Buy Or Sell Opportunity • May 07
Now 21% overvalued Over the last 90 days, the stock has fallen 15% to NT$25.00. The fair value is estimated to be NT$20.71, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years. Earnings per share has declined by 9.5%. New Risk • Mar 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: 3.5% Last year net profit margin: 6.0% 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: 96% Paying a dividend despite having no free cash flows. High level of non-cash earnings (34% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (3.5% net profit margin). Reported Earnings • Mar 20
Full year 2025 earnings released: EPS: NT$1.29 (vs NT$1.82 in FY 2024) Full year 2025 results: EPS: NT$1.29 (down from NT$1.82 in FY 2024). Revenue: NT$5.45b (up 22% from FY 2024). Net income: NT$190.1m (down 29% from FY 2024). Profit margin: 3.5% (down from 6.0% in FY 2024). The decrease in margin was driven by higher expenses. 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 1% per year, which means it is well ahead of earnings. Annuncio • Mar 12
Loyalty Founder Enterprise Co.,Ltd., Annual General Meeting, Jun 23, 2026 Loyalty Founder Enterprise Co.,Ltd., Annual General Meeting, Jun 23, 2026. Location: no,225 ln.54, sec.2 an huo rd., tainan city Taiwan Reported Earnings • Nov 15
Third quarter 2025 earnings released: EPS: NT$0.70 (vs NT$0.35 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.70 (up from NT$0.35 in 3Q 2024). Revenue: NT$1.30b (up 45% from 3Q 2024). Net income: NT$103.2m (up 97% from 3Q 2024). Profit margin: 8.0% (up from 5.8% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Reported Earnings • Aug 17
Second quarter 2025 earnings released: EPS: NT$0.04 (vs NT$0.57 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.04 (down from NT$0.57 in 2Q 2024). Revenue: NT$1.55b (up 48% from 2Q 2024). Net income: NT$5.77m (down 93% from 2Q 2024). Profit margin: 0.4% (down from 8.1% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 37% per year, which means it is well ahead of earnings. New Risk • Jul 23
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 6.3% 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 Dividend is not well covered by cash flows (131% cash payout ratio). Share price has been volatile over the past 3 months (6.3% average weekly change). Declared Dividend • Jun 27
Dividend increased to NT$1.80 Dividend of NT$1.80 is 20% higher than last year. Ex-date: 10th July 2025 Payment date: 15th August 2025 Dividend yield will be 4.4%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by earnings (87% earnings payout ratio) but not covered by cash flows (131% cash payout ratio). The dividend has increased by an average of 23% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$41.40, the stock trades at a trailing P/E ratio of 20.1x. Average trailing P/E is 19x in the Tech industry in Taiwan. Total returns to shareholders of 201% over the past three years. New Risk • May 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 8.8% 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 Dividend is not well covered by cash flows (131% cash payout ratio). Share price has been volatile over the past 3 months (8.8% average weekly change). Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$0.63 (vs NT$0.39 in 1Q 2024) First quarter 2025 results: EPS: NT$0.63 (up from NT$0.39 in 1Q 2024). Revenue: NT$1.57b (up 21% from 1Q 2024). Net income: NT$93.0m (up 60% from 1Q 2024). Profit margin: 5.9% (up from 4.5% in 1Q 2024). The increase in margin was driven by higher revenue. 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 34% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Apr 30
Loyalty Founder Enterprise Co.,Ltd. to Report Q1, 2025 Results on May 07, 2025 Loyalty Founder Enterprise Co.,Ltd. announced that they will report Q1, 2025 results on May 07, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$29.05, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 18x in the Tech industry in Taiwan. Total returns to shareholders of 113% over the past three years. Reported Earnings • Mar 21
Full year 2024 earnings released: EPS: NT$1.82 (vs NT$1.96 in FY 2023) Full year 2024 results: EPS: NT$1.82 (down from NT$1.96 in FY 2023). Revenue: NT$4.49b (down 18% from FY 2023). Net income: NT$269.0m (down 7.0% from FY 2023). Profit margin: 6.0% (up from 5.3% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Mar 12
