Price Target Changed • Jul 18
Price target increased by 11% to NT$49.50 Up from NT$44.50, the current price target is an average from 2 analysts. New target price is 14% above last closing price of NT$43.30. Stock is up 8.6% over the past year. The company is forecast to post earnings per share of NT$6.80 for next year compared to NT$2.10 last year. Price Target Changed • Jun 12
Price target increased by 12% to NT$47.00 Up from NT$42.00, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of NT$44.95. Stock is up 17% over the past year. The company is forecast to post earnings per share of NT$6.47 for next year compared to NT$2.10 last year. Reported Earnings • May 13
First quarter 2026 earnings: EPS misses analyst expectations First quarter 2026 results: EPS: NT$1.00 (up from NT$0.003 in 1Q 2025). Revenue: NT$16.2b (up NT$15.1b from 1Q 2025). Net income: NT$2.42b (up NT$2.42b from 1Q 2025). Profit margin: 15% (up from 0.5% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 22%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Real Estate industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. New Risk • Apr 29
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 190% The company is paying a dividend despite having no free cash flows. Dividend yield: 9.9% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Payout ratio: 190% Paying a dividend despite having no free cash flows. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$39.20, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 12x in the Real Estate industry in Asia. Total returns to shareholders of 26% over the past three years. Price Target Changed • Mar 15
Price target decreased by 15% to NT$42.00 Down from NT$49.52, the current price target is provided by 1 analyst. New target price is 15% above last closing price of NT$36.55. Stock is down 11% over the past year. The company is forecast to post earnings per share of NT$8.09 for next year compared to NT$2.10 last year. Reported Earnings • Mar 12
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: NT$2.10 (down from NT$2.98 in FY 2024). Revenue: NT$31.1b (down 16% from FY 2024). Net income: NT$4.44b (down 29% from FY 2024). Profit margin: 14% (down from 17% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) exceeded analyst estimates by 1.4%. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Annonce • Mar 12
Highwealth Construction Corp., Annual General Meeting, Jun 17, 2026 Highwealth Construction Corp., Annual General Meeting, Jun 17, 2026, at 09:00 Taipei Standard Time. Location: no,8, chih fu rd., jhongshan district, taipei city Taiwan New Risk • Mar 12
New major risk - Revenue and earnings growth Earnings have declined by 5.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 5.1% per year over the past 5 years. Minor Risk Paying a dividend despite having no free cash flows. Major Estimate Revision • Dec 04
Consensus revenue estimates fall by 36% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$51.0b to NT$32.7b. EPS estimate fell from NT$2.70 to NT$2.07 per share. Net income forecast to grow 213% next year vs 117% growth forecast for Real Estate industry in Taiwan. Consensus price target broadly unchanged at NT$49.57. Share price was steady at NT$38.10 over the past week. Reported Earnings • Nov 13
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: NT$0.72 (down from NT$0.85 in 3Q 2024). Revenue: NT$8.45b (down 11% from 3Q 2024). Net income: NT$1.52b (down 15% from 3Q 2024). Profit margin: 18% (in line with 3Q 2024). Revenue missed analyst estimates by 42%. Earnings per share (EPS) also missed analyst estimates by 22%. Revenue is forecast to grow 104% p.a. on average during the next 2 years, compared to a 62% growth forecast for the Real Estate industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 18
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 25 September 2025. Payment date: 31 October 2025. Payout ratio is a comfortable 73% but the company is not cash flow positive. Trailing yield: 4.3%. Lower than top quartile of Taiwanese dividend payers (5.3%). In line with average of industry peers (4.7%). New Risk • Aug 31
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 4.8% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Paying a dividend despite having no free cash flows. Declared Dividend • Aug 15
Dividend of NT$2.00 announced Shareholders will receive a dividend of NT$2.00. Ex-date: 25th September 2025 Payment date: 31st October 2025 Dividend yield will be 4.7%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by earnings (30% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 94% over the next year, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • Aug 05
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$54.5b to NT$51.0b. EPS estimate also fell from NT$3.29 per share to NT$2.83 per share. Net income forecast to grow 58% next year vs 13% growth forecast for Real Estate industry in Taiwan. Consensus price target down from NT$55.00 to NT$52.00. Share price rose 2.7% to NT$42.05 over the past week. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: NT$0.003 (vs NT$0.29 in 1Q 2024) First quarter 2025 results: EPS: NT$0.003 (down from NT$0.29 in 1Q 2024). Revenue: NT$1.11b (down 79% from 1Q 2024). Net income: NT$5.90m (down 99% from 1Q 2024). Profit margin: 0.5% (down from 11% in 1Q 2024). The decrease in margin was driven by lower revenue. 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 6% per year, which means it is well ahead of earnings. Annonce • May 07
