Upcoming Dividend • Jun 01
Upcoming dividend of NT$2.80 per share Eligible shareholders must have bought the stock before 08 June 2026. Payment date: 30 June 2026. The company last paid an ordinary dividend in July 2021. The average dividend yield among industry peers is 5.9%. New Risk • May 13
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: 8.9% Last year net profit margin: 13% 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: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risk Profit margins are more than 30% lower than last year (8.9% net profit margin). Reported Earnings • May 13
First quarter 2026 earnings released: NT$0.12 loss per share (vs NT$1.51 profit in 1Q 2025) First quarter 2026 results: NT$0.12 loss per share (down from NT$1.51 profit in 1Q 2025). Revenue: NT$1.25b (down 84% from 1Q 2025). Net loss: NT$86.2m (down 108% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 11
Full year 2025 earnings released: EPS: NT$3.06 (vs NT$1.62 in FY 2024) Full year 2025 results: EPS: NT$3.06 (up from NT$1.62 in FY 2024). Revenue: NT$18.0b (up 108% from FY 2024). Net income: NT$2.14b (up 127% from FY 2024). Profit margin: 12% (up from 11% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Mar 05
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 9.6% to NT$26.25. The fair value is estimated to be NT$20.93, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 73% over the last 3 years. Earnings per share has grown by 58%. Announcement • Mar 05
YeaShin International Development Co., Ltd., Annual General Meeting, May 20, 2026 YeaShin International Development Co., Ltd., Annual General Meeting, May 20, 2026. Location: no,1, sec.1 wen hua 3rd rd., linkou district, new taipei city Taiwan Buy Or Sell Opportunity • Jan 08
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 4.9% to NT$25.65. The fair value is estimated to be NT$20.41, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 73% over the last 3 years. Earnings per share has grown by 58%. Buy Or Sell Opportunity • Dec 22
Now 20% overvalued Over the last 90 days, the stock has fallen 3.1% to NT$24.65. The fair value is estimated to be NT$20.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 73% over the last 3 years. Earnings per share has grown by 58%. New Risk • Nov 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% 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: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Payout ratio: 171% Paying a dividend despite having no free cash flows. Minor Risk Shareholders have been diluted in the past year (16% increase in shares outstanding). Reported Earnings • Nov 13
Third quarter 2025 earnings released: NT$0.26 loss per share (vs NT$0.35 loss in 3Q 2024) Third quarter 2025 results: NT$0.26 loss per share (improved from NT$0.35 loss in 3Q 2024). Revenue: NT$370.6m (up 68% from 3Q 2024). Net loss: NT$187.5m (loss narrowed 3.9% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: NT$0.24 (vs NT$0.19 loss in 2Q 2024) Second quarter 2025 results: EPS: NT$0.24 (up from NT$0.19 loss in 2Q 2024). Revenue: NT$2.85b (up NT$2.55b from 2Q 2024). Net income: NT$163.3m (up NT$268.9m from 2Q 2024). Profit margin: 5.7% (up from net loss in 2Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jun 06
Dividend of NT$1.27 announced Shareholders will receive a dividend of NT$1.27. Ex-date: 23rd June 2025 Payment date: 14th July 2025 Dividend yield will be 3.8%, which is about the same as the industry average. Sustainability & Growth Dividend is not covered by earnings (178% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 98% to bring the payout ratio under control, which is more than the 52% EPS growth achieved over the last 5 years. Announcement • Jun 06
YeaShin International Development Co., Ltd. has filed a Follow-on Equity Offering. YeaShin International Development Co., Ltd. has filed a Follow-on Equity Offering.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,000,000
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 28,000,000
Transaction Features: Rights Offering Announcement • Jun 05
YeaShin International Development Co., Ltd. Approves Cash Dividend, Payable on July 14, 2025 YeaShin International Development Co., Ltd. approved Cash Dividend TWD 848,625,555 with TWD 1.27 per share for year 2024, payable on July 14, 2025; record date: June 29, 2025; Ex-date: June 23, 2025. Reported Earnings • May 13
First quarter 2025 earnings released: EPS: NT$1.55 (vs NT$0.018 loss in 1Q 2024) First quarter 2025 results: EPS: NT$1.55 (up from NT$0.018 loss in 1Q 2024). Revenue: NT$7.77b (up NT$6.71b from 1Q 2024). Net income: NT$1.03b (up NT$1.04b from 1Q 2024). Profit margin: 13% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Announcement • May 07
