Reported Earnings • Aug 06
Second quarter 2026 earnings released: EPS: NT$6.67 (vs NT$0.65 in 2Q 2025) Second quarter 2026 results: EPS: NT$6.67 (up from NT$0.65 in 2Q 2025). Revenue: NT$3.26b (up 9.7% from 2Q 2025). Net income: NT$2.83b (up NT$2.56b from 2Q 2025). Profit margin: 87% (up from 9.2% in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$34.25, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 23x in the Electrical industry in Taiwan. Total returns to shareholders of 81% over the past three years. Buy Or Sell Opportunity • Aug 04
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 3.6% to NT$34.25. The fair value is estimated to be NT$26.93, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Earnings per share has grown by 45%. Upcoming Dividend • Jul 17
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 22 July 2026. Payment date: 26 August 2026. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 6.2%. Within top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (2.6%). Buy Or Sell Opportunity • Jul 15
Now 23% overvalued The stock has been flat over the last 90 days, currently trading at NT$33.60. The fair value is estimated to be NT$27.31, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Earnings per share has grown by 45%. Declared Dividend • Jul 03
Dividend increased to NT$2.00 Dividend of NT$2.00 is 100% higher than last year. Ex-date: 22nd July 2026 Payment date: 26th August 2026 Dividend yield will be 5.7%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 13% per year over the past 8 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$39.40, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 25x in the Electrical industry in Taiwan. Total returns to shareholders of 73% over the past three years. Reported Earnings • May 11
First quarter 2026 earnings released: EPS: NT$0.37 (vs NT$0.37 in 1Q 2025) First quarter 2026 results: EPS: NT$0.37 (up from NT$0.37 in 1Q 2025). Revenue: NT$3.45b (up 22% from 1Q 2025). Net income: NT$157.4m (flat on 1Q 2025). Profit margin: 4.6% (down from 5.5% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Apr 14
Now 20% overvalued Over the last 90 days, the stock has fallen 15% to NT$32.90. The fair value is estimated to be NT$27.33, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Meanwhile, the company has become profitable. New Risk • Mar 12
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (24% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Mar 12
Full year 2025 earnings released: EPS: NT$5.50 (vs NT$1.55 in FY 2024) Full year 2025 results: EPS: NT$5.50 (up from NT$1.55 in FY 2024). Revenue: NT$11.3b (flat on FY 2024). Net income: NT$2.33b (up 256% from FY 2024). Profit margin: 21% (up from 5.8% in FY 2024). 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 33% per year, which means it is significantly lagging earnings growth. Announcement • Mar 10
Hua Eng Wire & Cable Co., Ltd., Annual General Meeting, Jun 17, 2026 Hua Eng Wire & Cable Co., Ltd., Annual General Meeting, Jun 17, 2026. Location: no,30, kao nan kung rd., renwu district, kaohsiung city Taiwan Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$33.60, the stock trades at a trailing P/E ratio of 6.9x. Average trailing P/E is 23x in the Electrical industry in Taiwan. Total returns to shareholders of 133% over the past three years. New Risk • Nov 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 107% 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 Dividend is not well covered by cash flows (403% cash payout ratio). Share price has been volatile over the past 3 months (7.5% average weekly change). Large one-off items impacting financial results. Reported Earnings • Nov 09
Third quarter 2025 earnings released: EPS: NT$3.73 (vs NT$0.20 in 3Q 2024) Third quarter 2025 results: EPS: NT$3.73 (up from NT$0.20 in 3Q 2024). Revenue: NT$2.82b (down 1.8% from 3Q 2024). Net income: NT$1.58b (up NT$1.50b from 3Q 2024). Profit margin: 56% (up from 3.0% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 45% per year whereas the company’s share price has increased by 40% per year. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$38.65, the stock trades at a trailing P/E ratio of 28.2x. Average trailing P/E is 28x in the Electrical industry in Taiwan. Total returns to shareholders of 196% over the past three years. New Risk • Oct 07
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 Earnings have declined by 6.3% 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 (6.6% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.1% net profit margin). New Risk • Aug 13
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% 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 6.3% 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 (5.1% net profit margin). Reported Earnings • Aug 08
