New Risk • Jun 02
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 91% The company is paying a dividend despite having no free cash flows. Dividend yield: 13% 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. This is currently the only risk that has been identified for the company. Reported Earnings • May 21
First quarter 2026 earnings released: NT$0.05 loss per share (vs NT$0.14 profit in 1Q 2025) First quarter 2026 results: NT$0.05 loss per share (down from NT$0.14 profit in 1Q 2025). Revenue: NT$11.5b (up 8.9% from 1Q 2025). Net loss: NT$98.5m (down 132% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 17
Full year 2025 earnings released: NT$5.20 loss per share (vs NT$6.80 profit in FY 2024) Full year 2025 results: NT$5.20 loss per share (down from NT$6.80 profit in FY 2024). Revenue: NT$50.4b (up 6.1% from FY 2024). Net loss: NT$11.1b (down 177% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 3% per year. Announcement • Mar 09
Tatung Co., Ltd., Annual General Meeting, May 26, 2026 Tatung Co., Ltd., Annual General Meeting, May 26, 2026, at 09:00 Taipei Standard Time. Location: 18 floor no,22, sec.3 chung shan n. rd., taipei city Taiwan Buy Or Sell Opportunity • Mar 04
Now 23% undervalued The stock has been flat over the last 90 days, currently trading at NT$32.20. The fair value is estimated to be NT$41.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 19%. New Risk • Jan 15
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 6.5% 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: Minor Risks Dividend is not well covered by cash flows (dividend per share is over 56x cash flows per share). Share price has been volatile over the past 3 months (6.5% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$35.65, the stock trades at a trailing P/E ratio of 8x. Average forward P/E is 23x in the Electrical industry in Taiwan. Total returns to shareholders of 12% over the past three years. Announcement • Jan 02
Tatung Company Announces Board and Committee Changes, Effective December 30, 2025 Tatung Company announced the newly appointed members and conveners of the Audit Committee, Compensation Committee, and Sustainable Development and Nomination Committee. The change occurred on December 30, 2025. The previous position holders for all three committees were Cin-Jhih Wu, Independent Director of Tatung Company and Director of ENE TECHNOLOGY INC., and Heng-Siang Wu, Independent Director of Tatung Company, Accounting firm's chief and Certified Public Accountant of Defeng United Accounting Firm. The new position holders for the Audit Committee and Compensation Committee are Jian-Cheng Chen, Chairman of DingSheng Management Consulting Company Limited and Chairman of Daniel Brothers Capital Investment Co., Ltd.; Zhong-Pei Li, Chairman of Videoland Inc. and Chairman of CITIESOCIAL Co., Ltd.; and Zhe-Liang Ye, Professor of Department of Power Mechanical Engineering, College of Engineering, National Tsing Hua University and Independent Director of Chunghwa Telecom Co., Ltd. The new position holders for the Sustainable Development and Nomination Committee are Jung-Hua Chang, Chairman of Tatung Company and Chairman of Sanlih E-Television Co., Ltd.; Ming-Hui Kao, General Manager of Sanlih E-Television Co., Ltd. and General Manager of Sanlih Culture Co., Ltd.; Jian-Cheng Chen, Chairman of DingSheng Management Consulting Company Limited and Chairman of Daniel Brothers Capital Investment Co., Ltd.; Zhong-Pei Li, Chairman of Videoland Inc. and Chairman of CITIESOCIAL Co., Ltd.; and Zhe-Liang Ye, Professor of Department of Power Mechanical Engineering, College of Engineering, National Tsing Hua University and Independent Director of Chunghwa Telecom Co., Ltd. The Audit Committee members jointly elected independent director Jian-Cheng Chen as the convener of meetings. The Compensation Committee members jointly elected independent director Zhong-Pei Li as the convener of meetings. The Sustainable Development and Nomination Committee members jointly elected independent director Zhe-Liang Ye as the convener of meetings. Announcement • Dec 31
