3704 Zyxel Group Corporation
2026Q1 Consolidated Financial Report
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Unit: NT$ thousands
Balance Sheet | ||||
Code | Accounting Title | 2026/3/31 | 2025/12/31 | 2025/3/31 |
Assets | ||||
Current assets | ||||
1100 | Cash and cash equivalents | 2,873,308 | 3,178,855 | 3,863,103 |
1110 | Current financial assets at fair value through profit or loss | 704,415 | 749,576 | 679,462 |
1136 | Current financial assets at amortised cost | 57,384 | 54,984 | 55,279 |
1170 | Accounts receivable, net | 6,569,793 | 6,064,679 | 8,539,731 |
1180 | Accounts receivable due from related parties, net | 108,986 | 28,241 | 15,986 |
1210 | Other receivables due from related parties | 2,253 | 2,269 | 2,060 |
130X | Current inventories | 7,147,043 | 5,777,306 | 5,501,357 |
1470 | Other current assets | 1,524,648 | 1,256,980 | 1,057,458 |
1476 | Other current financial assets | 128,272 | 51,688 | 77,323 |
1479 | Other current assets, others | 1,396,376 | 1,205,292 | 980,135 |
11XX | Total current assets | 18,987,830 | 17,112,890 | 19,714,436 |
Non-current assets | ||||
1517 | Non-current financial assets at fair value through other comprehensive income | 46,681 | 46,681 | 30,099 |
1535 | Non-current financial assets at amortised cost | 123,762 | 115,787 | 141,857 |
1550 | Investments accounted for using equity method | 166,441 | 166,674 | 227,559 |
1600 | Property, plant and equipment | 2,513,946 | 2,430,882 | 2,494,291 |
1755 | Right-of-use assets | 596,153 | 578,758 | 372,344 |
1780 | Intangible assets | 142,599 | 161,837 | 178,308 |
1840 | Deferred tax assets | 806,173 | 807,122 | 912,329 |
1900 | Other non-current assets | 429,429 | 443,413 | 789,696 |
1920 | Guarantee deposits paid | 222,989 | 190,069 | 236,844 |
1930 | Long-term notes and accounts receivable | 24,395 | 65,581 | 386,227 |
1975 | Net defined benefit asset, non-current | 153,942 | 153,394 | 140,605 |
1990 | Other non-current assets, others | 28,103 | 34,369 | 26,020 |
15XX | Total non-current assets | 4,825,184 | 4,751,154 | 5,146,483 |
1XXX | Total assets | 23,813,014 | 21,864,044 | 24,860,919 |
Liabilities and equity | ||||
Liabilities | ||||
Current liabilities | ||||
2100 | Current borrowings | 1,672,011 | 1,468,008 | 2,652,806 |
2120 | Current financial liabilities at fair value through profit or loss | 9,662 | 5,178 | 93,016 |
2130 | Current contract liabilities | 190,666 | 183,786 | 338,332 |
2170 | Accounts payable | 4,905,210 | 3,326,713 | 4,925,493 |
2180 | Accounts payable to related parties | 70,375 | 68,857 | 47,037 |
2200 | Other payables | 600,083 | 814,863 | 701,993 |
2201 | Wages and salaries payable | 600,083 | 814,863 | 701,993 |
2230 | Current tax liabilities | 100,629 | 85,927 | 177,043 |
2250 | Current provisions | 234,553 | 243,307 | 329,482 |
2280 | Current lease liabilities | 47,315 | 37,362 | 42,979 |
2300 | Other current liabilities | 3,174,804 | 3,071,523 | 1,276,444 |
2320 | Long-term liabilities, current portion | 1,899,726 | 1,899,521 | 0 |
2399 | Other current liabilities, others | 1,275,078 | 1,172,002 | 1,276,444 |
21XX | Total current liabilities | 11,005,308 | 9,305,524 | 10,584,625 |
Non-current liabilities | ||||
2530 | Bonds payable | 0 | 0 | 1,898,905 |
2570 | Deferred tax liabilities | 374,214 | 356,608 | 327,983 |
