Reported Earnings • Mar 31
Full year 2025 earnings released: EPS: NT$1.66 (vs NT$1.48 in FY 2024) Full year 2025 results: EPS: NT$1.66 (up from NT$1.48 in FY 2024). Revenue: NT$6.19b (up 12% from FY 2024). Net income: NT$821.8m (up 20% from FY 2024). Profit margin: 13% (up from 12% in FY 2024). 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 fallen by 4% per year. Announcement • Mar 11
Synmosa Biopharma Corporation, Annual General Meeting, May 28, 2026 Synmosa Biopharma Corporation, Annual General Meeting, May 28, 2026, at 09:00 Taipei Standard Time. Location: 4 floor no,207, t`i ting ta tao, neihu district, taipei city Taiwan New Risk • Mar 04
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 132% Dividend yield: 1.8% 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. Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: NT$0.41 (vs NT$0.35 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.41 (up from NT$0.35 in 3Q 2024). Revenue: NT$1.54b (up 8.0% from 3Q 2024). Net income: NT$207.6m (up 27% from 3Q 2024). Profit margin: 14% (up from 12% 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 4% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Aug 16
Now 21% undervalued Over the last 90 days, the stock has risen 19% to NT$36.15. The fair value is estimated to be NT$46.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has declined by 4.8%. Upcoming Dividend • Jul 04
Upcoming dividend of NT$0.60 per share Eligible shareholders must have bought the stock before 11 July 2025. Payment date: 15 August 2025. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.6%). Announcement • Jun 24
Synmosa Biopharma Corporation Announces Change of Compensation Committee, Effective from June 23, 2025 Synmosa Biopharma Corporation announced change of Compensation Committee of the company. Name of the previous position holder: Independent Director-Liu, Xiang-Lang; Independent Director-Lin, Xiu-Mei; Independent Director-Wang Chien-Jen; Independent Director-Su, Lai-Shou. Resume of the previous position holder: Independent Director-Liu, Xiang-Lang, Chairman of IsoGreen Biotechnology Inc. Independent Director-Lin, Xiu-Mei, Purchasing Manager of Hualon CO. Independent Director-Wang Chien-Jen, President of RICH WANG PLASTIC CO., LTD. Independent Director-Tu, San-Chien, Chairman of Deloitte & Touche. Name of the new position holder: Independent Director-Tu, San-Chien. Independent Director-Chen, Chen-Wen. Independent Director-Su, Lai-Shou. Independent Director-Chen, Chi-Wen. Resume of the new position holder: Independent Director-Tu, San-Chien, Chairman of Deloitte & Touche. Independent Director-Chen, Chen-Wen, Chairman of Microbio Co. Ltd. Independent Director-Su, Lai-Shou, Executive Secretary of National Development Fund, Executive Yuan. Independent Director-Chen, Chi-Wen, Business Department/Deputy General Manager of 3D Global Biotech Inc. Effective date of the new member: from June 23, 2025. Announcement • May 06
Synmosa Biopharma Corporation to Report Q1, 2025 Results on May 13, 2025 Synmosa Biopharma Corporation announced that they will report Q1, 2025 results on May 13, 2025 Reported Earnings • May 01
Full year 2024 earnings released: EPS: NT$1.63 (vs NT$1.47 in FY 2023) Full year 2024 results: EPS: NT$1.63 (up from NT$1.47 in FY 2023). Revenue: NT$5.55b (up 8.0% from FY 2023). Net income: NT$684.7m (up 15% from FY 2023). Profit margin: 12% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 07
Synmosa Biopharma Corporation, Annual General Meeting, May 23, 2025 Synmosa Biopharma Corporation, Annual General Meeting, May 23, 2025. Location: 4 floor no,207, t`i ting ta tao, neihu district, taipei city Taiwan Announcement • Feb 25
Synmosa Biopharma Corporation has completed a Follow-on Equity Offering in the amount of TWD 1.057 billion. Synmosa Biopharma Corporation has completed a Follow-on Equity Offering in the amount of TWD 1.057 billion.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 8,750,000
Price\Range: TWD 30.2
Security Name: Shares
Security Type: Common Stock
Securities Offered: 26,250,000
Price\Range: TWD 30.2
Transaction Features: Reserved Share Offering; Rights Offering New Risk • Dec 17
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: NT$0.39 (vs NT$0.32 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.39 (up from NT$0.32 in 3Q 2023). Revenue: NT$1.42b (up 15% from 3Q 2023). Net income: NT$163.4m (up 22% from 3Q 2023). Profit margin: 12% (in line with 3Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 62% growth forecast for the Pharmaceuticals industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 15
