Upcoming Dividend • Jun 18
Upcoming dividend of NT$0.15 per share Eligible shareholders must have bought the stock before 25 June 2026. Payment date: 24 July 2026. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (3.4%). Reported Earnings • May 16
First quarter 2026 earnings released: EPS: NT$0.13 (vs NT$0.015 loss in 1Q 2025) First quarter 2026 results: EPS: NT$0.13 (up from NT$0.015 loss in 1Q 2025). Revenue: NT$2.61b (up 21% from 1Q 2025). Net income: NT$63.4m (up NT$71.0m from 1Q 2025). Profit margin: 2.4% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 12
Full year 2025 earnings released: EPS: NT$0.52 (vs NT$0.02 in FY 2024) Full year 2025 results: EPS: NT$0.52 (up from NT$0.02 in FY 2024). Revenue: NT$9.04b (up 27% from FY 2024). Net income: NT$253.9m (up NT$244.2m from FY 2024). Profit margin: 2.8% (up from 0.1% 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 80% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment deteriorates as stock falls 36% After last week's 36% share price decline to NT$15.30, the stock trades at a trailing P/E ratio of 40.6x. Average trailing P/E is 17x in the Construction industry in Taiwan. Total returns to shareholders of 116% over the past three years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$23.60, the stock trades at a trailing P/E ratio of 62.6x. Average trailing P/E is 16x in the Construction industry in Taiwan. Total returns to shareholders of 234% over the past three years. Announcement • Feb 11
Kung Sing Engineering Corporation, Annual General Meeting, May 22, 2026 Kung Sing Engineering Corporation, Annual General Meeting, May 22, 2026. Location: no,10-1 ln.87, sec.1 chung cheng rd., danshuei district, new taipei city Taiwan Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$22.00, the stock trades at a trailing P/E ratio of 58.3x. Average trailing P/E is 17x in the Construction industry in Taiwan. Total returns to shareholders of 229% over the past three years. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$26.05, the stock trades at a trailing P/E ratio of 69.1x. Average trailing P/E is 18x in the Construction industry in Taiwan. Total returns to shareholders of 293% over the past three years. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$25.30, the stock trades at a trailing P/E ratio of 67.1x. Average trailing P/E is 17x in the Construction industry in Taiwan. Total returns to shareholders of 275% over the past three years. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to NT$18.60, the stock trades at a trailing P/E ratio of 49.3x. Average trailing P/E is 18x in the Construction industry in Taiwan. Total returns to shareholders of 176% over the past three years. New Risk • Dec 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 36% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.5% average weekly change). New Risk • Nov 17
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 55% 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 36% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$14.00, the stock trades at a trailing P/E ratio of 40.6x. Average trailing P/E is 17x in the Construction industry in Taiwan. Total returns to shareholders of 116% over the past three years. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: NT$0.15 (vs NT$0.014 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.15 (up from NT$0.014 in 2Q 2024). Revenue: NT$2.65b (up 61% from 2Q 2024). Net income: NT$75.2m (up NT$68.4m from 2Q 2024). Profit margin: 2.8% (up from 0.4% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 15
First quarter 2025 earnings released: NT$0.02 loss per share (vs NT$0.20 loss in 1Q 2024) First quarter 2025 results: NT$0.02 loss per share (improved from NT$0.20 loss in 1Q 2024). Revenue: NT$2.15b (up 43% from 1Q 2024). Net loss: NT$7.62m (loss narrowed 92% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • May 01
Kung Sing Engineering Corporation to Report Q1, 2025 Results on May 09, 2025 Kung Sing Engineering Corporation announced that they will report Q1, 2025 results on May 09, 2025 Reported Earnings • Mar 18
Full year 2024 earnings released: EPS: NT$0.02 (vs NT$0.14 in FY 2023) Full year 2024 results: EPS: NT$0.02 (down from NT$0.14 in FY 2023). Revenue: NT$7.10b (up 33% from FY 2023). Net income: NT$9.68m (down 86% from FY 2023). Profit margin: 0.1% (down from 1.3% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Mar 12
Kung Sing Engineering Corporation, Annual General Meeting, Jun 26, 2025 Kung Sing Engineering Corporation, Annual General Meeting, Jun 26, 2025. Location: no,10-1 ln.87, sec.1 chung cheng rd., danshuei district, new taipei city Taiwan Announcement • Mar 04
Kung Sing Engineering Corporation to Report Fiscal Year 2024 Results on Mar 11, 2025 Kung Sing Engineering Corporation announced that they will report fiscal year 2024 results on Mar 11, 2025 Announcement • Nov 02
Kung Sing Engineering Corporation to Report Q3, 2024 Results on Nov 11, 2024 Kung Sing Engineering Corporation announced that they will report Q3, 2024 results on Nov 11, 2024 New Risk • Aug 17
