Pou Chen's Q1 Net Profit Soars 1622% Year-on-Year Due to IFRS 17 Application for Nanshan Investment
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Footwear manufacturer Pou Chen Industrial announced its Q1 net profit attributable to owners of the parent company surged by 1622% to NT$2.23 billion, primarily due to increased investment income from its affiliate Nanshan Life, which adopted the IFRS 17 accounting standard this year.