Reported Earnings • Aug 14
Second quarter 2026 earnings released: EPS: NT$0.67 (vs NT$0.42 in 2Q 2025) Second quarter 2026 results: EPS: NT$0.67 (up from NT$0.42 in 2Q 2025). Revenue: NT$238.6m (flat on 2Q 2025). Net income: NT$45.0m (up 59% from 2Q 2025). Profit margin: 19% (up from 12% in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. New Risk • Jun 06
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 30% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (175% payout ratio). Large one-off items impacting financial results. Market cap is less than US$100m (NT$1.23b market cap, or US$39.0m). Reported Earnings • May 15
First quarter 2026 earnings released: EPS: NT$0.51 (vs NT$0.071 loss in 1Q 2025) First quarter 2026 results: EPS: NT$0.51 (up from NT$0.071 loss in 1Q 2025). Revenue: NT$294.7m (up 30% from 1Q 2025). Net income: NT$34.2m (up NT$39.0m from 1Q 2025). Profit margin: 12% (up from net loss in 1Q 2025). 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 fallen by 17% per year, which means it is performing significantly worse than earnings. New Risk • Mar 13
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 175% The company is paying a dividend despite having no free cash flows. Dividend yield: 8.8% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 175% Paying a dividend despite having no free cash flows. Earnings have declined by 27% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (7.2% net profit margin). Market cap is less than US$100m (NT$1.20b market cap, or US$37.5m). Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: NT$1.14 (vs NT$1.76 in FY 2024) Full year 2025 results: EPS: NT$1.14 (down from NT$1.76 in FY 2024). Revenue: NT$1.07b (down 4.8% from FY 2024). Net income: NT$77.0m (down 35% from FY 2024). Profit margin: 7.2% (down from 11% 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 23% per year whereas the company’s share price has fallen by 19% per year. Declared Dividend • Mar 07
Dividend reduced to NT$1.00 Dividend of NT$1.00 is 38% lower than last year. Ex-date: 19th March 2026 Payment date: 24th April 2026 Dividend yield will be 5.6%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is not covered by earnings (175% earnings payout ratio). However, it is covered by cash flows (66% cash payout ratio). The dividend has increased by an average of 4.9% per year over the past 6 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 95% to bring the payout ratio under control. However, EPS has declined by 13% over the last 5 years so the company would need to reverse this trend. Reported Earnings • Nov 19
Third quarter 2025 earnings released: EPS: NT$0.19 (vs NT$0.38 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.19 (down from NT$0.38 in 3Q 2024). Revenue: NT$287.2m (down 9.3% from 3Q 2024). Net income: NT$13.0m (down 50% from 3Q 2024). Profit margin: 4.5% (down from 8.2% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 35% 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. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$20.05, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 20x in the Luxury industry in Taiwan. Total loss to shareholders of 26% over the past three years. Reported Earnings • Aug 17
Second quarter 2025 earnings released: EPS: NT$0.42 (vs NT$0.49 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.42 (down from NT$0.49 in 2Q 2024). Revenue: NT$236.8m (down 17% from 2Q 2024). Net income: NT$28.2m (down 15% from 2Q 2024). Profit margin: 12% (in line with 2Q 2024). 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. Reported Earnings • May 15
First quarter 2025 earnings released: NT$0.07 loss per share (vs NT$0.51 profit in 1Q 2024) First quarter 2025 results: NT$0.07 loss per share (down from NT$0.51 profit in 1Q 2024). Revenue: NT$227.1m (down 3.4% from 1Q 2024). Net loss: NT$4.78m (down 114% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$20.85, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 19x in the Luxury industry in Taiwan. Total loss to shareholders of 44% over the past three years. Upcoming Dividend • Mar 25
Upcoming dividend of NT$1.60 per share Eligible shareholders must have bought the stock before 01 April 2025. Payment date: 29 April 2025. Payout ratio is a comfortable 59% and the cash payout ratio is 77%. Trailing yield: 6.3%. Within top quartile of Taiwanese dividend payers (4.6%). Higher than average of industry peers (3.5%). Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$1.76 (vs NT$0.67 in FY 2023) Full year 2024 results: EPS: NT$1.76 (up from NT$0.67 in FY 2023). Revenue: NT$1.12b (up 13% from FY 2023). Net income: NT$118.8m (up 162% from FY 2023). Profit margin: 11% (up from 4.6% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Announcement • Mar 04