2580 | Non-current lease liabilities | 350,051 | 342,377 | 351,774 |
2600 | Other non-current liabilities | 9,283 | 7,038 | 8,687 |
2640 | Net defined benefit liability, non-current | 6,143 | 6,118 | 7,800 |
2645 | Guarantee deposits received | 3,140 | 920 | 887 |
25XX | Total non-current liabilities | 733,548 | 706,023 | 2,587,349 |
2XXX | Total liabilities | 11,738,856 | 10,011,547 | 13,171,974 |
Equity | ||||
Equity attributable to owners of parent | ||||
Share capital | ||||
3110 | Ordinary share | 4,154,450 | 4,154,450 | 4,115,175 |
3140 | Advance receipts for share capital | 0 | 0 | 3,364 |
3100 | Total Share Capital | 4,154,450 | 4,154,450 | 4,118,539 |
Capital surplus | ||||
3200 | Total capital surplus | 3,721,884 | 3,715,272 | 3,640,930 |
Retained earnings | ||||
3300 | Total retained earnings | 4,392,553 | 4,275,485 | 4,033,840 |
Other equity interest | ||||
3400 | Total other equity interest | (361,105) | (461,742) | (311,134) |
3500 | Treasury shares | (96,550) | (96,550) | (96,550) |
31XX | Total equity attributable to owners of parent | 11,811,232 | 11,586,915 | 11,385,625 |
36XX | Non-controlling interests | 262,926 | 265,582 | 303,320 |
3XXX | Total equity | 12,074,158 | 11,852,497 | 11,688,945 |
3X2X | Total liabilities and equity | 23,813,014 | 21,864,044 | 24,860,919 |
3998 | Equivalent issue shares of advance receipts for ordinary share | 0 | 0 | 336,400 |
3999 | Number of shares in entity held by entity and by its subsidiaries | 7,317,397 | 7,317,397 | 7,317,397 |
Unit: NT$ thousands EPS Unit: NT$ | ||||
Statement of Comprehensive Income | ||||
Code | Accounting Title | 2026/1/1To3/31 | 2025/1/1To3/31 | |
Operating revenue | ||||
4000 | Total operating revenue | 6,310,208 | 7,034,915 | |
Operating costs | ||||
5000 | Total operating costs | 4,795,050 | 5,442,076 | |
5900 | Gross profit (loss) from operations | 1,515,158 | 1,592,839 | |
5950 | Gross profit (loss) from operations | 1,515,158 | 1,592,839 | |
Operating expenses | ||||
6100 | Selling expenses | 660,633 | 670,307 | |
6200 | Administrative expenses | 259,809 | 257,491 | |
6300 | Research and development expenses | 477,171 | 495,813 | |
6450 | Impairment loss (impairment gain and reversal of impairment loss) determined in accordance with IFRS 9 | 2,285 | 16,168 | |
6000 | Total operating expenses | 1,399,898 | 1,439,779 | |
6900 | Net operating income (loss) | 115,260 | 153,060 | |
Non-operating income and expenses | ||||
Interest income | ||||
7100 | Total interest income | 19,491 | 33,253 | |
Other income | ||||
7010 | Total other income | 5,263 | 6,145 | |
Other gains and losses | ||||
7230 | Foreign exchange gains | 0 | 216,684 | |
7590 | Miscellaneous disbursements | (45,037) | 40,420 | |
7630 | Foreign exchange losses | 52,522 | 0 | |
7020 | Other gains and losses, net | (7,485) | 176,264 | |
Finance costs | ||||
7510 | Interest expense | 18,589 | 17,570 | |
7050 | Finance costs, net | 18,589 | 17,570 | |
Share of profit (loss) of associates and joint ventures accounted for using equity method | ||||
7060 | Share of profit (loss) of associates and joint ventures accounted for using equity method, net | (1,469) | (1,975) | |
7000 | Total non-operating income and expenses | (2,789) | 196,117 | |
