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GPI’s Earnings Plunge: The Clone Toner Market Will Keep Crushing Katun, No Matter Who’s in Charge.

Toner News Mobile › Forums › Toner News Main Forums › GPI’s Earnings Plunge: The Clone Toner Market Will Keep Crushing Katun, No Matter Who’s in Charge.

Tonernews.com, November 17, 2025. USA
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    toner
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    General Plastic Industrial Co. Ltd. (GPI), parent company of Katun Corporation, is facing financial turbulence, and no amount of leadership change will resolve its deeper issues. Despite some minor growth, the company is showing signs of stagnation.

    GPI’s Earnings: A Grim Picture

    In Q2 2025, GPI posted sales of TWD 1,350.37 million (approx. USD 44.5 million), a decline from last year’s TWD 1,390.95 million (approx. USD 45.9 million). Worse, net income plummeted by over 50%, from TWD 94.02 million (approx. USD 3.12 million) last year to just TWD 47.68 million (approx. USD 1.57 million). This is a classic sign of a company squeezing revenue without maintaining profitability.

    For the first half of 2025, sales fell to TWD 2,704.67 million (approx. USD 89.3 million), down from TWD 2,765.37 million a year ago. Net income was almost halved, dropping to TWD 109.35 million (approx. USD 3.6 million), down from TWD 206.36 million last year. The EPS drop from TWD 1.62 to TWD 0.86 (approx. USD 0.028) is further proof that GPI’s financial health is in trouble, despite what the top-line revenue numbers may suggest.

    Katun’s New CEO Won’t End Clone Toner Overproduction

    Now, GPI’s subsidiary Katun Corporation has appointed Chenyi Chiu as its new CEO. But don’t expect this leadership change to miraculously solve Katun’s chronic problems. The clone toner issue—the oversaturation of cheap, third-party toners—remains the elephant in the room. The market is flooded with low-cost alternatives that undermine Katun’s offerings, and Chiu’s appointment won’t change that overnight.

    Leadership transitions often bring hope for “new strategies,” but Katun’s struggles aren’t just internal—they are structural. The global demand for cheap toner alternatives will continue to outweigh any internal maneuvering Katun can do, and the flood of clone toners shows no sign of slowing. Instead of focusing on leadership changes, Katun and GPI need to tackle the real problem: how to innovate in a market flooded with low-cost knockoffs that consumers are flocking to.

    The Inevitable Decline

    As GPI faces declining profits, its role as Katun’s parent company only exacerbates the challenges. Katun, under Chiu, will likely remain stuck in a vicious cycle of competitive pressure from clones. As long as cheap, low-quality toners continue to flood the market, Katun’s chances of reclaiming lost market share are slim. Simply put, leadership changes alone won’t reverse this decline. GPI and Katun are fighting a battle against larger market forces that cannot be won with corporate reshuffling.

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    November 17, 2025 at 10:02 AM
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