Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$40.80, the stock trades at a trailing P/E ratio of 37.5x. Average trailing P/E is 17x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 199% over the past three years. Valuation Update With 7 Day Price Move • May 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$46.80, the stock trades at a trailing P/E ratio of 43x. Average trailing P/E is 16x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 286% over the past three years. Reported Earnings • May 12
First quarter 2026 earnings released: EPS: NT$0.15 (vs NT$0.36 in 1Q 2025) First quarter 2026 results: EPS: NT$0.15 (down from NT$0.36 in 1Q 2025). Revenue: NT$5.81b (up 9.3% from 1Q 2025). Net income: NT$91.2m (down 58% from 1Q 2025). Profit margin: 1.6% (down from 4.1% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 27
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$35.00, the stock trades at a trailing P/E ratio of 27x. Average trailing P/E is 19x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 215% over the past three years. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$38.90, the stock trades at a trailing P/E ratio of 30x. Average trailing P/E is 17x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 292% over the past three years. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$34.80, the stock trades at a trailing P/E ratio of 26.8x. Average trailing P/E is 16x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 250% over the past three years. Reported Earnings • Mar 05
Full year 2025 earnings released: EPS: NT$1.22 (vs NT$2.01 in FY 2024) Full year 2025 results: EPS: NT$1.22 (down from NT$2.01 in FY 2024). Revenue: NT$24.7b (up 6.1% from FY 2024). Net income: NT$791.6m (down 39% from FY 2024). Profit margin: 3.2% (down from 5.5% 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 62% per year but the company’s share price has only increased by 48% per year, which means it is significantly lagging earnings growth. Announcement • Mar 05
AmTRAN Technology Co.,Ltd, Annual General Meeting, May 28, 2026 AmTRAN Technology Co.,Ltd, Annual General Meeting, May 28, 2026. Location: 17 floor no,268, lien ch`eng rd., jhonghe district, new taipei city Taiwan Buy Or Sell Opportunity • Feb 26
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 161% to NT$39.60. The fair value is estimated to be NT$32.83, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$32.75, the stock trades at a trailing P/E ratio of 23.1x. Average trailing P/E is 18x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 216% over the past three years. New Risk • Feb 23
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 9.2% 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 Risk Share price has been highly volatile over the past 3 months (9.2% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$23.70, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 17x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 145% over the past three years. New Risk • Jan 22
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 6.6% 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. 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. Share price has been volatile over the past 3 months (6.6% average weekly change). Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$19.15, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 17x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 101% over the past three years. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$17.30, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 16x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 79% over the past three years. Reported Earnings • Nov 13
Third quarter 2025 earnings released: EPS: NT$0.51 (vs NT$0.23 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.51 (up from NT$0.23 in 3Q 2024). Revenue: NT$6.84b (down 8.0% from 3Q 2024). Net income: NT$323.1m (up 126% from 3Q 2024). Profit margin: 4.7% (up from 1.9% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. New Risk • Nov 13
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 81% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Declared Dividend • Oct 16
Dividend of NT$0.50 announced Shareholders will receive a dividend of NT$0.50. Ex-date: 27th October 2025 Payment date: 26th November 2025 Dividend yield will be 10%, which is higher than the industry average of 4.1%. Sustainability & Growth Dividend is well covered by both earnings (47% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 48% to shift the payout ratio to a potentially unsustainable range, which is more than the 16% EPS decline seen over the last 5 years. Upcoming Dividend • Sep 18
