New Risk • May 11
New major risk - Revenue and earnings growth Earnings have declined by 12% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Reported Earnings • May 11
First quarter 2026 earnings released: NT$0.34 loss per share (vs NT$0.33 loss in 1Q 2025) First quarter 2026 results: NT$0.34 loss per share (further deteriorated from NT$0.33 loss in 1Q 2025). Revenue: NT$2.10b (down 7.2% from 1Q 2025). Net loss: NT$145.0m (loss widened 2.9% from 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Announcement • Mar 13
Phihong Technology Co., Ltd., Annual General Meeting, Jun 11, 2026 Phihong Technology Co., Ltd., Annual General Meeting, Jun 11, 2026. Location: 3 floor no,2, fu hsing 1st rd., gueishan district, taoyuan city Taiwan Reported Earnings • Mar 13
Full year 2025 earnings released: NT$1.48 loss per share (vs NT$0.48 profit in FY 2024) Full year 2025 results: NT$1.48 loss per share (down from NT$0.48 profit in FY 2024). Revenue: NT$9.80b (down 10% from FY 2024). Net loss: NT$634.7m (down 408% from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. New Risk • Sep 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 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. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 14
Second quarter 2025 earnings released: NT$0.77 loss per share (vs NT$0.10 profit in 2Q 2024) Second quarter 2025 results: NT$0.77 loss per share (down from NT$0.10 profit in 2Q 2024). Revenue: NT$2.42b (down 7.1% from 2Q 2024). Net loss: NT$328.0m (down NT$373.2m from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 16% per year. Announcement • Jun 11
Phihong Technology Co., Ltd. Appoints Chen Chun-Cheng as Director, Effective June 10, 2025 Phihong Technology Co., Ltd. appointed Chen Chun-Cheng, Vice President,Zerova Technologies Taiwan Limited as Director, effective June 10, 2025. Reported Earnings • May 14
First quarter 2025 earnings released: NT$0.33 loss per share (vs NT$0.16 profit in 1Q 2024) First quarter 2025 results: NT$0.33 loss per share (down from NT$0.16 profit in 1Q 2024). Revenue: NT$2.26b (down 3.6% from 1Q 2024). Net loss: NT$140.9m (down 310% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • May 06
Phihong Technology Co., Ltd. to Report Q1, 2025 Results on May 13, 2025 Phihong Technology Co., Ltd. announced that they will report Q1, 2025 results on May 13, 2025 Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to NT$25.45, the stock trades at a trailing P/E ratio of 53.2x. Average trailing P/E is 18x in the Electrical industry in Taiwan. Total loss to shareholders of 39% over the past three years. New Risk • Apr 10
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 8.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$26.60, the stock trades at a trailing P/E ratio of 55.6x. Average trailing P/E is 21x in the Electrical industry in Taiwan. Total loss to shareholders of 41% over the past three years. Announcement • Mar 12
Phihong Technology Co., Ltd., Annual General Meeting, Jun 10, 2025 Phihong Technology Co., Ltd., Annual General Meeting, Jun 10, 2025. Location: 3 floor no,2, fu hsing 1st rd., gueishan district, taoyuan city Taiwan Announcement • Mar 04
Phihong Technology Co., Ltd. to Report Fiscal Year 2024 Results on Mar 11, 2025 Phihong Technology Co., Ltd. announced that they will report fiscal year 2024 results on Mar 11, 2025 Announcement • Dec 26
Phihong Technology Co., Ltd. Announces Executive Changes, Effective from January 1, 2025 Phihong Technology Co., Ltd. announced change of corporate governance officer. Name, title, and resume of the previous position holder: Lin,Yang-Hong/general manager Group General Manager& Director& Corporate Governance Officer; Name, title, and resume of the new position holder: Lin, Kuan-Hong/general manager deputy general manager of Intelligent Power Solution BU.& special assistant of Manufacturing Center. Effective date: January 1, 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. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 09
Third quarter 2024 earnings released: EPS: NT$0.24 (vs NT$0.27 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.24. Revenue: NT$2.96b (down 14% from 3Q 2023). Net income: NT$104.8m (up 2.5% from 3Q 2023). Profit margin: 3.5% (up from 3.0% in 3Q 2023). The increase in margin was driven by lower expenses. Announcement • Oct 30
