New Risk • Mar 30
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 161% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (NT$828.3m market cap, or US$25.9m). Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$13.10, the stock trades at a trailing P/E ratio of 32.6x. Average trailing P/E is 30x in the Communications industry in Taiwan. Total returns to shareholders of 1.6% over the past three years. Reported Earnings • Mar 12
Full year 2025 earnings released: EPS: NT$0.40 (vs NT$0.45 in FY 2024) Full year 2025 results: EPS: NT$0.40 (down from NT$0.45 in FY 2024). Revenue: NT$373.3m (down 34% from FY 2024). Net income: NT$27.7m (down 10.0% from FY 2024). Profit margin: 7.4% (up from 5.5% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Bekanntmachung • Mar 03
Z-Com, Inc., Annual General Meeting, May 20, 2026 Z-Com, Inc., Annual General Meeting, May 20, 2026. Location: 2 floor no,2, chan yeh 1st rd., hsinchu science park, hsinchu city Taiwan Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: NT$0.24 (vs NT$0.10 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.24 (up from NT$0.10 in 3Q 2024). Revenue: NT$68.4m (down 57% from 3Q 2024). Net income: NT$16.9m (up 141% from 3Q 2024). Profit margin: 25% (up from 4.4% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. New Risk • Oct 07
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 6.6% 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: Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Market cap is less than US$100m (NT$877.2m market cap, or US$28.8m). Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to NT$12.70, the stock trades at a trailing P/E ratio of 18x. Average trailing P/E is 21x in the Communications industry in Taiwan. Total returns to shareholders of 37% over the past three years. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$11.75, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 25x in the Communications industry in Taiwan. Total returns to shareholders of 12% over the past three years. Reported Earnings • Aug 07
Second quarter 2025 earnings released: NT$0.09 loss per share (vs NT$0.041 loss in 2Q 2024) Second quarter 2025 results: NT$0.09 loss per share (further deteriorated from NT$0.041 loss in 2Q 2024). Revenue: NT$89.7m (down 6.7% from 2Q 2024). Net loss: NT$6.08m (loss widened 115% from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$0.17 (vs NT$0.14 loss in 1Q 2024) First quarter 2025 results: EPS: NT$0.17 (up from NT$0.14 loss in 1Q 2024). Revenue: NT$127.2m (up 55% from 1Q 2024). Net income: NT$11.8m (up NT$21.3m from 1Q 2024). Profit margin: 9.2% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Bekanntmachung • Apr 29
Z-Com, Inc. to Report Q1, 2025 Results on May 07, 2025 Z-Com, Inc. announced that they will report Q1, 2025 results on May 07, 2025 Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$11.95, the stock trades at a trailing P/E ratio of 26.8x. Average trailing P/E is 25x in the Communications industry in Taiwan. Total returns to shareholders of 3.0% over the past three years. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$11.35, the stock trades at a trailing P/E ratio of 25.5x. Average trailing P/E is 22x in the Communications industry in Taiwan. Total returns to shareholders of 21% over the past three years. New Risk • Apr 07
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: Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (NT$861.3m market cap, or US$26.1m). Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$0.45 (vs NT$0.083 in FY 2023) Full year 2024 results: EPS: NT$0.45 (up from NT$0.083 in FY 2023). Revenue: NT$562.3m (up 30% from FY 2023). Net income: NT$30.8m (up 435% from FY 2023). Profit margin: 5.5% (up from 1.3% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Bekanntmachung • Mar 06
Z-Com, Inc., Annual General Meeting, May 27, 2025 Z-Com, Inc., Annual General Meeting, May 27, 2025. Location: 2 floor no,2, chan yeh 1st rd., hsinchu city Taiwan Bekanntmachung • Feb 25
Z-Com, Inc. to Report Q4, 2024 Results on Mar 05, 2025 Z-Com, Inc. announced that they will report Q4, 2024 results on Mar 05, 2025 New Risk • Dec 04
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 8.3% 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.3% average weekly change). Minor Risk Market cap is less than US$100m (NT$1.20b market cap, or US$37.1m). Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.10 (vs NT$0.29 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.10 (down from NT$0.29 in 3Q 2023). Revenue: NT$158.1m (up 1.9% from 3Q 2023). Net income: NT$7.02m (down 66% from 3Q 2023). Profit margin: 4.4% (down from 13% 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 85% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to NT$15.95, the stock trades at a trailing P/E ratio of 53.1x. Average trailing P/E is 24x in the Communications industry in Taiwan. Total returns to shareholders of 91% over the past three years. Bekanntmachung • Oct 22
Z-Com, Inc. to Report Q3, 2024 Results on Oct 30, 2024 Z-Com, Inc. announced that they will report Q3, 2024 results on Oct 30, 2024 Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$17.25, the stock trades at a trailing P/E ratio of 57.4x. Average trailing P/E is 25x in the Communications industry in Taiwan. Total returns to shareholders of 108% over the past three years. Reported Earnings • Aug 18
