Declared Dividend • Jun 10
Dividend of NT$1.70 announced Shareholders will receive a dividend of NT$1.70. Ex-date: 17th August 2026 Payment date: 18th September 2026 Dividend yield will be 3.9%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is well covered by both earnings (36% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 13% 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 23% 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 2026 earnings released: EPS: NT$1.00 (vs NT$1.23 in 1Q 2025) First quarter 2026 results: EPS: NT$1.00. Revenue: NT$1.17b (up 7.2% from 1Q 2025). Net income: NT$302.3m (up 28% from 1Q 2025). Profit margin: 26% (up from 22% in 1Q 2025). The increase in margin was driven by higher revenue. Reported Earnings • Mar 12
Full year 2025 earnings released: EPS: NT$4.21 (vs NT$3.71 in FY 2024) Full year 2025 results: EPS: NT$4.21 (up from NT$3.71 in FY 2024). Revenue: NT$4.82b (up 3.0% from FY 2024). Net income: NT$810.4m (up 13% from FY 2024). Profit margin: 17% (up from 15% 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 44% per year whereas the company’s share price has increased by 42% per year. Announcement • Mar 06
Hold-Key Electric Wire & Cable Co., Ltd, Annual General Meeting, May 25, 2026 Hold-Key Electric Wire & Cable Co., Ltd, Annual General Meeting, May 25, 2026, at 09:00 Taipei Standard Time. Location: no,32, ching chien 5th rd., guanyin district, taoyuan city Taiwan Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$49.60, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 24x in the Electrical industry in Taiwan. Total returns to shareholders of 258% over the past three years. Reported Earnings • Nov 13
Third quarter 2025 earnings released: EPS: NT$1.01 (vs NT$1.18 in 3Q 2024) Third quarter 2025 results: EPS: NT$1.01 (down from NT$1.18 in 3Q 2024). Revenue: NT$1.18b (down 13% from 3Q 2024). Net income: NT$194.4m (down 14% from 3Q 2024). Profit margin: 17% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has increased by 49% per year whereas the company’s share price has increased by 47% per year. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: NT$1.02 (vs NT$0.91 in 2Q 2024) Second quarter 2025 results: EPS: NT$1.02 (up from NT$0.91 in 2Q 2024). Revenue: NT$1.56b (up 59% from 2Q 2024). Net income: NT$197.0m (up 12% from 2Q 2024). Profit margin: 13% (down from 18% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 52% per year whereas the company’s share price has increased by 54% per year. Upcoming Dividend • Aug 11
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 18 August 2025. Payment date: 19 September 2025. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.5%). New Risk • May 31
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 3.1% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 High level of non-cash earnings (23% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Announcement • May 27
Hold-Key Electric Wire & Cable Co., Ltd Approves Dividend for 2024 Hold-Key Electric Wire & Cable Co. Ltd. in its shareholders meeting held on May 26, 2025 approved 2024 Earnings Distribution of appropriate TWD 289,037,621 from the earnings (TWD 1.5 per share). Reported Earnings • May 16
First quarter 2025 earnings released: EPS: NT$1.23 (vs NT$0.62 in 1Q 2024) First quarter 2025 results: EPS: NT$1.23 (up from NT$0.62 in 1Q 2024). Revenue: NT$1.09b (up 9.6% from 1Q 2024). Net income: NT$236.6m (up 99% from 1Q 2024). Profit margin: 22% (up from 12% in 1Q 2024). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has increased by 58% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 07
Hold-Key Electric Wire & Cable Co., Ltd to Report Q1, 2025 Results on May 14, 2025 Hold-Key Electric Wire & Cable Co., Ltd announced that they will report Q1, 2025 results on May 14, 2025 Valuation Update With 7 Day Price Move • May 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$43.05, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 19x in the Electrical industry in Taiwan. Total returns to shareholders of 261% over the past three years. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$34.85, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 17x in the Electrical industry in Taiwan. Total returns to shareholders of 189% over the past three years. New Risk • Mar 31
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 6.3% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 13
Full year 2024 earnings released: EPS: NT$3.71 (vs NT$2.01 in FY 2023) Full year 2024 results: EPS: NT$3.71 (up from NT$2.01 in FY 2023). Revenue: NT$4.67b (up 4.3% from FY 2023). Net income: NT$714.7m (up 85% from FY 2023). Profit margin: 15% (up from 8.6% in FY 2023). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year whereas the company’s share price has increased by 51% per year. Announcement • Feb 25
Hold-Key Electric Wire & Cable Co., Ltd, Annual General Meeting, May 26, 2025 Hold-Key Electric Wire & Cable Co., Ltd, Annual General Meeting, May 26, 2025, at 09:00 Taipei Standard Time. Location: no,32, ching chien 5th rd., guanyin district, taoyuan city Taiwan Announcement • Feb 15