Second quarter 2025 earnings released: EPS: NT$0.65 (vs NT$0.50 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.65 (up from NT$0.50 in 2Q 2024). Revenue: NT$2.98b (down 5.8% from 2Q 2024). Net income: NT$274.4m (up 28% from 2Q 2024). Profit margin: 9.2% (up from 6.8% in 2Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 10
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 15 July 2025. Payment date: 20 August 2025. Payout ratio and cash payout ratio are on the higher end at 82% and 90% respectively. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (2.7%). Declared Dividend • Jun 26
Dividend of NT$1.00 announced Dividend of NT$1.00 is the same as last year. Ex-date: 15th July 2025 Payment date: 20th August 2025 Dividend yield will be 3.9%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by earnings (82% earnings payout ratio) but not adequately covered by cash flows (90.4% cash payout ratio). The dividend has increased by an average of 3.6% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 4.0% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • May 21
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 29% 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: Minor Risks Dividend is not well covered by cash flows (90% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.5% net profit margin). Reported Earnings • May 12
First quarter 2025 earnings released: EPS: NT$0.37 (vs NT$0.69 in 1Q 2024) First quarter 2025 results: EPS: NT$0.37 (down from NT$0.69 in 1Q 2024). Revenue: NT$2.82b (up 7.8% from 1Q 2024). Net income: NT$156.1m (down 47% from 1Q 2024). Profit margin: 5.5% (down from 11% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Apr 27
Hua Eng Wire & Cable Co., Ltd. to Report Q1, 2025 Results on May 05, 2025 Hua Eng Wire & Cable Co., Ltd. announced that they will report Q1, 2025 results on May 05, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$21.05, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 17x in the Electrical industry in Taiwan. Total returns to shareholders of 9.6% over the past three years. 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 6.4% 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: 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 (6.4% average weekly change). Profit margins are more than 30% lower than last year (5.8% net profit margin). New Risk • Mar 12
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: 5.8% Last year net profit margin: 9.7% 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 (5.8% net profit margin). Reported Earnings • Mar 12
Full year 2024 earnings released: EPS: NT$1.55 (vs NT$2.23 in FY 2023) Full year 2024 results: EPS: NT$1.55 (down from NT$2.23 in FY 2023). Revenue: NT$11.3b (up 16% from FY 2023). Net income: NT$656.1m (down 31% from FY 2023). Profit margin: 5.8% (down from 9.7% in FY 2023). The decrease in margin was driven by higher 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 10% per year, which means it is significantly lagging earnings growth. Announcement • Feb 22
Hua Eng Wire & Cable Co., Ltd. to Report Q4, 2024 Results on Mar 03, 2025 Hua Eng Wire & Cable Co., Ltd. announced that they will report Q4, 2024 results on Mar 03, 2025 Announcement • Feb 19
Hua Eng Wire & Cable Co., Ltd. Announces Change in Representative of the Institutional Director Hua Eng Wire & Cable Co., Ltd. announced change in representative of the institutional director. Name of the previous position holder: Wang Yu-Fa, resume of the previous position holder: Director of HUA ENG WIRE AND CABLE CO., LTD. Name of the new position holder: Liu Chung-Jen. Resume of the new position holder: Director of FIRST COPPER TECHNOLOGY CO., LTD. Reason for the change: Change in representative of institutional director. Original term from June 21, 2023 to June 20, 2026. Effective date of the new appointment: February 18, 2025. New Risk • Dec 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • Nov 18
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 23% 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: 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. Reported Earnings • Nov 08
Third quarter 2024 earnings released: EPS: NT$0.20 (vs NT$0.17 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.20 (up from NT$0.17 in 3Q 2023). Revenue: NT$2.87b (up 19% from 3Q 2023). Net income: NT$85.9m (up 23% from 3Q 2023). Profit margin: 3.0% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Oct 26
Hua Eng Wire & Cable Co., Ltd. to Report Q3, 2024 Results on Nov 04, 2024 Hua Eng Wire & Cable Co., Ltd. announced that they will report Q3, 2024 results on Nov 04, 2024 New Risk • Aug 21
