Board Change • May 21
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Cha-Hwa Hsu was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. New Risk • May 15
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 18% 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 High level of non-cash earnings (22% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.9% average weekly change). Shareholders have been diluted in the past year (18% increase in shares outstanding). Reported Earnings • May 01
First quarter 2026 earnings released First quarter 2026 results: Revenue: NT$4.86b (up 19% from 1Q 2025). Net income: NT$234.6m (up 61% from 1Q 2025). Profit margin: 4.8% (up from 3.6% in 1Q 2025). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$58.60, the stock trades at a trailing P/E ratio of 23.3x. Average trailing P/E is 41x in the Semiconductor industry in Taiwan. Total returns to shareholders of 189% over the past three years. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$55.70, the stock trades at a trailing P/E ratio of 22.1x. Average trailing P/E is 37x in the Semiconductor industry in Taiwan. Total returns to shareholders of 208% over the past three years. Reported Earnings • Feb 26
Full year 2025 earnings released: EPS: NT$2.45 (vs NT$1.71 in FY 2024) Full year 2025 results: EPS: NT$2.45 (up from NT$1.71 in FY 2024). Revenue: NT$19.7b (up 21% from FY 2024). Net income: NT$1.41b (up 49% from FY 2024). Profit margin: 7.2% (up from 5.8% in FY 2024). 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 43% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$58.40, the stock trades at a trailing P/E ratio of 35.2x. Average trailing P/E is 36x in the Semiconductor industry in Taiwan. Total returns to shareholders of 220% over the past three years. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$53.20, the stock trades at a trailing P/E ratio of 32x. Average trailing P/E is 33x in the Semiconductor industry in Taiwan. Total returns to shareholders of 194% over the past three years. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$70.00, the stock trades at a trailing P/E ratio of 42.1x. Average trailing P/E is 33x in the Semiconductor industry in Taiwan. Total returns to shareholders of 326% over the past three years. New Risk • Nov 19
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 8.6% 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 (8.6% average weekly change). High level of non-cash earnings (20% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (5.0% net profit margin). Reported Earnings • Nov 03
Third quarter 2025 earnings released: EPS: NT$0.60 (vs NT$0.25 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.60 (up from NT$0.25 in 3Q 2024). Revenue: NT$5.19b (up 33% from 3Q 2024). Net income: NT$432.0m (up 213% from 3Q 2024). Profit margin: 8.3% (up from 3.5% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 43% per year, which means it is well ahead of earnings. New Risk • Oct 09
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 7.0% 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 High level of non-cash earnings (22% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.0% average weekly change). Profit margins are more than 30% lower than last year (4.2% net profit margin). Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$48.85, the stock trades at a trailing P/E ratio of 37.4x. Average trailing P/E is 32x in the Semiconductor industry in Taiwan. Total returns to shareholders of 210% over the past three years. Reported Earnings • Aug 01
Second quarter 2025 earnings released: EPS: NT$0.54 (vs NT$0.50 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.54 (up from NT$0.50 in 2Q 2024). Revenue: NT$5.26b (up 30% from 2Q 2024). Net income: NT$387.2m (up 41% from 2Q 2024). Profit margin: 7.4% (up from 6.8% 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 11% per year but the company’s share price has increased by 34% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 20
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 26 June 2025. Payment date: 23 July 2025. Payout ratio is on the higher end at 79%, and the cash payout ratio is above 100%. Trailing yield: 2.5%. Lower than top quartile of Taiwanese dividend payers (5.2%). In line with average of industry peers (2.3%). Declared Dividend • Jun 06
Dividend reduced to NT$1.00 Dividend of NT$1.00 is 16% lower than last year. Ex-date: 26th June 2025 Payment date: 23rd July 2025 Dividend yield will be 2.5%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by earnings (79% earnings payout ratio) but not covered by cash flows (117% cash payout ratio). The dividend has increased by an average of 46% per year over the past 5 years. However, payments have been volatile during that time. Earnings per share has grown by 5.6% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Annonce • Jun 05
