Reported Earnings • Mar 28
Full year 2025 earnings released: NT$5.61 loss per share (vs NT$2.57 loss in FY 2024) Full year 2025 results: NT$5.61 loss per share (further deteriorated from NT$2.57 loss in FY 2024). Revenue: NT$3.26b (up 5.0% from FY 2024). Net loss: NT$704.2m (loss widened 126% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 135 percentage points per year, which is a significant difference in performance. Announcement • Mar 13
Bin Chuan Enterprise Co., Ltd., Annual General Meeting, Jun 29, 2026 Bin Chuan Enterprise Co., Ltd., Annual General Meeting, Jun 29, 2026. Location: 3 floor no,2, hsing yeh rd., daliao district, kaohsiung city Taiwan Announcement • Jan 21
Bin Chuan Enterprise Co., Ltd. announced that it expects to receive TWD 254.99 million in funding Bin Chuan Enterprise Co., Ltd announced a private placement to issue 5,930,000 common shares at a price of TWD 43 per share for aggregate gross proceeds of TWD 254,990,000 on January 20, 2026. The transaction has been approved by the board of directors. The transaction is expected to close between January 21, 2026 to February 3, 2026. Reported Earnings • Nov 15
Third quarter 2025 earnings released: NT$0.95 loss per share (vs NT$0.99 loss in 3Q 2024) Third quarter 2025 results: NT$0.95 loss per share. Revenue: NT$809.5m (down 4.6% from 3Q 2024). Net loss: NT$120.4m (flat on 3Q 2024). Reported Earnings • Aug 15
Second quarter 2025 earnings released: NT$2.28 loss per share (vs NT$0.64 loss in 2Q 2024) Second quarter 2025 results: NT$2.28 loss per share (further deteriorated from NT$0.64 loss in 2Q 2024). Revenue: NT$871.0m (up 13% from 2Q 2024). Net loss: NT$276.3m (loss widened 257% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 156 percentage points per year, which is a significant difference in performance. Announcement • Jun 20
Bin Chuan Enterprise Co., Ltd. Approves Board Elections Bin Chuan Enterprise Co., Ltd. approved the election of Directors: Hsiao Chin-Ming, Hsiao Chin-Chun and Huang Jen-Lung, at its 2025 Annual General Shareholders' Meeting held on June 19, 2025. Reported Earnings • May 15
First quarter 2025 earnings released: NT$1.33 loss per share (vs NT$0.02 profit in 1Q 2024) First quarter 2025 results: NT$1.33 loss per share (down from NT$0.02 profit in 1Q 2024). Revenue: NT$817.9m (up 32% from 1Q 2024). Net loss: NT$161.7m (down NT$164.2m from profit in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 150 percentage points per year, which is a significant difference in performance. Announcement • May 01
Bin Chuan Enterprise Co., Ltd. to Report Q1, 2025 Results on May 09, 2025 Bin Chuan Enterprise Co., Ltd. announced that they will report Q1, 2025 results on May 09, 2025 New Risk • Apr 06
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 6.5% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.5% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 40% per year over the past 5 years. Reported Earnings • Apr 01
Full year 2024 earnings released: NT$2.57 loss per share (vs NT$0.95 loss in FY 2023) Full year 2024 results: NT$2.57 loss per share (further deteriorated from NT$0.95 loss in FY 2023). Revenue: NT$3.10b (down 14% from FY 2023). Net loss: NT$311.6m (loss widened 170% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 151 percentage points per year, which is a significant difference in performance. Announcement • Mar 17
Bin Chuan Enterprise Co., Ltd., Annual General Meeting, Jun 19, 2025 Bin Chuan Enterprise Co., Ltd., Annual General Meeting, Jun 19, 2025. Location: 3 floor no,2, hsing yeh rd., daliao district, kaohsiung city Taiwan New Risk • Nov 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 8.1% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.1% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 424% Earnings have declined by 28% per year over the past 5 years. Reported Earnings • Nov 19
Third quarter 2024 earnings released: NT$0.99 loss per share (vs NT$0.48 profit in 3Q 2023) Third quarter 2024 results: NT$0.99 loss per share (down from NT$0.48 profit in 3Q 2023). Revenue: NT$848.8m (down 13% from 3Q 2023). Net loss: NT$119.9m (down 307% from profit in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 116 percentage points per year, which is a significant difference in performance. New Risk • Sep 04
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. Paying a dividend despite being loss-making. Cash payout ratio: 209% Earnings have declined by 15% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.4% average weekly change). Reported Earnings • Aug 19
