Reported Earnings • Apr 01
Full year 2025 earnings released: EPS: NT$0.03 (vs NT$0.50 in FY 2024) Full year 2025 results: EPS: NT$0.03 (down from NT$0.50 in FY 2024). Revenue: NT$1.07b (down 8.2% from FY 2024). Net income: NT$9.21m (down 94% from FY 2024). Profit margin: 0.9% (down from 14% in FY 2024). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 10% per year. Declared Dividend • Mar 11
Dividend of NT$0.80 announced Dividend of NT$0.80 is the same as last year. Ex-date: 26th March 2026 Payment date: 24th April 2026 Dividend yield will be 6.0%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is not covered by earnings (482% earnings payout ratio) nor is it adequately covered by cash flows (92% cash payout ratio). The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 435% to bring the payout ratio under control. However, EPS has declined by 42% over the last 5 years so the company would need to reverse this trend. Buy Or Sell Opportunity • Mar 09
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at NT$12.15. The fair value is estimated to be NT$15.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 19%. Buy Or Sell Opportunity • Dec 03
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.5% to NT$12.40. The fair value is estimated to be NT$15.54, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 19%. Buy Or Sell Opportunity • Nov 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.8% to NT$12.40. The fair value is estimated to be NT$15.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 19%. Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: NT$0.11 (vs NT$0.10 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.11 (up from NT$0.10 in 3Q 2024). Revenue: NT$254.8m (down 8.1% from 3Q 2024). Net income: NT$36.7m (up 10.0% from 3Q 2024). Profit margin: 14% (up from 12% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 19% 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. Reported Earnings • Aug 17
Second quarter 2025 earnings released: NT$0.14 loss per share (vs NT$0.15 profit in 2Q 2024) Second quarter 2025 results: NT$0.14 loss per share (down from NT$0.15 profit in 2Q 2024). Revenue: NT$279.8m (down 7.5% from 2Q 2024). Net loss: NT$44.7m (down 194% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Reported Earnings • May 19
First quarter 2025 earnings released: EPS: NT$0.12 (vs NT$0.18 in 1Q 2024) First quarter 2025 results: EPS: NT$0.12 (down from NT$0.18 in 1Q 2024). Revenue: NT$283.3m (flat on 1Q 2024). Net income: NT$38.9m (down 32% from 1Q 2024). Profit margin: 14% (down from 20% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Apr 27
China Electric Mfg. Corporation to Report Q1, 2025 Results on May 05, 2025 China Electric Mfg. Corporation 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 16% After last week's 16% share price decline to NT$12.20, the stock trades at a trailing P/E ratio of 24.5x. Average trailing P/E is 17x in the Electrical industry in Taiwan. Total loss to shareholders of 26% over the past three years. New Risk • Mar 27
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 161% Cash payout ratio: 125% Dividend yield: 5.1% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 161% Cash payout ratio: 125% Earnings have declined by 37% per year over the past 5 years. Upcoming Dividend • Mar 19
Upcoming dividend of NT$0.80 per share Eligible shareholders must have bought the stock before 26 March 2025. Payment date: 24 April 2025. Payout ratio and cash payout ratio are on the higher end at 96% and 78% respectively. Trailing yield: 3.1%. Lower than top quartile of Taiwanese dividend payers (4.5%). Higher than average of industry peers (2.6%). Reported Earnings • Mar 15
Full year 2024 earnings released: EPS: NT$0.50 (vs NT$0.46 in FY 2023) Full year 2024 results: EPS: NT$0.50 (up from NT$0.46 in FY 2023). Revenue: NT$1.16b (down 15% from FY 2023). Net income: NT$160.6m (up 7.4% from FY 2023). Profit margin: 14% (up from 11% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 24% 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. Announcement • Feb 22
China Electric Mfg. Corporation to Report Fiscal Year 2024 Results on Mar 03, 2025 China Electric Mfg. Corporation announced that they will report fiscal year 2024 results on Mar 03, 2025 Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.10 (vs NT$0.13 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.10 (down from NT$0.13 in 3Q 2023). Revenue: NT$277.3m (down 19% from 3Q 2023). Net income: NT$33.3m (down 20% from 3Q 2023). Profit margin: 12% (in line with 3Q 2023). 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 5% per year, which means it is well ahead of earnings. Announcement • Oct 25
China Electric Mfg. Corporation to Report Q3, 2024 Results on Nov 04, 2024 China Electric Mfg. Corporation announced that they will report Q3, 2024 results on Nov 04, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.15 (vs NT$0.12 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.15 (up from NT$0.12 in 2Q 2023). Revenue: NT$302.7m (down 2.4% from 2Q 2023). Net income: NT$47.4m (up 26% from 2Q 2023). Profit margin: 16% (up from 12% in 2Q 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 24% 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 18% After last week's 18% share price decline to NT$15.90, the stock trades at a trailing P/E ratio of 30.7x. Average trailing P/E is 25x in the Electrical industry in Taiwan. Total returns to shareholders of 62% over the past three years. Buy Or Sell Opportunity • Aug 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to NT$15.90. The fair value is estimated to be NT$20.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has grown by 4.1%. Announcement • Jul 27
China Electric Mfg. Corporation to Report Q2, 2024 Results on Aug 05, 2024 China Electric Mfg. Corporation announced that they will report Q2, 2024 results on Aug 05, 2024 Buy Or Sell Opportunity • Jul 17
