Buy Or Sell Opportunity • Jul 29
Now 22% undervalued Over the last 90 days, the stock has risen 13% to NT$47.30. The fair value is estimated to be NT$60.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.0% over the last 3 years. Earnings per share has grown by 40%. New Risk • Jul 28
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 9.1% 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 (9.1% average weekly change). Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$59.80, the stock trades at a trailing P/E ratio of 17.8x. Average trailing P/E is 34x in the Chemicals industry in Taiwan. Total returns to shareholders of 103% over the past three years. Buy Or Sell Opportunity • Jun 08
Now 27% undervalued Over the last 90 days, the stock has risen 22% to NT$44.20. The fair value is estimated to be NT$60.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.0% over the last 3 years. Earnings per share has grown by 40%. Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to NT$47.65, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 33x in the Chemicals industry in Taiwan. Total returns to shareholders of 54% over the past three years. Reported Earnings • May 17
First quarter 2026 earnings released: EPS: NT$1.11 (vs NT$1.03 in 1Q 2025) First quarter 2026 results: EPS: NT$1.11 (up from NT$1.03 in 1Q 2025). Revenue: NT$1.55b (up 2.3% from 1Q 2025). Net income: NT$277.6m (up 8.1% from 1Q 2025). Profit margin: 18% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Declared Dividend • May 13
Dividend reduced to NT$1.60 Dividend of NT$1.60 is 20% lower than last year. Ex-date: 28th May 2026 Payment date: 26th June 2026 Dividend yield will be 3.8%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (49% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 36% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Apr 30
Now 21% undervalued Over the last 90 days, the stock has risen 25% to NT$41.80. The fair value is estimated to be NT$52.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.9% over the last 3 years. Earnings per share has grown by 20%. Buy Or Sell Opportunity • Mar 25
Now 21% undervalued Over the last 90 days, the stock has risen 24% to NT$41.20. The fair value is estimated to be NT$52.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.9% over the last 3 years. Earnings per share has grown by 20%. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$46.20, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 26x in the Chemicals industry in Taiwan. Total returns to shareholders of 31% over the past three years. Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: NT$3.28 (vs NT$3.91 in FY 2024) Full year 2025 results: EPS: NT$3.28 (down from NT$3.91 in FY 2024). Revenue: NT$6.16b (down 3.3% from FY 2024). Net income: NT$817.9m (down 16% from FY 2024). Profit margin: 13% (down from 15% in FY 2024). 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 2% per year, which means it is significantly lagging earnings. Aankondiging • Feb 26
Sesoda Corporation, Annual General Meeting, May 20, 2026 Sesoda Corporation, Annual General Meeting, May 20, 2026. Location: no,120, hsin ch`eng 1st rd., su-ao township, yilan county Taiwan Reported Earnings • Nov 13
Third quarter 2025 earnings released: EPS: NT$1.07 (vs NT$1.17 in 3Q 2024) Third quarter 2025 results: EPS: NT$1.07 (down from NT$1.17 in 3Q 2024). Revenue: NT$1.56b (down 3.9% from 3Q 2024). Net income: NT$265.6m (down 8.8% from 3Q 2024). Profit margin: 17% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 10% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: NT$0.10 (vs NT$1.16 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.10 (down from NT$1.16 in 2Q 2024). Revenue: NT$1.45b (down 11% from 2Q 2024). Net income: NT$25.6m (down 91% from 2Q 2024). Profit margin: 1.8% (down from 18% in 2Q 2024). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 13% per year. Upcoming Dividend • May 21
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 28 May 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 5.3%. Within top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (2.8%). Aankondiging • May 17
Sesoda Corporation Approves Cash Dividend for the Year 2024 Sesoda Corporation announced at 2025 regular shareholders meeting held on May 16, 2025, approved acknowledgment of the 2024 earnings distribution: to distribute common stock cash dividends to shareholders of TWD 2 per share. Declared Dividend • May 07
Dividend increased to NT$2.00 Dividend of NT$2.00 is 33% higher than last year. Ex-date: 28th May 2025 Payment date: 26th June 2025 Dividend yield will be 5.7%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is well covered by both earnings (48% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 33% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 06
First quarter 2025 earnings released: EPS: NT$1.02 (vs NT$0.81 in 1Q 2024) First quarter 2025 results: EPS: NT$1.02 (up from NT$0.81 in 1Q 2024). Revenue: NT$1.52b (up 5.5% from 1Q 2024). Net income: NT$256.7m (up 27% from 1Q 2024). Profit margin: 17% (up from 14% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 15% per year. Aankondiging • Apr 22
