Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$115, the stock trades at a trailing P/E ratio of 20.5x. Average trailing P/E is 37x in the Aerospace & Defense industry in Taiwan. Total returns to shareholders of 177% over the past three years. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$99.00, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 37x in the Aerospace & Defense industry in Taiwan. Total returns to shareholders of 127% over the past three years. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 45% After last week's 45% share price gain to NT$97.90, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 39x in the Aerospace & Defense industry in Taiwan. Total returns to shareholders of 205% over the past three years. New Risk • May 21
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 9.3% 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 High level of non-cash earnings (27% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (9.3% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). New Risk • May 17
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 27% 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. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (27% accrual ratio). Minor Risk Shareholders have been diluted in the past year (17% increase in shares outstanding). Reported Earnings • May 17
First quarter 2026 earnings released: EPS: NT$4.00 (vs NT$0.60 in 1Q 2025) First quarter 2026 results: EPS: NT$4.00 (up from NT$0.60 in 1Q 2025). Revenue: NT$1.06b (up 23% from 1Q 2025). Net income: NT$555.6m (up NT$493.6m from 1Q 2025). Profit margin: 53% (up from 7.2% in 1Q 2025). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$65.30, the stock trades at a trailing P/E ratio of 40.2x. Average trailing P/E is 47x in the Aerospace & Defense industry in Taiwan. Total returns to shareholders of 99% over the past three years. Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: NT$1.77 (vs NT$0.015 in FY 2024) Full year 2025 results: EPS: NT$1.77 (up from NT$0.015 in FY 2024). Revenue: NT$3.61b (flat on FY 2024). Net income: NT$200.7m (up NT$199.1m from FY 2024). Profit margin: 5.6% (up from 0% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Announcement • Mar 11
Parpro Corporation, Annual General Meeting, May 29, 2026 Parpro Corporation, Annual General Meeting, May 29, 2026, at 09:00 Taipei Standard Time. Location: no,188, sec.3 ling hang s. rd., jhongli district, taoyuan city Taiwan Buy Or Sell Opportunity • Mar 04
Now 22% undervalued Over the last 90 days, the stock has risen 22% to NT$57.20. The fair value is estimated to be NT$72.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Feb 06
Now 22% undervalued Over the last 90 days, the stock has risen 16% to NT$59.70. The fair value is estimated to be NT$76.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Dec 30
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.1% to NT$58.10. The fair value is estimated to be NT$73.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$55.90, the stock trades at a trailing P/E ratio of 36x. Average trailing P/E is 44x in the Aerospace & Defense industry in Taiwan. Total returns to shareholders of 110% over the past three years. New Risk • Nov 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% 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. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Shareholders have been diluted in the past year (25% increase in shares outstanding). Reported Earnings • Nov 15
Third quarter 2025 earnings released: EPS: NT$0.50 (vs NT$0.27 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.50 (up from NT$0.27 in 3Q 2024). Revenue: NT$880.0m (flat on 3Q 2024). Net income: NT$58.6m (up 124% from 3Q 2024). Profit margin: 6.7% (up from 3.0% in 3Q 2024). 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 29% per year, which means it is well ahead of earnings. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: NT$0.04 (vs NT$0.92 loss in 2Q 2024) Second quarter 2025 results: EPS: NT$0.04 (up from NT$0.92 loss in 2Q 2024). Revenue: NT$781.0m (down 14% from 2Q 2024). Net income: NT$4.49m (up NT$95.3m from 2Q 2024). Profit margin: 0.6% (up from net loss in 2Q 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Declared Dividend • Jul 03
Dividend of NT$0.40 announced Dividend of NT$0.40 is the same as last year. Ex-date: 28th July 2025 Payment date: 20th August 2025 Dividend yield will be 1.0%, which is lower than the industry average of 2.5%. Payout Ratios Payout ratio: 63%. Cash payout ratio: 8%. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$60.00 (vs NT$0.002 in 1Q 2024) First quarter 2025 results: EPS: NT$60.00 (up from NT$0.002 in 1Q 2024). Revenue: NT$856.8m (down 12% from 1Q 2024). Net income: NT$62.0m (up NT$61.8m from 1Q 2024). Profit margin: 7.2% (up from 0% in 1Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Announcement • May 06
Parpro Corporation to Report Q1, 2025 Results on May 13, 2025 Parpro Corporation announced that they will report Q1, 2025 results on May 13, 2025 New Risk • Apr 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.19b (US$96.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.6% average weekly change). Earnings have declined by 22% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.04% net profit margin). Market cap is less than US$100m (NT$3.19b market cap, or US$96.6m). Reported Earnings • Mar 14