Hold-Key Electric Wire & Cable Co., Ltd to Report Q4, 2024 Results on Feb 24, 2025 Hold-Key Electric Wire & Cable Co., Ltd announced that they will report Q4, 2024 results on Feb 24, 2025 Announcement • Dec 26
Hold-Key Electric Wire & Cable Establishes Sustainable Development Committee Hold-Key Electric Wire & Cable Co. Ltd. has established a new Sustainable Development Committee on December 24, 2024. The committee comprises three members: Rongsui Weng, an independent director with extensive experience in finance; Wencheng Shen, with a background in capital markets and investment trusts; and Xinzheng Li, a seasoned executive with experience in both Dahelong Electromechanical Co. Ltd. and Hold-Key itself. The committee's term aligns with the current board of directors, ending on June 26, 2025. New Risk • Dec 02
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 6.3% 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 High level of non-cash earnings (24% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.3% average weekly change). New Risk • Nov 17
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: NT$1.18 (vs NT$0.47 in 3Q 2023) Third quarter 2024 results: EPS: NT$1.18 (up from NT$0.47 in 3Q 2023). Revenue: NT$1.35b (down 4.4% from 3Q 2023). Net income: NT$226.9m (up 149% from 3Q 2023). Profit margin: 17% (up from 6.5% 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 46% per year whereas the company’s share price has increased by 48% per year. Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$49.30, the stock trades at a trailing P/E ratio of 17.2x. Average trailing P/E is 26x in the Electrical industry in Taiwan. Total returns to shareholders of 263% over the past three years. Announcement • Nov 05
Hold-Key Electric Wire & Cable Co., Ltd to Report Q3, 2024 Results on Nov 12, 2024 Hold-Key Electric Wire & Cable Co., Ltd announced that they will report Q3, 2024 results on Nov 12, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.91 (vs NT$0.39 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.91 (up from NT$0.39 in 2Q 2023). Revenue: NT$983.2m (up 2.0% from 2Q 2023). Net income: NT$175.2m (up 133% from 2Q 2023). Profit margin: 18% (up from 7.8% in 2Q 2023). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 02
Hold-Key Electric Wire & Cable Co., Ltd to Report Q2, 2024 Results on Aug 09, 2024 Hold-Key Electric Wire & Cable Co., Ltd announced that they will report Q2, 2024 results on Aug 09, 2024 Upcoming Dividend • Jul 15
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 22 July 2024. Payment date: 19 August 2024. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of Taiwanese dividend payers (4.2%). Lower than average of industry peers (2.2%). Declared Dividend • Jun 27
Dividend increased to NT$1.00 Dividend of NT$1.00 is 67% higher than last year. Ex-date: 22nd July 2024 Payment date: 19th August 2024 Dividend yield will be 1.8%, which is lower than the industry average of 3.1%. Sustainability & Growth Dividend is covered by earnings (37% 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 decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 35% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jun 25
Hold-Key Electric Wire & Cable Co., Ltd Announces Dividend, Payable on August 19, 2024 Hold-Key Electric Wire & Cable Co. Ltd. announced common stock dividend distribution to appropriate of TWD 96,345,874 from the earnings (TWD 0.5 per share) and to appropriate of TWD 96,345,873 from the capital surplus from the issuance of shares in excess of par value (TWD 0.5 per share) the total amount is TWD 192,691,747. (Total cash dividend per share is TWD 1.) Ex-rights (ex-dividend) trading date: July 22, 2024. Ex-rights (ex-dividend) record date; July 28, 2024. Payment date of common stock cash dividend distribution: August 19, 2024. Date of the resolution by the board of directors or shareholders meeting or decision by the Company: June 24, 2024. Reported Earnings • May 18
First quarter 2024 earnings released: EPS: NT$0.62 (vs NT$0.28 in 1Q 2023) First quarter 2024 results: EPS: NT$0.62 (up from NT$0.28 in 1Q 2023). Revenue: NT$992.5m (up 23% from 1Q 2023). Net income: NT$119.2m (up 121% from 1Q 2023). Profit margin: 12% (up from 6.7% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 08
Hold-Key Electric Wire & Cable Co., Ltd to Report Q1, 2024 Results on May 14, 2024 Hold-Key Electric Wire & Cable Co., Ltd announced that they will report Q1, 2024 results on May 14, 2024 Valuation Update With 7 Day Price Move • May 03
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$48.55, the stock trades at a trailing P/E ratio of 24.2x. Average trailing P/E is 27x in the Electrical industry in Taiwan. Total returns to shareholders of 149% over the past three years. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$43.05, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 25x in the Electrical industry in Taiwan. Total returns to shareholders of 130% over the past three years. Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: NT$2.01 (vs NT$1.29 in FY 2022) Full year 2023 results: EPS: NT$2.01 (up from NT$1.29 in FY 2022). Revenue: NT$4.48b (up 56% from FY 2022). Net income: NT$386.8m (up 56% from FY 2022). Profit margin: 8.6% (down from 8.7% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 14
