View ValuationJiu Han System Technology 将来の成長Future 基準チェック /56Jiu Han System Technologyは、50.4%と52.4%でそれぞれ年率50.4%で利益と収益が成長すると予測される一方、EPSはgrowで50.1%年率。主要情報50.4%収益成長率50.09%EPS成長率Construction 収益成長13.1%収益成長率52.4%将来の株主資本利益率n/aアナリストカバレッジLow最終更新日08 Jun 2026今後の成長に関する最新情報更新なしすべての更新を表示Recent updatesDeclared Dividend • Jun 08Dividend of NT$8.50 announcedShareholders will receive a dividend of NT$8.50. Ex-date: 23rd June 2026 Payment date: 13th July 2026 Dividend yield will be 2.2%, which is lower than the industry average of 4.7%. Sustainability & Growth Dividend is covered by both earnings (54% earnings payout ratio) and cash flows (66% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 52% over the next year, which should provide support to the dividend and adequate earnings cover.Reported Earnings • May 16First quarter 2026 earnings: EPS exceeds analyst expectationsFirst quarter 2026 results: EPS: NT$6.00 (up from NT$1.00 in 1Q 2025). Revenue: NT$1.93b (up 359% from 1Q 2025). Net income: NT$442.5m (up NT$376.0m from 1Q 2025). Profit margin: 23% (up from 16% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 20%. Revenue is forecast to grow 52% p.a. on average during the next 2 years, compared to a 31% growth forecast for the Construction industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Apr 09Investor sentiment improves as stock rises 27%After last week's 27% share price gain to NT$356, the stock trades at a trailing P/E ratio of 33.6x. Average trailing P/E is 18x in the Construction industry in Taiwan. Total returns to shareholders of 144% over the past three years.お知らせ • Mar 09Jiu Han System Technology Co., Ltd., Annual General Meeting, May 27, 2026Jiu Han System Technology Co., Ltd., Annual General Meeting, May 27, 2026, at 09:00 Taipei Standard Time. Location: 13 floor no,188, sec.2 chung hua rd., hsinchu city TaiwanReported Earnings • Mar 08Full year 2025 earnings released: EPS: NT$10.62 (vs NT$9.28 in FY 2024)Full year 2025 results: EPS: NT$10.62 (up from NT$9.28 in FY 2024). Revenue: NT$3.60b (up 25% from FY 2024). Net income: NT$705.5m (up 19% from FY 2024). Profit margin: 20% (in line with FY 2024). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Feb 12Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$276, the stock trades at a trailing P/E ratio of 38.9x. Average trailing P/E is 16x in the Construction industry in Taiwan. Total returns to shareholders of 124% over the past three years.New Risk • Jan 13New major risk - Share price stabilityThe 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 Risks Share price has been highly volatile over the past 3 months (8.4% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 113% Cash payout ratio: 213% Earnings have declined by 8.8% per year over the past 5 years. High level of non-cash earnings (20% accrual ratio).Valuation Update With 7 Day Price Move • Jan 13Investor sentiment improves as stock rises 21%After last week's 21% share price gain to NT$277, the stock trades at a trailing P/E ratio of 39x. Average trailing P/E is 18x in the Construction industry in Taiwan. Total returns to shareholders of 149% over the past three years.Valuation Update With 7 Day Price Move • Dec 10Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$184, the stock trades at a trailing P/E ratio of 25.9x. Average trailing P/E is 18x in the Construction industry in Taiwan. Total returns to shareholders of 72% over the past three years.Valuation Update With 7 Day Price Move • Nov 14Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$167, the stock trades at a trailing P/E ratio of 23.5x. Average trailing P/E is 17x in the Construction industry in Taiwan. Total returns to shareholders of 58% over the past three years.Reported Earnings • Nov 08Third quarter 2025 earnings released: EPS: NT$2.70 (vs NT$1.68 in 3Q 2024)Third quarter 2025 results: EPS: NT$2.70 (up from NT$1.68 in 3Q 2024). Revenue: NT$900.0m (up 56% from 3Q 2024). Net income: NT$180.2m (up 61% from 3Q 2024). Profit margin: 20% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.New Risk • Sep 17New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.5% 