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NPC Investor Presentation 2026
51763_rns_2026-03-12_ee1d2837-cf83-4c3a-8796-468b2e40c359.pdf
Investor Presentation
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Nan Ya Plastics
Year 2025
Operations & Performance
Mar. 2026
Agenda
- Overview
- Financial Highlights
- 1Q26 Outlook
- Capacity Expansion Plan
- Q & A
Overview Highlights
Market Capitalization
NT$ 728.0 billion (Feb. 2026)
Sales Revenue
- NT$ 259.9 billion (Y2025, not include Nanya Tech. Co.)
- Sales breakdown
- 14% in plastics
- 22% in chemicals
- 46% in electronics
- 16% in polyesters
Market Capitalization
Revenue
Workforce
Market Capitalization
Total number of Plants 99
- 57 in Taiwan
- 34 in China
- 8 in US
Number of Employees 28,616
(The number of Plants and Employees includes the consolidated financial reporting company)
Overview
Leading market positions for capacity
- Plastics processing
- Electronic glass fiber yarn
- Copper clad laminate
- Glass fabrics
- EG
- Epoxy resin
- BPA
Note: Capacity data as of FY2025.
Overview
Industry Development History
Plastics
1958
Printed Circuit Board
1984
Semiconductor
1995
Polyester
1968
Electronic Material
1985
Petrochemicals
1996
Overview
Major Businesses
Sales breakdown in 2025
Plastics
14%
PVC Sheeting, PVC Rigid Film, PU Leather, PVC Rigid Pipe & Fittings, Window & Door Frames, Films, Engineering and PVC Compounds, PP Synthetic Paper
| China | 24% |
|---|---|
| USA | 15% |
| Taiwan | 61% |
Chemicals
22%
EG, BPA, 1,4BG, Plasticizer, PA, 2EH, INA, MA
| China | 15% |
|---|---|
| USA | 27% |
| Taiwan | 58% |
Electronics
46%
Glass Yarn, Glass Fabrics, Epoxy Resin, Copper Foil, Copper Clad Laminate, Printed Circuit Board
| China | 57% |
|---|---|
| Taiwan | 43% |
Polyesters
16%
Polyester Staple Fiber, PET Resin, Filament, PET Film
| China | 5% |
|---|---|
| USA | 56% |
| Taiwan | 39% |
Financial Highlights
Consolidated Revenue (IFRS)
(NT$ billion)
Revenue in 2025 increased YOY due to:
Strong demand for AI servers and high-end networking equipment drove significant revenue growth across electronic material products including IC substrates, CCL, copper foil, and glass fabrics, further bolstered by rising copper prices. However, this was partially offset by a decline in polyester and chemical products due to falling raw material costs, reciprocal tariffs, and intense oversupply competition, resulting in a slight overall increase in revenue.
Revenue in 4Q25 increased QoQ due to:
Revenue from chemical products decreased in production and sales due to scheduled maintenance; however, overall revenue recorded a slight increase driven by robust AI demand and rising copper prices in electronic material products, combined with a year-end rush for polyester and plastic products in electronic applications.
Financial Highlights
Operating Profit (IFRS)
(NT$ billion)
Operating profit in 2025 increased YOY due to:
Primarily driven by the booming expansion of AI, sustained investments in servers and networking switches have caused demand to significantly outpace supply. This ongoing shortage of mid-to-high-end electronic material products have bolstered product pricing and spreads, leading to significant profit growth across IC substrates, CCL, copper foil, glass fabrics, and epoxy resins.
Operating profit in 4Q25 increased QoQ due to:
Electronic material products experienced robust performance as rapid growth in AI computing power and high-speed transmission prompted the industry to significantly expand capital expenditure; meanwhile, as polyester products expanded into 3C peripheral applications and plastic processing products capitalized on the pre-Lunar New Year demand surge, overall profits increased slightly.
Financial Highlights
Pre-tax Income (IFRS)
2025 pre-tax income increased YoY due to :
- Operating profit increased NT$3.25 bn YoY.
- Equity income increased NT$2.18 bn YoY :
(1) FPCC +NT$0.90 bn
(2) Nanya Tech +NT$3.43 bn
(3) Mailiao Power -NT$2.43 bn - Unfavorable foreign exchange gain/loss NT$2.38 bn YoY.
4Q25 pre-tax income increased QoQ due to :
- Operating profit increased NT$0.29 bn QoQ.
