New Risk • Aug 15
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 12% 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. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Aug 13
Now 23% undervalued Over the last 90 days, the stock has risen 70% to NT$16.70. The fair value is estimated to be NT$21.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 13%. Valuation Update With 7 Day Price Move • Aug 12
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$17.40, the stock trades at a trailing P/E ratio of 14.7x. Average trailing P/E is 25x in the Chemicals industry in Taiwan. Total returns to shareholders of 118% over the past three years. Reported Earnings • Aug 06
Second quarter 2026 earnings released: EPS: NT$0.66 (vs NT$0.12 in 2Q 2025) Second quarter 2026 results: EPS: NT$0.66 (up from NT$0.12 in 2Q 2025). Revenue: NT$9.86b (up 76% from 2Q 2025). Net income: NT$647.0m (up 461% from 2Q 2025). Profit margin: 6.6% (up from 2.1% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 30
Dividend reduced to NT$0.18 Dividend of NT$0.18 is 12% lower than last year. Ex-date: 20th August 2026 Payment date: 18th September 2026 Dividend yield will be 1.4%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is well covered by both earnings (44% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 51% to shift the payout ratio to a potentially unsustainable range, which is more than the 19% EPS decline seen over the last 5 years. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$13.25, the stock trades at a trailing P/E ratio of 20.7x. Average trailing P/E is 26x in the Chemicals industry in Taiwan. Total returns to shareholders of 65% over the past three years. Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to NT$22.75, the stock trades at a trailing P/E ratio of 35.5x. Average trailing P/E is 33x in the Chemicals industry in Taiwan. Total returns to shareholders of 179% over the past three years. New Risk • Jun 23
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 9.4% 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: Major Risk Earnings have declined by 13% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (9.4% average weekly change). Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$11.00, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 31x in the Chemicals industry in Taiwan. Total returns to shareholders of 27% over the past three years. Reported Earnings • May 07
First quarter 2026 earnings released: EPS: NT$0.23 (vs NT$0.083 in 1Q 2025) First quarter 2026 results: EPS: NT$0.23 (up from NT$0.083 in 1Q 2025). Revenue: NT$7.14b (up 33% from 1Q 2025). Net income: NT$223.1m (up 167% from 1Q 2025). Profit margin: 3.1% (up from 1.6% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has remained flat. Reported Earnings • Mar 12
Full year 2025 earnings released: EPS: NT$0.50 (vs NT$0.41 in FY 2024) Full year 2025 results: EPS: NT$0.50 (up from NT$0.41 in FY 2024). Revenue: NT$24.0b (up 17% from FY 2024). Net income: NT$490.1m (up 18% from FY 2024). Profit margin: 2.0% (in line with FY 2024). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Mar 12
Ho Tung Chemical Corp., Annual General Meeting, May 27, 2026 Ho Tung Chemical Corp., Annual General Meeting, May 27, 2026, at 09:00 Taipei Standard Time. Location: 1 floor no,6, sec.1 chung hsing rd., wugu district, new taipei city Taiwan Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: NT$0.17 (vs NT$0.086 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.17 (up from NT$0.086 in 3Q 2024). Revenue: NT$5.97b (up 17% from 3Q 2024). Net income: NT$166.0m (up 91% from 3Q 2024). Profit margin: 2.8% (up from 1.7% in 3Q 2024). 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 remained flat. Reported Earnings • Aug 08
Second quarter 2025 earnings released: EPS: NT$0.12 (vs NT$0.019 loss in 2Q 2024) Second quarter 2025 results: EPS: NT$0.12 (up from NT$0.019 loss in 2Q 2024). Revenue: NT$5.59b (up 15% from 2Q 2024). Net income: NT$115.4m (up NT$134.1m from 2Q 2024). Profit margin: 2.1% (up from net loss in 2Q 2024). The move to profitability 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 fallen by 6% per year. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: NT$0.08 (vs NT$0.29 in 1Q 2024) First quarter 2025 results: EPS: NT$0.08 (down from NT$0.29 in 1Q 2024). Revenue: NT$5.35b (up 16% from 1Q 2024). Net income: NT$83.6m (down 71% from 1Q 2024). Profit margin: 1.6% (down from 6.2% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 5% per year. Announcement • May 07
