Reported Earnings • May 07
First quarter 2026 earnings released: EPS: NT$1.00 (vs NT$1.59 in 1Q 2025) First quarter 2026 results: EPS: NT$1.00 (down from NT$1.59 in 1Q 2025). Revenue: NT$747.3m (up 5.7% from 1Q 2025). Net income: NT$47.5m (down 14% from 1Q 2025). Profit margin: 6.4% (down from 7.9% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 31% 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. Announcement • Mar 16
Grand Hall Enterprise Co., Ltd., Annual General Meeting, Jun 16, 2026 Grand Hall Enterprise Co., Ltd., Annual General Meeting, Jun 16, 2026, at 09:00 Taipei Standard Time. Location: 9 floor no,298, jui kuang rd., neihu district, taipei city Taiwan Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: NT$1.16 (vs NT$5.06 in FY 2024) Full year 2025 results: EPS: NT$1.16 (down from NT$5.06 in FY 2024). Revenue: NT$2.98b (down 5.4% from FY 2024). Net income: NT$40.5m (down 77% from FY 2024). Profit margin: 1.4% (down from 5.6% in FY 2024). The decrease in margin was driven by lower revenue. 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 5% per year, which means it has not declined as severely as earnings. Board Change • Feb 26
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. 4 experienced directors. 4 highly experienced directors. No independent directors (4 non-independent directors). Supervisor Chia-Fu Chang was the last director to join the board, commencing their role in 2002. 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 2025 earnings released: EPS: NT$0.05 (vs NT$1.43 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.05 (down from NT$1.43 in 3Q 2024). Revenue: NT$717.8m (down 13% from 3Q 2024). Net income: NT$1.60m (down 97% from 3Q 2024). Profit margin: 0.2% (down from 6.1% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 21% 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. New Risk • Aug 17
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: 2.9% Last year net profit margin: 5.6% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (2.9% net profit margin). Market cap is less than US$100m (NT$1.65b market cap, or US$55.0m). Upcoming Dividend • Jun 24
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 01 July 2025. Payment date: 23 July 2025. Payout ratio is a comfortable 72% and this is well supported by cash flows. Trailing yield: 7.9%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (4.7%). Reported Earnings • May 17
First quarter 2025 earnings released: EPS: NT$1.59 (vs NT$0.38 in 1Q 2024) First quarter 2025 results: EPS: NT$1.59 (up from NT$0.38 in 1Q 2024). Revenue: NT$707.1m (up 8.5% from 1Q 2024). Net income: NT$55.5m (up 321% from 1Q 2024). Profit margin: 7.9% (up from 2.0% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$47.55, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 14x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 79% over the past three years. Reported Earnings • Mar 21
Full year 2024 earnings released: EPS: NT$5.06 (vs NT$5.52 in FY 2023) Full year 2024 results: EPS: NT$5.06 (down from NT$5.52 in FY 2023). Revenue: NT$3.15b (up 8.7% from FY 2023). Net income: NT$176.9m (down 8.3% from FY 2023). Profit margin: 5.6% (down from 6.7% 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 2% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 14
Grand Hall Enterprise Co., Ltd., Annual General Meeting, Jun 16, 2025 Grand Hall Enterprise Co., Ltd., Annual General Meeting, Jun 16, 2025, at 09:00 Taipei Standard Time. Location: 9 floor no,298, jui kuang rd., neihu district, taipei city Taiwan Reported Earnings • Nov 19
Third quarter 2024 earnings released: EPS: NT$1.43 (vs NT$1.24 in 3Q 2023) Third quarter 2024 results: EPS: NT$1.43 (up from NT$1.24 in 3Q 2023). Revenue: NT$822.4m (up 11% from 3Q 2023). Net income: NT$50.1m (up 16% from 3Q 2023). Profit margin: 6.1% (up from 5.9% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 21
Upcoming dividend of NT$3.00 per share Eligible shareholders must have bought the stock before 28 August 2024. Payment date: 20 September 2024. Payout ratio is a comfortable 35% but the company is paying out more than the cash it is generating. Trailing yield: 5.2%. Within top quartile of Taiwanese dividend payers (4.3%). Higher than average of industry peers (3.0%). Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: NT$2.89 (vs NT$4.74 in 2Q 2023) Second quarter 2024 results: EPS: NT$2.89 (down from NT$4.74 in 2Q 2023). Revenue: NT$871.0m (up 8.8% from 2Q 2023). Net income: NT$87.7m (down 39% from 2Q 2023). Profit margin: 10% (down from 18% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 05
