Valuation Update With 7 Day Price Move • May 27
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to NT$81.30, the stock trades at a trailing P/E ratio of 37.8x. Average trailing P/E is 30x in the Machinery industry in Taiwan. Total returns to shareholders of 193% over the past three years. Reported Earnings • May 14
First quarter 2026 earnings released: EPS: NT$0.29 (vs NT$0.43 in 1Q 2025) First quarter 2026 results: EPS: NT$0.29 (down from NT$0.43 in 1Q 2025). Revenue: NT$157.5m (up 8.2% from 1Q 2025). Net income: NT$10.5m (down 33% from 1Q 2025). Profit margin: 6.7% (down from 11% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$62.80, the stock trades at a trailing P/E ratio of 27.4x. Average trailing P/E is 31x in the Machinery industry in Taiwan. Total returns to shareholders of 115% over the past three years. Buy Or Sell Opportunity • Apr 23
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 18% to NT$55.20. The fair value is estimated to be NT$44.45, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.3% over the last 3 years. Earnings per share has grown by 7.1%. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$45.65, the stock trades at a trailing P/E ratio of 19.9x. Average trailing P/E is 30x in the Machinery industry in Taiwan. Total returns to shareholders of 57% over the past three years. Upcoming Dividend • Apr 02
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 09 April 2026. Payment date: 08 May 2026. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.3%). Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: NT$2.30 (vs NT$2.97 in FY 2024) Full year 2025 results: EPS: NT$2.30 (down from NT$2.97 in FY 2024). Revenue: NT$694.2m (down 3.0% from FY 2024). Net income: NT$82.2m (down 23% from FY 2024). Profit margin: 12% (down from 15% in FY 2024). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Aankondiging • Mar 12
Ching Chan Optical Technology Co., Ltd., Annual General Meeting, Jun 09, 2026 Ching Chan Optical Technology Co., Ltd., Annual General Meeting, Jun 09, 2026. Location: 1 floor no,58 ln.110, chung hsiao st., hunei district, kaohsiung city Taiwan Reported Earnings • Nov 08
Third quarter 2025 earnings released: EPS: NT$0.74 (vs NT$0.61 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.74 (up from NT$0.61 in 3Q 2024). Revenue: NT$184.4m (down 13% from 3Q 2024). Net income: NT$26.4m (up 20% from 3Q 2024). Profit margin: 14% (up from 10% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 2% per year. New Risk • Oct 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.5% 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 (6.5% average weekly change). Profit margins are more than 30% lower than last year (9.5% net profit margin). Market cap is less than US$100m (NT$1.74b market cap, or US$57.3m). Valuation Update With 7 Day Price Move • Oct 02
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$45.75, the stock trades at a trailing P/E ratio of 25.1x. Average trailing P/E is 24x in the Machinery industry in Taiwan. Total returns to shareholders of 54% over the past three years. Upcoming Dividend • Aug 13
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 20 August 2025. Payment date: 17 September 2025. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.7%). Reported Earnings • Aug 06
Second quarter 2025 earnings released: EPS: NT$0.07 (vs NT$0.98 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.07 (down from NT$0.98 in 2Q 2024). Revenue: NT$151.5m (down 17% from 2Q 2024). Net income: NT$2.55m (down 93% from 2Q 2024). Profit margin: 1.7% (down from 19% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 10% per year. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$45.40, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 18x in the Machinery industry in Taiwan. Total returns to shareholders of 50% over the past three years. New Risk • Aug 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.2% 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 (6.2% average weekly change). Market cap is less than US$100m (NT$1.54b market cap, or US$51.6m). Reported Earnings • May 10
First quarter 2025 earnings released: EPS: NT$0.44 (vs NT$0.67 in 1Q 2024) First quarter 2025 results: EPS: NT$0.44 (down from NT$0.67 in 1Q 2024). Revenue: NT$145.5m (flat on 1Q 2024). Net income: NT$15.6m (down 35% from 1Q 2024). Profit margin: 11% (down from 16% in 1Q 2024). 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 13% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$45.85, the stock trades at a trailing P/E ratio of 15.4x. Average trailing P/E is 17x in the Machinery industry in Taiwan. Total returns to shareholders of 48% over the past three years. Reported Earnings • Mar 30
Full year 2024 earnings released: EPS: NT$2.97 (vs NT$2.25 in FY 2023) Full year 2024 results: EPS: NT$2.97 (up from NT$2.25 in FY 2023). Revenue: NT$715.4m (up 15% from FY 2023). Net income: NT$106.3m (up 32% from FY 2023). Profit margin: 15% (up from 13% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 25