Second quarter 2024 earnings released: NT$0.64 loss per share (vs NT$0.21 profit in 2Q 2023) Second quarter 2024 results: NT$0.64 loss per share (down from NT$0.21 profit in 2Q 2023). Revenue: NT$770.2m (down 17% from 2Q 2023). Net loss: NT$77.3m (down 399% from profit in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Aug 06
Now 20% undervalued Over the last 90 days, the stock has risen 8.8% to NT$25.90. The fair value is estimated to be NT$32.41, however this is not to be taken as a buy 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 64%. Declared Dividend • Aug 05
Dividend reduced to NT$1.00 Dividend of NT$1.00 is 50% lower than last year. Ex-date: 19th August 2024 Payment date: 13th September 2024 Dividend yield will be 3.6%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 5x earnings). However, it is well covered by cash flows (23% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 523% to bring the payout ratio under control. However, EPS has declined by 16% over the last 5 years so the company would need to reverse this trend. Announcement • Aug 02
Bin Chuan Enterprise Co., Ltd. to Report Q2, 2024 Results on Aug 12, 2024 Bin Chuan Enterprise Co., Ltd. announced that they will report Q2, 2024 results on Aug 12, 2024 Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.02 (vs NT$1.11 loss in 1Q 2023) First quarter 2024 results: EPS: NT$0.02 (up from NT$1.11 loss in 1Q 2023). Revenue: NT$620.6m (down 29% from 1Q 2023). Net income: NT$2.48m (up NT$137.0m from 1Q 2023). Profit margin: 0.4% (up from net loss in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Announcement • May 05
Bin Chuan Enterprise Co., Ltd. to Report Q1, 2024 Results on May 10, 2024 Bin Chuan Enterprise Co., Ltd. announced that they will report Q1, 2024 results on May 10, 2024 Reported Earnings • Mar 31
Full year 2023 earnings released: NT$0.95 loss per share (vs NT$3.23 profit in FY 2022) Full year 2023 results: NT$0.95 loss per share (down from NT$3.23 profit in FY 2022). Revenue: NT$3.61b (down 28% from FY 2022). Net loss: NT$115.4m (down 130% from profit in FY 2022). 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 7% per year, which means it has not declined as severely as earnings. Announcement • Mar 16
Bin Chuan Enterprise Co., Ltd., Annual General Meeting, Jun 19, 2024 Bin Chuan Enterprise Co., Ltd., Annual General Meeting, Jun 19, 2024. Location: Auditorium, 3F., No. 2, Hsingyeh Rd., Daliao District, Kaohsiung City, Kaohsiung Taiwan Agenda: To consider 2023 business report; Audit Committee's review of the 2023 annual final accounting ledgers and statements; Report on information on investment in mainland China; Report on endorsements/guarantees provided; and to discuss other matters. Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: NT$0.48 (vs NT$0.98 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.48 (down from NT$0.98 in 3Q 2022). Revenue: NT$976.5m (down 13% from 3Q 2022). Net income: NT$58.0m (down 51% from 3Q 2022). Profit margin: 5.9% (down from 11% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 36% 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. Upcoming Dividend • Aug 14
Upcoming dividend of NT$2.00 per share at 8.4% yield Eligible shareholders must have bought the stock before 21 August 2023. Payment date: 13 September 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 8.4%. Within top quartile of Taiwanese dividend payers (5.6%). Higher than average of industry peers (3.4%). Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: NT$0.21 (vs NT$1.16 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.21 (down from NT$1.16 in 2Q 2022). Revenue: NT$928.5m (down 31% from 2Q 2022). Net income: NT$25.9m (down 82% from 2Q 2022). Profit margin: 2.8% (down from 10% in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: NT$3.23 (vs NT$2.62 in FY 2021) Full year 2022 results: EPS: NT$3.23 (up from NT$2.62 in FY 2021). Revenue: NT$5.00b (up 4.9% from FY 2021). Net income: NT$391.4m (up 24% from FY 2021). Profit margin: 7.8% (up from 6.6% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.98 (vs NT$0.69 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.98 (up from NT$0.69 in 3Q 2021). Revenue: NT$1.12b (down 8.3% from 3Q 2021). Net income: NT$118.9m (up 43% from 3Q 2021). Profit margin: 11% (up from 6.8% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.98 (vs NT$0.69 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.98 (up from NT$0.69 in 3Q 2021). Revenue: NT$1.12b (down 8.3% from 3Q 2021). Net income: NT$118.9m (up 43% from 3Q 2021). Profit margin: 11% (up from 6.8% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: NT$1.16 (vs NT$0.23 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.16 (up from NT$0.23 in 2Q 2021). Revenue: NT$1.35b (up 38% from 2Q 2021). Net income: NT$140.8m (up 416% from 2Q 2021). Profit margin: 10% (up from 2.8% 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 44% 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 • Aug 04
