Reported Earnings • Mar 14
Full year 2025 earnings released: NT$0.48 loss per share (vs NT$0.48 loss in FY 2024) Full year 2025 results: NT$0.48 loss per share (improved from NT$0.48 loss in FY 2024). Revenue: NT$7.34b (up 17% from FY 2024). Net loss: NT$36.5m (loss narrowed 1.5% from FY 2024). Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 3% per year. Announcement • Mar 12
Sunnic Technology & Merchandise Inc, Annual General Meeting, Jun 09, 2026 Sunnic Technology & Merchandise Inc, Annual General Meeting, Jun 09, 2026. Location: no,88 ln.527, ta yeh rd., beitou district, taipei city Taiwan New Risk • Jan 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 6.5% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 52% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (NT$1.18b market cap, or US$37.5m). Board Change • Dec 09
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 Shao-Jen Weng was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 14
Third quarter 2025 earnings released: NT$0.18 loss per share (vs NT$0.22 loss in 3Q 2024) Third quarter 2025 results: NT$0.18 loss per share (improved from NT$0.22 loss in 3Q 2024). Revenue: NT$1.74b (flat on 3Q 2024). Net loss: NT$13.4m (loss narrowed 19% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 34% 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. Reported Earnings • Aug 17
Second quarter 2025 earnings released: NT$0.18 loss per share (vs NT$0.019 loss in 2Q 2024) Second quarter 2025 results: NT$0.18 loss per share (further deteriorated from NT$0.019 loss in 2Q 2024). Revenue: NT$1.80b (up 7.4% from 2Q 2024). Net loss: NT$13.4m (loss widened NT$11.9m from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 60% 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. New Risk • May 17
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. 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 (currently running at an operating cash loss). Earnings have declined by 51% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$1.02b market cap, or US$33.7m). Reported Earnings • May 17
First quarter 2025 earnings released: NT$0.30 loss per share (vs NT$0.17 loss in 1Q 2024) First quarter 2025 results: NT$0.30 loss per share (further deteriorated from NT$0.17 loss in 1Q 2024). Revenue: NT$1.35b (up 21% from 1Q 2024). Net loss: NT$22.5m (loss widened 72% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Announcement • Apr 29
Sunnic Technology & Merchandise Inc to Report Q1, 2025 Results on May 06, 2025 Sunnic Technology & Merchandise Inc announced that they will report Q1, 2025 results on May 06, 2025 New Risk • Apr 07
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 49% per year over the past 5 years. Minor Risks High level of debt (42% net debt to equity). Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (NT$947.4m market cap, or US$28.7m). Announcement • Mar 21
Sunnic Technology & Merchandise Inc Announces Executive Changes Sunnic Technology & Merchandise Inc. announced the appointment of LIN,HUEI-JYUN as Acting principal accounting officer, effective 21 March 2025. Resume of the new position holder: Finance Division Assistant manager. The company announced the resignation of HSU,CHE-WEI as principal accounting officer. Reported Earnings • Mar 21
Full year 2024 earnings released: NT$0.48 loss per share (vs NT$1.47 loss in FY 2023) Full year 2024 results: NT$0.48 loss per share (improved from NT$1.47 loss in FY 2023). Revenue: NT$6.26b (down 14% from FY 2023). Net loss: NT$37.0m (loss narrowed 67% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Announcement • Mar 12
Sunnic Technology & Merchandise Inc, Annual General Meeting, May 28, 2025 Sunnic Technology & Merchandise Inc, Annual General Meeting, May 28, 2025. Location: no,88 ln.527, ta yeh rd., beitou district, taipei city Taiwan Announcement • Mar 04
Sunnic Technology & Merchandise Inc to Report Fiscal Year 2024 Results on Mar 11, 2025 Sunnic Technology & Merchandise Inc announced that they will report fiscal year 2024 results on Mar 11, 2025 New Risk • Nov 18
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 45% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 48% per year over the past 5 years. Minor Risks High level of debt (45% net debt to equity). Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (NT$1.27b market cap, or US$39.0m). Reported Earnings • Nov 18
Third quarter 2024 earnings released: NT$0.22 loss per share (vs NT$0.49 loss in 3Q 2023) Third quarter 2024 results: NT$0.22 loss per share (improved from NT$0.49 loss in 3Q 2023). Revenue: NT$1.74b (up 54% from 3Q 2023). Net loss: NT$16.6m (loss narrowed 56% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 18
Second quarter 2024 earnings released: NT$0.02 loss per share (vs NT$0.29 loss in 2Q 2023) Second quarter 2024 results: NT$0.02 loss per share (improved from NT$0.29 loss in 2Q 2023). Revenue: NT$1.68b (down 36% from 2Q 2023). Net loss: NT$1.43m (loss narrowed 94% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. Announcement • Aug 06
