San Neng Group Holdings Co., Ltd. · TWSE:6671
San Neng — Q2 2025 Earnings Presentation
76 slides from San Neng's earnings presentation, Aug 27, 2025
Slide 1: 2025 Q2 Earnings Conference
Sanneng Group Holdings Co., Ltd. 2025 Q2 Earnings Conference Based on Taiwan, Deep in Asia, and Go global ! Reporter: CEO Hsiao, Kai-Feng CFO Chen, Liu-Yu Aug. 27, 2025
Slide 2: Disclaimer
Disclaimer The information contained in this presentation, including all forward looking information, is subject to change without notice, whether as a result of new information, future events or otherwise, and Sanneng Group Holdings Co., Ltd. (the “Company”) undertakes no obligation to update or re
Slide 3: Agenda
Agenda 1 Company Overview 2 Business Performance 3 Competitive Advantage Analysis 4 Future Prospects 2
Slide 4: Company Overview
1 Company Overview 3
Slide 5: Corporate Culture
Corporate Culture Become the leading brand of professional, service and Vision trustworthy food ware in Asia Promoter of safety, environmental protection, energy Mission saving and carbon reduction of food ware Values Professionalism, integrity, innovation (Business philosophy) Purpose Improve the l
Slide 6: Company Information
Company Information San Neng - KY was established in Apr 2015 • 1982/06 – San Neng Taiwan • Squires Kitchen Jul. 2017 • 2000/08 – San Neng Wuxi • Xin Neng Wuxi Apr. 2019 • 2010/08 – San Neng Japan • San Neng Guangzhou Jan. 2022 • 2015/11 – San Neng Indonesia • 2024/02 – San Neng Indonesia Industry C
Slide 7: Investment Structure
Investment Structure San Neng - KY CAYMAN (6671) 100% East Gain Investment Limited SAMOA 100% 100% 100% 100% 100% San Neng San Neng Hong San Neng Japan San Neng San Neng Industry Taiwan (TW) Kong (HK) (JP) Indonesia (ID) Indonesia (ID) 100% San Neng Wuxi (WX) 59.78% 52.48% 100% Xin Neng Bakeware Squ
Slide 8: Our Brands
Our Brands B to B B to C B to B/C B to B/C B to C market market market market market Professional / Family / Premium / Convenient Beautiful Life Quality Heartwarming Professional /practical 7
Slide 9: Our Products
Our Products Main products: R&D, manufacturing and sales of various baking and food utensils products Baking Baking Customized Moulds Tools Food Homeware & Others 8
Slide 10: Our Products
Our Products Baking Moulds Baking Trays, Loaf Pan, Cake Mould, Pie Pan, Mousse Rings…. Baking Tools Whisks, Bowls, Knives, Brushes, Cake Stands… 9
Slide 11: Our Products - Home Products
Our Products Home Products 10
Slide 12: Our R&D Capacity
Our R&D Capacity As of July. , 2025 Area Patents and R&D Achievements • A total of 39 patents • San Neng Taiwan secured Taichung City Small Business Innovation Research (SBIR) Subsidy. Taiwan • San Neng Taiwan secured Ministry of Economic Affairs’ Low Carbon and Smart Upgrading and Transformation Pr
Slide 13: Business Performance
— BERG » Lo uiaS AES Bs @ #e : Professional Manufacturer of Bakery Equipment @ Business Performance 12
Slide 14: 2025&2024 Q2 Consolidated Balance Sheets
2025&2024 Q2 Consolidated Balance Sheets In thousands of NTD Account Title\ Period 2025.06.30 2024.06.30 +/- +/- Ratio Cash 395,833 653,499 -257,666 -39.43% Amortized cost financial asset - current 111,065 69,458 41,607 59.90% Accounts receivable 213,104 238,879 -25,775 -10.79% Inventories 301,330 2
Slide 15: 2025&2024 Q2 Consolidated Income Statement
2025&2024 Q2 Consolidated Income Statement In thousands of NTD Account Title \ Period 2025 Q2 2024 Q2 +/- +/- Ratio Operation Revenue 963,097 963,589 -492 -0.05% Gross Profit 368,523 361,833 6,690 1.85% Gross Margin 38.26% 37.55% 0.71% 1.89% Operation Expense 290,703 261,067 29,636 11.35% Net Income
Slide 16: Analysis of the Income Statement