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: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 112% Paying a dividend despite having no free cash flows. Earnings have declined by 6.7% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.5% average weekly change).Valuation Update With 7 Day Price Move • Aug 27Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$151, the stock trades at a trailing P/E ratio of 24.8x. Average trailing P/E is 17x in the Construction industry in Taiwan. Total returns to shareholders of 5.1% over the past three years.Reported Earnings • Aug 17Second quarter 2025 earnings released: EPS: NT$1.79 (vs NT$2.93 in 2Q 2024)Second quarter 2025 results: EPS: NT$1.79 (down from NT$2.93 in 2Q 2024). Revenue: NT$649.1m (down 31% from 2Q 2024). Net income: NT$119.5m (down 34% from 2Q 2024). Profit margin: 18% (down from 19% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings.Valuation Update With 7 Day Price Move • Aug 11Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$118, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 18x in the Construction industry in Taiwan. Negligible returns to shareholders over past three years.Buy Or Sell Opportunity • Jul 29Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 6.1% to NT$101. The fair value is estimated to be NT$128, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Earnings per share has declined by 24%.Declared Dividend • Jun 07Dividend reduced to NT$8.00Dividend of NT$8.00 is 14% lower than last year. Ex-date: 20th June 2025 Payment date: 14th July 2025 Dividend yield will be 6.5%, which is higher than the industry average of 4.7%. Sustainability & Growth Dividend is not covered by earnings (112% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 26 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 25% to bring the payout ratio under control, which is more than the 6.1% EPS growth achieved over the last 5 years.New Risk • May 14New major risk - Revenue and earnings growthEarnings have declined by 3.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 112% Paying a dividend despite having no free cash flows. Earnings have declined by 3.0% per year over the past 5 years. High level of non-cash earnings (101% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (19% net profit margin).お知らせ • May 03Jiu Han System Technology Co., Ltd. to Report Q1, 2025 Results on May 12, 2025Jiu Han System Technology Co., Ltd. announced that they will report Q1, 2025 results on May 12, 2025New Risk • May 01New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 93% The company is paying a dividend despite having no free cash flows. Dividend yield: 8.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 93% Paying a dividend despite having no free cash flows. High level of non-cash earnings (162% accrual ratio).Reported Earnings • May 01Full year 2024 earnings released: EPS: NT$9.28 (vs NT$13.54 in FY 2023)Full year 2024 results: EPS: NT$9.28 (down from NT$13.54 in FY 2023). Revenue: NT$2.89b (flat on FY 2023). Net income: NT$594.3m (down 28% from FY 2023). Profit margin: 21% (down from 29% in FY 2023).Valuation Update With 7 Day Price Move • Apr 29Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$110, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 16x in the Construction industry in Taiwan. Total loss to shareholders of 45% over the past year.Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to NT$96.80, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 16x in the Construction industry in Taiwan. Total loss to shareholders of 56% over the past year.New Risk • Mar 10New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.0% 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 earnings (93% payout ratio). Share price has been volatile over the past 3 months (6.0% average weekly change).