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Polygreen (8423) Annual Reports

Q: Where can I download Polygreen (8423) 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 Taipei Exchange (TPEx), classified under Green Energy & Environmental. 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 Green Energy & Environmental stocks →
Listing date： 2012-03-14
Incorporated： 2009-11-03
Paid-in capital： NT$417m

Website：Official site ↗

Financial history

Revenue & profit

Quarterly · In mn (TWD)

Revenue 114 mn Net income 14.6 mn

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	86.7	85.4	80.6	81.9	77.4	80.8	82.8	68.3	74.9	72.7	69.5	66.4	56.9	62.4	50.2	59.2	61.1	72.4	75.8	70.7	86.2	79.0	80.3	82.0	79.4	86.7	83.5	81.3	66.5	58.2	78.0	80.3	83.6	67.8	43.5	74.7	74.8	80.4	83.5	82.5	72.7	90.5	82.7	78.8	87.3	91.8	102	88.8	96.0	98.5	87.1	95.4	98.6	114
Gross profit	21.9	22.6	17.4	20.8	15.6	17.9	17.5	12.8	15.8	15.1	13.7	16.1	10.1	16.6	14.6	8.90	17.0	22.1	25.5	18.7	27.7	17.6	23.8	28.5	24.0	25.2	20.5	21.9	17.4	15.0	22.7	25.2	24.0	18.0	7.61	21.6	19.4	22.6	23.4	26.1	17.4	24.3	21.6	20.1	25.6	25.3	27.1	20.5	24.7	28.0	24.0	27.5	28.8	34.2
Operating income	10.9	12.0	8.16	8.57	4.38	8.40	7.68	4.19	5.57	5.88	5.04	8.19	1.57	5.89	3.99	-2.70	7.35	11.2	14.1	8.34	17.4	4.84	13.3	16.1	11.3	11.4	7.03	7.76	4.50	2.28	10.7	14.1	9.45	4.72	-1.18	10.2	7.16	4.61	6.31	11.6	3.42	10.1	6.91	6.59	8.75	9.76	11.4	6.79	8.26	14.6	9.95	12.9	14.3	18.2
Pre-tax income	10.4	11.2	10.3	10.3	4.50	7.68	10.9	6.73	7.84	6.30	12.9	4.47	-17.2	1.65	2.26	11.5	3.87	9.29	12.3	7.36	15.0	6.66	13.2	16.6	10.3	11.6	8.63	7.52	5.39	0.84	9.91	12.5	12.0	3.61	-0.75	9.59	8.04	8.29	10.8	10.7	2.09	13.5	8.73	4.88	10.8	11.1	0.28	13.1	7.87	7.38	10.5	12.1	13.2	19.3
Net income	7.96	7.25	9.07	7.51	2.92	5.80	10.1	4.24	6.02	3.85	10.4	4.90	-17.2	0.91	1.06	9.28	3.69	8.24	10.7	5.16	13.9	5.33	8.91	15.6	7.83	9.88	8.13	4.74	3.66	1.70	7.80	7.97	8.95	2.61	-0.72	7.14	6.35	6.45	8.43	8.12	1.51	10.1	7.75	5.47	7.93	8.53	-0.94	7.85	5.85	5.14	9.26	10.2	10.8	14.6

Balance sheet

Quarterly · In mn (TWD)

Total assets 965 mn Total liabilities 347 mn

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	137	152	150	154	165	168	174	168	167	173	164	163	175	174	150	197	162	175	182	183	193	185	181	190	204	211	193	188	176	174	188	189	192	184	178	174	185	192	200	210	210	214	219	202	414	400	394	391	375	377	327	342	335	318
Total assets	422	517	517	532	585	598	618	611	610	644	636	636	627	622	588	581	538	552	562	562	571	567	557	564	578	581	561	552	536	528	538	534	529	519	513	509	520	525	530	539	537	547	712	689	897	879	884	894	904	904	897	919	934	965
Current liabilities	63.8	73.7	79.0	76.8	88.4	88.1	70.1	69.3	74.5	88.1	72.3	68.9	69.3	84.9	73.8	81.6	69.2	81.1	85.0	83.4	80.5	87.7	80.3	79.2	87.7	108	84.4	77.8	68.0	77.9	82.1	73.3	68.7	61.0	70.4	64.5	66.6	76.8	72.0	76.0	76.5	95.2	124	105	103	93.8	65.5	205	205	226	202	204	78.1	129
Total liabilities	124	222	225	232	276	293	302	297	304	350	348	339	334	342	319	310	272	277	274	265	256	256	242	232	234	250	224	212	200	206	207	193	185	175	180	170	170	177	169	170	167	184	337	314	308	296	278	290	290	324	300	299	299	347
Equity	298	295	292	300	308	305	315	314	306	294	288	297	294	279	270	271	266	275	288	297	315	311	316	332	344	331	337	339	335	322	331	341	345	344	332	339	350	348	361	369	370	363	375	375	588	583	606	604	614	580	596	620	635	618

