Declared Dividend • Jun 01
Dividend increased to NT$2.05 Dividend of NT$2.05 is 18% higher than last year. Ex-date: 15th June 2026 Payment date: 14th July 2026 Dividend yield will be 3.2%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (45% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 43% per year over the past 4 years and payments have been stable during that time. EPS is expected to grow by 16% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 16
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: EPS: NT$1.00 (down from NT$1.15 in 1Q 2025). Revenue: NT$541.1m (up 31% from 1Q 2025). Net income: NT$131.8m (down 1.7% from 1Q 2025). Profit margin: 24% (down from 33% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates by 4.1%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Asia. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 14
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: NT$4.40 (up from NT$4.22 in FY 2024). Revenue: NT$1.81b (up 12% from FY 2024). Net income: NT$507.5m (up 2.0% from FY 2024). Profit margin: 28% (down from 31% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.0%. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Software industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Ankündigung • Mar 13
91APP, Inc., Annual General Meeting, May 29, 2026 91APP, Inc., Annual General Meeting, May 29, 2026, at 09:00 Taipei Standard Time. Location: 4 floor no,207, t`i ting ta tao, neihu district, taipei city Taiwan Reported Earnings • Nov 16
Third quarter 2025 earnings: EPS misses analyst expectations Third quarter 2025 results: EPS: NT$0.99 (up from NT$0.88 in 3Q 2024). Revenue: NT$421.8m (up 11% from 3Q 2024). Net income: NT$112.8m (up 8.2% from 3Q 2024). Profit margin: 27% (in line with 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.7%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Software industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 22
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: NT$0.82 (down from NT$1.00 in 2Q 2024). Revenue: NT$422.6m (up 9.9% from 2Q 2024). Net income: NT$93.9m (down 20% from 2Q 2024). Profit margin: 22% (down from 31% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 11%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Software industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Board Change • Jun 11
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Chien-Nan Hsieh was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Jun 03
Upcoming dividend of NT$1.74 per share Eligible shareholders must have bought the stock before 10 June 2025. Payment date: 11 July 2025. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.8%). Ankündigung • May 24
91APP, Inc. Approves the Appointment of Hsieh, Chien-Nan as Independent Director 91APP, Inc. at its 2025 Annual Shareholders' Meeting held on May 23, 2025, approved the appointment of Hsieh, Chien-Nan as Independent Director. Reported Earnings • May 16
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: NT$1.15 (up from NT$1.02 in 1Q 2024). Revenue: NT$411.9m (up 11% from 1Q 2024). Net income: NT$134.1m (up 12% from 1Q 2024). Profit margin: 33% (in line with 1Q 2024). Revenue exceeded analyst estimates by 6.5%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Software industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Ankündigung • May 08
91APP, Inc. to Report Q1, 2025 Results on May 15, 2025 91APP, Inc. announced that they will report Q1, 2025 results on May 15, 2025 New Risk • Apr 13
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$341.8m (US$10.6m) 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to NT$66.00, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 28x in the Software industry in Asia. Total loss to shareholders of 56% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$126 per share. Ankündigung • Mar 07
91APP, Inc., Annual General Meeting, May 23, 2025 91APP, Inc., Annual General Meeting, May 23, 2025. Location: 2 floor no,327, t`i ting ta tao, neihu district, taipei city Taiwan Buy Or Sell Opportunity • Mar 03
Now 20% undervalued Over the last 90 days, the stock has risen 15% to NT$100.00. The fair value is estimated to be NT$125, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 41% in 2 years. Earnings are forecast to grow by 48% in the next 2 years. Ankündigung • Feb 27
91APP, Inc. to Report Fiscal Year 2024 Results on Mar 06, 2025 91APP, Inc. announced that they will report fiscal year 2024 results on Mar 06, 2025 Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$103, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 33x in the Software industry in Asia. Total loss to shareholders of 52% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$131 per share. Reported Earnings • Nov 18