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 11 July 2024. Payment date: 01 August 2024. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 5.2%. Within top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (3.2%). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.43 (vs NT$0.71 loss in 1Q 2023) First quarter 2024 results: EPS: NT$0.43 (up from NT$0.71 loss in 1Q 2023). Revenue: NT$651.5m (up 16% from 1Q 2023). Net income: NT$13.2m (up NT$34.9m from 1Q 2023). Profit margin: 2.0% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 28% per year. New Risk • Mar 17
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 43% 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 Dividend is not well covered by earnings (185% payout ratio). Large one-off items impacting financial results. Market cap is less than US$100m (NT$2.34b market cap, or US$74.1m). Announcement • Mar 15
Grand Hall Enterprise Co., Ltd., Annual General Meeting, Jun 18, 2024 Grand Hall Enterprise Co., Ltd., Annual General Meeting, Jun 18, 2024. Reported Earnings • Mar 14
Full year 2023 earnings released: EPS: NT$6.34 (vs NT$6.94 in FY 2022) Full year 2023 results: EPS: NT$6.34 (down from NT$6.94 in FY 2022). Revenue: NT$2.90b (down 13% from FY 2022). Net income: NT$192.9m (down 8.6% from FY 2022). Profit margin: 6.7% (up from 6.4% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 23% per year. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$73.80, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 17x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 143% over the past three years. Upcoming Dividend • Sep 07
Upcoming dividend of NT$2.00 per share at 6.8% yield Eligible shareholders must have bought the stock before 14 September 2023. Payment date: 04 October 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 6.8%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.5%). New Risk • Aug 19
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 Dividend is not well covered by earnings (142% payout ratio). Large one-off items impacting financial results. Market cap is less than US$100m (NT$1.77b market cap, or US$55.4m). Buying Opportunity • Aug 14
Now 20% undervalued Over the last 90 days, the stock is up 6.2%. The fair value is estimated to be NT$72.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years. Earnings per share has grown by 40%. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$4.74 (vs NT$3.97 in 2Q 2022) Second quarter 2023 results: EPS: NT$4.74 (up from NT$3.97 in 2Q 2022). Revenue: NT$800.4m (down 20% from 2Q 2022). Net income: NT$144.0m (up 19% from 2Q 2022). Profit margin: 18% (up from 12% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 06
Upcoming dividend of NT$6.00 per share at 5.0% yield Eligible shareholders must have bought the stock before 13 July 2023. Payment date: 02 August 2023. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 5.0%. Lower than top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (4.0%). Reported Earnings • Mar 29
Full year 2022 earnings released: EPS: NT$6.94 (vs NT$3.61 in FY 2021) Full year 2022 results: EPS: NT$6.94 (up from NT$3.61 in FY 2021). Revenue: NT$3.31b (up 3.1% from FY 2021). Net income: NT$211.2m (up 93% from FY 2021). Profit margin: 6.4% (up from 3.4% in FY 2021). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 22% 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. 2 experienced directors. 10 highly experienced directors. No independent directors (8 non-independent directors). General Manager and Director Shen-Jen Lin was the last director to join the board, commencing their role in 2004. 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$2.75 (vs NT$0.72 in 3Q 2021) Third quarter 2022 results: EPS: NT$2.75 (up from NT$0.72 in 3Q 2021). Revenue: NT$823.4m (down 4.3% from 3Q 2021). Net income: NT$83.7m (up 284% from 3Q 2021). Profit margin: 10% (up from 2.5% 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 51% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Oct 06
Now 21% undervalued Over the last 90 days, the stock is up 7.9%. The fair value is estimated to be NT$60.81, 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 36%. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$3.97 (vs NT$2.14 in 2Q 2021) Second quarter 2022 results: EPS: NT$3.97 (up from NT$2.14 in 2Q 2021). Revenue: NT$1.00b (up 27% from 2Q 2021). Net income: NT$120.7m (up 85% from 2Q 2021). Profit margin: 12% (up from 8.3% 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 36% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improved over the past week After last week's 17% share price gain to NT$63.00, the stock trades at a trailing P/E ratio of 12.1x. Average trailing P/E is 13x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 91% over the past three years. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improved over the past week After last week's 19% share price gain to NT$51.10, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 13x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 54% over the past three years. Upcoming Dividend • Jul 07
