Shin Ruenn development (6186) 주식 개요신루엔 개발 유한회사는 대만에서 부동산을 개발, 거래, 임대 및 판매하는 업체입니다. 자세히 보기6186 펀더멘털 분석스노우플레이크 점수가치 평가4/6미래 성장0/6과거 실적4/6재무 건전성5/6배당5/6강점공정 가치 추정치보다 낮은 88.8% 에서 거래지난 1년간 수익이 30.7% 증가했습니다.위험 분석불안정한 배당 실적부채비율이 높네요모든 위험 점검 보기6186 Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.NEW486,100 membersJoin community and earn perksGain real feedbackFrom our editorial team, personally. Not silence.Grow your followingReal investors. The kind who actually invest, not scroll past.Unlock free accessFree premium subscription for consistent and quality authors.Learn moreCreate NarrativeBLINRODA486,100 investors already sharing narrativesYour Fair ValueNT$Current PriceNT$34.6063.3% 저평가 내재 할인율Growth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-46m45b2016201920222025202620282031Revenue NT$44.8bEarnings NT$6.7bAdvancedSet Fair ValueView all narrativesShin Ruenn development Co., LTD 경쟁사Kuo Yang ConstructionSymbol: TWSE:2505Market cap: NT$6.9bHong Pu Real Estate DevelopmentSymbol: TWSE:2536Market cap: NT$7.0bFu Yu PropertySymbol: TPEX:4907Market cap: NT$5.3bSan Far PropertySymbol: TWSE:9946Market cap: NT$5.9b가격 이력 및 성과Shin Ruenn development 주가의 최고가, 최저가 및 변동 요약과거 주가현재 주가NT$34.6052주 최고가NT$69.3052주 최저가NT$35.35베타0.121개월 변동-18.68%3개월 변동-12.52%1년 변동-42.76%3년 변동-7.67%5년 변동66.24%IPO 이후 변동-71.30%최근 뉴스 및 업데이트Valuation Update With 7 Day Price Move • Aug 11Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to NT$35.40, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 14x in the Real Estate industry in Taiwan. Total returns to shareholders of 16% over the past three years.Upcoming Dividend • Jul 30Upcoming dividend of NT$5.01 per shareEligible shareholders must have bought the stock before 06 August 2026. Payment date: 31 August 2026. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 12%. Within top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (5.5%).New Risk • Jun 02New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 86% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (86% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Reported Earnings • May 19First quarter 2026 earnings released: EPS: NT$2.09 (vs NT$1.85 in 1Q 2025)First quarter 2026 results: EPS: NT$2.09 (up from NT$1.85 in 1Q 2025). Revenue: NT$3.34b (up 49% from 1Q 2025). Net income: NT$407.9m (up 13% from 1Q 2025). Profit margin: 12% (down from 16% 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 53% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.New Risk • Mar 12New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 129% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (129% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Reported Earnings • Mar 11Full year 2025 earnings released: EPS: NT$7.81 (vs NT$4.98 in FY 2024)Full year 2025 results: EPS: NT$7.81 (up from NT$4.98 in FY 2024). Revenue: NT$9.45b (up 3.7% from FY 2024). Net income: NT$1.52b (up 57% from FY 2024). Profit margin: 16% (up from 11% in FY 2024). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.더 많은 업데이트 보기Recent updatesValuation Update With 7 Day Price Move • Aug 11Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to NT$35.40, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 14x in the Real Estate industry in Taiwan. Total returns to shareholders of 16% over the past three years.Upcoming Dividend • Jul 30Upcoming dividend of NT$5.01 per shareEligible shareholders must have bought the stock before 06 August 2026. Payment date: 31 August 2026. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 12%. Within top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (5.5%).New Risk • Jun 02New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 86% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (86% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Reported Earnings • May 19First quarter 2026 earnings released: EPS: NT$2.09 (vs NT$1.85 in 1Q 2025)First quarter 2026 results: EPS: NT$2.09 (up from NT$1.85 in 1Q 2025). Revenue: NT$3.34b (up 49% from 1Q 2025). Net income: NT$407.9m (up 13% from 1Q 2025). Profit margin: 12% (down from 16% 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 53% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.New Risk • Mar 12New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 129% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (129% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Reported Earnings • Mar 11Full year 2025 earnings released: EPS: NT$7.81 (vs NT$4.98 in FY 2024)Full year 2025 results: EPS: NT$7.81 (up from NT$4.98 in FY 2024). Revenue: NT$9.45b (up 3.7% from FY 2024). Net income: NT$1.52b (up 57% from FY 2024). Profit margin: 16% (up from 11% in FY 2024). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.