Board Change • Jun 01
Insufficient new directors 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. 2 highly experienced directors. Independent Director Gin Ing Hu was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to NT$516, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 22x in the Electronic industry in Taiwan. Total returns to shareholders of 414% over the past three years. Reported Earnings • May 14
First quarter 2026 earnings: EPS exceeds analyst expectations First quarter 2026 results: EPS: NT$1.33 (up from NT$0.66 in 1Q 2025). Revenue: NT$40.7b (up 1.6% from 1Q 2025). Net income: NT$1.43b (up 125% from 1Q 2025). Profit margin: 3.5% (up from 1.6% in 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 45%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 59% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 23
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to NT$325, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 233% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$138 per share. Price Target Changed • Apr 18
Price target increased by 7.4% to NT$240 Up from NT$223, the current price target is an average from 9 analysts. New target price is 15% below last closing price of NT$282. Stock is up 201% over the past year. The company is forecast to post earnings per share of NT$12.24 for next year compared to NT$6.91 last year. New Risk • Apr 09
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 11% 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 (11% average weekly change). Minor Risk Profit margins are more than 30% lower than last year (3.7% net profit margin). Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to NT$263, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 164% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$127 per share. Declared Dividend • Apr 04
Dividend reduced to NT$3.45 Dividend of NT$3.45 is 28% lower than last year. Ex-date: 8th June 2026 Payment date: 13th July 2026 Dividend yield will be 1.6%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (50% 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. EPS is expected to grow by 93% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to NT$211, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 20x in the Electronic industry in Taiwan. Total returns to shareholders of 118% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$119 per share. Price Target Changed • Mar 13
Price target increased by 10% to NT$204 Up from NT$185, the current price target is an average from 10 analysts. New target price is 8.1% above last closing price of NT$189. Stock is up 70% over the past year. The company is forecast to post earnings per share of NT$12.23 for next year compared to NT$6.91 last year. Ankündigung • Mar 13
Zhen Ding Technology Holding Limited, Annual General Meeting, May 29, 2026 Zhen Ding Technology Holding Limited, Annual General Meeting, May 29, 2026. Location: 1 floor no,6 ln.28, san huo rd., san shih li, dayuan dist., taoyuan city Taiwan Reported Earnings • Mar 13
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: NT$6.91 (down from NT$9.67 in FY 2024). Revenue: NT$182.5b (up 6.3% from FY 2024). Net income: NT$6.79b (down 26% from FY 2024). Profit margin: 3.7% (down from 5.3% 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 11%. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Feb 24
Now 29% overvalued after recent price rise Over the last 90 days, the stock has risen 51% to NT$212. The fair value is estimated to be NT$165, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.2% over the last 3 years. Earnings per share has declined by 19%. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 73% in the next 2 years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$212, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 115% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$162 per share. Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$168, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 78% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$271 per share. Reported Earnings • Nov 12
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: NT$2.46 (down from NT$3.52 in 3Q 2024). Revenue: NT$47.4b (down 6.4% from 3Q 2024). Net income: NT$2.39b (down 29% from 3Q 2024). Profit margin: 5.0% (down from 6.6% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.9%. Earnings per share (EPS) also missed analyst estimates by 38%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$193, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 93% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$365 per share. Reported Earnings • Aug 13
Second quarter 2025 earnings: Revenues miss analyst expectations Second quarter 2025 results: Revenue: NT$38.2b (up 18% from 2Q 2024). Net income: NT$1.39b (up 186% from 2Q 2024). Profit margin: 3.6% (up from 1.5% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.1%. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electronic industry in Taiwan. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$142, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 37% over the past three years. Upcoming Dividend • Jun 05
