New Risk • May 20
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 28% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 11% per year over the past 5 years. High level of non-cash earnings (28% accrual ratio). Reported Earnings • May 20
First quarter 2026 earnings released: EPS: NT$1.17 (vs NT$0.36 in 1Q 2025) First quarter 2026 results: EPS: NT$1.17 (up from NT$0.36 in 1Q 2025). Revenue: NT$1.34b (up 51% from 1Q 2025). Net income: NT$168.7m (up 225% from 1Q 2025). Profit margin: 13% (up from 5.8% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has increased by 129% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Mar 09
Topoint Technology Co., Ltd., Annual General Meeting, May 26, 2026 Topoint Technology Co., Ltd., Annual General Meeting, May 26, 2026, at 09:00 Taipei Standard Time. Location: no,203, sec.3 chia yuan rd., shulin district, new taipei city Taiwan Reported Earnings • Mar 09
Full year 2025 earnings released: EPS: NT$2.75 (vs NT$1.45 in FY 2024) Full year 2025 results: EPS: NT$2.75 (up from NT$1.45 in FY 2024). Revenue: NT$4.41b (up 25% from FY 2024). Net income: NT$389.3m (up 89% from FY 2024). Profit margin: 8.8% (up from 5.8% 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 36% per year but the company’s share price has increased by 100% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Dec 27
Topoint Technology Co., Ltd. has filed a Follow-on Equity Offering. Topoint Technology Co., Ltd. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 750,000
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 2,250,000
Transaction Features: Reserved Share Offering; Rights Offering Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$163, the stock trades at a trailing P/E ratio of 79.7x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 508% over the past three years. Reported Earnings • Nov 09
Third quarter 2025 earnings released: EPS: NT$0.77 (vs NT$0.48 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.77 (up from NT$0.48 in 3Q 2024). Revenue: NT$1.17b (up 22% from 3Q 2024). Net income: NT$109.4m (up 60% from 3Q 2024). Profit margin: 9.4% (up from 7.1% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 64% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to NT$111, the stock trades at a trailing P/E ratio of 63.5x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 384% over the past three years. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$99.20, the stock trades at a trailing P/E ratio of 56.7x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 294% over the past three years. Reported Earnings • Aug 09
Second quarter 2025 earnings released: EPS: NT$0.55 (vs NT$0.48 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.55 (up from NT$0.48 in 2Q 2024). Revenue: NT$1.01b (up 14% from 2Q 2024). Net income: NT$78.4m (up 16% from 2Q 2024). Profit margin: 7.7% (up from 7.6% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 31
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$63.20, the stock trades at a trailing P/E ratio of 37.8x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 153% over the past three years. Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$54.10, the stock trades at a trailing P/E ratio of 32.3x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 127% over the past three years. Board Change • Jul 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 1 highly experienced director. Director Yin-Jung Chen was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$39.30, the stock trades at a trailing P/E ratio of 23.5x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 48% over the past three years. Aankondiging • Jun 05
Topoint Technology Co., Ltd. Announces Cash Dividend, Payable on July 29, 2025 Topoint Technology Co., Ltd. announced Cash dividends, TWD 170,616,560. Ex-rights (ex-dividend) trading date: July 7, 2025. Ex-rights (ex-dividend) record date: July 9, 2025. Payment date of common stock cash dividend distribution: July 29, 2025. Declared Dividend • Jun 05
Dividend increased to NT$1.20 Dividend of NT$1.20 is 50% higher than last year. Ex-date: 3rd July 2025 Payment date: 29th July 2025 Dividend yield will be 4.2%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (72% 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 3.0% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 5.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • May 15
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 18% per year over the past 5 years. High level of non-cash earnings (22% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Aankondiging • May 03
Topoint Technology Co., Ltd. to Report Q1, 2025 Results on May 13, 2025 Topoint Technology Co., Ltd. announced that they will report Q1, 2025 results on May 13, 2025 Buy Or Sell Opportunity • Apr 10