お知らせ • Mar 06+ 1 more updateJiu Han System Technology Co., Ltd., Annual General Meeting, May 28, 2025Jiu Han System Technology Co., Ltd., Annual General Meeting, May 28, 2025, at 09:00 Taipei Standard Time. Location: 13 floor no,188, sec.2 chung hua rd., hsinchu city TaiwanValuation Update With 7 Day Price Move • Dec 30Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$136, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 16x in the Construction industry in Taiwan. Total loss to shareholders of 12% over the past year.Reported Earnings • Nov 18Third quarter 2024 earnings released: EPS: NT$1.68 (vs NT$3.42 in 3Q 2023)Third quarter 2024 results: EPS: NT$1.68 (down from NT$3.42 in 3Q 2023). Revenue: NT$575.1m (down 14% from 3Q 2023). Net income: NT$112.1m (down 46% from 3Q 2023). Profit margin: 20% (down from 31% in 3Q 2023).お知らせ • Oct 17Jiu Han System Technology Co., Ltd. to Report Q3, 2024 Results on Oct 24, 2024Jiu Han System Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 24, 2024New Risk • Aug 13New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 10% 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 Short dividend paying track record (1 year of continuous dividend payments). Shareholders have been diluted in the past year (10% increase in shares outstanding).Reported Earnings • Aug 08Second quarter 2024 earnings released: EPS: NT$2.93 (vs NT$3.35 in 2Q 2023)Second quarter 2024 results: EPS: NT$2.93 (down from NT$3.35 in 2Q 2023). Revenue: NT$937.6m (up 37% from 2Q 2023). Net income: NT$182.0m (down 10% from 2Q 2023). Profit margin: 19% (down from 30% in 2Q 2023). The decrease in margin was driven by higher expenses.Buy Or Sell Opportunity • Aug 02Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 23% to NT$161. The fair value is estimated to be NT$203, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 32% over the last year. Earnings per share has declined by 27%.お知らせ • Jul 19Jiu Han System Technology Co., Ltd. to Report Q2, 2024 Results on Jul 26, 2024Jiu Han System Technology Co., Ltd. announced that they will report Q2, 2024 results on Jul 26, 2024Upcoming Dividend • Jun 24Upcoming dividend of NT$9.27 per shareEligible shareholders must have bought the stock before 01 July 2024. Payment date: 23 July 2024. Payout ratio is on the higher end at 75%, however this is supported by cash flows. Trailing yield: 5.4%. Within top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (3.6%).Valuation Update With 7 Day Price Move • Apr 08Investor sentiment improves as stock rises 23%After last week's 23% share price gain to NT$221, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 16x in the Construction industry in Taiwan. Total returns to shareholders of 29% over the past year.お知らせ • Apr 03Jiu Han System Technology Co., Ltd. has filed a Follow-on Equity Offering in the amount of TWD 60.76 million.Jiu Han System Technology Co., Ltd. has filed a Follow-on Equity Offering in the amount of TWD 60.76 million. Security Name: Shares Security Type: Common Stock Securities Offered: 450,074 Price\Range: TWD 135お知らせ • Mar 09Jiu Han System Technology Co., Ltd., Annual General Meeting, May 30, 2024Jiu Han System Technology Co., Ltd., Annual General Meeting, May 30, 2024.Reported Earnings • Dec 21Third quarter 2023 earnings released: EPS: NT$3.42 (vs NT$3.86 in 3Q 2022)Third quarter 2023 results: EPS: NT$3.42 (down from NT$3.86 in 3Q 2022). Revenue: NT$669.7m (down 34% from 3Q 2022). Net income: NT$207.5m (down 11% from 3Q 2022). Profit margin: 31% (up from 23% in 3Q 2022). The increase in margin was driven by lower expenses.Buying Opportunity • Oct 11Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 23%. The fair value is estimated to be NT$163, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last year. Earnings per share has declined by 22%.New Risk • Jun 23New minor risk - Dividend sustainabilityThe company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 6.5% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2022 fiscal period end). Short dividend paying track record (less than a year of continuous dividend payments).Valuation Update With 7 Day Price Move • Mar 06Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$298, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 11x in the Construction industry in Taiwan.