New Risk • Jun 08
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.4% 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. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.2% net profit margin). Reported Earnings • May 16
First quarter 2026 earnings released: NT$0.012 loss per share (vs NT$0.07 profit in 1Q 2025) First quarter 2026 results: NT$0.012 loss per share (down from NT$0.07 profit in 1Q 2025). Revenue: NT$1.72b (down 19% from 1Q 2025). Net loss: NT$11.3m (down 118% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Reported Earnings • Apr 16
Full year 2025 earnings released: EPS: NT$0.69 (vs NT$2.20 in FY 2024) Full year 2025 results: EPS: NT$0.69 (down from NT$2.20 in FY 2024). Revenue: NT$11.3b (up 1.3% from FY 2024). Net income: NT$644.2m (down 66% from FY 2024). Profit margin: 5.7% (down from 17% in FY 2024). Over the last 3 years on average, earnings per share has increased by 10% 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 10
JSL Construction & Development Co., Ltd., Annual General Meeting, Jun 30, 2026 JSL Construction & Development Co., Ltd., Annual General Meeting, Jun 30, 2026, at 09:00 Taipei Standard Time. Location: 2 floor no,128, lung chiang rd., jhongshan district, taipei city Taiwan Reported Earnings • Nov 15
Third quarter 2025 earnings released: NT$0.04 loss per share (vs NT$0.53 profit in 3Q 2024) Third quarter 2025 results: NT$0.04 loss per share (down from NT$0.53 profit in 3Q 2024). Revenue: NT$2.75b (up 7.8% from 3Q 2024). Net loss: NT$36.7m (down 108% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 21% per year. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment deteriorates as stock falls 30% After last week's 30% share price decline to NT$56.80, the stock trades at a trailing P/E ratio of 27x. Average trailing P/E is 11x in the Real Estate industry in Taiwan. Total returns to shareholders of 48% over the past three years. Upcoming Dividend • Sep 23
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 30 September 2025. Payment date: 31 October 2025. The company last paid an ordinary dividend in September 2022. The average dividend yield among industry peers is 4.9%. New Risk • Sep 12
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 23% 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. Profit margins are more than 30% lower than last year (11% net profit margin). Reported Earnings • Aug 17
Second quarter 2025 earnings released: EPS: NT$0.90 (vs NT$0.88 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.90 (up from NT$0.88 in 2Q 2024). Revenue: NT$4.58b (up 75% from 2Q 2024). Net income: NT$605.3m (up 10% from 2Q 2024). Profit margin: 13% (down from 21% in 2Q 2024). 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 whereas the company’s share price has increased by 28% per year. Board Change • Jul 28
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 4 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Hsiang-Chi Hu was the last independent director to join the board, commencing their role in 2020. 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 • May 15
First quarter 2025 earnings released: EPS: NT$0.10 (vs NT$1.02 in 1Q 2024) First quarter 2025 results: EPS: NT$0.10 (down from NT$1.02 in 1Q 2024). Revenue: NT$2.12b (down 8.8% from 1Q 2024). Net income: NT$61.6m (down 90% from 1Q 2024). Profit margin: 2.9% (down from 26% in 1Q 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Announcement • May 01
JSL Construction & Development Co., Ltd. to Report Q1, 2025 Results on May 12, 2025 JSL Construction & Development Co., Ltd. announced that they will report Q1, 2025 results on May 12, 2025 Announcement • Apr 22
JSL Construction & Development Co., Ltd. Announces Cash Dividend for the Year Ended December 31, 2024 JSL Construction & Development Co., Ltd. announced Appropriations of earnings in cash dividends to shareholders of TWD 0.4 per share and Cash distributed from legal reserve and capital surplus to shareholders of TWD 0.6 per share for the year ended December 31, 2024. Total amount of cash distributed to shareholders is TWD 674,909,975. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$84.90, the stock trades at a trailing P/E ratio of 27.9x. Average trailing P/E is 12x in the Real Estate industry in Taiwan. Total returns to shareholders of 138% over the past three years. Announcement • Apr 01
