Reported Earnings • May 11
First quarter 2026 earnings released: EPS: NT$0.073 (vs NT$0.29 in 1Q 2025) First quarter 2026 results: EPS: NT$0.073 (down from NT$0.29 in 1Q 2025). Revenue: NT$4.30b (down 1.1% from 1Q 2025). Net income: NT$8.56m (down 75% from 1Q 2025). Profit margin: 0.2% (down from 0.8% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Declared Dividend • Mar 05
Dividend reduced to NT$0.80 Dividend of NT$0.80 is 47% lower than last year. Ex-date: 19th March 2026 Payment date: 22nd April 2026 Dividend yield will be 3.5%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is not covered by earnings (151% earnings payout ratio). However, it is well covered by cash flows (23% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 68% to bring the payout ratio under control. However, EPS has declined by 23% over the last 5 years so the company would need to reverse this trend. Announcement • Mar 05
Tsann Kuen Enterprise Co.,Ltd announces Annual dividend, payable on April 22, 2026 Tsann Kuen Enterprise Co.,Ltd announced Annual dividend of TWD 0.8000 per share payable on April 22, 2026, ex-date on March 19, 2026 and record date on March 21, 2026. Reported Earnings • Mar 04
Full year 2025 earnings released: EPS: NT$0.70 (vs NT$1.61 in FY 2024) Full year 2025 results: EPS: NT$0.70 (down from NT$1.61 in FY 2024). Revenue: NT$17.7b (down 6.9% from FY 2024). Net income: NT$81.2m (down 57% from FY 2024). Profit margin: 0.5% (down from 1.0% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Announcement • Feb 04
Tsann Kuen Enterprise Co.,Ltd, Annual General Meeting, May 20, 2026 Tsann Kuen Enterprise Co.,Ltd, Annual General Meeting, May 20, 2026. Location: 6 floor no,331, t`i ting ta tao, neihu district, taipei city Taiwan Reported Earnings • Nov 08
Third quarter 2025 earnings released: EPS: NT$0.03 (vs NT$0.17 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.03 (down from NT$0.17 in 3Q 2024). Revenue: NT$4.51b (down 9.3% from 3Q 2024). Net income: NT$3.59m (down 82% from 3Q 2024). Profit margin: 0.1% (down from 0.4% in 3Q 2024). The decrease in margin was driven by lower revenue. 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 16% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 09
Second quarter 2025 earnings released: EPS: NT$0.001 (vs NT$0.33 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.001 (down from NT$0.33 in 2Q 2024). Revenue: NT$4.52b (down 4.5% from 2Q 2024). Net income: NT$151.0k (down 100% from 2Q 2024). Profit margin: 0% (down from 0.8% in 2Q 2024). The decrease in margin was driven by lower revenue. 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 9% per year, which means it has not declined as severely as earnings. Reported Earnings • May 10
First quarter 2025 earnings released: EPS: NT$0.29 (vs NT$0.44 in 1Q 2024) First quarter 2025 results: EPS: NT$0.29 (down from NT$0.44 in 1Q 2024). Revenue: NT$4.34b (down 7.0% from 1Q 2024). Net income: NT$34.0m (down 34% from 1Q 2024). Profit margin: 0.8% (down from 1.1% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 51% 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 • May 01
Tsann Kuen Enterprise Co.,Ltd to Report Q1, 2025 Results on May 09, 2025 Tsann Kuen Enterprise Co.,Ltd announced that they will report Q1, 2025 results on May 09, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$25.00, the stock trades at a trailing P/E ratio of 15.5x. Average trailing P/E is 19x in the Specialty Retail industry in Taiwan. Total loss to shareholders of 41% over the past three years. New Risk • Apr 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.12b (US$94.3m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.9% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (93% payout ratio). Market cap is less than US$100m (NT$3.12b market cap, or US$94.3m). Upcoming Dividend • Mar 16
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 20 March 2025. Payment date: 23 April 2025. Payout ratio is on the higher end at 93%, however this is supported by cash flows. Trailing yield: 4.8%. Within top quartile of Taiwanese dividend payers (4.5%). Higher than average of industry peers (3.4%). New Risk • Mar 09
New major risk - Revenue and earnings growth Earnings have declined by 2.9% 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 2.9% per year over the past 5 years. Minor Risk Dividend is not well covered by earnings (139% payout ratio). Announcement • Mar 05
Tsann Kuen Enterprise Co.,Ltd, Annual General Meeting, May 21, 2025 Tsann Kuen Enterprise Co.,Ltd, Annual General Meeting, May 21, 2025, at 09:00 Taipei Standard Time. Location: 6 floor no,331, t`i ting ta tao, neihu district, taipei city Taiwan Declared Dividend • Mar 01
Dividend reduced to NT$1.50 Dividend of NT$1.50 is 32% lower than last year. Ex-date: 20th March 2025 Payment date: 23rd April 2025 Dividend yield will be 5.0%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is not covered by earnings (139% earnings payout ratio). However, it is well covered by cash flows (22% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 55% to bring the payout ratio under control, which is more than the 2.4% EPS growth achieved over the last 5 years. Announcement • Feb 28
Tsann Kuen Enterprise Co.,Ltd announces Annual dividend, payable on April 23, 2025 Tsann Kuen Enterprise Co.,Ltd announced Annual dividend of TWD 1.5000 per share payable on April 23, 2025, ex-date on March 20, 2025 and record date on March 22, 2025. Announcement • Feb 20
Tsann Kuen Enterprise Co.,Ltd to Report Q4, 2024 Results on Feb 27, 2025 Tsann Kuen Enterprise Co.,Ltd announced that they will report Q4, 2024 results on Feb 27, 2025 Buy Or Sell Opportunity • Dec 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.6% to NT$30.75. The fair value is estimated to be NT$38.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. 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$0.17 (vs NT$0.42 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.17 (down from NT$0.42 in 3Q 2023). Revenue: NT$4.97b (down 2.7% from 3Q 2023). Net income: NT$20.2m (down 59% from 3Q 2023). Profit margin: 0.4% (down from 1.0% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Announcement • Oct 26
Tsann Kuen Enterprise Co.,Ltd to Report Q3, 2024 Results on Nov 04, 2024 Tsann Kuen Enterprise Co.,Ltd announced that they will report Q3, 2024 results on Nov 04, 2024 Reported Earnings • Aug 07
Second quarter 2024 earnings released: EPS: NT$0.33 (vs NT$0.42 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.33 (down from NT$0.42 in 2Q 2023). Revenue: NT$4.73b (down 7.2% from 2Q 2023). Net income: NT$38.4m (down 22% from 2Q 2023). Profit margin: 0.8% (down from 1.0% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Announcement • Jul 27
Tsann Kuen Enterprise Co.,Ltd to Report Q2, 2024 Results on Aug 05, 2024 Tsann Kuen Enterprise Co.,Ltd announced that they will report Q2, 2024 results on Aug 05, 2024 Reported Earnings • Jul 05
First quarter 2024 earnings released: EPS: NT$0.44 (vs NT$0.90 in 1Q 2023) First quarter 2024 results: EPS: NT$0.44 (down from NT$0.90 in 1Q 2023). Revenue: NT$4.67b (down 7.5% from 1Q 2023). Net income: NT$51.5m (down 51% from 1Q 2023). Profit margin: 1.1% (down from 2.1% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • Apr 28
Tsann Kuen Enterprise Co.,Ltd to Report Q1, 2024 Results on May 06, 2024 Tsann Kuen Enterprise Co.,Ltd announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 06, 2024 Upcoming Dividend • Mar 14
Upcoming dividend of NT$2.20 per share Eligible shareholders must have bought the stock before 21 March 2024. Payment date: 24 April 2024. Payout ratio is on the higher end at 92%, however this is supported by cash flows. Trailing yield: 5.4%. Within top quartile of Taiwanese dividend payers (4.8%). Higher than average of industry peers (1.1%). Reported Earnings • Mar 06
Full year 2023 earnings released: EPS: NT$2.39 (vs NT$4.29 in FY 2022) Full year 2023 results: EPS: NT$2.39 (down from NT$4.29 in FY 2022). Revenue: NT$20.0b (down 10% from FY 2022). Net income: NT$278.7m (down 53% from FY 2022). Profit margin: 1.4% (down from 2.7% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Declared Dividend • Mar 02
Dividend of NT$2.20 announced Shareholders will receive a dividend of NT$2.20. Ex-date: 21st March 2024 Payment date: 24th April 2024 Dividend yield will be 5.6%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is not covered by earnings (169% earnings payout ratio). However, it is well covered by cash flows (30% cash payout ratio). The dividend has increased by an average of 3.4% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 88% to bring the payout ratio under control, which is more than the 3.1% EPS growth achieved over the last 5 years. Announcement • Mar 01
