Reported Earnings • May 19
First quarter 2026 earnings released: NT$1.15 loss per share (vs NT$0.13 loss in 1Q 2025) First quarter 2026 results: NT$1.15 loss per share (further deteriorated from NT$0.13 loss in 1Q 2025). Revenue: NT$1.16b (down 11% from 1Q 2025). Net loss: NT$93.2m (loss widened NT$82.3m from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 15
Full year 2025 earnings released: NT$2.24 loss per share (vs NT$1.14 loss in FY 2024) Full year 2025 results: NT$2.24 loss per share (further deteriorated from NT$1.14 loss in FY 2024). Revenue: NT$5.23b (up 2.8% from FY 2024). Net loss: NT$182.3m (loss widened 92% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings. Announcement • Feb 26
Hiroca Holdings Ltd., Annual General Meeting, May 22, 2026 Hiroca Holdings Ltd., Annual General Meeting, May 22, 2026, at 09:00 Taipei Standard Time. Location: 9 floor no,350, sung chiang rd., jhongshan district, taipei city Taiwan Reported Earnings • Nov 18
Third quarter 2025 earnings released: EPS: NT$0.14 (vs NT$0.35 loss in 3Q 2024) Third quarter 2025 results: EPS: NT$0.14 (up from NT$0.35 loss in 3Q 2024). Revenue: NT$1.36b (up 14% from 3Q 2024). Net income: NT$11.6m (up NT$40.4m from 3Q 2024). Profit margin: 0.9% (up from net loss in 3Q 2024). 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 52 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 23
Second quarter 2025 earnings released: NT$2.01 loss per share (vs NT$0.097 profit in 2Q 2024) Second quarter 2025 results: NT$2.01 loss per share (down from NT$0.097 profit in 2Q 2024). Revenue: NT$1.23b (down 7.6% from 2Q 2024). Net loss: NT$163.9m (down NT$172.0m from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Jul 02
Upcoming dividend of NT$0.78 per share Eligible shareholders must have bought the stock before 09 July 2025. Payment date: 25 July 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (4.8%). Declared Dividend • Jun 13
Dividend of NT$0.75 announced Shareholders will receive a dividend of NT$0.75. Ex-date: 9th July 2025 Payment date: 25th July 2025 Dividend yield will be 3.1%, which is about the same as the industry average. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Reported Earnings • May 15
First quarter 2025 earnings released: NT$0.13 loss per share (vs NT$0.10 loss in 1Q 2024) First quarter 2025 results: NT$0.13 loss per share (further deteriorated from NT$0.10 loss in 1Q 2024). Revenue: NT$1.30b (up 4.3% from 1Q 2024). Net loss: NT$10.9m (loss widened 28% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Announcement • May 06
Hiroca Holdings Ltd. to Report Q1, 2025 Results on May 14, 2025 Hiroca Holdings Ltd. announced that they will report Q1, 2025 results on May 14, 2025 Board Change • Apr 30
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Hsu-Yi Chen was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 18
Full year 2024 earnings released: NT$1.14 loss per share (vs NT$1.96 loss in FY 2023) Full year 2024 results: NT$1.14 loss per share (improved from NT$1.96 loss in FY 2023). Revenue: NT$5.09b (down 12% from FY 2023). Net loss: NT$95.0m (loss narrowed 42% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Announcement • Mar 05
Hiroca Holdings Ltd. to Report Fiscal Year 2024 Results on Mar 14, 2025 Hiroca Holdings Ltd. announced that they will report fiscal year 2024 results on Mar 14, 2025 Announcement • Feb 19
Hiroca Holdings Ltd., Annual General Meeting, May 23, 2025 Hiroca Holdings Ltd., Annual General Meeting, May 23, 2025, at 09:00 Taipei Standard Time. Location: 9 floor no,350, sung chiang rd., jhongshan district, taipei city Taiwan Reported Earnings • Nov 18
Third quarter 2024 earnings released: NT$0.35 loss per share (vs NT$0.21 profit in 3Q 2023) Third quarter 2024 results: NT$0.35 loss per share (down from NT$0.21 profit in 3Q 2023). Revenue: NT$1.18b (down 18% from 3Q 2023). Net loss: NT$28.8m (down 264% from profit in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: NT$0.10 (vs NT$1.13 loss in 2Q 2023) Second quarter 2024 results: EPS: NT$0.10 (up from NT$1.13 loss in 2Q 2023). Revenue: NT$1.33b (flat on 2Q 2023). Net income: NT$8.12m (up NT$102.8m from 2Q 2023). Profit margin: 0.6% (up from net loss in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Announcement • Aug 19
Hiroca Holdings Ltd. to Report Q2, 2024 Results on Aug 26, 2024 Hiroca Holdings Ltd. announced that they will report Q2, 2024 results on Aug 26, 2024 Upcoming Dividend • Jul 10
