Reported Earnings • May 19
First quarter 2026 earnings released: EPS: NT$0.01 (vs NT$0.25 in 1Q 2025) First quarter 2026 results: EPS: NT$0.01 (down from NT$0.25 in 1Q 2025). Revenue: NT$855.3m (down 13% from 1Q 2025). Net income: NT$4.15m (down 95% from 1Q 2025). Profit margin: 0.5% (down from 8.6% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 23% 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 13
Hsing Ta Cement Co.,Ltd, Annual General Meeting, Jun 16, 2026 Hsing Ta Cement Co.,Ltd, Annual General Meeting, Jun 16, 2026. Location: 6-6 floor no,51, heng yang rd., jhongjheng district, taipei city Taiwan Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: NT$1.03 (vs NT$1.38 in FY 2024) Full year 2025 results: EPS: NT$1.03 (down from NT$1.38 in FY 2024). Revenue: NT$4.43b (down 4.8% from FY 2024). Net income: NT$351.2m (down 25% from FY 2024). Profit margin: 7.9% (down from 10% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 13% 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. Reported Earnings • Nov 17
Third quarter 2025 earnings released: EPS: NT$0.31 (vs NT$0.18 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.31 (up from NT$0.18 in 3Q 2024). Revenue: NT$1.06b (flat on 3Q 2024). Net income: NT$104.7m (up 69% from 3Q 2024). Profit margin: 9.9% (up from 5.9% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has remained flat, which means it is well ahead of earnings. New Risk • Aug 16
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 93% Cash payout ratio: 154% Dividend yield: 5.6% 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. Payout ratio: 93% Cash payout ratio: 154% Earnings have declined by 18% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (7.4% net profit margin). Reported Earnings • Aug 16
Second quarter 2025 earnings released: EPS: NT$0.24 (vs NT$0.56 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.24 (down from NT$0.56 in 2Q 2024). Revenue: NT$1.26b (down 8.1% from 2Q 2024). Net income: NT$82.6m (down 56% from 2Q 2024). Profit margin: 6.5% (down from 14% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 3% per year. Upcoming Dividend • Jul 10
Upcoming dividend of NT$0.90 per share Eligible shareholders must have bought the stock before 17 July 2025. Payment date: 15 August 2025. Payout ratio is a comfortable 71% but the company is paying out more than the cash it is generating. Trailing yield: 5.4%. Within top quartile of Taiwanese dividend payers (5.4%). In line with average of industry peers (5.0%). Declared Dividend • Jun 25
Dividend reduced to NT$0.90 Dividend of NT$0.90 is 25% lower than last year. Ex-date: 17th July 2025 Payment date: 15th August 2025 Dividend yield will be 5.3%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by earnings (71% earnings payout ratio) but not covered by cash flows (dividend approximately 45x free cash flows). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 22% to shift the payout ratio to a potentially unsustainable range, which is more than the 14% EPS decline seen over the last 5 years. Aankondiging • Jun 20
Hsing Ta Cement Co., Ltd. Approves Cash Dividend for 2024 Hsing Ta Cement Co. Ltd. at its 2025 Shareholders' Meeting held on June 19, 2025, approved a cash dividend of TWD 0.9 per share for the year 2024. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: NT$0.25 (vs NT$0.35 in 1Q 2024) First quarter 2025 results: EPS: NT$0.25 (down from NT$0.35 in 1Q 2024). Revenue: NT$987.5m (down 10.0% from 1Q 2024). Net income: NT$84.5m (down 29% from 1Q 2024). Profit margin: 8.6% (down from 11% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 4% per year. Aankondiging • May 06
Hsing Ta Cement Co.,Ltd to Report Q1, 2025 Results on May 13, 2025 Hsing Ta Cement Co.,Ltd announced that they will report Q1, 2025 results on May 13, 2025 Aankondiging • Apr 01
Hsing Ta Cement Co.,Ltd, Annual General Meeting, Jun 19, 2025 Hsing Ta Cement Co.,Ltd, Annual General Meeting, Jun 19, 2025, at 09:00 Taipei Standard Time. Location: 6-6 floor no,51, heng yang rd., jhongjheng district, taipei city Taiwan Reported Earnings • Mar 15
Full year 2024 earnings released: EPS: NT$1.38 (vs NT$2.01 in FY 2023) Full year 2024 results: EPS: NT$1.38 (down from NT$2.01 in FY 2023). Revenue: NT$4.66b (down 26% from FY 2023). Net income: NT$469.4m (down 32% from FY 2023). Profit margin: 10% (in line with FY 2023). Over the last 3 years on average, earnings per share has fallen by 4% per year and the company’s share price has also fallen by 4% per year. Aankondiging • Mar 06