業績と収益の成長予測TPEX:6903 - アナリストの将来予測と過去の財務データ ( )TWD Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/202714,5972,960N/A3,228112/31/202610,8122,235N/A2,50413/31/20265,1101,0828611,039N/A12/31/20253,604706771780N/A9/30/20252,533473250260N/A6/30/20252,208405-37-11N/A3/31/20252,497467-419-390N/A12/31/20242,886594-551-530N/A9/30/20243,008683708729N/A6/30/20243,1027791,1531,159N/A3/31/20242,849800885890N/A12/31/20232,8688201,1381,143N/A9/30/20233,209809523528N/A6/30/20233,542884223229N/A3/31/20234,6231,301181191N/A12/31/20224,7171,303552566N/A9/30/20224,3321,258563576N/A6/30/20223,9711,1141,2481,260N/A3/31/20222,8886541,3901,396N/A12/31/20212,6475971,0361,037N/A12/31/20202,136377312313N/A12/31/2019950180N/A180N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: 6903の予測収益成長率 (年間50.4% ) は 貯蓄率 ( 1.3% ) を上回っています。収益対市場: 6903の収益 ( 50.4% ) はTW市場 ( 26.3% ) よりも速いペースで成長すると予測されています。高成長収益: 6903の収益は今後 3 年間で 大幅に 増加すると予想されています。収益対市場: 6903の収益 ( 52.4% ) TW市場 ( 18.8% ) よりも速いペースで成長すると予測されています。高い収益成長: 6903の収益 ( 52.4% ) 20%よりも速いペースで成長すると予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: 6903の 自己資本利益率 が 3 年後に高くなると予測されるかどうかを判断するにはデータが不十分です成長企業の発掘7D1Y7D1Y7D1YCapital-goods 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/06/23 20:33終値2026/06/23 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社の Github ページ でご覧いただけます。また、レポートの使い方に関する ガイド や YouTube の チュートリアル もご用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Jiu Han System Technology Co., Ltd. 1 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。1 アナリスト機関Licheng ZhuangCapital Securities Corporation
Declared Dividend • Jun 08Dividend of NT$8.50 announcedShareholders will receive a dividend of NT$8.50. Ex-date: 23rd June 2026 Payment date: 13th July 2026 Dividend yield will be 2.2%, which is lower than the industry average of 4.7%. Sustainability & Growth Dividend is covered by both earnings (54% earnings payout ratio) and cash flows (66% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 52% over the next year, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • May 16First quarter 2026 earnings: EPS exceeds analyst expectationsFirst quarter 2026 results: EPS: NT$6.00 (up from NT$1.00 in 1Q 2025). Revenue: NT$1.93b (up 359% from 1Q 2025). Net income: NT$442.5m (up NT$376.0m from 1Q 2025). Profit margin: 23% (up from 16% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 20%. Revenue is forecast to grow 52% p.a. on average during the next 2 years, compared to a 31% growth forecast for the Construction industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Apr 09Investor sentiment improves as stock rises 27%After last week's 27% share price gain to NT$356, the stock trades at a trailing P/E ratio of 33.6x. Average trailing P/E is 18x in the Construction industry in Taiwan. Total returns to shareholders of 144% over the past three years.
お知らせ • Mar 09Jiu Han System Technology Co., Ltd., Annual General Meeting, May 27, 2026Jiu Han System Technology Co., Ltd., Annual General Meeting, May 27, 2026, at 09:00 Taipei Standard Time. Location: 13 floor no,188, sec.2 chung hua rd., hsinchu city Taiwan
Reported Earnings • Mar 08Full year 2025 earnings released: EPS: NT$10.62 (vs NT$9.28 in FY 2024)Full year 2025 results: EPS: NT$10.62 (up from NT$9.28 in FY 2024). Revenue: NT$3.60b (up 25% from FY 2024). Net income: NT$705.5m (up 19% from FY 2024). Profit margin: 20% (in line with FY 2024). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Feb 12Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$276, the stock trades at a trailing P/E ratio of 38.9x. Average trailing P/E is 16x in the Construction industry in Taiwan. Total returns to shareholders of 124% over the past three years.
New Risk • Jan 13New major risk - Share price stabilityThe 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 Risks Share price has been highly volatile over the past 3 months (8.4% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 113% Cash payout ratio: 213% Earnings have declined by 8.8% per year over the past 5 years. High level of non-cash earnings (20% accrual ratio).
Valuation Update With 7 Day Price Move • Jan 13Investor sentiment improves as stock rises 21%After last week's 21% share price gain to NT$277, the stock trades at a trailing P/E ratio of 39x. Average trailing P/E is 18x in the Construction industry in Taiwan. Total returns to shareholders of 149% over the past three years.
