Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$50.80, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 16x in the Hospitality industry in Taiwan. Total returns to shareholders of 45% over the past three years. Reported Earnings • May 17
First quarter 2026 earnings released: EPS: NT$1.00 (vs NT$1.46 in 1Q 2025) First quarter 2026 results: EPS: NT$1.00. Revenue: NT$270.2m (up 3.0% from 1Q 2025). Net income: NT$42.8m (up 33% from 1Q 2025). Profit margin: 16% (up from 12% in 1Q 2025). The increase in margin was primarily driven by higher revenue. Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: NT$6.04 (vs NT$4.40 in FY 2024) Full year 2025 results: EPS: NT$6.04 (up from NT$4.40 in FY 2024). Revenue: NT$1.08b (up 1.4% from FY 2024). Net income: NT$132.6m (up 37% from FY 2024). Profit margin: 12% (up from 9.1% in FY 2024). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Mar 13
Green World Hotels Co., Ltd., Annual General Meeting, Jun 24, 2026 Green World Hotels Co., Ltd., Annual General Meeting, Jun 24, 2026. Location: 1 floor no,528, sec.7 chung hsiao e. rd., nangang district, taipei city Taiwan Board Change • Mar 13
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 an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Yu Chang was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Feb 24
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 an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Yu Chang was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jan 06
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 an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Yu Chang was the last independent director to join the board, commencing their role in 2023. 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 15
Third quarter 2025 earnings released: EPS: NT$0.34 (vs NT$0.19 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.34 (up from NT$0.19 in 3Q 2024). Revenue: NT$243.6m (up 2.5% from 3Q 2024). Net income: NT$7.50m (up 80% from 3Q 2024). Profit margin: 3.1% (up from 1.8% 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 108% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: NT$1.06 (vs NT$0.47 in 2Q 2024) Second quarter 2025 results: EPS: NT$1.06 (up from NT$0.47 in 2Q 2024). Revenue: NT$259.7m (up 3.9% from 2Q 2024). Net income: NT$23.3m (up 124% from 2Q 2024). Profit margin: 9.0% (up from 4.2% in 2Q 2024). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: NT$1.46 (vs NT$1.62 in 1Q 2024) First quarter 2025 results: EPS: NT$1.46 (down from NT$1.62 in 1Q 2024). Revenue: NT$262.3m (down 4.8% from 1Q 2024). Net income: NT$32.1m (down 9.8% from 1Q 2024). Profit margin: 12% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • May 01
Green World Hotels Co., Ltd. to Report Q1, 2025 Results on May 09, 2025 Green World Hotels 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 16% After last week's 16% share price decline to NT$38.00, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 18x in the Hospitality industry in Taiwan. Total loss to shareholders of 24% over the past three years. Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$4.40 (vs NT$2.26 in FY 2023) Full year 2024 results: EPS: NT$4.40 (up from NT$2.26 in FY 2023). Revenue: NT$1.07b (up 9.0% from FY 2023). Net income: NT$96.5m (up 95% from FY 2023). Profit margin: 9.1% (up from 5.1% 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 105% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Mar 06
Green World Hotels Co., Ltd. to Report Fiscal Year 2024 Results on Mar 13, 2025 Green World Hotels Co., Ltd. announced that they will report fiscal year 2024 results on Mar 13, 2025 Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.19 (vs NT$0.63 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.19 (down from NT$0.63 in 3Q 2023). Revenue: NT$237.6m (down 2.0% from 3Q 2023). Net income: NT$4.18m (down 70% from 3Q 2023). Profit margin: 1.8% (down from 5.7% in 3Q 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. New Risk • Sep 13
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 9.4% 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 (9.4% average weekly change). Minor Risk Market cap is less than US$100m (NT$1.18b market cap, or US$37.0m). Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.47 (vs NT$0.46 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.47 (up from NT$0.46 in 2Q 2023). Revenue: NT$249.9m (up 4.9% from 2Q 2023). Net income: NT$10.4m (up 2.4% from 2Q 2023). Profit margin: 4.2% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$68.70, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 20x in the Hospitality industry in Taiwan. Total returns to shareholders of 23% over the past three years. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$1.62 (vs NT$0.89 loss in 1Q 2023) First quarter 2024 results: EPS: NT$1.62 (up from NT$0.89 loss in 1Q 2023). Revenue: NT$275.5m (up 41% from 1Q 2023). Net income: NT$35.6m (up NT$55.2m from 1Q 2023). Profit margin: 13% (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 increased by 68% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$60.00, the stock trades at a trailing P/E ratio of 26.5x. Average trailing P/E is 22x in the Hospitality industry in Taiwan. Total returns to shareholders of 29% over the past three years. New Risk • Apr 11
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 Interest payments are not well covered by earnings (1.9x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (NT$1.30b market cap, or US$40.3m). Announcement • Mar 27
Green World Hotels Co., Ltd., Annual General Meeting, Jun 18, 2024 Green World Hotels Co., Ltd., Annual General Meeting, Jun 18, 2024. Reported Earnings • Mar 16
Full year 2023 earnings released: EPS: NT$2.26 (vs NT$10.28 loss in FY 2022) Full year 2023 results: EPS: NT$2.26 (up from NT$10.28 loss in FY 2022). Revenue: NT$978.3m (up 79% from FY 2022). Net income: NT$49.6m (up NT$275.2m from FY 2022). Profit margin: 5.1% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 19
Second quarter 2023 earnings released: EPS: NT$0.46 (vs NT$3.28 loss in 2Q 2022) Second quarter 2023 results: EPS: NT$0.46 (up from NT$3.28 loss in 2Q 2022). Revenue: NT$238.2m (up 112% from 2Q 2022). Net income: NT$10.1m (up NT$82.1m from 2Q 2022). Profit margin: 4.3% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Board Change • Jul 17
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. 4 non-independent directors. Independent Director Yu Zhang 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. Announcement • Jul 14
Green World Hotels Co., Ltd. Appoints LIN, MENG-YU as Corporate Governance Officer, Effective July 19, 2023 Green World Hotels Co., Ltd. appointed a corporate governance officer. Name, title, and resume of the new position holder: LIN, MENG-YU, Financial Manager. Effective date: July 19, 2023. Buying Opportunity • Mar 28
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 1.1%. The fair value is estimated to be NT$52.06, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 43% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Nov 20
Third quarter 2022 earnings released: NT$0.53 loss per share (vs NT$0.76 loss in 3Q 2021) Third quarter 2022 results: NT$0.53 loss per share (improved from NT$0.76 loss in 3Q 2021). Revenue: NT$138.0m (up 64% from 3Q 2021). Net loss: NT$58.4m (loss narrowed 30% from 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Yi-Tsai Wu was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 28
Green World Hotels Co., Ltd. announced a financing transaction Green World Hotels Co., Ltd announced a private placement of not more than 18,000 common shares for gross proceeds of on October 26, 2022.