Highwealth Construction Corp. to Report Q1, 2025 Results on May 14, 2025 Highwealth Construction Corp. announced that they will report Q1, 2025 results on May 14, 2025 Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$35.95, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 10x in the Real Estate industry in Asia. Total returns to shareholders of 12% over the past three years. Reported Earnings • Mar 15
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: NT$3.13 (up from NT$1.21 in FY 2023). Revenue: NT$36.9b (down 16% from FY 2023). Net income: NT$6.29b (up 158% from FY 2023). Profit margin: 17% (up from 5.5% in FY 2023). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Annonce • Mar 14
Highwealth Construction Corp., Annual General Meeting, Jun 17, 2025 Highwealth Construction Corp., Annual General Meeting, Jun 17, 2025, at 09:00 Taipei Standard Time. Location: no,8, chih fu rd., jhongshan district, taipei city Taiwan New Risk • Feb 26
New major risk - Revenue and earnings growth Earnings have declined by 3.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (2.4% operating cash flow to total debt). Earnings have declined by 3.4% per year over the past 5 years. New Risk • Dec 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. This is currently the only risk that has been identified for the company. New Risk • Sep 20
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 7.6% 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 Debt is not well covered by operating cash flow (6.7% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Profit margins are more than 30% lower than last year (5.0% net profit margin). Upcoming Dividend • Sep 19
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 26 September 2024. Payment date: 31 October 2024. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Taiwanese dividend payers (4.4%). Lower than average of industry peers (2.9%). Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: NT$0.37 (vs NT$0.29 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.37 (up from NT$0.29 in 2Q 2023). Revenue: NT$10.0b (up 30% from 2Q 2023). Net income: NT$669.9m (up 25% from 2Q 2023). Profit margin: 6.7% (down from 7.0% 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 46% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Declared Dividend • Aug 15
Dividend of NT$0.50 announced Shareholders will receive a dividend of NT$0.50. Ex-date: 26th September 2024 Payment date: 31st October 2024 Dividend yield will be 0.9%, which is lower than the industry average of 3.7%. Sustainability & Growth Dividend is well covered by both earnings (46% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 49% to shift the payout ratio to a potentially unsustainable range, which is more than the 26% EPS decline seen over the last 5 years. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to NT$50.50, the stock trades at a trailing P/E ratio of 46.7x. Average trailing P/E is 20x in the Real Estate industry in Taiwan. Total returns to shareholders of 44% over the past three years. Annonce • Aug 06
Highwealth Construction Corp. to Report Q2, 2024 Results on Aug 13, 2024 Highwealth Construction Corp. announced that they will report Q2, 2024 results on Aug 13, 2024 Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$64.50, the stock trades at a trailing P/E ratio of 59.6x. Average trailing P/E is 22x in the Real Estate industry in Taiwan. Total returns to shareholders of 97% over the past three years. Reported Earnings • May 18
First quarter 2024 earnings released: EPS: NT$0.32 (vs NT$0.56 in 1Q 2023) First quarter 2024 results: EPS: NT$0.32 (down from NT$0.56 in 1Q 2023). Revenue: NT$5.21b (down 43% from 1Q 2023). Net income: NT$593.6m (down 42% from 1Q 2023). Profit margin: 11% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Annonce • May 08
Highwealth Construction Corp. to Report Q1, 2024 Results on May 14, 2024 Highwealth Construction Corp. announced that they will report Q1, 2024 results on May 14, 2024 Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: NT$1.33 (vs NT$2.08 in FY 2022) Full year 2023 results: EPS: NT$1.33 (down from NT$2.08 in FY 2022). Revenue: NT$44.1b (up 66% from FY 2022). Net income: NT$2.44b (down 35% from FY 2022). Profit margin: 5.5% (down from 14% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Annonce • Mar 15
Highwealth Construction Corp., Annual General Meeting, Jun 13, 2024 Highwealth Construction Corp., Annual General Meeting, Jun 13, 2024. Board Change • Dec 19
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Tachun Chen was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Nov 15
Highwealth Construction Corp. Announces to Set Up a Sustainable Development Committee and List of Members Highwealth Construction Corp. announced to set up a sustainable development committee and list of members. Name of the functional committees: Sustainable Development Committee. Name of the new position holder: Cao Yuanbo; BLi Wencheng; and BChen Tachun. Resume of the new position holder: Cao Yuanbo-Chairman of Highwealth Construction; Li Wencheng-Independent Director of Highwealth Construction; and Chen Tachun-Independent Director of Highwealth Construction. Effective date of the new member: November 14, 2023. Annonce • Sep 23
Highwealth Construction Corp. and Chia Yuan Receives the Claimant’s Statement of Arbitration Attached to the Letter from the Chinese Arbitration Association, Taipei Highwealth Construction Corp. and Chia Yuan have duly received the claimant’s statement of arbitration attached to the letter from the Chinese Arbitration Association, Taipei. Claimant: Taichung City Government and Taichung Mass Rapid Transit Corporation. Defendant: Highwealth Construction Corp., Chyi-Yuh Construction Co., Ltd. (Hereinafter referred to as Chyi-Yuh), United Machinery International Enterprise Co., Ltd. and Chia Yuan Engineering Co., Ltd. Name of the court or punishing agency of the legal matter: Chinese Arbitration Association, Taipei. Date of occurrence of the event: September 22, 2023. Details of occurrence (including the matter under dispute): With regards to controversies regarding compensation matters for the Taichung MRT construction incident, the Company and Chia Yuan have duly received the claimant’s statement of arbitration attached to the letter from the Chinese Arbitration Association, Taipei. Handling procedure: In order to resolve the above dispute on compensation matters, the Claimant and the Defendant have reached an agreement to resolve it through fair and professional arbitration process, and the defending party, Chyi-Yuh has advanced and prepaid the entire amount of TWD 262,223,235 to a bank account designated by the Claimant in accordance with said arbitration agreement. It fully guarantees that the Claimant will be able to obtain compensation directly from the designated account according to the result of the arbitration in the future. Impact on the Company’s finance and business and projected amount: Since the truth of the damage to the trains and the responsibilities of all parties involved in the Taichung MRT Accident have not yet been fully clarified, the actual impact on the Company cannot be estimated. Annonce • Sep 21
Highwealth Construction Corp. Announces Resumption of Construction Projects in Taichung City Highwealth Construction Corp. announced that the nine construction sites of Highwealth Construction and Run Long Construction in Taichung were suspended by the city government. Construction projects that were completely suspended in Taichung City applied for resumption of work in accordance with relevant regulations and were approved. Currently, 8 construction projects in Taichung City that have been completely suspended (In Including 1 construction project of subsidiary Run Long Construction) have been approved to resume work. Upcoming Dividend • Sep 19
Upcoming dividend of NT$0.50 per share at 1.1% yield Eligible shareholders must have bought the stock before 26 September 2023. Payment date: 31 October 2023. Payout ratio is a comfortable 19% but the company is paying out more than the cash it is generating. Trailing yield: 1.1%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (4.1%). Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: NT$0.32 (vs NT$0.052 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.32 (up from NT$0.052 in 2Q 2022). Revenue: NT$7.72b (up 345% from 2Q 2022). Net income: NT$537.4m (up NT$451.7m from 2Q 2022). Profit margin: 7.0% (up from 4.9% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Annonce • Jun 23
Highwealth Construction Corp. Announces Resignation of Hong Xiyao as Independent Director Highwealth Construction Corp. announced resignation of Hong Xiyao as independent director. Annonce • Jun 22
Highwealth Construction Corp. Announces Resignation of Hong Xiyao as Audit Committee Member Highwealth Construction Corp. announced resignation of Hong Xiyao as Audit Committee member. Annonce • Jun 14
Highwealth Construction Corp. Elects Cao Yuanbo to the Board of Directors Highwealth Construction Corp. at the AGM held on June 13, 2023, elected Cao Yuanbo, Director - Run Ying Investment Co. Ltd. to the board of directors. Reported Earnings • Mar 15
Full year 2022 earnings released: EPS: NT$2.29 (vs NT$5.87 in FY 2021) Full year 2022 results: EPS: NT$2.29 (down from NT$5.87 in FY 2021). Revenue: NT$26.6b (down 40% from FY 2021). Net income: NT$3.74b (down 54% from FY 2021). Profit margin: 14% (down from 19% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 10% per year. Reported Earnings • Nov 18
Third quarter 2022 earnings released: EPS: NT$0.19 (vs NT$1.51 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.19 (down from NT$1.51 in 3Q 2021). Revenue: NT$3.44b (down 67% from 3Q 2021). Net income: NT$318.2m (down 85% from 3Q 2021). Profit margin: 9.2% (down from 20% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Tachun Chen was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Nov 15
Highwealth Construction Corp. Announces Changes in Corporate Governance Officer, Effective December 1, 2022 Highwealth Construction Corp. announced that Zhang,Ming-Wen/financial manager, will replace Lin,Wen-Lung as corporate governance officer, effective December 1, 2022. Upcoming Dividend • Sep 19
Upcoming dividend of NT$4.01 per share Eligible shareholders must have bought the stock before 26 September 2022. Payment date: 31 October 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 8.6%. Within top quartile of Taiwanese dividend payers (6.6%). Higher than average of industry peers (6.1%). Reported Earnings • Aug 13
Second quarter 2022 earnings released: EPS: NT$0.06 (vs NT$1.96 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.06 (down from NT$1.96 in 2Q 2021). Revenue: NT$1.74b (down 89% from 2Q 2021). Net income: NT$85.7m (down 97% from 2Q 2021). Profit margin: 4.9% (down from 16% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 14
