Upcoming Dividend • Jun 24
Upcoming dividend of NT$3.10 per share Eligible shareholders must have bought the stock before 01 July 2026. Payment date: 28 July 2026. Payout ratio and cash payout ratio are on the higher end at 80% and 81% respectively. Trailing yield: 7.0%. Within top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (1.3%). Reported Earnings • May 12
First quarter 2026 earnings released: EPS: NT$1.00 (vs NT$1.10 in 1Q 2025) First quarter 2026 results: EPS: NT$1.00. Revenue: NT$234.3m (down 5.7% from 1Q 2025). Net income: NT$62.4m (up 3.0% from 1Q 2025). Profit margin: 27% (up from 24% in 1Q 2025). The increase in margin was driven by lower expenses. Announcement • Mar 06
Shih-Kuen Plastics Co., Ltd., Annual General Meeting, Jun 12, 2026 Shih-Kuen Plastics Co., Ltd., Annual General Meeting, Jun 12, 2026. Location: 3 floor no,56, hsin sheng n. rd., madou district, tainan city Taiwan Reported Earnings • Mar 06
Full year 2025 earnings released: EPS: NT$3.83 (vs NT$3.97 in FY 2024) Full year 2025 results: EPS: NT$3.83 (down from NT$3.97 in FY 2024). Revenue: NT$1.08b (up 3.5% from FY 2024). Net income: NT$211.0m (down 3.3% from FY 2024). Profit margin: 20% (down from 21% 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 14% per year whereas the company’s share price has increased by 11% per year. Reported Earnings • Nov 11
Third quarter 2025 earnings released: EPS: NT$1.42 (vs NT$0.70 in 3Q 2024) Third quarter 2025 results: EPS: NT$1.42 (up from NT$0.70 in 3Q 2024). Revenue: NT$274.9m (down 2.6% from 3Q 2024). Net income: NT$78.1m (up 103% from 3Q 2024). Profit margin: 28% (up from 14% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 12% per year and the company’s share price has also increased by 12% per year. Buy Or Sell Opportunity • Aug 18
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to NT$40.75. The fair value is estimated to be NT$51.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.6% over the last 3 years. Earnings per share has grown by 12%. Reported Earnings • Aug 09
Second quarter 2025 earnings released: EPS: NT$0.09 (vs NT$1.08 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.09 (down from NT$1.08 in 2Q 2024). Revenue: NT$300.4m (up 8.1% from 2Q 2024). Net income: NT$5.14m (down 91% from 2Q 2024). Profit margin: 1.7% (down from 21% 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 12% per year whereas the company’s share price has increased by 13% per year. Buy Or Sell Opportunity • Jul 30
Now 25% undervalued Over the last 90 days, the stock has risen 2.5% to NT$45.55. The fair value is estimated to be NT$60.89, however this is not to be taken as a buy 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 18%. Upcoming Dividend • Jul 23
Upcoming dividend of NT$3.20 per share Eligible shareholders must have bought the stock before 30 July 2025. Payment date: 26 August 2025. Payout ratio and cash payout ratio are on the higher end at 81% and 95% respectively. Trailing yield: 6.8%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.0%). Reported Earnings • May 07
First quarter 2025 earnings released: EPS: NT$1.10 (vs NT$1.09 in 1Q 2024) First quarter 2025 results: EPS: NT$1.10 (up from NT$1.09 in 1Q 2024). Revenue: NT$248.4m (up 13% from 1Q 2024). Net income: NT$60.6m (flat on 1Q 2024). Profit margin: 24% (down from 27% 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 18% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 23
Full year 2024 earnings released: EPS: NT$3.97 (vs NT$2.92 in FY 2023) Full year 2024 results: EPS: NT$3.97 (up from NT$2.92 in FY 2023). Revenue: NT$1.04b (up 11% from FY 2023). Net income: NT$218.2m (up 36% from FY 2023). Profit margin: 21% (up from 17% 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 18% per year whereas the company’s share price has increased by 14% per year. Announcement • Mar 13
Shih-Kuen Plastics Co., Ltd., Annual General Meeting, Jun 19, 2025 Shih-Kuen Plastics Co., Ltd., Annual General Meeting, Jun 19, 2025, at 09:00 Taipei Standard Time. Location: 3 floor no,56, hsin sheng n. rd., madou district, tainan city Taiwan Buy Or Sell Opportunity • Jan 14
Now 21% overvalued Over the last 90 days, the stock has fallen 7.1% to NT$43.10. The fair value is estimated to be NT$35.52, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.8% over the last 3 years. Earnings per share has grown by 17%. Buy Or Sell Opportunity • Nov 21
