New Risk • May 17
New major risk - Revenue and earnings growth Earnings have declined by 2.4% 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. This is currently the only risk that has been identified for the company. New Risk • Apr 17
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. This is currently the only risk that has been identified for the company. Reported Earnings • Apr 02
Full year 2025 earnings released: NT$6.81 loss per share (vs NT$7.15 profit in FY 2024) Full year 2025 results: NT$6.81 loss per share (down from NT$7.15 profit in FY 2024). Revenue: NT$9.32b (up 423% from FY 2024). Net loss: NT$379.8m (down 199% from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 16
Patec Precision Industry Co., Ltd., Annual General Meeting, Jun 29, 2026 Patec Precision Industry Co., Ltd., Annual General Meeting, Jun 29, 2026. Location: 3 floor no,8, tung hsing rd., taipei city Taiwan Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$115, the stock trades at a trailing P/E ratio of 21.7x. Average forward P/E is 12x in the Auto Components industry in Taiwan. Total returns to shareholders of 405% over the past three years. New Risk • Dec 09
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 6.4% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (30% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.4% average weekly change). Upcoming Dividend • Dec 03
Upcoming dividend of NT$0.31 per share Eligible shareholders must have bought the stock before 10 December 2025. Payment date: 08 January 2026. Payout ratio is a comfortable 6.3% but the company is not cash flow positive. Trailing yield: 0.3%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (5.1%). Reported Earnings • Nov 18
Third quarter 2025 earnings released: NT$3.39 loss per share (vs NT$1.07 loss in 3Q 2024) Third quarter 2025 results: NT$3.39 loss per share (further deteriorated from NT$1.07 loss in 3Q 2024). Revenue: NT$2.41b (up 473% from 3Q 2024). Net loss: NT$181.6m (loss widened 225% from 3Q 2024). Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 5.1% growth forecast for the Auto Components industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has increased by 66% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$92.40, the stock trades at a trailing P/E ratio of 11.8x. Average forward P/E is 12x in the Auto Components industry in Taiwan. Total returns to shareholders of 363% over the past three years. Reported Earnings • Sep 03
Second quarter 2025 earnings released: NT$0.28 loss per share (vs NT$0.19 loss in 2Q 2024) Second quarter 2025 results: NT$0.28 loss per share (further deteriorated from NT$0.19 loss in 2Q 2024). Revenue: NT$2.28b (up 443% from 2Q 2024). Net loss: NT$15.0m (loss widened 56% from 2Q 2024). Revenue is forecast to grow 42% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Auto Components industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has increased by 70% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jun 02
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (25% accrual ratio). Reported Earnings • May 16
First quarter 2025 earnings released: EPS: NT$1.00 (vs NT$0.26 in 1Q 2024) First quarter 2025 results: EPS: NT$1.00 (up from NT$0.26 in 1Q 2024). Revenue: NT$2.30b (up 473% from 1Q 2024). Net income: NT$53.5m (up 301% from 1Q 2024). Profit margin: 2.3% (down from 3.3% in 1Q 2024). Revenue is forecast to grow 52% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Auto Components industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 54% per year whereas the company’s share price has increased by 56% per year. Announcement • May 14
Patec Precision Industry Co., Ltd. has filed a Follow-on Equity Offering. Patec Precision Industry Co., Ltd. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,500,000
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 4,500,000
Transaction Features: Reserved Share Offering; Rights Offering Announcement • May 06
Patec Precision Industry Co., Ltd. to Report Q1, 2025 Results on May 13, 2025 Patec Precision Industry Co., Ltd. announced that they will report Q1, 2025 results on May 13, 2025 New Risk • Apr 15
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 1.0% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (1.0% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$80.10, the stock trades at a trailing P/E ratio of 11.2x. Average forward P/E is 13x in the Auto Components industry in Taiwan. Total returns to shareholders of 267% over the past three years. Announcement • Apr 02
Patec Precision Industry Co., Ltd., Annual General Meeting, Jun 27, 2025 Patec Precision Industry Co., Ltd., Annual General Meeting, Jun 27, 2025. Location: 11 floor no,97, tun hua s. rd., da-an district, taipei city Taiwan Reported Earnings • Apr 02