Loyalty Founder Enterprise Co.,Ltd., Annual General Meeting, Jun 18, 2025 Loyalty Founder Enterprise Co.,Ltd., Annual General Meeting, Jun 18, 2025. Location: no,225 ln.54, sec.2 an huo rd., tainan city Taiwan Annuncio • Mar 04
Loyalty Founder Enterprise Co.,Ltd. to Report Fiscal Year 2024 Results on Mar 11, 2025 Loyalty Founder Enterprise Co.,Ltd. announced that they will report fiscal year 2024 results on Mar 11, 2025 New Risk • Jan 24
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 7.8% 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 (7.8% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • Nov 28
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 6.4% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.4% average weekly change). Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to NT$41.70, the stock trades at a trailing P/E ratio of 24.2x. Average trailing P/E is 21x in the Tech industry in Taiwan. Total returns to shareholders of 200% over the past three years. Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.36 (vs NT$0.42 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.36 (down from NT$0.42 in 3Q 2023). Revenue: NT$896.9m (down 33% from 3Q 2023). Net income: NT$52.4m (down 16% from 3Q 2023). Profit margin: 5.8% (up from 4.7% 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 9% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Nov 02
Loyalty Founder Enterprise Co.,Ltd. to Report Q3, 2024 Results on Nov 11, 2024 Loyalty Founder Enterprise Co.,Ltd. announced that they will report Q3, 2024 results on Nov 11, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.57 (vs NT$0.66 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.57 (down from NT$0.66 in 2Q 2023). Revenue: NT$1.05b (down 28% from 2Q 2023). Net income: NT$84.4m (down 13% from 2Q 2023). Profit margin: 8.1% (up from 6.7% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$26.85, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 20x in the Tech industry in Taiwan. Total returns to shareholders of 88% over the past three years. Annuncio • Jul 31
Loyalty Founder Enterprise Co.,Ltd. to Report Q2, 2024 Results on Aug 07, 2024 Loyalty Founder Enterprise Co.,Ltd. announced that they will report Q2, 2024 results on Aug 07, 2024 Upcoming Dividend • Jul 05
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 11 July 2024. Payment date: 16 August 2024. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.8%). Declared Dividend • Jun 21
Dividend of NT$1.50 announced Dividend of NT$1.50 is the same as last year. Ex-date: 11th July 2024 Payment date: 16th August 2024 Dividend yield will be 3.8%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (80% earnings payout ratio) and cash flows (60% cash payout ratio). The dividend has increased by an average of 24% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 21% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Annuncio • Jun 19
Loyalty Founder Enterprise Co.,Ltd. Approves Cash Dividend, Payable on August 16, 2024 Loyalty Founder Enterprise Co.,Ltd. at its AGM held on June 18, 2024, approved cash dividends of TWD 221,523,944. Ex-rights (Ex-dividend) date: July 11, 2024. Ex-rights (Ex-dividend) record date: July 17, 2024. Payment date of cash dividend distribution: August 16, 2024. Reported Earnings • May 18
First quarter 2024 earnings released: EPS: NT$0.39 (vs NT$0.47 in 1Q 2023) First quarter 2024 results: EPS: NT$0.39 (down from NT$0.47 in 1Q 2023). Revenue: NT$1.30b (up 2.7% from 1Q 2023). Net income: NT$58.0m (down 17% from 1Q 2023). Profit margin: 4.5% (down from 5.5% in 1Q 2023). The decrease in margin was driven by higher expenses. 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 32% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • May 03
Loyalty Founder Enterprise Co.,Ltd. to Report Q1, 2024 Results on May 09, 2024 Loyalty Founder Enterprise Co.,Ltd. announced that they will report Q1, 2024 results on May 09, 2024 Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: NT$1.96 (vs NT$2.03 in FY 2022) Full year 2023 results: EPS: NT$1.96 (down from NT$2.03 in FY 2022). Revenue: NT$5.44b (up 27% from FY 2022). Net income: NT$289.4m (down 3.2% from FY 2022). Profit margin: 5.3% (down from 7.0% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 28% per year. Annuncio • Mar 14