Upcoming dividend of NT$4.80 per share Eligible shareholders must have bought the stock before 12 June 2025. Payment date: 16 July 2025. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (3.3%). Ankündigung • May 30
Zhen Ding Technology Holding Limited Approves Cash Dividend for the Year 2024 Zhen Ding Technology Holding Limited announced at annual general meeting held on May 29, 2025, the shareholders approved the distribution of 2024 profit. Cash dividend of TWD 4.8 per common share. Reported Earnings • May 14
First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2025 results: EPS: NT$0.66 (down from NT$1.03 in 1Q 2024). Revenue: NT$40.1b (up 23% from 1Q 2024). Net income: NT$632.5m (down 35% from 1Q 2024). Profit margin: 1.6% (down from 3.0% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 7.2%. Earnings per share (EPS) missed analyst estimates by 34%. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Ankündigung • May 06
Zhen Ding Technology Holding Limited to Report Q1, 2025 Results on May 13, 2025 Zhen Ding Technology Holding Limited announced that they will report Q1, 2025 results on May 13, 2025 Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$86.40, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Electronic industry in Taiwan. Total loss to shareholders of 9.1% over the past three years. Declared Dividend • Apr 02
Dividend of NT$4.80 announced Shareholders will receive a dividend of NT$4.80. Ex-date: 12th June 2025 Payment date: 16th July 2025 Dividend yield will be 4.4%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is well covered by both earnings (50% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has increased by an average of 1.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 12% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Ankündigung • Mar 13
Zhen Ding Technology Holding Limited, Annual General Meeting, May 29, 2025 Zhen Ding Technology Holding Limited, Annual General Meeting, May 29, 2025, at 09:00 Taipei Standard Time. Location: 1 floor no,6 ln.28, san huo rd., san shih li, dayuan dist., taoyuan city Taiwan Reported Earnings • Mar 13
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: NT$9.67 (up from NT$6.55 in FY 2023). Revenue: NT$171.7b (up 13% from FY 2023). Net income: NT$9.18b (up 48% from FY 2023). Profit margin: 5.3% (up from 4.1% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.1%. Revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Price Target Changed • Mar 12
Price target decreased by 9.2% to NT$136 Down from NT$149, the current price target is an average from 9 analysts. New target price is 20% above last closing price of NT$113. Stock is up 4.6% over the past year. The company is forecast to post earnings per share of NT$9.29 for next year compared to NT$6.55 last year. Major Estimate Revision • Mar 12
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$191.5b to NT$187.7b. EPS estimate also fell from NT$10.72 per share to NT$9.42 per share. Net income forecast to grow 13% next year vs 31% growth forecast for Electronic industry in Taiwan. Consensus price target down from NT$142 to NT$137. Share price fell 2.6% to NT$113 over the past week. Ankündigung • Mar 04
Zhen Ding Technology Holding Limited to Report Fiscal Year 2024 Results on Mar 11, 2025 Zhen Ding Technology Holding Limited announced that they will report fiscal year 2024 results on Mar 11, 2025 Ankündigung • Feb 20
Zhen Ding Technology Holding Limited Announces Resignation of Chen-Fu Chien as Independent Director and Member of Committees, Effective February 27, 2025 Zhen Ding Technology Holding Limited announced that the company received the resignation letter from Independent Director Chen-Fu Chien on February 19, 2025, and the effective date of the resignation is February 27, 2025. The independent director resigned from the position of independent director and also resigned from the member of the Audit and Risk Committee, the Remuneration Committee, and the Corporate Governance, Sustainability and Nominating Committee. Reason for the change: Personal plan. Major Estimate Revision • Nov 15
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from NT$169.9b to NT$171.7b. EPS estimate increased from NT$8.40 to NT$9.29 per share. Net income forecast to grow 27% next year vs 25% growth forecast for Electronic industry in Taiwan. Consensus price target broadly unchanged at NT$149. Share price was steady at NT$118 over the past week. Reported Earnings • Nov 09
Third quarter 2024 earnings: Revenues exceed analyst expectations Third quarter 2024 results: Revenue: NT$50.6b (up 21% from 3Q 2023). Net income: NT$3.35b (up 48% from 3Q 2023). Profit margin: 6.6% (up from 5.4% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 8.5%. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Reported Earnings • Aug 14
