New Risk • Jun 19
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 9.5% 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 Earnings have declined by 52% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (9.5% average weekly change). Reported Earnings • May 16
First quarter 2026 earnings released: NT$0.11 loss per share (vs NT$0.18 profit in 1Q 2025) First quarter 2026 results: NT$0.11 loss per share (down from NT$0.18 profit in 1Q 2025). Revenue: NT$486.2m (down 12% from 1Q 2025). Net loss: NT$17.1m (down 162% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Mar 14
Full year 2025 earnings released: NT$0.49 loss per share (vs NT$0.58 profit in FY 2024) Full year 2025 results: NT$0.49 loss per share (down from NT$0.58 profit in FY 2024). Revenue: NT$2.04b (up 7.6% from FY 2024). Net loss: NT$77.0m (down 185% from profit in FY 2024). 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. Reported Earnings • Nov 16
Third quarter 2025 earnings released: NT$0.03 loss per share (vs NT$0.20 profit in 3Q 2024) Third quarter 2025 results: NT$0.03 loss per share (down from NT$0.20 profit in 3Q 2024). Revenue: NT$512.7m (down 2.4% from 3Q 2024). Net loss: NT$4.65m (down 115% from profit in 3Q 2024). 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. New Risk • Sep 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Large one-off items impacting financial results. Reported Earnings • Aug 19
Second quarter 2025 earnings released: NT$0.37 loss per share (vs NT$0.18 profit in 2Q 2024) Second quarter 2025 results: NT$0.37 loss per share (down from NT$0.18 profit in 2Q 2024). Revenue: NT$526.7m (up 11% from 2Q 2024). Net loss: NT$58.4m (down 303% from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Jul 24
Upcoming dividend of NT$0.30 per share Eligible shareholders must have bought the stock before 31 July 2025. Payment date: 22 August 2025. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.1%). Reported Earnings • May 16
First quarter 2025 earnings released: EPS: NT$0.18 (vs NT$0.064 loss in 1Q 2024) First quarter 2025 results: EPS: NT$0.18 (up from NT$0.064 loss in 1Q 2024). Revenue: NT$550.8m (up 57% from 1Q 2024). Net income: NT$27.5m (up NT$37.4m from 1Q 2024). Profit margin: 5.0% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. New Risk • Apr 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.19b (US$96.8m) 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 Risk High level of non-cash earnings (25% accrual ratio). Minor Risk Market cap is less than US$100m (NT$3.19b market cap, or US$96.8m). Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$22.45, the stock trades at a trailing P/E ratio of 38.9x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total loss to shareholders of 39% over the past three years. Annuncio • Feb 15
Mosel Vitelic Inc. to Report Fiscal Year 2024 Results on Feb 20, 2025 Mosel Vitelic Inc. announced that they will report fiscal year 2024 results on Feb 20, 2025 Reported Earnings • Nov 19
Third quarter 2024 earnings released: EPS: NT$0.20 (vs NT$0.045 loss in 3Q 2023) Third quarter 2024 results: EPS: NT$0.20 (up from NT$0.045 loss in 3Q 2023). Revenue: NT$525.4m (up 29% from 3Q 2023). Net income: NT$31.2m (up NT$38.2m from 3Q 2023). Profit margin: 5.9% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Annuncio • Oct 23
Mosel Vitelic Inc. to Report Q3, 2024 Results on Oct 30, 2024 Mosel Vitelic Inc. announced that they will report Q3, 2024 results on Oct 30, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.18 (vs NT$0.02 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.18 (up from NT$0.02 in 2Q 2023). Revenue: NT$475.6m (up 28% from 2Q 2023). Net income: NT$25.8m (up NT$22.6m from 2Q 2023). Profit margin: 5.4% (up from 0.9% in 2Q 2023). The increase in margin was driven by higher revenue. 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 • Jul 24
Mosel Vitelic Inc. to Report Q2, 2024 Results on Jul 31, 2024 Mosel Vitelic Inc. announced that they will report Q2, 2024 results on Jul 31, 2024 Annuncio • May 25
Mosel Vitelic Inc. Announces Executive Changes The Mosel Vitelic Inc. elected two additional directors at 2024 Annual General Shareholders' meeting. Title and name of the new position holder: Representative of Sino-American Silicon Products Inc.:Cheng-Chien Chen; Representative of Hongyu Franklin Investment Co. Ltd.:Yu-Pai Tang. Resume of the new position holder: Representative of Sino-American Silicon Products Inc.:Cheng-chien ChenPresident of Sino-American Silicon Products Inc., Representative of Hongyu Franklin Investment Co. Ltd.:Yu-Pai Tang, Consultant of Mosel Vitelic Inc. Effective date of the new appointment: May 23, 2024. Reported Earnings • May 19
First quarter 2024 earnings released: NT$0.06 loss per share (vs NT$0.30 loss in 1Q 2023) First quarter 2024 results: NT$0.06 loss per share (improved from NT$0.30 loss in 1Q 2023). Revenue: NT$351.6m (down 10% from 1Q 2023). Net loss: NT$9.96m (loss narrowed 79% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Annuncio • Apr 26
Mosel Vitelic Inc. to Report Q1, 2024 Results on Apr 29, 2024 Mosel Vitelic Inc. announced that they will report Q1, 2024 results on Apr 29, 2024 Reported Earnings • Mar 20
Full year 2023 earnings released: NT$1.12 loss per share (vs NT$3.53 profit in FY 2022) Full year 2023 results: NT$1.12 loss per share (down from NT$3.53 profit in FY 2022). Revenue: NT$1.48b (down 31% from FY 2022). Net loss: NT$175.4m (down 132% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Annuncio • Feb 07