Valuation Update With 7 Day Price Move • Dec 10Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$184, the stock trades at a trailing P/E ratio of 25.9x. Average trailing P/E is 18x in the Construction industry in Taiwan. Total returns to shareholders of 72% over the past three years.
Valuation Update With 7 Day Price Move • Nov 14Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$167, the stock trades at a trailing P/E ratio of 23.5x. Average trailing P/E is 17x in the Construction industry in Taiwan. Total returns to shareholders of 58% over the past three years.
Reported Earnings • Nov 08Third quarter 2025 earnings released: EPS: NT$2.70 (vs NT$1.68 in 3Q 2024)Third quarter 2025 results: EPS: NT$2.70 (up from NT$1.68 in 3Q 2024). Revenue: NT$900.0m (up 56% from 3Q 2024). Net income: NT$180.2m (up 61% from 3Q 2024). Profit margin: 20% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.
New Risk • Sep 17New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.5% 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: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 112% Paying a dividend despite having no free cash flows. Earnings have declined by 6.7% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.5% average weekly change).
Valuation Update With 7 Day Price Move • Aug 27Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$151, the stock trades at a trailing P/E ratio of 24.8x. Average trailing P/E is 17x in the Construction industry in Taiwan. Total returns to shareholders of 5.1% over the past three years.
Reported Earnings • Aug 17Second quarter 2025 earnings released: EPS: NT$1.79 (vs NT$2.93 in 2Q 2024)Second quarter 2025 results: EPS: NT$1.79 (down from NT$2.93 in 2Q 2024). Revenue: NT$649.1m (down 31% from 2Q 2024). Net income: NT$119.5m (down 34% from 2Q 2024). Profit margin: 18% (down from 19% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings.
Valuation Update With 7 Day Price Move • Aug 11Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$118, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 18x in the Construction industry in Taiwan. Negligible returns to shareholders over past three years.
Buy Or Sell Opportunity • Jul 29Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 6.1% to NT$101. The fair value is estimated to be NT$128, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Earnings per share has declined by 24%.
Declared Dividend • Jun 07Dividend reduced to NT$8.00Dividend of NT$8.00 is 14% lower than last year. Ex-date: 20th June 2025 Payment date: 14th July 2025 Dividend yield will be 6.5%, which is higher than the industry average of 4.7%. Sustainability & Growth Dividend is not covered by earnings (112% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 26 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 25% to bring the payout ratio under control, which is more than the 6.1% EPS growth achieved over the last 5 years.
New Risk • May 14New major risk - Revenue and earnings growthEarnings have declined by 3.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 112% Paying a dividend despite having no free cash flows. Earnings have declined by 3.0% per year over the past 5 years. High level of non-cash earnings (101% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (19% net profit margin).
お知らせ • May 03Jiu Han System Technology Co., Ltd. to Report Q1, 2025 Results on May 12, 2025Jiu Han System Technology Co., Ltd. announced that they will report Q1, 2025 results on May 12, 2025
New Risk • May 01New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 93% The company is paying a dividend despite having no free cash flows. Dividend yield: 8.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 93% Paying a dividend despite having no free cash flows. High level of non-cash earnings (162% accrual ratio).
Reported Earnings • May 01Full year 2024 earnings released: EPS: NT$9.28 (vs NT$13.54 in FY 2023)Full year 2024 results: EPS: NT$9.28 (down from NT$13.54 in FY 2023). Revenue: NT$2.89b (flat on FY 2023). Net income: NT$594.3m (down 28% from FY 2023). Profit margin: 21% (down from 29% in FY 2023).
Valuation Update With 7 Day Price Move • Apr 29Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$110, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 16x in the Construction industry in Taiwan. Total loss to shareholders of 45% over the past year.
Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to NT$96.80, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 16x in the Construction industry in Taiwan. Total loss to shareholders of 56% over the past year.
New Risk • Mar 10New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.0% 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 earnings (93% payout ratio). Share price has been volatile over the past 3 months (6.0% average weekly change).
