Board Change • Jun 05
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Ainsley Hsieh was the last independent director to join the board, commencing their role in 2026. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$92.40, the stock trades at a trailing P/E ratio of 28.2x. Average trailing P/E is 29x in the Machinery industry in Taiwan. Total returns to shareholders of 48% over the past three years. Upcoming Dividend • May 26
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 02 June 2026. Payment date: 02 July 2026. Payout ratio is a comfortable 48% but the company is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (1.6%). Reported Earnings • May 16
First quarter 2026 earnings released: EPS: NT$1.00 (vs NT$1.08 in 1Q 2025) First quarter 2026 results: EPS: NT$1.00. Revenue: NT$1.74b (up 14% from 1Q 2025). Net income: NT$88.1m (up 25% from 1Q 2025). Profit margin: 5.1% (up from 4.6% in 1Q 2025). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$94.30, the stock trades at a trailing P/E ratio of 31.3x. Average trailing P/E is 31x in the Machinery industry in Taiwan. Total returns to shareholders of 50% over the past three years. Reported Earnings • Mar 28
Full year 2025 earnings released: EPS: NT$1.98 (vs NT$6.16 in FY 2024) Full year 2025 results: EPS: NT$1.98 (down from NT$6.16 in FY 2024). Revenue: NT$6.28b (up 8.2% from FY 2024). Net income: NT$202.2m (down 50% from FY 2024). Profit margin: 3.2% (down from 6.9% in FY 2024). The decrease in margin was driven by higher expenses. 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 • Mar 12
Lemtech Holdings Co., Limited, Annual General Meeting, May 29, 2026 Lemtech Holdings Co., Limited, Annual General Meeting, May 29, 2026. Location: 10 floor no,196, ching mao 2nd rd., nangang district, taipei city Taiwan Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$83.70, the stock trades at a trailing P/E ratio of 20.3x. Average trailing P/E is 26x in the Machinery industry in Taiwan. Total returns to shareholders of 21% over the past three years. Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$106, the stock trades at a trailing P/E ratio of 25.7x. Average trailing P/E is 26x in the Machinery industry in Taiwan. Total returns to shareholders of 53% over the past three years. Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$96.60, the stock trades at a trailing P/E ratio of 23.5x. Average trailing P/E is 24x in the Machinery industry in Taiwan. Total returns to shareholders of 35% over the past three years. New Risk • Dec 29
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 6.3% 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 10% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.3% average weekly change). Profit margins are more than 30% lower than last year (4.5% net profit margin). Upcoming Dividend • Dec 16
Upcoming dividend of NT$0.30 per share Eligible shareholders must have bought the stock before 23 December 2025. Payment date: 22 January 2026. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of Taiwanese dividend payers (5.4%). In line with average of industry peers (2.4%). New Risk • Nov 14
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: 4.5% Last year net profit margin: 7.9% 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: Major Risk Earnings have declined by 10% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (4.5% net profit margin). Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: NT$1.01 (vs NT$2.02 in 3Q 2024) Third quarter 2025 results: EPS: NT$1.01 (down from NT$2.02 in 3Q 2024). Revenue: NT$1.49b (down 3.6% from 3Q 2024). Net income: NT$66.0m (down 50% from 3Q 2024). Profit margin: 4.4% (down from 8.5% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 3% per year. Declared Dividend • Sep 08
Dividend of NT$0.18 announced Shareholders will receive a dividend of NT$0.18. Ex-date: 23rd September 2025 Payment date: 23rd October 2025 Dividend yield will be 1.7%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (23% earnings payout ratio) and cash flows (71% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 74% to shift the payout ratio to a potentially unsustainable range, which is more than the 1.5% EPS decline seen over the last 5 years. Reported Earnings • Aug 29
Second quarter 2025 earnings released: EPS: NT$0.64 (vs NT$1.94 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.64 (down from NT$1.94 in 2Q 2024). Revenue: NT$1.36b (down 12% from 2Q 2024). Net income: NT$41.7m (down 67% from 2Q 2024). Profit margin: 3.1% (down from 8.2% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 17
Upcoming dividend of NT$0.45 per share Eligible shareholders must have bought the stock before 23 July 2025. Payment date: 22 August 2025. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.8%). Declared Dividend • Jul 03
Dividend of NT$0.45 announced Shareholders will receive a dividend of NT$0.45. Ex-date: 23rd July 2025 Payment date: 22nd August 2025 Dividend yield will be 2.4%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (36% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 7.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • May 23