Yi Shin Textile Industrial Co., Ltd. to Report Q4, 2024 Results on Mar 11, 2025 Yi Shin Textile Industrial Co., Ltd. announced that they will report Q4, 2024 results on Mar 11, 2025 Buy Or Sell Opportunity • Feb 12
Now 21% overvalued Over the last 90 days, the stock has fallen 5.2% to NT$23.70. The fair value is estimated to be NT$19.55, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 24% over the last 3 years. Earnings per share has declined by 57%. New Risk • Dec 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 43% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Earnings have declined by 7.0% 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. Market cap is less than US$100m (NT$1.69b market cap, or US$52.0m). Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.38 (vs NT$0.084 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.38 (up from NT$0.084 in 3Q 2023). Revenue: NT$316.5m (up 19% from 3Q 2023). Net income: NT$25.8m (up 355% from 3Q 2023). Profit margin: 8.2% (up from 2.1% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.49 (vs NT$0.11 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.49 (up from NT$0.11 in 2Q 2023). Revenue: NT$285.6m (up 28% from 2Q 2023). Net income: NT$33.2m (up 336% from 2Q 2023). Profit margin: 12% (up from 3.4% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 55% 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 • Jul 27
Yi Shin Textile Industrial Co., Ltd. to Report Q2, 2024 Results on Aug 05, 2024 Yi Shin Textile Industrial Co., Ltd. announced that they will report Q2, 2024 results on Aug 05, 2024 Upcoming Dividend • May 30
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 06 June 2024. Payment date: 05 July 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 12%. Within top quartile of Taiwanese dividend payers (4.3%). Higher than average of industry peers (3.3%). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.51 (vs NT$0.16 in 1Q 2023) First quarter 2024 results: EPS: NT$0.51 (up from NT$0.16 in 1Q 2023). Revenue: NT$235.0m (down 8.8% from 1Q 2023). Net income: NT$34.5m (up 214% from 1Q 2023). Profit margin: 15% (up from 4.3% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Declared Dividend • May 16
Dividend reduced to NT$1.00 Dividend of NT$1.00 is 67% lower than last year. Ex-date: 6th June 2024 Payment date: 5th July 2024 Dividend yield will be 3.9%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is not covered by earnings (318% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 26% per year over the past 4 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 253% to bring the payout ratio under control. However, EPS has declined by 25% over the last 5 years so the company would need to reverse this trend. Announcement • May 15
Yi Shin Textile Industrial Co., Ltd. Announces Cash Dividends to Common Share Holders, Payable on July 5, 2024 Yi Shin Textile Industrial Co., Ltd. announced Cash dividends to common share holders of TWD 67,598,000 (TWD 1.0 per share). Date of the resolution by the board of directors or shareholders meeting or decision by the Company is May 14, 2024. Ex-rights (ex-dividend) trading date is June 6, 2024. Ex-rights (ex-dividend) record date is June 12, 2024. Payment date of common stock cash dividend distribution is July 5, 2024. Announcement • May 05
Yi Shin Textile Industrial Co., Ltd. to Report Q1, 2024 Results on May 13, 2024 Yi Shin Textile Industrial Co., Ltd. announced that they will report Q1, 2024 results on May 13, 2024 Announcement • Apr 11
Yi Shin Textile Industrial Co., Ltd. Announces Chairman of the Board of Directors Changes Yi Shin Textile Industrial Co., Ltd. appointed Chan, Cheng-Tian as chairman of the board of directors in place of Chiu,Chang-Pei, effective April 10, 2024. Resume of the new position holder: Chairman of Yijin Industrial Co., Ltd./ Chairman of Hongzhou Fiber Industry Co., Ltd./Chairman of Guangming Silk Weaving Factory Co., Ltd./Independent Director of Donglian Chemical Co., Ltd. Reported Earnings • Mar 17
Full year 2023 earnings released: EPS: NT$0.67 (vs NT$2.90 in FY 2022) Full year 2023 results: EPS: NT$0.67 (down from NT$2.90 in FY 2022). Revenue: NT$994.3m (down 34% from FY 2022). Net income: NT$45.3m (down 77% from FY 2022). Profit margin: 4.6% (down from 13% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Mar 12
