Declared Dividend • May 18
Dividend of NT$0.26 announced Shareholders will receive a dividend of NT$0.26. Ex-date: 15th July 2026 Payment date: 7th August 2026 Dividend yield will be 1.9%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (70% earnings payout ratio) but not covered by cash flows (193% cash payout ratio). The dividend has decreased over the past 56 years, indicating a lack of growth and stability in payments. 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 less than the 32% EPS decline seen over the last 5 years. New Risk • May 16
New major risk - Revenue and earnings growth Earnings have declined by 0.6% 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 0.6% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (193% cash payout ratio). Profit margins are more than 30% lower than last year (1.2% net profit margin). Market cap is less than US$100m (NT$1.04b market cap, or US$33.1m). Reported Earnings • May 16
First quarter 2026 earnings released: EPS: NT$0.097 (vs NT$0.44 in 1Q 2025) First quarter 2026 results: EPS: NT$0.097 (down from NT$0.44 in 1Q 2025). Revenue: NT$558.6m (down 10% from 1Q 2025). Net income: NT$7.52m (down 78% from 1Q 2025). Profit margin: 1.3% (down from 5.5% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 18% per year. Reported Earnings • Mar 17
Full year 2025 earnings released: EPS: NT$0.71 (vs NT$2.10 in FY 2024) Full year 2025 results: EPS: NT$0.71 (down from NT$2.10 in FY 2024). Revenue: NT$2.50b (down 2.7% from FY 2024). Net income: NT$55.1m (down 66% from FY 2024). Profit margin: 2.2% (down from 6.4% in FY 2024). The decrease in margin was primarily driven by lower 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 19% per year, which means it is performing significantly worse than earnings. Announcement • Mar 10
Taihan Precision Technology Co., Ltd., Annual General Meeting, Jun 26, 2026 Taihan Precision Technology Co., Ltd., Annual General Meeting, Jun 26, 2026. Location: 3 floor no,300, sec.1 chuang ching rd., taoyuan district, taoyuan city Taiwan Reported Earnings • Nov 13
Third quarter 2025 earnings released: EPS: NT$0.23 (vs NT$0.56 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.23 (down from NT$0.56 in 3Q 2024). Revenue: NT$618.9m (down 8.6% from 3Q 2024). Net income: NT$17.7m (down 59% from 3Q 2024). Profit margin: 2.9% (down from 6.4% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 17
Second quarter 2025 earnings released: NT$0.06 loss per share (vs NT$0.54 profit in 2Q 2024) Second quarter 2025 results: NT$0.06 loss per share (down from NT$0.54 profit in 2Q 2024). Revenue: NT$645.7m (up 1.2% from 2Q 2024). Net loss: NT$4.71m (down 111% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • Jul 03
Upcoming dividend of NT$0.94 per share Eligible shareholders must have bought the stock before 10 July 2025. Payment date: 06 August 2025. Payout ratio is a comfortable 45% but the company is not cash flow positive. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.1%). Declared Dividend • May 14
Dividend increased to NT$0.94 Dividend of NT$0.94 is 130% higher than last year. Ex-date: 10th July 2025 Payment date: 6th August 2025 Dividend yield will be 4.4%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (45% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 19% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$0.44 (vs NT$0.43 in 1Q 2024) First quarter 2025 results: EPS: NT$0.44 (up from NT$0.43 in 1Q 2024). Revenue: NT$622.6m (up 14% from 1Q 2024). Net income: NT$33.9m (up 1.0% from 1Q 2024). Profit margin: 5.5% (down from 6.1% 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 4% per year whereas the company’s share price has increased by 2% per year. Announcement • May 01
Taihan Precision Technology Co., Ltd. to Report Q1, 2025 Results on May 12, 2025 Taihan Precision Technology Co., Ltd. announced that they will report Q1, 2025 results on May 12, 2025 Buy Or Sell Opportunity • Apr 30
Now 21% overvalued Over the last 90 days, the stock has fallen 9.1% to NT$21.35. The fair value is estimated to be NT$17.63, 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 7.6%. 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$20.00, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 18x in the Chemicals industry in Taiwan. Total returns to shareholders of 8.6% over the past three years. Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$2.10 (vs NT$1.39 in FY 2023) Full year 2024 results: EPS: NT$2.10 (up from NT$1.39 in FY 2023). Revenue: NT$2.56b (up 11% from FY 2023). Net income: NT$162.9m (up 52% from FY 2023). Profit margin: 6.4% (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 increased by 8% per year whereas the company’s share price has increased by 11% per year. Announcement • Mar 10
Taihan Precision Technology Co., Ltd., Annual General Meeting, Jun 20, 2025 Taihan Precision Technology Co., Ltd., Annual General Meeting, Jun 20, 2025. Location: no,300, sec.1 chuang ching rd., taoyuan district, taoyuan city Taiwan Announcement • Mar 01
