View Financial HealthSong Shang ElectronicsLtd 배당 및 자사주 매입배당 기준 점검 0/6Song Shang ElectronicsLtd 은(는) 현재 수익률이 1.04% 인 배당금 지급 회사입니다.핵심 정보1.0%배당 수익률0%자사주 매입 수익률총 주주 수익률1.0%미래 배당 수익률n/a배당 성장률7.1%다음 배당 지급일n/a배당락일n/a주당 배당금n/a배당 성향-101%최근 배당 및 자사주 매입 업데이트Upcoming Dividend • Aug 07Upcoming dividend of NT$1.00 per shareEligible shareholders must have bought the stock before 14 August 2025. Payment date: 12 September 2025. Payout ratio is a comfortable 44% but the company is not cash flow positive. Trailing yield: 3.6%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.8%).Declared Dividend • Jul 21Dividend increased to NT$1.00Dividend of NT$1.00 is 25% higher than last year. Ex-date: 14th August 2025 Payment date: 12th September 2025 Dividend yield will be 3.5%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (44% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 15% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Upcoming Dividend • Aug 07Upcoming dividend of NT$0.80 per shareEligible shareholders must have bought the stock before 14 August 2024. Payment date: 10 September 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Taiwanese dividend payers (4.7%). Higher than average of industry peers (3.1%).Declared Dividend • Jul 19Dividend of NT$0.80 announcedDividend of NT$0.80 is the same as last year. Ex-date: 14th August 2024 Payment date: 10th September 2024 Dividend yield will be 3.1%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 14% per year over the past 8 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 59% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.8% EPS decline seen over the last 5 years.공시 • Jul 18Song Shang Electronics Co.,Ltd. Announces Dividend, Payable on September 10, 2024Song Shang Electronics Co.,Ltd. announced Cash dividends for common shares amount to TWD 77,407,084, with a distribution of TWD 0.8 per share. Ex-rights (Ex-dividend) date is August 14, 2024. Ex-rights (Ex-dividend) record date is August 44, 2024. Payment date of cash dividend distribution is September 10, 2024.Upcoming Dividend • Aug 03Upcoming dividend of NT$0.80 per share at 3.7% yieldEligible shareholders must have bought the stock before 10 August 2023. Payment date: 12 September 2023. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.2%).모든 업데이트 보기Recent updatesReported Earnings • May 20First quarter 2026 earnings released: NT$0.09 loss per share (vs NT$0.56 profit in 1Q 2025)First quarter 2026 results: NT$0.09 loss per share (down from NT$0.56 profit in 1Q 2025). Revenue: NT$1.39b (flat on 1Q 2025). Net loss: NT$9.88m (down 117% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.New Risk • May 20New major risk - Revenue and earnings growthEarnings have declined by 2.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.5% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$1.99b market cap, or US$62.8m).Reported Earnings • Mar 12Full year 2025 earnings released: EPS: NT$0.45 (vs NT$2.16 in FY 2024)Full year 2025 results: EPS: NT$0.45 (down from NT$2.16 in FY 2024). Revenue: NT$4.90b (up 14% from FY 2024). Net income: NT$48.2m (down 77% from FY 2024). Profit margin: 1.0% (down from 4.9% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.공시 • Mar 05Song Shang Electronics Co.,Ltd., Annual General Meeting, May 29, 2026Song Shang Electronics Co.,Ltd., Annual General Meeting, May 29, 2026. Location: r floor building. a no,99, chung ch`eng rd., tucheng district, new taipei city TaiwanReported Earnings • Nov 05Third quarter 2025 earnings released: EPS: NT$0.03 (vs NT$0.14 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.03 (down from NT$0.14 in 3Q 2024). Revenue: NT$1.09b (down 7.2% from 3Q 2024). Net income: NT$3.77m (down 73% from 3Q 2024). Profit margin: 0.3% (down from 1.2% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.Reported Earnings • Aug 14Second quarter 2025 earnings released: NT$0.42 loss per share (vs NT$0.66 profit in 2Q 2024)Second quarter 2025 results: NT$0.42 loss per share (down from NT$0.66 profit in 2Q 2024). Revenue: NT$1.24b (up 24% from 2Q 2024). Net loss: NT$45.7m (down 172% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.Upcoming Dividend • Aug 07Upcoming dividend of NT$1.00 per shareEligible shareholders must have bought the stock before 14 August 2025. Payment date: 12 September 2025. Payout ratio is a comfortable 44% but the company is not cash flow positive. Trailing yield: 3.6%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.8%).Declared Dividend • Jul 21Dividend increased to NT$1.00Dividend of NT$1.00 is 25% higher than last year. Ex-date: 14th August 2025 Payment date: 12th September 2025 Dividend yield will be 3.5%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (44% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 15% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Reported Earnings • May 09First quarter 2025 earnings released: EPS: NT$0.55 (vs NT$0.44 in 1Q 2024)First quarter 2025 results: EPS: NT$0.55 (up from NT$0.44 in 1Q 2024). Revenue: NT$1.38b (up 85% from 1Q 2024). Net income: NT$59.7m (up 45% from 1Q 2024). Profit margin: 4.3% (down from 5.5% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth.공시 • May 01Song Shang Electronics Co.,Ltd. to Report Q1, 2025 Results on May 07, 2025Song Shang Electronics Co.,Ltd. announced that they will report Q1, 2025 results on May 07, 2025Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to NT$23.15, the stock trades at a trailing P/E ratio of 11.8x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 24% over the past three years.공시 • Feb 28Song Shang Electronics Co.,Ltd. announced a financing transactionSong Shang Electronics Co.,Ltd. announced a private placement of 20,000,000 equity shares on February 26, 2025. The transaction has been approved by the shareholders of the company. he private placement is planned to be conducted in two phases within one year from the shareholders' meeting resolution, with each phase involving up to 10,000,000 shares.공시 • Feb 27Song Shang Electronics Co.,Ltd., Annual General Meeting, May 26, 2025Song Shang Electronics Co.,Ltd., Annual General Meeting, May 26, 2025. Location: r floor building. a no,99, chung ch`eng rd., tucheng district, new taipei city Taiwan공시 • Feb 19Song Shang Electronics Co.,Ltd. to Report Q4, 2024 Results on Feb 26, 2025Song Shang Electronics Co.,Ltd. announced that they will report Q4, 2024 results on Feb 26, 2025New Risk • Jan 16New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 34% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (21% accrual ratio). Shareholders have been substantially diluted in the past year (34% increase in shares outstanding). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (NT$2.64b market cap, or US$80.0m).New Risk • Dec 16New major risk - Financial data availabilityThe company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (9.2% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (NT$2.50b market cap, or US$77.0m).Reported Earnings • Nov 07Third quarter 2024 earnings released: EPS: NT$0.14 (vs NT$0.79 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.14 (down from NT$0.79 in 3Q 2023). Revenue: NT$1.18b (up 32% from 3Q 2023). Net income: NT$13.9m (down 78% from 3Q 2023). Profit margin: 1.2% (down from 6.9% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Nov 04Investor sentiment deteriorates as stock falls 20%After last week's 20% share price decline to NT$32.25, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 108% over the past three years.공시 • Oct 29Song Shang Electronics Co.,Ltd. to Report Q3, 2024 Results on Nov 05, 2024Song Shang Electronics Co.,Ltd. announced that they will report Q3, 2024 results on Nov 05, 2024Valuation Update With 7 Day Price Move • Oct 15Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$37.80, the stock trades at a trailing P/E ratio of 19.4x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 180% over the past three years.New Risk • Aug 30New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.6% average weekly change). Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (NT$3.11b market cap, or US$97.3m).Valuation Update With 7 Day Price Move • Aug 20Investor sentiment improves as stock rises 20%After last week's 20% share price gain to NT$32.35, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 131% over the past three years.Buy Or Sell Opportunity • Aug 16Now 22% overvalued after recent price riseOver the last 90 days, the stock has risen 11% to NT$26.80. The fair value is estimated to be NT$21.91, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Earnings per share has grown by 22%.Reported Earnings • Aug 08Second quarter 2024 earnings released: EPS: NT$0.66 (vs NT$0.67 in 2Q 2023)Second quarter 2024 results: EPS: NT$0.66. Revenue: NT$1.00b (up 37% from 2Q 2023). Net income: NT$63.6m (up 21% from 2Q 2023). Profit margin: 6.4% (down from 7.2% in 2Q 2023). The decrease in margin was driven by higher expenses.Upcoming Dividend • Aug 07Upcoming dividend of NT$0.80 per shareEligible shareholders must have bought the stock before 14 August 2024. Payment date: 10 September 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Taiwanese dividend payers (4.7%). Higher than average of industry peers (3.1%).Declared Dividend • Jul 19Dividend of NT$0.80 announcedDividend of NT$0.80 is the same as last year. Ex-date: 14th August 2024 Payment date: 10th September 2024 Dividend yield will be 3.1%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 14% per year over the past 8 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 59% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.8% EPS decline seen over the last 5 years.공시 • Jul 18Song Shang Electronics Co.,Ltd. Announces Dividend, Payable on September 10, 2024Song Shang Electronics Co.,Ltd. announced Cash dividends for common shares amount to TWD 77,407,084, with a distribution of TWD 0.8 per share. Ex-rights (Ex-dividend) date is August 14, 2024. Ex-rights (Ex-dividend) record date is August 44, 2024. Payment date of cash dividend distribution is September 10, 2024.New Risk • May 21New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (NT$2.35b market cap, or US$72.7m).