Upcoming Dividend • Jun 10
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 17 June 2026. Payment date: 10 July 2026. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (1.2%). Reported Earnings • Apr 30
First quarter 2026 earnings released: NT$0.30 loss per share (vs NT$0.049 profit in 1Q 2025) First quarter 2026 results: NT$0.30 loss per share (down from NT$0.049 profit in 1Q 2025). Revenue: NT$9.36b (up 11% from 1Q 2025). Net loss: NT$119.2m (down NT$138.4m from profit in 1Q 2025). Revenue is forecast to grow 7.6% p.a. on average during the next 2 years, compared to a 21% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 59% 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. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$67.50, the stock trades at a trailing P/E ratio of 71x. Average forward P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 1.4% over the past three years. New Risk • Apr 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 322% 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: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 161% Paying a dividend despite having no free cash flows. Earnings have declined by 25% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Aankondiging • Mar 17
Coretronic Corporation, Annual General Meeting, Jun 12, 2026 Coretronic Corporation, Annual General Meeting, Jun 12, 2026. Location: no,2, k`o pei 5th rd., jhunan township, miaoli county Taiwan Reported Earnings • Feb 11
Full year 2025 earnings released: EPS: NT$0.95 (vs NT$2.10 in FY 2024) Full year 2025 results: EPS: NT$0.95 (down from NT$2.10 in FY 2024). Revenue: NT$39.6b (flat on FY 2024). Net income: NT$371.9m (down 55% from FY 2024). Profit margin: 0.9% (down from 2.1% in FY 2024). Revenue is forecast to grow 8.4% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Price Target Changed • Nov 04
Price target increased by 28% to NT$118 Up from NT$92.00, the current price target is an average from 2 analysts. New target price is 24% above last closing price of NT$95.20. Stock is up 39% over the past year. The company posted earnings per share of NT$2.10 last year. Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: NT$0.24 (vs NT$0.52 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.24 (down from NT$0.52 in 3Q 2024). Revenue: NT$9.95b (down 7.0% from 3Q 2024). Net income: NT$95.2m (down 53% from 3Q 2024). Profit margin: 1.0% (down from 1.9% in 3Q 2024). Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. New Risk • Aug 18
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 6.4% 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: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 132% Paying a dividend despite having no free cash flows. Earnings have declined by 14% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.2% net profit margin). New Risk • Aug 05
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 480% 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: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 132% Paying a dividend despite having no free cash flows. Earnings have declined by 14% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.2% net profit margin). Reported Earnings • Jul 31
Second quarter 2025 earnings released: EPS: NT$0.15 (vs NT$0.72 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.15 (down from NT$0.72 in 2Q 2024). Revenue: NT$9.86b (down 1.1% from 2Q 2024). Net income: NT$57.4m (down 80% from 2Q 2024). Profit margin: 0.6% (down from 2.8% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 8.2% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Price Target Changed • Jul 30
Price target decreased by 15% to NT$79.00 Down from NT$92.50, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of NT$79.00. Stock is up 5.3% over the past year. The company posted earnings per share of NT$2.10 last year. Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$66.50, the stock trades at a trailing P/E ratio of 37.3x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 44% over the past three years. Declared Dividend • Jun 27
Dividend reduced to NT$1.50 Dividend of NT$1.50 is 50% lower than last year. Ex-date: 11th July 2025 Payment date: 5th August 2025 Dividend yield will be 2.7%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is not covered by earnings (132% earnings payout ratio) and 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. The company's earnings per share (EPS) would need to grow by 47% to bring the payout ratio under control. However, EPS has declined by 6.2% over the last 5 years so the company would need to reverse this trend. Aankondiging • Jun 11
Avalue Technology Incorporation (TPEX:3479) agreed to acquire 51% stake in Champ Vision Display. Inc from Coretronic Corporation (TPEX:5371) for approximately TWD 250 million. Avalue Technology Incorporation (TPEX:3479) agreed to acquire 51% stake in Champ Vision Display. Inc from Coretronic Corporation (TPEX:5371) and other shareholders for approximately TWD 250 million on June 10, 2025. A cash consideration valued at TWD 27 per share will be paid by Avalue Technology Incorporation. Avalue Technology Incorporation will use its own funds for the acquisition.
The transaction is subject to approval of offer by the board of Avalue Technology Incorporation. The deal has been approved by the board of Avalue Technology Incorporation.
