Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to NT$27.55, the stock trades at a trailing P/E ratio of 47.6x. Average trailing P/E is 23x in the Tech industry in Taiwan. Total returns to shareholders of 31% over the past three years. New Risk • Jun 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 9.4% 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 25% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (183% payout ratio). Share price has been volatile over the past 3 months (9.4% average weekly change). Valuation Update With 7 Day Price Move • May 25
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$20.65, the stock trades at a trailing P/E ratio of 35.7x. Average trailing P/E is 22x in the Tech industry in Taiwan. Total returns to shareholders of 4.5% over the past three years. Buy Or Sell Opportunity • May 22
Now 22% overvalued The stock has been flat over the last 90 days, currently trading at NT$18.80. The fair value is estimated to be NT$15.40, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 58%. Reported Earnings • May 15
First quarter 2026 earnings released: EPS: NT$0.19 (vs NT$0.06 loss in 1Q 2025) First quarter 2026 results: EPS: NT$0.19 (up from NT$0.06 loss in 1Q 2025). Revenue: NT$703.9m (flat on 1Q 2025). Net income: NT$17.9m (up NT$23.7m from 1Q 2025). Profit margin: 2.5% (up from net loss in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Apr 09
Upcoming dividend of NT$0.60 per share Eligible shareholders must have bought the stock before 16 April 2026. Payment date: 15 May 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.1%). In line with average of industry peers (3.5%). Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: NT$0.33 (vs NT$0.58 in FY 2024) Full year 2025 results: EPS: NT$0.33 (down from NT$0.58 in FY 2024). Revenue: NT$3.34b (down 3.9% from FY 2024). Net income: NT$31.2m (down 44% from FY 2024). Profit margin: 0.9% (down from 1.6% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Mar 12
Welltend Technology Corporation, Annual General Meeting, Jun 17, 2026 Welltend Technology Corporation, Annual General Meeting, Jun 17, 2026. Location: b1 floor no,85, sec.4 luo szu fu rd., taipei city Taiwan New Risk • Mar 02
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: 1.7% 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 Earnings have declined by 16% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (1.1% net profit margin). Market cap is less than US$100m (NT$1.65b market cap, or US$52.2m). Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: NT$0.43 (vs NT$0.48 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.43 (down from NT$0.48 in 3Q 2024). Revenue: NT$883.9m (down 12% from 3Q 2024). Net income: NT$41.2m (down 11% from 3Q 2024). Profit margin: 4.7% (up from 4.6% in 3Q 2024). The increase in margin was driven by lower 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 6% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 19
Upcoming dividend of NT$0.30 per share Eligible shareholders must have bought the stock before 26 September 2025. Payment date: 28 October 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.5%). Reported Earnings • Aug 16
Second quarter 2025 earnings released: EPS: NT$0.09 (vs NT$0.38 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.09 (down from NT$0.38 in 2Q 2024). Revenue: NT$819.0m (down 7.6% from 2Q 2024). Net income: NT$9.02m (down 75% from 2Q 2024). Profit margin: 1.1% (down from 4.1% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Reported Earnings • May 21
First quarter 2025 earnings released: NT$0.06 loss per share (vs NT$0.33 profit in 1Q 2024) First quarter 2025 results: NT$0.06 loss per share (down from NT$0.33 profit in 1Q 2024). Revenue: NT$707.3m (down 7.3% from 1Q 2024). Net loss: NT$5.72m (down 118% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. New Risk • May 14
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: 1.6% Last year net profit margin: 4.3% 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 Profit margins are more than 30% lower than last year (1.6% net profit margin). Market cap is less than US$100m (NT$1.69b market cap, or US$55.7m). Announcement • May 03
Welltend Technology Corporation to Report Q1, 2025 Results on May 12, 2025 Welltend Technology Corporation announced that they will report Q1, 2025 results on May 12, 2025 New Risk • Mar 31
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: Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Market cap is less than US$100m (NT$1.90b market cap, or US$57.1m). Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$19.80, the stock trades at a trailing P/E ratio of 12.5x. Average trailing P/E is 19x in the Tech industry in Taiwan. Negligible returns to shareholders over past three years. Announcement • Mar 28
Welltend Technology Corporation, Annual General Meeting, Jun 16, 2025 Welltend Technology Corporation, Annual General Meeting, Jun 16, 2025, at 09:00 Taipei Standard Time. Location: 1 floor no,61, tung hsing rd., sinyi district, taipei city Taiwan Announcement • Mar 27