Loyalty Founder Enterprise Co.,Ltd., Annual General Meeting, Jun 18, 2024 Loyalty Founder Enterprise Co.,Ltd., Annual General Meeting, Jun 18, 2024. Location: No. 225, Ln. 54, Sec. 2, Anhe Rd., Annan Dist., Tainan City 709032, Taiwan Tainan City Taiwan Agenda: To discuss 2023 business report; to discuss Audit Committee's review of the 2023 annual final accounting ledgers and statements; to discuss Report on 2023 employees' and directors' remuneration ; to discuss Report on 2023 directors' compensation; to discuss Report on 2023 endorsement and monetary loans; to discuss Report on the revisions to the Integrity Operating Procedures and Code of Conduct; and to discuss other matters. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$51.90, the stock trades at a trailing P/E ratio of 27.2x. Average trailing P/E is 23x in the Tech industry in Taiwan. Total returns to shareholders of 211% over the past three years. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: NT$0.42 (vs NT$0.68 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.42 (down from NT$0.68 in 3Q 2022). Revenue: NT$1.34b (up 22% from 3Q 2022). Net income: NT$62.5m (down 38% from 3Q 2022). Profit margin: 4.7% (down from 9.2% 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 21% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Nov 01
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 7.5% 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 (7.5% average weekly change). Minor Risk Dividend is not well covered by cash flows (138% cash payout ratio). Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$50.70, the stock trades at a trailing P/E ratio of 23.4x. Average trailing P/E is 20x in the Tech industry in Taiwan. Total returns to shareholders of 209% over the past three years. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$0.66 (vs NT$0.57 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.66 (up from NT$0.57 in 2Q 2022). Revenue: NT$1.45b (up 26% from 2Q 2022). Net income: NT$97.3m (up 15% from 2Q 2022). Profit margin: 6.7% (down from 7.4% in 2Q 2022). 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 but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 30
Upcoming dividend of NT$1.50 per share at 2.7% yield Eligible shareholders must have bought the stock before 07 July 2023. Payment date: 11 August 2023. Payout ratio is a comfortable 72% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.0%). Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$56.50, the stock trades at a trailing P/E ratio of 27.2x. Average trailing P/E is 19x in the Tech industry in Taiwan. Total returns to shareholders of 300% over the past three years. Annuncio • Jun 14
Loyalty Founder Enterprise Co.,Ltd. Approves Cash Dividend for 2022, Payable on August 11, 2023 Loyalty Founder Enterprise Co.,Ltd. at the Annual Shareholders' Meeting held on June 13, 2023, approved the Distribution of the earnings of 2022: Cash dividends of TWD 1.5 (TWD 221,523,944). per share will be distributed for ordinary shares. Ex-rights (Ex-dividend) date is July 7, 2023. Ex-rights (Ex-dividend) record date is July 15, 2023. Payment date of cash dividend distribution is August 11, 2023. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$44.95, the stock trades at a trailing P/E ratio of 21.6x. Average trailing P/E is 18x in the Tech industry in Taiwan. Total returns to shareholders of 230% over the past three years. Valuation Update With 7 Day Price Move • May 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$42.00, the stock trades at a trailing P/E ratio of 20.7x. Average trailing P/E is 14x in the Tech industry in Taiwan. Total returns to shareholders of 291% over the past three years. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$32.25, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 14x in the Tech industry in Taiwan. Total returns to shareholders of 201% over the past three years. Reported Earnings • Apr 01
Full year 2022 earnings released: EPS: NT$2.02 (vs NT$1.27 in FY 2021) Full year 2022 results: EPS: NT$2.02 (up from NT$1.27 in FY 2021). Revenue: NT$4.28b (down 22% from FY 2021). Net income: NT$299.0m (up 47% from FY 2021). Profit margin: 7.0% (up from 3.7% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$26.05, the stock trades at a trailing P/E ratio of 13.3x. Average trailing P/E is 13x in the Tech industry in Taiwan. Total returns to shareholders of 226% over the past three years. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.68 (vs NT$0.51 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.68 (up from NT$0.51 in 3Q 2021). Revenue: NT$1.09b (down 13% from 3Q 2021). Net income: NT$100.6m (up 34% from 3Q 2021). Profit margin: 9.2% (up from 6.0% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.68 (vs NT$0.51 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.68 (up from NT$0.51 in 3Q 2021). Revenue: NT$1.09b (down 13% from 3Q 2021). Net income: NT$100.6m (up 34% from 3Q 2021). Profit margin: 9.2% (up from 6.0% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment improved over the past week After last week's 15% share price gain to NT$19.00, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 13x in the Tech industry in Taiwan. Total returns to shareholders of 55% over the past three years. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.57 (vs NT$0.32 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.57 (up from NT$0.32 in 2Q 2021). Revenue: NT$1.15b (down 21% from 2Q 2021). Net income: NT$84.7m (up 81% from 2Q 2021). Profit margin: 7.4% (up from 3.2% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 07
Upcoming dividend of NT$1.15 per share Eligible shareholders must have bought the stock before 14 July 2022. Payment date: 18 August 2022. Payout ratio is a comfortable 71% but the company is not cash flow positive. Trailing yield: 6.3%. Lower than top quartile of Taiwanese dividend payers (6.8%). Lower than average of industry peers (7.9%). Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.42 (vs NT$0.26 in 1Q 2021) First quarter 2022 results: EPS: NT$0.42 (up from NT$0.26 in 1Q 2021). Revenue: NT$1.08b (down 31% from 1Q 2021). Net income: NT$61.8m (up 61% from 1Q 2021). Profit margin: 5.7% (up from 2.5% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Annuncio • Apr 02
Loyalty Founder Enterprise Co.,Ltd., Annual General Meeting, Jun 21, 2022 Loyalty Founder Enterprise Co.,Ltd., Annual General Meeting, Jun 21, 2022. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: NT$1.27 (vs NT$1.27 in FY 2020) Full year 2021 results: EPS: NT$1.27. Revenue: NT$5.50b (down 10% from FY 2020). Net income: NT$203.1m (up 8.0% from FY 2020). Profit margin: 3.7% (up from 3.1% in FY 2020). The increase in margin was driven by lower expenses. Upcoming Dividend • Dec 02
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 09 December 2021. Payment date: 27 December 2021. Trailing yield: 14%. Within top quartile of Taiwanese dividend payers (5.1%). Higher than average of industry peers (4.9%). Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS NT$0.46 (vs NT$0.30 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: NT$1.25b (down 33% from 3Q 2020). Net income: NT$75.3m (up 50% from 3Q 2020). Profit margin: 6.0% (up from 2.7% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$0.29 (vs NT$0.39 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.46b (down 1.7% from 2Q 2020). Net income: NT$46.8m (down 27% from 2Q 2020). Profit margin: 3.2% (down from 4.3% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 19
Upcoming dividend of NT$1.15 per share Eligible shareholders must have bought the stock before 26 July 2021. Payment date: 19 August 2021. Trailing yield: 6.5%. Within top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (4.9%). Reported Earnings • May 14
First quarter 2021 earnings released: EPS NT$0.23 (vs NT$0.36 in 1Q 2020) The company reported a mediocre first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: NT$1.56b (up 48% from 1Q 2020). Net income: NT$38.4m (down 35% from 1Q 2020). Profit margin: 2.5% (down from 5.6% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$1.15 (vs NT$0.92 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$6.12b (up 22% from FY 2019). Net income: NT$188.0m (up 25% from FY 2019). Profit margin: 3.1% (up from 3.0% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 04
New 90-day low: NT$17.50 The company is down 10.0% from its price of NT$19.35 on 06 November 2020. The Taiwanese market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 12% over the same period. Is New 90 Day High Low • Jan 15
New 90-day low: NT$18.00 The company is down 9.0% from its price of NT$19.75 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 Tech industry, which is up 14% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.30 The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2020 results: Revenue: NT$1.86b (up 39% from 3Q 2019). Net income: NT$50.0m (up 29% from 3Q 2019). Profit margin: 2.7% (down from 2.9% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.