7900 | Profit (loss) from continuing operations before tax | 112,471 | 349,177 | |
Tax expense (income) | ||||
7950 | Total tax expense (income) | (4,740) | 60,143 | |
8000 | Profit (loss) from continuing operations | 117,211 | 289,034 | |
8200 | Profit (loss) | 117,211 | 289,034 | |
Other comprehensive income | ||||
Components of other comprehensive income that will be reclassified to profit or loss | ||||
8361 | Exchange differences on translation | 118,657 | 96,285 | |
8399 | Income tax related to components of other comprehensive income that will be reclassified to profit or loss | 23,832 | 19,227 | |
8360 | Components of other comprehensive income that will be reclassified to profit or loss | 94,825 | 77,058 | |
8300 | Total other comprehensive income | 94,825 | 77,058 | |
8500 | Total comprehensive income | 212,036 | 366,092 | |
Profit (loss), attributable to: | ||||
8610 | Profit (loss), attributable to owners of parent | 117,068 | 281,250 | |
8620 | Profit (loss), attributable to non-controlling interests | 143 | 7,784 | |
Comprehensive income attributable to: | ||||
8710 | Comprehensive income, attributable to owners of parent | 211,583 | 356,286 | |
8720 | Comprehensive income, attributable to non-controlling interests | 453 | 9,806 | |
Basic earnings per share | ||||
9750 | Total basic earnings per share | 0.29 | 0.70 | |
Diluted earnings per share | ||||
9850 | Total diluted earnings per share | 0.29 | 0.69 | |
Unit: NT$ thousands | ||||
Statements of Cash Flows | ||||
Code | Accounting Title | 2026/1/1To3/31 | 2025/1/1To3/31 | |
Cash flows from (used in) operating activities, indirect method | ||||
A00010 | Profit (loss) from continuing operations before tax | 112,471 | 349,177 | |
A10000 | Profit (loss) before tax | 112,471 | 349,177 | |
Adjustments | ||||
Adjustments to reconcile profit (loss) | ||||
A20100 | Depreciation expense | 85,926 | 86,606 | |
A20200 | Amortization expense | 30,664 | 35,260 | |
A20300 | Expected credit loss (gain) / Provision (reversal of provision) for bad debt expense | 2,285 | 16,168 | |
A20400 | Net loss (gain) on financial assets or liabilities at fair value through profit or loss | (44,128) | 34,248 | |
A20900 | Interest expense | 18,589 | 17,570 | |
A21200 | Interest income | (19,491) | (33,253) | |
A21300 | Dividend income | (1,605) | (970) | |
A21900 | Share-based payments | 6,195 | 0 | |
A22300 | Share of loss (profit) of associates and joint ventures accounted for using equity method | 1,469 | 1,975 | |
A22500 | Loss (gain) on disposal of property, plan and equipment | (102) | 256 | |
A29900 | Other adjustments to reconcile profit (loss) | 238,525 | (134,503) | |
A20010 | Total adjustments to reconcile profit (loss) | 318,327 | 23,357 | |
Changes in operating assets and liabilities | ||||
Changes in operating assets | ||||
A31115 | Decrease (increase) in financial assets at fair value through profit or loss, mandatorily measured at fair value | 23,744 | 2,625 | |
A31150 | Decrease (increase) in accounts receivable | (547,319) | (1,146,774) | |
A31190 | Decrease (increase) in other receivable due from related parties | 16 | 480 | |
A31200 | Decrease (increase) in inventories | (1,565,061) | (386,243) | |
A31990 | Decrease (increase) in other operating assets | (210,498) | (18,683) | |
