Reported Earnings • Aug 11
Second quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2026 results: EPS: NT$0.72 (down from NT$1.48 in 2Q 2025). Revenue: NT$9.95b (up 3.0% from 2Q 2025). Net income: NT$361.3m (down 48% from 2Q 2025). Profit margin: 3.6% (down from 7.2% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 6.9%. Earnings per share (EPS) missed analyst estimates by 54%. Revenue is forecast to grow 6.5% p.a. on average during the next 2 years, compared to a 27% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Declared Dividend • Jun 26
Dividend of NT$2.60 announced Shareholders will receive a dividend of NT$2.60. Ex-date: 9th July 2026 Payment date: 29th July 2026 Dividend yield will be 2.6%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (50% earnings payout ratio) but not covered by cash flows (242% cash payout ratio). The dividend has increased by an average of 24% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 22% over the next year, which should provide support to the dividend and adequate earnings cover. New Risk • May 06
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 8.5% Last year net profit margin: 14% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (242% cash payout ratio). Profit margins are more than 30% lower than last year (8.5% net profit margin). Reported Earnings • May 06
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: EPS: NT$1.00. Revenue: NT$9.34b (up 81% from 1Q 2025). Net income: NT$795.8m (up 7.4% from 1Q 2025). Profit margin: 8.5% (down from 14% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) missed analyst estimates by 29%. Revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Electronic industry in Taiwan. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$105, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 21x in the Electronic industry in Taiwan. Total returns to shareholders of 252% over the past three years. Reported Earnings • Mar 13
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: NT$6.55 (up from NT$6.01 in FY 2024). Revenue: NT$33.7b (up 56% from FY 2024). Net income: NT$3.15b (up 11% from FY 2024). Profit margin: 9.3% (down from 13% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 11% 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 increased by 5% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$89.90, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 225% over the past three years. Ankündigung • Feb 25
Global Brands Manufacture Ltd., Annual General Meeting, Jun 18, 2026 Global Brands Manufacture Ltd., Annual General Meeting, Jun 18, 2026. Location: 1 floor no,223, sec.3 pei hsin rd., sindian district, new taipei city Taiwan Buy Or Sell Opportunity • Feb 03
Now 24% overvalued Over the last 90 days, the stock has fallen 8.8% to NT$109. The fair value is estimated to be NT$87.32, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 5.4%. Revenue is forecast to grow by 45% in 2 years. Earnings are forecast to grow by 74% in the next 2 years. Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$122, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 378% over the past three years. Buy Or Sell Opportunity • Nov 20
Now 29% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to NT$114. The fair value is estimated to be NT$88.28, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 5.4%. Reported Earnings • Nov 04
Third quarter 2025 earnings released: EPS: NT$1.96 (vs NT$1.90 in 3Q 2024) Third quarter 2025 results: EPS: NT$1.96 (up from NT$1.90 in 3Q 2024). Revenue: NT$9.57b (up 62% from 3Q 2024). Net income: NT$942.3m (up 4.5% from 3Q 2024). Profit margin: 9.8% (down from 15% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Sep 15
Global Brands Manufacture Ltd. has filed a Follow-on Equity Offering in the amount of TWD 159.375 million. Global Brands Manufacture Ltd. has filed a Follow-on Equity Offering in the amount of TWD 159.375 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,125,000
Price\Range: TWD 75 Valuation Update With 7 Day Price Move • Aug 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$120, the stock trades at a trailing P/E ratio of 19.9x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 372% over the past three years. Reported Earnings • Aug 12
Second quarter 2025 earnings released: EPS: NT$1.48 (vs NT$1.82 in 2Q 2024) Second quarter 2025 results: EPS: NT$1.48 (down from NT$1.82 in 2Q 2024). Revenue: NT$9.66b (up 70% from 2Q 2024). Net income: NT$698.8m (down 19% from 2Q 2024). Profit margin: 7.2% (down from 15% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 04
Dividend reduced to NT$3.01 Dividend of NT$3.01 is 8.8% lower than last year. Ex-date: 18th July 2025 Payment date: 6th August 2025 Dividend yield will be 3.5%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (47% earnings payout ratio) and cash flows (61% cash payout ratio). The dividend has increased by an average of 27% per year over the past 8 years. However, payments have been volatile during that time. Earnings per share has grown by 26% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Jul 03
Now 21% undervalued Over the last 90 days, the stock has risen 30% 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 declined by 7.1% over the last 3 years. Earnings per share has grown by 7.1%. Buy Or Sell Opportunity • May 29
