Reported Earnings • Mar 31
Full year 2025 earnings released: NT$0.77 loss per share (vs NT$1.17 loss in FY 2024) Full year 2025 results: NT$0.77 loss per share (improved from NT$1.17 loss in FY 2024). Revenue: NT$218.6m (up 34% from FY 2024). Net loss: NT$24.8m (loss narrowed 34% from FY 2024). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Mar 03
Penpower Technology LTD., Annual General Meeting, Jun 25, 2026 Penpower Technology LTD., Annual General Meeting, Jun 25, 2026. Location: 1 floor no,47 ln.2, sec.2 kuang fu rd., hsinchu city Taiwan Reported Earnings • Nov 13
Third quarter 2025 earnings released: NT$0.09 loss per share (vs NT$0.40 loss in 3Q 2024) Third quarter 2025 results: NT$0.09 loss per share (improved from NT$0.40 loss in 3Q 2024). Revenue: NT$61.6m (up 53% from 3Q 2024). Net loss: NT$2.86m (loss narrowed 77% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 10% per year. Reported Earnings • Aug 13
Second quarter 2025 earnings released: NT$0.31 loss per share (vs NT$0.31 loss in 2Q 2024) Second quarter 2025 results: NT$0.31 loss per share. Revenue: NT$53.8m (up 23% from 2Q 2024). Net loss: NT$9.79m (flat on 2Q 2024). New Risk • May 19
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: NT$42m (US$1.4m) This is considered a minor risk. Companies with a small amount of revenue 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 38% per year over the past 5 years. Minor Risks Revenue is less than US$5m (NT$42m revenue, or US$1.4m). Market cap is less than US$100m (NT$741.4m market cap, or US$24.5m). Announcement • Mar 05
Penpower Technology LTD., Annual General Meeting, Jun 27, 2025 Penpower Technology LTD., Annual General Meeting, Jun 27, 2025. Location: 1 floor no,47 ln.2, sec.2 kuang fu rd., hsinchu city Taiwan Reported Earnings • Nov 19
Third quarter 2024 earnings released: NT$0.40 loss per share (vs NT$0.049 loss in 3Q 2023) Third quarter 2024 results: NT$0.40 loss per share (further deteriorated from NT$0.049 loss in 3Q 2023). Revenue: NT$40.2m (down 16% from 3Q 2023). Net loss: NT$12.7m (loss widened NT$11.1m from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 15
Second quarter 2024 earnings released: NT$0.31 loss per share (vs NT$0.20 loss in 2Q 2023) Second quarter 2024 results: NT$0.31 loss per share (further deteriorated from NT$0.20 loss in 2Q 2023). Revenue: NT$43.7m (up 23% from 2Q 2023). Net loss: NT$9.85m (loss widened 52% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance. Reported Earnings • May 19
First quarter 2024 earnings released: NT$0.21 loss per share (vs NT$4.08 loss in 1Q 2023) First quarter 2024 results: NT$0.21 loss per share (improved from NT$4.08 loss in 1Q 2023). Revenue: NT$41.0m (up 15% from 1Q 2023). Net loss: NT$6.85m (loss narrowed 95% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 112 percentage points per year, which is a significant difference in performance. Announcement • Mar 30
Penpower Technology LTD., Annual General Meeting, Jun 27, 2024 Penpower Technology LTD., Annual General Meeting, Jun 27, 2024. New Risk • Jan 25
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: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 41% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.4% average weekly change). Market cap is less than US$100m (NT$835.8m market cap, or US$26.7m). Reported Earnings • Nov 14
Third quarter 2023 earnings released: NT$0.05 loss per share (vs NT$0.43 profit in 3Q 2022) Third quarter 2023 results: NT$0.05 loss per share (down from NT$0.43 profit in 3Q 2022). Revenue: NT$48.0m (up 28% from 3Q 2022). Net loss: NT$1.58m (down 112% from profit in 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 12
Second quarter 2023 earnings released: NT$0.02 loss per share (vs NT$0.79 profit in 2Q 2022) Second quarter 2023 results: NT$0.02 loss per share (down from NT$0.79 profit in 2Q 2022). Revenue: NT$35.5m (down 8.5% from 2Q 2022). Net loss: NT$6.49m (down 126% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 25
Upcoming dividend of NT$0.75 per share at 3.1% yield Eligible shareholders must have bought the stock before 01 August 2023. Payment date: 28 August 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (2.5%). Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$28.60, the stock trades at a trailing P/E ratio of 30.6x. Average trailing P/E is 21x in the Software industry in Taiwan. Total returns to shareholders of 120% over the past three years. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$34.45, the stock trades at a trailing P/E ratio of 36.8x. Average trailing P/E is 20x in the Software industry in Taiwan. Total returns to shareholders of 176% over the past three years. Reported Earnings • Mar 21
