Reported Earnings • May 19
First quarter 2026 earnings released: EPS: NT$0.16 (vs NT$0.37 in 1Q 2025) First quarter 2026 results: EPS: NT$0.16 (down from NT$0.37 in 1Q 2025). Revenue: NT$1.94b (down 23% from 1Q 2025). Net income: NT$30.2m (down 58% from 1Q 2025). Profit margin: 1.6% (down from 2.8% in 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 14
Full year 2025 earnings released: NT$0.56 loss per share (vs NT$0.19 profit in FY 2024) Full year 2025 results: NT$0.56 loss per share (down from NT$0.19 profit in FY 2024). Revenue: NT$8.92b (down 8.2% from FY 2024). Net loss: NT$109.0m (down 389% from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Announcement • Mar 11
Hai Kwang Enterprise Corporation, Annual General Meeting, Jun 25, 2026 Hai Kwang Enterprise Corporation, Annual General Meeting, Jun 25, 2026, at 10:00 Taipei Standard Time. Location: 3 floor no,12, yen hai 2nd rd., siaogang district, kaohsiung city Taiwan Reported Earnings • Nov 18
Third quarter 2025 earnings released: NT$0.35 loss per share (vs NT$0.084 loss in 3Q 2024) Third quarter 2025 results: NT$0.35 loss per share (further deteriorated from NT$0.084 loss in 3Q 2024). Revenue: NT$1.82b (down 27% from 3Q 2024). Net loss: NT$68.0m (loss widened 318% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 15
Second quarter 2025 earnings released: NT$0.14 loss per share (vs NT$0.043 profit in 2Q 2024) Second quarter 2025 results: NT$0.14 loss per share (down from NT$0.043 profit in 2Q 2024). Revenue: NT$2.48b (up 7.7% from 2Q 2024). Net loss: NT$27.4m (down 433% from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: NT$0.37 (vs NT$0.24 in 1Q 2024) First quarter 2025 results: EPS: NT$0.37 (up from NT$0.24 in 1Q 2024). Revenue: NT$2.52b (up 11% from 1Q 2024). Net income: NT$71.2m (up 54% from 1Q 2024). Profit margin: 2.8% (up from 2.0% in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Announcement • May 01
Hai Kwang Enterprise Corporation to Report Q1, 2025 Results on May 09, 2025 Hai Kwang Enterprise Corporation announced that they will report Q1, 2025 results on May 09, 2025 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$15.40, the stock trades at a trailing P/E ratio of 77.7x. Average trailing P/E is 19x in the Metals and Mining industry in Taiwan. Total loss to shareholders of 51% over the past three years. New Risk • Apr 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.16b (US$95.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.8x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.4% net profit margin). Market cap is less than US$100m (NT$3.16b market cap, or US$95.6m). New Risk • Mar 22
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 1,583% 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 Interest payments are not well covered by earnings (0.8x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.4% net profit margin). Reported Earnings • Mar 15
Full year 2024 earnings released: EPS: NT$0.20 (vs NT$0.28 in FY 2023) Full year 2024 results: EPS: NT$0.20 (down from NT$0.28 in FY 2023). Revenue: NT$9.72b (up 3.8% from FY 2023). Net income: NT$37.7m (down 29% from FY 2023). Profit margin: 0.4% (down from 0.6% in FY 2023). The decrease in margin was driven by higher 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. Announcement • Mar 13
Hai Kwang Enterprise Corporation, Annual General Meeting, Jun 25, 2025 Hai Kwang Enterprise Corporation, Annual General Meeting, Jun 25, 2025, at 10:00 Taipei Standard Time. Location: 3 floor no,12, yen hai 2nd rd., siaogang district, kaohsiung city Taiwan New Risk • Feb 13
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 6.3% 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 Interest payments are not well covered by earnings (1.5x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.1% net profit margin). New Risk • Nov 27
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 111% 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 Interest payments are not well covered by earnings (1.5x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.1% net profit margin). Reported Earnings • Nov 18
Third quarter 2024 earnings released: NT$0.09 loss per share (vs NT$0.004 profit in 3Q 2023) Third quarter 2024 results: NT$0.09 loss per share (down from NT$0.004 profit in 3Q 2023). Revenue: NT$2.48b (up 16% from 3Q 2023). Net loss: NT$16.3m (down NT$17.0m from profit in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Announcement • Nov 02
Hai Kwang Enterprise Corporation to Report Q3, 2024 Results on Nov 08, 2024 Hai Kwang Enterprise Corporation announced that they will report Q3, 2024 results on Nov 08, 2024 New Risk • Aug 28
