Valuation Update With 7 Day Price Move • 9h
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to NT$54.20, the stock trades at a trailing P/E ratio of 33x. Average forward P/E is 14x in the Tech industry in Taiwan. Total loss to shareholders of 5.0% over the past three years. Reported Earnings • May 16
First quarter 2026 earnings released: EPS: NT$0.57 (vs NT$0.22 in 1Q 2025) First quarter 2026 results: EPS: NT$0.57 (up from NT$0.22 in 1Q 2025). Revenue: NT$242.4m (up 18% from 1Q 2025). Net income: NT$21.3m (up 157% from 1Q 2025). Profit margin: 8.8% (up from 4.0% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Declared Dividend • May 08
Dividend reduced to NT$1.10 Dividend of NT$1.10 is 27% lower than last year. Ex-date: 28th May 2026 Payment date: 25th June 2026 Dividend yield will be 2.5%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by earnings (85% earnings payout ratio) but not covered by cash flows (343% cash payout ratio). The dividend has decreased over the past 96 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 2.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: NT$1.29 (vs NT$1.59 in FY 2024) Full year 2025 results: EPS: NT$1.29 (down from NT$1.59 in FY 2024). Revenue: NT$915.9m (up 3.0% from FY 2024). Net income: NT$47.9m (down 19% from FY 2024). Profit margin: 5.2% (down from 6.6% in FY 2024). The decrease in margin was driven by higher expenses. 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 13% per year, which means it has not declined as severely as earnings. Aankondiging • Mar 02
Aplex Technology Inc., Annual General Meeting, May 21, 2026 Aplex Technology Inc., Annual General Meeting, May 21, 2026. Location: 15- floor no,186, chien i rd., jhonghe district, new taipei city Taiwan Reported Earnings • Nov 11
Third quarter 2025 earnings released: EPS: NT$0.25 (vs NT$0.43 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.25 (down from NT$0.43 in 3Q 2024). Revenue: NT$207.8m (down 1.7% from 3Q 2024). Net income: NT$9.42m (down 41% from 3Q 2024). Profit margin: 4.5% (down from 7.5% in 3Q 2024). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$46.20, the stock trades at a trailing P/E ratio of 35.9x. Average forward P/E is 15x in the Tech industry in Taiwan. Total returns to shareholders of 6.0% over the past three years. Reported Earnings • Aug 18
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: EPS: NT$0.27 (up from NT$0.27 in 2Q 2024). Revenue: NT$252.3m (up 4.7% from 2Q 2024). Net income: NT$9.94m (flat on 2Q 2024). Profit margin: 3.9% (down from 4.1% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) missed analyst estimates by 44%. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$0.22 (vs NT$0.53 in 1Q 2024) First quarter 2025 results: EPS: NT$0.22 (down from NT$0.53 in 1Q 2024). Revenue: NT$206.2m (down 8.9% from 1Q 2024). Net income: NT$8.29m (down 58% from 1Q 2024). Profit margin: 4.0% (down from 8.7% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Declared Dividend • May 10
Dividend reduced to NT$1.50 Dividend of NT$1.50 is 42% lower than last year. Ex-date: 27th May 2025 Payment date: 26th June 2025 Dividend yield will be 3.6%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is not adequately covered by earnings (94% 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 increased by an average of 1.3% per year over the past 8 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 4.9% to bring the payout ratio under control. However, EPS is expected to remain steady over the next year, which means the dividend may need to be reduced to reach a sustainable payout ratio. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$39.65, the stock trades at a trailing P/E ratio of 24.9x. Average trailing P/E is 18x in the Tech industry in Taiwan. Total returns to shareholders of 17% over the past three years. Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$1.59 (vs NT$2.92 in FY 2023) Full year 2024 results: EPS: NT$1.59 (down from NT$2.92 in FY 2023). Revenue: NT$888.8m (down 5.8% from FY 2023). Net income: NT$59.0m (down 45% from FY 2023). Profit margin: 6.6% (down from 11% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. New Risk • Mar 09
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 6.0% 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: 188% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (6.0% average weekly change). Profit margins are more than 30% lower than last year (5.8% net profit margin). Market cap is less than US$100m (NT$2.05b market cap, or US$62.5m). Aankondiging • Mar 04