공고 • Mar 10Shin Ruenn development Co., LTD, Annual General Meeting, Jun 23, 2026Shin Ruenn development Co., LTD, Annual General Meeting, Jun 23, 2026, at 09:30 Taipei Standard Time. Location: 2 floor no,6, sec.3 min sheng e. rd., taipei city TaiwanNew Risk • Nov 18New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 117% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (117% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Reported Earnings • Nov 12Third quarter 2025 earnings released: EPS: NT$2.56 (vs NT$0.15 in 3Q 2024)Third quarter 2025 results: EPS: NT$2.56 (up from NT$0.15 in 3Q 2024). Revenue: NT$3.22b (up 145% from 3Q 2024). Net income: NT$499.1m (up NT$469.9m from 3Q 2024). Profit margin: 16% (up from 2.2% in 3Q 2024). The increase in margin was driven by higher revenue. 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 39% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Aug 27Upcoming dividend of NT$1.52 per shareEligible shareholders must have bought the stock before 03 September 2025. Payment date: 25 September 2025. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (4.5%).Reported Earnings • Aug 15Second quarter 2025 earnings released: EPS: NT$3.56 (vs NT$1.21 in 2Q 2024)Second quarter 2025 results: EPS: NT$3.56 (up from NT$1.21 in 2Q 2024). Revenue: NT$3.67b (up 56% from 2Q 2024). Net income: NT$613.3m (up 193% from 2Q 2024). Profit margin: 17% (up from 8.9% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth.Declared Dividend • Aug 13Dividend of NT$1.52 announcedShareholders will receive a dividend of NT$1.52. Ex-date: 3rd September 2025 Payment date: 25th September 2025 Dividend yield will be 2.2%, which is lower than the industry average of 3.7%. Sustainability & Growth Dividend is well covered by both earnings (44% earnings payout ratio) and cash flows (10% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 8.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Board Change • Jul 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 8 highly experienced directors. Independent Director Chun-Yi Lin was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.New Risk • May 22New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 212% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (212% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Reported Earnings • May 15First quarter 2025 earnings released: EPS: NT$2.09 (vs NT$0.76 in 1Q 2024)First quarter 2025 results: EPS: NT$2.09 (up from NT$0.76 in 1Q 2024). Revenue: NT$2.25b (up 132% from 1Q 2024). Net income: NT$360.3m (up 177% from 1Q 2024). Profit margin: 16% (up from 14% in 1Q 2024). The increase in margin was driven by higher revenue. 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 36% per year, which means it is significantly lagging earnings growth.공고 • May 06Shin Ruenn development Co., LTD to Report Q1, 2025 Results on May 12, 2025Shin Ruenn development Co., LTD announced that they will report Q1, 2025 results on May 12, 2025Valuation Update With 7 Day Price Move • Apr 09Investor sentiment deteriorates as stock falls 24%After last week's 24% share price decline to NT$51.80, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 11x in the Real Estate industry in Taiwan. Total returns to shareholders of 161% over the past three years.Reported Earnings • Mar 20Full year 2024 earnings released: EPS: NT$5.63 (vs NT$2.58 in FY 2023)Full year 2024 results: EPS: NT$5.63 (up from NT$2.58 in FY 2023). Revenue: NT$9.12b (up 149% from FY 2023). Net income: NT$971.2m (up 118% from FY 2023). Profit margin: 11% (down from 12% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth.공고 • Mar 14Shin Ruenn development Co., LTD, Annual General Meeting, Jun 30, 2025Shin Ruenn development Co., LTD, Annual General Meeting, Jun 30, 2025. Location: 2 floor no,6, sec.3 min sheng e. rd., taipei city Taiwan공고 • Mar 06Shin Ruenn development Co., LTD to Report Fiscal Year 2024 Results on Mar 13, 2025Shin Ruenn development Co., LTD announced that they will report fiscal year 2024 results on Mar 13, 2025New Risk • Jan 12New 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 Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.New Risk • Nov 17New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 9.4% Last year net profit margin: 16% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (15% operating cash flow to total debt). 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 (7.4% average weekly change). Profit margins are more than 30% lower than last year (9.4% net profit margin).Reported Earnings • Nov 17Third quarter 2024 earnings released: EPS: NT$0.17 (vs NT$0.46 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.17 (down from NT$0.46 in 3Q 2023). Revenue: NT$1.31b (up 156% from 3Q 2023). Net income: NT$29.1m (down 63% from 3Q 2023). Profit margin: 2.2% (down from 15% 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 30% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Sep 23Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$72.90, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 17x in the Real Estate industry in Taiwan. Total returns to shareholders of 263% over the past three years.Upcoming Dividend • Aug 29Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 05 September 2024. Payment date: 30 September 2024. