New Risk • Jul 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.21b (US$99.0m) 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 8.6% per year over the past 5 years. 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 (11% average weekly change). Market cap is less than US$100m (NT$3.21b market cap, or US$99.0m). Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$57.20, the stock trades at a trailing P/E ratio of 22.4x. Average trailing P/E is 18x in the Trade Distributors industry in Taiwan. Total returns to shareholders of 74% over the past three years. Declared Dividend • Jun 26
Dividend reduced to NT$2.00 Dividend of NT$2.00 is 13% lower than last year. Ex-date: 29th July 2026 Payment date: 21st August 2026 Dividend yield will be 2.7%, which is lower than the industry average of 5.0%. Sustainability & Growth Dividend is covered by both earnings (78% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has increased by an average of 6.8% 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 decline by 13% to shift the payout ratio to a potentially unsustainable range, which is more than the 2.8% EPS decline seen over the last 5 years. Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$89.60, the stock trades at a trailing P/E ratio of 35.1x. Average trailing P/E is 21x in the Trade Distributors industry in Taiwan. Total returns to shareholders of 176% over the past three years. New Risk • Jun 17
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 9.5% 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 Earnings have declined by 8.6% per year over the past 5 years. 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 (9.5% average weekly change). Valuation Update With 7 Day Price Move • May 20
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$57.80, the stock trades at a trailing P/E ratio of 22.6x. Average trailing P/E is 19x in the Trade Distributors industry in Taiwan. Total returns to shareholders of 81% over the past three years. Reported Earnings • May 13
First quarter 2026 earnings released: EPS: NT$1.00 (vs NT$1.23 in 1Q 2025) First quarter 2026 results: EPS: NT$1.00. Revenue: NT$731.6m (up 6.6% from 1Q 2025). Net income: NT$71.7m (up 3.5% from 1Q 2025). Profit margin: 9.8% (in line with 1Q 2025). New Risk • Mar 13
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: 4.8% Last year net profit margin: 7.3% 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: Major Risk Earnings have declined by 6.4% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (105% payout ratio). Profit margins are more than 30% lower than last year (4.8% net profit margin). Market cap is less than US$100m (NT$2.44b market cap, or US$76.2m). Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: NT$2.51 (vs NT$3.68 in FY 2024) Full year 2025 results: EPS: NT$2.51 (down from NT$3.68 in FY 2024). Revenue: NT$2.92b (up 3.5% from FY 2024). Net income: NT$141.2m (down 32% from FY 2024). Profit margin: 4.8% (down from 7.3% 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 16% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Mar 03
Podak Co., Ltd., Annual General Meeting, Jun 23, 2026 Podak Co., Ltd., Annual General Meeting, Jun 23, 2026. Location: 3 floor no,16, sec.4 chung shan n. rd., taipei city Taiwan Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: NT$1.25 (vs NT$0.41 in 3Q 2024) Third quarter 2025 results: EPS: NT$1.25 (up from NT$0.41 in 3Q 2024). Revenue: NT$741.6m (flat on 3Q 2024). Net income: NT$70.6m (up 210% from 3Q 2024). Profit margin: 9.5% (up from 3.0% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. New Risk • Nov 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 6.8% 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 Earnings have declined by 1.1% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (172% payout ratio). Share price has been volatile over the past 3 months (6.8% average weekly change). Profit margins are more than 30% lower than last year (2.6% net profit margin). Market cap is less than US$100m (NT$2.64b market cap, or US$85.5m). Buy Or Sell Opportunity • Nov 05
Now 22% undervalued Over the last 90 days, the stock has risen 4.2% to NT$44.50. The fair value is estimated to be NT$57.23, however this is not to be taken as a buy 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 20%. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$42.60, the stock trades at a trailing P/E ratio of 31.9x. Average trailing P/E is 15x in the Trade Distributors industry in Taiwan. Total returns to shareholders of 61% over the past three years. New Risk • Aug 11
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 63% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.1% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.6% net profit margin). Market cap is less than US$100m (NT$2.19b market cap, or US$73.4m). Reported Earnings • Aug 09
Second quarter 2025 earnings released: NT$1.18 loss per share (vs NT$0.90 profit in 2Q 2024) Second quarter 2025 results: NT$1.18 loss per share (down from NT$0.90 profit in 2Q 2024). Revenue: NT$748.6m (up 9.0% from 2Q 2024). Net loss: NT$66.6m (down 232% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Declared Dividend • Jul 28
Dividend of NT$2.30 announced Shareholders will receive a dividend of NT$2.30. Ex-date: 29th July 2025 Payment date: 22nd August 2025 Dividend yield will be 5.0%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (67% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 2.9% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 4.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Upcoming Dividend • Jul 22