Taihan Precision Technology Co., Ltd. to Report Fiscal Year 2024 Results on Mar 07, 2025 Taihan Precision Technology Co., Ltd. announced that they will report fiscal year 2024 results on Mar 07, 2025 New Risk • Nov 18
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 6.4% 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 (6.4% average weekly change). Market cap is less than US$100m (NT$2.01b market cap, or US$61.9m). Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.56 (vs NT$0.50 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.56 (up from NT$0.50 in 3Q 2023). Revenue: NT$676.9m (up 9.5% from 3Q 2023). Net income: NT$43.3m (up 13% from 3Q 2023). Profit margin: 6.4% (up from 6.2% 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 17% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.54 (vs NT$0.34 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.54 (up from NT$0.34 in 2Q 2023). Revenue: NT$638.1m (up 12% from 2Q 2023). Net income: NT$41.7m (up 59% from 2Q 2023). Profit margin: 6.5% (up from 4.6% 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 28% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Jul 31
Taihan Precision Technology Co., Ltd. to Report Q2, 2024 Results on Aug 07, 2024 Taihan Precision Technology Co., Ltd. announced that they will report Q2, 2024 results on Aug 07, 2024 Upcoming Dividend • Jun 27
Upcoming dividend of NT$0.41 per share Eligible shareholders must have bought the stock before 04 July 2024. Payment date: 01 August 2024. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Taiwanese dividend payers (4.2%). In line with average of industry peers (2.2%). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.43 (vs NT$0.20 in 1Q 2023) First quarter 2024 results: EPS: NT$0.43 (up from NT$0.20 in 1Q 2023). Revenue: NT$547.4m (down 4.4% from 1Q 2023). Net income: NT$33.6m (up 115% from 1Q 2023). Profit margin: 6.1% (up from 2.7% in 1Q 2023). The increase in margin was driven by lower expenses. 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 3% per year, which means it is significantly lagging earnings. Declared Dividend • May 10
Dividend of NT$0.41 announced Dividend of NT$0.41 is the same as last year. Ex-date: 4th July 2024 Payment date: 1st August 2024 Dividend yield will be 2.1%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (10% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 1.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 17
Full year 2023 earnings released: EPS: NT$1.39 (vs NT$2.05 in FY 2022) Full year 2023 results: EPS: NT$1.39 (down from NT$2.05 in FY 2022). Revenue: NT$2.32b (down 13% from FY 2022). Net income: NT$107.4m (down 32% from FY 2022). Profit margin: 4.6% (down from 5.9% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Mar 09
Taihan Precision Technology Co., Ltd., Annual General Meeting, Jun 12, 2024 Taihan Precision Technology Co., Ltd., Annual General Meeting, Jun 12, 2024. Location: No.568,Sec.1,Minsheng N.Rd Guishan Dist Taoyuan City Taiwan Agenda: To consider 2023 Business Report; to consider 2023 Audit Committee's Audit Report; to consider 2023 Employees' and Directors' Remuneration Allocation Report; to consider 2023 Directors' Remuneration Report; to consider 2023 Cash dividend of Earnings Distribution Statement Report; to consider PRC Investment Information; and to consider amendment of Rules of Procedure for Board of Directors. New Risk • Nov 25
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.8% Last year net profit margin: 7.2% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Profit margins are more than 30% lower than last year (3.8% net profit margin). Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Market cap is less than US$100m (NT$1.69b market cap, or US$53.4m). Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: NT$0.34 (vs NT$0.57 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.34 (down from NT$0.57 in 2Q 2022). Revenue: NT$572.4m (down 8.4% from 2Q 2022). Net income: NT$26.2m (down 41% from 2Q 2022). Profit margin: 4.6% (down from 7.1% in 2Q 2022). The decrease in margin was driven by lower revenue. 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 11% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 03
