Song Shang ElectronicsLtd（6156）株式概要松尚電子有限公司は、電子部品および関連製品の製造・販売を行っています。 詳細6156 ファンダメンタル分析スノーフレーク・スコア評価2/6将来の成長0/6過去の実績0/6財務の健全性4/6配当金0/6リスク分析過去5年間で収益は年間2.5%減少しました。 意味のある時価総額がありません ( NT$2B )すべてのリスクチェックを見る6156 Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair ValueNT$Current PriceNT$18.5078.1% 割安 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-21m5b2016201920222025202620282031Revenue NT$5.4bEarnings NT$453.4mAdvancedSet Fair ValueView all narrativesSong Shang Electronics Co.,Ltd. 競合他社Partner TechSymbol: TPEX:3097Market cap: NT$2.0bEverspring IndustrySymbol: TWSE:2390Market cap: NT$2.0bTaiwan Alpha ElectronicSymbol: TPEX:6204Market cap: NT$2.0bEverFocus ElectronicsSymbol: TWSE:5484Market cap: NT$2.8b価格と性能株価の高値、安値、推移の概要Song Shang ElectronicsLtd過去の株価現在の株価NT$18.5052週高値NT$31.0552週安値NT$18.00ベータ0.771ヶ月の変化-11.27%3ヶ月変化-12.32%1年変化-33.57%3年間の変化-5.85%5年間の変化5.41%IPOからの変化-89.45%最新ニュースReported Earnings • May 20First quarter 2026 earnings released: NT$0.09 loss per share (vs NT$0.56 profit in 1Q 2025)First quarter 2026 results: NT$0.09 loss per share (down from NT$0.56 profit in 1Q 2025). Revenue: NT$1.39b (flat on 1Q 2025). Net loss: NT$9.88m (down 117% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.New Risk • May 20New major risk - Revenue and earnings growthEarnings have declined by 2.5% 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 Risk Earnings have declined by 2.5% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$1.99b market cap, or US$62.8m).Reported Earnings • Mar 12Full 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.お知らせ • Mar 05Song Shang Electronics Co.,Ltd., Annual General Meeting, May 29, 2026Song 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 TaiwanReported Earnings • Nov 05Third 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 14Second 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.最新情報をもっと見るRecent updatesReported Earnings • May 20First quarter 2026 earnings released: NT$0.09 loss per share (vs NT$0.56 profit in 1Q 2025)First quarter 2026 results: NT$0.09 loss per share (down from NT$0.56 profit in 1Q 2025). Revenue: NT$1.39b (flat on 1Q 2025). Net loss: NT$9.88m (down 117% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.New Risk • May 20New major risk - Revenue and earnings growthEarnings have declined by 2.5% 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 Risk Earnings have declined by 2.5% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$1.99b market cap, or US$62.8m).Reported Earnings • Mar 12Full 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.お知らせ • Mar 05Song Shang Electronics Co.,Ltd., Annual General Meeting, May 29, 2026Song 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 TaiwanReported Earnings • Nov 05Third 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 14Second 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 07Upcoming dividend of NT$1.00 per shareEligible 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 21Dividend increased to NT$1.00Dividend 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 09First 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.お知らせ • May 01Song Shang Electronics Co.,Ltd. to Report Q1, 2025 Results on May 07, 2025Song Shang Electronics Co.,Ltd. announced that they will report Q1, 2025 results on May 07, 2025Valuation Update With 7 Day Price Move • Apr 08Investor 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.お知らせ • Feb 28Song Shang Electronics Co.,Ltd. announced a financing transactionSong 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.お知らせ • Feb 27Song Shang Electronics Co.,Ltd., Annual General Meeting, May 26, 2025Song 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お知らせ • Feb 19Song Shang Electronics Co.,Ltd. to Report Q4, 2024 Results on Feb 26, 2025Song Shang Electronics Co.,Ltd. announced that they will report Q4, 2024 results on Feb 26, 2025New Risk • Jan 16New major risk - Shareholder dilutionThe 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 16New major risk - Financial data availabilityThe 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 07Third 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 04Investor 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.