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 31% 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: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.7% average weekly change). Large one-off items impacting financial results. Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: NT$0.50 (vs NT$0.53 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.50 (down from NT$0.53 in 2Q 2023). Revenue: NT$3.16b (up 40% from 2Q 2023). Net income: NT$213.6m (down 4.8% from 2Q 2023). Profit margin: 6.8% (down from 9.9% in 2Q 2023). The decrease in margin was driven by higher expenses. 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 9% per year, which means it is well ahead of earnings. Announcement • Jul 27
Hua Eng Wire & Cable Co., Ltd. to Report Q2, 2024 Results on Aug 05, 2024 Hua Eng Wire & Cable Co., Ltd. announced that they will report Q2, 2024 results on Aug 05, 2024 Upcoming Dividend • Jul 05
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 10 July 2024. Payment date: 15 August 2024. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.2%). Announcement • Jun 25
Hua Eng Wire & Cable Co., Ltd. Announces Change of Institutional Director Hua Eng Wire & Cable Co., Ltd. announced change of institutional director. Name of the previous position holder: Yang Ming-Shan. Resume of the previous position holder: Director of FIRST COPPER TECHNOLOGY CO., LTD. Name of the new position holder: Wang Ming Jen. Resume of the new position holder: FIRST COPPER TECHNOLOGY CO., LTD. Effective date of the new appointment: July 1 2024. Declared Dividend • Jun 21
Dividend increased to NT$1.00 Dividend of NT$1.00 is 150% higher than last year. Ex-date: 10th July 2024 Payment date: 15th August 2024 Dividend yield will be 2.6%, which is lower than the industry average of 3.1%. Sustainability & Growth Dividend is covered by both earnings (48% earnings payout ratio) and cash flows (60% cash payout ratio). The dividend has increased by an average of 3.6% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 21% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jun 20
Hua Eng Wire & Cable Co., Ltd. Announces Cash Dividend Payable on August 15, 2024 Hua Eng Wire & Cable Co., Ltd. announced cash dividends of TWD 632,773,506 (TWD 1 per share) of common stock. Ex-rights (ex-dividend) trading date is July 10, 2024. Ex-rights (ex-dividend) record date is July 16, 2024. Payment date of common stock cash dividend distribution is August 15, 2024. Date of the resolution by the board of directors or shareholders meeting or decision by the Company is June 19, 2024. Reported Earnings • May 09
First quarter 2024 earnings released: EPS: NT$0.69 (vs NT$0.84 in 1Q 2023) First quarter 2024 results: EPS: NT$0.69 (down from NT$0.84 in 1Q 2023). Revenue: NT$2.62b (up 4.7% from 1Q 2023). Net income: NT$292.0m (down 18% from 1Q 2023). Profit margin: 11% (down from 14% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • Apr 28
Hua Eng Wire & Cable Co., Ltd. to Report Q1, 2024 Results on May 06, 2024 Hua Eng Wire & Cable Co., Ltd. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 06, 2024 Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$36.00, the stock trades at a trailing P/E ratio of 16.1x. Average trailing P/E is 26x in the Electrical industry in Taiwan. Total returns to shareholders of 31% over the past three years. New Risk • Apr 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: 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 (6.4% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$36.30, the stock trades at a trailing P/E ratio of 16.2x. Average trailing P/E is 25x in the Electrical industry in Taiwan. Total returns to shareholders of 163% over the past three years. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$25.80, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 20x in the Electrical industry in Taiwan. Total returns to shareholders of 126% over the past three years. New Risk • Mar 12
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 62% 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: 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. Reported Earnings • Mar 08
Full year 2023 earnings released: EPS: NT$2.23 (vs NT$0.086 loss in FY 2022) Full year 2023 results: EPS: NT$2.23 (up from NT$0.086 loss in FY 2022). Revenue: NT$9.75b (down 9.3% from FY 2022). Net income: NT$947.8m (up NT$984.3m from FY 2022). Profit margin: 9.7% (up from net loss in FY 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Buying Opportunity • Nov 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.0%. The fair value is estimated to be NT$24.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 25%. Announcement • Sep 10
Hua Eng Wire & Cable Co., Ltd. Announces Executive Changes Hua Eng Wire & Cable Co., Ltd. announced the change of President. Name of the previous position holder: Fang Wu-Nan. Resume of the previous position holder: President and Spokesperson, Hua Eng Wire And Cable Co., Ltd. Name of the new position holder: Huang Hua-Chih. Resume of the new position holder: Deputy General Manager of Business Department, Hua Eng Wire And Cable Co., Ltd. The board of directors approved Deputy General Manager Huang Hua-Chih was promoted to President. Effective date of the new appointment is September 8, 2023. Announcement • Aug 29
