Shihlin Paper 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	153.29	155.77	171.11	165.06	326.02
Revenue Growth (YoY)	-1.59%	-8.96%	3.66%	-49.37%	104.44%
Cost of Revenue	53.36	62.28	86.15	88.91	149.52
Gross Profit	99.94	93.49	84.95	76.15	176.5
Selling, General & Admin	119.65	138.75	145.27	174.84	196.99
Research & Development	2.23	3.03	4.34	4.53	6.07
Operating Expenses	121.88	141.78	149.61	179.37	203.06
Operating Income	-21.94	-48.29	-64.66	-103.22	-26.56
Interest Expense	-52.19	-46.14	-41.09	-27.82	-22.74
Interest & Investment Income	8.53	65.23	192.24	347.53	37.17
Currency Exchange Gain (Loss)	-	6.27	-1.63	0.77	-0.07
Other Non Operating Income (Expenses)	410.81	1.65	1.39	4.41	100.53
EBT Excluding Unusual Items	345.22	-21.28	86.26	221.66	88.33
Gain (Loss) on Sale of Investments	-	0.22	0.26	0.01	0.02
Gain (Loss) on Sale of Assets	-	0.05	-0.16	-9.89	0.27
Pretax Income	345.22	-21.01	86.35	211.78	88.62
Income Tax Expense	9.47	-	-	-	4.37
Net Income	335.74	-21.01	86.35	211.78	84.25
Net Income to Common	335.74	-21.01	86.35	211.78	84.25
Net Income Growth	-	-	-59.23%	151.37%	-
Shares Outstanding (Basic)	260	260	260	260	260
Shares Outstanding (Diluted)	260	260	260	260	260
Shares Change (YoY)	0.09%	-	-	-	-
EPS (Basic)	1.29	-0.08	0.33	0.81	0.32
EPS (Diluted)	1.29	-0.08	0.33	0.81	0.32
EPS Growth	-	-	-59.23%	151.37%	-
Free Cash Flow	-174.86	-327.93	-124.57	113.82	172.02
Free Cash Flow Per Share	-0.67	-1.26	-0.48	0.44	0.66
Gross Margin	65.19%	60.02%	49.65%	46.13%	54.14%
Operating Margin	-14.31%	-31.00%	-37.79%	-62.54%	-8.15%
Profit Margin	219.02%	-13.49%	50.47%	128.31%	25.84%
Free Cash Flow Margin	-114.07%	-210.52%	-72.81%	68.96%	52.76%
EBITDA	-11.64	-38.85	-51.6	-89.83	-12.34
EBITDA Margin	-7.59%	-24.94%	-30.16%	-54.42%	-3.79%
D&A For EBITDA	10.3	9.44	13.05	13.4	14.22
EBIT	-21.94	-48.29	-64.66	-103.22	-26.56
EBIT Margin	-14.31%	-31.00%	-37.79%	-62.54%	-8.15%
Effective Tax Rate	2.74%	-	-	-	4.93%

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