SUNON — Interim / Quarterly Report 2025

Aug 7, 2025

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FIRST CHOICE GLOBALLY Cooling Solutions

2025 Q2 Operating Results SUNONwealth Electric Machine Industry Co., Ltd.

2421.TW / 2421 TT

Disclaimer

The information or opinions contained in this document are based on expectations of current conditions and prediction on future events made by SUNONWEALTH ELECTRIC MACHINE INDUSTRY CO., LTD. (hereinafter referred to as “the Company”), which no representation or warranty, express or implied, is made as to its fairness, accuracy, completeness or timeliness. The information in this document only reflects the Company's view of the future as of the date hereof and is subject to change or adjustment in the future. And the Company assumes no obligation to notify or update it at any time unless otherwise required by the applicable laws. Neither the Company nor any of its subsidiaries, affiliates or representatives shall be liable for any direct or indirect damages arising out of the contents of this document, or any action taken as a result of reference to such contents.

The information contained in this document may express the Company's confidence in and expectations for its future vision, but these forward-looking statements are based on a number of factors relating to the Company's operations and are subject to unknown risks, uncertainties and other factors, and as a result, the actual results may differ materially from those in the forward-looking statements set forth above.

No part of this document may be copied, redistributed or transmitted, directly or indirectly, to any other person (whether inside or outside the Company) or published (in part or in whole) for any purpose.

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SUNONwealth Electric Machine Industry Co., Ltd. (2421.TW / 2421 TT)

FIRST CHOICE GLOBALLY Cooling Solutions

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Quarterly Revenue
In B. NT
5.00
4.66
4.16
4.00
4.03
3.86
3.79
3.68 3.66 3.72
3.48 3.48
3.00 3.33 3.28 3.29 3.27
3.03 3.12 3.08 3.06
2.00
1.00
0.00
Q1 Q2 Q3 Q4
Y2021 Y2022 Y2023 Y2024 Y2025
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SUNONwealth Electric Machine Industry Co., Ltd. (2421.TW / 2421 TT)

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Revenue Performance

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UNIT: NTD (K)
16,000,000 40%
14,623,817
14,063,308 35%
14,000,000 13,561,804 31.0%
12,781,281 12,914,686 30%
11,965,298
12,000,000 11,659,915 25%
10,946,728
10,690,822
20%
10,000,000
13.2% 8,825,430 15%
8,000,000 9.3% 9.6%
10%
5.8% 6.1%
3.7%
6,000,000 2.4% 5%
-2.6% 0%
4,000,000
-5%
-9.2%
2,000,000 -10%
Y2016 Y2017 Y2018 Y2019 Y2020 Y2021 Y2022 Y2023 Y2024 Y2025
Revenue Growth rate
SUNONwealth Electric Machine Industry Co., Ltd. (2421.TW / 2421 TT) Page 4
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UNIT: NTD (M) Quarterly Revenue in Server
2,500 48.0% 50%
46.4%
44.6% 45.0% 44.5%
45%
2,000 37.2% 38.0% 2,115 40%
33.9% 1,960
35%
30.4% 1,751
1,500 1,615 1,670 30%
25%
21.3%
1,000 1,159 1,114 20%
1,075
958
15%
500 615 10%
5%
0 0%
23Q1 23Q2 23Q3 23Q4 24Q1 24Q2 24Q3 24Q4 25Q1 25Q2
Revenue % of Sales
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SUNONwealth Electric Machine Industry Co., Ltd. (2421.TW / 2421 TT)

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UNIT: NTD (M) Quarterly Revenue in AI Server
1,200 30%
26.9% 24.2%
1,098 1,105
1,000 23.6% 23.2% 25%
918
800 19.0% 870 20%
16.2%
600 13.8% 14.1% 688 15%
11.0%
400 473 10%
438 437
345
200 3.2% 5%
92
0 0%
23Q1 23Q2 23Q3 23Q4 24Q1 24Q2 24Q3 24Q4 25Q1 25Q2
Revenue % of Sales
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SUNONwealth Electric Machine Industry Co., Ltd. (2421.TW / 2421 TT)

