Announcement • Mar 06
Cenra Inc., Annual General Meeting, May 26, 2026 Cenra Inc., Annual General Meeting, May 26, 2026. Location: 4 floor no,2, hsu chou rd., taipei city Taiwan Announcement • Feb 27
Cenra Inc. to Report Fiscal Year 2024 Results on Mar 06, 2025 Cenra Inc. announced that they will report fiscal year 2024 results on Mar 06, 2025 Announcement • Oct 09
Cenra Inc.(UNQ:1701) dropped from Taiwan TAIEX Index Cenra Inc. has been dropped from the Taiwan TAIEX Index Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: NT$0.27 (vs NT$0.18 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.27 (up from NT$0.18 in 2Q 2023). Revenue: NT$2.22b (up 5.2% from 2Q 2023). Net income: NT$80.3m (up 51% from 2Q 2023). Profit margin: 3.6% (up from 2.5% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Aug 05
Now 25% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.3% to NT$20.40. The fair value is estimated to be NT$27.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has declined by 15%. Announcement • Jul 30
China Chemical & Pharmaceutical Co., Ltd. to Report Q2, 2024 Results on Aug 06, 2024 China Chemical & Pharmaceutical Co., Ltd. announced that they will report Q2, 2024 results on Aug 06, 2024 Upcoming Dividend • Jul 20
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 25 July 2024. Payment date: 20 August 2024. Payout ratio is a comfortable 45% and the cash payout ratio is 93%. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (4.3%). In line with average of industry peers (2.0%). Declared Dividend • Jul 06
Dividend reduced to NT$0.50 Dividend of NT$0.50 is 38% lower than last year. Ex-date: 25th July 2024 Payment date: 20th August 2024 Dividend yield will be 2.2%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by both earnings (45% earnings payout ratio) and cash flows (58% cash payout ratio). The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Announcement • May 29
China Chemical & Pharmaceutical Co., Ltd. Announces Cenra Inc Appoints Wang Hsieh, I-Chen as Chairman of the Board of Directors, Effective September 2, 2024 China Chemical & Pharmaceutical Co., Ltd. announced Cenra Inc. to appoint the Chairman of the Board of Directors. Name of the new position holder: Chunghwa Chemical Synthesis & Biotech Co., Ltd. Representative: Wang Hsieh, I-Chen. Resume of the new position holder: Chunghwa Chemical Synthesis & Biotech Co., Ltd. Representative: Wang Hsieh, I-Chen/Chairman of the company. Reason for the change: CCPC held a regular shareholders--meeting on May 28, 2024 (also deemed to be a shareholder of Cenra Inc. founders-- meeting) to complete the election of the first directors and supervisors, led by Cenra Inc. Ms. Wang Hsieh, I-Chen, the director with the highest number of votes in the first term, convened the first board of directors, and the meeting was approved by Cenra Inc. The board of directors of the company unanimously elected Director Wang Hsieh, I-Chen as chairman of the board. The exercise of powers and term of office of the new chairman of the board of directors will start from the time when the election results are confirmed until the results of the next director election are confirmed. Effective date of appointment is September 2, 2024. Reported Earnings • May 18
First quarter 2024 earnings released: EPS: NT$0.36 (vs NT$0.34 in 1Q 2023) First quarter 2024 results: EPS: NT$0.36 (up from NT$0.34 in 1Q 2023). Revenue: NT$2.28b (up 8.9% from 1Q 2023). Net income: NT$105.8m (up 5.7% from 1Q 2023). Profit margin: 4.6% (down from 4.8% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • May 02
China Chemical & Pharmaceutical Co., Ltd. to Report Q1, 2024 Results on May 09, 2024 China Chemical & Pharmaceutical Co., Ltd. announced that they will report Q1, 2024 results on May 09, 2024 Reported Earnings • Apr 02
Full year 2023 earnings released: EPS: NT$1.08 (vs NT$1.61 in FY 2022) Full year 2023 results: EPS: NT$1.08 (down from NT$1.61 in FY 2022). Revenue: NT$8.57b (up 1.4% from FY 2022). Net income: NT$322.3m (down 33% from FY 2022). Profit margin: 3.8% (down from 5.6% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Mar 12
China Chemical & Pharmaceutical Co., Ltd. Proposes Dividend Distribution for the Year Ended December 31, 2023 China Chemical & Pharmaceutical Co., Ltd. proposed appropriations of earnings in cash dividends to shareholders of TWD 0.5 per share for the year ended December 31, 2023. Announcement • Feb 02
China Chemical & Pharmaceutical Co., Ltd., Annual General Meeting, May 28, 2024 China Chemical & Pharmaceutical Co., Ltd., Annual General Meeting, May 28, 2024. Location: No. 2, Xuzhou Road, Zhongzheng District Taipei Taiwan Agenda: To consider the 2023 Business Report; to consider audit committees review report on the 2023 financial statements; to consider Distribution of employees and directors compensation in 2023; to consider Other report items; and to consider other matters. New Risk • Aug 12
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: 4.5% Last year net profit margin: 6.6% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: NT$0.18 (vs NT$0.52 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.18 (down from NT$0.52 in 2Q 2022). Revenue: NT$2.11b (up 1.3% from 2Q 2022). Net income: NT$53.0m (down 66% from 2Q 2022). Profit margin: 2.5% (down from 7.5% in 2Q 2022). The decrease in margin was driven by higher expenses. 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. Upcoming Dividend • Jul 18
Upcoming dividend of NT$0.80 per share at 3.2% yield Eligible shareholders must have bought the stock before 25 July 2023. Payment date: 22 August 2023. Payout ratio is a comfortable 49% but the company is paying out more than the cash it is generating. Trailing yield: 3.2%. Lower than top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (1.5%). Announcement • Jun 30