Cash flow

Quarterly · In mn (TWD)

Operating 17.6 mn Investing -39.5 mn Financing -0.74 mn

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	3.16	5.05	29.3	15.6	11.6	-0.04	17.8	19.8	-0.02	12.1	12.7	15.6	7.71	7.05	18.6	-36.3	49.6	8.96	21.1	11.0	15.0	8.17	12.7	16.4	15.1	12.1	23.2	21.1	0.88	6.29	9.84	17.2	22.1	13.7	-6.52	12.9	10.8	16.8	10.2	14.0	-2.06	24.1	9.81	14.8	8.40	12.3	-0.18	18.8	4.84	7.96	7.79	17.2	10.8	17.6
Investing	-30.8	-87.8	-15.0	-16.9	-35.3	-18.8	-16.1	-14.9	-11.8	-40.0	-15.4	-8.24	-1.96	-3.01	-2.65	54.1	-2.19	-3.35	-7.26	-2.71	-2.04	-9.56	-2.33	-2.63	-3.90	-0.61	-4.59	-2.62	-2.66	-0.53	0.08	-0.11	-0.17	-2.03	-5.26	-6.55	-1.32	-1.69	-0.39	-4.29	-3.10	-11.4	-164	-1.00	-0.22	-0.14	-19.5	-14.2	-25.1	-15.1	-41.5	-8.55	-24.0	-39.5
Financing	2.82	92.3	-3.96	10.8	29.3	26.5	2.10	-1.25	10.6	38.2	-3.40	-0.29	-3.17	2.83	-21.6	-7.70	-40.0	-1.50	-12.2	-7.38	-7.29	-7.17	-17.2	-6.98	3.15	-4.89	-28.1	-13.2	-7.25	-5.29	-3.33	-17.5	-9.10	-4.14	-4.25	-17.6	0.34	-10.9	-8.06	3.66	-3.87	-3.77	153	-16.3	196	-33.8	-28.2	19.2	-0.53	12.2	-24.9	-0.69	-0.72	-0.74
Cash at period end	33.9	45.1	51.0	59.8	65.6	73.9	78.0	80.6	76.2	84.3	73.1	73.6	79.4	84.5	76.2	83.8	88.8	94.3	96.6	97.7	104	95.9	88.0	94.9	110	116	106	110	98.8	101	106	105	116	122	108	98.2	107	110	117	131	122	129	130	125	330	310	279	288	270	272	217	232	220	196