YeaShin International Development Co., Ltd. announced that it expects to receive TWD 350 million in funding YeaShin International Development Co., Ltd announced a private placement to issue 35,000,000 shares at an issue price of TWD 10 per share for gross proceeds of TWD 350,000,000 on May 6, 2025. The transaction has been approved by shareholders. Announcement • Apr 29
YeaShin International Development Co., Ltd. to Report Q1, 2025 Results on May 06, 2025 YeaShin International Development Co., Ltd. announced that they will report Q1, 2025 results on May 06, 2025 Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to NT$27.10, the stock trades at a trailing P/E ratio of 19.2x. Average forward P/E is 10x in the Real Estate industry in Taiwan. Total returns to shareholders of 56% over the past three years. New Risk • Mar 18
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 23% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Payout ratio: 178% Paying a dividend despite having no free cash flows. High level of non-cash earnings (23% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (11% net profit margin). Shareholders have been diluted in the past year (25% increase in shares outstanding). Reported Earnings • Mar 18
Full year 2024 earnings released: EPS: NT$1.65 (vs NT$2.46 in FY 2023) Full year 2024 results: EPS: NT$1.65 (down from NT$2.46 in FY 2023). Revenue: NT$8.69b (up 55% from FY 2023). Net income: NT$944.0m (down 23% from FY 2023). Profit margin: 11% (down from 22% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. New Risk • Mar 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% 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: Major Risks Interest payments are not well covered by earnings (2.3x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 178% Paying a dividend despite having no free cash flows. Minor Risks Profit margins are more than 30% lower than last year (10% net profit margin). Shareholders have been diluted in the past year (25% increase in shares outstanding). Announcement • Mar 05
YeaShin International Development Co., Ltd., Annual General Meeting, Jun 04, 2025 YeaShin International Development Co., Ltd., Annual General Meeting, Jun 04, 2025. Location: no,1, sec.1 wen hua 3rd rd., linkou district, new taipei city Taiwan Announcement • Feb 25
YeaShin International Development Co., Ltd. to Report Q4, 2024 Results on Mar 04, 2025 YeaShin International Development Co., Ltd. announced that they will report Q4, 2024 results on Mar 04, 2025 Reported Earnings • Nov 12
Third quarter 2024 earnings released: NT$0.37 loss per share (vs NT$1.15 profit in 3Q 2023) Third quarter 2024 results: NT$0.37 loss per share (down from NT$1.15 profit in 3Q 2023). Revenue: NT$221.1m (down 91% from 3Q 2023). Net loss: NT$195.2m (down 135% from profit in 3Q 2023). Revenue is forecast to grow 72% p.a. on average during the next 2 years, compared to a 39% growth forecast for the Real Estate industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Announcement • Oct 29
YeaShin International Development Co., Ltd. to Report Q3, 2024 Results on Nov 05, 2024 YeaShin International Development Co., Ltd. announced that they will report Q3, 2024 results on Nov 05, 2024 Announcement • Aug 17
YeaShin International Development Co., Ltd. has filed a Follow-on Equity Offering. YeaShin International Development Co., Ltd. has filed a Follow-on Equity Offering.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 5,000,000
Security Name: Shares
Security Type: Common Stock
Securities Offered: 5,000,000
Security Name: Shares
Security Type: Common Stock
Securities Offered: 40,000,000
Transaction Features: Reserved Share Offering; Rights Offering Reported Earnings • Aug 15
Second quarter 2024 earnings released: NT$0.20 loss per share (vs NT$0.15 loss in 2Q 2023) Second quarter 2024 results: NT$0.20 loss per share (further deteriorated from NT$0.15 loss in 2Q 2023). Revenue: NT$293.4m (up 123% from 2Q 2023). Net loss: NT$105.7m (loss widened 51% from 2Q 2023). Revenue is forecast to grow 58% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Real Estate industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$41.50, the stock trades at a trailing P/E ratio of 17x. Average forward P/E is 10x in the Real Estate industry in Taiwan. Total returns to shareholders of 160% over the past three years. Announcement • Jul 30
