Reported Earnings • May 07
First quarter 2026 earnings released: EPS: NT$0.66 (vs NT$1.51 in 1Q 2025) First quarter 2026 results: EPS: NT$0.66 (down from NT$1.51 in 1Q 2025). Revenue: NT$754.5m (down 27% from 1Q 2025). Net income: NT$33.6m (down 56% from 1Q 2025). Profit margin: 4.5% (down from 7.4% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. New Risk • Feb 27
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.1% Last year net profit margin: 4.4% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 149% Paying a dividend despite having no free cash flows. Earnings have declined by 27% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (2.1% net profit margin). Market cap is less than US$100m (NT$1.29b market cap, or US$41.2m). Announcement • Feb 25
Dynamic Precision Industry Corporation, Annual General Meeting, May 14, 2026 Dynamic Precision Industry Corporation, Annual General Meeting, May 14, 2026, at 09:00 Taipei Standard Time. Location: no,1, hua chung rd., daliao district, kaohsiung city Taiwan Reported Earnings • Feb 25
Full year 2025 earnings released: EPS: NT$2.75 (vs NT$2.75 in FY 2024) Full year 2025 results: EPS: NT$2.75 (down from NT$2.75 in FY 2024). Revenue: NT$3.17b (flat on FY 2024). Net income: NT$139.9m (flat on FY 2024). Profit margin: 4.4% (in line with FY 2024). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: NT$0.27 (vs NT$0.25 loss in 3Q 2024) Third quarter 2025 results: EPS: NT$0.27 (up from NT$0.25 loss in 3Q 2024). Revenue: NT$631.0m (up 20% from 3Q 2024). Net income: NT$13.8m (up NT$26.7m from 3Q 2024). Profit margin: 2.2% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$25.00, the stock trades at a trailing P/E ratio of 40.7x. Average trailing P/E is 17x in the Leisure industry in Taiwan. Total loss to shareholders of 27% over the past three years. Buy Or Sell Opportunity • Aug 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to NT$24.90. The fair value is estimated to be NT$31.67, 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 declined by 65%. Reported Earnings • Aug 09
Second quarter 2025 earnings released: NT$1.63 loss per share (vs NT$0.56 profit in 2Q 2024) Second quarter 2025 results: NT$1.63 loss per share (down from NT$0.56 profit in 2Q 2024). Revenue: NT$718.5m (up 1.0% from 2Q 2024). Net loss: NT$82.9m (down 391% from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 52 percentage points per year, which is a significant difference in performance. Declared Dividend • Jul 25
Dividend increased to NT$1.70 Dividend of NT$1.70 is 143% higher than last year. Ex-date: 7th August 2025 Payment date: 12th September 2025 Dividend yield will be 5.8%, which is higher than the industry average of 5.0%. Sustainability & Growth Dividend is covered by earnings (61% earnings payout ratio) but not covered by cash flows (326% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 1.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Jun 20
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to NT$28.80. The fair value is estimated to be NT$36.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.4% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • May 08
First quarter 2025 earnings released: EPS: NT$1.50 (vs NT$1.45 in 1Q 2024) First quarter 2025 results: EPS: NT$1.50 (up from NT$1.45 in 1Q 2024). Revenue: NT$1.04b (up 17% from 1Q 2024). Net income: NT$76.5m (up 3.7% from 1Q 2024). Profit margin: 7.4% (down from 8.3% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Apr 08
Now 25% undervalued after recent price drop Over the last 90 days, the stock has fallen 23% to NT$25.70. The fair value is estimated to be NT$34.38, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.6% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Mar 08
Full year 2024 earnings released: EPS: NT$2.75 (vs NT$0.71 loss in FY 2023) Full year 2024 results: EPS: NT$2.75 (up from NT$0.71 loss in FY 2023). Revenue: NT$3.17b (up 22% from FY 2023). Net income: NT$139.9m (up NT$176.1m from FY 2023). Profit margin: 4.4% (up from net loss in FY 2023). 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 61 percentage points per year, which is a significant difference in performance. Announcement • Feb 27
