Reported Earnings • May 16
First quarter 2026 earnings released: EPS: NT$2.00 (vs NT$3.81 in 1Q 2025) First quarter 2026 results: EPS: NT$2.00 (down from NT$3.81 in 1Q 2025). Revenue: NT$604.1m (up 30% from 1Q 2025). Net income: NT$79.1m (down 45% from 1Q 2025). Profit margin: 13% (down from 31% in 1Q 2025). 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 21% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$120, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 18x in the Hospitality industry in Taiwan. Total returns to shareholders of 260% over the past three years. Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: NT$18.83 (vs NT$6.27 in FY 2024) Full year 2025 results: EPS: NT$18.83 (up from NT$6.27 in FY 2024). Revenue: NT$3.09b (up 79% from FY 2024). Net income: NT$715.5m (up 243% from FY 2024). Profit margin: 23% (up from 12% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 49% per year, which means it is significantly lagging earnings growth. Declared Dividend • Mar 11
Dividend increased to NT$18.70 Dividend of NT$18.70 is 167% higher than last year. Ex-date: 26th March 2026 Payment date: 23rd April 2026 Dividend yield will be 12%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 19% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 195% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Board Change • Feb 24
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. Chairman & President Jian-huan Lin was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Nov 12
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 67% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 67% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (15% increase in shares outstanding). Reported Earnings • Nov 12
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: NT$11.20 (up from NT$2.15 in 3Q 2024). Revenue: NT$1.86b (up 367% from 3Q 2024). Net income: NT$425.7m (up 499% from 3Q 2024). Profit margin: 23% (up from 18% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 44%. Earnings per share (EPS) also surpassed analyst estimates by 47%. Revenue is expected to decline by 32% p.a. on average during the next 2 years, while revenues in the Hospitality industry in Taiwan are expected to grow by 5.3%. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 48% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 10
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to NT$138, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Hospitality industry in Taiwan. Total returns to shareholders of 283% over the past three years. Reported Earnings • Aug 09
Second quarter 2025 earnings released: EPS: NT$2.40 (vs NT$0.73 in 2Q 2024) Second quarter 2025 results: EPS: NT$2.40 (up from NT$0.73 in 2Q 2024). Revenue: NT$387.9m (up 13% from 2Q 2024). Net income: NT$91.2m (up 279% from 2Q 2024). Profit margin: 24% (up from 7.0% in 2Q 2024). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 5.7% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 47% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$149, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 15x in the Hospitality industry in Taiwan. Total returns to shareholders of 299% over the past three years. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$169, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 15x in the Hospitality industry in Taiwan. Total returns to shareholders of 399% over the past three years. New Risk • Jun 09
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 8.8% 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 Earnings are forecast to decline by an average of 7.9% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.8% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Reported Earnings • May 14
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: NT$3.81 (up from NT$2.22 in 1Q 2024). Revenue: NT$463.3m (down 27% from 1Q 2024). Net income: NT$144.9m (up 98% from 1Q 2024). Profit margin: 31% (up from 12% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 21%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 8.7% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$108, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 17x in the Hospitality industry in Taiwan. Total returns to shareholders of 187% over the past three years. New Risk • Apr 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.06b (US$92.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (105% accrual ratio). Minor Risks Dividend is not well covered by cash flows (187% cash payout ratio). Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (NT$3.06b market cap, or US$92.5m). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$80.50, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 18x in the Media industry in Asia. Total returns to shareholders of 96% over the past three years. Reported Earnings • Mar 26
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: NT$6.27 (up from NT$5.94 in FY 2023). Revenue: NT$1.73b (up 29% from FY 2023). Net income: NT$208.5m (up 16% from FY 2023). Profit margin: 12% (down from 13% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates by 16%. Revenue is forecast to stay flat during the next 2 years compared to a 7.3% growth forecast for the Media industry in Asia. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Announcement • Mar 18
