Reported Earnings • May 21
First quarter 2026 earnings released: EPS: NT$0.02 (vs NT$0.047 in 1Q 2025) First quarter 2026 results: EPS: NT$0.02 (down from NT$0.047 in 1Q 2025). Revenue: NT$299.7m (up 2.8% from 1Q 2025). Net income: NT$823.0k (down 68% from 1Q 2025). Profit margin: 0.3% (down from 0.9% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 02
Full year 2025 earnings released: NT$0.40 loss per share (vs NT$0.015 profit in FY 2024) Full year 2025 results: NT$0.40 loss per share (down from NT$0.015 profit in FY 2024). Revenue: NT$1.18b (down 3.9% from FY 2024). Net loss: NT$21.5m (down NT$22.3m from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. 공시 • Mar 02
Xu Yuan Packaging Technology Co., Ltd., Annual General Meeting, May 22, 2026 Xu Yuan Packaging Technology Co., Ltd., Annual General Meeting, May 22, 2026. Location: no,31, chao ching, singpu township, hsinchu county Taiwan New Risk • Nov 16
New major risk - Revenue and earnings growth Earnings have declined by 4.5% 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 Risks Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Earnings have declined by 4.5% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$670.7m market cap, or US$21.8m). Reported Earnings • Nov 16
Third quarter 2025 earnings released: EPS: NT$0.02 (vs NT$0.027 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.02 (down from NT$0.027 in 3Q 2024). Revenue: NT$287.6m (down 9.7% from 3Q 2024). Net income: NT$831.0k (down 43% from 3Q 2024). Profit margin: 0.3% (down from 0.5% in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 116 percentage points per year, which is a significant difference in performance. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: NT$0.05 (vs NT$0.14 in 1Q 2024) First quarter 2025 results: EPS: NT$0.05 (down from NT$0.14 in 1Q 2024). Revenue: NT$291.5m (down 2.2% from 1Q 2024). Net income: NT$2.55m (down 66% from 1Q 2024). Profit margin: 0.9% (down from 2.5% in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 115 percentage points per year, which is a significant difference in performance. New Risk • Apr 04
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 66% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.0x net interest cover). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (NT$665.6m market cap, or US$20.0m). Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$0.02 (vs NT$0.45 loss in FY 2023) Full year 2024 results: EPS: NT$0.02 (up from NT$0.45 loss in FY 2023). Revenue: NT$1.22b (up 3.7% from FY 2023). Net income: NT$816.0k (up NT$25.4m from FY 2023). Profit margin: 0.1% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. 공시 • Mar 13
Xu Yuan Packaging Technology Co., Ltd., Annual General Meeting, May 27, 2025 Xu Yuan Packaging Technology Co., Ltd., Annual General Meeting, May 27, 2025. Location: no,31, chao ching, singpu township, hsinchu county Taiwan Buy Or Sell Opportunity • Dec 12
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 4.7% to NT$15.60. The fair value is estimated to be NT$12.97, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.3% over the last 3 years. Earnings per share has declined by 49%. Buy Or Sell Opportunity • Nov 25
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 4.3% to NT$15.75. The fair value is estimated to be NT$12.88, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.3% over the last 3 years. Earnings per share has declined by 49%. Reported Earnings • Nov 19
Third quarter 2024 earnings released: EPS: NT$0.03 (vs NT$0.025 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.03 (up from NT$0.025 in 3Q 2023). Revenue: NT$318.3m (up 11% from 3Q 2023). Net income: NT$1.47m (up 10% from 3Q 2023). Profit margin: 0.5% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.02 (vs NT$0.14 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.02 (down from NT$0.14 in 2Q 2023). Revenue: NT$302.6m (flat on 2Q 2023). Net income: NT$1.13m (down 85% from 2Q 2023). Profit margin: 0.4% (down from 2.5% in 2Q 2023). 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 17% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Jul 01
Now 29% overvalued after recent price rise Over the last 90 days, the stock has risen 8.9% to NT$14.75. The fair value is estimated to be NT$11.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 4.0%. Buy Or Sell Opportunity • Jun 27
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 10% to NT$14.60. The fair value is estimated to be NT$11.46, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 4.0%. Buy Or Sell Opportunity • Jun 08