Upcoming dividend of NT$2.30 per share Eligible shareholders must have bought the stock before 29 July 2025. Payment date: 22 August 2025. Payout ratio is a comfortable 67% and this is well supported by cash flows. Trailing yield: 5.1%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (4.0%). Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$1.23 (vs NT$1.49 in 1Q 2024) First quarter 2025 results: EPS: NT$1.23 (down from NT$1.49 in 1Q 2024). Revenue: NT$686.2m (down 4.6% from 1Q 2024). Net income: NT$69.3m (down 17% from 1Q 2024). Profit margin: 10% (down from 12% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$46.40, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 16x in the Trade Distributors industry in Taiwan. Total returns to shareholders of 52% over the past three years. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$38.80, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 14x in the Trade Distributors industry in Taiwan. Total returns to shareholders of 22% over the past three years. Reported Earnings • Mar 28
Full year 2024 earnings released: EPS: NT$3.67 (vs NT$2.65 in FY 2023) Full year 2024 results: EPS: NT$3.67 (up from NT$2.65 in FY 2023). Revenue: NT$2.82b (flat on FY 2023). Net income: NT$206.7m (up 39% from FY 2023). Profit margin: 7.3% (up from 5.3% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Mar 05
Podak Co., LTD., Annual General Meeting, Jun 25, 2025 Podak Co., LTD., Annual General Meeting, Jun 25, 2025. Location: 2 floor no,16, sec.4 chung shan n. rd., taipei city Taiwan Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.40 (vs NT$1.13 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.40 (down from NT$1.13 in 3Q 2023). Revenue: NT$747.3m (down 5.6% from 3Q 2023). Net income: NT$22.8m (down 64% from 3Q 2023). Profit margin: 3.0% (down from 8.0% in 3Q 2023). 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 16% per year, which means it is well ahead of earnings. New Risk • Nov 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.14b (US$97.7m) 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: Minor Risks 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$3.14b market cap, or US$97.7m). Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$62.00, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 14x in the Trade Distributors industry in Taiwan. Total returns to shareholders of 134% over the past three years. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.94 (vs NT$0.61 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.94 (up from NT$0.61 in 2Q 2023). Revenue: NT$686.9m (up 1.8% from 2Q 2023). Net income: NT$50.5m (up 46% from 2Q 2023). Profit margin: 7.4% (up from 5.1% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$51.80, the stock trades at a trailing P/E ratio of 16x. Average trailing P/E is 15x in the Trade Distributors industry in Taiwan. Total returns to shareholders of 89% over the past three years. Upcoming Dividend • Jul 30
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 06 August 2024. Payment date: 23 August 2024. Payout ratio is a comfortable 59% but the company is paying out more than the cash it is generating. Trailing yield: 3.1%. Lower than top quartile of Taiwanese dividend payers (4.4%). In line with average of industry peers (3.3%). Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$70.40, the stock trades at a trailing P/E ratio of 20.7x. Average trailing P/E is 17x in the Trade Distributors industry in Taiwan. Total returns to shareholders of 128% over the past three years. New Risk • Jun 13
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: Minor Risks Dividend is not well covered by cash flows (dividend per share is over 6x cash flows per share). Share price has been volatile over the past 3 months (6.6% average weekly change). Valuation Update With 7 Day Price Move • May 24
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to NT$55.60, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 15x in the Trade Distributors industry in Taiwan. Total returns to shareholders of 80% over the past three years. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$1.56 (vs NT$0.94 in 1Q 2023) First quarter 2024 results: EPS: NT$1.56 (up from NT$0.94 in 1Q 2023). Revenue: NT$719.3m (up 5.8% from 1Q 2023). Net income: NT$83.7m (up 66% from 1Q 2023). Profit margin: 12% (up from 7.4% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Apr 02
Podak Co., LTD., Annual General Meeting, Jun 25, 2024 Podak Co., LTD., Annual General Meeting, Jun 25, 2024. Reported Earnings • Mar 17
Full year 2023 earnings released: EPS: NT$2.78 (vs NT$4.42 in FY 2022) Full year 2023 results: EPS: NT$2.78 (down from NT$4.42 in FY 2022). Revenue: NT$2.84b (flat on FY 2022). Net income: NT$148.9m (down 37% from FY 2022). Profit margin: 5.3% (down from 8.4% in FY 2022). Over the last 3 years on average, earnings per share has increased by 3% per year and the company’s share price has also increased by 3% per year. New Risk • Nov 08
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: 6.2% Last year net profit margin: 9.2% 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 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 (6.2% net profit margin). Market cap is less than US$100m (NT$2.08b market cap, or US$64.4m). Reported Earnings • Nov 08
Third quarter 2023 earnings released: EPS: NT$1.19 (vs NT$1.22 in 3Q 2022) Third quarter 2023 results: EPS: NT$1.19 (down from NT$1.22 in 3Q 2022). Revenue: NT$791.2m (up 42% from 3Q 2022). Net income: NT$63.7m (down 2.5% from 3Q 2022). Profit margin: 8.0% (down from 12% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 9% per year. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$0.64 (vs NT$1.11 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.64 (down from NT$1.11 in 2Q 2022). Revenue: NT$674.4m (up 11% from 2Q 2022). Net income: NT$34.5m (down 42% from 2Q 2022). Profit margin: 5.1% (down from 9.8% 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 15% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 20