Aplex Technology Inc., Annual General Meeting, May 27, 2025 Aplex Technology Inc., Annual General Meeting, May 27, 2025, at 10:00 Taipei Standard Time. Location: b2 floor no,716, chung cheng rd., jhonghe district, new taipei city Taiwan Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$65.30, the stock trades at a trailing P/E ratio of 47.3x. Average trailing P/E is 22x in the Tech industry in Taiwan. Total returns to shareholders of 84% over the past three years. Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.43 (vs NT$0.90 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.43 (down from NT$0.90 in 3Q 2023). Revenue: NT$211.4m (down 6.7% from 3Q 2023). Net income: NT$16.0m (down 52% from 3Q 2023). Profit margin: 7.5% (down from 15% in 3Q 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Sep 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$59.30, the stock trades at a trailing P/E ratio of 32.1x. Average forward P/E is 14x in the Tech industry in Taiwan. Total returns to shareholders of 109% over the past three years. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to NT$60.10, the stock trades at a trailing P/E ratio of 32.6x. Average forward P/E is 15x in the Tech industry in Taiwan. Total returns to shareholders of 135% over the past three years. Buy Or Sell Opportunity • Aug 15
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 1.3% to NT$54.70. The fair value is estimated to be NT$43.07, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years, while earnings per share has been flat. Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: NT$0.27 (vs NT$1.11 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.27 (down from NT$1.11 in 2Q 2023). Revenue: NT$241.0m (down 13% from 2Q 2023). Net income: NT$9.87m (down 76% from 2Q 2023). Profit margin: 4.1% (down from 15% 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 1% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jul 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 6.5% 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 (97% payout ratio). Share price has been volatile over the past 3 months (6.5% average weekly change). Profit margins are more than 30% lower than last year (11% net profit margin). Market cap is less than US$100m (NT$2.25b market cap, or US$68.4m). Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$65.80, the stock trades at a trailing P/E ratio of 24.6x. Average forward P/E is 17x in the Tech industry in Taiwan. Total returns to shareholders of 162% over the past three years. Upcoming Dividend • May 22
Upcoming dividend of NT$2.60 per share Eligible shareholders must have bought the stock before 29 May 2024. Payment date: 26 June 2024. Payout ratio and cash payout ratio are on the higher end at 97% and 98% respectively. Trailing yield: 4.8%. Within top quartile of Taiwanese dividend payers (4.4%). Higher than average of industry peers (3.0%). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.53 (vs NT$0.77 in 1Q 2023) First quarter 2024 results: EPS: NT$0.53 (down from NT$0.77 in 1Q 2023). Revenue: NT$226.4m (down 1.8% from 1Q 2023). Net income: NT$19.6m (down 30% from 1Q 2023). Profit margin: 8.7% (down from 12% in 1Q 2023). The decrease in margin was primarily driven by higher expenses. 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. Reported Earnings • Mar 26
Full year 2023 earnings released: EPS: NT$2.92 (vs NT$5.35 in FY 2022) Full year 2023 results: EPS: NT$2.92 (down from NT$5.35 in FY 2022). Revenue: NT$943.8m (down 17% from FY 2022). Net income: NT$107.8m (down 37% from FY 2022). Profit margin: 11% (down from 15% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 12
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: NT$1.10 (up from NT$1.04 in 2Q 2022). Revenue: NT$275.4m (up 8.8% from 2Q 2022). Net income: NT$40.7m (up 30% from 2Q 2022). Profit margin: 15% (up from 12% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 8.3%. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 22
Upcoming dividend of NT$3.93 per share at 5.5% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 27 July 2023. Payout ratio is on the higher end at 77%, however this is supported by cash flows. Trailing yield: 5.5%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.9%). Reported Earnings • Mar 17
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: NT$5.35 (up from NT$3.58 in FY 2021). Revenue: NT$1.14b (up 30% from FY 2021). Net income: NT$171.6m (up 59% from FY 2021). Profit margin: 15% (up from 12% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 21%. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$57.00, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Tech industry in Taiwan. Total returns to shareholders of 112% over the past three years. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (5 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: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$45.55, the stock trades at a trailing P/E ratio of 12.1x. Average trailing P/E is 12x in the Tech industry in Taiwan. Total returns to shareholders of 44% over the past three years. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improved over the past week After last week's 16% share price gain to NT$51.30, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 13x in the Tech industry in Taiwan. Total returns to shareholders of 69% over the past three years. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$1.04 (vs NT$0.80 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.04 (up from NT$0.80 in 2Q 2021). Revenue: NT$253.2m (up 17% from 2Q 2021). Net income: NT$31.3m (up 30% from 2Q 2021). Profit margin: 12% (up from 11% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jun 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 5.3%. The fair value is estimated to be NT$51.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.3% over the last 3 years. Earnings per share has grown by 4.8%. Upcoming Dividend • Jun 15