Kuang Hong Arts Management Incorporation, Annual General Meeting, Jun 03, 2025 Kuang Hong Arts Management Incorporation, Annual General Meeting, Jun 03, 2025, at 09:00 Taipei Standard Time. Location: 6 floor no,267, yueh ch`un 2nd rd., jhongshan district, taipei city Taiwan Declared Dividend • Mar 17
Dividend increased to NT$7.00 Dividend of NT$7.00 is 32% higher than last year. Ex-date: 1st April 2025 Payment date: 30th April 2025 Dividend yield will be 7.3%, which is higher than the industry average of 5.2%. Sustainability & Growth Dividend is covered by both earnings (69% earnings payout ratio) and cash flows (51% cash payout ratio). The dividend has increased by an average of 17% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to decline by 11% over the next 2 years. However, it would need to fall by 23% to increase the payout ratio to a potentially unsustainable range. Announcement • Mar 15
Kuang Hong Arts Management Incorporation announces Annual dividend, payable on April 30, 2025 Kuang Hong Arts Management Incorporation announced Annual dividend of TWD 5.0000 per share payable on April 30, 2025, ex-date on April 01, 2025 and record date on April 04, 2025. New Risk • Jan 17
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 27% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (27% increase in shares outstanding). New Risk • Jan 06
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 0.6% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (10.0% increase in shares outstanding). Market cap is less than US$100m (NT$2.87b market cap, or US$87.3m). Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$2.15 (vs NT$2.15 in 3Q 2023) Third quarter 2024 results: EPS: NT$2.15 (up from NT$2.15 in 3Q 2023). Revenue: NT$398.7m (down 30% from 3Q 2023). Net income: NT$71.1m (up 10% from 3Q 2023). Profit margin: 18% (up from 11% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: NT$0.73 (vs NT$0.23 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.73 (up from NT$0.23 in 2Q 2023). Revenue: NT$342.5m (up 99% from 2Q 2023). Net income: NT$24.1m (up 241% from 2Q 2023). Profit margin: 7.0% (up from 4.1% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jul 29
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to NT$69.20. The fair value is estimated to be NT$86.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 61%. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$2.22 (vs NT$0.91 in 1Q 2023) First quarter 2024 results: EPS: NT$2.22 (up from NT$0.91 in 1Q 2023). Revenue: NT$632.7m (up 229% from 1Q 2023). Net income: NT$73.3m (up 167% from 1Q 2023). Profit margin: 12% (down from 14% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 14
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$73.80, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 16x in the Media industry in Taiwan. Total returns to shareholders of 83% over the past three years. Buy Or Sell Opportunity • Apr 11
Now 21% undervalued Over the last 90 days, the stock has risen 33% to NT$70.70. The fair value is estimated to be NT$89.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 19%. New Risk • Mar 27
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 6.7% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 22% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (10.0% increase in shares outstanding). Market cap is less than US$100m (NT$2.60b market cap, or US$81.5m). Upcoming Dividend • Mar 21
Upcoming dividend of NT$5.30 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 25 April 2024. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Taiwanese dividend payers (4.7%). Lower than average of industry peers (4.8%). Reported Earnings • Mar 21
Full year 2023 earnings released: EPS: NT$5.94 (vs NT$0.053 in FY 2022) Full year 2023 results: EPS: NT$5.94 (up from NT$0.053 in FY 2022). Revenue: NT$1.34b (up 4.8% from FY 2022). Net income: NT$179.6m (up NT$178.0m from FY 2022). Profit margin: 13% (up from 0.1% in FY 2022). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Mar 14
Kuang Hong Arts Management Incorporation, Annual General Meeting, May 28, 2024 Kuang Hong Arts Management Incorporation, Annual General Meeting, May 28, 2024. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$64.70, the stock trades at a trailing P/E ratio of 22.7x. Average trailing P/E is 18x in the Media industry in Taiwan. Total returns to shareholders of 34% over the past three years. New Risk • Dec 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 33% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 33% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (NT$1.61b market cap, or US$51.2m). New Risk • Sep 04
