Reported Earnings • May 15
First quarter 2026 earnings released: NT$0.39 loss per share (vs NT$0.79 loss in 1Q 2025) First quarter 2026 results: NT$0.39 loss per share (improved from NT$0.79 loss in 1Q 2025). Revenue: NT$9.59b (up 7.1% from 1Q 2025). Net loss: NT$79.7m (loss narrowed 46% from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 21% per year. Announcement • Mar 06
PChome Online Inc., Annual General Meeting, Jun 17, 2026 PChome Online Inc., Annual General Meeting, Jun 17, 2026. Location: no,11, chung shan s. rd., jhongjheng district, taipei city Taiwan New Risk • Mar 06
New major risk - Revenue and earnings growth Earnings have declined by 60% 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 Risk Earnings have declined by 60% per year over the past 5 years. Minor Risk Currently unprofitable and not forecast to become profitable next year (NT$362m net loss next year). Price Target Changed • Nov 14
Price target decreased by 32% to NT$32.00 Down from NT$47.00, the current price target is provided by 1 analyst. New target price is 6.3% above last closing price of NT$30.10. Stock is down 46% over the past year. The company is forecast to post a net loss per share of NT$3.53 next year compared to a net loss per share of NT$4.08 last year. Reported Earnings • Nov 13
Third quarter 2025 earnings released: NT$0.66 loss per share (vs NT$1.21 loss in 3Q 2024) Third quarter 2025 results: NT$0.66 loss per share (improved from NT$1.21 loss in 3Q 2024). Revenue: NT$8.53b (up 1.0% from 3Q 2024). Net loss: NT$134.1m (loss narrowed 22% from 3Q 2024). Revenue is expected to decline by 5.3% p.a. on average during the next 2 years, while revenues in the Multiline Retail industry in Asia are expected to grow by 7.0%. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 07
Second quarter 2025 earnings released: NT$1.10 loss per share (vs NT$0.75 loss in 2Q 2024) Second quarter 2025 results: NT$1.10 loss per share (further deteriorated from NT$0.75 loss in 2Q 2024). Revenue: NT$8.40b (flat on 2Q 2024). Net loss: NT$222.2m (loss widened 111% from 2Q 2024). Revenue is expected to decline by 4.7% p.a. on average during the next 2 years, while revenues in the Multiline Retail industry in Asia are expected to grow by 7.0%. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Announcement • Jun 26
PChome Online Inc. Announces Board Appointments, Effective June 25, 2025 PChome Online Inc. announced the board appointments. Title and name of the new position holder: Director: Lin Chen-Te: Uni-President Enterprises Corp. Director: Hu, Chang-Hsi: Uni-President Enterprises Corp. Resume of the new position holder: Lin Chen-Te: President Chain Store Corporation, Head of digital business development center. Hu, Chang-Hsi: President Chain Store Corporation, Chief Logistics Officer. Reason for the change: Annual shareholders meeting Annual shareholders meeting by-election. Effective date of the new appointment is on June 25, 2025. Reported Earnings • May 08
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: NT$0.79 loss per share (further deteriorated from NT$0.54 loss in 1Q 2024). Revenue: NT$8.95b (down 7.3% from 1Q 2024). Net loss: NT$147.7m (loss widened 95% from 1Q 2024). Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 25%. Revenue is expected to decline by 4.3% p.a. on average during the next 2 years, while revenues in the Multiline Retail industry in Asia are expected to grow by 7.5%. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Announcement • Apr 08
Pchome Online Inc. Announces Board Resignations On April 7, 2025, PChome Online Inc. announced resignation of Alice Chang and Bruce Chou as directors of the company. Resume of the previous position holder: Alice Chang: PChome Online Inc., Chief Executive Officer. Bruce Chou: PChome Online Inc., Chief Financial Officer. Reason for the change: In response to board member adjustments and corporate governance needs. To uphold shareholder rights and corporate governance planning, the company intends to adjust board seats in accordance with the private placement subscription agreement. The company received the letter of resignation from Ms. Alice Chang and Mr. Bruce Chou on March 17, 2025. The company expects to elect directors by-election at the latest shareholders' meeting and plans to nominate Uni-President Enterprises Corporation as a candidate per the private placement subscription agreement. Following the by-election, the current institutional director, Site Inc., will reassign its representatives. Announcement • Apr 01
PChome Online Inc. Announces Resignation of Bruce Chou as CFO, Effective March 31, 2025 PChome Online Inc. announced that in response to the group's organizational adjustments and to enhance subsidiary operations, financial management and corporate governance, Mr. Bruce Chou will resign from the positions of CFO and spokesperson of the Company to fully assume the position of Chief Financial Officer at 21st Financial Technology Co. Ltd., a subsidiary of the Company. This personnel change is an internal adjustment and does not affect the company's financial and other operations. Effective date is March 31, 2025. Announcement • Mar 26
