New Risk • May 18
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -NT$344m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-NT$344m free cash flow). Earnings have declined by 42% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (NT$998.2m market cap, or US$31.6m). Reported Earnings • May 18
First quarter 2026 earnings released: NT$3.00 loss per share (vs NT$3.56 loss in 1Q 2025) First quarter 2026 results: NT$3.00 loss per share (improved from NT$3.56 loss in 1Q 2025). Revenue: NT$465.1m (down 57% from 1Q 2025). Net loss: NT$365.0m (loss narrowed 6.3% from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 43% per year, which means it is performing significantly worse than earnings. Reported Earnings • Mar 17
Full year 2025 earnings released: NT$10.06 loss per share (vs NT$8.88 loss in FY 2024) Full year 2025 results: NT$10.06 loss per share (further deteriorated from NT$8.88 loss in FY 2024). Revenue: NT$3.26b (down 33% from FY 2024). Net loss: NT$1.10b (loss widened 25% from FY 2024). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 45% per year, which means it is significantly lagging earnings. Annuncio • Mar 13
Green River Holding Co. Ltd., Annual General Meeting, Jun 17, 2026 Green River Holding Co. Ltd., Annual General Meeting, Jun 17, 2026. Location: 4 floor no,1, sec.5 shen yih rd., sinyi district, taipei city Taiwan Board Change • Dec 08
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 not an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Jun-En Chang was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 16
Third quarter 2025 earnings released: NT$4.24 loss per share (vs NT$1.18 loss in 3Q 2024) Third quarter 2025 results: NT$4.24 loss per share (further deteriorated from NT$1.18 loss in 3Q 2024). Revenue: NT$714.9m (down 44% from 3Q 2024). Net loss: NT$466.7m (loss widened 295% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. New Risk • Nov 13
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: Major Risks Less than 1 year of cash runway based on free cash flow trend (-NT$462m free cash flow). Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (NT$1.13b market cap, or US$36.2m). Reported Earnings • Sep 02
Second quarter 2025 earnings released: EPS: NT$1.96 (vs NT$0.60 loss in 2Q 2024) Second quarter 2025 results: EPS: NT$1.96 (up from NT$0.60 loss in 2Q 2024). Revenue: NT$876.7m (down 36% from 2Q 2024). Net income: NT$215.6m (up NT$275.9m from 2Q 2024). Profit margin: 25% (up from net loss in 2Q 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. New Risk • Jun 21
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 8.7% 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: Major Risks Less than 1 year of cash runway based on free cash flow trend (-NT$246m free cash flow). Earnings have declined by 43% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Market cap is less than US$100m (NT$1.58b market cap, or US$53.4m). Reported Earnings • May 17
First quarter 2025 earnings released: NT$3.56 loss per share (vs NT$2.96 loss in 1Q 2024) First quarter 2025 results: NT$3.56 loss per share (further deteriorated from NT$2.96 loss in 1Q 2024). Revenue: NT$1.09b (down 15% from 1Q 2024). Net loss: NT$389.5m (loss widened 31% from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 34% per year whereas the company’s share price has fallen by 32% per year. Annuncio • May 01
Green River Holding Co. Ltd. to Report Q1, 2025 Results on May 08, 2025 Green River Holding Co. Ltd. announced that they will report Q1, 2025 results on May 08, 2025 Reported Earnings • Mar 28
Full year 2024 earnings released: NT$8.88 loss per share (vs NT$6.98 loss in FY 2023) Full year 2024 results: NT$8.88 loss per share (further deteriorated from NT$6.98 loss in FY 2023). Revenue: NT$4.88b (up 4.9% from FY 2023). Net loss: NT$887.7m (loss widened 43% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 36% per year, which means it has not declined as severely as earnings. New Risk • Mar 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 6.1% 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: Major Risks Debt is not well covered by operating cash flow (4.1% operating cash flow to total debt). Earnings have declined by 35% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (NT$2.73b market cap, or US$82.7m). Annuncio • Mar 14
Green River Holding Co. Ltd. Announces Appointment of Members of its First Sustainable Development Committee Green River Holding Co. Ltd. announced appointment of members of the Company’s first Sustainable Development Committee by the Board of Directors. Name of the new position holder: Hsieh, Jung-Hui /Chairman of the Company; Huang, Teng-Shih /Chief Executive Officer and Chief Operating Officer of the Company; Wang, Sheng Feng /Chief Financial Officer dual Accounting Officer and Spokesperson of the Company. Effective date of the new member: March 12, 2025. Annuncio • Mar 13
