Major Estimate Revision • May 28
Consensus EPS estimates increase by 17% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from NT$10.46 to NT$12.24. Revenue forecast steady at NT$10.9b. Net income forecast to grow 7.1% next year vs 28% growth forecast for Auto Components industry in Taiwan. Consensus price target of NT$156 unchanged from last update. Share price rose 2.1% to NT$122 over the past week. Reported Earnings • May 09
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: EPS: NT$1.00 (down from NT$3.00 in 1Q 2025). Revenue: NT$2.12b (down 8.8% from 1Q 2025). Net income: NT$190.9m (down 43% from 1Q 2025). Profit margin: 9.0% (down from 14% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 59%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Auto Components industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$124, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Auto Components industry in Taiwan. Total returns to shareholders of 6.6% over the past three years. New Risk • Apr 29
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 5.2% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 14
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: NT$10.74 (down from NT$12.18 in FY 2024). Revenue: NT$9.82b (up 12% from FY 2024). Net income: NT$1.26b (down 4.0% from FY 2024). Profit margin: 13% (down from 15% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.1%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Auto Components industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Mar 11
Hu Lane Associate Inc., Annual General Meeting, May 26, 2026 Hu Lane Associate Inc., Annual General Meeting, May 26, 2026, at 09:00 Taipei Standard Time. Location: b1 floor no,1 ln.342, fu to 1st rd., sijhih district, new taipei city Taiwan Reported Earnings • Nov 17
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: NT$2.54 (down from NT$2.90 in 3Q 2024). Revenue: NT$2.33b (up 8.5% from 3Q 2024). Net income: NT$304.7m (down 2.1% from 3Q 2024). Profit margin: 13% (down from 14% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 1.2%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Auto Components industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • Aug 27
Upcoming dividend of NT$6.00 per share Eligible shareholders must have bought the stock before 03 September 2025. Payment date: 09 October 2025. The company last paid an ordinary dividend in March 2015. The average dividend yield among industry peers is 4.7%. Reported Earnings • Aug 14
Second quarter 2025 earnings: EPS misses analyst expectations Second quarter 2025 results: EPS: NT$0.80 (down from NT$2.84 in 2Q 2024). Revenue: NT$2.17b (up 8.7% from 2Q 2024). Net income: NT$90.7m (down 69% from 2Q 2024). Profit margin: 4.2% (down from 14% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 21%. Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Auto Components industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Major Estimate Revision • Aug 11
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$10.0b to NT$9.85b. EPS estimate also fell from NT$12.12 per share to NT$10.83 per share. Net income forecast to grow 0.03% next year vs 14% growth forecast for Auto Components industry in Taiwan. Consensus price target down from NT$185 to NT$178. Share price rose 5.9% to NT$144 over the past week. Declared Dividend • Aug 09
Dividend of NT$6.00 announced Shareholders will receive a dividend of NT$6.00. Ex-date: 3rd September 2025 Payment date: 9th October 2025 Dividend yield will be 4.3%, which is higher than the industry average of 3.0%. Sustainability & Growth The dividend has increased over the past 10 years. However, payments have been volatile during that time. Reported Earnings • May 10
First quarter 2025 earnings: Revenues and EPS in line with analyst expectations First quarter 2025 results: EPS: NT$3.15. Revenue: NT$2.33b (up 23% from 1Q 2024). Net income: NT$335.1m (up 1.4% from 1Q 2024). Profit margin: 14% (down from 18% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Auto Components industry in Taiwan. Announcement • Apr 30
Hu Lane Associate Inc. to Report Q1, 2025 Results on May 08, 2025 Hu Lane Associate Inc. announced that they will report Q1, 2025 results on May 08, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$137, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Auto Components industry in Taiwan. Total returns to shareholders of 33% over the past three years. Announcement • Mar 14
Hu Lane Associate Inc., Annual General Meeting, Jun 26, 2025 Hu Lane Associate Inc., Annual General Meeting, Jun 26, 2025, at 09:00 Taipei Standard Time. Location: b1 floor no,1 ln.342, fu to 1st rd., sijhih district, new taipei city Taiwan Reported Earnings • Mar 14