CHUNYI CPA FIRM acted as accountant for Avalue Technology Incorporation. Reported Earnings • May 01
First quarter 2025 earnings released: EPS: NT$0.05 (vs NT$0.37 in 1Q 2024) First quarter 2025 results: EPS: NT$0.05 (down from NT$0.37 in 1Q 2024). Revenue: NT$8.47b (down 7.1% from 1Q 2024). Net income: NT$19.2m (down 87% from 1Q 2024). Profit margin: 0.2% (down from 1.6% in 1Q 2024). Revenue is forecast to grow 6.6% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Aankondiging • Apr 16
Coretronic Corporation to Report Q1, 2025 Results on Apr 29, 2025 Coretronic Corporation announced that they will report Q1, 2025 results on Apr 29, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$60.30, the stock trades at a trailing P/E ratio of 28.7x. Average forward P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 8.8% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$45.32 per share. New Risk • Mar 21
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 125% 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: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 132% Paying a dividend despite having no free cash flows. Earnings have declined by 3.5% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.1% net profit margin). Aankondiging • Mar 19
Coretronic Corporation, Annual General Meeting, Jun 18, 2025 Coretronic Corporation, Annual General Meeting, Jun 18, 2025, at 09:00 Taipei Standard Time. Location: no,2, k`o pei 5th rd., jhunan township, miaoli county Taiwan New Risk • Feb 28
New major risk - Revenue and earnings growth Earnings have declined by 3.5% 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 132% Paying a dividend despite having no free cash flows. Earnings have declined by 3.5% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Profit margins are more than 30% lower than last year (2.1% net profit margin). Price Target Changed • Feb 19
Price target increased by 23% to NT$103 Up from NT$83.00, the current price target is an average from 2 analysts. New target price is 19% above last closing price of NT$86.10. Stock is up 19% over the past year. The company posted earnings per share of NT$3.56 last year. Aankondiging • Feb 08
Coretronic Corporation to Report Q4, 2024 Results on Feb 17, 2025 Coretronic Corporation announced that they will report Q4, 2024 results on Feb 17, 2025 New Risk • Dec 24
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 6.3% 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: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 132% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Profit margins are more than 30% lower than last year (2.2% net profit margin). Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$83.30, the stock trades at a trailing P/E ratio of 36.7x. Average forward P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 16% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$49.89 per share. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: NT$0.52 (vs NT$1.19 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.52 (down from NT$1.19 in 3Q 2023). Revenue: NT$10.7b (up 2.8% from 3Q 2023). Net income: NT$202.7m (down 57% from 3Q 2023). Profit margin: 1.9% (down from 4.5% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Aankondiging • Oct 29
Coretronic Corporation Announces Resignation of Ann Wu as President, Effective from Nov. 1, 2024 On October 28, 2024, Coretronic Corporation announced resignation of Ann Wu as President. Resume of the previous position holder: President of Coretronic. Reason for the change: In accordance with the group's operational plan, Ms. Ann Wu will concentrate on the operational development of the subsidiary Coretronic Intelligent Robotics Corporation. Therefore, she will resign the President of the company on Nov. 1, 2024. Ms. Sarah Lin holds the position of President, focusing on optimizing the operational development of the Display Business Group. Aankondiging • Oct 16
Coretronic Corporation to Report Q3, 2024 Results on Oct 29, 2024 Coretronic Corporation announced that they will report Q3, 2024 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$83.40, the stock trades at a trailing P/E ratio of 28.3x. Average forward P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 84% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$51.08 per share. Reported Earnings • Jul 30
Second quarter 2024 earnings released: EPS: NT$0.72 (vs NT$1.06 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.72 (down from NT$1.06 in 2Q 2023). Revenue: NT$9.97b (up 3.5% from 2Q 2023). Net income: NT$281.8m (down 32% from 2Q 2023). Profit margin: 2.8% (down from 4.3% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Aankondiging • Jul 22
Coretronic Corporation to Report Q2, 2024 Results on Jul 29, 2024 Coretronic Corporation announced that they will report Q2, 2024 results on Jul 29, 2024 Declared Dividend • Jun 27
