Reported Earnings • 3h
Second quarter 2026 earnings released: NT$0.25 loss per share (vs NT$0.21 loss in 2Q 2025) Second quarter 2026 results: NT$0.25 loss per share (further deteriorated from NT$0.21 loss in 2Q 2025). Revenue: NT$215.3m (flat on 2Q 2025). Net loss: NT$16.9m (loss widened 19% from 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 19
Upcoming dividend of NT$0.40 per share Eligible shareholders must have bought the stock before 26 June 2026. Payment date: 23 July 2026. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Taiwanese dividend payers (4.8%). In line with average of industry peers (1.0%). Reported Earnings • May 17
First quarter 2026 earnings released: NT$0.48 loss per share (vs NT$0.43 profit in 1Q 2025) First quarter 2026 results: NT$0.48 loss per share (down from NT$0.43 profit in 1Q 2025). Revenue: NT$161.2m (down 9.7% from 1Q 2025). Net loss: NT$32.6m (down 212% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 35% 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 • Apr 27
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to NT$39.90, the stock trades at a trailing P/E ratio of 79x. Average trailing P/E is 43x in the Semiconductor industry in Taiwan. Total returns to shareholders of 44% over the past three years. New Risk • Apr 20
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 8.7% 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: Major Risks Earnings have declined by 21% per year over the past 5 years. High level of non-cash earnings (22% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Profit margins are more than 30% lower than last year (4.1% net profit margin). Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: NT$0.51 (vs NT$2.46 in FY 2024) Full year 2025 results: EPS: NT$0.51 (down from NT$2.46 in FY 2024). Revenue: NT$843.7m (down 1.9% from FY 2024). Net income: NT$34.5m (down 79% from FY 2024). Profit margin: 4.1% (down from 19% in FY 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Mar 10
Brightek Optoelectronic Co., Ltd., Annual General Meeting, May 27, 2026 Brightek Optoelectronic Co., Ltd., Annual General Meeting, May 27, 2026, at 10:00 Taipei Standard Time. Location: 3 floor no,300, sec.1 chuang ching rd., taoyuan city Taiwan Reported Earnings • Nov 13
Third quarter 2025 earnings released: EPS: NT$0.42 (vs NT$0.63 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.42 (down from NT$0.63 in 3Q 2024). Revenue: NT$221.4m (down 3.9% from 3Q 2024). Net income: NT$28.8m (down 33% from 3Q 2024). Profit margin: 13% (down from 19% in 3Q 2024). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Board Change • Oct 23
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Ling-Jong Lee 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. New Risk • Sep 24
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.01b (US$99.2m) 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 94% Paying a dividend despite having no free cash flows. Earnings have declined by 11% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (13% net profit margin). Market cap is less than US$100m (NT$3.01b market cap, or US$99.2m). New Risk • Aug 17
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 93% The company is paying a dividend despite having no free cash flows. Dividend yield: 3.1% 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: 93% Paying a dividend despite having no free cash flows. Earnings have declined by 11% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Profit margins are more than 30% lower than last year (13% net profit margin). Reported Earnings • Aug 17
Second quarter 2025 earnings released: NT$0.21 loss per share (vs NT$0.50 profit in 2Q 2024) Second quarter 2025 results: NT$0.21 loss per share (down from NT$0.50 profit in 2Q 2024). Revenue: NT$214.7m (down 1.1% from 2Q 2024). Net loss: NT$14.2m (down 142% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 04
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 11 July 2025. Payment date: 08 August 2025. Payout ratio is a comfortable 65% but the company is paying out more than the cash it is generating. Trailing yield: 3.2%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.2%). New Risk • May 20
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 10% 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 (10% average weekly change). Earnings have declined by 6.8% per year over the past 5 years. Minor Risk Dividend is not well covered by cash flows (332% cash payout ratio). Reported Earnings • May 15
