business operations in the first quarter decelerate due to the Lunar New Year holidays. This year, exacerbated conditions due to sluggish demand are causing panel makers to strategically lower factory utilizations, in an attempt to support panel pricing and profitability.

傳統上，第一季的業務運作因農曆新年假期而放緩。今年，需求低迷導致的情況惡化，導致面板製造商策略性地降低工廠利用率，以支撐面板定價和獲利能力。

In tandem, OEMs and end customers are maintaining their cautious approach with heightened procurement scrutiny, even with inventories now at more manageable levels. This shift has resulted in shortened forecasts and more frequent last-minute orders, ultimately, constraining our visibility, particularly in consumer electronics products.

同時，原始設備製造商和最終客戶仍保持謹慎態度，加強採購審查，儘管庫存現在處於更易於管理的水平。這種轉變導致預測縮短和最後一刻訂單更加頻繁，最終限制了我們的知名度，特別是在消費性電子產品領域。

To fortify the resilience of our operations, we are actively implementing strategies to optimize costs and diversify suppliers in both foundries and back-end sources to enhance supply flexibility and cost-effectiveness. The recent partnership with Nexchip for the automotive market illustrated our supplier diversification strategy. It also highlighted our strategic approach to better align with customers' regional supply policies, particularly addressing the surging demand in China's automotive industry.

為了增強我們的營運彈性，我們正在積極實施優化成本並使代工廠和後端供應商多元化的策略，以提高供應靈活性和成本效益。最近與 Nexchip 在汽車市場的合作體現了我們的供應商多元化策略。它也強調了我們更好地配合客戶的區域供應政策的策略方針，特別是解決中國汽車產業不斷增長的需求。

In addition, our recent presence at the CES provided a comprehensive outlook on our strategic focus for the upcoming years, covering automotive, WiseEye AI and optical technologies. In automotive, our primary revenue contributor, we remain as optimistic as ever, given our extensive, unparalleled product portfolio across a broad spectrum of technologies from mainstream LCD technology to the emerging OLED technology.

此外，我們最近出席 CES，對我們未來幾年的策略重點進行了全面展望，涵蓋汽車、WiseEye AI 和光學技術。在我們的主要收入來源汽車領域，我們一如既往地保持樂觀態度，因為我們擁有廣泛、無與倫比的產品組合，涵蓋從主流 LCD 技術到新興 OLED 技術等廣泛技術。

Notably, within the automotive LCD display sector, we have secured hundreds of design wins in TDDI and local dimming Tcon and continue to see ongoing expansion in our pipeline. The majority of these design wins are slated for mass production in the next 2 years, underscoring our continued market dominance moving forward.

值得注意的是，在汽車 LCD 顯示領域，我們在 TDDI 和局部調光 Tcon 方面贏得了數百項設計勝利，我們的產品線仍在擴大。這些設計成果中的大部分都計劃在未來兩年內進行大量生產，這凸顯了我們在未來的持續市場主導地位。

Furthermore, our expansion into automotive OLED displays covering all of DDIC, Tcon, and touch controller, bolsters our market share leadership by offering customers an integrated bundle solution. As a reminder, our automotive driver business represented 36% of our total sales in the full-year 2023 and we anticipate it will expand to well over 40% of our total sales in 2024.

此外，我們擴展到涵蓋所有 DDIC、Tcon 和觸控控制器的汽車 OLED 顯示器，透過為客戶提供整合的捆綁解決方案，鞏固了我們的市場份額領先地位。需要提醒的是，我們的汽車驅動器業務佔 2023 年全年總銷售額的 36%，預計到 2024 年將擴大到佔總銷售額的 40% 以上。

In the AI domain, we are relentlessly dedicated to our WiseEye product line, where we have already achieved industry-leading ultralow power consumption and AI inference performance. Our achievement with WiseEye is also now further supported through strategic collaborations with ecosystem partners and system integration companies covering a broad range of AI applications. Concurrently, we are actively expanding our easy to adopt WiseEye module offering for the endpoint AI market to cater to its diverse needs and capitalize on the extensive opportunities in endpoint AI.

在AI領域，我們堅持不懈地專注於WiseEye產品線，已經實現了業界領先的超低功耗和AI推理性能。我們與 WiseEye 的成就現在也透過與涵蓋廣泛人工智慧應用的生態系統合作夥伴和系統整合公司的策略合作得到進一步支持。同時，我們正在積極擴展面向端點人工智慧市場的易於採用的 WiseEye 模組產品，以滿足其多樣化的需求並利用端點人工智慧的廣泛機會。

Looking further out on the horizon, while the realization of LCoS may span several years, the ultra-illuminance Color Sequential Front-Lit LCoS microdisplay that we unveiled at the CES marked a major technology breakthrough that we believe will pave the way for the realization of true see-through AR goggles.