Now 23% undervalued Over the last 90 days, the stock has risen 17% to NT$86.70. The fair value is estimated to be NT$113, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.1% over the last 3 years. Earnings per share has grown by 7.1%. Valuation Update With 7 Day Price Move • May 23
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$86.50, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 224% over the past three years. Reported Earnings • May 10
First quarter 2025 earnings released: EPS: NT$1.57 (vs NT$1.24 in 1Q 2024) First quarter 2025 results: EPS: NT$1.57 (up from NT$1.24 in 1Q 2024). Revenue: NT$5.16b (flat on 1Q 2024). Net income: NT$741.3m (up 27% from 1Q 2024). Profit margin: 14% (up from 11% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Apr 25
Global Brands Manufacture Ltd. to Report Q1, 2025 Results on May 02, 2025 Global Brands Manufacture Ltd. announced that they will report Q1, 2025 results on May 02, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$54.10, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 106% over the past three years. Ankündigung • Mar 27
Global Brands Manufacture Ltd., Annual General Meeting, Jun 18, 2025 Global Brands Manufacture Ltd., Annual General Meeting, Jun 18, 2025. Location: 2 floor no,223, sec.3 pei hsin rd., sindian district, new taipei city Taiwan Buy Or Sell Opportunity • Mar 03
Now 22% undervalued Over the last 90 days, the stock has risen 30% to NT$71.50. The fair value is estimated to be NT$91.38, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.9% over the last 3 years. Earnings per share has grown by 7.4%. New Risk • Mar 01
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 7.8% 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 (7.8% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Ankündigung • Feb 12
Global Brands Manufacture Ltd. to Report Fiscal Year 2024 Results on Feb 19, 2025 Global Brands Manufacture Ltd. announced that they will report fiscal year 2024 results on Feb 19, 2025 Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$75.60, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 154% over the past three years. New Risk • Jan 13
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 6.1% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.1% average weekly change). Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$63.20, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 99% over the past three years. Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: NT$1.90 (vs NT$2.57 in 3Q 2023) Third quarter 2024 results: EPS: NT$1.90 (down from NT$2.57 in 3Q 2023). Revenue: NT$5.90b (down 3.1% from 3Q 2023). Net income: NT$901.9m (down 25% from 3Q 2023). Profit margin: 15% (down from 20% in 3Q 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Oct 22
Global Brands Manufacture Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Global Brands Manufacture Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: NT$1.82 (vs NT$1.39 in 2Q 2023) Second quarter 2024 results: EPS: NT$1.82 (up from NT$1.39 in 2Q 2023). Revenue: NT$5.68b (down 3.9% from 2Q 2023). Net income: NT$863.4m (up 33% from 2Q 2023). Profit margin: 15% (up from 11% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Aug 05
Now 27% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to NT$59.80. The fair value is estimated to be NT$81.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.8% over the last 3 years. Earnings per share has grown by 6.3%. Ankündigung • Jul 24
Global Brands Manufacture Ltd. to Report Q2, 2024 Results on Jul 31, 2024 Global Brands Manufacture Ltd. announced that they will report Q2, 2024 results on Jul 31, 2024 Declared Dividend • Jun 24
Dividend of NT$3.30 announced Shareholders will receive a dividend of NT$3.30. Ex-date: 9th July 2024 Payment date: 30th July 2024 Dividend yield will be 4.7%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is well covered by both earnings (49% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 34% per year over the past 7 years. However, payments have been volatile during that time. Earnings per share has grown by 37% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Board Change • May 29
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 David Chao 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. Ankündigung • May 17
Global Brands Manufacture Ltd. has filed a Follow-on Equity Offering in the amount of TWD 82.597334 million. Global Brands Manufacture Ltd. has filed a Follow-on Equity Offering in the amount of TWD 82.597334 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 82,597,334
Price\Range: TWD 1
Transaction Features: Rights Offering Reported Earnings • May 13
First quarter 2024 earnings released: EPS: NT$1.24 (vs NT$1.26 in 1Q 2023) First quarter 2024 results: EPS: NT$1.24 (down from NT$1.26 in 1Q 2023). Revenue: NT$5.12b (down 2.5% from 1Q 2023). Net income: NT$583.2m (down 1.8% from 1Q 2023). Profit margin: 11% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$76.10, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 153% over the past three years. Board Change • Mar 13
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 David Chao 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. Reported Earnings • Mar 05
Full year 2023 earnings released: EPS: NT$6.73 (vs NT$5.24 in FY 2022) Full year 2023 results: EPS: NT$6.73 (up from NT$5.24 in FY 2022). Revenue: NT$22.9b (down 5.7% from FY 2022). Net income: NT$3.16b (up 28% from FY 2022). Profit margin: 14% (up from 10% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Feb 23
