Reported Earnings • May 20
First quarter 2026 earnings released: EPS: NT$0.01 (vs NT$0.18 loss in 1Q 2025) First quarter 2026 results: EPS: NT$0.01 (up from NT$0.18 loss in 1Q 2025). Net income: NT$5.82m (up NT$89.8m from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 31
Full year 2025 earnings released: EPS: NT$6.28 (vs NT$1.01 loss in FY 2024) Full year 2025 results: EPS: NT$6.28 (up from NT$1.01 loss in FY 2024). Net income: NT$2.88b (up NT$3.35b from FY 2024). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Aankondiging • Mar 04
Federal Corporation, Annual General Meeting, May 20, 2026 Federal Corporation, Annual General Meeting, May 20, 2026, at 09:00 Taipei Standard Time. Location: 2 floor no,2 ln.12, ta t`an 3rd rd., guanyin district, taoyuan city Taiwan Reported Earnings • Nov 19
Third quarter 2025 earnings released: EPS: NT$0.16 (vs NT$0.27 loss in 3Q 2024) Third quarter 2025 results: EPS: NT$0.16 (up from NT$0.27 loss in 3Q 2024). Net income: NT$71.5m (up NT$197.3m from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 17
Second quarter 2025 earnings released: NT$2.19 loss per share (vs NT$0.15 loss in 2Q 2024) Second quarter 2025 results: NT$2.19 loss per share (further deteriorated from NT$0.15 loss in 2Q 2024). Net loss: NT$1.01b (loss widened NT$935.7m from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Board Change • Aug 13
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Representative Director Xiu-Zhen Jiang was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Aankondiging • May 06
Federal Corporation to Report Q1, 2025 Results on May 13, 2025 Federal Corporation announced that they will report Q1, 2025 results on May 13, 2025 Reported Earnings • May 04
Full year 2024 earnings released: NT$1.01 loss per share (vs NT$3.76 loss in FY 2023) Full year 2024 results: NT$1.01 loss per share (improved from NT$3.76 loss in FY 2023). Net loss: NT$465.2m (loss narrowed 73% from FY 2023). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 27
Full year 2024 earnings released Full year 2024 results: Net loss: NT$465.2m (loss narrowed 73% from FY 2023). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Aankondiging • Mar 05
Federal Corporation, Annual General Meeting, May 19, 2025 Federal Corporation, Annual General Meeting, May 19, 2025, at 09:00 Taipei Standard Time. Location: no,369, huan hsi rd., guanyin district, taoyuan city Taiwan Aankondiging • Feb 22
Federal Corporation to Report Fiscal Year 2024 Results on Mar 03, 2025 Federal Corporation announced that they will report fiscal year 2024 results on Mar 03, 2025 Reported Earnings • Nov 19
Third quarter 2024 earnings released: NT$0.27 loss per share (vs NT$0.51 loss in 3Q 2023) Third quarter 2024 results: NT$0.27 loss per share (improved from NT$0.51 loss in 3Q 2023). Net loss: NT$125.8m (loss narrowed 46% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Aankondiging • Nov 05
Federal Corporation to Report Q3, 2024 Results on Nov 12, 2024 Federal Corporation announced that they will report Q3, 2024 results on Nov 12, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: NT$0.15 loss per share (vs NT$0.60 loss in 2Q 2023) Second quarter 2024 results: NT$0.15 loss per share (improved from NT$0.60 loss in 2Q 2023). Net loss: NT$70.5m (loss narrowed 75% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Aankondiging • Aug 06
Federal Corporation to Report Q2, 2024 Results on Aug 13, 2024 Federal Corporation announced that they will report Q2, 2024 results on Aug 13, 2024 Aankondiging • May 25
