Reported Earnings • May 17
First quarter 2026 earnings released: EPS: NT$0.28 (vs NT$0.48 in 1Q 2025) First quarter 2026 results: EPS: NT$0.28 (down from NT$0.48 in 1Q 2025). Revenue: NT$1.34b (down 1.1% from 1Q 2025). Net income: NT$36.0m (down 42% from 1Q 2025). Profit margin: 2.7% (down from 4.6% in 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Apr 09
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 16 April 2026. Payment date: 08 May 2026. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.4%. Lower than top quartile of Taiwanese dividend payers (5.1%). Lower than average of industry peers (4.1%). Reported Earnings • Mar 18
Full year 2025 earnings released: NT$9.56 loss per share (vs NT$2.88 profit in FY 2024) Full year 2025 results: NT$9.56 loss per share (down from NT$2.88 profit in FY 2024). Revenue: NT$5.25b (down 4.7% from FY 2024). Net loss: NT$1.22b (down 432% from profit in 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. Declared Dividend • Mar 14
Dividend of NT$0.50 announced Shareholders will receive a dividend of NT$0.50. Ex-date: 16th April 2026 Payment date: 8th May 2026 Dividend yield will be 2.2%, 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. The dividend is also not covered by cash flows (dividend approximately 5x free cash flows). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Announcement • Mar 13
General Plastic Industrial Co., Ltd., Annual General Meeting, Jun 17, 2026 General Plastic Industrial Co., Ltd., Annual General Meeting, Jun 17, 2026. Location: no,280, tzu ch`iang rd., wuci district, taichung city Taiwan New Risk • Nov 18
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 7.4% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (7.4% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Dividend per share is over 5x cash flows per share. Earnings have declined by 11% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$2.91b market cap, or US$93.3m). New Risk • Nov 12
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$2.89b (US$93.0m) 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 118% Paying a dividend despite having no free cash flows. Minor Risks Profit margins are more than 30% lower than last year (5.0% net profit margin). Market cap is less than US$100m (NT$2.89b market cap, or US$93.0m). Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$22.65, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 21x in the Commercial Services industry in Taiwan. Total loss to shareholders of 4.4% over the past three years. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: NT$0.38 (vs NT$0.74 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.38 (down from NT$0.74 in 2Q 2024). Revenue: NT$1.35b (down 2.9% from 2Q 2024). Net income: NT$47.7m (down 49% from 2Q 2024). Profit margin: 3.5% (down from 6.8% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$0.48 (vs NT$0.88 in 1Q 2024) First quarter 2025 results: EPS: NT$0.48 (down from NT$0.88 in 1Q 2024). Revenue: NT$1.35b (down 1.5% from 1Q 2024). Net income: NT$61.7m (down 45% from 1Q 2024). Profit margin: 4.6% (down from 8.2% in 1Q 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • May 01
General Plastic Industrial Co., Ltd. to Report Q1, 2025 Results on May 09, 2025 General Plastic Industrial Co., Ltd. announced that they will report Q1, 2025 results on May 09, 2025 Upcoming Dividend • Apr 10
Upcoming dividend of NT$2.50 per share Eligible shareholders must have bought the stock before 17 April 2025. Payment date: 13 May 2025. Payout ratio is on the higher end at 87%, and the cash payout ratio is above 100%. Trailing yield: 7.3%. Within top quartile of Taiwanese dividend payers (6.1%). Higher than average of industry peers (5.6%). Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$31.25, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 17x in the Commercial Services industry in Taiwan. Total returns to shareholders of 23% over the past three years. Reported Earnings • Mar 15
Full year 2024 earnings released: EPS: NT$2.88 (vs NT$3.40 in FY 2023) Full year 2024 results: EPS: NT$2.88 (down from NT$3.40 in FY 2023). Revenue: NT$5.51b (up 3.7% from FY 2023). Net income: NT$367.1m (down 15% from FY 2023). Profit margin: 6.7% (down from 8.2% 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 5% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Mar 14
General Plastic Industrial Co., Ltd., Annual General Meeting, Jun 19, 2025 General Plastic Industrial Co., Ltd., Annual General Meeting, Jun 19, 2025, at 10:00 Taipei Standard Time. Location: 3 floor no,388, sec.2 ta chih rd., wuci district, taichung city Taiwan Declared Dividend • Mar 12
