Hotai Motor (2207) Q4 2025 earnings summary

Executive summary

• Consolidated revenue for 2025 was NT$282.6 billion, nearly flat year-over-year, with net income at NT$22.5 billion, down 6% from 2024.

• Basic EPS was NT$33.93, compared to NT$36.74 in 2024.

• The audit opinion was unqualified, with key audit matters on receivables impairment and insurance claims reserves.

Financial highlights

• Total assets at year-end 2025 were NT$521.0 billion, up from NT$510.6 billion in 2024.

• Total equity increased to NT$123.8 billion, with non-controlling interests at NT$37.6 billion.

• Operating cash flow was NT$24.5 billion, while investing activities used NT$27.9 billion.

• Cash dividends of NT$20 per share were distributed for both 2024 and 2025.

Outlook and guidance

• IFRS 17 implementation in 2026 will change insurance revenue recognition and increase Hotai Insurance’s equity by 11% as of Jan 1, 2025.

• The group expects minimal volatility from discount rate changes due to the short-term nature of insurance contracts.