Phihong Technology Co., Ltd. to Report Q3, 2024 Results on Nov 06, 2024 Phihong Technology Co., Ltd. announced that they will report Q3, 2024 results on Nov 06, 2024 Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: NT$0.10 (vs NT$0.31 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.10 (down from NT$0.31 in 2Q 2023). Revenue: NT$2.60b (down 19% from 2Q 2023). Net income: NT$45.2m (down 62% from 2Q 2023). Profit margin: 1.7% (down from 3.7% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Aug 13
Phihong Technology Co., Ltd. Announces Remuneration Committee and Nominating Committee Changes Phihong Technology Co., Ltd. announced a New Member of Remuneration Committee and Nominating Committee. Name of the previous position holder: Chu-Sheng Fu, Attorney of Law, Jansen Law Office. Name of the new position holder: KANG HUI MEI, CEO of Lafresh Info. Co. Ltd. Preident of Fune-I Investment company. Effective date of the new member on August 12, 2024. Announcement • Aug 05
Phihong Technology Co., Ltd. to Report Q2, 2024 Results on Aug 12, 2024 Phihong Technology Co., Ltd. announced that they will report Q2, 2024 results on Aug 12, 2024 Reported Earnings • May 10
First quarter 2024 earnings released: EPS: NT$0.16 (vs NT$0.12 in 1Q 2023) First quarter 2024 results: EPS: NT$0.16 (up from NT$0.12 in 1Q 2023). Revenue: NT$2.34b (down 16% from 1Q 2023). Net income: NT$67.1m (up 53% from 1Q 2023). Profit margin: 2.9% (up from 1.6% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • May 02
Phihong Technology Co., Ltd. to Report Q1, 2024 Results on May 08, 2024 Phihong Technology Co., Ltd. announced that they will report Q1, 2024 results on May 08, 2024 Reported Earnings • Mar 09
Full year 2023 earnings released: EPS: NT$0.68 (vs NT$0.19 in FY 2022) Full year 2023 results: EPS: NT$0.68 (up from NT$0.19 in FY 2022). Revenue: NT$12.3b (down 12% from FY 2022). Net income: NT$262.6m (up 268% from FY 2022). Profit margin: 2.1% (up from 0.5% 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 105% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Announcement • Mar 08
Phihong Technology Co., Ltd., Annual General Meeting, Jun 12, 2024 Phihong Technology Co., Ltd., Annual General Meeting, Jun 12, 2024. Location: Fullon Hotel Taoyuan Airport Access MRT A8 3F.,No.2,Fuxing 1st Rd.,Guishan Dist. Taoyuan City Taiwan Agenda: To report the business of 2023 and Audit Committee's 2023 review report; to revise regulations governing procedure for Board of Directors Meetings; to report 2023 employees' profit sharing and directors' compensation; and to consider other matters. New Risk • Oct 28
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 5.7% 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 Share price has been volatile over the past 3 months (5.7% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Announcement • Sep 01
Phihong Technology Co., Ltd. Announces Resignation of Chu-Sheng Fu as Independent Director in Audit Committee, Remuneration Committee and Nominating Committee Phihong Technology Co., Ltd. announced resignation of Chu-Sheng Fu as Independent Director in Audit Committee, Remuneration Committee and Nominating Committee. Resume of the previous position holder: Attorney of Law, Jansen Law Office. The company received the resignation on August 31,2023, and the effective date of resignation is September 1,2023. New Risk • Aug 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: NT$0.31 (vs NT$0.19 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.31 (up from NT$0.19 in 2Q 2022). Revenue: NT$3.19b (down 5.8% from 2Q 2022). Net income: NT$117.8m (up 68% from 2Q 2022). Profit margin: 3.7% (up from 2.1% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has increased by 90% per year, which means it is tracking significantly ahead of earnings growth. 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. 9 non-independent directors. Independent Director Yu-Yuan Hung was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 06
Third quarter 2022 earnings released: EPS: NT$0.06 (vs NT$0.047 loss in 3Q 2021) Third quarter 2022 results: EPS: NT$0.06 (up from NT$0.047 loss in 3Q 2021). Revenue: NT$3.80b (up 21% from 3Q 2021). Net income: NT$24.2m (up NT$40.1m from 3Q 2021). Profit margin: 0.6% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 62% per year, which means it is well ahead of earnings. Reported Earnings • Aug 07
Second quarter 2022 earnings released: EPS: NT$0.19 (vs NT$0.33 loss in 2Q 2021) Second quarter 2022 results: EPS: NT$0.19 (up from NT$0.33 loss in 2Q 2021). Revenue: NT$3.39b (up 20% from 2Q 2021). Net income: NT$70.0m (up NT$181.4m from 2Q 2021). Profit margin: 2.1% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 66% per year, which means it is well ahead of earnings. Announcement • Jun 09
