Buy Or Sell Opportunity • Jun 09
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 6.8% to NT$118. The fair value is estimated to be NT$97.70, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 19%. Reported Earnings • May 16
First quarter 2026 earnings released: EPS: NT$3.00 (vs NT$2.69 in 1Q 2025) First quarter 2026 results: EPS: NT$3.00 (up from NT$2.69 in 1Q 2025). Revenue: NT$696.6m (up 74% from 1Q 2025). Net income: NT$137.5m (up 33% from 1Q 2025). Profit margin: 20% (down from 26% 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 19% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$125, the stock trades at a trailing P/E ratio of 19.4x. Average trailing P/E is 19x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 229% over the past three years. Buy Or Sell Opportunity • Apr 07
Now 20% overvalued Over the last 90 days, the stock has fallen 11% to NT$110. The fair value is estimated to be NT$91.43, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 24%. Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: NT$6.46 (vs NT$11.49 in FY 2024) Full year 2025 results: EPS: NT$6.46 (down from NT$11.49 in FY 2024). Revenue: NT$1.74b (up 7.7% from FY 2024). Net income: NT$247.4m (down 41% from FY 2024). Profit margin: 14% (down from 26% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Mar 11
Thai Kin Co., Ltd., Annual General Meeting, May 27, 2026 Thai Kin Co., Ltd., Annual General Meeting, May 27, 2026, at 09:30 Taipei Standard Time. Location: 13 floor no,152, sung chiang rd., jhongshan district, taipei city Taiwan Upcoming Dividend • Jan 01
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 08 January 2026. Payment date: 11 February 2026. Payout ratio is on the higher end at 77% but the company is not cash flow positive. Trailing yield: 4.9%. Lower than top quartile of Taiwanese dividend payers (5.5%). In line with average of industry peers (4.7%). New Risk • Nov 14
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 26% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (26% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.7% average weekly change). Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: NT$2.80 (vs NT$2.14 in 3Q 2024) Third quarter 2025 results: EPS: NT$2.80 (up from NT$2.14 in 3Q 2024). Revenue: NT$442.9m (down 11% from 3Q 2024). Net income: NT$107.4m (up 41% from 3Q 2024). Profit margin: 24% (up from 15% 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 27% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Nov 11
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 (331% cash payout ratio). Share price has been volatile over the past 3 months (6.7% average weekly change). Aankondiging • Nov 06
Thai Kin Co., Ltd. to Report Q3, 2025 Results on Nov 12, 2025 Thai Kin Co., Ltd. announced that they will report Q3, 2025 results on Nov 12, 2025 Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$155, the stock trades at a trailing P/E ratio of 23.3x. Average trailing P/E is 16x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 278% over the past three years. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$110, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 16x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 161% over the past three years. Reported Earnings • Aug 27
Second quarter 2025 earnings released: NT$1.21 loss per share (vs NT$2.49 profit in 2Q 2024) Second quarter 2025 results: NT$1.21 loss per share (down from NT$2.49 profit in 2Q 2024). Revenue: NT$307.5m (down 14% from 2Q 2024). Net loss: NT$46.5m (down 152% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. New Risk • Jul 22
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$2.89b (US$98.0m) 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: Minor Risks Dividend is not well covered by cash flows (168% cash payout ratio). Market cap is less than US$100m (NT$2.89b market cap, or US$98.0m). Upcoming Dividend • Jul 01
Upcoming dividend of NT$4.20 per share Eligible shareholders must have bought the stock before 08 July 2025. Payment date: 06 August 2025. Payout ratio is on the higher end at 77%, and the cash payout ratio is above 100%. Trailing yield: 12%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (4.6%). Declared Dividend • Jun 13
Dividend of NT$4.20 announced Shareholders will receive a dividend of NT$4.20. Ex-date: 8th July 2025 Payment date: 6th August 2025 Dividend yield will be 10%, which is higher than the industry average of 4.1%. Sustainability & Growth Dividend is covered by earnings (77% earnings payout ratio) but not covered by cash flows (168% cash payout ratio). The dividend has increased by an average of 22% per year over the past 4 years. However, payments have been volatile during that time. Earnings per share has grown by 18% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$86.40, the stock trades at a trailing P/E ratio of 8.5x. Average forward P/E is 15x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 77% over the past three years. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$2.69 (vs NT$3.66 in 1Q 2024) First quarter 2025 results: EPS: NT$2.69 (down from NT$3.66 in 1Q 2024). Revenue: NT$401.1m (down 4.9% from 1Q 2024). Net income: NT$103.2m (down 21% from 1Q 2024). Profit margin: 26% (down from 31% in 1Q 2024). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Aankondiging • May 06