Second quarter 2024 earnings released: NT$0.04 loss per share (vs NT$0.067 loss in 2Q 2023) Second quarter 2024 results: NT$0.04 loss per share (improved from NT$0.067 loss in 2Q 2023). Revenue: NT$96.2m (down 9.2% from 2Q 2023). Net loss: NT$2.82m (loss narrowed 40% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$12.65, the stock trades at a trailing P/E ratio of 46.2x. Average trailing P/E is 25x in the Communications industry in Taiwan. Total returns to shareholders of 42% over the past three years. Bekanntmachung • Jul 27
Z-Com, Inc. to Report Q2, 2024 Results on Aug 05, 2024 Z-Com, Inc. announced that they will report Q2, 2024 results on Aug 05, 2024 Reported Earnings • May 19
First quarter 2024 earnings released: NT$0.14 loss per share (vs NT$0.33 loss in 1Q 2023) First quarter 2024 results: NT$0.14 loss per share (improved from NT$0.33 loss in 1Q 2023). Revenue: NT$82.1m (up 38% from 1Q 2023). Net loss: NT$9.50m (loss narrowed 58% from 1Q 2023). 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 17% per year, which means it is significantly lagging earnings growth. Bekanntmachung • May 03
Z-Com, Inc. to Report Q4, 2024 Results on May 07, 2024 Z-Com, Inc. announced that they will report Q4, 2024 results on May 07, 2024 Reported Earnings • Mar 16
Full year 2023 earnings released: EPS: NT$0.08 (vs NT$0.94 loss in FY 2022) Full year 2023 results: EPS: NT$0.08 (up from NT$0.94 loss in FY 2022). Revenue: NT$431.9m (up 33% from FY 2022). Net income: NT$5.76m (up NT$70.6m from FY 2022). Profit margin: 1.3% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Bekanntmachung • Mar 12
Z-Com, Inc. Unveils Cutting-Edge 5G Smart Transportation Solution At 2024 Smart City Summit & Expo in Taipei Z-COM is set to exhibit its innovative 5G smart transportation solutions at the upcoming 2024 Smart City Summit & Expo in Taipei from March 19 to 22, 2024. The showcase will highlight the "5G-driven Intelligent Transportation Technology and Service Innovation and Industry Development Program", sponsored by the Ministry of Transportation and Communication (MOTC), with a focus on the "Danhai Light Rail" project. To accelerate the digital transformation in transportation, MOTC initiated a five-year plan in 2021, investing over TWD 300 Million to propel various ITC companies in the development of 5G smart transportation and innovative applications. In alignment with the government's initiative, Z-COM collaborated with partners in 2023, leveraging advanced communication to enhance the service efficiency of the Danhai Light Rail operated by the New Taipei Metro Corporation. Key highlights of Z-COM's project include: Heterogeneous Network Integration: Leveraging the ultra-low latency and high-speed capabilities of 5G integrated with Wi-Fi 6 technology, Z-COM's solution significantly improves transmission efficiency for the Danhai Light Rail, resulting in an enhanced average train speed. AI/ML Analysis of Big Data: The project seamlessly integrates various IoT devices and sensors, utilizing Z-COM's AI/ML technology to monitor the temperature of pantographs and cables on trains, as well as traffic signals and foreign object detection at intersections. This real-time information benefits train drivers and control centers, leading to improve operational efficiency, reduce cost, and enhance system security. Bidirectional Cybersecurity Protection: Z-COM integrates AI-generated cybersecurity firewalls in both the gateway and zMEC at edge, automatically learning the network behavior of zMEC containers to establish a robust security protection mechanism. Project Highlights: Ultra-Low Latency, Super-High Network Speed: Harnessing the characteristics of high bandwidth and low latency of 5G NR and Wi-Fi 6, the project integrates wireless and wired network nodes, providing intelligent management to increase transmission efficiency. Visualized Display of Recommended Speeds: Utilizing a visual approach to suggest speeds to the train driver,aiding the effective management for the control center. Bidirectional Security Anomaly Visualization: Establishing a bidirectional security anomaly visualization system improves the security schemes. Z-COM's project is poised to become a paradigm for the successful integration of light rail traffic and urban traffic control, offering a model for other cities to enhance operational efficiency while prioritizing safety, reducing travel time, and elevating the quality of services for increased passenger satisfaction. Bekanntmachung • Mar 07
Z-Com, Inc., Annual General Meeting, May 24, 2024 Z-Com, Inc., Annual General Meeting, May 24, 2024. Location: 2nd Floor, No. 2, Zhanye 1st Road, Hsinchu Science Park, Taiwan Hsinchu Taiwan Agenda: To consider 2023 Business Report; 2023 Audit Committee Audit Report; Amendments to the report on the Standards of Procedures of the Board of Directors; Amendments to the report on the Sustainable Development Best Practice Principles; Adoption of the Business Report and the Financial Statements for fiscal year 2023; Amendments to the Rules of Procedure for Shareholders' Meetings; and to discuss other matters. New Risk • Oct 12