Upcoming dividend of NT$2.50 per share at 6.3% yield Eligible shareholders must have bought the stock before 27 July 2023. Payment date: 22 August 2023. Payout ratio is a comfortable 66% and the cash payout ratio is 88%. Trailing yield: 6.3%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (5.1%). Reported Earnings • Mar 19
Full year 2022 earnings released: EPS: NT$4.42 (vs NT$3.97 in FY 2021) Full year 2022 results: EPS: NT$4.42 (up from NT$3.97 in FY 2021). Revenue: NT$2.81b (down 11% from FY 2021). Net income: NT$236.6m (up 11% from FY 2021). Profit margin: 8.4% (up from 6.7% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 12
Third quarter 2022 earnings released: EPS: NT$1.22 (vs NT$0.91 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.22 (up from NT$0.91 in 3Q 2021). Revenue: NT$557.0m (down 29% from 3Q 2021). Net income: NT$65.3m (up 34% from 3Q 2021). Profit margin: 12% (up from 6.2% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$1.11 (vs NT$0.61 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.11 (up from NT$0.61 in 2Q 2021). Revenue: NT$605.7m (down 20% from 2Q 2021). Net income: NT$59.6m (up 81% from 2Q 2021). Profit margin: 9.8% (up from 4.4% 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 18% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 12
Upcoming dividend of NT$3.50 per share Eligible shareholders must have bought the stock before 19 July 2022. Payment date: 22 August 2022. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 9.7%. Within top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (5.9%). Buying Opportunity • Jun 14
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.3%. The fair value is estimated to be NT$49.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has grown by 13%. Buying Opportunity • May 24
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be NT$49.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has grown by 13%. Reported Earnings • May 17
First quarter 2022 earnings released: EPS: NT$1.57 (vs NT$1.18 in 1Q 2021) First quarter 2022 results: EPS: NT$1.57 (up from NT$1.18 in 1Q 2021). Revenue: NT$970.0m (up 30% from 1Q 2021). Net income: NT$84.3m (up 34% from 1Q 2021). Profit margin: 8.7% (up from 8.5% 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 13% per year whereas the company’s share price has increased by 11% per year. Announcement • Apr 07
Podak Co., LTD., Annual General Meeting, Jun 23, 2022 Podak Co., LTD., Annual General Meeting, Jun 23, 2022. Reported Earnings • Mar 31
Full year 2021 earnings released: EPS: NT$3.97 (vs NT$2.81 in FY 2020) Full year 2021 results: EPS: NT$3.97 (up from NT$2.81 in FY 2020). Revenue: NT$3.16b (up 9.5% from FY 2020). Net income: NT$212.5m (up 41% from FY 2020). Profit margin: 6.7% (up from 5.2% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 14% per year. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS NT$0.91 (vs NT$0.57 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$786.3m (up 3.4% from 3Q 2020). Net income: NT$48.7m (up 60% from 3Q 2020). Profit margin: 6.2% (up from 4.0% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$0.61 (vs NT$0.63 in 2Q 2020) The company reported a poor second quarter result with weaker earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: NT$753.8m (down 1.8% from 2Q 2020). Net income: NT$32.9m (down 3.0% from 2Q 2020). Profit margin: 4.4% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 8% per year. Upcoming Dividend • Jul 14
Upcoming dividend of NT$2.50 per share Eligible shareholders must have bought the stock before 20 July 2021. Payment date: 20 August 2021. Trailing yield: 6.5%. Within top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (3.9%). Reported Earnings • May 14
First quarter 2021 earnings released: EPS NT$1.18 (vs NT$0.90 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$744.8m (up 18% from 1Q 2020). Net income: NT$63.1m (up 31% from 1Q 2020). Profit margin: 8.5% (up from 7.6% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year and the company’s share price has also increased by 4% per year. Reported Earnings • Mar 24
Full year 2020 earnings released: EPS NT$2.81 (vs NT$2.79 in FY 2019) The company reported a mediocre full year result with weaker profit margins, although earnings were flat and revenues improved. Full year 2020 results: Revenue: NT$2.88b (up 5.8% from FY 2019). Net income: NT$150.3m (flat on FY 2019). Profit margin: 5.2% (down from 5.5% in FY 2019). The decrease in margin was driven by higher expenses. 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 18% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Mar 16
New 90-day high: NT$37.00 The company is up 8.0% from a price of NT$34.15 on 16 December 2020. Underperformed the Taiwanese market, which is up 15% over the last 90 days. Exceeded the Trade Distributors industry, which is flat over the same period. Is New 90 Day High Low • Jan 14
New 90-day high: NT$35.90 The company is up 17% from its price of NT$30.80 on 16 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Trade Distributors industry, which is up 5.0% over the same period. Is New 90 Day High Low • Dec 08
New 90-day high: NT$34.60 The company is up 8.0% from its price of NT$32.05 on 09 September 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 9.0% over the same period. Reported Earnings • Nov 10
Third quarter 2020 earnings released: EPS NT$0.57 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$760.7m (down 1.3% from 3Q 2019). Net income: NT$30.5m (down 30% from 3Q 2019). Profit margin: 4.0% (down from 5.6% in 3Q 2019). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Sep 24
New 90-day low: NT$30.25 The company is down 16% from its price of NT$35.86 on 24 June 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is down 2.0% over the same period. 
