Reported Earnings • May 13
First quarter 2026 earnings released: EPS: NT$0.039 (vs NT$0.006 in 1Q 2025) First quarter 2026 results: EPS: NT$0.039 (up from NT$0.006 in 1Q 2025). Revenue: NT$754.1m (up 35% from 1Q 2025). Net income: NT$3.15m (up NT$2.66m from 1Q 2025). Profit margin: 0.4% (up from 0.1% in 1Q 2025). 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 82 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: NT$0.37 (vs NT$0.47 loss in FY 2024) Full year 2025 results: EPS: NT$0.37 (up from NT$0.47 loss in FY 2024). Revenue: NT$2.65b (up 23% from FY 2024). Net income: NT$29.9m (up NT$63.7m from FY 2024). Profit margin: 1.1% (up from net loss in FY 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 111 percentage points per year, which is a significant difference in performance. Announcement • Mar 11
Cryomax Cooling System Corp., Annual General Meeting, Jun 04, 2026 Cryomax Cooling System Corp., Annual General Meeting, Jun 04, 2026. Location: 2 floor no,3, kung ou 6th rd., hou liao ts`un, fangyuan township, changhua county Taiwan New Risk • Mar 04
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.11b (US$98.3m) 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 Interest payments are not well covered by earnings (1.2x net interest cover). Earnings have declined by 48% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Market cap is less than US$100m (NT$3.11b market cap, or US$98.3m). Reported Earnings • Nov 18
Third quarter 2025 earnings released: EPS: NT$0.18 (vs NT$0.086 loss in 3Q 2024) Third quarter 2025 results: EPS: NT$0.18 (up from NT$0.086 loss in 3Q 2024). Revenue: NT$675.3m (up 23% from 3Q 2024). Net income: NT$14.3m (up NT$20.5m from 3Q 2024). Profit margin: 2.1% (up from net loss in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 127 percentage points per year, which is a significant difference in performance. New Risk • Oct 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Share price has been highly volatile over the past 3 months (8.4% average weekly change). Earnings have declined by 43% per year over the past 5 years. New Risk • Sep 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.6% 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 Risks Interest payments are not well covered by earnings (1.0x net interest cover). Earnings have declined by 43% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Market cap is less than US$100m (NT$2.91b market cap, or US$96.7m). Reported Earnings • Aug 13
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: NT$640.0m (up 24% from 2Q 2024). Net income: NT$4.74m (up NT$32.3m from 2Q 2024). Profit margin: 0.7% (up from net loss in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 115 percentage points per year, which is a significant difference in performance. Board Change • Jul 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Kuo-Hua Chang was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • May 30
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 06 June 2025. Payment date: 11 July 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (4.1%). Reported Earnings • May 15
First quarter 2025 earnings released: EPS: NT$0.01 (vs NT$0.038 in 1Q 2024) First quarter 2025 results: EPS: NT$0.01 (down from NT$0.038 in 1Q 2024). Revenue: NT$558.8m (up 13% from 1Q 2024). Net income: NT$495.0k (down 82% from 1Q 2024). Profit margin: 0.1% (down from 0.6% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. Announcement • May 02
Cryomax Cooling System Corp. to Report Q1, 2025 Results on May 12, 2025 Cryomax Cooling System Corp. announced that they will report Q1, 2025 results on May 12, 2025 Reported Earnings • Mar 20
Full year 2024 earnings released: NT$0.47 loss per share (vs NT$0.58 profit in FY 2023) Full year 2024 results: NT$0.47 loss per share (down from NT$0.58 profit in FY 2023). Revenue: NT$2.15b (up 1.5% from FY 2023). Net loss: NT$33.8m (down 180% from profit in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Declared Dividend • Mar 19
Dividend of NT$0.50 announced Shareholders will receive a dividend of NT$0.50. Ex-date: 6th June 2025 Payment date: 11th July 2025 Dividend yield will be 1.4%, 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 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. Announcement • Mar 16
Cryomax Cooling System Corp. Announces Cash Dividend, Payable on July 11, 2025 Cryomax Cooling System Corp. announced common stock Cash dividend distribution of TWD 40,027,836 (TWD 0.50 per share). Ex-rights (ex-dividend) trading date: June 6, 2025. Ex-rights (ex-dividend) record date: June 14, 2025. Payment date of common stock cash dividend distribution: July 11, 2025. Date of the resolution by the board of directors or shareholders meeting or decision by the Company: March 14, 2025. Announcement • Jan 15