展望未來，雖然 LCoS 的實現可能需要數年時間，但我們在 CES 上推出的超高亮度彩色順序前照式 LCoS 微顯示器標誌著一項重大技術突破，我們相信這將為實現 LCoS 鋪平道路。真正的透明AR 護目鏡。

In summary, driven by accelerating growth in our automotive segment and the expansion beyond our core driver business, we are well positioned for sustainable long-term revenue growth and profitability. Furthermore, our automotive, WiseEye, and LCoS product lines have attracted a strong global client base, which significantly extends our reach and strengthens our presence in markets worldwide while diversifying regional exposure and adding stability to our operations.

總而言之，在我們汽車領域的加速成長和核心驅動業務以外的擴張的推動下，我們為可持續的長期收入成長和獲利能力做好了準備。此外，我們的汽車、WiseEye 和LCoS 產品線吸引了強大的全球客戶群，這顯著擴大了我們的影響力並加強了我們在全球市場的影響力，同時實現了區域業務多元化並增加了我們營運的穩定性。

With that I will now begin with an update on the large panel driver IC business. In Q1 2024, we anticipate a sequential decline of single digits in large display driver IC revenue, primarily attributed to weaker-than-expected sell-through during the slow season. As I mentioned, panel makers are deliberately lowering factory utilizations, striving to safeguard panel prices by constraining panel supply amidst the prevailing sluggish market.

接下來，我將首先介紹大面板驅動 IC 業務的最新情況。 2024 年第一季度，我們預計大型顯示器驅動器 IC 收入將環比下降個位數，這主要是由於淡季期間的銷售低於預期。正如我所提到的，面板製造商正在刻意降低工廠利用率，在市場低迷的情況下透過限制面板供應來努力維護面板價格。

We expect Q1 sales for TV and monitor ICs to decline quarter-over-quarter. However, Q1 notebook IC sales are poised for decent increase, bolstered by customer restocking following several quarters of muted demand. In the notebook market, as customers strive to differentiate and add value to their products, a discernible trend is unfolding, marked by increasing adoption of touch features and AMOLED displays in premium notebooks and upcoming AI PCs.

我們預計第一季電視和顯示器 IC 的銷售額將季減。然而，在經歷了幾個季度的需求低迷後，由於客戶補充庫存，第一季筆記型電腦 IC 銷售額預計將出現可觀的成長。在筆記型電腦市場，隨著客戶努力實現產品差異化並為其產品增加價值，一種明顯的趨勢正在顯現，其特點是高端筆記型電腦和即將推出的人工智慧電腦越來越多地採用觸控功能和AMOLED 顯示器。

Touch features enhance user interaction and enrich AI user experience while AMOLED display elevates visual enhancements in areas such as gaming and entertainment. It's crucial to emphasize our heightened focus and the growing significance of both technologies.

觸控功能增強了使用者互動並豐富了人工智慧使用者體驗，而 AMOLED 顯示器則提升了遊戲和娛樂等領域的視覺增強效果。必須強調我們對這兩種技術的高度關注和日益增長的重要性。

Notably, during CES this year, we unveiled industry-leading on-cell AMOLED touch controller and in-cell TDDI for premium OLED and LCD notebooks respectively. Our on-cell AMOLED touch controller is designed to address the demand for accurate touch response and enhanced handwriting capability in the emerging mid-sized OLED displays for notebooks that feature thinner, lighter, brighter and wider color gamut visual experience.

值得注意的是，在今年的 CES 期間，我們推出了業界領先的 On-cell AMOLED 觸控控制器和 In-cell TDDI，分別用於高階 OLED 和 LCD 筆記型電腦。我們的On-cell AMOLED 觸控控制器旨在滿足筆記型電腦中新興中型OLED 顯示器對準確觸控響應和增強手寫功能的需求，這些顯示器具有更薄、更輕、更亮和更寬色域的視覺體驗。

What distinguishes our touch controller is a comprehensive set of features, which include support for various OLED panel types in rigid, flexible and hybrid; the capability to handle responsive touch operations of up to 10 fingers; and compatibility with various industry-standard active stylus protocols. By expanding our OLED portfolio to include a touch controller IC along with existing DDIC and Tcon, we provides a comprehensive AMOLED notebook solution.

