Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$262, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 35x in the Electronic industry in Taiwan. Total returns to shareholders of 158% over the past three years. Upcoming Dividend • Jul 15
Upcoming dividend of NT$7.20 per share Eligible shareholders must have bought the stock before 22 July 2026. Payment date: 14 August 2026. Payout ratio is a comfortable 47% but the company is not cash flow positive. Trailing yield: 2.4%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (1.4%). Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$351, the stock trades at a trailing P/E ratio of 22.9x. Average trailing P/E is 41x in the Electronic industry in Taiwan. Total returns to shareholders of 320% over the past three years. Declared Dividend • Jun 19
Dividend increased to NT$7.20 Dividend of NT$7.20 is 227% higher than last year. Ex-date: 22nd July 2026 Payment date: 14th August 2026 Dividend yield will be 2.2%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (38% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 17% 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 16
First quarter 2026 earnings released: EPS: NT$3.00 (vs NT$1.94 in 1Q 2025) First quarter 2026 results: EPS: NT$3.00 (up from NT$1.94 in 1Q 2025). Revenue: NT$2.54b (up 78% from 1Q 2025). Net income: NT$326.5m (up 81% from 1Q 2025). Profit margin: 13% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has increased by 73% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$326, the stock trades at a trailing P/E ratio of 23.7x. Average trailing P/E is 26x in the Electronic industry in Taiwan. Total returns to shareholders of 417% over the past three years. New Risk • Apr 01
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.5% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (58% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.7% average weekly change). Reported Earnings • Mar 19
Full year 2025 earnings released: EPS: NT$13.74 (vs NT$3.52 in FY 2024) Full year 2025 results: EPS: NT$13.74 (up from NT$3.52 in FY 2024). Revenue: NT$9.64b (up 131% from FY 2024). Net income: NT$1.28b (up 291% from FY 2024). Profit margin: 13% (up from 7.8% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has increased by 63% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Mar 12
First Hi-tec Enterprise Co., Ltd., Annual General Meeting, Jun 17, 2026 First Hi-tec Enterprise Co., Ltd., Annual General Meeting, Jun 17, 2026. Location: no,398, t`ao ying rd., taoyuan district, taoyuan city Taiwan Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$244, the stock trades at a trailing P/E ratio of 23.1x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 303% over the past three years. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$354, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 699% over the past three years. New Risk • Nov 18
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (64% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (8.2% average weekly change). Reported Earnings • Nov 15
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: NT$5.71 (up from NT$0.45 in 3Q 2024). Revenue: NT$3.16b (up 199% from 3Q 2024). Net income: NT$531.2m (up NT$489.5m from 3Q 2024). Profit margin: 17% (up from 3.9% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 28%. Earnings per share (EPS) also surpassed analyst estimates by 55%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 92% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to NT$353, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 803% over the past three years. Valuation Update With 7 Day Price Move • Aug 29
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$323, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 683% over the past three years. Reported Earnings • Aug 16
Second quarter 2025 earnings: EPS misses analyst expectations Second quarter 2025 results: EPS: NT$1.87 (up from NT$0.97 in 2Q 2024). Revenue: NT$2.29b (up 128% from 2Q 2024). Net income: NT$173.8m (up 93% from 2Q 2024). Profit margin: 7.6% (down from 9.0% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 18%. Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Electronic industry in Taiwan. 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 88% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$262, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 611% over the past three years. Declared Dividend • Jul 12
Dividend reduced to NT$2.20 Dividend of NT$2.20 is 46% lower than last year. Ex-date: 25th July 2025 Payment date: 28th August 2025 Dividend yield will be 0.9%, which is lower than the industry average of 4.0%. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$240, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 581% over the past three years. Aankondiging • Jun 20
