Chicony Electronics (2385) Q4 2025 earnings summary

Executive summary

• 4Q25 net sales reached NT$23,077M, down 12% year-over-year and 7% sequentially.

• 2025 full-year net sales were NT$95,661M, a 5.7% decrease from 2024.

• Net income for 4Q25 was NT$754M, down 68.7% year-over-year; 2025 net income was NT$6,585M, down 27.2% year-over-year.

• One-time Dongguang capacity consolidation expense excluded from adjusted results.

Financial highlights

• 4Q25 gross margin was 16.8%, operating margin 6.7%, and net margin 3.3%.

• 2025 gross margin was 18.0%, operating margin 8.3%, and net margin 6.9%.

• After-tax EPS for 4Q25 was NT$1.04; for 2025, NT$9.05.

• 4Q25 profit before tax dropped 67% year-over-year; 2025 profit before tax fell 31.4% year-over-year.

Outlook and guidance

• Revenue CAGR from 2016 to 2025 was 2.4%, indicating steady long-term growth.

• February 2026 revenue was NT$6.4B; YTD revenue reached NT$14.1B.