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: NT$0.51 (up from NT$0.095 loss in 2Q 2023). Revenue: NT$32.4b (up 38% from 2Q 2023). Net income: NT$485.9m (up NT$575.6m from 2Q 2023). Profit margin: 1.5% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 21%. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Ankündigung • Aug 06
Zhen Ding Technology Holding Limited to Report Q2, 2024 Results on Aug 13, 2024 Zhen Ding Technology Holding Limited announced that they will report Q2, 2024 results on Aug 13, 2024 Ankündigung • May 31
Zhen Ding Technology Holding Limited Approves Cash Dividend for 2023 Zhen Ding Technology Holding Limited at the AGM held on May 30, 2024, approved cash dividend for 2023 of TWD 3.275 per common share. Upcoming Dividend • May 30
Upcoming dividend of NT$3.28 per share Eligible shareholders must have bought the stock before 06 June 2024. Payment date: 12 July 2024. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (4.3%). In line with average of industry peers (2.8%). Reported Earnings • May 12
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: NT$1.03 (up from NT$0.53 in 1Q 2023). Revenue: NT$32.5b (up 3.1% from 1Q 2023). Net income: NT$977.4m (up 94% from 1Q 2023). Profit margin: 3.0% (up from 1.6% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 37%. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Ankündigung • May 05
Zhen Ding Technology Holding Limited to Report Q1, 2024 Results on May 10, 2024 Zhen Ding Technology Holding Limited announced that they will report Q1, 2024 results on May 10, 2024 Price Target Changed • Apr 08
Price target increased by 7.5% to NT$127 Up from NT$118, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of NT$130. Stock is up 16% over the past year. The company is forecast to post earnings per share of NT$9.53 for next year compared to NT$6.55 last year. Price Target Changed • Apr 02
Price target increased by 11% to NT$125 Up from NT$112, the current price target is an average from 9 analysts. New target price is 5.4% below last closing price of NT$132. Stock is up 16% over the past year. The company is forecast to post earnings per share of NT$9.53 for next year compared to NT$6.55 last year. Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$132, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$79.92 per share. Declared Dividend • Mar 31
Dividend of NT$3.28 announced Shareholders will receive a dividend of NT$3.28. Ex-date: 6th June 2024 Payment date: 12th July 2024 Dividend yield will be 2.6%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (39% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 79% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Ankündigung • Mar 13
Zhen Ding Technology Holding Limited, Annual General Meeting, May 30, 2024 Zhen Ding Technology Holding Limited, Annual General Meeting, May 30, 2024. Reported Earnings • Mar 13
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: NT$6.55 (down from NT$15.02 in FY 2022). Revenue: NT$151.4b (down 12% from FY 2022). Net income: NT$6.19b (down 56% from FY 2022). Profit margin: 4.1% (down from 8.3% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.9%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jan 24
Now 21% undervalued Over the last 90 days, the stock has risen 5.3% to NT$101. The fair value is estimated to be NT$128, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.2% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 19% in 2 years. Earnings are forecast to grow by 64% in the next 2 years. Buying Opportunity • Jan 10
Now 20% undervalued Over the last 90 days, the stock is up 2.5%. The fair value is estimated to be NT$130, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.2% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 19% in 2 years. Earnings is forecast to grow by 65% in the next 2 years. Ankündigung • Dec 19
Zhen Ding Technology Holding Limited Establishes Risk Management Committee and Appoint Members Zhen Ding Technology Holding Limited announced that BOD resolved to establish the Risk Management Committee and appoint members. Name of the new position holder: CHANG-FANG SHEN, SHIN-CHENG YEH, GIN-ING HU. Resume of the new position holder: Director: CHANG-FANG SHEN/Chairperson of ZDT, Independent Director: SHIN-CHENG YEH/Professor of the Graduate Institute of Sustainability Management and Environmental Education, National Taiwan Normal University, Independent Director: GIN-ING HU/Chairperson of Freetech Investment Co. Ltd. Effective date of the new member: December 18, 2023. Reported Earnings • Nov 11
Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2023 results: EPS: NT$2.40 (down from NT$5.28 in 3Q 2022). Revenue: NT$41.9b (down 16% from 3Q 2022). Net income: NT$2.27b (down 54% from 3Q 2022). Profit margin: 5.4% (down from 10.0% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 6.9%. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Major Estimate Revision • Aug 16
