Reported Earnings • Apr 24
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: EPS: NT$3.00 (down from NT$3.85 in 1Q 2025). Revenue: NT$8.29b (up 1.6% from 1Q 2025). Net income: NT$865.0m (down 6.4% from 1Q 2025). Profit margin: 10% (in line with 1Q 2025). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 22%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 5% per year. Buy Or Sell Opportunity • Apr 10
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 42% to NT$274. The fair value is estimated to be NT$228, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to grow by 21% in 2 years. Earnings are forecast to grow by 31% in the next 2 years. Price Target Changed • Mar 23
Price target increased by 7.9% to NT$285 Up from NT$264, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of NT$274. Stock is up 0.6% over the past year. The company is forecast to post earnings per share of NT$14.91 for next year compared to NT$13.02 last year. Announcement • Mar 06
SINBON Electronics Co., Ltd., Annual General Meeting, May 27, 2026 SINBON Electronics Co., Ltd., Annual General Meeting, May 27, 2026, at 09:00 Taipei Standard Time. Location: 4-1 floor no,79, sec.1 hsin t`ai 5th rd., sijhih district, new taipei city Taiwan Reported Earnings • Mar 06
Full year 2025 earnings released: EPS: NT$13.02 (vs NT$14.70 in FY 2024) Full year 2025 results: EPS: NT$13.02 (down from NT$14.70 in FY 2024). Revenue: NT$31.0b (down 6.2% from FY 2024). Net income: NT$3.12b (down 11% from FY 2024). Profit margin: 10% (in line with FY 2024). Revenue is forecast to grow 8.9% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jan 27
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 4.8% to NT$228. The fair value is estimated to be NT$187, 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 grown by 4.7%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to grow by 16% in the next 2 years. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$228, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 18x in the Electronic industry in Taiwan. Total loss to shareholders of 12% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$187 per share. Price Target Changed • Dec 17
Price target decreased by 8.4% to NT$259 Down from NT$282, the current price target is an average from 8 analysts. New target price is 27% above last closing price of NT$204. Stock is down 22% over the past year. The company is forecast to post earnings per share of NT$12.57 for next year compared to NT$14.70 last year. Price Target Changed • Nov 27
Price target decreased by 8.4% to NT$259 Down from NT$282, the current price target is an average from 8 analysts. New target price is 16% above last closing price of NT$222. Stock is down 11% over the past year. The company is forecast to post earnings per share of NT$12.57 for next year compared to NT$14.70 last year. Buy Or Sell Opportunity • Nov 20
Now 22% overvalued Over the last 90 days, the stock has fallen 4.7% to NT$212. The fair value is estimated to be NT$174, 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 grown by 4.7%. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 15% in the next 2 years. Reported Earnings • Oct 25
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: NT$3.05 (down from NT$3.95 in 3Q 2024). Revenue: NT$7.55b (down 10% from 3Q 2024). Net income: NT$731.9m (down 23% from 3Q 2024). Profit margin: 9.7% (down from 11% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 7.1%. Earnings per share (EPS) also missed analyst estimates by 10%. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Oct 16
Now 22% overvalued Over the last 90 days, the stock has fallen 1.7% to NT$225. The fair value is estimated to be NT$185, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has grown by 7.9%. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to grow by 9.5% in the next 2 years. Announcement • Sep 16
Sinbon Electronics Co., Ltd.'S Battery Show 2025 Debut to Expand Possibilities for EV and Charging Technologies SINBON Electronics Co., Ltd. announced its first appearance at The Battery Show North America 2025, under the theme Plug-and-Play Revolution: Reliable Charging Systems for a Connected World. SINBON will showcase its latest EV innovations, including cutting-edge thermal management and high-power charging solutions, all designed to improve performance, energy efficiency, thermal efficiency and compatibility. In addition to a rapidly growing impact across EVs and electric vehicle supply equipment (EVSE), SINBON has recently opened a new manufacturing facility in Ohio, which more than doubled the company's US manufacturing footprint and expanded its dedicated regional supply chain. Through strengthening collaboration and manufacturing capabilities, the company is aiming to further empower partners, contribute to the US EV industry's leadership globally, and advance EV infrastructure and clean transportation worldwide. While the US EV industry is facing domestic challenges, the global outlook remains positive. According to BloombergNEF, global passenger EV sales are forecast to grow 25% in 2025, with sales expected to reach 39 million units by 2030 -- more than double the 17.6 million sold in 2024. Much of this growth is being fueled by emerging economies such as Vietnam, Thailand, and Brazil, where demand