Reported Earnings • Mar 17
Full year 2025 earnings released: EPS: NT$44.56 (vs NT$39.59 in FY 2024) Full year 2025 results: EPS: NT$44.56 (up from NT$39.59 in FY 2024). Revenue: NT$6.25b (up 5.8% from FY 2024). Net income: NT$1.35b (up 14% from FY 2024). Profit margin: 22% (up from 20% in FY 2024). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$674, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 22x in the Tech industry in Taiwan. Total returns to shareholders of 1.9% over the past year. 공지 • Mar 10
QNAP Systems, Inc., Annual General Meeting, May 27, 2026 QNAP Systems, Inc., Annual General Meeting, May 27, 2026. Location: 3 floor no,22, chung hsing rd., sijhih district, new taipei city Taiwan Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$670, the stock trades at a trailing P/E ratio of 16.3x. Average trailing P/E is 21x in the Tech industry in Taiwan. Total returns to shareholders of 12% over the past year. New Risk • Dec 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 7.1% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 98% Cash payout ratio: 145% Minor Risk Share price has been volatile over the past 3 months (7.1% average weekly change). Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$808, the stock trades at a trailing P/E ratio of 19.7x. Average trailing P/E is 22x in the Tech industry in Taiwan. Total returns to shareholders of 1.9% over the past year. 공지 • Nov 07
QNAP Systems, Inc. Launches 4U 60-Bay High-Density SAS/SATA JBOD, Delivering Petabyte-Scale Expansion for Enterprises QNAP®?Systems, Inc. launched the TL-R6020Sep-RP, a 4U 60-bay high-density SAS/SATA JBOD designed to maximize capacity while minimizing costs and rack space. Delivering petabyte-scale storage, the TL-R6020 Sep-RP enables enterprises to optimize space utilization, simplify scalability, and ensure reliable long-term data archiving for applications such as cold data, video surveillance, big data, and media archives. The TL-R6020Sep -RP provides four high-speed Mini-SAS HD (SFF-8644) ports with SAS 12Gb/s bandwidth and Broadcom®? SAS DataBolt™? technology for bandwidth optimization. With its dual-path redundant design, system operation continues uninterrupted even if one cable fails. By supporting daisy-chaining of up to four enclosures (240 drives total), the TL-R6020 September-RP allows seamless capacity expansion up to 4PB raw storage. By adding SAS expansion cards to the NAS and connecting the 60-bay JBOD, users can distribute the bandwidth loads from large drive arrays and further improve overall performance. Key Features: High-density efficiency: Significantly reduces rack space usage, weight, and power consumption, while meeting long-term and large-scale expansion needs. Petabyte-scale capacity: Up to 60x SAS/SATA HDDs in a single 4U chassis, supporting over 1PB effective capacity. Flexible scalability: Daisy-chain up to four units with multipath redundancy for 4PB of raw capacity. Broadcom®? SAS Data Bolt™? optimization: Aggregates dual 6Gb/s signals into a 12Gb/s stream for faster data throughput. Easy maintenance: Compact 750 mm-deep chassis with included rail kits fits 1000 mm racks, offering hot-swappable fans, power supplies, and drive trays, and front-panel indicators for all 60 drives. Seamless integration and data protection: Manage the JBOD and all drives through QNAP NAS Storage & Snapshots Manager. When paired with ZFS, it provides inline compression, deduplication, and self-healing to ensure data integrity and reliability for petabyte-scale environments. 공지 • Oct 15
QNAP Systems, Inc. has filed a Follow-on Equity Offering in the amount of TWD 1.57356 billion. QNAP Systems, Inc. has filed a Follow-on Equity Offering in the amount of TWD 1.57356 billion.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 2,820,000
Price\Range: TWD 558 Reported Earnings • Aug 17
Second quarter 2025 earnings released: EPS: NT$6.50 (vs NT$2.86 in 2Q 2024) Second quarter 2025 results: EPS: NT$6.50. Revenue: NT$1.48b (up 4.6% from 2Q 2024). Net income: NT$196.9m (down 6.8% from 2Q 2024). Profit margin: 13% (down from 15% in 2Q 2024). The decrease in margin was driven by higher expenses. Reported Earnings • Jul 07
First quarter 2025 earnings released: EPS: NT$11.74 (vs NT$14.18 in 1Q 2024) First quarter 2025 results: EPS: NT$11.74. Revenue: NT$1.62b (up 9.4% from 1Q 2024). Net income: NT$352.1m (up 18% from 1Q 2024). Profit margin: 22% (up from 20% in 1Q 2024). The increase in margin was driven by higher revenue. Buy Or Sell Opportunity • May 08
Now 20% overvalued Over the last 90 days, the stock has fallen 2.4% to NT$650. The fair value is estimated to be NT$541, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last year. Earnings per share has declined by 62%. New Risk • Apr 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 7.3% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$560, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 20x in the Tech industry in Taiwan. 공지 • Mar 13
QNAP Systems, Inc., Annual General Meeting, May 26, 2025 QNAP Systems, Inc., Annual General Meeting, May 26, 2025, at 09:00 Taipei Standard Time. Location: 2 floor no,22, chung hsing rd., sijhih district, new taipei city Taiwan 공지 • Dec 10
QNAP Systems, Inc. Unveils the Compact 1U Rackmount 4-Bay NAS TS-433eU QNAP Systems, Inc. unveiled the compact 1U rackmount 4-bay NAS TS-433eU, which offers small to midsize businesses and organizations an affordable edge storage and backup solution. With a sleek 1U design and a depth only of 11.51 inches (292.3mm), the TS-433eU easily fits into space-constrained environments. The TS-433eU features four 3.5-inch SATA 6Gb/s drive bays, fulfilling business demands in storage, file sharing, synchronization, and data protection for boosted daily work productivity. It also supports efficient backup from various sources, including PCs, and Google Workspace/Microsoft 365 SaaS data. Users can also enable remote backup to another NAS or the immutable myQNAPcloud Storage. Snapshots offers comprehensive data protection and recovery, safeguarding against ransomware threats. Additionally, users can run Docker containers on the TS-433eU to deploy various microservices, or create a video surveillance system to safeguard working environments. Key features of TS-433eU: Optimized space utilization: The 1U short depth design makes it easy to fit in a small cabinet or wall-mounted network rack, ideal for space-limited environments including offices, factories, IT rooms, or surveillance rooms. Powerful yet energy-efficient: Equipped with an energy-saving ARM 64-bit Cortex-A55 quad-core 2.0 GHz processor and 4GB built-in memory, the TS-433eU delivers stable system operation and efficient multitasking. Built-in NPU for AI acceleration: A built-in NPU accelerates AI-powered face recognition and subject identification in QNAP'sQuMagie smart album, while reducing CPU workloads. AES hardware encryption: With AES hardware-accelerated encryption, the processor enhances encryption performance, which secures critical NAS data while maintaining high system performance. 2.5GbE as standard: Two 2.5GbE RJ45 ports help facilitate high-speed data transfer, large file access, and backup/restore. By enabling SMB Multichannel or Port Trunking, users can achieve fault-tolerant connections or increased data transfer speeds. Flexible USB storage expansion: Two USB 3.2 Gen 1 (5Gbps) Type-A ports allow users to connect one QNAP short-depth USB JBOD TR-004U, increasing the total storage to eight drive capacity. 