First Hi-tec Enterprise Co., Ltd. Appoints Tang,Kun-Dao as Institutional Director, Effective June 19, 2025 First Hi-tec Enterprise Co., Ltd. announced change in representative of the company's institutional director. Name of the new position holder: Tang,Kun-Dao; Resume of the new position holder: Deputy general manager of R&D Engineering Office; Effective date of the new appointment is June 19, 2025. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$207, the stock trades at a trailing P/E ratio of 47.4x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 396% over the past three years. Reported Earnings • May 17
First quarter 2025 earnings released: EPS: NT$1.94 (vs NT$1.08 in 1Q 2024) First quarter 2025 results: EPS: NT$1.94 (up from NT$1.08 in 1Q 2024). Revenue: NT$1.42b (up 54% from 1Q 2024). Net income: NT$180.0m (up 79% from 1Q 2024). Profit margin: 13% (up from 11% 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 3% per year but the company’s share price has increased by 57% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$183, the stock trades at a trailing P/E ratio of 51.9x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 351% over the past three years. Aankondiging • Apr 30
First Hi-tec Enterprise Co., Ltd. to Report Q1, 2025 Results on May 07, 2025 First Hi-tec Enterprise Co., Ltd. announced that they will report Q1, 2025 results on May 07, 2025 Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$143, the stock trades at a trailing P/E ratio of 40.7x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 239% over the past three years. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to NT$139, the stock trades at a trailing P/E ratio of 39.5x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 207% over the past three years. New Risk • Apr 07
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 8.4% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 20
Full year 2024 earnings released: EPS: NT$3.51 (vs NT$5.07 in FY 2023) Full year 2024 results: EPS: NT$3.51 (down from NT$5.07 in FY 2023). Revenue: NT$4.18b (down 4.0% from FY 2023). Net income: NT$326.8m (down 31% from FY 2023). Profit margin: 7.8% (down from 11% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 46% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$160, the stock trades at a trailing P/E ratio of 49.4x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 261% over the past three years. Aankondiging • Mar 05
First Hi-tec Enterprise Co., Ltd. to Report Q4, 2024 Results on Mar 12, 2025 First Hi-tec Enterprise Co., Ltd. announced that they will report Q4, 2024 results at 9:00 AM, Taipei Standard Time on Mar 12, 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: 127% Cash payout ratio: 148% 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 (7.3% net profit margin). Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$117, the stock trades at a trailing P/E ratio of 36.1x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 128% over the past three years. Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.45 (vs NT$1.61 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.45 (down from NT$1.61 in 3Q 2023). Revenue: NT$1.06b (down 4.2% from 3Q 2023). Net income: NT$41.7m (down 72% from 3Q 2023). Profit margin: 3.9% (down from 14% in 3Q 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Aankondiging • Oct 29
First Hi-tec Enterprise Co., Ltd. to Report Q3, 2024 Results on Nov 06, 2024 First Hi-tec Enterprise Co., Ltd. announced that they will report Q3, 2024 results on Nov 06, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.97 (vs NT$1.52 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.97 (down from NT$1.52 in 2Q 2023). Revenue: NT$1.00b (down 8.9% from 2Q 2023). Net income: NT$90.1m (down 36% from 2Q 2023). Profit margin: 9.0% (down from 13% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Aug 12
Now 26% overvalued Over the last 90 days, the stock has fallen 9.2% to NT$86.00. The fair value is estimated to be NT$68.36, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 6.5%. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$76.20, the stock trades at a trailing P/E ratio of 15.4x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 32% over the past three years. Aankondiging • Jul 31
First Hi-tec Enterprise Co., Ltd. to Report Q2, 2024 Results on Aug 07, 2024 First Hi-tec Enterprise Co., Ltd. announced that they will report Q2, 2024 results on Aug 07, 2024 Aankondiging • Jul 13
