Reported Earnings • May 17
First quarter 2026 earnings released: EPS: NT$0.88 (vs NT$1.05 in 1Q 2025) First quarter 2026 results: EPS: NT$0.88 (down from NT$1.05 in 1Q 2025). Revenue: NT$348.0m (down 11% from 1Q 2025). Net income: NT$57.9m (down 17% from 1Q 2025). Profit margin: 17% (down from 18% 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 46% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Apr 08
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 15 April 2026. Payment date: 08 May 2026. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 12%. Within top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (5.0%). Reported Earnings • Apr 02
Full year 2025 earnings released: EPS: NT$2.72 (vs NT$7.22 in FY 2024) Full year 2025 results: EPS: NT$2.72 (down from NT$7.22 in FY 2024). Revenue: NT$1.47b (down 25% from FY 2024). Net income: NT$179.8m (down 62% from FY 2024). Profit margin: 12% (down from 24% 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 42% 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 13
Big Sun Shine CO., LTD. announces Annual dividend, payable on May 08, 2026 Big Sun Shine CO., LTD. announced Annual dividend of TWD 0.5000 per share payable on May 08, 2026, ex-date on April 15, 2026 and record date on April 16, 2026. Announcement • Mar 12
Big Sun Shine CO., LTD., Annual General Meeting, Jun 26, 2026 Big Sun Shine CO., LTD., Annual General Meeting, Jun 26, 2026. Location: 3 floor no,2, fu hsing 1st rd., gueishan district, taoyuan city Taiwan Reported Earnings • Nov 15
Third quarter 2025 earnings released: EPS: NT$1.54 (vs NT$1.21 in 3Q 2024) Third quarter 2025 results: EPS: NT$1.54 (up from NT$1.21 in 3Q 2024). Revenue: NT$347.3m (down 34% from 3Q 2024). Net income: NT$101.5m (up 27% from 3Q 2024). Profit margin: 29% (up from 15% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. New Risk • Aug 18
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: 12% Last year net profit margin: 25% 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 High level of non-cash earnings (24% accrual ratio). Minor Risks Dividend is not well covered by cash flows (171% cash payout ratio). Profit margins are more than 30% lower than last year (12% net profit margin). Market cap is less than US$100m (NT$2.23b market cap, or US$74.4m). Reported Earnings • Aug 18
Second quarter 2025 earnings released: NT$1.16 loss per share (vs NT$2.27 profit in 2Q 2024) Second quarter 2025 results: NT$1.16 loss per share (down from NT$2.27 profit in 2Q 2024). Revenue: NT$368.4m (down 30% from 2Q 2024). Net loss: NT$76.6m (down 151% from profit in 2Q 2024). 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 18% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Jul 03
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 26% to NT$40.40. The fair value is estimated to be NT$52.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has declined by 14%. Upcoming Dividend • Jun 26
Upcoming dividend of NT$3.60 per share Eligible shareholders must have bought the stock before 03 July 2025. Payment date: 25 July 2025. Payout ratio is a comfortable 55% and the cash payout ratio is 98%. Trailing yield: 8.2%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (4.7%). Buy Or Sell Opportunity • Jun 11
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 30% to NT$41.15. The fair value is estimated to be NT$52.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has declined by 14%. Reported Earnings • May 18
First quarter 2025 earnings released: EPS: NT$1.05 (vs NT$1.74 in 1Q 2024) First quarter 2025 results: EPS: NT$1.05 (down from NT$1.74 in 1Q 2024). Revenue: NT$390.9m (down 7.2% from 1Q 2024). Net income: NT$69.4m (down 40% from 1Q 2024). Profit margin: 18% (down from 27% in 1Q 2024). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 13% per year. Declared Dividend • May 12
Dividend increased to NT$3.60 Dividend of NT$3.60 is 80% higher than last year. Ex-date: 3rd July 2025 Payment date: 25th July 2025 Dividend yield will be 8.1%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 100% per year over the past 2 years and payments have been stable during that time. Earnings per share has grown by 41% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 01
Big Sun Shine CO., LTD. to Report Q1, 2025 Results on May 09, 2025 Big Sun Shine 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$44.55, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 17x in the Luxury industry in Taiwan. Total loss to shareholders of 28% over the past three years. New Risk • Apr 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.26b (US$98.8m) 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 High level of non-cash earnings (76% accrual ratio). Minor Risk Market cap is less than US$100m (NT$3.26b market cap, or US$98.8m). Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$7.22 (vs NT$7.90 in FY 2023) Full year 2024 results: EPS: NT$7.22. Revenue: NT$1.96b (up 53% from FY 2023). Net income: NT$476.9m (up 72% from FY 2023). Profit margin: 24% (up from 22% in FY 2023). The increase in margin was driven by higher revenue. Announcement • Mar 12
Big Sun Shine CO., LTD., Annual General Meeting, Jun 25, 2025 Big Sun Shine CO., LTD., Annual General Meeting, Jun 25, 2025. Location: 3 floor no,2, fu hsing 1st rd., gueishan district, taoyuan city Taiwan Announcement • Feb 28