Profitability

Quarterly · %

Gross margin 29.9% Operating margin 15.9% Net margin 12.8%

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	25.2%	26.5%	21.6%	25.4%	20.2%	22.1%	21.1%	18.8%	21.0%	20.8%	19.7%	24.3%	17.7%	26.7%	28.9%	15.1%	27.9%	30.5%	33.7%	26.4%	32.2%	22.3%	29.7%	34.8%	30.2%	29.0%	24.6%	27.0%	26.2%	25.8%	29.1%	31.4%	28.7%	26.5%	17.5%	29.0%	25.9%	28.1%	28.0%	31.6%	23.9%	26.8%	26.1%	25.5%	29.3%	27.5%	26.7%	23.1%	25.7%	28.4%	27.6%	28.8%	29.2%	29.9%
Operating margin	12.5%	14.1%	10.1%	10.4%	5.7%	10.4%	9.3%	6.1%	7.4%	8.1%	7.2%	12.3%	2.8%	9.4%	8.0%	-4.6%	12.0%	15.4%	18.6%	11.8%	20.2%	6.1%	16.5%	19.6%	14.3%	13.2%	8.4%	9.6%	6.8%	3.9%	13.7%	17.6%	11.3%	7.0%	-2.7%	13.7%	9.6%	5.7%	7.6%	14.1%	4.7%	11.2%	8.4%	8.4%	10.0%	10.6%	11.2%	7.6%	8.6%	14.8%	11.4%	13.5%	14.6%	15.9%
Net margin	9.2%	8.5%	11.3%	9.2%	3.8%	7.2%	12.2%	6.2%	8.0%	5.3%	14.9%	7.4%	-30.3%	1.5%	2.1%	15.7%	6.0%	11.4%	14.2%	7.3%	16.1%	6.7%	11.1%	19.1%	9.9%	11.4%	9.7%	5.8%	5.5%	2.9%	10.0%	9.9%	10.7%	3.9%	-1.7%	9.6%	8.5%	8.0%	10.1%	9.8%	2.1%	11.2%	9.4%	6.9%	9.1%	9.3%	-0.9%	8.8%	6.1%	5.2%	10.6%	10.7%	10.9%	12.8%

Returns & leverage

Quarterly · %

ROE 7.5% ROA 4.8% Debt ratio 36.0%

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	—	—	—	10.6%	8.8%	8.4%	8.7%	7.5%	8.5%	8.1%	8.1%	8.2%	0.6%	-0.4%	-3.7%	-2.1%	5.3%	8.0%	11.4%	9.8%	13.1%	12.0%	11.0%	13.9%	11.4%	13.2%	12.7%	9.1%	7.8%	5.6%	5.4%	6.2%	7.8%	8.2%	5.7%	5.3%	4.4%	5.5%	8.2%	8.3%	6.8%	7.9%	7.5%	6.7%	6.5%	6.3%	4.3%	4.8%	3.5%	3.1%	4.7%	5.0%	5.7%	7.5%
ROA	—	—	—	6.0%	5.3%	4.5%	4.6%	4.0%	4.4%	3.9%	3.9%	4.0%	0.3%	-0.2%	-1.7%	-1.0%	2.6%	3.8%	5.5%	4.9%	6.9%	6.3%	6.0%	7.8%	6.6%	7.4%	7.4%	5.5%	4.7%	3.3%	3.3%	3.9%	5.0%	5.2%	3.6%	3.5%	2.9%	3.7%	5.4%	5.6%	4.6%	5.3%	4.4%	4.0%	4.4%	4.2%	2.6%	3.0%	2.4%	2.0%	3.2%	3.4%	3.9%	4.8%
Debt ratio	29.5%	43.0%	43.5%	43.7%	47.3%	49.1%	49.0%	48.6%	49.8%	54.4%	54.7%	53.3%	53.2%	55.1%	54.2%	53.4%	50.5%	50.2%	48.7%	47.1%	44.8%	45.1%	43.3%	41.2%	40.6%	43.0%	39.9%	38.5%	37.4%	39.1%	38.4%	36.1%	34.9%	33.7%	35.1%	33.4%	32.7%	33.7%	31.9%	31.6%	31.1%	33.6%	47.3%	45.5%	34.4%	33.6%	31.4%	32.4%	32.1%	35.8%	33.5%	32.5%	32.0%	36.0%

EPS

Quarterly · NT$

EPS NT$0.35

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$）	0.47	0.38	0.51	0.43	0.16	0.33	0.54	0.23	0.33	0.21	0.53	0.26	-0.91	0.04	0.08	0.48	0.19	0.42	0.52	0.26	0.69	0.27	0.38	0.74	0.37	0.47	0.33	0.22	0.17	0.07	0.33	0.35	0.39	0.11	-0.05	0.30	0.26	0.27	0.32	0.33	0.06	0.41	0.27	0.21	0.26	0.24	-0.08	0.20	0.14	0.13	0.22	0.24	0.26	0.35

Revenue & profit

Year-to-date · In mn (TWD)

Revenue 213 mn Net income 25.4 mn

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 mn (TWD)

Total assets 965 mn Total liabilities 347 mn

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

Cash flow

Year-to-date · In mn (TWD)

Operating 28.4 mn Investing -63.5 mn Financing -1.46 mn

Positive = cash in, negative = cash out.

