Upcoming Dividend • Jun 25
Upcoming dividend of NT$2.50 per share Eligible shareholders must have bought the stock before 02 July 2026. Payment date: 30 July 2026. Payout ratio is on the higher end at 78%, and the cash payout ratio is above 100%. Trailing yield: 1.0%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (1.3%). Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to NT$254, the stock trades at a trailing P/E ratio of 79.2x. Average trailing P/E is 41x in the Electronic industry in Taiwan. Total returns to shareholders of 485% over the past three years. Reported Earnings • May 16
First quarter 2026 earnings released: EPS: NT$1.00 (vs NT$1.39 in 1Q 2025) First quarter 2026 results: EPS: NT$1.00. Revenue: NT$791.4m (up 21% from 1Q 2025). Net income: NT$97.1m (up 7.3% from 1Q 2025). Profit margin: 12% (down from 14% in 1Q 2025). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$187, the stock trades at a trailing P/E ratio of 60.2x. Average trailing P/E is 30x in the Electronic industry in Taiwan. Total returns to shareholders of 359% over the past three years. Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$160, the stock trades at a trailing P/E ratio of 51.4x. Average trailing P/E is 30x in the Electronic industry in Taiwan. Total returns to shareholders of 297% over the past three years. New Risk • Apr 10
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.8% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.6% average weekly change). Reported Earnings • Mar 12
Full year 2025 earnings released: EPS: NT$3.13 (vs NT$2.50 in FY 2024) Full year 2025 results: EPS: NT$3.13 (up from NT$2.50 in FY 2024). Revenue: NT$2.45b (up 23% from FY 2024). Net income: NT$203.6m (up 26% from FY 2024). Profit margin: 8.3% (up from 8.1% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 09
STL Technology Co., Ltd., Annual General Meeting, May 27, 2026 STL Technology Co., Ltd., Annual General Meeting, May 27, 2026, at 10:00 Taipei Standard Time. Location: no,1, hsi shih wu st., cianjhen district, kaohsiung city Taiwan Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$121, the stock trades at a trailing P/E ratio of 52.2x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 192% over the past three years. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$152, the stock trades at a trailing P/E ratio of 65.8x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 297% over the past three years. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to NT$160, the stock trades at a trailing P/E ratio of 69x. Average trailing P/E is 21x in the Electronic industry in Taiwan. Total returns to shareholders of 227% over the past three years. Reported Earnings • Nov 15
Third quarter 2025 earnings released: EPS: NT$0.71 (vs NT$0.86 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.71 (down from NT$0.86 in 3Q 2024). Revenue: NT$546.1m (flat on 3Q 2024). Net income: NT$46.3m (down 16% from 3Q 2024). Profit margin: 8.5% (down from 10% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$126, the stock trades at a trailing P/E ratio of 51.3x. Average trailing P/E is 22x in the Electronic industry in Taiwan. Total returns to shareholders of 199% over the past three years. Reported Earnings • Aug 13
Second quarter 2025 earnings released: NT$0.55 loss per share (vs NT$0.55 profit in 2Q 2024) Second quarter 2025 results: NT$0.55 loss per share (down from NT$0.55 profit in 2Q 2024). Revenue: NT$463.7m (down 9.5% from 2Q 2024). Net loss: NT$35.9m (down 201% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$141, the stock trades at a trailing P/E ratio of 39.9x. Average trailing P/E is 20x in the Electronic industry in Taiwan. Total returns to shareholders of 345% over the past three years. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$113, the stock trades at a trailing P/E ratio of 32x. Average trailing P/E is 20x in the Electronic industry in Taiwan. Total returns to shareholders of 282% over the past three years. Upcoming Dividend • Jul 10
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 17 July 2025. Payment date: 14 August 2025. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (3.1%). Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to NT$106, the stock trades at a trailing P/E ratio of 29.9x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 243% over the past three years. Declared Dividend • Jun 21
