Reported Earnings • May 16
First quarter 2026 earnings released: EPS: NT$0.55 (vs NT$0.52 in 1Q 2025) First quarter 2026 results: EPS: NT$0.55 (up from NT$0.52 in 1Q 2025). Revenue: NT$2.52b (up 4.0% from 1Q 2025). Net income: NT$980.8m (up 5.0% from 1Q 2025). Profit margin: 39% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 15
Full year 2025 earnings released: EPS: NT$2.57 (vs NT$2.34 in FY 2024) Full year 2025 results: EPS: NT$2.57 (up from NT$2.34 in FY 2024). Revenue: NT$13.6b (up 4.9% from FY 2024). Net income: NT$4.60b (up 9.8% from FY 2024). Profit margin: 34% (up from 32% 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 6% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Mar 11
Lien Hwa Industrial Holdings Corporation, Annual General Meeting, May 28, 2026 Lien Hwa Industrial Holdings Corporation, Annual General Meeting, May 28, 2026, at 09:00 Taipei Standard Time. Location: 1 floor no,209, sec.1 nan kang rd., nangang district, taipei city Taiwan Reported Earnings • Nov 17
Third quarter 2025 earnings released: EPS: NT$0.71 (vs NT$0.42 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.71 (up from NT$0.42 in 3Q 2024). Revenue: NT$3.23b (up 16% from 3Q 2024). Net income: NT$1.28b (up 69% from 3Q 2024). Profit margin: 40% (up from 27% in 3Q 2024). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 6% per year. Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: NT$0.77 (vs NT$0.75 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.77 (up from NT$0.75 in 2Q 2024). Revenue: NT$4.11b (up 4.2% from 2Q 2024). Net income: NT$1.38b (up 2.2% from 2Q 2024). Profit margin: 34% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has remained flat. Declared Dividend • Jul 06
Dividend of NT$1.30 announced Shareholders will receive a dividend of NT$1.30. Ex-date: 24th July 2025 Payment date: 20th August 2025 Dividend yield will be 2.9%, which is lower than the industry average of 3.5%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (59% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 16% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 16
First quarter 2025 earnings released: EPS: NT$0.55 (vs NT$0.65 in 1Q 2024) First quarter 2025 results: EPS: NT$0.55 (down from NT$0.65 in 1Q 2024). Revenue: NT$2.43b (down 21% from 1Q 2024). Net income: NT$934.1m (down 15% from 1Q 2024). Profit margin: 39% (up from 36% in 1Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 1% per year. Announcement • May 07
Lien Hwa Industrial Holdings Corporation to Report Q1, 2025 Results on May 14, 2025 Lien Hwa Industrial Holdings Corporation announced that they will report Q1, 2025 results on May 14, 2025 Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$41.65, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 17x in the Food industry in Taiwan. Total loss to shareholders of 18% over the past three years. Buy Or Sell Opportunity • Apr 07
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 10% to NT$45.40. The fair value is estimated to be NT$59.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years, while earnings per share has been flat. Reported Earnings • Mar 14
Full year 2024 earnings released: EPS: NT$2.46 (vs NT$2.44 in FY 2023) Full year 2024 results: EPS: NT$2.46 (up from NT$2.44 in FY 2023). Revenue: NT$12.9b (down 4.8% from FY 2023). Net income: NT$4.19b (flat on FY 2023). Profit margin: 32% (up from 31% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has remained flat. Announcement • Mar 12
Lien Hwa Industrial Holdings Corporation, Annual General Meeting, May 26, 2025 Lien Hwa Industrial Holdings Corporation, Annual General Meeting, May 26, 2025, at 09:00 Taipei Standard Time. Location: 1 floor no,209, sec.1 nan kang rd., nangang district, taipei city Taiwan Announcement • Feb 28
Lien Hwa Industrial Holdings Corporation to Report Fiscal Year 2024 Results on Mar 10, 2025 Lien Hwa Industrial Holdings Corporation announced that they will report fiscal year 2024 results on Mar 10, 2025 Buy Or Sell Opportunity • Feb 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to NT$51.50. The fair value is estimated to be NT$64.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.1% over the last 3 years, while earnings per share has been flat. Buy Or Sell Opportunity • Dec 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 16% to NT$51.30. The fair value is estimated to be NT$64.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.1% over the last 3 years, while earnings per share has been flat. Announcement • Nov 06