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 01 April 2025. Payment date: 05 May 2025. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Taiwanese dividend payers (4.6%). Higher than average of industry peers (2.6%). Aankondiging • Mar 13
Ching Chan Optical Technology Co., Ltd., Annual General Meeting, Jun 05, 2025 Ching Chan Optical Technology Co., Ltd., Annual General Meeting, Jun 05, 2025. Location: 1 floor no,58 ln.110, chung hsiao st., hunei district, kaohsiung city Taiwan Valuation Update With 7 Day Price Move • Nov 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$84.80, the stock trades at a trailing P/E ratio of 23.8x. Average trailing P/E is 20x in the Machinery industry in Taiwan. Total returns to shareholders of 192% over the past three years. Reported Earnings • Nov 19
Third quarter 2024 earnings released: EPS: NT$0.61 (vs NT$0.66 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.61 (down from NT$0.66 in 3Q 2023). Revenue: NT$210.7m (up 42% from 3Q 2023). Net income: NT$22.0m (down 7.0% from 3Q 2023). Profit margin: 10% (down from 16% 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 8% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Oct 28
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.15b (US$98.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risks Dividend is not well covered by cash flows (241% cash payout ratio). Market cap is less than US$100m (NT$3.15b market cap, or US$98.1m). Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$94.50, the stock trades at a trailing P/E ratio of 26.1x. Average trailing P/E is 20x in the Machinery industry in Taiwan. Total returns to shareholders of 227% over the past three years. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$73.00, the stock trades at a trailing P/E ratio of 20.2x. Average trailing P/E is 19x in the Machinery industry in Taiwan. Total returns to shareholders of 162% over the past three years. Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to NT$84.00, the stock trades at a trailing P/E ratio of 23.2x. Average trailing P/E is 19x in the Machinery industry in Taiwan. Total returns to shareholders of 127% over the past three years. Upcoming Dividend • Aug 21
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 28 August 2024. Payment date: 24 September 2024. Payout ratio is a comfortable 42% but the company is paying out more than the cash it is generating. Trailing yield: 1.2%. Lower than top quartile of Taiwanese dividend payers (4.3%). Lower than average of industry peers (2.5%). Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.98 (vs NT$0.20 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.98 (up from NT$0.20 in 2Q 2023). Revenue: NT$183.1m (up 31% from 2Q 2023). Net income: NT$35.2m (up 398% from 2Q 2023). Profit margin: 19% (up from 5.0% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 31
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$62.80, the stock trades at a trailing P/E ratio of 22.2x. Average trailing P/E is 20x in the Machinery industry in Taiwan. Total returns to shareholders of 166% over the past three years. New Risk • Jul 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.6% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.6% average weekly change). Minor Risks Dividend is not well covered by cash flows (198% cash payout ratio). Market cap is less than US$100m (NT$1.82b market cap, or US$56.0m). Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$47.85, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 20x in the Machinery industry in Taiwan. Total returns to shareholders of 95% over the past three years. New Risk • May 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (198% cash payout ratio). Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (NT$1.36b market cap, or US$42.4m). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.67 (vs NT$0.099 in 1Q 2023) First quarter 2024 results: EPS: NT$0.67 (up from NT$0.099 in 1Q 2023). Revenue: NT$146.7m (up 16% from 1Q 2023). Net income: NT$24.1m (up NT$20.6m from 1Q 2023). Profit margin: 16% (up from 2.8% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 02
Full year 2023 earnings released: EPS: NT$2.25 (vs NT$2.32 in FY 2022) Full year 2023 results: EPS: NT$2.25 (down from NT$2.32 in FY 2022). Revenue: NT$622.3m (up 3.1% from FY 2022). Net income: NT$80.7m (down 2.8% from FY 2022). Profit margin: 13% (in line with FY 2022). 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 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 26
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 02 April 2024. Payment date: 03 May 2024. Payout ratio is on the higher end at 92%, and the cash payout ratio is above 100%. Trailing yield: 3.9%. Lower than top quartile of Taiwanese dividend payers (4.7%). Higher than average of industry peers (2.6%). Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$0.20 (vs NT$0.11 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.20 (up from NT$0.11 in 2Q 2022). Revenue: NT$139.9m (down 1.4% from 2Q 2022). Net income: NT$7.06m (up 85% from 2Q 2022). Profit margin: 5.0% (up from 2.7% 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 75% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jul 18
