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TCC (1101) Annual Reports

Q: Where can I download TCC (1101) annual reports?

Every financial year on this page links straight to the PDF filed with the Market Observation Post System (MOPS), Taiwan's statutory disclosure platform. 2 years are available in English.

Q: What is an investor conference?

The Taiwanese equivalent of an earnings call. Listed companies present quarterly results and file the presentation deck with MOPS, usually in both languages.

Listed on the Taiwan Stock Exchange (TWSE), classified under Basic Materials. This page collects the company's annual reports, with files served directly by the Market Observation Post System (MOPS).

english annual reports

english presentations

2025

latest year

Company profile

Sector： All Basic Materials stocks →
Listing date： 1962-02-09
Incorporated： 1950-12-29
Paid-in capital： NT$77.2bn

Website：Official site ↗

Financial history

Revenue & profit

Quarterly · In bn (TWD)

Revenue 38.1 bn Net income 3.37 bn

Taiwan filings are cumulative; figures here are restated to single quarters.

Show table：Income statement

Item	2013Q1	2013Q2	2013Q3	2013Q4	2014Q1	2014Q2	2014Q3	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Revenue	24.1	28.7	30.1	33.2	26.7	31.9	30.1	29.6	21.4	25.0	22.7	24.6	17.7	22.9	22.4	26.6	21.2	24.7	23.1	29.4	24.2	33.3	32.2	34.9	25.4	31.4	30.8	35.2	22.0	30.5	29.8	32.1	22.0	28.0	26.9	30.1	23.0	25.2	31.1	34.7	26.3	27.7	27.0	28.4	25.5	39.0	41.1	49.0	35.0	35.4	39.1	40.4	33.2	38.1
Gross profit	3.12	5.62	7.05	7.02	4.86	7.14	6.67	6.19	2.86	3.92	3.31	4.44	1.59	5.06	4.96	6.37	3.00	5.27	4.26	6.39	5.79	10.3	8.61	8.93	6.49	9.32	9.72	10.4	5.78	10.9	10.6	10.4	5.52	8.61	5.18	7.34	2.00	0.11	2.29	5.18	2.47	5.98	5.77	6.30	3.89	7.46	9.97	11.4	5.89	5.35	8.84	7.47	6.21	6.78
Operating income	2.03	4.59	5.91	5.25	3.68	5.94	5.54	4.69	1.69	2.92	2.00	3.07	0.48	3.77	3.78	5.00	1.94	4.06	3.25	4.71	4.65	8.98	7.35	7.20	5.03	7.74	8.12	9.26	4.46	9.32	9.05	8.51	4.21	7.04	3.86	4.68	0.21	-2.01	0.63	2.33	0.17	3.37	3.06	3.43	1.20	4.33	6.27	5.33	2.30	1.11	5.14	1.52	2.79	2.38
Pre-tax income	2.34	4.61	6.52	5.14	3.55	6.29	6.10	5.27	1.47	3.24	1.17	2.78	0.28	3.47	4.03	3.74	1.68	4.08	3.47	4.60	4.62	9.82	8.34	7.77	5.60	9.33	8.92	8.77	4.73	10.8	10.7	9.14	4.86	9.80	4.69	6.73	1.17	-0.43	2.10	3.81	1.48	5.78	3.28	3.82	3.35	5.46	6.51	7.51	1.89	1.18	-10.1	-2.38	2.13	4.50
Net income	2.00	3.80	5.34	3.97	2.79	4.83	4.93	4.03	0.97	2.73	0.99	2.23	0.09	2.71	3.28	2.76	1.16	3.07	2.69	3.40	2.87	7.71	6.46	5.61	4.23	7.63	7.04	6.55	3.48	8.64	8.58	7.29	3.73	8.27	4.24	4.96	0.86	-0.94	1.64	2.60	1.01	4.21	2.29	2.50	2.24	3.51	4.62	5.26	0.77	0.73	-11.8	-1.58	1.20	3.37

Balance sheet

Quarterly · In bn (TWD)

