Pou Chen Corporation · TWSE:9904
Pou Chen — Investor Presentation (March 2026)
22 slides from Pou Chen's investor presentation, March 2026
Slide 1: March 2026
March 2026 https: //www.pouchen.com E-mail: ir@pouchen.com PROFESSIONALISM DEDICATION INNOVATION SERVICE
Slide 2: Disclaimer
Disclaimer Pou Chen has taken every reasonable care in preparing this presentation. However, please be reminded that the information, materials, opinions and statements contained or referred to in this presentation are all provided on an “as is” basis. None of the aforesaid information, materials, o
Slide 3: Table of Contents
Table of Contents 01 Pou Chen’s Profile P. 3 02 Business Overview P. 5 03 Footwear Business – Yue Yuen P. 7 04 Retail Business – Pou Sheng P. 11 05 Financial Highlights P. 15 2
Slide 4: Pou Chen’s Profile
Pou Chen’s Profile To benefit healthy lives by providing the most valuable solutions in the sports industry and beyond. • Founded in 1969; listed on the TWSE in 1990 • Paid in Capital: NT$29,468 mn • Market Cap.: NT$88,846 mn (@NT$30.15 as of 2025/12/31) • Revenue: NT$251,400 mn (FY2025 Consolidated
Slide 5: Group Structure
Group Structure 寶成工業 Pou Chen Corp. (9904.TW) Footwear Retail Others 51.36% (32.13%)(1) Real Estate Yue Yuen Pou Sheng Development (00551.HK) (03813.HK) Shoes Retail Sales network Hotel Operation Upstream Business Wholesale Business Retail via Pou Sheng(2) (Updated: 2025/12/31) (1) Pou Chen through
Slide 6: Business Overview
Business Overview Segment Revenue Pou Chen FY2022 FY2023 FY2024 FY2025 YoY (Consolidated) (NT$mn; %) (NT$mn; %) (NT$mn; %) (NT$mn; %) (%) Footwear 184,653 69.0% 157,726 63.9% 180,734 68.5% 175,917 70.0% -2.7% Retail 81,993 30.7% 87,973 35.7% 82,158 31.1% 74,586 29.7% -9.2% Others 851 0.3% 935 0.4% 9
Slide 7: Business Overview
Business Overview Pou Chen’s 2M2026 unaudited consolidated sales decreased Y-o-Y by 3.4% to NT$43.7 bn. Revenue – Footwear Revenue - Retail (NT$mn) (NT$mn) 184,653 180,734 175,917 157,726 81,993 87,973 82,158 74,586 2022 2023 2024 2025 2022 2023 2024 2025 Revenue – Others Revenue - Total (NT$mn) (NT
Slide 8: Footwear Business – Yue Yuen
Footwear Business – Yue Yuen A global leader in the manufacture of athletic, athleisure, casual and outdoor footwear Diversified portfolio of brand customers and production sites Responsiveness, flexibility, innovation, design and development capabilities, and superior quality Area % of Volume
Slide 9: Yue Yuen – Financial Highlights
Yue Yuen – Financial Highlights Product Category FY2022 FY2023 FY2024 FY2025 YoY (US$mn; %) (US$mn; %) (US$mn; %) (US$mn; %) (%) Shoes(1) 5,707 63.6% 4,657 59.0% 5,169 63.2% 5,297 65.9% +2.5% Soles, Components, Others 496 5.5% 402 5.1% 452 5.5% 351 4.4% -22.2% Pou Sheng 2,767 30.9% 2,831 35.9% 2,561
Slide 10: Yue Yuen – Financial Highlights
Yue Yuen – Financial Highlights Yue Yuen’s 2M2026 unaudited sales increased Y-o-Y by 0.7% to US$1.4 bn. Revenue Gross Margin (US$mn) (US$mn) 23.8% 24.4% 24.4% 22.8% 8,970 7,890 8,182 8,031 2,137 1,925 1,993 1,828 2022 2023 2024 2025 2022 2023 2024 2025 Net Income(1) Net Margin (US$mm) 392 381 4.8% 4
Slide 11: Footwear Business – Gross Margin Trend
Footwear Business – Gross Margin Trend 22.8 20.6 20.5 19.7 19.3 19.4 18.2 18.2 18.3 17.1 17.8 17.9 20.3 15.7 16.0 19.2 18.0 17.7 17.8 18.1 12.7 16.8 11.7 6.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 14.7% 15.5% 18.4% 19.2% 19.9
