Buy Or Sell Opportunity • Jul 13
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to NT$47.75. The fair value is estimated to be NT$60.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Earnings per share has grown by 16%. Upcoming Dividend • Jun 30
Upcoming dividend of NT$4.00 per share Eligible shareholders must have bought the stock before 07 July 2026. Payment date: 24 July 2026. Payout ratio is on the higher end at 91% but the company is not cash flow positive. Trailing yield: 7.5%. Within top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (1.7%). Reported Earnings • Jun 13
First quarter 2026 earnings released: EPS: NT$0.75 (vs NT$1.71 in 1Q 2025) First quarter 2026 results: EPS: NT$0.75 (down from NT$1.71 in 1Q 2025). Revenue: NT$325.1m (down 26% from 1Q 2025). Net income: NT$30.9m (down 52% from 1Q 2025). Profit margin: 9.5% (down from 15% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • May 12
First quarter 2026 earnings released: EPS: NT$0.75 (vs NT$1.71 in 1Q 2025) First quarter 2026 results: EPS: NT$0.75 (down from NT$1.71 in 1Q 2025). Revenue: NT$325.1m (down 26% from 1Q 2025). Net income: NT$30.9m (down 52% from 1Q 2025). Profit margin: 9.5% (down from 15% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 12
Full year 2025 earnings released: EPS: NT$5.37 (vs NT$3.21 in FY 2024) Full year 2025 results: EPS: NT$5.37 (up from NT$3.21 in FY 2024). Revenue: NT$1.75b (up 39% from FY 2024). Net income: NT$209.8m (up 76% from FY 2024). Profit margin: 12% (up from 9.5% in FY 2024). The increase in margin was driven by higher revenue. 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 11% per year, which means it is tracking significantly ahead of earnings growth. Anuncio • Mar 10
Sun Max Tech Limited, Annual General Meeting, May 28, 2026 Sun Max Tech Limited, Annual General Meeting, May 28, 2026, at 09:00 Taipei Standard Time. Location: 9 floor no,166, chien i rd., jhonghe district, new taipei city Taiwan New Risk • Sep 26
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.03b (US$99.3m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 8.1% per year over the past 5 years. High level of non-cash earnings (31% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.8% average weekly change). Market cap is less than US$100m (NT$3.03b market cap, or US$99.3m). Anuncio • Sep 09
Sun Max Tech Limited has filed a Follow-on Equity Offering in the amount of TWD 1.04517 billion. Sun Max Tech Limited has filed a Follow-on Equity Offering in the amount of TWD 1.04517 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 6,615,000
Price\Range: TWD 158 Valuation Update With 7 Day Price Move • Aug 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$93.80, the stock trades at a trailing P/E ratio of 19.4x. Average trailing P/E is 24x in the Machinery industry in Taiwan. Total returns to shareholders of 130% over the past three years. Reported Earnings • Aug 16
Second quarter 2025 earnings released: EPS: NT$1.14 (vs NT$0.51 in 2Q 2024) Second quarter 2025 results: EPS: NT$1.14 (up from NT$0.51 in 2Q 2024). Revenue: NT$488.9m (up 51% from 2Q 2024). Net income: NT$43.7m (up 126% from 2Q 2024). Profit margin: 8.9% (up from 6.0% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 23
Upcoming dividend of NT$2.35 per share Eligible shareholders must have bought the stock before 30 July 2025. Payment date: 29 August 2025. Payout ratio is a comfortable 57% but the company is not cash flow positive. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.9%). New Risk • Jun 26
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 10% 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 Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 6.2% per year over the past 5 years. High level of non-cash earnings (23% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (NT$2.66b market cap, or US$91.2m). New Risk • May 15
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 8.8% 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 Risks Earnings have declined by 6.2% per year over the past 5 years. High level of non-cash earnings (23% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.8% average weekly change). Market cap is less than US$100m (NT$2.64b market cap, or US$87.6m). Reported Earnings • May 13
First quarter 2025 earnings released: EPS: NT$1.71 (vs NT$0.71 in 1Q 2024) First quarter 2025 results: EPS: NT$1.71 (up from NT$0.71 in 1Q 2024). Revenue: NT$436.1m (up 42% from 1Q 2024). Net income: NT$64.5m (up 152% from 1Q 2024). Profit margin: 15% (up from 8.3% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • May 12
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$54.70, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 17x in the Machinery industry in Taiwan. Total returns to shareholders of 9.0% over the past three years. Anuncio • May 01
