New Risk • Mar 12
New major risk - Revenue and earnings growth Earnings have declined by 13% 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 Risk Earnings have declined by 13% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$988.0m market cap, or US$31.0m). Announcement • Mar 11
Jhen Vei Electronic Co., Ltd., Annual General Meeting, May 25, 2026 Jhen Vei Electronic Co., Ltd., Annual General Meeting, May 25, 2026. Location: no,501, yu shan rd., west district, chiayi city Taiwan Reported Earnings • Nov 15
Third quarter 2025 earnings released: EPS: NT$0.07 (vs NT$0.12 loss in 3Q 2024) Third quarter 2025 results: EPS: NT$0.07 (up from NT$0.12 loss in 3Q 2024). Revenue: NT$292.8m (flat on 3Q 2024). Net income: NT$4.56m (up NT$12.7m from 3Q 2024). Profit margin: 1.6% (up from net loss in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. New Risk • Nov 05
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 6.7% 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 Risk Earnings have declined by 3.2% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (NT$1.15b market cap, or US$37.2m). Reported Earnings • Aug 17
Second quarter 2025 earnings released: NT$0.16 loss per share (vs NT$0.16 profit in 2Q 2024) Second quarter 2025 results: NT$0.16 loss per share (down from NT$0.16 profit in 2Q 2024). Revenue: NT$339.7m (up 26% from 2Q 2024). Net loss: NT$11.2m (down 204% from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Declared Dividend • Jul 21
Dividend of NT$0.10 announced Dividend of NT$0.10 is the same as last year. Ex-date: 1st August 2025 Payment date: 29th August 2025 Dividend yield will be 0.7%, which is lower than the industry average of 4.0%. Reported Earnings • May 18
First quarter 2025 earnings released: EPS: NT$0.02 (vs NT$0.085 in 1Q 2024) First quarter 2025 results: EPS: NT$0.02 (down from NT$0.085 in 1Q 2024). Revenue: NT$241.4m (up 16% from 1Q 2024). Net income: NT$1.08m (down 81% from 1Q 2024). Profit margin: 0.4% (down from 2.8% in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Announcement • May 08
Jhen Vei Electronic Co., Ltd. to Report Q1, 2025 Results on May 13, 2025 Jhen Vei Electronic Co., Ltd. announced that they will report Q1, 2025 results on May 13, 2025 New Risk • Apr 21
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 Risk High level of non-cash earnings (21% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Market cap is less than US$100m (NT$905.3m market cap, or US$27.9m). Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$13.00, the stock trades at a trailing P/E ratio of 44.5x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total loss to shareholders of 9.9% over the past three years. Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$0.29 (vs NT$0.055 in FY 2023) Full year 2024 results: EPS: NT$0.29 (up from NT$0.055 in FY 2023). Revenue: NT$1.10b (up 31% from FY 2023). Net income: NT$20.1m (up 427% from FY 2023). Profit margin: 1.8% (up from 0.5% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Mar 06
Jhen Vei Electronic Co., Ltd. to Report Fiscal Year 2024 Results on Mar 13, 2025 Jhen Vei Electronic Co., Ltd. announced that they will report fiscal year 2024 results on Mar 13, 2025 New Risk • Dec 13
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 Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.6% net profit margin). Market cap is less than US$100m (NT$1.40b market cap, or US$43.1m). New Risk • Dec 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 41% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.6% net profit margin). Market cap is less than US$100m (NT$1.56b market cap, or US$48.2m). Reported Earnings • Nov 19
Third quarter 2024 earnings released: NT$0.12 loss per share (vs NT$0.13 profit in 3Q 2023) Third quarter 2024 results: NT$0.12 loss per share (down from NT$0.13 profit in 3Q 2023). Revenue: NT$293.1m (up 43% from 3Q 2023). Net loss: NT$8.16m (down 192% from profit in 3Q 2023). 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 15% per year, which means it is well ahead of earnings. Announcement • Nov 06
Jhen Vei Electronic Co., Ltd. to Report Q3, 2024 Results on Nov 13, 2024 Jhen Vei Electronic Co., Ltd. announced that they will report Q3, 2024 results on Nov 13, 2024 Announcement • Sep 11
Jhen Vei Electronic Co., Ltd. Announces on Behalf of the Subsidiary, Change to the Accounting Officer At GZ Electronic Co., Ltd Jhen Vei Electronic Co., Ltd. announces on behalf of the subsidiary, change to the accounting officer at GZ ELECTRONIC CO., LTD. announced Name, title, and resume of the new position holder: Li Pi Chu, Senior Manager of the Accounting Department, Bison Electronics Inc. The appointment of the accounting officer will be announced separately after approval by the board of directors. Effective date: September 9, 2024. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.16 (vs NT$0.044 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.16 (up from NT$0.044 in 2Q 2023). Revenue: NT$269.8m (up 42% from 2Q 2023). Net income: NT$10.8m (up 261% from 2Q 2023). Profit margin: 4.0% (up from 1.6% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 06
Jhen Vei Electronic Co., Ltd. to Report Q2, 2024 Results on Aug 13, 2024 Jhen Vei Electronic Co., Ltd. announced that they will report Q2, 2024 results on Aug 13, 2024 Declared Dividend • Jul 19
