Pou Chen Corporation · TWSE:9904
Pou Chen — Investor Presentation (November 2025)
23 slides from Pou Chen's investor presentation, November 2025
Slide 1: November 2025
November 2025 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$85,015 mn (@NT$28.85 as of 2025/09/30) • Revenue: NT$188,631 mn (9M2025 Consolidated
Slide 5: Group Structure
Group Structure 寶成工業 Pou Chen Corp. (9904.TW) Footwear Retail Others 51.36% (32.13%)(1) Real Estate Yue Yuen Pou Sheng Development (00551.HK) (03813.HK) Shoes Retail Sales network Hotel Operation Upstream Business Wholesale Business Retail via Pou Sheng(2) (Updated: 2025/09/30) (1) Pou Chen through
Slide 6: Business Overview
Business Overview Segment Revenue Pou Chen FY2022 FY2023 FY2024 9M2024 9M2025 YoY (Consolidated) (NT$mn; %) (NT$mn; %) (NT$mn; %) (NT$mn; %) (NT$mn; %) (%) Footwear 184,653 69.0% 157,726 63.9% 180,734 68.5% 132,667 67.9% 131,932 69.9% -0.6% Retail 81,993 30.7% 87,973 35.7% 82,158 31.1% 62,051 31.7%
Slide 7: Business Overview
Business Overview Pou Chen’s 10M2025 unaudited consolidated sales decreased Y-o-Y by 4.2% to NT$210.2 bn. Revenue – Footwear Revenue - Retail (NT$mn) (NT$mn) 184,653 180,734 157,726 132,667 131,932 81,993 87,973 82,158 62,051 56,038 2022 2023 2024 9M2024 9M2025 2022 2023 2024 9M2024 9M2025 Revenue –
Slide 8: Footwear Business – Yue Yuen
Footwear Business – Yue Yuen A global leader in the manufacture of athletic/outdoor and casual footwear Diversified portfolio of world-renowned brand customers and production sites Responsiveness, flexibility, innovation, design and development capabilities, and superior quality Country % of V
Slide 9: Yue Yuen – Financial Highlights
Yue Yuen – Financial Highlights Product Category FY2022 FY2023 FY2024 9M2024 9M2025 YoY (US$mn; %) (US$mn; %) (US$mn; %) (US$mn; %) (US$mn; %) (%) Shoes(1) 5,707 63.6% 4,657 59.0% 5,169 63.2% 3,782 62.3% 3,956 65.8% +4.6% Soles, Components, Others 496 5.5% 402 5.1% 452 5.5% 353 5.8% 275 4.5% -21.9%
Slide 10: Yue Yuen – Financial Highlights
Yue Yuen – Financial Highlights Yue Yuen’s 10M2025 unaudited sales decreased Y-o-Y by 1.5% to US$6.7 bn. Revenue Gross Margin (US$mn) (US$mn) 24.4% 24.4% 24.2% 23.8% 8,970 7,890 8,182 22.8% 6,075 6,017 2022 2023 2024 9M2024 9M2025 2022 2023 2024 9M2024 9M2025 Net Income(1) Net Margin (US$mm) 5.5% 4.