Tatung Co., Ltd. Approves Election of Directors Tatung Company announced the list of directors elected at the second Special Shareholders' Meeting in 2025. Newly-elected: Director: Representative of Elitegroup Computer Systems Co., Ltd.: Ming-Hui Kao, Director: Representative of Sheng Yu Capital Co., Ltd.: Xing-Hua Lu, Independent Director: Zhong-Pei Li, Independent Director: Zhe-Liang Ye, Independent Director: Jian-Cheng Chen. Date of the special shareholders meeting: December 30, 2025. Buy Or Sell Opportunity • Dec 15
Now 27% undervalued after recent price drop Over the last 90 days, the stock has fallen 21% to NT$31.60. The fair value is estimated to be NT$43.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 19%. Reported Earnings • Nov 17
Third quarter 2025 earnings released: EPS: NT$0.29 (vs NT$3.26 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.29 (down from NT$3.26 in 3Q 2024). Revenue: NT$13.5b (up 11% from 3Q 2024). Net income: NT$610.5m (down 91% from 3Q 2024). Profit margin: 4.5% (down from 57% in 3Q 2024). Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Electrical industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Nov 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to NT$33.80. The fair value is estimated to be NT$42.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 25%. Buy Or Sell Opportunity • Sep 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.7% to NT$39.85. The fair value is estimated to be NT$49.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 25%. Buy Or Sell Opportunity • Aug 29
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.4% to NT$39.80. The fair value is estimated to be NT$50.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 26%. New Risk • Aug 15
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: NT$0.22 (vs NT$0.40 loss in 2Q 2024) Second quarter 2025 results: EPS: NT$0.22 (up from NT$0.40 loss in 2Q 2024). Revenue: NT$13.0b (up 2.7% from 2Q 2024). Net income: NT$468.6m (up NT$1.32b from 2Q 2024). Profit margin: 3.6% (up from net loss in 2Q 2024). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Electrical industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 01
Upcoming dividend of NT$3.11 per share Eligible shareholders must have bought the stock before 08 July 2025. Payment date: 31 July 2025. Payout ratio is a comfortable 47% but the company is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.7%). Upcoming Dividend • Jun 04
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 11 June 2025. Payment date: 30 June 2025. Payout ratio is a comfortable 46% but the company is not cash flow positive. Trailing yield: 6.9%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.3%). Reported Earnings • May 15
First quarter 2025 earnings released: EPS: NT$0.14 (vs NT$0.28 in 1Q 2024) First quarter 2025 results: EPS: NT$0.14 (down from NT$0.28 in 1Q 2024). Revenue: NT$10.5b (down 2.5% from 1Q 2024). Net income: NT$305.4m (down 53% from 1Q 2024). Profit margin: 2.9% (down from 5.9% in 1Q 2024). Revenue is forecast to grow 32% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Electrical industry in Taiwan. 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 8% per year, which means it is significantly lagging earnings growth. Announcement • May 03
Tatung Co., Ltd. to Report Q1, 2025 Results on May 12, 2025 Tatung Co., Ltd. announced that they will report Q1, 2025 results on May 12, 2025 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$34.10, the stock trades at a trailing P/E ratio of 5.1x. Average forward P/E is 14x in the Electrical industry in Taiwan. Total loss to shareholders of 3.3% over the past three years. Buy Or Sell Opportunity • Apr 08
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 26% to NT$34.10. The fair value is estimated to be NT$44.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 9.8%. Price Target Changed • Apr 02
