New Risk • Jun 18
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.7% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (27% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • May 09
First quarter 2026 earnings released First quarter 2026 results: Revenue: NT$2.66b (up 78% from 1Q 2025). Net income: NT$235.9m (up 171% from 1Q 2025). Profit margin: 8.9% (up from 5.8% in 1Q 2025). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • May 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$82.00, the stock trades at a trailing P/E ratio of 33.8x. Average trailing P/E is 18x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 373% over the past three years. Announcement • Mar 16
Ability Enterprise Co., Ltd., Annual General Meeting, Jun 25, 2026 Ability Enterprise Co., Ltd., Annual General Meeting, Jun 25, 2026. Location: 2 floor no,1, wu ch`uan rd., wugu district, new taipei city Taiwan Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: NT$2.44 (vs NT$1.70 in FY 2024) Full year 2025 results: EPS: NT$2.44 (up from NT$1.70 in FY 2024). Revenue: NT$9.91b (up 60% from FY 2024). Net income: NT$787.8m (up 44% from FY 2024). Profit margin: 8.0% (down from 8.8% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 06
Ability Enterprise Co., Ltd. has filed a Follow-on Equity Offering in the amount of TWD 67.32 million. Ability Enterprise Co., Ltd. has filed a Follow-on Equity Offering in the amount of TWD 67.32 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 1,020,000
Price\Range: TWD 66 Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$80.30, the stock trades at a trailing P/E ratio of 43.5x. Average trailing P/E is 17x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 354% over the past three years. New Risk • Feb 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: NT$0.89 (vs NT$0.43 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.89 (up from NT$0.43 in 3Q 2024). Revenue: NT$2.74b (up 60% from 3Q 2024). Net income: NT$285.5m (up 107% from 3Q 2024). Profit margin: 10% (up from 8.1% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 10
Upcoming dividend of NT$0.60 per share Eligible shareholders must have bought the stock before 17 September 2025. Payment date: 17 October 2025. Payout ratio is a comfortable 54% but the company is paying out more than the cash it is generating. Trailing yield: 1.0%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (4.2%). Board Change • Sep 01
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Hsiao-Wei Chao was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Aug 14
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: 6.3% Last year net profit margin: 10% 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 Share price has been volatile over the past 3 months (6.3% average weekly change). Profit margins are more than 30% lower than last year (6.3% net profit margin). Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: NT$0.41 (vs NT$0.51 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.41 (down from NT$0.51 in 2Q 2024). Revenue: NT$2.33b (up 52% from 2Q 2024). Net income: NT$115.7m (down 20% from 2Q 2024). Profit margin: 5.0% (down from 9.4% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$67.70, the stock trades at a trailing P/E ratio of 40.8x. Average trailing P/E is 14x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 179% over the past three years. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$53.90, the stock trades at a trailing P/E ratio of 32.5x. Average trailing P/E is 15x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 154% over the past three years. New Risk • May 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 9.0% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. This is currently the only risk that has been identified for the company. Reported Earnings • May 12
First quarter 2025 earnings released: EPS: NT$0.30 (vs NT$0.53 in 1Q 2024) First quarter 2025 results: EPS: NT$0.30 (down from NT$0.53 in 1Q 2024). Revenue: NT$1.49b (up 19% from 1Q 2024). Net income: NT$87.2m (down 43% from 1Q 2024). Profit margin: 5.8% (down from 12% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 28% per year whereas the company’s share price has increased by 32% per year. Announcement • May 01
Ability Enterprise Co., Ltd. to Report Q1, 2025 Results on May 09, 2025 Ability 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 19% After last week's 19% share price decline to NT$41.75, the stock trades at a trailing P/E ratio of 22.1x. Average trailing P/E is 14x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 81% over the past three years. New Risk • Apr 07
