Shihlin Paper 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	153.98	155.77	171.11	165.06	326.02	159.47
Revenue Growth (YoY)	-2.65%	-8.96%	3.66%	-49.37%	104.44%	-5.89%
Cost of Revenue	55.99	62.28	86.15	88.91	149.52	105.97
Gross Profit	97.99	93.49	84.95	76.15	176.5	53.51
Selling, General & Admin	123.88	138.75	145.27	174.84	196.99	196.89
Research & Development	2.17	3.03	4.34	4.53	6.07	9.03
Operating Expenses	126.05	141.78	149.61	179.37	203.06	205.92
Operating Income	-28.06	-48.29	-64.66	-103.22	-26.56	-152.41
Interest Expense	-51.64	-46.14	-41.09	-27.82	-22.74	-25.59
Interest & Investment Income	140.49	65.23	192.24	347.53	37.17	25.31
Currency Exchange Gain (Loss)	-4.09	6.27	-1.63	0.77	-0.07	-0.19
Other Non Operating Income (Expenses)	60.54	1.65	1.39	4.41	100.53	17.14
EBT Excluding Unusual Items	117.24	-21.28	86.26	221.66	88.33	-135.74
Gain (Loss) on Sale of Investments	0.83	0.22	0.26	0.01	0.02	0.06
Gain (Loss) on Sale of Assets	0.21	0.05	-0.16	-9.89	0.27	-
Pretax Income	118.29	-21.01	86.35	211.78	88.62	-135.69
Income Tax Expense	-	-	-	-	4.37	-
Net Income	118.29	-21.01	86.35	211.78	84.25	-135.69
Net Income to Common	118.29	-21.01	86.35	211.78	84.25	-135.69
Net Income Growth	-	-	-59.23%	151.37%	-	-
Shares Outstanding (Basic)	260	260	260	260	260	260
Shares Outstanding (Diluted)	260	260	260	260	260	260
EPS (Basic)	0.45	-0.08	0.33	0.81	0.32	-0.52
EPS (Diluted)	0.45	-0.08	0.33	0.81	0.32	-0.52
EPS Growth	-	-	-59.23%	151.37%	-	-
Free Cash Flow	-269.05	-327.93	-124.57	113.82	172.02	-101.52
Free Cash Flow Per Share	-1.03	-1.26	-0.48	0.44	0.66	-0.39
Gross Margin	63.64%	60.02%	49.65%	46.13%	54.14%	33.55%
Operating Margin	-18.22%	-31.00%	-37.79%	-62.54%	-8.15%	-95.57%
Profit Margin	76.82%	-13.49%	50.47%	128.31%	25.84%	-85.08%
Free Cash Flow Margin	-174.73%	-210.52%	-72.81%	68.96%	52.76%	-63.66%
EBITDA	-19.01	-38.85	-51.6	-89.83	-12.34	-133.78
EBITDA Margin	-12.35%	-24.94%	-30.16%	-54.42%	-3.79%	-83.89%
D&A For EBITDA	9.05	9.44	13.05	13.4	14.22	18.64
EBIT	-28.06	-48.29	-64.66	-103.22	-26.56	-152.41
EBIT Margin	-18.22%	-31.00%	-37.79%	-62.54%	-8.15%	-95.57%
Effective Tax Rate	-	-	-	-	4.93%	-

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