Upcoming dividend of NT$0.41 per share at 1.7% yield Eligible shareholders must have bought the stock before 10 July 2023. Payment date: 03 August 2023. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (3.7%). Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$31.20, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 15x in the Chemicals industry in Taiwan. Total returns to shareholders of 150% over the past three years. 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. 4 non-independent directors. Independent Director Junyi Lin 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. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 18% share price decline to NT$20.90, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 12x in the Chemicals industry in Taiwan. Total returns to shareholders of 69% over the past three years. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improved over the past week After last week's 20% share price gain to NT$28.45, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 16x in the Chemicals industry in Taiwan. Total returns to shareholders of 133% over the past three years. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.58 (vs NT$0.14 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.58 (up from NT$0.14 in 2Q 2021). Revenue: NT$625.2m (up 12% from 2Q 2021). Net income: NT$44.3m (up 298% from 2Q 2021). Profit margin: 7.1% (up from 2.0% in 2Q 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 but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 26
Upcoming dividend of NT$0.40 per share Eligible shareholders must have bought the stock before 02 August 2022. Payment date: 30 August 2022. Payout ratio is a comfortable 31% but the company is paying out more than the cash it is generating. Trailing yield: 1.9%. Lower than top quartile of Taiwanese dividend payers (6.6%). Lower than average of industry peers (8.0%). Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.34 (vs NT$0.065 in 1Q 2021) First quarter 2022 results: EPS: NT$0.34 (up from NT$0.065 in 1Q 2021). Revenue: NT$525.3m (up 38% from 1Q 2021). Net income: NT$26.5m (up 432% from 1Q 2021). Profit margin: 5.0% (up from 1.3% in 1Q 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 but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • Apr 03
Full year 2021 earnings released: EPS: NT$1.00 (vs NT$2.48 in FY 2020) Full year 2021 results: EPS: NT$1.00 (down from NT$2.48 in FY 2020). Revenue: NT$2.09b (up 9.4% from FY 2020). Net income: NT$77.1m (down 60% from FY 2020). Profit margin: 3.7% (down from 10% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.29 (vs NT$0.36 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$557.1m (up 3.6% from 3Q 2020). Net income: NT$22.2m (down 20% from 3Q 2020). Profit margin: 4.0% (down from 5.2% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 11% per year. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$0.14 (vs NT$2.43 in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$560.5m (up 60% from 2Q 2020). Net income: NT$11.2m (down 94% from 2Q 2020). Profit margin: 2.0% (down from 54% in 2Q 2020). 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. Upcoming Dividend • Aug 04
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 11 August 2021. Payment date: 07 September 2021. Trailing yield: 6.3%. Within top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (2.8%). Reported Earnings • May 16
First quarter 2021 earnings released: EPS NT$0.06 (vs NT$0.043 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$379.8m (down 19% from 1Q 2020). Net income: NT$4.98m (up 47% from 1Q 2020). Profit margin: 1.3% (up from 0.7% in 1Q 2020). 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 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS NT$2.48 (vs NT$0.87 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: NT$1.91b (down 19% from FY 2019). Net income: NT$192.7m (up 163% from FY 2019). Profit margin: 10% (up from 3.1% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Mar 20
Taihan Precision Technology Co., Ltd., Annual General Meeting, Jun 18, 2021 Taihan Precision Technology Co., Ltd., Annual General Meeting, Jun 18, 2021. Valuation Update With 7 Day Price Move • Dec 25
Investor sentiment improved over the past week After last week's 21% share price gain to NT$27.00, the stock is trading at a trailing P/E ratio of 8.9x, up from the previous P/E ratio of 7.4x. This compares to an average P/E of 20x in the Chemicals industry in Taiwan. Total returns to shareholders over the past three years are 67%. Is New 90 Day High Low • Dec 18
New 90-day high: NT$22.30 The company is up 13% from its price of NT$19.70 on 18 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 9.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.36 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$537.9m (down 12% from 3Q 2019). Net income: NT$27.8m (up 20% from 3Q 2019). Profit margin: 5.2% (up from 3.8% in 3Q 2019). The increase in margin was driven by lower expenses. 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 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 11
Market bids up stock over the past week After last week's 16% share price gain to NT$22.10, the stock is trading at a trailing P/E ratio of 7.6x, up from the previous P/E ratio of 6.6x. This compares to an average P/E of 22x in the Chemicals industry in Taiwan. Total returns to shareholders over the past three years are 47%. Is New 90 Day High Low • Nov 09
New 90-day high: NT$20.20 The company is up 29% from its price of NT$15.60 on 11 August 2020. The Taiwanese market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 2.0% over the same period.