Upcoming Dividend • May 18
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 25 May 2026. Payment date: 30 June 2026. Payout ratio is on the higher end at 97% but the company is not cash flow positive. Trailing yield: 0.2%. Lower than top quartile of Taiwanese dividend payers (5.0%). Lower than average of industry peers (1.4%). New Risk • May 13
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.9x net interest cover). Share price has been highly volatile over the past 3 months (13% average weekly change). High level of non-cash earnings (22% accrual ratio). Reported Earnings • May 13
First quarter 2026 earnings released: EPS: NT$0.29 (vs NT$0.009 loss in 1Q 2025) First quarter 2026 results: EPS: NT$0.29 (up from NT$0.009 loss in 1Q 2025). Revenue: NT$1.62b (up 20% from 1Q 2025). Net income: NT$66.5m (up NT$68.5m from 1Q 2025). Profit margin: 4.1% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 109% per year, which means it is well ahead of earnings. Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: NT$0.22 (vs NT$0.083 in FY 2024) Full year 2025 results: EPS: NT$0.22 (up from NT$0.083 in FY 2024). Revenue: NT$6.05b (up 10% from FY 2024). Net income: NT$50.6m (up 169% from FY 2024). Profit margin: 0.8% (up from 0.3% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 76% per year, which means it is well ahead of earnings. Announcement • Mar 11
I-Chiun Precision Industry Co., Ltd., Annual General Meeting, May 25, 2026 I-Chiun Precision Industry Co., Ltd., Annual General Meeting, May 25, 2026, at 09:00 Taipei Standard Time. Location: 3 floor no,95, wu kung rd., sinjhuang district, new taipei city Taiwan New Risk • Dec 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 8.5% 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 Interest payments are not well covered by earnings (1.8x net interest cover). Share price has been highly volatile over the past 3 months (8.5% average weekly change). High level of non-cash earnings (57% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (0.8% net profit margin). New Risk • Nov 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 7.0% 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 Risks Interest payments are not well covered by earnings (1.8x net interest cover). High level of non-cash earnings (57% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Profit margins are more than 30% lower than last year (0.8% net profit margin). Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: NT$0.22 (vs NT$0.059 loss in 3Q 2024) Third quarter 2025 results: EPS: NT$0.22 (up from NT$0.059 loss in 3Q 2024). Revenue: NT$1.55b (up 6.1% from 3Q 2024). Net income: NT$51.2m (up NT$64.9m from 3Q 2024). Profit margin: 3.3% (up from net loss in 3Q 2024). 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 64% per year, which means it is well ahead of earnings. New Risk • Nov 12
New major risk - Revenue and earnings growth Earnings have declined by 0.3% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 14
Second quarter 2025 earnings released: NT$0.05 loss per share (vs NT$0.13 profit in 2Q 2024) Second quarter 2025 results: NT$0.05 loss per share (down from NT$0.13 profit in 2Q 2024). Revenue: NT$1.60b (up 19% from 2Q 2024). Net loss: NT$11.4m (down 138% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 44% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 19
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 26 June 2025. Payment date: 22 July 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 0.8%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (3.3%). Announcement • Jun 03
I-Chiun Precision Industry Co., Ltd. Declares Dividend, Payable on July 22, 2025 I-Chiun Precision Industry Co., Ltd. declared cash dividend. Appropriations of earnings in cash dividends TWD 35,093,787,TWD 0.15 per share . Cash distributed from capital surplus TWD 81,885,503, TWD 0.35 per share . Ex-rights (ex-dividend) trading date: June 26, 2025 . Last date before book closure: June 29, 2025. Book closure starting date: June 30, 2025. Book closure ending date: July 4, 2025. Payment date of common stock cash dividend distribution: July 22, 2025. Reported Earnings • May 14
First quarter 2025 earnings released: NT$0.01 loss per share (vs NT$0.031 loss in 1Q 2024) First quarter 2025 results: NT$0.01 loss per share (improved from NT$0.031 loss in 1Q 2024). Revenue: NT$1.35b (up 15% from 1Q 2024). Net loss: NT$1.99m (loss narrowed 71% from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Announcement • May 01