Analysis of the Income Statement Account Title Variance amount for Jan–Jun 2025 vs. prior period PT. Sanneng Asia Industry Indonesia incurred an investment loss of NT$5,278 thousand. Operating Expenses Total employee benefit expenses for the Group (including Analysis of Indonesia) amounted to NT
Slide 17: Historical Operating Performance
歷史經營實績(Historical Operating Performance) 2,500,000 250,000 2,000,000 200,000 1,500,000 150,000 1,000,000 100,000 500,000 50,000 0 0 2020Q4 2021Q4 2022Q4 2023Q4 2024Q4 2024Q2 2025Q2 營業收入(Revenue) 1,913,403 2,067,136 1,861,962 1,905,839 2,039,422 963,589 963,097 本期淨利( Net Profit After Tax) 220,416 207
Slide 18: Historical Financial Performance & Dividend Policy
歷年財務績效及股利政策(Historical Financial Performance & Dividend Policy) 4.00 100% 85.71% 86.51% 90% 3.50 3.66 81.97% 82.30% 81.76% 3.50 80% 3.00 3.18 3.00 3.00 70% 2.89 2.50 2.60 2.50 60% 2.43 2.00 50% 2.00 40% 1.50 30% 1.00 20% 0.85 0.50 10% 6.42% 6.12% 5.01% 6.10% 6.06% - 0% 2020Q4 2021Q4 2022Q4 2023Q4 20
Slide 19: Financial Ratios
Financial Ratios Projects 2023 2024 2025 Q2 Debt-to-asset ratio (%) 22.19 22.99 26.70 Financial Long-term capital accounts for real Structure estate, plant and equipment ratio (%) 220.46 220.08 205.12 Current ratio (%) Current ratio (%) 291.38 252.46 207.16 Debt-paying Ability Quick ratio (%) 206.55
Slide 20: Financial Ratios (Continued)
Financial Ratios (Continued) Projects 2023 2024 2025 Q2 Return on assets (%) 8.22 8.76 4.96 Return on shareholders' equity (%) 10.49 11.20 6.47 Ratio of operating profit to paid-in capital (%) 36.29 36.21 25.61 Profitability Ratio of pre-tax profit to paid-in capital (%) 42.00 42.30 25.85 Net profit
Slide 21: Six Major Categories
Six Major Categories Analysis of the revenue structure Analysis of the gross profit structure Year Year 2024 Q2 2025 Q2 2024 Q2 2025 Q2 Category Category Customized 34.47% 30.12% Customized 32.06% 31.79% Baking mold 39.21% 42.70% Baking mold 39.25% 40.14% Baking tools 19.95% 21.25% Baking tools 44.2
Slide 22: Areas
Areas Analysis of the revenue structure Analysis of the gross profit structure Year Year 2024 Q2 2025 Q2 2024 Q2 2025 Q2 Areas Areas China 65.25% 67.98% China 35.08% 36.76% Taiwan 15.18% 14.80% Taiwan 40.52% 38.80% Asia 17.35% 13.90% Asia 43.50% 44.25% Europe, America and Europe, America and 2.22% 3
Slide 23: Competitive Advantage Analysis
3 Competitive Advantage Analysis 22
Slide 24: Competitive Advantage Analysis
Comprehensive and Industrial resource stable integration capability distribution system Competitive Advantage Analysis Customized New product research development and leads the market Development capabilities Provide a complete solution 23 23
Slide 25: 1. Comprehensive and stable distribution
1. Comprehensive and stable distribution Taiwan's market base Northern Area Ⅱ Middle Area Ⅰ 南二區 42 北一區 77 南一區 40 Middle Area Ⅱ Northern Area Ⅰ 中二區 84 北二區 73 中一區 57 Southern Area Ⅰ Southern Area Ⅱ 373 distributors across Taiwan As of Jul. , 2025 24
Slide 26: China's market base
China's market base North China Area Ⅱ 電商86 華東一區 38 華東二區 86 North China Area 華南二區 127 Ⅲ 華東三區 78 North China Area Ⅰ West China Area 華西區 58 East China Area Ⅰ East China Area Ⅲ 華北一區 53 East China Area Ⅱ 華南一區 139 South China Area 華北二區 27 Ⅱ 華北三區58 South China Area Ⅰ 750 distributors across China As of Ju
Slide 27: 2. Industrial resource integration capability
2. Industrial resource integration capability Upstream and downstream resources in the baking industry 26
Slide 28: 2. Industrial resource integration capability
2. Industrial resource integration capability Co-branded with chain store / famous bakers 27
Slide 29: 2. Industrial resource integration capability
2. Industrial resource integration capability Industry alliance co-branded brands 28
Slide 30: 2. Industrial resource integration capability
2. Industrial resource integration capability Industry alliance co-branded brands Famous illustrator - OJIMEOW 29