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: NT$12.79 (up from NT$9.02 in FY 2023). Revenue: NT$8.80b (up 20% from FY 2023). Net income: NT$1.31b (up 42% from FY 2023). Profit margin: 15% (up from 13% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.0%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Auto Components 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 13% per year. Announcement • Mar 05
Hu Lane Associate Inc. to Report Fiscal Year 2024 Results on Mar 12, 2025 Hu Lane Associate Inc. announced that they will report fiscal year 2024 results on Mar 12, 2025 Reported Earnings • Nov 17
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: NT$3.05 (up from NT$2.83 in 3Q 2023). Revenue: NT$2.14b (up 14% from 3Q 2023). Net income: NT$311.2m (up 7.7% from 3Q 2023). Profit margin: 14% (in line with 3Q 2023). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 5.8%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Auto Components industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 10% per year. Upcoming Dividend • Aug 28
Upcoming dividend of NT$5.00 per share Eligible shareholders must have bought the stock before 04 September 2024. Payment date: 09 October 2024. Payout ratio is a comfortable 69% but the company is not cash flow positive. Trailing yield: 3.6%. Lower than top quartile of Taiwanese dividend payers (4.3%). In line with average of industry peers (3.3%). Reported Earnings • Aug 15
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: NT$2.91 (up from NT$0.73 in 2Q 2023). Revenue: NT$1.99b (up 26% from 2Q 2023). Net income: NT$289.6m (up 296% from 2Q 2023). Profit margin: 14% (up from 4.6% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.9%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Auto Components industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 10% per year. Announcement • Aug 10
Hu Lane Associate Inc. Announces of Change of Financial Officer, Effective August 12, 2024 Hu Lane Associate Inc. announced change of financial officer. Name, title, and resume of the previous position holder: Kao Shih-Hsiang, spokesperson and financial officer. Name, title, and resume of the new position holder: Cheng,Ya-Ching, Deputy Project Manager of Group Finance Division. Education: Tamkang University, Department of Banking and Finance
Experience: Section Manager of General Administration Division-Governance Office; Assistance Manager of Audit Office; Assistance Manager of General Administration Division-Finance Department. Reason for the change is position adjustment. Effective date is August 12, 2024. Declared Dividend • Aug 10
Dividend reduced to NT$5.00 Dividend of NT$5.00 is 11% lower than last year. Ex-date: 4th September 2024 Payment date: 9th October 2024 Dividend yield will be 3.3%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by earnings (69% earnings payout ratio) but not covered by cash flows (392% cash payout ratio). The dividend has increased by an average of 5.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 60% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Aug 05
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.6% to NT$146. The fair value is estimated to be NT$187, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 8.5%. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 40% in the next 2 years. Announcement • Aug 01
Hu Lane Associate Inc. to Report Q2, 2024 Results on Aug 08, 2024 Hu Lane Associate Inc. announced that they will report Q2, 2024 results on Aug 08, 2024 Announcement • May 31
Hu Lane Associate Inc. Approves Cash Dividend for 2023 Hu Lane Associate Inc. approved cash dividend of TWD 4 per share for 2023, at its Annual General Shareholders' Meeting held on May 30, 2024. Reported Earnings • May 18
First quarter 2024 earnings: EPS exceeds analyst expectations First quarter 2024 results: EPS: NT$3.32 (up from NT$2.23 in 1Q 2023). Revenue: NT$1.89b (up 17% from 1Q 2023). Net income: NT$330.5m (up 49% from 1Q 2023). Profit margin: 18% (up from 14% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 30%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Auto Components industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 10
Hu Lane Associate Inc. Announces Establishment of Risk Management Committee Hu Lane Associate Inc. announced establishment of Risk Management Committee. Date of occurrence of the change is May 9, 2024. Name of the new position holder: Chang Hsueh-Chih, Lin Chan-Lieh, Tai Chia-Wei, Chang Ping-Chun, Chang Tzu-Chieh, Chang Shao-Chien, Chang Chung-Yi. Resume of the new position holder: Chang Hsueh-Chih: Independent Director of the Company, Lin Chan-Lieh: Independent Director of the Company, Tai Chia-Wei: Independent Director of the Company, Chang Ping-Chun: Director of the Company, Chang Tzu-Chieh:The company’s CEO is also the head of global R&D centers, Chang Shao-Chien: Executive Vice President of the Company's Global Marketing Business Group Department of company, Chang Chung-Yi: Assistant Manager of the Group Human Resources Department and Group Information Department of company. Reason for the change: new appointment. Effective date of the new member is May 9, 2024. Announcement • May 01