First quarter 2022 earnings released: EPS: NT$0.66 (vs NT$2.27 in 1Q 2021) First quarter 2022 results: EPS: NT$0.66 (down from NT$2.27 in 1Q 2021). Revenue: NT$7.03b (down 19% from 1Q 2021). Net income: NT$930.6m (down 67% from 1Q 2021). Profit margin: 13% (down from 33% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target increased to NT$56.00 Up from NT$49.32, the current price target is provided by 1 analyst. New target price is 20% above last closing price of NT$46.70. Stock is up 2.3% over the past year. The company posted earnings per share of NT$6.45 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Tachun Chen was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 17
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$6.45 (up from NT$2.11 in FY 2020). Revenue: NT$44.3b (up 81% from FY 2020). Net income: NT$8.19b (up 209% from FY 2020). Profit margin: 19% (up from 11% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 8.6%, compared to a 17% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Annonce • Jan 30
Highwealth Construction Corp. Signs Joint Construction Contract in Wunshang Section, Situn District, Taichung City Highwealth Construction Corp. announced that on behalf of the subsidiary Bi-Chiang announced signed the land joint construction contract in WunShang Section, Situn District, Taichung City. Major content of the contract (including total contract amount, anticipated monetary amount of participation in the investment, and start and end dates of the contract), restrictive covenants, and other important terms and conditions: Signed the joint construction of two pieces of land in No.19 and 20, WunShang Section, Situn District, Taichung City. Landlord about 40.00%:(Builder) the Company about 60.00%. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS NT$1.66 (vs NT$0.59 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$10.4b (up 34% from 3Q 2020). Net income: NT$2.08b (up 180% from 3Q 2020). Profit margin: 20% (up from 9.5% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 17
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 24 September 2021. Payment date: 29 October 2021. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (5.2%). In line with average of industry peers (4.5%). Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$1.97 (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$15.6b (up 96% from 2Q 2020). Net income: NT$2.46b (up 50% from 2Q 2020). Profit margin: 16% (down from 21% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • May 08
First quarter 2021 earnings released: EPS NT$2.26 (vs NT$0.022 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$8.66b (up 318% from 1Q 2020). Net income: NT$2.86b (up NT$2.83b from 1Q 2020). Profit margin: 33% (up from 1.3% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Price Target Changed • Apr 18
Price target increased to NT$53.50 Up from NT$49.32, the current price target is provided by 1 analyst. New target price is 23% above last closing price of NT$43.60. Stock is up 16% over the past year. Annonce • Mar 20
Highwealth Construction Corp., Annual General Meeting, Jun 10, 2021 Highwealth Construction Corp., Annual General Meeting, Jun 10, 2021. Location: No.8 Zhifu Rd.,Zhongshan District, Taipei City (Serendipity Hall at Dazhi Denwell) Taipei City Taiwan Agenda: To consider Business Report of 2020; to consider Final Statement Report of Audit Committee reviewing the Company of 2020; to consider Compensation distribution for employees and directors for 2020; to consider Distribution of cash dividends from retained earnings for 2020; to consider Report on operating condition of endorsement and guarantee for 2020; and to consider Report on offering and issuance status of corporate bonds. Reported Earnings • Mar 20
Full year 2020 earnings released: EPS NT$2.11 (vs NT$2.42 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: NT$24.5b (up 2.8% from FY 2019). Net income: NT$2.65b (down 13% from FY 2019). Profit margin: 11% (down from 13% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Dec 24
New 90-day high: NT$46.40 The company is up 12% from its price of NT$41.50 on 25 September 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$15.88 per share. Is New 90 Day High Low • Dec 07
New 90-day high: NT$45.85 The company is up 10.0% from its price of NT$41.68 on 08 September 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$14.65 per share. Analyst Estimate Surprise Post Earnings • Nov 14
Revenue beats expectations Revenue exceeded analyst estimates by 87%. Over the next year, revenue is forecast to grow 87%, compared to a 25% growth forecast for the Real Estate industry in Taiwan. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.59 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$7.80b (up 130% from 3Q 2019). Net income: NT$742.6m (up 203% from 3Q 2019). Profit margin: 9.5% (up from 7.2% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Price Target Changed • Oct 07
Price target raised to NT$51.75 Up from NT$47.27, the current price target is an average from 2 analysts. The new target price is 19% above the current share price of NT$43.50. As of last close, the stock is up 5.6% over the past year. Is New 90 Day High Low • Oct 06
New 90-day high: NT$43.70 The company is up 8.0% from its price of NT$40.36 on 08 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 Real Estate industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$14.98 per share. Is New 90 Day High Low • Sep 28
New 90-day high: NT$42.65 The company is up 8.0% from its price of NT$39.59 on 30 June 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$15.05 per share. 
