Bekanntmachung • Mar 09
TMP Steel Corporation, Annual General Meeting, May 25, 2026 TMP Steel Corporation, Annual General Meeting, May 25, 2026, at 10:00 Taipei Standard Time. Location: no,3, ching chien rd., lugang township, changhua county Taiwan Reported Earnings • Mar 09
Full year 2025 earnings released: EPS: NT$1.53 (vs NT$3.07 in FY 2024) Full year 2025 results: EPS: NT$1.53 (down from NT$3.07 in FY 2024). Revenue: NT$7.68b (down 18% from FY 2024). Net income: NT$152.5m (down 34% from FY 2024). Profit margin: 2.0% (down from 2.5% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 09
Third quarter 2025 earnings released: EPS: NT$0.26 (vs NT$0.49 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.26 (down from NT$0.49 in 3Q 2024). Revenue: NT$1.77b (down 29% from 3Q 2024). Net income: NT$26.0m (down 25% from 3Q 2024). Profit margin: 1.5% (up from 1.4% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Aug 19
Upcoming dividend of NT$1.80 per share Eligible shareholders must have bought the stock before 26 August 2025. Payment date: 25 September 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 7.5%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.2%). Reported Earnings • Aug 09
Second quarter 2025 earnings released: EPS: NT$0.32 (vs NT$1.84 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.32 (down from NT$1.84 in 2Q 2024). Revenue: NT$2.10b (down 11% from 2Q 2024). Net income: NT$32.1m (down 75% from 2Q 2024). Profit margin: 1.5% (down from 5.5% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 3% per year. Reported Earnings • May 10
First quarter 2025 earnings released: EPS: NT$0.47 (vs NT$0.70 in 1Q 2024) First quarter 2025 results: EPS: NT$0.47 (down from NT$0.70 in 1Q 2024). Revenue: NT$1.94b (down 12% from 1Q 2024). Net income: NT$46.6m (down 3.7% from 1Q 2024). Profit margin: 2.4% (up from 2.2% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • May 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.1% to NT$25.65. The fair value is estimated to be NT$32.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 26%. Bekanntmachung • May 01
TMP Steel Corporation to Report Q1, 2025 Results on May 09, 2025 TMP Steel Corporation 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$22.10, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 17x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 21% over the past three years. Buy Or Sell Opportunity • Apr 07
Now 26% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.4% to NT$24.50. The fair value is estimated to be NT$33.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 26%. Reported Earnings • Mar 09
Full year 2024 earnings released: EPS: NT$3.07 (vs NT$4.02 in FY 2023) Full year 2024 results: EPS: NT$3.07 (down from NT$4.02 in FY 2023). Revenue: NT$9.31b (up 19% from FY 2023). Net income: NT$230.8m (down 12% from FY 2023). Profit margin: 2.5% (down from 3.4% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Bekanntmachung • Feb 25
TMP Steel Corporation, Annual General Meeting, May 26, 2025 TMP Steel Corporation, Annual General Meeting, May 26, 2025, at 10:00 Taipei Standard Time. Location: no,3, ching chien rd., lugang township, changhua county Taiwan Bekanntmachung • Feb 14
TMP Steel Corporation to Report Fiscal Year 2024 Results on Feb 21, 2025 TMP Steel Corporation announced that they will report fiscal year 2024 results on Feb 21, 2025 New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 46% This is considered a major 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (38% accrual ratio). Shareholders have been substantially diluted in the past year (46% increase in shares outstanding). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (NT$2.68b market cap, or US$81.3m). Buy Or Sell Opportunity • Jan 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to NT$26.25. The fair value is estimated to be NT$33.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 33%. Bekanntmachung • Jan 09
TMP Steel Corporation Announces Demise of Shih-Chieh Chao, Institutional Director TMP Steel Corporation announced Demise of Shih-Chieh Chao, Institutional Director. Resume of the previous position holder: Director of TMP Steel Corporation, Director of Gloria material technology corp. The company received this information on January 8, 2025. New Risk • Nov 27
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (38% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (46% increase in shares outstanding). Market cap is less than US$100m (NT$2.82b market cap, or US$86.7m). Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.49 (vs NT$0.53 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.49 (down from NT$0.53 in 3Q 2023). Revenue: NT$2.50b (up 51% from 3Q 2023). Net income: NT$34.6m (down 3.8% from 3Q 2023). Profit margin: 1.4% (down from 2.2% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Bekanntmachung • Nov 01
TMP Steel Corporation to Report Q3, 2024 Results on Nov 08, 2024 TMP Steel Corporation announced that they will report Q3, 2024 results on Nov 08, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$1.84 (vs NT$0.78 in 2Q 2023) Second quarter 2024 results: EPS: NT$1.84 (up from NT$0.78 in 2Q 2023). Revenue: NT$2.36b (up 21% from 2Q 2023). Net income: NT$128.5m (up 156% from 2Q 2023). Profit margin: 5.5% (up from 2.6% 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 34% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Aug 05
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 18% to NT$28.90. The fair value is estimated to be NT$38.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Earnings per share has grown by 32%. Bekanntmachung • Aug 02
