Upcoming Dividend • Jun 10
Upcoming dividend of NT$0.20 per share Eligible shareholders must have bought the stock before 17 June 2026. Payment date: 16 July 2026. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (3.6%). Reported Earnings • May 16
First quarter 2026 earnings released: EPS: NT$0.21 (vs NT$0.022 loss in 1Q 2025) First quarter 2026 results: EPS: NT$0.21 (up from NT$0.022 loss in 1Q 2025). Revenue: NT$179.8m (down 26% from 1Q 2025). Net income: NT$10.8m (up NT$11.9m from 1Q 2025). Profit margin: 6.0% (up from net loss in 1Q 2025). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. New Risk • Apr 05
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 15% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (NT$1.13b market cap, or US$35.3m). Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: NT$0.31 (vs NT$0.47 in FY 2024) Full year 2025 results: EPS: NT$0.31 (down from NT$0.47 in FY 2024). Revenue: NT$912.8m (down 6.1% from FY 2024). Net income: NT$15.4m (down 34% from FY 2024). Profit margin: 1.7% (down from 2.4% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Annonce • Feb 03
E&E Recycling,Inc., Annual General Meeting, Apr 30, 2026 E&E Recycling,Inc., Annual General Meeting, Apr 30, 2026, at 09:30 Taipei Standard Time. Location: no,128 ln.313, t`ai tsun rd., t`ou hu li, yangmei district, taoyuan city Taiwan New Risk • Jan 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 9.1% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (NT$1.49b market cap, or US$47.2m). New Risk • Nov 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 228% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 9.1% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (NT$1.31b market cap, or US$42.0m). Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: NT$0.08 (vs NT$0.068 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.08 (up from NT$0.068 in 3Q 2024). Revenue: NT$235.4m (down 4.4% from 3Q 2024). Net income: NT$4.09m (up 20% from 3Q 2024). Profit margin: 1.7% (up from 1.4% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$31.39, the stock trades at a trailing P/E ratio of 67.7x. Average trailing P/E is 17x in the Commercial Services industry in Taiwan. Total loss to shareholders of 37% over the past three years. Upcoming Dividend • May 16
Upcoming dividend of NT$0.17 per share Eligible shareholders must have bought the stock before 20 May 2025. Payment date: 18 June 2025. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (4.7%). Reported Earnings • May 09
First quarter 2025 earnings released: NT$0.02 loss per share (vs NT$0.048 profit in 1Q 2024) First quarter 2025 results: NT$0.02 loss per share (down from NT$0.048 profit in 1Q 2024). Revenue: NT$242.6m (up 14% from 1Q 2024). Net loss: NT$1.08m (down 152% from profit in 1Q 2024). 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 11% per year, which means it has not declined as severely as earnings. Declared Dividend • May 02
Dividend of NT$0.17 announced Shareholders will receive a dividend of NT$0.17. Ex-date: 20th May 2025 Payment date: 18th June 2025 Dividend yield will be 0.4%, which is lower than the industry average of 4.0%. Annonce • May 01
E&E Recycling,Inc. to Report Q1, 2025 Results on May 08, 2025 E&E Recycling,Inc. announced that they will report Q1, 2025 results on May 08, 2025 Board Change • Apr 29
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent director Po-Yen Hsu was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$31.50, the stock trades at a trailing P/E ratio of 58.8x. Average trailing P/E is 17x in the Commercial Services industry in Taiwan. Total loss to shareholders of 51% over the past three years. New Risk • Apr 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.4% net profit margin). Market cap is less than US$100m (NT$1.53b market cap, or US$46.2m). New Risk • Feb 19
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 39% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.4% net profit margin). Market cap is less than US$100m (NT$1.69b market cap, or US$51.5m). Reported Earnings • Feb 12
Full year 2024 earnings released: EPS: NT$0.54 (vs NT$1.15 in FY 2023) Full year 2024 results: EPS: NT$0.54 (down from NT$1.15 in FY 2023). Revenue: NT$972.1m (up 6.8% from FY 2023). Net income: NT$23.4m (down 53% from FY 2023). Profit margin: 2.4% (down from 5.5% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$38.70, the stock trades at a trailing P/E ratio of 62.7x. Average trailing P/E is 19x in the Commercial Services industry in Taiwan. Total returns to shareholders of 5.1% over the past three years. New Risk • Nov 17