Dynamic Precision Industry Corporation, Annual General Meeting, May 22, 2025 Dynamic Precision Industry Corporation, Annual General Meeting, May 22, 2025. Location: no,1, hua chung rd., daliao district, kaohsiung city Taiwan Reported Earnings • Nov 19
Third quarter 2024 earnings released: NT$0.25 loss per share (vs NT$0.98 loss in 3Q 2023) Third quarter 2024 results: NT$0.25 loss per share (improved from NT$0.98 loss in 3Q 2023). Revenue: NT$526.9m (up 46% from 3Q 2023). Net loss: NT$12.9m (loss narrowed 74% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Aug 01
Upcoming dividend of NT$0.70 per share Eligible shareholders must have bought the stock before 08 August 2024. Payment date: 05 September 2024. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 2.1%. Lower than top quartile of Taiwanese dividend payers (4.4%). Lower than average of industry peers (2.6%). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$1.45 (vs NT$1.11 in 1Q 2023) First quarter 2024 results: EPS: NT$1.45 (up from NT$1.11 in 1Q 2023). Revenue: NT$890.0m (up 1.9% from 1Q 2023). Net income: NT$73.8m (up 31% from 1Q 2023). Profit margin: 8.3% (up from 6.4% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Reported Earnings • Apr 03
Full year 2023 earnings released: NT$0.71 loss per share (vs NT$5.63 profit in FY 2022) Full year 2023 results: NT$0.71 loss per share (down from NT$5.63 profit in FY 2022). Revenue: NT$2.60b (down 24% from FY 2022). Net loss: NT$36.3m (down 113% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Mar 09
Dynamic Precision Industry Corporation, Annual General Meeting, May 24, 2024 Dynamic Precision Industry Corporation, Annual General Meeting, May 24, 2024. Upcoming Dividend • Aug 03
Upcoming dividend of NT$2.60 per share at 7.2% yield Eligible shareholders must have bought the stock before 10 August 2023. Payment date: 08 September 2023. Payout ratio is a comfortable 55% but the company is not cash flow positive. Trailing yield: 7.2%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.4%). New Risk • Aug 02
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.2% Last year net profit margin: 9.4% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks High level of debt (73% net debt to equity). Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (5.2% net profit margin). Market cap is less than US$100m (NT$1.86b market cap, or US$58.8m). Reported Earnings • Aug 01
Second quarter 2023 earnings released: EPS: NT$0.01 (vs NT$1.70 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.01 (down from NT$1.70 in 2Q 2022). Revenue: NT$424.8m (down 51% from 2Q 2022). Net income: NT$309.0k (down 100% from 2Q 2022). Profit margin: 0.1% (down from 9.9% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 26% 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 • Mar 19
Full year 2022 earnings released: EPS: NT$5.63 (vs NT$4.70 in FY 2021) Full year 2022 results: EPS: NT$5.63 (up from NT$4.70 in FY 2021). Revenue: NT$3.39b (up 9.9% from FY 2021). Net income: NT$286.1m (up 20% from FY 2021). Profit margin: 8.4% (up from 7.7% 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 36% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
No independent directors 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. No independent directors (6 non-independent directors). Vice President and Representative Director Gao Song was the last director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 12
Third quarter 2022 earnings released: EPS: NT$0.81 (vs NT$0.90 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.81 (down from NT$0.90 in 3Q 2021). Revenue: NT$522.0m (down 25% from 3Q 2021). Net income: NT$41.3m (down 9.7% from 3Q 2021). Profit margin: 7.9% (up from 6.6% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 04
Second quarter 2022 earnings released: EPS: NT$1.70 (vs NT$0.87 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.70 (up from NT$0.87 in 2Q 2021). Revenue: NT$871.9m (up 26% from 2Q 2021). Net income: NT$86.2m (up 94% from 2Q 2021). Profit margin: 9.9% (up from 6.4% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 28
Upcoming dividend of NT$2.50 per share Eligible shareholders must have bought the stock before 04 August 2022. Payment date: 01 September 2022. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 5.5%. Lower than top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (4.4%). Valuation Update With 7 Day Price Move • May 11