for electrification continues to accelerate. The Plug-and Play Revolution: Technologies for the future of EVs and XFC. At The Battery Show, SINBON will present a complete offering of cutting-edge technologies designed to empower EV and charging infrastructure partners. These include several charging cables and interconnect components: High-power charging cables: Engineered for ultra-high current ratings of up to 600A, these deliver reliable performance for high-demand fast-charging scenarios. Liquid-cooling charging cables: These enable extreme fast charging (XFC), cutting charging times and increasing energy efficiency to make electrification more viable for both consumer and commercial fleets. NACS liquid-cooling charging cables: Compatible with the next-generation North American Charging Standard (NACS), these cables feature efficient liquid cooling to enable increased power flow, reduced charging times and heat degradation, and extended service life. Advanced cooling units for charging stations: SINBON's custom-designed thermal management systems reduce energy loss, improve reliability, and support long-term performance. The company's most advanced solution is its proprietary liquid cooling system, which secured the world's first UL safety certification early this year for a liquid cooling system for EV charging stations. This system can deploy up to a 1 MW charger to charge a 100 kWh battery in 6-8 minutes, helping EV infrastructure companies to meet their goals of safely delivering higher power and faster charging. NACS and CCS charging inlets: These modular, lightweight inlets are designed by SINBON for broad compatibility across EV platforms and for excellent conductivity across aluminum busbars, aluminum rods, and copper alloys. Buy Or Sell Opportunity • Sep 15
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 1.1% to NT$228. The fair value is estimated to be NT$187, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has grown by 7.9%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 9.5% in the next 2 years. Upcoming Dividend • Aug 14
Upcoming dividend of NT$10.25 per share Eligible shareholders must have bought the stock before 21 August 2025. Payment date: 17 September 2025. Payout ratio is a comfortable 73% and the cash payout ratio is 94%. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.6%). Declared Dividend • Jul 26
Dividend increased to NT$10.25 Dividend of NT$10.25 is 6.8% higher than last year. Ex-date: 21st August 2025 Payment date: 17th September 2025 Dividend yield will be 4.3%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (69% earnings payout ratio) but not adequately covered by cash flows (94% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 25
Second quarter 2025 earnings released: EPS: NT$3.16 (vs NT$3.90 in 2Q 2024) Second quarter 2025 results: EPS: NT$3.16 (down from NT$3.90 in 2Q 2024). Revenue: NT$7.74b (down 6.9% from 2Q 2024). Net income: NT$759.1m (down 19% from 2Q 2024). Profit margin: 9.8% (down from 11% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Jun 11
SINBON Electronics Co., Ltd. Secures World's First UL Safety Certification for Liquid Cooling System for EV Charging Stations SINBON Electronics Co., Ltd. announced its proprietary liquid cooling system has secured the world's first UL safety certification for liquid cooling system of EV charging stations. As EV adoption accelerates, the demand for faster, more efficient charging solutions is growing. Liquid cooling is emerging as a critical enabler of extreme fast charging (XFC), which greatly reduces charging times, making electrification more viable for both consumers and commercial fleets. Liquid cooling system like SINBON's addresses several key industry challenges: Reduced charging times: By enabling higher power delivery, liquid cooling system significantly shortens EV charging durations -- ideal for EV drivers and essential for commercial applications like electrified long-haul freight trucks. Enhanced energy efficiency: The system minimizes heat buildup in cables, reducing energy loss and improving overall system performance. Lighter, more flexible cables: Liquid cooling allows for thinner, more manageable cables without compromising safety or performance. Thermal stability: This system also maintains optimal temperatures, ensuring consistent power delivery and safe operation. SINBON recently secured UL certification, marking a significant achievement for the company's EV solutions, confirming the safety, reliability, and performance of its liquid cooling system. A globally recognized safety authority, UL rigorously scrutinizes products across design, materials, manufacturing, and performance. This certification also illustrates SINBON's leadership in R&D and its commitment to setting new industry standards. Pushing the boundaries of charging power: SINBON's charging solutions powered by its cutting-edge liquid cooling system can deliver up to 1 Megawatt (MW; 1000A at 1000V), enabling ultra-fast charging scenarios: 6-minute charge: At 1 MW power load, a 100 kWh battery can be charged in just six minutes. Cross-standard support: SINBON works with all major charging standards, including NACS DC, CCS1, CCS2, and MCS. SINBON's advantages in liquid cooling system is engineered for versatility and durability: Innovative split design: Unlike traditional integrated designs, SINBON's split design enhances flexibility and maintenance; Extreme environmental resistance: Operates reliably in harsh conditions, including temperatures as low as-40degC--ideal for rugged EV deployments; Rapid, even heat dissipation: Effectively removes heat from charging components, maintaining system integrity; Rigorous testing: Extensively tested, particularly with SINBON's own charging cables to ensure seamless performance and integration; Support for multiple coolants: Compatible with both water-based and oil-based coolants. Announcement • May 15
