Mao Bao Income Statement

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

Millions TWD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	653.97	593.17	554.26	587.1	619.35	620.71
Revenue Growth (YoY)	12.33%	7.02%	-5.59%	-5.21%	-0.22%	4.13%
Cost of Revenue	387.58	349.68	339	364.56	373.33	341.47
Gross Profit	266.39	243.49	215.26	222.54	246.03	279.25
Selling, General & Admin	231.54	230.17	217.33	220.17	224.41	225.62
Research & Development	4.19	4.66	5.03	6.11	4.29	6.93
Operating Expenses	235.59	234.89	222.34	226.12	228.78	232.53
Operating Income	30.8	8.61	-7.08	-3.58	17.25	46.72
Interest Expense	-0.22	-0.24	-0.27	-0.2	-0.2	-0.01
Interest & Investment Income	3.77	3.9	3.01	0.97	0.39	0.46
Currency Exchange Gain (Loss)	-13.59	2.73	-0.64	10.95	3.61	-3.5
Other Non Operating Income (Expenses)	4.08	7.23	1.26	0.46	2.94	2.02
EBT Excluding Unusual Items	24.85	22.22	-3.72	8.6	24	45.69
Gain (Loss) on Sale of Assets	-0.58	0.11	-0.03	-0.03	-0.08	-0.23
Other Unusual Items	0.02	0.01	0.03	0.32	-0.02	0.02
Pretax Income	24.29	22.35	-3.73	8.9	23.9	45.49
Income Tax Expense	8.89	9.73	2.33	3.73	4.49	6.9
Net Income	15.4	12.62	-6.06	5.17	19.41	38.6
Net Income to Common	15.4	12.62	-6.06	5.17	19.41	38.6
Net Income Growth	90.84%	-	-	-73.38%	-49.71%	55.26%
Shares Outstanding (Basic)	42	42	42	42	42	42
Shares Outstanding (Diluted)	42	42	42	42	43	43
Shares Change (YoY)	0.04%	0.09%	-0.03%	-0.13%	-0.08%	0.24%
EPS (Basic)	0.36	0.30	-0.14	0.12	0.46	0.91
EPS (Diluted)	0.36	0.30	-0.14	0.12	0.46	0.91
EPS Growth	89.36%	-	-	-73.76%	-49.71%	55.26%
Free Cash Flow	24.83	-9.77	5.37	21	38.5	41.16
Free Cash Flow Per Share	0.58	-0.23	0.13	0.49	0.91	0.97
Dividend Per Share	0.500	0.500	-	-	0.350	0.500
Dividend Growth	-	-	-	-	-30.00%	-
Gross Margin	40.73%	41.05%	38.84%	37.91%	39.72%	44.99%
Operating Margin	4.71%	1.45%	-1.28%	-0.61%	2.79%	7.53%
Profit Margin	2.35%	2.13%	-1.09%	0.88%	3.13%	6.22%
Free Cash Flow Margin	3.80%	-1.65%	0.97%	3.58%	6.22%	6.63%
EBITDA	41.88	19.31	2.84	6.72	26.41	53.78
EBITDA Margin	6.40%	3.26%	0.51%	1.14%	4.26%	8.67%
D&A For EBITDA	11.07	10.7	9.92	10.3	9.16	7.06
EBIT	30.8	8.61	-7.08	-3.58	17.25	46.72
EBIT Margin	4.71%	1.45%	-1.28%	-0.61%	2.79%	7.53%
Effective Tax Rate	36.59%	43.53%	-	41.92%	18.79%	15.16%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.