Reported Earnings • May 14
First quarter 2026 earnings released: EPS: NT$0.079 (vs NT$0.13 in 1Q 2025) First quarter 2026 results: EPS: NT$0.079 (down from NT$0.13 in 1Q 2025). Revenue: NT$688.4m (down 8.5% from 1Q 2025). Net income: NT$51.8m (down 38% from 1Q 2025). Profit margin: 7.5% (down from 11% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. New Risk • Mar 22
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 25% 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 130% Cash payout ratio: 336% Earnings have declined by 46% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Reported Earnings • Mar 12
Full year 2025 earnings released: EPS: NT$0.84 (vs NT$0.48 in FY 2024) Full year 2025 results: EPS: NT$0.84 (up from NT$0.48 in FY 2024). Revenue: NT$3.02b (up 1.0% from FY 2024). Net income: NT$556.3m (up 74% from FY 2024). Profit margin: 18% (up from 11% 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 65% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Mar 06
Chia Hsin Cement Corporation, Annual General Meeting, May 22, 2026 Chia Hsin Cement Corporation, Annual General Meeting, May 22, 2026, at 09:00 Taipei Standard Time. Location: 7 floor no,66, wu kung rd., sinjhuang district, new taipei city Taiwan New Risk • Nov 13
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: 9.3% Last year net profit margin: 15% 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: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 130% Cash payout ratio: 95% Earnings have declined by 46% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (9.3% net profit margin). Reported Earnings • Nov 13
Third quarter 2025 earnings released: EPS: NT$1.04 (vs NT$0.73 in 3Q 2024) Third quarter 2025 results: EPS: NT$1.04 (up from NT$0.73 in 3Q 2024). Revenue: NT$723.7m (down 6.7% from 3Q 2024). Net income: NT$687.6m (up 42% from 3Q 2024). Profit margin: 95% (up from 63% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. New Risk • Aug 15
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 462% Cash payout ratio: 111% Dividend yield: 4.0% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 462% Cash payout ratio: 111% Earnings have declined by 42% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Reported Earnings • Aug 15
Second quarter 2025 earnings released: NT$0.44 loss per share (vs NT$0.11 profit in 2Q 2024) Second quarter 2025 results: NT$0.44 loss per share (down from NT$0.11 profit in 2Q 2024). Revenue: NT$768.5m (up 4.1% from 2Q 2024). Net loss: NT$291.9m (down NT$363.9m from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 17
Upcoming dividend of NT$0.55 per share Eligible shareholders must have bought the stock before 24 July 2025. Payment date: 21 August 2025. Payout ratio is on the higher end at 82%, however this is supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (5.1%). Declared Dividend • Jun 28
Dividend increased to NT$0.55 Dividend of NT$0.55 is 10% higher than last year. Ex-date: 24th July 2025 Payment date: 21st August 2025 Dividend yield will be 3.7%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by earnings (82% earnings payout ratio) but not covered by cash flows (102% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 3.6% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 17
Chia Hsin Cement Corporation Approves Board Elections Chia Hsin Cement Corporation announced that at its AGM held on May 16, 2025, the shareholders approved election of Director: Jason K. L. Chang; Director: Tong Yang Chia Hsin Int'l Corp.-Alec Jun-Ci Chang; Director: Chen-Ching Chen; Independent Director: Pao-Chu Lin; Independent Director: Kevin Kuo-I Chen; Independent Director: Mei-Ling Chang. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$0.13 (vs NT$0.059 loss in 1Q 2024) First quarter 2025 results: EPS: NT$0.13 (up from NT$0.059 loss in 1Q 2024). Revenue: NT$752.5m (up 7.6% from 1Q 2024). Net income: NT$83.2m (up NT$121.9m from 1Q 2024). Profit margin: 11% (up from net loss in 1Q 2024). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • May 01
Chia Hsin Cement Corporation to Report Q1, 2025 Results on May 08, 2025 Chia Hsin Cement Corporation announced that they will report Q1, 2025 results on May 08, 2025 Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$13.50, the stock trades at a trailing P/E ratio of 27.9x. Average trailing P/E is 13x in the Basic Materials industry in Taiwan. Total loss to shareholders of 27% over the past three years. New Risk • Mar 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% 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 Earnings have declined by 35% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (92% cash payout ratio). Large one-off items impacting financial results. Announcement • Feb 26
Chia Hsin Cement Corporation, Annual General Meeting, May 16, 2025 Chia Hsin Cement Corporation, Annual General Meeting, May 16, 2025, at 09:00 Taipei Standard Time. Location: 7 floor no,66, wu kung rd., sinjhuang district, new taipei city Taiwan Announcement • Feb 19
