The information contained in this presentation, including all forward-looking statements, is subject to change without notice, whether as a result of new information, future events or otherwise, and Test-Rite Int’l Ltd. (the “Company”) undertakes no obligation to update or revise the information contained in this presentation.
Actual results may differ materially from those expressed or implied in these forwardlooking statements and no representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is the information intended to be a complete statement of the Company, markets or developments referred to in this presentation.

• Beginning on January 1, 2013, the Company has adopted International Financial Reporting Standards (IFRS) as issued by International Accounting Standards Board and endorsed by ROC Financial Supervisory Commission (FSC). Reporting for our annual and interim consolidated financial statements follow Taiwan IFRS requirements, however, given that there exist material differences between Taiwan IFRS and generally accepted accounting principle in the Republic of China (ROC GAAP), selected comparison of financial results in 2013 may have material differences versus previously released financial information under ROC GAAP.

• Financial Highlights FY2014………….………3

• Group Introduction………………………...….10

Retail Sector…………………………….…….....15
Trading Sector……………………...……………19
• Appendix………………………….…...…………..25

FINANCIAL HIGHLIGHT IN FY2014

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Consolidated P&L for 4Q14 & FY2014 (IFRS Based)

(NT$ mn)	4Q13	4Q14	YoY%	FY2013	FY2014	YoY%
Turnover	8,752.5	8,813.3	0.7%	35,203.9	35,946.2	2.1%
Gross profit	2,766.8	2,853.5	3.1%	10,610.3	10,832.0	2.1%
Gross margin %	31.6%	32.4%		30.1%	30.1%
Operating Expense	-2,513.5	-2,554.9	1.6%	-9,833.6	-9,850.1	0.2%
Operating profit	253.3	298.6	17.9%	776.7	981.9	26.4%
Operating margin %	2.9%	3.4%		2.2%	2.7%
Non-operating income/loss	-29.5	-81.2	175.2%	-44.0	-98.8	124.4%
Pre-tax profit	223.8	217.5	-2.8%	732.7	883.1	20.5%
Net profit	176.0	179.4	2.0%	640.6	715.2	11.6%
Other comprehensive income	23.1	16.8	-27.1%	29.7	37.3	25.5%
Total net profit	199.1	196.3	-1.4%	670.3	752.5	12.3%
Net profit attribute to TRIC	175.0	180.8	3.3%	635.1	705.7	11.1%
Recurring Net profit attribute to TRIC *	167.4	157.1	-6.1%	524.4	676.0	28.9%

Basic EPS(attributed to TRIC)(NT$)	0.36	0.36	0.2%	1.30	1.42	8.6%
Recurring Fully-diluted EPS(Aft- tax)*	0.32	0.31	-4.7%	1.00	1.32	30.9%

Sales increase is driven by principle trading and TW Hola
GP% benefiting from higher PL sales and commission income from agency business
Higher tax rate is result 100mn bonus point

redemption of profit in 2013 that is not taxes

Recurring profit was NT$ 676.0 mn in FY2014, an increase of 28.9%

* Recurring net profit exclude FOREX and one-time expense. FOREX contribution for 4Q14 and 4Q13 was NT$ 28.0 mn and NT$ 7.6 mn; FY2014 and FY2013 was NT$ 35.5 mn and NT$ 35.6 mn. M&A, cashback reward and store closing related onetime expense for 4Q14 was NT$ 4.33 mn; FY2014 and FY2013 was NT$ 5.74 mn and NT$ 75.1 mn.

th
• 18 consecutive YoY increase of quarterly net income and EPS on the same accounting basis
Basic EPS increased 8.6% to NT$ 1.42 for FY2014; Recurring fully-diluted EPS was NT$ 1.32, + 30.9% YoY for FY2014

TR Basic EPS

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NT$
1Q 2Q 3Q 4Q
1.50 1.42
1.40
1.27 1.30
1.30
0.30 0.36
1.03
1.10 1.01 0.26 0.36
0.90 0.25 0.33 0.23 0.30
0.31
0.27
0.70 0.23
0.24 0.22 0.21
0.19 0.17
0.31
0.50 0.02 0.14
0.07
0.51
0.30
0.13 0.50 0.55 0.50 0.56
0.43
0.10 0.20
(0.09)
(0.10)
2009A 2010A 2011A 2012A 2012 IFRS 2013 IFRS 2014 IFRS
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Test Rite International Co., Ltd. (2908) – Consolidated (IFRS Based) Consolidated sales and net profit by BU for 4Q14 & FY2014 (IFRS Based)

