Declared Dividend • Jun 20
Dividend reduced to NT$1.00 Dividend of NT$1.00 is 44% lower than last year. Ex-date: 14th July 2026 Payment date: 7th August 2026 Dividend yield will be 3.5%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is not covered by earnings (105% earnings payout ratio) nor is it adequately covered by cash flows (93% cash payout ratio). 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 grow by 17% to bring the payout ratio under control. However, EPS has declined by 17% over the last 5 years so the company would need to reverse this trend. Reported Earnings • May 09
First quarter 2026 earnings released: EPS: NT$0.13 (vs NT$0.25 in 1Q 2025) First quarter 2026 results: EPS: NT$0.13 (down from NT$0.25 in 1Q 2025). Revenue: NT$62.6m (down 6.9% from 1Q 2025). Net income: NT$4.56m (down 46% from 1Q 2025). Profit margin: 7.3% (down from 13% 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 29% 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 • May 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$30.85, the stock trades at a trailing P/E ratio of 29x. Average trailing P/E is 44x in the Semiconductor industry in Taiwan. Total returns to shareholders of 26% over the past three years. Reported Earnings • Mar 11
Full year 2025 earnings released: EPS: NT$1.06 (vs NT$1.87 in FY 2024) Full year 2025 results: EPS: NT$1.06 (down from NT$1.87 in FY 2024). Revenue: NT$281.1m (down 11% from FY 2024). Net income: NT$36.2m (down 43% from FY 2024). Profit margin: 13% (down from 20% 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 22% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Aankondiging • Mar 09
ETREND Hightech Corp., Annual General Meeting, Jun 16, 2026 ETREND Hightech Corp., Annual General Meeting, Jun 16, 2026. Location: 9 floor no,35, hsin t`ai rd., jhubei city, hsinchu county Taiwan Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$29.25, the stock trades at a trailing P/E ratio of 26.4x. Average trailing P/E is 32x in the Semiconductor industry in Taiwan. Total returns to shareholders of 44% over the past three years. Reported Earnings • Nov 11
Third quarter 2025 earnings released: EPS: NT$0.31 (vs NT$0.45 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.31 (down from NT$0.45 in 3Q 2024). Revenue: NT$74.2m (down 5.8% from 3Q 2024). Net income: NT$10.7m (down 30% from 3Q 2024). Profit margin: 14% (down from 19% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Aug 09
Second quarter 2025 earnings released: EPS: NT$0.13 (vs NT$0.58 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.13 (down from NT$0.58 in 2Q 2024). Revenue: NT$63.5m (down 24% from 2Q 2024). Net income: NT$4.43m (down 78% from 2Q 2024). Profit margin: 7.0% (down from 23% in 2Q 2024). The decrease in margin was driven by lower revenue. 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 3% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Aug 05
Now 22% overvalued Over the last 90 days, the stock has fallen 7.9% to NT$26.20. The fair value is estimated to be NT$21.51, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.4% over the last 3 years. Earnings per share has declined by 14%. Declared Dividend • Jun 23
Dividend reduced to NT$1.80 Dividend of NT$1.80 is 33% lower than last year. Ex-date: 10th July 2025 Payment date: 8th August 2025 Dividend yield will be 6.6%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is not covered by earnings (106% earnings payout ratio). However, it is covered by cash flows (79% cash payout ratio). The dividend has increased by an average of 18% 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 grow by 18% to bring the payout ratio under control. However, EPS has declined by 2.9% over the last 5 years so the company would need to reverse this trend. New Risk • May 14
New major risk - Revenue and earnings growth Earnings have declined by 1.2% 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 1.2% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (106% payout ratio). Market cap is less than US$100m (NT$972.8m market cap, or US$32.1m). Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$0.25 (vs NT$0.42 in 1Q 2024) First quarter 2025 results: EPS: NT$0.25 (down from NT$0.42 in 1Q 2024). Revenue: NT$67.2m (down 11% from 1Q 2024). Net income: NT$8.41m (down 41% from 1Q 2024). Profit margin: 13% (down from 19% 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 14% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$25.65, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total loss to shareholders of 12% over the past three years. Reported Earnings • Mar 26
Full year 2024 earnings released: EPS: NT$1.87 (vs NT$3.01 in FY 2023) Full year 2024 results: EPS: NT$1.87 (down from NT$3.01 in FY 2023). Revenue: NT$314.5m (down 21% from FY 2023). Net income: NT$63.4m (down 38% from FY 2023). Profit margin: 20% (down from 26% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 11% 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 • Mar 10
ETREND Hightech Corp., Annual General Meeting, Jun 13, 2025 ETREND Hightech Corp., Annual General Meeting, Jun 13, 2025. Location: 9 floor no,35, hsin t`ai rd., jhubei city, hsinchu county Taiwan Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.45 (vs NT$1.13 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.45 (down from NT$1.13 in 3Q 2023). Revenue: NT$78.8m (down 35% from 3Q 2023). Net income: NT$15.3m (down 60% from 3Q 2023). Profit margin: 19% (down from 32% 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 6% per year. Reported Earnings • Aug 12
Second quarter 2024 earnings released: EPS: NT$0.58 (vs NT$0.86 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.58 (down from NT$0.86 in 2Q 2023). Revenue: NT$83.9m (down 21% from 2Q 2023). Net income: NT$19.7m (down 33% from 2Q 2023). Profit margin: 23% (down from 28% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 1% per year. Upcoming Dividend • Jul 04
Upcoming dividend of NT$2.70 per share Eligible shareholders must have bought the stock before 11 July 2024. Payment date: 14 August 2024. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 6.4%. Within top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.0%). Buy Or Sell Opportunity • Jul 01
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.6% to NT$41.95. The fair value is estimated to be NT$52.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.6% over the last 3 years, while earnings per share has been flat. Buy Or Sell Opportunity • Jun 19
