New Risk • Apr 02
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: NT$316.8m (US$9.90m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-NT$31m free cash flow). Market cap is less than US$10m (NT$316.8m market cap, or US$9.90m). Minor Risks Share price has been volatile over the past 3 months (9.3% average weekly change). Revenue is less than US$5m (NT$82m revenue, or US$2.6m). Reported Earnings • Mar 17
Full year 2025 earnings released: NT$3.51 loss per share (vs NT$0.045 profit in FY 2024) Full year 2025 results: NT$3.51 loss per share (down from NT$0.045 profit in FY 2024). Revenue: NT$82.2m (down 30% from FY 2024). Net loss: NT$45.7m (down NT$46.3m from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Mar 09
Astro Corporation, Annual General Meeting, Jun 17, 2026 Astro Corporation, Annual General Meeting, Jun 17, 2026, at 09:00 Taipei Standard Time. Location: r floor no,111, hsing to rd., sanchong district, new taipei city Taiwan New Risk • Mar 05
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 7.2% 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. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.2% average weekly change). Revenue is less than US$5m (NT$86m revenue, or US$2.7m). Market cap is less than US$100m (NT$550.4m market cap, or US$17.3m). Board Change • Mar 02
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . 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 • Nov 18
Third quarter 2025 earnings released: NT$0.68 loss per share (vs NT$0.20 profit in 3Q 2024) Third quarter 2025 results: NT$0.68 loss per share (down from NT$0.20 profit in 3Q 2024). Revenue: NT$18.6m (down 51% from 3Q 2024). Net loss: NT$8.79m (down 433% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 85% 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 • Oct 09
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . 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 • Aug 16
Second quarter 2025 earnings released: NT$1.14 loss per share (vs NT$0.78 loss in 2Q 2024) Second quarter 2025 results: NT$1.14 loss per share (further deteriorated from NT$0.78 loss in 2Q 2024). Revenue: NT$22.2m (up 2.1% from 2Q 2024). Net loss: NT$14.8m (loss widened 45% from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 18
First quarter 2025 earnings released: NT$0.72 loss per share (vs NT$1.01 profit in 1Q 2024) First quarter 2025 results: NT$0.72 loss per share (down from NT$1.01 profit in 1Q 2024). Revenue: NT$22.0m (down 36% from 1Q 2024). Net loss: NT$9.32m (down 171% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. New Risk • Apr 04
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 697% 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 Interest payments are not well covered by earnings (0.5x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Large one-off items impacting financial results. Revenue is less than US$5m (NT$117m revenue, or US$3.5m). Market cap is less than US$100m (NT$756.0m market cap, or US$22.8m). Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$0.05 (vs NT$0.27 loss in FY 2023) Full year 2024 results: EPS: NT$0.05 (up from NT$0.27 loss in FY 2023). Revenue: NT$116.9m (up 32% from FY 2023). Net income: NT$592.0k (up NT$4.10m from FY 2023). Profit margin: 0.5% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. 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 12% per year, which means it is significantly lagging earnings growth. Announcement • Mar 12
Astro Corporation, Annual General Meeting, Jun 17, 2025 Astro Corporation, Annual General Meeting, Jun 17, 2025, at 09:00 Taipei Standard Time. Location: r floor no,111, hsing to rd., sanchong district, new taipei city Taiwan New Risk • Feb 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 6.2% 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. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.03x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.2% average weekly change). Large one-off items impacting financial results. Revenue is less than US$5m (NT$114m revenue, or US$3.5m). Market cap is less than US$100m (NT$871.8m market cap, or US$26.6m). Reported Earnings • Nov 19
Third quarter 2024 earnings released: EPS: NT$0.20 (vs NT$0.30 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.20 (down from NT$0.30 in 3Q 2023). Revenue: NT$38.2m (up 32% from 3Q 2023). Net income: NT$2.64m (down 33% from 3Q 2023). Profit margin: 6.9% (down from 14% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. New Risk • Nov 06
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 6.8% 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 Debt is not well covered by operating cash flow (0.8% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Large one-off items impacting financial results. Revenue is less than US$5m (NT$105m revenue, or US$3.2m). Market cap is less than US$100m (NT$991.5m market cap, or US$30.6m). Reported Earnings • Aug 17
Second quarter 2024 earnings released: NT$0.78 loss per share (vs NT$0.48 loss in 2Q 2023) Second quarter 2024 results: NT$0.78 loss per share (further deteriorated from NT$0.48 loss in 2Q 2023). Revenue: NT$21.7m (up 9.5% from 2Q 2023). Net loss: NT$10.2m (loss widened 64% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 17% per year. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$1.01 (vs NT$0.036 in 1Q 2023) First quarter 2024 results: EPS: NT$1.01 (up from NT$0.036 in 1Q 2023). Revenue: NT$34.2m (up 70% from 1Q 2023). Net income: NT$13.1m (up NT$12.6m from 1Q 2023). Profit margin: 38% (up from 2.3% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 25% 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. New Risk • Mar 28