A31000 | Total changes in operating assets | (2,299,118) | (1,548,595) | |
Changes in operating liabilities | ||||
A32150 | Increase (decrease) in accounts payable | 1,580,015 | 816,569 | |
A32190 | Increase (decrease) in other payable to related parties | 0 | (954) | |
A32240 | Increase (decrease) in net defined benefit liability | (523) | (531) | |
A32990 | Increase (decrease) in other operating liabilities | (168,660) | (578,543) | |
A32000 | Total changes in operating liabilities | 1,410,832 | 236,541 | |
A30000 | Total changes in operating assets and liabilities | (888,286) | (1,312,054) | |
A20000 | Total adjustments | (569,959) | (1,288,697) | |
A33000 | Cash inflow (outflow) generated from operations | (457,488) | (939,520) | |
A33100 | Interest received | 21,343 | 32,439 | |
A33200 | Dividends received | 460 | 2,013 | |
A33300 | Interest paid | (11,565) | (11,374) | |
A33500 | Income taxes refund (paid) | (37,506) | (19,253) | |
AAAA | Net cash flows from (used in) operating activities | (484,756) | (935,695) | |
Cash flows from (used in) investing activities | ||||
B00040 | Acquisition of financial assets at amortised cost | (15,930) | (9,811) | |
B00050 | Proceeds from disposal of financial assets at amortised cost | 0 | 90,592 | |
B00060 | Proceeds from repayments of financial assets at amortised cost | 5,000 | 0 | |
B00200 | Proceeds from disposal of financial assets at fair value through profit or loss | 70,029 | 10,085 | |
B02700 | Acquisition of property, plant and equipment | (137,630) | (58,231) | |
B02800 | Proceeds from disposal of property, plant and equipment | 119 | 1,355 | |
B03700 | Increase in refundable deposits | (32,920) | (40,232) | |
B04500 | Acquisition of intangible assets | (1,801) | (1,994) | |
B06700 | Increase in other non-current assets | (2,224) | (3,629) | |
BBBB | Net cash flows from (used in) investing activities | (115,357) | (11,865) | |
Cash flows from (used in) financing activities | ||||
C00100 | Increase in short-term loans | 5,431,555 | 4,930,004 | |
C00200 | Decrease in short-term loans | (5,228,593) | (3,474,126) | |
C03000 | Increase in guarantee deposits received | 2,213 | 15 | |
C04020 | Payments of lease liabilities | (11,166) | (11,520) | |
C04800 | Exercise of employee share options | 0 | 26,334 | |
C05800 | Change in non-controlling interests | (3,203) | (389) | |
CCCC | Net cash flows from (used in) financing activities | 190,806 | 1,470,318 | |
DDDD | Effect of exchange rate changes on cash and cash equivalents | 103,760 | 98,349 | |
EEEE | Net increase (decrease) in cash and cash equivalents | (305,547) | 621,107 |
E00100 | Cash and cash equivalents at beginning of period | 3,178,855 | 3,241,996 |
E00200 | Cash and cash equivalents at end of period | 2,873,308 | 3,863,103 |
E00210 | Cash and cash equivalents reported in the statement of financial position | 2,873,308 | 3,863,103 |
Statements of Change in Equity | ||||||||||||||||
3110 | 3100 | 3200 | 3310 | 3320 | 3350 | 3300 | 3410 | 3420 | 3490 | 3400 | 3500 | 31XX | 36XX | 3XXX | ||
Ordinary share | Total share capital | Capital surplus | Legal reserve | Special reserve | Unappropriated retained earnings (accumulated deficit) | Total retained earnings | Exchange differences on translation of foreign financial statements | Unrealised gains (losses) on financial assets measured at fair value through other comprehensive income | Others | Total other equity interest | Treasury shares | Total equity attributable to owners of parent | Non-controlling interests | Total equity | ||
