New Risk • May 19
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 3.5% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (3.5% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 94% Cash payout ratio: 378% Minor Risk Profit margins are more than 30% lower than last year (6.9% net profit margin). Reported Earnings • May 19
First quarter 2026 earnings released: EPS: NT$0.34 (vs NT$2.36 in 1Q 2025) First quarter 2026 results: EPS: NT$0.34 (down from NT$2.36 in 1Q 2025). Revenue: NT$412.6m (down 71% from 1Q 2025). Net income: NT$25.4m (down 83% from 1Q 2025). Profit margin: 6.2% (down from 11% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 2% per year. Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$71.00, the stock trades at a trailing P/E ratio of 22x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 16% over the past three years. Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: NT$3.39 (vs NT$2.50 in FY 2024) Full year 2025 results: EPS: NT$3.39 (up from NT$2.50 in FY 2024). Revenue: NT$2.67b (up 85% from FY 2024). Net income: NT$241.6m (up 60% from FY 2024). Profit margin: 9.0% (down from 10% 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 11% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Annuncio • Mar 06
Chialin Precision Industrial Co., Ltd., Annual General Meeting, May 22, 2026 Chialin Precision Industrial Co., Ltd., Annual General Meeting, May 22, 2026. Location: no,110, sec.2 huo p`ing w. rd., dayuan dist., taoyuan city Taiwan Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$78.60, the stock trades at a trailing P/E ratio of 25.1x. Average trailing P/E is 22x in the Electronic industry in Taiwan. Total returns to shareholders of 114% over the past three years. Reported Earnings • Nov 18
Third quarter 2025 earnings released: EPS: NT$0.54 (vs NT$0.89 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.54 (down from NT$0.89 in 3Q 2024). Revenue: NT$409.4m (up 9.8% from 3Q 2024). Net income: NT$39.8m (down 26% from 3Q 2024). Profit margin: 9.7% (down from 14% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 16% per year. New Risk • Sep 18
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 11x increase in shares outstanding. 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 (over 11x increase in shares outstanding). Minor Risks High level of debt (140% net debt to equity). Dividend is not well covered by cash flows (351% cash payout ratio). Reported Earnings • Aug 17
Second quarter 2025 earnings released: EPS: NT$0.19 (vs NT$0.55 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.19 (down from NT$0.55 in 2Q 2024). Revenue: NT$396.7m (up 16% from 2Q 2024). Net income: NT$14.0m (down 57% from 2Q 2024). Profit margin: 3.5% (down from 9.6% in 2Q 2024). 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. Upcoming Dividend • Jun 30
Upcoming dividend of NT$2.89 per share Eligible shareholders must have bought the stock before 07 July 2025. Payment date: 29 July 2025. Payout ratio is on the higher end at 75%, however this is supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (3.2%). Annuncio • Jun 20
Chialin Precision Industrial Co., Ltd. Announces Adjustment to the Payout Ratio of Cash Dividend On June 18, 2025, Chialin Precision Industrial Co., Ltd. announced type and monetary amount of original dividend distribution: Total cash dividends of TWD 135,655,897, TWD 2.11 per share. Cash distribution from capital surplus amounting to TWD 74,880,537, TWD 1.16 per share. Type and monetary amount of dividend distribution after the change: Total cash dividends of TWD 135,655,897, TWD 1.86029411 per share. Cash distribution from capital surplus amounting to TWD 74,880,537, TWD 1.02686153 per share. Reason for the change: In the event that the conversion of convertible bonds into common shares affects the number of outstanding shares and results in a change to the shareholders' dividend distribution rate, the Chairman is authorized to adjust the dividend distribution rate in accordance with the resolution passed at the shareholders' meeting on June 11, 2025. Declared Dividend • Jun 13
Dividend of NT$3.27 announced Shareholders will receive a dividend of NT$3.27. Ex-date: 7th July 2025 Payment date: 29th July 2025 Dividend yield will be 4.5%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is not covered by earnings (138% earnings payout ratio). However, it is well covered by cash flows (46% cash payout ratio). The dividend has increased by an average of 27% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 53% to bring the payout ratio under control. However, EPS has declined by 3.0% over the last 5 years so the company would need to reverse this trend. New Risk • May 31