Upcoming dividend of NT$3.00 per share Eligible shareholders must have bought the stock before 22 June 2022. Payment date: 08 July 2022. Payout ratio is on the higher end at 77%, however this is supported by cash flows. Trailing yield: 7.2%. Within top quartile of Taiwanese dividend payers (6.1%). In line with average of industry peers (7.0%). Buying Opportunity • May 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 1.7%. The fair value is estimated to be NT$51.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.6% over the last 3 years, while earnings per share has been flat. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (5 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: Lack of independent directors. Insufficient board refreshment. Buying Opportunity • Apr 12
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 6.3%. The fair value is estimated to be NT$51.97, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.6% over the last 3 years, while earnings per share has been flat. Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS NT$1.12 (vs NT$0.22 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$240.5m (up 57% from 3Q 2020). Net income: NT$33.6m (up 411% from 3Q 2020). Profit margin: 14% (up from 4.3% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Reported Earnings • Aug 12
Second quarter 2021 earnings released: EPS NT$0.80 (vs NT$0.58 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: NT$216.1m (up 43% from 2Q 2020). Net income: NT$24.0m (up 36% from 2Q 2020). Profit margin: 11% (in line with 2Q 2020). 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 10% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 29
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 05 August 2021. Payment date: 27 August 2021. Trailing yield: 3.2%. Lower than top quartile of Taiwanese dividend payers (5.0%). Lower than average of industry peers (5.2%). Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improved over the past week After last week's 23% share price gain to NT$33.35, the stock trades at a trailing P/E ratio of 24.7x. Average trailing P/E is 16x in the Tech industry in Taiwan. Total returns to shareholders of 48% over the past three years. Reported Earnings • May 17
First quarter 2021 earnings released: EPS NT$0.52 (vs NT$0.31 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$156.4m (up 5.7% from 1Q 2020). Net income: NT$15.7m (up 69% from 1Q 2020). Profit margin: 10% (up from 6.3% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 24
Full year 2020 earnings released: EPS NT$1.14 (vs NT$2.72 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$607.9m (down 21% from FY 2019). Net income: NT$34.3m (down 58% from FY 2019). Profit margin: 5.6% (down from 11% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Aankondiging • Mar 10
Aplex Technology Inc., Annual General Meeting, May 25, 2021 Aplex Technology Inc., Annual General Meeting, May 25, 2021. Is New 90 Day High Low • Mar 03
New 90-day low: NT$27.60 The company is down 10.0% from its price of NT$30.80 on 03 December 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 10.0% over the same period. Is New 90 Day High Low • Jan 20
New 90-day low: NT$28.65 The company is down 10.0% from its price of NT$31.95 on 23 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 14% over the same period. Is New 90 Day High Low • Dec 08
New 90-day low: NT$30.10 The company is down 18% from its price of NT$36.80 on 09 September 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 4.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.22 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$153.5m (down 14% from 3Q 2019). Net income: NT$6.59m (down 49% from 3Q 2019). Profit margin: 4.3% (down from 7.2% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Nov 03
New 90-day low: NT$30.70 The company is down 34% from its price of NT$46.60 on 05 August 2020. The Taiwanese market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is down 4.0% over the same period. Is New 90 Day High Low • Oct 08
New 90-day low: NT$31.40 The company is down 29% from its price of NT$44.50 on 10 July 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is down 2.0% over the same period.