お知らせ • Mar 06+ 1 more updateJiu Han System Technology Co., Ltd., Annual General Meeting, May 28, 2025Jiu Han System Technology Co., Ltd., Annual General Meeting, May 28, 2025, at 09:00 Taipei Standard Time. Location: 13 floor no,188, sec.2 chung hua rd., hsinchu city Taiwan
Valuation Update With 7 Day Price Move • Dec 30Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$136, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 16x in the Construction industry in Taiwan. Total loss to shareholders of 12% over the past year.
Reported Earnings • Nov 18Third quarter 2024 earnings released: EPS: NT$1.68 (vs NT$3.42 in 3Q 2023)Third quarter 2024 results: EPS: NT$1.68 (down from NT$3.42 in 3Q 2023). Revenue: NT$575.1m (down 14% from 3Q 2023). Net income: NT$112.1m (down 46% from 3Q 2023). Profit margin: 20% (down from 31% in 3Q 2023).
お知らせ • Oct 17Jiu Han System Technology Co., Ltd. to Report Q3, 2024 Results on Oct 24, 2024Jiu Han System Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 24, 2024
New Risk • Aug 13New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 10% 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 Short dividend paying track record (1 year of continuous dividend payments). Shareholders have been diluted in the past year (10% increase in shares outstanding).
Reported Earnings • Aug 08Second quarter 2024 earnings released: EPS: NT$2.93 (vs NT$3.35 in 2Q 2023)Second quarter 2024 results: EPS: NT$2.93 (down from NT$3.35 in 2Q 2023). Revenue: NT$937.6m (up 37% from 2Q 2023). Net income: NT$182.0m (down 10% from 2Q 2023). Profit margin: 19% (down from 30% in 2Q 2023). The decrease in margin was driven by higher expenses.
Buy Or Sell Opportunity • Aug 02Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 23% to NT$161. The fair value is estimated to be NT$203, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 32% over the last year. Earnings per share has declined by 27%.
お知らせ • Jul 19Jiu Han System Technology Co., Ltd. to Report Q2, 2024 Results on Jul 26, 2024Jiu Han System Technology Co., Ltd. announced that they will report Q2, 2024 results on Jul 26, 2024
Upcoming Dividend • Jun 24Upcoming dividend of NT$9.27 per shareEligible shareholders must have bought the stock before 01 July 2024. Payment date: 23 July 2024. Payout ratio is on the higher end at 75%, however this is supported by cash flows. Trailing yield: 5.4%. Within top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (3.6%).
Valuation Update With 7 Day Price Move • Apr 08Investor sentiment improves as stock rises 23%After last week's 23% share price gain to NT$221, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 16x in the Construction industry in Taiwan. Total returns to shareholders of 29% over the past year.
お知らせ • Apr 03Jiu Han System Technology Co., Ltd. has filed a Follow-on Equity Offering in the amount of TWD 60.76 million.Jiu Han System Technology Co., Ltd. has filed a Follow-on Equity Offering in the amount of TWD 60.76 million. Security Name: Shares Security Type: Common Stock Securities Offered: 450,074 Price\Range: TWD 135
お知らせ • Mar 09Jiu Han System Technology Co., Ltd., Annual General Meeting, May 30, 2024Jiu Han System Technology Co., Ltd., Annual General Meeting, May 30, 2024.
Reported Earnings • Dec 21Third quarter 2023 earnings released: EPS: NT$3.42 (vs NT$3.86 in 3Q 2022)Third quarter 2023 results: EPS: NT$3.42 (down from NT$3.86 in 3Q 2022). Revenue: NT$669.7m (down 34% from 3Q 2022). Net income: NT$207.5m (down 11% from 3Q 2022). Profit margin: 31% (up from 23% in 3Q 2022). The increase in margin was driven by lower expenses.
Buying Opportunity • Oct 11Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 23%. The fair value is estimated to be NT$163, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last year. Earnings per share has declined by 22%.
New Risk • Jun 23New minor risk - Dividend sustainabilityThe company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 6.5% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2022 fiscal period end). Short dividend paying track record (less than a year of continuous dividend payments).
Valuation Update With 7 Day Price Move • Mar 06Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$298, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 11x in the Construction industry in Taiwan.