Orient Semiconductor Electronics, Limited Announces Cash Dividend, Payable on July 23, 2025 Orient Semiconductor Electronics, Limited announced cash dividend of TWD 1.0 of cash dividend per share; totally TWD 560,228,333 allocated for cash dividend. The Payment date of common stock cash dividend distribution of July 23, 2025 with Ex-rights (ex-dividend) trading date of June 26, 2025 and Ex-rights (ex-dividend) record date of July 02, 2025. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$36.75, the stock trades at a trailing P/E ratio of 32.3x. Average trailing P/E is 24x in the Semiconductor industry in Taiwan. Total returns to shareholders of 103% over the past three years. New Risk • Apr 19
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 33% This is considered a major 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 Shareholders have been substantially diluted in the past year (33% increase in shares outstanding). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.2% average weekly change). Profit margins are more than 30% lower than last year (5.8% net profit margin). Annonce • Apr 16
Orient Semiconductor Electronics, Limited to Report Q1, 2025 Results on Apr 23, 2025 Orient Semiconductor Electronics, Limited announced that they will report Q1, 2025 results on Apr 23, 2025 Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to NT$25.95, the stock trades at a trailing P/E ratio of 15.3x. Average trailing P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 41% over the past three years. New Risk • Apr 02
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.8% Last year net profit margin: 8.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (5.8% net profit margin). New Risk • Mar 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.1% average weekly change). Annonce • Feb 27
Orient Semiconductor Electronics, Limited, Annual General Meeting, May 29, 2025 Orient Semiconductor Electronics, Limited, Annual General Meeting, May 29, 2025, at 09:00 Taipei Standard Time. Location: no,9, chung san st., nanzih district, kaohsiung city Taiwan Annonce • Feb 19
Orient Semiconductor Electronics, Limited to Report Fiscal Year 2024 Results on Feb 26, 2025 Orient Semiconductor Electronics, Limited announced that they will report fiscal year 2024 results on Feb 26, 2025 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. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.2% average weekly change). Reported Earnings • Nov 05
Third quarter 2024 earnings released: EPS: NT$0.25 (vs NT$0.82 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.25 (down from NT$0.82 in 3Q 2023). Revenue: NT$3.91b (down 17% from 3Q 2023). Net income: NT$177.3m (down 61% from 3Q 2023). Profit margin: 4.5% (down from 9.7% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 13% per year. Valuation Update With 7 Day Price Move • Oct 23
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$45.80, the stock trades at a trailing P/E ratio of 16x. Average trailing P/E is 32x in the Semiconductor industry in Taiwan. Total returns to shareholders of 108% over the past three years. Annonce • Oct 22
Orient Semiconductor Electronics, Limited to Report Q3, 2024 Results on Oct 29, 2024 Orient Semiconductor Electronics, Limited announced that they will report Q3, 2024 results on Oct 29, 2024 Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: NT$0.50 (vs NT$0.72 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.50 (down from NT$0.72 in 2Q 2023). Revenue: NT$4.06b (up 1.5% from 2Q 2023). Net income: NT$353.6m (down 12% from 2Q 2023). Profit margin: 8.7% (down from 10.0% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 15% per year. Annonce • Jul 25
Orient Semiconductor Electronics, Limited Appoints Sixth Term of Remuneration Committee Orient Semiconductor Electronics, Limited announced that the board resolution to appoint the members of the 6th term of Remuneration Committee. Name of the previous position holder: (1)Ching-Tien Tsai (2)Jeng-Ren Chiou (3)Chia-Hua Hsu; Resume of the previous position holder: (1)Ching-Tien Tsai /Independent director of the company (2)Jeng-Ren Chiou /Independent director of the company (3)Chia-Hua Hsu /Independent director of the company; Name of the new position holder: (1)Chia-Hua Hsu (2)Philip Wei (3)Chi-Cheng Wu (4)Fang-Yu Wen(5))Chien-Hui Hung; Resume of the new position holder: (1)Chia-Hua Hsu/Independent director of the company (2)Philip Wei/Director of CyberSoft Digital Services Corp. (3)Chi-Cheng Wu/Professor, Department of Business Administration, National Sun Yat-sen University (4)Fang-Yu Wen/Accountant, Fang-Yu Wen CPA Firm (5)Chien-Hui Hung/Assistant Vice President, Central District; Reason for the change: new appointment resulted from the re-election of BOD; Effective date of the new member: July 24, 2024. Annonce • Jul 17