Hua Eng Wire & Cable Co., Ltd. Announces Change of President Hua Eng Wire & Cable Co., Ltd. announced the Change of President. Name of the previous position holder: Fang Wu-Nan. Resume of the previous position holder: President and Spokesperson, Hua Eng Wire And Cable Co., Ltd. Name of the new position holder: Huang Hua-Chih temporarily take the post of President. Resume of the new position holder: Deputy General Manager of Business Department, Hua Eng Wire And Cable Co., Ltd. Reason for the change: Death. New Risk • Aug 13
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 66% 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: Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Large one-off items impacting financial results. Reported Earnings • Aug 09
Second quarter 2023 earnings released: EPS: NT$0.53 (vs NT$0.32 loss in 2Q 2022) Second quarter 2023 results: EPS: NT$0.53 (up from NT$0.32 loss in 2Q 2022). Revenue: NT$2.26b (down 18% from 2Q 2022). Net income: NT$224.5m (up NT$359.2m from 2Q 2022). Profit margin: 9.9% (up from net loss in 2Q 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 05
Upcoming dividend of NT$0.40 per share at 1.7% yield Eligible shareholders must have bought the stock before 12 July 2023. Payment date: 16 August 2023. Payout ratio is a comfortable 42% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (3.0%). Announcement • Jun 27
Hua Eng Wire & Cable Co., Ltd. Announces Cash Dividend, Payable on August 16, 2023 Hua Eng Wire & Cable Co., Ltd. announced cash dividends TWD 253,109,402 (TWD 0.4 per share) of common stock. Ex-rights (ex-dividend) trading date: July 12, 2023; Ex-rights (ex-dividend) record date: July 18, 2023; Payment date of cash dividend distribution: August 16, 2023. Announcement • Jun 22
Hua Eng Wire & Cable Co., Ltd.Elects Wang Wen-Ling as Director Hua Eng Wire & Cable Co., Ltd. at its AGM, held on June 21, 2023, appointed Mei-Da Co., Ltd. Representative: Wang Wen-Ling, as director. Valuation Update With 7 Day Price Move • May 25
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$21.70, the stock trades at a trailing P/E ratio of 22.5x. Average trailing P/E is 15x in the Electrical industry in Taiwan. Total returns to shareholders of 187% over the past three years. Reported Earnings • Mar 12
Full year 2022 earnings released: NT$0.09 loss per share (vs NT$3.27 profit in FY 2021) Full year 2022 results: NT$0.09 loss per share (down from NT$3.27 profit in FY 2021). Revenue: NT$10.7b (up 2.5% from FY 2021). Net loss: NT$36.5m (down 103% from profit in FY 2021). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Board Change • Nov 16
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. Independent Director Chin-Feng Sun was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 12
Third quarter 2022 earnings released: EPS: NT$0.03 (vs NT$0.24 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.03 (down from NT$0.24 in 3Q 2021). Revenue: NT$2.79b (up 2.9% from 3Q 2021). Net income: NT$12.4m (down 88% from 3Q 2021). Profit margin: 0.4% (down from 3.8% in 3Q 2021). 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 12% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Nov 08
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 3.4%. The fair value is estimated to be NT$18.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improved over the past week After last week's 16% share price gain to NT$14.95, the stock trades at a trailing P/E ratio of 34x. Average trailing P/E is 14x in the Electrical industry in Taiwan. Total returns to shareholders of 88% over the past three years. Reported Earnings • Aug 13
Second quarter 2022 earnings released: NT$0.32 loss per share (vs NT$0.25 profit in 2Q 2021) Second quarter 2022 results: NT$0.32 loss per share (down from NT$0.25 profit in 2Q 2021). Revenue: NT$2.76b (up 5.1% from 2Q 2021). Net loss: NT$134.7m (down 229% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment deteriorated over the past week After last week's 18% share price decline to NT$13.45, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 14x in the Electrical industry in Taiwan. Total returns to shareholders of 61% over the past three years. Upcoming Dividend • Jun 30
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 07 July 2022. Payment date: 11 August 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 8.9%. Within top quartile of Taiwanese dividend payers (6.4%). Higher than average of industry peers (3.6%). Buying Opportunity • Jun 20