Dividend reduced to NT$3.00 Dividend of NT$3.00 is 33% lower than last year. Ex-date: 11th July 2024 Payment date: 2nd August 2024 Dividend yield will be 3.3%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is not adequately covered by earnings (91% earnings payout ratio). However, it is well covered by cash flows (35% cash payout ratio). The dividend has decreased over the past 96 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 1.6% to bring the payout ratio under control. However, EPS has declined by 5.8% over the last 5 years so the company would need to reverse this trend. Aankondiging • Jun 26
Coretronic Corporation Announces Cash Dividend Distribution, Payable on August 02, 2024 Coretronic Corporation announced Cash dividend distribution of TWD 899,256,553 (TWD 2.3 per share). Cash distribution of additional paid-in capital of TWD 273,686,777 (TWD 0.7 per share). Total cash distribution TWD 3.0 per share. Ex-rights (Ex-dividend) date: July 11, 2024; Ex-rights (Ex-dividend) record date: July 19, 2024; Payment date of cash dividend distribution: August 02, 2024. New Risk • May 29
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.8% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.8% average weekly change). Minor Risk Dividend is not well covered by earnings (117% payout ratio). Valuation Update With 7 Day Price Move • May 27
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to NT$125, the stock trades at a trailing P/E ratio of 38x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 165% over the past three years. Aankondiging • May 25
Coretronic Corporation to Report September,2024 Results on Oct 09, 2024 Coretronic Corporation announced that they will report September, 2024 results on Oct 09, 2024 Reported Earnings • May 02
First quarter 2024 earnings released: EPS: NT$0.37 (vs NT$0.65 in 1Q 2023) First quarter 2024 results: EPS: NT$0.37 (down from NT$0.65 in 1Q 2023). Revenue: NT$9.12b (down 4.7% from 1Q 2023). Net income: NT$143.2m (down 43% from 1Q 2023). Profit margin: 1.6% (down from 2.6% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. New Risk • Apr 22
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 6.8% 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 Dividend is not well covered by earnings (117% payout ratio). Share price has been volatile over the past 3 months (6.8% average weekly change). Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$108, the stock trades at a trailing P/E ratio of 30.2x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 110% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$63.76 per share. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$86.70, the stock trades at a trailing P/E ratio of 24.4x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 87% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$63.61 per share. Buy Or Sell Opportunity • Mar 27
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 5.4% to NT$76.40. The fair value is estimated to be NT$63.63, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Aankondiging • Mar 19
Coretronic Corporation, Annual General Meeting, Jun 14, 2024 Coretronic Corporation, Annual General Meeting, Jun 14, 2024. Location: Chu-Nan Science Park NO.2, Ke Bei Rd.5th, Science Park, Chu-Nan Miaoli County Taiwan Agenda: To consider 2023 business report; to consider 2023 review report of the Audit committee; to consider the distribution of 2023 employees' compensation; to consider the distribution of 2023 Earnings in cash and additional paid-in capital in cash; to approve 2023 business report and financial statement; to approve the proposal for distribution of 2023 profits; and to consider proposal of Amending the Company's Procedures of Loaning of Funds and Making of Endorsements /Guarantees. Reported Earnings • Mar 06
Full year 2023 earnings released: EPS: NT$3.56 (vs NT$6.03 in FY 2022) Full year 2023 results: EPS: NT$3.56 (down from NT$6.03 in FY 2022). Revenue: NT$39.5b (down 21% from FY 2022). Net income: NT$1.39b (down 41% from FY 2022). Profit margin: 3.5% (down from 4.7% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 10.0% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Reported Earnings • Nov 03
Third quarter 2023 earnings released: EPS: NT$1.20 (vs NT$1.78 in 3Q 2022) Third quarter 2023 results: EPS: NT$1.20 (down from NT$1.78 in 3Q 2022). Revenue: NT$10.4b (down 19% from 3Q 2022). Net income: NT$467.0m (down 33% from 3Q 2022). Profit margin: 4.5% (down from 5.4% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 02
Second quarter 2023 earnings released: EPS: NT$1.05 (vs NT$2.07 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.05 (down from NT$2.07 in 2Q 2022). Revenue: NT$9.63b (down 23% from 2Q 2022). Net income: NT$412.3m (down 49% from 2Q 2022). Profit margin: 4.3% (down from 6.4% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.9% p.a. on average during the next 2 years, compared to a 7.6% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Aug 01