Upcoming dividend of NT$1.03 per share Eligible shareholders must have bought the stock before 25 September 2025. Payment date: 15 October 2025. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (4.2%). New Risk • Aug 09
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 135% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.8% net profit margin). Reported Earnings • Aug 09
Second quarter 2025 earnings released: NT$0.01 loss per share (vs NT$0.36 profit in 2Q 2024) Second quarter 2025 results: NT$0.01 loss per share (down from NT$0.36 profit in 2Q 2024). Revenue: NT$6.43b (up 8.9% from 2Q 2024). Net loss: NT$4.78m (down 102% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Declared Dividend • Jul 23
Dividend of NT$1.03 announced Shareholders will receive a dividend of NT$1.03. Ex-date: 25th September 2025 Payment date: 15th October 2025 Dividend yield will be 12%, which is higher than the industry average of 4.1%. Sustainability & Growth Dividend is well covered by both earnings (34% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 62% to shift the payout ratio to a potentially unsustainable range, which is more than the 12% EPS decline seen over the last 5 years. Reported Earnings • May 13
First quarter 2025 earnings released: EPS: NT$0.32 (vs NT$0.84 in 1Q 2024) First quarter 2025 results: EPS: NT$0.32 (down from NT$0.84 in 1Q 2024). Revenue: NT$5.32b (up 23% from 1Q 2024). Net income: NT$219.4m (down 62% from 1Q 2024). Profit margin: 4.1% (down from 13% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • May 03
AmTRAN Technology Co.,Ltd to Report Q1, 2025 Results on May 12, 2025 AmTRAN Technology Co.,Ltd announced that they will report Q1, 2025 results on May 12, 2025 Buy Or Sell Opportunity • Apr 09
Now 25% undervalued after recent price drop Over the last 90 days, the stock has fallen 37% to NT$11.70. The fair value is estimated to be NT$15.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 40%. 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$12.95, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 14x in the Consumer Durables industry in Taiwan. Total loss to shareholders of 8.4% over the past three years. Buy Or Sell Opportunity • Mar 18
Now 21% overvalued Over the last 90 days, the stock has fallen 6.4% to NT$17.60. The fair value is estimated to be NT$14.55, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 40%. Reported Earnings • Mar 14
Full year 2024 earnings released: EPS: NT$1.80 (vs NT$0.63 in FY 2023) Full year 2024 results: EPS: NT$1.80 (up from NT$0.63 in FY 2023). Revenue: NT$23.2b (up 40% from FY 2023). Net income: NT$1.29b (up 189% from FY 2023). Profit margin: 5.5% (up from 2.7% 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 40% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: NT$0.20 (vs NT$0.067 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.20 (up from NT$0.067 in 3Q 2023). Revenue: NT$7.43b (up 50% from 3Q 2023). Net income: NT$143.1m (up 208% from 3Q 2023). Profit margin: 1.9% (up from 0.9% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Upcoming Dividend • Oct 11
Upcoming dividend of NT$0.59 per share Eligible shareholders must have bought the stock before 18 October 2024. Payment date: 14 November 2024. Trailing yield: 2.7%. Lower than top quartile of Taiwanese dividend payers (4.4%). Lower than average of industry peers (3.1%). Announcement • Oct 03
AmTRAN Technology Co.,Ltd Announces the Cash Dividends, Payable on November 14, 2024 AmTRAN Technology Co.,Ltd announced the cash dividends of TWD 401,200,000 (TWD 0.59 per share). Ex-rights (ex-dividend) record date is October 26, 2024 and Payment date of common stock cash dividend distribution of November 14, 2024. Date of the resolution by the board of directors or shareholders meeting or decision by the Company: October 1, 2024. Upcoming Dividend • Sep 12
Upcoming dividend of NT$0.81 per share Eligible shareholders must have bought the stock before 19 September 2024. Payment date: 04 October 2024. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (4.5%). Lower than average of industry peers (3.2%). New Risk • Aug 28