Sesoda Corporation to Report Q1, 2025 Results on May 05, 2025 Sesoda Corporation announced that they will report Q1, 2025 results on May 05, 2025 Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to NT$28.90, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 17x in the Chemicals industry in Taiwan. Total loss to shareholders of 49% over the past three years. Reported Earnings • Mar 18
Full year 2024 earnings released: EPS: NT$3.91 (vs NT$0.11 loss in FY 2023) Full year 2024 results: EPS: NT$3.91 (up from NT$0.11 loss in FY 2023). Revenue: NT$6.37b (up 8.3% from FY 2023). Net income: NT$974.6m (up NT$1.00b from FY 2023). Profit margin: 15% (up from net loss in FY 2023). The move to profitability was primarily driven by lower expenses. 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 • Feb 11
Sesoda Corporation, Annual General Meeting, May 16, 2025 Sesoda Corporation, Annual General Meeting, May 16, 2025, at 09:00 Taipei Standard Time. Location: no,120, hsin ch`eng 1st rd., su-ao township, yilan county Taiwan Reported Earnings • Nov 10
Third quarter 2024 earnings released: EPS: NT$1.17 (vs NT$0.42 in 3Q 2023) Third quarter 2024 results: EPS: NT$1.17 (up from NT$0.42 in 3Q 2023). Revenue: NT$1.62b (up 16% from 3Q 2023). Net income: NT$291.2m (up 176% from 3Q 2023). Profit margin: 18% (up from 7.6% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Aankondiging • Oct 25
Sesoda Corporation to Report Q3, 2024 Results on Nov 08, 2024 Sesoda Corporation announced that they will report Q3, 2024 results on Nov 08, 2024 Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: NT$1.16 (vs NT$0.37 loss in 2Q 2023) Second quarter 2024 results: EPS: NT$1.16 (up from NT$0.37 loss in 2Q 2023). Revenue: NT$1.62b (up 15% from 2Q 2023). Net income: NT$289.1m (up NT$381.6m from 2Q 2023). Profit margin: 18% (up from net loss in 2Q 2023). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Aankondiging • Jul 27
Sesoda Corporation to Report Q2, 2024 Results on Aug 12, 2024 Sesoda Corporation announced that they will report Q2, 2024 results on Aug 12, 2024 Aankondiging • Jul 02
Sesoda Corporation Announces Sustainable Development Committee Changes Sesoda Corporation Board of Directors resolved Appointment of the Sustainable Development Committee members. Name and resume of the previous position holder: Hwang Chih-Cheng: General Manager of the Company. Name and resume of the new position holder: Shih Yueh-Hui: Chief Director of Suao Main Plant of the Company; Other members name and resume: Chen Rong-Yuan: Chairman of the Company; Chen Cheng-Te: Vice Chairman of the Company; Liu Chih-Yung: General Manager of the Company; Tsao Ming: Formosa Petrochemical Corporation Director/Chairman; Chu Jih-Chuan: Partner Lawyer of Liu, Chang & Partners. Reason for the change: The term has expired and a new appointment has been made by the Board of Directors. Effective date of the new member is July 01, 2024. New Risk • Jun 05
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 1,820% 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 High level of debt (50% net debt to equity). Paying a dividend despite being loss-making. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.4% net profit margin). Upcoming Dividend • May 24
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 31 May 2024. Payment date: 01 July 2024. The company is paying out more than 100% of its profits and is paying out 77% of its cash flow. Trailing yield: 4.3%. Lower than top quartile of Taiwanese dividend payers (4.4%). Higher than average of industry peers (2.1%). Reported Earnings • May 08
First quarter 2024 earnings released: EPS: NT$0.81 (vs NT$0.55 loss in 1Q 2023) First quarter 2024 results: EPS: NT$0.81 (up from NT$0.55 loss in 1Q 2023). Revenue: NT$1.44b (down 10% from 1Q 2023). Net income: NT$202.2m (up NT$339.0m from 1Q 2023). Profit margin: 14% (up from net loss in 1Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Reported Earnings • Mar 12
Full year 2023 earnings released: NT$0.11 loss per share (vs NT$4.84 profit in FY 2022) Full year 2023 results: NT$0.11 loss per share (down from NT$4.84 profit in FY 2022). Revenue: NT$5.88b (down 27% from FY 2022). Net loss: NT$28.5m (down 102% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Aankondiging • Feb 20
Sesoda Corporation, Annual General Meeting, May 21, 2024 Sesoda Corporation, Annual General Meeting, May 21, 2024. Location: No.120 Xincheng 1st Road, Suao Township, Yilan County Taiwan Agenda: To consider the 2023 Business Report; to consider the Audit Committee's review of the 2023 annual final accounting books and statements; to consider the Report on 2023 employees' and directors' remuneration; to consider the Report on 2023 earnings distribution into cash dividends; and to discuss other matters. New Risk • Nov 08
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.5x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.5x net interest cover). Minor Risk Paying a dividend despite being loss-making. Reported Earnings • Nov 08