Green River Holding Co. Ltd., Annual General Meeting, Jun 20, 2025 Green River Holding Co. Ltd., Annual General Meeting, Jun 20, 2025. Location: 4 floor no,160, sec.3 jen ai rd., taipei city Taiwan Annuncio • Mar 05
Green River Holding Co. Ltd. to Report Fiscal Year 2024 Results on Mar 12, 2025 Green River Holding Co. Ltd. announced that they will report fiscal year 2024 results on Mar 12, 2025 New Risk • Jan 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 10% 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 Risks Debt is not well covered by operating cash flow (4.1% operating cash flow to total debt). Earnings have declined by 35% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (10% increase in shares outstanding). Market cap is less than US$100m (NT$3.18b market cap, or US$96.0m). Reported Earnings • Nov 18
Third quarter 2024 earnings released: NT$1.18 loss per share (vs NT$3.96 loss in 3Q 2023) Third quarter 2024 results: NT$1.18 loss per share (improved from NT$3.96 loss in 3Q 2023). Revenue: NT$1.28b (up 22% from 3Q 2023). Net loss: NT$118.2m (loss narrowed 66% from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 38% per year, which means it has not declined as severely as earnings. New Risk • Nov 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.20b (US$99.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.02x net interest cover). Earnings have declined by 34% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (12% increase in shares outstanding). Market cap is less than US$100m (NT$3.20b market cap, or US$99.1m). Annuncio • Nov 06
Green River Holding Co. Ltd. to Report Nine Months, 2024 Results on Nov 13, 2024 Green River Holding Co. Ltd. announced that they will report nine months, 2024 results on Nov 13, 2024 Reported Earnings • Sep 03
Second quarter 2024 earnings released: NT$0.60 loss per share (vs NT$1.98 loss in 2Q 2023) Second quarter 2024 results: NT$0.60 loss per share (improved from NT$1.98 loss in 2Q 2023). Revenue: NT$1.36b (up 17% from 2Q 2023). Net loss: NT$60.3m (loss narrowed 66% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Annuncio • Aug 14
Green River Holding Co. Ltd. to Report Q2, 2024 Results on Aug 21, 2024 Green River Holding Co. Ltd. announced that they will report Q2, 2024 results on Aug 21, 2024 Reported Earnings • May 19
First quarter 2024 earnings released: NT$2.96 loss per share (vs NT$1.72 loss in 1Q 2023) First quarter 2024 results: NT$2.96 loss per share (further deteriorated from NT$1.72 loss in 1Q 2023). Revenue: NT$1.28b (up 18% from 1Q 2023). Net loss: NT$296.4m (loss widened 94% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Annuncio • Apr 11
Green River Holding Co. Ltd., Annual General Meeting, Jun 25, 2024 Green River Holding Co. Ltd., Annual General Meeting, Jun 25, 2024. Reported Earnings • Mar 27
Full year 2023 earnings released: NT$6.98 loss per share (vs NT$8.82 loss in FY 2022) Full year 2023 results: NT$6.98 loss per share (improved from NT$8.82 loss in FY 2022). Revenue: NT$4.65b (up 23% from FY 2022). Net loss: NT$622.4m (loss narrowed 21% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. New Risk • Nov 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 12% 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 30% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (12% increase in shares outstanding). Reported Earnings • Aug 30
Second quarter 2023 earnings released: NT$1.98 loss per share (vs NT$1.18 loss in 2Q 2022) Second quarter 2023 results: NT$1.98 loss per share (further deteriorated from NT$1.18 loss in 2Q 2022). Revenue: NT$1.16b (up 9.0% from 2Q 2022). Net loss: NT$175.8m (loss widened 67% from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 31
Full year 2022 earnings released: NT$8.82 loss per share (vs NT$4.62 profit in FY 2021) Full year 2022 results: NT$8.82 loss per share (down from NT$4.62 profit in FY 2021). Revenue: NT$3.79b (down 34% from FY 2021). Net loss: NT$787.3m (down 300% from profit in FY 2021). 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 20% per year, which means it is well ahead of earnings. Annuncio • Dec 30
Green River Holding Co. Ltd. Announces Appointment of Corporate Governance Officer of the Company Green River Holding Co. Ltd. announced for the appointment of Corporate Governance Officer of the Company. Name, title, and resume of the previous position holder: NA. Name, title, and resume of the new position holder: Wang Ping Hsun, Accounting manager of the Company. Reason for the change: New replacement. Reported Earnings • Nov 19
Third quarter 2022 earnings released: NT$5.84 loss per share (vs NT$1.63 profit in 3Q 2021) Third quarter 2022 results: NT$5.84 loss per share (down from NT$1.63 profit in 3Q 2021). Revenue: NT$641.2m (down 47% from 3Q 2021). Net loss: NT$520.0m (down 478% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Board Change • Nov 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. 1 experienced director. 5 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Yu-Hsuan Chen was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Sep 05