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 469% Dividend yield: 1.9% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (469% cash payout ratio). Share price has been volatile over the past 3 months (6.3% average weekly change). Reported Earnings • Mar 12
Full year 2024 earnings released: EPS: NT$1.90 (vs NT$0.96 in FY 2023) Full year 2024 results: EPS: NT$1.90 (up from NT$0.96 in FY 2023). Revenue: NT$6.18b (up 25% from FY 2023). Net income: NT$545.5m (up 99% from FY 2023). Profit margin: 8.8% (up from 5.6% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 10
Ability Enterprise Co., Ltd., Annual General Meeting, Jun 25, 2025 Ability Enterprise Co., Ltd., Annual General Meeting, Jun 25, 2025. Location: 2 floor no,1, wu ch`uan rd., wugu district, new taipei city Taiwan Announcement • Feb 28
Ability Enterprise Co., Ltd. to Report Q4, 2024 Results on Mar 07, 2025 Ability Enterprise Co., Ltd. announced that they will report Q4, 2024 results on Mar 07, 2025 New Risk • Feb 19
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 8.0% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$63.60, the stock trades at a trailing P/E ratio of 38.6x. Average trailing P/E is 16x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 149% over the past three years. New Risk • Dec 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. This is currently the only risk that has been identified for the company. New Risk • Dec 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 10
Third quarter 2024 earnings released: EPS: NT$0.48 (vs NT$0.84 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.48 (down from NT$0.84 in 3Q 2023). Revenue: NT$1.71b (up 8.3% from 3Q 2023). Net income: NT$137.8m (down 42% from 3Q 2023). Profit margin: 8.1% (down from 15% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings. Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: NT$0.51 (vs NT$0.21 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.51 (up from NT$0.21 in 2Q 2023). Revenue: NT$1.53b (up 40% from 2Q 2023). Net income: NT$144.5m (up 140% from 2Q 2023). Profit margin: 9.4% (up from 5.5% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 50% per year, which means it is well ahead of earnings. Announcement • Aug 07
Ability Enterprise Co., Ltd. to Report Q2, 2024 Results on Aug 09, 2024 Ability Enterprise Co., Ltd. announced that they will report Q2, 2024 results on Aug 09, 2024 Declared Dividend • Jul 05
Dividend increased to NT$0.90 Dividend of NT$0.90 is 100% higher than last year. Ex-date: 18th July 2024 Payment date: 15th August 2024 Dividend yield will be 1.6%, which is lower than the industry average of 4.1%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (40% 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 49% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • May 17
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to NT$57.70, the stock trades at a trailing P/E ratio of 33.6x. Average trailing P/E is 18x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 333% over the past three years. Reported Earnings • May 12
First quarter 2024 earnings released: EPS: NT$0.53 (vs NT$0.23 loss in 1Q 2023) First quarter 2024 results: EPS: NT$0.53 (up from NT$0.23 loss in 1Q 2023). Revenue: NT$1.26b (up 36% from 1Q 2023). Net income: NT$152.5m (up NT$219.0m from 1Q 2023). Profit margin: 12% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. 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 41% per year, which means it is well ahead of earnings. Announcement • May 03
Ability Enterprise Co., Ltd. to Report Q1, 2024 Results on May 10, 2024 Ability Enterprise Co., Ltd. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 10, 2024 Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to NT$42.25, the stock trades at a trailing P/E ratio of 44.2x. Average trailing P/E is 19x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 158% over the past three years. New Risk • Apr 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.2% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$32.25, the stock trades at a trailing P/E ratio of 33.8x. Average trailing P/E is 19x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 117% over the past three years. Reported Earnings • Mar 10
Full year 2023 earnings released: EPS: NT$0.96 (vs NT$0.48 in FY 2022) Full year 2023 results: EPS: NT$0.96 (up from NT$0.48 in FY 2022). Revenue: NT$4.93b (down 6.7% from FY 2022). Net income: NT$274.6m (up 103% from FY 2022). Profit margin: 5.6% (up from 2.6% 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 15% per year whereas the company’s share price has increased by 20% per year. Announcement • Mar 09