Hu Lane Associate Inc. to Report Q1, 2024 Results on May 09, 2024 Hu Lane Associate Inc. announced that they will report Q1, 2024 results on May 09, 2024 Announcement • Apr 14
Hu Lane Associate Inc. Proposes Dividend Distribution for the Year Ended December 31, 2023 Hu Lane Associate Inc. proposed dividend distribution for the year ended December 31, 2023. Appropriations of earnings in cash dividends to shareholders: TWD 4.0 per share. Cash dividends distributed from legal reserve and capital reserve to shareholders: TWD 1.0 per share. Total amount of cash dividends to shareholders: TWD 498,280,615. Date of the board of directors resolution is April 12, 2024. Reported Earnings • Mar 19
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: NT$9.24 (down from NT$10.03 in FY 2022). Revenue: NT$7.33b (up 12% from FY 2022). Net income: NT$921.2m (down 7.9% from FY 2022). Profit margin: 13% (down from 15% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 9.5% growth forecast for the Auto Components industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 12% per year. Price Target Changed • Mar 15
Price target increased by 7.2% to NT$192 Up from NT$179, the current price target is an average from 8 analysts. New target price is 17% above last closing price of NT$163. Stock is up 12% over the past year. The company is forecast to post earnings per share of NT$8.99 for next year compared to NT$10.03 last year. Buy Or Sell Opportunity • Mar 14
Now 23% undervalued Over the last 90 days, the stock has risen 5.8% to NT$165. The fair value is estimated to be NT$213, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 69% in the next 2 years. Announcement • Mar 13
Hu Lane Associate Inc., Annual General Meeting, May 30, 2024 Hu Lane Associate Inc., Annual General Meeting, May 30, 2024. Location: Room B1, No. 1, Lane 342, Fueder 1st Road, Xizhi District New Taipei City Taiwan Agenda: To consider and approve the Company's 2023 business report; to consider and approve Audit Committee review of the 2023 financial statements; to Report on the payment of remuneration to directors by the Company; to Report on the distribution of remuneration to employees and directors in 2023; and to consider other matters of business. Buy Or Sell Opportunity • Feb 23
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at NT$157. The fair value is estimated to be NT$199, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 25% in 2 years. Earnings are forecast to grow by 63% in the next 2 years. Buy Or Sell Opportunity • Feb 20
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at NT$157. The fair value is estimated to be NT$198, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 25% in 2 years. Earnings are forecast to grow by 63% in the next 2 years. Buying Opportunity • Jan 09
Now 21% undervalued Over the last 90 days, the stock is up 2.6%. The fair value is estimated to be NT$196, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 25% in 2 years. Earnings is forecast to grow by 62% in the next 2 years. New Risk • Nov 23
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 11% Last year net profit margin: 17% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (11% net profit margin). Upcoming Dividend • Aug 16
Upcoming dividend of NT$5.60 per share at 3.4% yield Eligible shareholders must have bought the stock before 23 August 2023. Payment date: 22 September 2023. Payout ratio is a comfortable 50% but the company is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of Taiwanese dividend payers (5.7%). In line with average of industry peers (3.3%). Major Estimate Revision • Aug 09
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$7.34b to NT$7.24b. EPS estimate also fell from NT$9.87 per share to NT$8.86 per share. Net income forecast to shrink 5.8% next year vs 10% growth forecast for Auto Components industry in Taiwan . Consensus price target broadly unchanged at NT$175. Share price fell 3.9% to NT$147 over the past week. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$174, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 16x in the Auto Components industry in Taiwan. Total returns to shareholders of 125% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$120 per share. Price Target Changed • Apr 28
Price target decreased by 7.3% to NT$167 Down from NT$180, the current price target is an average from 8 analysts. New target price is 21% above last closing price of NT$138. Stock is up 32% over the past year. The company is forecast to post earnings per share of NT$9.91 for next year compared to NT$10.03 last year. Price Target Changed • Apr 25