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Taiwanese dividend payers (4.3%). Lower than average of industry peers (2.7%).Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: NT$1.39 (vs NT$0.10 in 2Q 2023)Second quarter 2024 results: EPS: NT$1.39 (up from NT$0.10 in 2Q 2023). Revenue: NT$2.35b (up NT$2.14b from 2Q 2023). Net income: NT$209.0m (up NT$194.0m from 2Q 2023). Profit margin: 8.9% (up from 7.1% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 66% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Aug 06Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to NT$91.20, the stock trades at a trailing P/E ratio of 25.3x. Average trailing P/E is 20x in the Real Estate industry in Taiwan. Total returns to shareholders of 309% over the past three years.공고 • Aug 06Shin Ruenn development Co., LTD to Report Q2, 2024 Results on Aug 13, 2024Shin Ruenn development Co., LTD announced that they will report Q2, 2024 results on Aug 13, 2024New Risk • Aug 05New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.8% 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 Debt is not well covered by operating cash flow (7.3% operating cash flow to total debt). 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 (6.8% average weekly change).Reported Earnings • May 19First quarter 2024 earnings released: EPS: NT$0.87 (vs NT$0.23 in 1Q 2023)First quarter 2024 results: EPS: NT$0.87 (up from NT$0.23 in 1Q 2023). Revenue: NT$968.4m (up 211% from 1Q 2023). Net income: NT$130.3m (up 270% from 1Q 2023). Profit margin: 14% (up from 11% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 53% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • May 06Investor sentiment improves as stock rises 20%After last week's 20% share price gain to NT$98.80, the stock trades at a trailing P/E ratio of 33.2x. Average trailing P/E is 25x in the Real Estate industry in Taiwan. Total returns to shareholders of 342% over the past three years.Valuation Update With 7 Day Price Move • Apr 22Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$79.00, the stock trades at a trailing P/E ratio of 26.6x. Average trailing P/E is 22x in the Real Estate industry in Taiwan. Total returns to shareholders of 251% over the past three years.Reported Earnings • Mar 22Full year 2023 earnings released: EPS: NT$2.97 (vs NT$2.24 in FY 2022)Full year 2023 results: EPS: NT$2.97 (up from NT$2.24 in FY 2022). Revenue: NT$3.66b (up 47% from FY 2022). Net income: NT$445.7m (up 36% from FY 2022). Profit margin: 12% (in line with FY 2022). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings.공고 • Mar 12Shin Ruenn development Co., LTD, Annual General Meeting, Jun 27, 2024Shin Ruenn development Co., LTD, Annual General Meeting, Jun 27, 2024. Location: 2F, No. 6, Sec. 3, Minsheng E. Rd. Taipei Taiwan Agenda: To consider Business Report of the year 2023; to consider Audit Committee's Review Report of the year 2023; to consider Audit report on the Company's 2023 financial statements issued by the Audi Committee; to consider report on the distribution of 2023 employee and director remuneration; to consider reasons for fundraising by issuing the first secured ordinary corporate bonds in 2023 and report on relevant matters; to consider earnings distribution for 2023; and to consider other matters.Upcoming Dividend • Sep 19Upcoming dividend of NT$2.20 per share at 4.2% yieldEligible shareholders must have bought the stock before 26 September 2023. Payment date: 20 October 2023. Payout ratio is a comfortable 72% but the company is not cash flow positive. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (5.4%). In line with average of industry peers (4.1%).Reported Earnings • Aug 17Second quarter 2023 earnings released: EPS: NT$0.10 (vs NT$0.30 loss in 2Q 2022)Second quarter 2023 results: EPS: NT$0.10 (up from NT$0.30 loss in 2Q 2022). Revenue: NT$212.4m (up NT$211.1m from 2Q 2022). Net income: NT$15.0m (up NT$60.3m from 2Q 2022). Profit margin: 7.1% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings.Reported Earnings • Mar 30Full year 2022 earnings released: EPS: NT$2.24 (vs NT$3.08 in FY 2021)Full year 2022 results: EPS: NT$2.24 (down from NT$3.08 in FY 2021). Revenue: NT$2.49b (down 37% from FY 2021). Net income: NT$327.2m (down 22% from FY 2021). Profit margin: 13% (up from 11% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings.Reported Earnings • Nov 16Third quarter 2022 earnings released: NT$0.15 loss per share (vs NT$0.12 loss in 3Q 2021)Third quarter 2022 results: NT$0.15 loss per share (further deteriorated from NT$0.12 loss in 3Q 2021). Net loss: NT$22.8m (loss widened 42% from 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.Board Change • Nov 16Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 10 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Ruey-Fu Hou was the last independent director to join the board, commencing their role in 2011. 