China Chemical & Pharmaceutical Co., Ltd. Approves Cash Dividend, Payable on August 22, 2023 China Chemical & Pharmaceutical Co., Ltd. at its shareholders meeting held on June 29, 2023, approved cash dividends to shareholders TWD 238,464,864 (TWD 0.8 per share). Ex-rights (ex-dividend) trading date is July 25, 2023. Ex-rights (ex-dividend) record date is July 31, 2023. Cash Dividend Payment Date is August 22, 2023. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improved over the past week After last week's 20% share price gain to NT$34.15, the stock trades at a trailing P/E ratio of 19.3x. Average trailing P/E is 24x in the Pharmaceuticals industry in Taiwan. Total returns to shareholders of 99% over the past three years. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improved over the past week After last week's 19% share price gain to NT$25.30, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 19x in the Pharmaceuticals industry in Taiwan. Total returns to shareholders of 49% over the past three years. Board Change • Nov 16
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Director Hilo Chen is the most experienced director on the board, commencing their role in 2016. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.43 (vs NT$0.43 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.43 (down from NT$0.43 in 3Q 2021). Revenue: NT$2.08b (up 8.7% from 3Q 2021). Net income: NT$126.8m (down 1.6% from 3Q 2021). Profit margin: 6.1% (down from 6.7% 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 8% per year whereas the company’s share price has increased by 3% per year. Reported Earnings • Aug 13
Second quarter 2022 earnings released: EPS: NT$0.52 (vs NT$0.35 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.52 (up from NT$0.35 in 2Q 2021). Revenue: NT$2.08b (up 2.2% from 2Q 2021). Net income: NT$155.3m (up 48% from 2Q 2021). Profit margin: 7.5% (up from 5.2% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 5% per year. Upcoming Dividend • Jul 18
Upcoming dividend of NT$0.90 per share Eligible shareholders must have bought the stock before 25 July 2022. Payment date: 19 August 2022. Payout ratio is a comfortable 56% but the company is paying out more than the cash it is generating. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (2.9%). Announcement • Jun 29
China Chemical & Pharmaceutical Co., Ltd. Announces Cash Dividends to Shareholders, Payable on August 19, 2022 China Chemical & Pharmaceutical Co., Ltd. announced Cash dividends to shareholders TWD 268,272,972 (TWD 0.9 per share). Ex-rights (ex-dividend) trading date is July 25, 2022. Ex-rights (ex-dividend) record date is July 31, 2022. Cash Dividend Payment Date is August 19, 2022. Board Change • Jun 04
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Director Hilo Chen is the most experienced director on the board, commencing their role in 2016. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.30 (vs NT$0.43 in 1Q 2021) First quarter 2022 results: EPS: NT$0.30 (down from NT$0.43 in 1Q 2021). Revenue: NT$1.98b (flat on 1Q 2021). Net income: NT$88.5m (down 31% from 1Q 2021). Profit margin: 4.5% (down from 6.5% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 7% per year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Yen Pong Jou was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improved over the past week After last week's 23% share price gain to NT$27.75, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 22x in the Pharmaceuticals industry in Taiwan. Total returns to shareholders of 65% over the past three years. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: NT$1.74 (vs NT$1.88 in FY 2020) Full year 2021 results: EPS: NT$1.74 (down from NT$1.88 in FY 2020). Revenue: NT$7.95b (down 2.8% from FY 2020). Net income: NT$517.5m (down 7.2% from FY 2020). Profit margin: 6.5% (down from 6.8% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Mar 10
China Chemical & Pharmaceutical Co., Ltd. Announces Cash Dividend for the Year Ended December 31, 2021 China Chemical & Pharmaceutical Co., Ltd. announced appropriations of earnings in cash dividends to shareholders is TWD 0.9 for the period ended December 31, 2021. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS NT$0.43 (vs NT$0.40 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: NT$1.91b (down 5.4% from 3Q 2020). Net income: NT$128.8m (up 9.7% from 3Q 2020). Profit margin: 6.7% (up from 5.8% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS NT$0.35 (vs NT$0.78 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$2.04b (up 6.4% from 2Q 2020). Net income: NT$105.1m (down 55% from 2Q 2020). Profit margin: 5.2% (down from 12% 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 16% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 16
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 23 July 2021. Payment date: 20 August 2021. Trailing yield: 4.0%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (2.2%). Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.43 (vs NT$0.38 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: NT$1.99b (down 4.5% from 1Q 2020). Net income: NT$128.6m (up 15% from 1Q 2020). Profit margin: 6.5% (up from 5.4% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$1.88 (vs NT$1.29 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$8.18b (up 2.7% from FY 2019). Net income: NT$557.4m (up 45% from FY 2019). Profit margin: 6.8% (up from 4.8% in FY 2019). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Jan 15
New 90-day low: NT$22.50 The company is down 1.0% from its price of NT$22.65 on 16 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. Is New 90 Day High Low • Dec 23
New 90-day high: NT$23.80 The company is up 1.0% from its price of NT$23.50 on 24 September 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Pharmaceuticals industry, which is down 12% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.39 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$2.02b (up 2.8% from 3Q 2019). Net income: NT$117.5m (up 20% from 3Q 2019). Profit margin: 5.8% (up from 5.0% 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 16% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Nov 10
China Chemical & Pharmaceutical Co., Ltd. Announces Chow,Dah-Jen as Member of Compensation Committee China Chemical & Pharmaceutical Co., Ltd. announced new appointment Member of Compensation Committee, effective November 9, 2020. Name and resume of the new position holder: CHOW,DAH-JEN /AmTRAN Technology’s Independent Director. 