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.5% to NT$41.40. The fair value is estimated to be NT$52.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.6% over the last 3 years, while earnings per share has been flat. Buy Or Sell Opportunity • May 13
Now 20% undervalued Over the last 90 days, the stock has risen 3.6% to NT$41.45. The fair value is estimated to be NT$51.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.6% over the last 3 years, while earnings per share has been flat. Reported Earnings • May 12
First quarter 2024 earnings released: EPS: NT$0.37 (vs NT$0.37 in 1Q 2023) First quarter 2024 results: EPS: NT$0.37. Revenue: NT$75.5m (flat on 1Q 2023). Net income: NT$14.3m (up 13% from 1Q 2023). Profit margin: 19% (up from 17% in 1Q 2023). Aankondiging • Mar 21
ETREND Hightech Corp., Annual General Meeting, Jun 13, 2024 ETREND Hightech Corp., Annual General Meeting, Jun 13, 2024. New Risk • Aug 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (105% payout ratio). Share price has been volatile over the past 3 months (6.2% average weekly change). Market cap is less than US$100m (NT$1.35b market cap, or US$42.2m). Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to NT$42.50, the stock trades at a trailing P/E ratio of 21.3x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 109% over the past three years. Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: NT$0.86 (vs NT$0.80 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.86 (up from NT$0.80 in 2Q 2022). Revenue: NT$105.6m (up 1.2% from 2Q 2022). Net income: NT$29.2m (up 7.9% from 2Q 2022). Profit margin: 28% (up from 26% in 2Q 2022). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 04
Upcoming dividend of NT$2.10 per share at 6.5% yield Eligible shareholders must have bought the stock before 11 July 2023. Payment date: 11 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: 6.5%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (3.2%). Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: NT$2.36 (vs NT$3.09 in FY 2021) Full year 2022 results: EPS: NT$2.36 (down from NT$3.09 in FY 2021). Revenue: NT$368.4m (down 16% from FY 2021). Net income: NT$80.1m (down 24% from FY 2021). Profit margin: 22% (down from 24% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 12% per year. Buying Opportunity • Mar 24
Now 21% undervalued Over the last 90 days, the stock is up 15%. The fair value is estimated to be NT$36.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.9% over the last 3 years. Earnings per share has grown by 21%. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$28.90, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 13x in the Semiconductor industry in Taiwan. Total returns to shareholders of 66% over the past three years. Reported Earnings • Nov 12
Third quarter 2022 earnings released: EPS: NT$0.46 (vs NT$0.88 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.46 (down from NT$0.88 in 3Q 2021). Revenue: NT$83.1m (down 28% from 3Q 2021). Net income: NT$15.8m (down 47% from 3Q 2021). Profit margin: 19% (down from 26% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 20
Upcoming dividend of NT$2.60 per share Eligible shareholders must have bought the stock before 27 July 2022. Payment date: 26 August 2022. Payout ratio is on the higher end at 78%, and the cash payout ratio is above 100%. Trailing yield: 8.7%. Within top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (3.7%). Reported Earnings • May 13
First quarter 2022 earnings released: EPS: NT$0.80 (vs NT$0.57 in 1Q 2021) First quarter 2022 results: EPS: NT$0.80 (up from NT$0.57 in 1Q 2021). Revenue: NT$108.5m (up 11% from 1Q 2021). Net income: NT$27.3m (up 42% from 1Q 2021). Profit margin: 25% (up from 20% 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 17% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Aankondiging • Mar 23
ETREND Hightech Corp., Annual General Meeting, Jun 14, 2022 ETREND Hightech Corp., Annual General Meeting, Jun 14, 2022. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS NT$0.88 (vs NT$0.56 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$115.9m (up 18% from 3Q 2020). Net income: NT$29.8m (up 57% from 3Q 2020). Profit margin: 26% (up from 19% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS NT$0.75 (vs NT$0.54 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$109.0m (up 19% from 2Q 2020). Net income: NT$25.7m (up 40% from 2Q 2020). Profit margin: 24% (up from 20% 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 3% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 20
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 27 July 2021. Payment date: 27 August 2021. Trailing yield: 5.6%. Within top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (2.2%). Reported Earnings • Mar 17
Full year 2020 earnings released: EPS NT$2.35 (vs NT$1.80 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$386.7m (up 7.5% from FY 2019). Net income: NT$79.8m (up 30% from FY 2019). Profit margin: 21% (up from 17% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 19
New 90-day high: NT$33.00 The company is up 28% from its price of NT$25.80 on 20 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 35% over the same period. Is New 90 Day High Low • Jan 07
New 90-day high: NT$31.40 The company is up 22% from its price of NT$25.75 on 08 October 2020. The Taiwanese market is up 16% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 23% over the same period. Is New 90 Day High Low • Dec 15
New 90-day high: NT$30.50 The company is up 16% from its price of NT$26.30 on 16 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 20% over the same period. Is New 90 Day High Low • Nov 24
New 90-day high: NT$26.70 The company is up 6.0% from its price of NT$25.10 on 26 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 16% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.56 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$98.0m (up 11% from 3Q 2019). Net income: NT$19.0m (up 33% from 3Q 2019). Profit margin: 19% (up from 16% in 3Q 2019). The increase in margin was driven by higher 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 6% per year, which means it has not declined as severely as earnings.