Now 21% overvalued Over the last 90 days, the stock has fallen 32% to NT$89.20. The fair value is estimated to be NT$73.91, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.7% over the last 3 years, while earnings per share has been flat. Reported Earnings • May 16
First quarter 2025 earnings released: EPS: NT$1.13 (vs NT$0.85 in 1Q 2024) First quarter 2025 results: EPS: NT$1.13 (up from NT$0.85 in 1Q 2024). Revenue: NT$1.53b (up 29% from 1Q 2024). Net income: NT$70.6m (up 33% from 1Q 2024). Profit margin: 4.6% (up from 4.5% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 3% per year. Announcement • May 03
Lemtech Holdings Co., Limited to Report Q1, 2025 Results on May 12, 2025 Lemtech Holdings Co., Limited announced that they will report Q1, 2025 results at 9:00 AM, Taipei Standard Time on May 12, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$86.70, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 17x in the Machinery industry in Taiwan. Total loss to shareholders of 41% over the past three years. Reported Earnings • Mar 23
Full year 2024 earnings released: EPS: NT$6.46 (vs NT$4.18 in FY 2023) Full year 2024 results: EPS: NT$6.46 (up from NT$4.18 in FY 2023). Revenue: NT$5.80b (up 24% from FY 2023). Net income: NT$402.0m (up 55% from FY 2023). Profit margin: 6.9% (up from 5.6% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 10% per year. Announcement • Mar 05
Lemtech Holdings Co., Limited, Annual General Meeting, May 28, 2025 Lemtech Holdings Co., Limited, Annual General Meeting, May 28, 2025, at 09:00 Taipei Standard Time. Location: 10 floor no,196, ching mao 2nd rd., nangang district, taipei city Taiwan Announcement • Feb 25
Lemtech Holdings Co., Limited to Report Fiscal Year 2024 Results on Mar 04, 2025 Lemtech Holdings Co., Limited announced that they will report fiscal year 2024 results on Mar 04, 2025 Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$122, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 20x in the Machinery industry in Taiwan. Total loss to shareholders of 17% over the past three years. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$145, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 20x in the Machinery industry in Taiwan. Total loss to shareholders of 4.3% over the past three years. New Risk • Dec 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 6.3% 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 3.1% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.3% average weekly change). Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$129, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 20x in the Machinery industry in Taiwan. Total loss to shareholders of 16% over the past three years. Upcoming Dividend • Dec 02
Upcoming dividend of NT$0.74 per share Eligible shareholders must have bought the stock before 09 December 2024. Payment date: 08 January 2025. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (4.5%). Lower than average of industry peers (2.5%). Announcement • Nov 22
Lemtech Holdings Co., Limited Announces Cash Dividend, Payable on January 08, 2025 Lemtech Holdings Co., Limited announced appropriations of earnings in cash dividends to shareholders of TWD 0.741 per share. Total amount of cash distributed to shareholders: TWD 46,085,329; Ex-rights (ex-dividend) trading date: December 09, 2024; Ex-rights (ex-dividend) record date: December 15, 2024; Payment date of common stock cash dividend distribution: January 08, 2025. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: NT$2.12 (vs NT$2.07 in 3Q 2023) Third quarter 2024 results: EPS: NT$2.12 (up from NT$2.07 in 3Q 2023). Revenue: NT$1.55b (up 4.3% from 3Q 2023). Net income: NT$131.7m (up 2.3% from 3Q 2023). Profit margin: 8.5% (down from 8.7% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 14% per year. Announcement • Nov 02
Lemtech Holdings Co., Limited to Report Q3, 2024 Results on Nov 11, 2024 Lemtech Holdings Co., Limited announced that they will report Q3, 2024 results on Nov 11, 2024 Upcoming Dividend • Sep 18
Upcoming dividend of NT$0.71 per share Eligible shareholders must have bought the stock before 24 September 2024. Payment date: 24 October 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (4.3%). Lower than average of industry peers (2.4%). Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: NT$2.04 (vs NT$0.16 in 2Q 2023) Second quarter 2024 results: EPS: NT$2.04 (up from NT$0.16 in 2Q 2023). Revenue: NT$1.54b (up 47% from 2Q 2023). Net income: NT$126.6m (up NT$116.7m from 2Q 2023). Profit margin: 8.2% (up from 0.9% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Announcement • Aug 13
Lemtech Holdings Co., Limited to Report Q2, 2024 Results on Aug 20, 2024 Lemtech Holdings Co., Limited announced that they will report Q2, 2024 results on Aug 20, 2024 Board Change • Aug 07
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. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Chi Chuan Wang was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Aug 05