공시 • May 02Song Shang Electronics Co.,Ltd. to Report Q1, 2024 Results on May 09, 2024Song Shang Electronics Co.,Ltd. announced that they will report Q1, 2024 results at 2:30 PM, Taipei Standard Time on May 09, 2024New Risk • Apr 05New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 24% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (NT$2.24b market cap, or US$69.8m).공시 • Feb 28Song Shang Electronics Co.,Ltd., Annual General Meeting, Jun 13, 2024Song Shang Electronics Co.,Ltd., Annual General Meeting, Jun 13, 2024. Location: RF., No.99, Zhongcheng Rd., Tucheng Dist., (Hi-MRT Science and Technology Park ) New Taipei City Taiwan Agenda: To consider and approve The Business Report of 2023; Audit Committee Review Report of 2023; The proposals to distribute compensation to employees and directors of 2023; Privately Offered Ordinary Shares of 2023; Report on The Issuance of 4th Unsecured Convertible Corporate Bonds by the Company in Taiwan; and to discuss other matters.Reported Earnings • Nov 04Third quarter 2023 earnings released: EPS: NT$0.79 (vs NT$1.34 in 3Q 2022)Third quarter 2023 results: EPS: NT$0.79 (down from NT$1.34 in 3Q 2022). Revenue: NT$889.5m (down 14% from 3Q 2022). Net income: NT$61.7m (down 42% from 3Q 2022). Profit margin: 6.9% (down from 10% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.New Risk • Oct 21New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 5.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.7% average weekly change). Market cap is less than US$100m (NT$1.90b market cap, or US$58.7m).Reported Earnings • Aug 05Second quarter 2023 earnings released: EPS: NT$0.67 (vs NT$0.52 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.67 (up from NT$0.52 in 2Q 2022). Revenue: NT$729.9m (down 35% from 2Q 2022). Net income: NT$52.5m (up 25% from 2Q 2022). Profit margin: 7.2% (up from 3.8% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Aug 03Upcoming dividend of NT$0.80 per share at 3.7% yieldEligible shareholders must have bought the stock before 10 August 2023. Payment date: 12 September 2023. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.2%).Reported Earnings • Mar 21Full year 2022 earnings released: EPS: NT$2.52 (vs NT$1.29 in FY 2021)Full year 2022 results: EPS: NT$2.52 (up from NT$1.29 in FY 2021). Revenue: NT$4.19b (down 11% from FY 2021). Net income: NT$200.6m (up 93% from FY 2021). Profit margin: 4.8% (up from 2.2% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 29% per year.Board Change • Nov 16Less than half of directors are independentThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 7 new directors. No experienced directors. 3 highly experienced directors. 3 independent directors (5 non-independent directors). Supervisor Yong Wen Zhang is the most experienced director on the board, commencing their role in 2013. Independent Director Chun Hung Tseng was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.Valuation Update With 7 Day Price Move • Nov 07Investor sentiment improved over the past weekAfter last week's 18% share price gain to NT$18.90, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 44% over the past three years.Reported Earnings • Nov 02Third quarter 2022 earnings released: EPS: NT$1.34 (vs NT$0.45 in 3Q 2021)Third quarter 2022 results: EPS: NT$1.34 (up from NT$0.45 in 3Q 2021). Revenue: NT$1.04b (down 19% from 3Q 2021). Net income: NT$106.4m (up 195% from 3Q 2021). Profit margin: 10% (up from 2.8% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 12% per year.Upcoming Dividend • Oct 11Upcoming dividend of NT$0.52 per shareEligible shareholders must have bought the stock before 18 October 2022. Payment date: 14 November 2022. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Taiwanese dividend payers (7.0%). Lower than average of industry peers (4.7%).Reported Earnings • Jul 28Second quarter 2022 earnings released: EPS: NT$0.52 (vs NT$0.20 in 2Q 2021)Second quarter 2022 results: EPS: NT$0.52 (up from NT$0.20 in 2Q 2021). Revenue: NT$1.12b (flat on 2Q 2021). Net income: NT$42.1m (up 164% from 2Q 2021). Profit margin: 3.8% (up from 1.4% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 8% per year, which means it is tracking significantly ahead of earnings growth.Reported Earnings • May 16First quarter 2022 earnings released: EPS: NT$0.20 (vs NT$0.23 in 1Q 2021)First quarter 2022 results: EPS: NT$0.20 (down from NT$0.23 in 1Q 2021). Revenue: NT$996.1m (flat on 1Q 2021). Net income: NT$16.5m (down 9.0% from 1Q 2021). Profit margin: 1.7% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.Board Change • Apr 27Less than half of directors are independentThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 7 new directors. No experienced directors. 3 highly experienced directors. 