SUNRACE — Investor Presentation 2025

Dec 10, 2025

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日馳企業股份有限公司 114 年法人說明會 SunRace Sturmey-Archer 2025 Investor Conference

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Disclaimer

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 This presentation contains certain forward-looking statements that are based on current expectations and are subject to known and unknown risks and uncertain ties that could cause actual results to differentially from those unexpected or implied by such statements.

 Expect as required by law, we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or others.

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1

Basic Information

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• ： SUN RACE STURMEY-ARCHER INC .

• Company Name

：  Date of Incorporation May 26,1972

：  Paid-in Capital Six hundred million (NTD)

：  Number of Employees About 180 people

2

Derailleur Group

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Shifter

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Front
Derailleur
Freewheel
(Cassetter)
Hub
Rear
Derailleur
Front
Chain
Chainwheel
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3

Internal Gear Hub Group

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Shifter
Internal
Gear Hub
Dynamo
Hub
Front
Crankset
Chain
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4

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SUN RACE STURMEY-ARCHER INC. The proportion of business

Product Category 2025 Q1~Q3 2025 Q1~Q2 2024 Q1~Q3 Drivetrain Component 83.53% 83.76% 82.00% Brake Component 0.72% 0.65% 0.74% Spare Parts and Accessories 14.79% 14.66% 16.10% Others 0.96% 0.93% 1.16% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%	093%
	83.53% 83.76% 0.72% 0.65% 14.79% 14.66% 0.96% .	82.00% 0.74% 16.10% 1.16%
	2025 Q1~Q3 2025 Q1~Q2 2024 Q1~Q3 Drivetrain Component Brake Component Spare Parts and Accessories Others

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SUN RACE STURMEY-ARCHER INC.

Concise Consolidated Statement of Comprehensive Income

	(In NT$ thousand, except EPS)	(In NT$ thousand, except EPS)	(In NT$ thousand, except EPS)	(In NT$ thousand, except EPS)	(In NT$ thousand, except EPS)
Period Item	Most Recent 5-Year Financial Information
	113	112	111	110	109
Operating revenue	720,682	995,162	2,197,117	1,887,529	1,246,649
Grossprofit(loss)from operations	151,575	287,128	757,831	542,143	281,274
Net operatingincome(loss)	(68,269)	30,681	459,972	339,814	132,264
Non-operatingincome and expenses	(648)	31,512	34,163	(11,252)	89,032
Profit(loss)from continuingoperations before tax	(68,917)	62,193	494,135	328,562	221,296
Profit(loss)from continuingoperations	(54,704)	45,501	386,604	262,947	178,317
Loss from discontinuingoperations	－	－	－	－	－
Net Profit(loss)	(54,704)	45,501	386,604	262,947	178,317
Other comprehensive income, net	11,888	4,292	19,593	1,000	666
Total comprehensive income	(42,816)	49,793	406,197	263,947	178,983
Profit(loss), attributable to owners ofparent	(54,704)	45,501	386,604	262,947	178,317
Profit(loss), attributable to non-controllinginterests	－	－	－	－	－
Comprehensive income, attributable to owners ofparent	(42,816)	49,793	406,197	263,947	178,983
Comprehensive income, attributable to non-controllinginterests	－	－	－	－	－
Basic earnings(loss) per share(NT$)	(0.91)	0.76	6.44	4.38	2.97

6

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SUN RACE STURMEY-ARCHER INC. Concise Balance Sheet Summary

(In NT$ thousand)	3Q25	2Q25	3Q24
Cash and cash equivalents	402,839	318,585	287,645
Bills receivable and accounts receivable	47,855	67,191	43,682
Inventories	950,800	1,012,289	1,178,028
Other current assets	49,350	52,678	55,446
Real estate, plant and equipment	607,189	603,861	821,587
Other non-current assets	254,210	252,086	116,661
Total assets	2,312,243	2,306,690	2,503,049
Short-term loans	80,166	47,480	135,883
Current contract liabilities	39,416	68,961	89,579
Payable bills and accounts	89,165	94,122	74,744
Other current liabilities	541,646	49,082	85,920
Long term loan	201,338	227,986	241,055
Other non-current liabilities	8,985	490,774	492,478
Total equity	1,351,527	1,328,285	1,383,390

Note: Sums may not equal totals due to rounding.

