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NPC Investor Presentation 2025
51763_rns_2025-11-18_994f36ef-08e8-4e5d-9ee7-56f949c7d42a.pdf
Investor Presentation
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Nan Ya Plastics
3Q25
Operations & Performance
Nov. 2025
Agenda
- Overview
- Financial Highlights
- 4Q25 Outlook
- Capacity Expansion Plan
- Q & A
Overview Highlights
Market Capitalization
NT$ 329.1 billion (Oct. 2025)
Sales Revenue
- NT$ 259.6 billion (Y2024, not include Nanya Tech. Co.)
- Sales breakdown
- 15% in plastics
- 23% in chemicals
- 42% in electronics
- 19% in polyesters
Market Capitalization
Revenue
Workforce
Market Capitalization
Total number of Plants 101
- 59 in Taiwan
- 34 in China
- 8 in US
Number of Employees 29,108
(The number of Plants and Employees includes the consolidated financial reporting company)
Overview
Leading market positions for capacity
- Plastics processing
- Copper foil
- Copper clad laminate
-
Electronic glass fiber yarn
-
- Epoxy resin
-
Glass fabrics
-
- PA
- BPA
- EG
Note: Capacity data as of FY2024.
Overview
Industry Development History
Plastics
1958
Printed Circuit Board
1984
Semiconductor
1995
Polyester
1968
Electronic Materials
1985
1996
Petrochemicals
Overview
Major Businesses
Sales breakdown in 2024
Plastics 15%
PVC Sheeting, PVC Rigid Film, PU Leather, PVC Rigid Pipe & Fittings, Window & Door Frames, Films, Engineering and PVC Compounds, PP Synthetic Paper
China & Others 23%
USA 13%
Taiwan 64%
Chemicals 23%
EG, BPA, 1,4BG, Plasticizer, PA, 2EH, INA, MA
China 16%
USA 19%
Taiwan 65%
Electronics 42%
Glass Yarn, Glass Fabrics, Epoxy Resin, Copper Foil, Copper Clad Laminate, Printed Circuit Board
China 59%
Taiwan 41%
Polyesters 19%
Polyester Staple Fiber, PET Resin, Filament, PET Film
China & Others 6%
USA 55%
Taiwan 39%
Financial Highlights
Consolidated Revenue by Quarter (IFRS)
(NT$ billion)
Revenue in 3Q25 decreased YOY due to:
Benefiting from AI development, computing power demand increased, driving strong growth in IC substrates, CCL, copper foil, glass fabrics, and epoxy resin products. However, orders and revenue at the South Carolina plant declined due to low-priced Asian pellet dumping into the U.S. and the U.S. tariff exemption on polyester pellets, leading to lower consolidated revenue compared with the same period last year.
Revenue in 3Q25 decreased QoQ due to:
High-end electronic materials such as IC substrates benefited from expanding AI demand, driving revenue growth. However, consumer electronic materials were affected by reciprocal tariffs and customers' early inventory buildup in 2Q25, resulting in a 3Q25 revenue pullback. In addition, polyester products faced low-priced competition from Asia that spilled over to the Americas, leading to lower overall revenue quarter over quarter.
Financial Highlights
Operating Profit by Quarter (IFRS)
(NT$ billion)
-
Operating profit in 3Q25 increased YOY due to:
Driven by the continued increase in AI computing demand, cloud service providers actively expanded related investments, fueling profit growth for IC substrates (ABF and BT), CCL, and epoxy resin products. -
Operating profit in 3Q25 decreased QoQ due to:
High-end electronic materials achieved profit growth driven by AI development. However, profits from basic electronic materials declined as customers built up inventories in the previous quarter. In addition, oversupply and price competition in chemical and polyester products led to lower overall profit compared with 2Q25.
Financial Highlights
Pre-tax Income by Quarter (IFRS)
3Q25 pre-tax income increased YoY due to :
- Operating profit increased NT$0.05bn YoY.
- Equity income increased NT$2.89bn YoY :
(1) FPCC +NT$2.70bn
(2) Nanya Tech +NT$0.89bn
(3) Mailiao Power Corp. –NT$0.70bn - Favorable foreign exchange gain/loss NT$0.69bn YoY.
3Q25 pre-tax income increased QoQ due to :
- Operating profit decreased NT$0.26bn QoQ.
- Equity income increased NT$5.18bn QoQ :
(1) FPCC +NT$3.72bn
(2) Nanya Tech +NT$1.66bn - Favorable foreign exchange gain/loss NT$2.91bn QoQ.
Financial Highlights
EPS (IFRS)
(NT$ dollar)
-
EPS in 3Q25 increased YoY due to :
With the rapid development of AI, strong demand for high-end servers and networking equipment drove revenue and profit growth in IC substrates, CCL, and epoxy resin products. In addition, equity investees Nanya Technology Corp. and Formosa Petrochemical Corp. both returned to profitability during the quarter, contributing to higher EPS compared with the same period last year. -
EPS in 3Q25 increased QoQ due to :
Profit from high-end electronic materials such as IC substrates increased. In addition to investment income from equity investees Nanya Technology Corp. and Formosa Petrochemical Corp., the stabilization of foreign exchange rates significantly reduced foreign exchange losses. As a result, net income after tax attributable to the parent company reached NT$3.26 billion, with quarterly EPS of NT$0.41 — the highest level in the past eight quarters.
