Declared Dividend • Jun 12
Dividend increased to NT$2.50 Dividend of NT$2.50 is 19% higher than last year. Ex-date: 2nd July 2026 Payment date: 31st July 2026 Dividend yield will be 6.6%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by earnings (83% earnings payout ratio) but not covered by cash flows (101% cash payout ratio). The dividend has increased by an average of 25% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 4.9% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Jun 08
Now 23% undervalued Over the last 90 days, the stock has risen 12% to NT$37.75. The fair value is estimated to be NT$48.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has grown by 20%. Reported Earnings • Mar 19
Full year 2025 earnings released: EPS: NT$2.77 (vs NT$2.38 in FY 2024) Full year 2025 results: EPS: NT$2.77 (up from NT$2.38 in FY 2024). Revenue: NT$7.55b (up 15% from FY 2024). Net income: NT$875.2m (up 16% from FY 2024). Profit margin: 12% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 24% per year. Announcement • Mar 16
Hong Tai Electric Industrial Co., Ltd., Annual General Meeting, Jun 09, 2026 Hong Tai Electric Industrial Co., Ltd., Annual General Meeting, Jun 09, 2026, at 10:00 Taipei Standard Time. Location: 4 floor no,2, kuo chien 1st rd., shu lin li, guanyin district, taoyuan city Taiwan Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: NT$0.70 (vs NT$0.44 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.70 (up from NT$0.44 in 3Q 2024). Revenue: NT$1.87b (up 22% from 3Q 2024). Net income: NT$220.9m (up 60% from 3Q 2024). Profit margin: 12% (up from 9.0% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Reported Earnings • Aug 13
Second quarter 2025 earnings released: EPS: NT$0.89 (vs NT$0.90 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.89. Revenue: NT$2.24b (up 22% from 2Q 2024). Net income: NT$284.0m (flat on 2Q 2024). Profit margin: 13% (down from 16% in 2Q 2024). The decrease in margin was driven by higher expenses. New Risk • Aug 13
New major risk - Revenue and earnings growth Earnings have declined by 4.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 4.0% per year over the past 5 years. Minor Risk Paying a dividend despite having no free cash flows. Buy Or Sell Opportunity • Jul 29
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 16% to NT$35.90. The fair value is estimated to be NT$29.54, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 51%. Buy Or Sell Opportunity • Jul 11
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 21% to NT$36.25. The fair value is estimated to be NT$29.87, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 51%. Declared Dividend • Jun 21
Dividend increased to NT$2.10 Dividend of NT$2.10 is 5.0% higher than last year. Ex-date: 9th July 2025 Payment date: 31st July 2025 Dividend yield will be 5.5%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by earnings (88% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 60% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Jun 11
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 7.9% to NT$36.75. The fair value is estimated to be NT$30.26, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 51%. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$0.60 (vs NT$0.58 in 1Q 2024) First quarter 2025 results: EPS: NT$0.60 (up from NT$0.58 in 1Q 2024). Revenue: NT$1.79b (up 23% from 1Q 2024). Net income: NT$188.4m (up 2.0% from 1Q 2024). Profit margin: 11% (down from 13% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • May 01
Hong Tai Electric Industrial Co., Ltd. to Report Q1, 2025 Results on May 09, 2025 Hong Tai Electric Industrial Co., Ltd. announced that they will report Q1, 2025 results on May 09, 2025 Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$26.90, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 16x in the Electrical industry in Taiwan. Total returns to shareholders of 13% over the past three years. Buy Or Sell Opportunity • Mar 26
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 5.9% to NT$36.00. The fair value is estimated to be NT$29.51, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 59%. Announcement • Mar 13
Hong Tai Electric Industrial Co., Ltd. to Report Fiscal Year 2024 Results on Mar 21, 2025 Hong Tai Electric Industrial Co., Ltd. announced that they will report fiscal year 2024 results on Mar 21, 2025 Announcement • Mar 10
Hong Tai Electric Industrial Co., Ltd., Annual General Meeting, Jun 18, 2025 Hong Tai Electric Industrial Co., Ltd., Annual General Meeting, Jun 18, 2025, at 10:00 Taipei Standard Time. Location: 4 floor no,2, kuo chien 1st rd., shu lin li, guanyin district, taoyuan city Taiwan Reported Earnings • Nov 12