我們的觸控控制器的獨特之處在於它具有一套全面的功能，其中包括支援剛性、柔性和混合的各種 OLED 面板類型；能夠處理最多 10 根手指的響應式觸控操作；並與各種行業標準有源手寫筆協議相容。透過擴展我們的 OLED 產品組合，將觸控控制器 IC 以及現有的 DDIC 和 Tcon 納入其中，我們提供了全面的 AMOLED 筆記本解決方案。

Meanwhile, our recently launched in-cell TDDI for LCD notebooks offers precise touch sensitivity, vibrant multi-finger operation, and acute active stylus functionalities, along with support for large size, high resolution, low power consumption, and slim bezel designs.

同時，我們最近推出的用於LCD 筆記型電腦的內嵌式TDDI 提供精確的觸控靈敏度、充滿活力的多指操作和敏銳的有源手寫筆功能，並支援大尺寸、高解析度、低功耗和窄邊框設計。

By leveraging these extensive product portfolios, we are well positioned to capitalize on this market shift through collaborations with key Korean and Chinese panel makers where mass production is scheduled to commence in the second half of this year for next generation premium notebook models.

透過利用這些廣泛的產品組合，我們能夠透過與韓國和中國主要面板製造商的合作，充分利用這一市場轉變，這些製造商計劃於今年下半年開始大規模生產下一代高端筆記型電腦型號。

Furthermore, the incorporation of high-value-added features increases the content value gained per panel while presenting a new opportunity for Himax. Looking ahead to 2025, we anticipate a decent replacement cycle when, armed with leading solutions for high-end market launched lately, Himax's presence in the notebook market will be further lifted.

此外，高附加價值功能的結合增加了每個面板所獲得的內容價值，同時為奇景帶來了新的機會。展望2025年，我們預計會有一個不錯的換機週期，屆時奇景光電憑藉近期推出的高端市場領先解決方案，在筆電市場的地位將進一步提升。

Turning to the small and medium-sized display driver IC business. First quarter revenue is expected to decline high teens sequentially, on the backdrop of traditional low seasonality where demand for consumer electronics remains sluggish.

轉向中小尺寸顯示驅動IC業務。在消費性電子產品需求依然低迷的傳統淡季背景下，第一季營收預計將季減十多歲。

Smartphone and tablet sales are projected to decline single digit and double-digit respectively in Q1. Automotive revenue is also expected to decline mid-teens sequentially, following robust order replenishment in previous quarters.

智慧型手機和平板電腦銷量預計第一季將分別出現個位數和兩位數下降。在前幾季強勁的訂單補充之後，汽車收入預計也將連續下降百分之十左右。

In contrast, Q1 automotive TDDI sales are still poised for sequential growth, defying recent reports of slower electronic vehicle demand in China. The swift and ongoing expansion of TDDI adoption, as evidenced by our over 400 secured design-win projects, positions us significantly ahead of our peers.

相比之下，第一季汽車 TDDI 銷量仍有望實現環比成長，這與最近有關中國電動車需求放緩的報導不符。我們的 400 多個安全設計獲勝項目證明了 TDDI 採用的迅速和持續擴展，使我們顯著領先於同行。

With approximately 30% of awarded projects currently in mass production and a continuous influx of new pipeline and design wins across the board, our leadership position is reinforced looking ahead into 2024 and beyond.

目前，約 30% 的獲獎項目已進入批量生產，並且新產品線和設計項目不斷湧入，展望 2024 年及以後，我們的領導地位將得到加強。

Remarkably, automotive TDDI sales are anticipated to account for almost half of total automotive driver sales in Q1. Meanwhile, a prominent trend is emerging as more customers opt for our TDDI or LTDI, coupled with our local dimming Tcon, as their standard development platform for crafting new automotive displays of various sizes.

值得注意的是，汽車 TDDI 銷售額預計將佔第一季汽車驅動器總銷售額的近一半。同時，隨著越來越多的客戶選擇我們的 TDDI 或 LTDI 以及我們的局部調光 Tcon，作為他們製作各種尺寸的新型汽車顯示器的標準開發平台，一個顯著的趨勢正在出現。

This movement has drawn the interest of leading panel makers, Tier 1s, and car manufacturers across the spectrum, who acknowledge the benefits of our supreme bundle solution to accelerate their new panel development and elevate their product values.