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 17 July 2024. Payment date: 02 August 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (4.2%). Lower than average of industry peers (3.3%). Declared Dividend • Jun 22
Dividend reduced to NT$0.50 Dividend of NT$0.50 is 75% lower than last year. Ex-date: 17th July 2024 Payment date: 2nd August 2024 Dividend yield will be 1.5%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (7% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Reported Earnings • May 19
First quarter 2024 earnings released: NT$0.30 loss per share (vs NT$0.57 loss in 1Q 2023) First quarter 2024 results: NT$0.30 loss per share (improved from NT$0.57 loss in 1Q 2023). Revenue: NT$1.16b (down 19% from 1Q 2023). Net loss: NT$25.1m (loss narrowed 48% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Announcement • Apr 28
Hiroca Holdings Ltd. to Report Q1, 2024 Results on May 13, 2024 Hiroca Holdings Ltd. announced that they will report Q1, 2024 results on May 13, 2024 Reported Earnings • Mar 21
Full year 2023 earnings released: NT$1.96 loss per share (vs NT$1.63 profit in FY 2022) Full year 2023 results: NT$1.96 loss per share (down from NT$1.63 profit in FY 2022). Revenue: NT$5.76b (down 22% from FY 2022). Net loss: NT$164.3m (down 221% from profit in FY 2022). 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. Announcement • Mar 15
Hiroca Holdings Ltd., Annual General Meeting, May 31, 2024 Hiroca Holdings Ltd., Annual General Meeting, May 31, 2024. Location: 9F., No. 350, Songjiang Rd., Zhongshan Dist Conference Center of IEA Taipei Taiwan Agenda: To consider 2023 Business Report; to consider 2023 Audit committee's audit report; to consider 2023 Directors' Remuneration Report; to consider Execution status of the resolution for issuance of the second unsecured convertible corporate bonds in the Republic of China. New Risk • Mar 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.16b (US$100.0m) 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 32% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (NT$3.16b market cap, or US$100.0m). Reported Earnings • Aug 30
Second quarter 2023 earnings released: NT$1.13 loss per share (vs NT$0.30 loss in 2Q 2022) Second quarter 2023 results: NT$1.13 loss per share (further deteriorated from NT$0.30 loss in 2Q 2022). Revenue: NT$1.32b (down 19% from 2Q 2022). Net loss: NT$94.7m (loss widened 274% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. New Risk • Aug 11
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.05b (US$95.8m) 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 Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 95% Earnings have declined by 25% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$3.05b market cap, or US$95.8m). Upcoming Dividend • Jul 10
Upcoming dividend of NT$2.00 per share at 4.6% yield Eligible shareholders must have bought the stock before 17 July 2023. Payment date: 28 July 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 4.6%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.1%). Reported Earnings • Mar 29
Full year 2022 earnings released: EPS: NT$1.63 (vs NT$4.04 in FY 2021) Full year 2022 results: EPS: NT$1.63 (down from NT$4.04 in FY 2021). Revenue: NT$7.34b (flat on FY 2021). Net income: NT$136.3m (down 60% from FY 2021). Profit margin: 1.9% (down from 4.6% in FY 2021). 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 1% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Director Nairong Chen was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.63 (vs NT$1.01 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.63 (down from NT$1.01 in 3Q 2021). Revenue: NT$1.96b (up 13% from 3Q 2021). Net income: NT$52.4m (down 38% from 3Q 2021). Profit margin: 2.7% (down from 4.9% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 02
Second quarter 2022 earnings released: NT$0.30 loss per share (vs NT$0.29 profit in 2Q 2021) Second quarter 2022 results: NT$0.30 loss per share (down from NT$0.29 profit in 2Q 2021). Revenue: NT$1.63b (up 3.3% from 2Q 2021). Net loss: NT$25.3m (down 205% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 07
Upcoming dividend of NT$2.50 per share Eligible shareholders must have bought the stock before 14 July 2022. Payment date: 29 July 2022. Payout ratio is a comfortable 58% but the company is not cash flow positive. Trailing yield: 4.3%. Lower than top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (3.0%). Reported Earnings • May 11