Coretronic Corporation Announces the Resignation of Sy Chen as President Coretronic Corporation announced the resignation of SY Chen as President. Reason for the change:In accordance with the group's operational plan, Mr. SY Chen will concentrate on the operational development of brand subsidiary Optoma Holding Limited. Therefore, he will be dismissed from the position of the President of the company. The positions of the other two Presidents remain unchanged. President Sarah Lin is responsible for the operation and development of the Display Business Group, while President Ann Wu is responsible for the operation and development of the Solution Business Group. Upcoming Dividend • Jul 06
Upcoming dividend of NT$4.50 per share at 6.0% yield Eligible shareholders must have bought the stock before 13 July 2023. Payment date: 04 August 2023. Payout ratio is on the higher end at 82%, however this is supported by cash flows. Trailing yield: 6.0%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (4.2%). Aankondiging • Jun 28
Coretronic Corporation Announces Cash Dividend Distribution, Payable on August 4, 2023 Coretronic Corporation announced cash dividend distribution of TWD 1,368,433,885 (TWD 3.5 per share) Cash distribution of additional paid-in capital of TWD 390,981,110 (TWD 1.0 per share) Total cash distribution of TWD 4.5 per share. Date of the resolution by the board of directors or shareholders meeting, or of the decision by the company: June 27, 2023. Type: Ex-dividend. Ex-rights (Ex-dividend) date: July 13, 2023. Last date before book closure: July 14, 2023. Book closure starting date: July 15, 2023. Book closure ending date: July 19, 2023. Ex-rights (Ex-dividend) record date: July 19, 2023. Payment date of cash dividend distribution: August 4, 2023. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$78.20, the stock trades at a trailing P/E ratio of 13x. Average forward P/E is 14x in the Electronic industry in Taiwan. Total returns to shareholders of 203% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$45.00 per share. Reported Earnings • Feb 19
Full year 2022 earnings released: EPS: NT$6.03 (vs NT$5.12 in FY 2021) Full year 2022 results: EPS: NT$6.03 (up from NT$5.12 in FY 2021). Revenue: NT$49.8b (flat on FY 2021). Net income: NT$2.36b (up 16% from FY 2021). Profit margin: 4.7% (up from 4.1% in FY 2021). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Price Target Changed • Feb 17
Price target increased by 16% to NT$61.67 Up from NT$53.27, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of NT$63.00. The company posted earnings per share of NT$5.12 last year. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Hsing-Yi Chow was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 04
Third quarter 2022 earnings released: EPS: NT$1.78 (vs NT$1.46 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.78 (up from NT$1.46 in 3Q 2021). Revenue: NT$12.9b (down 1.1% from 3Q 2021). Net income: NT$697.5m (up 23% from 3Q 2021). Profit margin: 5.4% (up from 4.4% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is expected to decline by 3.1% p.a. on average during the next 2 years, while revenues in the Electronic industry in Taiwan are expected to grow by 7.2%. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Aankondiging • Oct 27
Coretronic Corporation Announces Appointment of Wilson Hsu as Chief Strategy Officer, Effective January 1, 2023 Coretronic Corporation announced the appointment of Wilson Hsu as Chief Strategy Officer, Effective January 1, 2023. Wilson Hsu is Chief Strategy Officer of Executive Vice President of Coretronic Corporation. Aankondiging • Oct 19
Coretronic Corporation to Report Q3, 2022 Results on Nov 01, 2022 Coretronic Corporation announced that they will report Q3, 2022 results on Nov 01, 2022 Price Target Changed • Aug 23
Price target decreased to NT$68.50 Down from NT$77.50, the current price target is provided by 1 analyst. New target price is 7.0% above last closing price of NT$64.00. The company posted earnings per share of NT$5.12 last year. Board Change • Aug 23
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Hsing-Yi Chow was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Aankondiging • May 24
HannStar Display Corporation (TWSE:6116) along with its subsidiaries Hannshine Investment Co.,Ltd, Hanns Prosper Investment Co., Ltd. and Huali Investment Co.,Ltd. cancelled the acquisition of an unknown stake in Coretronic Corporation (TPEX:5371). HannStar Display Corporation (TWSE:6116) along with its subsidiaries Hannshine Investment Co.,Ltd, Hanns Prosper Investment Co., Ltd. and Huali Investment Co.,Ltd. agreed to acquire an unknown stake in Coretronic Corporation (TPEX:5371) on February 24, 2022. currently HannStar Display Corporation, Hannshine Investment Co.,Ltd, Hanns Prosper Investment Co., Ltd. and Huali Investment Co.,Ltd. holds 4.19%, 1.29%, 1.26% and 2.17% stake respectively in Coretronic Corporation. The total transaction amount is planned to be no more than TWD 2.5 billion, depending on the market price to determine the purchase quantity and the actual total amount.