這項舉措引起了各領域領先面板製造商、一級供應商和汽車製造商的興趣，他們認識到我們卓越的捆綁解決方案在加速新面板開發和提升產品價值方面的優勢。

Moving on to our industry-leading LTDI. Himax is proud to be pioneering the introduction of LTDI to the automotive display market. Once again, we stand as the first company in the world to initiate mass production of LTDI, starting with Geely Auto's NEVs in the third quarter 2023.

轉向我們行業領先的 LTDI。奇景很榮幸能夠率先將 LTDI 引入汽車顯示市場。我們再次成為全球第一家開始量產LTDI的公司，從2023年第三季吉利汽車的新能源汽車開始。

For displays larger than 30 inches, the incorporation of LTDI signifies increased content value for Himax on a per-panel basis, where such large displays usually necessitate 6 or more LTDI chips and at least one local dimming Tcon. This opens a new revenue stream for us and fortifies our market leadership moving forward.

對於大於 30 吋的顯示器，LTDI 的加入意味著奇景光電在每個面板上增加了內容價值，這種大型顯示器通常需要 6 個或更多 LTDI 晶片和至少一個局部調光 Tcon。這為我們開闢了新的收入來源，並鞏固了我們未來的市場領導地位。

During CES this year, Himax presented the most comprehensive product lineup for display semiconductor technologies, ranging from traditional DDIC and TDDI, to cutting-edge LTDI and local dimming Tcon for LCD panel, and extending into AMOLED display solutions. Our AMOLED portfolio, which used to be comprised of DDIC and Tcon, now expands to on-cell touch controller. It's important to point out that the automotive industry upholds stringent standards of quality and reliability, surpassing those of consumer electronics.

今年CES期間，奇景光電展示了最全面的顯示半導體技術產品陣容，從傳統的DDIC和TDDI，到用於液晶面板的尖端LTDI和局部調光Tcon，並延伸到AMOLED顯示解決方案。我們的 AMOLED 產品組合過去由 DDIC 和 Tcon 組成，現在擴展到 On-cell 觸控控制器。需要指出的是，汽車產業堅持嚴格的品質和可靠性標準，超越了消費性電子產品的標準。

In acknowledgement of these heightened requirements, our recently unveiled AMOLED touch controller IC is meticulously engineered with an industry-leading touch signal-to-noise ratio exceeding 45 dB, making it the ideal solution to meet the needs of flexible OLED panels, often required for automotive application. It also provides improved sensitivity to challenging user conditions such as glove-wearing and wet finger operations, guaranteeing exceptional performance with display quality free from interference by touch-display interactions.

為了滿足這些更高的要求，我們最近推出的AMOLED 觸控控制器IC 經過精心設計，具有超過45 dB 的行業領先觸控信噪比，使其成為滿足柔性OLED 面板需求的理想解決方案，而柔性OLED 面板通常需要汽車應用。它還提高了對具有挑戰性的使用者條件（例如戴手套和濕手指操作）的靈敏度，保證了卓越的性能和顯示質量，不受觸控顯示器互動的干擾。

Furthermore, our touch controller supports multi-finger capacitive touch, is compatible with multiple OLED panel types and has the capability to cascade multiple chips in support of larger than 20-inch displays. With project awards from leading AMOLED panel manufacturers, our automotive AMOLED touch controller is poised to commence mass production in the upcoming quarters.

此外，我們的觸控控制器支援多指電容式觸控，相容於多種OLED面板類型，並能夠級聯多個晶片以支援大於20英吋的顯示器。憑藉領先 AMOLED 面板製造商的專案獎勵，我們的汽車 AMOLED 觸控控制器預計將在未來幾季開始大規模生產。

We continue to strive towards providing the most extensive array of automotive display solutions in the market. This commitment involves fostering robust partnerships with panel makers, Tier 1 suppliers, and car manufacturers across the globe, ensuring comprehensive solutions that cater to a wide spectrum of customer preferences and industry requirements.

我們繼續努力提供市場上最廣泛的汽車顯示解決方案。這項承諾涉及與全球面板製造商、一級供應商和汽車製造商建立牢固的合作夥伴關係，確保提供全面的解決方案，滿足廣泛的客戶偏好和行業要求。

In terms of our smartphone and tablet product lines, we continues to see lackluster demand in the market. On a positive note, our inventory has substantially rebalanced to a satisfactory level. With the destocking process nearly complete, we placed wafer starts for select products starting in Q2 last year. Concurrently, we are diligently working on improving our cost structure through supplier diversification and strategic alliances, thereby positioning ourselves for an anticipated resurgence in demand.