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Products Application & QoQ Growth
58.1%
60%
2021
50% 2022 53.1%
2023
40% 41.9%
2024
30% 2025Q2 31.7% 34.7%
28.3%
20% 24.5% 22.2% 16.2%
7.9% 14.3% 14.6% 9.1% 17.5%
10% 11.0% 12.6% 5.2% 11.3%
8.0% 9.5% 9.0% 8.3% 7.4% 7.7% 3.0% 8.9%
5.2% 5.3% 5.8% 3.5%
0%
Automobile Distribution Home Appliances Industrial Medical E. Telecom & Server IT & OE
-9.5% 42.3% 5.2% 7.9% 10.6% 26.5%
SUNONwealth Electric Machine Industry Co., Ltd. (2421.TW / 2421 TT) Page 7 FIRST CHOICE GLOBALLY Cooling Solutions
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Products Application & YoY Growth
58.1%
60%
2021
50% 2022 53.1%
2023
40% 41.9%
2024
30% 2025Q2 31.7% 34.7%
28.3%
20% 24.5% 22.2% 16.2%
7.9% 14.3% 14.6% 9.1% 17.5%
10% 11.0% 12.6% 5.2% 11.3%
8.0% 9.5% 9.0% 8.3% 7.4% 7.7% 3.0% 8.9%
5.2% 5.3% 5.8% 3.5%
0%
Automobile Distribution Home Appliances Industrial Medical E. Telecom & Server IT & OE
-13.5% 19.0% 6.6% 46.1% 36.3% 18.5%
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SUNONwealth Electric Machine Industry Co., Ltd. (2421.TW / 2421 TT)

Products Application & YoY Growth

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58.4%
60%
2021
50% 2022 53.1%
2023
40% 41.9%
2024
30% 2025H1 31.7% 34.7%
28.3%
20% 24.5% 22.2% 15.3%
8.7% 14.3% 14.6% 9.3% 17.5%
10% 12.6%
8.0% 9.5% 11.0% 9.0% 8.3% 4.7% 7.4% 7.7% 3.1% 11.3% 8.9%
5.2% 5.3% 5.8% 3.5%
0%
Automobile Distribution Home Appliances Industrial Medical E. Telecom & Server IT & OE
-1.5% 23.0% 5.0% 45.0% 49.3% 8.2%
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SUNONwealth Electric Machine Industry Co., Ltd. (2421.TW / 2421 TT)

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Profit Margin
Gross Margin 32% 29.3% 30.5% 29.9%
30.3%
28.1%28.3% 29.0%28.5% 27.9% 27.9%28.4%
26.5%26.1%
22%
24.5%
22.6% 24.0% 22.6%
17.5%18.6% 18.9% 18.7% 19.5% 18.7%
12%
Q1 Q2 Q3 Q4 Y
Y2021 Y2022 Y2023 Y2024 Y2025
Operating Margin 16% 15.3% 13.9%
12.4%
12% 11.3% 12.4%11.5% 12.3%13.0% 11.4%11.9% 11.9%11.5%
8% 9.0% 8.5% 9.0% 9.7% 8.0%
4% 5.9%
4.1%
2.0% 1.9% 3.4% 3.4%
0%
Q1 Q2 Q3 Q4 Y
Net Margin 11.3%
12%
13.2% 9.6%
9% 10.7% 10.4% 8.0% 11.7% 11.3% 10.3%10.2%
9.0% 8.6% 8.8%
6% 9.7% 7.4% 7.3% 7.7%
4.9%
3% 3.1% 4.6% 3.2%
2.2% 2.5%
0%
Q1 Q2 Q3 Q4 Y
SUNONwealth Electric Machine Industry Co., Ltd. (2421.TW / 2421 TT) Page 10
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Quarterly Earning
In NTD
2.00
1.80 1.73
1.72
1.60
1.60
1.37
1.40 1.49
1.42
1.39
1.20 1.28
1.19 1.20
1.00 1.11 1.11
0.80
0.84
0.60 0.69
0.61
0.40
0.37 0.35
0.20 0.30
0.00
Q1 Q2 Q3 Q4
Y2021 Y2022 Y2023 Y2024 Y2025
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SUNONwealth Electric Machine Industry Co., Ltd. (2421.TW / 2421 TT)