お知らせ • Oct 29Song Shang Electronics Co.,Ltd. to Report Q3, 2024 Results on Nov 05, 2024Song Shang Electronics Co.,Ltd. announced that they will report Q3, 2024 results on Nov 05, 2024Valuation Update With 7 Day Price Move • Oct 15Investor 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 30New 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 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 20Investor 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 16Now 22% overvalued after recent price riseOver 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 08Second 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 07Upcoming dividend of NT$0.80 per shareEligible 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 19Dividend of NT$0.80 announcedDividend 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.お知らせ • Jul 18Song Shang Electronics Co.,Ltd. Announces Dividend, Payable on September 10, 2024Song 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 21New minor risk - Financial data availabilityThe 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).お知らせ • May 02Song Shang Electronics Co.,Ltd. to Report Q1, 2024 Results on May 09, 2024Song Shang Electronics Co.,Ltd. announced that they will report Q1, 2024 results at 2:30 PM, Taipei Standard Time on May 09, 2024New Risk • Apr 05New minor risk - Shareholder dilutionThe 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).お知らせ • Feb 28Song Shang Electronics Co.,Ltd., Annual General Meeting, Jun 13, 2024Song 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 04Third 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 21New 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 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 05Second 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 03Upcoming dividend of NT$0.80 per share at 3.7% yieldEligible 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 21Full 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 16Less than half of directors are independentThere 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 07Investor sentiment improved over the past weekAfter 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 02Third 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 11Upcoming dividend of NT$0.52 per shareEligible 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 28Second 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 16First 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 27Less than half of directors are independentThere 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 17Investor sentiment improved over the past weekAfter 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 07Third 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 25Investor sentiment improved over the past weekAfter 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 19Upcoming dividend of NT$0.50 per shareEligible 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 09Second 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 15Investor sentiment deteriorated over the past weekAfter 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 06First 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.分析記事 • Apr 17Song Shang ElectronicsLtd (GTSM:6156) Could Easily Take On More DebtLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...分析記事 • Mar 30The Return Trends At Song Shang ElectronicsLtd (GTSM:6156) Look PromisingFinding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Reported Earnings • Mar 24Full 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.分析記事 • Mar 09Is The Market Rewarding Song Shang Electronics Co.,Ltd. (GTSM:6156) With A Negative Sentiment As A Result Of Its Mixed Fundamentals?Song Shang ElectronicsLtd (GTSM:6156) has had a rough three months with its share price down 10%. We, however decided...分析記事 • Feb 15Would Song Shang Electronics Co.,Ltd. (GTSM:6156) Be Valuable To Income Investors?Is Song Shang Electronics Co.,Ltd. ( GTSM:6156 ) a good dividend stock? How can we tell? Dividend paying companies with...分析記事 • Feb 02Calculating The Intrinsic Value Of Song Shang Electronics Co.,Ltd. (GTSM:6156)In this article we are going to estimate the intrinsic value of Song Shang Electronics Co.,Ltd. ( GTSM:6156 ) by...分析記事 • Dec 30Is Song Shang ElectronicsLtd (GTSM:6156) Using Too Much Debt?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...分析記事 • Dec 11Will Song Shang ElectronicsLtd (GTSM:6156) Multiply In Value Going Forward?There are a few key trends to look for if we want to identify the next multi-bagger. Firstly, we'll want to see a...Is New 90 Day High Low • Dec 09New 90-day high: NT$21.10The 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.分析記事 • Nov 23Is Song Shang Electronics Co.,Ltd.'s (GTSM:6156) Recent Price Movement Underpinned By Its Weak Fundamentals?With its stock down 13% over the past three months, it is easy to disregard Song Shang ElectronicsLtd (GTSM:6156). We...Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS NT$0.29The 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.株主還元6156TW ElectronicTW 市場7D-4.1%-5.3%-3.5%1Y-33.6%169.2%83.0%株主還元を見る業界別リターン: 6156過去 1 年間で169.2 % の収益を上げたTW Electronic業界を下回りました。リターン対市場: 6156は、過去 1 年間で83 % のリターンを上げたTW市場を下回りました。価格変動Is 6156's price volatile compared to industry and market?6156 volatility6156 Average Weekly Movement5.0%Electronic Industry Average Movement8.4%Market Average Movement6.2%10% most volatile stocks in TW Market12.2%10% least volatile stocks in TW Market2.5%安定した株価: 6156 、 TW市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: 6156の 週次ボラティリティ ( 5% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト1988n/aTien Fu Chenwww.song-shang.com.tw松尚電子有限公司は、電子部品および関連製品の製造・販売を行っている。主にアダプター、LED TV、LCD TV、充電器、ゲーム機、デスクトップ、モニター、プリンター、照明、通信などの用途で使用されるコイル、ラインフィルター、パワーチョーク、トランス、インダクターなどの磁気部品を提供している。また、プリント回路基板や電線製品も提供している。以前はK-Bridge Electronics Co Ltd.として知られていたが、2011年3月にSong Shang Electronics Co.宋尚電子股份有限公司は1988年に設立され、台湾の新北市に拠点を置いている。もっと見るSong Shang Electronics Co.,Ltd. 基礎のまとめSong Shang ElectronicsLtd の収益と売上を時価総額と比較するとどうか。6156 基礎統計学時価総額NT$2.00b収益（TTM）-NT$21.35m売上高(TTM)NT$4.91b0.4xP/Sレシオ-93.5xPER（株価収益率6156 は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計6156 損益計算書（TTM）収益NT$4.91b売上原価NT$4.20b売上総利益NT$712.75mその他の費用NT$734.11m収益-NT$21.35m直近の収益報告Mar 31, 2026次回決算日該当なし一株当たり利益（EPS）-0.20グロス・マージン14.51%純利益率-0.43%有利子負債／自己資本比率33.0%6156 の長期的なパフォーマンスは？過去の実績と比較を見る配当金1.1%現在の配当利回り-101%配当性向View Valuation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2026/05/21 17:05終値2026/05/21 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本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、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。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Song Shang Electronics Co.,Ltd. 0 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。0
Reported Earnings • May 20First quarter 2026 earnings released: NT$0.09 loss per share (vs NT$0.56 profit in 1Q 2025)First quarter 2026 results: NT$0.09 loss per share (down from NT$0.56 profit in 1Q 2025). Revenue: NT$1.39b (flat on 1Q 2025). Net loss: NT$9.88m (down 117% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.
New Risk • May 20New major risk - Revenue and earnings growthEarnings have declined by 2.5% 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 Risk Earnings have declined by 2.5% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$1.99b market cap, or US$62.8m).
Reported Earnings • Mar 12Full 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.
お知らせ • Mar 05Song Shang Electronics Co.,Ltd., Annual General Meeting, May 29, 2026Song 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 05Third 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 14Second 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.
Reported Earnings • May 20First quarter 2026 earnings released: NT$0.09 loss per share (vs NT$0.56 profit in 1Q 2025)First quarter 2026 results: NT$0.09 loss per share (down from NT$0.56 profit in 1Q 2025). Revenue: NT$1.39b (flat on 1Q 2025). Net loss: NT$9.88m (down 117% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.
New Risk • May 20New major risk - Revenue and earnings growthEarnings have declined by 2.5% 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 Risk Earnings have declined by 2.5% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$1.99b market cap, or US$62.8m).
Reported Earnings • Mar 12Full 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.
お知らせ • Mar 05Song Shang Electronics Co.,Ltd., Annual General Meeting, May 29, 2026Song 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 05Third 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 14Second 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 07Upcoming dividend of NT$1.00 per shareEligible 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 21Dividend increased to NT$1.00Dividend 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 09First 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.
お知らせ • May 01Song Shang Electronics Co.,Ltd. to Report Q1, 2025 Results on May 07, 2025Song Shang Electronics Co.,Ltd. announced that they will report Q1, 2025 results on May 07, 2025
Valuation Update With 7 Day Price Move • Apr 08Investor 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.
お知らせ • Feb 28Song Shang Electronics Co.,Ltd. announced a financing transactionSong 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.
