Reported Earnings • May 16
First quarter 2026 earnings: EPS misses analyst expectations First quarter 2026 results: EPS: NT$1.00. Revenue: NT$1.19b (up 12% from 1Q 2025). Net income: NT$229.7m (up 7.6% from 1Q 2025). Profit margin: 19% (in line with 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 50% p.a. on average during the next 2 years, compared to a 32% growth forecast for the Communications industry in Taiwan. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$405, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 14x in the Communications industry in Taiwan. Total returns to shareholders of 700% over the past three years. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to NT$428, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 16x in the Communications industry in Taiwan. Total returns to shareholders of 864% over the past three years. Annuncio • Mar 06
LuxNet Corporation, Annual General Meeting, May 27, 2026 LuxNet Corporation, Annual General Meeting, May 27, 2026. Location: 3 floor no,300, sec.1 chuang ching rd., taoyuan district, taoyuan city Taiwan New Risk • Mar 06
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 41% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). High level of non-cash earnings (41% accrual ratio). Reported Earnings • Mar 06
Full year 2025 earnings released: EPS: NT$5.43 (vs NT$3.79 in FY 2024) Full year 2025 results: EPS: NT$5.43 (up from NT$3.79 in FY 2024). Revenue: NT$4.38b (up 27% from FY 2024). Net income: NT$764.2m (up 43% from FY 2024). Profit margin: 17% (up from 16% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 99% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$335, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 20x in the Communications industry in Taiwan. Total returns to shareholders of 597% over the past three years. New Risk • Dec 23
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 8.6% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$292, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 16x in the Communications industry in Taiwan. Total returns to shareholders of 620% over the past three years. Buy Or Sell Opportunity • Dec 08
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 20% to NT$246. The fair value is estimated to be NT$204, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Earnings per share has grown by 35%. Revenue is forecast to grow by 55% in a year. Earnings are forecast to grow by 83% in the next year. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to NT$236, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 15x in the Communications industry in Taiwan. Total returns to shareholders of 375% over the past three years. Reported Earnings • Nov 08
Third quarter 2025 earnings released: EPS: NT$1.54 (vs NT$0.98 in 3Q 2024) Third quarter 2025 results: EPS: NT$1.54 (up from NT$0.98 in 3Q 2024). Revenue: NT$1.08b (up 14% from 3Q 2024). Net income: NT$217.7m (up 58% from 3Q 2024). Profit margin: 20% (up from 15% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 47% p.a. on average during the next 2 years, compared to a 26% growth forecast for the Communications industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 79% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$179, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 16x in the Communications industry in Taiwan. Total returns to shareholders of 471% over the past three years. Major Estimate Revision • Sep 16
Consensus revenue estimates fall by 23% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$5.88b to NT$4.55b. EPS estimate fell from NT$8.97 to NT$5.40 per share. Net income forecast to grow 80% next year vs 41% growth forecast for Communications industry in Taiwan. Consensus price target up from NT$225 to NT$250. Share price fell 2.9% to NT$199 over the past week. Reported Earnings • Aug 09
Second quarter 2025 earnings released: EPS: NT$0.67 (vs NT$0.99 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.67 (down from NT$0.99 in 2Q 2024). Revenue: NT$1.09b (up 36% from 2Q 2024). Net income: NT$94.6m (down 32% from 2Q 2024). Profit margin: 8.7% (down from 17% 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 48% per year but the company’s share price has increased by 73% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 17
Upcoming dividend of NT$1.54 per share Eligible shareholders must have bought the stock before 24 July 2025. Payment date: 20 August 2025. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.4%). Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$185, the stock trades at a trailing P/E ratio of 40.4x. Average forward P/E is 12x in the Communications industry in Taiwan. Total returns to shareholders of 869% over the past three years. Annuncio • May 01
LuxNet Corporation to Report Q1, 2025 Results on May 08, 2025 LuxNet Corporation announced that they will report Q1, 2025 results on May 08, 2025 Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$145, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the Communications industry in Taiwan. Total returns to shareholders of 693% over the past three years. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$169, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 16x in the Communications industry in Taiwan. Total returns to shareholders of 837% over the past three years. Buy Or Sell Opportunity • Mar 24
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 21% to NT$202. The fair value is estimated to be NT$159, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 51% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 70% in a year. Earnings are forecast to grow by 137% in the next year. Annuncio • Mar 14
LuxNet Corporation, Annual General Meeting, Jun 24, 2025 LuxNet Corporation, Annual General Meeting, Jun 24, 2025. Location: 3 floor no,398, min ch`uan rd., jhongli district, taoyuan city Taiwan Annuncio • Mar 06
LuxNet Corporation to Report Q4, 2024 Results on Mar 13, 2025 LuxNet Corporation announced that they will report Q4, 2024 results on Mar 13, 2025 Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$221, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 18x in the Communications industry in Taiwan. Total returns to shareholders of 1,227% over the past three years. Annuncio • Jan 17
Luxnet Corporation Announces Chairman Changes LuxNet Corporation announced the change of the chairman of the company. Name of the previous position holder:Chao Yang Su; Resume of the previous position holder: Chairman, LUXNET Zhenjia Investment Co. Ltd. Representative; Name of the new position holder:Huei Ming Chien; Resume of the new position holder: CSO, LUXNET Ming Shing Investment Co. Ltd. Representative.