Slide 11: Footwear Business – Gross Margin Trend
Footwear Business – Gross Margin Trend 22.8 20.6 20.5 19.7 19.2 19.3 20.3 19.4 18.2 18.2 17.8 17.8 18.3 17.1 15.7 16.0 17.9 18.0 17.7 16.8 12.7 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 FY2020 FY2021 FY2022 FY2023 FY2024 9M2025 14.7% 15.5% 18.4% 19.2% 19.9% 18.3%
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 Channel Mix: Brick & Mortar Retail 67%; Omni-Channel 33% (9M2025 Pou Sheng Revenue) Brick & Mor
Slide 13: Pou Sheng – Financial Highlights
Pou Sheng – Financial Highlights Financial Highlights FY2022 FY2023 FY2024 9M2024 9M2025 YoY (RMB mn; %) (RMB mn; %) (RMB mn; %) (RMB mn; %) (RMB mn; %) (%) Revenue 18,638 20,064 18,454 13,984 12,903 -7.7% Gross Profit 6,688 6,756 6,309 4,758 4,320 -9.2% Gross Margin 35.9% 33.7% 34.2% 34.0% 33.5% -0
Slide 14: Pou Sheng – Financial Highlights
Pou Sheng – Financial Highlights Pou Sheng’s 10M2025 unaudited sales decreased Y-o-Y by 7.0% to RMB14.6 bn (US$2.0 bn). Revenue Operating Margin (RMB mn) (RMB mn) 3.7% 3.8% 3.7% 18,638 20,064 18,454 2.2% 2.3% 13,984 12,903 2022 2023 2024 9M2024 9M2025 2022 2023 2024 9M2024 9M2025 Net Income(1) Net M
Slide 15: Retail Business – Operating Margin Trend
Retail Business – Operating Margin Trend 7.1 7.2 5.7 4.8 5.1 4.5 4.4 4.5 3.6 3.5 3.1 3.5 3.0 2.7 1.3 1.3 1.7 0.8 0.8 0.3 0.5 -0.9 -1.3 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY2020 FY2021 FY2022 FY2023 FY2024 9M2025 2.6% 4.0% 2.2% 3.7% 3.8% 2.3% 14
Slide 16: Financial Highlights – Pou Chen (Consolidated)
Financial Highlights – Pou Chen (Consolidated) Segment Revenue Segment Income(1) Footwear Retail Others Footwear Retail Others 0.3% 0.4% 0.4% 0.4% 0.4% 2.0% 2.1% 1.8% 1.8% 1.9% 100% 100% 13.4% 18.3% 15.5% 15.9% 14.2% 30.7% 31.1% 31.7% 29.7% 80% 35.7% 80% 60% 60% 40% 40% 84.6% 79.6% 82.7% 82.3% 83.9%
Slide 17: Financial Highlights – Pou Chen (Consolidated)
Financial Highlights – Pou Chen (Consolidated) (NT$mn) FY2022 FY2023 FY2024 Revenue 267,497 246,634 263,818 Gross Profit 64,606 61,111 65,175 Gross Margin 24.2% 24.8% 24.7% Operating Expenses 54,010 50,895 49,221 Operating Income 10,596 10,216 15,954 Operating Margin 4.0% 4.1% 6.1% Non-operating Inc
Slide 18: Financial Highlights – Pou Chen (Consolidated)
Financial Highlights – Pou Chen (Consolidated) (NT$mn) 9M2024 9M2025 YoY Revenue 195,420 188,631 -3.5% Gross Profit 48,035 43,669 -9.1% Gross Margin 24.6% 23.2% -1.4 pp Operating Expenses 36,803 34,854 -5.3% Operating Income 11,232 8,815 -21.5% Operating Margin 5.8% 4.7% -1.1 pp Non-operating Income
Slide 19: Financial Highlights – Pou Chen (Consolidated)
Financial Highlights – Pou Chen (Consolidated) Revenue Gross Margin (NT$mn) (NT$mn) 24.8% 24.7% 24.6% 24.2% 267,497 246,634 263,818 23.2% 195,420 188,631 2022 2023 2024 9M2024 9M2025 2022 2023 2024 9M2024 9M2025 Net Income(1) Net Margin / EPS (NT$mn) (NT$) 6.1% 7.1% 4.7% 4.3% 4.7% 16,036 13,793 12,6
Slide 20: Dividend Policy
Dividend Policy FY2020 FY2021 FY2022 FY2023 FY2024 Dividend / Per Share - Pou Chen (NT$) 0.50 1.50 1.30 1.10 1.70 (Cash 0.50) (Cash 1.50) (Cash 1.30) (Cash 1.10) (Cash 1.70) - Yue Yuen (HK$) n/a 0.20 1.10 0.90 1.30 (Final 0.20) (Interim 0.40 / Final 0.70) (Interim 0.20 / Final 0.70) (Interim 0.40 /
Slide 21: 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 22: 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 21
Slide 23: THANK YOU Q&A
THANK YOU Q&A