Dividend of NT$2.50 announced Dividend of NT$2.50 is the same as last year. Ex-date: 17th April 2025 Payment date: 13th May 2025 Dividend yield will be 6.7%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (79% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 1.1% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 2.0% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 11
General Plastic Industrial Co., Ltd. Announces Cash Dividend, Payable on May 13, 2025 General Plastic Industrial Co., Ltd. announced cash dividends of TWD 318,971,850 (TWD 2.5 per share). Ex-rights (ex-dividend) trading date: April 17, 2025. Ex-rights (ex-dividend) record date: April 25, 2025. Payment date of common stock cash dividend distribution: May 13, 2025. Announcement • Feb 28
General Plastic Industrial Co., Ltd. to Report Fiscal Year 2024 Results on Mar 10, 2025 General Plastic Industrial Co., Ltd. announced that they will report fiscal year 2024 results on Mar 10, 2025 Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.58 (vs NT$0.72 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.58 (down from NT$0.72 in 3Q 2023). Revenue: NT$1.36b (up 4.5% from 3Q 2023). Net income: NT$73.6m (down 20% from 3Q 2023). Profit margin: 5.4% (down from 7.1% in 3Q 2023). The decrease in margin was driven by higher expenses. 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 7% per year. Announcement • Nov 02
General Plastic Industrial Co., Ltd. to Report Q3, 2024 Results on Nov 11, 2024 General Plastic Industrial Co., Ltd. announced that they will report Q3, 2024 results on Nov 11, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.74 (vs NT$0.71 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.74 (up from NT$0.71 in 2Q 2023). Revenue: NT$1.39b (up 5.8% from 2Q 2023). Net income: NT$94.0m (up 3.5% from 2Q 2023). Profit margin: 6.8% (down from 6.9% 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 11% per year whereas the company’s share price has increased by 13% per year. Announcement • Aug 07
General Plastic Industrial Co., Ltd. to Report First Half, 2024 Results on Aug 14, 2024 General Plastic Industrial Co., Ltd. announced that they will report first half, 2024 results on Aug 14, 2024 Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.88 (vs NT$0.98 in 1Q 2023) First quarter 2024 results: EPS: NT$0.88 (down from NT$0.98 in 1Q 2023). Revenue: NT$1.37b (flat on 1Q 2023). Net income: NT$112.3m (down 10% from 1Q 2023). Profit margin: 8.2% (down from 9.1% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 23% 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 03
General Plastic Industrial Co., Ltd. to Report Q1, 2024 Results on May 10, 2024 General Plastic Industrial Co., Ltd. announced that they will report Q1, 2024 results on May 10, 2024 Upcoming Dividend • Apr 11
Upcoming dividend of NT$2.50 per share Eligible shareholders must have bought the stock before 18 April 2024. Payment date: 09 May 2024. Payout ratio is a comfortable 74% and this is well supported by cash flows. Trailing yield: 6.0%. Within top quartile of Taiwanese dividend payers (4.5%). Higher than average of industry peers (3.6%). Reported Earnings • Mar 20
Full year 2023 earnings released: EPS: NT$3.40 (vs NT$5.32 in FY 2022) Full year 2023 results: EPS: NT$3.40 (down from NT$5.32 in FY 2022). Revenue: NT$5.31b (down 6.8% from FY 2022). Net income: NT$433.2m (down 36% from FY 2022). Profit margin: 8.2% (down from 12% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Mar 16
General Plastic Industrial Co., Ltd., Annual General Meeting, Jun 19, 2024 General Plastic Industrial Co., Ltd., Annual General Meeting, Jun 19, 2024. Announcement • Mar 15
General Plastic Industrial Co., Ltd. Announces Cash Dividend on Common Stock General Plastic Industrial Co., Ltd. announced Cash dividend on common stock of TWD 318,971,850 (TWD 2.5 per share). Ex-rights (ex-dividend) trading date: April 18, 2024. Ex-rights (ex-dividend) record date: April 25, 2024. Payment date of common stock cash dividend distribution: May 9, 2024. Date of the resolution by the board of directors or shareholders meeting or decision by the Company: March 14, 2024. Buy Or Sell Opportunity • Feb 23
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.7% to NT$34.15. The fair value is estimated to be NT$42.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Earnings per share has grown by 45%. Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: NT$0.71 (vs NT$1.07 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.71 (down from NT$1.07 in 2Q 2022). Revenue: NT$1.31b (down 15% from 2Q 2022). Net income: NT$90.8m (down 33% from 2Q 2022). Profit margin: 6.9% (down from 8.8% in 2Q 2022). 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 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 29
