China General Plastics Corporation · TWSE:1305
China General Plastics — Q1 2025 Earnings Presentation
24 slides from China General Plastics's earnings presentation, May 16, 2025
Slide 1: Investor Conference
2025 Investor Conference 2025/5/16
Slide 2: Investor Conference Itinerary
China General Plastics Corp. Investor Conference 2025/5/16 Time Itinerary Reporter 14:00〜14:30 VIP Registration Review for Q1 & Outlook for Q2 J H Wu, Director 14:30〜15:00 Finance Information for Q1 C F Li, Manager 15:00〜15:30 Q&A Otto Hu, President 2
Slide 3: 2025 Q1 Review & Q2 Outlook
China General Plastics Corp. 2025 Q1 Review & Q2 Outlook May16, 2025 Reporter : J.H. Wu, Director 3
Slide 4: Q1 Review: PVC feedstocks
2025 Q1 Review : PVC feedstocks Ethylene Although the demand for replenishment after the Lunar New Year Festival once pushed the price of ethylene in Northeast Asia back above $900/mt, the subsequent weak demand for ethylene derivatives caused buyers turn to the sidelines. The severe impact of Chi
Slide 5: Q1 Review: PVC (I)
2025 Q1 Review : PVC (I) In Q1, PVC spreads in Asian markets performed poorly, many producers are under maintenance or lower operation to reduce losses. However, Chinese new capacity continued to join production and keep running during the Spring Festival holidays. The spring inspection of the equ
Slide 6: Q1 Review: PVC (II)
2025 Q1 Review : PVC (II) India’s Q1 fiscal year was settled. With China’s high imports, sufficient inventory, falling freight rates and buyers wait and see, PVC demand slowed down. The market share of non- China origin shrank. Import volume remained at the same level year-on-year. In Bangladesh,
Slide 7: Q1 Review: Consolidated Sales
2025 Q1 Review : Consolidated Sales The consolidated sales in 2025 Q1 was NT$ 2.462B, which decreased by 0.443B YOY(15%↓)。 Sales Quantities (KT) 2025 Q1 2024 Q1 +/- VCM/PVC 70 83 -13 PVC Products 7 10 -3 Alkaline 15 15 0 Total 92 108 -16 7
Slide 8: Crude Oil & Ethylene Price Trend
Crude Oil & Ethylene Price Trend Unit:US$/bbl WTI Unit:US$/MT CFR NEA (Platts) 130 1,500 Crude Oil Ethylene 110 1,300 90 1,100 70 900 50 700 30 500 10 300 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 Oct-22 Jan-23 Apr-23 Jul-23 Oct-23 Jan-24 Apr-24 Jul-24 Oct-24 Jan-2
Slide 9: PVC / VCM / EDC Price Trend
PVC / VCM / EDC Price Trend Unit:US$/MT CFR NEA (Platts) 1,950 1,800 1,650 EDC VCM PVC 1,500 1,350 1,200 1,050 900 750 600 450 300 150 0 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 Oct-22 Jan-23 Apr-23 Jul-23 Oct-23 Jan-24 Apr-24 Jul-24 Oct-24 Jan-25 Apr-25 9
Slide 10: Q2 Outlook: Ethylene
2025 Q2 Outlook : Ethylene The U.S. tariff war has impacted global crude oil demand. Coupled with OPEC+ plans to increase production and ongoing tensions between the U.S. and Iran, oil prices have fallen to their lowest levels in nearly four years. The ongoing trade tensions are reshaping the glob
Slide 11: Q2 Outlook: EDC / VCM
2025 Q2 Outlook : EDC / VCM EDC : China’s caustic soda exports reached a record high in Q1, leading to an overall supply surplus in Northeast Asia and recent regional price volatility. This may prompt some chlor-alkali producers to adjust their operating rates. Meanwhile, U.S. EDC (ethylene dichlo
Slide 12: Q2 Outlook: PVC Supply
2025 Q2 Outlook : PVC Supply Chinese PVC plants spring maintenance peaked in Q2. But new production capacity continued to join into production and the alkali chlorine operation remained high (↑82~83%). The costs of calcium carbide and VCM kept stable, but the operating rate full run during the Lab
