Reported Earnings • May 15
First quarter 2026 earnings released: EPS: NT$1.00 (vs NT$1.22 in 1Q 2025) First quarter 2026 results: EPS: NT$1.00 (down from NT$1.22 in 1Q 2025). Revenue: NT$585.9m (up 6.1% from 1Q 2025). Net income: NT$21.7m (down 16% from 1Q 2025). Profit margin: 3.7% (down from 4.7% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 19
Upcoming dividend of NT$1.10 per share Eligible shareholders must have bought the stock before 26 March 2026. Payment date: 24 April 2026. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (4.1%). Reported Earnings • Mar 12
Full year 2025 earnings released: EPS: NT$3.17 (vs NT$3.15 in FY 2024) Full year 2025 results: EPS: NT$3.17 (up from NT$3.15 in FY 2024). Revenue: NT$2.30b (up 5.7% from FY 2024). Net income: NT$67.2m (flat on FY 2024). Profit margin: 2.9% (down from 3.1% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Board Change • Mar 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Annuncio • Feb 25
Zhen Yu Hardware Co., Ltd., Annual General Meeting, May 28, 2026 Zhen Yu Hardware Co., Ltd., Annual General Meeting, May 28, 2026. Location: 6 floor no,27, sec.2 huan chung rd., hsi tun district, taichung city Taiwan Buy Or Sell Opportunity • Jan 15
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.0% to NT$81.90. The fair value is estimated to be NT$103, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.2% over the last 3 years. Earnings per share has grown by 6.8%. Buy Or Sell Opportunity • Dec 30
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.1% to NT$81.00. The fair value is estimated to be NT$103, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.2% over the last 3 years. Earnings per share has grown by 6.8%. Buy Or Sell Opportunity • Dec 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.1% to NT$83.20. The fair value is estimated to be NT$104, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.2% over the last 3 years. Earnings per share has grown by 6.8%. Board Change • Dec 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Nov 15
Third quarter 2025 earnings released: EPS: NT$0.81 (vs NT$0.80 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.81 (up from NT$0.80 in 3Q 2024). Revenue: NT$593.9m (up 6.1% from 3Q 2024). Net income: NT$17.3m (up 1.9% from 3Q 2024). Profit margin: 2.9% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Upcoming Dividend • Oct 24
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 31 October 2025. Payment date: 28 November 2025. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.7%). Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: NT$0.58 (vs NT$0.70 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.58 (down from NT$0.70 in 2Q 2024). Revenue: NT$556.8m (up 5.7% from 2Q 2024). Net income: NT$12.3m (down 18% from 2Q 2024). Profit margin: 2.2% (down from 2.8% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 4% per year. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: NT$1.34 (vs NT$0.98 in 1Q 2024) First quarter 2025 results: EPS: NT$1.34 (up from NT$0.98 in 1Q 2024). Revenue: NT$552.2m (up 7.8% from 1Q 2024). Net income: NT$25.9m (up 37% from 1Q 2024). Profit margin: 4.7% (up from 3.7% in 1Q 2024). 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 only fallen by 9% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 20
Upcoming dividend of NT$1.10 per share Eligible shareholders must have bought the stock before 27 March 2025. Payment date: 25 April 2025. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Taiwanese dividend payers (4.6%). Lower than average of industry peers (3.4%). Reported Earnings • Mar 13
Full year 2024 earnings released: EPS: NT$3.46 (vs NT$2.32 in FY 2023) Full year 2024 results: EPS: NT$3.46 (up from NT$2.32 in FY 2023). Revenue: NT$2.17b (up 11% from FY 2023). Net income: NT$66.7m (up 49% from FY 2023). Profit margin: 3.1% (up from 2.3% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Annuncio • Feb 27
Zhen Yu Hardware Co., Ltd., Annual General Meeting, May 28, 2025 Zhen Yu Hardware Co., Ltd., Annual General Meeting, May 28, 2025. Location: 6 floor no,27, sec.2 huan chung rd., hsi tun district, taichung city Taiwan Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: NT$0.88 (vs NT$0.61 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.88 (up from NT$0.61 in 3Q 2023). Revenue: NT$559.8m (up 10% from 3Q 2023). Net income: NT$16.9m (up 43% from 3Q 2023). Profit margin: 3.0% (up from 2.3% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Oct 01
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 08 October 2024. Payment date: 01 November 2024. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Taiwanese dividend payers (4.3%). Lower than average of industry peers (3.0%). Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.77 (vs NT$0.42 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.77 (up from NT$0.42 in 2Q 2023). Revenue: NT$526.9m (up 10% from 2Q 2023). Net income: NT$14.9m (up 83% from 2Q 2023). Profit margin: 2.8% (up from 1.7% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. New Risk • Jun 10
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.9x net interest cover). Earnings have declined by 18% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$1.69b market cap, or US$52.0m). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.98 (vs NT$0.64 in 1Q 2023) First quarter 2024 results: EPS: NT$0.98 (up from NT$0.64 in 1Q 2023). Revenue: NT$512.2m (up 10% from 1Q 2023). Net income: NT$18.9m (up 53% from 1Q 2023). Profit margin: 3.7% (up from 2.7% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 21
Upcoming dividend of NT$0.80 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 25 April 2024. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (4.7%). Lower than average of industry peers (3.3%). Annuncio • Mar 14
Zhen Yu Hardware Co., Ltd., Annual General Meeting, May 28, 2024 Zhen Yu Hardware Co., Ltd., Annual General Meeting, May 28, 2024. Reported Earnings • Mar 12
Full year 2023 earnings released: EPS: NT$2.32 (vs NT$3.47 in FY 2022) Full year 2023 results: EPS: NT$2.32 (down from NT$3.47 in FY 2022). Revenue: NT$1.97b (up 6.8% from FY 2022). Net income: NT$44.7m (down 33% from FY 2022). Profit margin: 2.3% (down from 3.6% 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 38% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 29
