Reported Earnings • May 14
First quarter 2026 earnings released: EPS: NT$1.00 (vs NT$1.37 in 1Q 2025) First quarter 2026 results: EPS: NT$1.00. Revenue: NT$210.3m (up 6.0% from 1Q 2025). Net income: NT$31.6m (up 22% from 1Q 2025). Profit margin: 15% (up from 13% in 1Q 2025). The increase in margin was driven by higher revenue. Upcoming Dividend • Mar 22
Upcoming dividend of NT$3.00 per share Eligible shareholders must have bought the stock before 27 March 2026. Payment date: 23 April 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.4%. Lower than top quartile of Taiwanese dividend payers (5.3%). In line with average of industry peers (4.7%). Reported Earnings • Mar 11
Full year 2025 earnings released: EPS: NT$6.12 (vs NT$7.02 in FY 2024) Full year 2025 results: EPS: NT$6.12 (down from NT$7.02 in FY 2024). Revenue: NT$870.8m (up 4.2% from FY 2024). Net income: NT$116.7m (down 12% from FY 2024). Profit margin: 13% (down from 16% 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 15% per year whereas the company’s share price has increased by 10% per year. Declared Dividend • Mar 08
Dividend of NT$3.00 announced Shareholders will receive a dividend of NT$3.00. Ex-date: 27th March 2026 Payment date: 23rd April 2026 Dividend yield will be 6.6%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is not covered by earnings (110% earnings payout ratio). However, it is well covered by cash flows (31% cash payout ratio). The dividend has increased by an average of 4.3% per year over the past 9 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 23% to bring the payout ratio under control, which is more than the 12% EPS growth achieved over the last 5 years. Announcement • Mar 05
Success Prime Corporation, Annual General Meeting, May 29, 2026 Success Prime Corporation, Annual General Meeting, May 29, 2026. Location: 14 floor no,17, hsu ch`ang st., jhongjheng district, taipei city Taiwan New Risk • Nov 27
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: NT$0 (US$0) 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 Risk Market cap is less than US$10m (NT$0 market cap, or US$0). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: NT$2.09 (vs NT$2.09 in 3Q 2024) Third quarter 2025 results: EPS: NT$2.09. Revenue: NT$234.0m (up 3.0% from 3Q 2024). Net income: NT$39.8m (flat on 3Q 2024). Profit margin: 17% (in line with 3Q 2024). Upcoming Dividend • Aug 20
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 27 August 2025. Payment date: 19 September 2025. Payout ratio is on the higher end at 87%, however this is supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (4.8%). Reported Earnings • Aug 17
Second quarter 2025 earnings released: EPS: NT$0.91 (vs NT$1.27 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.91 (down from NT$1.27 in 2Q 2024). Revenue: NT$206.0m (up 4.7% from 2Q 2024). Net income: NT$17.4m (down 28% from 2Q 2024). Profit margin: 8.5% (down from 12% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% 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 10
First quarter 2025 earnings released: EPS: NT$1.37 (vs NT$1.51 in 1Q 2024) First quarter 2025 results: EPS: NT$1.37 (down from NT$1.51 in 1Q 2024). Revenue: NT$198.4m (up 4.0% from 1Q 2024). Net income: NT$26.0m (down 9.2% from 1Q 2024). Profit margin: 13% (down from 15% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • May 01
Success Prime Corporation to Report Q1, 2025 Results on May 08, 2025 Success Prime Corporation announced that they will report Q1, 2025 results on May 08, 2025 Upcoming Dividend • Mar 20
Upcoming dividend of NT$5.68 per share Eligible shareholders must have bought the stock before 27 March 2025. Payment date: 24 April 2025. Payout ratio is on the higher end at 81%, however this is supported by cash flows. Trailing yield: 6.4%. Within top quartile of Taiwanese dividend payers (4.6%). Higher than average of industry peers (4.1%). Reported Earnings • Mar 13
Full year 2024 earnings released: EPS: NT$7.02 (vs NT$5.48 in FY 2023) Full year 2024 results: EPS: NT$7.02 (up from NT$5.48 in FY 2023). Revenue: NT$835.8m (up 9.3% from FY 2023). Net income: NT$132.8m (up 28% from FY 2023). Profit margin: 16% (up from 14% 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 30% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Announcement • Feb 27
Success Prime Corporation to Report Fiscal Year 2024 Results on Mar 06, 2025 Success Prime Corporation announced that they will report fiscal year 2024 results on Mar 06, 2025 Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$2.09 (vs NT$1.79 in 3Q 2023) Third quarter 2024 results: EPS: NT$2.09 (up from NT$1.79 in 3Q 2023). Revenue: NT$227.3m (up 6.8% from 3Q 2023). Net income: NT$39.6m (up 17% from 3Q 2023). Profit margin: 17% (up from 16% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$1.27 (vs NT$0.93 in 2Q 2023) Second quarter 2024 results: EPS: NT$1.27 (up from NT$0.93 in 2Q 2023). Revenue: NT$196.8m (up 12% from 2Q 2023). Net income: NT$24.1m (up 36% from 2Q 2023). Profit margin: 12% (up from 10.0% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Jul 30