Full year 2024 earnings released: EPS: NT$7.38 (vs NT$2.93 in FY 2023) Full year 2024 results: EPS: NT$7.38 (up from NT$2.93 in FY 2023). Revenue: NT$1.78b (down 1.9% from FY 2023). Net income: NT$383.2m (up 175% from FY 2023). Profit margin: 22% (up from 7.7% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 63% p.a. on average during the next 2 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 37% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Mar 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Profit margins are more than 30% lower than last year (0.5% net profit margin). Announcement • Mar 31
Patec Precision Industry Co., Ltd. Announces Chief Operating Officer Changes, Effective April 1, 2025 The Board of Directors of Patec Precision Industry Co., Ltd. approved the appointment of COO. Name, title, and resume of the previous position holder: Ong Boon Hock/Patec's COO. Name, title, and resume of the new position holder: Tan Choon Hoong/Broadway Industrial Group Limited CEO. Reason for the change: Position adjustment. Effective date: April 1, 2025. Announcement • Mar 22
Patec Precision Industry Co., Ltd. to Report Q4, 2024 Results on Mar 30, 2025 Patec Precision Industry Co., Ltd. announced that they will report Q4, 2024 results at 9:00 AM, Taipei Standard Time on Mar 30, 2025 Board Change • Feb 25
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 Kate Chen was the last independent 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. Announcement • Dec 27
Patec Precision Industry Co., Ltd. Announces Resignation of Yang Hui Chen as Director Patec Precision Industry Co., Ltd. announced the resignation of Yang Hui Chen as Director of the Company due to personal career planning. Reported Earnings • Nov 15
Third quarter 2024 earnings released: NT$1.29 loss per share (vs NT$0.71 profit in 3Q 2023) Third quarter 2024 results: NT$1.29 loss per share (down from NT$0.71 profit in 3Q 2023). Revenue: NT$420.7m (down 13% from 3Q 2023). Net loss: NT$66.6m (down 302% from profit in 3Q 2023). Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 6.7% growth forecast for the Auto Components industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 65% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 06
Patec Precision Industry Co., Ltd. to Report Q3, 2024 Results on Nov 13, 2024 Patec Precision Industry Co., Ltd. announced that they will report Q3, 2024 results on Nov 13, 2024 Upcoming Dividend • Sep 18
Upcoming dividend of NT$0.49 per share Eligible shareholders must have bought the stock before 25 September 2024. Payment date: 23 October 2024. Payout ratio is a comfortable 25% but the company is not cash flow positive. Trailing yield: 0.4%. Lower than top quartile of Taiwanese dividend payers (4.3%). Lower than average of industry peers (3.3%). Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$117, the stock trades at a trailing P/E ratio of 60.8x. Average trailing P/E is 18x in the Auto Components industry in Taiwan. Total returns to shareholders of 420% over the past three years. Reported Earnings • Aug 30
Second quarter 2024 earnings released: NT$0.19 loss per share (vs NT$0.31 profit in 2Q 2023) Second quarter 2024 results: NT$0.19 loss per share (down from NT$0.31 profit in 2Q 2023). Revenue: NT$420.3m (up 7.2% from 2Q 2023). Net loss: NT$9.56m (down 168% from profit in 2Q 2023). 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 55% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 20
Patec Precision Industry Co., Ltd. to Report Q2, 2024 Results on Aug 27, 2024 Patec Precision Industry Co., Ltd. announced that they will report Q2, 2024 results on Aug 27, 2024 Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$109, the stock trades at a trailing P/E ratio of 45.5x. Average trailing P/E is 19x in the Auto Components industry in Taiwan. Total returns to shareholders of 395% over the past three years. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$97.70, the stock trades at a trailing P/E ratio of 40.8x. Average trailing P/E is 20x in the Auto Components industry in Taiwan. Total returns to shareholders of 375% over the past three years. Board Change • Jun 28
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Kate Chen was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Valuation Update With 7 Day Price Move • May 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$78.80, the stock trades at a trailing P/E ratio of 32.9x. Average trailing P/E is 20x in the Auto Components industry in Taiwan. Total returns to shareholders of 282% over the past three years. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.27 (vs NT$0.70 in 1Q 2023) First quarter 2024 results: EPS: NT$0.27 (down from NT$0.70 in 1Q 2023). Revenue: NT$401.5m (down 5.4% from 1Q 2023). Net income: NT$13.4m (down 58% from 1Q 2023). Profit margin: 3.3% (down from 7.5% in 1Q 2023). The decrease in margin was driven by lower revenue. 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 40% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 05
