New Risk • May 11
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 113% Cash payout ratio: 116% Dividend yield: 6.0% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 113% Cash payout ratio: 116% Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.7% net profit margin). Reported Earnings • May 11
First quarter 2026 earnings released: EPS: NT$0.47 (vs NT$1.34 in 1Q 2025) First quarter 2026 results: EPS: NT$0.47 (down from NT$1.34 in 1Q 2025). Revenue: NT$1.53b (up 13% from 1Q 2025). Net income: NT$92.3m (down 65% from 1Q 2025). Profit margin: 6.0% (down from 20% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 09
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 16 April 2026. Payment date: 18 May 2026. Payout ratio is a comfortable 57% but the company is not cash flow positive. Trailing yield: 5.5%. Within top quartile of Taiwanese dividend payers (5.1%). Higher than average of industry peers (4.9%). New Risk • Mar 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 175% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Declared Dividend • Mar 12
Dividend of NT$1.00 announced Dividend of NT$1.00 is the same as last year. Ex-date: 16th April 2026 Payment date: 18th May 2026 Dividend yield will be 5.6%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (57% 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 decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 17% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 11
Full year 2025 earnings released: EPS: NT$1.76 (vs NT$1.22 in FY 2024) Full year 2025 results: EPS: NT$1.76 (up from NT$1.22 in FY 2024). Revenue: NT$6.26b (down 2.5% from FY 2024). Net income: NT$349.1m (up 44% from FY 2024). Profit margin: 5.6% (up from 3.8% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. New Risk • Nov 26
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 225% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Reported Earnings • Nov 08
Third quarter 2025 earnings released: EPS: NT$0.55 (vs NT$0.43 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.55 (up from NT$0.43 in 3Q 2024). Revenue: NT$1.56b (down 4.5% from 3Q 2024). Net income: NT$108.5m (up 26% from 3Q 2024). Profit margin: 7.0% (up from 5.3% 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 20% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 09
Second quarter 2025 earnings released: NT$0.44 loss per share (vs NT$0.33 profit in 2Q 2024) Second quarter 2025 results: NT$0.44 loss per share (down from NT$0.33 profit in 2Q 2024). Revenue: NT$1.78b (up 8.9% from 2Q 2024). Net loss: NT$87.8m (down 236% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 8% per year. New Risk • May 30
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 90% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: NT$1.34 (vs NT$0.15 in 1Q 2024) First quarter 2025 results: EPS: NT$1.34 (up from NT$0.15 in 1Q 2024). Revenue: NT$1.35b (down 20% from 1Q 2024). Net income: NT$266.0m (up NT$237.2m from 1Q 2024). Profit margin: 20% (up from 1.7% in 1Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 35% 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. Aankondiging • May 01
Nien Hsing Textile Co., Ltd. to Report Q1, 2025 Results on May 09, 2025 Nien Hsing Textile Co., Ltd. announced that they will report Q1, 2025 results on May 09, 2025 Upcoming Dividend • Apr 10
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 17 April 2025. Payment date: 19 May 2025. Payout ratio is on the higher end at 82%, and the cash payout ratio is above 100%. Trailing yield: 5.6%. Lower than top quartile of Taiwanese dividend payers (6.1%). Higher than average of industry peers (4.9%). Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$18.10, the stock trades at a trailing P/E ratio of 15.3x. Average trailing P/E is 17x in the Luxury industry in Taiwan. Total returns to shareholders of 7.3% over the past three years. Reported Earnings • Mar 14
Full year 2024 earnings released: EPS: NT$1.22 (vs NT$1.83 loss in FY 2023) Full year 2024 results: EPS: NT$1.22 (up from NT$1.83 loss in FY 2023). Revenue: NT$6.42b (up 1.0% from FY 2023). Net income: NT$242.2m (up NT$605.1m from FY 2023). Profit margin: 3.8% (up from net loss in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Aankondiging • Mar 13
Nien Hsing Textile Co., Ltd., Annual General Meeting, Jun 17, 2025 Nien Hsing Textile Co., Ltd., Annual General Meeting, Jun 17, 2025, at 09:00 Taipei Standard Time. Location: 13 floor no,306, sec.1 nei hu rd., neihu district, taipei city Taiwan Aankondiging • Mar 12
Nien Hsing Textile Co., Ltd. Approves Cash Dividend for the Year Ended December 31, 2024 Nien Hsing Textile Co., Ltd. approved cash dividend of 1.0 per share for the year ended December 31, 2024. Total amount of cash distributed to shareholders: TWD 198,000,000. Aankondiging • Mar 04