お知らせ • Feb 27Song Shang Electronics Co.,Ltd., Annual General Meeting, May 26, 2025Song 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
お知らせ • Feb 19Song Shang Electronics Co.,Ltd. to Report Q4, 2024 Results on Feb 26, 2025Song Shang Electronics Co.,Ltd. announced that they will report Q4, 2024 results on Feb 26, 2025
New Risk • Jan 16New major risk - Shareholder dilutionThe 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 16New major risk - Financial data availabilityThe 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 07Third 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 04Investor 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.
お知らせ • Oct 29Song Shang Electronics Co.,Ltd. to Report Q3, 2024 Results on Nov 05, 2024Song Shang Electronics Co.,Ltd. announced that they will report Q3, 2024 results on Nov 05, 2024
Valuation Update With 7 Day Price Move • Oct 15Investor 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 30New 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 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 20Investor 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 16Now 22% overvalued after recent price riseOver 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 08Second 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 07Upcoming dividend of NT$0.80 per shareEligible 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 19Dividend of NT$0.80 announcedDividend 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.
お知らせ • Jul 18Song Shang Electronics Co.,Ltd. Announces Dividend, Payable on September 10, 2024Song 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 21New minor risk - Financial data availabilityThe 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).
お知らせ • May 02Song Shang Electronics Co.,Ltd. to Report Q1, 2024 Results on May 09, 2024Song 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 05New minor risk - Shareholder dilutionThe 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).
お知らせ • Feb 28Song Shang Electronics Co.,Ltd., Annual General Meeting, Jun 13, 2024Song 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 04Third 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 21New 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 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 05Second 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 03Upcoming dividend of NT$0.80 per share at 3.7% yieldEligible 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 21Full 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 16Less than half of directors are independentThere 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 07Investor sentiment improved over the past weekAfter 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 02Third 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 11Upcoming dividend of NT$0.52 per shareEligible 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 28Second 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 16First 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 27Less than half of directors are independentThere 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 17Investor sentiment improved over the past weekAfter 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 07Third 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 25Investor sentiment improved over the past weekAfter 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 19Upcoming dividend of NT$0.50 per shareEligible 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 09Second 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 15Investor sentiment deteriorated over the past weekAfter 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 06First 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.
分析記事 • Apr 17Song Shang ElectronicsLtd (GTSM:6156) Could Easily Take On More DebtLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
分析記事 • Mar 30The Return Trends At Song Shang ElectronicsLtd (GTSM:6156) Look PromisingFinding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Reported Earnings • Mar 24Full 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.
分析記事 • Mar 09Is The Market Rewarding Song Shang Electronics Co.,Ltd. (GTSM:6156) With A Negative Sentiment As A Result Of Its Mixed Fundamentals?Song Shang ElectronicsLtd (GTSM:6156) has had a rough three months with its share price down 10%. We, however decided...
分析記事 • Feb 15Would Song Shang Electronics Co.,Ltd. (GTSM:6156) Be Valuable To Income Investors?Is Song Shang Electronics Co.,Ltd. ( GTSM:6156 ) a good dividend stock? How can we tell? Dividend paying companies with...
分析記事 • Feb 02Calculating The Intrinsic Value Of Song Shang Electronics Co.,Ltd. (GTSM:6156)In this article we are going to estimate the intrinsic value of Song Shang Electronics Co.,Ltd. ( GTSM:6156 ) by...
分析記事 • Dec 30Is Song Shang ElectronicsLtd (GTSM:6156) Using Too Much Debt?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
分析記事 • Dec 11Will Song Shang ElectronicsLtd (GTSM:6156) Multiply In Value Going Forward?There are a few key trends to look for if we want to identify the next multi-bagger. Firstly, we'll want to see a...
Is New 90 Day High Low • Dec 09New 90-day high: NT$21.10The 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.
分析記事 • Nov 23Is Song Shang Electronics Co.,Ltd.'s (GTSM:6156) Recent Price Movement Underpinned By Its Weak Fundamentals?With its stock down 13% over the past three months, it is easy to disregard Song Shang ElectronicsLtd (GTSM:6156). We...
Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS NT$0.29The 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.