Welltend Technology Corporation Announces Cash Dividend for the Year Ended December 31, 2024 Welltend Technology Corporation announced cash dividend of TWD 0.3 per share for the year ended December 31, 2024. Announcement • Mar 19
Welltend Technology Corporation to Report Q4, 2024 Results on Mar 26, 2025 Welltend Technology Corporation announced that they will report Q4, 2024 results on Mar 26, 2025 Announcement • Mar 04
Welltend Technology Corporation to Report Fiscal Year 2024 Results on Mar 11, 2025 Welltend Technology Corporation announced that they will report fiscal year 2024 results on Mar 11, 2025 New Risk • Dec 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (8.9% average weekly change). Minor Risk Market cap is less than US$100m (NT$2.77b market cap, or US$85.3m). Valuation Update With 7 Day Price Move • Nov 26
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$36.90, the stock trades at a trailing P/E ratio of 23.3x. Average trailing P/E is 22x in the Tech industry in Taiwan. Total returns to shareholders of 67% over the past three years. Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: NT$0.48 (vs NT$0.10 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.48 (up from NT$0.10 in 3Q 2023). Revenue: NT$1.01b (up 30% from 3Q 2023). Net income: NT$46.1m (up 358% from 3Q 2023). Profit margin: 4.6% (up from 1.3% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Announcement • Nov 05
Welltend Technology Corporation to Report Q3, 2024 Results on Nov 12, 2024 Welltend Technology Corporation announced that they will report Q3, 2024 results on Nov 12, 2024 Valuation Update With 7 Day Price Move • Oct 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$32.30, the stock trades at a trailing P/E ratio of 26.8x. Average trailing P/E is 22x in the Tech industry in Taiwan. Total returns to shareholders of 66% over the past three years. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$26.95, the stock trades at a trailing P/E ratio of 22.4x. Average trailing P/E is 20x in the Tech industry in Taiwan. Total returns to shareholders of 29% over the past three years. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.37 (vs NT$0.53 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.37 (down from NT$0.53 in 2Q 2023). Revenue: NT$886.0m (up 28% from 2Q 2023). Net income: NT$36.3m (down 29% from 2Q 2023). Profit margin: 4.1% (down from 7.4% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$21.25, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 20x in the Tech industry in Taiwan. Negligible returns to shareholders over past three years. Announcement • Aug 03
Welltend Technology Corporation to Report Q2, 2024 Results on Aug 12, 2024 Welltend Technology Corporation announced that they will report Q2, 2024 results on Aug 12, 2024 Declared Dividend • Jun 24
Dividend reduced to NT$0.30 Dividend of NT$0.30 is 57% lower than last year. Ex-date: 9th July 2024 Payment date: 5th August 2024 Dividend yield will be 1.2%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (8% cash payout ratio). The dividend has increased by an average of 3.3% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 1.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 12
First quarter 2024 earnings released: EPS: NT$0.33 (vs NT$0.31 in 1Q 2023) First quarter 2024 results: EPS: NT$0.33 (up from NT$0.31 in 1Q 2023). Revenue: NT$763.0m (up 2.3% from 1Q 2023). Net income: NT$31.2m (up 6.1% from 1Q 2023). Profit margin: 4.1% (up from 3.9% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$25.70, the stock trades at a trailing P/E ratio of 19.6x. Average trailing P/E is 24x in the Tech industry in Taiwan. Total returns to shareholders of 80% over the past three years. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: NT$0.10 (vs NT$0.59 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.10 (down from NT$0.59 in 3Q 2022). Revenue: NT$774.5m (down 30% from 3Q 2022). Net income: NT$10.1m (down 82% from 3Q 2022). Profit margin: 1.3% (down from 5.2% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 14% per year. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$27.15, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 22x in the Tech industry in Taiwan. Total returns to shareholders of 74% over the past three years. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$0.53 (vs NT$0.42 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.53 (up from NT$0.42 in 2Q 2022). Revenue: NT$690.6m (down 22% from 2Q 2022). Net income: NT$51.1m (up 28% from 2Q 2022). Profit margin: 7.4% (up from 4.5% 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 19% per year whereas the company’s share price has increased by 17% per year. Upcoming Dividend • Jun 28
