New Risk • Mar 23
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.15b (US$98.7m) 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 Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (NT$3.15b market cap, or US$98.7m). Reported Earnings • Mar 11
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: NT$4.04. Revenue: NT$1.57b (up 9.7% from FY 2024). Net income: NT$102.8m (up 7.7% from FY 2024). Profit margin: 6.6% (down from 6.7% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates by 12%. Announcement • Mar 06
GrandTech Cloud Services Inc., Annual General Meeting, Jun 04, 2026 GrandTech Cloud Services Inc., Annual General Meeting, Jun 04, 2026. Location: 5 floor no,41 ln.76, jui kuang rd., neihu district, taipei city Taiwan Board Change • Mar 02
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 Xu Lun Chen was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Nov 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 06
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: NT$0.86 (down from NT$1.16 in 3Q 2024). Revenue: NT$357.3m (down 5.5% from 3Q 2024). Net income: NT$23.2m (down 15% from 3Q 2024). Profit margin: 6.5% (down from 7.2% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 25%. Earnings per share (EPS) also missed analyst estimates by 22%. Revenue is forecast to grow 28% p.a. on average during the next 2 years, compared to a 12% growth forecast for the IT industry in Taiwan. New Risk • Oct 31
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.07b (US$99.9m) 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$139, the stock trades at a trailing P/E ratio of 31.9x. Average forward P/E is 21x in the IT industry in Taiwan. Total loss to shareholders of 7.9% over the past year. Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$164, the stock trades at a trailing P/E ratio of 37.5x. Average forward P/E is 21x in the IT industry in Taiwan. Total returns to shareholders of 8.3% over the past year. New Risk • Jul 01
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 8.8% 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 (35% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (8.8% average weekly change). Announcement • Jun 10
GrandTech Cloud Services Inc. has filed a Follow-on Equity Offering in the amount of TWD 3.648 million. GrandTech Cloud Services Inc. has filed a Follow-on Equity Offering in the amount of TWD 3.648 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 38,000
Price\Range: TWD 96 New Risk • May 28
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 33% 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. This is currently the only risk that has been identified for the company. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$1.25 (vs NT$0.95 in 1Q 2024) First quarter 2025 results: EPS: NT$1.25 (up from NT$0.95 in 1Q 2024). Revenue: NT$432.9m (up 31% from 1Q 2024). Net income: NT$29.5m (up 33% from 1Q 2024). Profit margin: 6.8% (up from 6.7% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 13% growth forecast for the IT industry in Taiwan. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$113, the stock trades at a trailing P/E ratio of 28x. Average trailing P/E is 21x in the IT industry in Taiwan. Reported Earnings • Mar 15
Full year 2024 earnings released: EPS: NT$4.07 (vs NT$3.35 in FY 2023) Full year 2024 results: EPS: NT$4.07 (up from NT$3.35 in FY 2023). Revenue: NT$1.43b (up 36% from FY 2023). Net income: NT$95.5m (up 41% from FY 2023). Profit margin: 6.7% (up from 6.4% in FY 2023). The increase in margin was driven by higher revenue. Announcement • Feb 26
GrandTech Cloud Services Inc., Annual General Meeting, Jun 10, 2025 GrandTech Cloud Services Inc., Annual General Meeting, Jun 10, 2025. Location: no,28 ln.420, sec.5 ch`eng kung rd., neihu district, taipei city Taiwan Reported Earnings • Nov 18
Third quarter 2024 earnings released Third quarter 2024 results: EPS: NT$1.16. Net income: NT$27.2m (up NT$27.2m from 3Q 2023). Revenue is forecast to grow 88% p.a. on average during the next 2 years, compared to a 17% growth forecast for the IT industry in Taiwan. New Risk • Nov 15
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.25b (US$100.0m) 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 High level of non-cash earnings (25% accrual ratio). Minor Risks Less than 3 years of financial data is available. Market cap is less than US$100m (NT$3.25b market cap, or US$100.0m). Reported Earnings • Aug 17
First half 2024 earnings released First half 2024 results: EPS: NT$1.90. Net income: NT$44.4m (up NT$44.4m from 1H 2023). Revenue is forecast to grow 84% p.a. on average during the next 2 years, compared to a 17% growth forecast for the IT industry in Taiwan. New Risk • Aug 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.10b (US$94.8m) 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 Less than 3 years of financial data is available. Share price has been volatile over the past 3 months (7.9% average weekly change). Market cap is less than US$100m (NT$3.10b market cap, or US$94.8m). Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$163, the stock trades at a trailing P/E ratio of 56.5x. Average forward P/E is 20x in the IT industry in Taiwan.