Price target decreased by 7.3% to NT$167 Down from NT$180, the current price target is an average from 8 analysts. New target price is 25% above last closing price of NT$133. Stock is up 25% over the past year. The company is forecast to post earnings per share of NT$9.91 for next year compared to NT$10.03 last year. Major Estimate Revision • Mar 31
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from NT$11.24 to NT$9.92 per share. Revenue forecast steady at NT$7.24b. Net income forecast to grow 1.4% next year vs 3.7% growth forecast for Auto Components industry in Taiwan. Consensus price target down from NT$180 to NT$170. Share price fell 3.7% to NT$143 over the past week. Reported Earnings • Mar 26
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: NT$10.03 (up from NT$7.91 in FY 2021). Revenue: NT$6.53b (up 32% from FY 2021). Net income: NT$999.9m (up 27% from FY 2021). Profit margin: 15% (in line with FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.9%. Revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Auto Components industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Nov 16
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from NT$6.22b to NT$6.45b. EPS estimate increased from NT$9.03 to NT$10.01 per share. Net income forecast to grow 51% next year vs 42% growth forecast for Auto Components industry in Taiwan. Consensus price target broadly unchanged at NT$193. Share price fell 7.0% to NT$146 over the past week. Major Estimate Revision • Nov 11
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from NT$6.22b to NT$6.45b. EPS estimate increased from NT$9.03 to NT$10.01 per share. Net income forecast to grow 51% next year vs 52% growth forecast for Auto Components industry in Taiwan. Consensus price target broadly unchanged at NT$193. Share price fell 8.0% to NT$143 over the past week. Price Target Changed • Sep 13
Price target increased to NT$180 Up from NT$167, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of NT$177. Stock is up 56% over the past year. The company is forecast to post earnings per share of NT$8.43 for next year compared to NT$7.91 last year. Upcoming Dividend • Aug 19
Upcoming dividend of NT$5.00 per share Eligible shareholders must have bought the stock before 26 August 2022. Payment date: 30 September 2022. Payout ratio is a comfortable 65% but the company is paying out more than the cash it is generating. Trailing yield: 3.4%. Lower than top quartile of Taiwanese dividend payers (6.5%). Higher than average of industry peers (2.7%). Price Target Changed • Jul 13
Price target increased to NT$162 Up from NT$149, the current price target is an average from 7 analysts. New target price is 5.5% above last closing price of NT$154. Stock is up 8.1% over the past year. The company is forecast to post earnings per share of NT$8.58 for next year compared to NT$7.91 last year. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improved over the past week After last week's 18% share price gain to NT$147, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 16x in the Auto Components industry in Taiwan. Total returns to shareholders of 119% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$259 per share. Buying Opportunity • Jun 17
Now 20% undervalued Over the last 90 days, the stock is up 8.9%. The fair value is estimated to be NT$161, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 28%. Revenue is forecast to grow by 28% in 2 years. Earnings is forecast to grow by 27% in the next 2 years. Price Target Changed • May 11
Price target decreased to NT$140 Down from NT$157, the current price target is an average from 6 analysts. New target price is 31% above last closing price of NT$107. Stock is up 2.9% over the past year. The company is forecast to post earnings per share of NT$7.88 for next year compared to NT$7.91 last year. Major Estimate Revision • May 10
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from NT$9.05 to NT$7.83 per share. Revenue forecast steady at NT$5.67b. Net income forecast to shrink 1.0% next year vs 30% growth forecast for Auto Components industry in Taiwan . Consensus price target down from NT$157 to NT$153. Share price was steady at NT$103 over the past week. Announcement • Mar 31
Hu Lane Associate Inc., Annual General Meeting, Jun 17, 2022 Hu Lane Associate Inc., Annual General Meeting, Jun 17, 2022. Reported Earnings • Nov 09
Third quarter 2021 earnings released: EPS NT$1.73 (vs NT$1.62 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: NT$1.15b (up 27% from 3Q 2020). Net income: NT$172.3m (up 6.6% from 3Q 2020). Profit margin: 15% (down from 18% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% 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 • Oct 21
Investor sentiment improved over the past week After last week's 16% share price gain to NT$123, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the Auto Components industry in Taiwan. Total returns to shareholders of 96% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$232 per share. Upcoming Dividend • Aug 18