Now 23% overvalued Over the last 90 days, the stock has fallen 28% to NT$23.70. The fair value is estimated to be NT$19.31, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.5% over the last 3 years. Meanwhile, the company has become profitable. New Risk • Apr 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.06b (US$93.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 17% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (NT$3.06b market cap, or US$93.1m). Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$23.80, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total loss to shareholders of 17% over the past three years. Aankondiging • Feb 27
Topoint Technology Co., Ltd., Annual General Meeting, May 27, 2025 Topoint Technology Co., Ltd., Annual General Meeting, May 27, 2025. Location: no,203, sec.3 chia yuan rd., shulin district, new taipei city Taiwan Aankondiging • Feb 19
Topoint Technology Co., Ltd. to Report Q4, 2024 Results on Feb 26, 2025 Topoint Technology Co., Ltd. announced that they will report Q4, 2024 results on Feb 26, 2025 Reported Earnings • Nov 10
Third quarter 2024 earnings released: EPS: NT$0.48 (vs NT$0.24 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.48 (up from NT$0.24 in 3Q 2023). Revenue: NT$961.8m (up 31% from 3Q 2023). Net income: NT$68.3m (up 97% from 3Q 2023). Profit margin: 7.1% (up from 4.7% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% 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, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. New Risk • Aug 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 14% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.6% average weekly change). Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.48 (vs NT$0.87 loss in 2Q 2023) Second quarter 2024 results: EPS: NT$0.48 (up from NT$0.87 loss in 2Q 2023). Revenue: NT$890.1m (up 45% from 2Q 2023). Net income: NT$67.7m (up NT$191.0m from 2Q 2023). Profit margin: 7.6% (up from net loss in 2Q 2023). The move to profitability 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 68 percentage points per year, which is a significant difference in performance. Aankondiging • Aug 03
Topoint Technology Co., Ltd. to Report Q2, 2024 Results on Aug 13, 2024 Topoint Technology Co., Ltd. announced that they will report Q2, 2024 results on Aug 13, 2024 Upcoming Dividend • Jun 27
Upcoming dividend of NT$0.80 per share Eligible shareholders must have bought the stock before 04 July 2024. Payment date: 29 July 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (4.2%). In line with average of industry peers (2.6%). Reported Earnings • May 13
First quarter 2024 earnings released: EPS: NT$0.15 (vs NT$0.11 in 1Q 2023) First quarter 2024 results: EPS: NT$0.15 (up from NT$0.11 in 1Q 2023). Revenue: NT$736.4m (up 19% from 1Q 2023). Net income: NT$21.3m (up 32% from 1Q 2023). Profit margin: 2.9% (up from 2.6% in 1Q 2023). 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 61 percentage points per year, which is a significant difference in performance. Aankondiging • May 02
Topoint Technology Co., Ltd. to Report Q1, 2024 Results on May 10, 2024 Topoint Technology Co., Ltd. announced that they will report Q1, 2024 results on May 10, 2024 New Risk • Feb 29
New major risk - Revenue and earnings growth Earnings have declined by 5.2% 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. Paying a dividend despite being loss-making. Dividend per share is over 6x cash flows per share. Earnings have declined by 5.2% per year over the past 5 years. Aankondiging • Feb 28
Topoint Technology Co., Ltd. Approves Cash Dividend for the Year 2023 Topoint Technology Co., Ltd. approved cash dividend of TWD 0.8 per share for the year 2023. Aankondiging • Jan 26
Topoint Technology Co., Ltd., Annual General Meeting, May 27, 2024 Topoint Technology Co., Ltd., Annual General Meeting, May 27, 2024. Agenda: To consider FY2023 business report; to consider the Audit Committee's Review Report on the 2023 Financial Statements; to consider FY2023 Earnings Distribution of cash dividends; to consider FY2023 remuneration of employees & directors report; to consider the status of guarantee provided by Topoint as of the end of 2023; to consider Acknowledgment of financial results for FY2023; to consider Acknowledgment of FY2023 profit distribution proposal. Reported Earnings • Nov 09
Third quarter 2023 earnings released: EPS: NT$0.24 (vs NT$0.30 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.24 (down from NT$0.30 in 3Q 2022). Revenue: NT$736.8m (down 16% from 3Q 2022). Net income: NT$34.6m (down 20% from 3Q 2022). Profit margin: 4.7% (down from 5.0% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Aug 05