HannStar Display Corporation (TWSE:6116) along with its subsidiaries Hannshine Investment Co.,Ltd, Hanns Prosper Investment Co., Ltd. and Huali Investment Co.,Ltd. cancelled the acquisition of an unknown stake in Coretronic Corporation (TPEX:5371) on May 23, 2022. In view of the international economic situation and strategic considerations HannStar Display Corporation board of directors have rescind the transaction. Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: NT$1.22 (vs NT$0.93 in 1Q 2021) First quarter 2022 results: EPS: NT$1.22 (up from NT$0.93 in 1Q 2021). Revenue: NT$13.1b (up 31% from 1Q 2021). Net income: NT$478.9m (up 24% from 1Q 2021). Profit margin: 3.6% (down from 3.9% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target increased to NT$77.50 Up from NT$62.65, the current price target is an average from 2 analysts. New target price is 32% above last closing price of NT$58.80. The company posted earnings per share of NT$5.12 last year. Aankondiging • Apr 12
Coretronic Corporation to Report Q1, 2022 Results on Apr 26, 2022 Coretronic Corporation announced that they will report Q1, 2022 results on Apr 26, 2022 Aankondiging • Mar 23
Coretronic Corporation, Annual General Meeting, Jun 10, 2022 Coretronic Corporation, Annual General Meeting, Jun 10, 2022. Location: at Chu-Nan Science Park. (NO.2, Ke Bei Rd.5th, Science Park, Chu-Nan Miao-Li Taiwan Agenda: To consider the 2021 business report; to consider the 2021 review report of the Audit committee; to consider the distribution of 2021 employees' compensation; to consider the distribution of 2021 Earnings in cash and additional paid-in capital in cash; to consider the Coretronic adopted the simple merger of the subsidiary Optoma Technology Corporation; to approve 2021 business report and financial statement; to approve the proposal for distribution of 2021 profits; to amend the Company's Acquisition or Disposal of Assets Procedure; to release the newly-elected directors and their corporate representatives from non-competition restrictions; and to consider the other matters. Aankondiging • Mar 03
Coretronic Corporation Announces Resignation of Fleming Chuang as Chief Technology Officer Coretronic Corporation announced resignation of Fleming Chuang as Chief Technology Officer due to personal career planning, effective March 1, 2022. Reported Earnings • Feb 18
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: NT$5.12 (up from NT$3.59 in FY 2020). Revenue: NT$49.8b (up 17% from FY 2020). Net income: NT$2.03b (up 30% from FY 2020). Profit margin: 4.1% (up from 3.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.4%. Over the next year, revenue is forecast to grow 16%, compared to a 8.7% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Feb 17
Price target increased to NT$77.50 Up from NT$62.65, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of NT$73.90. Stock is up 46% over the past year. The company posted earnings per share of NT$3.59 last year. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 15% share price gain to NT$86.40, the stock trades at a trailing P/E ratio of 17.6x. Average forward P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 164% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$62.30 per share. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS NT$1.46 (vs NT$1.35 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$13.0b (up 9.3% from 3Q 2020). Net income: NT$569.5m (down 2.7% from 3Q 2020). Profit margin: 4.4% (down from 4.9% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Executive Departure • Aug 21
Chief Strategy Officer Ann Wu has left the company On the 16th of August, Ann Wu's tenure as Chief Strategy Officer ended after 1.5 years in the role. We don't have any record of a personal shareholding under Ann's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 3.92 years. Reported Earnings • Jul 28
Second quarter 2021 earnings released: EPS NT$1.40 (vs NT$1.27 in 2Q 2020) The company reported a mediocre second quarter result with weaker profit margins, although earnings were flat and revenues improved. Second quarter 2021 results: Revenue: NT$11.6b (up 9.5% from 2Q 2020). Net income: NT$548.3m (flat on 2Q 2020). Profit margin: 4.7% (down from 5.2% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 23
Upcoming dividend of NT$4.00 per share Eligible shareholders must have bought the stock before 30 July 2021. Payment date: 20 August 2021. Trailing yield: 6.6%. Within top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (3.0%). Reported Earnings • Apr 28
First quarter 2021 earnings released: EPS NT$0.93 (vs NT$0.012 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$10.0b (up 20% from 1Q 2020). Net income: NT$386.4m (up NT$381.4m from 1Q 2020). Profit margin: 3.9% (up from 0.1% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Aankondiging • Apr 28
Coretronic Corporation (GTSM:5371) acquired 7.9% stake in Yann Yuan Investment Co., Ltd. for NTD 2.1 billion. Coretronic Corporation (GTSM:5371) acquired 7.9% stake in Yann Yuan Investment Co., Ltd. for NTD 2.1 billion on April 26, 2021. Under the terms of transaction, Coretronic Corporation acquired 13 million shares. Kevin Tsai. of FORTUNE & CO acted as CPA for the firm.
