Declared Dividend • Jun 11
Dividend increased to NT$3.30 Dividend of NT$3.30 is 53% higher than last year. Ex-date: 25th June 2026 Payment date: 23rd July 2026 Dividend yield will be 7.6%, which is higher than the industry average of 4.7%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (29% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 30% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 20
First quarter 2026 earnings released: EPS: NT$1.96 (vs NT$0.46 in 1Q 2025) First quarter 2026 results: EPS: NT$1.96 (up from NT$0.46 in 1Q 2025). Revenue: NT$2.02b (up 39% from 1Q 2025). Net income: NT$394.2m (up 322% from 1Q 2025). Profit margin: 20% (up from 6.4% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$42.90, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 18x in the Construction industry in Taiwan. Total returns to shareholders of 245% over the past three years. Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: NT$4.48 (vs NT$2.91 in FY 2024) Full year 2025 results: EPS: NT$4.48 (up from NT$2.91 in FY 2024). Revenue: NT$7.10b (up 16% from FY 2024). Net income: NT$903.6m (up 33% from FY 2024). Profit margin: 13% (up from 11% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Announcement • Mar 12
Chien Kuo Construction Co., Ltd., Annual General Meeting, May 29, 2026 Chien Kuo Construction Co., Ltd., Annual General Meeting, May 29, 2026, at 09:00 Taipei Standard Time. Location: b1 floor no,85, sec.4 luo szu fu rd., taipei city Taiwan Buy Or Sell Opportunity • Jan 13
Now 23% undervalued Over the last 90 days, the stock has risen 40% to NT$35.25. The fair value is estimated to be NT$45.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 41%. Reported Earnings • Nov 18
Third quarter 2025 earnings released: EPS: NT$2.21 (vs NT$0.68 in 3Q 2024) Third quarter 2025 results: EPS: NT$2.21 (up from NT$0.68 in 3Q 2024). Revenue: NT$1.89b (up 34% from 3Q 2024). Net income: NT$446.0m (up 183% from 3Q 2024). Profit margin: 24% (up from 11% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: NT$0.24 (vs NT$0.55 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.24 (down from NT$0.55 in 2Q 2024). Revenue: NT$1.70b (up 26% from 2Q 2024). Net income: NT$47.5m (down 57% from 2Q 2024). Profit margin: 2.8% (down from 8.2% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Jun 20
Chien Kuo Construction Co., Ltd. Approves Cash Dividend Distribution Payable on July 31, 2025 Chien Kuo Construction Co., Ltd. announced that its board of directors resolved on June 18, 2025, to distribute a cash dividend totaling TWD 433,440,180 for common shares. The ex-rights (ex-dividend) trading date is set for July 3, 2025, with the ex-rights (ex-dividend) record date on July 9, 2025, and the payment date for the cash dividend is July 31, 2025. Declared Dividend • Jun 20
Dividend of NT$2.15 announced Shareholders will receive a dividend of NT$2.15. Ex-date: 3rd July 2025 Payment date: 31st July 2025 Dividend yield will be 15%, which is higher than the industry average of 4.7%. Sustainability & Growth Dividend is not adequately covered by earnings (90.4% earnings payout ratio). However, it is well covered by cash flows (44% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 46% over the last 5 years, which if continued should maintain adequate earnings cover for the dividend. Board Change • Jun 04
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Tai San Yen was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$0.46 (vs NT$1.08 in 1Q 2024) First quarter 2025 results: EPS: NT$0.46 (down from NT$1.08 in 1Q 2024). Revenue: NT$1.45b (up 25% from 1Q 2024). Net income: NT$93.4m (down 57% from 1Q 2024). Profit margin: 6.4% (down from 19% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Announcement • May 06
Chien Kuo Construction Co., Ltd. to Report Q1, 2025 Results on May 13, 2025 Chien Kuo Construction Co., Ltd. announced that they will report Q1, 2025 results on May 13, 2025 Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$25.85, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 16x in the Construction industry in Taiwan. Total returns to shareholders of 99% over the past three years. Reported Earnings • Mar 20
Full year 2024 earnings released: EPS: NT$2.91 (vs NT$1.68 in FY 2023) Full year 2024 results: EPS: NT$2.91 (up from NT$1.68 in FY 2023). Revenue: NT$6.12b (up 46% from FY 2023). Net income: NT$681.8m (up 101% from FY 2023). Profit margin: 11% (up from 8.1% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • Mar 19
Chien Kuo Construction Co., Ltd., Annual General Meeting, Jun 13, 2025 Chien Kuo Construction Co., Ltd., Annual General Meeting, Jun 13, 2025, at 09:00 Taipei Standard Time. Location: b1 floor no,85, sec.4 luo szu fu rd., taipei city Taiwan Announcement • Mar 07
Chien Kuo Construction Co., Ltd. to Report Fiscal Year 2024 Results on Mar 14, 2025 Chien Kuo Construction Co., Ltd. announced that they will report fiscal year 2024 results on Mar 14, 2025 New Risk • Nov 29