Price target decreased by 19% to NT$47.00 Down from NT$58.00, the current price target is provided by 1 analyst. New target price is 14% above last closing price of NT$41.40. Stock is down 26% over the past year. The company posted earnings per share of NT$6.46 last year. Reported Earnings • Mar 21
Full year 2024 earnings released: EPS: NT$6.46 (vs NT$1.13 in FY 2023) Full year 2024 results: EPS: NT$6.46 (up from NT$1.13 in FY 2023). Revenue: NT$47.5b (down 5.7% from FY 2023). Net income: NT$14.5b (up 451% from FY 2023). Profit margin: 31% (up from 5.2% in FY 2023). Revenue is forecast to grow 27% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Electrical industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 7% per year. Announcement • Mar 06
Tatung Co., Ltd., Annual General Meeting, May 27, 2025 Tatung Co., Ltd., Annual General Meeting, May 27, 2025, at 09:00 Taipei Standard Time. Location: 18 floor no,22, sec.3 chung shan n. rd., taipei city Taiwan Announcement • Feb 25
Tatung Co., Ltd. to Report Q4, 2024 Results on Mar 04, 2025 Tatung Co., Ltd. announced that they will report Q4, 2024 results on Mar 04, 2025 Announcement • Jan 02
Tatung Co., Ltd. Announces Resignation of Yeh-Sha Liu as Chief Financial Officer Tatung Co., Ltd. announced the change of Chief Financial Officer. Name, Title, and Resume of the Previous Position Holder: Yeh-Sha Liu; Chief Financial Officer of Tatung Company. Reason for the change: resignation. Effective date: 31 December 2024. 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. This is currently the only risk that has been identified for the company. New Risk • Nov 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 1,420% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: NT$3.10 (vs NT$0.24 in 3Q 2023) Third quarter 2024 results: EPS: NT$3.10 (up from NT$0.24 in 3Q 2023). Revenue: NT$12.1b (up 5.9% from 3Q 2023). Net income: NT$6.95b (up NT$6.40b from 3Q 2023). Profit margin: 57% (up from 4.8% in 3Q 2023). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Electrical industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 7% per year. Announcement • Nov 06
Tatung Co., Ltd. Announces Appointment of Yeh-Sha Liu -V as Chief Financial Officer Tatung Co., Ltd. announced that the new Chief Financial Officer has been selected. Name, title, and resume of the new position holder: Yeh-Sha Liu -V President of Advanced-Connectek Inc. Reason for the change: new replacement; Effective date: November 05, 2024. Announcement • Oct 26
Tatung Co., Ltd. to Report Q3, 2024 Results on Nov 05, 2024 Tatung Co., Ltd. announced that they will report Q3, 2024 results on Nov 05, 2024 Reported Earnings • Aug 16
Second quarter 2024 earnings released: NT$0.37 loss per share (vs NT$0.25 profit in 2Q 2023) Second quarter 2024 results: NT$0.37 loss per share (down from NT$0.25 profit in 2Q 2023). Revenue: NT$12.7b (down 4.3% from 2Q 2023). Net loss: NT$855.6m (down 247% from profit in 2Q 2023). Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Electrical industry in Taiwan. 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. Announcement • Aug 03
Tatung Co., Ltd. to Report Q2, 2024 Results on Aug 12, 2024 Tatung Co., Ltd. announced that they will report Q2, 2024 results on Aug 12, 2024 Price Target Changed • Jul 24
Price target decreased by 14% to NT$57.50 Down from NT$66.50, the current price target is an average from 2 analysts. New target price is 9.7% above last closing price of NT$52.40. Stock is up 4.2% over the past year. The company posted earnings per share of NT$1.13 last year. Price Target Changed • Jun 06
Price target increased by 11% to NT$66.50 Up from NT$60.00, the current price target is an average from 2 analysts. New target price is 24% above last closing price of NT$53.80. Stock is up 33% over the past year. The company posted earnings per share of NT$1.13 last year. Announcement • Mar 12