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SUN RACE STURMEY-ARCHER INC. Concise Consolidated Income Statement (Unaudited)

(In NT$ thousand, except EPS) Net Sales Operating costs Gross profit Selling expenses Administration expenses R&D expenses Expected credit losses Operating expenses Operating income(loss) Net non-operating income Net income(loss) before income tax Income tax expense(benefit) Net income(loss) EPS attributable to the parent(NT$)

3Q25 2Q25 3Q24 Q-Q Y-Y 202,389 208,411 160,240 (2.89%) 26.30% (186,489) (167,824) (147,212) 15,900 40,587 13,028 (60.82%) 22.04% (16,790) (15,779) (18,556) (32,657) (30,491) (30,959) (3,983) (4,329) (5,405) 0 0 0 (53,430) (50,599) (54,920) (37,530) (10,012) (41,892) 274.85%(10.41%) 44,034 (28,135) 717 6,504 (38,147) (41,175) (1,867) 6,649 10,828 4,637 (31,498) (30,347) 114.72% 115.28% 0.08 (0.52) (0.51)

Note: Sums may not equal totals due to rounding.

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SUN RACE STURMEY-ARCHER INC.

Supplemental Information: Percentage of Revenue

	3Q25	2Q25	3Q24
Gross margin	7.86%	19.47%	8.13%
Selling expenses	(8.30%)	(7.57%)	(11.58%)
Administration expenses	(16.14%)	(14.63%)	(19.32%)
R&D expenses	(1.97%)	(2.08%)	(3.37%)
Operating profit (loss) margin	(18.54%)	(4.80%)	(26.14%)
Non-operating income	21.76%	(13.50%)	0.45%
Income tax expense	(0.92%)	3.19%	6.76%
Net profit(loss) margin	2.29%	(15.11%)	(18.94%)

Note: Sums may not equal totals due to rounding.

9

Monthly Operating Income (NT$ thousand)

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November-25 Net operatingincome this month： 52,744 Net operating income for the previous month last year： 78,524 This month's revenue increase and decrease： (25,780) Percentage increase or decrease this month： (32.83) Net accumulated operatingincome for theyear： 711,965 Net accumulated operatingincome lastyear： 669,341 Thisyear's revenue increase and decrease： 42,624 Percentage increase or decrease thisyear： 6.37	November-25 Net operatingincome this month： 52,744 Net operating income for the previous month last year： 78,524 This month's revenue increase and decrease： (25,780) Percentage increase or decrease this month： (32.83) Net accumulated operatingincome for theyear： 711,965 Net accumulated operatingincome lastyear： 669,341 Thisyear's revenue increase and decrease： 42,624 Percentage increase or decrease thisyear： 6.37
Net operatingincome this month：	52,744
Net operating income for the previous month last year：	78,524
This month's revenue increase and decrease：	(25,780)
Percentage increase or decrease this month：	(32.83)
Net accumulated operatingincome for theyear：	711,965
Net accumulated operatingincome lastyear：	669,341
Thisyear's revenue increase and decrease：	42,624
Percentage increase or decrease thisyear：	6.37

10

Consolidated Revenue (NT$ thousand)

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QoQ
YoY
(2.89%)
26.30%
250,000
208,411
202,389
200,000
160,240
150,000
100,000
50,000
0
3Q25 2Q25 3Q24
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11

Consolidated Gross Margin

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QoQ
YoY
(11.61pt)
(0.27pt)
25%
19.47%
20%
15%
7.86%
8.13%
10%
5%
3Q25 2Q25 3Q24
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12

Consolidated Operating Income(Loss) (NT$ thousand)

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QoQ
YoY
274.85%
(10.41%)
10,000
-5,000
-10,012
-20,000
-35,000
-37,530
-41,892
-50,000
3Q25 2Q25 3Q24
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13

Consolidated Operating Profit (Loss) Margin

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QoQ
(13.74pt) YoY
7.60pt
0%
(4.80%)
-5%
-10%
-15%
-20%
(18.54%)
-25%
(26.14%)
-30%
3Q25 2Q25 3Q24
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14

Consolidated Net Income(Loss)

(NT$ thousand)

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QoQ
YoY
114.72%
115.28%
10,000
4,637
5,000
0
-5,000
-10,000
-15,000
-20,000
-25,000 -30,347
-31,498
-30,000
-35,000
3Q25 2Q25 3Q24
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Consolidated Net Profit(Loss) Margin

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QoQ
17.40pt YoY
21.23pt
5%
2.29%
0%
-5%
-10%
-15%
(15.11%)
-20%
(18.94%)
-25%
3Q25 2Q25 3Q24
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16

Consolidated Earnings Per Share (NT$)

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QoQ
0.60 YoY
0.59
0.20
0.08
0.10
0.00
-0.10
-0.20
-0.30
-0.40
-0.51
-0.52
-0.50
-0.60
3Q25 2Q25 3Q24
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17

Q & A

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