New Risk • Jun 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.12b (US$99.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Profit margins are more than 30% lower than last year (8.3% net profit margin). Market cap is less than US$100m (NT$3.12b market cap, or US$99.0m). Reported Earnings • May 06
First quarter 2026 earnings released: EPS: NT$0.32 (vs NT$0.058 loss in 1Q 2025) First quarter 2026 results: EPS: NT$0.32 (up from NT$0.058 loss in 1Q 2025). Revenue: NT$666.5m (up NT$665.1m from 1Q 2025). Net income: NT$72.5m (up NT$85.6m from 1Q 2025). Profit margin: 11% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. New Risk • Mar 04
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: NT$5.8m (US$183k) This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 13% per year over the past 5 years. Revenue is less than US$1m (NT$5.8m revenue, or US$183k). 공시 • Mar 04
Sunfon Construction Co., Ltd., Annual General Meeting, May 21, 2026 Sunfon Construction Co., Ltd., Annual General Meeting, May 21, 2026, at 09:00 Taipei Standard Time. Location: 2 floor no,99, fu hsing n. rd., songshan district, taipei city Taiwan Reported Earnings • Nov 07
Third quarter 2025 earnings released: EPS: NT$0.07 (vs NT$0.025 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.07 (up from NT$0.025 in 3Q 2024). Revenue: NT$1.45m (down 1.4% from 3Q 2024). Net income: NT$16.4m (up 192% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Aug 06
First half 2025 earnings released: NT$0.12 loss per share (vs NT$0.082 loss in 1H 2024) First half 2025 results: NT$0.12 loss per share (further deteriorated from NT$0.082 loss in 1H 2024). Revenue: NT$2.89m (flat on 1H 2024). Net loss: NT$25.7m (loss widened 36% from 1H 2024). Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 07
First quarter 2025 earnings released: NT$0.06 loss per share (vs NT$0.048 loss in 1Q 2024) First quarter 2025 results: NT$0.06 loss per share (further deteriorated from NT$0.048 loss in 1Q 2024). Revenue: NT$1.45m (flat on 1Q 2024). Net loss: NT$13.1m (loss widened 26% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. 공시 • Apr 27
Sunfon Construction Co., Ltd. to Report Q1, 2025 Results on May 06, 2025 Sunfon Construction Co., Ltd. announced that they will report Q1, 2025 results on May 06, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$16.55, the stock trades at a trailing P/E ratio of 42.5x. Average trailing P/E is 12x in the Real Estate industry in Taiwan. Total loss to shareholders of 12% over the past three years. Reported Earnings • Mar 12
Full year 2024 earnings released: EPS: NT$0.39 (vs NT$0.13 in FY 2023) Full year 2024 results: EPS: NT$0.39 (up from NT$0.13 in FY 2023). Revenue: NT$684.9m (up 43% from FY 2023). Net income: NT$84.9m (up 193% from FY 2023). Profit margin: 12% (up from 6.0% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. 공시 • Feb 27
Sunfon Construction Co., Ltd., Annual General Meeting, May 22, 2025 Sunfon Construction Co., Ltd., Annual General Meeting, May 22, 2025. Location: 2 floor no,99, fu hsing n. rd., songshan district, taipei city Taiwan 공시 • Feb 18
Sunfon Construction Co., Ltd. to Report Q4, 2024 Results on Feb 26, 2025 Sunfon Construction Co., Ltd. announced that they will report Q4, 2024 results on Feb 26, 2025 Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.03 (vs NT$0.017 loss in 3Q 2023) Third quarter 2024 results: EPS: NT$0.03 (up from NT$0.017 loss in 3Q 2023). Revenue: NT$1.47m (down 11% from 3Q 2023). Net income: NT$5.62m (up NT$9.43m from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. 공시 • Oct 25
Sunfon Construction Co., Ltd. to Report Q3, 2024 Results on Nov 05, 2024 Sunfon Construction Co., Ltd. announced that they will report Q3, 2024 results on Nov 05, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: NT$0.04 loss per share (vs NT$0.052 loss in 2Q 2023) Second quarter 2024 results: NT$0.04 loss per share (improved from NT$0.052 loss in 2Q 2023). Revenue: NT$1.42m (down 44% from 2Q 2023). Net loss: NT$8.47m (loss narrowed 22% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. 공시 • Jul 27
Sunfon Construction Co., Ltd. to Report Q2, 2024 Results on Aug 06, 2024 Sunfon Construction Co., Ltd. announced that they will report Q2, 2024 results on Aug 06, 2024 Reported Earnings • May 19
First quarter 2024 earnings released: NT$0.05 loss per share (vs NT$0.071 loss in 1Q 2023) First quarter 2024 results: NT$0.05 loss per share (improved from NT$0.071 loss in 1Q 2023). Revenue: NT$1.45m (down 12% from 1Q 2023). Net loss: NT$10.4m (loss narrowed 30% from 1Q 2023). 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 • May 01
Sunfon Construction Co., Ltd. to Report Q1, 2024 Results on May 07, 2024 Sunfon Construction Co., Ltd. announced that they will report Q1, 2024 results on May 07, 2024 New Risk • Apr 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.7% 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: Major Risk Earnings have declined by 52% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.7% average weekly change). Reported Earnings • Mar 12
