New Risk • May 21
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: 0.8% Last year net profit margin: 3.4% 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 Profit margins are more than 30% lower than last year (0.8% net profit margin). Market cap is less than US$100m (NT$1.88b market cap, or US$59.4m). Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$23.45, the stock trades at a trailing P/E ratio of 38.2x. Average trailing P/E is 30x in the Electrical industry in Taiwan. Total returns to shareholders of 43% over the past three years. Reported Earnings • Mar 17
Full year 2025 earnings released: EPS: NT$0.61 (vs NT$0.50 in FY 2024) Full year 2025 results: EPS: NT$0.61 (up from NT$0.50 in FY 2024). Revenue: NT$1.60b (down 1.7% from FY 2024). Net income: NT$59.4m (up 23% from FY 2024). Profit margin: 3.7% (up from 3.0% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Mar 11
Powertech Industrial Co., Ltd., Annual General Meeting, May 25, 2026 Powertech Industrial Co., Ltd., Annual General Meeting, May 25, 2026, at 09:00 Taipei Standard Time. Location: 10 floor no,407, sec.2 chung shan rd., jhonghe district, new taipei city Taiwan Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$24.90, the stock trades at a trailing P/E ratio of 21.1x. Average trailing P/E is 23x in the Electrical industry in Taiwan. Total returns to shareholders of 55% over the past three years. Reported Earnings • Nov 18
Third quarter 2025 earnings released: EPS: NT$0.01 (vs NT$0.043 loss in 3Q 2024) Third quarter 2025 results: EPS: NT$0.01 (up from NT$0.043 loss in 3Q 2024). Revenue: NT$377.7m (down 5.8% from 3Q 2024). Net income: NT$1.15m (up NT$5.31m from 3Q 2024). Profit margin: 0.3% (up from net loss in 3Q 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: NT$0.57 (vs NT$0.013 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.57 (up from NT$0.013 in 2Q 2024). Revenue: NT$439.6m (up 15% from 2Q 2024). Net income: NT$54.9m (up NT$53.6m from 2Q 2024). Profit margin: 13% (up from 0.3% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Aug 15
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 25% to NT$26.10. The fair value is estimated to be NT$20.64, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 26% over the last 3 years. Meanwhile, the company has become profitable. Announcement • May 29
Powertech Industrial Co., Ltd. Approves Board Elections Powertech Industrial Co., Ltd. at its 2025 Annual General Shareholders' Meeting held on May 28, 2025, approved the election of Directors: Chou,Yi-Hsiung, Huang,Ker-Jer and Lee,Tian-Shyug and Independent Director: Lee, Ahyee. Reported Earnings • May 16
First quarter 2025 earnings released: EPS: NT$0.11 (vs NT$0.039 in 1Q 2024) First quarter 2025 results: EPS: NT$0.11 (up from NT$0.039 in 1Q 2024). Revenue: NT$379.2m (down 2.0% from 1Q 2024). Net income: NT$10.6m (up 177% from 1Q 2024). Profit margin: 2.8% (up from 1.0% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • May 01
Powertech Industrial Co., Ltd. to Report Q1, 2025 Results on May 09, 2025 Powertech Industrial Co., Ltd. announced that they will report Q1, 2025 results on May 09, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$19.45, the stock trades at a trailing P/E ratio of 38.9x. Average trailing P/E is 17x in the Electrical industry in Taiwan. Total returns to shareholders of 27% over the past three years. New Risk • Apr 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 32% 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 19% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (NT$2.34b market cap, or US$70.5m). Reported Earnings • Mar 18
Full year 2024 earnings released: EPS: NT$0.50 (vs NT$0.91 loss in FY 2023) Full year 2024 results: EPS: NT$0.50 (up from NT$0.91 loss in FY 2023). Revenue: NT$1.62b (up 9.0% from FY 2023). Net income: NT$48.4m (up NT$136.1m from FY 2023). Profit margin: 3.0% (up from net loss in FY 2023). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Mar 14
Powertech Industrial Co., Ltd., Annual General Meeting, May 28, 2025 Powertech Industrial Co., Ltd., Annual General Meeting, May 28, 2025, at 09:00 Taipei Standard Time. Location: 10 floor no,407, sec.2 chung shan rd., jhonghe district, new taipei city Taiwan Announcement • Mar 13
Powertech Industrial Co., Ltd. Appoints Yeh,Yun-Fang as Chief Internal Auditor Powertech Industrial Co., Ltd. appoints YEH,YUN-FANG as Chief internal auditor Effective date: March 12, 2025. The appointment of chief internal auditor has been approved by the Board of Directors of the company on March 12, 2025. New Risk • Dec 11