TMP Steel Corporation to Report Q2, 2024 Results on Aug 09, 2024 TMP Steel Corporation announced that they will report Q2, 2024 results on Aug 09, 2024 Bekanntmachung • May 25
TMP Steel Corporation Announces Change of President TMP Steel Corporation announced change of president. Name and resume of the previous position holder: Yun-Yhih Yang, President of the company. Name and resume of the new position holder: Pei-Ying Huang, Director of the company, Vice President of E-TOP METAL CO., LTD. and Supervisor of E-SHENG STEEL CO., LTD. CReason for the change: retirement. Effective date of the new appointment is June 1, 2024. The retirement date of former president Yun-Yhih Yang is May 31, 2024. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.70 (vs NT$0.83 in 1Q 2023) First quarter 2024 results: EPS: NT$0.70 (down from NT$0.83 in 1Q 2023). Revenue: NT$2.20b (up 1.1% from 1Q 2023). Net income: NT$48.4m (down 4.1% from 1Q 2023). Profit margin: 2.2% (down from 2.3% 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 32% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 16
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 23 May 2024. Payment date: 17 June 2024. Payout ratio is a comfortable 50% but the company is not cash flow positive. Trailing yield: 5.8%. Within top quartile of Taiwanese dividend payers (4.4%). Higher than average of industry peers (2.7%). Bekanntmachung • May 03
TMP Steel Corporation to Report Q1, 2024 Results on May 10, 2024 TMP Steel Corporation announced that they will report Q1, 2024 results on May 10, 2024 Buy Or Sell Opportunity • Mar 28
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to NT$34.25. 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 33% over the last 3 years. Earnings per share has grown by 32%. New Risk • Mar 07
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 36% 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. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (36% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (NT$2.27b market cap, or US$71.9m). Bekanntmachung • Jan 25
TMP Steel Corporation, Annual General Meeting, Apr 22, 2024 TMP Steel Corporation, Annual General Meeting, Apr 22, 2024. Location: No. 3, Jingjian 11th Rd., Lukang Township, Changhua County 505029 , Taiwan Agenda: To consider 2023 Business Report; to consider Audit Committees Review Report on the 2023 year-end report; to consider 2023 Report on the Distribution of Remuneration to Employees and Directors; to consider 2023 Report on cash dividends from earnings; to consider 2023 Report on the Remuneration of Directors; to consider Report on transaction execution status of significant related parties; and to consider other matters. Board Change • Jan 23
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. 5 non-independent directors. Independent Director Su-I Chou was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Bekanntmachung • Jan 17
TMP Steel Corporation Announces Board Changes TMP Steel Corporation appointed KING-CHENG, KUO, Director of AMIGO TECHNOLOGY INC. and Director of AMIT WIRELESS INC., as director and resignation of YU-CHIA, HUANG as director, effective from January 16, 2024. Bekanntmachung • Dec 29
TMP Steel Corporation Announces Change of Financial Officer, Corporate Governance Officer, Effective December 31, 2023 TMP Steel Corporation announced the change of financial officer, acting spokesperson and corporate governance officer. Name, title, and resume of the previous position holder: Huang, Yu-jia/Vice President of the company. Name, title, and resume of the new position holder: 1)Financial officer and acting spokesperson: Wang, Uei-Ling/Accounting manager of the company. Corporate governance officer: GXU, Jing-Yi/Accounting section chief. Type of change: resignation. Reason for the change: Group position adjustment. Effective date: December 31, 2023. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: NT$0.53 (vs NT$0.97 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.53 (down from NT$0.97 in 3Q 2022). Revenue: NT$1.65b (down 15% from 3Q 2022). Net income: NT$36.0m (down 39% from 3Q 2022). Profit margin: 2.2% (down from 3.0% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Bekanntmachung • Nov 09
TMP Steel Corporation Announces Change of the Representative of the Company's Juristic-Person Director TMP Steel Corporation appointed Mu, Wen-Hsiung,Vice President at E-SHENG STEEL CO., LTD. as representative of the company's juristic-person director in place of Yeh, Chun-Liang, effective November 8, 2023. Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: NT$0.78 (vs NT$1.03 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.78. Revenue: NT$1.94b (up 31% from 2Q 2022). Net income: NT$50.1m (up 6.0% from 2Q 2022). Profit margin: 2.6% (down from 3.2% in 2Q 2022). The decrease in margin was driven by higher expenses. Upcoming Dividend • May 31
Upcoming dividend of NT$1.82 per share at 6.9% yield Eligible shareholders must have bought the stock before 07 June 2023. Payment date: 29 June 2023. Payout ratio is a comfortable 55% but the company is not cash flow positive. Trailing yield: 6.9%. Within top quartile of Taiwanese dividend payers (5.6%). Higher than average of industry peers (3.8%). Bekanntmachung • May 06
TMP Steel Corporation Announces Cash Dividend, Payable on June 29, 2023 TMP Steel Corporation announced cash dividend of total amount TWD 123,116,108 (TWD 1.98306867 per share). Ex-rights (Ex-dividend) date is June 07, 2023; Ex-rights (Ex-dividend) record date is June 13, 2023; Payment date of cash dividend distribution is June 29, 2023. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$30.95, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 16x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 53% over the past three years. Reported Earnings • Mar 15