JSL Construction & Development Co., Ltd. Appoints Guo,Yu-Fu as Independent Director, Effective from March 31, 2025 JSL Construction & Development Co., Ltd. appointed GUO,YU-FU, General Manager of Marketing and Planning Department,LION TRAVEL SERVICE CO., LTD., as Independent director. Reason for the change: Supplementary election of an independent director. Effective date of the new appointment:2025/03/31. Reported Earnings • Apr 01
Full year 2024 earnings released: EPS: NT$3.07 (vs NT$2.61 in FY 2023) Full year 2024 results: EPS: NT$3.07 (up from NT$2.61 in FY 2023). Revenue: NT$11.2b (up 38% from FY 2023). Net income: NT$1.90b (up 26% from FY 2023). Profit margin: 17% (down from 19% 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 35% per year whereas the company’s share price has increased by 31% per year. Announcement • Apr 01
JSL Construction & Development Co., Ltd. Appoints Guo,Yu-Fu as Member of Audit Committee, Effective from March 31, 2025 JSL Construction & Development Co., Ltd. announced the change of members from the Company's Audit Committee. Name of the new position holder: GUO,YU-FU, General Manager of Marketing and Planning Department,LION TRAVEL SERVICE CO., LTD. Effective date of the new member:2025/03/31. Announcement • Mar 11
JSL Construction & Development Co., Ltd., Annual General Meeting, Jun 30, 2025 JSL Construction & Development Co., Ltd., Annual General Meeting, Jun 30, 2025. Location: 2 floor no,128, lung chiang rd., jhongshan district, taipei city Taiwan Announcement • Feb 27
JSL Construction & Development Co., Ltd. to Report Fiscal Year 2024 Results on Mar 10, 2025 JSL Construction & Development Co., Ltd. announced that they will report fiscal year 2024 results on Mar 10, 2025 Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: NT$0.73 (vs NT$0.48 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.73 (up from NT$0.48 in 3Q 2023). Revenue: NT$2.55b (up 33% from 3Q 2023). Net income: NT$453.3m (up 63% from 3Q 2023). Profit margin: 18% (up from 14% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 58% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 16
JSL Construction & Development Co., Ltd. Announces Change of the Legal Representative JSL Construction & Development Co., Ltd. announced of the change of the company's legal representative. Name of legal person:Fengyun Advertising Co.,Ltd. 3.Name of the previous position holder:Ching-Tsai Chang. Resume of the previous position holder:General Manager of JSL CONSTRUCTION & DEVELOPMENT CO., LTD. Name of the new position holder:WANG,A-ZHENG. Resume of the new position holder:Vice President of Finance, Jaysanlyn Construction Co., Ltd. Reason for the change:Reassignment of legal representative. Effective date of the new appointment is November 15, 2024. Announcement • Nov 13
JSL Construction & Development Co., Ltd. has filed a Follow-on Equity Offering. JSL Construction & Development Co., Ltd. has filed a Follow-on Equity Offering.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 7,500,000
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 5,000,000
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 37,500,000
Transaction Features: Reserved Share Offering Announcement • Nov 12
JSL Construction & Development Co., Ltd. announced that it expects to receive TWD 500 million in funding JSL Construction & Development Co., Ltd. announced a private placement to issue 50,000,000 common shares at an issue price of TWD 10 per share for the gross proceeds of TWD 500,000,000 on November 11, 2024. The transaction has been approved by shareholders. Announcement • Oct 26
JSL Construction & Development Co., Ltd. to Report Q3, 2024 Results on Nov 11, 2024 JSL Construction & Development Co., Ltd. announced that they will report Q3, 2024 results on Nov 11, 2024 Upcoming Dividend • Sep 05
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 12 September 2024. Payment date: 18 October 2024. Payout ratio is a comfortable 41% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of Taiwanese dividend payers (4.4%). Lower than average of industry peers (2.8%). Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$1.32 (vs NT$0.78 in 2Q 2023) Second quarter 2024 results: EPS: NT$1.32 (up from NT$0.78 in 2Q 2023). Revenue: NT$2.62b (up 31% from 2Q 2023). Net income: NT$548.8m (up 81% from 2Q 2023). Profit margin: 21% (up from 15% in 2Q 2023). 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 increased by 91% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Aug 14