Effective date of the new appointment: January 16, 2025. Annuncio • Jan 11
LuxNet Corporation Announces Change in Representative of Juristic-Person Director LuxNet Corporation announced change in representative of juristic-person director. The company appointed Huei Ming Chien, CSO, LUXNET in place of Ming Shi, President and Chairman Infostone Communication Consultant (Shenzhen) Co.Ltd. as Representative of Juristic-Person Director. Effective date of the new appointment is Jan. 10, 2025. Valuation Update With 7 Day Price Move • Dec 13
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$171, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 20x in the Communications industry in Taiwan. Total returns to shareholders of 856% over the past three years. Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$168, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 19x in the Communications industry in Taiwan. Total returns to shareholders of 852% over the past three years. Reported Earnings • Nov 18
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: EPS: NT$0.98 (down from NT$1.25 in 3Q 2023). Revenue: NT$945.6m (up 7.5% from 3Q 2023). Net income: NT$137.9m (down 16% from 3Q 2023). Profit margin: 15% (down from 19% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 6.5%. Earnings per share (EPS) missed analyst estimates by 19%. Revenue is forecast to grow 26% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Communications industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 95% per year and the company’s share price has also increased by 95% per year. Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$129, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 15x in the Communications industry in Taiwan. Total returns to shareholders of 661% over the past three years. Buy Or Sell Opportunity • Sep 09
Now 29% overvalued Over the last 90 days, the stock has fallen 20% to NT$114. The fair value is estimated to be NT$88.20, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 52% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 16% in a year. Earnings are forecast to grow by 21% in the next year. Upcoming Dividend • Aug 30
Upcoming dividend of NT$1.43 per share Eligible shareholders must have bought the stock before 06 September 2024. Payment date: 04 October 2024. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Taiwanese dividend payers (4.3%). Lower than average of industry peers (2.6%). Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$112, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 14x in the Communications industry in Taiwan. Total returns to shareholders of 525% over the past three years. New Risk • Aug 12
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 9.4% 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 Risk Share price has been highly volatile over the past 3 months (9.4% average weekly change). Minor Risk Shareholders have been diluted in the past year (6.4% increase in shares outstanding). Reported Earnings • Aug 12
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: EPS: NT$0.99 (up from NT$0.62 in 2Q 2023). Revenue: NT$801.3m (up 39% from 2Q 2023). Net income: NT$139.4m (up 70% from 2Q 2023). Profit margin: 17% (up from 14% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 1.0%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Communications industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 71% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Aug 07
Now 24% overvalued Over the last 90 days, the stock has fallen 28% to NT$89.70. The fair value is estimated to be NT$72.21, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 47% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 14% in a year. Earnings are forecast to grow by 26% in the next year. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to NT$81.60, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 15x in the Communications industry in Taiwan. Total returns to shareholders of 339% over the past three years. Annuncio • Aug 01
LuxNet Corporation to Report Q2, 2024 Results on Aug 08, 2024 LuxNet Corporation announced that they will report Q2, 2024 results on Aug 08, 2024 Valuation Update With 7 Day Price Move • May 23
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$144, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 19x in the Communications industry in Taiwan. Total returns to shareholders of 651% over the past three years. New Risk • May 22
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 8.6% 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 Risk Share price has been highly volatile over the past 3 months (8.6% average weekly change). Minor Risk Shareholders have been diluted in the past year (6.4% increase in shares outstanding). Reported Earnings • May 18
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: NT$0.74 (up from NT$0.30 in 1Q 2023). Revenue: NT$656.0m (up 35% from 1Q 2023). Net income: NT$104.1m (up 159% from 1Q 2023). Profit margin: 16% (up from 8.2% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.3%. Earnings per share (EPS) also surpassed analyst estimates by 2.8%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Communications industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 88% per year, which means it is significantly lagging earnings growth. Annuncio • Apr 28
LuxNet Corporation to Report Q1, 2024 Results on May 03, 2024 LuxNet Corporation announced that they will report Q1, 2024 results on May 03, 2024 New Risk • Apr 17
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 8.4% 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 Risk Share price has been highly volatile over the past 3 months (8.4% average weekly change). Minor Risk Shareholders have been diluted in the past year (6.4% increase in shares outstanding). Reported Earnings • Mar 28