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 • Nov 13Third quarter 2022 earnings released: NT$0.15 loss per share (vs NT$0.12 loss in 3Q 2021)Third quarter 2022 results: NT$0.15 loss per share (further deteriorated from NT$0.12 loss in 3Q 2021). Net loss: NT$22.8m (loss widened 42% from 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Oct 18Upcoming dividend of NT$3.00 per shareEligible shareholders must have bought the stock before 25 October 2022. Payment date: 16 November 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 10%. Within top quartile of Taiwanese dividend payers (7.2%). Higher than average of industry peers (6.6%).Reported Earnings • Aug 16Second quarter 2022 earnings released: NT$0.30 loss per share (vs NT$1.49 profit in 2Q 2021)Second quarter 2022 results: NT$0.30 loss per share (down from NT$1.49 profit in 2Q 2021). Net loss: NT$45.3m (down 122% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.Reported Earnings • May 17First quarter 2022 earnings released: NT$0.24 loss per share (vs NT$1.79 profit in 1Q 2021)First quarter 2022 results: NT$0.24 loss per share (down from NT$1.79 profit in 1Q 2021). Revenue: NT$1.51m (down 100% from 1Q 2021). Net loss: NT$32.7m (down 113% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 10 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Ruey-Fu Hou was the last independent director to join the board, commencing their role in 2011. 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 28Full year 2021 earnings released: EPS: NT$3.08 (vs NT$3.28 in FY 2020)Full year 2021 results: EPS: NT$3.08. Revenue: NT$3.98b (up 39% from FY 2020). Net income: NT$420.3m (up 10% from FY 2020). Profit margin: 11% (down from 13% in FY 2020). The decrease in margin was driven by higher expenses.Reported Earnings • Nov 15Third quarter 2021 earnings released: NT$0.12 loss per share (vs NT$0.18 profit in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: NT$74.2m (down 19% from 3Q 2020). Net loss: NT$16.1m (down 181% from profit in 3Q 2020). 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 20% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Sep 29Upcoming dividend of NT$1.25 per shareEligible shareholders must have bought the stock before 06 October 2021. Payment date: 28 October 2021. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (5.2%). In line with average of industry peers (4.5%).Reported Earnings • Aug 15Second quarter 2021 earnings released: EPS NT$1.57 (vs NT$0.21 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.95b (up NT$1.67b from 2Q 2020). Net income: NT$203.9m (up NT$183.4m from 2Q 2020). Profit margin: 11% (up from 7.5% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.분석 기사 • Apr 17Is Shin Ruenn development Co., LTD (GTSM:6186) A Strong Dividend Stock?Is Shin Ruenn development Co., LTD ( GTSM:6186 ) a good dividend stock? How can we tell? Dividend paying companies with...Reported Earnings • Mar 27Full year 2020 earnings released: EPS NT$3.45 (vs NT$4.21 in FY 2019)The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: NT$2.86b (up 2.3% from FY 2019). Net income: NT$381.4m (down 9.4% from FY 2019). Profit margin: 13% (down from 15% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth.공고 • Mar 18Shin Ruenn development Co., LTD, Annual General Meeting, Jun 01, 2021Shin Ruenn development Co., LTD, Annual General Meeting, Jun 01, 2021.Is New 90 Day High Low • Feb 09New 90-day low: NT$27.35The company is down 3.0% from its price of NT$28.15 on 11 November 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is flat over the same period.분석 기사 • Jan 18Estimating The Fair Value Of Shin Ruenn development Co., LTD (GTSM:6186)How far off is Shin Ruenn development Co., LTD ( GTSM:6186 ) from its intrinsic value? Using the most recent financial...분석 기사 • Dec 21Why Shin Ruenn development Co., LTD (GTSM:6186) Looks Like A Quality CompanyMany investors are still learning about the various metrics that can be useful when analysing a stock. This article is...분석 기사 • Nov 29Shin Ruenn development (GTSM:6186) Has Gifted Shareholders With A Fantastic 132% Total Return On Their InvestmentBy buying an index fund, investors can approximate the average market return. But many of us dare to dream of bigger...Is New 90 Day High Low • Nov 25New 90-day high: NT$29.10The company is up 4.0% from its price of NT$27.85 on 27 August 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is up 2.0% over the same period.Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS NT$0.19The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$91.6m (up 131% from 3Q 2019). Net income: NT$19.8m (up NT$73.9m from 3Q 2019). Profit margin: 22% (up from net loss in 3Q 2019). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 125% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.