Ho Tung Chemical Corp. to Report Q1, 2025 Results on May 14, 2025 Ho Tung Chemical Corp. announced that they will report Q1, 2025 results on May 14, 2025 Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$8.56, the stock trades at a trailing P/E ratio of 20.7x. Average trailing P/E is 19x in the Chemicals industry in Taiwan. Total loss to shareholders of 11% over the past three years. Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$0.41 (vs NT$0.59 in FY 2023) Full year 2024 results: EPS: NT$0.41 (down from NT$0.59 in FY 2023). Revenue: NT$20.6b (up 1.6% from FY 2023). Net income: NT$415.5m (down 31% from FY 2023). Profit margin: 2.0% (down from 3.0% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 7% per year. Announcement • Mar 14
Ho Tung Chemical Corp., Annual General Meeting, May 28, 2025 Ho Tung Chemical Corp., Annual General Meeting, May 28, 2025, at 09:00 Taipei Standard Time. Location: 1 floor no,6, sec.1 chung hsing rd., wugu district, new taipei city Taiwan Announcement • Mar 05
Ho Tung Chemical Corp. to Report Fiscal Year 2024 Results on Mar 12, 2025 Ho Tung Chemical Corp. announced that they will report fiscal year 2024 results on Mar 12, 2025 Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: NT$0.08 (vs NT$0.18 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.08 (down from NT$0.18 in 3Q 2023). Revenue: NT$5.10b (down 1.6% from 3Q 2023). Net income: NT$87.0m (down 53% from 3Q 2023). Profit margin: 1.7% (down from 3.6% in 3Q 2023). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Nov 06
Ho Tung Chemical Corp. to Report Q3, 2024 Results on Nov 13, 2024 Ho Tung Chemical Corp. announced that they will report Q3, 2024 results on Nov 13, 2024 Reported Earnings • Aug 10
Second quarter 2024 earnings released: NT$0.02 loss per share (vs NT$0.17 profit in 2Q 2023) Second quarter 2024 results: NT$0.02 loss per share (down from NT$0.17 profit in 2Q 2023). Revenue: NT$4.87b (up 3.2% from 2Q 2023). Net loss: NT$18.7m (down 111% from profit in 2Q 2023). 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 7% per year, which means it is significantly lagging earnings. Declared Dividend • Aug 02
Dividend increased to NT$0.30 Dividend of NT$0.30 is 200% higher than last year. Ex-date: 15th August 2024 Payment date: 13th September 2024 Dividend yield will be 2.9%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is well covered by both earnings (41% earnings payout ratio) and cash flows (19% cash payout ratio). The dividend has remained flat since 6 years ago. However, payments have been volatile during that time. Earnings per share has grown by 21% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Aug 01
Ho Tung Chemical Corp. Announces Cash Dividends, Payable on September 13, 2024 Ho Tung Chemical Corp. announced Cash dividends of TWD 305,047,442 (TWD 0.30 per share). Ex-rights (ex-dividend) trading date: August 15, 2024. Ex-rights (ex-dividend) record date: August 21, 2024. Payment date of common stock cash dividend distribution: September 13, 2024. Announcement • Jul 31
Ho Tung Chemical Corp. to Report Q2, 2024 Results on Aug 07, 2024 Ho Tung Chemical Corp. announced that they will report Q2, 2024 results on Aug 07, 2024 Reported Earnings • May 12
First quarter 2024 earnings released: EPS: NT$0.29 (vs NT$0.14 in 1Q 2023) First quarter 2024 results: EPS: NT$0.29 (up from NT$0.14 in 1Q 2023). Revenue: NT$4.62b (down 11% from 1Q 2023). Net income: NT$288.6m (up 103% from 1Q 2023). Profit margin: 6.2% (up from 2.7% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 23% 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 • May 02
Ho Tung Chemical Corp. to Report Q1, 2024 Results on May 08, 2024 Ho Tung Chemical Corp. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 08, 2024 Buy Or Sell Opportunity • Apr 17
Now 21% overvalued Over the last 90 days, the stock has fallen 1.9% to NT$8.78. The fair value is estimated to be NT$7.26, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.9% over the last 3 years. Earnings per share has declined by 46%. Buy Or Sell Opportunity • Mar 27
Now 21% overvalued Over the last 90 days, the stock has fallen 3.6% to NT$8.81. The fair value is estimated to be NT$7.26, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.9% over the last 3 years. Earnings per share has declined by 46%. Announcement • Mar 19