Tatung Co., Ltd., Annual General Meeting, May 31, 2024 Tatung Co., Ltd., Annual General Meeting, May 31, 2024. Location: 22. Zhungshan N. Rd., 3rd Sec The 18nd floor of North Design Building Taipei Taiwan Agenda: To consider 2023 Annual Business and Financial Report; to consider Audit Committee's Review Report; to consider 2023 Annual Report on Staff Remuneration and Director's Remuneration Distribution; to consider resolution on ratification of the 2023 Business Report and Financial Statements; to consider Resolution on ratification of the Proposal for Distribution of 2023 Profits; to consider Amendment of the Articles of Incorporation; to consider Procedures for Endorsement & Guarantee--Current Procedures and Proposed Amendments; to release the directors (independent directors) and representative from the non-competition restrictions. Announcement • Dec 22
Tatung Co., Ltd. Appoints Chun-Lung Wu to Sustainable Development Committee Tatung Co., Ltd. appointed Chun-Lung Wu to Sustainable Development Committee, effective December 21, 2023. Announcement • Jun 30
Tatung Co., Ltd. Appoint Members to the Compensation Committee and Sustainable Development Committee Tatung Co., Ltd. announced the Compensation Committee and Sustainable Development Committee appointments. Resume of the new position holder: Compensation Committee: Ching-Lung Lee:Minister of Council of Agriculture, Executive Yuan and Chairman of Taiwan Fertilizer Co., Ltd. Cin-Jhih Wu: General manager of ALi Corporation and Chief Technology Officer of ASUSTeK Computer Inc. Heng-Siang Wu: Independent director of Alcorlink Corp. and Accounting firm's chief and Certified Public Accountant of Defeng United Accounting Firm. Sustainable Development Committee: Wkang-Hsiang Wang:Chairman of Tatung Company and Chairman of Shanyuan Co., Ltd. Chun-Lung Wu:Vice Chairman of Tatung Company and Chairman of Hsin Yeomg An Cable TV Co., Ltd. Ching-Lung Lee:Minister of Council of Agriculture, Executive Yuan and Chairman of Taiwan Fertilizer Co., Ltd. Cin-Jhih Wu:General manager of ALi Corporation and Chief Technology Officer of ASUSTeK Computer Inc. Heng-Siang Wu:Independent director of Alcorlink Corp. and Accounting firm's chief and Certified Public Accountant of Defeng United Accounting Firm. The effective date of the new members is June 29, 2023. Announcement • Jun 23
Tatung Co., Ltd. Announces on Behalf of Shan-Chih Asset Development Co. for Change of Director Tatung Co., Ltd. on behalf of Shan-Chih Asset Development Co. for change of Director. Title and name of the new position holder: Director: Representative of Tatung Company Legal Person: Kuan-Ling Lai, Director: Representative of Tatung Company Legal Person: Pei-Chun Lu. Resume of the new position holder: Chief Operating Officer of Tatung Company. General Counsel & Corporate Governance Officer of Tatung Company. Effective date of the new appointment: June 21, 2023. Announcement • Dec 23
Tatung Co., Ltd. Appoints Tzu-Hao Chao as Chief Information Security Officer Tatung Co., Ltd. appointed Tzu-Hao Chao - General Manager of Management Information System Division, Tatung Company as Chief Information Security Officer, effective December 22, 2022. Announcement • Nov 01
GBay Area Compliance Laboratories Corp entered into an agreement to acquire Central Research Technology Co. from Tatung Co., Ltd. (TWSE:2371) for TWD 32 million. GBay Area Compliance Laboratories Corp entered into an agreement to acquire Central Research Technology Co. from Tatung Co., Ltd. (TWSE:2371) for TWD 32 million on October 31, 2022. Announcement • Sep 03
Tatung Company Appoints Chin-Lai Wang as President Tatung Company appointed Chin-Lai Wang, acting President & Vice Chairman as President & Vice Chairman, effective from September 1, 2022. Announcement • Aug 23
Tatung Co., Ltd. Appoints Chin-Lai Wang as President Tatung Co., Ltd. appointed Chin-Lai Wang (Vice Chairman of Tatung Company, Vice Chairman & President of Elitegroup Computer Systems Co., Ltd.) as President of the company, effective from August 22, 2022. Name of the previous position holder: Willie Tsai. Reason for the change: appointment. Any other matters that need to be specified: Appointed Chin-Lai Wang vice chairman to act as the temporary president. Announcement • Jun 30