First quarter 2025 earnings released: EPS: NT$0.43 (vs NT$0.57 in 1Q 2024) First quarter 2025 results: EPS: NT$0.43 (down from NT$0.57 in 1Q 2024). Revenue: NT$178.5m (down 2.7% from 1Q 2024). Net income: NT$29.2m (down 25% from 1Q 2024). Profit margin: 16% (down from 21% in 1Q 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • May 01
Brightek Optoelectronic Co., Ltd. to Report Q1, 2025 Results on May 07, 2025 Brightek Optoelectronic Co., Ltd. announced that they will report Q1, 2025 results on May 07, 2025 Buy Or Sell Opportunity • Apr 15
Now 24% overvalued Over the last 90 days, the stock has fallen 12% to NT$39.55. The fair value is estimated to be NT$31.80, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 24%. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to NT$34.95, the stock trades at a trailing P/E ratio of 14.2x. Average trailing P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 7.5% over the past three years. Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$51.00, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 40% over the past three years. Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$2.46 (vs NT$2.40 in FY 2023) Full year 2024 results: EPS: NT$2.46 (up from NT$2.40 in FY 2023). Revenue: NT$860.0m (down 2.4% from FY 2023). Net income: NT$166.9m (up 2.6% from FY 2023). Profit margin: 19% (in line with FY 2023). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Mar 07
Brightek Optoelectronic Co., Ltd., Annual General Meeting, May 28, 2025 Brightek Optoelectronic Co., Ltd., Annual General Meeting, May 28, 2025. Location: 3 floor no,300, sec.1 chuang ching rd., taoyuan city Taiwan Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$49.65, the stock trades at a trailing P/E ratio of 20.2x. Average trailing P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 15% over the past three years. New Risk • Jan 03
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.23b (US$98.0m) 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 0.3% per year over the past 5 years. 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 (6.8% average weekly change). Market cap is less than US$100m (NT$3.23b market cap, or US$98.0m). New Risk • Dec 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 6.3% 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 0.3% per year over the past 5 years. 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 (6.3% average weekly change). Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$47.35, the stock trades at a trailing P/E ratio of 19.2x. Average trailing P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 4.4% over the past three years. Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.63 (vs NT$0.65 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.63 (down from NT$0.65 in 3Q 2023). Revenue: NT$230.5m (up 2.3% from 3Q 2023). Net income: NT$43.0m (down 2.4% from 3Q 2023). Profit margin: 19% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 29% 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. Announcement • Oct 30
Brightek Optoelectronic Co., Ltd. to Report Q3, 2024 Results on Nov 06, 2024 Brightek Optoelectronic Co., Ltd. announced that they will report Q3, 2024 results on Nov 06, 2024 Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: NT$0.50 (vs NT$0.53 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.50 (down from NT$0.53 in 2Q 2023). Revenue: NT$217.2m (up 8.8% from 2Q 2023). Net income: NT$34.3m (down 4.0% from 2Q 2023). Profit margin: 16% (down from 18% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. 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$40.40, the stock trades at a trailing P/E ratio of 16.2x. Average trailing P/E is 26x in the Semiconductor industry in Taiwan. Negligible returns to shareholders over past three years. Announcement • Aug 01
Brightek Optoelectronic Co., Ltd. to Report Q2, 2024 Results on Aug 08, 2024 Brightek Optoelectronic Co., Ltd. announced that they will report Q2, 2024 results on Aug 08, 2024 Declared Dividend • Jun 05
Dividend of NT$1.20 announced Shareholders will receive a dividend of NT$1.20. Ex-date: 18th June 2024 Payment date: 23rd July 2024 Dividend yield will be 2.6%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (48% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 12% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.57 (vs NT$0.47 in 1Q 2023) First quarter 2024 results: EPS: NT$0.57 (up from NT$0.47 in 1Q 2023). Revenue: NT$183.5m (down 5.1% from 1Q 2023). Net income: NT$38.8m (up 22% from 1Q 2023). Profit margin: 21% (up from 16% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • May 03