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risk Dividend is not well covered by earnings (138% payout ratio). Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$2.36 (vs NT$0.59 in 1Q 2024) First quarter 2025 results: EPS: NT$2.36 (up from NT$0.59 in 1Q 2024). Revenue: NT$1.40b (up 332% from 1Q 2024). Net income: NT$151.6m (up 330% from 1Q 2024). Profit margin: 11% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Apr 30
Chialin Precision Industrial Co., Ltd. to Report Q1, 2025 Results on May 06, 2025 Chialin Precision Industrial Co., Ltd. announced that they will report Q1, 2025 results on May 06, 2025 Buy Or Sell Opportunity • Apr 29
Now 20% overvalued Over the last 90 days, the stock has fallen 11% to NT$81.30. The fair value is estimated to be NT$67.66, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 22%. 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$68.40, the stock trades at a trailing P/E ratio of 28.5x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 93% over the past three years. Reported Earnings • Mar 20
Full year 2024 earnings released: EPS: NT$2.50 (vs NT$3.81 in FY 2023) Full year 2024 results: EPS: NT$2.50 (down from NT$3.81 in FY 2023). Revenue: NT$1.44b (down 30% from FY 2023). Net income: NT$150.7m (down 33% from FY 2023). Profit margin: 10% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Mar 12
Chialin Precision Industrial Co., Ltd., Annual General Meeting, Jun 11, 2025 Chialin Precision Industrial Co., Ltd., Annual General Meeting, Jun 11, 2025. Location: no,110, sec.2 huo p`ing w. rd., dayuan dist., taoyuan city Taiwan Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.89 (vs NT$1.29 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.89 (down from NT$1.29 in 3Q 2023). Revenue: NT$372.9m (down 51% from 3Q 2023). Net income: NT$53.5m (down 30% from 3Q 2023). Profit margin: 14% (up from 10% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.54 (vs NT$0.95 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.54 (down from NT$0.95 in 2Q 2023). Revenue: NT$341.5m (down 5.5% from 2Q 2023). Net income: NT$32.7m (down 42% from 2Q 2023). Profit margin: 9.6% (down from 16% in 2Q 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 01
Upcoming dividend of NT$4.30 per share Eligible shareholders must have bought the stock before 08 July 2024. Payment date: 30 July 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.6%). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.59 (vs NT$0.53 in 1Q 2023) First quarter 2024 results: EPS: NT$0.59 (up from NT$0.53 in 1Q 2023). Revenue: NT$324.7m (down 8.3% from 1Q 2023). Net income: NT$35.2m (up 16% from 1Q 2023). Profit margin: 11% (up from 8.6% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 22
Full year 2023 earnings released: EPS: NT$3.81 (vs NT$2.52 in FY 2022) Full year 2023 results: EPS: NT$3.81 (up from NT$2.52 in FY 2022). Revenue: NT$2.07b (up 34% from FY 2022). Net income: NT$224.4m (up 68% from FY 2022). Profit margin: 11% (up from 8.6% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 46% per year whereas the company’s share price has increased by 43% per year. Annuncio • Mar 21
Chialin Precision Industrial Co., Ltd., Annual General Meeting, Jun 12, 2024 Chialin Precision Industrial Co., Ltd., Annual General Meeting, Jun 12, 2024. Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: NT$1.29 (vs NT$0.80 in 3Q 2022) Third quarter 2023 results: EPS: NT$1.29 (up from NT$0.80 in 3Q 2022). Revenue: NT$759.8m (up 109% from 3Q 2022). Net income: NT$76.7m (up 81% from 3Q 2022). Profit margin: 10% (down from 12% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 18
Second quarter 2023 earnings released: EPS: NT$0.95 (vs NT$0.59 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.95 (up from NT$0.59 in 2Q 2022). Revenue: NT$361.4m (down 4.6% from 2Q 2022). Net income: NT$56.4m (up 83% from 2Q 2022). Profit margin: 16% (up from 8.2% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 49% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 04
Upcoming dividend of NT$3.02 per share at 3.4% yield Eligible shareholders must have bought the stock before 11 July 2023. Payment date: 02 August 2023. Payout ratio is on the higher end at 95% but the company is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (4.2%). Reported Earnings • Apr 01
Full year 2022 earnings released: EPS: NT$2.52 (vs NT$1.33 in FY 2021) Full year 2022 results: EPS: NT$2.52 (up from NT$1.33 in FY 2021). Revenue: NT$1.55b (up 22% from FY 2021). Net income: NT$133.5m (up 100% from FY 2021). Profit margin: 8.6% (up from 5.3% in FY 2021). 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 increased by 33% per year, which means it is well ahead of earnings. Reported Earnings • Nov 20
