New Risk • May 18
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 13% 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 (13% average weekly change). 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 65% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$1.55b market cap, or US$48.8m). Reported Earnings • Apr 08
Full year 2025 earnings released: NT$13.10 loss per share (vs NT$1.10 profit in FY 2024) Full year 2025 results: NT$13.10 loss per share (down from NT$1.10 profit in FY 2024). Revenue: NT$2.04b (down 26% from FY 2024). Net loss: NT$393.1m (down NT$426.0m from profit in FY 2024). 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. Announcement • Mar 23
Goldtek Technology Co., Ltd., Annual General Meeting, Jun 24, 2026 Goldtek Technology Co., Ltd., Annual General Meeting, Jun 24, 2026. Location: 4 floor no,10, chien k`ang rd., jhonghe district, new taipei city Taiwan New Risk • Mar 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 8.5% 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 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 54% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (8.5% average weekly change). Market cap is less than US$100m (NT$1.11b market cap, or US$34.6m). New Risk • Mar 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. 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. Paying a dividend despite having no free cash flows. Earnings have declined by 54% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (NT$768.0m market cap, or US$24.5m). Declared Dividend • Jun 22
Dividend of NT$1.00 announced Shareholders will receive a dividend of NT$1.00. Ex-date: 3rd July 2025 Payment date: 28th July 2025 Dividend yield will be 2.4%, which is lower than the industry average of 4.0%. Sustainability & Growth The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. Valuation Update With 7 Day Price Move • May 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$32.00, the stock trades at a trailing P/E ratio of 29.2x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total loss to shareholders of 59% over the past three years. Reported Earnings • Apr 10
Full year 2024 earnings released: EPS: NT$1.10 (vs NT$1.73 in FY 2023) Full year 2024 results: EPS: NT$1.10 (down from NT$1.73 in FY 2023). Revenue: NT$2.76b (up 1.1% from FY 2023). Net income: NT$32.9m (down 36% from FY 2023). Profit margin: 1.2% (down from 1.9% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. 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 7.2% 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 Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). 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 (7.2% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (NT$1.35b market cap, or US$40.8m). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$45.00, the stock trades at a trailing P/E ratio of 20x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total loss to shareholders of 43% over the past three years. Announcement • Mar 24
Goldtek Technology Co., Ltd., Annual General Meeting, Jun 17, 2025 Goldtek Technology Co., Ltd., Annual General Meeting, Jun 17, 2025. Location: 4 floor no,10, chien k`ang rd., jhonghe district, new taipei city Taiwan New Risk • Mar 03
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. 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 Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Dividend is not well covered by earnings (154% payout ratio). Large one-off items impacting financial results. Market cap is less than US$100m (NT$2.13b market cap, or US$64.7m). New Risk • Nov 12
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 6.4% 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 Risk Earnings have declined by 49% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (154% payout ratio). Share price has been volatile over the past 3 months (6.4% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (NT$2.25b market cap, or US$69.3m). Upcoming Dividend • Jun 27
Upcoming dividend of NT$1.10 per share Eligible shareholders must have bought the stock before 04 July 2024. Payment date: 31 July 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.4%. Within top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.6%). Reported Earnings • Apr 03
Full year 2023 earnings released: EPS: NT$1.72 (vs NT$5.14 in FY 2022) Full year 2023 results: EPS: NT$1.72 (down from NT$5.14 in FY 2022). Revenue: NT$2.73b (down 34% from FY 2022). Net income: NT$51.7m (down 66% from FY 2022). Profit margin: 1.9% (down from 3.7% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Mar 27
Goldtek Technology Co., Ltd., Annual General Meeting, Jun 18, 2024 Goldtek Technology Co., Ltd., Annual General Meeting, Jun 18, 2024. New Risk • Mar 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 34% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Dividend is not well covered by earnings (139% payout ratio). Share price has been volatile over the past 3 months (6.1% average weekly change). Profit margins are more than 30% lower than last year (2.0% net profit margin). Market cap is less than US$100m (NT$2.41b market cap, or US$76.2m). New Risk • Feb 16