Profitability

Year-to-date · %

Gross margin 29.6% Operating margin 15.3% Net margin 11.9%

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

Returns & leverage

Year-to-date · %

ROE 7.5% ROA 4.8% Debt ratio 36.0%

EPS

Year-to-date · NT$

EPS NT$0.61

Revenue & profit

Annual · In mn (TWD)

Revenue 377 mn Net income 30.5 mn

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	335	309	283	229	280	328	331	283	270	321	325	370	377
Gross profit	82.6	63.8	60.8	50.2	83.4	97.7	91.6	80.4	71.2	91.5	83.4	98.5	104
Operating income	39.6	24.6	24.7	8.75	41.0	51.6	37.5	31.6	23.2	29.7	27.1	36.7	45.7
Pre-tax income	42.3	29.8	31.5	-1.80	32.8	51.4	38.1	28.6	24.4	37.9	29.2	35.2	37.8
Net income	31.8	23.1	25.1	-5.99	27.8	43.8	30.6	21.1	18.0	29.3	24.8	23.4	30.5

Balance sheet

Annual · In mn (TWD)

Total assets 919 mn Total liabilities 299 mn

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	154	168	163	197	183	190	188	189	174	210	202	391	342
Total assets	532	611	636	581	562	564	552	534	509	539	689	894	919
Current liabilities	76.8	69.3	68.9	81.6	83.4	79.2	77.8	73.3	64.5	76.0	105	205	204
Total liabilities	232	297	339	310	265	232	212	193	170	170	314	290	299
Equity	300	314	297	271	297	332	339	341	339	369	375	604	620

Cash flow

Annual · In mn (TWD)

Operating 37.8 mn Investing -90.2 mn Financing -14.0 mn

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	53.1	49.2	40.4	-3.03	90.8	52.3	71.6	34.2	42.2	51.7	46.5	39.3	37.8
Investing	-150	-85.0	-75.5	46.5	-15.5	-16.6	-11.7	-3.22	-14.0	-7.70	-179	-34.1	-90.2
Financing	102	56.6	45.1	-29.6	-61.0	-38.6	-43.1	-33.4	-35.1	-15.0	130	153	-14.0
Cash at period end	59.8	80.6	73.6	83.8	97.7	94.9	110	105	98.2	131	125	288	232

Profitability

Annual · %

Gross margin 27.6% Operating margin 12.1% Net margin 8.1%

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	24.7%	20.6%	21.4%	21.9%	29.8%	29.8%	27.7%	28.4%	26.4%	28.5%	25.7%	26.6%	27.6%
Operating margin	11.8%	8.0%	8.7%	3.8%	14.6%	15.8%	11.3%	11.2%	8.6%	9.2%	8.3%	9.9%	12.1%
Net margin	9.5%	7.5%	8.9%	-2.6%	9.9%	13.4%	9.2%	7.5%	6.7%	9.1%	7.7%	6.3%	8.1%

Returns & leverage

Annual · %

ROE 5.0% ROA 3.4% Debt ratio 32.5%

Show table：Returns & leverage

Item	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
ROE	10.6%	7.5%	8.2%	-2.1%	9.8%	13.9%	9.1%	6.2%	5.3%	8.3%	6.7%	4.8%	5.0%
ROA	6.0%	4.0%	4.0%	-1.0%	4.9%	7.8%	5.5%	3.9%	3.5%	5.6%	4.0%	3.0%	3.4%
Debt ratio	43.7%	48.6%	53.3%	53.4%	47.1%	41.2%	38.5%	36.1%	33.4%	31.6%	45.5%	32.4%	32.5%

EPS

Annual · NT$

EPS NT$0.73

Show table：EPS

Item	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
EPS（NT$）	1.79	1.26	1.33	-0.31	1.39	2.08	1.39	0.92	0.75	1.18	0.95	0.62	0.73

Source: Taiwan MOPS financial statements

Polygreen annual reports

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

About Polygreen filings

Where can I download Polygreen (8423) 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.