New major risk - Revenue and earnings growth Earnings have declined by 33% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.01 (vs NT$0.18 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.01 (down from NT$0.18 in 2Q 2023). Revenue: NT$1.64b (up 21% from 2Q 2023). Net income: NT$6.77m (down 93% from 2Q 2023). Profit margin: 0.4% (down from 6.7% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 125% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Aug 09
Kung Sing Engineering Corporation to Report Q2, 2024 Results on Aug 12, 2024 Kung Sing Engineering Corporation announced that they will report Q2, 2024 results on Aug 12, 2024 Reported Earnings • May 18
First quarter 2024 earnings released: NT$0.20 loss per share (vs NT$0.17 loss in 1Q 2023) First quarter 2024 results: NT$0.20 loss per share (further deteriorated from NT$0.17 loss in 1Q 2023). Revenue: NT$1.50b (up 48% from 1Q 2023). Net loss: NT$99.3m (loss widened 20% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 03
Kung Sing Engineering Corporation to Report Q1, 2024 Results on May 10, 2024 Kung Sing Engineering Corporation announced that they will report Q1, 2024 results on May 10, 2024 Reported Earnings • Mar 17
Full year 2023 earnings released: EPS: NT$0.14 (vs NT$0.022 in FY 2022) Full year 2023 results: EPS: NT$0.14 (up from NT$0.022 in FY 2022). Revenue: NT$5.35b (up 16% from FY 2022). Net income: NT$67.3m (up NT$56.6m from FY 2022). Profit margin: 1.3% (up from 0.2% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Mar 14
Kung Sing Engineering Corporation, Annual General Meeting, Jun 25, 2024 Kung Sing Engineering Corporation, Annual General Meeting, Jun 25, 2024. Location: NO.10, Ln.87, Sec.1, Zhongzheng Rd.,Tamsui Dist. New Tapei City Taiwan Agenda: To consider and approve the business report for 2023; to check the audit committee report; to consider 2023 employees and directors remuneration assigned case report; to report the company's director's remuneration policy and individual remuneration content; to approve 2023 financial statements; to consider amendment to the Rules of Procedure for Shareholder Meetings; to consider surplus distribution case; to consider removal of restrictions on non-competition for newly appointed independent directors and to discuss other matters. New Risk • Nov 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 5.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: NT$0.18 (vs NT$0.036 loss in 2Q 2022) Second quarter 2023 results: EPS: NT$0.18 (up from NT$0.036 loss in 2Q 2022). Revenue: NT$1.36b (up 20% from 2Q 2022). Net income: NT$90.4m (up NT$108.0m from 2Q 2022). Profit margin: 6.7% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. Announcement • Aug 12
Kung Sing Engineering Corporation Announces Setting Up of Sustainable Development Committee Kung Sing Engineering Corporation's board of directors has decided to set up a sustainable development committee. Name of the new position holders are Tu,yi- yang, Chen, chin- yueh, Chiang jung ch'ing. Resume of the new position holders: Tu,yi- yang- Independent director of the company, Chen, chin- yueh- Independent director of the company and Chiang jung ch'ing- Independent director of the company. Effective date of the new members is August 11, 2023. Reported Earnings • Mar 19
Full year 2022 earnings released: EPS: NT$0.02 (vs NT$0.071 in FY 2021) Full year 2022 results: EPS: NT$0.02 (down from NT$0.071 in FY 2021). Revenue: NT$4.63b (up 28% from FY 2021). Net income: NT$10.8m (down 69% from FY 2021). Profit margin: 0.2% (down from 1.0% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 16
Third quarter 2022 earnings released: NT$0.002 loss per share (vs NT$0.049 profit in 3Q 2021) Third quarter 2022 results: NT$0.002 loss per share (down from NT$0.049 profit in 3Q 2021). Revenue: NT$1.51b (up 33% from 3Q 2021). Net loss: NT$816.0k (down 103% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 50% 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. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Yi-Yang Tu was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Third quarter 2022 earnings released: NT$0.002 loss per share (vs NT$0.049 profit in 3Q 2021) Third quarter 2022 results: NT$0.002 loss per share (down from NT$0.049 profit in 3Q 2021). Revenue: NT$1.51b (up 33% from 3Q 2021). Net loss: NT$816.0k (down 103% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 50% 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. Reported Earnings • Aug 18
Second quarter 2022 earnings released: NT$0.04 loss per share (vs NT$0.068 profit in 2Q 2021) Second quarter 2022 results: NT$0.04 loss per share (down from NT$0.068 profit in 2Q 2021). Revenue: NT$1.13b (up 30% from 2Q 2021). Net loss: NT$17.6m (down 153% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • May 16