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: Major Risk Earnings have declined by 37% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.5% average weekly change). Reported Earnings • Nov 19
Third quarter 2024 earnings released: NT$0.04 loss per share (vs NT$0.039 profit in 3Q 2023) Third quarter 2024 results: NT$0.04 loss per share (down from NT$0.039 profit in 3Q 2023). Revenue: NT$401.1m (down 6.7% from 3Q 2023). Net loss: NT$4.16m (down 211% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.01 (vs NT$0.43 loss in 2Q 2023) Second quarter 2024 results: EPS: NT$0.01 (up from NT$0.43 loss in 2Q 2023). Revenue: NT$382.7m (up 25% from 2Q 2023). Net income: NT$1.24m (up NT$42.4m from 2Q 2023). Profit margin: 0.3% (up from net loss in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Aug 03
Powertech Industrial Co., Ltd. to Report Q2, 2024 Results on Aug 12, 2024 Powertech Industrial Co., Ltd. announced that they will report Q2, 2024 results on Aug 12, 2024 New Risk • Jul 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.8% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.8% average weekly change). Earnings have declined by 59% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$2.86b market cap, or US$88.1m). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.04 (vs NT$0.46 loss in 1Q 2023) First quarter 2024 results: EPS: NT$0.04 (up from NT$0.46 loss in 1Q 2023). Revenue: NT$386.8m (up 6.5% from 1Q 2023). Net income: NT$3.82m (up NT$48.2m from 1Q 2023). Profit margin: 1.0% (up from net loss in 1Q 2023). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Apr 28
Powertech Industrial Co., Ltd. to Report Q1, 2024 Results on May 06, 2024 Powertech Industrial Co., Ltd. announced that they will report Q1, 2024 results on May 06, 2024 Reported Earnings • Mar 20
Full year 2023 earnings released: NT$0.91 loss per share (vs NT$0.69 loss in FY 2022) Full year 2023 results: NT$0.91 loss per share (further deteriorated from NT$0.69 loss in FY 2022). Revenue: NT$1.49b (down 42% from FY 2022). Net loss: NT$87.7m (loss widened 31% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Mar 12
Powertech Industrial Co., Ltd., Annual General Meeting, Jun 07, 2024 Powertech Industrial Co., Ltd., Annual General Meeting, Jun 07, 2024. Location: 10F., No.407, Sec. 2, Zhongshan Rd., Zhonghe Dist., New Taipei City 235, Taiwan (R.O.C.)(Meeting Room 107) New Taipei City Taiwan Agenda: To consider 2023 Business Report; Supervisor Audit Report on the 2023 Financial Statements; Report on the financial transactions between the Company and related persons; Adoption of the 2023 Business Report and Financial Statements; Adoption of the Proposal for Compensation of 2023 Deficit. New Risk • Jan 23
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 5.4% 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: Major Risk Earnings have declined by 64% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.4% average weekly change). Market cap is less than US$100m (NT$2.23b market cap, or US$70.9m). Reported Earnings • Aug 12
Second quarter 2023 earnings released: NT$0.43 loss per share (vs NT$0.15 profit in 2Q 2022) Second quarter 2023 results: NT$0.43 loss per share (down from NT$0.15 profit in 2Q 2022). Revenue: NT$305.4m (down 59% from 2Q 2022). Net loss: NT$41.2m (down 389% from profit in 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Reported Earnings • May 11
First quarter 2023 earnings released: NT$0.46 loss per share (vs NT$0.69 loss in 1Q 2022) First quarter 2023 results: NT$0.46 loss per share (improved from NT$0.69 loss in 1Q 2022). Revenue: NT$363.1m (down 26% from 1Q 2022). Net loss: NT$44.4m (loss narrowed 34% from 1Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Board Change • Nov 16
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Shin-Rong Shiah-Hou was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.28 (vs NT$0.32 loss in 3Q 2021) Third quarter 2022 results: EPS: NT$0.28 (up from NT$0.32 loss in 3Q 2021). Revenue: NT$735.8m (down 23% from 3Q 2021). Net income: NT$26.6m (up NT$57.2m from 3Q 2021). Profit margin: 3.6% (up from net loss in 3Q 2021). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 114 percentage points per year, which is a significant difference in performance. Board Change • Nov 13
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Shin-Rong Shiah-Hou was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.15 (vs NT$0.13 loss in 2Q 2021) Second quarter 2022 results: EPS: NT$0.15 (up from NT$0.13 loss in 2Q 2021). Revenue: NT$745.7m (down 15% from 2Q 2021). Net income: NT$14.3m (up NT$27.0m from 2Q 2021). Profit margin: 1.9% (up from net loss in 2Q 2021). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 128 percentage points per year, which is a significant difference in performance. Reported Earnings • May 17