I-Chiun Precision Industry Co., Ltd. to Report Q1, 2025 Results on May 12, 2025 I-Chiun Precision Industry Co., Ltd. announced that they will report Q1, 2025 results on May 12, 2025 New Risk • Mar 19
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 5.6% 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 (5.6% operating cash flow to total debt). High level of non-cash earnings (54% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (0.3% net profit margin). Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$0.08 (vs NT$0.92 in FY 2023) Full year 2024 results: EPS: NT$0.08 (down from NT$0.92 in FY 2023). Revenue: NT$5.49b (up 8.4% from FY 2023). Net income: NT$18.8m (down 91% from FY 2023). Profit margin: 0.3% (down from 4.0% 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 49% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Announcement • Mar 06
I-Chiun Precision Industry Co., Ltd., Annual General Meeting, May 26, 2025 I-Chiun Precision Industry Co., Ltd., Annual General Meeting, May 26, 2025, at 09:00 Taipei Standard Time. Location: 3 floor no,95, wu kung rd., sinjhuang district, new taipei city Taiwan Announcement • Feb 25
I-Chiun Precision Industry Co., Ltd. to Report Q4, 2024 Results on Mar 04, 2025 I-Chiun Precision Industry Co., Ltd. announced that they will report Q4, 2024 results on Mar 04, 2025 New Risk • Dec 16
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.0% 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 Risk Share price has been highly volatile over the past 3 months (8.0% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (1.2% net profit margin). Shareholders have been diluted in the past year (6.2% increase in shares outstanding). Reported Earnings • Nov 15
Third quarter 2024 earnings released: NT$0.06 loss per share (vs NT$0.19 profit in 3Q 2023) Third quarter 2024 results: NT$0.06 loss per share (down from NT$0.19 profit in 3Q 2023). Revenue: NT$1.46b (up 12% from 3Q 2023). Net loss: NT$13.7m (down 134% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. New Risk • Nov 15
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.2% Last year net profit margin: 2.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Profit margins are more than 30% lower than last year (1.2% net profit margin). Shareholders have been diluted in the past year (6.2% increase in shares outstanding). Announcement • Oct 29
I-Chiun Precision Industry Co., Ltd. to Report Q3, 2024 Results on Nov 05, 2024 I-Chiun Precision Industry Co., Ltd. announced that they will report Q3, 2024 results on Nov 05, 2024 New Risk • Aug 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 7.3% 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: Major Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risk Shareholders have been diluted in the past year (7.3% increase in shares outstanding). Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: NT$0.13 (vs NT$0.39 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.13 (down from NT$0.39 in 2Q 2023). Revenue: NT$1.34b (up 11% from 2Q 2023). Net income: NT$29.9m (down 65% from 2Q 2023). Profit margin: 2.2% (down from 7.1% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Announcement • Jul 30
I-Chiun Precision Industry Co., Ltd. to Report Q2, 2024 Results on Aug 06, 2024 I-Chiun Precision Industry Co., Ltd. announced that they will report Q2, 2024 results on Aug 06, 2024 Upcoming Dividend • May 24
Upcoming dividend of NT$0.65 per share Eligible shareholders must have bought the stock before 31 May 2024. Payment date: 25 June 2024. Payout ratio is on the higher end at 81%, however this is supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Taiwanese dividend payers (4.4%). Lower than average of industry peers (2.9%). Reported Earnings • May 18
First quarter 2024 earnings released: NT$0.03 loss per share (vs NT$0.084 profit in 1Q 2023) First quarter 2024 results: NT$0.03 loss per share (down from NT$0.084 profit in 1Q 2023). Revenue: NT$1.17b (up 5.9% from 1Q 2023). Net loss: NT$6.77m (down 137% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 44% per year, which means it is well ahead of earnings. Announcement • May 15
I-Chiun Precision Industry Co., Ltd. Approves Cash Dividend for the Year 2023, Payable on June 25, 2024 I-Chiun Precision Industry Co., Ltd. approved cash dividend of TWD 144,273,076 (TWD 0.65 per share) for the year 2023. Payment date of common stock cash dividend distribution on June 25, 2024. Ex-rights (ex-dividend) record date of June 8, 2024. New Risk • Apr 15