Third quarter 2023 earnings released: EPS: NT$0.42 (vs NT$1.72 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.42 (down from NT$1.72 in 3Q 2022). Revenue: NT$1.39b (down 38% from 3Q 2022). Net income: NT$105.7m (down 75% from 3Q 2022). Profit margin: 7.6% (down from 19% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 08
Second quarter 2023 earnings released: NT$0.37 loss per share (vs NT$1.43 profit in 2Q 2022) Second quarter 2023 results: NT$0.37 loss per share (down from NT$1.43 profit in 2Q 2022). Revenue: NT$1.41b (down 28% from 2Q 2022). Net loss: NT$92.5m (down 126% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 29
Upcoming dividend of NT$3.00 per share at 7.7% yield Eligible shareholders must have bought the stock before 06 July 2023. Payment date: 03 August 2023. The company is paying out more than 100% of its profits and is paying out 96% of its cash flow. Trailing yield: 7.7%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.6%). Aankondiging • May 19
Sesoda Corporation Approves Cash Dividend Sesoda Corporation at the shareholders meeting held on May 18, 2023, approved cash dividends to shareholders of TWD 3 per common share. Reported Earnings • May 14
First quarter 2023 earnings released: NT$0.55 loss per share (vs NT$1.51 profit in 1Q 2022) First quarter 2023 results: NT$0.55 loss per share (down from NT$1.51 profit in 1Q 2022). Revenue: NT$1.61b (down 16% from 1Q 2022). Net loss: NT$136.8m (down 137% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 29
Full year 2022 earnings released: EPS: NT$4.84 (vs NT$2.69 in FY 2021) Full year 2022 results: EPS: NT$4.84 (up from NT$2.69 in FY 2021). Revenue: NT$8.03b (up 67% from FY 2021). Net income: NT$1.20b (up 80% from FY 2021). Profit margin: 15% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 7 highly experienced directors. 3 independent directors (7 non-independent directors). Independent Director Jih-Chuan Chu was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 11
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: NT$2.25b (up 85% from 3Q 2021). Net income: NT$427.3m (up 192% from 3Q 2021). Profit margin: 19% (up from 12% in 3Q 2021). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$41.20, the stock trades at a trailing P/E ratio of 8.4x. Average trailing P/E is 14x in the Chemicals industry in Taiwan. Total returns to shareholders of 107% over the past three years. Reported Earnings • Aug 11
Second quarter 2022 earnings released: EPS: NT$1.43 (vs NT$0.52 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.43 (up from NT$0.52 in 2Q 2021). Revenue: NT$1.96b (up 71% from 2Q 2021). Net income: NT$356.5m (up 173% from 2Q 2021). Profit margin: 18% (up from 11% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 14
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 21 July 2022. Payment date: 19 August 2022. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Taiwanese dividend payers (6.8%). Lower than average of industry peers (8.3%). Aankondiging • May 21
Sesoda Corporation Approves Cash Dividend Sesoda Corporation approved to distribute cash dividends to shareholders TWD 2 per common share, at its 2022 regular shareholders meeting held on May 20, 2022. Reported Earnings • May 11
First quarter 2022 earnings released: EPS: NT$1.51 (vs NT$0.21 in 1Q 2021) First quarter 2022 results: EPS: NT$1.51 (up from NT$0.21 in 1Q 2021). Revenue: NT$1.91b (up 126% from 1Q 2021). Net income: NT$375.1m (up NT$322.8m from 1Q 2021). Profit margin: 20% (up from 6.2% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 42% per year whereas the company’s share price has increased by 39% per year. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 8 experienced directors. No highly experienced directors. 2 independent directors (7 non-independent directors). Independent Director Hsin Wang Po 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. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improved over the past week After last week's 17% share price gain to NT$67.80, the stock trades at a trailing P/E ratio of 25.2x. Average trailing P/E is 18x in the Chemicals industry in Taiwan. Total returns to shareholders of 244% over the past three years. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improved over the past week After last week's 15% share price gain to NT$50.60, the stock trades at a trailing P/E ratio of 31.3x. Average trailing P/E is 17x in the Chemicals industry in Taiwan. Total returns to shareholders of 162% over the past three years. Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment improved over the past week After last week's 16% share price gain to NT$39.25, the stock trades at a trailing P/E ratio of 24.3x. Average trailing P/E is 18x in the Chemicals industry in Taiwan. Total returns to shareholders of 103% over the past three years. Aankondiging • Feb 17