Sinbon Electronics Co., Ltd. Launches New Fleet Management Platform and High-Powered 750W Fat Tire E-Bike System Prototype SINBON Electronics Co., Ltd. announcing its new fleet management platform and high-powered 750W fat tire e-bike system prototype ahead of EuroBike 2025. Under the theme "You ride it, we connect it", SINBON will attend the global cycling and ecomobility trade show for the third consecutive year to showcase its cutting-edge innovations in smart mobility and connectivity. At this year's event, SINBON will focus on four key areas aimed at moving the industry forward: Connect to Journeys – New Fleet Management Solution The solution is a seamless integration of modular software and e-bike hardware, empowering fleet operators with real-time tracking, diagnostics, rental management, and backend systems. Originally designed for a regional e-bike mobility service, this solution also supports traditional bikes and light EVs, and its scalability can match fleet sizes from compact local fleets to broader multi-region operations. The solution offers modular flexibility, with the platform and fleet also available separately based on needs. This allows SINBON to optimize system configuration, enhance data flow, and meet compliance needs while customizing solutions to each business' specific requirements. Connect to Power – Fat Tire E-bike System SINBON is demoing a prototype of its powerful 750W fat tire e-bike system, delivering top performance for off-road adventures and cargo transport across terrains. With SINBON creating the high-powered drivetrain and handling the integration of the bike's electronic systems, this model demonstrates how the company works closely with bike manufacturers to deliver maximum performance and connected rider experiences. Connect to Cloud – Full-Stack Software Solutions SINBON offers full-stack software from the factory to the end user, including: User app for personalized settings and tracking ride data Providing real-time, wireless maintenance, the maintenance app now can perform diagnostics fully wirelessly without a physical dongle bridge, reducing maintenance costs for dealers while improving efficiency and convenience of service. Platform for real-time component verification during bike assembly As a leading provider of electronic system integration, SINBON supports its growing European customer base through its manufacturing facility and logistics hub in Tatabánya, Hungary (3,800 m²). The company also maintains a direct sales presence in the UK and Germany, with additional coverage provided by local representatives and distributors across Europe. Reported Earnings • May 01
First quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2025 results: EPS: NT$3.85 (up from NT$3.80 in 1Q 2024). Revenue: NT$8.16b (up 1.5% from 1Q 2024). Net income: NT$924.4m (up 1.4% from 1Q 2024). Profit margin: 11% (in line with 1Q 2024). Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) exceeded analyst estimates by 9.4%. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Apr 19
SINBON Electronics Co., Ltd. to Report Q1, 2025 Results on Apr 30, 2025 SINBON Electronics Co., Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 New Risk • Apr 10
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 7.9% 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 Dividend is not well covered by cash flows (125% cash payout ratio). Share price has been volatile over the past 3 months (7.9% average weekly change). Buy Or Sell Opportunity • Apr 10
Now 28% overvalued Over the last 90 days, the stock has fallen 22% to NT$205. The fair value is estimated to be NT$160, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to grow by 17% in the next 2 years. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$207, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Electronic industry in Taiwan. Total loss to shareholders of 8.9% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$162 per share. Reported Earnings • Mar 08
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: NT$14.70 (up from NT$13.71 in FY 2023). Revenue: NT$33.1b (up 1.0% from FY 2023). Net income: NT$3.53b (up 7.5% from FY 2023). Profit margin: 11% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Mar 07
SINBON Electronics Co., Ltd., Annual General Meeting, May 27, 2025 SINBON Electronics Co., Ltd., Annual General Meeting, May 27, 2025. Location: 4-1 floor no,79, sec.1 hsin t`ai 5th rd., sijhih district, new taipei city Taiwan Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$320, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 26% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$191 per share. Announcement • Feb 25