Third quarter 2024 earnings released: EPS: NT$0.44 (vs NT$0.39 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.44 (up from NT$0.39 in 3Q 2023). Revenue: NT$1.54b (down 6.0% from 3Q 2023). Net income: NT$138.0m (up 14% from 3Q 2023). Profit margin: 9.0% (up from 7.4% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Oct 14
Now 21% overvalued Over the last 90 days, the stock has fallen 12% to NT$33.30. The fair value is estimated to be NT$27.59, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years. Earnings per share has declined by 37%. Buy Or Sell Opportunity • Sep 15
Now 20% overvalued Over the last 90 days, the stock has fallen 14% to NT$33.30. The fair value is estimated to be NT$27.75, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years. Earnings per share has declined by 37%. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: NT$0.90 (vs NT$0.54 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.90 (up from NT$0.54 in 2Q 2023). Revenue: NT$1.83b (up 26% from 2Q 2023). Net income: NT$283.7m (up 65% from 2Q 2023). Profit margin: 16% (up from 12% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Aug 05
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to NT$31.65. The fair value is estimated to be NT$41.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Earnings per share has declined by 27%. Announcement • Aug 03
Hong Tai Electric Industrial Co., Ltd. to Report Q2, 2024 Results on Aug 12, 2024 Hong Tai Electric Industrial Co., Ltd. announced that they will report Q2, 2024 results on Aug 12, 2024 Declared Dividend • Jun 15
Dividend increased to NT$2.00 Dividend of NT$2.00 is 33% higher than last year. Ex-date: 2nd July 2024 Payment date: 26th July 2024 Dividend yield will be 5.0%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is not adequately covered by earnings (97% earnings payout ratio) nor is it adequately covered by cash flows (94% cash payout ratio). The dividend has increased by an average of 25% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 7.3% to bring the payout ratio under control, which is less than the 33% EPS growth achieved over the last 5 years. Announcement • Jun 14
Hong Tai Electric Industrial Co., Ltd. Approves Cash Dividend for the Year 2023 Hong Tai Electric Industrial Co., Ltd. at its 2024 regular shareholders' meeting held on June 12, 2024, approved cash dividend of TWD 2.0 per share for the year 2023. Reported Earnings • May 15
First quarter 2024 earnings released: EPS: NT$0.58 (vs NT$0.50 in 1Q 2023) First quarter 2024 results: EPS: NT$0.58 (up from NT$0.50 in 1Q 2023). Revenue: NT$1.46b (up 7.2% from 1Q 2023). Net income: NT$184.8m (up 16% from 1Q 2023). Profit margin: 13% (up from 12% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Announcement • May 02
Hong Tai Electric Industrial Co., Ltd. to Report Q1, 2024 Results on May 10, 2024 Hong Tai Electric Industrial Co., Ltd. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 10, 2024 New Risk • Apr 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 101% Cash payout ratio: 246% Minor Risk Share price has been volatile over the past 3 months (6.6% average weekly change). Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$38.05, the stock trades at a trailing P/E ratio of 19.1x. Average trailing P/E is 25x in the Electrical industry in Taiwan. Total returns to shareholders of 83% over the past three years. Buy Or Sell Opportunity • Apr 08
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 19% to NT$33.60. The fair value is estimated to be NT$27.96, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years. Earnings per share has declined by 12%. Reported Earnings • Mar 29
Full year 2023 earnings released: EPS: NT$1.99 (vs NT$1.12 in FY 2022) Full year 2023 results: EPS: NT$1.99 (up from NT$1.12 in FY 2022). Revenue: NT$6.20b (down 3.0% from FY 2022). Net income: NT$628.5m (up 78% from FY 2022). Profit margin: 10% (up from 5.5% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Mar 09
Hong Tai Electric Industrial Co., Ltd., Annual General Meeting, Jun 12, 2024 Hong Tai Electric Industrial Co., Ltd., Annual General Meeting, Jun 12, 2024. Location: Hong Tai Electric Industrial Co., Ltd, Auditorium, 4F., No.2, Guojian 1st Rd., Shulin Vil., Guanyin Dist., Taoyuan City Taiwan Agenda: To consider 2023 business report; to consider Audit Committee's review of the 2023 annual final accounting books and statements; to consider Report on 2023 employees' and directors' remuneration; to consider Report on 2023 cash dividend distribution; to consider Report on 2023 impairment of assets; to consider Acknowledgment of the 2023 business report and financial statements; and to consider Acknowledgment of the 2023 Earnings Distribution. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$30.25, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 19x in the Electrical industry in Taiwan. Total returns to shareholders of 119% over the past three years. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$0.55 (vs NT$0.086 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.55 (up from NT$0.086 in 2Q 2022). Revenue: NT$1.45b (up 2.6% from 2Q 2022). Net income: NT$171.9m (up NT$144.6m from 2Q 2022). Profit margin: 12% (up from 1.9% in 2Q 2022). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 28% per year. Announcement • Aug 10