Consolidated sales (NT$ mn)	4Q13	4Q14	YoY%	FY2013	FY2014	YoY%
Taiwan Retail▲	4,209.6	4,396.7	4.4%	16,667.9	17,211.9	3.3%
HOLA China ^	1,077.3	1,143.6	6.2%	3,896.0	4,096.8	5.2%
Trading`◎`	2,792.2	2,848.2	2.0%	12,631.1	12,990.5	2.8%
Others #	673.5	424.7	-36.9%	2,008.9	1,647.1	-18.0%
Consolidated Sales	8,752.5	8,813.3	0.7%	35,203.9	35,946.2	2.1%
Consolidated net profit (NT$ mn)	4Q13	4Q14	YoY%	FY2013	FY2014	YoY%
Taiwan Retail▲	224.3	227.1	1.3%	645.4	645.7	0.0%
HOLA China ^	33.4	16.5	-50.6%	-45.4	-65.6	44.6%
Trading`◎`	1.8	30.0	1524.9%	424.9	537.6	26.5%
Others #	-84.6	-92.8	9.8%	-389.8	-411.9	5.7%
Consolidated Net Profit	175.0	180.8	3.3%	635.1	705.7	11.1%
Consolidated Recurring Net Profit	167.4	157.1	-6.1%	524.4	676.0	28.9%

▲ Taiwan Retail included TLW (DIY), DÉCOR House, Hola Taiwan, and TTS.

^ HOLA China only included HOLA China.

◎ Trading included Great China, TRPC, SO/RO, and related party transactions write-off.

# Others included Life 1 Plaza, TRR others, Chung Cin, group office expense, and gain on sale and leaseback.

ROE continues to improve since 2009, mainly driven by higher margin and falling net debt ratio
The decreased in net debt ratio is the result of
Disposal of Tong Lung Metal
Reduction of working capital

TR Group ROE & Net profit

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NTD$mn
Net Profit ROE
900 18.0%
15.1%
800 16.0%
700 14.0%
11.3%
600 12.0%
9.9% 9.5% [10.0%]
9.1%
500 10.0%
832 7.1% 7.4% 7.3%
400 8.0%
727 5.6% 690 706
636 635
300 6.0%
577
3.5% 4.0% 487 509
200 425 4.0%
2.2%
285
100 182 2.0%
137
- 0.0%
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2012 2013 2014
IFRS IFRS IFRS
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*ROE is defined as Net income/Average shareholders equity

The decline in working capital is the result of inventory control and payment extension in both trading (30 to 90 days) and retail (90 to 120 days)
CCC improved 10 days from FY2012 to FY2014
Net debt ratio decreased 38.6 ppt to 75.3% from 2011 to 2014. Interest expense decreased by 10.3% in 2014 versus 2011

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NT$ bn	2010A	2011A	2012A	2013A	FY2014A
Accounts receivables	2,186.4	2,961.8	2,413.5	2,759.4	3,110.6
Inventory	4,735.7	5,928.5	4,840.9	5,154.3	5,696.0
Accountspayable	3,212.7	4,471.9	4,531.4	5,467.0	5,895.9
Working Capital	3,709.4	4,418.4	2,723.0	2,446.7	2,910.8
YoY%		19.1%	-38.4%	-10.1%	19.0%

 Trading Business

– 3~5% growth total shipment growths

Added two agency customers since 2H14

 Retail Business

Sales growth of 3~5% for Taiwan; 5-10% for Hola China, driven store openings and online sales
GM% increase from higher sales % of PL products and joint procurement
5-8 store openings
+0 - 1 TLW; +2 Hola Taiwan;
Introduce first Crate & Barrel in Taiwan (4Q15)
+3-5 Hola China “New Concept Stores” (80-90% product overlap with Hola Taiwan)
CAPEX: NT$ 1.2 bn

GROUP INTRODUCTION

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Tony Ho, Group Chairman; Co Founder of Test-Rite Group. Tony played a critical role in Test-Rite’s expansion into retail business and was instrumental in leading the company’s IPO efforts. Tony recently completed the two-year Joint Executive MBA Program between Taiwan University and Fudan University and completed his graduation thesis: “How to pursue further growth by organization transformationtake large retail group for example.”