Total assets 596 bn Total liabilities 297 bn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2013Q1	2013Q2	2013Q3	2013Q4	2014Q1	2014Q2	2014Q3	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Current assets	77.3	77.1	77.2	87.8	92.1	89.2	89.5	96.6	92.5	95.6	90.8	90.6	78.5	72.8	74.2	77.9	76.6	79.3	85.3	92.7	75.3	101	103	110	121	124	113	118	98.1	125	115	124	131	134	135	169	181	182	179	176	165	154	163	153	176	172	171	173	191	166	178	178	185	195
Total assets	273	274	272	283	286	281	283	293	290	300	297	293	279	269	265	267	260	262	269	273	283	310	308	344	366	373	358	367	359	385	379	390	390	388	401	442	453	452	459	461	462	456	473	469	568	584	586	593	623	567	581	589	598	596
Current liabilities	65.9	69.0	73.7	70.4	74.4	81.2	78.9	68.6	69.6	78.9	70.8	68.1	64.8	58.9	62.0	55.1	55.8	63.8	65.3	65.2	53.4	65.8	62.8	64.5	76.9	82.2	69.7	66.5	64.2	85.6	70.4	72.1	74.7	71.3	73.5	88.7	110	86.9	76.5	75.2	74.3	91.5	94.3	72.6	83.6	92.8	85.9	86.4	113	82.9	94.1	86.0	82.5	109
Total liabilities	127	134	127	129	128	133	129	131	128	149	139	138	124	122	120	120	112	117	116	120	117	144	123	147	155	175	160	159	152	188	172	171	164	157	180	216	217	233	237	223	222	222	228	216	272	286	283	286	306	290	301	296	293	297
Equity	145	139	145	154	158	148	153	162	162	151	158	155	155	147	145	147	148	145	153	153	166	166	186	197	210	198	198	208	207	196	208	219	226	231	221	226	236	219	222	238	240	235	245	254	296	297	303	308	317	277	281	293	305	299

Cash flow

Quarterly · In bn (TWD)

Operating 4.55 bn Investing -0.26 bn Financing -7.74 bn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2013Q1	2013Q2	2013Q3	2013Q4	2014Q1	2014Q2	2014Q3	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Operating	2.27	6.03	5.17	8.50	6.90	4.45	3.70	4.94	5.65	5.57	5.51	5.02	5.61	4.16	4.14	4.84	1.41	3.21	2.47	5.22	2.23	8.45	3.81	7.66	4.90	8.34	4.45	11.2	7.61	10.8	1.82	11.0	7.12	5.24	0.03	6.58	2.27	-0.28	1.15	3.03	7.96	5.43	6.56	13.8	4.59	5.75	4.15	17.3	6.83	4.81	7.28	14.3	3.36	4.55
Investing	1.31	-1.62	1.45	-2.38	-0.41	-0.05	0.23	-2.88	-1.50	-4.71	-2.24	0.62	-2.38	0.67	1.97	-0.2	0.31	0.4	0.31	0.04	-2.77	1.00	-1.35	-32.5	-4.31	-4.70	-1.76	-0.35	-23.8	-4.12	1.18	-3.21	5.29	2.52	-12.7	-8.38	0.68	-1.34	-10.4	-5.51	-18.3	-19.0	5.86	-11.3	-11.6	-12.5	-3.72	-8.83	-13.2	-2.28	3.55	-1.67	4.03	-0.26
Financing	-10.6	-2.94	-7.12	-0.1	-2.44	-4.52	-5.60	0.84	-3.24	4.42	-4.72	-1.50	-10.3	-10.1	-4.55	-4.02	-3.77	-3.30	-2.05	-5.77	-1.97	12.7	-4.78	30.3	7.75	1.06	-16.5	-3.95	-3.06	18.7	-17.9	-1.54	-1.79	-2.17	5.28	33.1	1.87	4.86	1.73	-2.43	-6.85	-4.91	5.08	-5.82	22.3	2.04	-4.05	-6.44	17.9	-15.7	3.45	-11.1	-0.89	-7.74
Cash at period end	19.0	20.2	19.1	25.7	29.3	29.2	27.9	30.5	31.4	35.9	35.9	39.0	31.8	26.2	27.2	28.2	25.0	25.5	26.6	26.3	24.2	46.0	43.0	48.5	57.5	62.0	47.1	53.6	34.0	59.0	44.3	51.4	62.0	67.1	60.0	91.1	98.0	101	95.4	88.8	71.0	52.7	72.5	66.4	83.2	79.3	74.4	77.8	89.7	72.3	87.3	90.2	97.0	93.3