就我們的智慧型手機和平板電腦產品線而言，我們仍然看到市場需求低迷。從積極的方面來看，我們的庫存已大幅重新平衡至令人滿意的水平。隨著去庫存過程接近完成，我們從去年第二季開始為選定的產品開始生產晶圓。同時，我們正在努力透過供應商多元化和策略聯盟來改善我們的成本結構，為預期的需求復甦做好準備。

Next, for an update on our AMOLED business. As I mentioned earlier, we are actively venturing into AMOLED market by forging strategic partnerships with leading panel manufacturers in Korea and China, spanning a diverse range of applications, including automotive, tablet, notebook, and smartphones. As I just covered, we have made great progress in automotive, tablet, and notebook markets, where we offer comprehensive solutions covering DDIC, Tcon and touch controller.

接下來是我們AMOLED業務的最新動態。正如我之前提到的，我們正積極進軍 AMOLED 市場，與韓國和中國領先的面板製造商建立戰略合作夥伴關係，涵蓋汽車、平板電腦、筆記型電腦和智慧型手機等多種應用。正如我剛才介紹的，我們在汽車、平板電腦和筆記型電腦市場取得了長足的進步，我們提供了涵蓋 DDIC、Tcon 和觸控控制器的全面解決方案。

Mass production for most of these new solutions is expected to commence in the second half of 2024. In the smartphone AMOLED display driver segment, however, the prevailing slowdown in smartphone market demand has led to adjustments to our initial timeline. Nevertheless, collaborations with customers in Korea and China are ongoing with verification and partnership projects underway.

大多數新解決方案預計將於 2024 年下半年開始量產。然而，在智慧型手機 AMOLED 顯示驅動器領域，智慧型手機市場需求普遍放緩，導致我們對最初的時間表進行了調整。儘管如此，與韓國和中國客戶的合作仍在繼續，驗證和合作項目正在進行中。

I would like to now turn to our non-driver IC business update. First, for an update on our Tcon business. We expect Q1 Tcon sales to increase by single-digit sequentially, driven by increasing Tcon shipments for automotive displays and OLED displays for tablets. Despite subdued end market demand, we are actively developing next generation Tcon IC for OLED tablets, notebooks, and automotive applications. These initiatives aims to broaden and diversify our product offerings while also positioning ourselves to capitalize on a market resurgence.

我現在想談談我們的非驅動IC業務的最新情況。首先，了解我們 Tcon 業務的最新情況。我們預計，在汽車顯示器和平板電腦 OLED 顯示器 Tcon 出貨量增加的推動下，第一季 Tcon 銷售額將季增個位數。儘管終端市場需求低迷，我們仍在積極開發用於 OLED 平板電腦、筆記型電腦和汽車應用的下一代 Tcon IC。這些措施旨在擴大我們的產品範圍並使其多樣化，同時也使我們能夠利用市場復甦的機會。

Thanks to our cutting-edge local dimming technology, Himax is the industry leader in automotive Tcon with an unchallenged leading position of over 100 design-win projects under our belt. At CES 2024, we unveiled its latest local dimming Tcon which features advanced image enhancement with wide color spectrum, ensuring exceptional visual quality that supports resolutions of up to 12Kx1K, and exceptional dynamic contrast enhancement tailored to real time display content, all while adhering to power efficiency and stringent automotive safety standards.

憑藉我們尖端的局部調光技術，奇景成為汽車 Tcon 領域的行業領導者，在超過 100 個設計獲勝項目中擁有無可爭議的領先地位。在CES 2024 上，我們推出了最新的局部調光Tcon，它具有寬色譜的高級影像增強功能，確保支援高達12Kx1K 解析度的卓越視覺質量，以及針對即時顯示內容量身定制的卓越動態對比度增強功能，同時堅持功耗效率和嚴格的汽車安全標準。

The rapid increase in customer adoption reflects the growing traction and trust in our solutions. We expect a decent growth trajectory for local dimming Tcon over the next few years.

客戶採用率的快速成長反映了人們對我們的解決方案日益增長的吸引力和信任。我們預計未來幾年局部調光 Tcon 將呈現良好的成長軌跡。

Switching gears to the WiseEye Smart Image Sensing total solution, a cutting-edge endpoint AI integration featuring Himax's ultralow power AI processor, always-on CMOS image sensor, an advanced CNN-based AI algorithm. During CES this year, we highlighted a range of application demonstrations which have swiftly gained adoption across various domains, featuring our industry-leading ultralow power and potent AI capabilities.