Judy Lee, Chairwoman, Test-Rite Int’l (2908 TT/2908 TW); Co Founder of Test-Rite Group. Best know as the “Queen of Hardline”, Judy is a seasoned veteran of the import/export trading business. With Judy at the helm, Test-Rite Trading consistently provides outstanding services to retail customers globally and has received multiple recognitions as “Best Partner/Supplier”.

Sophia Tong, Group CEO. Sophia joined Test-Rite in March 2009 to lead both Trading and Retail businesses. Prior to Test-Rite Sophia was the General Manager of IBM Taiwan from 2006 to 2009 and the Director of China Banking Cluster for IBM Greater China Group. Sophia was previously with IBM for over 25 years.

2014 Establish a Distribution Center in Shanghai Free Trade Zone; Acquired German operations

2013 Acquired 100% shares of International Art

2012 Sold 67% stake in Tong Lung Metal; Acquired 49% TRPC’s shares

2011 Décor House grand opening

2010 TLW HOLA, HOLA CASA and FREER successfully completed retail channel integration

2008 Acquired 50% of B&Q TW’s shares from Kingfisher plc

2004 Established HOLA China

2001 Nominated “The Best 200 Small Companies” by Forbes

1998 Established HOLA Taiwan – Home Decoration

1995 Established B&Q Taiwan – Home Improvement

1993 Listed on TWSE (2908TT), became a listed company.

1978 Test Rite Group established as a trading company that specialized in hand tool exports

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Vision Strategy
Goal Culture
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Home HOLA Taiwan (23) HOLA特力和樂 decoration HOLA China (38) Home TLW 特力屋 (26)、 Improvement 特力屋PLUS宅修便利購 (1) 、HISU Mattresses HOLA CASA 和樂名品傢俱 (21)、HOLA & Bedding Petite(13) WEDGWOOD(12)、FRETTE(6)

Comprehensive home DÉCOR House integration services

Brand Crate & Barrel licensing Market deployment Taiwan China

Hardline & Auto Home Furnishing Consumer electronics, Lighting, Hand tools, Hardware, Auto accessories, Kitchenware, Decoration, Christmas Auto parts, New business development decoration, Sport equipments

Bath & Storage Storage, Bathroom products, Suitcase, Traveling utilities Stationery Indoor furniture, Office supplies , Stationery, PC peripherals

Seasonal Outdoor furniture, BBQ rack/hearth, Gardening, North-East Asia projects

Agency

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New
The Pan Zealand Southeast India
America s Europe & Australia Asia
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Creative Design/ Product Chung Cin Corp. Logistics/ warehousing Development service s Theme Trend & Product Concept; Shopping mall construction; Office China Taiwan Product Design; VI & Graphic Design; building construction; Booth Packaging& Purchasing recruitment USA Europe

Note: store numbers updated on Mar. 31[st] , 2015

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RETAIL SECTOR 零售事業

Retail TW Business Strategy

TLW （股）

 Private label

Increased HOLA TW private label sales mix to 50% and TLW private label sales mix to 30% within 3 years
Dual sourcing of HOLA Taiwan and HOLA China to reduced cost

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Store Locations

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TLW
HOLA
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 Omni-channel

1~3 new stores in 2015 (HOLA + Crate & Barrel)
Redesign our own EC platform
Double EC/MC volume in 2015

 Reposition TLW channel; HOLA become trend leader

Kitchenware Appliance Storage Décor/Textile

Product Brand

Channel Brand (Franchising) Channel Brand (Licensing)

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Strictly Confidential

Retail CN Business Strategy

HOLA CHINA

 Increase Private label sales mix

Dual sourcing of HOLA Taiwan and HOLA China to reduced cost

 New concept stores

Dual sourcing of HOLA Taiwan and HOLA China to reduced cost
Improve operating efficiency

 Omni-channel

Launched our E-commerce platform on T-Mall in June, 2014 and on Yi-hao-dian in 4Q14

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Will launch another platform on JD.com in 2015

TRADING SECTOR

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 Continue focus on key customers in principle trading

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Continue agency business’ growth momentum

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NEW

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Become a Product Company
37 staffs in PD team; 1 mini-lab in Shanghai
Provide component based service through establishment in FTZ
Global integration

Received Red Dot Awards for packaging in FY2014
Motion censer light and Trash bin for Costco
Kitchen and furniture for our own retail channel

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Germany
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MOMO
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Urban
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with local service 19 offices in 15 countries, 4 warehouses in China, Taiwan, Germany, and U.S.
US warehouse provides logistics/ warehousing service to customers of principal trading.