Big Sun Shine CO., LTD. to Report Q4, 2024 Results on Mar 10, 2025 Big Sun Shine CO., LTD. announced that they will report Q4, 2024 results on Mar 10, 2025 New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 43% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (78% accrual ratio). Shareholders have been substantially diluted in the past year (43% increase in shares outstanding). Minor Risk Dividend is not well covered by cash flows (97% cash payout ratio). Reported Earnings • Nov 19
Third quarter 2024 earnings released: EPS: NT$1.21 (vs NT$2.33 in 3Q 2023) Third quarter 2024 results: EPS: NT$1.21. Revenue: NT$522.0m (up 80% from 3Q 2023). Net income: NT$80.1m (up 3.0% from 3Q 2023). Profit margin: 15% (down from 27% in 3Q 2023). The decrease in margin was driven by higher expenses. Announcement • Nov 06
Big Sun Shine CO., LTD. to Report Q3, 2024 Results on Nov 13, 2024 Big Sun Shine CO., LTD. announced that they will report Q3, 2024 results on Nov 13, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$2.27 (vs NT$3.37 in 2Q 2023) Second quarter 2024 results: EPS: NT$2.27. Revenue: NT$524.0m (up 67% from 2Q 2023). Net income: NT$149.6m (up 71% from 2Q 2023). Profit margin: 29% (in line with 2Q 2023). Announcement • Aug 01
Big Sun Shine CO., LTD. to Report Q2, 2024 Results on Aug 08, 2024 Big Sun Shine CO., LTD. announced that they will report Q2, 2024 results on Aug 08, 2024 Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$69.50, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 24x in the Luxury industry in Taiwan. Total returns to shareholders of 107% over the past three years. Upcoming Dividend • Jul 03
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 10 July 2024. Payment date: 01 August 2024. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (4.2%). In line with average of industry peers (3.2%). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$1.74 (vs NT$2.52 in 1Q 2023) First quarter 2024 results: EPS: NT$1.74. Revenue: NT$421.4m (up 24% from 1Q 2023). Net income: NT$115.0m (up 76% from 1Q 2023). Profit margin: 27% (up from 19% in 1Q 2023). The increase in margin was driven by higher revenue. Announcement • May 02
Big Sun Shine CO., LTD. to Report Q1, 2024 Results on May 10, 2024 Big Sun Shine CO., LTD. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 10, 2024 Announcement • Mar 24
Big Sun Shine CO., LTD., Annual General Meeting, Jun 25, 2024 Big Sun Shine CO., LTD., Annual General Meeting, Jun 25, 2024. Reported Earnings • Mar 18
Full year 2023 earnings released: EPS: NT$7.90 (vs NT$11.82 in FY 2022) Full year 2023 results: EPS: NT$7.90 (down from NT$11.82 in FY 2022). Revenue: NT$1.29b (up 7.6% from FY 2022). Net income: NT$277.9m (down 9.6% from FY 2022). Profit margin: 22% (down from 26% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. New Risk • Feb 01
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 7.1% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.1% average weekly change). Shareholders have been substantially diluted in the past year (77% increase in shares outstanding). Minor Risk Market cap is less than US$100m (NT$2.27b market cap, or US$72.5m). Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$43.50, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 22x in the Luxury industry in Taiwan. Total returns to shareholders of 19% over the past three years. New Risk • Dec 09
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 77% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (77% increase in shares outstanding). Minor Risk Market cap is less than US$100m (NT$2.07b market cap, or US$65.9m). Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$41.35, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 22x in the Luxury industry in Taiwan. Total returns to shareholders of 80% over the past three years. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$3.36 (vs NT$3.46 in 2Q 2022) Second quarter 2023 results: EPS: NT$3.36 (down from NT$3.46 in 2Q 2022). Revenue: NT$313.6m (up 5.1% from 2Q 2022). Net income: NT$87.6m (down 2.6% from 2Q 2022). Profit margin: 28% (down from 30% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: NT$11.82 (vs NT$3.66 in FY 2021) Full year 2022 results: EPS: NT$11.82 (up from NT$3.66 in FY 2021). Revenue: NT$1.20b (up 150% from FY 2021). Net income: NT$307.5m (up 274% from FY 2021). Profit margin: 26% (up from 17% 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 119% per year but the company’s share price has only increased by 105% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$55.20, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 14x in the Luxury industry in Taiwan. Total returns to shareholders of 806% over the past three years. 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. No experienced directors. 8 highly experienced directors. No independent directors (6 non-independent directors). Director Lai Shun Lin was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improved over the past week After last week's 17% share price gain to NT$61.50, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 15x in the Luxury industry in Taiwan. Total returns to shareholders of 1,225% over the past three years. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$3.45 (vs NT$0.028 loss in 2Q 2021) Second quarter 2022 results: EPS: NT$3.45 (up from NT$0.028 loss in 2Q 2021). Revenue: NT$298.2m (up NT$259.8m from 2Q 2021). Net income: NT$89.9m (up NT$90.5m from 2Q 2021). Profit margin: 30% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 134% per year whereas the company’s share price has increased by 135% per year. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$2.63 (vs NT$0.46 in 1Q 2021) First quarter 2022 results: EPS: NT$2.63 (up from NT$0.46 in 1Q 2021). Revenue: NT$266.9m (up NT$223.5m from 1Q 2021). Net income: NT$68.3m (up NT$61.0m from 1Q 2021). Profit margin: 26% (up from 17% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 133% per year but the company’s share price has only increased by 117% 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. No experienced directors. 8 highly experienced directors. No independent directors (6 non-independent directors). Director Lai Shun Lin was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improved over the past week After last week's 20% share price gain to NT$75.90, the stock trades at a trailing P/E ratio of 24x. Average trailing P/E is 18x in the Luxury industry in Taiwan. Total returns to shareholders of 1,017% over the past three years. Reported Earnings • Mar 30
Full year 2021 earnings released: EPS: NT$3.66 (vs NT$0.23 in FY 2020) Full year 2021 results: EPS: NT$3.66 (up from NT$0.23 in FY 2020). Revenue: NT$478.7m (up 185% from FY 2020). Net income: NT$82.3m (up NT$78.6m from FY 2020). Profit margin: 17% (up from 2.2% 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 124% per year but the company’s share price has only increased by 100% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment improved over the past week After last week's 21% share price gain to NT$64.60, the stock trades at a trailing P/E ratio of 36.4x. Average trailing P/E is 21x in the Luxury industry in Taiwan. Total returns to shareholders of 542% over the past three years. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$1.03 (vs NT$0.017 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$135.1m (up 272% from 3Q 2020). Net income: NT$26.7m (up NT$26.4m from 3Q 2020). Profit margin: 20% (up from 0.7% 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 127% per year but the company’s share price has only increased by 76% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 21
Investor sentiment improved over the past week After last week's 16% share price gain to NT$43.55, the stock trades at a trailing P/E ratio of 57.2x. Average trailing P/E is 16x in the Luxury industry in Taiwan. Total returns to shareholders of 312% over the past three years. Reported Earnings • Aug 19
Second quarter 2021 earnings released: NT$0.03 loss per share (vs NT$0.42 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: NT$38.4m (up 138% from 2Q 2020). Net loss: NT$609.0k (loss narrowed 91% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 119% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 23
Investor sentiment improved over the past week After last week's 15% share price gain to NT$33.45, the stock trades at a trailing P/E ratio of 39.3x. Average trailing P/E is 19x in the Luxury industry in Taiwan. Total returns to shareholders of 39% over the past three years. Reported Earnings • May 19
First quarter 2021 earnings released: EPS NT$0.46 (vs NT$0.17 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$43.4m (up NT$36.4m from 1Q 2020). Net income: NT$7.33m (up NT$10.0m from 1Q 2020). Profit margin: 17% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Mar 16
New 90-day high: NT$40.20 The company is up 66% from a price of NT$24.25 on 16 December 2020. Outperformed the Taiwanese market which is up 15% over the last 90 days. Exceeded the Luxury industry, which is up 7.0% over the same period. Reported Earnings • Feb 24
Full year 2020 earnings released: EPS NT$0.23 (vs NT$1.28 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$168.1m (up 197% from FY 2019). Net income: NT$3.68m (up NT$24.2m from FY 2019). Profit margin: 2.2% (up from net loss in FY 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 21
New 90-day high: NT$40.00 The company is up 56% from its price of NT$25.70 on 23 October 2020. The Taiwanese market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is down 1.0% over the same period. Is New 90 Day High Low • Dec 21
New 90-day high: NT$31.90 The company is up 20% from its price of NT$26.55 on 22 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 3.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.02 The company reported a decent third quarter result with improved revenues, although earnings and profit margins were weaker. Third quarter 2020 results: Revenue: NT$36.3m (up 146% from 3Q 2019). Net income: NT$269.0k (down 97% from 3Q 2019). Profit margin: 0.7% (down from 55% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 05
New 90-day high: NT$30.50 The company is up 64% from its price of NT$18.65 on 07 July 2020. The Taiwanese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is down 1.0% over the same period.