YeaShin International Development Co., Ltd. to Report Q2, 2024 Results on Aug 06, 2024 YeaShin International Development Co., Ltd. announced that they will report Q2, 2024 results on Aug 06, 2024 New Risk • Jul 22
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 6.5% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Shareholders have been diluted in the past year (14% increase in shares outstanding). Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$47.00, the stock trades at a trailing P/E ratio of 19.3x. Average forward P/E is 10x in the Real Estate industry in Taiwan. Total returns to shareholders of 184% over the past three years. Upcoming Dividend • Jun 19
Upcoming dividend of NT$1.62 per share Eligible shareholders must have bought the stock before 26 June 2024. Payment date: 16 July 2024. Payout ratio is a comfortable 56% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of Taiwanese dividend payers (4.2%). Lower than average of industry peers (2.7%). Announcement • May 30
YeaShin International Development Co., Ltd. Announces Cash Dividend for 2023, Payable on July 16, 2024 YeaShin International Development Co., Ltd. announced cash dividend of TWD 841,343,655 with TWD 1.65 per share. Ex-rights (Ex-dividend) date is June 26, 2024; Ex-rights (Ex-dividend) record date is July 02, 2024; Payment date of cash dividend distribution is July 16, 2024. Reported Earnings • May 18
First quarter 2024 earnings released: NT$0.02 loss per share (vs NT$0.089 loss in 1Q 2023) First quarter 2024 results: NT$0.02 loss per share (improved from NT$0.089 loss in 1Q 2023). Revenue: NT$1.07b (up NT$978.3m from 1Q 2023). Net loss: NT$9.48m (loss narrowed 76% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 2% 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 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$47.00, the stock trades at a trailing P/E ratio of 19.7x. Average trailing P/E is 25x in the Real Estate industry in Taiwan. Total returns to shareholders of 162% over the past three years. Announcement • May 02
YeaShin International Development Co., Ltd. to Report Q1, 2024 Results on May 07, 2024 YeaShin International Development Co., Ltd. announced that they will report Q1, 2024 results on May 07, 2024 New Risk • Mar 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 33% 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 Large one-off items impacting financial results. Shareholders have been diluted in the past year (13% increase in shares outstanding). Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: NT$2.59 (vs NT$0.63 in FY 2022) Full year 2023 results: EPS: NT$2.59 (up from NT$0.63 in FY 2022). Revenue: NT$5.59b (up 91% from FY 2022). Net income: NT$1.23b (up 359% from FY 2022). Profit margin: 22% (up from 9.2% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Announcement • Mar 06
YeaShin International Development Co., Ltd., Annual General Meeting, May 29, 2024 YeaShin International Development Co., Ltd., Annual General Meeting, May 29, 2024. Location: No.1,Section 1, Wenhua 3rd Road, Linkou District New Taipei Taiwan Agenda: The 2023 Business report; to consider the 2023 Audit Committee report; to consider the 2023 Remuneration to Board Directors and Employees report; to consider the 2023 Fundraising Issuance report; to consider the 2024 Corporate Bond Issuance report; to consider \Amendment report on Regulations Governing Board of Directors Meeting Procedures; to consider the 2023 Annual Accounts report; to consider the 2023 Earnings Distribution report. New Risk • Sep 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.0% 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: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Dividend per share is over 9x earnings per share. Paying a dividend despite having no free cash flows. Earnings have declined by 28% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.5% net profit margin). Shareholders have been diluted in the past year (5.0% increase in shares outstanding). 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: 3.5% Last year net profit margin: 5.4% 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: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Dividend per share is over 9x earnings per share. Paying a dividend despite having no free cash flows. Earnings have declined by 28% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.5% net profit margin). Reported Earnings • Aug 12
Second quarter 2023 earnings released: NT$0.16 loss per share (vs NT$0.67 profit in 2Q 2022) Second quarter 2023 results: NT$0.16 loss per share (down from NT$0.67 profit in 2Q 2022). Revenue: NT$131.4m (down 94% from 2Q 2022). Net loss: NT$69.9m (down 129% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 19