PChome Online Inc., Annual General Meeting, Jun 25, 2025 PChome Online Inc., Annual General Meeting, Jun 25, 2025. Location: no,11, chung shan s. rd., jhongjheng district, taipei city Taiwan New Risk • Mar 16
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 3.8% 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 (3.8% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (44% increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (6.4% average weekly change). Reported Earnings • Mar 14
Full year 2024 earnings released: NT$4.08 loss per share (vs NT$5.01 loss in FY 2023) Full year 2024 results: NT$4.08 loss per share (improved from NT$5.01 loss in FY 2023). Revenue: NT$37.6b (down 8.5% from FY 2023). Net loss: NT$576.3m (loss narrowed 13% from FY 2023). Revenue is expected to decline by 4.8% p.a. on average during the next 2 years, while revenues in the Multiline Retail industry in Asia are expected to grow by 7.7%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance. Announcement • Mar 05
PChome Online Inc. to Report Q4, 2024 Results on Mar 12, 2025 PChome Online Inc. announced that they will report Q4, 2024 results on Mar 12, 2025 New Risk • Feb 22
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 45% This is considered a major 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 Earnings have declined by 69% per year over the past 5 years. Shareholders have been substantially diluted in the past year (45% increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (6.5% average weekly change). New Risk • Feb 02
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 43% This is considered a major 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 Share price has been highly volatile over the past 3 months (9.1% average weekly change). Earnings have declined by 69% per year over the past 5 years. Shareholders have been substantially diluted in the past year (43% increase in shares outstanding). Announcement • Jan 23
PChome Online Inc. announced that it has received TWD 2.4677648 billion in funding from Uni-President Enterprises Corp. On January 22, 2025, PChome Online Inc. closed the transaction. The transaction has been approved by shareholders of company. New Risk • Nov 15
New major risk - Revenue and earnings growth Earnings have declined by 69% 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 Risk Earnings have declined by 69% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Price Target Changed • Nov 14
Price target increased by 20% to NT$49.00 Up from NT$41.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of NT$50.50. Stock is up 15% over the past year. The company is forecast to post a net loss per share of NT$3.93 next year compared to a net loss per share of NT$5.01 last year. Reported Earnings • Nov 14
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: NT$1.21 loss per share (further deteriorated from NT$1.16 loss in 3Q 2023). Revenue: NT$8.45b (down 13% from 3Q 2023). Net loss: NT$171.0m (loss widened 10% from 3Q 2023). Revenue missed analyst estimates by 11%. Earnings per share (EPS) exceeded analyst estimates by 15%. Revenue is expected to decline by 7.3% p.a. on average during the next 2 years, while revenues in the Multiline Retail industry in Asia are expected to grow by 8.3%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. New Risk • Nov 06
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 6.9% 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 Earnings are forecast to decline by an average of 5.8% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Shareholders have been diluted in the past year (16% increase in shares outstanding). Announcement • Nov 06
PChome Online Inc. to Report Q3, 2024 Results on Nov 13, 2024 PChome Online Inc. announced that they will report Q3, 2024 results on Nov 13, 2024 Announcement • Oct 25
PChome Online Inc. announced that it expects to receive funding from Uni-President Enterprises Corp. PChome Online Inc. announced a private placement of 61,694,120 common shares on October 23, 2024. The transaction will include participation from new investor Uni-President Enterprises Corp. New Risk • Aug 16
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 13% 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 Risk Earnings are forecast to decline by an average of 5.8% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (13% increase in shares outstanding). Reported Earnings • Aug 15
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: NT$0.75 loss per share (further deteriorated from NT$0.69 loss in 2Q 2023). Revenue: NT$8.45b (down 6.3% from 2Q 2023). Net loss: NT$105.5m (loss widened 22% from 2Q 2023). Revenue missed analyst estimates by 7.8%. Earnings per share (EPS) exceeded analyst estimates by 18%. Revenue is forecast to grow 1.4% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Multiline Retail industry in Asia. 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. Announcement • Aug 06
