Reported Earnings • May 12
First quarter 2026 earnings released: NT$0.044 loss per share (vs NT$1.26 loss in 1Q 2025) First quarter 2026 results: NT$0.044 loss per share (improved from NT$1.26 loss in 1Q 2025). Revenue: NT$2.78b (flat on 1Q 2025). Net loss: NT$4.99m (loss narrowed 96% from 1Q 2025). Revenue is forecast to grow 8.4% p.a. on average during the next 2 years, compared to a 6.9% growth forecast for the Luxury industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. New Risk • Apr 04
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 30% 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 Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.6% net profit margin). Reported Earnings • Mar 14
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: NT$3.04 (down from NT$3.89 in FY 2024). Revenue: NT$19.4b (up 18% from FY 2024). Net income: NT$320.2m (down 20% from FY 2024). Profit margin: 1.6% (down from 2.4% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 19%. Revenue is forecast to grow 7.4% p.a. on average during the next 2 years, compared to a 6.4% growth forecast for the Luxury industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Announcement • Mar 11
Quang Viet Enterprise Co., Ltd., Annual General Meeting, Jun 17, 2026 Quang Viet Enterprise Co., Ltd., Annual General Meeting, Jun 17, 2026. Location: r floor no,607, jui kuang rd., neihu district, taipei city Taiwan Reported Earnings • Nov 07
Third quarter 2025 earnings released: EPS: NT$5.05 (vs NT$3.78 in 3Q 2024) Third quarter 2025 results: EPS: NT$5.05 (up from NT$3.78 in 3Q 2024). Revenue: NT$7.27b (up 10% from 3Q 2024). Net income: NT$518.2m (up 33% from 3Q 2024). Profit margin: 7.1% (up from 5.9% in 3Q 2024). The increase in margin was driven by higher revenue. 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 13% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$81.40, the stock trades at a trailing P/E ratio of 60.4x. Average trailing P/E is 19x in the Luxury industry in Taiwan. Total loss to shareholders of 26% over the past three years. New Risk • Aug 13
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. 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 (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Payout ratio: 239% Paying a dividend despite having no free cash flows. Earnings have declined by 6.4% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (0.8% net profit margin). Reported Earnings • Aug 08
Second quarter 2025 earnings released: NT$0.34 loss per share (vs NT$2.07 profit in 2Q 2024) Second quarter 2025 results: NT$0.34 loss per share (down from NT$2.07 profit in 2Q 2024). Revenue: NT$4.80b (up 16% from 2Q 2024). Net loss: NT$35.4m (down 117% from profit in 2Q 2024). 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 15% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jul 17
Upcoming dividend of NT$3.22 per share Eligible shareholders must have bought the stock before 24 July 2025. Payment date: 28 August 2025. Payout ratio is on the higher end at 85%, however this is supported by cash flows. Trailing yield: 6.5%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (4.7%). Reported Earnings • May 11
First quarter 2025 earnings released: NT$1.26 loss per share (vs NT$1.12 loss in 1Q 2024) First quarter 2025 results: NT$1.26 loss per share (further deteriorated from NT$1.12 loss in 1Q 2024). Revenue: NT$2.76b (up 16% from 1Q 2024). Net loss: NT$129.8m (loss widened 12% from 1Q 2024). 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 10% per year, which means it has not declined as severely as earnings. Announcement • May 01
Quang Viet Enterprise Co., Ltd. to Report Q1, 2025 Results on May 09, 2025 Quang Viet Enterprise Co., Ltd. announced that they will report Q1, 2025 results on May 09, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$83.90, the stock trades at a trailing P/E ratio of 21.6x. Average trailing P/E is 17x in the Luxury industry in Taiwan. Total loss to shareholders of 14% over the past three years. Reported Earnings • Mar 14
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: NT$3.89 (down from NT$7.10 in FY 2023). Revenue: NT$16.5b (flat on FY 2023). Net income: NT$402.0m (down 45% from FY 2023). Profit margin: 2.4% (down from 4.4% in FY 2023). Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) missed analyst estimates by 37%. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • Mar 06
Quang Viet Enterprise Co., Ltd., Annual General Meeting, Jun 17, 2025 Quang Viet Enterprise Co., Ltd., Annual General Meeting, Jun 17, 2025. Location: r floor no,607, jui kuang rd., neihu district, taipei city Taiwan Announcement • Feb 26