Sun Max Tech Limited to Report Q1, 2025 Results on May 09, 2025 Sun Max Tech Limited announced that they will report Q1, 2025 results on May 09, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$41.20, the stock trades at a trailing P/E ratio of 13x. Average trailing P/E is 17x in the Machinery industry in Taiwan. Total loss to shareholders of 18% over the past three years. Reported Earnings • Mar 18
Full year 2024 earnings released: EPS: NT$3.21 (vs NT$3.40 in FY 2023) Full year 2024 results: EPS: NT$3.21. Revenue: NT$1.26b (down 8.6% from FY 2023). Net income: NT$119.5m (flat on FY 2023). Profit margin: 9.5% (in line with FY 2023). Anuncio • Mar 12
Sun Max Tech Limited, Annual General Meeting, May 29, 2025 Sun Max Tech Limited, Annual General Meeting, May 29, 2025, at 09:00 Taipei Standard Time. Location: 9 floor no,166, chien i rd., jhonghe district, new taipei city Taiwan Anuncio • Mar 01
Sun Max Tech Limited to Report Fiscal Year 2024 Results on Mar 10, 2025 Sun Max Tech Limited announced that they will report fiscal year 2024 results on Mar 10, 2025 Anuncio • Jan 14
Sun Max Tech Limited Approves the Establishment of Nominating Committee and Appointment of the Committee Members Sun Max Tech Limited approved the establishment of Nominating Committee and appointment of the committee members. Name and Resume of the new position holder: SINOTEAMHOLDINGS INC Representative: HSU Wen-Faung-ATaiwan/Chairman, LUXURY SHINE INTERNATIONAL LIMITED. Representative - Chang,Yuan-Fen/Institutional Director, HSIEH, Yu-Tien/Independent Director, CHEN, Tien-Szu/Independent Director, CHIU, Shih-Fang/Independent Director. Effective date of the new member: January 13, 2025. Reported Earnings • Nov 10
Third quarter 2024 earnings released: EPS: NT$1.30 (vs NT$1.28 in 3Q 2023) Third quarter 2024 results: EPS: NT$1.30 (up from NT$1.28 in 3Q 2023). Revenue: NT$354.7m (down 12% from 3Q 2023). Net income: NT$49.0m (up 7.1% from 3Q 2023). Profit margin: 14% (up from 11% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Anuncio • Oct 30
Sun Max Tech Limited to Report Q3, 2024 Results on Nov 06, 2024 Sun Max Tech Limited announced that they will report Q3, 2024 results on Nov 06, 2024 Reported Earnings • Aug 18
Second quarter 2024 earnings released: EPS: NT$0.51 (vs NT$1.08 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.51 (down from NT$1.08 in 2Q 2023). Revenue: NT$324.5m (up 2.7% from 2Q 2023). Net income: NT$19.3m (down 48% from 2Q 2023). Profit margin: 6.0% (down from 12% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Anuncio • Aug 08
Sun Max Tech Limited to Report Q2, 2024 Results on Aug 15, 2024 Sun Max Tech Limited announced that they will report Q2, 2024 results on Aug 15, 2024 Buy Or Sell Opportunity • Jul 30
Now 20% overvalued Over the last 90 days, the stock has fallen 8.1% to NT$51.00. The fair value is estimated to be NT$42.47, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 30%. Declared Dividend • Jun 03
Dividend reduced to NT$2.75 Dividend of NT$2.75 is 30% lower than last year. Ex-date: 5th July 2024 Payment date: 26th July 2024 Dividend yield will be 4.2%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (76% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 5.5% per year over the past 6 years. However, payments have been volatile during that time. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Anuncio • Jun 02
Sun Max Tech Limited Announces Cash Dividend for the Year 2023, Payable on July 26, 2024 Sun Max Tech Limited announced cash dividend of TWD 102,462,775, each common share is entitled to receive TWD 2.75 for the year 2023. Ex-rights (ex-dividend) trading date: July 5, 2024. Ex-rights (ex-dividend) record date: July 13, 2024. Payment date of common stock cash dividend distribution: July 26, 2024. Buy Or Sell Opportunity • May 17
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to NT$60.90. The fair value is estimated to be NT$48.83, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 30%. Reported Earnings • May 12
First quarter 2024 earnings released: EPS: NT$0.71 (vs NT$0.45 in 1Q 2023) First quarter 2024 results: EPS: NT$0.71 (up from NT$0.45 in 1Q 2023). Revenue: NT$308.1m (down 3.1% from 1Q 2023). Net income: NT$25.6m (up 66% from 1Q 2023). Profit margin: 8.3% (up from 4.8% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Anuncio • May 02
Sun Max Tech Limited to Report Q1, 2024 Results on May 09, 2024 Sun Max Tech Limited announced that they will report Q1, 2024 results on May 09, 2024 New Risk • Mar 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 103% Cash payout ratio: 135% Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Profit margins are more than 30% lower than last year (8.6% net profit margin). Shareholders have been diluted in the past year (4.2% increase in shares outstanding). Market cap is less than US$100m (NT$2.18b market cap, or US$68.5m). Reported Earnings • Mar 22
