TPK REPORTS CONSOLIDATED FINANCIAL RESULTS FOR THE FIRST QUARTER OF 2025

Taipei, Taiwan, May 7 th, 2025 – TPK Holding Co., Ltd. (TWSE: 3673) (“TPK” or the “Company”) today announced unaudited consolidated operating results for the first quarter of 2025. Company reported revenues of NT$13,704 million and net profit of NT$162 million for the quarter, equivalent to EPS of NT$0.40.

1Q25 Operating Results

Company reported 1Q25 revenues of NT$13,704 million, down 13.5% quarter-on-quarter and down 10.6% year-on-year. The sequential decline was mainly attributable to seasonality and completion of inventory build-up prior to new product releases. Gross profit for the quarter amounted to NT$716 million, up 19.2% sequentially and up 10.3% year-on-year. Gross margin improved from 3.8% for 4Q24 to 5.2%. In terms of product mix, notebook PC and large-sized tablet was the largest revenue contributor and accounted for 59% of the quarterly sales, but down 3.1% quarter-on-quarter in revenues. Tablet revenues remained second and accounted for 32% of 1Q25 sales and down 31.2% sequentially in revenues.

With respect to COGS, raw materials were NT$11,190 million, representing 81.7% of revenues, lower from 82.9% for 4Q24 on the back of product mix change. Labor expense decreased slightly to NT$1,018 million, equivalent to 7.4% of revenues, flat to the previous quarter. Depreciation cost continued to trend lower to N$524 million, equivalent to 3.8% of 1Q25 revenues. TPK continue to tighten up human resources to enhance efficiency and reduce redundancy. Operating expenses reduced from NT$809 million for 4Q24 to NT$743 million. Company recorded operating loss of NT$26 million for the quarter.

For the first quarter, Company recorded net interest income of NT$224 million and foreign exchange gain of NT$138 million. Strategic investments contributed a loss of NT$73 million mainly due to market volatility. Other non-operating loss was NT$27 million. In 1Q25, net profit amounted to NT$162 million.

Balance Sheet & Cash Flow

As of March 31 2025, cash and cash equivalent 1 were NT$48,603 million, up from NT$47,190 million at the end of 2024. At the same time, total bank borrowings also increased from NT$26,192 million to NT$29,383 million. Capital expenditure for the quarter was NT$107 million on accrual basis. EBITDA remained healthy at NT$1,184 million for the quarter. TPK remained at net cash of NT$19,221 million as of March 31 2025.

Note: All financial numbers are prepared in accordance with IFRs, which is approved by regulators in Taiwan.
Note 1: Cash and cash equivalent includes “Cash Equivalents” and “Risk-Free Banking Financial Product.”

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