Reported Earnings • Apr 10
Full year 2025 earnings released: EPS: NT$1.49 (vs NT$2.07 in FY 2024) Full year 2025 results: EPS: NT$1.49 (down from NT$2.07 in FY 2024). Revenue: NT$1.63b (up 2.7% from FY 2024). Net income: NT$103.2m (down 28% from FY 2024). Profit margin: 6.3% (down from 9.0% in FY 2024). The decrease in margin was driven by higher expenses. 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 7% per year, which means it has not declined as severely as earnings. Announcement • Apr 02
Chen Nan Iron Wire Co.,Ltd, Annual General Meeting, Jun 24, 2026 Chen Nan Iron Wire Co.,Ltd, Annual General Meeting, Jun 24, 2026, at 09:00 Taipei Standard Time. Location: no,242 ln.275, shun an rd., hou hsiang li, lujhu district, kaohsiung city Taiwan Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$24.30, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 25x in the Machinery industry in Taiwan. Total returns to shareholders of 6.1% over the past three years. New Risk • Mar 24
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 11% 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 Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (NT$1.58b market cap, or US$49.3m). Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$19.40, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 26x in the Machinery industry in Taiwan. Total loss to shareholders of 25% over the past three years. New Risk • Feb 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (NT$1.23b market cap, or US$39.2m). Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$17.90, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 26x in the Machinery industry in Taiwan. Total returns to shareholders of 14% over the past three years. New Risk • Feb 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 7.1% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.1% average weekly change). Market cap is less than US$100m (NT$1.19b market cap, or US$37.5m). Upcoming Dividend • Oct 09
Upcoming dividend of NT$1.60 per share Eligible shareholders must have bought the stock before 16 October 2025. Payment date: 14 November 2025. Payout ratio is on the higher end at 87%, however this is supported by cash flows. Trailing yield: 7.9%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.5%). Reported Earnings • Apr 10
Full year 2024 earnings released: EPS: NT$2.07 (vs NT$1.98 in FY 2023) Full year 2024 results: EPS: NT$2.07 (up from NT$1.98 in FY 2023). Revenue: NT$1.59b (up 14% from FY 2023). Net income: NT$143.0m (up 8.8% from FY 2023). Profit margin: 9.0% (in line with FY 2023). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Announcement • Apr 09
Chen Nan Iron Wire Co.,Ltd, Annual General Meeting, Jun 27, 2025 Chen Nan Iron Wire Co.,Ltd, Annual General Meeting, Jun 27, 2025, at 09:00 Taipei Standard Time. Location: no,242 ln.275, shun an rd., hou hsiang li, lujhu district, kaohsiung city Taiwan Buy Or Sell Opportunity • Apr 07
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 16% to NT$20.00. The fair value is estimated to be NT$25.75, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has grown by 7.5%. New Risk • Feb 28
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (8.4% net profit margin). Market cap is less than US$100m (NT$1.50b market cap, or US$45.6m). Upcoming Dividend • Sep 09
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 16 September 2024. Payment date: 15 October 2024. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Taiwanese dividend payers (4.4%). Lower than average of industry peers (2.5%). New Risk • Aug 28
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% 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 (19% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (8.4% net profit margin). Market cap is less than US$100m (NT$1.68b market cap, or US$52.6m). New Risk • Aug 05
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: 9.5% Last year net profit margin: 14% 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 (56% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (9.5% net profit margin). Market cap is less than US$100m (NT$1.61b market cap, or US$49.3m). Buy Or Sell Opportunity • Jul 01
Now 21% overvalued Over the last 90 days, the stock has fallen 10% to NT$28.20. The fair value is estimated to be NT$23.25, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.9% over the last year. Meanwhile, the company has become profitable. New Risk • Jun 30
New major risk - Revenue and earnings growth Revenue has declined by 9.9% over the past year. 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 revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Revenue has declined by 9.9% over the past year. Minor Risks High level of debt (69% net debt to equity). Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (8.3% increase in shares outstanding). Market cap is less than US$100m (NT$1.67b market cap, or US$51.4m). Buy Or Sell Opportunity • Jun 08
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 8.1% to NT$28.60. The fair value is estimated to be NT$23.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Mar 14