Consensus EPS estimates fall by 26% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$161.9b to NT$148.5b. EPS estimate also fell from NT$9.85 per share to NT$7.30 per share. Net income forecast to shrink 17% next year vs 5.1% growth forecast for Electronic industry in Taiwan . Consensus price target down from NT$123 to NT$113. Share price fell 8.3% to NT$96.30 over the past week. Ankündigung • Aug 11
Zhen Ding Technology Holding Limited Announces Change of President Zhen Ding Technology Holding Limited announced the change of the President. Name of the previous position holder: Ting-Chuan Lee; Resume of the previous position holder: President of ZDT. Name of the new position holder: Chang-Fang Shen; Resume of the new position holder: Chairperson of ZDT. Effective date of the new appointment is August 09, 2023. Price Target Changed • Aug 11
Price target decreased by 8.1% to NT$113 Down from NT$123, the current price target is an average from 11 analysts. New target price is 18% above last closing price of NT$96.00. Stock is down 18% over the past year. The company is forecast to post earnings per share of NT$7.41 for next year compared to NT$15.02 last year. Reported Earnings • Aug 10
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: NT$0.09 loss per share (down from NT$2.79 profit in 2Q 2022). Revenue: NT$23.5b (down 32% from 2Q 2022). Net loss: NT$89.7m (down 103% from profit in 2Q 2022). Revenue missed analyst estimates by 7.4%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Electronic 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 10% per year, which means it is significantly lagging earnings. Price Target Changed • Jul 03
Price target decreased by 9.2% to NT$123 Down from NT$136, the current price target is an average from 11 analysts. New target price is 17% above last closing price of NT$106. Stock is up 8.1% over the past year. The company is forecast to post earnings per share of NT$9.85 for next year compared to NT$15.02 last year. Upcoming Dividend • May 29
Upcoming dividend of NT$6.00 per share at 5.2% yield Eligible shareholders must have bought the stock before 05 June 2023. Payment date: 10 July 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 5.2%. Lower than top quartile of Taiwanese dividend payers (5.7%). Higher than average of industry peers (4.4%). Major Estimate Revision • May 15
Consensus EPS estimates fall by 24% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$170.6b to NT$157.2b. EPS estimate also fell from NT$11.94 per share to NT$9.09 per share. Net income forecast to shrink 53% next year vs 14% decline forecast for Electronic industry in Taiwan. Consensus price target down from NT$137 to NT$128. Share price fell 9.1% to NT$105 over the past week. Reported Earnings • Mar 14
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: NT$15.02 (up from NT$10.21 in FY 2021). Revenue: NT$171.4b (up 11% from FY 2021). Net income: NT$14.2b (up 47% from FY 2021). Profit margin: 8.3% (up from 6.2% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) exceeded analyst estimates by 7.5%. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 11% per year. Reported Earnings • Nov 06
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: NT$5.27 (up from NT$3.25 in 3Q 2021). Revenue: NT$50.0b (up 20% from 3Q 2021). Net income: NT$4.98b (up 62% from 3Q 2021). Profit margin: 10.0% (up from 7.4% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) also surpassed analyst estimates by 33%. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Major Estimate Revision • Aug 17
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from NT$11.43 to NT$12.62. Revenue forecast steady at NT$174.6b. Net income forecast to grow 0.3% next year vs 6.5% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$127 to NT$139. Share price was steady at NT$118 over the past week. Reported Earnings • Aug 11
Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2022 results: EPS: NT$2.79 (up from NT$0.80 in 2Q 2021). Revenue: NT$34.5b (up 16% from 2Q 2021). Net income: NT$2.63b (up 247% from 2Q 2021). Profit margin: 7.6% (up from 2.6% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 10%, compared to a 8.5% growth forecast for the industry in Taiwan. 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 1% per year. Ankündigung • Aug 10
Zhen Ding Technology Holding Limited Announces Change of Accounting Officer, Financial Officer and Acting Spokesperson Zhen Ding Technology Holding Limited announced the Change of Accounting Officer, Financial Officer and Acting Spokesperson. Name, title, and resume of the previous position holder: Accounting officer: CHANG JIN-TEN, Manager. Financial officer: WANG YUAN SHENG, Assistant Vice President. Acting spokesperson: CHANG JIN-TEN, Manager. Name, title, and resume of the new position holder: Accounting officer: WANG YUAN SHENG, Assistant Vice President (previously served as financial officer). Financial officer: LIN TING HAO, Assistant Manager (previously served as assistant manager of overseas finance department). Acting spokesperson: LIN TING HAO, Assistant Manager (previously served as assistant manager of overseas finance department). Type of the change: Position adjustment. Reason for the change: Position adjustment. Effective date is August 9, 2022. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improved over the past week After last week's 15% share price gain to NT$109, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Electronic industry in Taiwan. Total returns to shareholders of 7.1% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$180 per share. Buying Opportunity • Jul 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be NT$117, 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, while earnings per share has been flat. Revenue is forecast to grow by 20% in 2 years. Earnings is forecast to grow by 36% in the next 2 years. Upcoming Dividend • Jun 13
Upcoming dividend of NT$5.00 per share Eligible shareholders must have bought the stock before 20 June 2022. Payment date: 08 July 2022. Payout ratio is a comfortable 45% but the company is not cash flow positive. Trailing yield: 4.4%. Lower than top quartile of Taiwanese dividend payers (6.0%). In line with average of industry peers (4.2%). Ankündigung • Jun 01
Zhen Ding Technology Holding Limited Announces Cash Dividend, Payable on July 08, 2022 Zhen Ding Technology Holding Limited announced cash dividend of TWD 4,735,245,805. Ex-rights (ex-dividend) trading date is June 20, 2022. Ex-rights (ex-dividend) record date is June 26, 2022 and Cash dividend will be contributed on July 08, 2022. Reported Earnings • May 14
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: NT$1.98 (up from NT$1.00 in 1Q 2021). Revenue: NT$33.9b (up 25% from 1Q 2021). Net income: NT$1.87b (up 98% from 1Q 2021). Profit margin: 5.5% (up from 3.5% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.8%. Earnings per share (EPS) also surpassed analyst estimates by 71%. Over the next year, revenue is forecast to grow 8.6%, compared to a 9.8% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Ankündigung • Apr 21
Qingding Precision Electronics (Huaian) Co., Ltd. Announces Executive Changes Qingding Precision Electronics (Huaian) Co. Ltd. announced Executive Changes. Title and name of the previous position holder: Director Yi-Hong Lin, Keng-Min Chi, and Supervisor Pen-Fu Liao. Resume of the previous position holder: Hongqisheng Precision Electronics (Qinhuangdao) directors and supervisor. Title and name of the new position holder: Director Fang-Hsien Hsu, An-Chih Lo, Jian-Jun Guo and Supervisor Li-Qun Fan. Effective date of the new appointment: April 20, 2022. Reported Earnings • Mar 17
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: NT$10.21 (up from NT$8.91 in FY 2020). Revenue: NT$155.0b (up 18% from FY 2020). Net income: NT$9.65b (up 19% from FY 2020). Profit margin: 6.2% (in line with FY 2020). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 11%, compared to a 8.7% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$3.25 (vs NT$1.81 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$41.6b (up 30% from 3Q 2020). Net income: NT$3.07b (up 89% from 3Q 2020). Profit margin: 7.4% (up from 5.1% in 3Q 2020). 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 but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Reported Earnings • Sep 02
Second quarter 2021 earnings released: EPS NT$0.80 (vs NT$1.41 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$29.8b (up 12% from 2Q 2020). Net income: NT$759.4m (down 40% from 2Q 2020). Profit margin: 2.6% (down from 4.8% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 23
Upcoming dividend of NT$4.50 per share Eligible shareholders must have bought the stock before 30 June 2021. Payment date: 30 July 2021. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (3.1%). Price Target Changed • May 23
Price target decreased to NT$126 Down from NT$140, the current price target is an average from 10 analysts. New target price is 37% above last closing price of NT$91.80. Stock is down 18% over the past year. Major Estimate Revision • May 13
Consensus EPS estimates fall to NT$9.23 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from NT$151.3b to NT$148.5b. EPS estimate also fell from NT$10.84 to NT$9.23. Net income forecast to grow 13% next year vs 24% growth forecast for Electronic industry in Taiwan. Consensus price target down from NT$140 to NT$129. Share price fell 7.0% to NT$91.80 over the past week. Price Target Changed • May 13
Price target decreased to NT$129 Down from NT$140, the current price target is an average from 10 analysts. New target price is 41% above last closing price of NT$91.80. Stock is down 19% over the past year. Reported Earnings • May 08
First quarter 2021 earnings released: EPS NT$1.00 (vs NT$0.97 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: NT$27.2b (up 55% from 1Q 2020). Net income: NT$947.8m (up 8.7% from 1Q 2020). Profit margin: 3.5% (down from 5.0% 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 4% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth.