Cheng Shin Rubber (2105) Q3 2025 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2025 was NT$69.83 billion, down 5% year-over-year; Q3 revenue was NT$23.67 billion, down 7% from Q3 2024.

• Net income for the nine months was NT$3.99 billion, a 42% decrease year-over-year; Q3 net income was NT$1.62 billion, down from NT$2.33 billion in Q3 2024.

• Gross margin for the nine months was 23%, compared to 25% in the prior year period.

Financial highlights

• Operating profit for the nine months was NT$5.74 billion, down from NT$8.49 billion year-over-year.

• Basic and diluted EPS for the nine months were NT$1.23, compared to NT$2.13 in the prior year.

• Cash and cash equivalents at September 30, 2025 were NT$26.53 billion, up from NT$24.49 billion a year earlier.

• Total assets stood at NT$138.91 billion, with total equity at NT$82.63 billion and total liabilities at NT$56.28 billion.

Outlook and guidance

• Management continues to monitor the impact of global economic conditions and foreign exchange volatility on operations.

• The company is maintaining a conservative capital structure and gearing ratio below 200%.