Thai Kin Co., Ltd. to Report Q1, 2025 Results on May 13, 2025 Thai Kin Co., Ltd. announced that they will report Q1, 2025 results on May 13, 2025 New Risk • Apr 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.09b (US$93.8m) 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: Minor Risks Dividend is not well covered by cash flows (152% cash payout ratio). Market cap is less than US$100m (NT$3.09b market cap, or US$93.8m). Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$89.50, the stock trades at a trailing P/E ratio of 8.2x. Average forward P/E is 13x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 81% over the past three years. Buy Or Sell Opportunity • Apr 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.0% to NT$110. The fair value is estimated to be NT$138, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 23%. Aankondiging • Mar 13
Thai Kin Co., Ltd., Annual General Meeting, May 29, 2025 Thai Kin Co., Ltd., Annual General Meeting, May 29, 2025, at 09:00 Taipei Standard Time. Location: 13 floor no,152, sung chiang rd., jhongshan district, taipei city Taiwan Reported Earnings • Mar 13
Full year 2024 earnings released: EPS: NT$11.49 (vs NT$4.66 in FY 2023) Full year 2024 results: EPS: NT$11.49 (up from NT$4.66 in FY 2023). Revenue: NT$1.62b (up 37% from FY 2023). Net income: NT$416.9m (up 150% from FY 2023). Profit margin: 26% (up from 14% 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 23% per year whereas the company’s share price has increased by 26% per year. Aankondiging • Mar 04
Thai Kin Co., Ltd. to Report Fiscal Year 2024 Results on Mar 11, 2025 Thai Kin Co., Ltd. announced that they will report fiscal year 2024 results at 9:00 AM, Taipei Standard Time on Mar 11, 2025 Upcoming Dividend • Dec 11
Upcoming dividend of NT$5.00 per share Eligible shareholders must have bought the stock before 18 December 2024. Payment date: 22 January 2025. Payout ratio is on the higher end at 77%, and the cash payout ratio is above 100%. Trailing yield: 8.0%. Within top quartile of Taiwanese dividend payers (4.5%). Higher than average of industry peers (3.5%). Aankondiging • Dec 04
Thai Kin Co., Ltd. to Report Q3, 2024 Results on Nov 12, 2024 Thai Kin Co., Ltd. announced that they will report Q3, 2024 results on Nov 12, 2024 Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$2.13 (vs NT$1.79 in 3Q 2023) Third quarter 2024 results: EPS: NT$2.13 (up from NT$1.79 in 3Q 2023). Revenue: NT$495.7m (up 53% from 3Q 2023). Net income: NT$76.3m (up 19% from 3Q 2023). Profit margin: 15% (down from 20% 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 29% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Nov 05
Now 21% undervalued Over the last 90 days, the stock has risen 6.6% to NT$129. The fair value is estimated to be NT$163, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.7% over the last 3 years, while earnings per share has been flat. Buy Or Sell Opportunity • Oct 11
Now 21% undervalued Over the last 90 days, the stock has risen 9.4% to NT$128. The fair value is estimated to be NT$161, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.7% over the last 3 years, while earnings per share has been flat. Reported Earnings • Sep 03
Second quarter 2024 earnings released: EPS: NT$2.49 (vs NT$1.38 in 2Q 2023) Second quarter 2024 results: EPS: NT$2.49 (up from NT$1.38 in 2Q 2023). Revenue: NT$355.6m (up 20% from 2Q 2023). Net income: NT$88.8m (up 80% from 2Q 2023). Profit margin: 25% (up from 17% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 34% per year, which means it is well ahead of earnings. Aankondiging • Aug 20
Thai Kin Co., Ltd. to Report Q2, 2024 Results on Aug 27, 2024 Thai Kin Co., Ltd. announced that they will report Q2, 2024 results on Aug 27, 2024 Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$129, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 17x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 122% over the past three years. Aankondiging • Jun 28
Thai Kin Co., Ltd. announced that it expects to receive TWD 30 million in funding Thai Kin Co., Ltd. announced a private placement to issue 3,000,000 common shares at an issue price of TWD 10 per share for the gross proceeds of TWD 30,000,000 on June 26, 2024. The transaction has been approved by shareholders of company. Declared Dividend • Jun 27
Dividend of NT$2.00 announced Shareholders will receive a dividend of NT$2.00. Ex-date: 11th July 2024 Payment date: 7th August 2024 Dividend yield will be 2.9%, which is lower than the industry average of 4.1%. Sustainability & Growth Dividend is covered by both earnings (67% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 21% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • May 28
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 Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$3.66 (vs NT$0.66 in 1Q 2023) First quarter 2024 results: EPS: NT$3.66 (up from NT$0.66 in 1Q 2023). Revenue: NT$421.7m (up 82% from 1Q 2023). Net income: NT$130.7m (up 455% from 1Q 2023). Profit margin: 31% (up from 10% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$113, the stock trades at a trailing P/E ratio of 24.1x. Average trailing P/E is 18x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 97% over the past three years. Buy Or Sell Opportunity • May 14