Hsing Ta Cement Co.,Ltd to Report Fiscal Year 2024 Results on Mar 13, 2025 Hsing Ta Cement Co.,Ltd announced that they will report fiscal year 2024 results on Mar 13, 2025 Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: NT$0.18 (vs NT$0.34 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.18 (down from NT$0.34 in 3Q 2023). Revenue: NT$1.06b (down 34% from 3Q 2023). Net income: NT$62.0m (down 47% from 3Q 2023). Profit margin: 5.9% (down from 7.3% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 5% per year. Aankondiging • Nov 05
Hsing Ta Cement Co.,Ltd to Report Q3, 2024 Results on Nov 12, 2024 Hsing Ta Cement Co.,Ltd announced that they will report Q3, 2024 results on Nov 12, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.55 (vs NT$0.60 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.55 (down from NT$0.60 in 2Q 2023). Revenue: NT$1.38b (down 19% from 2Q 2023). Net income: NT$189.7m (down 7.4% from 2Q 2023). Profit margin: 14% (up from 12% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 17% 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 • Aug 06
Hsing Ta Cement Co.,Ltd to Report Q2, 2024 Results on Aug 13, 2024 Hsing Ta Cement Co.,Ltd announced that they will report Q2, 2024 results on Aug 13, 2024 Upcoming Dividend • Jul 11
Upcoming dividend of NT$1.20 per share Eligible shareholders must have bought the stock before 18 July 2024. Payment date: 15 August 2024. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 6.1%. Within top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (3.8%). Declared Dividend • Jun 23
Dividend increased to NT$1.20 Dividend of NT$1.20 is 50% higher than last year. Ex-date: 18th July 2024 Payment date: 15th August 2024 Dividend yield will be 6.1%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by both earnings (62% earnings payout ratio) and cash flows (61% cash payout ratio). The dividend has increased by an average of 9.9% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 31% to shift the payout ratio to a potentially unsustainable range, which is more than the 4.1% EPS decline seen over the last 5 years. Reported Earnings • May 10
First quarter 2024 earnings released: EPS: NT$0.35 (vs NT$0.41 in 1Q 2023) First quarter 2024 results: EPS: NT$0.35 (down from NT$0.41 in 1Q 2023). Revenue: NT$1.10b (down 18% from 1Q 2023). Net income: NT$119.1m (down 16% from 1Q 2023). Profit margin: 11% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 24% 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 • May 09
Hsing Ta Cement Co.,Ltd Proposes Cash Dividend for the Year 2023 Hsing Ta Cement Co.,Ltd announced that at its AGM to be held on June 19, 2024, to consider the 2023 profit distribution proposal adopted at the meeting of the board of directors lists as follows: The company allocated TWD 409,390,642 from the distribution surplus and cash dividends to common shareholders: Each common shareholder will be entitled to receive a cash dividend of TWD 1.2 per share. Aankondiging • May 03
Hsing Ta Cement Co.,Ltd to Report Q1, 2024 Results on May 08, 2024 Hsing Ta Cement Co.,Ltd announced that they will report Q1, 2024 results on May 08, 2024 Aankondiging • Mar 28
Hsing Ta Cement Co.,Ltd, Annual General Meeting, Jun 19, 2024 Hsing Ta Cement Co.,Ltd, Annual General Meeting, Jun 19, 2024. Reported Earnings • Mar 14
Full year 2023 earnings released: EPS: NT$2.01 (vs NT$1.17 in FY 2022) Full year 2023 results: EPS: NT$2.01 (up from NT$1.17 in FY 2022). Revenue: NT$6.26b (down 2.0% from FY 2022). Net income: NT$685.9m (up 72% from FY 2022). Profit margin: 11% (up from 6.2% 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 27% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: NT$0.60 (vs NT$0.063 loss in 2Q 2022) Second quarter 2023 results: EPS: NT$0.60 (up from NT$0.063 loss in 2Q 2022). Revenue: NT$1.70b (down 3.9% from 2Q 2022). Net income: NT$204.8m (up NT$226.4m from 2Q 2022). Profit margin: 12% (up from net loss in 2Q 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Upcoming Dividend • Jul 06
Upcoming dividend of NT$0.80 per share at 4.3% yield Eligible shareholders must have bought the stock before 13 July 2023. Payment date: 14 August 2023. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (3.2%). Aankondiging • Jul 01