Dividend of NT$1.50 announced Shareholders will receive a dividend of NT$1.50. Ex-date: 12th September 2024 Payment date: 18th October 2024 Dividend yield will be 0.8%, which is lower than the industry average of 3.7%. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$167, the stock trades at a trailing P/E ratio of 35.3x. Average trailing P/E is 20x in the Real Estate industry in Taiwan. Total returns to shareholders of 483% over the past three years. New Risk • Aug 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.7% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. 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). Share price has been highly volatile over the past 3 months (8.7% average weekly change). High level of non-cash earnings (28% accrual ratio). Minor Risk Shareholders have been diluted in the past year (6.4% increase in shares outstanding). Announcement • Aug 02
JSL Construction & Development Co., Ltd. to Report Q2, 2024 Results on Aug 12, 2024 JSL Construction & Development Co., Ltd. announced that they will report Q2, 2024 results on Aug 12, 2024 Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$220, the stock trades at a trailing P/E ratio of 46.4x. Average trailing P/E is 22x in the Real Estate industry in Taiwan. Total returns to shareholders of 714% over the past three years. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$186, the stock trades at a trailing P/E ratio of 39.3x. Average trailing P/E is 22x in the Real Estate industry in Taiwan. Total returns to shareholders of 598% over the past three years. Reported Earnings • May 18
First quarter 2024 earnings released: EPS: NT$1.53 (vs NT$0.39 in 1Q 2023) First quarter 2024 results: EPS: NT$1.53 (up from NT$0.39 in 1Q 2023). Revenue: NT$2.33b (up 55% from 1Q 2023). Net income: NT$600.9m (up 333% from 1Q 2023). Profit margin: 26% (up from 9.3% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 77% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$169, the stock trades at a trailing P/E ratio of 46.7x. Average trailing P/E is 25x in the Real Estate industry in Taiwan. Total returns to shareholders of 477% over the past three years. Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$119, the stock trades at a trailing P/E ratio of 32.9x. Average trailing P/E is 21x in the Real Estate industry in Taiwan. Total returns to shareholders of 330% over the past three years. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$106, the stock trades at a trailing P/E ratio of 29.2x. Average trailing P/E is 20x in the Real Estate industry in Taiwan. Total returns to shareholders of 290% over the past three years. New Risk • Mar 31
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.4% 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). High level of non-cash earnings (24% accrual ratio). Minor Risk Shareholders have been diluted in the past year (6.4% increase in shares outstanding). Reported Earnings • Mar 26
Full year 2023 earnings released: EPS: NT$3.91 (vs NT$1.24 in FY 2022) Full year 2023 results: EPS: NT$3.91 (up from NT$1.24 in FY 2022). Revenue: NT$8.10b (up 71% from FY 2022). Net income: NT$1.51b (up 239% from FY 2022). Profit margin: 19% (up from 9.4% 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 1% per year but the company’s share price has increased by 48% per year, which means it is well ahead of earnings. Announcement • Mar 16
JSL Construction & Development Co., Ltd., Annual General Meeting, Jun 28, 2024 JSL Construction & Development Co., Ltd., Annual General Meeting, Jun 28, 2024. Location: B2F., No.60, Xing'an St., Zhongshan Dist., Taipei City , Taiwan (R.O.C.) Taipei City Taiwan Agenda: To consider The 2023 business report; The 2023 audited report of the settled books by the Audit committee; The status report of the 2023 remuneration distributed to employees and directors; Report on remuneration paid to directors of 2023; The reports of guarantee by endorsement; Corporate Bond-secured (none) reporting; Other reporting details; and to discuss other matters. New Risk • Nov 15
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 5.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. 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). High level of non-cash earnings (27% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (5.6% average weekly change). Shareholders have been diluted in the past year (9.0% increase in shares outstanding). Announcement • Nov 11
JSL Construction & Development Co., Ltd. has filed a Follow-on Equity Offering. JSL Construction & Development Co., Ltd. has filed a Follow-on Equity Offering.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 20,000,000