Dividend increased to NT$2.00 Dividend of NT$2.00 is 150% higher than last year. Ex-date: 17th July 2025 Payment date: 14th August 2025 Dividend yield will be 2.4%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (70% cash payout ratio). The dividend has increased by an average of 15% per year over the past 8 years. However, payments have been volatile during that time. Earnings per share has grown by 6.6% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$88.30, the stock trades at a trailing P/E ratio of 25x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 148% over the past three years. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$1.39 (vs NT$0.31 in 1Q 2024) First quarter 2025 results: EPS: NT$1.39 (up from NT$0.31 in 1Q 2024). Revenue: NT$656.5m (up 25% from 1Q 2024). Net income: NT$90.5m (up 352% from 1Q 2024). Profit margin: 14% (up from 3.8% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 08
STL Technology Co., Ltd. announced a financing transaction STL Technology Co., Ltd. announced a private placement to issue not more than 6,500,000 common share on May 7, 2025. The issue price shall not be less than 80% of the reference price. The transaction will happen in 2 tranches within one year of shareholders resolution. Securities offered are subject to hold period of 3 years from date of end of issuance. The transaction is approved by board of directors and to be approved at shareholders meeting. Valuation Update With 7 Day Price Move • May 02
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$91.10, the stock trades at a trailing P/E ratio of 37x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 164% over the past three years. Announcement • Apr 30
STL Technology Co., Ltd. to Report Q1, 2025 Results on May 07, 2025 STL Technology Co., Ltd. announced that they will report Q1, 2025 results on May 07, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$68.90, the stock trades at a trailing P/E ratio of 28x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 141% over the past three years. New Risk • Mar 27
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.2% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.0% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$80.80, the stock trades at a trailing P/E ratio of 30.6x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 217% over the past three years. Announcement • Feb 27
STL Technology Co., Ltd., Annual General Meeting, Jun 19, 2025 STL Technology Co., Ltd., Annual General Meeting, Jun 19, 2025, at 09:00 Taipei Standard Time. Location: no,1, hsi shih wu st., cianjhen district, kaohsiung city Taiwan Announcement • Feb 18
STL Technology Co., Ltd. to Report Fiscal Year 2024 Results on Feb 25, 2025 STL Technology Co., Ltd. announced that they will report fiscal year 2024 results on Feb 25, 2025 Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$54.10, the stock trades at a trailing P/E ratio of 20.5x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 181% over the past three years. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$60.20, the stock trades at a trailing P/E ratio of 22.9x. Average trailing P/E is 22x in the Electronic industry in Taiwan. Total returns to shareholders of 241% over the past three years. Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.86 (vs NT$0.55 loss in 3Q 2023) Third quarter 2024 results: EPS: NT$0.86 (up from NT$0.55 loss in 3Q 2023). Revenue: NT$549.6m (up 93% from 3Q 2023). Net income: NT$55.3m (up NT$90.5m from 3Q 2023). Profit margin: 10% (up from net loss in 3Q 2023). The move to profitability was driven by higher 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 35% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$39.05, the stock trades at a trailing P/E ratio of 31.1x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 116% over the past three years. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: NT$0.55 (vs NT$0.50 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.55 (up from NT$0.50 in 2Q 2023). Revenue: NT$512.3m (flat on 2Q 2023). Net income: NT$35.4m (up 11% from 2Q 2023). Profit margin: 6.9% (up from 6.2% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Aug 01
STL Technology Co., Ltd. to Report Q2, 2024 Results on Aug 08, 2024 STL Technology Co., Ltd. announced that they will report Q2, 2024 results on Aug 08, 2024 Upcoming Dividend • Jul 16
Upcoming dividend of NT$0.80 per share Eligible shareholders must have bought the stock before 23 July 2024. Payment date: 20 August 2024. Payout ratio is a comfortable 65% and the cash payout ratio is 79%. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (4.2%). In line with average of industry peers (2.5%). Declared Dividend • Jun 28
Dividend reduced to NT$0.80 Dividend of NT$0.80 is 63% lower than last year. Ex-date: 23rd July 2024 Payment date: 20th August 2024 Dividend yield will be 2.7%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (65% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 3.4% per year over the past 7 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 28% to shift the payout ratio to a potentially unsustainable range, which is more than the 1.8% EPS decline seen over the last 5 years. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.62 (vs NT$0.74 in 1Q 2023) First quarter 2024 results: EPS: NT$0.62 (down from NT$0.74 in 1Q 2023). Revenue: NT$1.05b (up 57% from 1Q 2023). Net income: NT$40.0m (down 15% from 1Q 2023). Profit margin: 3.8% (down from 7.1% in 1Q 2023). 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 17% per year, which means it is significantly lagging earnings growth. Announcement • May 03