Sesoda Corporation, Annual General Meeting, May 20, 2022 Sesoda Corporation, Annual General Meeting, May 20, 2022, at 09:00 Taipei Standard Time. Location: No.120 Xincheng 1st Road, Suao Township Yilan County Yilan Taiwan Agenda: To consider 2021 Business Report; to consider Report on 2021 employees' and directors' remuneration; to consider Audit Committee's review of the 2021 annual final accounting books and statements; to consider Report on 2021 earnings distribution into cash dividends; to consider Discussion of amendments to the Company's Articles of Incorporation; to consider Discussion of amendments to the Company's Operating Procedures of Fund Lending and Procedures for Endorsements & Guarantees; and consider any other matters. Aankondiging • Feb 11
Sesoda Corporation Announcement of Change in Representative of Juristic-Person Director Sesoda Corporation announced change in representative of juristic-person director. Name of legal person: San De International Investment Corporation.Name of the previous position holder: Hwang Chih-Cherng. Resume of the previous position holder: General Manager of Sesoda Corporation. Name of the new position holder: Fritz Yi-Teh Chen. Resume of the new position holder: Chairman of Sincere Industrial Corp. Reason for the change: San De International Investment Corporation assigned a new representative to serve as institutional director. Effective date of the new appointment: February 10, 2022. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.59 (vs NT$0.22 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.22b (up 22% from 3Q 2020). Net income: NT$146.5m (up 169% from 3Q 2020). Profit margin: 12% (up from 5.5% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Sep 04
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$29.10, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 16x in the Chemicals industry in Taiwan. Total returns to shareholders of 43% over the past three years. Upcoming Dividend • Aug 20
Upcoming dividend of NT$0.90 per share Eligible shareholders must have bought the stock before 27 August 2021. Payment date: 15 October 2021. Trailing yield: 2.5%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.0%). Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$0.57 (vs NT$0.08 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.15b (up 13% from 2Q 2020). Net income: NT$130.4m (up NT$112.2m from 2Q 2020). Profit margin: 11% (up from 1.8% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Executive Departure • Jul 14
Director Hsin-Jung Chao has left the company On the 5th of July, Hsin-Jung Chao's tenure as Director ended. We don't have any record of a personal shareholding under Hsin-Jung's name. A total of 2 executives have left over the last 12 months. Executive Departure • Jul 14
Independent Director Pei-Chun Chen has left the company On the 5th of July, Pei-Chun Chen's tenure as Independent Director ended after 3.1 years in the role. We don't have any record of a personal shareholding under Pei-Chun's name. A total of 2 executives have left over the last 12 months. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment improved over the past week After last week's 19% share price gain to NT$33.20, the stock trades at a trailing P/E ratio of 38.2x. Average trailing P/E is 16x in the Chemicals industry in Taiwan. Total returns to shareholders of 43% over the past three years. Reported Earnings • May 13
First quarter 2021 earnings released: EPS NT$0.23 (vs NT$0.12 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$846.4m (down 20% from 1Q 2020). Net income: NT$52.3m (up 86% from 1Q 2020). Profit margin: 6.2% (up from 2.7% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improved over the past week After last week's 21% share price gain to NT$30.70, the stock trades at a trailing P/E ratio of 40.3x. Average trailing P/E is 21x in the Chemicals industry in Taiwan. Total returns to shareholders of 28% over the past three years. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$0.76 (vs NT$1.20 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$4.03b (down 7.1% from FY 2019). Net income: NT$174.1m (down 37% from FY 2019). Profit margin: 4.3% (down from 6.3% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 37% 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. Aankondiging • Feb 23
Sesoda Corporation, Annual General Meeting, May 25, 2021 Sesoda Corporation, Annual General Meeting, May 25, 2021. Is New 90 Day High Low • Feb 05
New 90-day low: NT$21.55 The company is down 2.0% from its price of NT$22.10 on 06 November 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 8.0% over the same period. Is New 90 Day High Low • Jan 20
New 90-day low: NT$21.95 The company is down 3.0% from its price of NT$22.55 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 Chemicals industry, which is up 15% over the same period. Is New 90 Day High Low • Dec 21
New 90-day high: NT$24.30 The company is up 4.0% from its price of NT$23.45 on 22 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 8.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.24 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$997.5m (down 10% from 3Q 2019). Net income: NT$54.5m (down 15% from 3Q 2019). Profit margin: 5.5% (down from 5.8% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 39% 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.