Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: NT$5.50 (vs NT$5.28 in FY 2024) Full year 2025 results: EPS: NT$5.50 (up from NT$5.28 in FY 2024). Revenue: NT$9.79b (up 2.7% from FY 2024). Net income: NT$891.6m (up 4.2% from FY 2024). Profit margin: 9.1% (up from 9.0% in FY 2024). The increase in margin was driven by higher revenue. 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 1% per year. Announcement • Mar 10
Yung Chi Paint & Varnish Mfg.Co.,Ltd, Annual General Meeting, May 29, 2026 Yung Chi Paint & Varnish Mfg.Co.,Ltd, Annual General Meeting, May 29, 2026, at 10:00 Taipei Standard Time. Location: no,26, yen hai 3rd rd., siaogang district, kaohsiung city Taiwan Reported Earnings • Nov 11
Third quarter 2025 earnings released: EPS: NT$1.52 (vs NT$1.16 in 3Q 2024) Third quarter 2025 results: EPS: NT$1.52 (up from NT$1.16 in 3Q 2024). Revenue: NT$2.26b (down 3.9% from 3Q 2024). Net income: NT$246.1m (up 31% from 3Q 2024). Profit margin: 11% (up from 8.0% 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 5% per year whereas the company’s share price has increased by 2% per year. New Risk • Nov 11
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. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 08
Second quarter 2025 earnings released: EPS: NT$1.16 (vs NT$1.18 in 2Q 2024) Second quarter 2025 results: EPS: NT$1.16 (down from NT$1.18 in 2Q 2024). Revenue: NT$2.47b (up 11% from 2Q 2024). Net income: NT$187.3m (down 2.3% from 2Q 2024). Profit margin: 7.6% (down from 8.6% 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 3% per year whereas the company’s share price has increased by 1% per year. Upcoming Dividend • Jul 09
Upcoming dividend of NT$3.60 per share Eligible shareholders must have bought the stock before 16 July 2025. Payment date: 18 August 2025. Payout ratio is a comfortable 67% but the company is paying out more than the cash it is generating. Trailing yield: 4.6%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.2%). Declared Dividend • Jun 13
Dividend increased to NT$3.60 Dividend of NT$3.60 is 2.9% higher than last year. Ex-date: 16th July 2025 Payment date: 18th August 2025 Dividend yield will be 4.6%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (67% earnings payout ratio) but not covered by cash flows (114% cash payout ratio). The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. Earnings per share has grown by 3.9% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 08
First quarter 2025 earnings released: EPS: NT$1.60 (vs NT$1.48 in 1Q 2024) First quarter 2025 results: EPS: NT$1.60 (up from NT$1.48 in 1Q 2024). Revenue: NT$2.54b (up 11% from 1Q 2024). Net income: NT$259.3m (up 8.1% from 1Q 2024). Profit margin: 10% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 2% per year. Announcement • Apr 30
Yung Chi Paint & Varnish Mfg.Co.,Ltd to Report Q1, 2025 Results on May 07, 2025 Yung Chi Paint & Varnish Mfg.Co.,Ltd announced that they will report Q1, 2025 results on May 07, 2025 New Risk • Mar 17
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 128% Dividend yield: 4.6% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Announcement • Mar 13
Yung Chi Paint & Varnish Mfg.Co.,Ltd, Annual General Meeting, May 29, 2025 Yung Chi Paint & Varnish Mfg.Co.,Ltd, Annual General Meeting, May 29, 2025, at 10:00 Taipei Standard Time. Location: no,26, yen hai 3rd rd., siaogang district, kaohsiung city Taiwan Announcement • Mar 04
Yung Chi Paint & Varnish Mfg.Co.,Ltd to Report Fiscal Year 2024 Results on Mar 11, 2025 Yung Chi Paint & Varnish Mfg.Co.,Ltd announced that they will report fiscal year 2024 results on Mar 11, 2025 New Risk • Dec 02
New major risk - Revenue and earnings growth Revenue has declined by 0.5% over the past year. 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 revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue 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 15