Patec Precision Industry Co., Ltd. to Report Q1, 2024 Results on May 13, 2024 Patec Precision Industry Co., Ltd. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 13, 2024 Announcement • Mar 29
Patec Precision Industry Co., Ltd., Annual General Meeting, Jun 25, 2024 Patec Precision Industry Co., Ltd., Annual General Meeting, Jun 25, 2024. Reported Earnings • Mar 21
Full year 2023 earnings released: EPS: NT$2.99 (vs NT$1.64 in FY 2022) Full year 2023 results: EPS: NT$2.99 (up from NT$1.64 in FY 2022). Revenue: NT$1.82b (up 28% from FY 2022). Net income: NT$139.2m (up 86% from FY 2022). Profit margin: 7.7% (up from 5.3% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 64% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Dec 05
Upcoming dividend of NT$0.092 per share at 0.4% yield Eligible shareholders must have bought the stock before 12 December 2023. Payment date: 10 January 2024. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (3.0%). New Risk • Sep 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 11% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Shareholders have been diluted in the past year (6.6% increase in shares outstanding). Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: NT$0.31 (vs NT$0.49 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.31 (down from NT$0.49 in 2Q 2022). Revenue: NT$392.2m (up 19% from 2Q 2022). Net income: NT$14.1m (down 38% from 2Q 2022). Profit margin: 3.6% (down from 6.8% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has increased by 60% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jul 06
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 7.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.8% average weekly change). Earnings have declined by 16% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$3.08b market cap, or US$98.3m). Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$65.80, the stock trades at a trailing P/E ratio of 30.1x. Average trailing P/E is 17x in the Auto Components industry in Taiwan. Total returns to shareholders of 357% over the past three years. Board Change • Jun 29
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Kate Chen was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Jun 19
Patec Precision Industry Co., Ltd. Announces the Resignation of Sean Hsu as Financial Officer Patec Precision Industry Co., Ltd. announced the resignation of Sean Hsu as Financial Officer, effective June 17, 2023. Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$58.10, the stock trades at a trailing P/E ratio of 26.6x. Average trailing P/E is 17x in the Auto Components industry in Taiwan. Total returns to shareholders of 351% over the past three years. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$48.00, the stock trades at a trailing P/E ratio of 21.9x. Average trailing P/E is 17x in the Auto Components industry in Taiwan. Total returns to shareholders of 270% over the past three years. Announcement • May 06
Patec Precision Industry Co., Ltd. Announcement of Resignation of Director Patec Precision Industry Co., Ltd. announced the resignation of Director/Jack Liu and Director/Sean Hsu. The company received the resignation letter from directors Jack Liu and Sean Hsu on May 4, 2023, and the effective date of director's resignation is on June 14, 2023. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$45.70, the stock trades at a trailing P/E ratio of 27.9x. Average trailing P/E is 19x in the Auto Components industry in Taiwan. Total returns to shareholders of 263% over the past three years. Reported Earnings • Mar 31
Full year 2022 earnings released: EPS: NT$1.64 (vs NT$1.47 in FY 2021) Full year 2022 results: EPS: NT$1.64 (up from NT$1.47 in FY 2021). Revenue: NT$1.42b (up 3.8% from FY 2021). Net income: NT$74.9m (up 11% from FY 2021). Profit margin: 5.3% (up from 4.9% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$36.05, the stock trades at a trailing P/E ratio of 28.4x. Average trailing P/E is 15x in the Auto Components industry in Taiwan. Total returns to shareholders of 128% over the past three years. Valuation Update With 7 Day Price Move • Dec 08
Investor sentiment improved over the past week After last week's 21% share price gain to NT$24.40, the stock trades at a trailing P/E ratio of 19.2x. Average trailing P/E is 14x in the Auto Components industry in Taiwan. Total returns to shareholders of 33% over the past three years. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Kate Chen was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 09
Third quarter 2022 earnings released: EPS: NT$0.30 (vs NT$0.57 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.30 (down from NT$0.57 in 3Q 2021). Revenue: NT$365.3m (up 4.2% from 3Q 2021). Net income: NT$13.8m (down 47% from 3Q 2021). Profit margin: 3.8% (down from 7.4% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 09