Quang Viet Enterprise Co., Ltd. to Report Fiscal Year 2024 Results on Mar 05, 2025 Quang Viet Enterprise Co., Ltd. announced that they will report fiscal year 2024 results on Mar 05, 2025 New Risk • Nov 10
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: 2.3% Last year net profit margin: 4.2% 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 Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 148% Cash payout ratio: 186% Minor Risk Profit margins are more than 30% lower than last year (2.3% net profit margin). Reported Earnings • Nov 10
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: NT$3.78 (down from NT$6.29 in 3Q 2023). Revenue: NT$6.58b (up 1.1% from 3Q 2023). Net income: NT$390.6m (down 40% from 3Q 2023). Profit margin: 5.9% (down from 10.0% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 34%. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Luxury industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 8% per year and the company’s share price has also fallen by 8% per year. Announcement • Oct 30
Quang Viet Enterprise Co., Ltd. to Report Q3, 2024 Results on Nov 06, 2024 Quang Viet Enterprise Co., Ltd. announced that they will report Q3, 2024 results on Nov 06, 2024 Upcoming Dividend • Aug 20
Upcoming dividend of NT$5.20 per share Eligible shareholders must have bought the stock before 27 August 2024. Payment date: 26 September 2024. Payout ratio is on the higher end at 81%, however this is supported by cash flows. Trailing yield: 4.7%. Within top quartile of Taiwanese dividend payers (4.4%). Higher than average of industry peers (3.1%). New Risk • Aug 13
New major risk - Revenue and earnings growth Earnings have declined by 0.1% 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 0.1% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: NT$2.07 (vs NT$2.47 in 2Q 2023) Second quarter 2024 results: EPS: NT$2.07 (down from NT$2.47 in 2Q 2023). Revenue: NT$4.13b (down 13% from 2Q 2023). Net income: NT$214.1m (down 16% from 2Q 2023). Profit margin: 5.2% (down from 5.4% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 1% per year. Announcement • Aug 01
Quang Viet Enterprise Co., Ltd. to Report Q2, 2024 Results on Aug 08, 2024 Quang Viet Enterprise Co., Ltd. announced that they will report Q2, 2024 results on Aug 08, 2024 Declared Dividend • Jun 17
Dividend of NT$5.20 announced Shareholders will receive a dividend of NT$5.20. Ex-date: 27th August 2024 Payment date: 26th September 2024 Dividend yield will be 4.6%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (81% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 33% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 12
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: NT$1.12 loss per share (further deteriorated from NT$0.45 loss in 1Q 2023). Revenue: NT$2.37b (down 11% from 1Q 2023). Net loss: NT$115.9m (loss widened 151% from 1Q 2023). Revenue missed analyst estimates by 17%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 9.4% growth forecast for the Luxury industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • May 02
Quang Viet Enterprise Co., Ltd. to Report Q1, 2024 Results on May 09, 2024 Quang Viet Enterprise Co., Ltd. announced that they will report Q1, 2024 results on May 09, 2024 Reported Earnings • Mar 09
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: NT$7.10 (down from NT$11.38 in FY 2022). Revenue: NT$16.6b (down 18% from FY 2022). Net income: NT$734.2m (down 38% from FY 2022). Profit margin: 4.4% (down from 5.9% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 16%. Earnings per share (EPS) also missed analyst estimates by 40%. Revenue is forecast to grow 9.7% p.a. on average during the next 2 years, compared to a 9.5% growth forecast for the Luxury industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Mar 07
Quang Viet Enterprise Co., Ltd., Annual General Meeting, Jun 13, 2024 Quang Viet Enterprise Co., Ltd., Annual General Meeting, Jun 13, 2024. Location: 4F., No.312, Sec. 2, New Taipei Blvd. Xinzhuang Dist New Taipei City Taiwan Agenda: To consider and report the 2023 Business Report; to consider and discuss the supervisors' Review Report of 2023 Financial Statements; to consider and approve the 2023 employees' and directors' remuneration; to acknowledge the 2023 Business Report and Financial Statements; to receive the 2023 earnings distribution, and to discuss other business matters. New Risk • Nov 12
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: 4.2% Last year net profit margin: 7.3% 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 Dividend is not well covered by earnings (92% payout ratio). Profit margins are more than 30% lower than last year (4.2% net profit margin). Upcoming Dividend • Aug 22