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.5% 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: Major Risk Share price has been highly volatile over the past 3 months (8.7% average weekly change). Minor Risk Shareholders have been diluted in the past year (6.5% increase in shares outstanding). Announcement • Apr 11
I-Chiun Precision Industry Co., Ltd. announced that it expects to receive TWD 120 million in funding I-Chiun Precision Industry Co., Ltd. announced a private placement to issue 12,000,000 common shares at an issue price of TWD 10 per share for the gross proceeds of TWD 120,000,000 on April 9, 2024. The transaction has been approved by the shareholders of the company. Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$63.90, the stock trades at a trailing P/E ratio of 70x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 131% over the past three years. Reported Earnings • Mar 16
Full year 2023 earnings released: EPS: NT$0.92 (vs NT$0.47 in FY 2022) Full year 2023 results: EPS: NT$0.92 (up from NT$0.47 in FY 2022). Revenue: NT$5.07b (down 2.4% from FY 2022). Net income: NT$200.9m (up 95% from FY 2022). Profit margin: 4.0% (up from 2.0% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 06
I-Chiun Precision Industry Co., Ltd., Annual General Meeting, May 30, 2024 I-Chiun Precision Industry Co., Ltd., Annual General Meeting, May 30, 2024. Location: 3F, No. 95, Wugong Rd., Xinzhuang Dist., New Taipei City Taiwan Agenda: To consider 2023 Business Report; to consider 2023 Audit Committee's review report; to consider 2023 Annual Employee Wage and Director Remuneration Distribution Report; to consider Cash Dividend Distribution Report; and to consider other matters. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$48.85, the stock trades at a trailing P/E ratio of 78.6x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 338% over the past three years. New Risk • Aug 13
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 50% 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 Share price has been volatile over the past 3 months (7.1% average weekly change). Large one-off items impacting financial results. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$0.39 (vs NT$0.19 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.39 (up from NT$0.19 in 2Q 2022). Revenue: NT$1.21b (down 16% from 2Q 2022). Net income: NT$85.8m (up 99% from 2Q 2022). Profit margin: 7.1% (up from 3.0% 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 60% per year but the company’s share price has increased by 71% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 04
I-Chiun Precision Industry Co., Ltd. Appoints Horng, Shun-Ching as Member of Remuneration Committee I-Chiun Precision Industry Co., Ltd. announced the appointment of Horng, Shun-Ching as member of remuneration committee. Resume of the new position holder: Senior Marketing Scientist, ZS Associates Inc., USA Professor, Dean and Director of the Institute of Business Administration, National Chengchi University; Associate Professor,Department of Business Management, National Sun Yat-sen University; Independent Director of U-Tech Media Corporation; Independent Director of Aimcore Technology Co., Ltd.; Independent Director of E-Life Mall Corporation. Effective date of the new member August 3, 2023. Announcement • Jun 21
I-Chiun Precision Industry Co., Ltd. (TWSE:2486) acquired an additional 4.9% stake in LuxNet Corporation (TPEX:4979) for apprximately TWD 320 million. I-Chiun Precision Industry Co., Ltd. (TWSE:2486) acquired an additional 4.9% stake in LuxNet Corporation (TPEX:4979) for apprximately TWD 320 million on June 19, 2023. Under the transaction, I-Chiun Precision Industry Co. acquired 6,481,000 shares in LuxNet Corporation at a unit price of NTD 49.28 per share. I-Chiun Precision Industry Co., Ltd. (TWSE:2486) completed the acquisition of an additional 4.9% stake in LuxNet Corporation (TPEX:4979) on June 19, 2023. New Risk • Jun 18
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 34% 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 Share price has been volatile over the past 3 months (6.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.9% net profit margin). Upcoming Dividend • Jun 07