Third quarter 2024 earnings released: EPS: NT$1.16 (vs NT$1.35 in 3Q 2023) Third quarter 2024 results: EPS: NT$1.16 (down from NT$1.35 in 3Q 2023). Revenue: NT$2.35b (up 7.5% from 3Q 2023). Net income: NT$187.8m (down 14% from 3Q 2023). Profit margin: 8.0% (down from 10.0% in 3Q 2023). 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 increased by 2% per year. Announcement • Nov 05
Yung Chi Paint & Varnish Mfg.Co.,Ltd to Report Q3, 2024 Results on Nov 12, 2024 Yung Chi Paint & Varnish Mfg.Co.,Ltd announced that they will report Q3, 2024 results on Nov 12, 2024 New Risk • Sep 30
New major risk - Revenue and earnings growth Revenue has declined by 0.5% over the past year. 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 revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue 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. Buy Or Sell Opportunity • Aug 23
Now 20% overvalued Over the last 90 days, the stock has fallen 2.2% to NT$80.00. The fair value is estimated to be NT$66.58, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has declined by 3.6%. Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: NT$1.18 (vs NT$1.17 in 2Q 2023) Second quarter 2024 results: EPS: NT$1.18 (up from NT$1.17 in 2Q 2023). Revenue: NT$2.23b (up 2.5% from 2Q 2023). Net income: NT$191.7m (up 1.1% from 2Q 2023). Profit margin: 8.6% (down from 8.7% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has increased by 1% per year. Announcement • Jul 31
Yung Chi Paint & Varnish Mfg.Co.,Ltd to Report Q2, 2024 Results on Aug 07, 2024 Yung Chi Paint & Varnish Mfg.Co.,Ltd announced that they will report Q2, 2024 results on Aug 07, 2024 Upcoming Dividend • Jul 10
Upcoming dividend of NT$3.50 per share Eligible shareholders must have bought the stock before 17 July 2024. Payment date: 19 August 2024. Trailing yield: 4.3%. Within top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.2%). Reported Earnings • May 08
First quarter 2024 earnings released: EPS: NT$1.48 (vs NT$1.30 in 1Q 2023) First quarter 2024 results: EPS: NT$1.48 (up from NT$1.30 in 1Q 2023). Revenue: NT$2.29b (down 7.2% from 1Q 2023). Net income: NT$239.8m (up 14% from 1Q 2023). Profit margin: 11% (up from 8.6% in 1Q 2023). The increase in margin was driven by lower expenses. 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 3% per year, which means it is well ahead of earnings. Announcement • May 01
Yung Chi Paint & Varnish Mfg.Co.,Ltd to Report Q1, 2024 Results on May 07, 2024 Yung Chi Paint & Varnish Mfg.Co.,Ltd announced that they will report Q1, 2024 results on May 07, 2024 Reported Earnings • Mar 12
Full year 2023 earnings released: EPS: NT$5.13 (vs NT$5.03 in FY 2022) Full year 2023 results: EPS: NT$5.13 (up from NT$5.03 in FY 2022). Revenue: NT$9.35b (down 3.9% from FY 2022). Net income: NT$831.2m (up 2.1% from FY 2022). Profit margin: 8.9% (up from 8.4% 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 4% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: NT$1.17 (vs NT$1.27 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.17 (down from NT$1.27 in 2Q 2022). Revenue: NT$2.17b (down 5.0% from 2Q 2022). Net income: NT$189.7m (down 7.6% from 2Q 2022). Profit margin: 8.7% (down from 9.0% 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 2% per year whereas the company’s share price has increased by 2% per year. Upcoming Dividend • Aug 08
Upcoming dividend of NT$3.50 per share at 4.6% yield Eligible shareholders must have bought the stock before 15 August 2023. Payment date: 15 September 2023. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (3.7%). Reported Earnings • Mar 17
Full year 2022 earnings released: EPS: NT$5.03 (vs NT$5.45 in FY 2021) Full year 2022 results: EPS: NT$5.03 (down from NT$5.45 in FY 2021). Revenue: NT$9.74b (up 9.8% from FY 2021). Net income: NT$814.5m (down 7.7% from FY 2021). Profit margin: 8.4% (down from 10.0% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 5% per year. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. No independent directors (7 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Upcoming Dividend • Aug 17
