Trusval Technology Co., Ltd. 2026-09-18 Earnings Briefing

Consolidated revenue in H1 2026 was NT$3.219 billion, a substantial increase from the same period in 2025. The gross margin recovered to 23.25%, exceeding the previous period's level and indicating improved profitability. Net income attributable to owners of the parent was NT$379 million, while EPS was NT$7.70, supporting the momentum in earnings growth. The order backlog is estimated at approximately NT$23 billion, providing revenue visibility through 2028.

Small-scale projects (factory equipment systems) contributed NT$1.979 billion in H1 2026, large-scale projects (major systems and secondary equipment for large-factory utilities) contributed NT$1.167 billion, GC projects (turnkey contracting for secondary equipment and electromechanical works) contributed NT$71 million, and green process solutions contributed NT$66 million. Although large-scale GC turnkey contracts may compress the gross margin, the company explained that total gross profit is trending higher as project sizes increase.

The company is pursuing follow-on factory construction projects in the United States, Japan, Thailand, Germany, Singapore and other markets, with overseas revenue expected to account for approximately 10% of total revenue in 2026. It indicated that overseas revenue could double again in 2027. Through the spin-off and establishment of Rayon Environmental Technology, the company also shared plans to focus on zero waste, decarbonisation and the circular economy, while expanding diverse revenue sources including the construction and outsourced operation of waste treatment facilities, resource recycling and sales of recycled products.

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