Lien Hwa Industrial Holdings Corporation to Report Q3, 2024 Results on Nov 13, 2024 Lien Hwa Industrial Holdings Corporation announced that they will report Q3, 2024 results on Nov 13, 2024 Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: NT$0.79 (vs NT$0.72 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.79 (up from NT$0.72 in 2Q 2023). Revenue: NT$3.94b (up 8.2% from 2Q 2023). Net income: NT$1.35b (up 10% from 2Q 2023). Profit margin: 34% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Announcement • Aug 03
Lien Hwa Industrial Holdings Corporation to Report Q2, 2024 Results on Aug 12, 2024 Lien Hwa Industrial Holdings Corporation announced that they will report Q2, 2024 results on Aug 12, 2024 Declared Dividend • Jul 12
Dividend of NT$1.30 announced Shareholders will receive a dividend of NT$1.30. Ex-date: 26th July 2024 Payment date: 23rd August 2024 Dividend yield will be 1.8%, which is lower than the industry average of 3.5%. Sustainability & Growth Dividend is covered by both earnings (49% earnings payout ratio) and cash flows (76% cash payout ratio). The dividend has increased by an average of 9.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 7.0% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 29
Lien Hwa Industrial Holdings Corporation Appoints Newly-Elected Directors and Independent Directors Lien Hwa Industrial Holdings Corporation announced that the list of newly-elected directors and independent directors of 2024 annual general shareholders meeting. Title and name of the previous position holder: Director: Yu Shiu Educational Foundation Rep.:Matthew Feng-Chiang Miau, Director: Feng-Sheng Miao, Director: Roger Lin, Director: UPC Technology Corp. Rep.: Chun Chen, Director: UPC Technology Corp. Rep.: Song-En Sun, Director: Yih Yuan Investment Corp. Rep.: Cheng-Yu Tan, Director: Yih Yuan Investment Corp. Rep.: Jason Chow, Independent director: Lucy-Sun Hwang and Independent director: Chien-Jen Chen. Resume of the previous position holder: Director: Yu Shiu Educational Foundation Rep.: Matthew Feng-Chiang Miau/The chairman of Lien Hwa Industrial Holdings Corp., Director: Feng-Sheng Miao/The vice-chairman of Lien Hwa Industrial Holdings Corp., Director: Roger Lin/The president of Lien Hwa Industrial Holdings Corp., Director: UPC Technology Corp. Rep.:Chun Chen/The director of Lien Hwa Industrial Holdings Corp., Director:UPC Technology Corp. Rep.:Song-En Sun/The director of Lien Hwa Industrial Holdings Corp., Director:Yih Yuan Investment Corp. Rep.:Cheng-Yu Tan/The director of Lien Hwa Industrial Holdings Corp., Director:Yih Yuan Investment Corp. Rep.:Jason Chow/The director of Lien Hwa Industrial Holdings Corp., Independent director: Lucy-Sun Hwang/National Taiwan University Institute of Food Science Emeritus Professor and Independent director: Chien-Jen Chen/Taipei Forum Executive Director. Title and name of the new position holder: Director: Yu Shiu Educational Foundation Rep.: Matthew Feng-Chiang Miau, Director: Feng-Sheng Miao,Director: Roger Lin, Director: UPC Technology Corp. Rep.: Song-En Sun, Director: Yih Yuan Investment Corp. Rep.:Cheng-Yu Tan, Director: Yih Yuan Investment Corp. Rep.: Jason Chow, Independent director:Lucy-Sun Hwang,Independent director: Hsing-Yi Chow and Independent director: Chien You Lin. Resume of the new position holder: Director:Yu Shiu Educational Foundation Rep.: Matthew Feng-Chiang Miau/The chairman of Lien Hwa Industrial Holdings Corp., Director: Feng-Sheng Miao/The vice-chairman of Lien Hwa Industrial Holdings Corp., Director: Roger Lin/The president of Lien Hwa Industrial Holdings Corp., Director: UPC Technology Corp. Rep.: Song-En Sun/The director of Lien Hwa Industrial Holdings Corp., Director: Yih Yuan Investment Corp. Rep.: Cheng-Yu Tan/The director of Lien Hwa Industrial Holdings Corp., Director: Yih Yuan Investment Corp. Rep.: Jason Chow/The director of Lien Hwa Industrial Holdings Corp., Independent director: Lucy-Sun Hwang/National Taiwan University Institute of Food Science Emeritus Professor, Independent director: Hsing-Yi Chow/The Emeritus Professor of Department of Financial Management at National Chengchi University. And Independent director: Chien You Lin/Chairman of Humax East Co. Ltd. Effective date of the new appointment: May 27, 2024. Reported Earnings • May 18