Phihong Technology Co., Ltd. Announces Board Changes Phihong Technology Co., Ltd. announced additional directors at the company's ordinary shareholders' meeting. Elected or changed position: institutional director. Title and name of the new position holder: Institutional director,Taiwan Cement Corporation Representative: Wang, Chien-Chuan Institutional director,Kuan Feng Investment Ltd. Representative: Yang, Shih-Hsiung. Circumstances of change: new appointment. Effective date of the new appointment is June 8, 2022. Reported Earnings • May 11
First quarter 2022 earnings released: NT$0.21 loss per share (vs NT$0.51 loss in 1Q 2021) First quarter 2022 results: NT$0.21 loss per share (up from NT$0.51 loss in 1Q 2021). Revenue: NT$2.97b (up 17% from 1Q 2021). Net loss: NT$80.4m (loss narrowed 53% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 59% per year, which means it is well ahead of earnings. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 7 highly experienced directors. 3 independent directors (7 non-independent directors). Independent Director Yu-Yuan Hung was the last independent director to join the board, commencing their role in 2017. 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 • Mar 14
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: NT$0.92 loss per share (down from NT$0.46 loss in FY 2020). Revenue: NT$12.3b (up 33% from FY 2020). Net loss: NT$312.6m (loss widened 102% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 58% per year, which means it is well ahead of earnings. Reported Earnings • Nov 07
Third quarter 2021 earnings released: NT$0.05 loss per share (vs NT$0.059 profit in 3Q 2020) The company reported a soft third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: NT$3.14b (up 25% from 3Q 2020). Net loss: NT$15.9m (down 180% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 59% per year, which means it is well ahead of earnings. Reported Earnings • Aug 09
Second quarter 2021 earnings released: NT$0.33 loss per share (vs NT$0.10 loss in 2Q 2020) The company reported a soft second quarter result with increased losses and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: NT$2.82b (up 15% from 2Q 2020). Net loss: NT$111.4m (loss widened 227% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 08
First quarter 2021 earnings released: NT$0.51 loss per share (vs NT$0.48 loss in 1Q 2020) The company reported a solid first quarter result with improved revenues and control over costs, although losses increased. First quarter 2021 results: Revenue: NT$2.54b (up 59% from 1Q 2020). Net loss: NT$170.5m (loss widened 5.6% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 10
Phihong Technology Co., Ltd., Annual General Meeting, Jun 16, 2021 Phihong Technology Co., Ltd., Annual General Meeting, Jun 16, 2021. Reported Earnings • Mar 09
Full year 2020 earnings released: NT$0.46 loss per share (vs NT$0.11 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: NT$9.24b (down 14% from FY 2019). Net loss: NT$154.6m (loss widened 305% from FY 2019). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Mar 02
New 90-day high: NT$19.45 The company is up 33% from its price of NT$14.60 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 Electrical industry, which is up 10.0% over the same period. Is New 90 Day High Low • Jan 11
New 90-day high: NT$18.25 The company is up 75% from its price of NT$10.40 on 13 October 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 9.0% over the same period. Is New 90 Day High Low • Dec 14
New 90-day high: NT$16.20 The company is up 60% from its price of NT$10.15 on 15 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 6.0% over the same period. Is New 90 Day High Low • Nov 27
New 90-day high: NT$12.60 The company is up 31% from its price of NT$9.61 on 28 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 7.0% over the same period. Reported Earnings • Nov 12
Third quarter 2020 earnings released: EPS NT$0.06 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$2.52b (down 5.6% from 3Q 2019). Net income: NT$19.9m (down 66% from 3Q 2019). Profit margin: 0.8% (down from 2.2% in 3Q 2019). The decrease in margin was driven by lower revenue. 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 3% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 15
New 90-day high: NT$12.40 The company is up 38% from its price of NT$9.01 on 17 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 11% over the same period.