Third quarter 2022 earnings released: EPS: NT$0.80 (vs NT$0.60 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.80 (up from NT$0.60 in 3Q 2021). Revenue: NT$363.2m (up 16% from 3Q 2021). Net income: NT$42.5m (up 41% from 3Q 2021). Profit margin: 12% (up from 9.6% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. No independent directors (5 non-independent directors). Director Long Fa Xie was the last director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Aug 16
Second quarter 2022 earnings released: EPS: NT$0.59 (vs NT$0.30 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.59 (up from NT$0.30 in 2Q 2021). Revenue: NT$378.7m (up 20% from 2Q 2021). Net income: NT$30.9m (up 103% from 2Q 2021). Profit margin: 8.2% (up from 4.8% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 05
Upcoming dividend of NT$2.17 per share Eligible shareholders must have bought the stock before 12 July 2022. Payment date: 05 August 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.7%. Lower than top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (5.0%). Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.82 (vs NT$0.37 in 1Q 2021) First quarter 2022 results: EPS: NT$0.82 (up from NT$0.37 in 1Q 2021). Revenue: NT$406.8m (up 31% from 1Q 2021). Net income: NT$42.1m (up 125% from 1Q 2021). Profit margin: 10% (up from 6.0% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 7% per year, which means it is performing significantly worse than earnings. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. No independent directors (5 non-independent directors). Director Long Fa Xie was the last director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Mar 31
Full year 2021 earnings released: EPS: NT$1.33 (vs NT$0.78 in FY 2020) Full year 2021 results: EPS: NT$1.33 (up from NT$0.78 in FY 2020). Revenue: NT$1.27b (up 16% from FY 2020). Net income: NT$66.6m (up 70% from FY 2020). Profit margin: 5.3% (up from 3.6% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improved over the past week After last week's 17% share price gain to NT$43.90, the stock trades at a trailing P/E ratio of 28.9x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 18% over the past three years. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improved over the past week After last week's 18% share price gain to NT$36.90, the stock trades at a trailing P/E ratio of 24.3x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total loss to shareholders of 1.0% over the past three years. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.60 (vs NT$0.05 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$312.9m (up 26% from 3Q 2020). Net income: NT$30.1m (up NT$27.6m from 3Q 2020). Profit margin: 9.6% (up from 1.0% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 27% 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. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$0.30 (vs NT$0.16 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$315.3m (up 33% from 2Q 2020). Net income: NT$15.2m (up 93% from 2Q 2020). Profit margin: 4.8% (up from 3.3% in 2Q 2020). The increase in margin was driven by higher revenue. 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 14% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jul 21
Inaugural dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 28 July 2021. Payment date: 20 August 2021. The company last paid an ordinary dividend in May 2020. The average dividend yield among industry peers is 3.0%. Reported Earnings • May 16
First quarter 2021 earnings released: EPS NT$0.37 (vs NT$0.33 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: NT$310.5m (down 1.1% from 1Q 2020). Net income: NT$18.7m (up 14% from 1Q 2020). Profit margin: 6.0% (up from 5.2% in 1Q 2020). The increase in margin was driven by lower expenses. 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 19% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$0.78 (vs NT$4.06 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.09b (down 38% from FY 2019). Net income: NT$39.2m (down 81% from FY 2019). Profit margin: 3.6% (down from 12% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 16% per year. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.05 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: NT$248.0m (up 5.4% from 3Q 2019). Net income: NT$2.53m (down 86% from 3Q 2019). Profit margin: 1.0% (down from 7.7% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.