First Hi-Tec Enterprise Co., Ltd. Announces Changes of Remuneration Committee Members First Hi-tec Enterprise Co., Ltd. announced changes of Remuneration Committee members. Name of the previous position holder: Mr. Chen,Hsin-Chou and Mr. Su,Jian-Yuan. Resume of the previous position holder: Mr. Chen,Hsin-Chou: The independent director of First Hi-tec Enterprise Co., Ltd. Mr. Su,Jian-Yuan: Deputy general manager of Deying Development Co., Ltd. Name of the new position holder: Mr. Huang,Chih-Chen and Ms. Yang,Shu-Ling. Resume of the new position holder: Mr. Huang,Chih-Chen: Fortune & Co., CPAS/Partnership Accountant and Partner In-Charge; and Ms. Yang,Shu-Ling: Jin-He Pharnacy. Effective date of the new member: 10 July 2024. The new term of Remuneration Committee is July 10, 2024 to June 25, 2027. Declared Dividend • Jul 12
Dividend increased to NT$4.10 Dividend of NT$4.10 is 24% higher than last year. Ex-date: 26th July 2024 Payment date: 23rd August 2024 Dividend yield will be 4.0%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (83% earnings payout ratio) but not covered by cash flows (177% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 7.6% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Aankondiging • Jul 11
First Hi-Tec Enterprise Co., Ltd. Approves Cash Dividend, Payable on 23 August 2024 The Board of Directors of First Hi-tec Enterprise Co., Ltd. approved cash dividend of TWD 4.10 per share or TWD 381,200,583. Ex-rights (Ex-dividend) date: 26 July 2024. Ex-rights (Ex-dividend) record date: 3 August 2024. Payment date of cash dividend distribution: 23 August 2024. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$1.08 (vs NT$1.21 in 1Q 2023) First quarter 2024 results: EPS: NT$1.08 (down from NT$1.21 in 1Q 2023). Revenue: NT$924.0m (down 9.0% from 1Q 2023). Net income: NT$100.4m (down 11% from 1Q 2023). Profit margin: 11% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • May 09
First Hi-tec Enterprise Co., Ltd. to Report Q1, 2024 Results on May 08, 2024 First Hi-tec Enterprise Co., Ltd. announced that they will report Q1, 2024 results on May 08, 2024 Reported Earnings • Mar 31
Full year 2023 earnings released: EPS: NT$5.07 (vs NT$3.98 in FY 2022) Full year 2023 results: EPS: NT$5.07 (up from NT$3.98 in FY 2022). Revenue: NT$4.35b (up 35% from FY 2022). Net income: NT$471.3m (up 27% from FY 2022). Profit margin: 11% (in line with FY 2022). 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 25% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$103, the stock trades at a trailing P/E ratio of 20x. Average trailing P/E is 21x in the Electronic industry in Taiwan. Total returns to shareholders of 133% over the past three years. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$146, the stock trades at a trailing P/E ratio of 28.6x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 241% over the past three years. New Risk • Oct 26
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 7.6% 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 (7.6% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: NT$1.51 (vs NT$1.05 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.51 (up from NT$1.05 in 2Q 2022). Revenue: NT$1.10b (up 52% from 2Q 2022). Net income: NT$141.0m (up 44% from 2Q 2022). Profit margin: 13% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. 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 6.2% 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 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 (6.2% average weekly change). Upcoming Dividend • Jul 14
Upcoming dividend of NT$3.30 per share at 3.3% yield Eligible shareholders must have bought the stock before 21 July 2023. Payment date: 18 August 2023. Payout ratio is on the higher end at 81%, however this is supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.2%). Valuation Update With 7 Day Price Move • Jul 13
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$101, the stock trades at a trailing P/E ratio of 24.8x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 146% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$180 per share. Reported Earnings • Mar 29
Full year 2022 earnings released: EPS: NT$3.98 (vs NT$4.61 in FY 2021) Full year 2022 results: EPS: NT$3.98 (down from NT$4.61 in FY 2021). Revenue: NT$3.22b (down 4.4% from FY 2021). Net income: NT$370.2m (down 9.0% from FY 2021). Profit margin: 12% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$55.80, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 83% over the past three years. 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. 11 experienced directors. No highly experienced directors. 2 independent directors (7 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 • Nov 13
Third quarter 2022 earnings released: EPS: NT$1.03 (vs NT$1.12 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.03 (down from NT$1.12 in 3Q 2021). Revenue: NT$777.7m (down 15% from 3Q 2021). Net income: NT$95.9m (down 3.3% from 3Q 2021). Profit margin: 12% (up from 11% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 16