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 1,154% 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 Interest payments are not well covered by earnings (1.3x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.3% net profit margin). Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.04 (vs NT$0.16 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.04 (down from NT$0.16 in 2Q 2023). Revenue: NT$2.30b (up 1.5% from 2Q 2023). Net income: NT$8.24m (down 72% from 2Q 2023). Profit margin: 0.4% (down from 1.3% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 40 percentage points per year, which is a significant difference in performance. New Risk • Aug 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.22b (US$98.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.4x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.5% net profit margin). Market cap is less than US$100m (NT$3.22b market cap, or US$98.1m). Announcement • Aug 02
Hai Kwang Enterprise Corporation to Report Q2, 2024 Results on Aug 09, 2024 Hai Kwang Enterprise Corporation announced that they will report Q2, 2024 results on Aug 09, 2024 New Risk • Jun 12
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 67% 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 Interest payments are not well covered by earnings (1.4x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.5% net profit margin). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.24 (vs NT$0.27 in 1Q 2023) First quarter 2024 results: EPS: NT$0.24 (down from NT$0.27 in 1Q 2023). Revenue: NT$2.28b (down 3.4% from 1Q 2023). Net income: NT$46.3m (down 8.8% from 1Q 2023). Profit margin: 2.0% (down from 2.2% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$21.70, the stock trades at a trailing P/E ratio of 77.5x. Average trailing P/E is 16x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 8.5% over the past three years. Reported Earnings • Mar 17
Full year 2023 earnings released: EPS: NT$0.28 (vs NT$1.11 in FY 2022) Full year 2023 results: EPS: NT$0.28 (down from NT$1.11 in FY 2022). Revenue: NT$9.37b (down 15% from FY 2022). Net income: NT$53.3m (down 75% from FY 2022). Profit margin: 0.6% (down from 1.9% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Mar 14
Hai Kwang Enterprise Corporation, Annual General Meeting, Jun 25, 2024 Hai Kwang Enterprise Corporation, Annual General Meeting, Jun 25, 2024. Location: 3F Conference Room,(Hai-Kwang Enterprise Co., Ltd.) No. 12, Yen Hai 2nd Road, Xiaogang District Kaohsiung Taiwan Agenda: To consider the Year 2023 Business Report; to consider the Supervisors' review report on the 2023 Financial Statements; to consider the Report on Employees' and Directors' Remuneration for Year 2023; to consider 2023 Financial Statements; to consider )Proposal on the Compensation of 2023 Deficit; and to consider the other business matters. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$21.90, the stock trades at a trailing P/E ratio of 40.1x. Average trailing P/E is 16x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 24% over the past three years. New Risk • Oct 20
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.23b (US$99.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (9.3% operating cash flow to total debt). Minor Risks Profit margins are more than 30% lower than last year (1.5% net profit margin). Market cap is less than US$100m (NT$3.23b market cap, or US$99.7m). Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: NT$0.16 (vs NT$0.28 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.16 (down from NT$0.28 in 2Q 2022). Revenue: NT$2.27b (down 17% from 2Q 2022). Net income: NT$29.7m (down 42% from 2Q 2022). Profit margin: 1.3% (down from 1.9% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 31% per year. New Risk • Jul 17
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 29% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.7% net profit margin). Reported Earnings • Mar 31
Full year 2022 earnings released: EPS: NT$1.16 (vs NT$2.54 in FY 2021) Full year 2022 results: EPS: NT$1.16 (down from NT$2.54 in FY 2021). Revenue: NT$11.0b (up 8.0% from FY 2021). Net income: NT$210.8m (down 54% from FY 2021). Profit margin: 1.9% (down from 4.5% 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 77% per year but the company’s share price has only increased by 62% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.30 (vs NT$0.42 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.30 (down from NT$0.42 in 3Q 2021). Revenue: NT$3.03b (up 22% from 3Q 2021). Net income: NT$54.6m (down 28% from 3Q 2021). Profit margin: 1.8% (down from 3.0% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.30 (vs NT$0.42 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.30 (down from NT$0.42 in 3Q 2021). Revenue: NT$3.03b (up 22% from 3Q 2021). Net income: NT$54.6m (down 28% from 3Q 2021). Profit margin: 1.8% (down from 3.0% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Oct 28
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be NT$22.17, 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. Meanwhile, the company has become profitable. Buying Opportunity • Oct 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be NT$22.25, 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. Meanwhile, the company has become profitable. Buying Opportunity • Sep 28
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 6.0%. The fair value is estimated to be NT$24.31, 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. Meanwhile, the company has become profitable. Upcoming Dividend • Aug 19
