SynPower (6658) Q2 2025 earnings summary

Executive summary

• Revenue for the first half of 2024 was NT$1,205,466 thousand, up 58% year-over-year; Q2 revenue was NT$718,958 thousand, up 49% from Q2 2023.

• Gross profit margin for H1 2024 was 23%, slightly up from 22% in H1 2023.

• Net income attributable to owners for H1 2024 was NT$10,612 thousand, down 34% year-over-year; Q2 saw a net loss of NT$3,128 thousand.

• EPS for H1 2024 was NT$0.30, compared to NT$0.49 in H1 2023; Q2 EPS was -NT$0.09.

Financial highlights

• Operating income for H1 2024 was NT$72,428 thousand, up from NT$19,899 thousand in H1 2023.

• Significant foreign exchange losses impacted non-operating results, with a net FX loss of NT$48,754 thousand in H1 2024.

• Total assets as of June 30, 2024, were NT$3,085,651 thousand, up from NT$2,595,336 thousand a year earlier.

• Cash and equivalents at period end were NT$818,656 thousand, up from NT$689,861 thousand at June 30, 2023.

• Equity attributable to owners was NT$1,275,216 thousand, up from NT$1,037,175 thousand at June 30, 2023.

Outlook and guidance

• Management continues to monitor IFRS changes and expects no material impact from new standards.

• Ongoing investments in capacity and R&D, with new borrowings and capital increases to support expansion.