Synmosa Biopharma Corporation has filed a Follow-on Equity Offering. Synmosa Biopharma Corporation has filed a Follow-on Equity Offering.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 8,750,000
Security Name: Shares
Security Type: Common Stock
Securities Offered: 26,250,000
Transaction Features: Reserved Share Offering; Rights Offering Announcement • Nov 06
Synmosa Biopharma Corporation to Report Q3, 2024 Results on Nov 13, 2024 Synmosa Biopharma Corporation announced that they will report Q3, 2024 results on Nov 13, 2024 Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: NT$0.53 (vs NT$0.42 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.53 (up from NT$0.42 in 2Q 2023). Revenue: NT$1.33b (up 1.6% from 2Q 2023). Net income: NT$202.4m (up 24% from 2Q 2023). Profit margin: 15% (up from 13% in 2Q 2023). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 06
Synmosa Biopharma Corporation to Report Q2, 2024 Results on Aug 13, 2024 Synmosa Biopharma Corporation announced that they will report Q2, 2024 results on Aug 13, 2024 Declared Dividend • Jul 24
Dividend of NT$0.60 announced Shareholders will receive a dividend of NT$0.60. Ex-date: 9th August 2024 Payment date: 13th September 2024 Dividend yield will be 1.5%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (35% earnings payout ratio) but not adequately covered by cash flows (95% cash payout ratio). The dividend has increased by an average of 23% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 49% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 23
Synmosa Biopharma Corporation Announces Cash Dividend, Payable on September 13, 2024 Synmosa Biopharma Corporation announced cash dividends of TWD 230,913,539 (TWD 0.6 per share). Ex-rights (Ex-dividend) date: August 9, 2024. Ex-rights (Ex-dividend) record date: August 17, 2024. Payment date of cash dividend distribution: September 13, 2024. Date of the resolution by the board of directors or shareholders’ meeting, or of the decision by the company: July 22, 2024. Reported Earnings • May 18
First quarter 2024 earnings released: EPS: NT$0.48 (vs NT$0.35 in 1Q 2023) First quarter 2024 results: EPS: NT$0.48 (up from NT$0.35 in 1Q 2023). Revenue: NT$1.28b (up 1.9% from 1Q 2023). Net income: NT$181.6m (up 44% from 1Q 2023). Profit margin: 14% (up from 10.0% in 1Q 2023). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 05
Synmosa Biopharma Corporation to Report Q1, 2024 Results on May 10, 2024 Synmosa Biopharma Corporation announced that they will report Q1, 2024 results on May 10, 2024 Reported Earnings • Mar 31
Full year 2023 earnings released: EPS: NT$1.61 (vs NT$2.25 in FY 2022) Full year 2023 results: EPS: NT$1.61 (down from NT$2.25 in FY 2022). Revenue: NT$5.14b (up 17% from FY 2022). Net income: NT$594.8m (down 26% from FY 2022). Profit margin: 12% (down from 18% in FY 2022). 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 increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 15
Synmosa Biopharma Corporation, Annual General Meeting, May 30, 2024 Synmosa Biopharma Corporation, Annual General Meeting, May 30, 2024. Announcement • Jan 17
Synmosa Biopharma Corporation Announces Changes in Fifth Session of the Remuneration Committee Synmosa Biopharma Corporation Announced the board to appoint an additional committee of the fifth session of the remuneration committee. Name of the new position holder: TU, SAN-CHIEN. Resume of the new position holder: Director, Pang Kuei Accounting Firm, Independent Director, Lin BioScience Inc., Independent Director, SINMAG EQUIPMENT CORPORATION, Independent Director, DAH CHUNG BILLS FINANCE CORP., Supervisor, JORJIN TECHNOLOGIES INC. Reason for the change: Additional appointment Cooperate with the general re-election of the shareholders' general meeting and re-appoint members of the Compensation Committee. Effective date of the new member January 16, 2024 too May 24, 2025. Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: NT$0.35 (vs NT$0.32 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.35 (up from NT$0.32 in 3Q 2022). Revenue: NT$1.23b (up 12% from 3Q 2022). Net income: NT$134.4m (up 20% from 3Q 2022). Profit margin: 11% (in line with 3Q 2022). Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 30% growth forecast for the Pharmaceuticals industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Aug 14
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: 11% Last year net profit margin: 19% 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 Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (11% net profit margin). Shareholders have been diluted in the past year (7.2% increase in shares outstanding). Reported Earnings • Aug 14