Second quarter 2022 earnings released: EPS: NT$1.05 (vs NT$1.35 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.05 (down from NT$1.35 in 2Q 2021). Revenue: NT$725.0m (down 16% from 2Q 2021). Net income: NT$97.9m (down 15% from 2Q 2021). Profit margin: 14% (in line with 2Q 2021). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Upcoming Dividend • Jul 12
Upcoming dividend of NT$3.60 per share Eligible shareholders must have bought the stock before 19 July 2022. Payment date: 15 August 2022. Payout ratio is on the higher end at 78% but the company is not cash flow positive. Trailing yield: 8.7%. Within top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (4.9%). Buying Opportunity • Jun 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be NT$59.09, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 17%. Buying Opportunity • May 26
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be NT$59.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 17%. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$1.12 (vs NT$1.13 in 1Q 2021) First quarter 2022 results: EPS: NT$1.12. Revenue: NT$822.0m (up 5.3% from 1Q 2021). Net income: NT$104.2m (up 7.5% from 1Q 2021). Profit margin: 13% (in line with 1Q 2021). Buying Opportunity • May 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be NT$59.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 13%. 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. 11 experienced directors. No highly experienced directors. 2 independent directors (7 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. Aankondiging • Apr 02
First Hi-tec Enterprise Co., Ltd., Annual General Meeting, Jun 30, 2022 First Hi-tec Enterprise Co., Ltd., Annual General Meeting, Jun 30, 2022. Agenda: Regular (Special) Shareholders' Meetings. Reported Earnings • Mar 18
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$4.61 (up from NT$3.43 in FY 2020). Revenue: NT$3.37b (up 35% from FY 2020). Net income: NT$407.0m (up 38% from FY 2020). Profit margin: 12% (in line with FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$1.12 (vs NT$0.71 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: NT$914.4m (up 54% from 3Q 2020). Net income: NT$99.2m (up 62% from 3Q 2020). Profit margin: 11% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS NT$1.34 (vs NT$0.93 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$860.0m (up 29% from 2Q 2020). Net income: NT$115.6m (up 45% from 2Q 2020). Profit margin: 13% (up from 12% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 04
Upcoming dividend of NT$2.50 per share Eligible shareholders must have bought the stock before 11 August 2021. Payment date: 07 September 2021. Trailing yield: 3.5%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (3.0%). Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$1.13 (vs NT$0.87 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: NT$780.7m (up 37% from 1Q 2020). Net income: NT$96.9m (up 29% from 1Q 2020). Profit margin: 12% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 14
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$54.50, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 63% over the past three years. Reported Earnings • Mar 18
Full year 2020 earnings released: EPS NT$3.43 (vs NT$2.58 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$2.49b (up 14% from FY 2019). Net income: NT$294.9m (up 33% from FY 2019). Profit margin: 12% (up from 10% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Feb 20
New 90-day high: NT$61.00 The company is up 29% from its price of NT$47.25 on 20 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 24% over the same period. Is New 90 Day High Low • Jan 28
New 90-day high: NT$58.60 The company is up 34% from its price of NT$43.60 on 30 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 30% over the same period. Is New 90 Day High Low • Dec 28
New 90-day high: NT$54.50 The company is up 28% from its price of NT$42.50 on 30 September 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 17% over the same period. Is New 90 Day High Low • Dec 09
New 90-day high: NT$52.40 The company is up 20% from its price of NT$43.60 on 11 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 12% over the same period. Is New 90 Day High Low • Nov 16
New 90-day high: NT$47.00 The company is up 7.0% from its price of NT$43.80 on 18 August 2020. The Taiwanese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 3.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.71 The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: NT$592.7m (up 12% from 3Q 2019). Net income: NT$61.3m (up 20% from 3Q 2019). Profit margin: 10% (in line with 3Q 2019). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Sep 25
New 90-day low: NT$40.95 The company is down 15% from its price of NT$48.00 on 24 June 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 3.0% over the same period.