Upcoming dividend of NT$3.50 per share Eligible shareholders must have bought the stock before 24 August 2022. Payment date: 23 September 2022. Payout ratio is a comfortable 69% but the company is paying out more than the cash it is generating. Trailing yield: 4.8%. Lower than top quartile of Taiwanese dividend payers (6.5%). Lower than average of industry peers (7.7%). Reported Earnings • Aug 13
Second quarter 2022 earnings released: EPS: NT$1.27 (vs NT$1.26 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.27 (up from NT$1.26 in 2Q 2021). Revenue: NT$2.29b (up 5.2% from 2Q 2021). Net income: NT$205.2m (flat on 2Q 2021). Profit margin: 9.0% (down from 9.4% 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 but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 13
First quarter 2022 earnings released: EPS: NT$1.35 (vs NT$1.76 in 1Q 2021) First quarter 2022 results: EPS: NT$1.35 (down from NT$1.76 in 1Q 2021). Revenue: NT$2.46b (up 18% from 1Q 2021). Net income: NT$218.1m (down 24% from 1Q 2021). Profit margin: 8.9% (down from 14% 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 13% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. No independent directors (7 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack 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$5.45 (up from NT$5.13 in FY 2020). Revenue: NT$8.87b (up 11% from FY 2020). Net income: NT$882.2m (up 6.2% from FY 2020). Profit margin: 10.0% (in line with FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS NT$1.36 (vs NT$1.38 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$2.18b (up 9.7% from 3Q 2020). Net income: NT$219.7m (down 2.0% from 3Q 2020). Profit margin: 10% (down from 11% in 3Q 2020). 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 but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • Aug 18
Upcoming dividend of NT$3.50 per share Eligible shareholders must have bought the stock before 25 August 2021. Payment date: 23 September 2021. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.9%). Reported Earnings • Aug 11
Second quarter 2021 earnings released: EPS NT$1.26 (vs NT$1.21 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: NT$2.17b (up 17% from 2Q 2020). Net income: NT$203.8m (up 4.1% from 2Q 2020). Profit margin: 9.4% (down from 11% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • May 14
First quarter 2021 earnings released: EPS NT$1.76 (vs NT$1.13 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$2.09b (up 9.3% from 1Q 2020). Net income: NT$285.7m (up 56% from 1Q 2020). Profit margin: 14% (up from 9.6% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS NT$5.13 (vs NT$4.22 in FY 2019) The company reported a solid full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: NT$7.99b (flat on FY 2019). Net income: NT$830.5m (up 22% from FY 2019). Profit margin: 10% (up from 8.6% in FY 2019). Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 4% per year. Is New 90 Day High Low • Mar 09
New 90-day high: NT$72.40 The company is up 1.0% from its price of NT$71.70 on 09 December 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 10.0% over the same period. Is New 90 Day High Low • Dec 30
New 90-day high: NT$72.20 The company is up 5.0% from its price of NT$69.00 on 30 September 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 18% over the same period. Is New 90 Day High Low • Nov 25
New 90-day high: NT$71.70 The company is up 4.0% from its price of NT$69.00 on 27 August 2020. The Taiwanese market is up 7.0% 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. Reported Earnings • Nov 06
Third quarter 2020 earnings released: EPS NT$1.38 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.99b (up 2.5% from 3Q 2019). Net income: NT$224.3m (up 38% from 3Q 2019). Profit margin: 11% (up from 8.4% in 3Q 2019). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year and the company’s share price has also fallen by 4% per year.