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to NT$21.30. The fair value is estimated to be NT$17.65, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has grown by 4.1%. Upcoming Dividend • May 31
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 07 June 2024. Payment date: 05 July 2024. Payout ratio is on the higher end at 96%, however this is supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Taiwanese dividend payers (4.3%). Higher than average of industry peers (2.5%). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.18 (vs NT$0.12 in 1Q 2023) First quarter 2024 results: EPS: NT$0.18 (up from NT$0.12 in 1Q 2023). Revenue: NT$283.9m (down 14% from 1Q 2023). Net income: NT$57.1m (up 44% from 1Q 2023). Profit margin: 20% (up from 12% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • May 08
Dividend increased to NT$0.50 Dividend of NT$0.50 is 67% higher than last year. Ex-date: 7th June 2024 Payment date: 5th July 2024 Dividend yield will be 2.8%, which is lower than the industry average of 3.1%. Sustainability & Growth Dividend is not covered by earnings (108% earnings payout ratio). However, it is covered by cash flows (66% cash payout ratio). The dividend has increased by an average of 7.3% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 20% to bring the payout ratio under control, which is more than the 17% EPS growth achieved over the last 5 years. Buy Or Sell Opportunity • May 07
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 10% to NT$17.75. The fair value is estimated to be NT$14.64, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Earnings per share has grown by 11%. Announcement • Apr 28
China Electric Mfg. Corporation to Report Q1, 2024 Results on May 06, 2024 China Electric Mfg. Corporation announced that they will report Q1, 2024 results on May 06, 2024 Buy Or Sell Opportunity • Apr 17
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 8.7% to NT$18.10. The fair value is estimated to be NT$14.77, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Earnings per share has grown by 11%. New Risk • Mar 17
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 35% 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 18% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (108% payout ratio). Large one-off items impacting financial results. Reported Earnings • Mar 13
Full year 2023 earnings released: EPS: NT$0.46 (vs NT$0.24 in FY 2022) Full year 2023 results: EPS: NT$0.46 (up from NT$0.24 in FY 2022). Revenue: NT$1.36b (down 13% from FY 2022). Net income: NT$149.6m (up 93% from FY 2022). Profit margin: 11% (up from 4.9% in FY 2022). The increase in margin was driven by lower 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 8% per year. Announcement • Mar 05
China Electric Mfg. Corporation, Annual General Meeting, May 30, 2024 China Electric Mfg. Corporation, Annual General Meeting, May 30, 2024. Location: Conference Room CR405, Howard Plaza Hotel Taipei 4th Floor, No. 160, Section 3, Renai Road, Daan District,Taipei City Taipei Taiwan Agenda: To consider the Business overview report for the year 2023; to 2023 Audit Committee Audit Report; to Report on the distribution of employees and directors' remuneration for the year 2023; to 2023 Annual Surplus Distribution Cash Dividend Situation Report; to The 2023 business report and financial statement proposal; to Earnings Distribution Proposal for 2023; and to consider other matters if any. New Risk • Nov 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% 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 23% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (9.8% net profit margin). New Risk • Aug 17
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 25% 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 24% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.7% net profit margin). Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: NT$0.12 (vs NT$0.066 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.12 (up from NT$0.066 in 2Q 2022). Revenue: NT$310.2m (down 21% from 2Q 2022). Net income: NT$37.8m (up 78% from 2Q 2022). Profit margin: 12% (up from 5.4% in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$21.00, the stock trades at a trailing P/E ratio of 72.5x. Average trailing P/E is 17x in the Electrical industry in Taiwan. Total returns to shareholders of 88% over the past three years. Upcoming Dividend • Jun 12
Upcoming dividend of NT$0.30 per share at 1.7% yield Eligible shareholders must have bought the stock before 19 June 2023. Payment date: 14 July 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 1.7%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (3.0%). Announcement • Jun 02
China Electric Mfg. Corporation Announces Change of the Chairperson China Electric Mfg. Corporation announced the change of the chairperson. Name of the previous position holder is Liu Jianzhi. Name of the new position holder is Liao Minghui. Resume of the new position holder is Director of China Electric MFG.CORP. Effective date of the new appointment is June 1, 2023. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$16.30, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 14x in the Electrical industry in Taiwan. Total returns to shareholders of 71% over the past three years. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.05 (vs NT$0.093 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.05 (down from NT$0.093 in 3Q 2021). Revenue: NT$392.5m (down 7.9% from 3Q 2021). Net income: NT$17.4m (down 42% from 3Q 2021). Profit margin: 4.4% (down from 7.0% in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent There are 12 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 12 new directors. No experienced directors. No highly experienced directors. 3 independent directors (9 non-independent directors). Chairman Jianzhi Liu is the most experienced director on the board, commencing their role in 2022. Independent Director Xianjie Xie was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.05 (vs NT$0.093 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.05 (down from NT$0.093 in 3Q 2021). Revenue: NT$392.5m (down 7.9% from 3Q 2021). Net income: NT$17.4m (down 42% from 3Q 2021). Profit margin: 4.4% (down from 7.0% in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 14