A1 | Equity at beginning of period | 4,154,450 | 4,154,450 | 3,715,272 | 712,550 | 386,169 | 3,176,766 | 4,275,485 | (349,342) | (45,681) | (66,719) | (461,742) | (96,550) | 11,586,915 | 265,582 | 11,852,497 |
C7 | Changes in equity of associates and joint ventures accounted for using equity method | 6,633 | 6,633 | 6,633 | ||||||||||||
D1 | Profit (loss) | 117,068 | 117,068 | 117,068 | 143 | 117,211 | ||||||||||
D3 | Other comprehensive income | 94,515 | 94,515 | 94,515 | 310 | 94,825 | ||||||||||
D5 | Total comprehensive income | 117,068 | 117,068 | 94,515 | 94,515 | 211,583 | 453 | 212,036 | ||||||||
M7 | Changes in ownership interests in subsidiaries | (21) | (21) | 21 | 0 | |||||||||||
N1 | Share-based payments | 6,122 | 6,122 | 6,122 | 73 | 6,195 | ||||||||||
O1 | Changes in non-controlling interests | (3,203) | (3,203) | |||||||||||||
Y1 | Total increase (decrease) in equity | 6,612 | 117,068 | 117,068 | 94,515 | 6,122 | 100,637 | 224,317 | (2,656) | 221,661 | ||||||
Z1 | Equity at end of period | 4,154,450 | 4,154,450 | 3,721,884 | 712,550 | 386,169 | 3,293,834 | 4,392,553 | (254,827) | (45,681) | (60,597) | (361,105) | (96,550) | 11,811,232 | 262,926 | 12,074,158 |
Unit: NT$ thousands
Unit: NT$ thousands
Last year's Statements of Change in Equity | ||||||||||||||||
3110 | 3140 | 3100 | 3200 | 3310 | 3320 | 3350 | 3300 | 3410 | 3420 | 3400 | 3500 | 31XX | 36XX | 3XXX | ||
Ordinary share | Advance receipts for share capital | Total share capital | Capital surplus | Legal reserve | Special reserve | Unappropriated retained earnings (accumulated deficit) | Total retained earnings | Exchange differences on translation of foreign financial statements | Unrealised gains (losses) on financial assets measured at fair value through other comprehensive income | Total other equity interest | Treasury shares | Total equity attributable to owners of parent | Non-controlling interests | Total equity | ||
A1 | Equity at beginning of period | 4,113,420 | 1,755 | 4,115,175 | 3,640,792 | 653,262 | 480,228 | 2,628,374 | 3,761,864 | (327,451) | (58,719) | (386,170) | (96,550) | 11,035,111 | 261,797 | 11,296,908 |
D1 | Profit (loss) | 281,250 | 281,250 | 281,250 | 7,784 | 289,034 | ||||||||||
D3 | Other comprehensive income | 75,036 | 75,036 | 75,036 | 2,022 | 77,058 | ||||||||||
D5 | Total comprehensive income | 281,250 | 281,250 | 75,036 | 75,036 | 356,286 | 9,806 | 366,092 | ||||||||
M7 | Changes in ownership interests in subsidiaries | (9,274) | (9,274) | (9,274) | 9,274 | 0 | ||||||||||
N1 | Share-based payments | 1,755 | 1,609 | 3,364 | 138 | 3,502 | 22,832 | 26,334 | ||||||||
O1 | Changes in non-controlling interests | (389) | (389) | |||||||||||||
Y1 | Total increase (decrease) in equity | 1,755 | 1,609 | 3,364 | 138 | 271,976 | 271,976 | 75,036 | 75,036 | 350,514 | 41,523 | 392,037 | ||||
Z1 | Equity at end of period | 4,115,175 | 3,364 | 4,118,539 | 3,640,930 | 653,262 | 480,228 | 2,900,350 | 4,033,840 | (252,415) | (58,719) | (311,134) | (96,550) | 11,385,625 | 303,320 | 11,688,945 |