Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$27.15, the stock trades at a trailing P/E ratio of 26x. Average trailing P/E is 24x in the Tech industry in Taiwan. Total returns to shareholders of 123% over the past three years. Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: NT$1.05 (vs NT$1.11 in FY 2024) Full year 2025 results: EPS: NT$1.05 (down from NT$1.11 in FY 2024). Revenue: NT$163.5b (flat on FY 2024). Net income: NT$1.57b (down 4.6% from FY 2024). Profit margin: 1.0% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 21% per year. Aankondiging • Mar 12
Kinpo Electronics, Inc., Annual General Meeting, May 25, 2026 Kinpo Electronics, Inc., Annual General Meeting, May 25, 2026, at 09:00 Taipei Standard Time. Location: no,147, sec.3 pei shen rd., shenkeng district, new taipei city Taiwan New Risk • Jan 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 Risks High level of debt (73% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to NT$25.60, the stock trades at a trailing P/E ratio of 25.6x. Average trailing P/E is 21x in the Tech industry in Taiwan. Total returns to shareholders of 103% over the past three years. Buy Or Sell Opportunity • Jan 23
Now 26% undervalued Over the last 90 days, the stock has risen 21% to NT$27.40. The fair value is estimated to be NT$36.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 26%. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$27.55, the stock trades at a trailing P/E ratio of 27.6x. Average trailing P/E is 21x in the Tech industry in Taiwan. Total returns to shareholders of 125% over the past three years. Reported Earnings • Nov 17
Third quarter 2025 earnings released: EPS: NT$0.30 (vs NT$0.35 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.30 (down from NT$0.35 in 3Q 2024). Revenue: NT$41.3b (down 10% from 3Q 2024). Net income: NT$451.4m (down 14% from 3Q 2024). Profit margin: 1.1% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. New Risk • Nov 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (74% net debt to equity). 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 (6.7% average weekly change). Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: NT$0.20 (vs NT$0.30 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.20 (down from NT$0.30 in 2Q 2024). Revenue: NT$37.4b (down 6.6% from 2Q 2024). Net income: NT$293.8m (down 35% from 2Q 2024). Profit margin: 0.8% (down from 1.1% in 2Q 2024). 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 14% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jun 15
Dividend increased to NT$0.60 Dividend of NT$0.60 is 100% higher than last year. Ex-date: 1st July 2025 Payment date: 31st July 2025 Dividend yield will be 2.9%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 8.0% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 32% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Aankondiging • Jun 04
Kinpo Electronics, Inc. Approves Board Elections Kinpo Electronics, Inc. approved election of Hsu, Chieh-Li as Director, Chiu, Tai-Shan and Hu, Gin-Ing as Independent Directors. Date of the shareholders meeting: June 3, 2025. Reported Earnings • May 16
First quarter 2025 earnings released: EPS: NT$0.35 (vs NT$0.30 in 1Q 2024) First quarter 2025 results: EPS: NT$0.35 (up from NT$0.30 in 1Q 2024). Revenue: NT$41.9b (up 28% from 1Q 2024). Net income: NT$524.8m (up 20% from 1Q 2024). Profit margin: 1.3% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Aankondiging • May 07
Kinpo Electronics, Inc. to Report Q1, 2025 Results on May 14, 2025 Kinpo Electronics, Inc. announced that they will report Q1, 2025 results on May 14, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$18.10, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 18x in the Tech industry in Taiwan. Total returns to shareholders of 27% over the past three years. New Risk • Mar 30
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.6% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. 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 Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Mar 20
Full year 2024 earnings released: EPS: NT$1.11 (vs NT$0.51 in FY 2023) Full year 2024 results: EPS: NT$1.11 (up from NT$0.51 in FY 2023). Revenue: NT$164.4b (up 2.9% from FY 2023). Net income: NT$1.65b (up 119% from FY 2023). Profit margin: 1.0% (up from 0.5% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Aankondiging • Mar 13
Kinpo Electronics, Inc., Annual General Meeting, Jun 03, 2025 Kinpo Electronics, Inc., Annual General Meeting, Jun 03, 2025. Location: no,147, sec.3 pei shen rd., shenkeng district, new taipei city Taiwan Aankondiging • Mar 05
