Reported Earnings • Jul 29
Second quarter 2026 earnings released: NT$0.03 loss per share (vs NT$0.024 loss in 2Q 2025) Second quarter 2026 results: NT$0.03 loss per share (further deteriorated from NT$0.024 loss in 2Q 2025). Net loss: NT$4.87m (loss widened 32% from 2Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 113 percentage points per year, which is a significant difference in performance. Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Director Yan-Wen Li was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Apr 30
First quarter 2026 earnings released First quarter 2026 results: Net loss: NT$6.39m (loss widened 91% from 1Q 2025). New Risk • Mar 23
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain 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: 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. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 32% per year over the past 5 years. Revenue is less than US$1m (NT$5.2m revenue, or US$163k). Reported Earnings • Mar 14
Full year 2025 earnings released: NT$0.09 loss per share (vs NT$0.55 profit in FY 2024) Full year 2025 results: NT$0.09 loss per share (down from NT$0.55 profit in FY 2024). Net loss: NT$13.9m (down 117% from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Announcement • Mar 04
Fong-Chien Construction Co.,LTD., Annual General Meeting, May 26, 2026 Fong-Chien Construction Co.,LTD., Annual General Meeting, May 26, 2026. Location: 10- floor no,501, t`ai wan ta tao, west district, taichung city Taiwan New Risk • Oct 30
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. 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). Earnings have declined by 21% per year over the past 5 years. Revenue is less than US$1m (NT$8.3m revenue, or US$269k). Reported Earnings • Oct 30
Third quarter 2025 earnings released: NT$0.03 loss per share (vs NT$0.004 profit in 3Q 2024) Third quarter 2025 results: NT$0.03 loss per share (down from NT$0.004 profit in 3Q 2024). Net loss: NT$4.92m (down NT$5.62m from profit in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • Aug 10
Second quarter 2025 earnings released: NT$0.02 loss per share (vs NT$0.089 loss in 2Q 2024) Second quarter 2025 results: NT$0.02 loss per share (improved from NT$0.089 loss in 2Q 2024). Net loss: NT$3.68m (loss narrowed 73% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. New Risk • Aug 05
New major risk - Revenue and earnings growth Earnings have declined by 9.8% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 9.8% per year over the past 5 years. Revenue is less than US$1m (NT$7.1m revenue, or US$236k). Upcoming Dividend • Jun 04
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 11 June 2025. Payment date: 10 July 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.9%). Reported Earnings • May 08
First quarter 2025 earnings released: NT$0.02 loss per share (vs NT$0.61 profit in 1Q 2024) First quarter 2025 results: NT$0.02 loss per share (down from NT$0.61 profit in 1Q 2024). Net loss: NT$3.35m (down 103% from profit in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Declared Dividend • May 08
Dividend of NT$0.50 announced Shareholders will receive a dividend of NT$0.50. Ex-date: 11th June 2025 Payment date: 10th July 2025 Dividend yield will be 1.6%, which is lower than the industry average of 3.7%. Sustainability & Growth Dividend is not adequately covered by earnings (92% 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 increased by an average of 14% per year over the past 7 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 1.7% to bring the payout ratio under control. However, EPS has remained steady over the last 5 years so the company would need to improve on their historical growth rates. Reported Earnings • Mar 08
Full year 2024 earnings released: EPS: NT$0.55 (vs NT$3.73 in FY 2023) Full year 2024 results: EPS: NT$0.55 (down from NT$3.73 in FY 2023). Revenue: NT$512.8m (down 85% from FY 2023). Net income: NT$84.7m (down 85% from FY 2023). Profit margin: 17% (in line with FY 2023). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Feb 27
Fong-Chien Construction Co.,LTD., Annual General Meeting, May 28, 2025 Fong-Chien Construction Co.,LTD., Annual General Meeting, May 28, 2025, at 10:30 Taipei Standard Time. Location: 10- floor no,501, t`ai wan ta tao, west district, taichung city Taiwan Announcement • Feb 18
Fong-Chien Construction Co.,LTD. to Report Q4, 2024 Results on Feb 25, 2025 Fong-Chien Construction Co.,LTD. announced that they will report Q4, 2024 results on Feb 25, 2025 New Risk • Dec 16
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. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Nov 05