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 63% 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: Major Risk Earnings have declined by 11% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.6% average weekly change). Large one-off items impacting financial results. Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: NT$0.33 (vs NT$0.33 loss in 2Q 2023) Second quarter 2024 results: EPS: NT$0.33 (up from NT$0.33 loss in 2Q 2023). Revenue: NT$5.90b (up 54% from 2Q 2023). Net income: NT$244.6m (up NT$502.5m from 2Q 2023). Profit margin: 4.1% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$18.40, the stock trades at a trailing P/E ratio of 29.8x. Average trailing P/E is 16x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 17% over the past three years. Declared Dividend • Aug 02
Dividend of NT$0.81 announced Shareholders will receive a dividend of NT$0.81. Ex-date: 19th September 2024 Payment date: 4th October 2024 Dividend yield will be 3.8%, which is lower than the industry average of 4.1%. Sustainability & Growth Dividend is covered by both earnings (89% earnings payout ratio) and cash flows (33% 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 29% over the last 5 years, which if continued should maintain adequate earnings cover for the dividend. Announcement • Aug 01
AmTRAN Technology Co.,Ltd to Report Q2, 2024 Results on Aug 08, 2024 AmTRAN Technology Co.,Ltd announced that they will report Q2, 2024 results on Aug 08, 2024 New Risk • Jul 22
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 8.5% 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 (8.5% average weekly change). Earnings have declined by 11% per year over the past 5 years. 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 (2.6% net profit margin). Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$24.50, the stock trades at a trailing P/E ratio of 39.6x. Average trailing P/E is 17x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 53% over the past three years. New Risk • May 28
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 6.6% 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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 11% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.6% average weekly change). Profit margins are more than 30% lower than last year (2.6% net profit margin). Valuation Update With 7 Day Price Move • May 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$18.95, the stock trades at a trailing P/E ratio of 30.6x. Average trailing P/E is 17x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 30% over the past three years. Reported Earnings • May 16
First quarter 2024 earnings released: EPS: NT$0.77 (vs NT$0.70 in 1Q 2023) First quarter 2024 results: EPS: NT$0.77 (up from NT$0.70 in 1Q 2023). Revenue: NT$4.32b (up 30% from 1Q 2023). Net income: NT$571.9m (up 2.0% from 1Q 2023). Profit margin: 13% (down from 17% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Announcement • May 01
AmTRAN Technology Co.,Ltd to Report Q1, 2024 Results on May 08, 2024 AmTRAN Technology Co.,Ltd announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 08, 2024 New Risk • Mar 27
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 28% 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: Major Risk Earnings have declined by 9.1% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Large one-off items impacting financial results. Reported Earnings • Mar 25
Full year 2023 earnings released: EPS: NT$0.58 (vs NT$3.45 loss in FY 2022) Full year 2023 results: EPS: NT$0.58 (up from NT$3.45 loss in FY 2022). Revenue: NT$16.6b (up 1.4% from FY 2022). Net income: NT$446.2m (up NT$3.20b from FY 2022). Profit margin: 2.7% (up from net loss in FY 2022). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 62% 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 • Dec 08
AmTRAN Technology Co.,Ltd. Announces Resignation of Zhan,Jin-Zong as Committee Member AmTRAN Technology Co.,Ltd. announced the resignation of ZHAN,JIN-ZONG as committee members. Resume of the previous position holder: ZHAN,JIN-ZONG: Associate Manager of HH-CTBC Capital Management Co. Ltd. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: NT$0.06 (vs NT$1.30 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.06 (down from NT$1.30 in 3Q 2022). Revenue: NT$4.95b (up 28% from 3Q 2022). Net income: NT$46.5m (down 96% from 3Q 2022). Profit margin: 0.9% (down from 27% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Nov 11
AmTRAN Technology Co.,Ltd Approves Appointment of the Committee Members Amtran Board of Directors approved the establishment of appointment of the committee members. Name of the new position holder: Xu Zhangying, ZHAN,JIN-ZONG. Resume of the new position holder:)Xu Zhangying: Independent Director of Amtran. ZHAN,JIN-ZONG: Associate Manager of HH-CTBC Capital Management Co. Ltd. Effective date of the new member: November 10, 2023. Board Change • Oct 11