Federal Corporation Announces the Appointment of Members of the Audit Committee and Remuneration Committee Federal Corporation announced the appointment of members of the Audit Committee and Remuneration Committee. Name of the previous position holder: Independent Director-Cheng, Fu-Yueh, Independent Director-Yao, Wen-Liang, Independent Director-Chao, Shih-I. Resume of the previous position holder: Independent Director-Cheng, Fu-Yueh -Independent Director of Federal Corporation. Independent Director-Yao, Wen-Liang -Independent Director of Federal Corporation. Independent Director-Chao, Shih-I - Independent Director of Federal Corporation. Name of the new position holder: Independent Director-Chen,Chun-Mei, Independent Director-Yao,Wen-Liang, Independent Director-Chang,Shin-Nan, Independent Director-Ciou,Jing-Ruei, Independent Director-Wang,Jhih-Long. Resume of the new position holder: Independent Director-Chen,Chun-Mei - Chairman of Hyatt Capital Management LTD, Independent Director-Yao,Wen-Liang - Independent Director of Federal Corporation. Independent Director-Chang,Shin-Nan - CEO of Karma Medical Products CO., LTD. Independent Director-Ciou,Jing-Ruei-Director of Tainet Communication System Corp. Independent Director-Wang,Jhih-Long - General Manager of Easywell Biomedicals Inc. Effective date of the new member: May 24, 2024. Reported Earnings • May 19
First quarter 2024 earnings released: NT$0.19 loss per share (vs NT$1.07 loss in 1Q 2023) First quarter 2024 results: NT$0.19 loss per share (improved from NT$1.07 loss in 1Q 2023). Net loss: NT$87.7m (loss narrowed 82% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 7% per year. Aankondiging • May 05
Federal Corporation to Report Q1, 2024 Results on May 10, 2024 Federal Corporation announced that they will report Q1, 2024 results on May 10, 2024 Reported Earnings • Apr 02
Full year 2023 earnings released: NT$3.76 loss per share (vs NT$2.95 loss in FY 2022) Full year 2023 results: NT$3.76 loss per share (further deteriorated from NT$2.95 loss in FY 2022). Revenue: NT$478.4m (down 70% from FY 2022). Net loss: NT$1.73b (loss widened 28% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Aankondiging • Mar 07
Federal Corporation, Annual General Meeting, May 24, 2024 Federal Corporation, Annual General Meeting, May 24, 2024. Location: No.369, Huanxi Rd Guanyin Dist Taoyuan City Taiwan Agenda: To consider The business report for the year 2023; to consider Audit Committee's review of the 2023 annual final accounting books and statements; to Report on fund loan and endorsement guarantee in 2023; to Report on the accumulated losses of the company in 2023 had been reached one-half of paid-in capital; and to discuss other matters. Aankondiging • Oct 21
Federal Corporation Announces Executive Changes Federal Corporation announced that the change of the research and development officer of the company. Name, title, and resume of the previous position holder: U,HONG-CHENG. Currently Director of OEM Department,resume: Director of research and development Department of Federal Corporation. Name, title, and resume of the new position holder: HUANG,JIAN-SING, currently Manager of Material and Technical Department, resume: Manager of Material and Technical Department of Federal Corporation. The effective date is October 20, 2023. Reported Earnings • Aug 17
Second quarter 2023 earnings released: NT$0.61 loss per share (vs NT$0.32 loss in 2Q 2022) Second quarter 2023 results: NT$0.61 loss per share (further deteriorated from NT$0.32 loss in 2Q 2022). Revenue: NT$111.5m (down 71% from 2Q 2022). Net loss: NT$278.2m (loss widened 88% from 2Q 2022). 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 7% per year, which means it has not declined as severely as earnings. Aankondiging • Aug 11
Federal Corporation Announces the Appointment of Lu, Xin-Yi as Financial Officer Federal Corporation announced the appointment of LU, XIN-YI as financial officer. Name, title, and resume of the new position holder: LU, XIN-YI, currently Director of Finance Department of the company, major experience: Director of Finance Department of Federal Corporation. Effective date: August 10, 2023. Reported Earnings • Nov 19
Third quarter 2022 earnings released: NT$0.28 loss per share (vs NT$0.98 loss in 3Q 2021) Third quarter 2022 results: NT$0.28 loss per share (improved from NT$0.98 loss in 3Q 2021). Revenue: NT$525.2m (up 52% from 3Q 2021). Net loss: NT$126.5m (loss narrowed 72% from 3Q 2021). 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 15% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent There are 9 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: 9 new directors. No experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Chairman of the Board & President Ching-Hsing Chiang is the most experienced director on the board, commencing their role in 2020. Independent Director Fu-Yueh Cheng was the last independent director to join the board, commencing their role in 2021. 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. Aankondiging • Nov 11