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Dividend per share is over 10x cash flows per share. Dividend yield: 1.8% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 Risk Earnings have declined by 4.8% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (dividend per share is over 10x cash flows per share). Large one-off items impacting financial results. Upcoming Dividend • Jul 18
Upcoming dividend of NT$0.26 per share Eligible shareholders must have bought the stock before 25 July 2024. Payment date: 23 August 2024. Payout ratio is a comfortable 38% but the company is paying out more than the cash it is generating. Trailing yield: 1.5%. Lower than top quartile of Taiwanese dividend payers (4.2%). Lower than average of industry peers (2.4%). New Risk • Jun 05
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% 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 4.8% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$137, the stock trades at a trailing P/E ratio of 27.2x. Average trailing P/E is 20x in the Machinery industry in Taiwan. Total loss to shareholders of 3.3% over the past three years. Reported Earnings • May 13
First quarter 2024 earnings released: EPS: NT$0.85 (vs NT$0.02 in 1Q 2023) First quarter 2024 results: EPS: NT$0.85 (up from NT$0.02 in 1Q 2023). Revenue: NT$1.18b (up 27% from 1Q 2023). Net income: NT$53.1m (up NT$51.9m from 1Q 2023). Profit margin: 4.5% (up from 0.1% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 37% 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. Announcement • May 08
Lemtech Holdings Co., Limited announced a financing transaction Lemtech Holdings Co., Limited announced a private placement to issue not exceeding 5,600 shares on May 6, 2024. The transaction has been approved by the shareholders of the company. Announcement • Apr 28
Lemtech Holdings Co., Limited to Report Q1, 2024 Results on May 06, 2024 Lemtech Holdings Co., Limited announced that they will report Q1, 2024 results on May 06, 2024 Upcoming Dividend • Mar 25
Upcoming dividend of NT$0.77 per share Eligible shareholders must have bought the stock before 01 April 2024. Payment date: 30 April 2024. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Taiwanese dividend payers (4.7%). Lower than average of industry peers (2.7%). Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$131, the stock trades at a trailing P/E ratio of 31.2x. Average trailing P/E is 21x in the Machinery industry in Taiwan. Total loss to shareholders of 11% over the past three years. New Risk • Mar 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% 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 4.0% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.0% average weekly change). Large one-off items impacting financial results. Reported Earnings • Mar 13
Full year 2023 earnings released: EPS: NT$4.18 (vs NT$6.27 in FY 2022) Full year 2023 results: EPS: NT$4.18 (down from NT$6.27 in FY 2022). Revenue: NT$4.66b (down 22% from FY 2022). Net income: NT$260.1m (down 33% from FY 2022). Profit margin: 5.6% (down from 6.5% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$119, the stock trades at a trailing P/E ratio of 42.8x. Average trailing P/E is 21x in the Machinery industry in Taiwan. Total loss to shareholders of 3.2% over the past three years. Upcoming Dividend • Dec 19
Upcoming dividend of NT$0.83 per share at 4.0% yield Eligible shareholders must have bought the stock before 26 December 2023. Payment date: 25 January 2024. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of Taiwanese dividend payers (5.1%). Higher than average of industry peers (3.1%). New Risk • Dec 06
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 3.9% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining 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 Risk Earnings have declined by 1.0% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (3.7% net profit margin). Announcement • Nov 30
Lemtech Holdings Co., Limited Announces Cash Dividend, Payable on January 25, 2024 Lemtech Holdings Co., Limited announced appropriations of earnings in cash dividends to shareholders of TWD 0.828 per share. Total amount of cash distributed to shareholders is TWD 51,495,618. Ex-rights (ex-dividend) trading date is December 26, 2023. Ex-rights (ex-dividend) record date is January 1, 2024. Payment date of cash dividend distribution is January 25, 2024. New Risk • Nov 18
New major risk - Revenue and earnings growth Earnings have declined by 1.0% 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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.0% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (3.7% net profit margin). Reported Earnings • Nov 18
Third quarter 2023 earnings released: EPS: NT$2.07 (vs NT$1.97 in 3Q 2022) Third quarter 2023 results: EPS: NT$2.07 (up from NT$1.97 in 3Q 2022). Revenue: NT$1.48b (up 12% from 3Q 2022). Net income: NT$128.7m (up 5.0% from 3Q 2022). Profit margin: 8.7% (down from 9.3% in 3Q 2022). The decrease in margin was driven by higher expenses. 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 9% per year, which means it has not declined as severely as earnings. Announcement • Sep 28