First quarter 2024 earnings released: EPS: NT$0.70 (vs NT$0.69 in 1Q 2023) First quarter 2024 results: EPS: NT$0.70 (up from NT$0.69 in 1Q 2023). Revenue: NT$3.05b (up 6.2% from 1Q 2023). Net income: NT$1.10b (flat on 1Q 2023). Profit margin: 36% (down from 38% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Announcement • May 11
Lien Hwa Industrial Holdings Corporation has filed a Follow-on Equity Offering in the amount of TWD 295 million. Lien Hwa Industrial Holdings Corporation has filed a Follow-on Equity Offering in the amount of TWD 295 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 29,500,000
Price\Range: TWD 10
Transaction Features: Rights Offering Reported Earnings • Mar 09
Full year 2023 earnings released: EPS: NT$2.64 (vs NT$2.46 in FY 2022) Full year 2023 results: EPS: NT$2.64 (up from NT$2.46 in FY 2022). Revenue: NT$13.6b (up 10% from FY 2022). Net income: NT$4.16b (up 7.4% from FY 2022). Profit margin: 31% (in line with FY 2022). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Announcement • Mar 09
Lien Hwa Industrial Holdings Corporation, Annual General Meeting, May 27, 2024 Lien Hwa Industrial Holdings Corporation, Annual General Meeting, May 27, 2024. Location: 1F., No. 209, Sec.1, Nangang Rd Nangang Dist.,Taipei City, Taiwan, R.O.C. Taipei Taiwan Agenda: To consider 2023 Business Report; To consider Opinion of Independent Director of 2023; To consider 2023 Distribution of Remunerations to Employees and Directors; To consider Cash dividends for distribution of 2023 Profits. Announcement • Mar 08
Lien Hwa Industrial Holdings Corporation, Annual General Meeting, Mar 07, 2024 Lien Hwa Industrial Holdings Corporation, Annual General Meeting, Mar 07, 2024. Agenda: To approve Profit distribution/ deficit compensation; to approve adoption of the Proposal for Distribution of 2023 Profits; to approve Amendments to the corporate charter; to approve Business report and financial statements; to approve Adoption of the 2023 Business Report and Financial Statements; and to approve Elections for board of directors and supervisors. Announcement • Nov 11
Lien Hwa Industrial Holdings Corporation (TWSE:1229) agreed to acquire 50.9% stake in Asia Hydrogen Energy Corporation for approximately TWD 300 million. Lien Hwa Industrial Holdings Corporation (TWSE:1229) agreed to acquire 50.9% stake in Asia Hydrogen Energy Corporation for approximately TWD 300 million on November 9, 2023. Lien Hwa Industrial Holdings Corporation will acquire 7.46 million shares of Asia Hydrogen Energy Corporation. Transaction will be funded from cash in hand. Chin-Po Lin of WinProfession & CO. acted as accountant to Lien Hwa Industrial Holdings Corporation. Reported Earnings • Aug 17
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: EPS: NT$0.78 (down from NT$0.85 in 2Q 2022). Revenue: NT$3.64b (down 9.1% from 2Q 2022). Net income: NT$1.22b (down 8.4% from 2Q 2022). Profit margin: 34% (in line with 2Q 2022). Revenue exceeded analyst estimates by 8.5%. Earnings per share (EPS) missed analyst estimates by 25%. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 19
Upcoming dividend of NT$1.30 per share at 1.9% yield Eligible shareholders must have bought the stock before 26 July 2023. Payment date: 23 August 2023. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (3.4%). Announcement • Jul 12
Lien Hwa Industrial Holdings Corporation Announces Cash Dividend, Payment Date of Cash Dividend Distribution of August 23, 2023 Lien Hwa Industrial Holdings Corporation announced cash dividend per common share is TWD 1.3, and TWD 1,924,169,568 cash dividend in total will be distributed (distributing TWD 1,300 per 1,000 shares). Ex-rights (ex-dividend) trading date of July 26, 2023. Ex-rights (ex-dividend) record date of August 1, 2023 and Payment date of cash dividend distribution of August 23, 2023. Announcement • Jun 02
Lien Hwa Industrial Holdings Corporation Announces Resignation of Lo-Hou Chew as Audit Committee and Compensation Committee Member Lien Hwa Industrial Holdings Corporation announced resignation of Lo-Hou Chew as Audit Committee and Compensation Committee member. Reported Earnings • Mar 15