First quarter 2022 earnings released: NT$0.69 loss per share (vs NT$0.36 loss in 1Q 2021) First quarter 2022 results: NT$0.69 loss per share (down from NT$0.36 loss in 1Q 2021). Revenue: NT$488.5m (down 23% from 1Q 2021). Net loss: NT$67.1m (loss widened 94% from 1Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 116 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Zong-Pei Li was the last independent director to join the board, commencing their role in 2011. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 01
Full year 2021 earnings released: NT$1.64 loss per share (vs NT$0.42 profit in FY 2020) Full year 2021 results: NT$1.64 loss per share (down from NT$0.42 profit in FY 2020). Revenue: NT$3.19b (up 27% from FY 2020). Net loss: NT$158.3m (down 491% from profit in FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 11
Third quarter 2021 earnings released: NT$0.32 loss per share (vs NT$0.16 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$956.9m (up 28% from 3Q 2020). Net loss: NT$30.6m (down 301% from profit in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 11
Second quarter 2021 earnings released: NT$0.13 loss per share (vs NT$0.50 profit in 2Q 2020) The company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: NT$879.5m (up 28% from 2Q 2020). Net loss: NT$12.7m (down 126% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 11
Upcoming dividend of NT$0.23 per share Eligible shareholders must have bought the stock before 18 August 2021. Payment date: 07 September 2021. Trailing yield: 1.1%. Lower than top quartile of Taiwanese dividend payers (5.1%). Lower than average of industry peers (3.4%). Reported Earnings • May 13
First quarter 2021 earnings released: NT$0.36 loss per share (vs NT$0.49 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: NT$633.1m (up 102% from 1Q 2020). Net loss: NT$34.6m (loss narrowed 28% from 1Q 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 11% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improved over the past week After last week's 25% share price gain to NT$27.90, the stock trades at a trailing P/E ratio of 66.9x. Average trailing P/E is 17x in the Electrical industry in Taiwan. Total returns to shareholders of 104% over the past three years. Announcement • Mar 16
Powertech Industrial Co., Ltd., Annual General Meeting, Jun 10, 2021 Powertech Industrial Co., Ltd., Annual General Meeting, Jun 10, 2021. Location: Meeting Room 107 10F. No.407 Sec. 2 Zhongshan Rd. Zhonghe Dist. New Taipei City 235 New Taipei City Taiwan Agenda: To consider 2020 business report; to consider supervisor audit report on the 2020 financial statements; to consider rewards to employees and board of directors in 2020; to consider adoption of the 2020 business report and financial statements; to consider adoption of the proposal for distribution of 2020 profits; to consider approval of the proposal of cash distribution from capital surplus; to consider approval of the amendment to the regulations for election of directors and supervisors; and to transact other business details. Reported Earnings • Mar 16
Full year 2020 earnings released: EPS NT$0.41 (vs NT$0.27 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: NT$2.51b (down 11% from FY 2019). Net income: NT$40.5m (up 56% from FY 2019). Profit margin: 1.6% (up from 0.9% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 11% per year. Is New 90 Day High Low • Jan 04
New 90-day high: NT$17.10 The company is up 22% from its price of NT$14.05 on 06 October 2020. The Taiwanese market is up 17% 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. Is New 90 Day High Low • Dec 16
New 90-day high: NT$15.70 The company is up 4.0% from its price of NT$15.05 on 17 September 2020. The Taiwanese market is up 8.0% 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 4.0% over the same period. Is New 90 Day High Low • Nov 10
New 90-day low: NT$13.30 The company is down 9.0% from its price of NT$14.65 on 12 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 10.0% over the same period. Reported Earnings • Nov 10
Third quarter 2020 earnings released: EPS NT$0.15 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$744.8m (up 6.8% from 3Q 2019). Net income: NT$15.2m (up NT$17.9m from 3Q 2019). Profit margin: 2.0% (up from net loss in 3Q 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 8% per year, which means it is performing significantly worse than earnings. 