Lemtech Holdings Co., Limited Announces Resignation of Chan Kim Seng Maurice as Natural-Person Director Lemtech Holdings Co., Limited announced resignation of CHAN KIM SENG MAURICE as Natural-person director. Reason for the change is incompetent. Upcoming Dividend • Sep 21
Upcoming dividend of NT$0.064 per share at 0.3% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 03 November 2023. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (3.2%). Announcement • Sep 01
Lemtech Holdings Co., Limited Cash Dividend, Payable on November 3, 2023 Lemtech Holdings Co., Limited announced appropriations of earnings in cash dividends to shareholders of TWD 0.064 per share or Total amount of cash distributed to shareholders of TWD 3,980,338. Payment date of cash dividend distribution is November 3, 2023, with Ex-rights (ex-dividend) trading date is September 28, 2023 and Ex-rights (ex-dividend) record date is October 7, 2023. New Risk • Aug 28
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: 3.7% Last year net profit margin: 6.8% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$81.80, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 17x in the Machinery industry in Taiwan. Total returns to shareholders of 24% over the past three years. Upcoming Dividend • Apr 20
Upcoming dividend of NT$0.50 per share at 3.3% yield Eligible shareholders must have bought the stock before 27 April 2023. Payment date: 26 May 2023. Payout ratio is a comfortable 40% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.7%). In line with average of industry peers (3.0%). Upcoming Dividend • Dec 21
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 02 February 2023. Payout ratio is a comfortable 45% but the company is not cash flow positive. Trailing yield: 5.1%. Lower than top quartile of Taiwanese dividend payers (6.9%). Higher than average of industry peers (3.6%). Announcement • Dec 03
Lemtech Holdings Co., Limited Announces Cash Dividend, Payable on February 2, 2023 Lemtech Holdings Co., Limited announced appropriations of earnings in cash dividends to shareholders of TWD 0.50 per share with Ex-rights (ex-dividend) trading date as December 28, 2022, Ex-rights (ex-dividend) record date as January 3, 2023 and the cash dividend distribution date is February 2, 2023. Reported Earnings • Nov 19
Third quarter 2022 earnings released: EPS: NT$1.97 (vs NT$2.18 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.97 (down from NT$2.18 in 3Q 2021). Revenue: NT$1.32b (down 7.0% from 3Q 2021). Net income: NT$122.5m (down 10% from 3Q 2021). Profit margin: 9.3% (in line with 3Q 2021). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 12
Investor sentiment deteriorated over the past week After last week's 20% share price decline to NT$67.40, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 13x in the Machinery industry in Taiwan. Total loss to shareholders of 29% over the past three years. Upcoming Dividend • Oct 10
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 17 October 2022. Payment date: 16 November 2022. Payout ratio is a comfortable 51% but the company is not cash flow positive. Trailing yield: 4.8%. Lower than top quartile of Taiwanese dividend payers (7.0%). Higher than average of industry peers (3.8%). Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$76.00, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 13x in the Machinery industry in Taiwan. Total loss to shareholders of 17% over the past three years. Announcement • Sep 20
Lemtech Holdings Co., Limited Announces Cash Dividends, Payable on November 16, 2022 Lemtech Holdings Co., Limited announced cash dividends to shareholders of TWD 0.50 per share. Total amount of cash distributed to shareholders is TWD 31,096,388. Ex-rights (ex-dividend) trading date is October 17, 2022. Ex-rights (ex-dividend) record date is October 23, 2022. The cash dividend distribution date is November 16, 2022. Reported Earnings • Sep 03
Second quarter 2022 earnings released: EPS: NT$1.88 (vs NT$1.78 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.88 (up from NT$1.78 in 2Q 2021). Revenue: NT$1.92b (up 7.8% from 2Q 2021). Net income: NT$117.4m (up 5.8% from 2Q 2021). Profit margin: 6.1% (down from 6.2% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 18
Upcoming dividend of NT$1.01 per share Eligible shareholders must have bought the stock before 25 July 2022. Payment date: 24 August 2022. Payout ratio is a comfortable 42% but the company is not cash flow positive. Trailing yield: 4.0%. Lower than top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (3.5%). Announcement • Jul 08