Full year 2022 earnings released: EPS: NT$2.63 (vs NT$2.78 in FY 2021) Full year 2022 results: EPS: NT$2.63 (down from NT$2.78 in FY 2021). Revenue: NT$12.3b (up 8.9% from FY 2021). Net income: NT$3.87b (down 5.3% from FY 2021). Profit margin: 31% (down from 36% 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 17% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Nov 18
Price target decreased to NT$60.00 Down from NT$65.24, the current price target is provided by 1 analyst. New target price is 22% above last closing price of NT$49.20. Stock is down 9.8% over the past year. The company is forecast to post earnings per share of NT$2.97 for next year compared to NT$2.78 last year. Reported Earnings • Nov 16
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: NT$0.44 (down from NT$0.59 in 3Q 2021). Revenue: NT$2.65b (up 2.2% from 3Q 2021). Net income: NT$650.9m (down 26% from 3Q 2021). Profit margin: 25% (down from 34% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 31%. Revenue is expected to decline by 2.1% p.a. on average during the next 2 years, while revenues in the Food industry in Asia are expected to grow by 10%. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 22% per year. 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. 5 experienced directors. 4 highly experienced directors. 3 independent directors (7 non-independent directors). Independent Director Chien-Jen Chen was the last independent director to join the board, commencing their role in 2018. 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 • Nov 13
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: NT$0.44 (down from NT$0.59 in 3Q 2021). Revenue: NT$2.65b (up 2.2% from 3Q 2021). Net income: NT$650.9m (down 26% from 3Q 2021). Profit margin: 25% (down from 34% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 31%. Revenue is expected to decline by 2.1% p.a. on average during the next 2 years, while revenues in the Food industry in Asia are expected to grow by 10%. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 14
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: NT$0.95 (down from NT$1.07 in 2Q 2021). Revenue: NT$4.00b (up 24% from 2Q 2021). Net income: NT$1.34b (down 11% from 2Q 2021). Profit margin: 33% (down from 47% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 21%. Earnings per share (EPS) also surpassed analyst estimates by 9.2%. Over the next year, revenue is expected to shrink by 3.7% compared to a 15% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 13
Lien Hwa Industrial Holdings Corporation Announces Appointment of Joseph Miau as Chief Information Security Officer with Effect from August 12, 2022 Lien Hwa Industrial Holdings Corporation announced appointment of Joseph Miau, Administration & MIS center Director of Lien Hwa Industrial Holdings Corp, as Chief information security officer with effect from August 12, 2022. Major Estimate Revision • Jun 08
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from NT$1.94 to NT$3.12. Revenue forecast steady at NT$12.0b. Net income forecast to grow 6.1% next year vs 22% growth forecast for Food industry in Taiwan. Consensus price target of NT$65.00 unchanged from last update. Share price was steady at NT$58.40 over the past week. Reported Earnings • May 18
First quarter 2022 earnings: EPS exceeds analyst expectations First quarter 2022 results: EPS: NT$0.91 (up from NT$0.89 in 1Q 2021). Revenue: NT$2.60b (up 17% from 1Q 2021). Net income: NT$1.28b (up 2.2% from 1Q 2021). Profit margin: 49% (down from 56% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 225%. Over the next year, revenue is forecast to grow 2.1%, compared to a 15% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Apr 27
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from NT$11.7b to NT$11.9b. EPS estimate fell from NT$3.15 to NT$1.94 per share. Net income forecast to shrink 33% next year vs 22% growth forecast for Food industry in Taiwan . Consensus price target down from NT$68.50 to NT$65.00. Share price fell 15% to NT$55.80 over the past week. Board Change • Apr 27
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. 5 experienced directors. 4 highly experienced directors. 3 independent directors (7 non-independent directors). Independent Director Chien-Jen Chen was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Apr 14
