Tsrc Corporation · TWSE:2103
Tsrc — 2nd Investor Conference 2025
20 slides from Tsrc's conference presentation, Nov 24, 2025
Slide 1: TSRC – Global Specialty Polymers
2025 TSRC – Global Specialty Polymers 2nd Investor Conference, 24 Nov. 2025
Slide 2: Disclaimer
Disclaimer The information presented and referred herein are based upon the information obtained internally and externally from our company. Forward-looking operational results, financial condition and business results might be different from those information expressly or impliedly presented herein
Slide 3: Agenda
AGENDA 1. Introduction • Mingyi Wu, Asst. Vice President 2. 2025 Sep Year-to-date Financial • Edward Wang, CFO Performance 3. 2025 Business Review and 2026 • Joseph Chai, CEO Market Outlook 4. Summary • Joseph Chai, CEO 5. Q&A 2025 TSRC Confidential and Proprietary P.3
Slide 4: Introduction
[1] Introduction Mingyi Wu, Asst. Vice President
Slide 5: 2025 Sep Year-to-date Financial Performance
[2] 2025 Sep Year-to-date Financial Performance Edward Wang, CFO
Slide 6: YTD Sep 2025 Financial Highlights
YTD Sep 2025 Financial Highlights In NT$M YTD Sep’24 YTD Sep’25 YoY Revenue 27,620 28,112 2% Gross Profit 3,168 2,735 (14%) Operating Profit 1,146 669 (42%) Non-Operating* 563 16 (97%) Income before Tax 1,709 685 (60%) Net income 939 180 (81%) EPS (NT$) 1.14 0.22 (81%) *Include impairment loss of NT
Slide 7: YTD Sep 2025 Revenue by Geography
YTD Sep 2025 Revenue by Geography 27,620 28,112 2,572 2,525 4,180 3,883 Others Europe Americas 20,617 21,387 Asia YTD Sep 2024 YTD Sep 2025 Amount in NT$M 2025 TSRC Confidential and Proprietary P.7
Slide 8: YTD Sep 2025 Major Equity Investment
YTD Sep 2025 Major Equity Investment ISRPL ARL-TSRC 485 400 37 (8) Amount in NT$M Note: numbers shown as TSRC’s investment income of each investee. 2025 TSRC Confidential and Proprietary P.8
Slide 9: Industry Dynamics remains favorable
Industry Dynamics remains favorable US$/MT NR-BD price gap (RHS) ICIS BD CFR NEA (LHS) 2,000 1,200 1,600 800 1,200 400 800 0 400 (400) 0 (800) Jul-21 Jul-18 Jul-19 Jul-20 Jul-22 Jul-23 Jul-24 Jul-25 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 Jan-23 Jan-24 Jan-25 2025 TSRC Confidential and Proprietary P.9
Slide 10: 2025 Business Review and 2026 Market Outlook
[3] 2025 Business Review and 2026 Market Outlook Joseph Chai, CEO
Slide 11: 2025… A very challenging year for the petrochemical and chemical industry
2025… A very challenging year for the petrochemical and chemical industry ♦ Unprecedented & prolonged industry down cycle ♦ Confronting the perfect storm ➢ Weak demand ➢ Overcapacity & oversupply ➢ Margin compression ♦ Dramatic supply chain adjustments driven by shifting trade flow ♦ Low utilization
Slide 12: TSRC remains resilient amid industry headwinds
TSRC remains resilient amid industry headwinds ♦ TSRC is not immune from industry and market downturn with several product lines experiencing weak demand and substantial price competition due to oversupply ♦ TSRC remains resilient in delivering positive net income thanks to a resilient business port
Slide 13: Expect continued challenges & uncertainties in 2026 for the chemical Industry
Expect continued challenges & uncertainties in 2026 for the chemical Industry ♦ Modest market growth outlook with uncertainties, including automotive manufacturing sectors, amid slow downstream recovery ♦ Potential recovery momentum is constrained by uncertainties from tariffs and geopolitical issue
Slide 14: TSRC is committed to navigate through the downcycle
TSRC is committed to navigate through the downcycle with laser focus and change resilience ♦ Execute business strategies with agility and discipline to maximize portfolio mix benefits ♦ Improve and address under performing asset and business ♦ Double down on effort and invest in high-growth, high- v
Slide 15: Key business focus in 2026 for TSRC
Key business focus in 2026 for TSRC ♦ Improve profitability via portfolio mix optimization, and productivity initiatives ♦ Leverage Shenhua’s new plant to enhance efficiency and maximize output ♦ Execute SSBR new line construction to support strong growth in SSBR for EV/Green tires ♦ Expedite approv
Slide 16: ESG highlights
ESG highlights ♦ On-track to meet the annual 2.5% carbon reduction goal for 4 consecutive years ♦ Consistently strengthen plant safety with steady YOY TRIR performance improvement ♦ External ESG recognitions ➢ ISCC+ certification for TSRC (Nantong) Industries ➢ TAISE Top 100 Taiwan Sustainable Corpo
Slide 17: Summary
[4] Summary Joseph Chai, CEO
Slide 18: Summary
Summary ♦ Delivered good results in 2025, 01 relative to downcycle of chemical industry. Expect structural headwinds to continue into 2026. 02 ♦ Priority in 2026 - Focus on maximizing portfolio and profitability mix to ensure business resilience. ♦ Double efforts on SSBR and 03 Medical to drive mid
Slide 19: Q&A
Q&A 2025 TSRC Confidential and Proprietary P.19
Slide 20: Thank You
THANK YOU