Shen's Art Printing 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	632.86	633	659.08	655.13	522.58
Revenue Growth (YoY)	-0.02%	-3.96%	0.60%	25.36%	-6.53%
Cost of Revenue	559.02	562.88	588.84	580.65	443.03
Gross Profit	73.84	70.12	70.24	74.48	79.54
Selling, General & Admin	108.24	96.9	91.93	97.64	78.49
Research & Development	2.28	1.39	1.74	1.73	1.75
Operating Expenses	111.24	98.29	93.46	99.41	79.49
Operating Income	-37.4	-28.17	-23.23	-24.93	0.06
Interest Expense	-4.45	-2.21	-2.42	-2.64	-0.05
Interest & Investment Income	1.66	17.16	13.89	15.16	14.7
Earnings From Equity Investments	0.95	0.74	0.94	0.81	1.28
Currency Exchange Gain (Loss)	-	0.6	2.24	9.34	-2.11
Other Non Operating Income (Expenses)	27.02	1.33	2.22	0.85	0.84
EBT Excluding Unusual Items	-12.22	-10.56	-6.36	-1.42	14.72
Gain (Loss) on Sale of Investments	-	0.05	-0.03	-0.04	-
Gain (Loss) on Sale of Assets	-	-0.23	0.19	0.13	-
Other Unusual Items	-	-	-	20.11	-
Pretax Income	-12.22	-10.73	-6.2	18.77	14.72
Income Tax Expense	0.89	0.05	0.8	3.21	0.08
Earnings From Continuing Operations	-13.11	-10.78	-7	15.56	14.64
Minority Interest in Earnings	7.82	-0.01	2.37	8.26	-
Net Income	-5.29	-10.78	-4.63	23.83	14.64
Net Income to Common	-5.29	-10.78	-4.63	23.83	14.64
Net Income Growth	-	-	-	62.76%	-24.85%
Shares Outstanding (Basic)	48	47	47	47	47
Shares Outstanding (Diluted)	48	47	47	47	47
Shares Change (YoY)	3.18%	-	-	-	-
EPS (Basic)	-0.11	-0.23	-0.10	0.51	0.31
EPS (Diluted)	-0.11	-0.23	-0.10	0.51	0.31
EPS Growth	-	-	-	62.76%	-24.85%
Free Cash Flow	-358.54	31.66	-19.14	16.19	31.02
Free Cash Flow Per Share	-7.46	0.68	-0.41	0.35	0.67
Dividend Per Share	-	0.220	0.333	0.504	0.453
Dividend Growth	-	-33.93%	-33.93%	11.26%	8.37%
Gross Margin	11.67%	11.08%	10.66%	11.37%	15.22%
Operating Margin	-5.91%	-4.45%	-3.52%	-3.81%	0.01%
Profit Margin	-0.84%	-1.70%	-0.70%	3.64%	2.80%
Free Cash Flow Margin	-56.65%	5.00%	-2.90%	2.47%	5.93%
EBITDA	2.87	4.57	10.4	16.35	25.59
EBITDA Margin	0.45%	0.72%	1.58%	2.50%	4.90%
D&A For EBITDA	40.27	32.74	33.63	41.28	25.53
EBIT	-37.4	-28.17	-23.23	-24.93	0.06
EBIT Margin	-5.91%	-4.45%	-3.52%	-3.81%	0.01%
Effective Tax Rate	-	-	-	17.10%	0.56%

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