Upcoming dividend of NT$1.80 per share Eligible shareholders must have bought the stock before 21 April 2022. Payment date: 20 May 2022. Payout ratio is a comfortable 62% but the company is paying out more than the cash it is generating. Trailing yield: 2.7%. Lower than top quartile of Taiwanese dividend payers (5.7%). Lower than average of industry peers (3.7%). Announcement • Apr 02
Lien Hwa Industrial Holdings Corporation, Annual General Meeting, Jun 23, 2022 Lien Hwa Industrial Holdings Corporation, Annual General Meeting, Jun 23, 2022. Reported Earnings • Mar 10
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: NT$2.92 (up from NT$2.21 in FY 2020). Revenue: NT$11.3b (up 19% from FY 2020). Net income: NT$4.09b (up 32% from FY 2020). Profit margin: 36% (up from 33% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) missed analyst estimates by 5.0%. Over the next year, revenue is forecast to grow 3.5%, compared to a 12% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Nov 27
Price target increased to NT$62.41 Up from NT$58.18, the current price target is an average from 2 analysts. New target price is 10% above last closing price of NT$56.50. Stock is up 49% over the past year. The company is forecast to post earnings per share of NT$3.12 for next year compared to NT$2.21 last year. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.62 (vs NT$0.70 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$2.59b (up 11% from 3Q 2020). Net income: NT$875.0m (down 11% from 3Q 2020). Profit margin: 34% (down from 42% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$1.18 (vs NT$0.81 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$3.23b (up 19% from 2Q 2020). Net income: NT$1.51b (up 46% from 2Q 2020). Profit margin: 47% (up from 38% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Jun 18
Consensus EPS estimates increase to NT$3.20 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from NT$9.38b to NT$9.70b. EPS estimate increased from NT$2.70 to NT$3.20 per share. Net income forecast to shrink 1.6% next year vs 18% growth forecast for Food industry in Taiwan . Consensus price target up from NT$55.00 to NT$59.00. Share price rose 2.1% to NT$49.10 over the past week. Reported Earnings • May 11
First quarter 2021 earnings released: EPS NT$0.98 (vs NT$0.17 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$2.23b (up 8.7% from 1Q 2020). Net income: NT$1.25b (up 470% from 1Q 2020). Profit margin: 56% (up from 11% in 1Q 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 15
Upcoming dividend of NT$1.70 per share Eligible shareholders must have bought the stock before 22 April 2021. Payment date: 20 May 2021. Trailing yield: 3.4%. Lower than top quartile of Taiwanese dividend payers (4.8%). Lower than average of industry peers (3.8%). Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$2.43 (vs NT$2.17 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: NT$9.54b (up 15% from FY 2019). Net income: NT$3.10b (up 12% from FY 2019). Profit margin: 33% (down from 34% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Announcement • Mar 20
Lien Hwa Industrial Holdings Corporation, Annual General Meeting, Mar 19, 2021 Lien Hwa Industrial Holdings Corporation, Annual General Meeting, Mar 19, 2021. Is New 90 Day High Low • Mar 05
New 90-day high: NT$43.10 The company is up 4.0% from its price of NT$41.55 on 04 December 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Food industry, which is up 3.0% over the same period. Announcement • Feb 27
Lien Hwa Industrial Holdings Corporation Appoints Tiger Chang as Finance Center Manager Lien Hwa Industrial Holdings Corporation appointed Tiger Chang as Finance center Manager. Is New 90 Day High Low • Dec 29
New 90-day high: NT$42.85 The company is up 8.0% from its price of NT$39.80 on 30 September 2020. The Taiwanese market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is up 9.0% over the same period. Analyst Estimate Surprise Post Earnings • Nov 15
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 9.9%. Earnings per share (EPS) also surpassed analyst estimates by 31%. Over the next year, revenue is expected to shrink by 2.2% compared to a 15% growth forecast for the Food industry in Taiwan. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.77 The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2020 results: Revenue: NT$2.33b (down 14% from 3Q 2019). Net income: NT$985.0m (down 1.7% from 3Q 2019). Profit margin: 42% (up from 37% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. 