Reported Earnings • May 16
First quarter 2026 earnings released: NT$0.21 loss per share (vs NT$0.80 loss in 1Q 2025) First quarter 2026 results: NT$0.21 loss per share (improved from NT$0.80 loss in 1Q 2025). Revenue: NT$210.9m (up 55% from 1Q 2025). Net loss: NT$10.3m (loss narrowed 74% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 61% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 13
Full year 2025 earnings released: NT$0.73 loss per share (vs NT$1.08 loss in FY 2024) Full year 2025 results: NT$0.73 loss per share (improved from NT$1.08 loss in FY 2024). Revenue: NT$746.5m (up 12% from FY 2024). Net loss: NT$36.1m (loss narrowed 32% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 46% per year, which means it is well ahead of earnings. Annuncio • Mar 06
Ofuna Technology Co., Ltd., Annual General Meeting, May 25, 2026 Ofuna Technology Co., Ltd., Annual General Meeting, May 25, 2026. Location: no,21, kung i rd., jih nan li, dajia district, taichung city Taiwan New Risk • Nov 16
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 17% 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 (17% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 51% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$1.90b market cap, or US$61.6m). Reported Earnings • Nov 12
Third quarter 2025 earnings released: NT$0.14 loss per share (vs NT$0.45 loss in 3Q 2024) Third quarter 2025 results: NT$0.14 loss per share (improved from NT$0.45 loss in 3Q 2024). Revenue: NT$189.7m (up 17% from 3Q 2024). Net loss: NT$6.65m (loss narrowed 70% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: NT$0.01 (vs NT$0.57 loss in 2Q 2024) Second quarter 2025 results: EPS: NT$0.01 (up from NT$0.57 loss in 2Q 2024). Revenue: NT$155.4m (up 24% from 2Q 2024). Net income: NT$659.0k (up NT$28.5m from 2Q 2024). Profit margin: 0.4% (up from net loss in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Reported Earnings • May 14
First quarter 2025 earnings released: NT$0.80 loss per share (vs NT$0.41 loss in 1Q 2024) First quarter 2025 results: NT$0.80 loss per share (further deteriorated from NT$0.41 loss in 1Q 2024). Revenue: NT$136.5m (up 35% from 1Q 2024). Net loss: NT$39.1m (loss widened 94% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. New Risk • Apr 25
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 10% 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 Debt is not well covered by operating cash flow (8.5% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 50% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$1.01b market cap, or US$31.1m). Reported Earnings • Mar 20
Full year 2024 earnings released: NT$1.08 loss per share (vs NT$4.52 loss in FY 2023) Full year 2024 results: NT$1.08 loss per share (improved from NT$4.52 loss in FY 2023). Revenue: NT$665.0m (down 12% from FY 2023). Net loss: NT$52.8m (loss narrowed 76% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Annuncio • Mar 07
Ofuna Technology Co., Ltd., Annual General Meeting, May 27, 2025 Ofuna Technology Co., Ltd., Annual General Meeting, May 27, 2025. Location: 3 floor no,36, you shih rd., dajia district, taichung city Taiwan Reported Earnings • Nov 19
Third quarter 2024 earnings released: NT$0.45 loss per share (vs NT$0.85 loss in 3Q 2023) Third quarter 2024 results: NT$0.45 loss per share (improved from NT$0.85 loss in 3Q 2023). Revenue: NT$162.7m (up 32% from 3Q 2023). Net loss: NT$22.0m (loss narrowed 47% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 17
Second quarter 2024 earnings released: NT$0.57 loss per share (vs NT$0.022 profit in 2Q 2023) Second quarter 2024 results: NT$0.57 loss per share (down from NT$0.022 profit in 2Q 2023). Revenue: NT$125.1m (down 47% from 2Q 2023). Net loss: NT$27.9m (down NT$29.0m from profit in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Aug 05
Now 26% undervalued Over the last 90 days, the stock has risen 1.3% to NT$20.00. The fair value is estimated to be NT$27.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • May 19
First quarter 2024 earnings released: NT$0.41 loss per share (vs NT$0.45 profit in 1Q 2023) First quarter 2024 results: NT$0.41 loss per share (down from NT$0.45 profit in 1Q 2023). Revenue: NT$101.0m (down 61% from 1Q 2023). Net loss: NT$20.2m (down 192% from profit in 1Q 2023). 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. Reported Earnings • Mar 21
Full year 2023 earnings released: NT$4.52 loss per share (vs NT$2.79 profit in FY 2022) Full year 2023 results: NT$4.52 loss per share (down from NT$2.79 profit in FY 2022). Revenue: NT$756.6m (down 52% from FY 2022). Net loss: NT$222.0m (down 272% from profit in FY 2022). 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 13% per year, which means it has not declined as severely as earnings. Annuncio • Mar 14
Ofuna Technology Co., Ltd., Annual General Meeting, May 29, 2024 Ofuna Technology Co., Ltd., Annual General Meeting, May 29, 2024. Reported Earnings • Nov 18
Third quarter 2023 earnings released: NT$0.85 loss per share (vs NT$0.50 profit in 3Q 2022) Third quarter 2023 results: NT$0.85 loss per share (down from NT$0.50 profit in 3Q 2022). Revenue: NT$123.4m (down 69% from 3Q 2022). Net loss: NT$41.6m (down 270% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 6% per year. New Risk • Aug 13
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 7.3% 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 (7.3% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 170% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.0% net profit margin). Market cap is less than US$100m (NT$1.38b market cap, or US$43.4m). Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: NT$0.02 (vs NT$1.17 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.02 (down from NT$1.17 in 2Q 2022). Revenue: NT$237.5m (down 48% from 2Q 2022). Net income: NT$1.09m (down 98% from 2Q 2022). Profit margin: 0.5% (down from 11% in 2Q 2022). Upcoming Dividend • Jun 20