Kinpo Electronics, Inc. to Report Q4, 2024 Results on Mar 12, 2025 Kinpo Electronics, Inc. announced that they will report Q4, 2024 results on Mar 12, 2025 New Risk • Dec 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (8.1% average weekly change). Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$32.20, the stock trades at a trailing P/E ratio of 33.3x. Average trailing P/E is 22x in the Tech industry in Taiwan. Total returns to shareholders of 150% over the past three years. Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.35 (vs NT$0.24 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.35 (up from NT$0.24 in 3Q 2023). Revenue: NT$46.0b (up 16% from 3Q 2023). Net income: NT$522.9m (up 47% from 3Q 2023). Profit margin: 1.1% (up from 0.9% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Aankondiging • Nov 14
Kinpo Electronics, Inc. Approves Establishment of Risk Management Committee and Appoint Members Kinpo Electronics, Inc. announced that the Board of Directors approved to establish Risk Management Committee. Name of the new position holder: Hsu, Sheng-Hsiung; Chen, Wei-Chang; Hsieh, Fa-Dah; Huang, Chih-Peng; Wu, Chung-Fern. Resume of the new position holder: Hsu, Sheng-Hsiung /Chairman of the company. Chen, Wei-Chang /Director & General Manager of the company. Hsieh, Fa-Dah /Independent director of the company. Huang, Chih-Peng /Independent director of the company. Wu, Chung-Fern /Independent director of the company. Effective date of the new member: November 13, 2024. The term is from November 13, 2024, until the end of the current board's term. Aankondiging • Nov 06
Kinpo Electronics, Inc. to Report Q3, 2024 Results on Nov 13, 2024 Kinpo Electronics, Inc. announced that they will report Q3, 2024 results on Nov 13, 2024 Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$25.60, the stock trades at a trailing P/E ratio of 30x. Average trailing P/E is 21x in the Tech industry in Taiwan. Total returns to shareholders of 122% over the past three years. New Risk • Sep 02
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 17% 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 Risk Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Minor Risk Share price has been volatile over the past 3 months (8.4% average weekly change). Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: NT$0.30 (vs NT$0.087 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.30 (up from NT$0.087 in 2Q 2023). Revenue: NT$40.1b (up 1.7% from 2Q 2023). Net income: NT$452.0m (up 252% from 2Q 2023). Profit margin: 1.1% (up from 0.3% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Aankondiging • Aug 07
Kinpo Electronics, Inc. to Report Q2, 2024 Results on Aug 14, 2024 Kinpo Electronics, Inc. announced that they will report Q2, 2024 results on Aug 14, 2024 Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$21.65, the stock trades at a trailing P/E ratio of 34.1x. Average trailing P/E is 25x in the Tech industry in Taiwan. Total returns to shareholders of 74% over the past three years. Declared Dividend • Jun 21
Dividend of NT$0.30 announced Shareholders will receive a dividend of NT$0.30. Ex-date: 4th July 2024 Payment date: 2nd August 2024 Dividend yield will be 1.6%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by both earnings (47% earnings payout ratio) and cash flows (4% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Aankondiging • Jun 20
Kinpo Electronics, Inc. Approves Revised Cash Dividend, Payable on August 2, 2024 Kinpo Electronics, Inc. approved revised cash dividend of TWD 444,602,464 or TWD 0.29977729 cash dividend per share. Payment date of common stock cash dividend distribution August 2, 2024. Ex-rights (ex-dividend) record date of July 10, 2024. Reported Earnings • May 18
First quarter 2024 earnings released: EPS: NT$0.30 (vs NT$0.17 in 1Q 2023) First quarter 2024 results: EPS: NT$0.30 (up from NT$0.17 in 1Q 2023). Revenue: NT$32.9b (down 16% from 1Q 2023). Net income: NT$438.4m (up 76% from 1Q 2023). Profit margin: 1.3% (up from 0.6% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Aankondiging • May 08
Kinpo Electronics, Inc. to Report Q1, 2024 Results on May 14, 2024 Kinpo Electronics, Inc. announced that they will report Q1, 2024 results on May 14, 2024 New Risk • Mar 22
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 20% 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 Risk Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Mar 17
Full year 2023 earnings released: EPS: NT$0.51 (vs NT$0.69 in FY 2022) Full year 2023 results: EPS: NT$0.51 (down from NT$0.69 in FY 2022). Revenue: NT$159.8b (down 12% from FY 2022). Net income: NT$751.0m (down 26% from FY 2022). Profit margin: 0.5% (down from 0.6% 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 69% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Aankondiging • Mar 12
Kinpo Electronics, Inc., Annual General Meeting, Jun 06, 2024 Kinpo Electronics, Inc., Annual General Meeting, Jun 06, 2024. Location: No.147, Sec. 3, Beishen Rd., Shenkeng Dist. Taipei City Taiwan Agenda: To report the business of 2023; to consider Audit Committee's review report; to report 2023 employees' profit sharing bonus and directors' compensation; to report on the distribution of cash dividends in 2023; and to lift non-competition restrictions on directors and their representatives. New Risk • Dec 07