STL Technology Co., Ltd. to Report Q1, 2024 Results on May 09, 2024 STL Technology Co., Ltd. announced that they will report Q1, 2024 results on May 09, 2024 Reported Earnings • Mar 16
Full year 2023 earnings released: EPS: NT$1.65 (vs NT$2.96 in FY 2022) Full year 2023 results: EPS: NT$1.65 (down from NT$2.96 in FY 2022). Revenue: NT$1.71b (down 38% from FY 2022). Net income: NT$106.5m (down 44% from FY 2022). Profit margin: 6.2% (down from 6.9% 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 55% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Mar 09
STL Technology Co., Ltd. Announces Cash Dividend for the Period from January 1, 2023 to December 31, 2023 STL Technology Co., Ltd. announced cash dividend of TWD 0.8 per share or the total amount is TWD 52,588,609 for the period from January 1, 2023 to December 31, 2023.. Announcement • Mar 08
STL Technology Co., Ltd., Annual General Meeting, Jun 26, 2024 STL Technology Co., Ltd., Annual General Meeting, Jun 26, 2024. Location: No.1,West 15th Street, Qianzhen District Kaohsiung City, Taiwan Agenda: To report the business of 2023; to consider Audit committee's review report of 2023; to consider report 2023 employees compensation and directors remuneration; to consider report the distribution of 2023 profits; to report the amendment to the Management of Operation of Board Meeting; to report the amendment to the Procedures for the Ethical Management and Guidelines for Conduct; and to consider other matters. New Risk • Dec 15
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.5% 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. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (235% payout ratio). Profit margins are more than 30% lower than last year (2.8% net profit margin). Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Market cap is less than US$100m (NT$2.07b market cap, or US$66.1m). New Risk • Nov 20
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 5.6% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.6% average weekly change). Profit margins are more than 30% lower than last year (2.8% net profit margin). Market cap is less than US$100m (NT$2.27b market cap, or US$71.8m). Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$33.10, the stock trades at a trailing P/E ratio of 35.6x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 61% over the past three years. Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: NT$0.50 (vs NT$0.52 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.50 (down from NT$0.52 in 2Q 2022). Revenue: NT$513.6m (down 13% from 2Q 2022). Net income: NT$31.9m (down 3.2% from 2Q 2022). Profit margin: 6.2% (up from 5.6% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 04
Upcoming dividend of NT$2.19 per share at 4.8% yield Eligible shareholders must have bought the stock before 11 July 2023. Payment date: 07 August 2023. Trailing yield: 4.8%. Lower than top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (4.2%). Announcement • Jun 13
STL Technology Co., Ltd. Announces Cash Dividend, Payable on August 7, 2023 STL Technology Co., Ltd. announced cash dividend of TWD 1.2 per share or the total amount is TWD 76,994,113. Distribution of cash dividends from Capital Surplus is TWD 1 per share or the total amount is TWD 64,161,761. Ex-rights (Ex-dividend) date is July 11, 2023. Ex-rights (Ex-dividend) record date is July 17, 2023. Payment date of cash dividend distribution is August 7, 2023. New Risk • Jun 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 6.0% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.0% average weekly change). Market cap is less than US$100m (NT$2.90b market cap, or US$94.5m). Reported Earnings • Mar 17
Full year 2022 earnings released: EPS: NT$2.96 (vs NT$0.63 loss in FY 2021) Full year 2022 results: EPS: NT$2.96 (up from NT$0.63 loss in FY 2021). Revenue: NT$2.75b (up 84% from FY 2021). Net income: NT$189.7m (up NT$229.4m from FY 2021). Profit margin: 6.9% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Reported Earnings • Nov 19