Full year 2023 earnings released: EPS: NT$3.40 (vs NT$6.90 in FY 2022) Full year 2023 results: EPS: NT$3.40 (down from NT$6.90 in FY 2022). Revenue: NT$1.38b (down 17% from FY 2022). Net income: NT$118.5m (down 48% from FY 2022). Profit margin: 8.6% (down from 14% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Anuncio • Mar 16
Sun Max Tech Limited, Annual General Meeting, May 31, 2024 Sun Max Tech Limited, Annual General Meeting, May 31, 2024. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$62.30, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 21x in the Machinery industry in Taiwan. Negligible returns to shareholders over past three years. Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: NT$1.28 (vs NT$0.50 in 3Q 2022) Third quarter 2023 results: EPS: NT$1.28 (up from NT$0.50 in 3Q 2022). Revenue: NT$404.9m (up 61% from 3Q 2022). Net income: NT$45.7m (up 182% from 3Q 2022). Profit margin: 11% (up from 6.4% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 6% per year. New Risk • Sep 30
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 Dividend is not well covered by earnings (130% payout ratio). Share price has been volatile over the past 3 months (6.1% average weekly change). Profit margins are more than 30% lower than last year (8.0% net profit margin). Market cap is less than US$100m (NT$1.83b market cap, or US$56.7m). Reported Earnings • Aug 16
Second quarter 2023 earnings released: EPS: NT$1.08 (vs NT$1.60 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.08 (down from NT$1.60 in 2Q 2022). Revenue: NT$316.0m (down 11% from 2Q 2022). Net income: NT$37.1m (down 28% from 2Q 2022). Profit margin: 12% (down from 14% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 8% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$59.70, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 17x in the Machinery industry in Taiwan. Total returns to shareholders of 36% over the past three years. Upcoming Dividend • Jun 26
Upcoming dividend of NT$3.94 per share at 7.2% yield Eligible shareholders must have bought the stock before 03 July 2023. Payment date: 28 July 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 7.2%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.0%). Reported Earnings • Mar 16
Full year 2022 earnings released: EPS: NT$6.90 (vs NT$6.83 in FY 2021) Full year 2022 results: EPS: NT$6.90 (up from NT$6.83 in FY 2021). Revenue: NT$1.66b (down 9.8% from FY 2021). Net income: NT$226.0m (up 3.3% from FY 2021). Profit margin: 14% (up from 12% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. 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. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Tien-Szu Chen was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.50 (vs NT$1.32 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.50 (down from NT$1.32 in 3Q 2021). Revenue: NT$251.2m (down 36% from 3Q 2021). Net income: NT$16.2m (down 62% from 3Q 2021). Profit margin: 6.4% (down from 11% 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 33% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Anuncio • Sep 09
Sun Max Tech Limited has completed a Follow-on Equity Offering. Sun Max Tech Limited has completed a Follow-on Equity Offering.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 1,600,000
Security Name: Shares
Security Type: Common Stock
Securities Offered: 200,000
Security Name: Shares
Security Type: Common Stock
Securities Offered: 200,000 Anuncio • Aug 30
Sun Max Tech Limited Announces Appointment of Chen, Tien-Szu as Audit Committee Member Sun Max Tech Limited Announced the Board of Directors Made a New Appointment of sun max audit committee Member. Name of the new position holder: CHEN, Tien-Szu6. Resume of the new position holder: CHEN, Tien-Szu¡AFormer Vice President of Cameo Corporati. Circumstances of change: new appointment. Effective date of the new member: 2022/08/29. Reported Earnings • Aug 16
Second quarter 2022 earnings released: EPS: NT$1.60 (vs NT$1.24 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.60 (up from NT$1.24 in 2Q 2021). Revenue: NT$354.8m (down 26% from 2Q 2021). Net income: NT$51.4m (up 29% from 2Q 2021). Profit margin: 14% (up from 8.3% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$48.10, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 13x in the Machinery industry in Taiwan. Total returns to shareholders of 31% over the past three years. Buying Opportunity • Jun 28
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be NT$70.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 46%. Upcoming Dividend • Jun 21
Upcoming dividend of NT$4.00 per share Eligible shareholders must have bought the stock before 28 June 2022. Payment date: 22 July 2022. Payout ratio is a comfortable 48% but the company is not cash flow positive. Trailing yield: 6.8%. Within top quartile of Taiwanese dividend payers (6.3%). Higher than average of industry peers (3.4%). Buying Opportunity • Jun 06