Ho Tung Chemical Corp., Annual General Meeting, Jun 19, 2024 Ho Tung Chemical Corp., Annual General Meeting, Jun 19, 2024. Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: NT$0.59 (vs NT$0.37 in FY 2022) Full year 2023 results: EPS: NT$0.59 (up from NT$0.37 in FY 2022). Revenue: NT$20.3b (down 10% from FY 2022). Net income: NT$599.1m (up 62% from FY 2022). Profit margin: 3.0% (up from 1.6% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 46% 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. New Risk • Mar 19
New major risk - Revenue and earnings growth Earnings have declined by 0.7% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: NT$0.19 (vs NT$0.12 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.19 (up from NT$0.12 in 3Q 2022). Revenue: NT$5.18b (down 20% from 3Q 2022). Net income: NT$186.5m (up 62% from 3Q 2022). Profit margin: 3.6% (up from 1.8% in 3Q 2022). The increase in margin was driven by lower expenses. 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 5% per year, which means it has not declined as severely as earnings. Announcement • Oct 20
Ho Tung Chemical Corp. Announces Chief Information Security Officer Changes Ho Tung Chemical Corp. announced the appointment of Pai Chieh Chu, Manager as Chief Information Security Officer in place of Kimi Su, Manager, effective October 18, 2023. Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: NT$0.17 (vs NT$0.067 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.17 (up from NT$0.067 in 2Q 2022). Revenue: NT$4.71b (down 18% from 2Q 2022). Net income: NT$170.6m (up 154% from 2Q 2022). Profit margin: 3.6% (up from 1.2% in 2Q 2022). The increase in margin was 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 66 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Aug 08
Upcoming dividend of NT$0.10 per share at 1.2% yield Eligible shareholders must have bought the stock before 15 August 2023. Payment date: 15 September 2023. Payout ratio is a comfortable 30% but the company is paying out more than the cash it is generating. Trailing yield: 1.2%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (3.7%). Announcement • Jul 27
Ho Tung Chemical Corp. Announces Cash Dividend, Payable on September 15, 2023 Ho Tung Chemical Corp. announced cash dividend of TWD 101,682,481 (TWD 0.10 per share). Ex-rights (ex-dividend) trading date is August 15, 2023; Ex-rights (ex-dividend) record date is August 21, 2023; Payment date of cash dividend distribution is September 15, 2023. Announcement • Jun 22
Ho Tung Chemical Corp. Announces Board Changes Ho Tung Chemical Corp. announced the following board changes. Title and name of the previous position holder: Director: Long Chain Lee, representative of Hung I Investments Co. Ltd.; Independent Director: Yung Yuan Chang, Independent Director: Wen Syan Su, Independent Director: Chia Pin Chang. Title and name of the new position holder: Director: Shun Keng Chen, representative of Hung I Investments Co., Ltd; Independent Director: Tzu Ming Wang; Independent Director: Ko Shun Wang; Independent Director: Hui Chin Tu. Effective date of the new appointment is June 21, 2023. Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: NT$0.37 (vs NT$0.72 in FY 2021) Full year 2022 results: EPS: NT$0.37 (down from NT$0.72 in FY 2021). Revenue: NT$22.6b (up 12% from FY 2021). Net income: NT$370.2m (down 49% from FY 2021). Profit margin: 1.6% (down from 3.6% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Announcement • Dec 23
Ho Tung Chemical Corp. Appoints Kimi Su as Chief Information Security Officer Ho Tung Chemical Corp. announced the appointment of Kimi Su as chief information security officer of the company, with effect from December 22, 2022. 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. 4 experienced directors. 4 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Wen-Hsien Su was the last independent director to join the board, commencing their role in 2017. 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$0.11 (vs NT$0.23 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.11 (down from NT$0.23 in 3Q 2021). Revenue: NT$6.45b (up 25% from 3Q 2021). Net income: NT$115.3m (down 50% from 3Q 2021). Profit margin: 1.8% (down from 4.5% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • Aug 13
Second quarter 2022 earnings released: EPS: NT$0.07 (vs NT$0.21 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.07 (down from NT$0.21 in 2Q 2021). Revenue: NT$5.75b (up 15% from 2Q 2021). Net income: NT$67.1m (down 68% from 2Q 2021). Profit margin: 1.2% (down from 4.2% in 2Q 2021). The decrease in margin was driven by higher expenses. 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 10% per year. Upcoming Dividend • Jul 28