Chia Hsin Cement Corporation to Report Fiscal Year 2024 Results on Feb 25, 2025 Chia Hsin Cement Corporation announced that they will report fiscal year 2024 results on Feb 25, 2025 Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.74 (vs NT$0.18 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.74 (up from NT$0.18 in 3Q 2023). Revenue: NT$775.7m (up 5.0% from 3Q 2023). Net income: NT$484.6m (up 313% from 3Q 2023). Profit margin: 63% (up from 16% in 3Q 2023). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.11 (vs NT$0.003 loss in 2Q 2023) Second quarter 2024 results: EPS: NT$0.11 (up from NT$0.003 loss in 2Q 2023). Revenue: NT$738.3m (up 1.8% from 2Q 2023). Net income: NT$72.0m (up NT$74.0m from 2Q 2023). Profit margin: 9.8% (up from net loss in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Announcement • Aug 02
Chia Hsin Cement Corporation to Report Q2, 2024 Results on Aug 08, 2024 Chia Hsin Cement Corporation announced that they will report Q2, 2024 results on Aug 08, 2024 Upcoming Dividend • Jul 12
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 18 July 2024. Payment date: 16 August 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.7%. Lower than top quartile of Taiwanese dividend payers (4.2%). Lower than average of industry peers (3.8%). Declared Dividend • Jun 27
Dividend of NT$0.50 announced Shareholders will receive a dividend of NT$0.50. Ex-date: 18th July 2024 Payment date: 16th August 2024 Dividend yield will be 2.7%, which is lower than the industry average of 3.4%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 14x earnings) and 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 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 1,535% to bring the payout ratio under control. However, EPS has declined by 44% over the last 5 years so the company would need to reverse this trend. New Risk • Jun 04
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 114% The company is paying a dividend despite having no free cash flows. Dividend yield: 2.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 114% Paying a dividend despite having no free cash flows. Earnings have declined by 22% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Announcement • May 25
Chia Hsin Cement Corporation Approves Cash Dividend for 2023 Chia Hsin Cement Corporation approved cash dividend of TWD 0.5 per share for 2023. Reported Earnings • May 19
First quarter 2024 earnings released: NT$0.06 loss per share (vs NT$0.03 profit in 1Q 2023) First quarter 2024 results: NT$0.06 loss per share (down from NT$0.03 profit in 1Q 2023). Revenue: NT$699.1m (up 7.3% from 1Q 2023). Net loss: NT$38.7m (down 294% from profit in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. New Risk • Mar 12
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 34% 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 Earnings have declined by 13% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Reported Earnings • Mar 05
Full year 2023 earnings released: EPS: NT$0.12 (vs NT$0.27 loss in FY 2022) Full year 2023 results: EPS: NT$0.12 (up from NT$0.27 loss in FY 2022). Revenue: NT$2.91b (up 29% from FY 2022). Net income: NT$81.1m (up NT$261.8m from FY 2022). Profit margin: 2.8% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Announcement • Feb 28
Chia Hsin Cement Corporation, Annual General Meeting, May 24, 2024 Chia Hsin Cement Corporation, Annual General Meeting, May 24, 2024. Location: 6F., No.66, Wugong Rd., Xinzhuang Dist. New Taipei City 242 Gala De Chine Xinzhuang,Jindeng Room Taipei Taiwan Agenda: To report 2023 employees and directors compensation; to report 2023 business and financial statements; to report audit committee's review of 2023 business and financial statements; to report 2023 directors' remuneration; to approve 2023 business and financial statements; to approve 2023 earnings distribution; and to consider other issues. Announcement • Dec 16
Chia Hsin Cement Corporation Appoints Li-Hsing Wang as Chief Information Security Officer Chia Hsin Cement Corporation announced the appointment of Li-Hsing Wang as Chief Information Security officer, effective from December 15, 2023. Upcoming Dividend • Jul 20
Upcoming dividend of NT$0.30 per share at 1.4% yield Eligible shareholders must have bought the stock before 27 July 2023. Payment date: 31 August 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (3.2%). Reported Earnings • Jul 06
First quarter 2023 earnings released: EPS: NT$0.031 (vs NT$0.13 loss in 1Q 2022) First quarter 2023 results: EPS: NT$0.031 (up from NT$0.13 loss in 1Q 2022). Revenue: NT$651.4m (up 27% from 1Q 2022). Net income: NT$20.0m (up NT$100.6m from 1Q 2022). Profit margin: 3.1% (up from net loss in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • May 31
Chia Hsin Cement Corporation Approves the 2022 Profit Distribution Chia Hsin Cement Corporation approved the 2022 profit distribution proposal to pay a cash dividend of TWD 0.3, at the AGM held on May 30, 2023. Reported Earnings • Mar 15
Full year 2022 earnings released: NT$0.28 loss per share (vs NT$1.02 profit in FY 2021) Full year 2022 results: NT$0.28 loss per share (down from NT$1.02 profit in FY 2021). Revenue: NT$2.25b (up 1.5% from FY 2021). Net loss: NT$180.8m (down 127% from profit in FY 2021). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Board Change • Nov 16
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 not an independent director. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Robert K. Su was the last independent director to join the board, commencing their role in 2016. 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 10