Upcoming dividend of NT$0.18 per share Eligible shareholders must have bought the stock before 16 September 2022. Payment date: 20 October 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 15%. Within top quartile of Taiwanese dividend payers (6.6%). Higher than average of industry peers (2.6%). Reported Earnings • Sep 04
Second quarter 2022 earnings released: EPS: NT$0.49 (vs NT$0.45 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.49 (up from NT$0.45 in 2Q 2021). Revenue: NT$329.0m (down 1.9% from 2Q 2021). Net income: NT$22.5m (up 8.5% from 2Q 2021). Profit margin: 6.8% (up from 6.2% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Aug 30
Patec Precision Industry Co., Ltd. Announces Cash Dividend for the First Half of 2022, Payable on October 20, 2022 Patec Precision Industry Co., Ltd. announced cash dividend of TWD 8,236,747 (TWD 0.18 cash dividend per share) for the first half of 2022. Ex-rights (ex-dividend) trading date is September 16, 2022. Ex-rights (ex-dividend) record date is September 24, 2022. The cash dividend will be distributed on October 20, 2022. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$21.25, the stock trades at a trailing P/E ratio of 14.2x. Average trailing P/E is 19x in the Auto Components industry in Taiwan. Total returns to shareholders of 10% over the past three years. Upcoming Dividend • Jun 30
Upcoming dividend of NT$3.00 per share Eligible shareholders must have bought the stock before 07 July 2022. Payment date: 08 August 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 24%. Within top quartile of Taiwanese dividend payers (6.4%). Higher than average of industry peers (2.8%). Announcement • Jun 22
Patec Precision Industry Co., Ltd. Announces Cash Dividend for the Second Half of 2021, Payable on August 8, 2022 Patec Precision Industry Co., Ltd. announced Second half of 2021 is Cash dividend TWD 137,279,109. Ex-rights (ex-dividend) trading date is July 7, 2022. Ex-rights (ex-dividend) record date is July 13, 2022. The cash dividend will be distributed on August 8, 2022., at the AGM held on June 21, 2022. Board Change • Jun 07
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. 2 highly experienced directors. GM & Director Hong Wee is the most experienced director on the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • May 19
First quarter 2022 earnings released: EPS: NT$0.15 (vs NT$0.12 in 1Q 2021) First quarter 2022 results: EPS: NT$0.15 (up from NT$0.12 in 1Q 2021). Revenue: NT$332.2m (up 2.2% from 1Q 2021). Net income: NT$6.74m (up 24% from 1Q 2021). Profit margin: 2.0% (up from 1.7% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Apr 02
Patec Precision Industry Co., Ltd., Annual General Meeting, Jun 20, 2022 Patec Precision Industry Co., Ltd., Annual General Meeting, Jun 20, 2022. Reported Earnings • Apr 02
Full year 2021 earnings released: EPS: NT$1.47 (vs NT$0.69 in FY 2020) Full year 2021 results: EPS: NT$1.47 (up from NT$0.69 in FY 2020). Revenue: NT$1.37b (up 16% from FY 2020). Net income: NT$67.3m (up 114% from FY 2020). Profit margin: 4.9% (up from 2.7% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Feb 22
Patec Precision Industry Co., Ltd. Appoints Ong Boon Hock as Chief Operating Officer Patec Precision Industry Co., Ltd. appointed Ong Boon Hock /Shinwa Precision Hungary, Managing Director as Chief Operating Officer. Effective date: August 26, 2021. Any other matters that need to be specified: Ong Boon Hock also serves as General Manager of Indonesia (Supplementary Announcement). Date of occurrence of the change: February 02, 2021. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.57 (vs NT$0.21 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$350.7m (up 17% from 3Q 2020). Net income: NT$26.1m (up 173% from 3Q 2020). Profit margin: 7.4% (up from 3.2% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment improved over the past week After last week's 16% share price gain to NT$31.90, the stock trades at a trailing P/E ratio of 26.1x. Average trailing P/E is 17x in the Auto Components industry in Taiwan. Total returns to shareholders of 14% over the past three years. Upcoming Dividend • Sep 06
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 13 September 2021. Payment date: 13 October 2021. Trailing yield: 5.4%. Within top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (2.6%). Reported Earnings • Sep 03
Second quarter 2021 earnings released: EPS NT$0.45 (vs NT$0.45 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: NT$335.4m (up 40% from 2Q 2020). Net income: NT$20.7m (up 1.4% from 2Q 2020). Profit margin: 6.2% (down from 8.6% 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 56% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Board Change • Aug 27
High number of new directors Chairman & CEO Michael Wee was the last director to join the board, commencing their role in 2021. Executive Departure • Jun 18