Upcoming dividend of NT$4.00 per share Eligible shareholders must have bought the stock before 25 August 2021. Payment date: 17 September 2021. Trailing yield: 2.5%. Lower than top quartile of Taiwanese dividend payers (5.3%). In line with average of industry peers (2.5%). Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$1.62 (vs NT$0.40 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.17b (up 62% from 2Q 2020). Net income: NT$161.4m (up 302% from 2Q 2020). Profit margin: 14% (up from 5.6% 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 1% per year whereas the company’s share price has increased by 5% per year. Price Target Changed • Jul 08
Price target increased to NT$145 Up from NT$132, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of NT$144. Stock is up 78% over the past year. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improved over the past week After last week's 16% share price gain to NT$129, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 17x in the Auto Components industry in Taiwan. Total returns to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$159 per share. Reported Earnings • May 08
First quarter 2021 earnings released: EPS NT$2.25 (vs NT$0.57 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.16b (up 54% from 1Q 2020). Net income: NT$224.2m (up 293% from 1Q 2020). Profit margin: 19% (up from 7.6% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Price Target Changed • Apr 01
Price target increased to NT$127 Up from NT$114, the current price target is an average from 7 analysts. New target price is 7.0% above last closing price of NT$119. Stock is up 107% over the past year. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS NT$5.59 (vs NT$4.66 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$3.65b (down 3.6% from FY 2019). Net income: NT$557.5m (up 20% from FY 2019). Profit margin: 15% (up from 12% 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 29% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Price Target Changed • Jan 14
Price target raised to NT$105 Up from NT$93.88, the current price target is an average from 7 analysts. The new target price is 6.9% below the current share price of NT$113. As of last close, the stock is up 18% over the past year. Is New 90 Day High Low • Jan 04
New 90-day high: NT$120 The company is up 42% from its price of NT$84.60 on 07 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$90.80 per share. Valuation Update With 7 Day Price Move • Nov 28
Market bids up stock over the past week After last week's 21% share price gain to NT$120, the stock is trading at a trailing P/E ratio of 25.4x, up from the previous P/E ratio of 20.9x. This compares to an average P/E of 28x in the Auto Components industry in Taiwan. Total return to shareholders over the past three years is a loss of 6.9%. Valuation Update With 7 Day Price Move • Nov 15
Market bids up stock over the past week After last week's 19% share price gain to NT$97.50, the stock is trading at a trailing P/E ratio of 20.7x, up from the previous P/E ratio of 17.4x. This compares to an average P/E of 23x in the Auto Components industry in Taiwan. Total return to shareholders over the past three years is a loss of 26%. Major Estimate Revision • Nov 15
Analysts update estimates The 2020 consensus earning per share (EPS) estimate increased from NT$4.01 to NT$4.93. Revenue estimate for the same period was approximately flat at NT$3.51b. Net income is expected to grow by 26% next year compared to 52% growth forecast for the Auto Components industry in Taiwan. The consensus price target increased from NT$86.20 to NT$93.88. Share price is up 19% to NT$97.50 over the past week. Price Target Changed • Nov 12
Price target raised to NT$93.88 Up from NT$86.20, the current price target is an average from 7 analysts. The new target price is close to the current share price of NT$97.30. As of last close, the stock is up 31% over the past year. Is New 90 Day High Low • Nov 11
New 90-day high: NT$91.70 The company is up 25% from its price of NT$73.46 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 Auto Components industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$76.84 per share. Reported Earnings • Nov 10
Third quarter 2020 earnings released: EPS NT$1.60 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$906.3m (down 2.8% from 3Q 2019). Net income: NT$161.6m (up 73% from 3Q 2019). Profit margin: 18% (up from 10.0% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Nov 10
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 62%. Over the next year, revenue is forecast to grow 9.9%, compared to a 12% growth forecast for the Auto Components industry in Taiwan. Is New 90 Day High Low • Oct 07
New 90-day high: NT$84.60 The company is up 5.0% from its price of NT$80.88 on 09 July 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$38.76 per share. 