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: NT$0.88 (down from NT$0.97 in 3Q 2023). Revenue: NT$381.3m (up 18% from 3Q 2023). Net income: NT$104.3m (down 8.6% from 3Q 2023). Profit margin: 27% (down from 35% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 3.5%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Software industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 23
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: NT$1.00 (up from NT$0.84 in 2Q 2023). Revenue: NT$384.5m (up 18% from 2Q 2023). Net income: NT$117.9m (up 19% from 2Q 2023). Profit margin: 31% (in line with 2Q 2023). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 8.0%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Software industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Ankündigung • Aug 23
91APP, Inc. Announces Appointment of Yu,Pei-Yu as Member of Remuneration Committee 91APP, Inc. announced the appointment of Yu,Pei-Yu as member of Remuneration Committee. Resume of the new position holder: Independent, Non-executive Director, Member of Audit Committee and Remuneration Committee of The a2 Milk Company Ltd. Original term from August 17, 2022 to June 8, 2025. Effective date of the new member: August 22, 2024. Ankündigung • Aug 15
91App, Inc. to Report Q2, 2024 Results on Aug 22, 2024 91App, Inc. announced that they will report Q2, 2024 results on Aug 22, 2024 Declared Dividend • Jul 03
Dividend of NT$0.95 announced Shareholders will receive a dividend of NT$0.95. Ex-date: 16th July 2024 Payment date: 16th August 2024 Dividend yield will be 1.0%, which is lower than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (25% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 41% per year over the past 2 years and payments have been stable during that time. EPS is expected to grow by 23% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 08
First quarter 2024 earnings released: EPS: NT$1.02 (vs NT$0.64 in 1Q 2023) First quarter 2024 results: EPS: NT$1.02 (up from NT$0.64 in 1Q 2023). Revenue: NT$372.3m (up 15% from 1Q 2023). Net income: NT$120.0m (up 58% from 1Q 2023). Profit margin: 32% (up from 24% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Software industry in Asia. Buy Or Sell Opportunity • Apr 18
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to NT$86.70. The fair value is estimated to be NT$109, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 39% in 2 years. Earnings are forecast to grow by 65% in the next 2 years. Reported Earnings • Mar 19
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: NT$3.37 (up from NT$2.83 in FY 2022). Revenue: NT$1.39b (up 10.0% from FY 2022). Net income: NT$398.2m (up 18% from FY 2022). Profit margin: 29% (up from 27% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.5%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Software industry in Asia. Ankündigung • Mar 15
91App, Inc. Approves Cash Dividend for the Year Ended December 31, 2023 91App, Inc. announced the board of directors approved cash dividend of TWD 0.95 per share for the year ended December 31, 2023. Total amount of cash dividends to shareholders is TWD 112,174,097. Ankündigung • Mar 07
91App, Inc. Announces the Resignation of Chuang, Fong-Ping as Director 91App, Inc. announced the resignation of Chuang,Fong-Ping as Director. Reason for the change is Heavy workload. Major Estimate Revision • Nov 15
Consensus EPS estimates increase by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from NT$1.39b to NT$1.42b. EPS estimate increased from NT$3.47 to NT$3.83 per share. Net income forecast to grow 29% next year vs 46% growth forecast for Software industry in Taiwan. Consensus price target down from NT$166 to NT$156. Share price was steady at NT$102 over the past week. Major Estimate Revision • Sep 14
Consensus revenue estimates fall by 11% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$1.53b to NT$1.36b. EPS estimate fell from NT$3.77 to NT$3.42 per share. Net income forecast to grow 29% next year vs 43% growth forecast for Software industry in Taiwan. Consensus price target down from NT$172 to NT$164. Share price rose 4.0% to NT$105 over the past week. Reported Earnings • Aug 19
Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2023 results: EPS: NT$0.84 (up from NT$0.60 in 2Q 2022). Revenue: NT$324.9m (up 9.8% from 2Q 2022). Net income: NT$98.9m (up 37% from 2Q 2022). Profit margin: 30% (up from 24% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 8.2%. Earnings per share (EPS) exceeded analyst estimates by 5.2%. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Software industry in Asia. Upcoming Dividend • Jul 10
Upcoming dividend of NT$0.70 per share at 0.5% yield Eligible shareholders must have bought the stock before 17 July 2023. Payment date: 17 August 2023. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (2.4%). Ankündigung • Jul 01