PChome Online Inc. to Report Q2, 2024 Results on Aug 13, 2024 PChome Online Inc. announced that they will report Q2, 2024 results on Aug 13, 2024 Reported Earnings • May 07
First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2024 results: NT$0.54 loss per share (improved from NT$0.96 loss in 1Q 2023). Revenue: NT$9.65b (down 5.0% from 1Q 2023). Net loss: NT$75.7m (loss narrowed 37% from 1Q 2023). Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) exceeded analyst estimates by 55%. Revenue is forecast to stay flat during the next 2 years compared to a 8.4% growth forecast for the Multiline Retail industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Announcement • Mar 20
PChome Online Inc., Annual General Meeting, Jun 19, 2024 PChome Online Inc., Annual General Meeting, Jun 19, 2024. Location: No11 Zhongshan South Road CHANG YUNG-FA FOUNDATION International Convention Center Room1002 Taipei Taiwan Agenda: To consider 2023 business report; to consider audit Committee's review of the 2023 annual final accounting books and statements of the Company's common stocks and procedure for Transfer to Employees; to consider acknowledgment of the 2023 annual final accounting books and statements; to consider acknowledgment of the 2023 appropriation of profit or loss; and to transact other business. Reported Earnings • Feb 29
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: NT$5.01 loss per share (further deteriorated from NT$0.42 loss in FY 2022). Revenue: NT$41.1b (down 11% from FY 2022). Net loss: NT$659.9m (loss widened NT$607.1m from FY 2022). Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 96%. Revenue is forecast to stay flat during the next 2 years compared to a 8.8% growth forecast for the Multiline Retail industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. New Risk • Feb 25
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 35% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risk Earnings are forecast to decline by an average of 35% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (14% increase in shares outstanding). 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 5.5% 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: Minor Risks Share price has been volatile over the past 3 months (5.5% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Reported Earnings • Nov 14
Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2023 results: NT$1.16 loss per share (further deteriorated from NT$0.22 loss in 3Q 2022). Revenue: NT$9.71b (down 3.1% from 3Q 2022). Net loss: NT$155.2m (loss widened 472% from 3Q 2022). Revenue exceeded analyst estimates by 5.8%. Earnings per share (EPS) missed analyst estimates by 152%. Revenue is forecast to grow 4.1% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Multiline Retail industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 15
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: NT$0.69 loss per share (further deteriorated from NT$0.014 loss in 2Q 2022). Revenue: NT$9.02b (down 19% from 2Q 2022). Net loss: NT$86.2m (loss widened NT$84.4m from 2Q 2022). Revenue missed analyst estimates by 18%. Earnings per share (EPS) also missed analyst estimates. Revenue is expected to decline by 2.7% p.a. on average during the next 2 years, while revenues in the Multiline Retail industry in Asia are expected to grow by 10%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Announcement • Aug 12
PChome Online Inc. Announces Board Changes PChome Online Inc. announced the company's legal person reassigns the director representative. Title and name of the previous position holder: Site Inc. institutional director: Feng Hongzhang. Title and name of the new position holder: Site Inc. institutional director: Allan Chu. Reason for the change: Legal person reassignment representative. Effective date of the new appointment is August 11, 2023. New Risk • Jun 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 11% 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. This is currently the only risk that has been identified for the company. Announcement • May 17
PChome Online Inc. Appoints Lawrence Lee as the Corporate Governance Officer, Effective May 15, 2023 PChome Online Inc. appointed Lawrence Lee as the corporate governance officer effective May 15, 2023. Reported Earnings • May 16
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: NT$0.96 loss per share (further deteriorated from NT$0.25 loss in 1Q 2022). Revenue: NT$10.2b (down 13% from 1Q 2022). Net loss: NT$121.0m (loss widened 277% from 1Q 2022). Revenue missed analyst estimates by 4.1%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 3.3% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Multiline Retail industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 08
Full year 2022 earnings: Revenues in line with analyst expectations Full year 2022 results: Revenue: NT$46.1b (down 5.1% from FY 2021). Net loss: NT$52.8m (down 154% from profit in FY 2021). Revenue was in line with analyst estimates. Revenue is forecast to grow 1.1% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Online Retail industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Price Target Changed • Nov 26