Upcoming dividend of NT$0.40 per share at 0.9% yield Eligible shareholders must have bought the stock before 14 June 2023. Payment date: 13 July 2023. Payout ratio is on the higher end at 86%, however this is supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Taiwanese dividend payers (5.6%). Lower than average of industry peers (4.3%). Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to NT$37.00, the stock trades at a trailing P/E ratio of 78.1x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 405% over the past three years. Announcement • May 13
I-Chiun Precision Industry Co., Ltd. Announces Cash Dividend for the Year 2022, Payable on July 13, 2023 I-Chiun Precision Industry Co., Ltd. announced cash dividend of TWD 0.4 per share for the year 2022. Ex-rights (ex-dividend) trading date is June 14, 2023, Ex-rights (ex-dividend) record date is June 20, 2023 and Payment date of cash dividend distribution is July 13, 2023. Reported Earnings • Mar 15
Full year 2022 earnings released: EPS: NT$0.47 (vs NT$1.80 in FY 2021) Full year 2022 results: EPS: NT$0.47 (down from NT$1.80 in FY 2021). Revenue: NT$5.20b (down 13% from FY 2021). Net income: NT$103.3m (down 73% from FY 2021). Profit margin: 2.0% (down from 6.3% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 73% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$28.40, the stock trades at a trailing P/E ratio of 48.6x. Average trailing P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 316% over the past three years. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improved over the past week After last week's 25% share price gain to NT$22.65, the stock trades at a trailing P/E ratio of 39.5x. Average trailing P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 189% over the past three years. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.17 (vs NT$0.68 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.17 (down from NT$0.68 in 3Q 2021). Revenue: NT$1.27b (down 23% from 3Q 2021). Net income: NT$37.2m (down 74% from 3Q 2021). Profit margin: 2.9% (down from 8.8% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. 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. 3 experienced directors. 4 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Jih-Chien Lee was the last independent director to join the board, commencing their role in 2017. 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$0.17 (vs NT$0.68 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.17 (down from NT$0.68 in 3Q 2021). Revenue: NT$1.27b (down 23% from 3Q 2021). Net income: NT$37.2m (down 74% from 3Q 2021). Profit margin: 2.9% (down from 8.8% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. 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$16.25, the stock trades at a trailing P/E ratio of 15.4x. Average trailing P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 101% over the past three years. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$21.00, the stock trades at a trailing P/E ratio of 19.9x. Average trailing P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 164% over the past three years. Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: NT$0.19 (vs NT$0.66 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.19 (down from NT$0.66 in 2Q 2021). Revenue: NT$1.44b (down 5.7% from 2Q 2021). Net income: NT$43.2m (down 68% from 2Q 2021). Profit margin: 3.0% (down from 8.8% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has only increased by 48% 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 16% share price decline to NT$25.25, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 217% over the past three years. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$29.50, the stock trades at a trailing P/E ratio of 20.2x. Average trailing P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 267% over the past three years. Upcoming Dividend • May 26
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 02 June 2022. Payment date: 11 July 2022. Trailing yield: 1.3%. Lower than top quartile of Taiwanese dividend payers (6.1%). Lower than average of industry peers (4.3%). Reported Earnings • May 17
First quarter 2022 earnings released: EPS: NT$0.13 (vs NT$0.40 in 1Q 2021) First quarter 2022 results: EPS: NT$0.13 (down from NT$0.40 in 1Q 2021). Revenue: NT$1.34b (up 1.8% from 1Q 2021). Net income: NT$28.7m (down 64% from 1Q 2021). Profit margin: 2.1% (down from 6.1% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 65% per year, which means it is significantly lagging earnings growth. Announcement • May 13