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Earning & Cash Dividend

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UNIT: NTD
6
5.46
5.16
5
4.34
4 3.7
3.39 3.5
3 2.62 2.71 2.6
2.28 2.41 2.3 2.4
2 2 2
2 1.77 1.71
1.5
1.2
1
0
EPS Cash Dividend
Y2015 Y2016 Y2017 Y2018 Y2019 Y2020 Y2021 Y2022 Y2023 Y2024
Y2015 Y2016 Y2017 Y2018 Y2019 Y2020 Y2021 Y2022 Y2023 Y2024
Payout Ratio 85% 88% 88% 83% 74% 68% 70% 60% 68% 68%
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SUNONwealth Electric Machine Industry Co., Ltd. (2421.TW / 2421 TT)

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Appendix I

CONSOLIDATED BALANCE SHEETS

NT$ M 2025.6.30 2024.12.31 2024.6.30	vs. 2024.12.31 vs. 2024.6.30 Change(%)
TOTAL ASSETS 15,648 14,998 14,706	4.3% 6.4%
Cash 5,253 4,678 4,926	12.3% 6.6%
A/R, N/R 4,562 4,103 3,757	11.2% 21.4%
Inventories 2,166 2,181 2,168	-0.7% -0.1%
PP&E 2,401 2,461 2,321	-2.4% 3.4%
TOTAL LIABILITIES 8,374 7,078 7,604	18.3% 10.1%
Short-term loans 1,137 928 769	22.5% 47.9%
A/P 3,758 3,435 3,166	9.4% 18.7%
Long-term loans 430 478 553	-10.0% -22.2%
TOTAL EQUITY 7,274 7,920 7,102	-8.2% 2.4%
Days sales outstanding 90 90 93
Days sales of inventory 64 74 77
Current Ratio 1.62 1.88 1.72

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SUNONwealth Electric Machine Industry Co., Ltd. (2421.TW / 2421 TT)

FIRST CHOICE GLOBALLY Cooling Solutions

Appendix II 2025 2024 YTD YTD 2025Q2 2025YTD OPERATING REVENUES 4,663 3,677 8,825 6,737 26.8% 31.0% GROSS PROFIT 1,424 1,039 2,641 1,839 37.1% 43.6% OPERATING EXPENSES 709 619 1,411 1,144 14.5% 23.3% INCOME FROM OPERATIONS 715 420 1,230 695 70.2% 77.0% NON-OPERATING INCOME AND EXPENSES -198 134 -133 274 -247.8% -148.5% INCOME BEFORE INCOME TAX 517 554 1,097 969 -6.7% 13.2% NET INCOME attribute to owners 374 379 846 706 -1.3% 19.8% EPS (NT$) 1.37 1.39 3.10 2.58 Gross Margin 30.5% 28.3% 29.9% 27.3% Operating Margin 15.3% 11.5% 13.9% 10.3% Net Margin() 8.0% 10.4% 9.6% 10.5% CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME NT$ M 2025 Q2 2024 Q2 YOY(%)*

(*)Net Margin=Net Income attribute to owners / Revenue

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SUNONwealth Electric Machine Industry Co., Ltd. (2421.TW / 2421 TT)

FIRST CHOICE GLOBALLY Cooling Solutions

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Thanks for Your Attention !

WWW.SUNON.COM

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