Sinyi Realty Inc. · TWSE:9940
Sinyi Realty — FY2025 Earnings Presentation
27 slides from Sinyi Realty's earnings presentation, March 2026
Slide 1: Sinyi Realty Inc. 2025Q4 Investors' Conference
Sinyi Realty Inc. 2025Q4 Investors' Conference Chen, Chih-Huan, Chief Finance Officer Cheng, Jin-De, manager of real estate research department 1
Slide 2: Outline
2025 consolidated Outline Operational highlights Fiscal year 2025 financial performance and financial indicators Operational Results Real estate brokerage business and other business Financial Results Significant changes of assets, liabilities and equities Forward-looking Market prospect and corresp
Slide 3: Disclaimer
Disclaimer The information herein and the presentation made during the conference contain forward-looking statements and are provided for information purposes only. Neither Sinyi Realty Inc. nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statemen
Slide 4: Fiscal Year 2025 Operational highlights
Fiscal Year 2025 Operational highlights Consolidated Revenue NT$11,457 Million Revenue fell by NT$1,325 million (-10%) due to central bank credit controls and shrinking transaction volumes. However, monthly revenue has improved since August, demonstrating resilience compared to the overall market. D
Slide 5: Revenue contribution by business segment
Revenue contribution by business segment Operational highlights 2025Q4 2024Q4 China (non-development Japan China (development subsidiaries) China (non-development 7% subsidiaries) 1% subsidiaries) 1% 2% Domestic non-development subsidiaries 6% Sinyi Realty Inc. 46% Domestic development Sinyi Realty
Slide 6: Quarterly Performance
Quarterly Performance Consolidated Revenue (In 100 million NTD) 2025Q4 vs 2025Q3 Description： 46.47 • The impact of central bank real estate credit controls slightly eased, boosting branch momentum as Sinyi’s brokerage revenue grew 10% from Q3. 23.99 22.13 22.93 23.04 • Jiapin project reached approx
Slide 7: Store Count and Distribution
Store Count and Distribution Operational Results As of 2026.02 Taoyuan- Hsinchu area FY2026 63 FY2025 66 Taipei Metro Area FY2026 251 Taichung area FY2025 262 FY2026 65 FY2025 76 Tainan-Kaohsiung area Total FY2026 60 FY2026 439 FY2025 61 FY2025 465 7
Slide 8: Development Projects of Sinyi's Subsidiaries
Development Projects of Sinyi′s Subsidiaries Operational Results Accumulated Total 2025 (As of December 31, 2025) Project Available Rate of Delivered Revenue Delivered Revenue Units sale Units Recognized Units Recognized NT$ Jia-Pin 114 100% - - 91 2,157M Shanshui NT$ NT$ 608 70% 426 4 Jiating (Wuxi
Slide 9: Development Schedule of Tourism Business
Development Schedule of Tourism Business Operational Results 1. Schedule on Hotel in Melinsung 2024 2027 year end Begin Hotel Grand opening of construction Hotel Mainly carrying out structural construction works (1F to 11F) and contract awarding, as well as finalizing the interior fit-out for the mo
Slide 10: Balance Sheet Highlights (1/2)
Financial Results Balance Sheet Highlights(1/2) As of December 31st 2025 vs December 31st 2024 Inventory Decrease of NT$1,512M: Primarily a NT$934M net reduction from 80% delivery of Jiapin project in Q4 and construction at JiaHsueh project. Jiating project & Shanshui Jiating project saw a NT$67M de
Slide 11: Balance Sheet Highlights (2/2)
Financial Results Balance Sheet Highlights(2/2) As of December 31st 2025 vs December 31st 2024 Short-term and Long-term borrowings Decrease of NT$ 149M (-2%), mainly because Sinyi Realty increased bank borrowings by NT$ 351M to meet operational needs, while Sinyi Development repaid construction fina
Slide 12: Corresponding Strategy
Corresponding Strategy Forward-looking Market Atmosphere Real Estate Brokerage Business The market is expected to continue a Strategy in Taiwan “price-volume consolidation” trend, Continue to deepen the Dream Fulfillment with homebuyers remaining cautious Initiative, leveraging digital technology, t
Slide 13: Housing Market Outlook for 2026H1
Forward-looking Housing Market Outlook for 2026H1 Transaction volume fell only 4% YoY in the first two months, exiting double-digit declines as the market enters a consolidation phase. Booming stock market will provide significant support for real estate demand. Mortgage lending is normalizing
Slide 14: Appendix: Financial figures
Appendix：Financial figures Income Statement Analysis Inventory details Balance Sheet Analysis Cash flow details 14
