Fulgent Sun Q1 EPS Hits 6-Quarter Low at 0.89 TWD; Operations to Rise in Q2
Footwear manufacturer Fulgent Sun (钰齐-KY) reported a Q1 net profit of 178.76 million TWD with an EPS of 0.89 TWD, citing rising costs. The company expects Q1 to be the year's bottom, with recovery starting in Q2.
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- 📰 Published: April 22, 2026 at 19:04
- 🔍 Collected: April 22, 2026 at 19:32 (27 min after Published)
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TAIPEI (CNA) — Footwear manufacturer Fulgent Sun (9802) released its Q1 financial report today, showing a net profit attributable to the parent company of 178.76 million TWD and an earnings per share (EPS) of 0.89 TWD, the lowest since Q4 2024. Fulgent Sun stated that Q1 should mark the annual low, with production and sales scale expected to rise from Q2 onwards.
Fulgent Sun explained that Q1 revenue reached 3.675 billion TWD, level with the same period last year. Gross profit was 582 million TWD with an operating profit of 189 million TWD. Gross margin stood at 15.85% and operating margin at 5.13%. External factors contributing to the decline included tariffs, fluctuating raw material prices, and wage hikes. Internal factors involved fewer working days in Q1 and increased depreciation costs from new factories, which the company deemed a necessary learning phase.
The group currently produces for over 50 brands. The top 3 brands account for over 50% of orders, and the top 10 for over 80%. As of Q1, production shares were: Vietnam 68.9%, Cambodia 16.01%, China 13.6%, and Indonesia 1.49%.
Looking ahead, Fulgent Sun noted that new facilities in Vietnam and Indonesia began pilot production in late 2025. After a seasonal slowdown in hiring during Q1 due to the traditional New Year, the company will aggressively ramp up production in Q2.
Fulgent Sun explained that Q1 revenue reached 3.675 billion TWD, level with the same period last year. Gross profit was 582 million TWD with an operating profit of 189 million TWD. Gross margin stood at 15.85% and operating margin at 5.13%. External factors contributing to the decline included tariffs, fluctuating raw material prices, and wage hikes. Internal factors involved fewer working days in Q1 and increased depreciation costs from new factories, which the company deemed a necessary learning phase.
The group currently produces for over 50 brands. The top 3 brands account for over 50% of orders, and the top 10 for over 80%. As of Q1, production shares were: Vietnam 68.9%, Cambodia 16.01%, China 13.6%, and Indonesia 1.49%.
Looking ahead, Fulgent Sun noted that new facilities in Vietnam and Indonesia began pilot production in late 2025. After a seasonal slowdown in hiring during Q1 due to the traditional New Year, the company will aggressively ramp up production in Q2.