Full year 2024 earnings released: EPS: NT$0.02 (vs NT$0.88 in FY 2023) Full year 2024 results: EPS: NT$0.02 (down from NT$0.88 in FY 2023). Revenue: NT$3.57b (up 4.7% from FY 2023). Net income: NT$1.51m (down 98% from FY 2023). Profit margin: 0% (down from 2.4% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Announcement • Mar 12
Parpro Corporation Approves Cash Dividend for the Year 2024 Parpro Corporation approved cash dividend of TWD 0.4 per share for the year 2024. Total amount of cash distributed to shareholders of TWD 42,013,554. New Risk • Mar 05
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 7.9% 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 (7.9% average weekly change). Earnings have declined by 28% per year over the past 5 years. Announcement • Mar 04
Parpro Corporation to Report Q4, 2024 Results on Mar 11, 2025 Parpro Corporation announced that they will report Q4, 2024 results on Mar 11, 2025 Buy Or Sell Opportunity • Feb 06
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 1.7% to NT$36.15. The fair value is estimated to be NT$29.87, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.27 (vs NT$0.61 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.27 (down from NT$0.61 in 3Q 2023). Revenue: NT$881.1m (up 4.9% from 3Q 2023). Net income: NT$26.2m (down 56% from 3Q 2023). Profit margin: 3.0% (down from 7.0% 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 37% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. New Risk • Nov 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 6.4% 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 24% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Shareholders have been diluted in the past year (6.1% increase in shares outstanding). Market cap is less than US$100m (NT$3.15b market cap, or US$97.2m). Announcement • Nov 05
Parpro Corporation to Report Q3, 2024 Results on Nov 12, 2024 Parpro Corporation announced that they will report Q3, 2024 results on Nov 12, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: NT$0.92 loss per share (vs NT$0.40 profit in 2Q 2023) Second quarter 2024 results: NT$0.92 loss per share (down from NT$0.40 profit in 2Q 2023). Revenue: NT$911.3m (up 6.2% from 2Q 2023). Net loss: NT$90.9m (down 352% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 5% per year. Announcement • Aug 06
Parpro Corporation to Report Q2, 2024 Results on Aug 13, 2024 Parpro Corporation announced that they will report Q2, 2024 results on Aug 13, 2024 New Risk • Aug 05
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 6.9% 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 22% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Profit margins are more than 30% lower than last year (1.6% net profit margin). Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (NT$2.70b market cap, or US$82.7m). Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$37.40, the stock trades at a trailing P/E ratio of 66.7x. Average trailing P/E is 20x in the Hospitality industry in Taiwan. Total returns to shareholders of 39% over the past three years. Upcoming Dividend • Jul 22
Upcoming dividend of NT$0.40 per share Eligible shareholders must have bought the stock before 29 July 2024. Payment date: 21 August 2024. Payout ratio is a comfortable 69% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Taiwanese dividend payers (4.3%). Lower than average of industry peers (4.1%). Reported Earnings • May 12
First quarter 2024 earnings released First quarter 2024 results: Revenue: NT$970.0m (up 17% from 1Q 2023). Net income: NT$202.0k (down 99% from 1Q 2023). Profit margin: 0% (down from 3.1% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 75% 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 02
Parpro Corporation to Report Q1, 2024 Results on May 09, 2024 Parpro Corporation announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 09, 2024 Reported Earnings • Mar 17
Full year 2023 earnings released: EPS: NT$0.87 (vs NT$1.21 in FY 2022) Full year 2023 results: EPS: NT$0.87 (down from NT$1.21 in FY 2022). Revenue: NT$3.41b (up 23% from FY 2022). Net income: NT$80.3m (down 19% from FY 2022). Profit margin: 2.4% (down from 3.6% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. New Risk • Jan 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.10b (US$98.2m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 23% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (NT$3.10b market cap, or US$98.2m). Reported Earnings • Nov 11
Third quarter 2023 earnings released: EPS: NT$0.61 (vs NT$0.027 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.61 (up from NT$0.027 in 3Q 2022). Revenue: NT$839.6m (up 26% from 3Q 2022). Net income: NT$58.9m (up NT$56.7m from 3Q 2022). Profit margin: 7.0% (up from 0.3% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. New Risk • Oct 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.22b (US$99.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.7x net interest cover). Earnings have declined by 25% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (NT$3.22b market cap, or US$99.5m). New Risk • Aug 18
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.7x net interest cover). Share price has been highly volatile over the past 3 months (8.4% average weekly change). Earnings have declined by 25% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (13% increase in shares outstanding). New Risk • Jun 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.1% 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. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.0x net interest cover). Share price has been highly volatile over the past 3 months (8.2% average weekly change). Earnings have declined by 25% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (6.1% increase in shares outstanding). Upcoming Dividend • Jun 23