Orient Semiconductor Electronics, Limited to Report Q2, 2024 Results on Jul 24, 2024 Orient Semiconductor Electronics, Limited announced that they will report Q2, 2024 results on Jul 24, 2024 Buy Or Sell Opportunity • Jul 01
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to NT$58.50. The fair value is estimated to be NT$75.96, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Meanwhile, the company has become profitable. Board Change • Jul 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Fang-Yu Wen was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • Jun 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to NT$60.60. The fair value is estimated to be NT$75.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Meanwhile, the company has become profitable. Declared Dividend • Jun 13
Dividend increased to NT$1.19 Dividend of NT$1.19 is 40% higher than last year. Ex-date: 26th June 2024 Payment date: 24th July 2024 Dividend yield will be 2.0%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has increased by an average of 68% per year over the past 4 years. However, payments have been volatile during that time. Earnings per share has grown by 103% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Annonce • Jun 13
Orient Semiconductor Electronics, Limited Announces Cash Dividend, Payable on July 24, 2024 Orient Semiconductor Electronics, Limited announced cash dividend is TWD 1.20 per share. Ex-rights (ex-dividend) trading date is June 29, 2023. Ex-rights (ex-dividend) record date is July 2, 2024. Payment date of cash dividend distribution is July 24, 2024. Buy Or Sell Opportunity • Jun 11
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to NT$58.80. The fair value is estimated to be NT$75.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: NT$0.70 (vs NT$0.25 in 1Q 2023) First quarter 2024 results: EPS: NT$0.70 (up from NT$0.25 in 1Q 2023). Revenue: NT$4.18b (up 28% from 1Q 2023). Net income: NT$499.3m (up 256% from 1Q 2023). Profit margin: 12% (up from 4.3% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.7% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Apr 19
Orient Semiconductor Electronics, Limited to Report Q1, 2024 Results on Apr 24, 2024 Orient Semiconductor Electronics, Limited announced that they will report Q1, 2024 results on Apr 24, 2024 New Risk • Apr 17
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 8.7% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 03
Full year 2023 earnings released: EPS: NT$2.66 (vs NT$2.02 in FY 2022) Full year 2023 results: EPS: NT$2.66 (up from NT$2.02 in FY 2022). Revenue: NT$16.7b (up 7.5% from FY 2022). Net income: NT$1.88b (up 68% from FY 2022). Profit margin: 11% (up from 7.2% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.4% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has increased by 63% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Feb 16
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 7.5% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.5% average weekly change). Minor Risk Shareholders have been diluted in the past year (32% increase in shares outstanding). Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$77.40, the stock trades at a trailing P/E ratio of 50.3x. Average forward P/E is 20x in the Semiconductor industry in Taiwan. Total returns to shareholders of 406% over the past three years. Annonce • Feb 01
Orient Semiconductor Electronics, Limited, Annual General Meeting, Jun 07, 2024 Orient Semiconductor Electronics, Limited, Annual General Meeting, Jun 07, 2024. Location: No. 9, Central 3rd St., Nanzih Dist. Kaohsiung City Taiwan Agenda: To consider 2023 Business Report; to consider Audit Committee's Review Report; and to consider 2023 Employees' compensation and Directors' remuneration; to consider Distribution of 2023 profits; to consider Re-Election of Directors and Independent Directors; and to consider other related matters. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$58.30, the stock trades at a trailing P/E ratio of 37.9x. Average forward P/E is 19x in the Semiconductor industry in Taiwan. Total returns to shareholders of 330% over the past three years. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$49.00, the stock trades at a trailing P/E ratio of 34.3x. Average forward P/E is 19x in the Semiconductor industry in Taiwan. Total returns to shareholders of 382% over the past three years. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: NT$0.82 (vs NT$0.65 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.82 (up from NT$0.65 in 3Q 2022). Revenue: NT$4.70b (up 23% from 3Q 2022). Net income: NT$586.7m (up 63% from 3Q 2022). Profit margin: 13% (up from 9.4% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 2 years compared to a 14% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 55% per year whereas the company’s share price has increased by 57% per year. Reported Earnings • Jul 28
Second quarter 2023 earnings released: EPS: NT$0.72 (vs NT$0.61 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.72 (up from NT$0.61 in 2Q 2022). Revenue: NT$4.00b (down 6.8% from 2Q 2022). Net income: NT$514.4m (up 52% from 2Q 2022). Profit margin: 13% (up from 7.9% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 60% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$35.50, the stock trades at a trailing P/E ratio of 30.2x. Average trailing P/E is 19x in the Semiconductor industry in Taiwan. Total returns to shareholders of 254% over the past three years. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$27.55, the stock trades at a trailing P/E ratio of 23.4x. Average trailing P/E is 20x in the Semiconductor industry in Taiwan. Total returns to shareholders of 152% over the past three years. Reported Earnings • Jun 26
First quarter 2023 earnings released: EPS: NT$0.25 (vs NT$0.52 in 1Q 2022) First quarter 2023 results: EPS: NT$0.25 (down from NT$0.52 in 1Q 2022). Revenue: NT$3.25b (down 15% from 1Q 2022). Net income: NT$140.1m (down 51% from 1Q 2022). Profit margin: 4.3% (down from 7.5% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 22
Upcoming dividend of NT$0.85 per share at 3.6% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 26 July 2023. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.2%). Annonce • Jun 13
Orient Semiconductor Electronics, Limited Announces Cash Dividend, Payable on July 26, 2023 Orient Semiconductor Electronics, Limited announced cash dividend is TWD 0.85 per share. Ex-rights (ex-dividend) trading date is June 29, 2023. Ex-rights (ex-dividend) record date is July 5, 2023. Payment date of cash dividend distribution is July 26, 2023. Reported Earnings • Mar 01
Full year 2022 earnings released: EPS: NT$2.02 (vs NT$2.24 in FY 2021) Full year 2022 results: EPS: NT$2.02. Revenue: NT$15.5b (down 2.6% from FY 2021). Net income: NT$1.45b (up 17% from FY 2021). Profit margin: 9.3% (up from 7.8% in FY 2021). The increase in margin was driven by lower expenses. Buying Opportunity • Nov 16
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be NT$23.54, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.8% over the last 3 years. Earnings per share has grown by 59%. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: NT$0.65 (vs NT$0.64 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.65 (up from NT$0.64 in 3Q 2021). Revenue: NT$3.81b (down 3.6% from 3Q 2021). Net income: NT$432.8m (up 22% from 3Q 2021). Profit margin: 11% (up from 9.0% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 14
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 21 July 2022. Payment date: 18 August 2022. Trailing yield: 6.2%. Lower than top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (3.9%). Annonce • Jun 30
Orient Semiconductor Electronics, Limited. Announces Cash Dividend Distribution, Payable on August 18, 2022 Orient Semiconductor Electronics, Limited announced dividend distribution of cash dividend is TWD 1 per share and the total amount is TWD 733,915,533. Ex-rights (ex-dividend) trading date is July 21, 2022. Ex-rights (ex-dividend) record date is July 27, 2022. The Chairman was authorized to decide the Ex-dividend record date according to the resolutions of Board meeting on April 28, 2022. The expected date for cash dividend payment is August 18, 2022. Reported Earnings • May 02
First quarter 2022 earnings released: EPS: NT$0.52 (vs NT$0.40 in 1Q 2021) First quarter 2022 results: EPS: NT$0.52 (up from NT$0.40 in 1Q 2021). Revenue: NT$3.84b (up 1.3% from 1Q 2021). Net income: NT$367.4m (up 67% from 1Q 2021). Profit margin: 9.6% (up from 5.8% in 1Q 2021). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 28
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: NT$2.24 (up from NT$0.48 loss in FY 2020). Revenue: NT$15.9b (up 15% from FY 2020). Net income: NT$1.53b (up NT$1.80b from FY 2020). Profit margin: 9.6% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 9.1%. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Annonce • Feb 26