Lemtech Holdings Co., Limited Announces Adjustment of Cash Dividend Lemtech Holdings Co., Limited held its shareholders meeting on July 7, 2022, Type and monetary amount of original dividend distribution: The cash dividend per share of Common share is TWD 1.00. Type and monetary amount of dividend distribution after the change: The cash dividend per share of Common share is TWD 1.00527392. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improved over the past week After last week's 16% share price gain to NT$125, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 14x in the Machinery industry in Taiwan. Total returns to shareholders of 47% over the past three years. Reported Earnings • May 18
First quarter 2022 earnings released: EPS: NT$1.90 (vs NT$2.62 in 1Q 2021) First quarter 2022 results: EPS: NT$1.90 (down from NT$2.62 in 1Q 2021). Revenue: NT$1.58b (down 6.7% from 1Q 2021). Net income: NT$118.7m (down 25% from 1Q 2021). Profit margin: 7.5% (down from 9.4% in 1Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment deteriorated over the past week After last week's 23% share price decline to NT$107, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 16x in the Machinery industry in Taiwan. Total returns to shareholders of 11% over the past three years. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$138, the stock trades at a trailing P/E ratio of 18.5x. Average trailing P/E is 16x in the Machinery industry in Taiwan. Total returns to shareholders of 38% over the past three years. Upcoming Dividend • Apr 21
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 28 April 2022. Payment date: 01 June 2022. Payout ratio is a comfortable 50% and the cash payout ratio is 94%. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (5.7%). Lower than average of industry peers (3.3%). Announcement • Apr 13
Lemtech Holdings Co., Limited Announces Cash Dividends, Payable on June 1, 2022 Lemtech Holdings Co., Limited announced the cash dividends to shareholders TWD 1.0 per share or Total amount of cash distributed to shareholders is TWD 62,520,775. The dividend payable on June 1, 2022 with record May 6, 2022 and ex- dividend is April 28, 2022. Reported Earnings • Apr 03
Full year 2021 earnings released: EPS: NT$7.51 (vs NT$8.32 in FY 2020) Full year 2021 results: EPS: NT$7.51. Revenue: NT$6.37b (up 16% from FY 2020). Net income: NT$465.7m (up 2.2% from FY 2020). Profit margin: 7.3% (down from 8.3% in FY 2020). The decrease in margin was driven by higher expenses. Upcoming Dividend • Dec 01
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 08 December 2021. Payment date: 07 January 2022. Trailing yield: 1.1%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (2.7%). Reported Earnings • Nov 17
Third quarter 2021 earnings released: EPS NT$2.18 (vs NT$2.50 in 3Q 2020) The company reported a mediocre third quarter result with weaker revenues, although earnings were flat and profit margins improved. Third quarter 2021 results: Revenue: NT$1.42b (down 9.7% from 3Q 2020). Net income: NT$136.3m (flat on 3Q 2020). Profit margin: 9.6% (up from 8.6% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 23
Upcoming dividend of NT$0.87 per share Eligible shareholders must have bought the stock before 30 September 2021. Payment date: 29 October 2021. Trailing yield: 2.0%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.6%). Reported Earnings • Sep 03
Second quarter 2021 earnings released: EPS NT$2.04 (vs NT$2.06 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: NT$1.78b (up 53% from 2Q 2020). Net income: NT$110.9m (up 14% from 2Q 2020). Profit margin: 6.2% (down from 8.3% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$169, the stock trades at a trailing P/E ratio of 14.3x. Average forward P/E is 15x in the Machinery industry in Taiwan. Total returns to shareholders of 6.8% over the past three years. Upcoming Dividend • Jul 01
Upcoming dividend of NT$4.00 per share Eligible shareholders must have bought the stock before 08 July 2021. Payment date: 11 August 2021. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (5.0%). Lower than average of industry peers (2.5%). Announcement • May 28
Lemtech Holdings Co., Limited (TWSE:4912) agreed to acquire 28% stake in Keycore Technology Corp. for TWD 20 million. Lemtech Holdings Co., Limited (TWSE:4912) agreed to acquire 28% stake in Keycore Technology Corp. for TWD 20 million on May 27, 2021. Reported Earnings • May 18
First quarter 2021 earnings released: EPS NT$3.01 (vs NT$0.83 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.69b (up 93% from 1Q 2020). Net income: NT$158.4m (up 300% from 1Q 2020). Profit margin: 9.4% (up from 4.5% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorated over the past week After last week's 24% share price decline to NT$153, the stock trades at a trailing P/E ratio of 16x. Average forward P/E is 11x in the Machinery industry in Taiwan. Total returns to shareholders of 11% over the past three years. Valuation Update With 7 Day Price Move • Apr 30
Investor sentiment improved over the past week After last week's 18% share price gain to NT$218, the stock trades at a trailing P/E ratio of 22.8x. Average forward P/E is 11x in the Machinery industry in Taiwan. Total returns to shareholders of 77% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$355 per share.