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 81% to NT$113. The fair value is estimated to be NT$90.86, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 4.6% over the last 3 years. Earnings per share has declined by 20%. Aankondiging • May 03
Thai Kin Co., Ltd. to Report Q1, 2024 Results on May 10, 2024 Thai Kin Co., Ltd. announced that they will report Q1, 2024 results on May 10, 2024 New Risk • Apr 10
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). Market cap is less than US$100m (NT$3.10b market cap, or US$96.8m). Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$85.00, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 19x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 41% over the past three years. Reported Earnings • Mar 17
Full year 2023 earnings released: EPS: NT$4.66 (vs NT$4.53 in FY 2022) Full year 2023 results: EPS: NT$4.66 (up from NT$4.53 in FY 2022). Revenue: NT$1.18b (down 12% from FY 2022). Net income: NT$166.5m (up 3.0% from FY 2022). Profit margin: 14% (up from 12% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Aankondiging • Mar 14
Thai Kin Co., Ltd., Annual General Meeting, Jun 26, 2024 Thai Kin Co., Ltd., Annual General Meeting, Jun 26, 2024. Location: Room CC,15F.,No.99,Fuxing N.Rd, Songshan District, Taipei City 105, Taiwan (R.O.C.) Taipei City Taiwan Agenda: To consider The Company's 2023 2023 business report; to consider Audit Committee's review report on 2023 Financial Statements; to consider Report on 2023 employees' and directors' remuneration; to consider Report on Cash Dividends of Earnings Distribution for 2023; to consider Report on the Performance Assessments of the Directors and Managers and the Connection Between and Reasonableness of the Contents and Amounts of Their Compensation and Performance Assessment Results. Buy Or Sell Opportunity • Mar 13
Now 21% undervalued Over the last 90 days, the stock has risen 48% to NT$77.70. The fair value is estimated to be NT$98.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 18%. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$78.40, the stock trades at a trailing P/E ratio of 19.1x. Average trailing P/E is 17x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 38% over the past three years. Upcoming Dividend • Dec 27
Upcoming dividend of NT$1.50 per share at 5.6% yield Eligible shareholders must have bought the stock before 03 January 2024. Payment date: 05 February 2024. Payout ratio is a comfortable 67% and this is well supported by cash flows. Trailing yield: 5.6%. Within top quartile of Taiwanese dividend payers (5.1%). Higher than average of industry peers (4.1%). Aankondiging • Dec 16
Thai Kin Co., Ltd. Announces Cash Dividend, Payable on February 5, 2024 Thai Kin Co., Ltd. announced cash dividend of TWD 53,574,249, with a cash dividend of TWD 1.5 per share. Ex-rights (Ex-dividend) date is January 3, 2024. Ex-rights (Ex-dividend) record date is January 9, 2024. Payment date of cash dividend distribution is February 5, 2024. Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: NT$1.38 (vs NT$0.63 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.38 (up from NT$0.63 in 2Q 2022). Revenue: NT$295.9m (down 17% from 2Q 2022). Net income: NT$49.3m (up 121% from 2Q 2022). Profit margin: 17% (up from 6.2% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 6% per year. Upcoming Dividend • Jul 07
Upcoming dividend of NT$1.27 per share at 4.7% yield Eligible shareholders must have bought the stock before 14 July 2023. Payment date: 16 August 2023. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (4.1%). Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: NT$4.53 (vs NT$6.51 in FY 2021) Full year 2022 results: EPS: NT$4.53 (down from NT$6.51 in FY 2021). Revenue: NT$1.35b (flat on FY 2021). Net income: NT$161.7m (down 30% from FY 2021). Profit margin: 12% (down from 17% in FY 2021). Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 2% per year. Upcoming Dividend • Jan 04
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 11 January 2023. Payment date: 15 February 2023. Payout ratio is a comfortable 17% but the company is paying out more than the cash it is generating. Trailing yield: 6.9%. Within top quartile of Taiwanese dividend payers (6.9%). Higher than average of industry peers (5.0%). Aankondiging • Dec 15
Thai Kin Co., Ltd. Announces Cash Dividends, Payable on February 15, 2023 Thai Kin Co., Ltd. announced cash dividend of TWD 35,714,166, with a cash dividend of TWD 1 per share. Ex-rights (Ex-dividend) date is January 11, 2023. Ex-rights (Ex-dividend) record date is January 17, 2023. Payment date of cash dividend distribution is February 15, 2023. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 6 non-independent directors. Independent Director An-Tso Chang was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director An-Tso Chang was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 25