Full year 2022 earnings released: EPS: NT$3.32 (vs NT$1.62 in FY 2021) Full year 2022 results: EPS: NT$3.32 (up from NT$1.62 in FY 2021). Revenue: NT$6.63b (up 49% from FY 2021). Net income: NT$177.1m (up 205% from FY 2021). Profit margin: 2.7% (up from 1.3% 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 3% per year whereas the company’s share price has increased by 4% per year. Board Change • Nov 16
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. 4 non-independent directors. Independent Director Ti-miao Wu was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 30
Third quarter 2022 earnings released: EPS: NT$0.97 (vs NT$0.30 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.97 (up from NT$0.30 in 3Q 2021). Revenue: NT$1.94b (up 119% from 3Q 2021). Net income: NT$58.6m (up 436% from 3Q 2021). Profit margin: 3.0% (up from 1.2% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 10% per year. Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: NT$1.03 (vs NT$0.63 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.03 (up from NT$0.63 in 2Q 2021). Revenue: NT$1.48b (up 40% from 2Q 2021). Net income: NT$47.3m (up 145% from 2Q 2021). Profit margin: 3.2% (up from 1.8% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 8% per year. Upcoming Dividend • Jun 02
Upcoming dividend of NT$1.20 per share Eligible shareholders must have bought the stock before 09 June 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 71% but the company is not cash flow positive. Trailing yield: 5.4%. Lower than top quartile of Taiwanese dividend payers (6.0%). Lower than average of industry peers (7.5%). Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.48 (vs NT$0.41 in 1Q 2021) First quarter 2022 results: EPS: NT$0.48 (up from NT$0.41 in 1Q 2021). Revenue: NT$1.56b (up 79% from 1Q 2021). Net income: NT$21.9m (up 73% from 1Q 2021). Profit margin: 1.4% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 7% per year and the company’s share price has also fallen by 7% per year. 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. 4 non-independent directors. Independent Director Ti-miao Wu was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 28
Full year 2021 earnings released: EPS: NT$1.62 (vs NT$1.74 in FY 2020) Full year 2021 results: EPS: NT$1.62. Revenue: NT$4.44b (up 42% from FY 2020). Net income: NT$58.0m (up 8.6% from FY 2020). Profit margin: 1.3% (down from 1.7% in FY 2020). The decrease in margin was driven by higher expenses. Bekanntmachung • Feb 12
TMP Steel Corporation, Annual General Meeting, Apr 28, 2022 TMP Steel Corporation, Annual General Meeting, Apr 28, 2022. Reported Earnings • Nov 17
Third quarter 2021 earnings released: EPS NT$0.30 (vs NT$0.042 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$885.5m (up 27% from 3Q 2020). Net income: NT$10.9m (up NT$9.67m from 3Q 2020). Profit margin: 1.2% (up from 0.2% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% 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 18
Second quarter 2021 earnings released: EPS NT$0.63 (vs NT$0.49 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: NT$1.06b (up 28% from 2Q 2020). Net income: NT$19.3m (up 28% from 2Q 2020). Profit margin: 1.8% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 27
Upcoming dividend of NT$1.20 per share Eligible shareholders must have bought the stock before 03 August 2021. Payment date: 20 August 2021. Trailing yield: 4.8%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (1.5%). Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improved over the past week After last week's 22% share price gain to NT$29.05, the stock trades at a trailing P/E ratio of 17.9x. Average trailing P/E is 31x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 99% over the past three years. Reported Earnings • May 17
First quarter 2021 earnings released: EPS NT$0.41 (vs NT$0.54 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: NT$870.0m (up 16% from 1Q 2020). Net income: NT$12.7m (down 23% from 1Q 2020). Profit margin: 1.5% (down from 2.2% in 1Q 2020). The decrease in margin was driven by higher 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 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 23
Full year 2020 earnings released: EPS NT$1.74 (vs NT$2.89 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: NT$3.12b (up 3.4% from FY 2019). Net income: NT$53.5m (down 40% from FY 2019). Profit margin: 1.7% (down from 2.9% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Bekanntmachung • Mar 18
TMP Steel Corporation, Annual General Meeting, Jun 03, 2021 TMP Steel Corporation, Annual General Meeting, Jun 03, 2021. Is New 90 Day High Low • Jan 06
New 90-day high: NT$28.00 The company is up 14% from its price of NT$24.60 on 08 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 27% over the same period. Is New 90 Day High Low • Dec 10
New 90-day high: NT$26.30 The company is up 5.0% from its price of NT$25.00 on 11 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 11% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.04 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: NT$699.3m (up 8.6% from 3Q 2019). Net income: NT$1.28m (down 87% from 3Q 2019). Profit margin: 0.2% (down from 1.5% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Oct 23
New 90-day low: NT$24.40 The company is down 10.0% from its price of NT$27.25 on 24 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 6.0% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: NT$24.85 The company is down 8.0% from its price of NT$27.10 on 24 June 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 5.0% over the same period. 
