Reported Earnings • Mar 12
Full year 2025 earnings released: EPS: NT$0.45 (vs NT$2.16 in FY 2024) Full year 2025 results: EPS: NT$0.45 (down from NT$2.16 in FY 2024). Revenue: NT$4.90b (up 14% from FY 2024). Net income: NT$48.2m (down 77% from FY 2024). Profit margin: 1.0% (down from 4.9% 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 30% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Annuncio • Mar 05
Song Shang Electronics Co.,Ltd., Annual General Meeting, May 29, 2026 Song Shang Electronics Co.,Ltd., Annual General Meeting, May 29, 2026. Location: r floor building. a no,99, chung ch`eng rd., tucheng district, new taipei city Taiwan Reported Earnings • Nov 05
Third quarter 2025 earnings released: EPS: NT$0.03 (vs NT$0.14 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.03 (down from NT$0.14 in 3Q 2024). Revenue: NT$1.09b (down 7.2% from 3Q 2024). Net income: NT$3.77m (down 73% from 3Q 2024). Profit margin: 0.3% (down from 1.2% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Reported Earnings • Aug 14
Second quarter 2025 earnings released: NT$0.42 loss per share (vs NT$0.66 profit in 2Q 2024) Second quarter 2025 results: NT$0.42 loss per share (down from NT$0.66 profit in 2Q 2024). Revenue: NT$1.24b (up 24% from 2Q 2024). Net loss: NT$45.7m (down 172% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 07
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 14 August 2025. Payment date: 12 September 2025. Payout ratio is a comfortable 44% but the company is not cash flow positive. Trailing yield: 3.6%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.8%). Declared Dividend • Jul 21
Dividend increased to NT$1.00 Dividend of NT$1.00 is 25% higher than last year. Ex-date: 14th August 2025 Payment date: 12th September 2025 Dividend yield will be 3.5%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (44% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 15% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 09
First quarter 2025 earnings released: EPS: NT$0.55 (vs NT$0.44 in 1Q 2024) First quarter 2025 results: EPS: NT$0.55 (up from NT$0.44 in 1Q 2024). Revenue: NT$1.38b (up 85% from 1Q 2024). Net income: NT$59.7m (up 45% from 1Q 2024). Profit margin: 4.3% (down from 5.5% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • May 01
Song Shang Electronics Co.,Ltd. to Report Q1, 2025 Results on May 07, 2025 Song Shang Electronics 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$23.15, the stock trades at a trailing P/E ratio of 11.8x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 24% over the past three years. Annuncio • Feb 28
Song Shang Electronics Co.,Ltd. announced a financing transaction Song Shang Electronics Co.,Ltd. announced a private placement of 20,000,000 equity shares on February 26, 2025. The transaction has been approved by the shareholders of the company. he private placement is planned to be conducted in two phases within one year from the shareholders' meeting resolution, with each phase involving up to 10,000,000 shares. Annuncio • Feb 27
Song Shang Electronics Co.,Ltd., Annual General Meeting, May 26, 2025 Song Shang Electronics Co.,Ltd., Annual General Meeting, May 26, 2025. Location: r floor building. a no,99, chung ch`eng rd., tucheng district, new taipei city Taiwan Annuncio • Feb 19
Song Shang Electronics Co.,Ltd. to Report Q4, 2024 Results on Feb 26, 2025 Song Shang Electronics Co.,Ltd. announced that they will report Q4, 2024 results on Feb 26, 2025 New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 34% 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 Risks High level of non-cash earnings (21% accrual ratio). Shareholders have been substantially diluted in the past year (34% increase in shares outstanding). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (NT$2.64b market cap, or US$80.0m). New Risk • Dec 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (9.2% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (NT$2.50b market cap, or US$77.0m). Reported Earnings • Nov 07
Third quarter 2024 earnings released: EPS: NT$0.14 (vs NT$0.79 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.14 (down from NT$0.79 in 3Q 2023). Revenue: NT$1.18b (up 32% from 3Q 2023). Net income: NT$13.9m (down 78% from 3Q 2023). Profit margin: 1.2% (down from 6.9% in 3Q 2023). 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 20% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$32.25, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 108% over the past three years. Annuncio • Oct 29
Song Shang Electronics Co.,Ltd. to Report Q3, 2024 Results on Nov 05, 2024 Song Shang Electronics Co.,Ltd. announced that they will report Q3, 2024 results on Nov 05, 2024 Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$37.80, the stock trades at a trailing P/E ratio of 19.4x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 180% over the past three years. New Risk • Aug 30