Hold-Key Electric Wire & Cable Co., Ltd, Annual General Meeting, Jun 24, 2024 Hold-Key Electric Wire & Cable Co., Ltd, Annual General Meeting, Jun 24, 2024. New Risk • Dec 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 7.3% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$33.30, the stock trades at a trailing P/E ratio of 20.6x. Average trailing P/E is 19x in the Electrical industry in Taiwan. Total returns to shareholders of 178% over the past three years. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$30.60, the stock trades at a trailing P/E ratio of 22.7x. Average trailing P/E is 17x in the Electrical industry in Taiwan. Total returns to shareholders of 241% over the past three years. Reported Earnings • Aug 18
Second quarter 2023 earnings released: EPS: NT$0.39 (vs NT$0.27 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.39 (up from NT$0.27 in 2Q 2022). Revenue: NT$964.4m (up 82% from 2Q 2022). Net income: NT$75.3m (up 43% from 2Q 2022). Profit margin: 7.8% (down from 9.9% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jul 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.1% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.1% average weekly change). Minor Risk Paying a dividend despite having no free cash flows. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$25.05, the stock trades at a trailing P/E ratio of 20.4x. Average trailing P/E is 17x in the Electrical industry in Taiwan. Total returns to shareholders of 204% over the past three years. Upcoming Dividend • Jul 04
Upcoming dividend of NT$0.60 per share at 2.4% yield Eligible shareholders must have bought the stock before 11 July 2023. Payment date: 07 August 2023. Payout ratio is a comfortable 43% but the company is not cash flow positive. Trailing yield: 2.4%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (3.0%). Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$21.65, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 17x in the Electrical industry in Taiwan. Total returns to shareholders of 170% over the past three years. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$19.85, the stock trades at a trailing P/E ratio of 15.4x. Average trailing P/E is 15x in the Electrical industry in Taiwan. Total returns to shareholders of 173% over the past three years. Reported Earnings • Mar 31
Full year 2022 earnings released: EPS: NT$1.29 (vs NT$1.04 in FY 2021) Full year 2022 results: EPS: NT$1.29 (up from NT$1.04 in FY 2021). Revenue: NT$2.86b (up 2.2% from FY 2021). Net income: NT$248.1m (up 6.5% from FY 2021). Profit margin: 8.7% (up from 8.3% in FY 2021). The increase in margin was driven by higher revenue. 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 27% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 19
Third quarter 2022 earnings released: EPS: NT$0.20 (vs NT$0.20 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.20. Revenue: NT$814.5m (up 74% from 3Q 2021). Net income: NT$39.3m (down 11% from 3Q 2021). Profit margin: 4.8% (down from 9.5% in 3Q 2021). The decrease in margin was driven by higher expenses. Board Change • Nov 16
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. 4 experienced directors. 5 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Chen Shizhen was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment improved over the past week After last week's 16% share price gain to NT$15.15, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 14x in the Electrical industry in Taiwan. Total returns to shareholders of 76% over the past three years. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 16% share price gain to NT$14.90, the stock trades at a trailing P/E ratio of 12.5x. Average trailing P/E is 16x in the Electrical industry in Taiwan. Total returns to shareholders of 89% over the past three years. Reported Earnings • Aug 16
Second quarter 2022 earnings released: EPS: NT$0.27 (vs NT$0.28 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.27 (down from NT$0.28 in 2Q 2021). Revenue: NT$529.4m (down 30% from 2Q 2021). Net income: NT$52.5m (down 3.4% from 2Q 2021). Profit margin: 9.9% (up from 7.2% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 05
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 12 July 2022. Payment date: 05 August 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 22%. Within top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (3.8%). Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.34 (vs NT$0.35 in 1Q 2021) First quarter 2022 results: EPS: NT$0.34 (down from NT$0.35 in 1Q 2021). Revenue: NT$701.6m (down 14% from 1Q 2021). Net income: NT$65.4m (down 3.2% from 1Q 2021). Profit margin: 9.3% (up from 8.3% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
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 Chen Shizhen was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 29
Full year 2021 earnings released: EPS: NT$1.04 (vs NT$1.26 in FY 2020) Full year 2021 results: EPS: NT$1.04 (down from NT$1.26 in FY 2020). Revenue: NT$2.80b (flat on FY 2020). Net income: NT$232.9m (down 3.7% from FY 2020). Profit margin: 8.3% (down from 8.6% in FY 2020). Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 18