Now 20% overvalued Over the last 90 days, the stock has fallen 4.2% to NT$13.55. The fair value is estimated to be NT$11.26, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 4.0%. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.14 (vs NT$0.31 loss in 1Q 2023) First quarter 2024 results: EPS: NT$0.14 (up from NT$0.31 loss in 1Q 2023). Revenue: NT$298.0m (up 5.6% from 1Q 2023). Net income: NT$7.55m (up NT$24.4m from 1Q 2023). Profit margin: 2.5% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 02
Full year 2023 earnings released: NT$0.45 loss per share (vs NT$8.67 profit in FY 2022) Full year 2023 results: NT$0.45 loss per share (down from NT$8.67 profit in FY 2022). Revenue: NT$1.18b (down 7.1% from FY 2022). Net loss: NT$24.6m (down 105% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. 공시 • Mar 09
Xu Yuan Packaging Technology Co., Ltd., Annual General Meeting, May 24, 2024 Xu Yuan Packaging Technology Co., Ltd., Annual General Meeting, May 24, 2024. Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: NT$0.14 (vs NT$0.007 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.14 (up from NT$0.007 in 2Q 2022). Revenue: NT$304.4m (down 2.5% from 2Q 2022). Net income: NT$7.57m (up NT$7.21m from 2Q 2022). Profit margin: 2.5% (up from 0.1% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. New Risk • Jul 24
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 7.5% 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 Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk Market cap is less than US$100m (NT$726.9m market cap, or US$23.2m). Upcoming Dividend • Jul 10
Upcoming dividend of NT$1.01 per share Eligible shareholders must have bought the stock before 17 July 2023. Payment date: 08 August 2023. The company last paid an ordinary dividend in August 2012. The average dividend yield among industry peers is 3.1%. Reported Earnings • Nov 18
Third quarter 2022 earnings released: EPS: NT$0.18 (vs NT$0.055 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.18 (up from NT$0.055 in 3Q 2021). Revenue: NT$326.7m (down 4.9% from 3Q 2021). Net income: NT$9.96m (up 229% from 3Q 2021). Profit margin: 3.0% (up from 0.9% 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 94% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment improved over the past week After last week's 17% share price gain to NT$20.00, the stock trades at a trailing P/E ratio of 2.6x. Average trailing P/E is 14x in the Machinery industry in Taiwan. Total returns to shareholders of 33% over the past three years. Valuation Update With 7 Day Price Move • May 25
Investor sentiment improved over the past week After last week's 23% share price gain to NT$15.55, the stock trades at a trailing P/E ratio of 2x. Average trailing P/E is 14x in the Machinery industry in Taiwan. Total returns to shareholders of 1.9% over the past three years. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Apr 04
Full year 2021 earnings released: NT$2.07 loss per share (vs NT$1.87 loss in FY 2020) Full year 2021 results: NT$2.07 loss per share (down from NT$1.87 loss in FY 2020). Revenue: NT$1.29b (up 9.3% from FY 2020). Net loss: NT$113.7m (loss widened 11% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Reported Earnings • May 18
First quarter 2021 earnings released: NT$0.41 loss per share (vs NT$0.56 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: NT$296.1m (up 10% from 1Q 2020). Net loss: NT$22.2m (loss narrowed 27% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 01
Full year 2020 earnings released: NT$1.87 loss per share (vs NT$0.22 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: NT$1.18b (down 11% from FY 2019). Net loss: NT$102.5m (loss widened NT$90.6m from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Jan 11
New 90-day low: NT$9.40 The company is down 5.0% from its price of NT$9.89 on 14 October 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 24% over the same period. Is New 90 Day High Low • Dec 22
New 90-day low: NT$9.45 The company is down 3.0% from its price of NT$9.77 on 24 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 16% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: NT$0.45 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: NT$299.0m (down 8.7% from 3Q 2019). Net loss: NT$24.5m (down NT$24.7m from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 101% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.