Full year 2023 earnings released: EPS: NT$0.14 (vs NT$0.067 loss in FY 2022) Full year 2023 results: EPS: NT$0.14 (up from NT$0.067 loss in FY 2022). Revenue: NT$478.5m (up NT$471.5m from FY 2022). Net income: NT$28.9m (up NT$42.8m from FY 2022). Profit margin: 6.0% (up from net loss in FY 2022). 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 126 percentage points per year, which is a significant difference in performance. 공시 • Mar 06
Sunfon Construction Co., Ltd., Annual General Meeting, May 23, 2024 Sunfon Construction Co., Ltd., Annual General Meeting, May 23, 2024. Location: PRIMASIA CONFERENCE & BUSINESS CENTER 2F,No.99,Fuxing N.Rd, Songshan Dist Tapei City Taiwan Agenda: To consider the report the business of 2023; to consider the statutory Auditor’s review of 2023 audited financial statements; to consider the annual Report on Remuneration Distribution for Employees, Directors; to consider the 2023 Annual Business Report and Financial Statement Recognition; to consider the 2023 Annual Surplus Distribution Proposal; to consider the Convert surplus to capital increase and issue new shares; to Amend the Articles of Association; to revise the rules of procedure of shareholders’s meeting; to consider the election of directors; and to consider other matters. 공시 • Aug 10
Sunfon Construction Co., Ltd. Announces Change of Representative Sunfon Construction Co., Ltd. announced that the legal person director of the company Don Tai Development Co.,Ltd. reassigned a representative. Name of the previous position holder: HUNG,MIN-FU. Resume of the previous position holder: Chairman of Sunfon Construction Co., Ltd. Name of the new position holder: Hung Ping Yao. Resume of the new position holder: Chairman of Golden Plaza Cultural --Education Foundation. Reason for the change: Legal person director reassigns representative. Effective August 8, 2023. Reported Earnings • Aug 10
Second quarter 2023 earnings released: NT$0.05 loss per share (vs NT$0.03 loss in 2Q 2022) Second quarter 2023 results: NT$0.05 loss per share (further deteriorated from NT$0.03 loss in 2Q 2022). Net loss: NT$10.8m (loss widened 76% from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 136 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 16
Full year 2022 earnings released: NT$0.07 loss per share (vs NT$0.035 loss in FY 2021) Full year 2022 results: NT$0.07 loss per share (further deteriorated from NT$0.035 loss in FY 2021). Net loss: NT$13.9m (loss widened 89% from FY 2021). 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. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Non-Independent Director Tsung-Jen Chen was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 11
Third quarter 2022 earnings released: EPS: NT$0.09 (vs NT$0.14 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.09 (down from NT$0.14 in 3Q 2021). Net income: NT$18.4m (down 34% from 3Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 5 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Tse-Jen Huang was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 09
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: NT$0.04 loss per share (down from NT$1.03 profit in FY 2020). Net loss: NT$7.36m (down 104% from profit in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. 공시 • Feb 09
Sunfon Construction Co., Ltd. Announces Resignation of Hung Minfu as CEO Sunfon Construction Co., Ltd. Announced resignation of Mr. Hung Minfu as CEO, Effective date January 13, 2022. Upcoming Dividend • Aug 18
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 25 August 2021. Payment date: 17 September 2021. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (4.9%). Reported Earnings • Aug 12
Second quarter 2021 earnings released: NT$0.06 loss per share (vs NT$0.81 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: NT$1.39m (down 100% from 2Q 2020). Net loss: NT$11.3m (down 108% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 14
First quarter 2021 earnings released: NT$0.06 loss per share (vs NT$0.039 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: NT$1.47m (down 80% from 1Q 2020). Net loss: NT$11.3m (loss widened 55% from 1Q 2020). 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 21% per year, which means it is significantly lagging earnings growth. 공시 • Mar 10
Sunfon Construction Co., Ltd., Annual General Meeting, May 27, 2021 Sunfon Construction Co., Ltd., Annual General Meeting, May 27, 2021. Reported Earnings • Mar 10
Full year 2020 earnings released: EPS NT$1.10 (vs NT$1.82 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: NT$666.8m (down 49% from FY 2019). Net income: NT$204.6m (down 40% from FY 2019). Profit margin: 31% (up from 26% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Dec 01
New 90-day high: NT$19.30 The company is up 1.0% from its price of NT$19.20 on 02 September 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 5.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.37 The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2020 results: Revenue: NT$133.6m (down 75% from 3Q 2019). Net income: NT$69.3m (down 62% from 3Q 2019). Profit margin: 52% (up from 35% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Oct 14
New 90-day low: NT$18.00 The company is down 2.0% from its price of NT$18.40 on 16 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 3.0% over the same period.