Hong Tai Electric Industrial Co., Ltd. Announces the Resignation of Chun-Hsiung Pan as Vice CEO Hong Tai Electric Industrial Co., Ltd. announced the change of Vice CEO. Name, title, and resume of the previous position holder: Chun-Hsiung Pan, Vice CEO of Hong Tai Electric Industrial Co., Ltd. Any other matters that need to be specified: This change is approved by the Board of Directors on August 9,2023. Effective date is September 7, 2023. Reason for the change:Term expired and transfer to senior consultant. Board Change • Aug 05
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Yuan Lu Chih was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 16
Hong Tai Electric Industrial Co., Ltd. Approves Cash Dividends for 2022 Hong Tai Electric Industrial Co., Ltd. approves Cash dividends of TWD 1.5 per share for 2022 at its shareholders meeting held on 15 June 2023. Announcement • May 06
Hong Tai Electric Industrial Co., Ltd. Resolves to Terminate the Operation of the CCL Division The Board of Directors of Hong Tai Electric Industrial Co., Ltd. resolved to terminate the operation of the underperforming CCL division. The CCL division will evaluate options such as complete closure or sale of the plant. In response to the domestic power grid resilience plan and to strengthen the future development of power cable division, the land and factory building will be transferred to the power cable division for its use. Existing employees will be given priority to internal job vacancies. In the event that there are no suitable job openings available, employee layoff will be handled in accordance with the Labor Standards Act. After preliminary evaluation, there is no significant impact on the company's finances and operations. Reported Earnings • Mar 29
Full year 2022 earnings released: EPS: NT$1.12 (vs NT$8.54 in FY 2021) Full year 2022 results: EPS: NT$1.12 (down from NT$8.54 in FY 2021). Revenue: NT$6.39b (up 1.2% from FY 2021). Net income: NT$353.8m (down 87% from FY 2021). Profit margin: 5.5% (down from 43% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 5 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Yuan Lu Chih was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Nov 15
Hong Tai Electric Industrial Co., Ltd. Announces Executive Changes Hong Tai Electric Industrial Co., Ltd. announced executive changes. Name of the previous position holder: Chen Chieh Fu; Resume of the previous position holder: Director of Hong Tai Electric Industrial Co., Ltd. Name of the new position holder: Alex Chen; Resume of the new position holder: Equity Research Analyst of Fine Ace Asset Management Co. Ltd. and Deputy Director of iCatch Technology Inc. Reason for the change: The institutional director assigned a new representative. Any other matters that need to be specified: The Company was notified by institutional director about the change of its representative on November 14, 2022 with effective date from November 11, 2022. Reported Earnings • Nov 09
Third quarter 2022 earnings released: EPS: NT$0.25 (vs NT$0.36 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.25 (down from NT$0.36 in 3Q 2021). Revenue: NT$1.51b (down 13% from 3Q 2021). Net income: NT$80.9m (down 30% from 3Q 2021). Profit margin: 5.4% (down from 6.7% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 09
Second quarter 2022 earnings released: EPS: NT$0.09 (vs NT$0.57 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.09 (down from NT$0.57 in 2Q 2021). Revenue: NT$1.41b (down 13% from 2Q 2021). Net income: NT$27.3m (down 85% from 2Q 2021). Profit margin: 1.9% (down from 11% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$17.10, the stock trades at a trailing P/E ratio of 2.1x. Average trailing P/E is 14x in the Electrical industry in Taiwan. Total returns to shareholders of 120% over the past three years. Upcoming Dividend • Jul 01
Upcoming dividend of NT$2.80 per share Eligible shareholders must have bought the stock before 08 July 2022. Payment date: 29 July 2022. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 14%. Within top quartile of Taiwanese dividend payers (6.5%). Higher than average of industry peers (3.7%). Reported Earnings • May 11