轉向 WiseEye 智慧型影像感測整體解決方案，這是一種尖端端點 AI 集成，採用 Himax 的超低功耗 AI 處理器、始終在線的 CMOS 影像感測器、基於 CNN 的先進 AI 演算法。在今年的 CES 期間，我們重點展示了一系列應用演示，這些演示已迅速在各個領域中採用，展示了我們行業領先的超低功耗和強大的人工智慧功能。

We achieved noteworthy progress with customers, particularly in implementing WiseEye in smart door locks. The collaboration with the China smart door lock leader, DESMAN, marks a groundbreaking feature advancement in the door lock industry, as our ultralow power WiseEye AI, with remarkably low power consumption of just 1 milliwatt, enables the world's first smart door lock featuring uninterrupted surveillance with 24/7 real-time sentry monitoring while at the same time significantly extending battery life.

我們與客戶取得了顯著的進展，特別是在智慧門鎖中實施 WiseEye 方面。與中國智慧門鎖領導者德斯曼的合作，標誌著門鎖行業突破性的功能進步，我們的超低功耗WiseEye AI以僅1毫瓦的超低功耗，實現了全球首款具有不間斷監控功能的智慧門鎖具有24/7即時哨兵監控，同時顯著延長電池壽命。

We also showcased an adoption of WiseEye in a capsule endoscope, a highly encouraging advancement in the medical area. WiseEye AI solution empowers tiny pill-sized capsule endoscopes which are easy to swallow, facilitating smooth medical examination processes. The device consumes minimal power to sustain continuous image capture and transmission for up to 12 hours.

我們也展示了 WiseEye 在膠囊內視鏡中的應用，這是醫療領域非常令人鼓舞的進步。 WiseEye AI解決方案賦能微型藥丸大小的膠囊內視鏡，易於吞嚥，促進醫療檢查過程的順利進行。該設備消耗最少的電量來維持長達 12 小時的連續影像擷取和傳輸。

This creates a significantly simplified medical process which -- when compared to conventional procedures, which often involves the use of invasive endoscope tubes. We are excited about the potential for this transformative development for the healthcare industry and expect to commence production with a customer in 2025.

與通常涉及使用侵入性內視鏡管的傳統手術相比，這顯著簡化了醫療過程。我們對醫療保健產業這項變革性發展的潛力感到興奮，並預計在 2025 年與客戶開始生產。

Turning to an update on WiseEye2, our new generation AI processor. We are honored to report that WiseEye2 was awarded the 2023 Best AI Product Award by EE Awards Asia, further elevating Himax's WiseEye AI prominence in the industry. WiseEye2 is pioneering a new standard in endpoint AI benchmarks, earning recognition for its outstanding AI inference capability, industry-leading ultralow power efficiency, and advanced security features.

接下來是我們新一代人工智慧處理器 WiseEye2 的更新。我們很榮幸地宣布，WiseEye2 榮獲 EE Awards Asia 頒發的 2023 年度最佳人工智慧產品獎，進一步提升了奇景光電 WiseEye AI 的產業地位。 WiseEye2 開創了端點人工智慧基準的新標準，以其出色的人工智慧推理能力、業界領先的超低功耗和先進的安全功能而獲得認可。

In the realm of context-aware AI, WiseEye2 facilitates high-precision detection with features such as face mesh, facial landmark, hand gesture, and human pose and skeleton, which expands the intuitive, user-friendly scope of interactive applications in real-life, all achieved with minimal power consumption.

在上下文感知人工智慧領域，WiseEye2透過人臉網格、臉部標誌、手勢、人體姿勢和骨骼等特徵實現高精度檢測，擴展了現實生活中直觀、人性化的交互應用範圍，所有這些都是以最小的功耗實現的。

Moreover, WiseEye2 streamlines the system integration with a rich set of peripheral interfaces, effectively lowering the system cost for edge appliances by eliminating the need for costly, power-hungry discrete MCUs otherwise required to process various sensor data.

此外，WiseEye2透過豐富的周邊介面簡化了系統集成，消除了處理各種感測器資料所需的昂貴、耗電的分立MCU，從而有效降低了邊緣設備的系統成本。

Additionally, WiseEye2 boasts versatile sensor fusion capabilities, encompassing image, video, audio, vibration and thermal inputs. This enables sophisticated, integral and highly accurate detection with low latency, especially suitable in anomaly detection with timely warnings, making it an ideal solution for a range of industrial applications, notably in automated and unmanned factories.