Cryomax Cooling System Corp., Annual General Meeting, Jun 04, 2025 Cryomax Cooling System Corp., Annual General Meeting, Jun 04, 2025. Location: 2 floor no,3, kung ou 6th rd., hou liao ts`un, fangyuan township, changhua county Taiwan Reported Earnings • Nov 18
Third quarter 2024 earnings released: NT$0.09 loss per share (vs NT$0.21 profit in 3Q 2023) Third quarter 2024 results: NT$0.09 loss per share (down from NT$0.21 profit in 3Q 2023). Revenue: NT$549.6m (up 10% from 3Q 2023). Net loss: NT$6.21m (down 140% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Announcement • Nov 02
Cryomax Cooling System Corp. to Report Q3, 2024 Results on Nov 11, 2024 Cryomax Cooling System Corp. announced that they will report Q3, 2024 results on Nov 11, 2024 Reported Earnings • Aug 13
Second quarter 2024 earnings released: NT$0.40 loss per share (vs NT$0.30 profit in 2Q 2023) Second quarter 2024 results: NT$0.40 loss per share (down from NT$0.30 profit in 2Q 2023). Revenue: NT$517.2m (down 10% from 2Q 2023). Net loss: NT$27.5m (down 235% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. New Risk • Aug 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.11b (US$95.4m) 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 Interest payments are not well covered by earnings (1.4x net interest cover). Share price has been highly volatile over the past 3 months (9.9% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (1.9% net profit margin). Market cap is less than US$100m (NT$3.11b market cap, or US$95.4m). Announcement • Aug 02
Cryomax Cooling System Corp. to Report Q2, 2024 Results on Aug 09, 2024 Cryomax Cooling System Corp. announced that they will report Q2, 2024 results on Aug 09, 2024 Buy Or Sell Opportunity • Jul 10
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 40% to NT$57.00. The fair value is estimated to be NT$45.66, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 33%. Upcoming Dividend • May 24
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 31 May 2024. Payment date: 28 June 2024. Payout ratio is on the higher end at 89% but the company is not cash flow positive. Trailing yield: 0.7%. Lower than top quartile of Taiwanese dividend payers (4.4%). Lower than average of industry peers (3.1%). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.04 (vs NT$0.088 in 1Q 2023) First quarter 2024 results: EPS: NT$0.04 (down from NT$0.088 in 1Q 2023). Revenue: NT$495.9m (down 8.5% from 1Q 2023). Net income: NT$2.77m (down 54% from 1Q 2023). Profit margin: 0.6% (down from 1.1% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 46% per year, which means it is well ahead of earnings. Announcement • May 03
Cryomax Cooling System Corp. to Report Q1, 2024 Results on May 10, 2024 Cryomax Cooling System Corp. announced that they will report Q1, 2024 results on May 10, 2024 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to NT$43.60, the stock trades at a trailing P/E ratio of 70.9x. Average trailing P/E is 23x in the Auto Components industry in Taiwan. Total returns to shareholders of 50% over the past three years. New Risk • Apr 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.6% 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 Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Profit margins are more than 30% lower than last year (2.0% net profit margin). Market cap is less than US$100m (NT$2.71b market cap, or US$84.6m). Buy Or Sell Opportunity • Apr 02
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 59% to NT$36.05. The fair value is estimated to be NT$28.36, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.5% over the last 3 years. Earnings per share has declined by 29%. Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$29.50, the stock trades at a trailing P/E ratio of 48.1x. Average trailing P/E is 21x in the Auto Components industry in Taiwan. Total returns to shareholders of 25% over the past three years. New Risk • Mar 17
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.6x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 117% Paying a dividend despite having no free cash flows. Minor Risks Profit margins are more than 30% lower than last year (2.0% net profit margin). Market cap is less than US$100m (NT$1.71b market cap, or US$54.1m). Reported Earnings • Mar 17