Upcoming dividend of NT$2.20 per share at 6.3% yield Eligible shareholders must have bought the stock before 06 July 2023. Payment date: 26 July 2023. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 6.3%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.3%). Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: NT$5.32 (vs NT$2.64 in FY 2021) Full year 2022 results: EPS: NT$5.32 (up from NT$2.64 in FY 2021). Revenue: NT$5.70b (up 16% from FY 2021). Net income: NT$678.6m (up 102% from FY 2021). Profit margin: 12% (up from 6.8% 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 39% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$2.24 (vs NT$0.48 in 3Q 2021) Third quarter 2022 results: EPS: NT$2.24 (up from NT$0.48 in 3Q 2021). Revenue: NT$1.33b (up 18% from 3Q 2021). Net income: NT$286.0m (up 370% from 3Q 2021). Profit margin: 22% (up from 5.4% in 3Q 2021). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$2.24 (vs NT$0.48 in 3Q 2021) Third quarter 2022 results: EPS: NT$2.24 (up from NT$0.48 in 3Q 2021). Revenue: NT$1.33b (up 18% from 3Q 2021). Net income: NT$286.0m (up 370% from 3Q 2021). Profit margin: 22% (up from 5.4% in 3Q 2021). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: NT$1.07 (vs NT$0.84 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.07 (up from NT$0.84 in 2Q 2021). Revenue: NT$1.54b (up 27% from 2Q 2021). Net income: NT$136.0m (up 27% from 2Q 2021). Profit margin: 8.8% (in line with 2Q 2021). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 28
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 05 July 2022. Payment date: 25 July 2022. Payout ratio is a comfortable 65% and this is well supported by cash flows. Trailing yield: 6.5%. Within top quartile of Taiwanese dividend payers (6.3%). Higher than average of industry peers (4.9%). Reported Earnings • May 14
First quarter 2022 earnings released: EPS: NT$0.89 (vs NT$0.44 in 1Q 2021) First quarter 2022 results: EPS: NT$0.89 (up from NT$0.44 in 1Q 2021). Revenue: NT$1.49b (up 29% from 1Q 2021). Net income: NT$114.1m (up 102% from 1Q 2021). Profit margin: 7.6% (up from 4.9% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: NT$2.64 (vs NT$1.17 in FY 2020) Full year 2021 results: EPS: NT$2.64 (up from NT$1.17 in FY 2020). Revenue: NT$4.92b (up 16% from FY 2020). Net income: NT$336.6m (up 126% from FY 2020). Profit margin: 6.8% (up from 3.5% in FY 2020). 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 but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Mar 31
General Plastic Industrial Co., Ltd., Annual General Meeting, Jun 16, 2022 General Plastic Industrial Co., Ltd., Annual General Meeting, Jun 16, 2022. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS NT$0.48 (vs NT$0.39 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.13b (up 9.5% from 3Q 2020). Net income: NT$60.8m (up 23% from 3Q 2020). Profit margin: 5.4% (up from 4.8% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 1% per year. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$0.84 (vs NT$0.18 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.22b (up 70% from 2Q 2020). Net income: NT$107.2m (up NT$129.8m from 2Q 2020). Profit margin: 8.8% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 7% per year. Upcoming Dividend • Jul 19
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 26 July 2021. Payment date: 20 August 2021. Trailing yield: 3.9%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (4.7%). Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.44 (vs NT$0.36 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$1.16b (down 14% from 1Q 2020). Net income: NT$56.4m (up 23% from 1Q 2020). Profit margin: 4.9% (up from 3.4% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 23% 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 • Mar 31
Full year 2020 earnings released: EPS NT$1.16 (vs NT$2.76 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$4.24b (down 33% from FY 2019). Net income: NT$148.6m (down 58% from FY 2019). Profit margin: 3.5% (down from 5.6% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 04
New 90-day low: NT$26.70 The company is down 3.0% from its price of NT$27.60 on 06 November 2020. The Taiwanese market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is down 2.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.39 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.03b (down 31% from 3Q 2019). Net income: NT$49.3m (down 36% from 3Q 2019). Profit margin: 4.8% (down from 5.1% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 26% 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. Is New 90 Day High Low • Nov 09
New 90-day high: NT$27.95 The company is up 2.0% from its price of NT$27.45 on 11 August 2020. The Taiwanese market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is down 3.0% over the same period. Is New 90 Day High Low • Sep 25
New 90-day low: NT$26.55 The company is down 13% from its price of NT$30.45 on 24 June 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is down 3.0% over the same period. 