- Equity income increased NT$1.71 bn QoQ :
(1) FPCC -NT$0.80 bn
(2) Nanya Tech +NT$2.79 bn - Favorable foreign exchange gain/loss NT$0.18 bn QoQ.
Financial Highlights EPS (IFRS)
(NT$ dollar)
EPS in 2025 increased YoY due to :
Despite tariff barriers and foreign exchange losses, the AI surge continues to drive rapid hardware expansion—spanning HPC, cloud data centers, storage, and power components. This momentum significantly boosted profits for electronic material products, PCBs, and Nanya Tech, resulting in a 2025 EPS of NT$0.57, up 35% YoY.
EPS in 4Q25 increased QoQ due to :
As evolving AI technology deeply integrates with cloud services, the industry's output value is expanding rapidly. Sustained hardware and software investments by major players have driven operating profits higher for electronic material products, substrates, and Nanya Tech, with 4Q25 EPS reaching NT$0.62—a 51% QoQ increase and a 14-quarter high.
Financial Highlights
Revenue Breakdown
2024 Net Sales
NT$ 259.6 billion
2025 Net Sales
NT$ 259.9 billion
2025 Sales Breakdown by Geography
- Electronic Material Products: Expanding investments in AI and high-end networking have caused demand for mid-to-high-end products to outpace supply; this, combined with rising copper prices, has bolstered costs and pushed up selling prices, increasing its revenue contribution.
- Chemical and Polyester Products: Falling raw material prices and oversupply in certain polyester and chemical products have weakened cost support and intensified price competition, leading to unfavorable price and volume variances and a decline in revenue its contribution.
- Regarding market distribution, mainland China accounted for 52% of overseas sales in 2025, remaining the company's primary market.
Financial Highlights
Operating Profits Breakdown by Product Segment
Operating Profits
| Products | 4Q24 | 1Q25 | 2Q25 | 3Q25 | 4Q25 |
|---|---|---|---|---|---|
| Electronic Material | -121.7% | 1,346.0% | 91.8% | 108.5% | 187.0% |
| Chemical | -235.6% | -4,123.0% | -63.5% | -103.8% | -152.2% |
| Polyester | -164.9% | -413.8% | 7.9% | -35.0% | -23.2% |
| Plastics | 235.6% | 1,944.6% | 56.3% | 73.0% | 60.1% |
Operating Margins
| Products | 4Q24 | 1Q25 | 2Q25 | 3Q25 | 4Q25 |
|---|---|---|---|---|---|
| Electronic Material | -1.2% | 1.7% | 4.0% | 3.8% | 7.6% |
| Chemical | -3.4% | -9.5% | -5.6% | -7.3% | -17.5% |
| Polyester | -3.6% | -1.3% | 1.0% | -3.9% | -3.1% |
| Plastics | 6.5% | 7.7% | 7.9% | 8.4% | 8.9% |
1Q26 Outlook
■ Electronic Material Products
Robust demand for AI servers, HPC, and high-speed networking boosted mid-to-high-end material needs; tight glass fabric supplies and elevated copper prices further drove a dual increase in price and volume.
■ Chemical Products
Performance remained sluggish due to weak global demand and industry-wide oversupply; overall production and sales were further impacted by the EG1 shutdown at the Texas plant and selective order fulfillment in Taiwan.
■ Polyester Products
Volume in Taiwan and China declined in 1Q26 due to the Lunar New Year holiday, while US operations saw a resumption of deliveries as downstream clients returned to work following the Christmas break.
■ Plastics Processing Products
While orders for pipes and building materials surged during the pre-holiday construction rush, overall shipments in 1Q26 declined relative to the previous period as downstream operations paused for the Spring Festival.
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 | 2026/6 | |
| Polyester Release Film (6thset) | KM² | 360,000 | 144,000 | 40 | 2026/6 | |
| 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 | Ton | 60,000 | 23,400 | 39 | 2027/1 |
| Epoxy Resin | Ton | 258,000 | 7,200 | 3 | 2027/3 | |
| USA | Flexible PVC Sheeting | KMT | 48 | 14 | 29 | 2026/3 |
Note1: Annual capacity is the total product production capacity by region.
Note2: As of Feb. 2026, the capacity of Solar Photovoltaic System was 15,177KW, and the rest will be completed by the end of Jun. 2026 successively.
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