Second quarter 2022 earnings released: EPS: NT$0.63 (vs NT$1.47 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.63 (down from NT$1.47 in 2Q 2021). Revenue: NT$358.0m (up 4.6% from 2Q 2021). Net income: NT$22.3m (down 57% from 2Q 2021). Profit margin: 6.2% (down from 15% in 2Q 2021). The decrease in margin was driven by higher 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 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 07
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 14 July 2022. Payment date: 16 August 2022. Payout ratio is a comfortable 53% but the company is paying out more than the cash it is generating. Trailing yield: 5.9%. Lower than top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (5.1%). Reported Earnings • May 17
First quarter 2022 earnings released: EPS: NT$1.54 (vs NT$2.00 in 1Q 2021) First quarter 2022 results: EPS: NT$1.54 (down from NT$2.00 in 1Q 2021). Revenue: NT$320.6m (down 12% from 1Q 2021). Net income: NT$55.0m (down 23% from 1Q 2021). Profit margin: 17% (down from 20% in 1Q 2021). The decrease in margin was driven by lower revenue. Buying Opportunity • May 04
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 2.6%. The fair value is estimated to be NT$73.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 28%. Board Change • Apr 28
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Rebecca Wu was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 28
Full year 2021 earnings released: EPS: NT$6.51 (vs NT$6.61 in FY 2020) Full year 2021 results: EPS: NT$6.51. Revenue: NT$1.36b (up 7.5% from FY 2020). Net income: NT$231.7m (up 3.6% from FY 2020). Profit margin: 17% (in line with FY 2020). Aankondiging • Mar 23
Thai Kin Co., Ltd., Annual General Meeting, Jun 17, 2022 Thai Kin Co., Ltd., Annual General Meeting, Jun 17, 2022. Location: Primasia Conference & Business Center Room CC,15F.,No.99,Fuxing N.Rd.,Songshan District Taipei City Taiwan Agenda: To consider and approve 2021 Annual Business Report; to consider Audit Committee's review report of the 2021; to consider report on 2021 employees' and directors' remuneration; to consider report on cash dividends of earnings distribution for 2021; to consider report on amendments to the company's social responsibility principles; and to consider other matters. Upcoming Dividend • Dec 16
Upcoming dividend of NT$2.20 per share Eligible shareholders must have bought the stock before 23 December 2021. Payment date: 20 January 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 7.0%. Within top quartile of Taiwanese dividend payers (5.1%). Higher than average of industry peers (3.9%). Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$1.36 (vs NT$2.66 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$276.9m (down 18% from 3Q 2020). Net income: NT$48.6m (down 46% from 3Q 2020). Profit margin: 18% (down from 27% in 3Q 2020). The decrease in margin was driven by lower revenue. Reported Earnings • Sep 01
Second quarter 2021 earnings released: EPS NT$1.47 (vs NT$1.39 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: NT$342.1m (up 22% from 2Q 2020). Net income: NT$52.3m (up 12% from 2Q 2020). Profit margin: 15% (down from 17% in 2Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$2.00 (vs NT$1.39 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$364.5m (up 37% from 1Q 2020). Net income: NT$71.1m (up 53% from 1Q 2020). Profit margin: 20% (up from 18% in 1Q 2020). The increase in margin was driven by higher revenue. Upcoming Dividend • Apr 08
Upcoming dividend of NT$4.49 per share Eligible shareholders must have bought the stock before 15 April 2021. Payment date: 20 May 2021. Trailing yield: 6.2%. Within top quartile of Taiwanese dividend payers (4.8%). Higher than average of industry peers (3.3%). Reported Earnings • Mar 25
Full year 2020 earnings released: EPS NT$6.61 (vs NT$4.38 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.26b (up 26% from FY 2019). Net income: NT$223.7m (up 59% from FY 2019). Profit margin: 18% (up from 14% in FY 2019). The increase in margin was driven by higher revenue. Is New 90 Day High Low • Mar 13
New 90-day high: NT$72.90 The company is up 8.0% from its price of NT$67.80 on 11 December 2020. The Taiwanese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 15% over the same period. Is New 90 Day High Low • Jan 18
New 90-day low: NT$63.10 The company is down 4.0% from its price of NT$65.60 on 21 October 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 7.0% over the same period. Reported Earnings • Nov 12
Third quarter 2020 earnings released: EPS NT$2.66 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$336.7m (up 21% from 3Q 2019). Net income: NT$89.1m (up 144% from 3Q 2019). Profit margin: 27% (up from 13% in 3Q 2019). The increase in margin was driven by higher revenue. Is New 90 Day High Low • Nov 04
New 90-day high: NT$67.80 The company is up 22% from its price of NT$55.70 on 06 August 2020. The Taiwanese market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 3.0% over the same period. Is New 90 Day High Low • Oct 05
New 90-day high: NT$63.80 The company is up 9.0% from its price of NT$58.70 on 07 July 2020. The Taiwanese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 3.0% over the same period.