Upcoming dividend of NT$6.80 per share at 5.8% yield Eligible shareholders must have bought the stock before 29 August 2023. Payment date: 27 September 2023. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 5.8%. Within top quartile of Taiwanese dividend payers (5.6%). Higher than average of industry peers (4.6%). Reported Earnings • Aug 06
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: EPS: NT$2.48 (down from NT$3.23 in 2Q 2022). Revenue: NT$4.75b (down 1.5% from 2Q 2022). Net income: NT$255.6m (down 24% from 2Q 2022). Profit margin: 5.4% (down from 6.9% in 2Q 2022). Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) missed analyst estimates by 21%. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Board Change • Jul 24
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 Yong-Yi Tsai was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 16
Quang Viet Enterprise Co., Ltd. Announces the Change of Audit Committee Members Quang Viet Enterprise Co., Ltd. appointed Liu, Po-Liang,: Independent Director of the Company, Deputy Director-general of National Police Agency, Ministry of the Interior and; Tsai, Yong-Yi, Independent Director of the Company,@ President of Mega International Commercial Bank as Audit Committee members in place of Lee, Chin-Kung and Suen, Jy-Pyng. The changes will be effective from June 15, 2023. Price Target Changed • May 18
Price target increased by 15% to NT$205 Up from NT$178, the current price target is provided by 1 analyst. New target price is 75% above last closing price of NT$117. Stock is up 7.8% over the past year. The company is forecast to post earnings per share of NT$11.54 for next year compared to NT$11.38 last year. Reported Earnings • Mar 06
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: NT$11.38 (up from NT$6.10 in FY 2021). Revenue: NT$20.1b (up 54% from FY 2021). Net income: NT$1.18b (up 87% from FY 2021). Profit margin: 5.9% (up from 4.8% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 7.9%. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Board Change • Nov 16
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 an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 5 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Hung-Ta Fan 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. Price Target Changed • Oct 12
Price target increased to NT$193 Up from NT$178, the current price target is an average from 2 analysts. New target price is 34% above last closing price of NT$144. Stock is up 27% over the past year. The company is forecast to post earnings per share of NT$11.72 for next year compared to NT$6.10 last year. Major Estimate Revision • Oct 01
Consensus revenue estimates increase by 22% The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from NT$15.6b to NT$19.1b. EPS estimate increased from NT$8.98 to NT$11.71 per share. Net income forecast to grow 74% next year vs 23% growth forecast for Luxury industry in Taiwan. Consensus price target up from NT$167 to NT$178. Share price rose 5.4% to NT$136 over the past week. Upcoming Dividend • Aug 18
Upcoming dividend of NT$4.20 per share Eligible shareholders must have bought the stock before 25 August 2022. Payment date: 28 September 2022. Payout ratio is a comfortable 57% but the company is paying out more than the cash it is generating. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (6.4%). Lower than average of industry peers (3.8%). Reported Earnings • Aug 16
Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2022 results: EPS: NT$3.23 (up from NT$3.10 in 2Q 2021). Revenue: NT$4.82b (up 42% from 2Q 2021). Net income: NT$334.1m (up 4.4% from 2Q 2021). Profit margin: 6.9% (down from 9.4% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.0%. Earnings per share (EPS) missed analyst estimates by 24%. Over the next year, revenue is forecast to grow 4.2%, compared to a 16% growth forecast for the Luxury industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 18% 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 • May 08
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: NT$0.10 (up from NT$1.05 loss in 1Q 2021). Revenue: NT$3.01b (up 94% from 1Q 2021). Net income: NT$10.0m (up NT$119.0m from 1Q 2021). Profit margin: 0.3% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 5.9%. Earnings per share (EPS) missed analyst estimates by 43%. Over the next year, revenue is forecast to grow 11%, compared to a 19% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 20% 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. Board Change • Apr 27
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. 8 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Jin Gong Li 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 • Mar 11