Third quarter 2024 earnings released: EPS: NT$0.005 (vs NT$0.13 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.005 (down from NT$0.13 in 3Q 2023). Revenue: NT$688.0k (down 100% from 3Q 2023). Net income: NT$695.0k (down 97% from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Oct 22
Fong-Chien Construction Co.,LTD. to Report Q3, 2024 Results on Oct 29, 2024 Fong-Chien Construction Co.,LTD. announced that they will report Q3, 2024 results on Oct 29, 2024 Reported Earnings • Aug 02
Second quarter 2024 earnings released: NT$0.09 loss per share (vs NT$1.53 profit in 2Q 2023) Second quarter 2024 results: NT$0.09 loss per share (down from NT$1.53 profit in 2Q 2023). Revenue: NT$2.45m (down 100% from 2Q 2023). Net loss: NT$13.8m (down 106% from profit in 2Q 2023). 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. Announcement • Jul 23
Fong-Chien Construction Co.,LTD. to Report Q2, 2024 Results on Jul 30, 2024 Fong-Chien Construction Co.,LTD. announced that they will report Q2, 2024 results on Jul 30, 2024 Upcoming Dividend • May 31
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 06 June 2024. Payment date: 05 July 2024. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 4.9%. Within top quartile of Taiwanese dividend payers (4.3%). Higher than average of industry peers (2.7%). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.61 (vs NT$1.13 in 1Q 2023) First quarter 2024 results: EPS: NT$0.61 (down from NT$1.13 in 1Q 2023). Revenue: NT$505.6m (down 46% from 1Q 2023). Net income: NT$95.1m (down 46% from 1Q 2023). Profit margin: 19% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Declared Dividend • May 17
Dividend of NT$1.50 announced Dividend of NT$1.50 is the same as last year. Ex-date: 6th June 2024 Payment date: 5th July 2024 Dividend yield will be 4.9%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has increased by an average of 40% per year over the past 6 years. However, payments have been volatile during that time. Earnings per share has grown by 37% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 14
Full year 2023 earnings released: EPS: NT$3.73 (vs NT$3.03 in FY 2022) Full year 2023 results: EPS: NT$3.73 (up from NT$3.03 in FY 2022). Revenue: NT$3.33b (up NT$3.11b from FY 2022). Net income: NT$578.5m (up 23% from FY 2022). Profit margin: 17% (down from 216% in FY 2022). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 06
Fong-Chien Construction Co.,LTD., Annual General Meeting, May 29, 2024 Fong-Chien Construction Co.,LTD., Annual General Meeting, May 29, 2024. Location: 10F-2, No. 501, Section 2, Taiwan Blvd West District, Taichung City (Meeting Room) Taichung City Taiwan Agenda: To consider business report for the year 2023; to consider the audit committee audit report for the year 2023; to consider report on the distribution of cash dividends from 2023 profits; to consider the appropriation report for directors' compensation and employees' compensation for the year 2023; to consider the company's annual business report and financial statements for the year 2023; and to consider other issues. New Risk • Nov 17
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 759% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (18% net profit margin). New Risk • Aug 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 843% 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: Minor Risks Dividend is not well covered by earnings (121% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (19% net profit margin). Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: NT$1.53 (vs NT$0.019 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.53 (up from NT$0.019 in 2Q 2022). Revenue: NT$1.22b (up NT$1.09b from 2Q 2022). Net income: NT$237.8m (up NT$234.9m from 2Q 2022). Profit margin: 20% (up from 2.3% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. New Risk • Jul 19
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 121% The company is paying a dividend despite having no free cash flows. Dividend yield: 6.0% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain 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: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 121% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (17% net profit margin). Upcoming Dividend • May 25
Upcoming dividend of NT$1.50 per share at 5.7% yield Eligible shareholders must have bought the stock before 01 June 2023. Payment date: 05 July 2023. Payout ratio is a comfortable 50% but the company is not cash flow positive. Trailing yield: 5.7%. Within top quartile of Taiwanese dividend payers (5.7%). In line with average of industry peers (5.3%). Reported Earnings • Mar 21