Greater China Retail Service

Worldwide Trading Service

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●
●
●
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●
●
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● TESTRITE’s Warehouse

謝謝各位 Q & A

APPENDIX:

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TLW revenue totaled NT$ 2.74 bn, +2.4%YoY for 4Q14, and totaled NT$ 11.0bn for FY2014, +0.6%YoY
Hola Taiwan revenue totaled NT$ 1.66 bn, +8.1%YoY for 4Q14 and totaled NT$ 6.15 bn, +8.4%YoY for FY2014

TW Retail Net Sales

(1,000) 2,000 5,000 8,000 11,000 14,000 17,000 20,000 NT$mn	10,134 9,771 9,687 9,361 9,888 10,252 10,620 10,992 11,058 3,037 3,182 3,549 4,073 5,118 5,591 5,296 5,676 6,154 13,171 12,953 13,236 13,434 15,006 15,843 15,916 16,668 17,212 -10% -5% 0% 5% 10% 15% 20% 25% 30% 2006A 2007A 2008A 2009A 2010A 2011A 2012A 2013A 2014A YoY % HOLA TW TLW HOLA TW TLW

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Target sales growth of 5-10% and breakeven for 2015

HOLA CN Net Sales

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RMB$mn YoY %
900 833 100%
775 777 813
800
640 80%
700
600 449 60%
500
40%
400
305
300 210 20%
200 110
0%
100
0 -20%
2006A 2007A 2008A 2009A 2010A 2011A 2012A 2013A 2014A
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HOLA China P&L Performance

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NT$mn
0
-50
-45.4
-65.6
-100
-150
-165
-200
-208
-250
-246 -257
-300 -277
2008 2009 2010 2011 2012 2013 2014
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30
25
20
15
10
5
0
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Revenue totaled RMB$ 233.1 mn, +4.4% YoY for 4Q14 and totaled RMB$ 833.1 mn, +2.5% YoY for FY2014
Loss increased by 44.6% YoY to net loss NT$ 65.6 mn for FY2014, reflected higher operating expense from new stores openings
27 out of 35 stores were at breakeven for 4Q14, versus 24 out of 33 stores in 4Q13
Same-store-sales, calculated for stores opened for more than one year, was 4.8% for 4Q14 and 3.2% for FY2014

HOLA CN Breakeven store numbers

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27
24
22
19
[20] 18
[17] [19]
15 [17]
14
11 11
10 10 10
6 6
4
3
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14
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Store #	2006A	2007A	2008A	2009A	2010A	2011A	2012A	2013A	2014A
TLW	21	22	22	22	23	23	24	26	26
HOLA TW	11	12	13	13	18	20	21	22	23
Total 32 34 35 35 41 43 45 48 49
HOLA CN 7 9 14 18 27 28 31 33 35

Selling space(㎡)	2006A	2007A	2008A	2009A	2010A	2011A	2012A	2013A	2014A
TLW	91,756	93,938	93,938	93,938	89,727	87,966	88,711	92,060	92,071
HOLA TW 36,919 40,073 43,541 43,541 50,349 53,995 51,780 53,117 53,162
Total 128,675 134,011 137,479 137,479 140,076 141,961 140,491 145,177 145,233
HOLA CN 25,593 32,595 46,442 51,506 59,481 60,116 63,686 62,848 64,860

Avg. selling space(㎡)	2006A	2007A	2008A	2009A	2010A	2011A	2012A	2013A	2013A
TLW	4,369	4,270	4,270	4,269.9	3,901	3,824	3,696	3,541	3,541
HOLA TW	3,356	3,339	3,349	3,349	2,797	2,700	2,466	2,414	2,311
Total	4,021	3,942	3,928	3,928	3,417	3,301	3,122	3,025	2,964
HOLA CN (RMB) 4,298 6,443 6,567 8,717 10,760 12,892 12,201 12,934 12,849

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特力 (TR)
2908 TT / 2908 TW
100%
100%
Test Rite Retailing
(Cayman)
力秋
100% 100%
立駿 Perfect Group 特力有限公司
(HK) Test-Rite Retailing Ltd.
75%
100% 100% 25%
立威 Energy 特力屋(上海)商貿 TLW / 特力屋 ( 股 )
(Shanghai) HOLA (Shanghai) 100%
TR Home Service
Co.
Life One Plaza HOLA CN TLW Plus TLW HOLA TW HOLA Petite HOLA CASA Décor House
(五角場) (38 stores) (1 stores) (26 stores) (23 stores) (13 stores) (21 Stores) (1 Store)
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Store # are as of March 31[ st] , 2015 Designate Retail Sales Channels TLW (Formerly B&Q TW) made a tender offer of HOLA TW common shares in June 2009. TLW merged HOLA TW, Freer, and HOMY in Oct 2009. And the scheduled date of 4 in 1 merger is Dec. 31, 2009.