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 8.3% 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 (8.3% average weekly change). Minor Risks Revenue is less than US$5m (NT$89m revenue, or US$2.8m). Market cap is less than US$100m (NT$490.6m market cap, or US$15.3m). Announcement • Mar 20
Astro Corporation, Annual General Meeting, Jun 18, 2024 Astro Corporation, Annual General Meeting, Jun 18, 2024. Reported Earnings • Mar 20
Full year 2023 earnings released: NT$0.27 loss per share (vs NT$11.57 loss in FY 2022) Full year 2023 results: NT$0.27 loss per share (improved from NT$11.57 loss in FY 2022). Revenue: NT$88.6m (up 5.1% from FY 2022). Net loss: NT$3.51m (loss narrowed 97% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 26% per year whereas the company’s share price has fallen by 23% per year. Reported Earnings • Aug 19
Second quarter 2023 earnings released: NT$0.14 loss per share (vs NT$1.37 loss in 2Q 2022) Second quarter 2023 results: NT$0.14 loss per share (improved from NT$1.37 loss in 2Q 2022). Revenue: NT$19.8m (up 2.0% from 2Q 2022). Net loss: NT$6.20m (loss narrowed 83% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 20
Third quarter 2022 earnings released: NT$0.50 loss per share (vs NT$1.35 loss in 3Q 2021) Third quarter 2022 results: NT$0.50 loss per share (improved from NT$1.35 loss in 3Q 2021). Revenue: NT$19.8m (down 36% from 3Q 2021). Net loss: NT$21.3m (loss narrowed 41% from 3Q 2021). Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 15
Second quarter 2022 earnings released: NT$1.37 loss per share (vs NT$0.20 loss in 2Q 2021) Second quarter 2022 results: NT$1.37 loss per share (down from NT$0.20 loss in 2Q 2021). Revenue: NT$19.4m (down 70% from 2Q 2021). Net loss: NT$37.2m (loss widened NT$31.7m from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Reported Earnings • May 20
First quarter 2022 earnings released: NT$1.18 loss per share (vs NT$0.80 profit in 1Q 2021) First quarter 2022 results: NT$1.18 loss per share (down from NT$0.80 profit in 1Q 2021). Revenue: NT$24.3m (down 75% from 1Q 2021). Net loss: NT$31.6m (down 247% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 03
Full year 2021 earnings released: NT$0.75 loss per share (vs NT$2.34 loss in FY 2020) Full year 2021 results: NT$0.75 loss per share (up from NT$2.34 loss in FY 2020). Revenue: NT$239.4m (down 33% from FY 2020). Net loss: NT$20.0m (loss narrowed 68% from FY 2020). Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 19
Third quarter 2021 earnings released: NT$1.35 loss per share (vs NT$0.13 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: NT$30.8m (down 72% from 3Q 2020). Net loss: NT$36.2m (down NT$39.5m from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 18
Second quarter 2021 earnings released: NT$0.21 loss per share (vs NT$0.29 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: NT$63.8m (down 42% from 2Q 2020). Net loss: NT$5.49m (down 170% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment deteriorated over the past week After last week's 18% share price decline to NT$15.50, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 22x in the Hospitality industry in Taiwan. Total loss to shareholders of 74% over the past three years. Reported Earnings • May 17
First quarter 2021 earnings released: EPS NT$0.80 (vs NT$3.33 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$98.6m (up 170% from 1Q 2020). Net income: NT$21.4m (up NT$110.4m from 1Q 2020). Profit margin: 22% (up from net loss in 1Q 2020). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 27% per year, which means it is performing significantly worse than earnings. Reported Earnings • Mar 31
Full year 2020 earnings released: NT$2.34 loss per share (vs NT$11.89 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: NT$354.6m (up 141% from FY 2019). Net loss: NT$62.6m (loss narrowed 80% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Announcement • Mar 18
Astro Corporation, Annual General Meeting, Jun 17, 2021 Astro Corporation, Annual General Meeting, Jun 17, 2021. Is New 90 Day High Low • Mar 10
New 90-day low: NT$23.25 The company is down 27% from its price of NT$31.80 on 09 December 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 4.0% over the same period. Is New 90 Day High Low • Jan 22
New 90-day low: NT$25.20 The company is down 28% from its price of NT$35.00 on 23 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 1.0% over the same period. Is New 90 Day High Low • Dec 09
New 90-day low: NT$31.80 The company is down 22% from its price of NT$40.73 on 11 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 9.0% over the same period. Reported Earnings • Nov 17
Third quarter 2020 earnings released: EPS NT$0.13 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$108.7m (up 305% from 3Q 2019). Net income: NT$3.35m (up NT$86.6m from 3Q 2019). Profit margin: 3.1% (up from net loss in 3Q 2019). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Oct 27
New 90-day low: NT$32.00 The company is down 49% from its price of NT$62.28 on 29 July 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 3.0% over the same period.