Coretronic Corporation (GTSM:5371) completed the acquisition of 7.9% stake in Yann Yuan Investment Co., Ltd. on April 26, 2021. Aankondiging • Mar 16
Coretronic Corporation, Annual General Meeting, Jun 10, 2021 Coretronic Corporation, Annual General Meeting, Jun 10, 2021. Location: Chu-Nan Science Park NO.2, Ke Bei Rd.5th, Science Park, Chu-Nan Miao-Li Taiwan Agenda: To consider 2020 business report; to 2020 review report of the audit committee; to the distribution of 2020 employees' compensation; to the distribution of 2020 earnings in cash and additional paid-in capital in cash; to implementation of buying back the company s shares; to approve the proposal for distribution of 2020 profits; to formulate the company's urules of procedure for shareholders meetings; and to consider other matter. Executive Departure • Mar 03
Chief Intelligent Manufacturing Officer & Senior VP has left the company On the 1st of March, Daniel Lee's tenure as Chief Intelligent Manufacturing Officer & Senior VP ended after 3.4 years in the role. As of December 2020, Daniel personally held only 34.13k shares (NT$1.4m worth at the time). Daniel is the only executive to leave the company over the last 12 months. Is New 90 Day High Low • Feb 23
New 90-day high: NT$51.20 The company is up 47% from its price of NT$34.85 on 25 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 25% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$24.21 per share. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improved over the past week After last week's 17% share price gain to NT$50.50, the stock is trading at a trailing P/E ratio of 14.1x, up from the previous P/E ratio of 12x. This compares to an average P/E of 18x in the Electronic industry in Taiwan. Total returns to shareholders over the past three years are 46%. Reported Earnings • Feb 10
Full year 2020 earnings released: EPS NT$3.59 (vs NT$2.65 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: NT$42.4b (down 13% from FY 2019). Net income: NT$1.56b (up 35% from FY 2019). Profit margin: 3.7% (up from 2.4% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 10
Revenue misses expectations Revenue missed analyst estimates by 0.7%. Over the next year, revenue is forecast to grow 11%, compared to a 15% growth forecast for the Electronic industry in Taiwan. Aankondiging • Feb 10
Coretronic Corporation to Report Q4, 2020 Results on Feb 22, 2021 Coretronic Corporation announced that they will report Q4, 2020 results on Feb 22, 2021 Aankondiging • Feb 09
Coretronic Corporation Announces Executive Changes Coretronic Corporation announced the retirement of Daniel Lee, Senior Vice President of the company as Chief Intelligent Manufacturing Officer. The name of new position holder is CY Lin, Vice President of the company. The date of occurrence of change is February 8, 2021. Is New 90 Day High Low • Feb 04
New 90-day high: NT$41.30 The company is up 19% from its price of NT$34.80 on 06 November 2020. The Taiwanese market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 26% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$24.38 per share. Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improved over the past week After last week's 16% share price gain to NT$40.95, the stock is trading at a trailing P/E ratio of 11.6x, up from the previous P/E ratio of 10x. This compares to an average P/E of 17x in the Electronic industry in Taiwan. Total returns to shareholders over the past three years are 45%. Is New 90 Day High Low • Dec 28
New 90-day high: NT$37.20 The company is up 11% from its price of NT$33.40 on 30 September 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$24.32 per share. Is New 90 Day High Low • Dec 05
New 90-day high: NT$36.50 The company is up 1.0% from its price of NT$36.05 on 04 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$20.94 per share. Reported Earnings • Nov 03
Third quarter 2020 earnings released: EPS NT$1.35 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$11.9b (down 8.1% from 3Q 2019). Net income: NT$585.4m (up 24% from 3Q 2019). Profit margin: 4.9% (up from 3.6% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Nov 03
Revenue beats expectations Revenue exceeded analyst estimates by 0.1%. Over the next year, revenue is forecast to grow 4.4%, compared to a 11% growth forecast for the Electronic industry in Taiwan.