General Manager for Wuxi Jingxin Precision Machine Co Ltd Ping Chang has left the company On the 16th of June, Ping Chang's tenure as General Manager for Wuxi Jingxin Precision Machine Co Ltd ended. We don't have any record of a personal shareholding under Ping's name. A total of 3 executives have left over the last 12 months. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.12 (vs NT$0.41 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$325.1m (up 11% from 1Q 2020). Net income: NT$5.43m (up NT$24.2m from 1Q 2020). Profit margin: 1.7% (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 59% 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. Valuation Update With 7 Day Price Move • May 14
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$24.60, the stock trades at a trailing P/E ratio of 35.7x. Average trailing P/E is 24x in the Auto Components industry in Taiwan. Total loss to shareholders of 43% over the past three years. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improved over the past week After last week's 20% share price gain to NT$29.30, the stock trades at a trailing P/E ratio of 42.5x. Average trailing P/E is 28x in the Auto Components industry in Taiwan. Total loss to shareholders of 30% over the past three years. Executive Departure • Apr 25
Director has left the company On the 22nd of April, Mui Goh's tenure as Director ended after 9.8 years in the role. We don't have any record of a personal shareholding under Mui's name. A total of 2 executives have left over the last 12 months. Executive Departure • Apr 25
Director has left the company On the 22nd of April, Hiroyuki Hidaka's tenure as Director ended after 1.8 years in the role. We don't have any record of a personal shareholding under Hiroyuki's name. A total of 2 executives have left over the last 12 months. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improved over the past week After last week's 15% share price gain to NT$23.30, the stock trades at a trailing P/E ratio of 33.8x. Average trailing P/E is 26x in the Auto Components industry in Taiwan. Total loss to shareholders of 45% over the past three years. Reported Earnings • Apr 01
Full year 2020 earnings released: EPS NT$0.69 (vs NT$0.85 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: NT$1.18b (down 34% from FY 2019). Net income: NT$31.5m (down 19% from FY 2019). Profit margin: 2.7% (up from 2.2% 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 59% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Announcement • Mar 18
Wee Hong Jie, Director made an offer to acquire an unknown stake in Patec Precision Industry Co., Ltd. (TSEC:2236) from Goh Mui Teck, Chairman; Hiroyuki Hidaka, Director; and others. Wee Hong Jie, Director made an offer to acquire an unknown stake in Patec Precision Industry Co., Ltd. (TSEC:2236) from Goh Mui Teck, Chairman; Hiroyuki Hidaka, Director; and others on March 16, 2021. On October 30, 2020, Goh Mui Teck and Hiroyuki Hidaka signed a letter of undertaking wherein they promised the offeror that they will sell their shares in response to the public tender offer. Patec Precision will hold a review committee meeting and a meeting of the Board of Directors within 15 days to make a recommendation to the shareholders and asses the fairness of the offer. Transaction is expected to be completed within one year. Announcement • Mar 12
Patec Precision Industry Co., Ltd. Announces Dismissal of Director, Wee Liang Kiang Patec Precision Industry Co., Ltd. announced dismissal of Director, Wee Liang Kiang. Is New 90 Day High Low • Jan 04
New 90-day high: NT$20.05 The company is up 23% from its price of NT$16.27 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 Auto Components industry, which is up 15% over the same period. Is New 90 Day High Low • Dec 15
New 90-day high: NT$18.50 The company is up 9.0% from its price of NT$17.00 on 16 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. Is New 90 Day High Low • Nov 26
New 90-day high: NT$18.15 The company is up 10.0% from its price of NT$16.56 on 28 August 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 9.0% over the same period. Is New 90 Day High Low • Nov 19
New 90-day high: NT$18.15 The company is up 10.0% from its price of NT$16.50 on 21 August 2020. The Taiwanese market is up 11% 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 10.0% over the same period. Upcoming Dividend • Nov 17
Upcoming Dividend of NT$0.061 Per Share Will be paid on the 29th of December to those who are registered shareholders by the 24th of November. The trailing yield of 0.4% is below the top quartile of Taiwanese dividend payers (5.3%), and is lower than industry peers (3.1%). Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.22 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$300.0m (down 37% from 3Q 2019). Net income: NT$9.56m (down 77% from 3Q 2019). Profit margin: 3.2% (down from 8.7% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 27% per year, which means it has not declined as severely as earnings. 