Tatung Co., Ltd. Announces Director Changes Tatung Co., Ltd. announced director changes. Name of the previous position holder: Director: Representative of Gindon Investment Co. Legal Person: I-Wen Chung, Resume of the previous position holder: Director of Tatung Company. Name of the new position holder: Director: Representative of Gindon Investment Co. Legal Person: Chin-Lai Wang and Resume of the new position holder: Director of Elitegroup Computer Systems Co., Ltd. Effective date of the new appointment June 29, 2022. Announcement • Jun 15
Tatung Co., Ltd. Announces Change of Member of Audit Committee Tatung Co., Ltd. announced the appointment of Independent director Chi-Husan Liu as member of audit committee. Resume of the new position holder: East West Bancorp Inc., California, USA, TransGlobe Life Insurance Inc. Alliance International Law Offices. Effective date of the new member: June 14, 2022. Announcement • Jun 06
Tatung Announces Cancellation of Admission to Trading on the London Stock Exchange At the request of Tatung Co., Ltd., the securities (Global Depositary Shares (each representing 20 shares), fully paid, (144 A) and Global Depositary Shares (each representing 20 shares), fully paid, (Regulation S)) have been cancelled from admission to trading on London Stock Exchange with effect from 08:00 on June 6, 2022. Announcement • May 08
Pacific Electric Wire & Cable Co., Ltd. agreed to acquire Chung-Tai Technology Development Engineering Corp. from Tatung Co., Ltd. (TWSE:2371) for TWD 10.7 million. Pacific Electric Wire & Cable Co., Ltd. agreed to acquire Chung-Tai Technology Development Engineering Corp. from Tatung Co., Ltd. (TWSE:2371) for TWD 10.7 million on May 6, 2022. Announcement • Apr 14
Delisting of Tatung Company GDRs from LSE In addition and further to the announcement on February 11, 2022, Tatung Co., Ltd. provided supplementary notification that cancellation of the listing of the Company's Global Depositary Receipts ("GDRs") on the London Stock Exchange will be June 6, 2022. Announcement • Feb 12
Delisting of Tatung Company GDRs from LSE Tatung Company submitted below report to the Taiwan Stock Exchange ("TWSE") through the market observation post system ("MOPS") on November 11, 2021. Till October 29, 2021, the outstanding GDR issued by TATUNG on the London Stock Exchange were 7 units (representing 146 common shares). In order to lower the relevant management costs, the Board of Directors resolved to terminate the GDR program and deposit agreement. The securities to which the cancellation of listing and trading will relate are the Regulation S and Rule 144A GDRs. Reported Earnings • Nov 16
Third quarter 2021 earnings released: EPS NT$0.32 (vs NT$0.075 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$8.06b (up 9.2% from 3Q 2020). Net income: NT$740.2m (up NT$915.9m from 3Q 2020). Profit margin: 9.2% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$0.35 (vs NT$0.072 loss in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: NT$7.41b (down 3.2% from 2Q 2020). Net income: NT$827.3m (up NT$995.6m from 2Q 2020). Profit margin: 11% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Executive Departure • Jul 13
Executive Vice President Feng-Shuh Dai has left the company On the 30th of June, Feng-Shuh Dai's tenure as Executive Vice President ended after less than a year in the role. We don't have any record of a personal shareholding under Feng-Shuh's name. A total of 9 executives have left over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • May 18
First quarter 2021 earnings released: NT$0.13 loss per share (vs NT$0.15 profit in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: NT$6.57b (down 28% from 1Q 2020). Net loss: NT$300.8m (down 188% from profit in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • May 04
Tatung Co., Ltd. announced that it has received TWD 314.031261 million in funding from CMI International Investment Corp. On May 3, 2021, Tatung Co., Ltd. (TWSE:2371) closed the transaction. Announcement • Apr 15
Tatung Co., Ltd. announced that it has received TWD 300.58 million in funding from CMI International Investment Corp. On April 14, 2021, Tatung Co., Ltd. (TSEC:2371) closed the transaction. Executive Departure • Apr 08