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 23%. The fair value is estimated to be NT$22.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Jun 18
Hua Eng Wire & Cable Co., Ltd. Announces Cash Dividend, Payable on August 11, 2022 Hua Eng Wire & Cable Co., Ltd. announced cash dividends of TWD 949,160,259 (TWD 1.50 per share) of common stock. Ex-rights (ex-dividend) trading date is July 7, 2022. Ex-rights (ex-dividend) record date is July 15, 2022. Cash dividend will be paid on August 11, 2022. Buying Opportunity • May 12
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be NT$22.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • May 11
First quarter 2022 earnings released: NT$0.21 loss per share (vs NT$2.06 profit in 1Q 2021) First quarter 2022 results: NT$0.21 loss per share (down from NT$2.06 profit in 1Q 2021). Revenue: NT$2.77b (up 23% from 1Q 2021). Net loss: NT$87.8m (down 110% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 23% 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. 4 non-independent directors. Independent Director Chin-Feng Sun was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 23
Hua Eng Wire & Cable Co., Ltd., Annual General Meeting, Jun 16, 2022 Hua Eng Wire & Cable Co., Ltd., Annual General Meeting, Jun 16, 2022. Location: No.30, Kao nan Highway Kaohsiung City Taiwan Agenda: To consider 2021 Business report; to consider Audit Committee's report of 2021 audited financial reports; to consider 2021 Remuneration distribution of directors and employee; to 2021 Business report and financial statements; to 2021 Distribution earnings; and to consider any other matter. Board Change • Mar 06
Less than half of directors are independent Following Director Ming Jen Wang's arrival on 01 March 2022, 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 Chin-Feng Sun was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 05
Hua Eng Wire & Cable Co., Ltd. Announces Executive Changes Hua Eng Wire & Cable Co., Ltd. announced the change in representative of the Company's institutional director. Name of the previous position holder: Lin Min-Shiang; Resume of the previous position holder: Director of FIRST COPPER TECHNOLOGY CO., LTD.; Name of the new position holder: Wang Ming Jen; Resume of the new position holder: Director of TAIWAN TIMES; Effective date of the new appointment is March 3, 2022. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.24 (vs NT$0.47 in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$2.71b (up 36% from 3Q 2020). Net income: NT$103.2m (down 48% from 3Q 2020). Profit margin: 3.8% (down from 10.0% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 02
Upcoming dividend of NT$0.70 per share Eligible shareholders must have bought the stock before 09 September 2021. Payment date: 07 October 2021. Trailing yield: 2.8%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (3.2%). Reported Earnings • Aug 11
Second quarter 2021 earnings released: EPS NT$0.25 (vs NT$1.72 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$2.62b (up 48% from 2Q 2020). Net income: NT$104.4m (down 86% from 2Q 2020). Profit margin: 4.0% (down from 41% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improved over the past week After last week's 20% share price gain to NT$32.10, the stock trades at a trailing P/E ratio of 6x. Average trailing P/E is 16x in the Electrical industry in Taiwan. Total returns to shareholders of 232% over the past three years. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improved over the past week After last week's 17% share price gain to NT$28.05, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 15x in the Electrical industry in Taiwan. Total returns to shareholders of 175% over the past three years. Reported Earnings • May 14
First quarter 2021 earnings released: EPS NT$2.06 (vs NT$2.49 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$2.25b (up 32% from 1Q 2020). Net income: NT$874.7m (up NT$1.93b from 1Q 2020). Profit margin: 39% (up from net loss in 1Q 2020). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improved over the past week After last week's 17% share price gain to NT$31.20, the stock trades at a trailing P/E ratio of 40.9x. Average trailing P/E is 19x in the Electrical industry in Taiwan. Total returns to shareholders of 204% 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 19% share price gain to NT$16.65, the stock trades at a trailing P/E ratio of 21.8x. Average trailing P/E is 18x in the Electrical industry in Taiwan. Total returns to shareholders of 60% over the past three years. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS NT$0.76 (vs NT$1.87 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$7.44b (down 5.0% from FY 2019). Net income: NT$323.7m (down 59% from FY 2019). Profit margin: 4.4% (down from 10% in FY 2019). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. 