Slide 12: Retail Business – Pou Sheng
Retail Business – Pou Sheng One of the largest integrated retailers and distributors for sportswear brands in the Greater China region Brand Partner: adidas, Nike, Puma, Skechers, and Under Armour Brick & Mortar Retail – A critical & irreplaceable sales touch point for consumers – Directly Ope
Slide 13: Pou Sheng – Financial Highlights
Pou Sheng – Financial Highlights Financial Highlights FY2022 FY2023 FY2024 FY2025 YoY (RMB mn; %) (RMB mn; %) (RMB mn; %) (RMB mn; %) (%) Revenue 18,638 20,064 18,454 17,132 -7.2% Gross Profit 6,688 6,756 6,309 5,736 -9.1% Gross Margin 35.9% 33.7% 34.2% 33.5% -0.7 pp Operating Income 415 736 709 362
Slide 14: Pou Sheng – Financial Highlights
Pou Sheng – Financial Highlights Pou Sheng’s 2M2026 unaudited sales increased Y-o-Y by 0.9% to RMB3.7 bn (US$0.5 bn). Revenue Operating Margin (RMB mn) (RMB mn) 3.7% 3.8% 18,638 20,064 18,454 17,132 2.2% 2.1% 415 736 709 362 2022 2023 2024 2025 2022 2023 2024 2025 Net Income(1) Net Margin (RMB mn) 2
Slide 15: Pou Sheng – Operating Margin Trend
Pou Sheng – Operating Margin Trend 7.1 7.2 5.7 4.8 5.1 4.4 4.5 3.6 3.5 3.5 4.5 3.1 3.0 2.7 1.5 1.3 1.3 1.7 0.3 0.8 0.8 0.5 -0.9 -1.3 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 2.6% 4.0% 2.2% 3.7% 3.8% 2.1% 14
Slide 16: Financial Highlights – Pou Chen (Consolidated)
Financial Highlights – Pou Chen (Consolidated) Segment Revenue Segment Income(1) Footwear Retail Others Footwear Retail Others 0.3% 0.4% 0.4% 0.3% 2.0% 2.1% 1.8% 2.0% 100% 100% 13.4% 18.3% 15.5% 13.8% 30.7% 31.1% 29.7% 80% 35.7% 80% 60% 60% 40% 40% 84.6% 79.6% 82.7% 84.2% 69.0% 68.5% 70.0% 63.9% 20%
Slide 17: Financial Highlights – Pou Chen (Consolidated)
Financial Highlights – Pou Chen (Consolidated) (NT$mn) FY2022 FY2023 FY2024 FY2025 YoY Revenue 267,497 246,634 263,818 251,400 -4.7% Gross Profit 64,606 61,111 65,175 58,127 -10.8% Gross Margin 24.2% 24.8% 24.7% 23.1% -1.6 pp Operating Expenses 54,010 50,895 49,221 46,560 -5.4% Operating Income 10,5
Slide 18: Financial Highlights – Pou Chen (Consolidated)
Financial Highlights – Pou Chen (Consolidated) Revenue Gross Margin (NT$mn) (NT$mn) 24.2% 24.8% 24.7% 23.1% 267,497 246,634 263,818 251,400 64,606 61,111 65,175 58,127 2022 2023 2024 2025 2022 2023 2024 2025 Net Income(1) Net Margin / EPS (NT$mn) (NT$) 6.1% 4.7% 4.3% 4.8% 16,036 5.44 12,645 12,068 4
Slide 19: Dividend Policy
Dividend Policy FY2021 FY2022 FY2023 FY2024 FY2025 Dividend / Per Share - Pou Chen (NT$) 1.50 1.30 1.10 1.70 TBA (Cash 1.50) (Cash 1.30) (Cash 1.10) (Cash 1.70) - Yue Yuen (HK$) 0.20 1.10 0.90 1.30 1.30 (Final 0.20) (Interim 0.40 / Final 0.70) (Interim 0.20 / Final 0.70) (Interim 0.40 / Final 0.90)
Slide 20: Sustainability
Sustainability The World’s Only FLA-Accredited Footwear Manufacturer, upholding the obligations of FLA’s participating suppliers by actively participating in various projects and supporting relevant industry initiatives, including singing the “Responsible Recruitment” jointly promulgated by FLA and
Slide 21: Growth Strategy
Growth Strategy Irreplaceable Partnership 5 Values 4 Directions Speed 3 Segments Design 2 E2E Platform Flexibility Footwear Equipment OEM/ODM The Most 1 Valuable Innovation Apparel Platform Material Retail Quality Accessories Process Sustainability Unique Strategic Value 20
Slide 22: THANK YOU Q&A
THANK YOU Q&A