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 100% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Nov 19
Third quarter 2024 earnings released: EPS: NT$0.68 (vs NT$0.39 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.68 (up from NT$0.39 in 3Q 2023). Revenue: NT$1.41b (up 58% from 3Q 2023). Net income: NT$157.7m (up 100% from 3Q 2023). Profit margin: 11% (up from 8.8% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 15% per year. Announcement • Nov 05
Chien Kuo Construction Co., Ltd. to Report Q3, 2024 Results on Nov 12, 2024 Chien Kuo Construction Co., Ltd. announced that they will report Q3, 2024 results on Nov 12, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.44 (vs NT$0.38 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.44 (up from NT$0.38 in 2Q 2023). Revenue: NT$1.35b (up 38% from 2Q 2023). Net income: NT$110.9m (up 15% from 2Q 2023). Profit margin: 8.2% (down from 9.8% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 07
Chien Kuo Construction Co., Ltd. to Report Q2, 2024 Results on Aug 14, 2024 Chien Kuo Construction Co., Ltd. announced that they will report Q2, 2024 results on Aug 14, 2024 Upcoming Dividend • Jun 27
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 04 July 2024. Payment date: 31 July 2024. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (3.5%). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.86 (vs NT$0.32 in 1Q 2023) First quarter 2024 results: EPS: NT$0.86 (up from NT$0.32 in 1Q 2023). Revenue: NT$1.16b (up 13% from 1Q 2023). Net income: NT$217.6m (up 174% from 1Q 2023). Profit margin: 19% (up from 7.7% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Announcement • May 03
Chien Kuo Construction Co., Ltd. to Report Q1, 2024 Results on May 08, 2024 Chien Kuo Construction Co., Ltd. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 08, 2024 Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$27.15, the stock trades at a trailing P/E ratio of 20.2x. Average trailing P/E is 17x in the Construction industry in Taiwan. Total returns to shareholders of 129% over the past three years. Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$22.90, the stock trades at a trailing P/E ratio of 17x. Average trailing P/E is 16x in the Construction industry in Taiwan. Total returns to shareholders of 105% over the past three years. Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: NT$1.34 (vs NT$0.72 in FY 2022) Full year 2023 results: EPS: NT$1.34 (up from NT$0.72 in FY 2022). Revenue: NT$4.19b (down 17% from FY 2022). Net income: NT$338.5m (up 84% from FY 2022). Profit margin: 8.1% (up from 3.6% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Mar 14
Chien Kuo Construction Co., Ltd., Annual General Meeting, Jun 18, 2024 Chien Kuo Construction Co., Ltd., Annual General Meeting, Jun 18, 2024. New Risk • Nov 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 61% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: NT$0.31 (vs NT$0.22 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.31 (up from NT$0.22 in 3Q 2022). Revenue: NT$895.1m (down 25% from 3Q 2022). Net income: NT$79.0m (up 43% from 3Q 2022). Profit margin: 8.8% (up from 4.6% in 3Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. New Risk • Aug 28
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 44% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: NT$0.38 (vs NT$0.075 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.38 (up from NT$0.075 in 2Q 2022). Revenue: NT$978.8m (down 30% from 2Q 2022). Net income: NT$96.3m (up 402% from 2Q 2022). Profit margin: 9.8% (up from 1.4% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 11
Upcoming dividend of NT$1.00 per share at 7.0% yield Eligible shareholders must have bought the stock before 18 July 2023. Payment date: 07 August 2023. The company is paying out more than 100% of its profits and is paying out 85% of its cash flow. Trailing yield: 7.0%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (5.4%). Announcement • Jun 30
Chien Kuo Construction Co., Ltd. Announces Cash Dividend, Payable on August 7, 2023 Chien Kuo Construction Co., Ltd. announced cash dividend of TWD 252,000,105. Ex-rights (ex-dividend) trading date is July 18, 2023. Ex-rights (ex-dividend) record date is July 24, 2023. Payment date of cash dividend distribution on August 7, 2023. Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: NT$0.72 (vs NT$1.57 in FY 2021) Full year 2022 results: EPS: NT$0.72 (down from NT$1.57 in FY 2021). Revenue: NT$5.07b (down 4.9% from FY 2021). Net income: NT$184.1m (down 55% from FY 2021). Profit margin: 3.6% (down from 7.6% in FY 2021). Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 20% per year. Reported Earnings • Nov 19
Third quarter 2022 earnings released: EPS: NT$0.22 (vs NT$0.51 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.22 (down from NT$0.51 in 3Q 2021). Revenue: NT$1.20b (down 7.4% from 3Q 2021). Net income: NT$55.4m (down 58% from 3Q 2021). Profit margin: 4.6% (down from 10% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Nov 12