Upcoming dividend of NT$0.70 per share at 3.1% yield Eligible shareholders must have bought the stock before 05 July 2023. Payment date: 31 July 2023. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.1%). Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: NT$1.92 (vs NT$1.37 in FY 2021) Full year 2022 results: EPS: NT$1.92 (up from NT$1.37 in FY 2021). Revenue: NT$3.91b (up 16% from FY 2021). Net income: NT$184.2m (up 41% from FY 2021). Profit margin: 4.7% (up from 3.9% in FY 2021). The increase in margin was driven by higher revenue. 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 27% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 17% share price gain to NT$23.85, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 13x in the Tech industry in Taiwan. Total returns to shareholders of 73% over the past three years. Upcoming Dividend • Aug 18
Upcoming dividend of NT$0.30 per share Eligible shareholders must have bought the stock before 25 August 2022. Payment date: 30 September 2022. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Taiwanese dividend payers (6.4%). Lower than average of industry peers (7.3%). Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.43 (vs NT$0.26 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.43 (up from NT$0.26 in 2Q 2021). Revenue: NT$890.3m (up 16% from 2Q 2021). Net income: NT$39.9m (up 65% from 2Q 2021). Profit margin: 4.5% (up from 3.2% in 2Q 2021). 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 14% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 17
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: NT$0.56 (up from NT$0.36 in 1Q 2021). Revenue: NT$1.01b (up 24% from 1Q 2021). Net income: NT$52.3m (up 56% from 1Q 2021). Profit margin: 5.2% (up from 4.1% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) also missed analyst estimates by 4.0%. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.68 (vs NT$0.35 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$932.1m (up 22% from 3Q 2020). Net income: NT$63.6m (up 98% from 3Q 2020). Profit margin: 6.8% (up from 4.2% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 15% share price gain to NT$24.60, the stock trades at a trailing P/E ratio of 22.1x. Average trailing P/E is 14x in the Tech industry in Taiwan. Total returns to shareholders of 80% over the past three years. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS NT$0.26 (vs NT$0.59 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$765.0m (up 14% from 2Q 2020). Net income: NT$24.1m (down 56% from 2Q 2020). Profit margin: 3.2% (down from 8.3% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 10
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$23.30, the stock trades at a trailing P/E ratio of 16.1x. Average trailing P/E is 15x in the Tech industry in Taiwan. Total returns to shareholders of 74% over the past three years. Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment improved over the past week After last week's 23% share price gain to NT$24.80, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 16x in the Tech industry in Taiwan. Total returns to shareholders of 88% over the past three years. Upcoming Dividend • Jun 24
Upcoming dividend of NT$0.70 per share Eligible shareholders must have bought the stock before 01 July 2021. Payment date: 28 July 2021. Trailing yield: 3.4%. Lower than top quartile of Taiwanese dividend payers (5.0%). Lower than average of industry peers (5.0%). Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$19.30, the stock trades at a trailing P/E ratio of 18.8x. Average trailing P/E is 16x in the Tech industry in Taiwan. Total returns to shareholders of 38% over the past three years. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS NT$1.03 (vs NT$1.44 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: NT$2.72b (up 8.2% from FY 2019). Net income: NT$96.0m (down 30% from FY 2019). Profit margin: 3.5% (down from 5.4% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improved over the past week After last week's 25% share price gain to NT$20.55, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 17x in the Tech industry in Taiwan. Total returns to shareholders of 51% over the past three years. Is New 90 Day High Low • Mar 11
New 90-day high: NT$15.90 The company is up 6.0% from its price of NT$14.95 on 11 December 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 9.0% over the same period. Is New 90 Day High Low • Jan 20
New 90-day high: NT$15.85 The company is up 3.0% from its price of NT$15.45 on 22 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 14% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.35 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: NT$765.7m (up 18% from 3Q 2019). Net income: NT$32.2m (down 28% from 3Q 2019). Profit margin: 4.2% (down from 6.9% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 1% per year. Is New 90 Day High Low • Nov 12
New 90-day low: NT$14.45 The company is down 3.0% from its price of NT$14.95 on 14 August 2020. The Taiwanese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Tech industry, which is also down 3.0% over the same period.