The price of common shares in this private placement shall not be lower
than 80% of the higher of the price calculated using any one of the following
two bases before the pricing date. Reported Earnings • May 16
First quarter 2022 earnings released: NT$0.54 loss per share (vs NT$0.79 loss in 1Q 2021) First quarter 2022 results: NT$0.54 loss per share (up from NT$0.79 loss in 1Q 2021). Revenue: NT$128.1m (up 28% from 1Q 2021). Net loss: NT$59.6m (loss narrowed 31% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Yi-Tsai Wu was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 03
Full year 2021 earnings released: NT$3.30 loss per share (vs NT$7.82 loss in FY 2020) Full year 2021 results: NT$3.30 loss per share (up from NT$7.82 loss in FY 2020). Revenue: NT$391.7m (down 11% from FY 2020). Net loss: NT$362.5m (loss narrowed 58% from FY 2020). 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 10% per year, which means it has not declined as severely as earnings. Announcement • Mar 31
Green World Hotels Co., Ltd., Annual General Meeting, Jun 23, 2022 Green World Hotels Co., Ltd., Annual General Meeting, Jun 23, 2022. Location: No. 528, Section 7, Zhongxiao East Road Nangang District Taipei Taiwan Agenda: To consider 2021 business report; to consider audit committees review report on the 2021 financial statements; to consider compensation of employee and directors; to consider status report of the accumulated losses reach one-half of pain-in capital; to consider amendment to the corporate social responsibility best practice; to consider election matters; and to consider other business matters. Announcement • Mar 29
Green World Hotels Co., Ltd. Announces Executive Changes Green World Hotels Co., Ltd. announced Name of the previous position holder is HUANG Chen-Chen, independent director, Green World Hotels Co., Ltd. Name of the new position holder: CHIU SHAO CHIN. Resume of the new position holder KISCO (TAIWAN) LTD. Reported Earnings • Nov 18
Third quarter 2021 earnings released: NT$0.76 loss per share (vs NT$0.65 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: NT$84.3m (down 21% from 3Q 2020). Net loss: NT$83.0m (loss widened 17% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 18
Second quarter 2021 earnings released: NT$0.92 loss per share (vs NT$1.65 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: NT$74.1m (up 52% from 2Q 2020). Net loss: NT$100.4m (loss narrowed 45% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Reported Earnings • May 17
First quarter 2021 earnings released: NT$0.79 loss per share (vs NT$4.93 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$100.0m (down 41% from 1Q 2020). Net loss: NT$86.8m (loss narrowed 84% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Executive Departure • Mar 02
CEO & GM Yohei Fukai has left the company On the 28th of February, Yohei Fukai's tenure as CEO & GM of the company ended after less than a year in the role. As of December 2020, Yohei personally held only 39.00k shares (NT$349k worth at the time). Yohei is the only executive to leave the company over the last 12 months. Under Yohei's leadership, the company delivered a total shareholder return of -27%. Reported Earnings • Feb 28
Full year 2020 earnings released: NT$7.82 loss per share (vs NT$0.55 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: NT$441.2m (down 64% from FY 2019). Net loss: NT$857.8m (down NT$917.8m from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 110 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 25
New 90-day high: NT$10.40 The company is up 21% from its price of NT$8.56 on 27 November 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 3.0% over the same period. Is New 90 Day High Low • Jan 25
New 90-day high: NT$9.54 The company is up 8.0% from its price of NT$8.87 on 28 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Hospitality industry, which is up 1.0% over the same period. Is New 90 Day High Low • Dec 01
New 90-day high: NT$9.41 The company is up 22% from its price of NT$7.69 on 02 September 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 12% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: NT$0.65 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$106.7m (down 64% from 3Q 2019). Net loss: NT$71.3m (loss widened NT$70.2m from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 123% 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.