Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$65.50, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 23x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 30% over the past three years. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$71.30, the stock trades at a trailing P/E ratio of 22.7x. Average trailing P/E is 23x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 38% over the past three years. Valuation Update With 7 Day Price Move • May 28
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$86.20, the stock trades at a trailing P/E ratio of 27.4x. Average trailing P/E is 27x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 69% over the past three years. Valuation Update With 7 Day Price Move • May 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$88.70, the stock trades at a trailing P/E ratio of 28.2x. Average trailing P/E is 22x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 66% over the past three years. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to NT$68.00, the stock trades at a trailing P/E ratio of 21.6x. Average trailing P/E is 21x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 29% over the past three years. Buy Or Sell Opportunity • Apr 15
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 4.9% to NT$61.90. The fair value is estimated to be NT$50.27, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Annonce • Mar 10
King's Metal Fiber Technologies Co., Ltd., Annual General Meeting, Jun 11, 2026 King's Metal Fiber Technologies Co., Ltd., Annual General Meeting, Jun 11, 2026, at 09:00 Taipei Standard Time. Location: 11 floor no,426, lin sen n. rd., jhongshan district, taipei city Taiwan Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to NT$64.00, the stock trades at a trailing P/E ratio of 21.9x. Average trailing P/E is 19x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 9.8% over the past three years. New Risk • Mar 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (15% average weekly change). Minor Risks High level of debt (45% net debt to equity). Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (NT$1.37b market cap, or US$43.7m). New Risk • Jan 07
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 13% 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 (13% average weekly change). Minor Risks High level of debt (45% net debt to equity). Market cap is less than US$100m (NT$1.82b market cap, or US$57.9m). Buy Or Sell Opportunity • Jan 07
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 38% to NT$63.00. The fair value is estimated to be NT$50.33, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 9.2%. Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$50.80, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 19x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 19% over the past three years. New Risk • Nov 03
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 7.2% 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 High level of debt (45% net debt to equity). Share price has been volatile over the past 3 months (7.2% average weekly change). Market cap is less than US$100m (NT$1.35b market cap, or US$43.6m). Buy Or Sell Opportunity • Oct 27
Now 20% undervalued Over the last 90 days, the stock has risen 5.8% to NT$43.60. The fair value is estimated to be NT$54.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 9.2%. Buy Or Sell Opportunity • Sep 16
Now 20% undervalued Over the last 90 days, the stock has risen 4.7% to NT$45.00. The fair value is estimated to be NT$56.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 9.2%. New Risk • Sep 02
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 6.8% 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: Minor Risks High level of debt (45% net debt to equity). Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (NT$1.36b market cap, or US$44.3m). Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$50.50, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 19x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 14% over the past three years. Declared Dividend • Aug 09
Dividend of NT$1.70 announced Shareholders will receive a dividend of NT$1.70. Ex-date: 26th August 2025 Payment date: 26th September 2025 Dividend yield will be 4.1%, which is higher than the industry average of 3.9%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (68% cash payout ratio). The dividend has increased by an average of 8.7% per year over the past 3 years and payments have been stable during that time. Earnings per share has grown by 5.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Jul 03
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 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (52% net debt to equity). Share price has been volatile over the past 3 months (8.6% average weekly change). Market cap is less than US$100m (NT$1.13b market cap, or US$39.0m). Board Change • May 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Shuiyong Lin 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. Insufficient board refreshment. 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 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (52% net debt to equity). Share price has been volatile over the past 3 months (6.6% average weekly change). Market cap is less than US$100m (NT$1.03b market cap, or US$31.1m). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$38.95, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 21x in the Metals and Mining industry in Taiwan. Total loss to shareholders of 33% over the past three years. Reported Earnings • Mar 21
Full year 2024 earnings released: EPS: NT$3.40 (vs NT$3.43 in FY 2023) Full year 2024 results: EPS: NT$3.40 (down from NT$3.43 in FY 2023). Revenue: NT$443.0m (flat on FY 2023). Net income: NT$89.8m (flat on FY 2023). Profit margin: 20% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Annonce • Mar 12
King's Metal Fiber Technologies Co., Ltd., Annual General Meeting, Jun 09, 2025 King's Metal Fiber Technologies Co., Ltd., Annual General Meeting, Jun 09, 2025, at 09:00 Taipei Standard Time. Location: 11 floor no,426, lin sen n. rd., jhongshan district, taipei city Taiwan New Risk • Feb 24
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (NT$1.41b market cap, or US$42.9m). New Risk • Aug 10
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 20% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (20% operating cash flow to total debt). Revenue has declined by 2.7% over the past year. Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Market cap is less than US$100m (NT$1.45b market cap, or US$44.7m). Declared Dividend • Aug 09
Dividend of NT$1.50 announced Shareholders will receive a dividend of NT$1.50. Ex-date: 23rd August 2024 Payment date: 26th September 2024 Dividend yield will be 2.5%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is well covered by both earnings (36% earnings payout ratio) and cash flows (26% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. Earnings per share has grown by 10% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Annonce • Mar 16
King's Metal Fiber Technologies Co., Ltd., Annual General Meeting, Jun 13, 2024 King's Metal Fiber Technologies Co., Ltd., Annual General Meeting, Jun 13, 2024. Reported Earnings • Mar 15
Full year 2023 earnings released: EPS: NT$3.77 (vs NT$2.86 in FY 2022) Full year 2023 results: EPS: NT$3.77 (up from NT$2.86 in FY 2022). Revenue: NT$447.2m (up 7.8% from FY 2022). Net income: NT$90.6m (up 32% from FY 2022). Profit margin: 20% (up from 17% in FY 2022). The increase in margin was driven by higher revenue. New Risk • Feb 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks High level of debt (72% net debt to equity). Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Short dividend paying track record (1 year of continuous dividend payments). Market cap is less than US$100m (NT$1.41b market cap, or US$44.6m). Upcoming Dividend • Aug 21
Upcoming dividend of NT$1.50 per share at 2.1% yield Eligible shareholders must have bought the stock before 28 August 2023. Payment date: 28 September 2023. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Taiwanese dividend payers (5.6%). Lower than average of industry peers (4.0%). Reported Earnings • Aug 15
First half 2023 earnings released: EPS: NT$2.42 (vs NT$1.43 in 1H 2022) First half 2023 results: EPS: NT$2.42 (up from NT$1.43 in 1H 2022). Revenue: NT$235.7m (up 20% from 1H 2022). Net income: NT$52.7m (up 69% from 1H 2022). Profit margin: 22% (up from 16% in 1H 2022). The increase in margin was driven by higher revenue. 