Global Brands Manufacture Ltd., Annual General Meeting, Jun 18, 2024 Global Brands Manufacture Ltd., Annual General Meeting, Jun 18, 2024. Location: 2F., No. 223, Sec. 3, Beixin Rd., Xindian Dist., New Taipei City Taipei Innovation City Convention Center Tai Pei Taiwan Agenda: To consider Reported matter; To consider 2023 Business Report; To consider Audit Committee's review report; To consider Report on the 2023 remuneration of employees and directors. Reported Earnings • Nov 14
Third quarter 2023 earnings: EPS exceeds analyst expectations Third quarter 2023 results: EPS: NT$2.57 (up from NT$1.54 in 3Q 2022). Revenue: NT$6.08b (down 4.0% from 3Q 2022). Net income: NT$1.21b (up 66% from 3Q 2022). Profit margin: 20% (up from 12% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 69%. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$63.90, the stock trades at a trailing P/E ratio of 12.1x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 212% over the past three years. New Risk • Oct 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 5.9% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.9% average weekly change). Ankündigung • Oct 31
Global Brands Manufacture Ltd. to Report Q3, 2023 Results on Oct 30, 2023 Global Brands Manufacture Ltd. announced that they will report Q3, 2023 results on Oct 30, 2023 Reported Earnings • Aug 16
Second quarter 2023 earnings released: EPS: NT$1.39 (vs NT$1.19 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.39 (up from NT$1.19 in 2Q 2022). Revenue: NT$5.91b (up 2.3% from 2Q 2022). Net income: NT$647.5m (up 16% from 2Q 2022). Profit margin: 11% (up from 9.7% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 12
Upcoming dividend of NT$2.62 per share at 5.5% yield Eligible shareholders must have bought the stock before 19 July 2023. Payment date: 15 August 2023. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 5.5%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.2%). Ankündigung • Jul 01
Global Brands Manufacture Ltd. Announces the Cash Dividend to Common Shareholders, Payable on August 15, 2023 Global Brands Manufacture Ltd. announced the cash dividend to common shareholders is TWD 1,233,187,800, the distribution ratio is TWD 2.62083726 per share. Ex-rights (ex-dividend) trading date is July 19, 2023. Ex-rights (ex-dividend) record date is July 25, 2023. The payment date of cash dividend distribution is August 15, 2023. Ankündigung • Jun 27
Global Brands Manufacture Ltd. Announces Change of the President, Effective from July 1, 2023 Global Brands Manufacture Ltd. announced the retirement of Lai, Wei-Chen as President of the Company and appointed Tao, Cheng-Kuo as President. Resume of the new position holder: President of HannStar Board Corp. effective from July 1, 2023. Reported Earnings • Jun 23
First quarter 2023 earnings released: EPS: NT$1.26 (vs NT$1.43 in 1Q 2022) First quarter 2023 results: EPS: NT$1.26 (down from NT$1.43 in 1Q 2022). Revenue: NT$5.26b (down 16% from 1Q 2022). Net income: NT$593.9m (down 12% from 1Q 2022). Profit margin: 11% (in line with 1Q 2022). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Dec 07
Now 21% undervalued Over the last 90 days, the stock is up 3.8%. The fair value is estimated to be NT$36.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Earnings per share has grown by 37%. 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. 6 experienced directors. 5 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Tony Yuan was the last independent director to join the board, commencing their role in 2017. 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 11
Third quarter 2022 earnings released: EPS: NT$1.54 (vs NT$1.84 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.54 (down from NT$1.84 in 3Q 2021). Revenue: NT$6.33b (down 12% from 3Q 2021). Net income: NT$726.3m (down 21% from 3Q 2021). Profit margin: 12% (down from 13% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 08
Second quarter 2022 earnings released: EPS: NT$1.19 (vs NT$1.36 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.19 (down from NT$1.36 in 2Q 2021). Revenue: NT$5.78b (down 15% from 2Q 2021). Net income: NT$559.7m (down 13% from 2Q 2021). Profit margin: 9.7% (in line with 2Q 2021). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 02
Upcoming dividend of NT$1.75 per share Eligible shareholders must have bought the stock before 09 August 2022. Payment date: 02 September 2022. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 6.0%. Lower than top quartile of Taiwanese dividend payers (6.6%). Higher than average of industry peers (4.6%). Reported Earnings • May 04
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: NT$1.43 (down from NT$1.44 in 1Q 2021). Revenue: NT$6.26b (down 3.6% from 1Q 2021). Net income: NT$674.7m (down 1.0% from 1Q 2021). Profit margin: 11% (in line with 1Q 2021). Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) also surpassed analyst estimates by 2.4%. 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 26% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
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. 7 experienced directors. 4 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Tony Yuan was the last independent director to join the board, commencing their role in 2017. 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 • Mar 19
