Declared Dividend • 2h
Dividend increased to NT$0.27 Dividend of NT$0.27 is 21% higher than last year. Ex-date: 3rd July 2026 Payment date: 24th July 2026 Dividend yield will be 1.5%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. New Risk • Jun 04
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.5% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain 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 Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 61% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$843.3m market cap, or US$26.8m). Reported Earnings • May 19
First quarter 2026 earnings released: NT$0.26 loss per share (vs NT$0.17 loss in 1Q 2025) First quarter 2026 results: NT$0.26 loss per share (further deteriorated from NT$0.17 loss in 1Q 2025). Revenue: NT$146.8m (down 1.1% from 1Q 2025). Net loss: NT$12.1m (loss widened 55% from 1Q 2025). 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 7% per year, which means it is well ahead of earnings. Reported Earnings • Mar 13
Full year 2025 earnings released: NT$0.11 loss per share (vs NT$0.23 loss in FY 2024) Full year 2025 results: NT$0.11 loss per share (improved from NT$0.23 loss in FY 2024). Revenue: NT$632.9m (flat on FY 2024). Net loss: NT$5.29m (loss narrowed 51% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Announcement • Mar 13
Shen's Art Printing Co., Ltd., Annual General Meeting, Jun 11, 2026 Shen's Art Printing Co., Ltd., Annual General Meeting, Jun 11, 2026. Location: 4 floor no,66, ch`ung ch`ing rd., banciao district, new taipei city Taiwan Board Change • Feb 26
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. 1 experienced director. 5 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Director Chun-Nan Chen was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Nov 25
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. 5 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Chun-Nan Chen was the last independent director to join the board, commencing their role in 2020. 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 15
Third quarter 2025 earnings released: EPS: NT$0.17 (vs NT$0.15 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.17 (up from NT$0.15 in 3Q 2024). Revenue: NT$153.2m (flat on 3Q 2024). Net income: NT$8.10m (up 13% from 3Q 2024). Profit margin: 5.3% (up from 4.7% in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 107 percentage points per year, which is a significant difference in performance. Board Change • Oct 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. 5 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Chun-Nan Chen was the last independent director to join the board, commencing their role in 2020. 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 • Aug 08
Second quarter 2025 earnings released: NT$0.12 loss per share (vs NT$0.099 loss in 2Q 2024) Second quarter 2025 results: NT$0.12 loss per share (further deteriorated from NT$0.099 loss in 2Q 2024). Revenue: NT$145.6m (down 2.6% from 2Q 2024). Net loss: NT$5.51m (loss widened 19% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 119 percentage points per year, which is a significant difference in performance. Declared Dividend • Jun 15
Dividend reduced to NT$0.22 Dividend of NT$0.22 is 34% lower than last year. Ex-date: 2nd July 2025 Payment date: 24th July 2025 Dividend yield will be 1.2%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (29% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Reported Earnings • May 09
First quarter 2025 earnings released: NT$0.17 loss per share (vs NT$0.20 loss in 1Q 2024) First quarter 2025 results: NT$0.17 loss per share (improved from NT$0.20 loss in 1Q 2024). Revenue: NT$148.4m (up 4.2% from 1Q 2024). Net loss: NT$7.79m (loss narrowed 16% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 122 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Apr 15
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.5% to NT$23.20. The fair value is estimated to be NT$29.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Mar 20
Full year 2024 earnings released: NT$0.23 loss per share (vs NT$0.099 loss in FY 2023) Full year 2024 results: NT$0.23 loss per share (further deteriorated from NT$0.099 loss in FY 2023). Revenue: NT$633.0m (down 4.0% from FY 2023). Net loss: NT$10.8m (loss widened 133% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 126 percentage points per year, which is a significant difference in performance. Announcement • Mar 14
Shen's Art Printing Co., Ltd., Annual General Meeting, Jun 13, 2025 Shen's Art Printing Co., Ltd., Annual General Meeting, Jun 13, 2025. Location: 4 floor no,66, ch`ung ch`ing rd., banciao district, new taipei city Taiwan Board Change • Feb 13
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. 3 experienced directors. 4 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Chun-Nan Chen was the last independent director to join the board, commencing their role in 2020. 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 19
Third quarter 2024 earnings released: EPS: NT$0.15 (vs NT$0.11 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.15 (up from NT$0.11 in 3Q 2023). Revenue: NT$153.9m (flat on 3Q 2023). Net income: NT$7.17m (up 40% from 3Q 2023). Profit margin: 4.7% (up from 3.3% in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 114 percentage points per year, which is a significant difference in performance. New Risk • Nov 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.5% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.5% average weekly change). Earnings have declined by 34% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$1.12b market cap, or US$34.5m). Reported Earnings • Aug 18
Second quarter 2024 earnings released: NT$0.10 loss per share (vs NT$0.019 loss in 2Q 2023) Second quarter 2024 results: NT$0.10 loss per share (further deteriorated from NT$0.019 loss in 2Q 2023). Revenue: NT$149.4m (down 2.8% from 2Q 2023). Net loss: NT$4.63m (loss widened 419% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Jun 20