Full year 2023 earnings released: EPS: NT$0.61 (vs NT$2.01 in FY 2022) Full year 2023 results: EPS: NT$0.61 (down from NT$2.01 in FY 2022). Revenue: NT$2.12b (down 16% from FY 2022). Net income: NT$42.1m (down 69% from FY 2022). Profit margin: 2.0% (down from 5.4% in FY 2022). The decrease in margin was driven by lower revenue. 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 1% per year, which means it has not declined as severely as earnings. Declared Dividend • Mar 15
Dividend reduced to NT$0.50 Dividend of NT$0.50 is 50% lower than last year. Ex-date: 31st May 2024 Payment date: 28th June 2024 Dividend yield will be 2.0%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is not covered by earnings (117% earnings payout ratio). However, it is covered by cash flows (72% cash payout ratio). The dividend has increased by an average of 9.3% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 29% to bring the payout ratio under control, which is more than the 21% EPS growth achieved over the last 5 years. Announcement • Mar 14
Cryomax Cooling System Corp. Announces Cash Dividend, Payable on June 28, 2024 The board of directors of Cryomax Cooling System Corp. announced a cash dividend of TWD 34,312,225 (TWD 0.50036457 per share). Ex-rights (ex-dividend) trading date is May 31, 2024. Ex-rights (ex-dividend) record date is June 8, 2024. The payment date of the common stock cash dividend distribution on June 28, 2024. Date of the resolution by the board of directors or shareholders meeting or decision by the Company is March 13, 2024. Announcement • Jan 28
Cryomax Cooling System Corp., Annual General Meeting, May 30, 2024 Cryomax Cooling System Corp., Annual General Meeting, May 30, 2024. Location: Conference Room, 2F, No. 3, Gongqu 6th Road Houliao Village, Fangyuan Township Changhua County Taiwan Agenda: To consider 2023 annual business report; to consider audit report of the Audit Committee for 2023; to consider report on the distribution of surplus earnings for 2023; to consider report on the distribution of employees and directors remuneration of 2023 and to consider other matters. New Risk • Nov 24
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: 2.7% Last year net profit margin: 5.4% 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 High level of debt (45% net debt to equity). Dividend is not well covered by earnings (117% payout ratio). Profit margins are more than 30% lower than last year (2.7% net profit margin). Market cap is less than US$100m (NT$1.55b market cap, or US$49.0m). New Risk • Aug 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (50% net debt to equity). Dividend is not well covered by cash flows (162% cash payout ratio). Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (NT$1.72b market cap, or US$53.9m). New Risk • Aug 12
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 50% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (50% net debt to equity). Dividend is not well covered by cash flows (162% cash payout ratio). Market cap is less than US$100m (NT$1.60b market cap, or US$50.1m). Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: NT$0.30 (vs NT$0.68 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.30 (down from NT$0.68 in 2Q 2022). Revenue: NT$575.7m (down 18% from 2Q 2022). Net income: NT$20.4m (down 56% from 2Q 2022). Profit margin: 3.5% (down from 6.6% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$26.15, the stock trades at a trailing P/E ratio of 15.8x. Average trailing P/E is 17x in the Auto Components industry in Taiwan. Total returns to shareholders of 87% over the past three years. Upcoming Dividend • May 26
Upcoming dividend of NT$1.00 per share at 4.5% yield Eligible shareholders must have bought the stock before 02 June 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (5.7%). Higher than average of industry peers (3.3%). Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.64 (vs NT$0.39 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.64 (up from NT$0.39 in 3Q 2021). Revenue: NT$659.7m (up 7.3% from 3Q 2021). Net income: NT$44.2m (up 65% from 3Q 2021). Profit margin: 6.7% (up from 4.4% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.64 (vs NT$0.39 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.64 (up from NT$0.39 in 3Q 2021). Revenue: NT$659.7m (up 7.3% from 3Q 2021). Net income: NT$44.2m (up 65% from 3Q 2021). Profit margin: 6.7% (up from 4.4% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.68 (vs NT$0.52 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.68 (up from NT$0.52 in 2Q 2021). Revenue: NT$702.6m (up 12% from 2Q 2021). Net income: NT$46.7m (up 31% from 2Q 2021). Profit margin: 6.6% (up from 5.7% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 29