Full year 2023 earnings released: EPS: NT$3.34 (vs NT$2.05 in FY 2022) Full year 2023 results: EPS: NT$3.34 (up from NT$2.05 in FY 2022). Revenue: NT$2.96b (up 124% from FY 2022). Net income: NT$442.4m (up 63% from FY 2022). Profit margin: 15% (down from 21% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Communications industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 68% per year, which means it is significantly lagging earnings growth. Annuncio • Mar 09
LuxNet Corporation, Annual General Meeting, Jun 14, 2024 LuxNet Corporation, Annual General Meeting, Jun 14, 2024. Location: No. 166, Wenhua Rd., Zhongli Dist.,(Hai Feng Seafood Restaurant Hiyue Hale) Taoyuan City Taiwan Agenda: To consider the 2023 Business Report; to report on distribution of 2023 Earnings of cash dividend; to report the status of conducting private placements of common stock; to consider the Adoption of 2023 Business Report and Financial Statements; to consider the Adoption of the Proposal for Distribution of 2023 Profits; and to discuss other matters. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$146, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 17x in the Communications industry in Taiwan. Total returns to shareholders of 447% over the past three years. Reported Earnings • Nov 14
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: NT$1.25 (up from NT$0.74 in 3Q 2022). Revenue: NT$879.9m (up 157% from 3Q 2022). Net income: NT$164.9m (up 68% from 3Q 2022). Profit margin: 19% (down from 29% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 3.8%. Revenue is forecast to grow 79% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Communications industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 84% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$178, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 17x in the Communications industry in Taiwan. Total returns to shareholders of 580% over the past three years. Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to NT$128, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 19x in the Communications industry in Taiwan. Total returns to shareholders of 353% over the past three years. Major Estimate Revision • Sep 08
Consensus revenue estimates increase by 18% The consensus outlook for revenues in fiscal year 2023 has improved. 2023 revenue forecast increased from NT$2.54b to NT$3.00b. EPS estimate increased from NT$1.98 to NT$3.51 per share. Net income forecast to grow 230% next year vs 11% growth forecast for Communications industry in Taiwan. Consensus price target up from NT$130 to NT$210. Share price rose 5.3% to NT$168 over the past week. Reported Earnings • Aug 05
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: NT$0.62 (down from NT$0.63 in 2Q 2022). Revenue: NT$577.9m (up 95% from 2Q 2022). Net income: NT$82.1m (down 1.6% from 2Q 2022). Profit margin: 14% (down from 28% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 9.2%. Earnings per share (EPS) also surpassed analyst estimates by 82%. Revenue is forecast to grow 61% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 70% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment deteriorates as stock falls 30% After last week's 30% share price decline to NT$140, the stock trades at a forward P/E ratio of 45x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 395% over the past three years. Buying Opportunity • Jul 18
Now 22% undervalued Over the last 90 days, the stock is up 153%. The fair value is estimated to be NT$194, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.8% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 90% in a year. Earnings is forecast to grow by 46% in the next year. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$168, the stock trades at a forward P/E ratio of 54x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 429% over the past three years. Upcoming Dividend • Jul 06
Upcoming dividend of NT$0.059 per share Eligible shareholders must have bought the stock before 13 July 2023. Payment date: 09 August 2023. The company last paid an ordinary dividend in March 2013. The average dividend yield among industry peers is 4.2%. Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to NT$115, the stock trades at a forward P/E ratio of 58x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 224% over the past three years. Major Estimate Revision • Jun 22
Consensus EPS estimates fall by 34% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$2.67b to NT$2.54b. EPS estimate also fell from NT$2.98 per share to NT$1.98 per share. Net income forecast to grow 7.5% next year vs 6.6% decline forecast for Electronic industry in Taiwan. Consensus price target up from NT$45.00 to NT$130. Share price rose 8.7% to NT$92.20 over the past week. Annuncio • Jun 21
I-Chiun Precision Industry Co., Ltd. (TWSE:2486) acquired an additional 4.9% stake in LuxNet Corporation (TPEX:4979) for apprximately TWD 320 million. I-Chiun Precision Industry Co., Ltd. (TWSE:2486) acquired an additional 4.9% stake in LuxNet Corporation (TPEX:4979) for apprximately TWD 320 million on June 19, 2023. Under the transaction, I-Chiun Precision Industry Co. acquired 6,481,000 shares in LuxNet Corporation at a unit price of NTD 49.28 per share. I-Chiun Precision Industry Co., Ltd. (TWSE:2486) completed the acquisition of an additional 4.9% stake in LuxNet Corporation (TPEX:4979) on June 19, 2023. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$84.30, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 281% over the past three years. Valuation Update With 7 Day Price Move • May 30
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$56.50, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 142% over the past three years. Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$43.35, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 14x in the Electronic industry in Taiwan. Total returns to shareholders of 107% over the past three years. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$60.70, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 302% over the past three years. Reported Earnings • Mar 29