Upcoming dividend of NT$0.38 per share at 0.8% yield Eligible shareholders must have bought the stock before 30 June 2023. Payment date: 19 July 2023. Payout ratio is a comfortable 31% but the company is paying out more than the cash it is generating. Trailing yield: 0.8%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (1.9%). New Risk • Jun 21
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 7.9% 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 Interest payments are not well covered by earnings (2.0x net interest cover). Share price has been highly volatile over the past 3 months (7.9% average weekly change). Earnings have declined by 25% per year over the past 5 years. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to NT$44.85, the stock trades at a trailing P/E ratio of 34.6x. Average trailing P/E is 33x in the Hospitality industry in Taiwan. Total returns to shareholders of 81% over the past three years. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improved over the past week After last week's 20% share price gain to NT$26.75, the stock trades at a trailing P/E ratio of 42.4x. Average trailing P/E is 29x in the Hospitality industry in Taiwan. Total loss to shareholders of 11% over the past three years. Board Change • Nov 16
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. 7 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.03 (vs NT$0.25 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.03 (down from NT$0.25 in 3Q 2021). Revenue: NT$665.9m (up 27% from 3Q 2021). Net income: NT$2.19m (down 89% from 3Q 2021). Profit margin: 0.3% (down from 3.9% in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.26 (vs NT$0.52 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.26 (down from NT$0.52 in 2Q 2021). Revenue: NT$619.3m (down 9.7% from 2Q 2021). Net income: NT$21.5m (down 50% from 2Q 2021). Profit margin: 3.5% (down from 6.3% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Aug 10
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 17 August 2022. Payment date: 31 August 2022. Payout ratio is a comfortable 45% but the company is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of Taiwanese dividend payers (6.6%). Lower than average of industry peers (3.5%). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improved over the past week After last week's 19% share price gain to NT$28.45, the stock trades at a trailing P/E ratio of 25.5x. Average trailing P/E is 26x in the Hospitality industry in Taiwan. Total loss to shareholders of 4.7% over the past three years. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.22 (vs NT$0.40 in 1Q 2021) First quarter 2022 results: EPS: NT$0.22 (down from NT$0.40 in 1Q 2021). Revenue: NT$542.1m (up 25% from 1Q 2021). Net income: NT$18.3m (down 44% from 1Q 2021). Profit margin: 3.4% (down from 7.6% in 1Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS NT$0.25 (vs NT$0.022 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$525.1m (up 7.4% from 3Q 2020). Net income: NT$20.7m (up NT$18.9m from 3Q 2020). Profit margin: 3.9% (up from 0.4% in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS NT$0.52 (vs NT$1.34 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$685.8m (down 17% from 2Q 2020). Net income: NT$43.0m (up NT$153.0m from 2Q 2020). Profit margin: 6.3% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 56% 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. Upcoming Dividend • Aug 05
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 12 August 2021. Payment date: 27 August 2021. Trailing yield: 1.9%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (3.1%). Reported Earnings • May 14
First quarter 2021 earnings released: EPS NT$0.40 (vs NT$0.45 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and revenues, although profit margins were improved. First quarter 2021 results: Revenue: NT$433.6m (down 73% from 1Q 2020). Net income: NT$32.8m (down 12% from 1Q 2020). Profit margin: 7.6% (up from 2.4% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 13
Full year 2020 earnings released: NT$1.78 loss per share (vs NT$4.02 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$3.38b (down 57% from FY 2019). Net loss: NT$146.1m (down 145% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 12% per year. Announcement • Mar 12
Parpro Corporation, Annual General Meeting, May 31, 2021 Parpro Corporation, Annual General Meeting, May 31, 2021. Is New 90 Day High Low • Dec 07
New 90-day high: NT$27.05 The company is up 25% from its price of NT$21.60 on 08 September 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 13% over the same period. Is New 90 Day High Low • Nov 17
New 90-day high: NT$23.40 The company is up 7.0% from its price of NT$21.85 on 19 August 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 5.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.02 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$489.1m (down 77% from 3Q 2019). Net income: NT$1.81m (down 99% from 3Q 2019). Profit margin: 0.4% (down from 10% in 3Q 2019). The decrease in margin was driven by lower revenue. 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 15% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Sep 24
New 90-day low: NT$20.45 The company is down 27% from its price of NT$28.00 on 24 June 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is down 6.0% over the same period.