Slide 31: 2. Industrial resource integration capability
2. Industrial resource integration capability Industry alliance co-branded brands 30
Slide 32: 2. Industrial resource integration capability
2. Industrial resource integration capability Industry alliance co-branded brands 31
Slide 33: 2. Industrial resource integration capability
2. Industrial resource integration capability World Bread Champion Chef Strategy Alliance 32
Slide 34: 3. Customized research and development capabilities
3. Customized research and development capabilities
Slide 35: 3. Customized R&D capabilities - Fast Food Tray
3. Customized research and development capabilities Fast Food Tray
Slide 36: 3. Customized research and development capabilities
3. Customized research and development capabilities 35
Slide 37: 3. Customized R&D capabilities - Starbucks
3. Customized research and development capabilities Starbucks customized products 36
Slide 38: 3. Customized R&D - JBCW Grilled Fish Plate
3. Customized research and development capabilities JBCW Customized-Grilled Fish Plate
Slide 39: 4. New product development leads the market
4. New product development leads the market Dessert Spoon 58 38
Slide 40: 4. New product development leads the market
4. New product development leads the market Carving knife/paring knife 39
Slide 41: 4. New product development leads the market
4. New product development leads the market iFREE GROUP～Transformers Burger Mould 40
Slide 42: Disneyland Groot and Iron Man Burger Moulds
Disneyland~Groot Burger Mould Disneyland~Iron Man Burger Mould 41
Slide 43: 4. New product development leads the market
4. New product development leads the market Clould Shape Loaf Pan 42
Slide 44: 5. Provide complete solutions - diagnostic services
5. Provide complete solutions - diagnostic services Baguette Stacking Problem－ Rimless Baguette No borders, easy to stack, save space; Reduce weight and save costs; Reduce the accumulation of dirt and evil; Easy to clean and better demolding
Slide 45: 5. Provide complete solutions - diagnostic services
5. Provide complete solutions - diagnostic services The labor-intensive problem of product removal － Slant baking pan 44
Slide 46: Future Outlook
BRE > Peviteet A eT Be 3 J Future Outlook Professional Manufacturer of Bakery Equipment 45
Slide 47: Future Outlook
Future Outlook 3. Channel aspect • Live broadcast (course) • we media • operating Agency 2. Industry aspect 4. Product aspect • Catering Products • In Line with ESG • Outdoor Products Principles • Trends of the Times 1. . R&D aspect 5. Market aspect • In Compliance with • Expanding the Laws and Regu
Slide 48: 1. R&D aspect-future R&D plan
1. R&D aspect-future R&D plan 01 • Development of next-generation anti-stick coating technology for surface of food utensils Surface • PVD titanium plating process application development Treatment • Replace sandblasting process development • Surface hydrophobic treatment technology of steel plates
Slide 49: 2. Industry Aspect--Catering/Outdoor Products
2. Industry Aspect--Catering/Outdoor Products Catering Market 48
Slide 50: 2. Industry Aspect--Catering/Outdoor Products
2. Industry Aspect--Catering/Outdoor Products 49
Slide 51: 2. Industry Aspect--Catering/Outdoor Products
2. Industry Aspect--Catering/Outdoor Products
Slide 52: Manual Coffee Brewing Equipment - Main Product
Manual Coffee Brewing Equipment - Main Product Manual Coffee Grinder Latte Art Milk Pitcher Pour Over Kettle Coffee Server Clever Dripper Filter Paper Coffee Cup Digital Scale 51
Slide 53: Manual Coffee Brewing Equipment - Accessory Products
Manual Coffee Brewing Equipment - Accessory Products Thermometer Dripper Stand Coffee Scoop Coffee Grinder Cleaning Brush Cupping Spoon Coffee Bean Canister 52
Slide 54: From the heart, everywhere is home.