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Director Zhangying Xu 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. Upcoming Dividend • Sep 20
Upcoming dividend of NT$0.51 per share at 5.3% yield Eligible shareholders must have bought the stock before 27 September 2023. Payment date: 17 October 2023. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 5.3%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.4%). New Risk • Aug 25
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 5.3% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. 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 Earnings have declined by 2.8% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. New Risk • Aug 06
New major risk - Revenue and earnings growth Earnings have declined by 2.8% 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 2.8% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Large one-off items impacting financial results. Reported Earnings • Aug 05
Second quarter 2023 earnings released: NT$0.33 loss per share (vs NT$0.47 loss in 2Q 2022) Second quarter 2023 results: NT$0.33 loss per share (improved from NT$0.47 loss in 2Q 2022). Revenue: NT$3.84b (down 15% from 2Q 2022). Net loss: NT$257.8m (loss narrowed 32% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. New Risk • Jul 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 6.1% 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. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results. Announcement • Jun 17
AmTRAN Technology Co.,Ltd Announces Change of Member of Audit Committee AmTRAN Technology Co.,Ltd announced for the change of member of Audit Committee (add one seat). Name of the new position holder: Xu Zhangying; Resume of the new position holder: Independent Director/Secretary General; Circumstances of change: Additional by-election of an independent director. Effective date of the new member: June 15, 2023. Announcement • Jun 16
AmTRAN Technology Co.,Ltd Approves Election of Independent Director AmTRAN Technology Co.,Ltd at its AGM held on June 15, 2023, approved election of independent director: Elected or changed position: Independent director; Title and name of the new position holder: Xu Zhangying; Resume of the new position holder: Independent Director/Secretary General of Guoshao Urology Education Foundation; Circumstances of change: new appointment; Effective date of the new appointment: June 15, 2023. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$15.10, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 15x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 113% over the past three years. Announcement • May 06
AmTRAN Technology Co.,Ltd Announces Members of the 1st Sustainable Development Committee AmTRAN Technology Co.,Ltd announced members of the 1st Sustainable Development Committee. Name of the new position holder: Alpha Wu¡BDah-Jen Chou¡BHong-Jheng Wei¡B Cheng-Hu Chow¡BZhi-Hong Shi. Resume of the new position holder: Alpha Wu, Chairman of Amtran Technology Co. Ltd., Dah-Jen Chou, Independent director of Amtran Technology Co. Ltd., Hong-Jheng Wei, Independent director of Amtran Technology Co. Ltd., Cheng-Hu Chow, Independent director of Amtran Technology Co. Ltd., Zhi-Hong Shi, Chief Legal Officer of Amtran Technology Co. Ltd. Effective date of the new member is May 4, 2023. Reason for the change: Establishment of the Sustainable Development Committee. The tenure is from the day of appointment to the term expired day of current Board of Directors - (May 4, 2023 - July 28, 2024). Reported Earnings • Mar 30
Full year 2022 earnings released: NT$3.45 loss per share (vs NT$6.39 profit in FY 2021) Full year 2022 results: NT$3.45 loss per share (down from NT$6.39 profit in FY 2021). Revenue: NT$16.4b (down 26% from FY 2021). Net loss: NT$2.75b (down 155% from profit in FY 2021). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Announcement • Jan 11
AMTRAN TECHNOLOGY CO.,LTD. Announces Resignation of Liao Wanjun as Independent Director AMTRAN TECHNOLOGY CO.,LTD. announced the resignation of Ms. Liao Wanjun as independent director and member of the audit committee. Reason for the change is Ms. Liao Wanjun is to be the civil servant. Date of occurrence of the change is January 10, 2023. Board Change • Nov 16
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. 7 non-independent directors. Independent Director Cheng-Hu Chow was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 10