Upcoming dividend of NT$1.60 per share Eligible shareholders must have bought the stock before 11 August 2022. Payment date: 02 September 2022. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 6.4%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (7.4%). Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$1.21 (vs NT$0.59 in 1Q 2021) First quarter 2022 results: EPS: NT$1.21 (up from NT$0.59 in 1Q 2021). Revenue: NT$1.49b (up 33% from 1Q 2021). Net income: NT$145.9m (up 105% from 1Q 2021). Profit margin: 9.8% (up from 6.3% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: NT$2.62 (vs NT$3.42 in FY 2020) Full year 2021 results: EPS: NT$2.62 (down from NT$3.42 in FY 2020). Revenue: NT$4.77b (down 3.5% from FY 2020). Net income: NT$315.4m (down 20% from FY 2020). Profit margin: 6.6% (down from 8.0% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.69 (vs NT$1.03 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.22b (down 4.4% from 3Q 2020). Net income: NT$82.9m (down 30% from 3Q 2020). Profit margin: 6.8% (down from 9.2% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$22.70, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 14x in the Tech industry in Taiwan. Total returns to shareholders of 33% over the past three years. Upcoming Dividend • Sep 27
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 04 October 2021. Payment date: 22 October 2021. Trailing yield: 5.7%. Within top quartile of Taiwanese dividend payers (5.2%). In line with average of industry peers (5.2%). Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$0.23 (vs NT$1.36 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$974.5m (down 34% from 2Q 2020). Net income: NT$27.3m (down 82% from 2Q 2020). Profit margin: 2.8% (down from 11% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improved over the past week After last week's 16% share price gain to NT$29.45, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 15x in the Tech industry in Taiwan. Total returns to shareholders of 23% over the past three years. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.59 (vs NT$0.15 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.13b (up 21% from 1Q 2020). Net income: NT$71.1m (up 311% from 1Q 2020). Profit margin: 6.3% (up from 1.9% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 14
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$24.40, the stock trades at a trailing P/E ratio of 7.1x. Average trailing P/E is 15x in the Tech industry in Taiwan. Total loss to shareholders of 5.8% over the past three years. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improved over the past week After last week's 17% share price gain to NT$34.30, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 19x in the Tech industry in Taiwan. Total returns to shareholders of 30% over the past three years. Reported Earnings • Apr 01
Full year 2020 earnings released: EPS NT$3.42 (vs NT$1.01 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$4.94b (up 11% from FY 2019). Net income: NT$394.6m (up 248% from FY 2019). Profit margin: 8.0% (up from 2.6% 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 24% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 20
New 90-day low: NT$26.35 The company is down 8.0% from its price of NT$28.60 on 23 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 14% over the same period. Is New 90 Day High Low • Nov 18
New 90-day high: NT$32.85 The company is up 14% from its price of NT$28.80 on 20 August 2020. The Taiwanese market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Tech industry, which is down 4.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$1.03 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.28b (up 15% from 3Q 2019). Net income: NT$117.8m (up NT$98.6m from 3Q 2019). Profit margin: 9.2% (up from 1.7% 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 8% per year whereas the company’s share price has fallen by 7% per year.