We drive business transformation and deliver performance in response to shareholders' support and encouragement.
In 2025, the global petrochemical and rubber industries underwent significant structural changes amid rising trade protectionism, heightened geopolitical tensions, and a cyclical economic downturn. Despite these external pressures, TSRC demonstrated resilience through disciplined operations and a robust global presence. By optimizing resource allocation, strengthening its strategic position in Asia’s automotive materials value chain, and expanding into premium green tire materials, coupled with the successful commercialization of the new Shenhua plant, TSRC continued to enhance its production capacity and market competitiveness.
TSRC delivered stable performance during this challenging downcycle. Through focused execution and agile portfolio management, the Company navigated persistent supply–demand imbalances and intensified pricing competition faced by the Advanced Materials Business. In 2025, sales volume reached 616 thousand metric tons, an 11% increase versus 2024. Consolidated revenue totaled NTD 36,473 million, a slight decline of 2% from NTD 37,209 million in 2024. Gross profit declined by 13% to NTD 3,576 million, resulting in a gross margin of 10%. Operating profit was NTD 983 million, a 29% decrease from 2024, with an operating margin of 3%. TSRC recorded a net income of NTD 448 million and an EPS of NTD 0.54 for the year.
The Company continued advancing its ESG commitments, achieving solid annual progress in decarbonization. TSRC received recognition from leading sustainability rating institutions such as EcoVadis and expanded ISCC+ bio-material certifications across several production sites. Through close partnerships with strategic customers, TSRC accelerated commercialization in high-performance tire applications and medical solutions. In 2025, eight patents were granted to TSRC, underscoring its achievements in technology innovation and process optimization.
Looking ahead to 2026, global economic conditions remain uncertain due to ongoing geopolitical tensions, changes in tariff regimes, and shifting regional supply–demand dynamics—all contributing to volatile growth prospects. Additional capacity expansions in mainland China are expected to further pressure industry supply–demand balance. In response, TSRC will continue advancing its high-value portfolio strategy, accelerating its transition toward sustainability, strengthening operational resilience, and optimizing resource allocation to secure long-term growth and deliver sustained value creation.
Nita Ing
Chairman