從心出發 到哪裡都是家 From the heart, everywhere is home.
Slide 55: Products sale in the outdoor market
2. Industry Aspect--Catering/Outdoor Products Products sale in the outdoor market 54
Slide 56: Products sale in the outdoor market
Products sale in the outdoor market
Slide 57: 3. Channel aspect—Live broadcast (course)
3. Channel aspect—Live broadcast (course) • Sanneng actively participates in and executes the live broadcast (such as Tmall and Tiktok etc.) and we media (such as wechat, Tiktok Xiaohongshu etc.) through SK Company. • Currently, we also develop and provide live broadcast solutions for many alliance
Slide 58: 3. Channel — we media
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Slide 59: 3. Channel — we media
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Slide 60: 3. Channel — Operating Agency
3. Channel — Operating Agency Operating Agency by SK Company Increase operating income and the added value of fans 59
Slide 61: 4. Product aspect—products and processes in line with ESG trends
4. Product aspect—products and processes are in line with ESG trends 60
Slide 62: 4. Product aspect—products and processes in line with ESG trends
4. Product aspect—products and processes are in line with ESG trends 61
Slide 63: Energy-saving products-low sugar toast mold
4. Product aspect—products and processes are in line with ESG trends Energy-saving products-low sugar toast mold
Slide 64: Non-stick treatment process
4. Product aspect—products and processes are in line with ESG trends Non-stick treatment process Environmental protection Recoating Process Coating Backside New Frontside Backside Removal Cleaning Coating 63
Slide 65: 4. Product aspect—ESG trends
4. Product aspect—products and processes are in line with ESG trends SANNENG Professional in Bakeware Chinese Grill Fish Pan Korean BBQ grid 64
Slide 66: 5. Market aspect – expanding the Southeast Asian market
5. Market aspect – expanding the Southeast Asian market Korea Based on Taiwan, deep in Asia, and China Japan go global! Asia Layout Thailand Philippines Westward：Strengthen industrial resource cooperation and jointly serve major customers Malaysia Southward：Gradually expand ASEAN market based on San
Slide 67: Indonesia factory location
5. Market aspect – expanding the Southeast Asian market Location： Rent an existing factory in Solo, Jawa Tengah, Indonesia. Factory area is approximately 2,400㎡=726 Taiwanese ping.
Slide 68: Baking Tray and Loaf Pan Production Lines
• Baking Tray Production Line • Loaf Pan Production Line 67
Slide 69: Non-stick Production Line - Sandblasting Equipment
• Non-stick Production Line - Sandblasting Equipment Manual Sandblasting Machine Automatic Sandblasting Machine 68
Slide 70: Non-stick Production Line - Spray Coating Equipment
• Non-stick Production Line - Spray Coating Equipment Manual Spray Coating Automatic Spray Coating Robot 69
Slide 71: Non-stick Production Line - Baking Equipment
• Non-stick Production Line - Baking Equipment Automatic Continuous Baking Machine (32 m) Box Furnace 70
Slide 72: Major customers in Indonesia
• Major customers in Indonesia 71
Slide 73: > Peta LMP eT BES
> Peta LMP eT BES 72
Slide 74: Towards ASEAN – Champion Demo Global Tour
Towards ASEAN – Champion Demo Global Tour Wang Sen Group X Sanneng X Sinmag 73
Slide 75: ABs
ABs RmBARSEKR RABI RE AO HES
Slide 76: Thank You
: la Thank You 75
Sanneng Group Holdings — Q2 2025 Earnings Presentation on 6ix