공고 • Aug 22Shin Ruenn development Co., LTD has completed a Follow-on Equity Offering in the amount of TWD 62.475 million.Shin Ruenn development Co., LTD has completed a Follow-on Equity Offering in the amount of TWD 62.475 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 2,550,000 Price\Range: TWD 24.5 Transaction Features: Subsequent Direct Listing주주 수익률6186TW Real EstateTW 시장7D-18.5%-1.4%4.0%1Y-42.8%-11.6%84.6%전체 주주 수익률 보기수익률 대 산업: 6186은 지난 1년 동안 -11.6%의 수익을 기록한 TW Real Estate 산업보다 저조한 성과를 냈습니다.수익률 대 시장: 6186은 지난 1년 동안 84.6%를 기록한 TW 시장보다 저조한 성과를 냈습니다.주가 변동성Is 6186's price volatile compared to industry and market?6186 volatility6186 Average Weekly Movement5.2%Real Estate Industry Average Movement4.1%Market Average Movement6.5%10% most volatile stocks in TW Market12.1%10% least volatile stocks in TW Market2.7%안정적인 주가: 6186는 지난 3개월 동안 TW 시장에 비해 주가 변동성이 크지 않았습니다.시간에 따른 변동성: 6186의 주간 변동성(5%)은 지난 1년 동안 안정적이었습니다.회사 소개설립직원 수CEO웹사이트198749Chang Geng Guowww.shinruenn.com신루엔 개발은 대만에서 부동산을 개발, 거래, 임대 및 판매하는 회사입니다. 이 회사는 주거용, 빌딩 및 기타 부동산을 개발합니다. 이 회사는 이전에 Jinglay, Inc.로 알려졌으며 2011년 7월에 신루엔 개발 유한회사로 사명을 변경했습니다.더 보기Shin Ruenn development Co., LTD 기초 지표 요약Shin Ruenn development의 순이익과 매출은 시가총액과 어떻게 비교됩니까?6186 기초 통계시가총액NT$6.90b순이익 (TTM)NT$1.57b매출 (TTM)NT$10.55b4.3x주가수익비율(P/E)0.6x주가매출비율(P/S)6186는 고평가되어 있습니까?공정 가치 및 평가 분석 보기순이익 및 매출최근 실적 보고서(TTM)의 주요 수익성 지표6186 손익계산서 (TTM)매출NT$10.55b매출원가NT$7.71b총이익NT$2.83b기타 비용NT$1.26b순이익NT$1.57b최근 보고된 실적Mar 31, 2026다음 실적 발표일해당 없음주당순이익(EPS)8.06총이익률26.87%순이익률14.89%부채/자본 비율119.6%6186의 장기 실적은 어땠습니까?과거 실적 및 비교 보기배당14.5%현재 배당 수익률62%배당 성향6186는 안정적으로 배당을 지급합니까?6186 배당 기록 및 벤치마크 보기다가오는 배당을 받으려면 언제까지 6186를 매수해야 하나요?Shin Ruenn development 배당 일정배당락일Aug 06 2026배당 지급일Aug 31 2026배당락일까지 남은 일수7 days배당 지급일까지 남은 일수18 days6186는 안정적으로 배당을 지급합니까?6186 배당 기록 및 벤치마크 보기View Valuation기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/08/12 12:57종가2026/08/12 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델의 세부 정보는 당사의 GitHub 페이지에서 확인하실 수 있습니다. 또한 보고서 사용 방법에 대한 가이드와 YouTube 튜토리얼도 제공하고 있습니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Shin Ruenn development Co., LTD는 0명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.
Valuation Update With 7 Day Price Move • Aug 11Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to NT$35.40, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 14x in the Real Estate industry in Taiwan. Total returns to shareholders of 16% over the past three years.
Upcoming Dividend • Jul 30Upcoming dividend of NT$5.01 per shareEligible shareholders must have bought the stock before 06 August 2026. Payment date: 31 August 2026. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 12%. Within top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (5.5%).
New Risk • Jun 02New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 86% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (86% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Reported Earnings • May 19First quarter 2026 earnings released: EPS: NT$2.09 (vs NT$1.85 in 1Q 2025)First quarter 2026 results: EPS: NT$2.09 (up from NT$1.85 in 1Q 2025). Revenue: NT$3.34b (up 49% from 1Q 2025). Net income: NT$407.9m (up 13% from 1Q 2025). Profit margin: 12% (down from 16% 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 53% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.
New Risk • Mar 12New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 129% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (129% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Reported Earnings • Mar 11Full year 2025 earnings released: EPS: NT$7.81 (vs NT$4.98 in FY 2024)Full year 2025 results: EPS: NT$7.81 (up from NT$4.98 in FY 2024). Revenue: NT$9.45b (up 3.7% from FY 2024). Net income: NT$1.52b (up 57% from FY 2024). Profit margin: 16% (up from 11% in FY 2024). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Aug 11Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to NT$35.40, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 14x in the Real Estate industry in Taiwan. Total returns to shareholders of 16% over the past three years.
Upcoming Dividend • Jul 30Upcoming dividend of NT$5.01 per shareEligible shareholders must have bought the stock before 06 August 2026. Payment date: 31 August 2026. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 12%. Within top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (5.5%).
New Risk • Jun 02New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 86% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (86% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Reported Earnings • May 19First quarter 2026 earnings released: EPS: NT$2.09 (vs NT$1.85 in 1Q 2025)First quarter 2026 results: EPS: NT$2.09 (up from NT$1.85 in 1Q 2025). Revenue: NT$3.34b (up 49% from 1Q 2025). Net income: NT$407.9m (up 13% from 1Q 2025). Profit margin: 12% (down from 16% 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 53% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.