Upcoming dividend of NT$1.63 per share at 5.2% yield Eligible shareholders must have bought the stock before 27 June 2023. Payment date: 20 July 2023. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 5.2%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.2%). Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: NT$2.79 (vs NT$2.12 in FY 2021) Full year 2022 results: EPS: NT$2.79 (up from NT$2.12 in FY 2021). Revenue: NT$1.56b (up 26% from FY 2021). Net income: NT$129.3m (up 42% from FY 2021). Profit margin: 8.3% (up from 7.3% in FY 2021). The increase in margin was driven by higher revenue. Reported Earnings • Nov 12
Third quarter 2022 earnings released: EPS: NT$0.50 (vs NT$0.30 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.50 (up from NT$0.30 in 3Q 2021). Revenue: NT$400.6m (up 49% from 3Q 2021). Net income: NT$24.4m (up 89% from 3Q 2021). Profit margin: 6.1% (up from 4.8% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 2 years compared to a 7.2% growth forecast for the Electronic industry in Taiwan. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improved over the past week After last week's 18% share price gain to NT$33.10, the stock trades at a trailing P/E ratio of 9.9x. Average forward P/E is 9x in the Electronic industry in Taiwan. Total returns to shareholders of 23% over the past year. Reported Earnings • Aug 15
Second quarter 2022 earnings released Second quarter 2022 results: EPS: NT$1.17. Net income: NT$51.8m (up NT$51.8m from 2Q 2021). Over the next year, revenue is forecast to grow 3.1%, compared to a 8.6% growth forecast for the Electronic industry in Taiwan. Upcoming Dividend • Jun 30
Upcoming dividend of NT$1.53 per share Eligible shareholders must have bought the stock before 07 July 2022. Payment date: 05 August 2022. Payout ratio is a comfortable 67% but the company is not cash flow positive. Trailing yield: 4.9%. Lower than top quartile of Taiwanese dividend payers (6.4%). In line with average of industry peers (4.6%). Upcoming Dividend • Jun 30
Upcoming dividend of NT$1.53 per share Eligible shareholders must have bought the stock before 07 July 2022. Payment date: 05 August 2022. Payout ratio is a comfortable 67% but the company is not cash flow positive. Trailing yield: 4.9%. Lower than top quartile of Taiwanese dividend payers (6.4%). In line with average of industry peers (4.6%). Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$32.90, the stock trades at a trailing P/E ratio of 12.7x. Average forward P/E is 10x in the Electronic industry in Taiwan. Total returns to shareholders of 16% over the past year. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$1.24 (vs NT$0.38 in 1Q 2021) First quarter 2022 results: EPS: NT$1.24 (up from NT$0.38 in 1Q 2021). Revenue: NT$411.0m (up 34% from 1Q 2021). Net income: NT$53.4m (up 228% from 1Q 2021). Profit margin: 13% (up from 5.3% in 1Q 2021). The increase in margin was driven by higher revenue. Reported Earnings • Mar 31
Full year 2021 earnings released: EPS: NT$2.12 (vs NT$2.09 in FY 2020) Full year 2021 results: EPS: NT$2.12 (up from NT$2.09 in FY 2020). Revenue: NT$1.25b (up 24% from FY 2020). Net income: NT$91.1m (up 2.0% from FY 2020). Profit margin: 7.3% (down from 8.9% in FY 2020). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment improved over the past week After last week's 18% share price gain to NT$39.90, the stock trades at a trailing P/E ratio of 18.7x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 78% over the past year. Reported Earnings • Dec 08
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: EPS: NT$0.30 (down from NT$0.65 in 3Q 2020). Revenue: NT$269.2m (flat on 3Q 2020). Net income: NT$12.9m (down 53% from 3Q 2020). Profit margin: 4.8% (down from 10% in 3Q 2020). Revenue was in line with analyst estimates. Reported Earnings • Aug 19
First half 2021 earnings released: EPS NT$0.76 (vs NT$0.80 in 1H 2020) The company reported a mediocre first half result with weaker earnings and profit margins, although revenues improved. First half 2021 results: Revenue: NT$615.2m (up 33% from 1H 2020). Net income: NT$32.5m (down 4.6% from 1H 2020). Profit margin: 5.3% (down from 7.4% in 1H 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Apr 29
Full year 2020 earnings released: EPS NT$2.09 (vs NT$1.18 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: NT$1.00b (down 15% from FY 2019). Net income: NT$89.3m (up 77% from FY 2019). Profit margin: 8.9% (up from 4.3% in FY 2019). The increase in margin was driven by lower expenses. Annuncio • Mar 18
Ofuna Technology Co., Ltd., Annual General Meeting, May 31, 2021 Ofuna Technology Co., Ltd., Annual General Meeting, May 31, 2021. Is New 90 Day High Low • Mar 12
New 90-day high: NT$30.00 The company is up 1.0% from its price of NT$29.85 on 11 December 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 16% over the same period. Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improved over the past week After last week's 17% share price gain to NT$28.00, the stock is trading at a trailing P/E ratio of 23.7x, up from the previous P/E ratio of 20.3x. This compares to an average P/E of 18x in the Machinery industry in Taiwan. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment deteriorated over the past week After last week's 23% share price decline to NT$23.00, the stock is trading at a trailing P/E ratio of 19.5x, down from the previous P/E ratio of 25.4x. This compares to an average P/E of 17x in the Machinery industry in Taiwan.