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Omni
Channel
Physical
EC Mobile
store
Website Develop
revision
APP
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EC sales as a % of total sales in FY2014:

TLW: NT$ 351.9 mn, 3.2% of TLW sales
HOLA TW: NT$ 189.2 mn, 3.1% of TLW sales
HOLA CN: RMB $1,288.1K, 0.26% of sales (June ~ December, 2014)

圖資文優化

及時存貨補貨與退貨優化

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Sales totaled NT$ 351.9 mn in FY2014, +11.0%YoY
Have ~15,000 SKUs online
TLW store have 30,000~40,000 SKUs in average
Sales per ticket: NT$ 2,825
Transaction: 129,615
TLW physical store CC: 7,194,528 AVT: NT$ 1,453.72
Sales totaled NT$ 189.2 mn in FY2014, +35.3%YoY
Have ~10,000 SKUs online now
HOLA store have 30,000~40,000 SKUs in average
Sales per ticket: NT$ 2,357
Transaction: 80,263
HOLA TW physical store CC: 3,679,890 AVT: NT$ 1,712.42

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Communicate promotional events with customers by WeChat every week
Revenues totaled $1,288.1K RMB (June ~ December, 2014)
Have ~300 SKUs online
Sales per ticket: RMB $ 268
Transaction: 4,663
HOLA CN physical store CC: 3,679,890 AVT: RMB$ 328

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Trading Overview – FY2014

Principle trading shipments totaled NT$ 12.73 bn, +2.8% YoY for FY2014 and accounted for 69.0% of total shipments
Agency business shipments totaled NT$ 5.72 bn, +9.1% YoY for FY2014, accounted for 31.0% of total shipments
Commission revenue total NT$ 255 mn, +7.1% YoY for FY2014, accounted for 2.0% of total trading sales

NT$mn

20,000

15,000

10,000

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5,000
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0
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TR Trading Shipments

Pricinple Agency

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17,635 18,454
16,330
14,501 31.0%
29.7%
12,523 26.8%
23.0%
20.7%
70.3%
73.2%
77.0% 69.0%
79.3%
2010 2011 2012 2013 2014
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NT$mn TR Agency Shipments
7,000
6,000 5,719
5,242
CAGR +21.9%
5,000
4,375
4,000
3,328
3,000
2,586
2,000
1,000
0
2010 2011 2012 2013 2014
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Trading Overview – FY2014

• Trading consolidated shipments breakdown by region

Europe shipment increased 39.9% YoY, accounted for 14.7% of total shipment, +3.7ppt in 2014
Shipment for North America increased 2.0% YoY, accounted for 64.8% of total shipment, -1.7ppt in 2014

TR Trading Shipments by Region

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NT$mn USA & Canada Latin/South America Europe Australia Asia Africa
20,000
18,454
18,000 17,635 6.0% 1.7%
16,091 2.2%
15,725 3.9% 3.8%
16,000 2.0% 4.3% 2.3% 7.5%
3.4% 14.7%
14,000 6.3% 9.2% 11.0%
12,418
2.2% 15.3% 12.0% 8.9% 9.0%
12,000 4.4%
6.7%
9.3% 9.1%
10,000
18.1%
8,000 10.5%
64.8%
6,000 66.5%
63.6% 63.1%
4,000 58.0%
2,000
0
----- End of picture text -----

2010A

2011A

2012A

2013A

2014A

Trading Overview – FY2014

Principle trading shipments breakdown by products
Hard lines, house ware and seasonal are main product categories at 15-20% of total shipments each
Agency business accounted for 31.0% of total shipments for FY2014

TR Trading Shipments by Categories

Electrical Hard lines House ware S.I.T. Seasonal Others Agency	Electrical Hard lines House ware S.I.T. Seasonal Others Agency	Electrical Hard lines House ware S.I.T. Seasonal Others Agency	Electrical Hard lines House ware S.I.T. Seasonal Others Agency
		17,635	18,454
15,725	16,091
212%	272%	29.7%	31.0%
12,418 09% .	.	03%
17.7% 2.1% . 20.8%	192% 0.7%	17.0% .	18.9% 0.1%
5.5% 19.8%	5.2% .	4.7%	4.3%
21.7% 7.7%		12.9%	12.1%
14.8%	18.1%	19.5%	186%
23.9% 22.5%	17.9%		.
11.0% 10.5%	11.7%	15.9%	15.1%

