China General Plastics Corporation · TWSE:1305
China General Plastics — Q2 2025 Earnings Presentation
27 slides from China General Plastics's earnings presentation, Aug 21, 2025
Slide 1: Investor Conference
2025 Investor Conference 2025/8/21
Slide 2: Investor Conference Itinerary
China General Plastics Corp. Investor Conference 2025/8/21 Time Itinerary Reporter 14:00〜14:30 VIP Registration Review for Q2 & Outlook for Q3 J H Wu, Director 14:30〜15:00 Finance Information for H1 C F Li, Manager 15:00〜15:30 Q&A Otto Hu, President 2
Slide 3: 2025 Q2 Review & Q3 Outlook
China General Plastics Corp. 2025 Q2 Review & Q3 Outlook Aug 21, 2025 Reporter : J.H. Wu, Director 3
Slide 4: Q2 Review: PVC feedstocks
2025 Q2 Review : PVC feedstocks Ethylene : The global economic uncertainty exacerbated by US reciprocal tariffs. OPEC+ planned production increase in Q3 and the impact of increased production by Chinese manufacturers causing ethylene prices continued to decline. In Mid-June, the conflict between I
Slide 5: Q2 Review: PVC (I)
2025 Q2 Review : PVC(I) Plant maintenance remained high in China during Q2, but new capacity added to push operating rates increased gradually (74% to 78%). Output increased by 3% in H1 year-on-year. However, the reciprocal tariffs imposed by China and the US, as well as the sluggish real estate s
Slide 6: Q2 Review: PVC (II)
2025 Q2 Review : PVC(II) With the start of India's new fiscal year in Q2, demand for PVC in agricultural irrigation and infrastructure projects strengthened. However, ample supply/ higher proportion of low- priced Chinese imports (up 15% year-on-year)/ rising freight rates/ tariffs/ appreciation o
Slide 7: H1 Review: Consolidated Sales
2025 H1 Review : Consolidated Sales The consolidated sales till Q2 in 2025 was NT$ 5.120 B, which decreased by NT$ 0.861B YoY ( 14 %↓). Sales Quantities (KT) Products 2025 2024 +/- VCM / PVC 157 166 -9 PVC Products 15 20 -5 Alkaline 100% 29 30 -1 Total 201 216 -15 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 Jul-25 9
Slide 10: Q3 Outlook: Ethylene
2025 Q3 Outlook : Ethylene With the finalization of global US tariffs, the market concerned about the impact of inflation to crude oil demand. Furthermore, OPEC+ has lifted its voluntary production cut agreement and announced production increases in August/September. Though tensions in Russia/Ukra
Slide 11: Q3 Outlook: EDC / VCM
2025 Q3 Outlook : EDC / VCM EDC : Weak demand of alkali chlorine derivatives led to rise the inventories. Production in Northeast Asia continues to reduce for price control. Near-sea EDC producers lower their operating rates to support prices and keep margins. In contrast, US EDC supply is relativ
Slide 12: Q3 Outlook: PVC Supply (I)
2025 Q3 Outlook : PVC Supply(I) China is making its 15th Five-Year Plan for rectifying low-price/ disorderly competition among enterprises, leading the outdated production capacity to exit orderly. The anti- involution agenda driven by expanding domestic consumption and loosening of real estate in
Slide 13: Q3 Outlook: PVC Supply (II)
2025 Q3 Outlook : PVC Supply(II) Declining crude oil and light oil prices led Asian crackers to reduce ethylene production for increasing margins. Downstream derivative and PVC demand remains uncertain (due to tariffs, the Indian monsoon and anti-dumping ). EDC producers operate at low rate in ord
Slide 14: Q3 Outlook: PVC Demand (I)
2025 Q3 Outlook : PVC Demand(I) The Chinese government's macroeconomic outlook remained bullish in Q3 (Two New policies stimulate domestic consumption; supply-side reforms combat involution and control petrochemical products supply; tariff grace extensions improve price competitiveness for PVC end