Upcoming dividend of NT$0.65 per share at 3.0% yield Eligible shareholders must have bought the stock before 26 July 2023. Payment date: 15 August 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.0%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (4.6%). Announcement • Jul 12
YeaShin International Development Co., Ltd. Announces 2023 Adjustment to Cash Dividend Payout Ratio YeaShin International Development Co., Ltd. announced adjustment to 2023 cash dividend payout ratio. Type and monetary amount of original dividend distribution: Cash dividend TWD 309,728,801, allotment per share TWD 0.73. Type and monetary amount of dividend distribution after the change: Cash dividend TWD 309,728,801, allotment per share TWD 0.72860151. Reason for the change: The Company's CB conversion issuance had affected the number of outstanding shares and changed the payout ratio to shareholders. The Board of Directors resolved to authorize the Chairman for adjustment by ratio. Announcement • Jun 29
YeaShin International Development Co., Ltd. Announces Cash Dividend for the Year 2022, Payable on August 15, 2023 YeaShin International Development Co., Ltd. announced cash dividend of TWD 309,728,801, with TWD 0.73 per share for the year 2022. Ex-rights (Ex-dividend) date is July 26, 2023. Ex-rights (Ex-dividend) record date is August 1, 2023. Payment date of cash dividend distribution is August 15, 2023. Announcement • Jun 07
YeaShin International Development Co., Ltd. Announces Board Changes YeaShin International Development Co., Ltd. appointed Ms. Nian-Ling Yao, Representative of Shang-Yi Investment Co., Ltd. as Director; Mr. Zhen-Fong Chang as Independent Director; Mr. Yu-Jia Ding as Independent Director; Mr. Shun-Jia Lin as Independent Director and Ms. Wen-Chi Kang as Independent Director. Ms. Nian-Ling Yao is the Chairman of Purely Investments Limited. Mr. Zhen-Fong Chang, Responsible person of Chun Chang Investments Limited, President of Hua Nan Bank, Director of Taiwan Asset Management Corporation, and Director of Taiwan Small & Medium Enterprise Counseling Foundation (Taiwan SMECF). Mr. Yu-Jia Ding, Independent Director of Ablerex Electronics Co., Ltd., Arbitrator of Chinese Arbitration Association Taipei, President of IBF Financial Holdings Co., Ltd., and Chairman of IBF Securities Co., Ltd. Mr. Shun-Jia Lin, Deputy Commissioner of National Police Agency Ministry of the Interior, Commissioner of Aviation Police Bureau,National Police Agency, Ministry of the Interior, Commissioner of Changhua County Police Department, and Commissioner of Chiayi City Police Department. Ms. Wen-Chi Kang, Responsible person of Chen-Kang Enterprise Co. The company also announced the resignation of Independent Director: Mr. Chuan Hong; Independent Director: Mr. Min-Kai Chang and Independent Director: Mr. Gong-Bi Chang. Mr. Chuan Hong; the CPA of KS Certified Public Accountants. Mr. Min-Kai Chang; the CPA of Zhuo Ye Certified Public Accountant. Mr. Gong-Bi Chang; the Independent Director of CUB Elecparts Inc. All the changes effective from June 6, 2023. Reported Earnings • Mar 27
Full year 2022 earnings released: EPS: NT$0.67 (vs NT$0.67 in FY 2021) Full year 2022 results: EPS: NT$0.67. Revenue: NT$2.93b (down 3.8% from FY 2021). Net income: NT$268.5m (up 6.1% from FY 2021). Profit margin: 9.2% (up from 8.3% in FY 2021). The increase in margin was driven by lower expenses. Board Change • Nov 16
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 Min-Kai Chang was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.66 (vs NT$0.11 loss in 2Q 2021) Second quarter 2022 results: EPS: NT$0.66 (up from NT$0.11 loss in 2Q 2021). Revenue: NT$2.15b (up 288% from 2Q 2021). Net income: NT$240.5m (up NT$282.2m from 2Q 2021). Profit margin: 11% (up from net loss in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 27
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 04 July 2022. Payment date: 25 July 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 4.3%. Lower than top quartile of Taiwanese dividend payers (6.3%). Lower than average of industry peers (5.7%). Announcement • Jun 04
YeaShin International Development Co., Ltd. Declares Cash Dividend, Payable on July 25, 2022 YeaShin International Development Co., Ltd. announced the cash dividend of TWD 346,972,132, with TWD 1.0 per share. Payment date of cash dividend distribution: July 25, 2022 with Ex-rights (Ex-dividend) record date of July 10, 2022 and Ex-rights (Ex-dividend) date: July 04, 2022. Buying Opportunity • May 12
