Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$266, the stock trades at a trailing P/E ratio of 26.2x. Average forward P/E is 20x in the Chemicals industry in Taiwan. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$303 per share. Reported Earnings • May 13
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: EPS: NT$2.00 (down from NT$2.60 in 1Q 2025). Revenue: NT$1.06b (up 9.6% from 1Q 2025). Net income: NT$201.6m (down 3.0% from 1Q 2025). Profit margin: 19% (down from 22% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 29%. Earnings per share (EPS) also missed analyst estimates by 52%. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. New Risk • Mar 31
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.8% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.3% average weekly change). Profit margins are more than 30% lower than last year (17% net profit margin). Upcoming Dividend • Mar 25
Upcoming dividend of NT$6.00 per share Eligible shareholders must have bought the stock before 01 April 2026. Payment date: 30 April 2026. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 5.3%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.1%). New Risk • Mar 17
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: 17% Last year net profit margin: 27% 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: Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Profit margins are more than 30% lower than last year (17% net profit margin). Reported Earnings • Mar 17
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: NT$10.20 (down from NT$21.68 in FY 2024). Revenue: NT$4.73b (down 27% from FY 2024). Net income: NT$815.9m (down 53% from FY 2024). Profit margin: 17% (down from 27% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 6.7%. Earnings per share (EPS) also missed analyst estimates by 20%. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Declared Dividend • Mar 11
Dividend reduced to NT$6.00 Dividend of NT$6.00 is 50% lower than last year. Ex-date: 1st April 2026 Payment date: 30th April 2026 Dividend yield will be 2.3%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (88% earnings payout ratio) and cash flows (66% cash payout ratio). The dividend has increased by an average of 23% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 26% over the next year, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$262, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 19x in the Chemicals industry in Taiwan. Total loss to shareholders of 9.0% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$248 per share. New Risk • Mar 10
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 7.6% 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. This is currently the only risk that has been identified for the company. Major Estimate Revision • Jan 15
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$5.50b to NT$4.73b. EPS estimate fell from NT$14.78 to NT$10.91 per share. Net income forecast to grow 17% next year vs 35% growth forecast for Chemicals industry in Taiwan. Consensus price target of NT$366 unchanged from last update. Share price fell 6.1% to NT$223 over the past week. Reported Earnings • Nov 17
Third quarter 2025 earnings: EPS misses analyst expectations Third quarter 2025 results: EPS: NT$3.05 (down from NT$5.28 in 3Q 2024). Revenue: NT$1.40b (down 21% from 3Q 2024). Net income: NT$244.0m (down 42% from 3Q 2024). Profit margin: 18% (down from 24% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 23%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Chemicals industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 9% per year. Buy Or Sell Opportunity • Sep 08
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 32% to NT$320. The fair value is estimated to be NT$264, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 5.1%. Revenue is forecast to grow by 5.4% in a year. Earnings are forecast to grow by 7.5% in the next year. Price Target Changed • Aug 17
Price target increased by 15% to NT$367 Up from NT$320, the current price target is an average from 4 analysts. New target price is 34% above last closing price of NT$275. Stock is down 29% over the past year. The company is forecast to post earnings per share of NT$14.78 for next year compared to NT$21.68 last year. Reported Earnings • Aug 13
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: NT$2.75 (down from NT$5.01 in 2Q 2024). Revenue: NT$1.31b (down 17% from 2Q 2024). Net income: NT$220.2m (down 45% from 2Q 2024). Profit margin: 17% (down from 25% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 38%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 3.6% growth forecast for the Chemicals industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 08