此外，WiseEye2 還擁有多功能感測器融合功能，包括影像、視訊、音訊、振動和熱輸入。這可以實現複雜、完整、高精度的低延遲檢測，特別適合異常檢測並及時發出警告，使其成為一系列工業應用的理想解決方案，特別是在自動化和無人工廠。

Alongside our ongoing collaboration with end customers, significant progress is being made in partnerships with major CPU and AP SOC players in preparation for their next generation smart notebooks, AI PCs, surveillance applications and a host of other endpoint AI applications. We will provide more details as they come about.

除了與最終客戶的持續合作外，我們與主要 CPU 和 AP SOC 廠商的合作也取得了重大進展，為他們的下一代智慧型筆記型電腦、AI PC、監控應用程式和許多其他端點 AI 應用程式做好準備。我們將在發佈時提供更多詳細資訊。

Concurrently, to meet various application requirements and extend market reach, we are in collaborations with numerous ecosystem partners and system integration companies, offering hands-on development tools and rigorous AI models to streamline customer development efforts and reduce cost for their AI product introduction. The launch of our production-ready WiseEye Modules exemplifies this business model. These modules incorporate Himax's low-power CMOS image sensors, WiseEye1 or WiseEye2 AI processor, and versatile AI models from either in-house or third-party partners.

同時，為了滿足各種應用需求並擴大市場覆蓋範圍，我們與眾多生態系統合作夥伴和系統整合公司合作，提供實用的開發工具和嚴格的人工智慧模型，以簡化客戶的開發工作並降低其人工智慧產品推出的成本。我們推出的可投入生產的 WiseEye 模組就是這種商業模式的例證。這些模組整合了奇景的低功耗 CMOS 影像感測器、WiseEye1 或 WiseEye2 AI 處理器以及來自內部或第三方合作夥伴的多功能 AI 模型。

Meticulously designed with tiny form factors, highly integrated and plug-and-play characteristics, the modules feature user-programmable, pre-loaded AI models to facilitate seamless system integration, lowering the entry barrier and cost for AI development. This initiative is particularly well-suited for early-stage market engagement applications.

這些模組經過精心設計，具有微小的外形尺寸、高度集成和即插即用的特性，具有用戶可編程、預加載的人工智能模型，以促進無縫系統集成，降低人工智能開發的進入門檻和成本。該計劃特別適合早期市場參與應用。

Furthermore, we continue to collaborate with ecosystem partners to unveil a spectrum of plug-and-play AI modules that incorporate advanced no-code/low-code AI solutions. By leveraging their strengths in specific domains and existing channels, these collaborative efforts ensure we can meet diverse development needs for both software and hardware.

此外，我們繼續與生態系統合作夥伴合作，推出一系列包含先進的無程式碼/低程式碼人工智慧解決方案的即插即用人工智慧模組。透過利用他們在特定領域和現有管道的優勢，這些協作努力確保我們能夠滿足軟體和硬體的多樣化開發需求。

Notably at CES 2024, our partnership with Seeed Studio on its battery-powered endpoint AI vision processing module, Grove Vision AI Module V2, significantly underscores our dedication to making AI technology easily accessible. After years of dedicated efforts to enhance our AI capabilities in ultralow power AI processing and image sensing for endpoint AI applications, we believe that our WiseEye AI business will emerge as a multi-year structural growth driver for Himax.

值得注意的是，在 CES 2024 上，我們與 Seeed Studio 就其電池供電端點 AI 視覺處理模組 Grove Vision AI Module V2 進行了合作，這極大地凸顯了我們致力於讓 AI 技術變得更容易獲得。經過多年致力於增強我們在端點人工智慧應用的超低功耗人工智慧處理和影像感測方面的人工智慧能力，我們相信我們的WiseEye人工智慧業務將成為奇景光電的多年結構性成長動力。

Lastly, I would like to provide an update on our optical product lines. Himax is a distinguished industry leader with a diverse range of optical and optoelectronics products crucial for building emerging metaverse applications. We strive to innovate and advance various technologies in this arena, including Wafer Level Optics, 3D Sensing, Liquid Crystal on Silicon, among others, pushing the envelope in a variety of fields. Our technological expertise and extensive manufacturing experience are evident in growing clientele for AR/VR goggles and ongoing engineering projects.

最後，我想介紹一下我們光學產品線的最新情況。奇景光電是傑出的產業領導者，擁有對建構新興虛擬宇宙應用至關重要的各種光學和光電產品。我們致力於在這領域創新和推進各種技術，包括晶圓級光學、3D 感測、矽基液晶等，在各個領域突破極限。我們的技術專長和豐富的製造經驗在 AR/VR 護目鏡和正在進行的工程項目不斷增長的客戶中得到了體現。

Now, let's review some recent progress we have made. First, on our advancements in LCoS, a technology where Himax boasts a decade-long expertise and proven track record of shipments for AR goggles with global leading names. Our latest breakthrough Color Sequential Front-Lit LCoS Microdisplay offers unparalleled industry-leading brightness of up to 180,000 nits, providing ultra-luminance performance in vibrant RGB displays.