Upcoming dividend of NT$0.50 per share at 1.2% yield Eligible shareholders must have bought the stock before 06 October 2023. Payment date: 03 November 2023. Payout ratio is a comfortable 69% but the company is paying out more than the cash it is generating. Trailing yield: 1.2%. Lower than top quartile of Taiwanese dividend payers (5.5%). In line with average of industry peers (1.2%). Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: NT$0.42 (vs NT$1.05 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.42 (down from NT$1.05 in 2Q 2022). Revenue: NT$478.1m (up 3.7% from 2Q 2022). Net income: NT$8.14m (down 60% from 2Q 2022). Profit margin: 1.7% (down from 4.4% in 2Q 2022). The decrease in margin was driven by higher expenses. New Risk • Jun 12
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.2% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining 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 Risk Earnings have declined by 2.3% per year over the past 5 years. 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 (3.6% net profit margin). Market cap is less than US$100m (NT$1.76b market cap, or US$57.1m). Upcoming Dividend • Mar 16
Upcoming dividend of NT$1.00 per share at 2.2% yield Eligible shareholders must have bought the stock before 23 March 2023. Payment date: 20 April 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (6.1%). Lower than average of industry peers (3.7%). Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.76 (vs NT$1.82 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.76 (down from NT$1.82 in 3Q 2021). Revenue: NT$473.9m (up 4.0% from 3Q 2021). Net income: NT$14.7m (down 53% from 3Q 2021). Profit margin: 3.1% (down from 6.9% in 3Q 2021). The decrease in margin was driven by higher expenses. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.76 (vs NT$1.82 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.76 (down from NT$1.82 in 3Q 2021). Revenue: NT$473.9m (up 4.0% from 3Q 2021). Net income: NT$14.7m (down 53% from 3Q 2021). Profit margin: 3.1% (down from 6.9% in 3Q 2021). The decrease in margin was driven by higher expenses. Upcoming Dividend • Oct 04
Upcoming dividend of NT$1.20 per share Eligible shareholders must have bought the stock before 11 October 2022. Payment date: 04 November 2022. Payout ratio is on the higher end at 97%, however this is supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Taiwanese dividend payers (7.0%). Lower than average of industry peers (4.0%). Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$1.05 (vs NT$1.64 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.05 (down from NT$1.64 in 2Q 2021). Revenue: NT$461.2m (up 9.4% from 2Q 2021). Net income: NT$20.2m (down 29% from 2Q 2021). Profit margin: 4.4% (down from 6.7% in 2Q 2021). The decrease in margin was driven by higher expenses. Upcoming Dividend • Jun 30
Upcoming dividend of NT$3.80 per share Eligible shareholders must have bought the stock before 07 July 2022. Payment date: 29 July 2022. Payout ratio is a comfortable 66% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Taiwanese dividend payers (6.4%). In line with average of industry peers (3.6%). Reported Earnings • May 17
First quarter 2022 earnings released: EPS: NT$1.32 (vs NT$1.83 in 1Q 2021) First quarter 2022 results: EPS: NT$1.32 (down from NT$1.83 in 1Q 2021). Revenue: NT$436.0m (up 5.0% from 1Q 2021). Net income: NT$25.4m (down 20% from 1Q 2021). Profit margin: 5.8% (down from 7.6% in 1Q 2021). The decrease in margin was driven by higher expenses. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: NT$6.26 (vs NT$6.10 in FY 2020) Full year 2021 results: EPS: NT$6.26 (up from NT$6.10 in FY 2020). Revenue: NT$1.73b (up 9.2% from FY 2020). Net income: NT$110.5m (up 9.7% from FY 2020). Profit margin: 6.4% (in line with FY 2020). Buying Opportunity • Feb 17
Now 21% undervalued Over the last 90 days, the stock is up 23%. The fair value is estimated to be NT$180, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.4% per annum over the last 3 years. Earnings per share has been flat over the last 3 years. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improved over the past week After last week's 15% share price gain to NT$147, the stock trades at a trailing P/E ratio of 24.7x. Average trailing P/E is 14x in the Specialty Retail industry in Taiwan. Total returns to shareholders of 44% over the past year. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$1.82 (vs NT$1.33 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$455.5m (up 13% from 3Q 2020). Net income: NT$31.4m (up 39% from 3Q 2020). Profit margin: 6.9% (up from 5.6% in 3Q 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment improved over the past week After last week's 18% share price gain to NT$122, the stock trades at a trailing P/E ratio of 19.9x. Average trailing P/E is 14x in the Specialty Retail industry in Taiwan. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$1.64 (vs NT$1.66 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$421.5m (up 7.2% from 2Q 2020). Net income: NT$28.3m (up 5.7% from 2Q 2020). Profit margin: 6.7% (down from 6.8% in 2Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • May 17
First quarter 2021 earnings released: EPS NT$1.83 (vs NT$1.73 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$415.0m (up 6.6% from 1Q 2020). Net income: NT$31.6m (up 14% from 1Q 2020). Profit margin: 7.6% (up from 7.1% in 1Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Apr 25
Full year 2020 earnings released: EPS NT$6.10 (vs NT$5.37 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.58b (up 13% from FY 2019). Net income: NT$100.7m (up 19% from FY 2019). Profit margin: 6.4% (up from 6.1% in FY 2019). The increase in margin was driven by higher revenue. Is New 90 Day High Low • Feb 06
New 90-day low: NT$105 The company is down 1.0% from its price of NT$106 on 05 November 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Specialty Retail industry, which is down 5.0% over the same period.