Nien Hsing Textile Co., Ltd. to Report Q4, 2024 Results on Mar 11, 2025 Nien Hsing Textile Co., Ltd. announced that they will report Q4, 2024 results on Mar 11, 2025 Reported Earnings • Nov 09
Third quarter 2024 earnings released: EPS: NT$0.44 (vs NT$0.031 loss in 3Q 2023) Third quarter 2024 results: EPS: NT$0.44 (up from NT$0.031 loss in 3Q 2023). Revenue: NT$1.63b (flat on 3Q 2023). Net income: NT$86.2m (up NT$92.2m from 3Q 2023). Profit margin: 5.3% (up from net loss in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Aankondiging • Oct 29
Nien Hsing Textile Co., Ltd. to Report Q3, 2024 Results on Nov 05, 2024 Nien Hsing Textile Co., Ltd. announced that they will report Q3, 2024 results on Nov 05, 2024 Reported Earnings • Aug 07
Second quarter 2024 earnings released: EPS: NT$0.33 (vs NT$0.13 loss in 2Q 2023) Second quarter 2024 results: EPS: NT$0.33 (up from NT$0.13 loss in 2Q 2023). Revenue: NT$1.63b (down 6.8% from 2Q 2023). Net income: NT$64.4m (up NT$89.6m from 2Q 2023). Profit margin: 3.9% (up from net loss in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Aankondiging • Jul 24
Nien Hsing Textile Co., Ltd. to Report Q2, 2024 Results on Aug 02, 2024 Nien Hsing Textile Co., Ltd. announced that they will report Q2, 2024 results on Aug 02, 2024 Declared Dividend • Jun 20
Dividend reduced to NT$0.50 Dividend of NT$0.50 is 75% lower than last year. Ex-date: 4th July 2024 Payment date: 2nd August 2024 Dividend yield will be 2.4%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (26% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Reported Earnings • May 09
First quarter 2024 earnings released: EPS: NT$0.15 (vs NT$1.08 loss in 1Q 2023) First quarter 2024 results: EPS: NT$0.15 (up from NT$1.08 loss in 1Q 2023). Revenue: NT$1.69b (up 12% from 1Q 2023). Net income: NT$28.8m (up NT$242.1m from 1Q 2023). Profit margin: 1.7% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Aankondiging • Apr 28
Nien Hsing Textile Co., Ltd. to Report Q1, 2024 Results on May 06, 2024 Nien Hsing Textile Co., Ltd. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 06, 2024 New Risk • Mar 13
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. Cash payout ratio: 107% Dividend yield: 10% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 107% Earnings have declined by 6.0% per year over the past 5 years. Board Change • Feb 21
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. 6 non-independent directors. Director Jih Chao Lee was the last director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Nov 23
Nien Hsing Textile Co., Ltd. Announce to Suspend Operation of Houlong Factory Nien Hsing Textile Co., Ltd. announced that Houlong Denim Factory will fully suspend the operation after existing orders are digested. In accordance with the law, the Company will also notify comptent authorities and offer employees severance pay. (1) The price of cotton, the main raw material of denim fabrics, fluctuates violently. (2) Houlong Denim Factory is facing serious labor shortage and difficult to recruit workers. (3) Global inflation suppresses consumer demand, causing serious order shrinkage. Reported Earnings • Nov 05
Third quarter 2023 earnings released: NT$0.03 loss per share (vs NT$0.57 profit in 3Q 2022) Third quarter 2023 results: NT$0.03 loss per share (down from NT$0.57 profit in 3Q 2022). Revenue: NT$1.63b (down 32% from 3Q 2022). Net loss: NT$6.05m (down 105% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. New Risk • Aug 06
New major risk - Revenue and earnings growth Earnings have declined by 1.6% 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 1.6% per year over the past 5 years. Minor Risk Paying a dividend despite being loss-making. Reported Earnings • Aug 05
Second quarter 2023 earnings released: NT$0.13 loss per share (vs NT$0.85 profit in 2Q 2022) Second quarter 2023 results: NT$0.13 loss per share (down from NT$0.85 profit in 2Q 2022). Revenue: NT$1.75b (down 29% from 2Q 2022). Net loss: NT$25.2m (down 115% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 26
Upcoming dividend of NT$2.00 per share at 9.1% yield Eligible shareholders must have bought the stock before 03 July 2023. Payment date: 01 August 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 9.1%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.4%). Reported Earnings • Mar 16
Full year 2022 earnings released: EPS: NT$2.15 (vs NT$1.23 in FY 2021) Full year 2022 results: EPS: NT$2.15 (up from NT$1.23 in FY 2021). Revenue: NT$8.70b (up 8.5% from FY 2021). Net income: NT$426.5m (up 76% from FY 2021). Profit margin: 4.9% (up from 3.0% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