Transaction Features: Rights Offering Valuation Update With 7 Day Price Move • Sep 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$81.70, the stock trades at a trailing P/E ratio of 41.1x. Average trailing P/E is 18x in the Real Estate industry in Taiwan. Total returns to shareholders of 239% over the past three years. Upcoming Dividend • Sep 06
Upcoming dividend of NT$1.50 per share at 2.2% yield Eligible shareholders must have bought the stock before 13 September 2023. Payment date: 17 October 2023. Payout ratio is a comfortable 68% but the company is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.4%). Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: NT$1.05 (vs NT$0.18 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.05 (up from NT$0.18 in 2Q 2022). Revenue: NT$2.00b (up 99% from 2Q 2022). Net income: NT$304.1m (up NT$254.8m from 2Q 2022). Profit margin: 15% (up from 4.9% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 62% per year, which means it is well ahead of earnings. Announcement • Jul 01
JSL Construction & Development Co., Ltd. Approves the Board Changes JSL Construction & Development Co., Ltd. approved the election of the board of directors. The company appointed Chu Yi, a Representative of Yangshanlin Advertising Co., Ltd. as director in the place of Mao-Yen Hsu, a Representative of Yi-Feng International Development Co., Ltd. Effective date of the new appointment is June 30, 2023. Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: NT$1.67 (vs NT$4.26 in FY 2021) Full year 2022 results: EPS: NT$1.67 (down from NT$4.26 in FY 2021). Revenue: NT$4.73b (down 14% from FY 2021). Net income: NT$444.6m (down 61% from FY 2021). Profit margin: 9.4% (down from 21% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 101% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment improved over the past week After last week's 20% share price gain to NT$85.20, the stock trades at a trailing P/E ratio of 27.4x. Average trailing P/E is 13x in the Real Estate industry in Taiwan. Total returns to shareholders of 502% over the past three years. 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. 2 experienced directors. 5 highly experienced directors. No independent directors (5 non-independent directors). General Manager and Director Jingzai Zhang was the last director to join the board, commencing their role in 2013. 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 13
Third quarter 2022 earnings released: EPS: NT$0.16 (vs NT$0.49 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.16 (down from NT$0.49 in 3Q 2021). Revenue: NT$1.17b (up 4.8% from 3Q 2021). Net income: NT$41.5m (down 68% from 3Q 2021). Profit margin: 3.6% (down from 12% 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 40% per year but the company’s share price has increased by 78% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$79.50, the stock trades at a trailing P/E ratio of 23.1x. Average trailing P/E is 12x in the Real Estate industry in Taiwan. Total returns to shareholders of 522% over the past three years. Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment improved over the past week After last week's 34% share price gain to NT$95.50, the stock trades at a trailing P/E ratio of 27.7x. Average trailing P/E is 12x in the Real Estate industry in Taiwan. Total returns to shareholders of 682% over the past three years. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment deteriorated over the past week After last week's 20% share price decline to NT$72.80, the stock trades at a trailing P/E ratio of 21.1x. Average trailing P/E is 13x in the Real Estate industry in Taiwan. Total returns to shareholders of 513% over the past three years. Upcoming Dividend • Sep 12
Upcoming dividend of NT$3.50 per share Eligible shareholders must have bought the stock before 19 September 2022. Payment date: 21 October 2022. Trailing yield: 2.5%. Lower than top quartile of Taiwanese dividend payers (6.6%). Lower than average of industry peers (6.1%). Reported Earnings • Aug 18
Second quarter 2022 earnings released: EPS: NT$0.31 (vs NT$0.30 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.31 (up from NT$0.30 in 2Q 2021). Revenue: NT$1.00b (down 5.7% from 2Q 2021). Net income: NT$49.4m (up 1.9% from 2Q 2021). Profit margin: 4.9% (up from 4.6% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has increased by 79% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.37 (vs NT$1.72 in 1Q 2021) First quarter 2022 results: EPS: NT$0.37 (down from NT$1.72 in 1Q 2021). Revenue: NT$1.12b (down 7.0% from 1Q 2021). Net income: NT$59.9m (down 78% from 1Q 2021). Profit margin: 5.4% (down from 23% in 1Q 2021). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 64% per year whereas the company’s share price has increased by 69% per year. 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). General Manager and Director Jingzai Zhang was the last director to join the board, commencing their role in 2013. 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 • Apr 01