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: NT$2.05 (up from NT$2.22 loss in FY 2021). Revenue: NT$1.32b (up 52% from FY 2021). Net income: NT$270.8m (up NT$555.8m from FY 2021). Profit margin: 21% (up from net loss in FY 2021). The move to profitability was primarily driven by higher revenue. Revenue exceeded analyst estimates by 5.7%. Earnings per share (EPS) missed analyst estimates by 12%. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has increased by 61% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment deteriorated over the past week After last week's 20% share price decline to NT$43.10, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 10x in the Electronic industry in Taiwan. Total returns to shareholders of 83% over the past three years. Major Estimate Revision • Dec 07
Consensus EPS estimates increase by 15% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from NT$1.20b to NT$1.25b. EPS estimate increased from NT$2.03 to NT$2.33 per share. Net income forecast to grow 475% next year vs 5.2% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$42.00 to NT$60.00. Share price rose 3.6% to NT$48.35 over the past week. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improved over the past week After last week's 18% share price gain to NT$42.45, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 10x in the Electronic industry in Taiwan. Total returns to shareholders of 77% over the past three years. 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 not an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 7 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Th Hsu was the last independent director to join the board, commencing their role in 2003. 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 06
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: NT$0.74 (up from NT$0.53 loss in 3Q 2021). Revenue: NT$342.4m (up 70% from 3Q 2021). Net income: NT$98.2m (up NT$168.6m from 3Q 2021). Profit margin: 29% (up from net loss in 3Q 2021). Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 37%. Revenue is forecast to grow 27% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 06
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: NT$0.63 (up from NT$0.33 loss in 2Q 2021). Revenue: NT$296.2m (up 11% from 2Q 2021). Net income: NT$83.4m (up NT$126.5m from 2Q 2021). Profit margin: 28% (up from net loss in 2Q 2021). Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 385%. Over the next year, revenue is forecast to grow 32%, compared to a 8.6% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 07
First quarter 2022 earnings: EPS exceeds analyst expectations First quarter 2022 results: NT$0.01 loss per share (up from NT$0.62 loss in 1Q 2021). Revenue: NT$202.8m (up 10% from 1Q 2021). Net loss: NT$1.79m (loss narrowed 98% from 1Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 83%. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target decreased to NT$22.00 Down from NT$32.00, the current price target is provided by 1 analyst. New target price is 18% above last closing price of NT$18.60. Stock is down 20% over the past year. The company is forecast to post earnings per share of NT$0.36 next year compared to a net loss per share of NT$2.22 last year. Board Change • Apr 27
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. 2 experienced directors. 7 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Th Hsu was the last independent director to join the board, commencing their role in 2003. 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 • Mar 19
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: NT$2.22 loss per share (down from NT$0.75 loss in FY 2020). Revenue: NT$866.0m (down 26% from FY 2020). Net loss: NT$285.0m (loss widened 223% from FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 36%. Over the next year, revenue is forecast to grow 15%, compared to a 8.6% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Breakeven Date Change • Mar 18
Forecast to breakeven in 2022 The analyst covering LuxNet expects the company to break even for the first time. New forecast suggests the company will make a profit of NT$48.0m in 2022. Average annual earnings growth of 145% is required to achieve expected profit on schedule. Reported Earnings • Nov 07
Third quarter 2021 earnings released: NT$0.53 loss per share (vs NT$0.22 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: NT$202.1m (down 34% from 3Q 2020). Net loss: NT$70.4m (loss widened 168% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 09
Second quarter 2021 earnings released: NT$0.33 loss per share (vs NT$0.68 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: NT$267.6m (down 23% from 2Q 2020). Net loss: NT$43.1m (down 154% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • May 09
First quarter 2021 earnings released: NT$0.62 loss per share (vs NT$0.57 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: NT$183.6m (down 28% from 1Q 2020). Net loss: NT$73.4m (loss widened 8.5% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 19
Full year 2020 earnings released: NT$0.75 loss per share (vs NT$2.02 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: NT$1.17b (down 2.0% from FY 2019). Net loss: NT$88.2m (loss narrowed 57% from FY 2019). Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 14
New 90-day low: NT$24.95 The company is down 2.0% from its price of NT$25.55 on 16 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 26% over the same period. Reported Earnings • Nov 07
Third quarter 2020 earnings released: NT$0.22 loss per share The company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: NT$303.7m (up 1.2% from 3Q 2019). Net loss: NT$26.3m (loss narrowed 63% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 16
New 90-day low: NT$25.55 The company is down 13% from its price of NT$29.25 on 17 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 4.0% over the same period.