Hsing Ta Cement Co.,Ltd Announces the Resignation of Li-Xiong Chen as Member of Remuneration Committee Hsing Ta Cement Co.,Ltd announced the resignation of Li-Xiong Chen as member of remuneration committee, due to personal career planning. Aankondiging • Jun 27
Hsing Ta Cement Co.,Ltd Approves Cash Dividend for 2022, Payable on August 14, 2023 Hsing Ta Cement Co.,Ltd at its Shareholders' Meeting held on 20 June 2023 approved that each common shareholder will be entitled to receive a cash dividend of TWD 0.8 per share for 2022. Ex-rights (ex-dividend) trading date: July 136, 2023. Ex-rights (ex-dividend) record date: July 21, 2023. Payment date of cash dividend distribution: August 14, 2023. Aankondiging • Jun 21
Hsing Ta Cement Co.,Ltd Approves Cash Dividend for 2022 Hsing Ta Cement Co.,Ltd at its Shareholders' Meeting held on 20 June 2023 approved that each common shareholder will be entitled to receive a cash dividend of TWD 0.8 per share for 2022. Reported Earnings • Mar 17
Full year 2022 earnings released: EPS: NT$1.17 (vs NT$2.52 in FY 2021) Full year 2022 results: EPS: NT$1.17 (down from NT$2.52 in FY 2021). Revenue: NT$6.39b (down 13% from FY 2021). Net income: NT$399.2m (down 54% from FY 2021). Profit margin: 6.2% (down from 12% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.63 (vs NT$0.31 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.63 (up from NT$0.31 in 3Q 2021). Revenue: NT$1.67b (up 14% from 3Q 2021). Net income: NT$215.3m (up 105% from 3Q 2021). Profit margin: 13% (up from 7.2% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 14% 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. 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. 5 non-independent directors. Independent Director Ruitai Wu was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.63 (vs NT$0.31 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.63 (up from NT$0.31 in 3Q 2021). Revenue: NT$1.67b (up 14% from 3Q 2021). Net income: NT$215.3m (up 105% from 3Q 2021). Profit margin: 13% (up from 7.2% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 14% 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. Reported Earnings • Aug 13
Second quarter 2022 earnings released: NT$0.06 loss per share (vs NT$0.47 profit in 2Q 2021) Second quarter 2022 results: NT$0.06 loss per share (down from NT$0.47 profit in 2Q 2021). Revenue: NT$1.77b (down 6.3% from 2Q 2021). Net loss: NT$21.6m (down 113% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Buying Opportunity • Aug 04
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 9.7%. The fair value is estimated to be NT$24.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Upcoming Dividend • Jul 28
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 04 August 2022. Payment date: 30 August 2022. Payout ratio is on the higher end at 77%, however this is supported by cash flows. Trailing yield: 7.6%. Within top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (4.6%). Buying Opportunity • Jul 15
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 6.9%. The fair value is estimated to be NT$24.54, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Buying Opportunity • Jun 30
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 7.7%. The fair value is estimated to be NT$24.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Aankondiging • Jun 29
Hsing Ta Cement Co., Ltd. Announces Cash Dividend, Payable on 30 August 2022 Hsing Ta Cement Co., Ltd. announced the cash dividend of TWD 1.5 per share. The dividend will paid on 30 August 2022. Ex-rights (ex-dividend) trading date: 04 August 2022 and Ex-rights (ex-dividend) record date: 10 August 2022. Buying Opportunity • Jun 13
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be NT$24.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Buying Opportunity • May 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 1.3%. The fair value is estimated to be NT$24.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.26 (vs NT$0.83 in 1Q 2021) First quarter 2022 results: EPS: NT$0.26 (down from NT$0.83 in 1Q 2021). Revenue: NT$1.24b (down 32% from 1Q 2021). Net income: NT$88.5m (down 69% from 1Q 2021). Profit margin: 7.1% (down from 16% in 1Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 4% per year. Board Change • Apr 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. 6 experienced directors. 3 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Jhengting Chen was the last independent director to join the board, commencing their role in 2018. 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 • Apr 01