Yi Shin Textile Industrial Co., Ltd., Annual General Meeting, May 27, 2024 Yi Shin Textile Industrial Co., Ltd., Annual General Meeting, May 27, 2024. Location: No.91-1, Sec. 1, Zhongshan Rd., Huatan Township, Changhua County 503001, Taiwan R.O.C Changhwa County Taiwan Agenda: To Report the Business of 2023; to approve Audit Committee's Review Report on the 2023 Audited Financial Statements; to Report 2023 employees' profit sharing bonus and directors compensation; to Report 2023 Cash Dividends Distribution; and to Report of cash dividends distribution from capital surplus. Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: NT$0.11 (vs NT$0.74 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.11 (down from NT$0.74 in 2Q 2022). Revenue: NT$222.8m (down 41% from 2Q 2022). Net income: NT$7.62m (down 85% from 2Q 2022). Profit margin: 3.4% (down from 13% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • May 31
Upcoming dividend of NT$3.00 per share at 8.9% yield Eligible shareholders must have bought the stock before 07 June 2023. Payment date: 07 July 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 8.9%. Within top quartile of Taiwanese dividend payers (5.6%). Higher than average of industry peers (4.6%). Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.68 (vs NT$1.45 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.68 (down from NT$1.45 in 3Q 2021). Revenue: NT$396.3m (down 21% from 3Q 2021). Net income: NT$46.2m (down 47% from 3Q 2021). Profit margin: 12% (down from 17% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 32% 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 15
Second quarter 2022 earnings released: EPS: NT$0.74 (vs NT$1.42 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.74 (down from NT$1.42 in 2Q 2021). Revenue: NT$377.1m (down 17% from 2Q 2021). Net income: NT$50.3m (down 41% from 2Q 2021). Profit margin: 13% (down from 19% in 2Q 2021). The decrease in margin was driven by lower revenue. Upcoming Dividend • Jun 03
Upcoming dividend of NT$4.00 per share Eligible shareholders must have bought the stock before 10 June 2022. Payment date: 01 July 2022. Payout ratio is on the higher end at 83%, however this is supported by cash flows. Trailing yield: 8.6%. Within top quartile of Taiwanese dividend payers (6.0%). Higher than average of industry peers (3.7%). Reported Earnings • Mar 16
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$5.06 (up from NT$2.05 in FY 2020). Revenue: NT$1.82b (up 55% from FY 2020). Net income: NT$311.4m (up 153% from FY 2020). Profit margin: 17% (up from 11% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Reported Earnings • Nov 08
Third quarter 2021 earnings released: EPS NT$1.45 (vs NT$0.75 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$503.9m (up 50% from 3Q 2020). Net income: NT$86.9m (up 93% from 3Q 2020). Profit margin: 17% (up from 13% in 3Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$1.42 (vs NT$0.33 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$455.6m (up 166% from 2Q 2020). Net income: NT$85.4m (up 336% from 2Q 2020). Profit margin: 19% (up from 11% in 2Q 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 19% share price gain to NT$52.90, the stock trades at a trailing P/E ratio of 17.9x. Average trailing P/E is 20x in the Luxury industry in Taiwan. Total returns to shareholders of 109% over the past year. Upcoming Dividend • Jun 01
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 08 June 2021. Payment date: 02 July 2021. Trailing yield: 2.8%. Lower than top quartile of Taiwanese dividend payers (5.1%). Higher than average of industry peers (2.3%). Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$49.50, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 20x in the Luxury industry in Taiwan. Total returns to shareholders of 48% over the past year. Reported Earnings • Apr 25
Full year 2020 earnings released: EPS NT$2.85 (vs NT$3.00 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: NT$1.18b (down 19% from FY 2019). Net income: NT$123.3m (down 4.9% from FY 2019). Profit margin: 11% (up from 8.9% in FY 2019). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improved over the past week After last week's 17% share price gain to NT$57.00, the stock trades at a trailing P/E ratio of 21.2x. Average trailing P/E is 23x in the Luxury industry in Taiwan. Total returns to shareholders of 67% over the past year. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improved over the past week After last week's 16% share price gain to NT$42.45, the stock is trading at a trailing P/E ratio of 15.8x, up from the previous P/E ratio of 13.6x. This compares to an average P/E of 20x in the Luxury industry in Taiwan. Total returns to shareholders over the past year are 23%. Announcement • Feb 23
Yi Shin Textile Industrial Co., Ltd., Annual General Meeting, May 13, 2021 Yi Shin Textile Industrial Co., Ltd., Annual General Meeting, May 13, 2021. Is New 90 Day High Low • Feb 23
New 90-day high: NT$37.50 The company is up 4.0% from its price of NT$35.90 on 25 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Luxury industry, which is down 1.0% over the same period. 