3 independent directors (5 non-independent directors). Supervisor Yong Wen Zhang is the most experienced director on the board, commencing their role in 2013. Independent Director Chun Hung Tseng was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.Valuation Update With 7 Day Price Move • Dec 17Investor sentiment improved over the past weekAfter last week's 18% share price gain to NT$21.75, the stock trades at a trailing P/E ratio of 18.1x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 52% over the past three years.Reported Earnings • Nov 07Third quarter 2021 earnings released: EPS NT$0.45 (vs NT$0.29 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.28b (up 21% from 3Q 2020). Net income: NT$36.0m (up 55% from 3Q 2020). Profit margin: 2.8% (up from 2.2% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Oct 25Investor sentiment improved over the past weekAfter last week's 15% share price gain to NT$17.15, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 48% over the past three years.Upcoming Dividend • Aug 19Upcoming dividend of NT$0.50 per shareEligible shareholders must have bought the stock before 26 August 2021. Payment date: 22 September 2021. Trailing yield: 3.2%. Lower than top quartile of Taiwanese dividend payers (5.2%). In line with average of industry peers (3.2%).Reported Earnings • Aug 09Second quarter 2021 earnings released: EPS NT$0.20 (vs NT$0.62 in 2Q 2020)The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$1.13b (up 4.6% from 2Q 2020). Net income: NT$16.0m (down 68% from 2Q 2020). Profit margin: 1.4% (down from 4.7% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • May 15Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to NT$16.55, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 2.9% over the past three years.Reported Earnings • May 06First quarter 2021 earnings released: EPS NT$0.22 (vs NT$0.084 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.00b (up 32% from 1Q 2020). Net income: NT$18.1m (up 164% from 1Q 2020). Profit margin: 1.8% (up from 0.9% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 3% per year.분석 기사 • Apr 17Song Shang ElectronicsLtd (GTSM:6156) Could Easily Take On More DebtLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...분석 기사 • Mar 30The Return Trends At Song Shang ElectronicsLtd (GTSM:6156) Look PromisingFinding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Reported Earnings • Mar 24Full year 2020 earnings released: EPS NT$1.32 (vs NT$1.06 in FY 2019)The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: NT$3.96b (down 3.8% from FY 2019). Net income: NT$107.0m (up 24% from FY 2019). Profit margin: 2.7% (up from 2.1% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has increased by 1% per year.분석 기사 • Mar 09Is The Market Rewarding Song Shang Electronics Co.,Ltd. (GTSM:6156) With A Negative Sentiment As A Result Of Its Mixed Fundamentals?Song Shang ElectronicsLtd (GTSM:6156) has had a rough three months with its share price down 10%. We, however decided...분석 기사 • Feb 15Would Song Shang Electronics Co.,Ltd. (GTSM:6156) Be Valuable To Income Investors?Is Song Shang Electronics Co.,Ltd. ( GTSM:6156 ) a good dividend stock? How can we tell? Dividend paying companies with...분석 기사 • Feb 02Calculating The Intrinsic Value Of Song Shang Electronics Co.,Ltd. (GTSM:6156)In this article we are going to estimate the intrinsic value of Song Shang Electronics Co.,Ltd. ( GTSM:6156 ) by...분석 기사 • Dec 30Is Song Shang ElectronicsLtd (GTSM:6156) Using Too Much Debt?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...분석 기사 • Dec 11Will Song Shang ElectronicsLtd (GTSM:6156) Multiply In Value Going Forward?There are a few key trends to look for if we want to identify the next multi-bagger. Firstly, we'll want to see a...Is New 90 Day High Low • Dec 09New 90-day high: NT$21.10The company is up 14% from its price of NT$18.55 on 11 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 12% over the same period.분석 기사 • Nov 23Is Song Shang Electronics Co.,Ltd.'s (GTSM:6156) Recent Price Movement Underpinned By Its Weak Fundamentals?With its stock down 13% over the past three months, it is easy to disregard Song Shang ElectronicsLtd (GTSM:6156). We...Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS NT$0.29The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: NT$1.06b (up 3.8% from 3Q 2019). Net income: NT$23.3m (down 40% from 3Q 2019). Profit margin: 2.2% (down from 3.8% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 6% per year.지급의 안정성과 성장배당 데이터 가져오는 중안정적인 배당: 6156 의 배당금 지급은 지난 10 년 동안 휘발성이었습니다.배당금 증가: 6156 의 배당금 지급액은 지난 10 년 동안 감소했습니다.배당 수익률 vs 시장Song Shang ElectronicsLtd 배당 수익률 vs 시장6156의 배당 수익률은 시장과 어떻게 비교되나요?구분배당 수익률회사 (6156)1.0%시장 하위 25% (TW)1.4%시장 상위 25% (TW)5.0%업계 평균 (Electronic)1.4%분석가 예측 (6156) (최대 3년)n/a주목할만한 배당금: 6156 의 배당금( 1.04% )은 TW 시장에서 배당금 지급자의 하위 25%( 1.42% )와 비교해 주목할 만하지 않습니다.고배당: 6156 의 배당금( 1.04% )은 TW 시장에서 배당금 지급자의 상위 25%( 5% )와 비교해 낮습니다.주주 대상 이익 배당수익 보장: 6156 배당금을 지급하고 있지만 회사는 수익성이 없습니다.주주 현금 배당현금 흐름 범위: 6156 배당금을 지급하고 있지만 회사에는 잉여현금흐름이 없습니다.높은 배당을 제공하는 우량 기업 찾기7D1Y7D1Y7D1YTW 시장에서 배당이 강한 기업.View Management기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/22 11:26종가2026/05/22 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 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.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 소스Song Shang Electronics Co.,Ltd.는 0명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.