Tsann Kuen Enterprise Co.,Ltd. Announces Cash Dividends, Payable on April 24, 2024 Tsann Kuen Enterprise Co.,Ltd. announced Cash dividends of TWD 256,960,000 (TWD 2.2 per share) of common stock, payable on April 24, 2024 and Ex-rights (ex-dividend) record date of March 28, 2024. Announcement • Feb 01
Tsann Kuen Enterprise Co.,Ltd, Annual General Meeting, May 22, 2024 Tsann Kuen Enterprise Co.,Ltd, Annual General Meeting, May 22, 2024. Location: 6F., No.331, Sec.1, Tiding Blvd., Taipei City Taiwan Agenda: To consider 2023 business operation status; to consider audit committee's review of the 2023 final accounts and books; 2023 earnings distribution scheme; to consider remuneration of employees for 2023; to consider ratification of the 2023 final accounts and books; and to transact other business. Reported Earnings • Nov 05
Third quarter 2023 earnings released: EPS: NT$0.42 (vs NT$1.04 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.42 (down from NT$1.04 in 3Q 2022). Revenue: NT$5.11b (down 6.8% from 3Q 2022). Net income: NT$49.6m (down 59% from 3Q 2022). Profit margin: 1.0% (down from 2.2% in 3Q 2022). The decrease in margin was driven by lower 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 14% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Aug 06
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.9% Last year net profit margin: 2.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (105% payout ratio). Profit margins are more than 30% lower than last year (1.9% net profit margin). Reported Earnings • Aug 05
Second quarter 2023 earnings released: EPS: NT$0.42 (vs NT$1.52 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.42 (down from NT$1.52 in 2Q 2022). Revenue: NT$5.10b (down 14% from 2Q 2022). Net income: NT$49.2m (down 72% from 2Q 2022). Profit margin: 1.0% (down from 3.0% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 17% per year. Upcoming Dividend • Mar 17
Upcoming dividend of NT$4.00 per share at 8.1% yield Eligible shareholders must have bought the stock before 24 March 2023. Payment date: 26 April 2023. Payout ratio is on the higher end at 93%, however this is supported by cash flows. Trailing yield: 8.1%. Within top quartile of Taiwanese dividend payers (6.2%). Higher than average of industry peers (3.7%). Reported Earnings • Mar 05
Full year 2022 earnings released: EPS: NT$4.29 (vs NT$5.60 in FY 2021) Full year 2022 results: EPS: NT$4.29 (down from NT$5.60 in FY 2021). Revenue: NT$22.3b (down 1.8% from FY 2021). Net income: NT$593.1m (down 9.3% from FY 2021). Profit margin: 2.7% (down from 2.9% 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 37% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
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. 8 highly experienced directors. Supervisor Cai Shuren was the last director to join the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Nov 07
Third quarter 2022 earnings released: EPS: NT$1.04 (vs NT$1.03 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.04 (up from NT$1.03 in 3Q 2021). Revenue: NT$5.48b (down 2.0% from 3Q 2021). Net income: NT$121.5m (up 1.3% from 3Q 2021). Profit margin: 2.2% (in line with 3Q 2021). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improved over the past week After last week's 49% share price gain to NT$47.60, the stock trades at a trailing P/E ratio of 8.4x. Average trailing P/E is 13x in the Specialty Retail industry in Taiwan. Total returns to shareholders of 142% over the past three years. Reported Earnings • Aug 08
Second quarter 2022 earnings released: EPS: NT$1.16 (vs NT$1.46 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.16. Revenue: NT$5.94b (down 1.2% from 2Q 2021). Net income: NT$177.8m (up 4.6% from 2Q 2021). Profit margin: 3.0% (up from 2.8% in 2Q 2021). The increase in margin was driven by lower expenses. Upcoming Dividend • Jul 28
Upcoming dividend of NT$2.98 per share Eligible shareholders must have bought the stock before 04 August 2022. Payment date: 15 August 2022. Payout ratio is on the higher end at 90%, however this is supported by cash flows. Trailing yield: 11%. Within top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (3.8%). Reported Earnings • May 09
First quarter 2022 earnings released: EPS: NT$1.03 (vs NT$1.00 in 1Q 2021) First quarter 2022 results: EPS: NT$1.03 (up from NT$1.00 in 1Q 2021). Revenue: NT$5.75b (up 9.6% from 1Q 2021). Net income: NT$170.6m (up 2.4% from 1Q 2021). Profit margin: 3.0% (down from 3.2% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
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. 8 highly experienced directors. Supervisor Wei Ren Diao was the last director to join the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Upcoming Dividend • Mar 09
Upcoming dividend of NT$3.54 per share Eligible shareholders must have bought the stock before 16 March 2022. Payment date: 01 April 2022. Payout ratio is on the higher end at 90%, however this is supported by cash flows. Trailing yield: 7.9%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.4%). Announcement • Feb 27
Tsann Kuen Enterprise Co.,Ltd, Annual General Meeting, May 16, 2022 Tsann Kuen Enterprise Co.,Ltd, Annual General Meeting, May 16, 2022. Reported Earnings • Feb 27
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$3.93 (up from NT$1.85 in FY 2020). Revenue: NT$22.7b (up 16% from FY 2020). Net income: NT$653.7m (up 112% from FY 2020). Profit margin: 2.9% (up from 1.6% 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 49% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$0.72 (vs NT$0.50 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$5.59b (up 4.0% from 3Q 2020). Net income: NT$119.9m (up 44% from 3Q 2020). Profit margin: 2.1% (up from 1.5% 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 37% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment improved over the past week After last week's 16% share price gain to NT$43.90, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 14x in the Specialty Retail industry in Taiwan. Total returns to shareholders of 127% over the past three years. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$1.02 (vs NT$0.18 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$6.01b (up 29% from 2Q 2020). Net income: NT$170.1m (up 477% from 2Q 2020). Profit margin: 2.8% (up from 0.6% in 2Q 2020). The increase in margin was driven by higher revenue. 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 17% per year. Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorated over the past week After last week's 18% share price decline to NT$25.10, the stock trades at a trailing P/E ratio of 11x. Average trailing P/E is 16x in the Specialty Retail industry in Taiwan. Total returns to shareholders of 13% over the past three years. Upcoming Dividend • May 10
Upcoming dividend of NT$1.55 per share Eligible shareholders must have bought the stock before 17 May 2021. Payment date: 28 May 2021. Trailing yield: 5.0%. Within top quartile of Taiwanese dividend payers (4.8%). Higher than average of industry peers (3.2%). Reported Earnings • May 08
First quarter 2021 earnings released: EPS NT$1.00 (vs NT$0.58 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$5.25b (up 16% from 1Q 2020). Net income: NT$166.6m (up 74% from 1Q 2020). Profit margin: 3.2% (up from 2.1% 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 3% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 13
Full year 2020 earnings released: EPS NT$1.85 (vs NT$1.27 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$19.5b (up 3.3% from FY 2019). Net income: NT$308.4m (up 46% from FY 2019). Profit margin: 1.6% (up from 1.1% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 3% per year. Is New 90 Day High Low • Mar 11
New 90-day high: NT$21.45 The company is up 13% from its price of NT$19.00 on 11 December 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is down 5.0% over the same period. Is New 90 Day High Low • Dec 21
New 90-day high: NT$19.35 The company is up 2.0% from its price of NT$18.90 on 22 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Specialty Retail industry, which is down 4.0% over the same period. Reported Earnings • Nov 06
Third quarter 2020 earnings released: EPS NT$0.50 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$5.38b (up 5.5% from 3Q 2019). Net income: NT$83.2m (up 25% from 3Q 2019). Profit margin: 1.5% (up from 1.3% 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 13% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 13
New 90-day low: NT$18.10 The company is down 3.0% from its price of NT$18.75 on 15 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Specialty Retail industry, which is down 8.0% over the same period. 