現在，讓我們回顧一下我們最近的一些進展。首先，關於我們在 LCoS 方面的進步，奇景光電在這項技術上擁有十年的專業知識和全球領先品牌 AR 護目鏡的可靠出貨記錄。我們最新的突破性彩色順序前照式 LCoS 微型顯示器提供無與倫比的行業領先亮度，高達 180,000 尼特，在充滿活力的 RGB 顯示器中提供超亮度性能。

It also features superior optical power efficiency, a compact form factor, and ultra-lightweight design which make it the best choice for the next generation of see-through AR devices. Currently, Himax is actively involved in follow-up engineering activities in collaboration with key tech players and anticipates significant opportunities in the coming years.

它還具有卓越的光功率效率、緊湊的外形尺寸和超輕量設計，使其成為下一代透視 AR 設備的最佳選擇。目前，奇景正積極參與與主要技術參與者合作的後續工程活動，並預計未來幾年將出現重大機會。

Next, let's discuss the recent introduction of nano-imprint optical film technology in automotive lighting by Himax's subsidiary, CMVT, in collaboration with Ta Yih Industrial, a global leader in automotive lighting manufacturing. The state-of-the-art technology was implemented within a leading-edge LED Edge-Lit Type automotive lighting.

接下來，我們來討論奇景子公司CMVT最近與全球汽車照明製造領導者大億工業合作，在汽車照明領域推出奈米壓印光學薄膜技術。最先進的技術被應用在領先的 LED 側光式汽車照明。

By leveraging our nano-imprint optical film, side-emitting LED light is reflected or refracted towards the illumination direction of the automotive lamps, ensuring uniformity, minimizing fixture size, and enabling precise control of light, compared to conventional direct-lit type automotive lighting. This results in enhanced efficiency, reduced LED usage, and the ability to create versatile patterns at a significantly lower cost.

與傳統直下式汽車照明相比，利用我們的奈米壓印光學薄膜，側發光LED 光向汽車燈的照明方向反射或折射，確保均勻性，最大限度地減小燈具尺寸，並實現對光的精確控制。這可以提高效率、減少 LED 使用量，並能夠以顯著降低的成本創建多種圖案。

This groundbreaking development unlocks not only extensive visual possibilities for automotive lighting, but also interior light decoration design as well as related illumination applications. We will provide more updates as they come about.

這項突破性的發展不僅為汽車照明帶來了廣泛的視覺可能性，而且還為車內燈光裝飾設計以及相關照明應用帶來了可能性。我們將及時提供更多更新。

We believe our optical and optoelectronics technologies is poised to play an important enabling role in developing next generation metaverse applications. We are committed to advancing this technology suite, collaboratively expanding application possibilities with industry leaders who are deeply devoted to advancing their next-generation metaverse-related products.

我們相信，我們的光學和光電子技術將在開發下一代虛擬宇宙應用程式中發揮重要的推動作用。我們致力於推動此技術套件的發展，與致力於推動下一代元宇宙相關產品的產業領導者合作擴大應用可能性。

For non-driver IC business, we expect revenue to decline single-digit sequentially in the first quarter.

對於非驅動IC業務，我們預計第一季營收將環比下降個位數。

That concludes my report for this quarter. Thank you for your interest in Himax. We appreciate you joining today's call and now ready to take questions.

我本季的報告到此結束。感謝您對奇景光電的關注。我們感謝您參加今天的電話會議，現在準備好回答問題。

(Operator Instructions) I'm showing no questions at this time. I would now like to turn it back to Jordan Wu for closing remarks.

（操作員說明）我目前沒有提出任何問題。現在我想請吳喬丹做總結發言。

As a final note, Eric Li, our chief IR/PR officer, will maintain investor marketing activities and continue to attend investor conferences. We will announce the details as they come about. Thank you and have a nice day.

最後一點，我們的首席投資者關係/公關官 Eric Li）將維持投資者行銷活動並繼續參加投資者會議。我們將在細節出現時公佈。謝謝你，祝你有美好的一天。

This concludes today's conference call. Thank you for participating. You may now disconnect.

今天的電話會議到此結束。感謝您的參與。您現在可以斷開連線。