Now 20% undervalued Over the last 90 days, the stock is up 18%. The fair value is estimated to be NT$80.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 46%. Buying Opportunity • May 09
Now 24% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be NT$80.09, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 46%. Reported Earnings • May 08
First quarter 2022 earnings released: EPS: NT$3.88 (vs NT$2.41 in 1Q 2021) First quarter 2022 results: EPS: NT$3.88 (up from NT$2.41 in 1Q 2021). Revenue: NT$656.4m (up 40% from 1Q 2021). Net income: NT$124.4m (up 62% from 1Q 2021). Profit margin: 19% (up from 16% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 13% 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. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Tien-Szu Chen was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Buying Opportunity • Apr 15
Now 21% undervalued Over the last 90 days, the stock is up 10%. The fair value is estimated to be NT$78.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 44%. Buying Opportunity • Mar 31
Now 22% undervalued Over the last 90 days, the stock is up 4.1%. The fair value is estimated to be NT$77.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 44%. Reported Earnings • Mar 17
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: NT$6.83 (up from NT$5.66 in FY 2020). Revenue: NT$1.84b (up 17% from FY 2020). Net income: NT$218.8m (up 34% from FY 2020). Profit margin: 12% (up from 10% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.1%. 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 14% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$1.32 (vs NT$1.27 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: NT$394.6m (down 12% from 3Q 2020). Net income: NT$42.3m (up 17% from 3Q 2020). Profit margin: 11% (up from 8.1% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 23
Second quarter 2021 earnings released: EPS NT$1.24 (vs NT$1.31 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: NT$481.7m (up 24% from 2Q 2020). Net income: NT$39.8m (up 8.7% from 2Q 2020). Profit margin: 8.3% (down from 9.4% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$50.30, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 17x in the Machinery industry in Taiwan. Total loss to shareholders of 14% over the past three years. Upcoming Dividend • Jul 12
Inaugural dividend of NT$2.73 per share Eligible shareholders must have bought the stock before 19 July 2021. Payment date: 06 August 2021. The company last paid an ordinary dividend in July 2021. The average dividend yield among industry peers is 2.5%. Reported Earnings • May 08
First quarter 2021 earnings released: EPS NT$2.41 (vs NT$0.47 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$470.1m (up 87% from 1Q 2020). Net income: NT$76.6m (up 489% from 1Q 2020). Profit margin: 16% (up from 5.2% 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 14% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Executive Departure • Mar 21
Chief Financial Officer & Accounting Officer has left the company On the 19th of March, Chih-Feng Lin's tenure in the role of Chief Financial Officer & Accounting Officer ended. We don't have any record of a personal shareholding under Chih-Feng's name. Chih-Feng is the only executive to leave the company over the last 12 months. Anuncio • Mar 20
Sun Max Tech Limited, Annual General Meeting, Jun 18, 2021 Sun Max Tech Limited, Annual General Meeting, Jun 18, 2021. Location: Concord Securities Co., Ltd., B2 conference room (B2, No. 176, Sec. 1, Keelung Rd., Xinyi Dist., Taipei City) Taipei City Taiwan Agenda: To consider the 2020 annual report; to consider the audit committee's review of 2020 financial statements; to consider Employees & directors 2020 compensation distribution report; to consider the report of 2020 net income and cash dividends distribution; to consider convertible bonds issue report; to consider amendment to the rules and report of the share repurchase and transfer to employees; to consider amendment to Rules of the Board of Directors. Reported Earnings • Mar 20
Full year 2020 earnings released: EPS NT$5.66 (vs NT$3.44 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.58b (up 33% from FY 2019). Net income: NT$163.9m (up 84% from FY 2019). Profit margin: 10% (up from 7.5% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Anuncio • Nov 20
Sun Max Tech Limited Announces Board Changes Sun Max Tech Limited announced that name, title, and resume of the previous position holder: LIN Chih-Feng¡BCFO and Name, title, and resume of the new position holder: Yao Cheng-Min¡Bspecial assistant to the chairman, with effect from November 19, 2020.