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 64% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.9% net profit margin). Market cap is less than US$100m (NT$1.84b market cap, or US$56.6m). Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: NT$0.08 (vs NT$0.23 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.08 (down from NT$0.23 in 3Q 2023). Revenue: NT$246.3m (up 3.9% from 3Q 2023). Net income: NT$3.40m (down 66% from 3Q 2023). Profit margin: 1.4% (down from 4.3% in 3Q 2023). 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 36% per year, which means it is well ahead of earnings. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.29 (vs NT$0.19 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.29 (up from NT$0.19 in 2Q 2023). Revenue: NT$244.4m (up 11% from 2Q 2023). Net income: NT$12.5m (up 50% from 2Q 2023). Profit margin: 5.1% (up from 3.8% in 2Q 2023). 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 51% per year, which means it is well ahead of earnings. Annonce • Jul 31
E&E Recycling,Inc. to Report Q2, 2024 Results on Aug 07, 2024 E&E Recycling,Inc. announced that they will report Q2, 2024 results on Aug 07, 2024 Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$51.10, the stock trades at a trailing P/E ratio of 75.7x. Average trailing P/E is 28x in the Commercial Services industry in Taiwan. Total returns to shareholders of 208% over the past three years. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to NT$50.00, the stock trades at a trailing P/E ratio of 64.4x. Average trailing P/E is 29x in the Commercial Services industry in Taiwan. Total returns to shareholders of 157% over the past three years. Annonce • Jun 01
E&E Recycling,Inc. Announces the Retirement of William Sui as General Manager E&E Recycling,Inc. announced the retirement of William Sui as General Manager. The general manager, Mr. William Sui, will retire on May 31, 2024. Reason for the change: Career Planning. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.05 (vs NT$0.60 in 1Q 2023) First quarter 2024 results: EPS: NT$0.05 (down from NT$0.60 in 1Q 2023). Revenue: NT$213.8m (flat on 1Q 2023). Net income: NT$2.09m (down 91% from 1Q 2023). Profit margin: 1.0% (down from 11% in 1Q 2023). 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 31% per year, which means it is tracking significantly ahead of earnings growth. Annonce • May 03
E&E Recycling,Inc. to Report Q1, 2024 Results on May 10, 2024 E&E Recycling,Inc. announced that they will report Q1, 2024 results on May 10, 2024 Declared Dividend • Apr 27
Dividend of NT$0.17 announced Shareholders will receive a dividend of NT$0.17. Ex-date: 17th May 2024 Payment date: 18th June 2024 Dividend yield will be 0.4%, which is lower than the industry average of 4.0%. Payout Ratios Payout ratio: 13%. Cash payout ratio: 30%. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$45.25, the stock trades at a trailing P/E ratio of 34.4x. Average trailing P/E is 27x in the Commercial Services industry in Taiwan. Total returns to shareholders of 145% over the past three years. New Risk • Mar 07
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (NT$1.47b market cap, or US$46.7m). Reported Earnings • Feb 27
Full year 2023 earnings released: EPS: NT$1.32 (vs NT$0.90 in FY 2022) Full year 2023 results: EPS: NT$1.32 (up from NT$0.90 in FY 2022). Revenue: NT$910.3m (up 3.8% from FY 2022). Net income: NT$50.1m (up 47% from FY 2022). Profit margin: 5.5% (up from 3.9% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Jan 13
E&E Recycling,Inc., Annual General Meeting, Apr 24, 2024 E&E Recycling,Inc., Annual General Meeting, Apr 24, 2024. Location: No.128, Lan. 313, Taizun Rd, Touhuli, Yangmei District Taoyuan China Agenda: To approve 2023 business report; to approve 2023 Auditing Committee Review Report; to approve Employee bonus sharing and remuneration of directors; and to approve amendment to the Procedures for Ethical Management and Guidelines for Conduct. Annonce • Sep 21
E&E Recycling,Inc. Announces Executive Changes E&E Recycling,Inc. announced change in representative of the company's Juristic person director. Name of the previous position holder: Chang,Jen-Chang Resume of the previous position holder: General Manager of Johnson Controls-Hitachi Air Conditioning Taiwan Co. Ltd. Name of the new position holder: Tsai,Chau-Yueh. Resume of the new position holder: General Manager of Johnson Controls-Hitachi Air Conditioning Taiwan Co. Ltd. Effective date of the new appointment is September 20, 2023. Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: NT$0.22 (vs NT$0.052 loss in 2Q 2022) Second quarter 2023 results: EPS: NT$0.22 (up from NT$0.052 loss in 2Q 2022). Revenue: NT$220.1m (up 1.2% from 2Q 2022). Net income: NT$8.36m (up NT$10.3m from 2Q 2022). Profit margin: 3.8% (up from net loss in 2Q 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 35% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • May 12
Upcoming dividend of NT$0.40 per share at 0.9% yield Eligible shareholders must have bought the stock before 19 May 2023. Payment date: 20 June 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Taiwanese dividend payers (5.9%). Lower than average of industry peers (4.4%). Reported Earnings • Feb 17
Full year 2022 earnings released: EPS: NT$0.90 (vs NT$1.37 in FY 2021) Full year 2022 results: EPS: NT$0.90 (down from NT$1.37 in FY 2021). Revenue: NT$876.8m (up 1.0% from FY 2021). Net income: NT$34.2m (down 35% from FY 2021). Profit margin: 3.9% (down from 6.0% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Jan 12