Now 21% overvalued Over the last 90 days, the stock has fallen 3.9% to NT$42.75. The fair value is estimated to be NT$35.31, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.8% over the last 3 years. Earnings per share has grown by 17%. Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.70 (vs NT$1.13 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.70 (down from NT$1.13 in 3Q 2023). Revenue: NT$282.2m (up 11% from 3Q 2023). Net income: NT$38.5m (down 38% from 3Q 2023). Profit margin: 14% (down from 25% in 3Q 2023). The decrease in margin was driven by higher expenses. 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 10% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Oct 09
Now 21% undervalued Over the last 90 days, the stock has risen 1.2% to NT$46.10. The fair value is estimated to be NT$58.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.2% over the last 3 years. Earnings per share has grown by 18%. Buy Or Sell Opportunity • Sep 12
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at NT$46.25. The fair value is estimated to be NT$58.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.2% over the last 3 years. Earnings per share has grown by 18%. Upcoming Dividend • Jul 05
Upcoming dividend of NT$2.50 per share Eligible shareholders must have bought the stock before 09 July 2024. Payment date: 05 August 2024. Payout ratio is a comfortable 73% and this is well supported by cash flows. Trailing yield: 5.4%. Within top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.2%). Declared Dividend • Jun 21
Dividend of NT$2.50 announced Shareholders will receive a dividend of NT$2.50. Ex-date: 9th July 2024 Payment date: 5th August 2024 Dividend yield will be 5.5%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (73% earnings payout ratio) and cash flows (69% cash payout ratio). The dividend has increased by an average of 3.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 1.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 25
Full year 2023 earnings released: EPS: NT$2.91 (vs NT$2.67 in FY 2022) Full year 2023 results: EPS: NT$2.91 (up from NT$2.67 in FY 2022). Revenue: NT$941.0m (up 3.4% from FY 2022). Net income: NT$160.3m (up 9.2% from FY 2022). Profit margin: 17% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Mar 14
Shih-Kuen Plastics Co., Ltd., Annual General Meeting, Jun 19, 2024 Shih-Kuen Plastics Co., Ltd., Annual General Meeting, Jun 19, 2024. Buy Or Sell Opportunity • Mar 13
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 5.9% to NT$39.70. The fair value is estimated to be NT$32.96, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.7% over the last 3 years. Earnings per share has grown by 13%. Valuation Update With 7 Day Price Move • Dec 26
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$44.35, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 21x in the Chemicals industry in Taiwan. Total returns to shareholders of 65% over the past three years. New Risk • Nov 18
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 23% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 2.7% per year over the past 5 years. High level of non-cash earnings (23% accrual ratio). Minor Risks Dividend is not well covered by cash flows (161% cash payout ratio). Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (NT$2.12b market cap, or US$66.6m). New Risk • Oct 17
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 6.0% 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 Earnings have declined by 4.8% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.0% average weekly change). Market cap is less than US$100m (NT$1.93b market cap, or US$59.5m). Reported Earnings • Aug 14
Second quarter 2023 earnings released: EPS: NT$0.84 (vs NT$0.80 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.84 (up from NT$0.80 in 2Q 2022). Revenue: NT$216.3m (down 18% from 2Q 2022). Net income: NT$46.0m (up 4.5% from 2Q 2022). Profit margin: 21% (up from 17% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 29
Upcoming dividend of NT$2.00 per share at 5.9% yield Eligible shareholders must have bought the stock before 06 July 2023. Payment date: 04 August 2023. Payout ratio is on the higher end at 81%, however this is supported by cash flows. Trailing yield: 5.9%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.6%). Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: NT$2.67 (vs NT$2.03 in FY 2021) Full year 2022 results: EPS: NT$2.67 (up from NT$2.03 in FY 2021). Revenue: NT$909.7m (down 22% from FY 2021). Net income: NT$146.9m (up 32% from FY 2021). Profit margin: 16% (up from 9.5% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Aug 07