Price target decreased to NT$49.00 Down from NT$58.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of NT$50.10. Stock is down 62% over the past year. The company is forecast to post a net loss per share of NT$0.61 compared to earnings per share of NT$0.84 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Tzu-Hsien Tung was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 06
Third quarter 2022 earnings released: NT$0.22 loss per share (vs NT$0.65 profit in 3Q 2021) Third quarter 2022 results: NT$0.22 loss per share (down from NT$0.65 profit in 3Q 2021). Revenue: NT$10.0b (down 12% from 3Q 2021). Net loss: NT$27.2m (down 136% from profit in 3Q 2021). Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Online Retail industry in Asia. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Announcement • Oct 07
21st Financial Technology Co.,Ltd.(Tw) Announces Changes of Directors and Supervisors On behalf of 21st Financial Technology Co. Ltd.(TW) Changes of Directors and Supervisors. Date of occurrence of the change: October 6, 2022. Elected or changed position: Director and Supervisor 3.Title and name of the previous position holder: Director: Vacancy Director: Luke, Kun-Ju Han Supervisor: Leo, Dong-Siang Lu. Resume of the previous position holder: Luke, Kun-Ju Han/Ex-COO of Mobile Technology Inc. Leo, Dong-Siang Lu/Vice President of PChome Online Inc. Title and name of the new position holder: Director:Alice, Yu-Shan Chang Director:Bruce, Lei Chou Supervisor: Vacancy. Resume of the new position holder: Alice,Yu-Shan Chang /Chief Executive Officer of PChome Oline Inc. Circumstances of change: Personnel relocation. Reported Earnings • Aug 10
Second quarter 2022 earnings released: NT$0.013 loss per share (vs NT$0.55 profit in 2Q 2021) Second quarter 2022 results: NT$0.013 loss per share (down from NT$0.55 profit in 2Q 2021). Revenue: NT$11.2b (down 4.7% from 2Q 2021). Net loss: NT$1.75m (down 103% from profit in 2Q 2021). Profit margin: 0% (down from 0.5% in 2Q 2021). Over the next year, revenue is forecast to grow 5.8%, compared to a 31% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings. Announcement • Jul 30
PChome Online Inc. Announces Resignation of Scott Chen as CTO PChome Online Inc. announced resignation of Scott Chen as CTO of the company, effective from July 29, 2022. Upcoming Dividend • Jul 19
Upcoming dividend of NT$0.51 per share Eligible shareholders must have bought the stock before 26 July 2022. Payment date: 22 August 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of Taiwanese dividend payers (6.8%). In line with average of industry peers (1.9%). Announcement • Jul 14
PChome Online Inc. Announces Resignation of Margaret Huang as Member of Audit Committee and Remuneration Committee PChome Online Inc. announced resignation of Independent director of PChome Online Margaret Huang, Chairman of Leo Burnett GC CEO of Publicis/S&S/MSL, as member of audit Committee and remuneration Committee due to health considerations. Announcement • Jul 09
PChome Online Announces Directorate Changes PChome Online Inc. announced director of the company resigned. Date of occurrence of the change: July 7, 2022. Elected or changed position: independent director. Title and name of the previous position holder: Independent director,of PChome Onlined Margaret Huang. Resume of the previous position holder: Director, Chairman of Leo Burnett GC CEO of Publicis/S&S/MSL. Circumstances of change: resignation. Reason for the change: personal career planning. Original term: from July 29, 2021 to July 28, 2024. Announcement • Jul 05
PChome Online Inc. Announces Director Resigns for Subsidiary PC store Inc PChome Online Inc. announced director resignation for the Subsidiary PC store Inc. Title and name of the previous position holder: institutional director of PChome Online Kevin Tsai. Resume of the previous position holder: Director,CEO & General Manager of PChome Online. Date of occurrence of the change: July 4, 2022. Announcement • Jun 29
PChome Online Inc. Approves Cash Dividend, Payable on August 22, 2022 PChome Online Inc. at its shareholders’ meeting held on June 28, 2022, approved cash dividend in total amount of TWD 63,817,473. Ex-rights (Ex-dividend) date: July 26, 2022. Last date before book closure: July 27, 2022. Book closure starting date: July 28, 2022. Book closure ending date: August 1, 2022. Ex-rights (Ex-dividend) record date: August 1, 2022. Payment date of cash dividend distribution: August 22, 2022. Reported Earnings • May 05
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: NT$0.25 loss per share (down from NT$1.17 profit in 1Q 2021). Revenue: NT$11.7b (up 1.9% from 1Q 2021). Net loss: NT$32.1m (down 123% from profit in 1Q 2021). Revenue missed analyst estimates by 7.4%. Earnings per share (EPS) were also behind analyst expectations. Over the next year, revenue is forecast to grow 7.6%, compared to a 34% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • May 04