Success Prime Corporation to Report Q2, 2024 Results on Aug 06, 2024 Success Prime Corporation announced that they will report Q2, 2024 results on Aug 06, 2024 Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$1.51 (vs NT$0.96 in 1Q 2023) First quarter 2024 results: EPS: NT$1.51 (up from NT$0.96 in 1Q 2023). Revenue: NT$190.9m (up 13% from 1Q 2023). Net income: NT$28.6m (up 57% from 1Q 2023). Profit margin: 15% (up from 11% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 04
Upcoming dividend of NT$4.68 per share Eligible shareholders must have bought the stock before 11 April 2024. Payment date: 10 May 2024. Payout ratio is on the higher end at 85%, however this is supported by cash flows. Trailing yield: 6.2%. Within top quartile of Taiwanese dividend payers (4.6%). Higher than average of industry peers (3.8%). Reported Earnings • Mar 21
Full year 2023 earnings released: EPS: NT$5.48 (vs NT$4.16 in FY 2022) Full year 2023 results: EPS: NT$5.48 (up from NT$4.16 in FY 2022). Revenue: NT$764.8m (up 8.9% from FY 2022). Net income: NT$103.6m (up 32% from FY 2022). Profit margin: 14% (up from 11% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Declared Dividend • Mar 10
Dividend increased to NT$4.68 Dividend of NT$4.68 is 42% higher than last year. Ex-date: 11th April 2024 Payment date: 10th May 2024 Dividend yield will be 7.7%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is covered by both earnings (70% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has increased by an average of 7.0% per year over the past 7 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 22% to shift the payout ratio to a potentially unsustainable range, which is more than the 5.8% EPS decline seen over the last 5 years. Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: NT$1.79 (vs NT$1.68 in 3Q 2022) Third quarter 2023 results: EPS: NT$1.79 (up from NT$1.68 in 3Q 2022). Revenue: NT$212.9m (up 7.1% from 3Q 2022). Net income: NT$33.9m (up 6.3% from 3Q 2022). Profit margin: 16% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Oct 31
Success Prime Corporation Announces Chief Internal Auditor's Leave Without Pay and the Office Success Prime Corporation announced the Chief Internal Auditor's Leave without Pay and the Office agent during the Leave. Name, title, and resume of the previous position holder: Long-Haw Wang, the Chief Internal Auditor; Reason for the change: Leave without pay(parental leave); Effective date November 1, 2023. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$0.93 (vs NT$0.59 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.93 (up from NT$0.59 in 2Q 2022). Revenue: NT$176.3m (up 14% from 2Q 2022). Net income: NT$17.7m (up 58% from 2Q 2022). Profit margin: 10.0% (up from 7.2% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 07
Upcoming dividend of NT$3.30 per share at 6.2% yield Eligible shareholders must have bought the stock before 14 April 2023. Payment date: 09 May 2023. Payout ratio is on the higher end at 79%, however this is supported by cash flows. Trailing yield: 6.2%. Within top quartile of Taiwanese dividend payers (5.8%). Higher than average of industry peers (3.4%). Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: NT$4.16 (vs NT$3.02 in FY 2021) Full year 2022 results: EPS: NT$4.16 (up from NT$3.02 in FY 2021). Revenue: NT$702.3m (up 6.1% from FY 2021). Net income: NT$78.7m (up 38% from FY 2021). Profit margin: 11% (up from 8.6% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 3% per year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Ying-De Wu was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 16
Second quarter 2022 earnings released: EPS: NT$0.59 (vs NT$0.47 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.59 (up from NT$0.47 in 2Q 2021). Revenue: NT$155.4m (up 1.9% from 2Q 2021). Net income: NT$11.2m (up 28% from 2Q 2021). Profit margin: 7.2% (up from 5.7% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 13% per year. Upcoming Dividend • Jun 17
Upcoming dividend of NT$3.00 per share Eligible shareholders must have bought the stock before 24 June 2022. Payment date: 19 July 2022. Payout ratio is on the higher end at 98%, however this is supported by cash flows. Trailing yield: 6.2%. Within top quartile of Taiwanese dividend payers (6.1%). Higher than average of industry peers (3.4%). Announcement • Jun 11