First quarter 2022 earnings released: NT$0.03 loss per share (vs NT$0.047 profit in 1Q 2021) First quarter 2022 results: NT$0.03 loss per share (down from NT$0.047 profit in 1Q 2021). Revenue: NT$888.0m (up 68% from 1Q 2021). Net loss: NT$13.7m (down 159% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Yi-Yang Tu was the last independent director to join the board, commencing their role in 2015. 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 • Apr 03
Full year 2021 earnings released: EPS: NT$0.07 (vs NT$2.05 in FY 2020) Full year 2021 results: EPS: NT$0.07 (down from NT$2.05 in FY 2020). Revenue: NT$3.61b (down 50% from FY 2020). Net income: NT$35.2m (down 97% from FY 2020). Profit margin: 1.0% (down from 14% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Mar 31
Kung Sing Engineering Corporation, Annual General Meeting, Jun 29, 2022 Kung Sing Engineering Corporation, Annual General Meeting, Jun 29, 2022. Location: NO.10, Ln.87, Sec.1, Zhongzheng Rd., Tamsui Dist., New Taipei City Taiwan Agenda: To consider and approve the business report for 2021; check the audit committee report; 2021 employees and directors remuneration assigned case report; report the company's director's remuneration policy and individual remuneration content; to approve 2021 financial statements; and to discuss other matters. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.05 (vs NT$1.05 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.14b (up 102% from 3Q 2020). Net income: NT$24.3m (up NT$543.2m from 3Q 2020). Profit margin: 2.1% (up from net loss in 3Q 2020). 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 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 31
Upcoming dividend of NT$0.13 per share Eligible shareholders must have bought the stock before 07 September 2021. Payment date: 08 October 2021. Trailing yield: 1.3%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (4.9%). Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$0.07 (vs NT$4.27 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$870.6m (down 82% from 2Q 2020). Net income: NT$33.2m (down 98% from 2Q 2020). Profit margin: 3.8% (down from 39% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Executive Departure • Jul 25
Independent Director Chih-Lung Wang has left the company On the 22nd of July, Chih-Lung Wang's tenure as Independent Director ended after 3.1 years in the role. We don't have any record of a personal shareholding under Chih-Lung's name. Chih-Lung is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 9.50 years. Reported Earnings • May 14
First quarter 2021 earnings released: EPS NT$0.05 (vs NT$0.002 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$529.3m (down 46% from 1Q 2020). Net income: NT$23.4m (up NT$22.4m from 1Q 2020). Profit margin: 4.4% (up from 0.1% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 119% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 01
Full year 2020 earnings released: EPS NT$2.26 (vs NT$0.067 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$7.16b (up 67% from FY 2019). Net income: NT$1.01b (up NT$1.03b from FY 2019). Profit margin: 14% (up from net loss in FY 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 126% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Mar 09
New 90-day high: NT$10.90 The company is up 5.0% from its price of NT$10.40 on 09 December 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Construction industry, which is also up 5.0% over the same period. Is New 90 Day High Low • Jan 06
New 90-day low: NT$10.00 The company is down 12% from its price of NT$11.35 on 08 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 3.0% over the same period. Is New 90 Day High Low • Dec 09
New 90-day low: NT$10.40 The company is down 8.0% from its price of NT$11.25 on 10 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 2.0% over the same period. Announcement • Nov 21
Kung Sing Engineering Corporation Wins Contract Kung Sing Engineering Corporation announced that it had participated in the public tender for the procurement of Taiwan 9 Route 212K+800 - 214K+685 Papaya River Bridge Reconstruction Project sponsored by the Suhua Highway Improvement Engineering Office of the General Administration of Highways, Ministry of Transport, and won the bid for TWD 1,432,163,518. The Company over the years completed many relevant engineering qualifications of planning and construction experience, the contract of the project can be injected into the performance and profitability of the Company. Reported Earnings • Nov 15
Third quarter 2020 earnings released: NT$1.16 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: NT$565.1m (down 49% from 3Q 2019). Net loss: NT$518.9m (down NT$537.2m from profit in 3Q 2019). Over the last 3 years on average, earnings per share has increased by 120% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 19
New 90-day high: NT$12.10 The company is up 19% from its price of NT$10.15 on 21 July 2020. The Taiwanese market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 7.0% over the same period.