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. 6 non-independent directors. Chairman of the Board Vincent Chen was the last director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 06
Third quarter 2022 earnings released: EPS: NT$0.57 (vs NT$0.46 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.57 (up from NT$0.46 in 3Q 2021). Revenue: NT$2.41b (up 3.6% from 3Q 2021). Net income: NT$112.0m (up 24% from 3Q 2021). Profit margin: 4.6% (up from 3.9% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Aug 07
Second quarter 2022 earnings released: EPS: NT$0.85 (vs NT$0.051 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.85 (up from NT$0.051 in 2Q 2021). Revenue: NT$2.47b (up 33% from 2Q 2021). Net income: NT$169.0m (up NT$158.8m from 2Q 2021). Profit margin: 6.8% (up from 0.5% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 04
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 11 July 2022. Payment date: 08 September 2022. Payout ratio is a comfortable 55% but the company is not cash flow positive. Trailing yield: 4.4%. Lower than top quartile of Taiwanese dividend payers (6.7%). In line with average of industry peers (4.1%). Reported Earnings • May 09
First quarter 2022 earnings released: EPS: NT$0.94 (vs NT$0.33 in 1Q 2021) First quarter 2022 results: EPS: NT$0.94 (up from NT$0.33 in 1Q 2021). Revenue: NT$1.97b (up 14% from 1Q 2021). Net income: NT$185.7m (up 181% from 1Q 2021). Profit margin: 9.4% (up from 3.8% in 1Q 2021). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 6% per year, which means it is significantly lagging 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. 6 non-independent directors. Director Rong Hwa Fang was the last 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. Aankondiging • Apr 02
Nien Hsing Textile Co., Ltd., Annual General Meeting, Jun 23, 2022 Nien Hsing Textile Co., Ltd., Annual General Meeting, Jun 23, 2022. Reported Earnings • Mar 14
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$1.23 (up from NT$2.14 loss in FY 2020). Revenue: NT$8.01b (up 14% from FY 2020). Net income: NT$242.7m (up NT$665.8m from FY 2020). Profit margin: 3.0% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$0.46 (vs NT$0.21 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$2.33b (up 13% from 3Q 2020). Net income: NT$90.4m (up NT$131.4m from 3Q 2020). Profit margin: 3.9% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$0.05 (vs NT$0.77 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$1.85b (up 71% from 2Q 2020). Net income: NT$10.1m (up NT$163.2m from 2Q 2020). Profit margin: 0.5% (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 87 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Aug 05
Upcoming dividend of NT$0.60 per share Eligible shareholders must have bought the stock before 12 August 2021. Payment date: 07 September 2021. Trailing yield: 2.7%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (2.4%). Reported Earnings • May 08
First quarter 2021 earnings released: EPS NT$0.33 (vs NT$1.18 loss in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: NT$1.74b (down 7.3% from 1Q 2020). Net income: NT$66.2m (up NT$298.7m from 1Q 2020). Profit margin: 3.8% (up from net loss in 1Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Aankondiging • Mar 19
Nien Hsing Textile Co., Ltd., Annual General Meeting, Jun 16, 2021 Nien Hsing Textile Co., Ltd., Annual General Meeting, Jun 16, 2021. Reported Earnings • Mar 18
Full year 2020 earnings released: NT$2.14 loss per share (vs NT$0.35 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: NT$7.02b (down 18% from FY 2019). Net loss: NT$423.1m (loss widened NT$353.4m from FY 2019). Over the last 3 years on average, earnings per share has fallen by 92% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 28
New 90-day low: NT$15.95 The company is down 1.0% from its price of NT$16.05 on 30 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 2.0% over the same period. Is New 90 Day High Low • Dec 24
New 90-day high: NT$17.20 The company is up 8.0% from its price of NT$15.95 on 25 September 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Luxury industry, which is also up 8.0% over the same period. Reported Earnings • Nov 08
Third quarter 2020 earnings released: NT$0.20 loss per share The company reported a poor third quarter result with increased losses and weaker revenues and control over expenses. Third quarter 2020 results: Revenue: NT$2.07b (down 5.8% from 3Q 2019). Net loss: NT$41.0m (loss widened 232% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 80% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Aankondiging • Sep 21
Nien Hsing Textile Co., Ltd.(TSEC:1451) dropped from S&P Global BMI Index Nien Hsing Textile Co., Ltd.(TSEC:1451) dropped from S&P Global BMI Index 