Second quarter 2023 earnings released: EPS: NT$0.46 (vs NT$1.13 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.46 (down from NT$1.13 in 2Q 2022). Revenue: NT$1.31b (up 24% from 2Q 2022). Net income: NT$163.6m (down 59% from 2Q 2022). Profit margin: 13% (down from 38% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 01
Upcoming dividend of NT$0.56 per share at 1.4% yield Eligible shareholders must have bought the stock before 08 August 2023. Payment date: 15 September 2023. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Taiwanese dividend payers (5.4%). In line with average of industry peers (1.5%). Announcement • Jul 25
Synmosa Biopharma Corporation Announces Cash Dividend, Payable on September 15, 2023 Synmosa Biopharma Corporation announced cash dividends of TWD 196,285,035 (TWD 0.5574035 per share). Payment date of cash dividend distribution on September 15, 2023. Ex-rights (Ex-dividend) record date on August 14, 2023. New Risk • Jun 23
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 7.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (7.9% increase in shares outstanding). Announcement • Jun 23
Synmosa Biopharma Corporation announced that it expects to receive TWD 950 million in funding Synmosa Biopharma Corporation announced a private placement of 25,000,000 common shares for a price of TWD 38 per share for the gross proceeds of TWD 9500 million on June 21, 2023. Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment improved over the past week After last week's 26% share price gain to NT$45.10, the stock trades at a trailing P/E ratio of 20.2x. Average forward P/E is 14x in the Pharmaceuticals industry in Taiwan. Total returns to shareholders of 155% over the past three years. Announcement • Nov 29
Synmosa Biopharma Corporation Provides Earnings Guidance for the Year 2022 Synmosa Biopharma Corporation provided earnings guidance for the year 2022. The company estimated that this year's annual revenue will increase by 36%, the gross profit rate will be 41.8%, and the net profit after tax will exceed TWD 820 million increase by 172%, EPS estimated at TWD 2.5. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.35 (vs NT$0.21 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.35 (up from NT$0.21 in 3Q 2021). Revenue: NT$1.11b (up 42% from 3Q 2021). Net income: NT$112.3m (up 60% from 3Q 2021). Profit margin: 10% (up from 9.0% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Pharmaceuticals industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. 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. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Xiu-Mei Lin was the last independent director to join the board, commencing their role in 2019. 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 13
Third quarter 2022 earnings released: EPS: NT$0.35 (vs NT$0.21 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.35 (up from NT$0.21 in 3Q 2021). Revenue: NT$1.11b (up 42% from 3Q 2021). Net income: NT$112.3m (up 60% from 3Q 2021). Profit margin: 10% (up from 9.0% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Pharmaceuticals industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improved over the past week After last week's 19% share price gain to NT$37.80, the stock trades at a trailing P/E ratio of 17.8x. Average trailing P/E is 18x in the Pharmaceuticals industry in Taiwan. Total returns to shareholders of 108% over the past three years. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$1.24 (vs NT$0.23 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.24 (up from NT$0.23 in 2Q 2021). Revenue: NT$1.06b (up 36% from 2Q 2021). Net income: NT$401.3m (up 428% from 2Q 2021). Profit margin: 38% (up from 9.8% in 2Q 2021). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 04
Upcoming dividend of NT$0.51 per share Eligible shareholders must have bought the stock before 11 July 2022. Payment date: 15 August 2022. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (2.8%). Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment improved over the past week After last week's 16% share price gain to NT$33.50, the stock trades at a trailing P/E ratio of 27.1x. Average trailing P/E is 22x in the Pharmaceuticals industry in Taiwan. Total returns to shareholders of 56% over the past three years. Reported Earnings • May 17