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$307, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 20x in the Chemicals industry in Taiwan. Total returns to shareholders of 34% over the past three years. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$275, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 20x in the Chemicals industry in Taiwan. Total returns to shareholders of 16% over the past three years. Announcement • May 30
Allied Supreme Corp. Approves Board Elections Allied Supreme Corp. at its 2025 Annual General Shareholders meeting held on May 29, 2025, approved the election of Director: Hou, Chia-Sheng and Independent Director: Lu, Chien-Jung, Independent Director: Wang, Kui-Ching, Independent Director: Chien, Yu-Kuo and Independent Director: Chen, Yun-Chang. Reported Earnings • May 13
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: NT$2.60 (down from NT$6.14 in 1Q 2024). Revenue: NT$965.9m (down 35% from 1Q 2024). Net income: NT$207.8m (down 58% from 1Q 2024). Profit margin: 22% (down from 33% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) also missed analyst estimates by 5.9%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Chemicals industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • May 01
Allied Supreme Corp. to Report Q1, 2025 Results on May 08, 2025 Allied Supreme Corp. announced that they will report Q1, 2025 results on May 08, 2025 Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$234, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 17x in the Chemicals industry in Taiwan. Negligible returns to shareholders over past three years. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$272, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 17x in the Chemicals industry in Taiwan. Total returns to shareholders of 16% over the past three years. Major Estimate Revision • Mar 20
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$7.23b to NT$6.20b. EPS estimate fell from NT$24.35 to NT$18.42 per share. Net income forecast to shrink 15% next year vs 18% growth forecast for Chemicals industry in Taiwan . Consensus price target down from NT$434 to NT$384. Share price was steady at NT$343 over the past week. Price Target Changed • Mar 19
Price target decreased by 14% to NT$384 Down from NT$444, the current price target is an average from 2 analysts. New target price is 11% above last closing price of NT$345. Stock is down 14% over the past year. The company is forecast to post earnings per share of NT$18.42 for next year compared to NT$21.68 last year. Reported Earnings • Mar 15
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: NT$21.68 (up from NT$21.22 in FY 2023). Revenue: NT$6.46b (up 13% from FY 2023). Net income: NT$1.73b (up 2.9% from FY 2023). Profit margin: 27% (down from 30% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.7%. Revenue is forecast to grow 7.1% p.a. on average during the next 2 years, compared to a 4.9% growth forecast for the Chemicals industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 11% per year. Announcement • Mar 13
Allied Supreme Corp., Annual General Meeting, May 29, 2025 Allied Supreme Corp., Annual General Meeting, May 29, 2025, at 10:00 Taipei Standard Time. Location: no,300, ch`ing fu rd., siansi township, changhua county Taiwan Declared Dividend • Mar 13
Dividend of NT$12.00 announced Dividend of NT$12.00 is the same as last year. Ex-date: 27th March 2025 Payment date: 30th April 2025 Dividend yield will be 3.5%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (75% cash payout ratio). The dividend has increased by an average of 29% per year over the past 4 years and payments have been stable during that time. EPS is expected to grow by 19% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 12
Allied Supreme Corp. Announces Cash Dividend Distribution for the Year 2024, Payable on April 30, 2025 Allied Supreme Corp. announced cash dividend distribution for the year 2024. Type and monetary amount of common stock dividend distribution: Cash dividends: TWD 959,712,000 (TWD 12 distributed per share). Ex-rights (ex-dividend) trading date: March 27, 2025; Ex-rights (ex-dividend) record date: April 4, 2025. Payment date of common stock cash dividend distribution: April 30, 2025. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$372, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 20x in the Chemicals industry in Taiwan. Total returns to shareholders of 68% over the past three years. Announcement • Feb 28
Allied Supreme Corp. to Report Q4, 2024 Results on Mar 07, 2025 Allied Supreme Corp. announced that they will report Q4, 2024 results on Mar 07, 2025 New Risk • Feb 21