New Risk • Mar 12New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 129% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (129% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Reported Earnings • Mar 11Full year 2025 earnings released: EPS: NT$7.81 (vs NT$4.98 in FY 2024)Full year 2025 results: EPS: NT$7.81 (up from NT$4.98 in FY 2024). Revenue: NT$9.45b (up 3.7% from FY 2024). Net income: NT$1.52b (up 57% from FY 2024). Profit margin: 16% (up from 11% in FY 2024). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
공고 • Mar 10Shin Ruenn development Co., LTD, Annual General Meeting, Jun 23, 2026Shin Ruenn development Co., LTD, Annual General Meeting, Jun 23, 2026, at 09:30 Taipei Standard Time. Location: 2 floor no,6, sec.3 min sheng e. rd., taipei city Taiwan
New Risk • Nov 18New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 117% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (117% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Reported Earnings • Nov 12Third quarter 2025 earnings released: EPS: NT$2.56 (vs NT$0.15 in 3Q 2024)Third quarter 2025 results: EPS: NT$2.56 (up from NT$0.15 in 3Q 2024). Revenue: NT$3.22b (up 145% from 3Q 2024). Net income: NT$499.1m (up NT$469.9m from 3Q 2024). Profit margin: 16% (up from 2.2% in 3Q 2024). The increase in margin was driven by higher revenue. 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 39% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Aug 27Upcoming dividend of NT$1.52 per shareEligible shareholders must have bought the stock before 03 September 2025. Payment date: 25 September 2025. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (4.5%).
Reported Earnings • Aug 15Second quarter 2025 earnings released: EPS: NT$3.56 (vs NT$1.21 in 2Q 2024)Second quarter 2025 results: EPS: NT$3.56 (up from NT$1.21 in 2Q 2024). Revenue: NT$3.67b (up 56% from 2Q 2024). Net income: NT$613.3m (up 193% from 2Q 2024). Profit margin: 17% (up from 8.9% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth.
Declared Dividend • Aug 13Dividend of NT$1.52 announcedShareholders will receive a dividend of NT$1.52. Ex-date: 3rd September 2025 Payment date: 25th September 2025 Dividend yield will be 2.2%, which is lower than the industry average of 3.7%. Sustainability & Growth Dividend is well covered by both earnings (44% earnings payout ratio) and cash flows (10% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 8.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Board Change • Jul 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 8 highly experienced directors. Independent Director Chun-Yi Lin was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.
New Risk • May 22New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 212% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (212% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Reported Earnings • May 15First quarter 2025 earnings released: EPS: NT$2.09 (vs NT$0.76 in 1Q 2024)First quarter 2025 results: EPS: NT$2.09 (up from NT$0.76 in 1Q 2024). Revenue: NT$2.25b (up 132% from 1Q 2024). Net income: NT$360.3m (up 177% from 1Q 2024). Profit margin: 16% (up from 14% in 1Q 2024). The increase in margin was driven by higher revenue. 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 36% per year, which means it is significantly lagging earnings growth.
공고 • May 06Shin Ruenn development Co., LTD to Report Q1, 2025 Results on May 12, 2025Shin Ruenn development Co., LTD announced that they will report Q1, 2025 results on May 12, 2025
Valuation Update With 7 Day Price Move • Apr 09Investor sentiment deteriorates as stock falls 24%After last week's 24% share price decline to NT$51.80, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 11x in the Real Estate industry in Taiwan. Total returns to shareholders of 161% over the past three years.
Reported Earnings • Mar 20Full year 2024 earnings released: EPS: NT$5.63 (vs NT$2.58 in FY 2023)Full year 2024 results: EPS: NT$5.63 (up from NT$2.58 in FY 2023). Revenue: NT$9.12b (up 149% from FY 2023). Net income: NT$971.2m (up 118% from FY 2023). Profit margin: 11% (down from 12% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth.
공고 • Mar 14Shin Ruenn development Co., LTD, Annual General Meeting, Jun 30, 2025Shin Ruenn development Co., LTD, Annual General Meeting, Jun 30, 2025. Location: 2 floor no,6, sec.3 min sheng e. rd., taipei city Taiwan
공고 • Mar 06Shin Ruenn development Co., LTD to Report Fiscal Year 2024 Results on Mar 13, 2025Shin Ruenn development Co., LTD announced that they will report fiscal year 2024 results on Mar 13, 2025
New Risk • Jan 12New 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 Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
New Risk • Nov 17New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 9.4% Last year net profit margin: 16% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (15% operating cash flow to total debt). 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 (7.4% average weekly change). Profit margins are more than 30% lower than last year (9.4% net profit margin).
Reported Earnings • Nov 17Third quarter 2024 earnings released: EPS: NT$0.17 (vs NT$0.46 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.17 (down from NT$0.46 in 3Q 2023). Revenue: NT$1.31b (up 156% from 3Q 2023). Net income: NT$29.1m (down 63% from 3Q 2023). Profit margin: 2.2% (down from 15% 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 30% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Sep 23Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$72.90, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 17x in the Real Estate industry in Taiwan. Total returns to shareholders of 263% over the past three years.