First quarter 2022 earnings released: EPS: NT$0.42 (vs NT$0.20 in 1Q 2021) First quarter 2022 results: EPS: NT$0.42 (up from NT$0.20 in 1Q 2021). Revenue: NT$966.7m (up 27% from 1Q 2021). Net income: NT$125.1m (up 105% from 1Q 2021). Profit margin: 13% (up from 8.0% in 1Q 2021). The increase in margin was driven by higher revenue. 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 7% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Xiu-Mei Lin was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: NT$1.02 (vs NT$2.20 in FY 2020) Full year 2021 results: EPS: NT$1.02 (down from NT$2.20 in FY 2020). Revenue: NT$3.23b (up 6.5% from FY 2020). Net income: NT$303.9m (down 52% from FY 2020). Profit margin: 9.4% (down from 21% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Feb 12
Synmosa Biopharma Corporation, Annual General Meeting, May 25, 2022 Synmosa Biopharma Corporation, Annual General Meeting, May 25, 2022. Location: 4F., No. 207, Sec. 2, Tiding Blvd Neihu Dist Taipei City 114064, Taiwan (R.O.C.) (4A meeting room) Taipei Taiwan Agenda: To consider report of the 2021 business report; to consider report of the 2021 audit committees report; to consider report of the distribution of the 2021 employees' and directors' compensations; to consider report of the 2021 earnings is cash dividends distribution; to approve the 2021 business report and financial statements; to approve the proposal for the distribution of 2021 earnings; to approve increase capital stock by earnings recapitalization; to approve the amendments of the company's article of incorporation; to elect directors; and to consider other matters. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.24 (vs NT$0.25 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$778.0m (up 5.0% from 3Q 2020). Net income: NT$70.3m (down 5.8% from 3Q 2020). Profit margin: 9.0% (down from 10% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 16
Upcoming dividend of NT$0.30 per share Eligible shareholders must have bought the stock before 23 September 2021. Payment date: 28 October 2021. Trailing yield: 1.2%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.3%). Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$0.29 (vs NT$1.66 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$778.2m (up 13% from 2Q 2020). Net income: NT$76.0m (down 82% from 2Q 2020). Profit margin: 9.8% (down from 61% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 14
First quarter 2021 earnings released: EPS NT$0.23 (vs NT$0.26 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$760.3m (down 3.3% from 1Q 2020). Net income: NT$61.0m (down 5.7% from 1Q 2020). Profit margin: 8.0% (down from 8.2% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Mar 12
Synmosa Biopharma Corporation Approves Cash Dividends Synmosa Biopharma Corporation approved cash dividends to shareholders of TWD 80,789,787. Per value of common stock is TWD 10. Announcement • Mar 11
Synmosa Biopharma Corporation, Annual General Meeting, May 25, 2021 Synmosa Biopharma Corporation, Annual General Meeting, May 25, 2021. Location: 4F., No. 207, Sec. 2, Tiding Blvd., Neihu Dist., Taipei City 114064, Taiwan (R.O.C.) (4A meeting room) Taipei City Taiwan Agenda: To consider the Business Report of year 2020; to consider Audit committees review report; to consider the report on the implementation of the company’s treasury stocks; to consider 2020 Employees profit sharing bonus and directors compensation distribution; to consider the revision of the company’s report on some provisions of the Measures for Buying Back Shares and Transferring Employees; to consider the amendments on part of Rules of Procedure of the Board of Directors of the company; to consider formulate Ethical Corporate Management Best Practice of the company; to consider 2020 Business Report and Financial Statements; to consider the proposal for distribution of Y2020 earnings; and to consider other matters. Reported Earnings • Mar 11
Full year 2020 earnings released: EPS NT$2.46 (vs NT$0.20 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$3.04b (up 13% from FY 2019). Net income: NT$638.1m (up NT$591.0m from FY 2019). Profit margin: 21% (up from 1.8% in FY 2019). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Mar 11
Revenue beats expectations Revenue exceeded analyst estimates by 0.03%. Over the next year, revenue is forecast to grow 7.0%, compared to a 228% growth forecast for the Pharmaceuticals industry in Taiwan. Is New 90 Day High Low • Jan 20
New 90-day low: NT$24.05 The company is down 3.0% from its price of NT$24.80 on 23 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Pharmaceuticals industry, which is down 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$14.78 per share. Reported Earnings • Nov 13
Third quarter 2020 earnings released: EPS NT$0.28 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$741.3m (up 11% from 3Q 2019). Net income: NT$74.6m (up NT$63.0m from 3Q 2019). Profit margin: 10% (up from 1.7% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. 