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 6.1% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$330, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 17x in the Chemicals industry in Taiwan. Total returns to shareholders of 40% over the past three years. Reported Earnings • Nov 15
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: EPS: NT$5.28 (up from NT$4.82 in 3Q 2023). Revenue: NT$1.77b (up 44% from 3Q 2023). Net income: NT$422.1m (up 10% from 3Q 2023). Profit margin: 24% (down from 31% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.3%. Earnings per share (EPS) missed analyst estimates by 5.2%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Chemicals industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 9% per year. Announcement • Nov 01
Allied Supreme Corp. to Report Q3, 2024 Results on Nov 08, 2024 Allied Supreme Corp. announced that they will report Q3, 2024 results on Nov 08, 2024 Reported Earnings • Aug 12
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: NT$5.01 (up from NT$4.75 in 2Q 2023). Revenue: NT$1.59b (up 8.4% from 2Q 2023). Net income: NT$400.4m (up 6.6% from 2Q 2023). Profit margin: 25% (in line with 2Q 2023). Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 10%. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 4.7% growth forecast for the Chemicals industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 19% per year and the company’s share price has also increased by 19% per year. Buy Or Sell Opportunity • Aug 05
Now 25% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to NT$348. The fair value is estimated to be NT$462, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 19% in a year. Earnings are forecast to grow by 16% in the next year. Announcement • Aug 01
Allied Supreme Corp. to Report Q2, 2024 Results on Aug 08, 2024 Allied Supreme Corp. announced that they will report Q2, 2024 results on Aug 08, 2024 Reported Earnings • May 18
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: NT$6.14 (down from NT$6.81 in 1Q 2023). Revenue: NT$1.48b (down 13% from 1Q 2023). Net income: NT$489.9m (down 9.0% from 1Q 2023). Profit margin: 33% (up from 32% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 4.9%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Chemicals industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 22% per year. Announcement • May 02
Allied Supreme Corp. to Report Q1, 2024 Results on May 09, 2024 Allied Supreme Corp. announced that they will report Q1, 2024 results on May 09, 2024 Price Target Changed • Mar 22
Price target increased by 14% to NT$419 Up from NT$369, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of NT$415. Stock is up 40% over the past year. The company is forecast to post earnings per share of NT$22.89 for next year compared to NT$21.22 last year. Upcoming Dividend • Mar 21
Upcoming dividend of NT$12.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 30 April 2024. Payout ratio is a comfortable 57% but the company is paying out more than the cash it is generating. Trailing yield: 2.8%. Lower than top quartile of Taiwanese dividend payers (4.7%). Lower than average of industry peers (4.1%). Reported Earnings • Mar 16
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: NT$21.22 (down from NT$22.54 in FY 2022). Revenue: NT$5.69b (down 7.3% from FY 2022). Net income: NT$1.68b (down 5.2% from FY 2022). Profit margin: 30% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 8.4% growth forecast for the Chemicals industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 34% per year. Price Target Changed • Mar 13
Price target increased by 13% to NT$393 Up from NT$348, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of NT$387. Stock is up 21% over the past year. The company is forecast to post earnings per share of NT$21.17 for next year compared to NT$22.54 last year. Declared Dividend • Mar 10
Dividend of NT$12.00 announced Dividend of NT$12.00 is the same as last year. Ex-date: 28th March 2024 Payment date: 30th April 2024 Dividend yield will be 3.1%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (53% earnings payout ratio) but not covered by cash flows (294% cash payout ratio). The dividend has increased by an average of 41% per year over the past 3 years and payments have been stable during that time. EPS is expected to grow by 14% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Feb 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$405, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 24x in the Chemicals industry in Taiwan. Total returns to shareholders of 178% over the past three years. Reported Earnings • Nov 17
