Mao Bao Income Statement

Financials in millions TWD. Fiscal year is January - December.

Millions TWD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	675.1	593.17	554.26	587.1	619.35
Revenue Growth (YoY)	13.81%	7.02%	-5.59%	-5.21%	-0.22%
Cost of Revenue	396.68	349.68	339	364.56	373.33
Gross Profit	278.43	243.49	215.26	222.54	246.03
Selling, General & Admin	230.29	230.17	217.33	220.17	224.41
Research & Development	3.62	4.66	5.03	6.11	4.29
Operating Expenses	233.89	234.89	222.34	226.12	228.78
Operating Income	44.53	8.61	-7.08	-3.58	17.25
Interest Expense	-0.21	-0.24	-0.27	-0.2	-0.2
Interest & Investment Income	3.51	3.9	3.01	0.97	0.39
Currency Exchange Gain (Loss)	-	2.73	-0.64	10.95	3.61
Other Non Operating Income (Expenses)	-1.64	7.23	1.26	0.46	2.94
EBT Excluding Unusual Items	46.19	22.22	-3.72	8.6	24
Gain (Loss) on Sale of Assets	-	0.11	-0.03	-0.03	-0.08
Other Unusual Items	-	0.01	0.03	0.32	-0.02
Pretax Income	46.19	22.35	-3.73	8.9	23.9
Income Tax Expense	16.86	9.73	2.33	3.73	4.49
Net Income	29.33	12.62	-6.06	5.17	19.41
Net Income to Common	29.33	12.62	-6.06	5.17	19.41
Net Income Growth	132.40%	-	-	-73.38%	-49.71%
Shares Outstanding (Basic)	43	42	42	42	42
Shares Outstanding (Diluted)	43	42	42	42	43
Shares Change (YoY)	0.05%	0.09%	-0.03%	-0.13%	-0.08%
EPS (Basic)	0.69	0.30	-0.14	0.12	0.46
EPS (Diluted)	0.69	0.30	-0.14	0.12	0.46
EPS Growth	132.08%	-	-	-73.76%	-49.71%
Free Cash Flow	37.33	-9.77	5.37	21	38.5
Free Cash Flow Per Share	0.88	-0.23	0.13	0.49	0.91
Dividend Per Share	-	0.500	-	-	0.350
Dividend Growth	-	-	-	-	-30.00%
Gross Margin	41.24%	41.05%	38.84%	37.91%	39.72%
Operating Margin	6.60%	1.45%	-1.28%	-0.61%	2.79%
Profit Margin	4.34%	2.13%	-1.09%	0.88%	3.13%
Free Cash Flow Margin	5.53%	-1.65%	0.97%	3.58%	6.22%
EBITDA	58.16	19.31	2.84	6.72	26.41
EBITDA Margin	8.62%	3.26%	0.51%	1.14%	4.26%
D&A For EBITDA	13.62	10.7	9.92	10.3	9.16
EBIT	44.53	8.61	-7.08	-3.58	17.25
EBIT Margin	6.60%	1.45%	-1.28%	-0.61%	2.79%
Effective Tax Rate	36.51%	43.53%	-	41.92%	18.79%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.