Upcoming Dividend • Aug 29Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 05 September 2024. Payment date: 30 September 2024. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Taiwanese dividend payers (4.3%). Lower than average of industry peers (2.7%).
Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: NT$1.39 (vs NT$0.10 in 2Q 2023)Second quarter 2024 results: EPS: NT$1.39 (up from NT$0.10 in 2Q 2023). Revenue: NT$2.35b (up NT$2.14b from 2Q 2023). Net income: NT$209.0m (up NT$194.0m from 2Q 2023). Profit margin: 8.9% (up from 7.1% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 66% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Aug 06Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to NT$91.20, the stock trades at a trailing P/E ratio of 25.3x. Average trailing P/E is 20x in the Real Estate industry in Taiwan. Total returns to shareholders of 309% over the past three years.
공고 • Aug 06Shin Ruenn development Co., LTD to Report Q2, 2024 Results on Aug 13, 2024Shin Ruenn development Co., LTD announced that they will report Q2, 2024 results on Aug 13, 2024
New Risk • Aug 05New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.8% 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 Debt is not well covered by operating cash flow (7.3% operating cash flow to total debt). 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 (6.8% average weekly change).
Reported Earnings • May 19First quarter 2024 earnings released: EPS: NT$0.87 (vs NT$0.23 in 1Q 2023)First quarter 2024 results: EPS: NT$0.87 (up from NT$0.23 in 1Q 2023). Revenue: NT$968.4m (up 211% from 1Q 2023). Net income: NT$130.3m (up 270% from 1Q 2023). Profit margin: 14% (up from 11% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 53% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • May 06Investor sentiment improves as stock rises 20%After last week's 20% share price gain to NT$98.80, the stock trades at a trailing P/E ratio of 33.2x. Average trailing P/E is 25x in the Real Estate industry in Taiwan. Total returns to shareholders of 342% over the past three years.
Valuation Update With 7 Day Price Move • Apr 22Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$79.00, the stock trades at a trailing P/E ratio of 26.6x. Average trailing P/E is 22x in the Real Estate industry in Taiwan. Total returns to shareholders of 251% over the past three years.
Reported Earnings • Mar 22Full year 2023 earnings released: EPS: NT$2.97 (vs NT$2.24 in FY 2022)Full year 2023 results: EPS: NT$2.97 (up from NT$2.24 in FY 2022). Revenue: NT$3.66b (up 47% from FY 2022). Net income: NT$445.7m (up 36% from FY 2022). Profit margin: 12% (in line with FY 2022). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings.
공고 • Mar 12Shin Ruenn development Co., LTD, Annual General Meeting, Jun 27, 2024Shin Ruenn development Co., LTD, Annual General Meeting, Jun 27, 2024. Location: 2F, No. 6, Sec. 3, Minsheng E. Rd. Taipei Taiwan Agenda: To consider Business Report of the year 2023; to consider Audit Committee's Review Report of the year 2023; to consider Audit report on the Company's 2023 financial statements issued by the Audi Committee; to consider report on the distribution of 2023 employee and director remuneration; to consider reasons for fundraising by issuing the first secured ordinary corporate bonds in 2023 and report on relevant matters; to consider earnings distribution for 2023; and to consider other matters.
Upcoming Dividend • Sep 19Upcoming dividend of NT$2.20 per share at 4.2% yieldEligible shareholders must have bought the stock before 26 September 2023. Payment date: 20 October 2023. Payout ratio is a comfortable 72% but the company is not cash flow positive. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (5.4%). In line with average of industry peers (4.1%).
Reported Earnings • Aug 17Second quarter 2023 earnings released: EPS: NT$0.10 (vs NT$0.30 loss in 2Q 2022)Second quarter 2023 results: EPS: NT$0.10 (up from NT$0.30 loss in 2Q 2022). Revenue: NT$212.4m (up NT$211.1m from 2Q 2022). Net income: NT$15.0m (up NT$60.3m from 2Q 2022). Profit margin: 7.1% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings.
Reported Earnings • Mar 30Full year 2022 earnings released: EPS: NT$2.24 (vs NT$3.08 in FY 2021)Full year 2022 results: EPS: NT$2.24 (down from NT$3.08 in FY 2021). Revenue: NT$2.49b (down 37% from FY 2021). Net income: NT$327.2m (down 22% from FY 2021). Profit margin: 13% (up from 11% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings.
Reported Earnings • Nov 16Third quarter 2022 earnings released: NT$0.15 loss per share (vs NT$0.12 loss in 3Q 2021)Third quarter 2022 results: NT$0.15 loss per share (further deteriorated from NT$0.12 loss in 3Q 2021). Net loss: NT$22.8m (loss widened 42% from 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.