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 9.0%. The fair value is estimated to be NT$39.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.9% over the last 3 years. Meanwhile, the company has become profitable. Buying Opportunity • Jun 13
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.9%. The fair value is estimated to be NT$40.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.9% over the last 3 years. Meanwhile, the company has become profitable. Upcoming Dividend • Apr 05
Upcoming dividend of NT$1.50 per share at 4.0% yield Eligible shareholders must have bought the stock before 12 April 2023. Payment date: 09 May 2023. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of Taiwanese dividend payers (5.9%). Higher than average of industry peers (3.1%). Reported Earnings • May 06
First quarter 2022 earnings released: EPS: NT$0.84 (vs NT$0.31 in 1Q 2021) First quarter 2022 results: EPS: NT$0.84 (up from NT$0.31 in 1Q 2021). Revenue: NT$116.3m (down 20% from 1Q 2021). Net income: NT$30.2m (up 170% from 1Q 2021). Profit margin: 26% (up from 7.7% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 31
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 07 April 2022. Payment date: 05 May 2022. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of Taiwanese dividend payers (5.5%). In line with average of industry peers (3.1%). Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS NT$0.60 (vs NT$0.024 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$143.6m (up 47% from 3Q 2020). Net income: NT$21.3m (up NT$22.2m from 3Q 2020). Profit margin: 15% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$33.50, the stock trades at a trailing P/E ratio of 26.6x. Average trailing P/E is 18x in the Machinery industry in Taiwan. Total loss to shareholders of 5.0% over the past three years. Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment improved over the past week After last week's 15% share price gain to NT$33.55, the stock trades at a trailing P/E ratio of 26.7x. Average trailing P/E is 17x in the Machinery industry in Taiwan. Total loss to shareholders of 8.9% over the past three years. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$0.60 (vs NT$1.15 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$135.7m (up 57% from 2Q 2020). Net income: NT$21.6m (up NT$62.7m from 2Q 2020). Profit margin: 16% (up from net loss in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Jul 29
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 05 August 2021. Payment date: 27 August 2021. Trailing yield: 3.6%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (2.6%). Reported Earnings • May 11
First quarter 2021 earnings released: EPS NT$0.31 (vs NT$0.64 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$144.4m (up 9.1% from 1Q 2020). Net income: NT$11.2m (up NT$34.1m from 1Q 2020). Profit margin: 7.7% (up from net loss in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 25
Full year 2020 earnings released: NT$1.45 loss per share (vs NT$0.56 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: NT$468.4m (down 23% from FY 2019). Net loss: NT$51.9m (down 353% from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Aankondiging • Mar 20
Ching Chan Optical Technology Co., Ltd., Annual General Meeting, Jun 07, 2021 Ching Chan Optical Technology Co., Ltd., Annual General Meeting, Jun 07, 2021. Is New 90 Day High Low • Jan 15
New 90-day high: NT$28.95 The company is up 16% from its price of NT$24.85 on 16 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 27% over the same period. Is New 90 Day High Low • Dec 09
New 90-day high: NT$27.35 The company is up 5.0% from its price of NT$26.05 on 11 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 8.0% over the same period. Reported Earnings • Nov 09
Third quarter 2020 earnings released: NT$0.02 loss per share The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2020 results: Revenue: NT$97.6m (down 34% from 3Q 2019). Net loss: NT$876.0k (loss narrowed 90% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 78% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 05
New 90-day low: NT$23.50 The company is down 19% from its price of NT$29.00 on 07 August 2020. The Taiwanese market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 2.0% over the same period. Is New 90 Day High Low • Oct 14
New 90-day low: NT$24.95 The company is down 17% from its price of NT$30.00 on 16 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 4.0% over the same period. Is New 90 Day High Low • Sep 25
New 90-day low: NT$25.60 The company is down 20% from its price of NT$32.00 on 24 June 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 4.0% over the same period. 