Upcoming dividend of NT$0.33 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 23 July 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (4.2%). Lower than average of industry peers (3.9%). Reported Earnings • May 19
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$142.5m (down 19% from 1Q 2023). Net loss: NT$9.29m (loss widened 16% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Mar 21
Shen's Art Printing Co., Ltd., Annual General Meeting, Jun 07, 2024 Shen's Art Printing Co., Ltd., Annual General Meeting, Jun 07, 2024. Reported Earnings • Mar 20
Full year 2023 earnings released: NT$0.10 loss per share (vs NT$0.51 profit in FY 2022) Full year 2023 results: NT$0.10 loss per share (down from NT$0.51 profit in FY 2022). Revenue: NT$659.1m (flat on FY 2022). Net loss: NT$4.63m (down 119% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: NT$0.11 (vs NT$0.31 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.11 (down from NT$0.31 in 3Q 2022). Revenue: NT$153.8m (down 6.6% from 3Q 2022). Net income: NT$5.12m (down 64% from 3Q 2022). Profit margin: 3.3% (down from 8.7% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has remained flat, which means it is well ahead of earnings. New Risk • Aug 13
New major risk - Revenue and earnings growth Earnings have declined by 1.2% 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 1.2% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (dividend per share is over 47x earnings per share). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.07% net profit margin). Market cap is less than US$100m (NT$663.9m market cap, or US$20.8m). Reported Earnings • Aug 12
Second quarter 2023 earnings released: NT$0.02 loss per share (vs NT$0.082 loss in 2Q 2022) Second quarter 2023 results: NT$0.02 loss per share (improved from NT$0.082 loss in 2Q 2022). Revenue: NT$153.8m (flat on 2Q 2022). Net loss: NT$892.0k (loss narrowed 77% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 14
Upcoming dividend of NT$0.50 per share at 3.3% yield Eligible shareholders must have bought the stock before 21 July 2023. Payment date: 15 August 2023. Payout ratio is on the higher end at 99%, and the cash payout ratio is above 100%. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.3%). New Risk • Jul 10
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 99% Cash payout ratio: 335% Dividend yield: 3.3% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 99% Cash payout ratio: 335% Minor Risk Market cap is less than US$100m (NT$703.5m market cap, or US$22.5m). Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: NT$0.51 (vs NT$0.31 in FY 2021) Full year 2022 results: EPS: NT$0.51 (up from NT$0.31 in FY 2021). Revenue: NT$655.1m (up 25% from FY 2021). Net income: NT$23.8m (up 63% from FY 2021). Profit margin: 3.6% (up from 2.8% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 5% per year. Board Change • Nov 16
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 Chun-Nan Chen was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 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 Chun-Nan Chen was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Jun 21
Upcoming dividend of NT$0.45 per share Eligible shareholders must have bought the stock before 28 June 2022. Payment date: 19 July 2022. Payout ratio is a comfortable 66% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Taiwanese dividend payers (6.3%). Lower than average of industry peers (4.9%). Board Change • Apr 27
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 Chun-Nan Chen was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Feb 10
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 Chun-Nan Chen was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.36 (vs NT$0.16 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$130.4m (down 4.5% from 3Q 2020). Net income: NT$16.8m (up 120% from 3Q 2020). Profit margin: 13% (up from 5.6% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 4% per year. Reported Earnings • Aug 09
Second quarter 2021 earnings released: NT$0.09 loss per share (vs NT$0.14 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: NT$115.9m (down 9.9% from 2Q 2020). Net loss: NT$4.24m (down 165% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 8% per year. Upcoming Dividend • Jul 29
Upcoming dividend of NT$0.42 per share Eligible shareholders must have bought the stock before 03 August 2021. Payment date: 19 August 2021. Trailing yield: 2.7%. Lower than top quartile of Taiwanese dividend payers (5.0%). Lower than average of industry peers (4.8%). Board Change • Jul 29
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 Chun-Nan Chen was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 09
First quarter 2021 earnings released: EPS NT$0.02 (vs NT$0.057 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$127.4m (down 2.4% from 1Q 2020). Net income: NT$925.0k (down 65% from 1Q 2020). Profit margin: 0.7% (down from 2.0% in 1Q 2020). The decrease in margin was driven by lower revenue. 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 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 18
Full year 2020 earnings released: EPS NT$0.42 (vs NT$0.50 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: NT$559.1m (up 3.7% from FY 2019). Net income: NT$19.5m (down 17% from FY 2019). Profit margin: 3.5% (down from 4.3% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Mar 12
Shen's Art Printing Co., Ltd., Annual General Meeting, Jun 10, 2021 Shen's Art Printing Co., Ltd., Annual General Meeting, Jun 10, 2021. Is New 90 Day High Low • Mar 10
New 90-day high: NT$17.40 The company is up 24% from its price of NT$14.00 on 10 December 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 2.0% over the same period. Is New 90 Day High Low • Mar 06
New 90-day high: NT$16.90 The company is up 21% from its price of NT$14.00 on 30 November 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 1.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.16 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: NT$136.5m (up 3.2% from 3Q 2019). Net income: NT$7.63m (down 45% from 3Q 2019). Profit margin: 5.6% (down from 10% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.