Slide 15: Q3 Outlook: PVC Demand (II)
2025 Q3 Outlook : PVC Demand(II) India's PVC demand for agricultural and irrigation infrastructure projects remained stable in Q3. However, the monsoon season impacted downstream consumption causing PVC manufacturers reduced domestic prices. The imported goods are plentiful, resulting PVC market s
Slide 16: Q3 Outlook: PVC Products (I)
2025 Q3 Outlook : PVC Products(I) Construction Materials: Domestic private housing sales are impacted by government credit controls/ labor shortages/ rising material cost/ weather conditions leading to a pessimistic expectation for the construction industry outlook and housing start in H2. However
Slide 17: Q3 Outlook: PVC Products (II)
2025 Q3 Outlook : PVC Products(II) Film/Leather Products: During the grace period of the reciprocal tariffs in Q2~Q3, urgent orders from North America for automobiles, boats, furniture and stationery surged, leading to increase revenue and profits. CGPC continue to promote high-value products for
Slide 18: High Value-added New Products (I)
High Value-added New Products (I) 1. ISO14021 pipes : - ESG products, compliant with CNS standards and ISO 14021 certification. CNS 1298 drainage pipe CNS 1302 Power Conduit - Made from PCR recycled materials and certified to ISO 14021 : 1) PVC pipes for CNS 1298 drainage pipes. 2) PVC electric cond
Slide 19: High Value-added New Products (II)
High Value-added New Products (II) 3. Optimize rubber products (PVC/TPO), water-based shoulder-friendly properties : - Uses water-based solvent-free technology to significantly reduce VOC emissions, complying with market trends and environmental regulations. - Excellent properties : skin-friendly, s
Slide 20: High Value-added New Products (III)
High Value-added New Products (III) 4. TPO insulation tape (ESG product) : - The process and products are environmentally friendly, without plasticizers or heavy metals. - Excellent chemical resistance and electrical properties. 5. TPO cutting board : - TPO environmentally friendly material replaces
Slide 21: 2025 H1 Finance Information
China General Plastics Corp. 2025 H1 Finance Information Aug 21, 2025 Reporter : C F Li, Manager 21
Slide 22: HY1 Sales by Products
2025 HY1 Sales by Products (NT$million) 22
Slide 23: Consolidated Statements of Income
Consolidated Statements of Income Unit : NT$million , except per share data 2025 2024 2024 2023 2022 YoY% Jan.-Jun. Jan.-Jun. FY FY FY Sales 5,120 5,981 -14.4% 11,087 13,707 17,637 Cost of goods sold 5,418 5,487 -1.3% 10,876 12,030 16,959 Gross profit -298 494 -160.3% 211 1,677 678 Gross profit rati
Slide 24: Financial Ratio Analysis (Consolidated Basis)
Financial Ratio Analysis (Consolidated Basis) 2025 2024 2024 2023 2022 Jan.-Jun. Jan.-Jun. FY FY FY Operating income margin(%) -15.1 -0.9 -7.6 3.4 -5.6 Net income margin(%) -13.9 0.9 -6.8 2.9 -1.9 Debt ratio(%) 51 44 48 42 40 Current ratio(%) 96 162 136 204 217 Quick ratio(%) 60 99 82 127 129 Averag
Slide 25: Disclaimer
Disclaimer This presentation includes the Company’s current information and any development or adjustments thereof will be published according to laws, regulations or rulings. The Company is not obligated to update or revise this presentation. The information in this presentation is not for inve
Slide 26: The End Thank You
China General Plastics Corp. The End Thank You 2025/8/21 Work together to create prosperity 26
Slide 27: Investor Conference Q&A
China General Plastics Corp. Investor Conference Q&A 2025/8/21 Work together to create prosperity 27
China General Plastics — Q2 2025 Earnings Presentation on 6ix