Upcoming dividend of NT$0.30 per share Eligible shareholders must have bought the stock before 12 September 2022. Payment date: 06 October 2022. The company last paid an ordinary dividend in April 2014. The average dividend yield among industry peers is 5.8%. Reported Earnings • Sep 01
Second quarter 2022 earnings released: NT$1.18 loss per share (vs NT$1.87 profit in 2Q 2021) Second quarter 2022 results: NT$1.18 loss per share (down from NT$1.87 profit in 2Q 2021). Revenue: NT$1.06b (down 34% from 2Q 2021). Net loss: NT$105.1m (down 167% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Annuncio • Aug 20
Green River Holding Co. Ltd. Announces Cash Dividend, Payable on October 6, 2022 Green River Holding Co. Ltd. board of directors not to distribute dividends from earnings, and approved cash distribution from capital surplus. Cash dividends distributed from legal reserve and capital reserve to shareholders of TWD 0.30000001 per share. Total amount of cash dividends to shareholders TWD 26,690,954. Ex-rights (Ex-dividend) date is September 12, 2022. Ex-rights (Ex-dividend) record date is September 18, 2022. Payment date of cash dividend distribution is October 6, 2022. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment deteriorated over the past week After last week's 20% share price decline to NT$50.60, the stock trades at a trailing P/E ratio of 12.7x. Average trailing P/E is 14x in the Forestry industry in Taiwan. Total loss to shareholders of 36% over the past three years. Reported Earnings • May 19
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: NT$0.89 loss per share (down from NT$0.49 loss in 1Q 2021). Revenue: NT$1.30b (flat on 1Q 2021). Net loss: NT$79.2m (loss widened 92% from 1Q 2021). Revenue missed analyst estimates by 7.6%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment deteriorated over the past week After last week's 21% share price decline to NT$70.00, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 16x in the Forestry industry in Taiwan. Total loss to shareholders of 21% over the past three years. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 5 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Jun-En Chang was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Apr 03
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: NT$4.62 (up from NT$0.27 loss in FY 2020). Revenue: NT$5.75b (up 64% from FY 2020). Net income: NT$394.3m (up NT$417.0m from FY 2020). Profit margin: 6.9% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 7.6%. Earnings per share (EPS) also missed analyst estimates by 161%. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment improved over the past week After last week's 17% share price gain to NT$143, the stock trades at a trailing P/E ratio of 59.7x. Average trailing P/E is 20x in the Forestry industry in Taiwan. Total returns to shareholders of 57% over the past three years. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$1.63 (vs NT$0.96 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.20b (up 18% from 3Q 2020). Net income: NT$137.5m (up 70% from 3Q 2020). Profit margin: 12% (up from 7.9% 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 55% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment improved over the past week After last week's 19% share price gain to NT$101, the stock trades at a trailing P/E ratio of 62x. Average trailing P/E is 16x in the Forestry industry in Taiwan. Total returns to shareholders of 18% over the past three years. Reported Earnings • Aug 31
Second quarter 2021 earnings released: EPS NT$1.87 (vs NT$0.14 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$1.60b (up 132% from 2Q 2020). Net income: NT$158.0m (up NT$169.4m from 2Q 2020). Profit margin: 9.9% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year and the company’s share price has also fallen by 7% per year. Reported Earnings • May 15
First quarter 2021 earnings released: NT$0.49 loss per share (vs NT$0.47 loss in 1Q 2020) The company reported a solid first quarter result with improved revenues and control over costs, although losses increased. First quarter 2021 results: Revenue: NT$1.30b (up 126% from 1Q 2020). Net loss: NT$41.3m (loss widened 5.3% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 01
Full year 2020 earnings released: NT$0.27 loss per share (vs NT$3.63 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: NT$3.50b (up 25% from FY 2019). Net loss: NT$22.7m (loss narrowed 93% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.96 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.02b (up 36% from 3Q 2019). Net income: NT$80.7m (up NT$147.6m from 3Q 2019). Profit margin: 7.9% (up from net loss in 3Q 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 110% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 13
New 90-day high: NT$71.50 The company is up 1.0% from its price of NT$70.60 on 14 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Forestry industry, which is up 14% over the same period.