Brightek Optoelectronic Co., Ltd. to Report Q1, 2024 Results on May 09, 2024 Brightek Optoelectronic Co., Ltd. announced that they will report Q1, 2024 results on May 09, 2024 New Risk • Mar 29
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.19b (US$99.6m) 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: Minor Risks Dividend is not well covered by cash flows (97% cash payout ratio). Market cap is less than US$100m (NT$3.19b market cap, or US$99.6m). New Risk • Mar 26
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: Minor Risks Dividend is not well covered by cash flows (97% cash payout ratio). Share price has been volatile over the past 3 months (6.1% average weekly change). Reported Earnings • Mar 09
Full year 2023 earnings released: EPS: NT$2.40 (vs NT$2.58 in FY 2022) Full year 2023 results: EPS: NT$2.40 (down from NT$2.58 in FY 2022). Revenue: NT$881.5m (down 4.2% from FY 2022). Net income: NT$162.7m (down 6.7% from FY 2022). Profit margin: 19% (in line with FY 2022). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Mar 08
Brightek Optoelectronic Co., Ltd., Annual General Meeting, May 28, 2024 Brightek Optoelectronic Co., Ltd., Annual General Meeting, May 28, 2024. Location: No. 300, Sec. 1, Zhuangjing Rd., Tao Yuan City Taiwan Agenda: To consider 2023 Business Report; to consider audit Committees report on the review of the 2023 final accounts; to report on the 2023 distribution proposal of employee compensation and remuneration to directors; to consider amendments to the Company's Sustainable Development Best Practice Principles Board Meeting Rules; and to transact other business. New Risk • Jan 30
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 5.4% 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: 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 (5.4% average weekly change). Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: NT$0.52 (vs NT$0.59 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.52 (down from NT$0.59 in 2Q 2022). Revenue: NT$199.6m (down 14% from 2Q 2022). Net income: NT$35.7m (down 11% from 2Q 2022). Profit margin: 18% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 05
Upcoming dividend of NT$1.50 per share at 4.7% yield Eligible shareholders must have bought the stock before 12 June 2023. Payment date: 18 July 2023. Payout ratio is a comfortable 67% but the company is paying out more than the cash it is generating. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (5.6%). Higher than average of industry peers (3.3%). Reported Earnings • Mar 23
Full year 2022 earnings released: EPS: NT$2.58 (vs NT$5.05 in FY 2021) Full year 2022 results: EPS: NT$2.58 (down from NT$5.05 in FY 2021). Revenue: NT$920.1m (down 26% from FY 2021). Net income: NT$174.5m (down 43% from FY 2021). Profit margin: 19% (down from 25% 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 12% 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 • Feb 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$31.35, the stock trades at a trailing P/E ratio of 10.3x. Average trailing P/E is 13x in the Semiconductor industry in Taiwan. Total returns to shareholders of 195% over the past three years. Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improved over the past week After last week's 16% share price gain to NT$27.70, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 13x in the Semiconductor industry in Taiwan. Total returns to shareholders of 167% over the past three years. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.40 (vs NT$0.96 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.40 (down from NT$0.96 in 3Q 2021). Revenue: NT$194.0m (down 33% from 3Q 2021). Net income: NT$27.4m (down 53% from 3Q 2021). Profit margin: 14% (down from 20% 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 24% per year whereas the company’s share price has increased by 22% per year. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.40 (vs NT$0.96 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.40 (down from NT$0.96 in 3Q 2021). Revenue: NT$194.0m (down 33% from 3Q 2021). Net income: NT$27.4m (down 53% from 3Q 2021). Profit margin: 14% (down from 20% 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 24% per year whereas the company’s share price has increased by 20% per year. Reported Earnings • Aug 15
Second quarter 2022 earnings released Second quarter 2022 results: EPS: NT$0.59. Net income: NT$40.0m (up NT$40.0m from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 17