Executive Vice President Wen-Chieh Peng has left the company On the 1st of April, Wen-Chieh Peng's tenure as Executive Vice President ended after less than a year in the role. We don't have any record of a personal shareholding under Wen-Chieh's name. A total of 9 executives have left over the last 12 months. Reported Earnings • Apr 01
Full year 2020 earnings released: NT$0.46 loss per share (vs NT$1.25 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: NT$31.6b (down 11% from FY 2019). Net loss: NT$1.08b (down 137% from profit in FY 2019). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Executive Departure • Mar 12
Director has left the company On the 10th of March, Hung-Hsin Lin's tenure as Director ended after less than a year in the role. We don't have any record of a personal shareholding under Hung-Hsin's name. A total of 8 executives have left over the last 12 months. Is New 90 Day High Low • Mar 02
New 90-day high: NT$29.45 The company is up 40% from its price of NT$21.10 on 02 December 2020. The Taiwanese market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 12% over the same period. Announcement • Jan 22
Tatung Company Announces Appointment of Feng-Shuh Dai as Executive Vice President, Effective January 20, 2021 Tatung Company announced appointment of new executive vice president. Name, title, and resume of the new position holder is Feng-Shuh Dai who is President of Foxconn International Holdings Limited. Reason for the change is new replacement. Effective date is January 20, 2021. Announcement • Dec 30
Tatung Co., Ltd. Announces Change of Representative of Legal Person Director Tatung Co., Ltd. announced the change of representative of legal person director. Name and resume of the previous position holder: Xia-Zhen Yeh. Name and resume of the new position holder: Ching-Hsiang Lin (Consultant of Industry, Science and Technology International Strategy Center of Industrial Technology Research Institute). Date of occurrence of the change is December 28, 2020. Announcement • Dec 23
Tatung Co., Ltd. Announces Resignation of Ming-Nan Chen as CFO Effective December 1, 2020 Tatung Co., Ltd. announced resignation of Ming-Nan Chen as CFO. Effective date is December 22, 2020. Announcement • Dec 19
Tatung Co. Announces Judgement by Taiwan Taipei District Court to Remove Mrs. Wen-Yen K. Lin as Director Tatung Co. announced the judgement made by Taiwan Taipei District Court to remove Mrs. Wen-Yen K. Lin’s director position of the company. Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment improved over the past week After last week's 19% share price gain to NT$27.60, the stock is trading at a trailing P/E ratio of 34.5x, up from the previous P/E ratio of 29x. This compares to an average P/E of 16x in the Consumer Durables industry in Taiwan. Total returns to shareholders over the past three years are 56%. Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment improved over the past week After last week's 19% share price gain to NT$25.05, the stock is trading at a trailing P/E ratio of 31.3x, up from the previous P/E ratio of 26.3x. This compares to an average P/E of 16x in the Consumer Durables industry in Taiwan. Total returns to shareholders over the past three years are 38%. Is New 90 Day High Low • Dec 10
New 90-day high: NT$24.10 The company is up 53% from its price of NT$15.80 on 11 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 7.0% over the same period. Announcement • Dec 02
Tatung Co., Ltd. Announces Appointment of Chen Ming Nan as Corporate Governance Officer, Effective December 1, 2020 Tatung Co., Ltd. announced appointment of Chen Ming Nan, CFO, CFO of China Steel Chemical Corporation as Corporate governance officer. Effective date is December 1, 2020. Reported Earnings • Nov 17
Third quarter 2020 earnings released: NT$0.07 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: NT$7.38b (down 12% from 3Q 2019). Net loss: NT$175.8m (down 107% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. 