Dividend reduced to NT$0.10 Dividend of NT$0.10 is 67% lower than last year. Ex-date: 30th July 2024 Payment date: 26th August 2024 Dividend yield will be 0.4%, which is lower than the industry average of 4.0%. Announcement • Jun 19
Jhen Vei Electronic Co., Ltd. Announces Appointment of Kevin, Ge as Corporate Governance Officer Jhen Vei Electronic Co., Ltd. announced appointment of Kevin, Ge as corporate governance officer. Resume of the new position holder: General Manager/Jhen Vei Electronic Co., Ltd. Effective date is June 18, 2024. Reported Earnings • May 20
First quarter 2024 earnings released: EPS: NT$0.08 (vs NT$0.075 loss in 1Q 2023) First quarter 2024 results: EPS: NT$0.08 (up from NT$0.075 loss in 1Q 2023). Revenue: NT$208.3m (flat on 1Q 2023). Net income: NT$5.84m (up NT$11.0m from 1Q 2023). Profit margin: 2.8% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • May 18
Jhen Vei Electronic Co., Ltd. Announces Executive Changes Jhen Vei Electronic Co., Ltd. announced change to the acting spokesperson, financial officer, accounting officer, corporate governance officer. Name, title, and resume of the previous position holder: financial officer: C.T. Lan/Accounting Dept.Senior Manager/Jhen Vei Electronic Co., Ltd., accounting officer: C.T. Lan/Accounting Dept.Senior Manager/Jhen Vei Electronic Co., Ltd., corporate governance officer: C.T. Lan/Accounting Dept.Senior Manager/Jhen Vei Electronic Co., Ltd., Name, title, and resume of the new position holder: financial officer: Provisional by Kevin, Ge/General Manager. accounting officer: Provisional by Acting accounting officer corporate governance officer: New candidates to be discussed by the Board of Directors. Effective date: May 17, 2024. New candidates will be further announced after the appointment of board of directors. Announcement • May 15
Jhen Vei Electronic Co., Ltd. announced a financing transaction Jhen Vei Electronic Co., Ltd. announced a private placement to issue 20,000,000 common shares on May 13, 2024. The transaction has been approved by shareholders of the company. Announcement • May 05
Jhen Vei Electronic Co., Ltd. to Report Q1, 2024 Results on May 13, 2024 Jhen Vei Electronic Co., Ltd. announced that they will report Q1, 2024 results on May 13, 2024 Reported Earnings • Mar 20
Full year 2023 earnings released Full year 2023 results: Revenue: NT$836.3m (down 17% from FY 2022). Net income: NT$3.82m (down 96% from FY 2022). Profit margin: 0.5% (down from 9.3% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Mar 16
Jhen Vei Electronic Co., Ltd., Annual General Meeting, Jun 25, 2024 Jhen Vei Electronic Co., Ltd., Annual General Meeting, Jun 25, 2024. Location: No.501, Yushan Rd., West Dist., 600 (LOOK ROYAL RESORT Hotel) Chiayi City Taiwan Agenda: To consider the 2023 Business report; to consider the 2023 The status of the common stock in private placement; to consider the remuneration of employees and directors for the year 2023; to consider the distribution of cash dividends of 2023 earnings; to consider the adoption of the 2023 Business Report and Financial Statements; and to discuss other matters. New Risk • Jan 24
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 5.7% 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: Minor Risks Share price has been volatile over the past 3 months (5.7% average weekly change). Profit margins are more than 30% lower than last year (0.8% net profit margin). Market cap is less than US$100m (NT$1.43b market cap, or US$45.7m). New Risk • Nov 18
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 124% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.8% net profit margin). Market cap is less than US$100m (NT$1.16b market cap, or US$36.5m). Buying Opportunity • Sep 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be NT$21.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.6% over the last 3 years. Earnings per share has grown by 43%. Upcoming Dividend • Jul 21
Upcoming dividend of NT$0.30 per share at 1.7% yield Eligible shareholders must have bought the stock before 28 July 2023. Payment date: 25 August 2023. Trailing yield: 1.7%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.2%). Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$24.30, the stock trades at a trailing P/E ratio of 18x. Average trailing P/E is 14x in the Electronic industry in Taiwan. Total returns to shareholders of 141% over the past three years. Board Change • Nov 16
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. 6 non-independent directors. Independent Director Jin Han Chen was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 15% share price gain to NT$19.70, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 62% over the past three years. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$16.85, the stock trades at a trailing P/E ratio of 13.3x. Average trailing P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 23% over the past three years. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improved over the past week After last week's 16% share price gain to NT$20.40, the stock trades at a trailing P/E ratio of 16.1x. Average trailing P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 50% over the past three years. Reported Earnings • Aug 16
