New Risk • Jun 02
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 9.4% 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 High level of non-cash earnings (130% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (9.4% average weekly change). Market cap is less than US$100m (NT$2.10b market cap, or US$67.0m). Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to NT$28.15, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 46x in the Semiconductor industry in Taiwan. Total returns to shareholders of 72% over the past three years. Reported Earnings • May 17
First quarter 2026 earnings released: EPS: NT$0.85 (vs NT$1.16 loss in 1Q 2025) First quarter 2026 results: EPS: NT$0.85 (up from NT$1.16 loss in 1Q 2025). Net income: NT$70.0m (up NT$165.0m from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 06
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to NT$19.05, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 45x in the Semiconductor industry in Taiwan. Total returns to shareholders of 62% over the past three years. Reported Earnings • Mar 14
Full year 2025 earnings released: NT$0.40 loss per share (vs NT$0.40 loss in FY 2024) Full year 2025 results: NT$0.40 loss per share (in line with FY 2024). Revenue: NT$200.8m (flat on FY 2024). Net loss: NT$32.8m (flat on FY 2024). Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Mar 09
Fortune Oriental Company Limited, Annual General Meeting, May 29, 2026 Fortune Oriental Company Limited, Annual General Meeting, May 29, 2026, at 09:00 Taipei Standard Time. Location: no,19 aly.51 ln.50, ta jen rd., taoyuan district, taoyuan city Taiwan Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$21.55, the stock trades at a trailing P/E ratio of 30.5x. Average trailing P/E is 33x in the Semiconductor industry in Taiwan. Total returns to shareholders of 91% over the past three years. Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to NT$25.35, the stock trades at a trailing P/E ratio of 35.9x. Average trailing P/E is 29x in the Semiconductor industry in Taiwan. Total returns to shareholders of 114% over the past three years. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to NT$16.50, the stock trades at a trailing P/E ratio of 23.4x. Average trailing P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 27% over the past three years. Reported Earnings • Nov 17
Third quarter 2025 earnings released: EPS: NT$1.07 (vs NT$0.82 loss in 3Q 2024) Third quarter 2025 results: EPS: NT$1.07 (up from NT$0.82 loss in 3Q 2024). Revenue: NT$43.3m (down 15% from 3Q 2024). Net income: NT$87.8m (up NT$155.2m from 3Q 2024). 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 3% per year, which means it is significantly lagging earnings growth. New Risk • Aug 19
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 6.1% 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 have declined by 42% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (NT$1.05b market cap, or US$34.7m). Reported Earnings • Aug 17
Second quarter 2025 earnings released: EPS: NT$0.57 (vs NT$0.049 loss in 2Q 2024) Second quarter 2025 results: EPS: NT$0.57 (up from NT$0.049 loss in 2Q 2024). Revenue: NT$43.6m (down 15% from 2Q 2024). Net income: NT$47.0m (up NT$51.0m from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • May 16
First quarter 2025 earnings released: NT$1.16 loss per share (vs NT$0.25 profit in 1Q 2024) First quarter 2025 results: NT$1.16 loss per share (down from NT$0.25 profit in 1Q 2024). Revenue: NT$44.2m (down 7.5% from 1Q 2024). Net loss: NT$95.0m (down NT$115.5m from profit in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • May 03
Fortune Oriental Company Limited to Report Q1, 2025 Results on May 12, 2025 Fortune Oriental Company Limited announced that they will report Q1, 2025 results on May 12, 2025 Reported Earnings • Mar 20
Full year 2024 earnings released: NT$0.40 loss per share (vs NT$0.45 profit in FY 2023) Full year 2024 results: NT$0.40 loss per share (down from NT$0.45 profit in FY 2023). Revenue: NT$200.8m (up 4.3% from FY 2023). Net loss: NT$32.8m (down 188% from profit in FY 2023). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Announcement • Mar 13
Fortune Oriental Company Limited, Annual General Meeting, Jun 10, 2025 Fortune Oriental Company Limited, Annual General Meeting, Jun 10, 2025, at 09:00 Taipei Standard Time. Location: no,19 aly.51 ln.50, ta jen rd., taoyuan district, taoyuan city Taiwan Announcement • Mar 01
Fortune Oriental Company Limited to Report Fiscal Year 2024 Results on Mar 07, 2025 Fortune Oriental Company Limited announced that they will report fiscal year 2024 results on Mar 07, 2025 New Risk • Dec 31
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 6.2% 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 have declined by 46% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.2% average weekly change). Market cap is less than US$100m (NT$1.11b market cap, or US$33.9m). Reported Earnings • Nov 18
Third quarter 2024 earnings released: NT$0.82 loss per share (vs NT$0.13 loss in 3Q 2023) Third quarter 2024 results: NT$0.82 loss per share (further deteriorated from NT$0.13 loss in 3Q 2023). Revenue: NT$51.1m (down 3.7% from 3Q 2023). Net loss: NT$67.4m (loss widened NT$56.6m from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 17
Second quarter 2024 earnings released: NT$0.05 loss per share (vs NT$0.17 loss in 2Q 2023) Second quarter 2024 results: NT$0.05 loss per share (improved from NT$0.17 loss in 2Q 2023). Revenue: NT$51.3m (up 9.4% from 2Q 2023). Net loss: NT$4.02m (loss narrowed 71% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 16% per year. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$12.85, the stock trades at a trailing P/E ratio of 46.1x. Average trailing P/E is 26x in the Semiconductor industry in Taiwan. Total loss to shareholders of 62% over the past three years. Announcement • Aug 01
Fortune Oriental Company Limited to Report Q2, 2024 Results on Aug 09, 2024 Fortune Oriental Company Limited announced that they will report Q2, 2024 results on Aug 09, 2024 Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.25 (vs NT$0.42 in 1Q 2023) First quarter 2024 results: EPS: NT$0.25 (down from NT$0.42 in 1Q 2023). Revenue: NT$47.8m (up 26% from 1Q 2023). Net income: NT$20.5m (down 41% from 1Q 2023). Profit margin: 43% (down from 92% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Announcement • May 03
Fortune Oriental Company Limited to Report Q1, 2024 Results on May 10, 2024 Fortune Oriental Company Limited announced that they will report Q1, 2024 results on May 10, 2024 Reported Earnings • Mar 20
Full year 2023 earnings released: EPS: NT$0.45 (vs NT$4.70 loss in FY 2022) Full year 2023 results: EPS: NT$0.45 (up from NT$4.70 loss in FY 2022). Net income: NT$37.2m (up NT$422.6m from FY 2022). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Mar 16
Fortune Oriental Company Limited, Annual General Meeting, Jun 24, 2024 Fortune Oriental Company Limited, Annual General Meeting, Jun 24, 2024. Location: Taoyuan Administration Building No. 19, Aly. 51, Ln. 50, Daren Rd., Taoyuan Dist., Taoyuan City Taoyuan City Taiwan Agenda: To consider 2023 Business Report and financial Statements; to Audit Committee’s Report of the 2023 Audited Financial Reports ; to Report on Remuneration of Individual Directors 2023; to Adoption of the 2023 Business Report and Financial Statements; to Adoption of the Proposal for 2023 Deficit Compensation ; to The subsidiaries take part in the Urban renewal project plan and Right transformation plan; and to consider other matters if any. New Risk • Dec 07
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 20% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (20% accrual ratio). Minor Risk Market cap is less than US$100m (NT$1.13b market cap, or US$35.8m). Reported Earnings • Nov 15
Third quarter 2023 earnings released: NT$0.13 loss per share (vs NT$1.35 loss in 3Q 2022) Third quarter 2023 results: NT$0.13 loss per share (improved from NT$1.35 loss in 3Q 2022). Net loss: NT$10.8m (loss narrowed 90% from 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 17
Second quarter 2023 earnings released: NT$0.17 loss per share (vs NT$2.29 loss in 2Q 2022) Second quarter 2023 results: NT$0.17 loss per share (improved from NT$2.29 loss in 2Q 2022). Net loss: NT$14.0m (loss narrowed 93% from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 121 percentage points per year, which is a significant difference in performance. New Risk • Jul 21
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 8.1% 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 Share price has been highly volatile over the past 3 months (8.1% average weekly change). Earnings have declined by 31% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (NT$1.27b market cap, or US$40.5m). Upcoming Dividend • Jul 12
Upcoming dividend of NT$0.10 per share Eligible shareholders must have bought the stock before 19 July 2022. Payment date: 12 August 2022. Trailing yield: 0.8%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (3.9%). Reported Earnings • May 18
First quarter 2022 earnings released: NT$1.23 loss per share (vs NT$0.87 profit in 1Q 2021) First quarter 2022 results: NT$1.23 loss per share (down from NT$0.87 profit in 1Q 2021). Revenue: -NT$73.1m (down 155% from 1Q 2021). Net loss: NT$100.5m (down 241% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 40% per year, which means it is well ahead of earnings. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: NT$0.63 (vs NT$1.50 in FY 2020) Full year 2021 results: EPS: NT$0.63 (down from NT$1.50 in FY 2020). Revenue: NT$369.6m (down 7.7% from FY 2020). Net income: NT$51.8m (down 58% from FY 2020). Profit margin: 14% (down from 31% in FY 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improved over the past week After last week's 20% share price gain to NT$22.00, the stock trades at a trailing P/E ratio of 12.3x. Average trailing P/E is 18x in the Semiconductor industry in Taiwan. Total returns to shareholders of 266% over the past three years. Reported Earnings • Nov 17
Third quarter 2021 earnings released: NT$3.65 loss per share (vs NT$0.31 loss in 3Q 2020) The company reported a soft third quarter result with increased losses and weaker revenues, although control over costs improved. Third quarter 2021 results: Revenue: -NT$390.2m (down 981% from 3Q 2020). Net loss: NT$299.7m (loss widened NT$274.1m from 3Q 2020). Profit margin: 77% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has increased by 64% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$20.25, the stock trades at a trailing P/E ratio of 3.9x. Average trailing P/E is 19x in the Semiconductor industry in Taiwan. Total returns to shareholders of 221% over the past three years. Upcoming Dividend • Sep 10
Upcoming dividend of NT$0.40 per share Eligible shareholders must have bought the stock before 17 September 2021. Payment date: 08 October 2021. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.1%). Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$2.75 (vs NT$0.08 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$502.0m (up NT$442.7m from 2Q 2020). Net income: NT$225.7m (up NT$232.3m from 2Q 2020). Profit margin: 45% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 53% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment deteriorated over the past week After last week's 27% share price decline to NT$25.30, the stock trades at a trailing P/E ratio of 11x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 263% over the past three years. Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$31.95, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 366% over the past three years. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improved over the past week After last week's 19% share price gain to NT$28.45, the stock trades at a trailing P/E ratio of 12.3x. Average trailing P/E is 25x in the Semiconductor industry in Taiwan. Total returns to shareholders of 277% over the past three years. Valuation Update With 7 Day Price Move • May 23
Investor sentiment improved over the past week After last week's 21% share price gain to NT$24.60, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 20x in the Semiconductor industry in Taiwan. Total returns to shareholders of 290% over the past three years. Reported Earnings • May 18
First quarter 2021 earnings released: EPS NT$0.87 (vs NT$0.064 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$133.0m (up 167% from 1Q 2020). Net income: NT$71.1m (up NT$65.9m from 1Q 2020). Profit margin: 54% (up from 11% in 1Q 2020). 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 52% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 06
Investor sentiment deteriorated over the past week After last week's 20% share price decline to NT$19.80, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 26x in the Semiconductor industry in Taiwan. Total returns to shareholders of 208% over the past three years. Reported Earnings • Apr 01
Full year 2020 earnings released: EPS NT$1.50 (vs NT$5.48 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: NT$400.3m (up 24% from FY 2019). Net income: NT$123.0m (down 73% from FY 2019). Profit margin: 31% (down from 139% in FY 2019). The decrease in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 47% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improved over the past week After last week's 26% share price gain to NT$16.15, the stock trades at a trailing P/E ratio of 3.1x. Average trailing P/E is 26x in the Semiconductor industry in Taiwan. Total returns to shareholders of 136% over the past three years. Is New 90 Day High Low • Mar 02
New 90-day high: NT$14.40 The company is up 40% from its price of NT$10.30 on 02 December 2020. The Taiwanese market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 24% over the same period. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improved over the past week After last week's 21% share price gain to NT$14.40, the stock is trading at a trailing P/E ratio of 2.8x, up from the previous P/E ratio of 2.3x. This compares to an average P/E of 27x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 114%. Valuation Update With 7 Day Price Move • Jan 18
Investor sentiment improved over the past week After last week's 19% share price gain to NT$12.10, the stock is trading at a trailing P/E ratio of 2.3x, up from the previous P/E ratio of 1.9x. This compares to an average P/E of 26x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 83%. Is New 90 Day High Low • Jan 18
New 90-day high: NT$12.10 The company is up 42% from its price of NT$8.55 on 20 October 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 32% over the same period. Valuation Update With 7 Day Price Move • Nov 30
Market bids up stock over the past week After last week's 28% share price gain to NT$11.10, the stock is trading at a trailing P/E ratio of 2.1x, up from the previous P/E ratio of 1.7x. This compares to an average P/E of 24x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 59%. Is New 90 Day High Low • Nov 26
New 90-day high: NT$10.00 The company is up 25% from its price of NT$8.00 on 28 August 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 13% over the same period. Reported Earnings • Nov 17
Third quarter 2020 earnings released: NT$0.31 loss per share Third quarter 2020 results: Net loss: NT$25.6m (down NT$25.6m from profit in 3Q 2019). Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. 