Third quarter 2022 earnings released: EPS: NT$1.61 (vs NT$0.36 loss in 3Q 2021) Third quarter 2022 results: EPS: NT$1.61 (up from NT$0.36 loss in 3Q 2021). Revenue: NT$834.4m (up 180% from 3Q 2021). Net income: NT$102.7m (up NT$125.4m from 3Q 2021). Profit margin: 12% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.52 (vs NT$0.14 loss in 2Q 2021) Second quarter 2022 results: EPS: NT$0.52 (up from NT$0.14 loss in 2Q 2021). Revenue: NT$592.0m (up 88% from 2Q 2021). Net income: NT$33.0m (up NT$41.7m from 2Q 2021). Profit margin: 5.6% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. 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. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.60 (vs NT$0.14 in 1Q 2021) First quarter 2022 results: EPS: NT$0.60 (up from NT$0.14 in 1Q 2021). Revenue: NT$669.0m (up 106% from 1Q 2021). Net income: NT$38.1m (up 324% from 1Q 2021). Profit margin: 5.7% (up from 2.8% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Announcement • May 08
STL Technology Co., Ltd. Announces Appointment of Kuo,Li-Chuan as Chief Internal Auditor STL Technology Co., Ltd. announced appointment of Kuo,Li-Chuan as Chief Internal Auditor. Type of change is New Replacement. 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. 8 experienced directors. 3 highly experienced directors. 3 independent directors (8 non-independent directors). Independent Director Kuei-Chih Yang was the last independent director to join the board, commencing their role in 2018. 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 30
Full year 2021 earnings released: NT$0.63 loss per share (vs NT$1.02 profit in FY 2020) Full year 2021 results: NT$0.63 loss per share (down from NT$1.02 profit in FY 2020). Revenue: NT$1.49b (down 8.1% from FY 2020). Net loss: NT$39.7m (down 163% from profit in FY 2020). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Mar 29
STL Technology Co., Ltd., Annual General Meeting, Jun 28, 2022 STL Technology Co., Ltd., Annual General Meeting, Jun 28, 2022. Location: :No.1,West 15th Street,Qianzhen District Kaohsiung City Kaohsiung City Taiwan Agenda: To consider business of 2021; and to discuss Audit committee's review report of 2021. Executive Departure • Nov 30
Chief Internal Auditor Pei Shan Tsai has left the company On the 25th of November, Pei Shan Tsai's tenure as Chief Internal Auditor ended. We don't have any record of a personal shareholding under Pei Shan's name. Pei Shan is the only executive to leave the company over the last 12 months. Reported Earnings • Nov 15
Third quarter 2021 earnings released: NT$0.36 loss per share (vs NT$0.22 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: NT$298.2m (down 23% from 3Q 2020). Net loss: NT$22.7m (down 262% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 21
Upcoming dividend of NT$0.89 per share Eligible shareholders must have bought the stock before 28 September 2021. Payment date: 22 October 2021. Trailing yield: 4.6%. Lower than top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (3.2%). Reported Earnings • Aug 18
Second quarter 2021 earnings released: NT$0.14 loss per share (vs NT$0.21 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$315.7m (down 21% from 2Q 2020). Net loss: NT$8.65m (down 166% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 14% 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. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improved over the past week After last week's 21% share price gain to NT$23.30, the stock trades at a trailing P/E ratio of 29.3x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 19% over the past three years. Reported Earnings • May 16
First quarter 2021 earnings released: EPS NT$0.14 (vs NT$0.36 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$324.3m (down 23% from 1Q 2020). Net income: NT$8.98m (down 60% from 1Q 2020). Profit margin: 2.8% (down from 5.4% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 4% per year. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS NT$1.02 (vs NT$2.51 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.63b (down 18% from FY 2019). Net income: NT$63.2m (down 56% from FY 2019). Profit margin: 3.9% (down from 7.2% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 15% per year. Is New 90 Day High Low • Jan 26
New 90-day low: NT$21.60 The company is down 3.0% from its price of NT$22.25 on 29 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 28% over the same period. Valuation Update With 7 Day Price Move • Nov 28
Market bids up stock over the past week After last week's 21% share price gain to NT$27.25, the stock is trading at a trailing P/E ratio of 19.2x, up from the previous P/E ratio of 15.9x. This compares to an average P/E of 17x in the Electronic industry in Taiwan. Total returns to shareholders over the past three years are 156%. Is New 90 Day High Low • Nov 27
New 90-day high: NT$25.35 The company is up 8.0% from its price of NT$23.50 on 28 August 2020. The Taiwanese market is also up 8.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Electronic industry, which is up 6.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.22 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$385.3m (down 21% from 3Q 2019). Net income: NT$14.0m (down 66% from 3Q 2019). Profit margin: 3.6% (down from 8.4% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.