Auo Corp S/Adr New

Welcome to AU Optronics 2023 second quarter financial results conference. Before the meeting starts, all lines are being placed on mute. After the presentations by the management team, there will be a question and answer session. Now I would like to hand over to Ms. Julia Zhao, AU's IR officer. Thank you, ladies and gentlemen. Good afternoon. I am Julia Chao, a USIR officer. On behalf of the company, I would like to welcome you to participate in our 2023 Second Quarter Financial Results Conference. I'm joined by four executives, Paul Peng, Chairman and Group Chief Strategy Officer, Frank Ke, CEO and President, James Chen, Senior VP of the Display Strategy Business Group, Ben Zheng, our CFO. The agenda of today is as follows. First of all, Ben will go over our Q2 results and provide you with our Q3 guidance. Afterwards, Paul will have an opening remark. Then we will proceed to questions and answers. For the first part of the Q&A session, we will address the questions that we have collected from analysts before the meeting. Then if there are still more questions, we will open the line for you to post more questions. So that was the agenda. Now, before I turn over to Ben, please allow me to remind you that all forward-looking statements contain risks and uncertainties. Please also spend some time to read the safe harbor notice on slide number two. Now, Ben, please. Good afternoon. Now I'd like to go over our Q2 financial results. In Q2, display demand recovered, driving customers to replenish their stocks. Area shipment sanities both increased, aided by our persistent material cost reduction efforts. Panel revenue increased, and gross profit and EBITDA both returned to the positive range. In Q2, our net sales came in at 63.3 billion, up by nearly 24% QOQ. Gross profit was 2 billion. OP loss lowered to 4.4 billion. Net loss attributable to owners of the company narrowed to 4.8 billion.

EBITDA margin was 5.6%. Next slide, balance sheet.

At the end of Q2, cash and cash equivalents was 90.5 billion. Short-term debt and long-term debt combined was 114.3 billion, up by 11.1 billion cubic cube. Year-in ratio was 14.1%. Q2's inventory stayed at 28.4 billion. Inventory turnover was 42 days. Next slide. Cash flow. We generated from operating activities 7.9 billion in Q2. Cap tax was 5.9 billion.