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: NT$0.87 loss per share (down from NT$0.87 profit in 2Q 2022). Revenue: NT$612.6m (down 31% from 2Q 2022). Net loss: NT$123.3m (down 200% from profit in 2Q 2022). Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Electronic industry in Taiwan. 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 12% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 28
Upcoming dividend of NT$2.00 per share at 5.9% yield Eligible shareholders must have bought the stock before 04 August 2023. Payment date: 30 August 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.9%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (4.1%). Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$34.80, 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 75% over the past three years. New Risk • Jun 14
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 117% Cash payout ratio: 134% Dividend yield: 6.3% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 117% Cash payout ratio: 134% Minor Risk Profit margins are more than 30% lower than last year (7.7% net profit margin). Reported Earnings • Jun 14
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: EPS: NT$0.11 (down from NT$0.72 in 1Q 2022). Revenue: NT$616.6m (down 33% from 1Q 2022). Net income: NT$16.2m (down 84% from 1Q 2022). Profit margin: 2.6% (down from 11% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 9.7%. Earnings per share (EPS) also missed analyst estimates by 62%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 14% per year. Major Estimate Revision • May 06
Consensus revenue estimates decrease by 16% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from NT$3.56b to NT$2.98b. EPS estimate unchanged from NT$1.26 per share at last update. Electronic industry in Taiwan expected to see average net income decline 9.2% next year. Consensus price target of NT$32.00 unchanged from last update. Share price rose 2.2% to NT$29.60 over the past week. Reported Earnings • Feb 26
Full year 2022 earnings: Revenues and EPS in line with analyst expectations Full year 2022 results: EPS: NT$2.34 (down from NT$3.14 in FY 2021). Revenue: NT$3.51b (down 7.0% from FY 2021). Net income: NT$332.2m (down 26% from FY 2021). Profit margin: 9.5% (down from 12% in FY 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 2 years, compared to a 5.0% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Feb 24
Consensus EPS estimates fall by 24% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$3.76b to NT$3.56b. EPS estimate also fell from NT$3.06 per share to NT$2.34 per share. Net income forecast to shrink 8.6% next year vs 2.9% growth forecast for Electronic industry in Taiwan . Consensus price target of NT$32.00 unchanged from last update. Share price was steady at NT$29.40 over the past week. Aankondiging • Jan 14
Topoint Technology Co., Ltd. Announces the retirement of Tony Tseng as Chief Information Security Officer Topoint Technology Co., Ltd. announced the retirement of Tony Tseng as Chief Information security Officer. Effective date is January 14, 2023. Price Target Changed • Nov 16
Price target decreased to NT$32.00 Down from NT$39.50, the current price target is provided by 1 analyst. New target price is 9.0% above last closing price of NT$29.35. Stock is down 31% over the past year. The company is forecast to post earnings per share of NT$2.57 for next year compared to NT$3.14 last year. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Andrew Hsu was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Nov 11
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from NT$3.63b to NT$3.54b. EPS estimate also fell from NT$3.24 per share to NT$2.57 per share. Net income forecast to grow 12% next year vs 9.3% growth forecast for Electronic industry in Taiwan. Consensus price target of NT$32.00 unchanged from last update. Share price was steady at NT$29.45 over the past week. Reported Earnings • Nov 07
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: NT$0.30 (down from NT$0.93 in 3Q 2021). Revenue: NT$872.8m (down 17% from 3Q 2021). Net income: NT$43.3m (down 67% from 3Q 2021). Profit margin: 5.0% (down from 13% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.8%. Earnings per share (EPS) also missed analyst estimates by 63%. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Electronic industry in Taiwan. 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 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 07
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: NT$0.87 (up from NT$0.84 in 2Q 2021). Revenue: NT$892.3m (down 4.4% from 2Q 2021). Net income: NT$123.5m (up 3.9% from 2Q 2021). Profit margin: 14% (up from 13% in 2Q 2021). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 21%. Over the next year, revenue is expected to shrink by 4.2% 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 35% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Aankondiging • Aug 05