Upcoming dividend of NT$0.42 per share Eligible shareholders must have bought the stock before 04 August 2022. Payment date: 08 September 2022. Payout ratio is a comfortable 69% and the cash payout ratio is 92%. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (8.0%). Announcement • Jun 25
Ho Tung Chemical Corp. Approves 2021 Earnings Distribution Ho Tung Chemical Corp. approved 2021 earnings distribution of Cash dividends TWD 0.42 per share, at its shareholders meeting held on June 23, 2022. Reported Earnings • May 14
First quarter 2022 earnings released: EPS: NT$0.17 (vs NT$0.29 in 1Q 2021) First quarter 2022 results: EPS: NT$0.17 (down from NT$0.29 in 1Q 2021). Revenue: NT$4.99b (up 2.9% from 1Q 2021). Net income: NT$171.8m (down 40% from 1Q 2021). Profit margin: 3.4% (down from 5.9% in 1Q 2021). The decrease in margin was driven by higher 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 12% 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. 3 experienced directors. 5 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Wen-Hsien Su was the last independent director to join the board, commencing their role in 2017. 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 • Mar 17
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$0.72 (down from NT$1.68 in FY 2020). Revenue: NT$20.2b (down 22% from FY 2020). Net income: NT$722.7m (down 57% from FY 2020). Profit margin: 3.6% (down from 6.5% in FY 2020). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. 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 15% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS NT$0.23 (vs NT$0.14 loss in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: NT$5.16b (down 6.6% from 3Q 2020). Net income: NT$232.6m (up NT$368.5m from 3Q 2020). Profit margin: 4.5% (up from net loss in 3Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 54% 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 • Aug 23
Upcoming dividend of NT$0.70 per share Eligible shareholders must have bought the stock before 30 August 2021. Payment date: 24 September 2021. Trailing yield: 6.3%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.0%). Reported Earnings • Aug 12
Second quarter 2021 earnings released: EPS NT$0.21 (vs NT$1.94 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$5.00b (down 46% from 2Q 2020). Net income: NT$208.3m (down 89% from 2Q 2020). Profit margin: 4.2% (down from 21% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improved over the past week After last week's 20% share price gain to NT$13.50, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 16x in the Chemicals industry in Taiwan. Total returns to shareholders of 64% over the past three years. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.29 (vs NT$0.078 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$4.85b (down 12% from 1Q 2020). Net income: NT$287.2m (up 268% from 1Q 2020). Profit margin: 5.9% (up from 1.4% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS NT$1.68 (vs NT$0.018 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$25.8b (down 5.9% from FY 2019). Net income: NT$1.69b (up NT$1.67b from FY 2019). Profit margin: 6.5% (up from 0.1% 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 76% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Mar 19
Ho Tung Chemical Corp., Annual General Meeting, Jun 17, 2021 Ho Tung Chemical Corp., Annual General Meeting, Jun 17, 2021. Location: 8Fl, No.6, Sec. 1, Jung-Shing Rd.,Wugu Dist New Taipei Taiwan Agenda: To consider 2020 business report; to consider audit committee's review report on the 2020 financial statements; to report on distribution of employees' compensation, directors' and supervisors' remuneration of 2020; to consider 2020 business report and financial statements; to consider 2020 deficit compensation; and to consider cause for convening the meeting. Is New 90 Day High Low • Jan 20
New 90-day low: NT$9.19 The company is down 14% from its price of NT$10.70 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 Chemicals industry, which is up 15% over the same period. Is New 90 Day High Low • Dec 11
New 90-day low: NT$9.83 The company is down 7.0% from its price of NT$10.60 on 11 September 2020. The Taiwanese market is up 12% 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 14
Third quarter 2020 earnings released: NT$0.14 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$5.53b (down 26% from 3Q 2019). Net loss: NT$135.9m (loss widened 110% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. 