2010A

2011A

2012A

2013A

2014A

Test Rite International Co., Ltd. (2908) – Consolidated (IFRS Based) Consolidated Balance Sheet for FY2014 (IFRS Based )

(NT$ mn)	FY2013	FY2014		FY2013	FY2014
Total cash and cash equivalents	2,418.4	2,316.1	Short-term borrowings	2,256.7	2,749.8
Total current financial assets at fair value through profit or loss	352.0	1,053.6	Short-term notes and bills payable	10.0	80.0
Current bond investment without active market, net	166.1	158.7	Accounts and Notes Payable	5,467.0	5,895.9
Accounts & Notes Receivable	2,759.4	3,110.6	Other Payable	1,831.2	1,382.3
Other Receivable	455.6	411.1	Current tax liabilities	105.4	87.2
Total inventories	5,154.3	5,696.0	Total advance receipts	603.4	464.7
Total prepayments	563.6	385.4	Total long-term liabilities, current portion	300.0	500.0
Other current financial assets	0.3	1.7	Other Current Liability	230.8	207.7
Other Current Assets	141.6	60.9
Total current assets	12,011.3	13,194.2	Total Current Liabilities	10,804.5	11,367.7

Test Rite International Co., Ltd. (2908) – Consolidated (IFRS Based) Consolidated Balance Sheet for FY2014 (IFRS Based )

(NT$ mn)	FY2013	FY2014		FY2013	FY2014
Non-current financial assets at cost, net	71.8	71.1	Long-term bank loans	5,227.6	5,662.5
Prepayments for investments	0.0	44.4	Accrued pension liabilities	123.4	125.1
Non-current bond investment without active market, net	50.0	50.0	Other Non-Current Liability	423.6	404.7
Total property, plant and equipment	6,208.1	6,048.1	Total non-current liabilities	5,774.6	6,192.3
Goodwill and Intangible Assets	2,419.3	2,473.0	Total liabilities	16,579.1	17,560.0
Deferred tax assets	1,089.2	1,182.0
Total other non-current assets	1,522.5	1,858.1	Capital	5,219.6	5,139.6
Total Non-Current Assets	11,360.9	11,726.8	Total capital surplus	694.5	678.8
			Total retained earnings	1,580.1	1,733.4
			Total other equity interest	-2.4	29.8
			Treasury shares	-729.1	-248.2
			Total equity attributable to owners of parent	6,762.7	7,333.5
			Non-controlling interests	30.5	27.5
			Total equity	6,793.2	7,361.0
Total assets	23,372.2	24,920.9	Total Liabilities & Equity	23,372.2	24,920.9

AI assistant

Test Rite — Investor Presentation 2015

52229_rns_2015-04-15_3a0e0ff9-09af-48cd-81bb-3f3440d0366c.pdf

• Financial Highlights FY2014………….………3

• Group Introduction………………………...….10

FINANCIAL HIGHLIGHT IN FY2014

Consolidated P&L for 4Q14 & FY2014 (IFRS Based)

TR Basic EPS

TR Group ROE & Net profit

 Trading Business

 Retail Business

GROUP INTRODUCTION

RETAIL SECTOR 零售事業

Retail TW Business Strategy

TLW （股）

 Private label

Store Locations

 Omni-channel

 Reposition TLW channel; HOLA become trend leader

Retail CN Business Strategy

HOLA CHINA

 Increase Private label sales mix

 New concept stores

 Omni-channel

TRADING SECTOR

 Continue focus on key customers in principle trading

NEW

Greater China Retail Service

Worldwide Trading Service

● TESTRITE’s Warehouse

APPENDIX:

TW Retail Net Sales

Target sales growth of 5-10% and breakeven for 2015

HOLA CN Net Sales

HOLA China P&L Performance

HOLA CN Breakeven store numbers

圖資文優化

Trading Overview – FY2014

NT$mn

TR Trading Shipments

Trading Overview – FY2014

• Trading consolidated shipments breakdown by region

TR Trading Shipments by Region

Trading Overview – FY2014

TR Trading Shipments by Categories

Thank you!

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Test Rite Investor Presentation 2015