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: NT$6.10 (up from NT$5.20 in FY 2020). Revenue: NT$13.0b (up 6.8% from FY 2020). Net income: NT$630.5m (up 17% from FY 2020). Profit margin: 4.8% (up from 4.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.6%. Over the next year, revenue is forecast to grow 22%, compared to a 15% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 20% 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. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS NT$2.77 (vs NT$2.71 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$4.38b (down 19% from 3Q 2020). Net income: NT$286.1m (up 2.1% from 3Q 2020). Profit margin: 6.5% (up from 5.2% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 09
Upcoming dividend of NT$3.20 per share Eligible shareholders must have bought the stock before 16 September 2021. Payment date: 21 October 2021. Trailing yield: 2.9%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.5%). Price Target Changed • Aug 27
Price target decreased to NT$133 Down from NT$167, the current price target is an average from 2 analysts. New target price is 17% above last closing price of NT$113. Stock is down 4.6% over the past year. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$3.09 (vs NT$2.35 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$3.40b (up 7.1% from 2Q 2020). Net income: NT$320.0m (up 32% from 2Q 2020). Profit margin: 9.4% (up from 7.6% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 12% 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. Reported Earnings • May 07
First quarter 2021 earnings released: NT$1.05 loss per share (vs NT$0.53 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: NT$1.55b (down 16% from 1Q 2020). Net loss: NT$109.0m (loss widened 100% from 1Q 2020). 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 3% per year, which means it is well ahead of earnings. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS NT$5.20 (vs NT$9.73 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$12.2b (down 25% from FY 2019). Net income: NT$537.3m (down 47% from FY 2019). Profit margin: 4.4% (down from 6.2% 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 5% per year whereas the company’s share price has remained flat. Is New 90 Day High Low • Mar 03
New 90-day high: NT$116 The company is up 11% from its price of NT$105 on 03 December 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Luxury industry, which is up 1.0% over the same period. Major Estimate Revision • Feb 27
Analysts update estimates The 2020 consensus earning per share (EPS) estimate increased from NT$8.40 to NT$11.76. Revenue estimate for the same period was approximately flat at NT$15.0b. Net income is expected to grow by 85% next year compared to 16% growth forecast for the Luxury industry in Taiwan. The consensus price target of NT$168 was unchanged from the last update. Share price is up 6.6% to NT$114 over the past week. Is New 90 Day High Low • Dec 15
New 90-day low: NT$103 The company is down 8.0% from its price of NT$112 on 16 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$764 per share. Major Estimate Revision • Nov 19
Analysts update estimates The 2020 consensus earning per share (EPS) estimate increased from NT$9.07 to NT$10.36. Revenue estimate for the same period was approximately flat at NT$14.9b. Net income is expected to grow by 79% next year compared to 13% growth forecast for the Luxury industry in Taiwan. The consensus price target of NT$165 was unchanged from the last update. Share price is up 3.9% to NT$108 over the past week. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$2.71 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$5.42b (down 20% from 3Q 2019). Net income: NT$280.3m (down 58% from 3Q 2019). Profit margin: 5.2% (down from 9.9% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Nov 14
Revenue and earnings miss expectations Revenue missed analyst estimates by 8.6%. Earnings per share (EPS) also missed analyst estimates by 52%. Over the next year, revenue is forecast to grow 2.6%, compared to a 3.0% growth forecast for the Luxury industry in Taiwan. Is New 90 Day High Low • Nov 12
New 90-day low: NT$104 The company is down 19% from its price of NT$128 on 14 August 2020. The Taiwanese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$2,407 per share. Is New 90 Day High Low • Oct 22
New 90-day low: NT$107 The company is down 18% from its price of NT$131 on 24 July 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$1,161 per share. Is New 90 Day High Low • Sep 24
New 90-day low: NT$111 The company is down 19% from its price of NT$137 on 24 June 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$1,141 per share. 