Upcoming dividend of NT$3.00 per share Eligible shareholders must have bought the stock before 24 June 2022. Payment date: 15 July 2022. Payout ratio is a comfortable 68% but the company is paying out more than the cash it is generating. Trailing yield: 8.6%. Within top quartile of Taiwanese dividend payers (6.1%). Higher than average of industry peers (3.3%). Reported Earnings • May 13
First quarter 2022 earnings released: EPS: NT$0.83 (vs NT$1.35 in 1Q 2021) First quarter 2022 results: EPS: NT$0.83 (down from NT$1.35 in 1Q 2021). Revenue: NT$261.6m (down 19% from 1Q 2021). Net income: NT$55.2m (down 32% from 1Q 2021). Profit margin: 21% (down from 25% in 1Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Mar 17
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$5.05 (up from NT$3.43 in FY 2020). Revenue: NT$1.24b (up 35% from FY 2020). Net income: NT$304.7m (up 47% from FY 2020). Profit margin: 25% (up from 22% 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 48% per year but the company’s share price has increased by 59% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS NT$0.96 (vs NT$1.17 in 3Q 2020) The company reported a poor third quarter result with weaker earnings and profit margins, although revenues were flat. Third quarter 2021 results: Revenue: NT$288.0m (flat on 3Q 2020). Net income: NT$57.8m (down 18% from 3Q 2020). Profit margin: 20% (down from 24% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has increased by 74% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 23
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 30 August 2021. Payment date: 16 September 2021. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.3%). Reported Earnings • Aug 18
First half 2021 earnings released: EPS NT$2.69 (vs NT$1.09 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: NT$646.0m (up 88% from 1H 2020). Net income: NT$162.6m (up 148% from 1H 2020). Profit margin: 25% (up from 19% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has increased by 58% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$42.20, the stock trades at a trailing P/E ratio of 12.3x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 259% over the past three years. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improved over the past week After last week's 18% share price gain to NT$60.20, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 29x in the Semiconductor industry in Taiwan. Total returns to shareholders of 432% over the past three years. Reported Earnings • Mar 26
Full year 2020 earnings released: EPS NT$3.43 (vs NT$2.11 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$922.4m (up 24% from FY 2019). Net income: NT$207.0m (up 63% from FY 2019). Profit margin: 22% (up from 17% 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 26% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improved over the past week After last week's 15% share price gain to NT$45.50, the stock trades at a trailing P/E ratio of 17.9x. Average trailing P/E is 28x in the Semiconductor industry in Taiwan. Total returns to shareholders of 347% over the past three years. Is New 90 Day High Low • Mar 04
New 90-day high: NT$38.95 The company is up 48% from its price of NT$26.35 on 04 December 2020. The Taiwanese market is up 15% 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. Is New 90 Day High Low • Feb 04
New 90-day high: NT$32.80 The company is up 35% from its price of NT$24.30 on 06 November 2020. The Taiwanese market is up 21% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 38% over the same period. Is New 90 Day High Low • Jan 19
New 90-day high: NT$32.00 The company is up 32% from its price of NT$24.30 on 22 October 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 34% over the same period. Is New 90 Day High Low • Jan 04
New 90-day high: NT$28.30 The company is up 14% from its price of NT$24.75 on 07 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 25% over the same period. Is New 90 Day High Low • Dec 04
New 90-day high: NT$26.00 The company is up 24% from its price of NT$20.90 on 04 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 19% over the same period. Is New 90 Day High Low • Oct 26
New 90-day high: NT$25.55 The company is up 65% from its price of NT$15.45 on 28 July 2020. The Taiwanese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 5.0% over the same period. Is New 90 Day High Low • Oct 05
New 90-day high: NT$25.10 The company is up 67% from its price of NT$15.00 on 07 July 2020. The Taiwanese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 18% over the same period. 