Profitability

Quarterly · %

Gross margin 17.8% Operating margin 6.2% Net margin 8.8%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2013Q1	2013Q2	2013Q3	2013Q4	2014Q1	2014Q2	2014Q3	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
Gross margin	12.9%	19.6%	23.4%	21.1%	18.2%	22.4%	22.2%	20.9%	13.3%	15.7%	14.6%	18.1%	8.9%	22.1%	22.2%	24.0%	14.2%	21.3%	18.5%	21.8%	23.9%	30.8%	26.8%	25.6%	25.6%	29.7%	31.5%	29.5%	26.3%	35.7%	35.4%	32.3%	25.1%	30.8%	19.3%	24.4%	8.7%	0.4%	7.4%	14.9%	9.4%	21.6%	21.4%	22.2%	15.2%	19.1%	24.3%	23.3%	16.9%	15.1%	22.6%	18.5%	18.7%	17.8%
Operating margin	8.4%	16.0%	19.6%	15.8%	13.8%	18.6%	18.4%	15.8%	7.9%	11.7%	8.8%	12.5%	2.7%	16.4%	16.9%	18.8%	9.2%	16.4%	14.1%	16.1%	19.2%	26.9%	22.9%	20.6%	19.9%	24.7%	26.3%	26.3%	20.3%	30.6%	30.4%	26.5%	19.1%	25.2%	14.3%	15.5%	0.9%	-8.0%	2.0%	6.7%	0.6%	12.2%	11.3%	12.1%	4.7%	11.1%	15.3%	10.9%	6.6%	3.1%	13.2%	3.8%	8.4%	6.2%
Net margin	8.3%	13.3%	17.8%	12.0%	10.4%	15.2%	16.4%	13.6%	4.5%	10.9%	4.4%	9.1%	0.5%	11.8%	14.7%	10.4%	5.5%	12.4%	11.7%	11.6%	11.8%	23.1%	20.1%	16.1%	16.7%	24.3%	22.8%	18.6%	15.8%	28.4%	28.8%	22.7%	16.9%	29.6%	15.8%	16.5%	3.7%	-3.7%	5.3%	7.5%	3.8%	15.2%	8.5%	8.8%	8.8%	9.0%	11.3%	10.7%	2.2%	2.1%	-30.2%	-3.9%	3.6%	8.8%

Returns & leverage

Quarterly · %

ROE -3.0% ROA -1.5% Debt ratio 49.8%

ROE / ROA = trailing four-quarter net income ÷ average equity / total assets (annual mode: the year’s net income ÷ average of opening and closing). Not computed when the denominator is zero or negative.