E&E Recycling,Inc., Annual General Meeting, Apr 26, 2023 E&E Recycling,Inc., Annual General Meeting, Apr 26, 2023. Location: No.128, Aly. 313, Ln. 1, Sec. 2, Yanghu Rd.,Yangmei City,Taoyuan County 326, Taoyuan City Taiwan Agenda: To consider 2022 Business Report; to consider 2022 Auditing Committee Review Report; to report 2022 employees profit sharing bonus, directors and supervisors compensation; to consider Revision of the Company's Code of Procedures for the Board of Directors; to consider Discussion of the Company's Articles of Incorporation; to consider Discussion of the Company's Rules of Procedures for Shareholders' meetings; to consider Discussion of the Company's Procedures for Asset Acquisition & Disposal; and to consider other matters. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improved over the past week After last week's 16% share price gain to NT$46.00, the stock trades at a trailing P/E ratio of 60.4x. Average trailing P/E is 17x in the Commercial Services industry in Taiwan. Total returns to shareholders of 269% over the past three years. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 18% share price gain to NT$39.40, the stock trades at a trailing P/E ratio of 37.6x. Average trailing P/E is 18x in the Commercial Services industry in Taiwan. Total returns to shareholders of 217% over the past three years. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$33.00, the stock trades at a trailing P/E ratio of 31.5x. Average trailing P/E is 18x in the Commercial Services industry in Taiwan. Total returns to shareholders of 159% over the past three years. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$37.85, the stock trades at a trailing P/E ratio of 36.1x. Average trailing P/E is 18x in the Commercial Services industry in Taiwan. Total returns to shareholders of 192% over the past three years. Annonce • Aug 27
E&E Recycling,Inc. Announces Resignation of Tzukwang Lin as Juristic-Person Director E&E Recycling,Inc. announced resignation of Tzukwang Lin as Juristic-person director. Annonce • Aug 11
E&E Recycling,Inc. Announces Adjustment of the Positions of Jessie Chuang from 'Executive Vice President and Chief Financial Officer/ Spokesperson of the Company and Head of Corporate Governance' to 'Managing Director and Chief Financial Officer/ Spokesperson of the Company and Head of Corporate Governance' E&E Recycling,Inc. announced that adjustment of the positions of Jessie Chuang - 'Executive Vice President and Chief Financial Officer/Spokesperson of the company and Head of Corporate Governance' to 'Managing Director and Chief Financial Officer/Spokesperson of the company and Head of Corporate Governance', effective August 10, 2022. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment deteriorated over the past week After last week's 18% share price decline to NT$55.10, the stock trades at a trailing P/E ratio of 38x. Average trailing P/E is 18x in the Commercial Services industry in Taiwan. Total returns to shareholders of 298% over the past three years. Reported Earnings • May 19
First quarter 2022 earnings released: EPS: NT$0.31 (vs NT$0.23 in 1Q 2021) First quarter 2022 results: EPS: NT$0.31 (up from NT$0.23 in 1Q 2021). Revenue: NT$210.1m (up 12% from 1Q 2021). Net income: NT$11.8m (up 33% from 1Q 2021). Profit margin: 5.6% (up from 4.7% 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 57% per year but the company’s share price has increased by 72% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 17% share price gain to NT$72.60, the stock trades at a trailing P/E ratio of 52.9x. Average trailing P/E is 20x in the Commercial Services industry in Taiwan. Total returns to shareholders of 425% over the past three years. Upcoming Dividend • May 18
Upcoming dividend of NT$0.60 per share Eligible shareholders must have bought the stock before 25 May 2022. Payment date: 24 June 2022. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Taiwanese dividend payers (6.1%). Lower than average of industry peers (4.7%). Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improved over the past week After last week's 17% share price gain to NT$88.30, the stock trades at a trailing P/E ratio of 64.3x. Average trailing P/E is 24x in the Commercial Services industry in Taiwan. Total returns to shareholders of 521% over the past three years. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improved over the past week After last week's 28% share price gain to NT$76.20, the stock trades at a trailing P/E ratio of 55.5x. Average trailing P/E is 24x in the Commercial Services industry in Taiwan. Total returns to shareholders of 421% over the past three years. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment improved over the past week After last week's 18% share price gain to NT$48.40, the stock trades at a trailing P/E ratio of 35.2x. Average trailing P/E is 21x in the Commercial Services industry in Taiwan. Total returns to shareholders of 226% over the past three years. Reported Earnings • Feb 16