PChome Online Inc. Announces the Resignation of Ryan Kuo as Institutional Director PChome Online Inc. announced the resignation of Ryan Kuo as institutional director, effective May 3, 2022. Major Estimate Revision • May 04
Consensus EPS estimates fall by 23% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from NT$53.3b to NT$52.0b. EPS estimate also fell from NT$3.07 per share to NT$2.35 per share. Net income forecast to grow 210% next year vs 21% growth forecast for Online Retail industry in Taiwan. Consensus price target down from NT$122 to NT$105. Share price fell 3.2% to NT$77.70 over the past week. Price Target Changed • Apr 27
Price target decreased to NT$122 Down from NT$154, the current price target is an average from 2 analysts. New target price is 51% above last closing price of NT$80.50. Stock is down 5.4% over the past year. The company is forecast to post earnings per share of NT$3.07 for next year compared to NT$0.84 last year. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Tzu-Hsien Tung was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Apr 08
PChome Online Appoints Kris Ou as Vice President and Public Relations Officer, Head of Corporate Communication, Yahoo TW PChome Online Inc. announced the appointment of Kris Ou as Vice President and Public relations officer, Head of Corporate Communication, Yahoo TW Assistant Vice President of Corporate Communication. Reported Earnings • Feb 27
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: NT$0.84 (down from NT$2.16 in FY 2020). Revenue: NT$48.6b (up 11% from FY 2020). Net income: NT$97.4m (down 62% from FY 2020). Profit margin: 0.2% (down from 0.6% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 70%. Over the next year, revenue is forecast to grow 12%, compared to a 34% growth forecast for the retail industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Feb 26
PChome Online Inc., Annual General Meeting, Jun 15, 2022 PChome Online Inc., Annual General Meeting, Jun 15, 2022. Agenda: To discuss 2021 Business Report of the Company; to discuss 2021 Supervisors auditing reports; and to discuss 2021 distribution of employees bonus and remuneration of directors. Major Estimate Revision • Feb 26
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from NT$4.33 to NT$3.36 per share. Revenue forecast steady at NT$54.2b. Net income forecast to grow 36% next year vs 27% growth forecast for Online Retail industry in Taiwan. Consensus price target down from NT$154 to NT$134. Share price fell 6.6% to NT$114 over the past week. Announcement • Jan 25
E.SUN Venture Capital Co., Ltd. acquired 21st Financial Technology Co., Ltd from PChome Online Inc. (TPEX:8044). E.SUN Venture Capital Co., Ltd. acquired 21st Financial Technology Co., Ltd from PChome Online Inc. (TPEX:8044) on January 24, 2022. Crowe Horwath International acted as accountant to PChome Online Inc. (TPEX:8044).
E.SUN Venture Capital Co., Ltd. completed the acquisition of 21st Financial Technology Co., Ltd from PChome Online Inc. (TPEX:8044) on January 24, 2022. Reported Earnings • Nov 05
Third quarter 2021 earnings released: EPS NT$0.65 (vs NT$0.58 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: NT$11.4b (up 11% from 3Q 2020). Net income: NT$74.9m (up 11% from 3Q 2020). Profit margin: 0.7% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment improved over the past week After last week's 16% share price gain to NT$142, the stock trades at a forward P/E ratio of 45x. Average forward P/E is 18x in the Online Retail industry in Asia. Total returns to shareholders of 1.8% over the past three years. Price Target Changed • Oct 26
Price target increased to NT$149 Up from NT$134, the current price target is an average from 4 analysts. New target price is 14% above last closing price of NT$131. Stock is up 39% over the past year. The company is forecast to post earnings per share of NT$2.57 for next year compared to NT$2.16 last year. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$109, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 17x in the Online Retail industry in Asia. Total loss to shareholders of 5.1% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$96.89 per share. Board Change • Aug 18
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. 5 non-independent directors. Independent Director Tzu-Hsien Tung was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$0.55 (vs NT$0.45 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: NT$11.7b (up 14% from 2Q 2020). Net income: NT$63.4m (up 20% from 2Q 2020). Profit margin: 0.5% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 119% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Director Overboarding • Aug 05
Director Tzu-Hsien Tung has joined 3rd company board Independent Director Tzu-Hsien Tung has been appointed to the board of PChome Online Inc. (TPEX:8044). Tung now sits on a total of 3 company boards. With 3 board positions including the role of CEO at Pegatron Corporation (TWSE:4938), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Price Target Changed • Jul 15