Slide 13: Q2 Outlook: PVC Demand (I)
2025 Q2 Outlook : PVC Demand(I) Chinese economic development faces multiple pressures both in domestic and abroad. In addition to the continuous drag on the recovery of real estate, the US-China trade war has escalated to fight with comprehensive high-tariff each other. That has obviously impacted
Slide 14: Q2 Outlook: PVC Demand (II)
2025 Q2 Outlook : PVC Demand(II) India’s new fiscal year budget for Q2 was implemented. The demand for PVC in agriculture and irrigation infrastructure was strengthened. In addition to paying attention to the price and inventory changes of Chinese PVC, domestic manufacturers' price cut to compete
Slide 15: Q2 Outlook: PVC Products (I)
2025 Q2 Outlook: PVC Products(I) Construction materials products: Domestic private housing sales/operation rate have been sluggish for more than three consecutive quarters. The manufacturing industry was impacted by the imposition of high US tariffs and the government's continuous credit control.
Slide 16: Q2 Outlook: PVC Products (II)
2025 Q2 Outlook: PVC Products(II) PVC film & leather: In Q1, the demand for PVC leather of automobiles, boats and furniture in North America gradually recovered. Stepping into Q2, new items of leather and film products developed for domestic and foreign sales were gradually come to commercializati
Slide 17: High Value-added New Products (I)
High Value-added New Products (I) 1. PVC CHROMA Cool : - Promoting the bicycle market. Summer outdoor exposure tests in Kaohsiung proved 47.0°C 60.8°C 72.3°C that the cooling seat heats up slower than regular seats, CGPC with a difference of 12 degrees . Cools down faster to a comfortable temperatur
Slide 18: High Value-added New Products (II)
High Value-added New Products (II) 3. TPO Car Seat & Stroller leather : - Adopted by the European brand Chicco. - lightweight, cold-resistant, comfortable, non-toxic, and environmentally friendly, and fully recyclable (an ESG product). 4. TPO Car Floor Mats : - Exported to Australia and the US for A
Slide 19: 2025 Q1 Finance Information
China General Plastics Corp. 2025 Q1 Finance information May 16, 2025 Reporter : C F Li, Manager 19
Slide 20: Q1 Sales by Products
2025 Q1 Sales by Products (NT$million) 20
Slide 21: Consolidated Statements of Income
Consolidated Statements of Income Unit : NT$million , except per share data 2025 2024 2024 2023 2022 YoY% Jan.-Mar. Jan.-Mar. FY FY FY Sales 2,462 2,905 -15.2% 11,087 13,707 17,637 Cost of goods sold 2,568 2,732 -6.0% 10,876 12,030 16,959 Gross profit -106 173 -161.3% 211 1,677 678 Gross profit rati
Slide 22: Financial Ratio Analysis (Consolidated Basis)
Financial Ratio Analysis (Consolidated Basis) 2025 2024 2024 2023 2022 Jan.-Mar. Jan.-Mar. FY FY FY Operating income margin(%) -14.5 -3.4 -7.6 3.4 -5.6 Net income margin(%) -11.5 -1.5 -6.8 2.9 -1.9 Debt ratio(%) 49 44 48 42 40 Current ratio(%) 117 177 136 204 217 Quick ratio(%) 70 110 82 127 129 Ave
Slide 23: The End Thank You
China General Plastics Corp. The End Thank You 2025/5/16 Work together to create prosperity 23
Slide 24: Investor Conference Q&A
China General Plastics Corp. Investor Conference Q&A 2025/5/16 Work together to create prosperity 24
China General Plastics — Q1 2025 Earnings Presentation on 6ix