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$1.37 (up from NT$0.60 in FY 2020). Revenue: NT$867.8m (up 23% from FY 2020). Net income: NT$52.2m (up 128% from FY 2020). Profit margin: 6.0% (up from 3.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. 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 34% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improved over the past week After last week's 21% share price gain to NT$33.45, the stock trades at a trailing P/E ratio of 26.1x. Average trailing P/E is 21x in the Commercial Services industry in Taiwan. Total returns to shareholders of 106% over the past three years. Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improved over the past week After last week's 18% share price gain to NT$32.90, the stock trades at a trailing P/E ratio of 25.7x. Average trailing P/E is 21x in the Commercial Services industry in Taiwan. Total returns to shareholders of 131% over the past three years. Valuation Update With 7 Day Price Move • Dec 25
Investor sentiment improved over the past week After last week's 23% share price gain to NT$23.20, the stock trades at a trailing P/E ratio of 18.1x. Average trailing P/E is 19x in the Commercial Services industry in Taiwan. Total returns to shareholders of 67% over the past three years. Reported Earnings • Aug 06
Second quarter 2021 earnings released: EPS NT$0.35 (vs NT$0.023 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$220.2m (up 39% from 2Q 2020). Net income: NT$13.3m (up NT$12.5m from 2Q 2020). Profit margin: 6.1% (up from 0.6% 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 9% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • May 17
First quarter 2021 earnings released: EPS NT$0.23 (vs NT$0.11 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$188.3m (up 17% from 1Q 2020). Net income: NT$8.88m (up 110% from 1Q 2020). Profit margin: 4.7% (up from 2.6% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • May 14
Investor sentiment deteriorated over the past week After last week's 20% share price decline to NT$16.90, the stock trades at a trailing P/E ratio of 28x. Average trailing P/E is 20x in the Commercial Services industry in Taiwan. Total loss to shareholders of 19% over the past three years. Upcoming Dividend • May 12
Upcoming dividend of NT$0.30 per share Eligible shareholders must have bought the stock before 19 May 2021. Payment date: 11 June 2021. Trailing yield: 1.5%. Lower than top quartile of Taiwanese dividend payers (5.0%). Lower than average of industry peers (4.9%). Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improved over the past week After last week's 17% share price gain to NT$22.40, the stock trades at a trailing P/E ratio of 37.2x. Average trailing P/E is 22x in the Commercial Services industry in Taiwan. Total returns to shareholders of 8.4% over the past three years. Reported Earnings • Mar 09
Full year 2020 earnings released: EPS NT$0.60 (vs NT$0.49 in FY 2019) The company reported a solid full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: NT$705.2m (flat on FY 2019). Net income: NT$22.9m (up 24% from FY 2019). Profit margin: 3.2% (up from 2.6% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 20
Full year 2020 earnings released: EPS NT$0.60 (vs NT$0.49 in FY 2019) The company reported a solid full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: NT$705.2m (flat on FY 2019). Net income: NT$22.9m (up 24% from FY 2019). Profit margin: 3.2% (up from 2.6% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 29
New 90-day low: NT$14.50 The company is down 23% from its price of NT$18.95 on 30 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is flat over the same period. Annonce • Jan 20
E&E Recycling,Inc., Annual General Meeting, Apr 28, 2021 E&E Recycling,Inc., Annual General Meeting, Apr 28, 2021. Location: No. 128, Ln. 313, Taizun Rd.,Yangmei Dist Taoyuan City Taiwan Agenda: To consider the 2020 Business Report and supervisor’s Review Report of 2020 financial statements; to report 2020 employees’ profit sharing bonus, directors and supervisors compensation; to approve 2020 Business Report and Financial Statements; to approve the proposal for distribution of 2020 earnings; and to discuss other matters. Is New 90 Day High Low • Jan 12
New 90-day low: NT$16.15 The company is down 25% from its price of NT$21.45 on 15 October 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 3.0% over the same period. Is New 90 Day High Low • Dec 18
New 90-day low: NT$16.75 The company is down 11% from its price of NT$18.75 on 18 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is flat over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.12 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: NT$188.9m (up 3.7% from 3Q 2019). Net income: NT$4.69m (down 30% from 3Q 2019). Profit margin: 2.5% (down from 3.7% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 40% 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. 