Upcoming Dividend • Aug 07Upcoming dividend of NT$1.00 per shareEligible shareholders must have bought the stock before 14 August 2025. Payment date: 12 September 2025. Payout ratio is a comfortable 44% but the company is not cash flow positive. Trailing yield: 3.6%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.8%).
Declared Dividend • Jul 21Dividend increased to NT$1.00Dividend of NT$1.00 is 25% higher than last year. Ex-date: 14th August 2025 Payment date: 12th September 2025 Dividend yield will be 3.5%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (44% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 15% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Upcoming Dividend • Aug 07Upcoming dividend of NT$0.80 per shareEligible shareholders must have bought the stock before 14 August 2024. Payment date: 10 September 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Taiwanese dividend payers (4.7%). Higher than average of industry peers (3.1%).
Declared Dividend • Jul 19Dividend of NT$0.80 announcedDividend of NT$0.80 is the same as last year. Ex-date: 14th August 2024 Payment date: 10th September 2024 Dividend yield will be 3.1%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 14% per year over the past 8 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 59% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.8% EPS decline seen over the last 5 years.
공시 • Jul 18Song Shang Electronics Co.,Ltd. Announces Dividend, Payable on September 10, 2024Song Shang Electronics Co.,Ltd. announced Cash dividends for common shares amount to TWD 77,407,084, with a distribution of TWD 0.8 per share. Ex-rights (Ex-dividend) date is August 14, 2024. Ex-rights (Ex-dividend) record date is August 44, 2024. Payment date of cash dividend distribution is September 10, 2024.
Upcoming Dividend • Aug 03Upcoming dividend of NT$0.80 per share at 3.7% yieldEligible shareholders must have bought the stock before 10 August 2023. Payment date: 12 September 2023. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.2%).
Reported Earnings • May 20First quarter 2026 earnings released: NT$0.09 loss per share (vs NT$0.56 profit in 1Q 2025)First quarter 2026 results: NT$0.09 loss per share (down from NT$0.56 profit in 1Q 2025). Revenue: NT$1.39b (flat on 1Q 2025). Net loss: NT$9.88m (down 117% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.
New Risk • May 20New major risk - Revenue and earnings growthEarnings have declined by 2.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.5% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$1.99b market cap, or US$62.8m).
Reported Earnings • Mar 12Full year 2025 earnings released: EPS: NT$0.45 (vs NT$2.16 in FY 2024)Full year 2025 results: EPS: NT$0.45 (down from NT$2.16 in FY 2024). Revenue: NT$4.90b (up 14% from FY 2024). Net income: NT$48.2m (down 77% from FY 2024). Profit margin: 1.0% (down from 4.9% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.
공시 • Mar 05Song Shang Electronics Co.,Ltd., Annual General Meeting, May 29, 2026Song Shang Electronics Co.,Ltd., Annual General Meeting, May 29, 2026. Location: r floor building. a no,99, chung ch`eng rd., tucheng district, new taipei city Taiwan
Reported Earnings • Nov 05Third quarter 2025 earnings released: EPS: NT$0.03 (vs NT$0.14 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.03 (down from NT$0.14 in 3Q 2024). Revenue: NT$1.09b (down 7.2% from 3Q 2024). Net income: NT$3.77m (down 73% from 3Q 2024). Profit margin: 0.3% (down from 1.2% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.
Reported Earnings • Aug 14Second quarter 2025 earnings released: NT$0.42 loss per share (vs NT$0.66 profit in 2Q 2024)Second quarter 2025 results: NT$0.42 loss per share (down from NT$0.66 profit in 2Q 2024). Revenue: NT$1.24b (up 24% from 2Q 2024). Net loss: NT$45.7m (down 172% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.