Ability Enterprise Co., Ltd., Annual General Meeting, Jun 20, 2024 Ability Enterprise Co., Ltd., Annual General Meeting, Jun 20, 2024. Location: New Taipei City Exhibition Hall 2F, No. 1, Wuquan 1st Rd., WuGu Dist. New Taipei City Taiwan Agenda: To consider the Company's Business Report of 2023; to consider the Audit Committee's Review Report of 2023 Financial Records; to consider the report of the Company's 2023 Endorsement and Guarantee Records; to consider the report of the distribution of employees compensation and directors remuneration for the year 2023; to consider the proposal of the Company's 2023 Business Report & Financial Statement; and to consider any other matters. New Risk • Nov 30
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 37% 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. This is currently the only risk that has been identified for the company. New Risk • Nov 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 5.6% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$22.85, the stock trades at a trailing P/E ratio of 55.1x. Average trailing P/E is 15x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 103% over the past three years. Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: NT$0.21 (vs NT$0.11 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.21 (up from NT$0.11 in 2Q 2022). Revenue: NT$1.10b (down 25% from 2Q 2022). Net income: NT$60.2m (up 92% from 2Q 2022). Profit margin: 5.5% (up from 2.1% 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 60% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 12
Upcoming dividend of NT$0.45 per share at 2.3% yield Eligible shareholders must have bought the stock before 19 July 2023. Payment date: 15 August 2023. The company is paying out more than 100% of its profits and is paying out 91% of its cash flow. Trailing yield: 2.3%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.0%). Announcement • Jun 29
Ability Enterprise Co., Ltd. Approves Dividend Ability Enterprise Co., Ltd. at its shareholders meeting held on June 28, 2023 approved Dividend of common shares of TWD 0.45 per share. Reported Earnings • Mar 16
Full year 2022 earnings released: EPS: NT$0.48 (vs NT$2.42 in FY 2021) Full year 2022 results: EPS: NT$0.48 (down from NT$2.42 in FY 2021). Revenue: NT$5.29b (up 48% from FY 2021). Net income: NT$135.4m (down 80% from FY 2021). Profit margin: 2.6% (down from 19% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.60 (vs NT$0.086 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.60 (up from NT$0.086 in 3Q 2021). Revenue: NT$1.48b (up 41% from 3Q 2021). Net income: NT$170.0m (up NT$145.7m from 3Q 2021). Profit margin: 12% (up from 2.3% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 82% 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 • Nov 16
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. 6 non-independent directors. Independent Director Chien-Hung Chen was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.60 (vs NT$0.086 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.60 (up from NT$0.086 in 3Q 2021). Revenue: NT$1.48b (up 41% from 3Q 2021). Net income: NT$170.0m (up NT$145.7m from 3Q 2021). Profit margin: 12% (up from 2.3% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: NT$0.11 (vs NT$2.80 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.11 (down from NT$2.80 in 2Q 2021). Revenue: NT$1.47b (up 110% from 2Q 2021). Net income: NT$31.4m (down 96% from 2Q 2021). Profit margin: 2.1% (down from 113% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 11
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 18 July 2022. Payment date: 15 August 2022. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (5.1%). Reported Earnings • May 06
First quarter 2022 earnings released: NT$0.08 loss per share (vs NT$0.42 loss in 1Q 2021) First quarter 2022 results: NT$0.08 loss per share (up from NT$0.42 loss in 1Q 2021). Revenue: NT$1.04b (up 69% from 1Q 2021). Net loss: NT$21.6m (loss narrowed 82% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
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. 6 non-independent directors. Independent Director Kuo-Hong Chen was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 28