Chien Kuo Construction Co., Ltd. Appoints Committee Members of Sustainable Development Committee Chien Kuo Construction Co., Ltd. appointed committee members and approve Regulations of Sustainable Development Committee. Name of the new position holder: Chang-Shiou; Chen, Chi-Te; Tsai, Jin-Pau; Resume of the new position holder: Wu, Chang-Shiou: The Company's Chairman; Chen, Chi-Te:The Company's Vice Chairman; Tsai, Jin-Pau The company's Independent Director. Effective date of the new member is November 11, 2022. Any other matters that need to be specified: The term starts from the date of appointment to the current Board of Directors term expires November 11, 2022 to July 21, 2024. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.07 (vs NT$0.39 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.07 (down from NT$0.39 in 2Q 2021). Revenue: NT$1.39b (down 3.2% from 2Q 2021). Net income: NT$19.2m (down 81% from 2Q 2021). Profit margin: 1.4% (down from 7.0% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Buying Opportunity • Aug 01
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 6.9%. The fair value is estimated to be NT$16.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 53%. Upcoming Dividend • Jul 25
Upcoming dividend of NT$1.02 per share Eligible shareholders must have bought the stock before 01 August 2022. Payment date: 25 August 2022. Payout ratio is on the higher end at 82%, and the cash payout ratio is above 100%. Trailing yield: 7.2%. Within top quartile of Taiwanese dividend payers (6.6%). Higher than average of industry peers (6.4%). Buying Opportunity • Jul 12
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 4.0%. The fair value is estimated to be NT$16.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 53%. Reported Earnings • May 14
First quarter 2022 earnings released: EPS: NT$0.18 (vs NT$0.54 in 1Q 2021) First quarter 2022 results: EPS: NT$0.18 (down from NT$0.54 in 1Q 2021). Revenue: NT$1.08b (down 9.7% from 1Q 2021). Net income: NT$46.3m (down 67% from 1Q 2021). Profit margin: 4.3% (down from 12% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: NT$1.57 (vs NT$1.16 in FY 2020) Full year 2021 results: EPS: NT$1.57 (up from NT$1.16 in FY 2020). Revenue: NT$5.33b (down 21% from FY 2020). Net income: NT$405.2m (up 35% from FY 2020). Profit margin: 7.6% (up from 4.5% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.51 (vs NT$0.38 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: NT$1.30b (down 28% from 3Q 2020). Net income: NT$132.2m (up 36% from 3Q 2020). Profit margin: 10% (up from 5.4% in 3Q 2020). 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 2% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 09
Upcoming dividend of NT$0.80 per share Eligible shareholders must have bought the stock before 16 August 2021. Payment date: 03 September 2021. Trailing yield: 5.5%. Within top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (4.8%). Reported Earnings • May 18
First quarter 2021 earnings released: EPS NT$0.54 (vs NT$0.45 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: NT$1.19b (down 21% from 1Q 2020). Net income: NT$138.4m (up 15% from 1Q 2020). Profit margin: 12% (up from 7.9% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorated over the past week After last week's 18% share price decline to NT$11.85, the stock trades at a trailing P/E ratio of 10.3x. Average trailing P/E is 12x in the Construction industry in Taiwan. Total returns to shareholders of 14% over the past three years. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$1.15 (vs NT$0.57 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$6.76b (up 6.8% from FY 2019). Net income: NT$301.1m (up 68% from FY 2019). Profit margin: 4.5% (up from 2.8% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Mar 16
New 90-day high: NT$13.50 The company is up 5.0% from a price of NT$12.80 on 16 December 2020. Underperformed the Taiwanese market, which is up 15% over the last 90 days. Lagged the Construction industry, which is up 8.0% over the same period. Is New 90 Day High Low • Dec 31
New 90-day high: NT$13.45 The company is up 14% from its price of NT$11.85 on 30 September 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Construction industry, which is up 6.0% over the same period. Is New 90 Day High Low • Nov 27
New 90-day high: NT$12.85 The company is up 6.0% from its price of NT$12.10 on 28 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 9.0% over the same period. Reported Earnings • Nov 17
Third quarter 2020 earnings released: EPS NT$0.38 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.79b (up 27% from 3Q 2019). Net income: NT$97.1m (up 114% from 3Q 2019). Profit margin: 5.4% (up from 3.2% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. 