I-Chiun Precision Industry Co., Ltd. Announces Cash Dividend for 2021, Payable on July 11, 2022 I-Chiun Precision Industry Co., Ltd. announced cash dividend of TWD 77,685,503 (TWD 0.35 per share) for 2021, payable on July 11, 2022. Ex-rights (ex-dividend) record date is June 11, 2022. Cash distribution from capital surplus: TWD 33,293,787 (TWD 0.15 per share). Price Target Changed • Apr 27
Price target increased to NT$80.00 Up from NT$56.04, the current price target is provided by 1 analyst. New target price is 115% above last closing price of NT$37.15. Stock is up 6.4% over the past year. The company posted earnings per share of NT$1.79 last year. 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. 3 experienced directors. 4 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Jih-Chien Lee was the last independent director to join the board, commencing their role in 2017. 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: EPS: NT$1.79 (vs NT$0.75 loss in FY 2020) Full year 2021 results: EPS: NT$1.79 (up from NT$0.75 loss in FY 2020). Revenue: NT$5.99b (up 43% from FY 2020). Net income: NT$375.8m (up NT$523.8m from FY 2020). Profit margin: 6.3% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 31%, compared to a 10% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 74% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 15% share price gain to NT$45.00, the stock trades at a trailing P/E ratio of 35x. Average forward P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 397% over the past three years. Announcement • Mar 10
I-Chiun Precision Industry Co., Ltd. Proposes Dividend for the Fiscal Year Ended December 31, 2021 I-Chiun Precision Industry Co., Ltd. proposed dividend of TWD 0.5 per share for the fiscal year ended December 31, 2021. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS NT$0.68 (vs NT$0.047 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.64b (up 45% from 3Q 2020). Net income: NT$143.4m (up NT$152.6m from 3Q 2020). Profit margin: 8.8% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has increased by 89% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment deteriorated over the past week After last week's 20% share price decline to NT$50.30, the stock trades at a trailing P/E ratio of 76.5x. Average forward P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 409% over the past three years. Reported Earnings • Aug 12
Second quarter 2021 earnings released: EPS NT$0.66 (vs NT$0.045 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.52b (up 48% from 2Q 2020). Net income: NT$133.3m (up NT$124.3m from 2Q 2020). Profit margin: 8.8% (up from 0.9% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 65% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 14
First quarter 2021 earnings released: EPS NT$0.40 (vs NT$0.39 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.31b (up 59% from 1Q 2020). Net income: NT$80.7m (up NT$156.6m from 1Q 2020). Profit margin: 6.1% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 38% per year, which means it is well ahead of earnings. Reported Earnings • Mar 24
Full year 2020 earnings released: NT$0.75 loss per share (vs NT$0.90 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: NT$4.20b (up 14% from FY 2019). Net loss: NT$148.0m (loss narrowed 17% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 41% per year, which means it is well ahead of earnings. Announcement • Mar 14
I-Chiun Precision Industry Co., Ltd., Annual General Meeting, Jun 07, 2021 I-Chiun Precision Industry Co., Ltd., Annual General Meeting, Jun 07, 2021. Is New 90 Day High Low • Feb 22
New 90-day high: NT$22.40 The company is up 32% from its price of NT$17.00 on 24 November 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 23% over the same period. Reported Earnings • Nov 12
Third quarter 2020 earnings released: NT$0.05 loss per share The company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: NT$1.13b (up 23% from 3Q 2019). Net loss: NT$9.19m (loss narrowed 83% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Nov 04
New 90-day high: NT$14.20 The company is up 62% from its price of NT$8.79 on 06 August 2020. The Taiwanese market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 5.0% over the same period. Is New 90 Day High Low • Oct 15
New 90-day high: NT$14.05 The company is up 58% from its price of NT$8.88 on 17 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 4.0% over the same period. Is New 90 Day High Low • Sep 18
New 90-day high: NT$12.90 The company is up 77% from its price of NT$7.30 on 19 June 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 4.0% over the same period.