Full year 2022 earnings released: EPS: NT$0.94 (vs NT$1.48 in FY 2021) Full year 2022 results: EPS: NT$0.94 (down from NT$1.48 in FY 2021). Revenue: NT$147.6m (up 16% from FY 2021). Net income: NT$30.0m (down 37% from FY 2021). Profit margin: 20% (down from 37% in FY 2021). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to NT$29.95, the stock trades at a trailing P/E ratio of 29.5x. Average trailing P/E is 19x in the Software industry in Taiwan. Total returns to shareholders of 187% over the past three years. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$23.65, the stock trades at a trailing P/E ratio of 23.3x. Average trailing P/E is 18x in the Software industry in Taiwan. Total returns to shareholders of 65% over the past three years. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.43 (vs NT$0.24 loss in 3Q 2021) Third quarter 2022 results: EPS: NT$0.43 (up from NT$0.24 loss in 3Q 2021). Revenue: NT$37.5m (up 14% from 3Q 2021). Net income: NT$13.8m (up NT$21.4m from 3Q 2021). Profit margin: 37% (up from net loss in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.43 (vs NT$0.24 loss in 3Q 2021) Third quarter 2022 results: EPS: NT$0.43 (up from NT$0.24 loss in 3Q 2021). Revenue: NT$37.5m (up 14% from 3Q 2021). Net income: NT$13.8m (up NT$21.4m from 3Q 2021). Profit margin: 37% (up from net loss in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 19% share price decline to NT$18.25, the stock trades at a trailing P/E ratio of 52.2x. Average trailing P/E is 15x in the Software industry in Taiwan. Total returns to shareholders of 4.0% over the past three years. Reported Earnings • Aug 17
Second quarter 2022 earnings released: EPS: NT$0.79 (vs NT$2.12 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.79 (down from NT$2.12 in 2Q 2021). Revenue: NT$38.8m (up 24% from 2Q 2021). Net income: NT$25.2m (down 63% from 2Q 2021). Profit margin: 65% (down from 216% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 21
Upcoming dividend of NT$0.70 per share Eligible shareholders must have bought the stock before 28 June 2022. Payment date: 27 July 2022. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (6.3%). Higher than average of industry peers (2.9%). Reported Earnings • May 19
First quarter 2022 earnings released: EPS: NT$0.09 (vs NT$0.12 loss in 1Q 2021) First quarter 2022 results: EPS: NT$0.09 (up from NT$0.12 loss in 1Q 2021). Revenue: NT$33.7m (up 7.2% from 1Q 2021). Net income: NT$2.80m (up NT$6.68m from 1Q 2021). Profit margin: 8.3% (up from net loss in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 04
Full year 2021 earnings released: EPS: NT$1.48 (vs NT$0.31 loss in FY 2020) Full year 2021 results: EPS: NT$1.48 (up from NT$0.31 loss in FY 2020). Revenue: NT$127.8m (down 18% from FY 2020). Net income: NT$47.3m (up NT$57.2m from FY 2020). Profit margin: 37% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 15
Third quarter 2021 earnings released: NT$0.24 loss per share (vs NT$0.11 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: NT$32.8m (down 4.9% from 3Q 2020). Net loss: NT$7.61m (loss widened 113% from 3Q 2020). 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 15% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment improved over the past week After last week's 16% share price gain to NT$24.80, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 18x in the Software industry in Taiwan. Total returns to shareholders of 50% over the past three years. Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment improved over the past week After last week's 17% share price gain to NT$19.00, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 18x in the Software industry in Taiwan. Total returns to shareholders of 13% over the past three years. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$2.12 (vs NT$0.059 loss in 2Q 2020) Second quarter 2021 results: Revenue: NT$31.4m (down 32% from 2Q 2020). Net income: NT$68.0m (up NT$69.9m from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • May 16
First quarter 2021 earnings released: NT$0.12 loss per share (vs NT$0.014 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: NT$31.4m (down 24% from 1Q 2020). Net loss: NT$3.88m (loss widened NT$3.44m from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 57% 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 • Mar 27
Full year 2020 earnings released: NT$0.31 loss per share (vs NT$0.56 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: NT$156.2m (down 14% from FY 2019). Net loss: NT$9.93m (down 155% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Dec 30
New 90-day high: NT$16.70 The company is up 12% from its price of NT$14.85 on 30 September 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Software industry, which is flat over the same period. Is New 90 Day High Low • Dec 03
New 90-day high: NT$15.40 The company is up 3.0% from its price of NT$15.00 on 04 September 2020. The Taiwanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Software industry, which is down 3.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: NT$0.11 loss per share The company reported a soft third quarter result with weaker revenues and control over expenses, though losses reduced. Third quarter 2020 results: Revenue: NT$34.5m (down 24% from 3Q 2019). Net loss: NT$3.57m (loss narrowed 20% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 35% 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.