Second quarter 2022 earnings released: EPS: NT$0.80 (vs NT$0.29 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.80 (up from NT$0.29 in 2Q 2021). Revenue: NT$262.6m (down 4.9% from 2Q 2021). Net income: NT$44.0m (up 174% from 2Q 2021). Profit margin: 17% (up from 5.8% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 8% per year. Upcoming Dividend • Jul 19
Upcoming dividend of NT$1.80 per share Eligible shareholders must have bought the stock before 26 July 2022. Payment date: 24 August 2022. Payout ratio is on the higher end at 86%, and the cash payout ratio is above 100%. Trailing yield: 6.0%. Lower than top quartile of Taiwanese dividend payers (6.8%). Lower than average of industry peers (8.3%). Reported Earnings • May 12
First quarter 2022 earnings released: EPS: NT$0.76 (vs NT$0.69 in 1Q 2021) First quarter 2022 results: EPS: NT$0.76 (up from NT$0.69 in 1Q 2021). Revenue: NT$259.0m (down 4.3% from 1Q 2021). Net income: NT$41.6m (up 9.3% from 1Q 2021). Profit margin: 16% (up from 14% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Mar 29
Shih-Kuen Plastics Co., Ltd., Annual General Meeting, Jun 24, 2022 Shih-Kuen Plastics Co., Ltd., Annual General Meeting, Jun 24, 2022. Reported Earnings • Mar 28
Full year 2021 earnings released: EPS: NT$2.03 (vs NT$2.08 in FY 2020) Full year 2021 results: EPS: NT$2.03 (down from NT$2.08 in FY 2020). Revenue: NT$1.17b (up 17% from FY 2020). Net income: NT$111.4m (down 2.6% from FY 2020). Profit margin: 9.5% (down from 11% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 05
Third quarter 2021 earnings released: EPS NT$0.40 (vs NT$0.56 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$269.0m (up 4.3% from 3Q 2020). Net income: NT$22.1m (down 29% from 3Q 2020). Profit margin: 8.2% (down from 12% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 06
Second quarter 2021 earnings released: EPS NT$0.29 (vs NT$0.20 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$276.2m (up 35% from 2Q 2020). Net income: NT$16.0m (up 48% from 2Q 2020). Profit margin: 5.8% (up from 5.3% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Upcoming Dividend • Jul 22
Upcoming dividend of NT$1.80 per share Eligible shareholders must have bought the stock before 29 July 2021. Payment date: 31 August 2021. Trailing yield: 5.4%. Within top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (2.9%). Reported Earnings • May 04
First quarter 2021 earnings released: EPS NT$0.69 (vs NT$0.72 in 1Q 2020) The company reported a mediocre first quarter result with weaker earnings, although profit margins were flat and revenues improved. First quarter 2021 results: Revenue: NT$270.7m (up 1.7% from 1Q 2020). Net income: NT$38.1m (down 4.1% from 1Q 2020). Profit margin: 14% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Feb 26
Shih-Kuen Plastics Co., Ltd., Annual General Meeting, Jun 25, 2021 Shih-Kuen Plastics Co., Ltd., Annual General Meeting, Jun 25, 2021. Location: Ma-Dou District Agriculture Office Building 3F, 56 Xing Sheng North Road, Tainan Taiwan Agenda: To consider business Report 2020; to consider Supervisors Review Financial Statement 2020; to consider report on Remuneration Distribution of Employees; to consider acknowledgment of the 2020 annual final accounting ledgers and statements; and to consider acknowledgment of the 2020 Earnings Distribution. Reported Earnings • Feb 26
Full year 2020 earnings released: EPS NT$2.08 (vs NT$2.34 in FY 2019) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$1.01b (down 3.9% from FY 2019). Net income: NT$114.4m (down 11% from FY 2019). Profit margin: 11% (in line with FY 2019). 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 1% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 25
New 90-day high: NT$32.50 The company is up 1.0% from its price of NT$32.20 on 26 November 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 9.0% over the same period. Is New 90 Day High Low • Jan 26
New 90-day low: NT$31.90 The company is down 1.0% from its price of NT$32.20 on 28 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 12% over the same period. Reported Earnings • Nov 08
Third quarter 2020 earnings released: EPS NT$0.56 The company reported a poor third quarter result with weaker earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: NT$257.8m (down 1.6% from 3Q 2019). Net income: NT$31.0m (down 3.0% from 3Q 2019). Profit margin: 12% (in line with 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has remained flat, which means it is well ahead of earnings.