Board Change • Nov 16Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 10 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Ruey-Fu Hou was the last independent director to join the board, commencing their role in 2011. 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 • Nov 13Third quarter 2022 earnings released: NT$0.15 loss per share (vs NT$0.12 loss in 3Q 2021)Third quarter 2022 results: NT$0.15 loss per share (further deteriorated from NT$0.12 loss in 3Q 2021). Net loss: NT$22.8m (loss widened 42% from 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Oct 18Upcoming dividend of NT$3.00 per shareEligible shareholders must have bought the stock before 25 October 2022. Payment date: 16 November 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 10%. Within top quartile of Taiwanese dividend payers (7.2%). Higher than average of industry peers (6.6%).
Reported Earnings • Aug 16Second quarter 2022 earnings released: NT$0.30 loss per share (vs NT$1.49 profit in 2Q 2021)Second quarter 2022 results: NT$0.30 loss per share (down from NT$1.49 profit in 2Q 2021). Net loss: NT$45.3m (down 122% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.
Reported Earnings • May 17First quarter 2022 earnings released: NT$0.24 loss per share (vs NT$1.79 profit in 1Q 2021)First quarter 2022 results: NT$0.24 loss per share (down from NT$1.79 profit in 1Q 2021). Revenue: NT$1.51m (down 100% from 1Q 2021). Net loss: NT$32.7m (down 113% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 10 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Ruey-Fu Hou was the last independent director to join the board, commencing their role in 2011. 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 28Full year 2021 earnings released: EPS: NT$3.08 (vs NT$3.28 in FY 2020)Full year 2021 results: EPS: NT$3.08. Revenue: NT$3.98b (up 39% from FY 2020). Net income: NT$420.3m (up 10% from FY 2020). Profit margin: 11% (down from 13% in FY 2020). The decrease in margin was driven by higher expenses.
Reported Earnings • Nov 15Third quarter 2021 earnings released: NT$0.12 loss per share (vs NT$0.18 profit in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: NT$74.2m (down 19% from 3Q 2020). Net loss: NT$16.1m (down 181% from profit in 3Q 2020). 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 20% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Sep 29Upcoming dividend of NT$1.25 per shareEligible shareholders must have bought the stock before 06 October 2021. Payment date: 28 October 2021. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (5.2%). In line with average of industry peers (4.5%).
Reported Earnings • Aug 15Second quarter 2021 earnings released: EPS NT$1.57 (vs NT$0.21 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.95b (up NT$1.67b from 2Q 2020). Net income: NT$203.9m (up NT$183.4m from 2Q 2020). Profit margin: 11% (up from 7.5% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.
분석 기사 • Apr 17Is Shin Ruenn development Co., LTD (GTSM:6186) A Strong Dividend Stock?Is Shin Ruenn development Co., LTD ( GTSM:6186 ) a good dividend stock? How can we tell? Dividend paying companies with...
Reported Earnings • Mar 27Full year 2020 earnings released: EPS NT$3.45 (vs NT$4.21 in FY 2019)The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: NT$2.86b (up 2.3% from FY 2019). Net income: NT$381.4m (down 9.4% from FY 2019). Profit margin: 13% (down from 15% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth.
공고 • Mar 18Shin Ruenn development Co., LTD, Annual General Meeting, Jun 01, 2021Shin Ruenn development Co., LTD, Annual General Meeting, Jun 01, 2021.
Is New 90 Day High Low • Feb 09New 90-day low: NT$27.35The company is down 3.0% from its price of NT$28.15 on 11 November 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is flat over the same period.
분석 기사 • Jan 18Estimating The Fair Value Of Shin Ruenn development Co., LTD (GTSM:6186)How far off is Shin Ruenn development Co., LTD ( GTSM:6186 ) from its intrinsic value? Using the most recent financial...
분석 기사 • Dec 21Why Shin Ruenn development Co., LTD (GTSM:6186) Looks Like A Quality CompanyMany investors are still learning about the various metrics that can be useful when analysing a stock. This article is...
분석 기사 • Nov 29Shin Ruenn development (GTSM:6186) Has Gifted Shareholders With A Fantastic 132% Total Return On Their InvestmentBy buying an index fund, investors can approximate the average market return. But many of us dare to dream of bigger...
Is New 90 Day High Low • Nov 25New 90-day high: NT$29.10The company is up 4.0% from its price of NT$27.85 on 27 August 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is up 2.0% over the same period.
Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS NT$0.19The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$91.6m (up 131% from 3Q 2019). Net income: NT$19.8m (up NT$73.9m from 3Q 2019). Profit margin: 22% (up from net loss in 3Q 2019). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 125% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.
공고 • Aug 22Shin Ruenn development Co., LTD has completed a Follow-on Equity Offering in the amount of TWD 62.475 million.Shin Ruenn development Co., LTD has completed a Follow-on Equity Offering in the amount of TWD 62.475 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 2,550,000 Price\Range: TWD 24.5 Transaction Features: Subsequent Direct Listing