Full year 2022 earnings released: EPS: NT$3.03 (vs NT$5.91 in FY 2021) Full year 2022 results: EPS: NT$3.03 (down from NT$5.91 in FY 2021). Net income: NT$469.6m (down 49% from FY 2021). Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 6 highly experienced directors. No independent directors (5 non-independent directors). Director Chun Fang Liu was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 12
Third quarter 2022 earnings released: EPS: NT$0.17 (vs NT$3.79 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.17 (down from NT$3.79 in 3Q 2021). Revenue: NT$45.1m (down 95% from 3Q 2021). Net income: NT$26.1m (down 96% from 3Q 2021). Profit margin: 58% (down from 70% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 05
Second quarter 2022 earnings released: EPS: NT$0.02 (vs NT$1.66 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.02 (down from NT$1.66 in 2Q 2021). Revenue: NT$126.2m (down 92% from 2Q 2021). Net income: NT$2.90m (down 99% from 2Q 2021). Profit margin: 2.3% (down from 16% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 12
Upcoming dividend of NT$1.80 per share Eligible shareholders must have bought the stock before 19 July 2022. Payment date: 18 August 2022. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 6.4%. Lower than top quartile of Taiwanese dividend payers (6.7%). In line with average of industry peers (6.0%). Reported Earnings • May 06
First quarter 2022 earnings released: EPS: NT$2.92 (vs NT$0.35 in 1Q 2021) First quarter 2022 results: EPS: NT$2.92 (up from NT$0.35 in 1Q 2021). Revenue: NT$44.2m (down 91% from 1Q 2021). Net income: NT$453.4m (up NT$398.6m from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 118% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
No independent directors 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. 5 highly experienced directors. No independent directors (5 non-independent directors). Director Chun Fang Liu was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Mar 19
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$5.91 (up from NT$0.33 in FY 2020). Revenue: NT$3.06b (up 364% from FY 2020). Net income: NT$916.4m (up NT$865.9m from FY 2020). Profit margin: 30% (up from 7.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$3.79 (vs NT$0.25 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$834.1m (up 420% from 3Q 2020). Net income: NT$587.1m (up NT$548.1m from 3Q 2020). Profit margin: 70% (up from 24% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 49% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 06
Second quarter 2021 earnings released: EPS NT$1.66 (vs NT$0.096 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.57b (up NT$1.55b from 2Q 2020). Net income: NT$256.6m (up NT$271.5m from 2Q 2020). Profit margin: 16% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 08
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 15 July 2021. Payment date: 10 August 2021. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (5.0%). Lower than average of industry peers (4.9%). Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$27.60, the stock trades at a trailing P/E ratio of 36.3x. Average trailing P/E is 12x in the Real Estate industry in Taiwan. Total returns to shareholders of 184% over the past three years. Reported Earnings • May 06
First quarter 2021 earnings released: EPS NT$0.35 (vs NT$0.088 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$515.8m (up NT$500.6m from 1Q 2020). Net income: NT$54.7m (up NT$68.4m from 1Q 2020). Profit margin: 11% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 109 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 18
Full year 2020 earnings released: EPS NT$0.33 (vs NT$0.18 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: NT$660.4m (up 185% from FY 2019). Net income: NT$50.6m (up 81% from FY 2019). Profit margin: 7.7% (down from 12% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 83% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 27
New 90-day high: NT$18.55 The company is up 5.0% from its price of NT$17.60 on 27 November 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is flat over the same period. Is New 90 Day High Low • Nov 20
New 90-day high: NT$16.35 The company is up 26% from its price of NT$12.95 on 21 August 2020. The Taiwanese market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 3.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.25 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$160.3m (up 90% from 3Q 2019). Net income: NT$39.0m (up 477% from 3Q 2019). Profit margin: 24% (up from 8.0% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 79% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Oct 06
New 90-day high: NT$14.05 The company is up 22% from its price of NT$11.50 on 08 July 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 2.0% over the same period. 