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 26 August 2022. Payment date: 16 September 2022. Payout ratio is on the higher end at 79% but the company is not cash flow positive. Trailing yield: 6.1%. Lower than top quartile of Taiwanese dividend payers (6.5%). Lower than average of industry peers (8.7%). Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.28 (vs NT$0.94 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.28 (down from NT$0.94 in 2Q 2021). Revenue: NT$2.73b (up 13% from 2Q 2021). Net income: NT$51.1m (down 70% from 2Q 2021). Profit margin: 1.9% (down from 7.0% 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 109% per year but the company’s share price has only increased by 49% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 14
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: NT$0.45 (up from NT$0.45 in 1Q 2021). Revenue: NT$2.71b (up 18% from 1Q 2021). Net income: NT$82.5m (up 1.2% from 1Q 2021). Profit margin: 3.0% (down from 3.6% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 35%. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 31
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: NT$2.54 (up from NT$0.87 in FY 2020). Revenue: NT$10.2b (up 35% from FY 2020). Net income: NT$459.7m (up 191% from FY 2020). Profit margin: 4.5% (up from 2.1% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 35%. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 63% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.42 (vs NT$0.13 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$2.48b (up 53% from 3Q 2020). Net income: NT$75.7m (up 211% from 3Q 2020). Profit margin: 3.0% (up from 1.5% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 62% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$31.05, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 16x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 216% over the past three years. Upcoming Dividend • Aug 18
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 25 August 2021. Payment date: 15 September 2021. Trailing yield: 1.2%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (1.6%). Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$0.93 (vs NT$0.27 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$2.41b (up 18% from 2Q 2020). Net income: NT$169.5m (up 243% from 2Q 2020). Profit margin: 7.0% (up from 2.4% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has increased by 63% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment improved over the past week After last week's 23% share price gain to NT$52.90, the stock trades at a trailing P/E ratio of 43.9x. Average trailing P/E is 22x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 356% over the past three years. Valuation Update With 7 Day Price Move • May 30
Investor sentiment improved over the past week After last week's 20% share price gain to NT$37.15, the stock trades at a trailing P/E ratio of 30.8x. Average trailing P/E is 21x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 216% over the past three years. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.45 (vs NT$0.12 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$2.29b (up 22% from 1Q 2020). Net income: NT$81.5m (up 288% from 1Q 2020). Profit margin: 3.6% (up from 1.1% 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 16% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improved over the past week After last week's 17% share price gain to NT$38.75, the stock trades at a trailing P/E ratio of 44.4x. Average trailing P/E is 27x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 219% over the past three years. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improved over the past week After last week's 21% share price gain to NT$23.30, the stock trades at a trailing P/E ratio of 26.7x. Average trailing P/E is 28x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 82% over the past three years. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$0.87 (vs NT$1.40 loss 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$7.60b (down 4.4% from FY 2019). Net income: NT$158.0m (up NT$411.6m from FY 2019). Profit margin: 2.1% (up from net loss in FY 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Jan 04
New 90-day high: NT$23.45 The company is up 135% from its price of NT$10.00 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 Metals and Mining industry, which is up 24% over the same period. Is New 90 Day High Low • Dec 14
New 90-day high: NT$15.95 The company is up 50% from its price of NT$10.65 on 15 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 14% over the same period. Is New 90 Day High Low • Nov 19
New 90-day high: NT$11.25 The company is up 37% from its price of NT$8.20 on 21 August 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 13% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.13 The company reported a solid third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2020 results: Revenue: NT$1.62b (flat on 3Q 2019). Net income: NT$24.4m (up NT$108.0m from 3Q 2019). Profit margin: 1.5% (up from net loss in 3Q 2019). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.