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: EPS: NT$4.82 (down from NT$5.91 in 3Q 2022). Revenue: NT$1.23b (down 19% from 3Q 2022). Net income: NT$383.5m (down 18% from 3Q 2022). Profit margin: 31% (in line with 3Q 2022). Revenue missed analyst estimates by 9.7%. Earnings per share (EPS) exceeded analyst estimates by 5.9%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Chemicals industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 41% per year whereas the company’s share price has increased by 38% per year. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$365, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 21x in the Chemicals industry in Taiwan. Total returns to shareholders of 196% over the past three years. Price Target Changed • Nov 10
Price target increased by 8.9% to NT$348 Up from NT$319, the current price target is an average from 3 analysts. New target price is 9.5% above last closing price of NT$318. Stock is up 2.4% over the past year. The company is forecast to post earnings per share of NT$21.14 for next year compared to NT$22.54 last year. Reported Earnings • Aug 10
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: NT$4.75 (down from NT$5.66 in 2Q 2022). Revenue: NT$1.46b (down 8.0% from 2Q 2022). Net income: NT$375.6m (down 15% from 2Q 2022). Profit margin: 26% (down from 28% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 9.2%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 7.6% p.a. on average during the next 2 years, compared to a 5.1% growth forecast for the Chemicals industry in Taiwan. Price Target Changed • May 11
Price target decreased by 16% to NT$339 Down from NT$405, the current price target is an average from 2 analysts. New target price is 23% above last closing price of NT$275. Stock is up 4.8% over the past year. The company is forecast to post earnings per share of NT$23.67 for next year compared to NT$22.54 last year. Reported Earnings • May 10
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: NT$6.81 (up from NT$4.58 in 1Q 2022). Revenue: NT$1.70b (up 23% from 1Q 2022). Net income: NT$538.2m (up 50% from 1Q 2022). Profit margin: 32% (up from 26% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.9%. Earnings per share (EPS) also surpassed analyst estimates by 22%. Revenue is forecast to grow 9.7% p.a. on average during the next 2 years, while revenues in the Chemicals industry in Taiwan are expected to remain flat. Buying Opportunity • Apr 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be NT$370, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 36% over the last 3 years. Earnings per share has grown by 51%. Revenue is forecast to grow by 24% in 2 years. Earnings is forecast to grow by 21% in the next 2 years. Buying Opportunity • Mar 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 10%. The fair value is estimated to be NT$368, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 36% over the last 3 years. Earnings per share has grown by 51%. Revenue is forecast to grow by 24% in 2 years. Earnings is forecast to grow by 21% in the next 2 years. Reported Earnings • Mar 24
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: NT$22.54 (up from NT$13.94 in FY 2021). Revenue: NT$6.14b (up 60% from FY 2021). Net income: NT$1.78b (up 84% from FY 2021). Profit margin: 29% (up from 25% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.9%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 2.1% growth forecast for the Chemicals industry in Taiwan. Price Target Changed • Mar 21
Price target decreased by 9.0% to NT$380 Down from NT$417, the current price target is an average from 2 analysts. New target price is 29% above last closing price of NT$294. Stock is up 19% over the past year. The company is forecast to post earnings per share of NT$21.48 for next year compared to NT$13.94 last year. Upcoming Dividend • Mar 17
Upcoming dividend of NT$12.00 per share at 2.5% yield Eligible shareholders must have bought the stock before 24 March 2023. Payment date: 28 April 2023. Payout ratio is a comfortable 39% and the cash payout ratio is 96%. Trailing yield: 2.5%. Lower than top quartile of Taiwanese dividend payers (6.2%). Lower than average of industry peers (6.6%). Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. 3 independent directors (6 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: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 10
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: NT$5.91 (up from NT$4.01 in 3Q 2021). Revenue: NT$1.53b (up 48% from 3Q 2021). Net income: NT$467.0m (up 68% from 3Q 2021). Profit margin: 31% (up from 27% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 6.5%. Earnings per share (EPS) exceeded analyst estimates by 7.4%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, while revenues in the Chemicals industry in Taiwan are expected to remain flat. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$285, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Chemicals industry in Taiwan. Total returns to shareholders of 32% over the past year. Simply Wall St's valuation model estimates the intrinsic value at NT$567 per share. Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improved over the past week After last week's 21% share price gain to NT$320, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Chemicals industry in Taiwan. Total returns to shareholders of 51% over the past year. Simply Wall St's valuation model estimates the intrinsic value at NT$595 per share. Reported Earnings • Aug 13