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 06 July 2022. Payment date: 29 July 2022. Payout ratio is a comfortable 63% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (6.3%). Higher than average of industry peers (2.8%). Valuation Update With 7 Day Price Move • May 23
Investor sentiment improved over the past week After last week's 15% share price gain to NT$26.10, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 19x in the Auto Components industry in Taiwan. Total returns to shareholders of 63% over the past three years. Reported Earnings • May 13
First quarter 2022 earnings released: EPS: NT$0.44 (vs NT$0.35 in 1Q 2021) First quarter 2022 results: EPS: NT$0.44 (up from NT$0.35 in 1Q 2021). Revenue: NT$602.5m (up 13% from 1Q 2021). Net income: NT$30.3m (up 26% from 1Q 2021). Profit margin: 5.0% (up from 4.5% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
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. 5 non-independent directors. Director Yasuno Fuhai was the last director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 30
Full year 2021 earnings released: EPS: NT$1.49 (vs NT$2.52 in FY 2020) Full year 2021 results: EPS: NT$1.49 (down from NT$2.52 in FY 2020). Revenue: NT$2.35b (up 36% from FY 2020). Net income: NT$102.5m (down 41% from FY 2020). Profit margin: 4.4% (down from 10% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Mar 04
Cryomax Cooling System Corp., Annual General Meeting, May 27, 2022 Cryomax Cooling System Corp., Annual General Meeting, May 27, 2022. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS NT$0.39 (vs NT$0.54 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$614.6m (up 20% from 3Q 2020). Net income: NT$26.9m (down 28% from 3Q 2020). Profit margin: 4.4% (down from 7.3% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 26
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 02 September 2021. Payment date: 07 October 2021. Trailing yield: 5.4%. Within top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (2.5%). Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS NT$0.54 (vs NT$1.46 in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$626.9m (up 68% from 2Q 2020). Net income: NT$35.6m (down 63% from 2Q 2020). Profit margin: 5.7% (down from 26% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 16
First quarter 2021 earnings released: EPS NT$0.37 (vs NT$0.093 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$534.6m (up 51% from 1Q 2020). Net income: NT$24.0m (up 288% from 1Q 2020). Profit margin: 4.5% (up from 1.7% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorated over the past week After last week's 21% share price decline to NT$26.40, the stock trades at a trailing P/E ratio of 10x. Average forward P/E is 14x in the Auto Components industry in Taiwan. Total returns to shareholders of 43% over the past three years. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improved over the past week After last week's 18% share price gain to NT$35.10, the stock trades at a trailing P/E ratio of 13.3x. Average forward P/E is 17x in the Auto Components industry in Taiwan. Total returns to shareholders of 60% over the past three years. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS NT$2.64 (vs NT$0.048 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.73b (up 14% from FY 2019). Net income: NT$173.7m (up NT$170.4m from FY 2019). Profit margin: 10% (up from 0.2% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Mar 12
New 90-day high: NT$27.00 The company is up 4.0% from its price of NT$26.05 on 11 December 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Auto Components industry, which is also up 4.0% over the same period. Announcement • Mar 04
Cryomax Cooling System Corp., Annual General Meeting, May 28, 2021 Cryomax Cooling System Corp., Annual General Meeting, May 28, 2021. Is New 90 Day High Low • Jan 11
New 90-day low: NT$24.55 The company is down 10.0% from its price of NT$27.15 on 13 October 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 18% over the same period. Is New 90 Day High Low • Dec 04
New 90-day high: NT$27.90 The company is up 5.0% from its price of NT$26.65 on 04 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 11% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.56 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$512.4m (up 28% from 3Q 2019). Net income: NT$37.2m (up NT$40.5m from 3Q 2019). Profit margin: 7.3% (up from net loss in 3Q 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.