Slide 15: Appendix I: Consolidated Profit and Loss
Appendix I Expressed in NT$ thousand 2025 2024 Diff. Diff(%) YoY Variance Net sales 11,457,445 12,781,951 (1,324,506) -10% – Consolidated Operating cost 9,237,674 9,123,883 113,791 1% Profit and Loss Gross Profit 2,219,771 3,658,068 (1,438,297) -39% Operating expense 1,797,597 1,860,339 (62,742) -3%
Slide 16: Appendix II: Profit/Loss of Brokerage Business Unit and Tourism
Appendix II YoY Variance Expressed in NT$ thousand –Profit/Loss 2025 2024 Diff. Diff(%) of Brokerage Service revenue 9,223,067 12,659,979 (3,436,912) -27% Business Unit Cost of sales 6,955,328 8,859,604 (1,904,276) -21% and Tourism Gross Profit 2,267,739 3,800,375 (1,532,636) -40% Operating expenses
Slide 17: Appendix III: Revenue and Profit/Loss of Brokerage Business Unit
Appendix III YoY Variance –Revenue and Profit/Loss of Brokerage Business Unit Expressed in NT$ thousand Net sales 2025 2024 Diff. Diff(%) Sinyi Reality 7,842,313 11,262,017 (3,419,704) -30% An-Sin & An-Shin 217,802 268,220 (50,418) -19% Shanghai Sinyi 113,839 110,353 3,486 3% Suzhou Sinyi 50,621 66,
Slide 18: Appendix IV: Profit/Loss of Brokerage and Tourism Segments
Appendix IV YoY Variance –Profit/Loss of Brokerage and Tourism Segments Expressed in NT$ thousand Net sales 2025 2024 Diff. Diff(%) Japan Sinyi 331,928 304,409 27,519 9% Sinyi Global Asset 56,853 57,231 (378) -1% An-Sin & An-Shin 38,760 49,768 (11,008) -22% Fidelity Malaysia (2,784) (4,899) 2,115 na
Slide 19: Appendix V: Profit/Loss of Development Segment
Appendix V YoY Variance –Profit/Loss of Development Segment Expressed in NT$ thousand 2025 2024 Diff. Diff(%) Sales revenue 2,228,871 121,973 2,106,898 1727% Service revenue 5,507 - 5,507 na. Cost of sales 2,282,346 264,279 2,018,067 764% Gross Profit (47,968) (142,306) 94,338 na. Operating expenses
Slide 20: Appendix VI: Current Assets
Appendix VI Expressed in NT$ thousand YoY Variance 2025.12.31 2024.12.31 Diff. Diff(%) –Asset Current Assets Cash & Cash 4,474,574 4,205,337 269,237 6% equivalents Financial Assets at Fair 1,503,807 1,345,620 158,187 12% Value through P&L Trade & Notes 1,226,928 1,252,859 (25,931) -2% Receivable Oth
Slide 21: Appendix VII: Non-Current Assets
Appendix VII Expressed in NT$ thousand YoY Variance 2025.12.31 2024.12.31 Diff. Diff(%) –Asset Non-Current Assets Financial Assets measured at fair value 28,890 6,071 22,819 376% through profit and loss Financial Assets measured at fair value 107,669 115,280 (7,611) -7% through other comprehensive i
Slide 22: Appendix VIII: Current Liabilities
Appendix VIII YoY Variance Expressed in NT$ thousand –Liability 2025.12.31 2024.12.31 Diff. Diff(%) Current Liabilities Short-term Borrowings 394,512 618,619 (224,107) -36% Contract Liabilities 868,447 829,967 38,480 5% - current Trade payable & Notes 531,182 388,803 142,379 37% payable Other Payabl
Slide 23: Appendix IX: Non-Current Liabilities
Appendix IX YoY Variance Expressed in NT$ thousand –Liability 2025.12.31 2024.12.31 Diff. Diff(%) Non-Current Liabilities Bonds Payable 900,000 900,000 - - Long-term Borrowings 7,570,121 6,494,972 1,075,149 17% Lease Liabilities - non- 2,956,767 2,776,523 180,244 6% current Deposits Received 28,938
Slide 24: Appendix X: Shareholders' Equity
Appendix X Expressed in NT$ thousand YoY Variance 2025.12.31 2024.12.31 Diff. Diff(%) –Shareholders’ Ordinary shares 7,368,465 7,368,465 - 0% Equity Capital surplus 63,983 63,790 193 0% Legal reserve 3,257,815 3,073,308 184,507 6% Special reserve 490,275 1,246,293 (756,018) -61% Unappropriated earni
Slide 25: Appendix XI: Inventory as of December 31, 2025
Appendix XI Expressed in NT$ thousand Inventory as of December 31, 2025 Expected Completion Year of the 2025.12.31 2024.12.31 Sales Contract Property under development Xinzhuang District, New Taipei City Before the end of (JiaHsueh project) 2028. 1,523,683 1,290,664 Banqiao District, New Taipei City
Slide 26: Appendix XII: 2025 Consolidated Cash Flows
Appendix XII 2025 Consolidated Cash Flows Expressed in NT$ thousand 2025 2024 YoY Beginning Balance 4,205,337 5,081,864 (876,527) Net cash (used in) generated from operating activities 1,738,909 2,070,848 (331,939) Net cash generated from (used in) investing activities 659,376 (1,710,065) 2,369,441
Slide 27: Contact Information
Contact Information Spokesperson of Finance Dept Contact Phone Number Email to the Company Chen, Chih-Huan Su, Pei-Yi #42602 (02)2755-7666 Investor@sinyi.com.tw Vice general manager Manager