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company. New Risk • Nov 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% 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: Minor Risks High level of debt (117% net debt to equity). Large one-off items impacting financial results. Aankondiging • Oct 27
Kinpo Electronics, Inc. Announces the Resignation of Shiau Ching-Hwa as Head of Corporate Governance Kinpo Electronics, Inc. announced the resignation of Shiau Ching-Hwa as Head of corporate governance. Effective date: October 26, 2023. Aankondiging • Sep 08
Kinpo Electronics, Inc. Announces to Appoint Members of the First Term of Sustainability Committee Kinpo Electronics, Inc. announces to appoint members of the 1st term of Sustainability Committee. Name of the new position holder: HSIEH,FA-DAH; HUANG,CHIH-PENG; WU,CHUNG-FERN; CHEN,WEI-CHANG; Resume of the new position holder: HSIEH,FA-DAH¡G the independent director of KINPO ELECTRONICS, INC. the chairman of Abico Asia Capital Co. Ltd. the represent of Taipei Representative Office in Singapore(ambassador).etc. HUANG,CHIH-PENG¡G the independent director of KINPO ELECTRONICS, INC. the independent director of AMPACS CORPORATION: the director of Bureau of Foreign Trade.etc. WU,CHUNG-FERN the independent director of KINPO ELECTRONICS, INC. the independent director of EVERLIGHT CHEMICAL INDUSTRIAL CORPORATION; the professor of Accounting, National Taiwan University Financial Supervisory Commission R.O.C.(Minister without Portfolio).etc. CHEN,WEI-CHANG¡G the director & president of KINPO ELECTRONICS, INC. the director of Acbel Polytech Inc.¡F the CEO of KINPO sustainability committee. etc. Effective date of the new member: September 7, 2023. Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: NT$0.09 (vs NT$0.17 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.09 (down from NT$0.17 in 2Q 2022). Revenue: NT$39.4b (down 5.0% from 2Q 2022). Net income: NT$128.4m (down 49% from 2Q 2022). Profit margin: 0.3% (down from 0.6% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. New Risk • Aug 11
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 Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risk Share price has been volatile over the past 3 months (6.3% average weekly change). Upcoming Dividend • Jun 21
Upcoming dividend of NT$0.30 per share at 2.0% yield Eligible shareholders must have bought the stock before 28 June 2023. Payment date: 25 July 2023. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.0%). Buying Opportunity • Jun 12
Now 20% undervalued Over the last 90 days, the stock is up 8.0%. The fair value is estimated to be NT$17.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 56%. Aankondiging • Jun 09
Kinpo Electronics, Inc. Revises Cash Dividend, Payable on July 25, 2023 Kinpo Electronics, Inc. announced revised cash dividend as follows: Original: Cash dividend TWD 440,245,264, TWD 0.3 cash dividend per share. Revised: Cash dividend TWD 440,245,264, TWD 0.299810612 cash dividend per share. Ex-rights (ex-dividend) trading date: June 28, 2023. Ex-rights (ex-dividend) record date: July 4, 2023. Payment date of cash dividend distribution: July 25, 2023. Reported Earnings • Mar 15
Full year 2022 earnings released: EPS: NT$0.69 (vs NT$0.01 in FY 2021) Full year 2022 results: EPS: NT$0.69 (up from NT$0.01 in FY 2021). Revenue: NT$181.4b (up 30% from FY 2021). Net income: NT$1.01b (up NT$998.2m from FY 2021). Profit margin: 0.6% (up from 0% in FY 2021). The increase in margin was driven by higher 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 11% per year, which means it is significantly lagging earnings growth. Aankondiging • Jan 17
CastleNet Technology Inc. Announces Change in Representative of the Company's Institutional Director CastleNet Technology Inc. announced change in representative of the Company's institutional director. Date of occurrence of the change: January 16, 2023. Name of legal person: Kinpo Electronics, Inc. Name of the previous position holder: WEN-HAN, HSU. Resume of the previous position holder: The senior director of Kinpo Electronics, Inc. Name of the new position holder: CHING-HWA, SHIAU. Resume of the new position holder: The Corporate governance officer of Kinpo Electronics, Inc. Reason for the change: Kinpo Electronics, Inc. assigned a new representative to serve as institutional director. Original term: From June 27, 2022 to June 26, 2025. Effective date of the new appointment: January 16, 2023. Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 9 non-independent directors. Independent Director Tsung-Fan Wu 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 • Nov 11
Kinpo Electronics, Inc. Announces Appointment of Chou,Yeh-Li as Chief Information Security Officer Kinpo Electronics, Inc. announced appointment of Chou,Yeh-Li as chief information security officer. Effective date is November 9, 2022. Reported Earnings • Aug 16
