New Risk • May 08
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.7% Last year net profit margin: 4.1% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (10% average weekly change). Profit margins are more than 30% lower than last year (1.7% net profit margin). Market cap is less than US$100m (NT$2.03b market cap, or US$64.6m). New Risk • Apr 21
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 8.8% 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 Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). 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 (8.8% average weekly change). Market cap is less than US$100m (NT$2.37b market cap, or US$75.5m). Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to NT$30.50, the stock trades at a trailing P/E ratio of 21x. Average trailing P/E is 31x in the Electronic industry in Taiwan. Total returns to shareholders of 28% over the past three years. Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$26.70, the stock trades at a trailing P/E ratio of 18.4x. Average trailing P/E is 25x in the Electronic industry in Taiwan. Total returns to shareholders of 12% over the past three years. Aankondiging • Mar 03
Partner Tech Corp., Annual General Meeting, Jun 26, 2026 Partner Tech Corp., Annual General Meeting, Jun 26, 2026. Location: rf floor no,206, chien pa rd., jhonghe district, new taipei city Taiwan New Risk • Mar 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (NT$1.68b market cap, or US$53.6m). Board Change • Jan 13
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. 3 independent directors (4 non-independent directors). Representative Director Joshua Tzeng was the last director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Declared Dividend • Jun 14
Dividend of NT$1.00 announced Dividend of NT$1.00 is the same as last year. Ex-date: 1st July 2025 Payment date: 6th August 2025 Dividend yield will be 3.9%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (63% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 8.8% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 82% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Apr 07
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 7.2% 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 Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). 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 (7.2% average weekly change). Market cap is less than US$100m (NT$1.57b market cap, or US$47.5m). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$20.20, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 1.2% over the past three years. Aankondiging • Mar 05
Partner Tech Corp., Annual General Meeting, Jun 12, 2025 Partner Tech Corp., Annual General Meeting, Jun 12, 2025. Location: r floor no,206, chien pa rd., jhonghe district, new taipei city Taiwan New Risk • Mar 03
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (NT$2.04b market cap, or US$62.0m). Upcoming Dividend • Jun 20
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 09 August 2024. Payout ratio is a comfortable 69% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.7%). Reported Earnings • May 01
Full year 2023 earnings released: EPS: NT$1.45 (vs NT$1.81 in FY 2022) Full year 2023 results: EPS: NT$1.45 (down from NT$1.81 in FY 2022). Revenue: NT$2.72b (flat on FY 2022). Net income: NT$108.5m (down 20% from FY 2022). Profit margin: 4.0% (down from 5.0% in FY 2022). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Aankondiging • Mar 17
Partner Tech Corp., Annual General Meeting, Jun 12, 2024 Partner Tech Corp., Annual General Meeting, Jun 12, 2024. New Risk • Mar 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (NT$1.97b market cap, or US$62.4m). New Risk • Nov 17
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 5.6% 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 (5.6% average weekly change). Market cap is less than US$100m (NT$2.13b market cap, or US$67.0m). Valuation Update With 7 Day Price Move • Aug 10
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$28.90, the stock trades at a trailing P/E ratio of 16x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 74% over the past three years. New Risk • Jul 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (129% cash payout ratio). Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (NT$2.51b market cap, or US$80.9m). Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$33.55, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 90% over the past three years. Upcoming Dividend • Jul 06
Upcoming dividend of NT$1.00 per share at 3.6% yield Eligible shareholders must have bought the stock before 13 July 2023. Payment date: 11 August 2023. Payout ratio is a comfortable 55% and the cash payout ratio is 77%. Trailing yield: 3.6%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (4.2%). Reported Earnings • May 06
Full year 2022 earnings released: EPS: NT$1.81 (vs NT$1.26 in FY 2021) Full year 2022 results: EPS: NT$1.81 (up from NT$1.26 in FY 2021). Revenue: NT$2.74b (up 1.3% from FY 2021). Net income: NT$135.8m (up 44% from FY 2021). Profit margin: 5.0% (up from 3.5% in FY 2021). Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 18
First half 2022 earnings released: EPS: NT$0.80 (vs NT$0.56 in 1H 2021) First half 2022 results: EPS: NT$0.80 (up from NT$0.56 in 1H 2021). Revenue: NT$1.40b (up 7.3% from 1H 2021). Net income: NT$59.9m (up 41% from 1H 2021). Profit margin: 4.3% (up from 3.3% in 1H 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 07
Upcoming dividend of NT$0.60 per share Eligible shareholders must have bought the stock before 14 July 2022. Payment date: 12 August 2022. Payout ratio is a comfortable 48% but the company is paying out more than the cash it is generating. Trailing yield: 2.9%. Lower than top quartile of Taiwanese dividend payers (6.8%). Lower than average of industry peers (5.1%). Reported Earnings • May 02
Full year 2021 earnings released: EPS: NT$1.26 (vs NT$0.068 in FY 2020) Full year 2021 results: EPS: NT$1.26 (up from NT$0.068 in FY 2020). Revenue: NT$2.70b (down 1.9% from FY 2020). Net income: NT$94.3m (up NT$89.2m from FY 2020). Profit margin: 3.5% (up from 0.2% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. 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. 7 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . 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 • Nov 10
Investor sentiment improved over the past week After last week's 16% share price gain to NT$20.15, the stock trades at a trailing P/E ratio of 22.2x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total loss to shareholders of 23% over the past three years. Reported Earnings • Aug 18
First half 2021 earnings released: EPS NT$0.57 (vs NT$0.27 loss in 1H 2020) The company reported a decent first half result with improved earnings and profit margins, although revenues were weaker. First half 2021 results: Revenue: NT$1.30b (down 4.3% from 1H 2020). Net income: NT$42.4m (up NT$63.0m from 1H 2020). Profit margin: 3.3% (up from net loss in 1H 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 42 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Jul 14
Upcoming dividend of NT$0.40 per share Eligible shareholders must have bought the stock before 21 July 2021. Payment date: 17 August 2021. Trailing yield: 2.4%. Lower than top quartile of Taiwanese dividend payers (5.0%). Lower than average of industry peers (2.9%). Reported Earnings • Mar 19
Full year 2020 earnings released: EPS NT$0.07 (vs NT$0.08 in FY 2019) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$2.76b (down 12% from FY 2019). Net income: NT$5.14m (down 14% from FY 2019). Profit margin: 0.2% (in line with FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 24
New 90-day high: NT$17.25 The company is up 14% from its price of NT$15.15 on 26 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 27% over the same period.