Feng Tay Enterprises (9910) Investor presentation summary

Company overview

• Founded in 1971 with headquarters in Yunlin Science and Industrial Park, Taiwan.

• Specializes in shoe manufacturing and sales with a capital of NTD 9,875 million.

• Production capacity is distributed across China (10%), Indonesia (14%), Vietnam (46%), and India (30%).

• Employs approximately 135,000 people.

Financial performance (2025 2Q and 1-2Q)

• 2Q 2025 revenue was NT$20,400 million, down 2% QoQ and 8% YoY.

• 2Q 2025 net profit margin dropped to 4%, with EPS at NT$0.73, down 37% QoQ and 54% YoY.

• 1-2Q 2025 revenue totaled NT$41,123 million, a 4% YoY decrease; net income was NT$2,025 million, down 33% YoY.

• Gross margin improved to 24% in 2Q 2025, up 3ppt YoY.

• Annualized ROE for 2Q 2025 was 13%, down from 26% YoY.

Balance sheet and cash flow

• Total assets as of June 30, 2025, were NT$49,266 million; equity was NT$22,638 million.

• Cash balance decreased to NT$3,028 million from NT$5,141 million at year-end 2024.

• Bank loans reduced to NT$3,916 million, and dividend payable increased to NT$5,040 million.

• Cash from operating activities in 1-2Q 2025 was NT$2,441 million; capital expenditures were NT$1,553 million.

• Inventory turnover days increased to 51 days as of June 2025.