Topoint Technology Co., Ltd. Establishes Corporate Sustainability Committee Topoint Technology Co., Ltd. established Corporate Sustainability Committee, which includes Karen Lin(Company Director), Andrew Hsu (Company Independent Director) and Jeff Chen(Company Independent Director) as members, effective date of the new member as August 4, 2022. Board Change • Aug 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Andrew Hsu was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Jul 14
Upcoming dividend of NT$2.30 per share Eligible shareholders must have bought the stock before 21 July 2022. Payment date: 23 August 2022. Payout ratio is a comfortable 72% and this is well supported by cash flows. Trailing yield: 7.9%. Within top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (4.9%). Aankondiging • Jul 09
Topoint Technology Co., Ltd. Appoints Tony Tseng as Chief Information Security Officer Topoint Technology Co., Ltd. announced that name, title, and resume of the new position holder: Tony Tseng, IT Director of Topoint Technology Co., Ltd. as Chief Information security officer. Type of the change (please enter: ¨resignation¡¨, ¨positionadjustment¡¨, ¡¨dismissal¡¨, ¡¨retirement¡¨, ¡¨death¡¨ or ¡¨new replacement¡¨): New replacement. Reason for the change: New replacement. Effective date is July 8, 2022. Board Change • Jul 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Andrew Hsu was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 11
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: NT$0.72 (up from NT$0.65 in 1Q 2021). Revenue: NT$917.9m (up 18% from 1Q 2021). Net income: NT$102.1m (up 10% from 1Q 2021). Profit margin: 11% (in line with 1Q 2021). Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) exceeded analyst estimates by 1.4%. Over the next year, revenue is forecast to grow 6.7%, compared to a 10.0% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 34% 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 • Apr 27
Price target decreased to NT$45.00 Down from NT$50.00, the current price target is provided by 1 analyst. New target price is 36% above last closing price of NT$33.15. Stock is down 21% over the past year. The company is forecast to post earnings per share of NT$3.39 for next year compared to NT$3.14 last year. Board Change • Apr 27
High number of new directors There are 7 new directors who have joined the board in the last 3 years. President & Director Karen Lin was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 28
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: NT$3.14 (up from NT$1.98 in FY 2020). Revenue: NT$3.77b (up 27% from FY 2020). Net income: NT$446.5m (up 58% from FY 2020). Profit margin: 12% (up from 9.5% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates by 3.3%. Over the next year, revenue is forecast to grow 10.0%, compared to a 9.1% growth forecast for the industry in Taiwan. 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 23% per year, which means it is significantly lagging earnings growth. Aankondiging • Feb 26
Topoint Technology Co., Ltd., Annual General Meeting, Jun 09, 2022 Topoint Technology Co., Ltd., Annual General Meeting, Jun 09, 2022. Location: No. 203, Sec. 3, Jiayuan Rd., Shulin District, New Taipei City 238 New Taipei City Taiwan Agenda: To consider FY2021 business report; to consider the Audit Committee's Review Report on the 2021 Financial Statements; to consider FY2021 Earnings Distribution of cash dividends; to consider FY2021 remuneration of employees & directors report; to consider the status of guarantee provided by Topoint as of the end of 2021; and to consider other matters. Price Target Changed • Feb 25
Price target decreased to NT$45.00 Down from NT$49.00, the current price target is provided by 1 analyst. New target price is 17% above last closing price of NT$38.60. Stock is up 30% over the past year. The company is forecast to post earnings per share of NT$2.99 for next year compared to NT$1.98 last year. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$0.93 (vs NT$0.66 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$1.05b (up 32% from 3Q 2020). Net income: NT$131.9m (up 40% from 3Q 2020). Profit margin: 13% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$0.84 (vs NT$0.44 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$933.7m (up 27% from 2Q 2020). Net income: NT$118.9m (up 91% from 2Q 2020). Profit margin: 13% (up from 8.5% 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 16% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 02
Upcoming dividend of NT$1.58 per share Eligible shareholders must have bought the stock before 09 August 2021. Payment date: 02 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 08