Success Prime Corporation Announces Cash Dividend, Payable on July 19, 2022 Success Prime Corporation announced appropriations of earnings in cash dividend of TWD 2.2 per share, total amount TWD 41,629,368 and cash distributed from capital surplus of TWD 0.8 per share, total amount of TWD 15,137,952, payable on July 19, 2022. Ex-rights (ex-dividend) trading date is June 24, 2022 and ex-rights (ex-dividend) record date is July 2, 2022. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.84 (vs NT$0.79 in 1Q 2021) First quarter 2022 results: EPS: NT$0.84 (up from NT$0.79 in 1Q 2021). Revenue: NT$156.2m (flat on 1Q 2021). Net income: NT$15.9m (up 7.0% from 1Q 2021). Profit margin: 10% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 7 new directors. 2 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). GM & Director Shu-ling Tseng is the most experienced director on the board, commencing their role in 2019. Independent Director Ying-De Wu was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS NT$1.23 (vs NT$1.65 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$174.4m (down 8.2% from 3Q 2020). Net income: NT$23.3m (down 25% from 3Q 2020). Profit margin: 13% (down from 16% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$0.47 (vs NT$0.45 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: NT$152.5m (down 28% from 2Q 2020). Net income: NT$8.73m (up 2.6% from 2Q 2020). Profit margin: 5.7% (up from 4.0% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 29% 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. Upcoming Dividend • Jul 09
Upcoming dividend of NT$4.52 per share Eligible shareholders must have bought the stock before 16 July 2021. Payment date: 09 August 2021. Trailing yield: 7.8%. Within top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (2.7%). Reported Earnings • May 16
First quarter 2021 earnings released: EPS NT$0.79 (vs NT$0.74 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: NT$156.3m (down 22% from 1Q 2020). Net income: NT$14.8m (up 5.2% from 1Q 2020). Profit margin: 9.5% (up from 7.1% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 20
Full year 2020 earnings released: EPS NT$3.30 (vs NT$4.01 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$776.4m (down 12% from FY 2019). Net income: NT$62.2m (down 18% from FY 2019). Profit margin: 8.0% (down from 8.6% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improved over the past week After last week's 22% share price gain to NT$61.40, the stock is trading at a trailing P/E ratio of 16.6x, up from the previous P/E ratio of 13.6x. This compares to an average P/E of 17x in the Consumer Services industry in Taiwan. Total return to shareholders over the past three years is a loss of 50%. Announcement • Mar 10
Success Prime Corporation, Annual General Meeting, May 28, 2021 Success Prime Corporation, Annual General Meeting, May 28, 2021. Location: 14F., No.17, Xuchang St., Zhongzheng Dist. Taipei City Taiwan Agenda: To consider the company's 2020 annual business report; to consider audit committee's review of the 2020 audited financial statements; to consider report on the 2020 compensation distribution of employees and directors; to consider report on the implementation of the company's share purchases; to consider revised the report on the measure of the second share buy-back of transferring to employees; and to consider any other matters. Is New 90 Day High Low • Feb 17
New 90-day low: NT$49.85 The company is down 17% from its price of NT$59.80 on 19 November 2020. The Taiwanese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is down 9.0% over the same period. Is New 90 Day High Low • Jan 20
New 90-day low: NT$53.00 The company is down 12% from its price of NT$60.20 on 22 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is down 4.0% over the same period. Is New 90 Day High Low • Dec 30
New 90-day low: NT$53.10 The company is down 13% from its price of NT$61.00 on 30 September 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is down 3.0% over the same period. Is New 90 Day High Low • Dec 14
New 90-day low: NT$54.70 The company is down 10.0% from its price of NT$60.80 on 15 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is down 3.0% over the same period. Is New 90 Day High Low • Nov 23
New 90-day low: NT$59.00 The company is down 5.0% from its price of NT$61.80 on 25 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is down 2.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$1.65 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$189.9m (down 17% from 3Q 2019). Net income: NT$31.1m (up 17% from 3Q 2019). Profit margin: 16% (up from 12% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Sep 25
New 90-day low: NT$59.10 The company is down 6.0% from its price of NT$62.85 on 24 June 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Consumer Services industry, which is also down 6.0% over the same period.