Investor sentiment improved over the past week After last week's 18% share price gain to NT$44.85, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 12x in the Leisure industry in Taiwan. Total returns to shareholders of 67% over the past three years. Reported Earnings • May 06
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: NT$2.02 (up from NT$1.23 in 1Q 2021). Revenue: NT$858.0m (up 20% from 1Q 2021). Net income: NT$102.8m (up 64% from 1Q 2021). Profit margin: 12% (up from 8.7% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.8%. Earnings per share (EPS) missed analyst estimates by 3.2%. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
No independent directors 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. No independent directors (6 non-independent directors). Vice President and Representative Director Gao Song was the last director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Feb 24
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: NT$4.70 (up from NT$2.50 in FY 2020). Revenue: NT$3.09b (up 38% from FY 2020). Net income: NT$239.0m (up 88% from FY 2020). Profit margin: 7.7% (up from 5.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.8%. Earnings per share (EPS) missed analyst estimates by 3.2%. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Feb 24
Dynamic Precision Industry Corporation, Annual General Meeting, May 26, 2022 Dynamic Precision Industry Corporation, Annual General Meeting, May 26, 2022. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS NT$0.90 (vs NT$0.50 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$697.5m (up 78% from 3Q 2020). Net income: NT$45.7m (up 80% from 3Q 2020). Profit margin: 6.6% (up from 6.5% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 17% per year. Upcoming Dividend • Aug 05
Upcoming dividend of NT$1.60 per share Eligible shareholders must have bought the stock before 12 August 2021. Payment date: 17 September 2021. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (2.6%). Reported Earnings • May 06
First quarter 2021 earnings released: EPS NT$1.23 (vs NT$0.83 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$716.6m (up 17% from 1Q 2020). Net income: NT$62.6m (up 48% from 1Q 2020). Profit margin: 8.7% (up from 6.9% in 1Q 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 and the company’s share price has also increased by 7% per year. Reported Earnings • Mar 23
Full year 2020 earnings released: EPS NT$2.50 (vs NT$3.30 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$2.23b (down 7.5% from FY 2019). Net income: NT$127.2m (down 24% from FY 2019). Profit margin: 5.7% (down from 6.9% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 11% per year. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment improved over the past week After last week's 16% share price gain to NT$35.10, the stock is trading at a trailing P/E ratio of 14x, up from the previous P/E ratio of 12.1x. This compares to an average P/E of 23x in the Leisure industry in Taiwan. Total returns to shareholders over the past three years are 79%. Reported Earnings • Feb 27
Full year 2020 earnings released: EPS NT$2.50 (vs NT$3.30 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$2.23b (down 7.5% from FY 2019). Net income: NT$127.2m (down 24% from FY 2019). Profit margin: 5.7% (down from 6.9% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 7% per year. Is New 90 Day High Low • Feb 20
New 90-day high: NT$29.60 The company is up 1.0% from its price of NT$29.20 on 20 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Leisure industry, which is up 6.0% over the same period. Is New 90 Day High Low • Dec 21
New 90-day low: NT$28.30 The company is down 4.0% from its price of NT$29.60 on 23 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Leisure industry, which is up 2.0% over the same period. Reported Earnings • Nov 06
Third quarter 2020 earnings released: EPS NT$0.50 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$391.1m (up 22% from 3Q 2019). Net income: NT$25.4m (up 314% from 3Q 2019). Profit margin: 6.5% (up from 1.9% 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 10% per year whereas the company’s share price has increased by 6% per year.