Upcoming dividend of NT$0.80 per share Eligible shareholders must have bought the stock before 21 July 2022. Payment date: 08 August 2022. Payout ratio is on the higher end at 93%, however this is supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (6.8%). In line with average of industry peers (3.8%). Announcement • Jul 08
China Electric Mfg. Corporation Announces New Members of the 6Th Salary and Remuneration Committee China Electric Mfg. Corporation announced that Independent Director: Zhang Shaobin and Independent Director: Zhang Qingtian has appointed to new members of the Salary and Remuneration Committee. Effective date of the new member: 06 July 2022. The company also announced that Independent Director: Li Mengxiu has been not in the Salary and Remuneration Committee. Announcement • Jun 15
China Electric Mfg. Corporation Announces Board Changes China Electric Mfg. Corporation announced reassignment of the legal representative of the company's corporate directors. Name of the previous position holder: Liao Nianqi. Resume of the previous position holder: Director of China Electric MFG.CORP. Name of the new position holder: Lin Dasheng. Resume of the new position holder: Director of China Electric MFG.CORP. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment improved over the past week After last week's 17% share price gain to NT$21.00, the stock trades at a trailing P/E ratio of 24.5x. Average trailing P/E is 15x in the Electrical industry in Taiwan. Total returns to shareholders of 154% over the past three years. Reported Earnings • May 19
First quarter 2022 earnings released: EPS: NT$0.07 (vs NT$0.082 in 1Q 2021) First quarter 2022 results: EPS: NT$0.07 (down from NT$0.082 in 1Q 2021). Revenue: NT$391.9m (down 15% from 1Q 2021). Net income: NT$23.6m (down 11% from 1Q 2021). Profit margin: 6.0% (up from 5.7% in 1Q 2021). 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 15% per year, which means it is well ahead of earnings. Announcement • May 04
China Electric Mfg. Corporation Appoints Yan Yifeng as Chief Financial Officer China Electric Mfg. Corporation appoints Yan Yifeng Chief Financial Officer, as Chief financial officer, Effective May 3, 2022. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. No highly experienced directors. 3 independent directors (8 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: NT$0.86 (vs NT$0.23 in FY 2020) Full year 2021 results: EPS: NT$0.86 (up from NT$0.23 in FY 2020). Revenue: NT$1.78b (down 14% from FY 2020). Net income: NT$279.1m (up 255% from FY 2020). Profit margin: 16% (up from 3.8% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS NT$0.09 (vs NT$0.07 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: NT$426.1m (down 17% from 3Q 2020). Net income: NT$29.9m (up 28% from 3Q 2020). Profit margin: 7.0% (up from 4.5% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 08
Upcoming dividend of NT$0.30 per share Eligible shareholders must have bought the stock before 15 September 2021. Payment date: 15 October 2021. Trailing yield: 3.0%. Lower than top quartile of Taiwanese dividend payers (5.2%). In line with average of industry peers (3.3%). Reported Earnings • Aug 18
Second quarter 2021 earnings released: NT$0.07 loss per share (vs NT$0.08 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: NT$421.3m (down 17% from 2Q 2020). Net loss: NT$22.5m (down 187% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.08 (vs NT$0.052 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: NT$460.8m (down 19% from 1Q 2020). Net income: NT$26.4m (up 59% from 1Q 2020). Profit margin: 5.7% (up from 2.9% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 10% per year. Valuation Update With 7 Day Price Move • May 05
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$12.55, the stock trades at a trailing P/E ratio of 54.7x. Average trailing P/E is 19x in the Electrical industry in Taiwan. Total returns to shareholders of 23% over the past three years. Reported Earnings • Apr 01
Full year 2020 earnings released: EPS NT$0.23 (vs NT$2.36 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$2.07b (down 12% from FY 2019). Net income: NT$78.6m (down 90% from FY 2019). Profit margin: 3.8% (down from 32% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 6% per year. Announcement • Mar 05
China Electric Mfg. Corporation, Annual General Meeting, May 27, 2021 China Electric Mfg. Corporation, Annual General Meeting, May 27, 2021. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 20% share price gain to NT$14.30, the stock is trading at a trailing P/E ratio of 5.7x, up from the previous P/E ratio of 4.8x. This compares to an average P/E of 16x in the Electrical industry in Taiwan. Total returns to shareholders over the past three years are 66%. Is New 90 Day High Low • Dec 21
New 90-day high: NT$12.30 The company is up 5.0% from its price of NT$11.70 on 22 September 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 Electrical industry, which is also up 5.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.07 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$514.7m (down 13% from 3Q 2019). Net income: NT$23.3m (up NT$49.2m from 3Q 2019). Profit margin: 4.5% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 30
New 90-day low: NT$10.85 The company is down 11% from its price of NT$12.22 on 31 July 2020. The Taiwanese market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 14% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: NT$11.50 The company is down 11% from its price of NT$12.89 on 24 June 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 12% over the same period. 