Financial Highlights
Revenue Breakdown (Quarter)
3Q24 Net Sales
NT$ 66.4 billion
2Q25 Net Sales
NT$ 65.7 billion
3Q25 Net Sales
NT$ 64.2 billion
- Electronic Materials Products: Cloud service providers are continuously increasing their investments and upgrade demand for AI servers, data centers, and high-speed networking equipment. As a result, both product prices and shipment volumes have risen, the sales mix has continued to improve, and the revenue contribution has grown.
- Chemical Products: Mainly driven by a significant increase in capacity utilization at the EG plants in Mai-Liao and Texas compared with the same period last year, leading to a higher revenue contribution.
- Polyester Products: In 3Q24, concerns over potential East Coast port strikes led downstream customers to replace imports with domestic sourcing, driving strong orders at the South Carolina plant. With no such situation this year and low-priced polyester pellets from Asia flooding the U.S. market, revenue contribution has consequently declined.
Financial Highlights
Operating Profits Breakdown by Product Segment
Operating Profits
| Products | 3Q24 | 4Q24 | 1Q25 | 2Q25 | 3Q25 |
|---|---|---|---|---|---|
| Electronic Materials | 69.2% | -121.7% | 1,346.0% | 91.8% | 108.5% |
| Chemical | -114.4% | -235.6% | -4,123.0% | -63.5% | -103.8% |
| Polyester | 17.9% | -164.9% | -413.8% | 7.9% | -35.0% |
| Plastics | 93.3% | 235.6% | 1,944.6% | 56.3% | 73.0% |
Operating Margins
| Products | 3Q24 | 4Q24 | 1Q25 | 2Q25 | 3Q25 |
|---|---|---|---|---|---|
| Electronic Materials | 2.4% | -1.2% | 1.7% | 4.0% | 3.8% |
| Chemical | -8.2% | -3.4% | -9.5% | -5.6% | -7.3% |
| Polyester | 1.4% | -3.6% | -1.3% | 1.0% | -3.9% |
| Plastics | 9.4% | 6.5% | 7.7% | 7.9% | 8.4% |
4Q25 Outlook
Electronic Materials Products
Strong demand for AI servers, data centers, and high-speed networking accelerated equipment upgrades, driving steady growth in high-frequency and high-speed material demand. Sales of high-value epoxy resin products used in electronic and composite applications also increased, further optimizing the overall product mix.
Chemical Products
EG plants in Taiwan and Texas reduced production due to ethylene feedstock constraints. In addition, BPA production lines in both Taiwan and China underwent sequential maintenance shutdowns, resulting in lower overall chemical product output and sales volume.
Polyester Products
4Q25 is traditionally the peak season for polyester; however, the overall industry outlook remains cautious, with most Taiwan customers placing short-term orders. In the U.S., fewer working days due to Thanksgiving and Christmas holidays, along with seasonally weaker bottle-grade resin demand in winter, led to a slight decline in overall shipment volume.
Plastics Processing Products
Due to strong year-end holiday demand in Europe and the U.S., orders for packaging materials and other consumer goods have increased. Meanwhile, as decoration and construction projects enter the traditional year-end rush period, the shipment volumes of hard pipes and building materials have also risen.
Business Overview
Capacity Expansion Plan
| Area | Product | Unit | Annual Capacity | Estimated Commissioning Date | ||
|---|---|---|---|---|---|---|
| Current (Note1) | Expansion | Increase% | ||||
| Taiwan | Upgrade of polymer lines for co-polyester resin production | KMT | 0 | 36 | 100 | 2026/4 |
| Polyester Release Film (5thset) | KM² | 360,000 | 144,000 | 40 | 2025/12 | |
| Polyester Release Film (6thset) | KM² | 360,000 | 144,000 | 40 | 2025/12 | |
| Fluoropolymer tubing and fittings | Ton | 0 | Tubing 240/Fitting 60 | 100 | 2028/1 | |
| Electronic-grade Liquid CO₂ | Ton | 0 | 36,000 | 100 | 2027/3 | |
| Solar Photovoltaic System (Note2) | KW | (Note2) | 56,266 | 100 | 2026/6 | |
| Mainland China | Copper Foil | KM | 60,000 | 23,400 | 39 | 2027/1 |
| USA | Flexible PVC Sheeting | KMT | 48 | 14 | 29 | 2025/11 |
Note1: Annual capacity is the total product production capacity by region.
Note2: As of Oct. 2025, the capacity of Solar Photovoltaic System was 15,060KW, and the rest will be completed by the end of Jun. 2026 successively.
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