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: NT$0.36 (down from NT$0.56 in 1Q 2021). Revenue: NT$1.66b (up 14% from 1Q 2021). Net income: NT$113.4m (down 36% from 1Q 2021). Profit margin: 6.8% (down from 12% in 1Q 2021). Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 10
Investor sentiment deteriorated over the past week After last week's 18% share price decline to NT$24.40, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 14x in the Electrical industry in Taiwan. Total returns to shareholders of 178% over the past three years. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 5 highly experienced directors. 2 independent directors (6 non-independent directors). Independent Director Yuan Lu Chih was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 30
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: NT$8.54 (up from NT$1.64 in FY 2020). Revenue: NT$6.31b (up 38% from FY 2020). Net income: NT$2.70b (up 422% from FY 2020). Profit margin: 43% (up from 11% in FY 2020). The increase in margin was primarily driven by higher revenue. Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has only increased by 50% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 09
Third quarter 2021 earnings released: EPS NT$0.36 (vs NT$0.81 in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$1.73b (up 60% from 3Q 2020). Net income: NT$115.5m (down 55% from 3Q 2020). Profit margin: 6.7% (down from 24% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 11
Second quarter 2021 earnings released: EPS NT$0.57 (vs NT$0.49 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: NT$1.62b (up 36% from 2Q 2020). Net income: NT$180.6m (up 17% from 2Q 2020). Profit margin: 11% (down from 13% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 29
Upcoming dividend of NT$1.20 per share Eligible shareholders must have bought the stock before 06 July 2021. Payment date: 10 August 2021. Trailing yield: 4.6%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (3.3%). Valuation Update With 7 Day Price Move • May 16
Investor sentiment deteriorated over the past week After last week's 22% share price decline to NT$22.65, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 15x in the Electrical industry in Taiwan. Total returns to shareholders of 130% over the past three years. Reported Earnings • May 11
First quarter 2021 earnings released: EPS NT$0.56 (vs NT$0.16 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.46b (up 25% from 1Q 2020). Net income: NT$178.3m (up NT$229.2m from 1Q 2020). Profit margin: 12% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improved over the past week After last week's 17% share price gain to NT$28.45, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 18x in the Electrical industry in Taiwan. Total returns to shareholders of 177% over the past three years. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$1.64 (vs NT$0.64 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$4.57b (up 30% from FY 2019). Net income: NT$517.3m (up 157% from FY 2019). Profit margin: 11% (up from 5.8% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 26% per year. Is New 90 Day High Low • Feb 25
New 90-day high: NT$21.80 The company is up 20% from its price of NT$18.15 on 27 November 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 11% over the same period. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improved over the past week After last week's 15% share price gain to NT$19.35, the stock is trading at a trailing P/E ratio of 15.5x, up from the previous P/E ratio of 13.5x. This compares to an average P/E of 17x in the Electrical industry in Taiwan. Total returns to shareholders over the past three years are 88%. Is New 90 Day High Low • Dec 08
New 90-day high: NT$18.50 The company is up 19% from its price of NT$15.60 on 09 September 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 7.0% over the same period. Valuation Update With 7 Day Price Move • Nov 27
Market bids up stock over the past week After last week's 19% share price gain to NT$18.15, the stock is trading at a trailing P/E ratio of 14.5x, up from the previous P/E ratio of 12.2x. This compares to an average P/E of 17x in the Electrical industry in Taiwan. Total returns to shareholders over the past three years are 92%. Is New 90 Day High Low • Nov 17
New 90-day high: NT$15.95 The company is up 28% from its price of NT$12.50 on 19 August 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 6.0% over the same period. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS NT$0.81 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.08b (up 27% from 3Q 2019). Net income: NT$256.4m (up NT$236.5m from 3Q 2019). Profit margin: 24% (up from 2.3% in 3Q 2019). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 11% per year. 