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: Major Risk Earnings have declined by 34% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (139% payout ratio). Share price has been volatile over the past 3 months (6.0% average weekly change). Profit margins are more than 30% lower than last year (2.0% net profit margin). Market cap is less than US$100m (NT$2.48b market cap, or US$79.2m). Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$74.60, the stock trades at a trailing P/E ratio of 34.5x. Average trailing P/E is 21x in the Electronic industry in Taiwan. Total loss to shareholders of 22% over the past three years. Reported Earnings • Aug 15
First half 2023 earnings released: EPS: NT$0.96 (vs NT$3.93 in 1H 2022) First half 2023 results: EPS: NT$0.96 (down from NT$3.93 in 1H 2022). Revenue: NT$1.28b (down 40% from 1H 2022). Net income: NT$28.7m (down 76% from 1H 2022). Profit margin: 2.2% (down from 5.6% in 1H 2022). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. New Risk • Aug 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% 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: Major Risk Earnings have declined by 34% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (138% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.0% net profit margin). Market cap is less than US$100m (NT$1.83b market cap, or US$57.3m). Upcoming Dividend • Jun 20
Upcoming dividend of NT$3.00 per share at 4.5% yield Eligible shareholders must have bought the stock before 27 June 2023. Payment date: 25 July 2023. Payout ratio is a comfortable 58% but the company is paying out more than the cash it is generating. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (5.5%). In line with average of industry peers (4.2%). Reported Earnings • Aug 15
First half 2022 earnings released: EPS: NT$3.93 (vs NT$2.54 in 1H 2021) First half 2022 results: EPS: NT$3.93 (up from NT$2.54 in 1H 2021). Revenue: NT$2.12b (up 15% from 1H 2021). Net income: NT$117.8m (up 55% from 1H 2021). Profit margin: 5.6% (up from 4.1% in 1H 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jul 05
Upcoming dividend of NT$3.50 per share Eligible shareholders must have bought the stock before 12 July 2022. Payment date: 05 August 2022. Payout ratio is a comfortable 66% but the company is not cash flow positive. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (5.0%). Reported Earnings • Apr 06
Full year 2021 earnings released: EPS: NT$5.28 (vs NT$7.98 in FY 2020) Full year 2021 results: EPS: NT$5.28 (down from NT$7.98 in FY 2020). Revenue: NT$4.44b (up 6.2% from FY 2020). Net income: NT$158.5m (down 34% from FY 2020). Profit margin: 3.6% (down from 5.7% 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 46% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 18
First half 2021 earnings released: EPS NT$2.54 (vs NT$3.01 in 1H 2020) The company reported a soft first half result with weaker earnings and profit margins, although revenues improved. First half 2021 results: Revenue: NT$1.85b (up 23% from 1H 2020). Net income: NT$76.2m (down 16% from 1H 2020). Profit margin: 4.1% (down from 6.0% in 1H 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jul 27
Upcoming dividend of NT$4.50 per share Eligible shareholders must have bought the stock before 03 August 2021. Payment date: 27 August 2021. Trailing yield: 4.3%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (3.0%). Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorated over the past week After last week's 18% share price decline to NT$81.60, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 15x in the Electronic industry in Taiwan. Total loss to shareholders of 58% over the past three years. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS NT$7.98 (vs NT$23.75 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$4.17b (down 46% from FY 2019). Net income: NT$239.3m (down 66% from FY 2019). Profit margin: 5.7% (down from 9.3% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Feb 18
New 90-day low: NT$104 The company is down 2.0% from its price of NT$106 on 20 November 2020. The Taiwanese market is up 18% 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 • Jan 06
New 90-day high: NT$121 The company is up 33% from its price of NT$90.80 on 08 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 22% over the same period. Is New 90 Day High Low • Dec 12
New 90-day high: NT$115 The company is up 25% from its price of NT$91.80 on 11 September 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 13% over the same period. Is New 90 Day High Low • Nov 11
New 90-day high: NT$112 The company is up 18% from its price of NT$94.90 on 13 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 3.0% over the same period. Is New 90 Day High Low • Sep 25
New 90-day low: NT$90.50 The company is down 29% from its price of NT$128 on 24 June 2020. The Taiwanese market is up 5.0% 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.