Third quarter 2021 earnings released: EPS NT$0.20 (vs NT$0.78 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$467.3m (down 62% from 3Q 2020). Net income: NT$44.2m (down 71% from 3Q 2020). Profit margin: 9.5% (down from 12% in 3Q 2020). The decrease in margin was driven by lower revenue. 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 10% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$14.05, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 15x in the Electrical industry in Taiwan. Total returns to shareholders of 80% over the past three years. Upcoming Dividend • Sep 30
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 07 October 2021. Payment date: 22 October 2021. Trailing yield: 14%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.2%). Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS NT$0.23 (vs NT$0.23 in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$753.1m (up 37% from 2Q 2020). Net income: NT$54.4m (down 3.4% from 2Q 2020). Profit margin: 7.2% (down from 10% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 28
Upcoming dividend of NT$0.30 per share Eligible shareholders must have bought the stock before 04 August 2021. Payment date: 06 September 2021. Trailing yield: 1.9%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (3.3%). Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment improved over the past week After last week's 17% share price gain to NT$18.30, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 15x in the Electrical industry in Taiwan. Total returns to shareholders of 109% over the past three years. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.28 (vs NT$0.03 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$812.5m (up 86% from 1Q 2020). Net income: NT$67.6m (up NT$74.7m from 1Q 2020). Profit margin: 8.3% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. 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 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 12
Investor sentiment deteriorated over the past week After last week's 23% share price decline to NT$15.95, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 18x in the Electrical industry in Taiwan. Total returns to shareholders of 89% over the past three years. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improved over the past week After last week's 15% share price gain to NT$19.25, the stock trades at a trailing P/E ratio of 19.2x. Average trailing P/E is 18x in the Electrical industry in Taiwan. Total returns to shareholders of 118% over the past three years. Reported Earnings • Mar 25
Full year 2020 earnings released: EPS NT$1.00 (vs NT$0.28 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$2.82b (up 2.4% from FY 2019). Net income: NT$242.0m (up 256% from FY 2019). Profit margin: 8.6% (up from 2.5% in FY 2019). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Mar 10
New 90-day high: NT$14.20 The company is up 16% from its price of NT$12.20 on 10 December 2020. The Taiwanese market is up 10.0% 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. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improved over the past week After last week's 16% share price gain to NT$13.30, the stock is trading at a trailing P/E ratio of 13.3x, up from the previous P/E ratio of 11.5x. 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 56%. Is New 90 Day High Low • Dec 18
New 90-day high: NT$14.00 The company is up 40% from its price of NT$9.97 on 18 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 4.0% over the same period. Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment improved over the past week After last week's 16% share price gain to NT$14.00, the stock is trading at a trailing P/E ratio of 14x, up from the previous P/E ratio of 12x. This compares to an average P/E of 16x in the Electrical industry in Taiwan. Total returns to shareholders over the past three years are 69%. Valuation Update With 7 Day Price Move • Nov 30
Market bids up stock over the past week After last week's 18% share price gain to NT$13.85, the stock is trading at a trailing P/E ratio of 13.8x, up from the previous P/E ratio of 11.7x. 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 61%. Is New 90 Day High Low • Nov 28
New 90-day high: NT$12.60 The company is up 39% from its price of NT$9.05 on 28 August 2020. The Taiwanese market is up 8.0% 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. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.63 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.23b (up 48% from 3Q 2019). Net income: NT$151.0m (up 121% from 3Q 2019). Profit margin: 12% (up from 8.2% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 15
Market bids up stock over the past week After last week's 15% share price gain to NT$11.15, the stock is trading at a trailing P/E ratio of 17x, up from the previous P/E ratio of 14.7x. 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 36%. Is New 90 Day High Low • Oct 12
New 90-day high: NT$9.99 The company is up 14% from its price of NT$8.76 on 14 July 2020. The Taiwanese market is up 4.0% 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.