Full year 2021 earnings released: EPS: NT$7.02 (vs NT$5.62 in FY 2020) Full year 2021 results: EPS: NT$7.02 (up from NT$5.62 in FY 2020). Revenue: NT$5.52b (up 16% from FY 2020). Net income: NT$1.13b (up 25% from FY 2020). Profit margin: 21% (up from 19% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 71% per year whereas the company’s share price has increased by 76% per year. Announcement • Mar 23
JSL Construction & Development Co., Ltd., Annual General Meeting, Jun 30, 2022 JSL Construction & Development Co., Ltd., Annual General Meeting, Jun 30, 2022. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 34% share price gain to NT$125, the stock trades at a trailing P/E ratio of 24.9x. Average trailing P/E is 12x in the Real Estate industry in Taiwan. Total returns to shareholders of 439% over the past three years. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS NT$0.81 (vs NT$1.66 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.11b (down 31% from 3Q 2020). Net income: NT$130.8m (down 51% from 3Q 2020). Profit margin: 12% (down from 17% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 54% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Oct 19
Inaugural dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 26 October 2021. Payment date: 30 November 2021. This is the first dividend for JSL Construction & Development since going public. The average dividend yield among industry peers is 4.5%. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$0.33 (vs NT$0.99 in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$1.06b (up 33% from 2Q 2020). Net income: NT$48.4m (down 67% from 2Q 2020). Profit margin: 4.6% (down from 18% 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 79% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$1.89 (vs NT$0.96 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.20b (up 49% from 1Q 2020). Net income: NT$276.8m (up 97% from 1Q 2020). Profit margin: 23% (up from 17% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$66.70, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 12x in the Real Estate industry in Taiwan. Total returns to shareholders of 80% over the past three years. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improved over the past week After last week's 15% share price gain to NT$79.70, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 14x in the Real Estate industry in Taiwan. Total returns to shareholders of 166% over the past three years. Reported Earnings • Apr 01
Full year 2020 earnings released: EPS NT$6.18 (vs NT$1.38 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$4.78b (up 115% from FY 2019). Net income: NT$906.1m (up 347% from FY 2019). Profit margin: 19% (up from 9.1% in FY 2019). 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 33% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 14
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$69.00, the stock is trading at a trailing P/E ratio of 15.4x, down from the previous P/E ratio of 18.2x. This compares to an average P/E of 16x in the Real Estate industry in Taiwan. Total returns to shareholders over the past three years are 223%. Valuation Update With 7 Day Price Move • Dec 07
Market bids up stock over the past week After last week's 19% share price gain to NT$81.50, the stock is trading at a trailing P/E ratio of 18.2x, up from the previous P/E ratio of 15.3x. This compares to an average P/E of 17x in the Real Estate industry in Taiwan. Total returns to shareholders over the past three years are 279%. Is New 90 Day High Low • Dec 04
New 90-day high: NT$75.70 The company is up 50% from its price of NT$50.30 on 04 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 5.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$1.83 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.62b (up 200% from 3Q 2019). Net income: NT$267.8m (up NT$229.3m from 3Q 2019). Profit margin: 17% (up from 7.1% 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 70% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth.