Upcoming Dividend • Jun 17
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 24 June 2026. Payment date: 21 July 2026. Payout ratio is on the higher end at 90%, and the cash payout ratio is above 100%. Trailing yield: 1.7%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (1.0%). Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to NT$58.70, the stock trades at a trailing P/E ratio of 52.8x. Average trailing P/E is 45x in the Semiconductor industry in Taiwan. Total returns to shareholders of 20% over the past three years. Declared Dividend • Jun 01
Dividend reduced to NT$1.00 Dividend of NT$1.00 is 56% lower than last year. Ex-date: 24th June 2026 Payment date: 21st July 2026 Dividend yield will be 1.9%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is not adequately covered by earnings (97% earnings payout ratio) nor is it covered by cash flows (119% 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 7.6% to bring the payout ratio under control. However, EPS has declined by 20% over the last 5 years so the company would need to reverse this trend. Board Change • May 29
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. 4 non-independent directors. Independent Director Chih-Chung Tsai was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 07
First quarter 2026 earnings released: EPS: NT$0.50 (vs NT$0.42 in 1Q 2025) First quarter 2026 results: EPS: NT$0.50 (up from NT$0.42 in 1Q 2025). Revenue: NT$586.8m (up 12% from 1Q 2025). Net income: NT$54.6m (up 19% from 1Q 2025). Profit margin: 9.3% (up from 8.7% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. New Risk • Apr 22
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 9.0% 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 26% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (97% payout ratio). Share price has been volatile over the past 3 months (9.0% average weekly change). Profit margins are more than 30% lower than last year (5.3% net profit margin). Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$48.65, the stock trades at a trailing P/E ratio of 47.1x. Average trailing P/E is 43x in the Semiconductor industry in Taiwan. Total returns to shareholders of 5.3% over the past three years. New Risk • Mar 09
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 7.4% 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 211% Cash payout ratio: 193% Earnings have declined by 26% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Profit margins are more than 30% lower than last year (5.3% net profit margin). Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$50.70, the stock trades at a trailing P/E ratio of 49.1x. Average trailing P/E is 34x in the Semiconductor industry in Taiwan. Total returns to shareholders of 5.8% over the past three years. Announcement • Feb 26
Generalplus Technology Inc., Annual General Meeting, May 27, 2026 Generalplus Technology Inc., Annual General Meeting, May 27, 2026. Location: no,1, kung yeh tung 2nd rd., hsinchu science park, hsinchu city Taiwan Reported Earnings • Feb 26
Full year 2025 earnings released: EPS: NT$1.03 (vs NT$2.27 in FY 2024) Full year 2025 results: EPS: NT$1.03 (down from NT$2.27 in FY 2024). Revenue: NT$2.13b (down 14% from FY 2024). Net income: NT$112.4m (down 55% from FY 2024). Profit margin: 5.3% (down from 10.0% 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 37% 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. Reported Earnings • Nov 06
Third quarter 2025 earnings released: EPS: NT$0.07 (vs NT$0.56 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.07 (down from NT$0.56 in 3Q 2024). Revenue: NT$478.8m (down 27% from 3Q 2024). Net income: NT$8.09m (down 87% from 3Q 2024). Profit margin: 1.7% (down from 9.3% 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 46% 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. Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$45.45, the stock trades at a trailing P/E ratio of 29.3x. Average trailing P/E is 32x in the Semiconductor industry in Taiwan. Total returns to shareholders of 2.7% over the past three years. Reported Earnings • Aug 08
Second quarter 2025 earnings released: EPS: NT$0.51 (vs NT$1.09 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.51 (down from NT$1.09 in 2Q 2024). Revenue: NT$665.0m (down 16% from 2Q 2024). Net income: NT$56.0m (down 53% from 2Q 2024). Profit margin: 8.4% (down from 15% 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 52% 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. Upcoming Dividend • Jun 18
Upcoming dividend of NT$2.25 per share Eligible shareholders must have bought the stock before 25 June 2025. Payment date: 23 July 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.3%. Within top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (2.3%). Declared Dividend • Jun 04
Dividend increased to NT$2.25 Dividend of NT$2.25 is 73% higher than last year. Ex-date: 25th June 2025 Payment date: 23rd July 2025 Dividend yield will be 5.3%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is not covered by earnings (106% earnings payout ratio) nor is it covered by cash flows (161% 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 17% to bring the payout ratio under control, which is more than the 1.9% EPS growth achieved over the last 5 years. Announcement • Jun 03
Generalplus Technology Inc. Approves Cash Dividend, Payable on July 23, 2025 Generalplus Technology Inc. Approved Cash Dividend of TWD 2.25 per share. Ex-rights (ex-dividend) trading date: June 25, 2025, Last date before book closure: June 26, 2025, Book closure starting date: June 27, 2025, Book closure ending date: July 1, 2025, Ex-rights (ex-dividend) record date: July 1, 2025, Payment date of common stock cash dividend distribution: July 23, 2025. Date of the resolution by the board of directors or shareholders meeting or decision by the Company: June 2, 2025. Reported Earnings • May 09
First quarter 2025 earnings released: EPS: NT$0.42 (vs NT$0.56 in 1Q 2024) First quarter 2025 results: EPS: NT$0.42 (down from NT$0.56 in 1Q 2024). Revenue: NT$526.2m (down 3.2% from 1Q 2024). Net income: NT$46.0m (down 25% from 1Q 2024). Profit margin: 8.7% (down from 11% in 1Q 2024). 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 19% per year, which means it has not declined as severely as earnings. Announcement • Apr 30
Generalplus Technology Inc. to Report Q1, 2025 Results on May 07, 2025 Generalplus Technology Inc. announced that they will report Q1, 2025 results on May 07, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$38.20, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total loss to shareholders of 35% over the past three years. New Risk • Mar 20
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 99% Cash payout ratio: 114% Dividend yield: 4.3% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 99% Cash payout ratio: 114% Earnings have declined by 3.2% per year over the past 5 years. New Risk • Mar 01
New major risk - Revenue and earnings growth Earnings have declined by 3.2% 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 3.2% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Feb 20
Generalplus Technology Inc., Annual General Meeting, May 27, 2025 Generalplus Technology Inc., Annual General Meeting, May 27, 2025. Location: no,1, kung yeh tung 2nd rd., hsinchu science park, hsinchu city Taiwan Announcement • Feb 13
Generalplus Technology Inc. to Report Fiscal Year 2024 Results on Feb 19, 2025 Generalplus Technology Inc. announced that they will report fiscal year 2024 results on Feb 19, 2025 Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.56 (vs NT$0.50 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.56 (up from NT$0.50 in 3Q 2023). Revenue: NT$656.9m (up 12% from 3Q 2023). Net income: NT$60.9m (up 13% from 3Q 2023). Profit margin: 9.3% (up from 9.2% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • Oct 30
Generalplus Technology Inc. to Report Q3, 2024 Results on Nov 06, 2024 Generalplus Technology Inc. announced that they will report Q3, 2024 results on Nov 06, 2024 Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$58.60, the stock trades at a trailing P/E ratio of 25.5x. Average trailing P/E is 32x in the Semiconductor industry in Taiwan. Total returns to shareholders of 9.1% over the past three years. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: NT$1.09 (vs NT$0.61 in 2Q 2023) Second quarter 2024 results: EPS: NT$1.09 (up from NT$0.61 in 2Q 2023). Revenue: NT$791.0m (up 27% from 2Q 2023). Net income: NT$118.9m (up 79% from 2Q 2023). Profit margin: 15% (up from 11% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 40% 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. Announcement • Jul 31
Generalplus Technology Inc. to Report Q2, 2024 Results on Aug 07, 2024 Generalplus Technology Inc. announced that they will report Q2, 2024 results on Aug 07, 2024 Buy Or Sell Opportunity • Jul 05
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 41% to NT$67.00. The fair value is estimated to be NT$54.53, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 17% over the last 3 years. Earnings per share has declined by 29%. New Risk • Jun 12
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 6.7% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.7% average weekly change). Profit margins are more than 30% lower than last year (8.8% net profit margin). Declared Dividend • Jun 07
Dividend reduced to NT$1.30 Dividend of NT$1.30 is 74% lower than last year. Ex-date: 25th June 2024 Payment date: 25th July 2024 Dividend yield will be 1.9%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (72% earnings payout ratio) and cash flows (28% 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 decline by 20% to shift the payout ratio to a potentially unsustainable range, which is more than the 5.9% EPS decline seen over the last 5 years. Buy Or Sell Opportunity • May 20
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 24% to NT$66.20. The fair value is estimated to be NT$53.79, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 17% over the last 3 years. Earnings per share has declined by 29%. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.56 (vs NT$0.29 in 1Q 2023) First quarter 2024 results: EPS: NT$0.56 (up from NT$0.29 in 1Q 2023). Revenue: NT$543.8m (up 19% from 1Q 2023). Net income: NT$61.2m (up 92% from 1Q 2023). Profit margin: 11% (up from 7.0% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$60.10, the stock trades at a trailing P/E ratio of 38.9x. Average trailing P/E is 31x in the Semiconductor industry in Taiwan. Total returns to shareholders of 54% over the past three years. Announcement • May 01
Generalplus Technology Inc. to Report Q1, 2024 Results on May 08, 2024 Generalplus Technology Inc. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 08, 2024 Buy Or Sell Opportunity • Apr 03
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to NT$47.45. The fair value is estimated to be NT$59.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Earnings per share has declined by 15%. Reported Earnings • Feb 27
Full year 2023 earnings released: EPS: NT$1.54 (vs NT$5.32 in FY 2022) Full year 2023 results: EPS: NT$1.54 (down from NT$5.32 in FY 2022). Revenue: NT$2.17b (down 32% from FY 2022). Net income: NT$168.0m (down 71% from FY 2022). Profit margin: 7.8% (down from 18% 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 15% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: NT$0.50 (vs NT$1.07 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.50 (down from NT$1.07 in 3Q 2022). Revenue: NT$587.7m (down 15% from 3Q 2022). Net income: NT$54.0m (down 54% from 3Q 2022). Profit margin: 9.2% (down from 17% 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 2% per year but the company’s share price has increased by 10% 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: 11% Last year net profit margin: 21% 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: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 228% Cash payout ratio: 250% Minor Risk Profit margins are more than 30% lower than last year (11% net profit margin). Reported Earnings • Aug 05
Second quarter 2023 earnings released: EPS: NT$0.61 (vs NT$2.00 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.61 (down from NT$2.00 in 2Q 2022). Revenue: NT$625.4m (down 39% from 2Q 2022). Net income: NT$66.5m (down 69% from 2Q 2022). Profit margin: 11% (down from 21% 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 20% per year whereas the company’s share price has increased by 18% per year. Upcoming Dividend • Jun 24
Upcoming dividend of NT$5.00 per share at 8.6% yield Eligible shareholders must have bought the stock before 30 June 2023. Payment date: 28 July 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 8.6%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.2%). Board Change • Jun 12
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. 4 non-independent directors. President & Director Kevin Chia was the last director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 22
Full year 2022 earnings released: EPS: NT$5.32 (vs NT$6.05 in FY 2021) Full year 2022 results: EPS: NT$5.32 (down from NT$6.05 in FY 2021). Revenue: NT$3.17b (down 12% from FY 2021). Net income: NT$579.4m (down 12% from FY 2021). Profit margin: 18% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
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. 4 non-independent directors. President & Director Kevin Chia was the last director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 10
Third quarter 2022 earnings released: EPS: NT$1.07 (vs NT$2.03 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.07 (down from NT$2.03 in 3Q 2021). Revenue: NT$689.9m (down 32% from 3Q 2021). Net income: NT$116.5m (down 47% from 3Q 2021). Profit margin: 17% (down from 22% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 08
Second quarter 2022 earnings released: EPS: NT$2.00 (vs NT$1.61 in 2Q 2021) Second quarter 2022 results: EPS: NT$2.00 (up from NT$1.61 in 2Q 2021). Revenue: NT$1.02b (up 7.5% from 2Q 2021). Net income: NT$217.7m (up 24% from 2Q 2021). Profit margin: 21% (up from 19% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improved over the past week After last week's 16% share price gain to NT$58.80, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 12x in the Semiconductor industry in Taiwan. Total returns to shareholders of 102% over the past three years. Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$64.50, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 13x in the Semiconductor industry in Taiwan. Total returns to shareholders of 129% over the past three years. Board Change • Jun 21
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. 4 non-independent directors. President & Director Kevin Chia was the last director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Jun 15
Upcoming dividend of NT$5.40 per share Eligible shareholders must have bought the stock before 22 June 2022. Payment date: 19 July 2022. Payout ratio is on the higher end at 75%, however this is supported by cash flows. Trailing yield: 7.1%. Within top quartile of Taiwanese dividend payers (6.1%). Higher than average of industry peers (3.1%). Announcement • Jun 09
Generalplus Technology Inc. Announces Remuneration Committee Changes Generalplus Technology Inc. announces board resolution to appoint Members of Remuneration Committee. Name of the previous position holder: Ching-Ming Chen; Chia-Ming Chai; Nai-Shin Lai. Resume of the previous position holder: Ching-Ming Chen--Independent Director of Generalplus Technology Inc.; Chia-Ming Chai--Independent Director of Generalplus Technology Inc.; Nai-Shin Lai--Independent Director of Generalplus Technology Inc. Name of the new position holder: Ching-Ming Chen; Chia-Ming Chai; Nai-Shin Lai. Resume of the new position holder: Ching-Ming Chen--Independent Director of Generalplus Technology Inc.; Chia-Ming Chai--Independent Director of Generalplus Technology Inc.; Nai-Shin Lai--Independent Director of Generalplus Technology Inc. Effective date of the new member is June 8, 2022. Announcement • Jun 07
Generalplus Technology Inc. Approves Cash Dividend Distribution, Payable on July 19, 2022 Generalplus Technology Inc. approved dividend distribution of TWD 5.4 per share. Ex-rights (ex-dividend) trading date is June 6, 2022. Last date before book closure is June 23, 2022. Book closure starting date is June 24, 2022. Book closure ending date is June 28, 2022. Ex-rights (ex-dividend) record date is June 28, 2022. Cash dividend payment date is July 19, 2022. Reported Earnings • May 09
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: NT$2.03 (up from NT$0.89 in 1Q 2021). Revenue: NT$971.1m (up 34% from 1Q 2021). Net income: NT$221.0m (up 128% from 1Q 2021). Profit margin: 23% (up from 13% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 16%. Over the last 3 years on average, earnings per share has increased by 45% 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 • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Vice Chairman S. R. Wang was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improved over the past week After last week's 15% share price gain to NT$80.00, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 19x in the Semiconductor industry in Taiwan. Total returns to shareholders of 152% over the past three years. Reported Earnings • Feb 24
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: NT$6.05 (up from NT$2.59 in FY 2020). Revenue: NT$3.58b (up 24% from FY 2020). Net income: NT$658.7m (up 134% from FY 2020). Profit margin: 18% (up from 9.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 16%. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS NT$2.03 (vs NT$0.91 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.01b (up 18% from 3Q 2020). Net income: NT$220.7m (up 123% from 3Q 2020). Profit margin: 22% (up from 12% 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 20% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improved over the past week After last week's 18% share price gain to NT$77.00, the stock trades at a trailing P/E ratio of 18.4x. Average trailing P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 140% over the past three years. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$1.61 (vs NT$0.73 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$947.8m (up 27% from 2Q 2020). Net income: NT$175.4m (up 119% from 2Q 2020). Profit margin: 19% (up from 11% 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 6% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 04
Upcoming dividend of NT$2.40 per share Eligible shareholders must have bought the stock before 11 August 2021. Payment date: 07 September 2021. Trailing yield: 3.0%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (2.1%). Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improved over the past week After last week's 22% share price gain to NT$70.70, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 24x in the Semiconductor industry in Taiwan. Total returns to shareholders of 109% over the past three years. Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$43.15, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 20x in the Semiconductor industry in Taiwan. Total returns to shareholders of 19% over the past three years. Reported Earnings • May 11
First quarter 2021 earnings released: EPS NT$0.89 (vs NT$0.18 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$724.9m (up 54% from 1Q 2020). Net income: NT$96.8m (up 403% from 1Q 2020). Profit margin: 13% (up from 4.1% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improved over the past week After last week's 15% share price gain to NT$56.50, the stock trades at a trailing P/E ratio of 21.8x. Average trailing P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 45% over the past three years. Announcement • Mar 03
Generalplus Technology Inc., Annual General Meeting, May 31, 2021 Generalplus Technology Inc., Annual General Meeting, May 31, 2021. Reported Earnings • Feb 27
Full year 2020 earnings released: EPS NT$2.59 (vs NT$2.06 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$2.90b (up 10% from FY 2019). Net income: NT$282.0m (up 26% from FY 2019). Profit margin: 9.7% (up from 8.5% 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 17% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improved over the past week After last week's 15% share price gain to NT$47.90, the stock is trading at a trailing P/E ratio of 23.2x, up from the previous P/E ratio of 20.1x. This compares to an average P/E of 29x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 16%. Is New 90 Day High Low • Feb 18
New 90-day high: NT$44.60 The company is up 18% from its price of NT$37.80 on 20 November 2020. The Taiwanese market is also up 18% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Semiconductor industry, which is up 35% over the same period. Is New 90 Day High Low • Jan 11
New 90-day high: NT$44.10 The company is up 27% from its price of NT$34.70 on 13 October 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Semiconductor industry, which is also up 27% over the same period. Is New 90 Day High Low • Nov 09
New 90-day high: NT$36.00 The company is up 21% from its price of NT$29.85 on 11 August 2020. The Taiwanese market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 3.0% over the same period. Reported Earnings • Nov 08
Third quarter 2020 earnings released: EPS NT$0.91 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$854.9m (up 20% from 3Q 2019). Net income: NT$99.0m (up 49% from 3Q 2019). Profit margin: 12% (up from 9.3% 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 21% per year whereas the company’s share price has fallen by 18% per year. Is New 90 Day High Low • Oct 08
New 90-day high: NT$34.10 The company is up 12% from its price of NT$30.40 on 10 July 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 18% over the same period.