CHOICE COMPANY (秋雨創新股份有限公司) (9929) 2025法說會簡報
Company Overview
Company Name: 秋雨創新股份有限公司 (Chiu Yu Innovation Co., Ltd.) (9929)
Establishment Year: 1946 (80 years of history)
Capital: NT$1.013 billion (10.13億元)
Main Businesses:
- 印刷 (Printing)
- 廣告 (Advertising)
- ESG解決方案 (ESG Solutions)
- 資安產品 (Cybersecurity Products)
About Us
秋雨創新股份有限公司, originally named "秋雨印刷股份有限公司", is Taiwan's first publicly listed printing company, established in 1946. The name was changed to its current title in 2010 to reflect its aim for transformation and innovative growth.
Major Milestones
- 1946: Established as Chiu Yu, focusing on printing.
- 1970-1990: Renamed Chiu Yu Printing Co., Ltd.; first in the printing industry to be publicly listed.
- 1991-1999: Listed on the OTC market in 1993; stock exchange in 1999.
- 2000-2019: Achieved various international quality certifications; diversified into media investment.
- 2020-2025: Developing sustainability, technology, energy, and cybersecurity services.
Financial Highlights and Key Metrics
Operating Report - Comprehensive Income Statement
Unit: NT$ millions (新台幣百萬元)
| Metric | 2025年H1 | 2024年H1 | YOY |
|---|---|---|---|
| 營業收入 (Revenue) | 316 | 328 | -4% |
| 營業毛利 (Gross Profit) | 32 | 28 | 14% ↑ |
| 營業淨利 (Operating Profit) | (8) | (13) | |
| 本期稅前淨利 (Profit Before Tax) | (22) | (6) |
Operating Report - Major Expenses
Unit: NT$ ten thousands (新台幣萬元)
| Expense Category | 2024年H1 | 2025年H1 | Change (萬) | Change (%) |
|---|---|---|---|---|
| 水電瓦斯費 (Utilities) | 300 | 216 | -84 | -28% |
| 修繕費 (Maintenance Expenses) | 167 | 65 | -102 | -61% |
| 人事費用 (Personnel Expenses) | 3,482 | 2,823 | -659 | -19% |
- Personnel Headcount:
- 2024/1: 67 people
- 2025/8: 54 people
Salary Adjustment Overview
| Metric | 2023年 | 2024年 | 2025年 |
|---|---|---|---|
| 薪資總額 (Total Salary) | 4,150,707 | 3,416,426 | 2,600,793 |
| 人數 (Number of People) | 111 | 89 | 63 |
| 平均薪資 (Average Salary) | 37,394 | 38,387 | 41,282 |
| 調薪幅度 (Salary Adjustment Rate) | N/A | 2.66% | 7.54% |
Recent Performance and Results
- 2025H1 Revenue: Decreased by 4% YoY, attributed to slower demand in printing and increased competition.
- Gross Profit: Increased by 14% YoY due to new business contributions and effective cost management.
- Expense Reduction: Utilities, maintenance, and personnel expenses decreased significantly, indicating effective management.
- Employee Welfare: Base-level employee count fell from 111 in 2023 to 53 in August 2025, with average salary increasing to NT$41,282, reflecting focus on employee welfare.
Future Outlook and Guidance
- Revenue Outlook: Anticipated market stabilization in H2, with new products enhancing revenue recovery and aiming for profitability.
- Talent Strategy: Aligning salary adjustments for base-level employees to NT$43,032, optimizing salary structure for sustainable operations and talent retention.
Strategic Initiatives and Plans
Future Growth Strategies
A. New Subsidiary: 旭日富能源 (SunriseRich Energy)
- Establishment Date: July 2025
- Focus: Green energy integration, specializing in solar photovoltaic investment and operation.
- Target Industries: Restaurant chains, manufacturing factories, commercial offices, life insurance.
- Service Models:
- 自建模式 (Self-Build Model)
- 旭日富出資 (SunriseRich Investment Model)
- 合約保障 (Contract Guarantee)
B. New Subsidiary: 新巨合科技 (NewFusion Tech)
- Establishment Date: July 2025
- Focus: System integration to address operational challenges in cybersecurity and energy-saving.
C. Digital Advertising Expansion
- Location: 新光三越站前店 (Shin Kong Mitsukoshi Taipei Station Store)
- Product: 2K+LED Digital Advertising
Key Charts, Graphs, and Data Points
- Financial Performance (Revenue, Gross Profit, Operating Profit)
- Major Expenses Bar Charts (Utilities, Maintenance, Personnel)
- Employee Data Bar Charts (Total Salary, Number of People, Average Salary)
- Revenue Growth Chart for Kuang Feng International Media
Products, Services & Technology
Main Businesses
- 印刷 (Printing)
- 廣告 (Advertising)
- ESG解決方案 (ESG Solutions)
- 資安產品 (Cybersecurity Products)
SunriseRich Energy
- Service Offerings: Green energy integration; solar photovoltaic services.
- Models:
- 自建模式
- 旭日富出資
- 合約保障
NewFusion Tech
- Focus: System integration; addresses operational pain points in cybersecurity and technology.
- Service Offerings:
- Cybersecurity Products
- Energy-Saving Subscriptions
- Tech Media Solutions
Digital Advertising
- Product: 2K+LED Digital Advertising
- Platform: 新光三越站前店
Affiliated Companies
A. 廣豐國際媒體 (Kuang Feng International Media)
- Business Scope: Media services; revenue expected to reach a historical high of NT$190 million.
B. 秋雨開發 (Chiu Yu Development)
- Business Scope: Real estate development; key project focused on urban renewal in Taipei.