Second quarter 2022 earnings released: EPS: NT$0.12 (vs NT$0.045 loss in 2Q 2021) Second quarter 2022 results: EPS: NT$0.12 (up from NT$0.045 loss in 2Q 2021). Revenue: NT$212.1m (down 19% from 2Q 2021). Net income: NT$8.06m (up NT$10.3m from 2Q 2021). Profit margin: 3.8% (up from net loss in 2Q 2021). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$13.85, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 12x in the Electronic industry in Taiwan. Total loss to shareholders of 6.5% over the past three years. Valuation Update With 7 Day Price Move • May 23
Investor sentiment improved over the past week After last week's 17% share price gain to NT$15.50, the stock trades at a trailing P/E ratio of 14.7x. Average trailing P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 3.6% over the past three years. Reported Earnings • May 17
First quarter 2022 earnings released: EPS: NT$0.76 (vs NT$0.23 loss in 1Q 2021) First quarter 2022 results: EPS: NT$0.76 (up from NT$0.23 loss in 1Q 2021). Revenue: NT$242.0m (up 11% from 1Q 2021). Net income: NT$52.0m (up NT$63.2m from 1Q 2021). Profit margin: 22% (up from net loss in 1Q 2021). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 8% per year, which means it is performing significantly worse than earnings. Board Change • Apr 27
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. 10 experienced directors. No highly experienced directors. 2 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: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 31
Full year 2021 earnings released: EPS: NT$0.13 (vs NT$0.31 in FY 2020) Full year 2021 results: EPS: NT$0.13 (down from NT$0.31 in FY 2020). Revenue: NT$1.18b (up 6.4% from FY 2020). Net income: NT$6.69m (down 53% from FY 2020). Profit margin: 0.6% (down from 1.3% in FY 2020). The decrease in margin was driven by higher expenses. 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 14% per year, which means it is well ahead of earnings. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS NT$0.19 (vs NT$0.21 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$322.0m (up 2.4% from 3Q 2020). Net income: NT$9.20m (down 9.2% from 3Q 2020). Profit margin: 2.9% (down from 3.2% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 12
Second quarter 2021 earnings released: NT$0.05 loss per share (vs NT$0.17 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: NT$262.1m (down 3.8% from 2Q 2020). Net loss: NT$2.22m (down 127% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • May 17
First quarter 2021 earnings released: NT$0.23 loss per share (vs NT$0.11 loss in 1Q 2020) The company reported a mediocre first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: NT$218.1m (up 66% from 1Q 2020). Net loss: NT$11.2m (loss widened 165% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 120% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improved over the past week After last week's 16% share price gain to NT$18.00, the stock trades at a trailing P/E ratio of 58.1x. Average trailing P/E is 20x in the Electronic industry in Taiwan. Total loss to shareholders of 18% over the past three years. Reported Earnings • Mar 25
Full year 2020 earnings released: EPS NT$0.31 (vs NT$0.44 in FY 2019) The company reported a mediocre full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: NT$1.11b (up 32% from FY 2019). Net income: NT$14.2m (down 17% from FY 2019). Profit margin: 1.3% (down from 2.0% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 121% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improved over the past week After last week's 24% share price gain to NT$16.10, the stock is trading at a trailing P/E ratio of 31.9x, up from the previous P/E ratio of 25.8x. This compares to an average P/E of 19x in the Electronic industry in Taiwan. Total return to shareholders over the past three years is a loss of 59%. Is New 90 Day High Low • Jan 28
New 90-day low: NT$13.65 The company is down 18% from its price of NT$16.60 on 30 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 30% over the same period. Is New 90 Day High Low • Jan 08
New 90-day low: NT$15.65 The company is down 11% from its price of NT$17.55 on 08 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 22% over the same period. Is New 90 Day High Low • Dec 21
New 90-day low: NT$16.00 The company is down 11% from its price of NT$17.90 on 23 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 11% over the same period. Reported Earnings • Nov 08
Third quarter 2020 earnings released: EPS NT$0.21 The company reported a mediocre third quarter result with weaker profit margins, although earnings were flat and revenues were improved. Third quarter 2020 results: Revenue: NT$314.5m (up 47% from 3Q 2019). Net income: NT$10.1m (flat on 3Q 2019). Profit margin: 3.2% (down from 4.8% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Nov 06
New 90-day low: NT$16.35 The company is down 14% from its price of NT$19.00 on 07 August 2020. The Taiwanese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 4.0% over the same period. Is New 90 Day High Low • Oct 20
New 90-day low: NT$16.45 The company is down 18% from its price of NT$19.95 on 22 July 2020. The Taiwanese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 3.0% over the same period. 