Show table：Returns & leverage

Item	2013Q1	2013Q2	2013Q3	2013Q4	2014Q1	2014Q2	2014Q3	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
ROE	—	—	—	9.8%	10.5%	11.8%	11.1%	10.5%	9.2%	8.5%	5.6%	4.4%	3.8%	4.0%	5.5%	5.8%	6.6%	7.0%	6.5%	6.9%	7.7%	10.7%	12.1%	12.9%	12.8%	13.1%	12.8%	12.5%	11.8%	13.0%	13.4%	13.1%	13.1%	13.1%	11.0%	9.5%	7.9%	4.1%	2.9%	1.8%	1.8%	4.2%	4.3%	4.1%	4.2%	4.0%	4.7%	5.6%	4.6%	4.0%	-1.7%	-4.0%	-3.7%	-3.0%
ROA	—	—	—	5.3%	5.7%	6.1%	6.0%	5.8%	5.1%	4.4%	3.0%	2.4%	2.1%	2.1%	3.0%	3.2%	3.7%	3.9%	3.6%	3.8%	4.4%	5.8%	7.1%	7.3%	7.4%	7.0%	7.3%	7.2%	6.8%	6.8%	7.4%	7.4%	7.5%	7.2%	6.0%	5.1%	4.3%	2.2%	1.5%	0.9%	0.9%	2.1%	2.2%	2.1%	2.2%	2.0%	2.4%	2.9%	2.4%	2.0%	-0.9%	-2.0%	-1.9%	-1.5%
Debt ratio	46.7%	49.1%	46.6%	45.7%	44.6%	47.4%	45.7%	44.7%	44.0%	49.7%	46.9%	47.0%	44.5%	45.4%	45.1%	44.8%	43.1%	44.5%	43.2%	44.0%	41.5%	46.4%	39.8%	42.6%	42.5%	46.9%	44.6%	43.3%	42.3%	48.9%	45.3%	43.8%	42.2%	40.6%	45.0%	48.9%	47.9%	51.6%	51.7%	48.3%	48.0%	48.6%	48.3%	45.9%	47.9%	49.1%	48.3%	48.1%	49.1%	51.2%	51.7%	50.3%	49.0%	49.8%

EPS

Quarterly · NT$

EPS NT$0.28

Show table：EPS

Item	2013Q1	2013Q2	2013Q3	2013Q4	2014Q1	2014Q2	2014Q3	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2
EPS（NT$）	0.38	0.70	0.98	0.66	0.50	0.86	0.87	0.70	0.22	0.61	0.25	0.48	0.06	0.54	0.63	0.49	0.23	0.58	0.53	0.69	0.69	1.45	1.21	1.02	0.77	1.42	1.05	1.19	0.55	1.39	1.21	1.17	0.57	1.25	0.59	0.89	0.20	-0.04	0.22	0.36	0.20	0.44	0.18	0.24	0.26	0.25	0.42	0.52	0.07	0.00	-1.35	-0.32	0.10	0.28

Revenue & profit

Year-to-date · In bn (TWD)

Revenue 71.3 bn Net income 4.57 bn

Year-to-date = summed from the first quarter of the fiscal year; balance-sheet items are period-end balances.

Balance sheet

Year-to-date · In bn (TWD)

Total assets 596 bn Total liabilities 297 bn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Cash flow

Year-to-date · In bn (TWD)

Operating 7.90 bn Investing 3.77 bn Financing -8.63 bn

Positive = cash in, negative = cash out.

Profitability

Year-to-date · %

Gross margin 18.2% Operating margin 7.3% Net margin 6.4%

Gross, operating and net margin = the respective profit ÷ revenue.

Returns & leverage

Year-to-date · %

ROE -3.0% ROA -1.5% Debt ratio 49.8%

EPS

Year-to-date · NT$

EPS NT$0.38

Revenue & profit

Annual · In bn (TWD)

Revenue 150 bn Net income -11.9 bn

Annual = sum of four quarters of a complete fiscal year (incomplete years are omitted); balance-sheet items are year-end balances.

Show table：Income statement

Item	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	116	118	93.7	89.6	98.3	125	123	114	107	114	109	155	150
Gross profit	22.8	24.9	14.5	18.0	18.9	33.6	35.9	37.6	26.6	9.58	20.5	32.7	27.6
Operating income	17.8	19.9	9.67	13.0	14.0	28.2	30.2	31.3	19.8	1.16	10.0	17.1	10.1
Pre-tax income	18.6	21.2	8.67	11.5	13.8	30.5	32.6	35.4	26.1	6.65	14.4	22.8	-9.43
Net income	15.1	16.6	6.93	8.84	10.3	22.6	25.5	28.0	21.2	4.16	10.0	15.6	-11.9

Balance sheet

Annual · In bn (TWD)