Price target increased to NT$123 Up from NT$91.00, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of NT$128. Stock is down 5.9% over the past year. Upcoming Dividend • Jul 14
Upcoming dividend of NT$1.31 per share Eligible shareholders must have bought the stock before 21 July 2021. Payment date: 17 August 2021. Trailing yield: 1.1%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (0.6%). Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improved over the past week After last week's 20% share price gain to NT$127, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 21x in the Online Retail industry in Asia. Total loss to shareholders of 8.5% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$204 per share. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improved over the past week After last week's 18% share price gain to NT$114, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 19x in the Online Retail industry in Asia. Total loss to shareholders of 26% over the past three years. Valuation Update With 7 Day Price Move • May 12
Investor sentiment improved over the past week After last week's 23% share price gain to NT$96.80, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 24x in the Online Retail industry in Asia. Total loss to shareholders of 27% over the past three years. Reported Earnings • May 08
First quarter 2021 earnings released: EPS NT$1.17 (vs NT$0.88 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$11.5b (up 7.6% from 1Q 2020). Net income: NT$137.0m (up 33% from 1Q 2020). Profit margin: 1.2% (up from 1.0% 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 111% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 13
Price target decreased to NT$116 Down from NT$132, the current price target is an average from 2 analysts. New target price is 29% above last closing price of NT$89.90. Stock is down 1.2% over the past year. Announcement • Mar 19
PChome Online Inc., Annual General Meeting, Jun 11, 2021 PChome Online Inc., Annual General Meeting, Jun 11, 2021. Location: No11 Zhongshan South Road Taipei CHANG YUNG-FA FOUNDATION International Convention Center Room1002 Taipei Taiwan Agenda: To consider 2020 business report; to consider audit Committee's review of the 2020 annual final accounting books and statements; to consider report on 2020 employees' and directors' remuneration; to consider implementation Report on the repurchase of the Company's common stocks and procedure for Transfer to Employees; to consider acknowledgment of the 2020 annual final accounting books and statements; to consider acknowledgment of the 2020 Earnings Distribution; to consider election of new directors 9 seats (including 3 independent directors); and to consider other matters. Announcement • Mar 17
PChome Online Inc. Announces Executive Changes PChome Online Inc. announced that JHOU,LEI has replaced LU,DONG-SIANG as spokesperson of the company. Is New 90 Day High Low • Mar 04
New 90-day low: NT$81.20 The company is down 8.0% from its price of NT$88.20 on 04 December 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Online Retail industry, which is up 37% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$41.35 per share. Announcement • Feb 27
PChome Online Inc., Annual General Meeting, Jun 22, 2021 PChome Online Inc., Annual General Meeting, Jun 22, 2021. Agenda: To consider the 2020 business report of the company; to consider the 2020 supervisors auditing reports; to consider the 2020 distribution of employees bonus and remuneration of directors; to consider 2020 financial statements and Business Report; and to consider 2020 deficit compensation. Analyst Estimate Surprise Post Earnings • Feb 27
Revenue and earnings miss expectations Revenue missed analyst estimates by 0.4%. Earnings per share (EPS) also missed analyst estimates by 16%. Over the next year, revenue is forecast to grow 14%, compared to a 59% growth forecast for the Online Retail industry in Taiwan. Reported Earnings • Feb 26
Full year 2020 earnings released: EPS NT$2.16 (vs NT$1.39 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$43.9b (up 13% from FY 2019). Net income: NT$252.8m (up 56% from FY 2019). Profit margin: 0.6% (up from 0.4% 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 90% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 01
New 90-day low: NT$86.10 The company is down 8.0% from its price of NT$93.80 on 04 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Online Retail industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$43.04 per share. Is New 90 Day High Low • Dec 22
New 90-day low: NT$86.20 The company is down 18% from its price of NT$105 on 24 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Online Retail industry, which is down 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$42.91 per share. Is New 90 Day High Low • Dec 04
New 90-day low: NT$87.40 The company is down 19% from its price of NT$108 on 04 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Online Retail industry, which is down 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$37.45 per share.