Federal Corporation Announces Change of Representative of Juristic Person Director Federal Corporation announced resignation of Fang Xiang Qi as Representative of Juristic Person Director and appointed Chen Chong Yi as Representative of Juristic Person Director of the company. Effective date of the new appointment is November 9, 2022. Reported Earnings • Aug 15
Second quarter 2022 earnings released: NT$0.32 loss per share (vs NT$2.50 loss in 2Q 2021) Second quarter 2022 results: NT$0.32 loss per share (up from NT$2.50 loss in 2Q 2021). Revenue: NT$386.1m (up 16% from 2Q 2021). Net loss: NT$147.9m (loss narrowed 87% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Reported Earnings • May 16
First quarter 2022 earnings released: NT$0.37 loss per share (vs NT$0.57 loss in 1Q 2021) First quarter 2022 results: NT$0.37 loss per share (up from NT$0.57 loss in 1Q 2021). Revenue: NT$353.5m (down 36% from 1Q 2021). Net loss: NT$167.9m (loss narrowed 35% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 7 non-independent directors. Independent Director Xing Ru Zhou was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 03
Full year 2021 earnings released: NT$5.11 loss per share (vs NT$0.30 profit in FY 2020) Full year 2021 results: NT$5.11 loss per share (down from NT$0.30 profit in FY 2020). Revenue: NT$1.56b (down 73% from FY 2020). Net loss: NT$2.35b (down NT$2.49b from profit in FY 2020). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings. Aankondiging • Feb 17
Federal Corporation Announces Management Changes Federal Corporation announced that CHEN HSUEH SHENG will replace LU HENG ZHI as institutional director, effective February 16, 2022. Upcoming Dividend • Nov 02
Upcoming dividend of NT$0.02 per share Eligible shareholders must have bought the stock before 09 November 2021. Payment date: 30 November 2021. Trailing yield: 0.1%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (2.6%). Reported Earnings • Aug 15
Second quarter 2021 earnings released: NT$2.50 loss per share (vs NT$0.013 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: NT$334.2m (down 69% from 2Q 2020). Net loss: NT$1.15b (down NT$1.16b from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 33% per year. Reported Earnings • May 15
First quarter 2021 earnings released: NT$0.57 loss per share (vs NT$0.016 profit in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: NT$548.9m (down 59% from 1Q 2020). Net loss: NT$259.9m (down NT$267.2m from profit in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 04
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$22.80, the stock trades at a trailing P/E ratio of 77.1x. Average trailing P/E is 28x in the Auto Components industry in Taiwan. Total returns to shareholders of 77% over the past three years. Reported Earnings • Apr 01
Full year 2020 earnings released: EPS NT$0.29 (vs NT$1.44 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$5.70b (up 26% from FY 2019). Net income: NT$135.9m (up NT$796.7m from FY 2019). Profit margin: 2.4% (up from net loss in FY 2019). The move to profitability was driven by higher revenue. 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 17% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Jan 29
New 90-day low: NT$16.65 The company is down 17% from its price of NT$20.00 on 30 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 16% over the same period. Is New 90 Day High Low • Jan 05
New 90-day low: NT$18.50 The company is down 9.0% from its price of NT$20.30 on 07 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 17% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.23 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.90b (up 57% from 3Q 2019). Net income: NT$111.3m (up NT$215.0m from 3Q 2019). Profit margin: 5.9% (up from net loss in 3Q 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. 