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 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks 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 (7.6% average weekly change). Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (NT$3.11b market cap, or US$97.3m). Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$32.35, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 131% over the past three years. Buy Or Sell Opportunity • Aug 16
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to NT$26.80. The fair value is estimated to be NT$21.91, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Earnings per share has grown by 22%. Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: NT$0.66 (vs NT$0.67 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.66. Revenue: NT$1.00b (up 37% from 2Q 2023). Net income: NT$63.6m (up 21% from 2Q 2023). Profit margin: 6.4% (down from 7.2% in 2Q 2023). The decrease in margin was driven by higher expenses. Upcoming Dividend • Aug 07
Upcoming dividend of NT$0.80 per share Eligible shareholders must have bought the stock before 14 August 2024. Payment date: 10 September 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Taiwanese dividend payers (4.7%). Higher than average of industry peers (3.1%). Declared Dividend • Jul 19
Dividend of NT$0.80 announced Dividend of NT$0.80 is the same as last year. Ex-date: 14th August 2024 Payment date: 10th September 2024 Dividend yield will be 3.1%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 14% per year over the past 8 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 59% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.8% EPS decline seen over the last 5 years. Annuncio • Jul 18
Song Shang Electronics Co.,Ltd. Announces Dividend, Payable on September 10, 2024 Song Shang Electronics Co.,Ltd. announced Cash dividends for common shares amount to TWD 77,407,084, with a distribution of TWD 0.8 per share. Ex-rights (Ex-dividend) date is August 14, 2024. Ex-rights (Ex-dividend) record date is August 44, 2024. Payment date of cash dividend distribution is September 10, 2024. New Risk • May 21
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (NT$2.35b market cap, or US$72.7m). Annuncio • May 02
Song Shang Electronics Co.,Ltd. to Report Q1, 2024 Results on May 09, 2024 Song Shang Electronics Co.,Ltd. announced that they will report Q1, 2024 results at 2:30 PM, Taipei Standard Time on May 09, 2024 New Risk • Apr 05
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 24% This is considered a minor 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (NT$2.24b market cap, or US$69.8m). Annuncio • Feb 28
Song Shang Electronics Co.,Ltd., Annual General Meeting, Jun 13, 2024 Song Shang Electronics Co.,Ltd., Annual General Meeting, Jun 13, 2024. Location: RF., No.99, Zhongcheng Rd., Tucheng Dist., (Hi-MRT Science and Technology Park ) New Taipei City Taiwan Agenda: To consider and approve The Business Report of 2023; Audit Committee Review Report of 2023; The proposals to distribute compensation to employees and directors of 2023; Privately Offered Ordinary Shares of 2023; Report on The Issuance of 4th Unsecured Convertible Corporate Bonds by the Company in Taiwan; and to discuss other matters. Reported Earnings • Nov 04
Third quarter 2023 earnings released: EPS: NT$0.79 (vs NT$1.34 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.79 (down from NT$1.34 in 3Q 2022). Revenue: NT$889.5m (down 14% from 3Q 2022). Net income: NT$61.7m (down 42% from 3Q 2022). Profit margin: 6.9% (down from 10% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. New Risk • Oct 21
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 5.7% 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 (5.7% average weekly change). Market cap is less than US$100m (NT$1.90b market cap, or US$58.7m). Reported Earnings • Aug 05
Second quarter 2023 earnings released: EPS: NT$0.67 (vs NT$0.52 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.67 (up from NT$0.52 in 2Q 2022). Revenue: NT$729.9m (down 35% from 2Q 2022). Net income: NT$52.5m (up 25% from 2Q 2022). Profit margin: 7.2% (up from 3.8% in 2Q 2022). 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 only increased by 5% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 03
Upcoming dividend of NT$0.80 per share at 3.7% yield Eligible shareholders must have bought the stock before 10 August 2023. Payment date: 12 September 2023. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.2%). Reported Earnings • Mar 21
Full year 2022 earnings released: EPS: NT$2.52 (vs NT$1.29 in FY 2021) Full year 2022 results: EPS: NT$2.52 (up from NT$1.29 in FY 2021). Revenue: NT$4.19b (down 11% from FY 2021). Net income: NT$200.6m (up 93% from FY 2021). Profit margin: 4.8% (up from 2.2% 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 25% per year whereas the company’s share price has increased by 29% per year. Board Change • Nov 16