91App, Inc. Announces Cash Dividend, Payable on August 17, 2023 91App, Inc. announced a cash dividend in the total amount of TWD 82,654,598. Ex-rights (Ex-dividend) date is July 17, 2023. Ex-rights (Ex-dividend) record date is July 23, 2023. The payment date of cash dividend distribution is August 17, 2023. Reported Earnings • May 13
First quarter 2023 earnings released: EPS: NT$0.64 (vs NT$0.55 in 1Q 2022) First quarter 2023 results: EPS: NT$0.64 (up from NT$0.55 in 1Q 2022). Revenue: NT$323.6m (up 15% from 1Q 2022). Net income: NT$76.1m (up 14% from 1Q 2022). Profit margin: 24% (in line with 1Q 2022). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Software industry in Asia. Ankündigung • May 13
91App, Inc. Approves the Appointment of Wei,Yun-Ting as Corporate Governance Officer 91App, Inc. approved the appointment of Wei,Yun-Ting, Assistant Manager of Accounting Division as Corporate Governance Officer, effective May 11, 2023. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to NT$146, the stock trades at a trailing P/E ratio of 50.8x. Average forward P/E is 29x in the Software industry in Taiwan. Total returns to shareholders of 12% over the past year. Reported Earnings • Mar 15
Full year 2022 earnings released: EPS: NT$2.83 (vs NT$2.59 in FY 2021) Full year 2022 results: EPS: NT$2.83 (up from NT$2.59 in FY 2021). Revenue: NT$1.26b (up 15% from FY 2021). Net income: NT$337.9m (up 13% from FY 2021). Profit margin: 27% (in line with FY 2021). Valuation Update With 7 Day Price Move • Dec 21
Investor sentiment improved over the past week After last week's 22% share price gain to NT$111, the stock trades at a trailing P/E ratio of 41.2x. Average forward P/E is 26x in the Software industry in Taiwan. Total loss to shareholders of 59% over the past year. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improved over the past week After last week's 16% share price gain to NT$96.00, the stock trades at a trailing P/E ratio of 35.6x. Average forward P/E is 27x in the Software industry in Taiwan. Total loss to shareholders of 67% over the past 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. 3 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Hsi-Peng Lu 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. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.67 (vs NT$0.63 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.67 (up from NT$0.63 in 3Q 2021). Revenue: NT$296.8m (up 8.8% from 3Q 2021). Net income: NT$79.7m (up 5.1% from 3Q 2021). Profit margin: 27% (down from 28% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Software industry in Asia. Valuation Update With 7 Day Price Move • Sep 23
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$81.40, the stock trades at a trailing P/E ratio of 30x. Average trailing P/E is 15x in the Software industry in Taiwan. Total loss to shareholders of 62% over the past year. Ankündigung • Aug 18
91App, Inc. Announces Executive Changes 91App, Inc. announced Resume of the previous position holder Lu,Hsi-Peng,Distinguished Professor, Department of Information Management, National Taiwan University of Science and Technology Huang,Chun-Yao,Professor, College of Management,National Taiwan University Lu,Wen-Hsiu,Vice President of Human Resources,Sercomm Corporation 5.Name of the new position holder:Lu,Hsi-Peng,Huang,Chun-Yao,Chi,Mei-Na 6.Resume of the new position holder: Lu,Hsi-Peng,Distinguished Professor, Department of Information Management, National Taiwan University of Science and Technology Huang,Chun-Yao,Professor, College of Management,National Taiwan University Chi,Mei-Na,CFO of I POINT CO., LTD. Effective date of the new member Au. 17, 2022. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment deteriorated over the past week After last week's 18% share price decline to NT$111, the stock trades at a trailing P/E ratio of 40.9x. Average trailing P/E is 14x in the Software industry in Taiwan. Total loss to shareholders of 66% over the past year. Ankündigung • Jul 05
91App, Inc. Announces Cash Dividend, Payable on August 11, 2022 91App, Inc. announced cash dividend in total amount of TWD 57,877,439. Ex-rights (Ex-dividend) date is July 20, 2022. Ex-rights (Ex-dividend) record date is July 26, 2022. Payment date of cash dividend distribution is August 11, 2022. Type and monetary amount of original dividend distribution: Cash dividend: total amount TWD 57,877,439. TWD 0.48 per share. Type and monetary amount of dividend distribution after the change: Cash dividend: total amount TWD 57,877,439. TWD 0.49016277 per share. Reported Earnings • May 02
Full year 2021 earnings released: EPS: NT$2.58 (vs NT$1.92 in FY 2020) Full year 2021 results: EPS: NT$2.58 (up from NT$1.92 in FY 2020). Revenue: NT$1.10b (up 26% from FY 2020). Net income: NT$298.4m (up 45% from FY 2020). Profit margin: 27% (up from 24% in FY 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$166, the stock trades at a trailing P/E ratio of 69.7x. Average trailing P/E is 16x in the Software industry in Taiwan.