Sunnic Technology & Merchandise Inc to Report Q2, 2024 Results on Aug 13, 2024 Sunnic Technology & Merchandise Inc announced that they will report Q2, 2024 results on Aug 13, 2024 Reported Earnings • May 19
First quarter 2024 earnings released: NT$0.17 loss per share (vs NT$0.44 loss in 1Q 2023) First quarter 2024 results: NT$0.17 loss per share (improved from NT$0.44 loss in 1Q 2023). Revenue: NT$1.11b (down 51% from 1Q 2023). Net loss: NT$13.1m (loss narrowed 61% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. Announcement • May 05
Sunnic Technology & Merchandise Inc to Report Q1, 2024 Results on May 10, 2024 Sunnic Technology & Merchandise Inc announced that they will report Q1, 2024 results on May 10, 2024 Reported Earnings • Mar 19
Full year 2023 earnings released: NT$1.47 loss per share (vs NT$0.32 profit in FY 2022) Full year 2023 results: NT$1.47 loss per share (down from NT$0.32 profit in FY 2022). Revenue: NT$7.27b (down 28% from FY 2022). Net loss: NT$112.6m (down NT$136.6m from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Announcement • Mar 09
Sunnic Technology & Merchandise Inc, Annual General Meeting, Jun 07, 2024 Sunnic Technology & Merchandise Inc, Annual General Meeting, Jun 07, 2024. Location: MRT Beitou Resort (No. 88, Lane 527, Da-Ye Road, Beitou District, 11268, Taipei City) Taipei City Taiwan Agenda: To approve 2023 Business Report; to approve Audit Committee's Review Report; to report on making of Endorsements/Guarantees; and to discuss other matters. New Risk • Jan 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 5.5% 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 Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Earnings have declined by 20% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (5.5% average weekly change). Market cap is less than US$100m (NT$1.34b market cap, or US$42.7m). Reported Earnings • Nov 15
Third quarter 2023 earnings released: NT$0.49 loss per share (vs NT$0.19 profit in 3Q 2022) Third quarter 2023 results: NT$0.49 loss per share (down from NT$0.19 profit in 3Q 2022). Revenue: NT$1.13b (down 58% from 3Q 2022). Net loss: NT$37.7m (down 362% 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 61 percentage points per year, which is a significant difference in performance. New Risk • Nov 15
New major risk - Revenue and earnings growth Earnings have declined by 6.3% 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 Risks Interest payments are not well covered by earnings (0.4x net interest cover). 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 6.3% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$909.2m market cap, or US$28.3m). New Risk • Sep 03
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.4x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.4x net interest cover). 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. Minor Risk Market cap is less than US$100m (NT$935.9m market cap, or US$29.3m). Board Change • Aug 25
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 Shao-Jen Weng was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 18
Second quarter 2023 earnings released: NT$0.29 loss per share (vs NT$0.17 profit in 2Q 2022) Second quarter 2023 results: NT$0.29 loss per share (down from NT$0.17 profit in 2Q 2022). Revenue: NT$2.64b (up 34% from 2Q 2022). Net loss: NT$22.1m (down 270% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jun 13
Upcoming dividend of NT$0.80 per share at 5.4% yield Eligible shareholders must have bought the stock before 20 June 2023. Payment date: 24 July 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 5.4%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.3%). Reported Earnings • Mar 19
Full year 2022 earnings released: EPS: NT$0.32 (vs NT$1.31 in FY 2021) Full year 2022 results: EPS: NT$0.32 (down from NT$1.31 in FY 2021). Revenue: NT$10.1b (up 7.8% from FY 2021). Net income: NT$24.1m (down 76% from FY 2021). Profit margin: 0.2% (down from 1.1% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 13% per year. Board Change • Nov 16
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. 6 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Director Li-Chen Kuo was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.19 (vs NT$0.23 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.19 (down from NT$0.23 in 3Q 2021). Revenue: NT$2.67b (up 30% from 3Q 2021). Net income: NT$14.4m (down 17% from 3Q 2021). Profit margin: 0.5% (down from 0.8% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: NT$0.17 (vs NT$0.12 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.17 (up from NT$0.12 in 2Q 2021). Revenue: NT$1.97b (down 9.9% from 2Q 2021). Net income: NT$13.0m (up 41% from 2Q 2021). Profit margin: 0.7% (up from 0.4% in 2Q 2021). The increase in margin was driven by lower expenses. 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 11% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 05