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 7 new directors. No experienced directors. 3 highly experienced directors. 3 independent directors (5 non-independent directors). Supervisor Yong Wen Zhang is the most experienced director on the board, commencing their role in 2013. Independent Director Chun Hung Tseng was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. 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$18.90, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 44% over the past three years. Reported Earnings • Nov 02
Third quarter 2022 earnings released: EPS: NT$1.34 (vs NT$0.45 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.34 (up from NT$0.45 in 3Q 2021). Revenue: NT$1.04b (down 19% from 3Q 2021). Net income: NT$106.4m (up 195% from 3Q 2021). Profit margin: 10% (up from 2.8% 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 16% per year whereas the company’s share price has increased by 12% per year. Upcoming Dividend • Oct 11
Upcoming dividend of NT$0.52 per share Eligible shareholders must have bought the stock before 18 October 2022. Payment date: 14 November 2022. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Taiwanese dividend payers (7.0%). Lower than average of industry peers (4.7%). Reported Earnings • Jul 28
Second quarter 2022 earnings released: EPS: NT$0.52 (vs NT$0.20 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.52 (up from NT$0.20 in 2Q 2021). Revenue: NT$1.12b (flat on 2Q 2021). Net income: NT$42.1m (up 164% from 2Q 2021). Profit margin: 3.8% (up from 1.4% in 2Q 2021). 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 8% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.20 (vs NT$0.23 in 1Q 2021) First quarter 2022 results: EPS: NT$0.20 (down from NT$0.23 in 1Q 2021). Revenue: NT$996.1m (flat on 1Q 2021). Net income: NT$16.5m (down 9.0% from 1Q 2021). Profit margin: 1.7% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Board Change • Apr 27
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 7 new directors. No experienced directors. 3 highly experienced directors. 3 independent directors (5 non-independent directors). Supervisor Yong Wen Zhang is the most experienced director on the board, commencing their role in 2013. Independent Director Chun Hung Tseng was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Dec 17
Investor sentiment improved over the past week After last week's 18% share price gain to NT$21.75, the stock trades at a trailing P/E ratio of 18.1x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 52% over the past three years. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$0.45 (vs NT$0.29 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.28b (up 21% from 3Q 2020). Net income: NT$36.0m (up 55% from 3Q 2020). Profit margin: 2.8% (up from 2.2% 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 12% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment improved over the past week After last week's 15% share price gain to NT$17.15, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 48% over the past three years. Upcoming Dividend • Aug 19
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 26 August 2021. Payment date: 22 September 2021. Trailing yield: 3.2%. Lower than top quartile of Taiwanese dividend payers (5.2%). In line with average of industry peers (3.2%). Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$0.20 (vs NT$0.62 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$1.13b (up 4.6% from 2Q 2020). Net income: NT$16.0m (down 68% from 2Q 2020). Profit margin: 1.4% (down from 4.7% in 2Q 2020). The decrease in margin was driven by higher expenses. 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 2% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$16.55, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 2.9% over the past three years. Reported Earnings • May 06
First quarter 2021 earnings released: EPS NT$0.22 (vs NT$0.084 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.00b (up 32% from 1Q 2020). Net income: NT$18.1m (up 164% from 1Q 2020). Profit margin: 1.8% (up from 0.9% in 1Q 2020). 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 whereas the company’s share price has increased by 3% per year. Reported Earnings • Mar 24
Full year 2020 earnings released: EPS NT$1.32 (vs NT$1.06 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$3.96b (down 3.8% from FY 2019). Net income: NT$107.0m (up 24% from FY 2019). Profit margin: 2.7% (up from 2.1% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has increased by 1% per year. Is New 90 Day High Low • Dec 09
New 90-day high: NT$21.10 The company is up 14% from its price of NT$18.55 on 11 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 12% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.29 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: NT$1.06b (up 3.8% from 3Q 2019). Net income: NT$23.3m (down 40% from 3Q 2019). Profit margin: 2.2% (down from 3.8% 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 9% per year whereas the company’s share price has fallen by 6% per year.