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be NT$29.38, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 56%. Buying Opportunity • Apr 27
Now 20% undervalued Over the last 90 days, the stock is up 3.5%. The fair value is estimated to be NT$29.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 56%. Reported Earnings • Mar 13
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$0.73 (down from NT$1.76 in FY 2020). Revenue: NT$3.05b (down 45% from FY 2020). Net income: NT$253.1m (down 59% from FY 2020). Profit margin: 8.3% (down from 11% in FY 2020). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Mar 04
Now 20% undervalued Over the last 90 days, the stock is up 3.1%. The fair value is estimated to be NT$29.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.1% per annum over the last 3 years. Earnings per share has grown by 8.4% per annum over the last 3 years. Announcement • Mar 04
YeaShin International Development Co., Ltd., Annual General Meeting, Jun 02, 2022 YeaShin International Development Co., Ltd., Annual General Meeting, Jun 02, 2022. Location: Number 1 Section 1, Wenhua 3rd Road Linkou District, New Taipei City, Four Points by Sheraton Linkou Taipei City Taiwan Agenda: To consider the 2021 business report; to consider the 2021 audit committee report; to consider the 2021 remuneration to board directors and employees report; to consider the 2021 fundraising and corporate bond issuance report; to consider the 2021 annual accounts report; to consider the 2021 earnings distribution report; to consider the issuance of new shares in conversion from additional paid-in capital; to consider the amendment to the Articles of Association report; and to consider other matters. Buying Opportunity • Feb 14
Now 21% undervalued Over the last 90 days, the stock is up 1.8%. The fair value is estimated to be NT$28.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.1% per annum over the last 3 years. Earnings per share has grown by 8.4% per annum over the last 3 years. Reported Earnings • Nov 15
Third quarter 2021 earnings released: NT$0.04 loss per share (vs NT$0.11 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: NT$167.9m (down 80% from 3Q 2020). Net loss: NT$13.8m (down 136% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 11
Second quarter 2021 earnings released: NT$0.12 loss per share (vs NT$0.068 loss in 2Q 2020) The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: NT$554.2m (down 30% from 2Q 2020). Net loss: NT$41.7m (loss widened 78% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 31% 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. Upcoming Dividend • Jul 21
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 28 July 2021. Payment date: 17 August 2021. Trailing yield: 8.4%. Within top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (4.7%). Reported Earnings • May 11
First quarter 2021 earnings released: EPS NT$0.83 (vs NT$0.053 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$2.22b (up 87% from 1Q 2020). Net income: NT$285.9m (up NT$304.2m from 1Q 2020). Profit margin: 13% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Reported Earnings • Mar 19
Full year 2020 earnings released: EPS NT$1.76 (vs NT$0.34 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$5.58b (up 145% from FY 2019). Net income: NT$609.4m (up 411% from FY 2019). Profit margin: 11% (up from 5.2% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 73% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Mar 18
YeaShin International Development Co., Ltd., Annual General Meeting, Jun 23, 2021 YeaShin International Development Co., Ltd., Annual General Meeting, Jun 23, 2021. Is New 90 Day High Low • Mar 01
New 90-day high: NT$17.90 The company is up 2.0% from its price of NT$17.60 on 01 December 2020. The Taiwanese market is up 16% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is down 1.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.11 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: NT$848.2m (up 7.6% from 3Q 2019). Net income: NT$38.6m (down 79% from 3Q 2019). Profit margin: 4.6% (down from 24% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 71% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 11
New 90-day high: NT$16.15 The company is up 8.0% from its price of NT$14.90 on 13 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 4.0% over the same period. Is New 90 Day High Low • Oct 05
New 90-day high: NT$15.60 The company is up 5.0% from its price of NT$14.90 on 07 July 2020. The Taiwanese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 1.0% over the same period. 