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 107% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 36% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (NT$1.57b market cap, or US$49.3m). Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: NT$0.24 (vs NT$0.76 loss in 2Q 2022) Second quarter 2023 results: EPS: NT$0.24 (up from NT$0.76 loss in 2Q 2022). Revenue: NT$172.3m (down 19% from 2Q 2022). Net income: NT$7.05m (up NT$29.8m from 2Q 2022). Profit margin: 4.1% (up from net loss in 2Q 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 03
Upcoming dividend of NT$0.50 per share at 0.8% yield Eligible shareholders must have bought the stock before 10 July 2023. Payment date: 03 August 2023. Trailing yield: 0.8%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.9%). New Risk • Jun 13
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 6.2% 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 Earnings have declined by 37% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.2% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (NT$1.97b market cap, or US$64.0m). Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: NT$0.05 (vs NT$2.86 loss in FY 2021) Full year 2022 results: EPS: NT$0.05 (up from NT$2.86 loss in FY 2021). Revenue: NT$1.28b (up 325% from FY 2021). Net income: NT$1.59m (up NT$87.3m from FY 2021). Profit margin: 0.1% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 16
Second quarter 2022 earnings released: NT$0.76 loss per share (vs NT$0.17 loss in 2Q 2021) Second quarter 2022 results: NT$0.76 loss per share (down from NT$0.17 loss in 2Q 2021). Revenue: NT$213.4m (up 61% from 2Q 2021). Net loss: NT$22.8m (loss widened 345% from 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Reported Earnings • May 16
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: NT$0.39 (up from NT$1.11 loss in 1Q 2021). Revenue: NT$410.5m (up 283% from 1Q 2021). Net income: NT$11.6m (up NT$44.9m from 1Q 2021). Profit margin: 2.8% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 31
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: NT$2.86 loss per share (down from NT$3.01 profit in FY 2020). Revenue: NT$302.1m (down 69% from FY 2020). Net loss: NT$85.7m (down 199% from profit in FY 2020). Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Nov 13
Third quarter 2021 earnings released: NT$0.26 loss per share (vs NT$0.47 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: NT$4.40m (down 98% from 3Q 2020). Net loss: NT$7.76m (down 156% from profit in 3Q 2020). 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 5% per year, which means it is well ahead of earnings. Reported Earnings • Aug 13
Second quarter 2021 earnings released: NT$0.17 loss per share (vs NT$0.28 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: NT$132.9m (up NT$115.9m from 2Q 2020). Net loss: NT$5.12m (loss narrowed 34% from 2Q 2020). Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 1% per year. Upcoming Dividend • Jun 09
Upcoming dividend of NT$4.50 per share Eligible shareholders must have bought the stock before 16 June 2021. Payment date: 09 July 2021. Trailing yield: 8.5%. Within top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (4.6%). Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$46.50, the stock trades at a trailing P/E ratio of 18.5x. Average trailing P/E is 20x in the Media industry in Taiwan. Total returns to shareholders of 7.3% over the past three years. Reported Earnings • May 14
First quarter 2021 earnings released: NT$1.11 loss per share (vs NT$0.72 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: NT$107.1m (down 35% from 1Q 2020). Net loss: NT$33.3m (loss widened 66% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 1% per year. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$3.01 (vs NT$8.03 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$973.6m (down 40% from FY 2019). Net income: NT$86.8m (down 61% from FY 2019). Profit margin: 8.9% (down from 14% in FY 2019). Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 5% per year. Announcement • Mar 19
Kuang Hong Arts Management Incorporation, Annual General Meeting, Jun 08, 2021 Kuang Hong Arts Management Incorporation, Annual General Meeting, Jun 08, 2021. Is New 90 Day High Low • Mar 11
New 90-day high: NT$53.20 The company is up 2.0% from its price of NT$52.40 on 11 December 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Media industry, which is flat over the same period. Is New 90 Day High Low • Nov 20
New 90-day high: NT$52.20 The company is up 7.0% from its price of NT$48.85 on 21 August 2020. The Taiwanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Media industry, which is down 1.0% over the same period. Reported Earnings • Nov 17
Third quarter 2020 earnings released: EPS NT$0.47 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$177.6m (down 70% from 3Q 2019). Net income: NT$13.8m (down 82% from 3Q 2019). Profit margin: 7.8% (down from 13% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 19
New 90-day low: NT$44.80 The company is down 10.0% from its price of NT$49.60 on 21 July 2020. The Taiwanese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is down 2.0% over the same period. Is New 90 Day High Low • Sep 22
New 90-day low: NT$45.50 The company is down 16% from its price of NT$54.20 on 24 June 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is down 1.0% over the same period. 