Full year 2021 earnings released: EPS: NT$2.42 (vs NT$1.63 loss in FY 2020) Full year 2021 results: EPS: NT$2.42 (up from NT$1.63 loss in FY 2020). Revenue: NT$3.58b (up 3.9% from FY 2020). Net income: NT$684.1m (up NT$1.14b from FY 2020). Profit margin: 19% (up from net loss in FY 2020). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improved over the past week After last week's 26% share price gain to NT$30.45, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 13x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 131% over the past three years. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS NT$0.09 (vs NT$0.33 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.05b (up 6.2% from 3Q 2020). Net income: NT$24.3m (up NT$116.2m from 3Q 2020). Profit margin: 2.3% (up from net loss in 3Q 2020). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improved over the past week After last week's 17% share price gain to NT$18.80, the stock trades at a trailing P/E ratio of 10.4x. Average trailing P/E is 10x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 70% over the past three years. Upcoming Dividend • Aug 31
Upcoming dividend of NT$0.49 per share Eligible shareholders must have bought the stock before 07 September 2021. Payment date: 06 October 2021. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (4.0%). Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$2.80 (vs NT$0.42 loss in 2Q 2020) Second quarter 2021 results: Revenue: NT$700.1m (down 7.8% from 2Q 2020). Net income: NT$790.7m (up NT$908.9m from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 13
First quarter 2021 earnings released: NT$0.43 loss per share (vs NT$0.68 loss in 1Q 2020) The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were weaker. First quarter 2021 results: Revenue: NT$615.8m (down 16% from 1Q 2020). Net loss: NT$120.1m (loss narrowed 37% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 36% 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. Reported Earnings • Mar 31
Full year 2020 earnings released: NT$1.63 loss per share (vs NT$1.41 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: NT$3.44b (down 48% from FY 2019). Net loss: NT$459.8m (loss widened 15% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 58% 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. Announcement • Feb 10
VSBLTY Groupe Technologies Corp. and Ability Enterprise Co., Ltd. Announce Co-Develop First-Of-Its-Kind High Resolution Camera VSBLTY Groupe Technologies Corp. and Ability Enterprise Co., Ltd. co-developed a first-of-its-kind high resolution camera with self-contained inference logic. The new Ability camera, which can be used in retail and “Smart City” applications, is the first to be developed and deployed that is able to integrate multiple Intel algorithms to run simultaneously directly on the edge. Production units are being integrated immediately into the RadarApp “Smart City” neighborhood program that is having continuing success in Mexico City. Plans also call for the cutting-edge cameras to be part of a new media network made up of some 10,000 convenience stores to be developed in Mexico, Central and South America in 2021. Developed utilizing Myriad™X in conjunction with Intel’s OpenVINO™ toolkit, which optimizes pre-trained deep learning models, the new Ability cameras include VSBLTY’s AI-driven Vector™ software that provides retailers with enhanced customer engagement and audience measurement, including people counts, audience demographics, dwell time and density, as well as Planogram compliance and inventory management. Its industry-leading VisionCaptor™ and DataCaptor™ software combine dynamic graphics and interactive content with the most advanced computer vision analytics and insights. Among the “Smart City” solutions provided by this advanced technology are license plate recognition, vehicle count (make and model), gait analysis, parking enforcement and detection of masks, strangers, weapons, fires and car accidents. This cooperative collaboration eliminates both the enormous complexity and compute expense from large deployments that require computer vision. Working with the Ability Enterprise Co., VSBLTY-branded cameras will enable the integration of any Intel algorithms from its Open Zoo library. Is New 90 Day High Low • Dec 30
New 90-day high: NT$15.75 The company is up 18% from its price of NT$13.40 on 30 September 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 10.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: NT$0.33 loss per share The company reported a poor third quarter result with increased losses and weaker revenues and control over expenses. Third quarter 2020 results: Revenue: NT$993.6m (down 26% from 3Q 2019). Net loss: NT$91.9m (loss widened 36% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 78% 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. Is New 90 Day High Low • Sep 18
New 90-day high: NT$13.45 The company is up 6.0% from its price of NT$12.70 on 19 June 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 8.0% over the same period.