First quarter 2022 earnings released: EPS: NT$1.62 (vs NT$1.38 in 1Q 2021) First quarter 2022 results: EPS: NT$1.62 (up from NT$1.38 in 1Q 2021). Revenue: NT$2.09b (up 18% from 1Q 2021). Net income: NT$135.9m (up 18% from 1Q 2021). Profit margin: 6.5% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 9% per year, which means it is performing significantly worse than earnings. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Director Nairong Chen was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 31
Full year 2021 earnings released: EPS: NT$4.04 (vs NT$3.51 in FY 2020) Full year 2021 results: EPS: NT$4.04 (up from NT$3.51 in FY 2020). Revenue: NT$7.31b (up 19% from FY 2020). Net income: NT$339.1m (up 15% from FY 2020). Profit margin: 4.6% (down from 4.8% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 10% per year. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS NT$1.01 (vs NT$1.12 in 3Q 2020) The company reported a poor third quarter result with weaker earnings and profit margins, although revenues were flat. Third quarter 2021 results: Revenue: NT$1.73b (flat on 3Q 2020). Net income: NT$84.5m (down 10.0% from 3Q 2020). Profit margin: 4.9% (down from 5.4% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS NT$0.29 (vs NT$0.30 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$1.57b (up 21% from 2Q 2020). Net income: NT$24.1m (down 5.9% from 2Q 2020). Profit margin: 1.5% (down from 2.0% 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 28% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jul 27
Upcoming dividend of NT$3.50 per share Eligible shareholders must have bought the stock before 03 August 2021. Payment date: 23 August 2021. Trailing yield: 5.2%. Within top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (2.3%). Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorated over the past week After last week's 19% share price decline to NT$55.00, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 21x in the Auto Components industry in Taiwan. Total loss to shareholders of 38% over the past three years. Reported Earnings • May 11
First quarter 2021 earnings released: EPS NT$1.38 (vs NT$0.15 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.77b (up 67% from 1Q 2020). Net income: NT$115.2m (up NT$128.3m from 1Q 2020). Profit margin: 6.5% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. 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 15% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 28
Full year 2020 earnings released: EPS NT$3.51 (vs NT$4.78 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$6.17b (down 17% from FY 2019). Net income: NT$294.5m (down 27% from FY 2019). Profit margin: 4.8% (down from 5.4% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Announcement • Mar 10
Hiroca Holdings Ltd., Annual General Meeting, Jun 09, 2021 Hiroca Holdings Ltd., Annual General Meeting, Jun 09, 2021. Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improved over the past week After last week's 15% share price gain to NT$70.40, the stock is trading at a trailing P/E ratio of 24.9x, up from the previous P/E ratio of 21.6x. This compares to an average P/E of 29x in the Auto Components industry in Taiwan. Total return to shareholders over the past three years is a loss of 27%. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 15% share price gain to NT$67.20, the stock is trading at a trailing P/E ratio of 23.7x, up from the previous P/E ratio of 20.6x. This compares to an average P/E of 29x in the Auto Components industry in Taiwan. Total return to shareholders over the past three years is a loss of 32%. Is New 90 Day High Low • Dec 31
New 90-day high: NT$61.10 The company is up 10.0% from its price of NT$55.30 on 30 September 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 16% over the same period. Reported Earnings • Nov 13
Third quarter 2020 earnings released: EPS NT$1.12 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$1.74b (down 6.3% from 3Q 2019). Net income: NT$93.8m (up 14% from 3Q 2019). Profit margin: 5.4% (up from 4.4% 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 41% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Nov 13
Revenue misses expectations Revenue missed analyst estimates by 6.3%. Over the next year, revenue is forecast to grow 17%, compared to a 14% growth forecast for the Auto Components industry in Taiwan. Is New 90 Day High Low • Nov 02
New 90-day low: NT$52.60 The company is down 5.0% from its price of NT$55.50 on 04 August 2020. The Taiwanese market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 5.0% over the same period.