Upcoming dividend of NT$0.13 per share Eligible shareholders must have bought the stock before 12 July 2022. Payment date: 16 August 2022. Payout ratio is a comfortable 7.7% and the cash payout ratio is 86%. Trailing yield: 0.9%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (5.0%). Announcement • Jun 28
Sunnic Technology & Merchandise Inc Announces Cash Dividend, Payable on August 16, 2022 Sunnic Technology & Merchandise Inc. announced cash dividend of TWD 0.126 per share. Ex-rights (ex-dividend) date is July 12, 2022. Ex-rights (ex-dividend) record date is July 18, 2022. Payment date of cash dividend distribution is August 16, 2022. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.52 (vs NT$0.33 in 1Q 2021) First quarter 2022 results: EPS: NT$0.52 (up from NT$0.33 in 1Q 2021). Revenue: NT$3.18b (up 16% from 1Q 2021). Net income: NT$35.7m (up 58% from 1Q 2021). Profit margin: 1.1% (up from 0.8% 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 17% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • May 12
Sunnic Technology & Merchandise Inc Announces Change to the Officers Sunnic Technology & Merchandise Inc. announced change to the officers of the company. Name, title, and resume of the previous position holder: spokesperson, financial officer, accounting officer, corporate governance officer: CHEN,MEI-LING /CFO. Acting spokesperson: HSU,CHE-WEI /Finance Department senior manager. Name, title, and resume of the new position holder: corporate governance officer: CHIEN,KANG-MIN /Chairman of the Board and President. Accounting officer, spokesperson: HSU,CHE-WEI /Finance Department senior manager. Financial officer, acting spokesperson: YU,YUEH-KUEI /Finance Department senior manager. Reason for the change: retirement. Effective date: CFO CHEN,MEI-LING will retire on May 31, 2022, and the effective date of new appointments will be June 1, 2022. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Li-Chen Kuo was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Mar 13
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$1.45 (up from NT$1.01 in FY 2020). Revenue: NT$9.39b (down 34% from FY 2020). Net income: NT$99.8m (up 44% from FY 2020). Profit margin: 1.1% (up from 0.5% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.25 (vs NT$0.37 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2021 results: Revenue: NT$2.06b (down 47% from 3Q 2020). Net income: NT$17.3m (down 32% from 3Q 2020). Profit margin: 0.8% (up from 0.7% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$0.14 (vs NT$0.43 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$2.19b (down 59% from 2Q 2020). Net income: NT$9.29m (down 69% from 2Q 2020). Profit margin: 0.4% (down from 0.6% 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 41% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improved over the past week After last week's 16% share price gain to NT$18.90, the stock trades at a trailing P/E ratio of 18.8x. Average trailing P/E is 20x in the Electronic industry in Taiwan. Total returns to shareholders of 45% over the past three years. Reported Earnings • Mar 12
Full year 2020 earnings released: EPS NT$1.01 (vs NT$0.64 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: NT$14.3b (down 26% from FY 2019). Net income: NT$69.2m (up 58% from FY 2019). Profit margin: 0.5% (up from 0.2% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Mar 06
Sunnic Technology & Merchandise Inc, Annual General Meeting, May 28, 2021 Sunnic Technology & Merchandise Inc, Annual General Meeting, May 28, 2021. Location: Taipei Rapid Transit Corporation Beitou Resort 306 Room (No. 88, Lane 527, Da-Ye Road, Beitou District, 11268, Taiwan city Taiwan Agenda: To consider 2020 Business Report; to consider 2020 Supervisor's Review Report; to report on 2020 Employees' and Directors' remuneration; to report on making of Endorsements/Guarantees; to discuss distribution cash in capital reserve; to consider acknowledgment of the 2020 annual final accounting ledgers and statements; to consider acknowledgment of the 2020 Earnings Distribution; and to consider other matters. Is New 90 Day High Low • Jan 18
New 90-day high: NT$16.65 The company is up 14% from its price of NT$14.60 on 21 October 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 25% over the same period. Is New 90 Day High Low • Dec 04
New 90-day high: NT$15.95 The company is up 3.0% from its price of NT$15.45 on 04 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 8.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.37 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$3.87b (down 37% from 3Q 2019). Net income: NT$25.3m (up 90% from 3Q 2019). Profit margin: 0.7% (up from 0.2% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Is New 90 Day High Low • Sep 22
New 90-day low: NT$14.95 The company is down 8.0% from its price of NT$16.25 on 24 June 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 2.0% over the same period.