Full year 2021 earnings released: EPS: NT$2.52 (vs NT$2.94 in FY 2020) Full year 2021 results: EPS: NT$2.52 (down from NT$2.94 in FY 2020). Revenue: NT$7.38b (down 2.8% from FY 2020). Net income: NT$862.9m (down 14% from FY 2020). Profit margin: 12% (down from 13% in FY 2020). The decrease in margin was driven by lower revenue. 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 10% per year. Aankondiging • Apr 01
Hsing Ta Cement Co., Ltd. Announces the Change of Acting Spokesperson Hsing Ta Cement Co., Ltd. announced the change of acting spokesperson. Name, title, and resume of the previous position holder is YU,MEI-HUA, financial & accounting assitant manager. Name, title, and resume of the new position holder is TSAI,SU-CHIU, financial & accounting manager. Date of occurrence of the change was March 30, 2022. Aankondiging • Mar 31
Hsing Ta Cement Co., Ltd. Proposes Dividend Hsing Ta Cement Co., Ltd. proposed dividend of TWD 1.5 per share. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS NT$0.31 (vs NT$0.80 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.46b (down 25% from 3Q 2020). Net income: NT$105.2m (down 61% from 3Q 2020). Profit margin: 7.2% (down from 14% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 13% per year. Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment improved over the past week After last week's 16% share price gain to NT$24.00, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 10x in the Basic Materials industry in Taiwan. Total returns to shareholders of 89% over the past three years. Reported Earnings • Aug 16
Second quarter 2021 earnings released: EPS NT$0.47 (vs NT$0.66 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.89b (down 9.8% from 2Q 2020). Net income: NT$161.4m (down 28% from 2Q 2020). Profit margin: 8.6% (down from 11% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 27
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 03 August 2021. Payment date: 27 August 2021. Trailing yield: 5.8%. Within top quartile of Taiwanese dividend payers (4.9%). In line with average of industry peers (6.3%). Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.83 (vs NT$0.27 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.81b (up 56% from 1Q 2020). Net income: NT$284.4m (up 211% from 1Q 2020). Profit margin: 16% (up from 7.8% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 20% per year. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improved over the past week After last week's 17% share price gain to NT$28.15, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 12x in the Basic Materials industry in Taiwan. Total returns to shareholders of 128% over the past three years. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$2.94 (vs NT$2.82 in FY 2019) The company reported a mediocre full year result with weaker revenues, although profit margins were flat and earnings improved. Full year 2020 results: Revenue: NT$7.59b (down 2.9% from FY 2019). Net income: NT$1.00b (up 4.2% from FY 2019). Profit margin: 13% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 16% per year. Is New 90 Day High Low • Jan 20
New 90-day low: NT$18.35 The company is down 4.0% from its price of NT$19.20 on 22 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 3.0% over the same period. Is New 90 Day High Low • Dec 01
New 90-day high: NT$20.70 The company is up 12% from its price of NT$18.45 on 02 September 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 3.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.79 The company reported a poor third quarter result with weaker earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: NT$1.96b (down 4.4% from 3Q 2019). Net income: NT$271.8m (down 4.6% from 3Q 2019). Profit margin: 14% (in line with 3Q 2019). Over the last 3 years on average, earnings per share has increased by 26% 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 • Sep 18
New 90-day high: NT$20.50 The company is up 14% from its price of NT$18.05 on 19 June 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 5.0% over the same period.