Upcoming Dividend • Aug 07Upcoming dividend of NT$1.00 per shareEligible shareholders must have bought the stock before 14 August 2025. Payment date: 12 September 2025. Payout ratio is a comfortable 44% but the company is not cash flow positive. Trailing yield: 3.6%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.8%).
Declared Dividend • Jul 21Dividend increased to NT$1.00Dividend of NT$1.00 is 25% higher than last year. Ex-date: 14th August 2025 Payment date: 12th September 2025 Dividend yield will be 3.5%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (44% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 15% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Reported Earnings • May 09First quarter 2025 earnings released: EPS: NT$0.55 (vs NT$0.44 in 1Q 2024)First quarter 2025 results: EPS: NT$0.55 (up from NT$0.44 in 1Q 2024). Revenue: NT$1.38b (up 85% from 1Q 2024). Net income: NT$59.7m (up 45% from 1Q 2024). Profit margin: 4.3% (down from 5.5% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth.
공시 • May 01Song Shang Electronics Co.,Ltd. to Report Q1, 2025 Results on May 07, 2025Song Shang Electronics Co.,Ltd. announced that they will report Q1, 2025 results on May 07, 2025
Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to NT$23.15, the stock trades at a trailing P/E ratio of 11.8x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 24% over the past three years.
공시 • Feb 28Song Shang Electronics Co.,Ltd. announced a financing transactionSong Shang Electronics Co.,Ltd. announced a private placement of 20,000,000 equity shares on February 26, 2025. The transaction has been approved by the shareholders of the company. he private placement is planned to be conducted in two phases within one year from the shareholders' meeting resolution, with each phase involving up to 10,000,000 shares.
공시 • Feb 27Song Shang Electronics Co.,Ltd., Annual General Meeting, May 26, 2025Song Shang Electronics Co.,Ltd., Annual General Meeting, May 26, 2025. Location: r floor building. a no,99, chung ch`eng rd., tucheng district, new taipei city Taiwan
공시 • Feb 19Song Shang Electronics Co.,Ltd. to Report Q4, 2024 Results on Feb 26, 2025Song Shang Electronics Co.,Ltd. announced that they will report Q4, 2024 results on Feb 26, 2025
New Risk • Jan 16New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 34% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (21% accrual ratio). Shareholders have been substantially diluted in the past year (34% increase in shares outstanding). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (NT$2.64b market cap, or US$80.0m).
New Risk • Dec 16New major risk - Financial data availabilityThe company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (9.2% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (NT$2.50b market cap, or US$77.0m).
Reported Earnings • Nov 07Third quarter 2024 earnings released: EPS: NT$0.14 (vs NT$0.79 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.14 (down from NT$0.79 in 3Q 2023). Revenue: NT$1.18b (up 32% from 3Q 2023). Net income: NT$13.9m (down 78% from 3Q 2023). Profit margin: 1.2% (down from 6.9% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Nov 04Investor sentiment deteriorates as stock falls 20%After last week's 20% share price decline to NT$32.25, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 108% over the past three years.
공시 • Oct 29Song Shang Electronics Co.,Ltd. to Report Q3, 2024 Results on Nov 05, 2024Song Shang Electronics Co.,Ltd. announced that they will report Q3, 2024 results on Nov 05, 2024
Valuation Update With 7 Day Price Move • Oct 15Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$37.80, the stock trades at a trailing P/E ratio of 19.4x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 180% over the past three years.
New Risk • Aug 30New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.6% average weekly change). Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (NT$3.11b market cap, or US$97.3m).
Valuation Update With 7 Day Price Move • Aug 20Investor sentiment improves as stock rises 20%After last week's 20% share price gain to NT$32.35, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 131% over the past three years.
Buy Or Sell Opportunity • Aug 16Now 22% overvalued after recent price riseOver the last 90 days, the stock has risen 11% to NT$26.80. The fair value is estimated to be NT$21.91, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Earnings per share has grown by 22%.
Reported Earnings • Aug 08Second quarter 2024 earnings released: EPS: NT$0.66 (vs NT$0.67 in 2Q 2023)Second quarter 2024 results: EPS: NT$0.66. Revenue: NT$1.00b (up 37% from 2Q 2023). Net income: NT$63.6m (up 21% from 2Q 2023). Profit margin: 6.4% (down from 7.2% in 2Q 2023). The decrease in margin was driven by higher expenses.
Upcoming Dividend • Aug 07Upcoming dividend of NT$0.80 per shareEligible shareholders must have bought the stock before 14 August 2024. Payment date: 10 September 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Taiwanese dividend payers (4.7%). Higher than average of industry peers (3.1%).
Declared Dividend • Jul 19Dividend of NT$0.80 announcedDividend of NT$0.80 is the same as last year. Ex-date: 14th August 2024 Payment date: 10th September 2024 Dividend yield will be 3.1%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 14% per year over the past 8 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 59% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.8% EPS decline seen over the last 5 years.
공시 • Jul 18Song Shang Electronics Co.,Ltd. Announces Dividend, Payable on September 10, 2024Song Shang Electronics Co.,Ltd. announced Cash dividends for common shares amount to TWD 77,407,084, with a distribution of TWD 0.8 per share. Ex-rights (Ex-dividend) date is August 14, 2024. Ex-rights (Ex-dividend) record date is August 44, 2024. Payment date of cash dividend distribution is September 10, 2024.
New Risk • May 21New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (NT$2.35b market cap, or US$72.7m).
공시 • May 02Song Shang Electronics Co.,Ltd. to Report Q1, 2024 Results on May 09, 2024Song Shang Electronics Co.,Ltd. announced that they will report Q1, 2024 results at 2:30 PM, Taipei Standard Time on May 09, 2024
New Risk • Apr 05New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 24% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (NT$2.24b market cap, or US$69.8m).
공시 • Feb 28Song Shang Electronics Co.,Ltd., Annual General Meeting, Jun 13, 2024Song Shang Electronics Co.,Ltd., Annual General Meeting, Jun 13, 2024. Location: RF., No.99, Zhongcheng Rd., Tucheng Dist., (Hi-MRT Science and Technology Park ) New Taipei City Taiwan Agenda: To consider and approve The Business Report of 2023; Audit Committee Review Report of 2023; The proposals to distribute compensation to employees and directors of 2023; Privately Offered Ordinary Shares of 2023; Report on The Issuance of 4th Unsecured Convertible Corporate Bonds by the Company in Taiwan; and to discuss other matters.
Reported Earnings • Nov 04Third quarter 2023 earnings released: EPS: NT$0.79 (vs NT$1.34 in 3Q 2022)Third quarter 2023 results: EPS: NT$0.79 (down from NT$1.34 in 3Q 2022). Revenue: NT$889.5m (down 14% from 3Q 2022). Net income: NT$61.7m (down 42% from 3Q 2022). Profit margin: 6.9% (down from 10% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.
New Risk • Oct 21New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 5.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.7% average weekly change). Market cap is less than US$100m (NT$1.90b market cap, or US$58.7m).
Reported Earnings • Aug 05Second quarter 2023 earnings released: EPS: NT$0.67 (vs NT$0.52 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.67 (up from NT$0.52 in 2Q 2022). Revenue: NT$729.9m (down 35% from 2Q 2022). Net income: NT$52.5m (up 25% from 2Q 2022). Profit margin: 7.2% (up from 3.8% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Aug 03Upcoming dividend of NT$0.80 per share at 3.7% yieldEligible shareholders must have bought the stock before 10 August 2023. Payment date: 12 September 2023. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.2%).
Reported Earnings • Mar 21Full year 2022 earnings released: EPS: NT$2.52 (vs NT$1.29 in FY 2021)Full year 2022 results: EPS: NT$2.52 (up from NT$1.29 in FY 2021). Revenue: NT$4.19b (down 11% from FY 2021). Net income: NT$200.6m (up 93% from FY 2021). Profit margin: 4.8% (up from 2.2% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 29% per year.
Board Change • Nov 16Less than half of directors are independentThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 7 new directors. No experienced directors. 3 highly experienced directors. 3 independent directors (5 non-independent directors). Supervisor Yong Wen Zhang is the most experienced director on the board, commencing their role in 2013. Independent Director Chun Hung Tseng was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.
Valuation Update With 7 Day Price Move • Nov 07Investor sentiment improved over the past weekAfter last week's 18% share price gain to NT$18.90, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 44% over the past three years.
Reported Earnings • Nov 02Third quarter 2022 earnings released: EPS: NT$1.34 (vs NT$0.45 in 3Q 2021)Third quarter 2022 results: EPS: NT$1.34 (up from NT$0.45 in 3Q 2021). Revenue: NT$1.04b (down 19% from 3Q 2021). Net income: NT$106.4m (up 195% from 3Q 2021). Profit margin: 10% (up from 2.8% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 12% per year.
Upcoming Dividend • Oct 11Upcoming dividend of NT$0.52 per shareEligible shareholders must have bought the stock before 18 October 2022. Payment date: 14 November 2022. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Taiwanese dividend payers (7.0%). Lower than average of industry peers (4.7%).
Reported Earnings • Jul 28Second quarter 2022 earnings released: EPS: NT$0.52 (vs NT$0.20 in 2Q 2021)Second quarter 2022 results: EPS: NT$0.52 (up from NT$0.20 in 2Q 2021). Revenue: NT$1.12b (flat on 2Q 2021). Net income: NT$42.1m (up 164% from 2Q 2021). Profit margin: 3.8% (up from 1.4% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 8% per year, which means it is tracking significantly ahead of earnings growth.