First quarter 2021 earnings released: EPS NT$0.65 (vs NT$0.15 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$779.7m (up 30% from 1Q 2020). Net income: NT$92.6m (up 333% from 1Q 2020). Profit margin: 12% (up from 3.6% 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 6% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improved over the past week After last week's 18% share price gain to NT$40.00, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Electronic industry in Taiwan. Total returns to shareholders of 115% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$50.97 per share. Aankondiging • Mar 20
Topoint Technology Co., Ltd., Annual General Meeting, Jun 09, 2021 Topoint Technology Co., Ltd., Annual General Meeting, Jun 09, 2021. Location: No. 203, Sec. 3, Jiayuan Rd. Shulin District New Taipei City Taiwan Agenda: To consider fiscal year 2020 business report; to consider fiscal year 2020 supervisors' audit report; to consider fiscal year 2020 remuneration of employees & directors report; to consider the status of guarantee provided by Topoint as of the end of 2020; to consider amendment to part of the code of ethics and professional conduct for directors, supervisors and officers; to consider acknowledgment of financial results for fiscal year 2020; to consider acknowledgment of fiscal year profit distribution proposal; to consider amendment to part of The Articles of Association of the Company; and to consider amendment to part of The Procedure of the Acquisition and Disposal of Assets, to part of The Endorsement & Guarantee Procedures, amendment to part of The Procedure of External Lending, amendment to part of The Policies and Procedures for Financial Derivatives Transactions, and amendment to part of The Regulations for the Election of Directors and Supervisors. Analyst Estimate Surprise Post Earnings • Feb 28
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 3.2%. Over the next year, revenue is forecast to grow 7.7%, compared to a 16% growth forecast for the Electronic industry in Taiwan. Reported Earnings • Feb 27
Full year 2020 earnings released: EPS NT$1.98 (vs NT$1.34 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$2.97b (down 1.1% from FY 2019). Net income: NT$282.0m (up 48% from FY 2019). Profit margin: 9.5% (up from 6.3% 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 3% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 26
New 90-day high: NT$29.60 The company is up 11% from its price of NT$26.75 on 27 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 23% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$82.59 per share. Is New 90 Day High Low • Jan 04
New 90-day high: NT$29.30 The company is up 29% from its price of NT$22.75 on 06 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$83.47 per share. Is New 90 Day High Low • Dec 08
New 90-day high: NT$27.90 The company is up 20% from its price of NT$23.20 on 09 September 2020. The Taiwanese market is up 12% 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. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$71.15 per share. Valuation Update With 7 Day Price Move • Nov 17
Market bids up stock over the past week After last week's 16% share price gain to NT$25.95, the stock is trading at a trailing P/E ratio of 17.6x, up from the previous P/E ratio of 15.1x. This compares to an average P/E of 16x in the Electronic industry in Taiwan. Total returns to shareholders over the past three years are 31%. Reported Earnings • Nov 12
Third quarter 2020 earnings released: EPS NT$0.66 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$799.8m (up 2.8% from 3Q 2019). Net income: NT$94.1m (up 35% from 3Q 2019). Profit margin: 12% (up from 9.0% in 3Q 2019). The increase in margin was primarily driven by higher revenue. 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 3% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Nov 12
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) missed analyst estimates by 13%. Over the next year, revenue is forecast to grow 5.4%, compared to a 11% growth forecast for the Electronic industry in Taiwan. Is New 90 Day High Low • Nov 11
New 90-day high: NT$24.55 The company is up 7.0% from its price of NT$22.95 on 13 August 2020. The Taiwanese market is up 3.0% 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. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$105 per share. Aankondiging • Oct 13
Topoint Technology Co., Ltd. Announces the Demise of Jia-Hong, Wang as Director of the Company Topoint Technology Co., Ltd. announced the demise of Jia-hong, Wang as director of the company. Date of occurrence of the change was October 09, 2020. Is New 90 Day High Low • Sep 24
New 90-day low: NT$21.60 The company is down 2.0% from its price of NT$22.10 on 24 June 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$106 per share.