Chen Nan Iron Wire Co.,Ltd, Annual General Meeting, Jun 20, 2024 Chen Nan Iron Wire Co.,Ltd, Annual General Meeting, Jun 20, 2024. New Risk • Mar 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 7.2% 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 (69% net debt to equity). Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.2% average weekly change). Shareholders have been diluted in the past year (8.3% increase in shares outstanding). Market cap is less than US$100m (NT$1.91b market cap, or US$60.7m). Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$31.75, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 22x in the Machinery industry in Taiwan. Total returns to shareholders of 111% over the past three years. Buy Or Sell Opportunity • Mar 04
Now 23% overvalued Over the last 90 days, the stock has fallen 5.7% to NT$28.00. The fair value is estimated to be NT$22.82, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years. Meanwhile, the company has become profitable. New Risk • Feb 24
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks High level of debt (69% net debt to equity). Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (8.3% increase in shares outstanding). Market cap is less than US$100m (NT$1.71b market cap, or US$54.1m). New Risk • Oct 05
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 6.0% 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 (69% net debt to equity). Short dividend paying track record (1 year of continuous dividend payments). Share price has been volatile over the past 3 months (6.0% average weekly change). Shareholders have been diluted in the past year (8.3% increase in shares outstanding). Market cap is less than US$100m (NT$1.92b market cap, or US$59.4m). Reported Earnings • Aug 09
First half 2023 earnings released: EPS: NT$1.47 (vs NT$2.38 in 1H 2022) First half 2023 results: EPS: NT$1.47 (down from NT$2.38 in 1H 2022). Revenue: NT$741.4m (down 30% from 1H 2022). Net income: NT$81.4m (down 38% from 1H 2022). Profit margin: 11% (down from 13% in 1H 2022). The decrease in margin was driven by lower 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 24% per year, which means it is significantly lagging earnings growth. New Risk • Aug 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 8.3% 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: Minor Risks High level of debt (106% net debt to equity). Short dividend paying track record (1 year of continuous dividend payments). Share price has been volatile over the past 3 months (6.9% average weekly change). Shareholders have been diluted in the past year (8.3% increase in shares outstanding). Market cap is less than US$100m (NT$2.03b market cap, or US$64.0m). Valuation Update With 7 Day Price Move • May 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$42.80, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 14x in the Machinery industry in Taiwan. Total returns to shareholders of 154% over the past three years. Upcoming Dividend • May 18
Upcoming dividend of NT$2.00 per share at 1.1% yield Eligible shareholders must have bought the stock before 25 May 2023. Payment date: 15 June 2023. Payout ratio is a comfortable 7.8% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Taiwanese dividend payers (5.8%). Lower than average of industry peers (3.2%). Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$38.25, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 13x in the Machinery industry in Taiwan. Total returns to shareholders of 59% over the past three years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$33.95, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 13x in the Machinery industry in Taiwan. Total returns to shareholders of 41% over the past three years. Announcement • Jan 14
Chen Nan Iron Wire Co., Ltd., Annual General Meeting, Apr 21, 2023 Chen Nan Iron Wire Co., Ltd., Annual General Meeting, Apr 21, 2023. Reported Earnings • Aug 10
First half 2022 earnings released: EPS: NT$3.14 (vs NT$2.08 in 1H 2021) First half 2022 results: EPS: NT$3.14 (up from NT$2.08 in 1H 2021). Revenue: NT$1.06b (up 16% from 1H 2021). Net income: NT$132.1m (up 51% from 1H 2021). Profit margin: 13% (up from 9.5% in 1H 2021). Reported Earnings • Mar 30
Full year 2021 earnings released: EPS: NT$3.13 (vs NT$1.08 loss in FY 2020) Full year 2021 results: EPS: NT$3.13 (up from NT$1.08 loss in FY 2020). Revenue: NT$1.82b (flat on FY 2020). Net income: NT$131.3m (up NT$176.7m from FY 2020). Profit margin: 7.2% (up from net loss in FY 2020). Reported Earnings • Aug 13
First half 2021 earnings released: EPS NT$2.08 (vs NT$0.59 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: NT$914.7m (up 12% from 1H 2020). Net income: NT$87.3m (up NT$112.1m from 1H 2020). Profit margin: 9.5% (up from net loss in 1H 2020). The move to profitability was primarily driven by higher revenue. Reported Earnings • Apr 16
Full year 2020 earnings released: NT$1.08 loss per share (vs NT$0.12 loss in FY 2019) The company reported a soft full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: NT$1.83b (up 15% from FY 2019). Net loss: NT$45.3m (loss widened NT$40.4m from FY 2019).