Mosel Vitelic Inc., Annual General Meeting, May 23, 2024 Mosel Vitelic Inc., Annual General Meeting, May 23, 2024. Location: Mosel Vitelic Inc. (No.1, Creation Rd. 1, Hsinchu Science Park) Hsinchu City Taiwan Agenda: To consider 2023 Business Report; to consider 2023 Audit Committee's review report; 2023 Business Report and Financial Statements; to consider 2023 Deficit Compensation; to consider Election matters; to approve the election of two additional directors; and to consider other matters. Annuncio • Nov 04
Mosel Vitelic Inc. Announces Dividend Distribution for the First Half Ended June 30, 2023 Mosel Vitelic Inc. announced amount of cash distributed to shareholders is TWD 0.00 per share for the first half ended June 30, 2023. New Risk • Aug 20
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: 11% Last year net profit margin: 22% 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: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 153% Cash payout ratio: 222% High level of non-cash earnings (34% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (11% net profit margin). Reported Earnings • Aug 19
Second quarter 2023 earnings released: EPS: NT$0.02 (vs NT$1.08 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.02 (down from NT$1.08 in 2Q 2022). Revenue: NT$371.5m (down 35% from 2Q 2022). Net income: NT$3.17m (down 98% from 2Q 2022). Profit margin: 0.9% (down from 29% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 27
Upcoming dividend of NT$1.00 per share at 4.9% yield Eligible shareholders must have bought the stock before 03 August 2023. Payment date: 25 August 2023. Payout ratio is on the higher end at 84%, however this is supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.2%). Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$44.75, the stock trades at a trailing P/E ratio of 12x. Average forward P/E is 18x in the Semiconductor industry in Taiwan. Total returns to shareholders of 125% over the past three years. Upcoming Dividend • Jan 26
Upcoming dividend of NT$1.00 per share at 5.2% yield Eligible shareholders must have bought the stock before 02 February 2023. Payment date: 24 February 2023. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 5.2%. Lower than top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (3.6%). Annuncio • Nov 29
Mosel Vitelic Inc. Announces the Dismissal of Institutional Director Mosel Vitelic Inc. announce the dismissal of institutional director. Elected or changed position: institutional director. Title and name of the previous position holder: PYNMAX Technology CO., LTD.(Representative person: Arthur Chang). Circumstances of change: dismissal. According to Article 197 of Taiwan Company Law,when a director transfers more than one-half of his shares at the time of his appointment during his tenure, he will be discharged. Reason for the change: According to Article 197 of Taiwan Company Law,when a director transfers more than one-half of his shares at the time of his appointment during his tenure, he will be discharged. Date of occurrence of the change: November 28, 2022. 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. 5 non-independent directors. Independent Director Meng Chang Lin 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 • Nov 13
Third quarter 2022 earnings released: EPS: NT$1.27 (vs NT$0.61 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.27 (up from NT$0.61 in 3Q 2021). Revenue: NT$552.9m (up 3.8% from 3Q 2021). Net income: NT$198.8m (up 109% from 3Q 2021). Profit margin: 36% (up from 18% in 3Q 2021). The increase in margin was primarily driven by lower expenses. Revenue is forecast to stay flat during the next 2 years compared to a 9.8% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Annuncio • Oct 29
Mosel Vitelic Inc. Announces Common Stock Cash Dividend Distribution, Payable on February 24, 2023 Mosel Vitelic Inc. at its shareholders meeting held on October 28, 2022 announced the common stock cash dividend distribution TWD 156,156,744 (TWD 1.0 per share). Ex-rights (ex-dividend) trading date: February 02, 2023. Book closure ending date: February 05, 2022. Ex-rights (ex-dividend) record date: February 10, 2023. Payment date of cash dividend distribution on February 24, 2023. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$30.10, the stock trades at a trailing P/E ratio of 9.8x. Average forward P/E is 10x in the Semiconductor industry in Taiwan. Total returns to shareholders of 57% over the past three years. Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: NT$1.08 (vs NT$0.15 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.08 (up from NT$0.15 in 2Q 2021). Revenue: NT$575.0m (up 20% from 2Q 2021). Net income: NT$168.3m (up NT$144.6m from 2Q 2021). Profit margin: 29% (up from 5.0% in 2Q 2021). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 28
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 04 August 2022. Payment date: 26 August 2022. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (3.6%). Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment deteriorated over the past week After last week's 20% share price decline to NT$33.70, the stock trades at a trailing P/E ratio of 15.7x. Average forward P/E is 9x in the Semiconductor industry in Taiwan. Total returns to shareholders of 70% over the past three years. Reported Earnings • May 13