Upcoming dividend of NT$3.00 per share Eligible shareholders must have bought the stock before 14 July 2022. Payment date: 03 August 2022. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 7.3%. Within top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (5.1%). Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improved over the past week After last week's 16% share price gain to NT$45.55, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 14x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 30% over the past three years. Reported Earnings • May 14
First quarter 2022 earnings released: EPS: NT$1.35 (vs NT$0.27 loss in 1Q 2021) First quarter 2022 results: EPS: NT$1.35 (up from NT$0.27 loss in 1Q 2021). Revenue: NT$835.8m (up 31% from 1Q 2021). Net income: NT$41.0m (up NT$49.2m from 1Q 2021). Profit margin: 4.9% (up from net loss in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. 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. 10 highly experienced directors. No independent directors (7 non-independent directors). General Manager and Director Shen-Jen Lin was the last director to join the board, commencing their role in 2004. 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 • Mar 28
Full year 2021 earnings released: EPS: NT$3.60 (vs NT$2.84 in FY 2020) Full year 2021 results: EPS: NT$3.60 (up from NT$2.84 in FY 2020). Revenue: NT$3.21b (up 15% from FY 2020). Net income: NT$109.6m (up 27% from FY 2020). Profit margin: 3.4% (up from 3.1% 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 8% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 17
Third quarter 2021 earnings released: EPS NT$0.72 (vs NT$0.60 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: NT$860.6m (up 17% from 3Q 2020). Net income: NT$21.8m (up 20% from 3Q 2020). Profit margin: 2.5% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$2.14 (vs NT$2.33 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$788.3m (up 6.5% from 2Q 2020). Net income: NT$65.1m (down 8.0% from 2Q 2020). Profit margin: 8.3% (down from 9.6% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 17% 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. Upcoming Dividend • Jul 09
Upcoming dividend of NT$2.50 per share Eligible shareholders must have bought the stock before 16 July 2021. Payment date: 02 August 2021. Trailing yield: 6.4%. Within top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (3.6%). Reported Earnings • May 08
First quarter 2021 earnings released: NT$0.27 loss per share (vs NT$0.42 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: NT$640.3m (up 24% from 1Q 2020). Net loss: NT$8.22m (loss narrowed 36% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 32% 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. Reported Earnings • Mar 25
Full year 2020 earnings released: EPS NT$2.84 (vs NT$1.72 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$2.80b (up 14% from FY 2019). Net income: NT$86.5m (up 65% from FY 2019). Profit margin: 3.1% (up from 2.2% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 45% 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. Is New 90 Day High Low • Mar 04
New 90-day high: NT$39.45 The company is up 3.0% from its price of NT$38.20 on 04 December 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 13% over the same period. Is New 90 Day High Low • Jan 20
New 90-day low: NT$37.10 The company is down 3.0% from its price of NT$38.20 on 23 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 11% over the same period. Is New 90 Day High Low • Dec 25
New 90-day low: NT$37.40 The company is down 3.0% from its price of NT$38.40 on 25 September 2020. The Taiwanese market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 14% over the same period. Is New 90 Day High Low • Dec 08
New 90-day low: NT$37.90 The company is down 3.0% from its price of NT$39.25 on 09 September 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 6.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.60 The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2020 results: Revenue: NT$733.8m (up 13% from 3Q 2019). Net income: NT$18.2m (up 8.4% from 3Q 2019). Profit margin: 2.5% (down from 2.6% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 56% 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.