Orient Semiconductor Electronics, Limited, Annual General Meeting, Jun 10, 2022 Orient Semiconductor Electronics, Limited, Annual General Meeting, Jun 10, 2022. Location: No. 600, Chia-Chang Road Nan-Zih District, Kaohsiung City Kaohsiung City Taiwan Agenda: To consider 2021 Business Report; to consider Audit Committee's Review Report; to consider 2021 Employees' compensation and Directors' remuneration; to consider the proposal for cash distribution of 2021 profits; to consider 2021 Business Report and Financial Statements; to consider Distribution of 2021 profits; to consider Amendments to the Procedure for Acquisition or Disposal of Assets; and to consider other matters. Reported Earnings • Nov 01
Third quarter 2021 earnings released: EPS NT$0.64 (vs NT$0.021 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$3.95b (up 21% from 3Q 2020). Net income: NT$356.1m (up NT$344.6m from 3Q 2020). Profit margin: 9.0% (up from 0.4% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$25.20, the stock trades at a trailing P/E ratio of 21.6x. Average trailing P/E is 20x in the Semiconductor industry in Taiwan. Total returns to shareholders of 72% over the past three years. Reported Earnings • Aug 01
Second quarter 2021 earnings released: EPS NT$0.77 (vs NT$0.50 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$4.15b (up 19% from 2Q 2020). Net income: NT$424.0m (up NT$698.4m from 2Q 2020). Profit margin: 10% (up from net loss in 2Q 2020). The move to profitability was primarily 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 22% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 11
First quarter 2021 earnings released: EPS NT$0.40 (vs NT$0.015 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$3.79b (up 4.0% from 1Q 2020). Net income: NT$220.4m (up NT$211.9m from 1Q 2020). Profit margin: 5.8% (up from 0.2% in 1Q 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 13
Full year 2020 earnings released: NT$0.48 loss per share (vs NT$1.07 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: NT$13.9b (down 21% from FY 2019). Net loss: NT$266.1m (down 145% from profit in FY 2019). Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Annonce • Mar 11
Orient Semiconductor Electronics, Limited, Annual General Meeting, May 28, 2021 Orient Semiconductor Electronics, Limited, Annual General Meeting, May 28, 2021, at 09:00 Taipei Standard Time. Location: 600 Chia-Chang Road Nan-Zih District Kaohsiung City Taiwan Agenda: To consider and approve 2020 business report and financial statements; to consider the approval of audit committee's review report; to consider the approval of the progress of the issuance of securities in private placement of 2020; to consider the approval of 2020 deficit compensation; to consider the approval of amendments to the Articles of Incorporation; to consider the approval of amendments to the Procedure for acquisition or disposal of assets; and to consider the approval of full re-election of directors and independent directors in advance. Is New 90 Day High Low • Feb 20
New 90-day high: NT$16.90 The company is up 39% from its price of NT$12.15 on 20 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 35% over the same period. Annonce • Jan 28
Orient Semiconductor Electronics Limited Approves Appointment of Hsu, Cha-Hwa to Its Remuneration Committee Member of the Company Orient Semiconductor Electronics Limited approved the appointment of Hsu, Cha-Hwa; Chairman, Chilin Optoelectronics Co. Ltd. to its Remuneration Committee member of the company. Effective January 26, 2021. Is New 90 Day High Low • Jan 05
New 90-day high: NT$16.10 The company is up 50% from its price of NT$10.75 on 07 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 25% over the same period. Is New 90 Day High Low • Dec 18
New 90-day high: NT$15.05 The company is up 35% from its price of NT$11.15 on 18 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 17% over the same period. Is New 90 Day High Low • Nov 20
New 90-day high: NT$12.15 The company is up 13% from its price of NT$10.75 on 21 August 2020. The Taiwanese market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 16% over the same period. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS NT$0.02 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$3.26b (down 34% from 3Q 2019). Net income: NT$11.5m (down 95% from 3Q 2019). Profit margin: 0.4% (down from 5.0% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Sep 24
New 90-day low: NT$10.50 The company is down 10.0% from its price of NT$11.70 on 24 June 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 26% over the same period.