Slides
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2025/11/12 Q3’25 Results Analyst Meeting
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AVC Confidential 2 ➢ Disclaimer The above statements that pertain to future projections constitute the expectations, opinions, outlooks, or predictions of our company and its affiliates based on information available at the time the statements were made. Such statements may be affected by known and unknown risks and inherent uncertainties, the existence or emergence of facts or factors that differ from the assumptions, suppositions, or judgments of the Company, or other factors. Consequently, there may be significant discrepancies between actual results pertaining to the Company's future earnings, management results, financial conditions, and other matters as explicitly or implicitly referred to in the statements and the content of such statements. The presentation is run exclusively for the purpose of providing information and not for the purpose of soliciting investments or recommending the buying or selling of specific shares or products. Company makes no warranty concerning the accuracy or completeness of the information and will not be liable for any damages arising out of use of the Information thereof.
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AVC Confidential 3 ◆ Briefing Statements of Comprehensive Income ＊All the figures are reviewed by CPA; Currency is shown as NTD in Million Items 2025.Q3 2025.Q2 2024.Q3 Sales Revenue 38,937 29,595 9,342 31.57% 19,065 19,872 104.23% Gross Margin 10,172 7,224 2,948 40.81% 4,480 5,692 127.05% Gross Margin % 26.12% 24.41% 1.71% 7.01% 23.50% 2.62% 11.15% Operating Income 8,085 5,095 2,990 58.68% 3,108 4,977 160.14% Operating Income % 20.77% 17.21% 3.56% 20.69% 16.30% 4.47% 27.42% Pretax Income 8,217 5,896 2,321 39.37% 3,428 4,789 139.70% Net Income-Parent Compay 5,339 3,997 1,342 33.58% 2,324 3,015 129.73% Net Income % 13.71% 13.51% 0.20% 1.48% 12.19% 1.52% 12.47% EPS(NT in Dollar) 13.67 10.30 3.37 32.72% 6.02 7.65 127.08% QoQ YoY
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AVC Confidential 4 ◆ Briefing Statements of Comprehensive Income ＊All the figures are reviewed by CPA; Currency is shown as NTD in Million Items Q1~Q3'2025 Q1~Q3'2024 Sales Revenue 91,864 50,857 41,007 80.63% Gross Margin 23,424 11,647 11,777 101.12% Gross Margin % 25.50% 22.90% 2.60% 11.35% Operating Income 17,541 7,470 10,071 134.82% Operating Income % 19.09% 14.69% 4.40% 29.95% Pretax Income 18,733 8,692 10,041 115.52% Net Income-Parent Compay 12,550 5,835 6,715 115.08% Net Income % 13.66% 11.47% 2.19% 19.09% EPS(NT in Dollar) 32.25 15.18 17.07 112.45% YoY
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AVC Confidential 5 ◆ AVC Business Update
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AVC Confidential 6 ◆ AVC Business Update
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AVC Confidential 7 ◆ AVC 營收組合 (Revenue)
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AVC Confidential 8 ◆ 主 營 業 務(散熱/機箱)產業組合 Thermal Products & Mechanical Revenue
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AVC Confidential 9 ◆ AVC營收組合(Revenue)
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AVC Confidential 10 ◆ 主 營 業 務(散熱/機箱)產業組合 Thermal Products & Mechanical Revenue
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AVC Confidential 11 ◆ AVC Quarter Y2025 vs Y2024