Second quarter 2022 earnings released: EPS: NT$0.17 (vs NT$0.033 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.17 (up from NT$0.033 in 2Q 2021). Revenue: NT$41.5b (up 30% from 2Q 2021). Net income: NT$253.9m (up 450% from 2Q 2021). Profit margin: 0.6% (up from 0.1% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Aankondiging • Aug 12
Kinpo Electronics, Inc. Appoints Hsu, Sheng-Hsiung as Group CEO Kinpo Electronics, Inc. announced the appointment of Hsu, Sheng-Hsiung as Group CEO with effect from August 11, 2022. Resume of the new position holder: Chairman of BOD, Chairman of Kinpo Electronics, Inc. Aankondiging • Jul 29
Kinpo Electronics, Inc. Ordinary Shares to Be Deleted from OTC Equity Kinpo Electronics, Inc. Ordinary Shares will be deleted from OTC Equity effective from July 29, 2022, due to Inactive Security. Upcoming Dividend • Jul 26
Upcoming dividend of NT$0.20 per share Eligible shareholders must have bought the stock before 02 August 2022. Payment date: 26 August 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 1.5%. Lower than top quartile of Taiwanese dividend payers (6.6%). Lower than average of industry peers (4.9%). Aankondiging • Jul 19
Kinpo Electronics, Inc. Revises Cash Dividend, Payable on August 26, 2022 Kinpo Electronics, Inc. announced revised cash dividend of TWD 0.19838236 per share. Ex-rights (ex-dividend) record date is August 8, 2022. Cash dividend will be distributed on August 26, 2022. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$11.60, the stock trades at a trailing P/E ratio of 63.8x. Average trailing P/E is 13x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 19% over the past three years. Reported Earnings • May 18
First quarter 2022 earnings released: EPS: NT$0.23 (vs NT$0.061 in 1Q 2021) First quarter 2022 results: EPS: NT$0.23 (up from NT$0.061 in 1Q 2021). Revenue: NT$40.1b (up 17% from 1Q 2021). Net income: NT$333.8m (up 306% from 1Q 2021). Profit margin: 0.8% (up from 0.2% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 19
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$0.01 (down from NT$0.10 in FY 2020). Revenue: NT$139.8b (up 9.0% from FY 2020). Net income: NT$14.3m (down 90% from FY 2020). Profit margin: 0% (down from 0.1% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.04 (vs NT$0.12 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$35.3b (up 1.6% from 3Q 2020). Net income: NT$56.0m (down 64% from 3Q 2020). Profit margin: 0.2% (down from 0.4% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$0.03 (vs NT$0.18 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$31.9b (up 15% from 2Q 2020). Net income: NT$46.2m (down 81% from 2Q 2020). Profit margin: 0.1% (down from 0.9% 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 37% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 16
Upcoming dividend of NT$0.29 per share Eligible shareholders must have bought the stock before 22 June 2021. Payment date: 16 July 2021. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (5.0%). Lower than average of industry peers (3.7%). Aankondiging • Jun 03
Kinpo Electronics, Inc. Revises Cash Dividend, Payable on July 16, 2021 Kinpo Electronics, Inc. announced revised cash dividend of TWD 0.29126176 per share from original cash dividend of TWD 0.3 per share. Ex-rights (ex-dividend) record date is June 28, 2021. Cash dividend will be distributed on July 16, 2021. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.06 (vs NT$0.032 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$34.2b (up 21% from 1Q 2020). Net income: NT$82.1m (up 90% from 1Q 2020). Profit margin: 0.2% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$0.11 (vs NT$0.34 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$128.2b (down 6.8% from FY 2019). Net income: NT$142.2m (down 69% from FY 2019). Profit margin: 0.1% (down from 0.3% 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 3% per year whereas the company’s share price has increased by 8% per year. Is New 90 Day High Low • Jan 19
New 90-day high: NT$13.65 The company is up 22% from its price of NT$11.15 on 21 October 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 8.0% over the same period. Valuation Update With 7 Day Price Move • Dec 07
Market bids up stock over the past week After last week's 17% share price gain to NT$13.00, the stock is trading at a trailing P/E ratio of 63.5x, up from the previous P/E ratio of 54.5x. This compares to an average P/E of 17x in the Consumer Durables industry in Taiwan. Total returns to shareholders over the past three years are 38%. Is New 90 Day High Low • Dec 01
New 90-day high: NT$11.85 The company is up 6.0% from its price of NT$11.15 on 02 September 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Consumer Durables industry, which is up 5.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.11 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$34.8b (down 1.5% from 3Q 2019). Net income: NT$154.4m (down 8.1% from 3Q 2019). Profit margin: 0.4% (down from 0.5% in 3Q 2019). The decrease in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 3% per year.