Total assets 589 bn Total liabilities 296 bn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Current assets	87.8	96.6	90.6	77.9	92.7	110	118	124	169	176	153	173	178
Total assets	283	293	293	267	273	344	367	390	442	461	469	593	589
Current liabilities	70.4	68.6	68.1	55.1	65.2	64.5	66.5	72.1	88.7	75.2	72.6	86.4	86.0
Total liabilities	129	131	138	120	120	147	159	171	216	223	216	286	296
Equity	154	162	155	147	153	197	208	219	226	238	254	308	293

Cash flow

Annual · In bn (TWD)

Operating 33.2 bn Investing -13.6 bn Financing -5.46 bn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Operating	22.0	20.0	21.8	18.8	12.3	22.1	28.9	31.3	19.0	6.18	33.8	31.8	33.2
Investing	-1.25	-3.10	-7.83	0.05	1.06	-35.6	-11.1	-29.9	-13.3	-16.6	-42.9	-36.7	-13.6
Financing	-20.8	-11.7	-5.05	-28.9	-14.9	36.2	-11.6	-3.78	34.4	6.04	-12.5	13.8	-5.46
Cash at period end	25.7	30.5	39.0	28.2	26.3	48.5	53.6	51.4	91.1	88.8	66.4	77.8	90.2

Profitability

Annual · %

Gross margin 18.4% Operating margin 6.7% Net margin -7.9%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Gross margin	19.7%	21.0%	15.5%	20.1%	19.2%	27.0%	29.3%	32.9%	24.9%	8.4%	18.8%	21.2%	18.4%
Operating margin	15.3%	16.8%	10.3%	14.6%	14.2%	22.6%	24.6%	27.4%	18.5%	1.0%	9.2%	11.1%	6.7%
Net margin	13.0%	14.0%	7.4%	9.9%	10.5%	18.2%	20.7%	24.5%	19.8%	3.6%	9.2%	10.1%	-7.9%

Returns & leverage

Annual · %

ROE -4.0% ROA -2.0% Debt ratio 50.3%

Show table：Returns & leverage

Item	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
ROE	9.8%	10.5%	4.4%	5.8%	6.9%	12.9%	12.5%	13.1%	9.5%	1.8%	4.1%	5.6%	-4.0%
ROA	5.3%	5.8%	2.4%	3.2%	3.8%	7.3%	7.2%	7.4%	5.1%	0.9%	2.1%	2.9%	-2.0%
Debt ratio	45.7%	44.7%	47.0%	44.8%	44.0%	42.6%	43.3%	43.8%	48.9%	48.3%	45.9%	48.1%	50.3%

EPS

Annual · NT$

EPS NT$-1.60

Show table：EPS

Item	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
EPS（NT$）	2.72	2.93	1.56	1.72	2.03	4.37	4.43	4.32	3.30	0.74	1.06	1.45	-1.60

Source: Taiwan MOPS financial statements

TCC annual reports

	English	Chinese
2025 (ROC 114)	PDF	PDF
2024 (ROC 113)	PDF	PDF

About TCC filings

Where can I download TCC (1101) annual reports?

Every financial year in the table above links straight to the PDF filed with the Market Observation Post System (MOPS), Taiwan's statutory disclosure platform. 2 years are available in English, within a range covering 2024 to 2025.

Why are some years Chinese only?

Filing an English annual report is only mandatory for larger Taiwanese issuers; smaller companies and those on the Emerging Stock Board file in Chinese. Where no English edition exists this site links the Chinese PDF rather than leaving the year blank, so you can still reach the document.

What is an investor conference (法人說明會)?

It is the Taiwanese equivalent of an earnings call or analyst briefing. Listed companies present quarterly results and outlook, and file the presentation deck with MOPS — usually in both Chinese and English. Many also publish a webcast recording.

How does Taiwan's reporting calendar work?

Taiwanese issuers file quarterly financial reports plus an annual report, and publish monthly revenue figures — a disclosure cadence that is more frequent than Hong Kong or Singapore. Financial years are numbered using the ROC calendar (ROC 114 = 2025); this site shows both.

Source: Market Observation Post System (MOPS), Taiwan. All PDF links point to the original files; nothing is re-hosted here.
Browse all Taiwan listed companies, or read this page in Chinese — the Chinese edition also carries the letter to shareholders and the revenue breakdown.