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AVC Confidential 12 ◆ 主 營 業 務(散熱/機箱) 季 度 產 業 組 合 Thermal Products & Mechanical Y2025 vs Y2024
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AVC Confidential 13 ◆ Non-operating Breakdown ＊All the figures are reviewed by CPA; Currency is shown as NTD in Million Items 2025.Q3 2025.Q2 2024.Q3 Net Interest revenue (Expenses) (15) 34 (49) -144.12% 18 (33) -183.33% Investment Revenue (Loss) (18) (42) 24 -57.14% 26 (44) -169.23% Gain (Loss) on Disposal of Fixed Assets (65) (8) (57) 712.50% (44) (21) 47.73% Exchange Income (Loss) 49 689 (640) -92.89% (11) 60 -545.45% Impairment loss 2 (41) 43 -104.88% (38) 40 -105.26% Others 179 169 10 5.92% 369 (190) -51.49% Total 132 801 (669) -83.52% 320 (188) -58.75% QoQ YoY Items Q1~Q3'2025 Q1~Q3'2024 Net Interest revenue (Expenses) (12) 60 (72) -120.00% Investment Revenue (Loss) (105) 98 (203) -207.14% Gain (Loss) on Disposal of Fixed Assets (105) (107) 2 -1.87% Exchange Income (Loss) 808 214 594 277.57% Impairment loss (52) (38) (14) 36.84% Others 658 995 (337) -33.87% Total 1,192 1,222 (30) -2.45% YoY
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AVC Confidential 14 ◆ Briefing Consolidated B/S ＊All the figures are reviewed by CPA; Currency is shown as NTD in Million Items 2025.09.30 2025.6.30 2024.09.30 Cash and Cash in Bank 43,789 32,944 10,845 32.92% 30,013 13,776 45.90% Accounts receivable 8,735 7,770 965 12.42% 6,274 2,461 39.23% Inventory 49,040 42,305 6,735 15.92% 25,206 23,834 94.56% Current Assets 109,314 89,718 19,596 21.84% 65,940 43,374 65.78% Property, Plant and Equipment 16,407 14,211 2,196 15.45% 13,125 3,282 25.01% Non-current Asset 29,940 24,925 5,015 20.12% 22,160 7,780 35.11% Total Assets 139,254 114,643 24,611 21.47% 88,100 51,154 58.06% Short-Term Loans 16,128 13,323 2,805 21.05% 12,063 4,065 33.70% Accounts Payable 45,081 33,497 11,584 34.58% 24,633 20,448 83.01% Current Liabilities 87,502 72,627 14,875 20.48% 49,903 37,599 75.34% Long-Term Loans 5,558 3,547 2,011 56.70% 2,546 3,012 118.30% Non-current Liabilities 10,160 7,944 2,216 27.90% 7,278 2,882 39.60% Total Liabilities 97,662 80,571 17,091 21.21% 57,181 40,481 70.79% Stockholders Equities-Parent Company 36,461 29,648 6,813 22.98% 26,645 9,816 36.84% Total Equity 41,592 34,072 7,520 22.07% 30,919 10,673 34.52% The Net Asset Value of Each Share (NT in Dollar) 93.32 76.38 16.94 22.18% 68.75 24.57 35.74% QoQ YoY Key Index 2025.9.30 2025.6.30 2024.9.30 Current Ratio 124.93% 123.53% 1.40% 1.13% 132.14% -7.21% -5.46% Quick Ratio 67.67% 63.85% 3.82% 5.98% 80.42% -12.75% -15.85% Debt Ratio 70.13% 70.28% -0.15% -0.21% 64.90% 5.23% 8.06% AR turnover days 25 27 (2) -7.41% 34 (9) -26.47% Inventory turnover days 165 174 (9) -5.17% 148 17 11.49% QoQ YoY
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AVC Confidential 15 ◆ Briefing Cash Flows ＊All the figures are reviewed by CPA; Currency is shown as NTD in Million 會計科目 Q1~Q3'2025 Q1~Q3'2024 Depreciation and Amortization expense 2,332 1,780 552 31.01% Cash flows from (used in) operating activities (A) 23,159 8,961 14,198 158.44% Capital Expenditures (B) (5,524) (3,016) (2,508) 83.16% Net cash flows from (used in) investing activities (9,071) (5,327) (3,744) 70.28% Net cash flows from (used in) financing activities 1,458 (1,427) 2,885 -202.17% Cash and cash equivalents at end of period 43,789 30,013 13,776 45.90% Free cash Flow(A)-(B) 17,635 5,945 11,690 196.64% YoY
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Q & A http://www.avc.co AVC Confidential 16