Reported Earnings • May 16First quarter 2022 earnings released: EPS: NT$0.20 (vs NT$0.23 in 1Q 2021)First quarter 2022 results: EPS: NT$0.20 (down from NT$0.23 in 1Q 2021). Revenue: NT$996.1m (flat on 1Q 2021). Net income: NT$16.5m (down 9.0% from 1Q 2021). Profit margin: 1.7% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.
Board Change • Apr 27Less than half of directors are independentThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 7 new directors. No experienced directors. 3 highly experienced directors. 3 independent directors (5 non-independent directors). Supervisor Yong Wen Zhang is the most experienced director on the board, commencing their role in 2013. Independent Director Chun Hung Tseng was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.
Valuation Update With 7 Day Price Move • Dec 17Investor sentiment improved over the past weekAfter last week's 18% share price gain to NT$21.75, the stock trades at a trailing P/E ratio of 18.1x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 52% over the past three years.
Reported Earnings • Nov 07Third quarter 2021 earnings released: EPS NT$0.45 (vs NT$0.29 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.28b (up 21% from 3Q 2020). Net income: NT$36.0m (up 55% from 3Q 2020). Profit margin: 2.8% (up from 2.2% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Oct 25Investor sentiment improved over the past weekAfter last week's 15% share price gain to NT$17.15, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 48% over the past three years.
Upcoming Dividend • Aug 19Upcoming dividend of NT$0.50 per shareEligible shareholders must have bought the stock before 26 August 2021. Payment date: 22 September 2021. Trailing yield: 3.2%. Lower than top quartile of Taiwanese dividend payers (5.2%). In line with average of industry peers (3.2%).
Reported Earnings • Aug 09Second quarter 2021 earnings released: EPS NT$0.20 (vs NT$0.62 in 2Q 2020)The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$1.13b (up 4.6% from 2Q 2020). Net income: NT$16.0m (down 68% from 2Q 2020). Profit margin: 1.4% (down from 4.7% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • May 15Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to NT$16.55, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 2.9% over the past three years.
Reported Earnings • May 06First quarter 2021 earnings released: EPS NT$0.22 (vs NT$0.084 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.00b (up 32% from 1Q 2020). Net income: NT$18.1m (up 164% from 1Q 2020). Profit margin: 1.8% (up from 0.9% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 3% per year.
분석 기사 • Apr 17Song Shang ElectronicsLtd (GTSM:6156) Could Easily Take On More DebtLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
분석 기사 • Mar 30The Return Trends At Song Shang ElectronicsLtd (GTSM:6156) Look PromisingFinding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Reported Earnings • Mar 24Full year 2020 earnings released: EPS NT$1.32 (vs NT$1.06 in FY 2019)The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: NT$3.96b (down 3.8% from FY 2019). Net income: NT$107.0m (up 24% from FY 2019). Profit margin: 2.7% (up from 2.1% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has increased by 1% per year.
분석 기사 • Mar 09Is The Market Rewarding Song Shang Electronics Co.,Ltd. (GTSM:6156) With A Negative Sentiment As A Result Of Its Mixed Fundamentals?Song Shang ElectronicsLtd (GTSM:6156) has had a rough three months with its share price down 10%. We, however decided...
분석 기사 • Feb 15Would Song Shang Electronics Co.,Ltd. (GTSM:6156) Be Valuable To Income Investors?Is Song Shang Electronics Co.,Ltd. ( GTSM:6156 ) a good dividend stock? How can we tell? Dividend paying companies with...
분석 기사 • Feb 02Calculating The Intrinsic Value Of Song Shang Electronics Co.,Ltd. (GTSM:6156)In this article we are going to estimate the intrinsic value of Song Shang Electronics Co.,Ltd. ( GTSM:6156 ) by...
분석 기사 • Dec 30Is Song Shang ElectronicsLtd (GTSM:6156) Using Too Much Debt?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
분석 기사 • Dec 11Will Song Shang ElectronicsLtd (GTSM:6156) Multiply In Value Going Forward?There are a few key trends to look for if we want to identify the next multi-bagger. Firstly, we'll want to see a...
Is New 90 Day High Low • Dec 09New 90-day high: NT$21.10The company is up 14% from its price of NT$18.55 on 11 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 12% over the same period.
분석 기사 • Nov 23Is Song Shang Electronics Co.,Ltd.'s (GTSM:6156) Recent Price Movement Underpinned By Its Weak Fundamentals?With its stock down 13% over the past three months, it is easy to disregard Song Shang ElectronicsLtd (GTSM:6156). We...
Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS NT$0.29The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: NT$1.06b (up 3.8% from 3Q 2019). Net income: NT$23.3m (down 40% from 3Q 2019). Profit margin: 2.2% (down from 3.8% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 6% per year.