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: NT$5.65 (up from NT$3.04 in 2Q 2021). Revenue: NT$1.59b (up 78% from 2Q 2021). Net income: NT$444.2m (up 112% from 2Q 2021). Profit margin: 28% (up from 23% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 9.1%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Over the next year, revenue is forecast to grow 29% compared to a 1.7% decline forecast for the industry in Taiwan. Reported Earnings • May 12
First quarter 2022 earnings: EPS exceeds analyst expectations First quarter 2022 results: EPS: NT$4.58 (up from NT$2.79 in 1Q 2021). Revenue: NT$1.38b (up 81% from 1Q 2021). Net income: NT$359.5m (up 87% from 1Q 2021). Profit margin: 26% (in line with 1Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.1%. Over the next year, revenue is forecast to grow 34% while the industry in Taiwan is not expected to grow. Reported Earnings • Mar 30
Full year 2021 earnings released: EPS: NT$13.94 (vs NT$7.65 in FY 2020) Full year 2021 results: EPS: NT$13.94 (up from NT$7.65 in FY 2020). Revenue: NT$3.83b (up 46% from FY 2020). Net income: NT$966.3m (up 84% from FY 2020). Profit margin: 25% (up from 20% in FY 2020). The increase in margin was driven by higher revenue. Upcoming Dividend • Mar 24
Upcoming dividend of NT$8.00 per share Eligible shareholders must have bought the stock before 31 March 2022. Payment date: 29 April 2022. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (6.3%). Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improved over the past week After last week's 15% share price gain to NT$291, the stock trades at a trailing P/E ratio of 22.3x. Average trailing P/E is 19x in the Chemicals industry in Taiwan. Total returns to shareholders of 118% over the past year. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$4.01 (vs NT$2.40 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.04b (up 37% from 3Q 2020). Net income: NT$277.9m (up 69% from 3Q 2020). Profit margin: 27% (up from 22% in 3Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Aug 05
First quarter 2021 earnings released: EPS NT$2.79 (vs NT$0.60 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$763.5m (up 83% from 1Q 2020). Net income: NT$191.8m (up 367% from 1Q 2020). Profit margin: 25% (up from 9.8% in 1Q 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$200, the stock trades at a trailing P/E ratio of 26.1x. Average trailing P/E is 15x in the Chemicals industry in Taiwan. Reported Earnings • Apr 28
Full year 2020 earnings released: EPS NT$7.65 (vs NT$7.30 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$2.63b (up 1.8% from FY 2019). Net income: NT$526.4m (up 5.3% from FY 2019). Profit margin: 20% (in line with FY 2019). Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improved over the past week After last week's 17% share price gain to NT$234, the stock trades at a trailing P/E ratio of 56.2x. Average trailing P/E is 21x in the Chemicals industry in Taiwan. Announcement • Mar 12
Allied Supreme Corp., Annual General Meeting, May 28, 2021 Allied Supreme Corp., Annual General Meeting, May 28, 2021. Is New 90 Day High Low • Feb 24
New 90-day high: NT$161 The company is up 19% from its price of NT$135 on 26 November 2020. The Taiwanese market is also up 19% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Chemicals industry, which is up 10.0% over the same period. Is New 90 Day High Low • Jan 21
New 90-day high: NT$143 The company is up 21% from its price of NT$119 on 23 October 2020. The Taiwanese market is also up 21% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Chemicals industry, which is up 11% over the same period. Valuation Update With 7 Day Price Move • Nov 16
Market bids up stock over the past week After last week's 16% share price gain to NT$138, the stock is trading at a trailing P/E ratio of 33.1x, up from the previous P/E ratio of 28.4x. This compares to an average P/E of 18x in the Chemicals industry in Taiwan. Valuation Update With 7 Day Price Move • Nov 12
Market bids up stock over the past week After last week's 15% share price gain to NT$138, the stock is trading at a trailing P/E ratio of 33.1x, up from the previous P/E ratio of 28.7x. This compares to an average P/E of 21x in the Chemicals industry in Taiwan.