Test Rite Retail (7867) Q2 2025 earnings summary

Executive summary

• H1 2025 revenue declined YoY, while operating income, net income and EPS increased; operating cash flow also improved.

• The accountants issued a qualified review conclusion because a non-significant subsidiary’s financial statements were not reviewed; that subsidiary represented 2.08% of assets and 12.32% of comprehensive income.

Financial highlights

• H1 revenue was NT$4,588.6m, down from NT$4,894.7m YoY; gross profit was NT$1,717.4m versus NT$1,815.6m.

• Operating income was NT$226.7m versus NT$163.5m; pretax income was NT$223.0m versus NT$139.2m.

• Net income and comprehensive income were NT$177.9m versus NT$131.2m; basic and diluted EPS were NT$2.20 versus NT$1.31.

• Operating cash flow was NT$495.7m versus NT$143.9m; cash and cash equivalents reached NT$1,011.0m at June 30, 2025, versus NT$410.8m at December 31, 2024.

Segment performance

• Operations were reported as one segment, with performance evaluation and resource allocation managed on a consolidated basis.