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 6.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 51% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.0% average weekly change). Market cap is less than US$100m (NT$888.1m market cap, or US$27.7m). Reported Earnings • Aug 17
Second quarter 2023 earnings released: NT$0.07 loss per share (vs NT$0.23 loss in 2Q 2022) Second quarter 2023 results: NT$0.07 loss per share (improved from NT$0.23 loss in 2Q 2022). Revenue: NT$105.9m (up 51% from 2Q 2022). Net loss: NT$4.66m (loss narrowed 70% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 8% per year. Reported Earnings • Nov 19
Third quarter 2022 earnings released: EPS: NT$0.09 (vs NT$0.45 loss in 3Q 2021) Third quarter 2022 results: EPS: NT$0.09 (up from NT$0.45 loss in 3Q 2021). Revenue: NT$116.0m (up 176% from 3Q 2021). Net income: NT$6.33m (up NT$37.5m from 3Q 2021). Profit margin: 5.5% (up from net loss in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. 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. 11 experienced directors. 1 highly experienced director. 3 independent directors (9 non-independent directors). Independent Director Yuan Liang Su 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. Bekanntmachung • Jun 10
Z-Com, Inc. Announces Board Changes Z-Com, Inc. announced that changes in accounting director and acting spokesperson. Name, title, and resume of the previous position holder: YA XI JUN, Deputy Manager,Accounting officer of Z-COM,INC. Name, title, and resume of the new position holder: Zhuang Huihua, Deputy Director of GIGGA SOLAR MATERIASL CORP. Reported Earnings • May 19
First quarter 2022 earnings released: NT$0.44 loss per share (vs NT$0.49 loss in 1Q 2021) First quarter 2022 results: NT$0.44 loss per share (up from NT$0.49 loss in 1Q 2021). Revenue: NT$42.4m (down 43% from 1Q 2021). Net loss: NT$30.7m (loss narrowed 9.1% from 1Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. 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. 9 non-independent directors. Independent Director Yuan Liang Su 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 • Apr 04
Full year 2021 earnings released: NT$0.88 loss per share (vs NT$1.27 loss in FY 2020) Full year 2021 results: NT$0.88 loss per share (up from NT$1.27 loss in FY 2020). Revenue: NT$259.8m (down 37% from FY 2020). Net loss: NT$61.0m (loss narrowed 31% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 17
Third quarter 2021 earnings released: NT$0.45 loss per share (vs NT$0.24 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: NT$42.0m (down 64% from 3Q 2020). Net loss: NT$31.2m (loss widened 89% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 119 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 18
Second quarter 2021 earnings released: NT$0.46 loss per share (vs NT$0.20 loss in 2Q 2020) The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: NT$79.5m (down 23% from 2Q 2020). Net loss: NT$31.6m (loss widened 132% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 117 percentage points per year, which is a significant difference in performance. Executive Departure • Jun 18
Accounting Officer Yi Huang has left the company On the 11th of June, Yi Huang's tenure as Accounting Officer ended after 2.4 years in the role. We don't have any record of a personal shareholding under Yi's name. Yi is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 2.42 years. Reported Earnings • May 16
First quarter 2021 earnings released: NT$0.49 loss per share (vs NT$0.43 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: NT$74.4m (down 2.2% from 1Q 2020). Net loss: NT$33.8m (loss widened 12% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 109 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 13
Full year 2020 earnings released: NT$1.27 loss per share (vs NT$0.21 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: NT$412.0m (down 62% from FY 2019). Net loss: NT$87.9m (down NT$102.3m from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Bekanntmachung • Mar 10
Z-Com, Inc., Annual General Meeting, May 27, 2021 Z-Com, Inc., Annual General Meeting, May 27, 2021. Location: 2F,No.2,Prosperity Rd 1,Science Park Hsinchu Taiwan Agenda: To consider 2020 business report; to audit committee's review report of the financial statements for fiscal year 2020; to amendments to the code of ethical conduct; to adoption of the business report and the financial statements for fiscal year 2020; to adoption of the proposal for distribution of loss for fiscal year 2020; and to consider other matter. Is New 90 Day High Low • Dec 21
New 90-day high: NT$9.63 The company is up 7.0% from its price of NT$8.96 on 23 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Communications industry, which is up 18% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: NT$0.24 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: NT$116.1m (down 61% from 3Q 2019). Net loss: NT$16.5m (down 153% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 82% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. 