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: NT$5.79 (up from NT$3.72 in FY 2020). Revenue: NT$27.6b (up 21% from FY 2020). Net income: NT$2.89b (up 64% from FY 2020). Profit margin: 11% (up from 7.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) also surpassed analyst estimates by 2.4%. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Ankündigung • Feb 22
Global Brands Manufacture Ltd., Annual General Meeting, Jun 08, 2022 Global Brands Manufacture Ltd., Annual General Meeting, Jun 08, 2022. Location: 2F., No. 223, Sec. 3, Beixin Rd., Xindian Dist. New Taipei City Taiwan Agenda: To report 2021 Business Report; to consider Audit Committee's review report; to consider report on the 2021 remuneration of employees and directors; to ratify the 2021 Business Report and Financial Statements; to ratify the proposal for distribution of 2021 profits; to consider amendment of the Articles of Incorporation; and to consider amendment of the Procedures for Acquistion or Disposal Assets. Reported Earnings • Nov 05
Third quarter 2021 earnings released: EPS NT$1.84 (vs NT$1.31 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$7.21b (up 16% from 3Q 2020). Net income: NT$914.2m (up 48% from 3Q 2020). Profit margin: 13% (up from 9.9% 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 56% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Oct 06
Upcoming dividend of NT$0.80 per share Eligible shareholders must have bought the stock before 13 October 2021. Payment date: 27 October 2021. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.5%). Reported Earnings • Aug 11
Second quarter 2021 earnings released: EPS NT$1.25 (vs NT$0.85 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$6.80b (up 21% from 2Q 2020). Net income: NT$640.9m (up 46% from 2Q 2020). Profit margin: 9.4% (up from 7.8% in 2Q 2020). The increase in margin was driven by higher revenue. 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 35% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 09
Upcoming dividend of NT$0.80 per share Eligible shareholders must have bought the stock before 16 August 2021. Payment date: 10 September 2021. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (5.0%). Lower than average of industry peers (3.0%). Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorated over the past week After last week's 21% share price decline to NT$25.80, the stock trades at a trailing P/E ratio of 5.7x. Average trailing P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 83% over the past three years. Reported Earnings • May 01
First quarter 2021 earnings released: EPS NT$1.33 (vs NT$0.20 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$6.49b (up 44% from 1Q 2020). Net income: NT$681.3m (up NT$580.6m from 1Q 2020). Profit margin: 11% (up from 2.2% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS NT$3.42 (vs NT$2.01 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$22.8b (up 4.4% from FY 2019). Net income: NT$1.76b (up 71% from FY 2019). Profit margin: 7.7% (up from 4.7% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Ankündigung • Feb 26
Global Brands Manufacture Ltd., Annual General Meeting, Jun 17, 2021 Global Brands Manufacture Ltd., Annual General Meeting, Jun 17, 2021. Location: 2F., No. 223, Sec. 3, Beixin Rd, Xindian Taipei Innovation City Convention Center New Taipei City Taiwan Agenda: To consider 2020 Business Report; to consider audit Committee's review report; to consider report on the 2020 remuneration of employees and directors; to consider other matters to be reported; to ratify the 2020 Business Report and Financial Statements; to ratify the proposal for distribution of 2020 profits; to release the directors from the non-competition restrictions; and to consider other rmatters. Is New 90 Day High Low • Feb 26
New 90-day high: NT$28.10 The company is up 17% from its price of NT$24.10 on 27 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 23% over the same period. Valuation Update With 7 Day Price Move • Dec 09
Market bids up stock over the past week After last week's 15% share price gain to NT$27.80, the stock is trading at a trailing P/E ratio of 10x, up from the previous P/E ratio of 8.7x. This compares to an average P/E of 17x in the Electronic industry in Taiwan. Total returns to shareholders over the past three years are 138%. Is New 90 Day High Low • Dec 03
New 90-day high: NT$24.50 The company is up 9.0% from its price of NT$22.50 on 04 September 2020. The Taiwanese market is also up 9.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Electronic industry, which is up 7.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$1.20 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$6.24b (up 4.0% from 3Q 2019). Net income: NT$618.8m (up 53% from 3Q 2019). Profit margin: 9.9% (up from 6.7% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Ankündigung • Nov 03
Global Brands Manufacture Ltd. Appoints Weng Chia-Yu as Corporate Governance Officer Global Brands Manufacture Ltd. appointed Weng Chia-Yu as Corporate Governance Officer. Effective from November 2, 2020. Is New 90 Day High Low • Oct 21
New 90-day high: NT$24.45 The company is up 50% from its price of NT$16.25 on 23 July 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 4.0% over the same period.