First quarter 2022 earnings released: EPS: NT$0.85 (vs NT$0.28 in 1Q 2021) First quarter 2022 results: EPS: NT$0.85 (up from NT$0.28 in 1Q 2021). Revenue: NT$524.9m (up 28% from 1Q 2021). Net income: NT$133.1m (up 206% from 1Q 2021). Profit margin: 25% (up from 11% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. 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 Meng Chang Lin 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 16
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$1.58 (up from NT$1.42 in FY 2020). Revenue: NT$1.95b (up 5.8% from FY 2020). Net income: NT$245.2m (up 11% from FY 2020). Profit margin: 13% (in line with FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 5.9%, compared to a 24% growth forecast for the industry in Taiwan. 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 24% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.61 (vs NT$2.00 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$532.5m (up 8.8% from 3Q 2020). Net income: NT$95.0m (down 69% from 3Q 2020). Profit margin: 18% (down from 64% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 28% per year whereas the company’s share price has increased by 26% per year. Upcoming Dividend • Sep 24
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 01 October 2021. Payment date: 27 October 2021. Trailing yield: 1.0%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.2%). Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improved over the past week After last week's 16% share price gain to NT$48.35, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 20x in the Semiconductor industry in Taiwan. Total returns to shareholders of 50% over the past three years. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$0.15 (vs NT$0.91 loss in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: NT$478.3m (down 7.6% from 2Q 2020). Net income: NT$23.7m (up NT$165.1m from 2Q 2020). Profit margin: 5.0% (up from net loss in 2Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 9% per year. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improved over the past week After last week's 24% share price gain to NT$43.85, the stock trades at a trailing P/E ratio of 18.4x. Average trailing P/E is 24x in the Semiconductor industry in Taiwan. Total returns to shareholders of 8.2% over the past three years. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.28 (vs NT$0.69 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$411.1m (up 3.6% from 1Q 2020). Net income: NT$43.5m (up NT$150.0m from 1Q 2020). Profit margin: 11% (up from net loss in 1Q 2020). The move to profitability was primarily driven by lower expenses. 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 6% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • May 12
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$28.90, the stock trades at a trailing P/E ratio of 20.4x. Average trailing P/E is 23x in the Semiconductor industry in Taiwan. Total loss to shareholders of 13% over the past three years. Reported Earnings • Apr 01
Full year 2020 earnings released: EPS NT$1.42 (vs NT$2.56 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.85b (up 36% from FY 2019). Net income: NT$220.1m (up NT$616.8m from FY 2019). Profit margin: 12% (up from net loss in FY 2019). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Annuncio • Mar 10
Mosel Vitelic Inc., Annual General Meeting, Jun 11, 2021 Mosel Vitelic Inc., Annual General Meeting, Jun 11, 2021. Location: Mosel Vitelic Inc. (No.1, Creation Rd. 1, Hsinchu Science Park) Hsinchu City Taiwan Agenda: To consider the business report of the company for the 2020 fiscal year; to consider the audit report by the audit committee for the 2020 fiscal year; to consider the status of private placement; to consider the status of the implementation of healthy business plans; to consider the company's 2020 business report and financial statements; to consider the company's 2020 profit and loss appropriation; to consider the amend the company's articles of incorporation; and to consider the other matters. Is New 90 Day High Low • Dec 28
New 90-day high: NT$40.60 The company is up 45% from its price of NT$27.95 on 29 September 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 22% over the same period. Is New 90 Day High Low • Dec 04
New 90-day high: NT$36.20 The company is up 24% from its price of NT$29.15 on 04 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 19% over the same period. Is New 90 Day High Low • Nov 16
New 90-day high: NT$30.30 The company is up 4.0% from its price of NT$29.00 on 18 August 2020. The Taiwanese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 5.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$2.00 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$489.5m (up 47% from 3Q 2019). Net income: NT$310.7m (up NT$482.1m from 3Q 2019). Profit margin: 64% (up from net loss in 3Q 2019). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 80% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Oct 29
New 90-day low: NT$27.10 The company is down 15% from its price of NT$31.75 on 31 July 2020. The Taiwanese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 2.0% over the same period. Is New 90 Day High Low • Sep 25
New 90-day low: NT$27.60 The company is down 4.0% from its price of NT$28.65 on 24 June 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 23% over the same period. 