Zinwell Corporation (2485) Q2 2025 earnings summary

Executive summary

• Revenue for the first half of 2024 was NT$1,073.9 million, down 45% year-over-year; net loss attributable to parent was NT$408.97 million, with basic/diluted EPS of -NT$1.29.

• Gross margin remained negative, with gross loss of NT$131.0 million for the period, reflecting continued operational challenges.

• Cash and cash equivalents at June 30, 2024, stood at NT$1,425.2 million, down from NT$2,243.3 million a year earlier.

Financial highlights

• Operating loss for H1 2024 was NT$379.5 million, compared to NT$286.8 million loss in H1 2023.

• Total assets decreased to NT$5,810.4 million as of June 30, 2024, from NT$8,300.5 million a year earlier.

• Inventory write-downs and impairment losses on intangible assets and receivables significantly impacted results.

• Cash flow from operations was NT$224.5 million inflow, down from NT$998.1 million inflow in H1 2023.

Outlook and guidance

• No dividends were distributed for 2023 and 2024 due to continued losses.

• Management continues to focus on capital preservation and risk control amid ongoing market headwinds.