Third quarter 2022 earnings released: EPS: NT$1.29 (vs NT$0.13 loss in 3Q 2021) Third quarter 2022 results: EPS: NT$1.29 (up from NT$0.13 loss in 3Q 2021). Revenue: NT$3.88b (down 41% from 3Q 2021). Net income: NT$1.03b (up NT$1.14b from 3Q 2021). Profit margin: 27% (up from net loss in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Aug 25
Upcoming dividend of NT$0.75 per share Eligible shareholders must have bought the stock before 01 September 2022. Payment date: 07 October 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 5.8%. Lower than top quartile of Taiwanese dividend payers (6.5%). Higher than average of industry peers (4.8%). Reported Earnings • Aug 05
Second quarter 2022 earnings released: NT$0.50 loss per share (vs NT$1.06 profit in 2Q 2021) Second quarter 2022 results: NT$0.50 loss per share (down from NT$1.06 profit in 2Q 2021). Revenue: NT$4.49b (down 7.7% from 2Q 2021). Net loss: NT$377.1m (down 147% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 15% 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 02
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: NT$3.93 loss per share (down from NT$6.39 profit in 1Q 2021). Revenue: NT$4.40b (down 2.3% from 1Q 2021). Net loss: NT$2.99b (down 162% from profit in 1Q 2021). Revenue missed analyst estimates by 74%. Earnings per share (EPS) exceeded analyst estimates by 1,464%. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
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 not an independent director. The company's board is composed of: 1 new director. 8 experienced directors. 3 highly experienced directors. 3 independent directors (8 non-independent directors). Independent Director Hong Zheng Wei 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 • Apr 02
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: NT$6.30 (up from NT$0.73 in FY 2020). Revenue: NT$22.2b (up 33% from FY 2020). Net income: NT$5.02b (up NT$4.46b from FY 2020). Profit margin: 23% (up from 3.3% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 74%. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Nov 12
Upcoming dividend of NT$0.14 per share Eligible shareholders must have bought the stock before 19 November 2021. Payment date: 17 December 2021. Trailing yield: 4.6%. Lower than top quartile of Taiwanese dividend payers (5.1%). Higher than average of industry peers (4.1%). Reported Earnings • Nov 10
Third quarter 2021 earnings released: NT$0.13 loss per share (vs NT$0.32 profit in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: NT$6.60b (up 44% from 3Q 2020). Net loss: NT$105.7m (down 144% from profit in 3Q 2020). 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 12% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Oct 22
Inaugural dividend of NT$0.61 per share Eligible shareholders must have bought the stock before 29 October 2021. Payment date: 15 November 2021. The company last paid an ordinary dividend in March 2017. The average dividend yield among industry peers is 4.2%. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$1.00 (vs NT$0.23 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$4.87b (up 21% from 2Q 2020). Net income: NT$806.8m (up 335% from 2Q 2020). Profit margin: 17% (up from 4.6% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 134% 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 • May 11
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$17.55, the stock trades at a trailing P/E ratio of 2.5x. Average forward P/E is 17x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 39% over the past three years. Reported Earnings • May 04
First quarter 2021 earnings released: EPS NT$6.00 (vs NT$0.40 loss in 1Q 2020) First quarter 2021 results: Revenue: NT$4.51b (up 52% from 1Q 2020). Net income: NT$4.85b (up NT$5.18b from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 129% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Announcement • Mar 16
AmTRAN Technology Co.,Ltd, Annual General Meeting, Jun 15, 2021 AmTRAN Technology Co.,Ltd, Annual General Meeting, Jun 15, 2021. Is New 90 Day High Low • Mar 03
New 90-day high: NT$12.85 The company is up 7.0% from its price of NT$12.00 on 03 December 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 12% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.30 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$4.59b (up 22% from 3Q 2019). Net income: NT$241.5m (up NT$235.7m from 3Q 2019). Profit margin: 5.3% (up from 0.2% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 14
New 90-day high: NT$11.00 The company is up 5.0% from its price of NT$10.50 on 16 July 2020. The Taiwanese market is also up 5.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Consumer Durables industry, which is down 1.0% over the same period.