Third quarter 2022 earnings released: EPS: NT$0.41 (vs NT$1.37 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.41 (down from NT$1.37 in 3Q 2021). Revenue: NT$566.5m (up 1.1% from 3Q 2021). Net income: NT$265.5m (down 70% from 3Q 2021). Profit margin: 47% (down from 158% in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 6% per year. Reported Earnings • Aug 17
Second quarter 2022 earnings released: NT$0.62 loss per share (vs NT$0.25 loss in 2Q 2021) Second quarter 2022 results: NT$0.62 loss per share (down from NT$0.25 loss in 2Q 2021). Revenue: NT$514.8m (down 6.5% from 2Q 2021). Net loss: NT$400.2m (loss widened 146% from 2Q 2021). 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 2% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 28
Upcoming dividend of NT$0.65 per share Eligible shareholders must have bought the stock before 04 August 2022. Payment date: 02 September 2022. Payout ratio is a comfortable 60% but the company is not cash flow positive. Trailing yield: 3.6%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (4.6%). Announcement • Jun 15
Chia Hsin Cement Corporation Approves Cash Dividend for the Year 2021 Chia Hsin Cement Corporation held its shareholders meeting on June 14, 2022, To approve the 2021 profit distribution proposal to issue a cash dividend of TWD 0.65 per share. Reported Earnings • May 08
First quarter 2022 earnings released: NT$0.12 loss per share (vs NT$0.20 loss in 1Q 2021) First quarter 2022 results: NT$0.12 loss per share (up from NT$0.20 loss in 1Q 2021). Revenue: NT$512.6m (down 5.9% from 1Q 2021). Net loss: NT$80.6m (loss narrowed 37% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
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 not an independent director. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Robert K. Su was the last independent director to join the board, commencing their role in 2016. 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 2021 earnings released: EPS NT$1.37 (vs NT$0.93 in 3Q 2020) Third quarter 2021 results: Revenue: NT$560.3m (up 14% from 3Q 2020). Net income: NT$886.6m (up 49% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 01
Upcoming dividend of NT$1.40 per share Eligible shareholders must have bought the stock before 08 September 2021. Payment date: 07 October 2021. Trailing yield: 6.2%. Within top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (7.1%). Reported Earnings • Aug 18
Second quarter 2021 earnings released: NT$0.25 loss per share (vs NT$0.22 profit in 2Q 2020) The company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: NT$550.4m (up 11% from 2Q 2020). Net loss: NT$162.5m (down 215% from profit in 2Q 2020). 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 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 14
First quarter 2021 earnings released: NT$0.20 loss per share (vs NT$0.33 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: NT$544.5m (up 9.9% from 1Q 2020). Net loss: NT$127.1m (loss narrowed 40% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 15% per year. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS NT$2.74 (vs NT$1.10 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$2.06b (up 9.3% from FY 2019). Net income: NT$1.76b (up 149% from FY 2019). Profit margin: 86% (up from 38% in FY 2019). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Announcement • Mar 16
Chia Hsin Cement Corporation (TSEC:1103) entered into a contract to acquire The Partners Fund for $3 million. Chia Hsin Cement Corporation (TSEC:1103) entered into a contract to acquire The Partners Fund for $3 million on March 15, 2021. Is New 90 Day High Low • Jan 04
New 90-day high: NT$19.20 The company is up 21% from its price of NT$15.90 on 06 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 5.0% over the same period. Is New 90 Day High Low • Dec 16
New 90-day high: NT$18.45 The company is up 11% from its price of NT$16.55 on 17 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 Basic Materials industry, which is flat over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.93 Third quarter 2020 results: Revenue: NT$489.2m (up 3.5% from 3Q 2019). Net income: NT$595.5m (down 21% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Announcement • Nov 12
Chia Hsin Cement Corporation (TSEC:1103) agreed to acquire 23.1% stake in L'Hotel de Chine Corporation from CTBC Securities Investment Trust Co., Ltd. for TWD 1.16 billion. Chia Hsin Cement Corporation (TSEC:1103) agreed to acquire 23.1% stake in L'Hotel de Chine Corporation from CTBC Securities Investment Trust Co., Ltd. for TWD 1.16 billion on November 11, 2020. Under the terms, Chia Hsin Cement will pay TWD 17.02 for each shares of L'Hotel. Transaction will be financed by operational capital. As of November 11, 2020, Board of Directors of Chia Hsin Cement approved the transaction. JIN,CHANG-MIN of KenwillCPA United CPAS Firm acted as accountant for Chia Hsin Cement. Is New 90 Day High Low • Oct 30
New 90-day low: NT$15.60 The company is down 6.0% from its price of NT$16.60 on 31 July 2020. The Taiwanese market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is flat over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: NT$15.65 The company is down 11% from its price of NT$17.60 on 24 June 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 1.0% over the same period.