SINBON Electronics Co., Ltd. to Report Q4, 2024 Results on Mar 06, 2025 SINBON Electronics Co., Ltd. announced that they will report Q4, 2024 results on Mar 06, 2025 Buy Or Sell Opportunity • Dec 04
Now 21% overvalued Over the last 90 days, the stock has fallen 11% to NT$260. The fair value is estimated to be NT$214, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.0% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 21% in the next 2 years. Reported Earnings • Oct 24
Third quarter 2024 earnings: EPS exceeds analyst expectations Third quarter 2024 results: EPS: NT$3.95 (up from NT$3.66 in 3Q 2023). Revenue: NT$8.43b (up 2.7% from 3Q 2023). Net income: NT$949.1m (up 8.1% from 3Q 2023). Profit margin: 11% (in line with 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.2%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Oct 15
SINBON Electronics Co., Ltd. to Report Q3, 2024 Results on Oct 22, 2024 SINBON Electronics Co., Ltd. announced that they will report Q3, 2024 results on Oct 22, 2024 Upcoming Dividend • Aug 09
Upcoming dividend of NT$9.60 per share Eligible shareholders must have bought the stock before 16 August 2024. Payment date: 13 September 2024. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Taiwanese dividend payers (4.6%). In line with average of industry peers (3.0%). Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$278, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$223 per share. Announcement • Jul 11
SINBON Electronics Co., Ltd. to Report Q2, 2024 Results on Jul 19, 2024 SINBON Electronics Co., Ltd. announced that they will report Q2, 2024 results on Jul 19, 2024 Announcement • May 18
SINBON Announces Ahead of Eurobike 2024 the Launch of its Latest Electric Bike Solutions SINBON is announcing ahead of Eurobike 2024 the launch of its latest electric bike solutions -- an all-new Tracking and Alert System accessible via its e-bike app and the addition of a through-axle rear hub motor option for e-bike makers. Aiming to strengthen the connection between riders and e-bikes, the company will attend EuroBike 2024 (July 3-7), displaying its full range of capabilities as a one-stop-shop for e-bike solutions and services -- including these new solutions and fully customizable software for e-bike makers to provide their riders. Embracing an integrated approach to e-bike solutions and services, SINBON offers e-bike makers a fully customizable e-bike app and E-Bike Maintenance System. As part of the app and on-vehicle technology, the new Tracking and Alert System offers: Real-time monitoring of location via GPS; Phone alerts when an e-bike is moved or stolen; An alarm system for attempted theft; Support for iOS and Android, as well as for the iOS-based AirTag for further tracking capabilities. Illustrating the importance SINBON places on post-sales services and support, the E-Bike Maintenance System is an all-in-one software solution that helps riders keep better track of maintenance needs while also facilitating upkeep for bike technicians. Expanding SINBON's Chariot line of e-bike motors, the brand is launching a through-axle rear hub motor and motor controller that will provide further drive options for e-bike makers. This latest cutting-edge motor delivers: Quick release functionality: Ensures easy installation and removal, allowing riders to replace or repair parts with minimal downtime. Reduced failure rate: Overall reliability of the e-bike is enhanced, reducing the likelihood of malfunctions and extending motor lifespan. Stiffness and strength: Offers superior structural integrity, which translates to better performance and durability, especially on rough terrains. For electric city and road bike brands alike, SINBON combines robust experience in electronic manufacturing with a worldwide footprint across Europe, the US, and Asia, ensuring riders benefit from its signature blend of technology, customer-centric service, rapid deployment, and customized solutions tailored to local customer needs. Beyond offering bespoke connectors and cable solutions, SINBON has a wide range of solutions and services that make it a one-stop-shop for the e-bike industry — spanning components, Display and control unit, Motor Controller, firmware software integration and Design Quality Engineering services — with global manufacturing footprints and a particular focus on post-sales services that ensure customer success. Reported Earnings • Apr 22
First quarter 2024 earnings: EPS exceeds analyst expectations First quarter 2024 results: EPS: NT$3.80 (up from NT$3.75 in 1Q 2023). Revenue: NT$8.04b (down 5.1% from 1Q 2023). Net income: NT$911.5m (up 2.0% from 1Q 2023). Profit margin: 11% (in line with 1Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.2%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 19
Price target increased by 7.8% to NT$363 Up from NT$337, the current price target is an average from 8 analysts. New target price is 31% above last closing price of NT$278. Stock is down 18% over the past year. The company is forecast to post earnings per share of NT$14.88 for next year compared to NT$13.71 last year. Announcement • Apr 12
SINBON Electronics Co., Ltd. to Report Q1, 2024 Results on Apr 18, 2024 SINBON Electronics Co., Ltd. announced that they will report Q1, 2024 results on Apr 18, 2024 Reported Earnings • Mar 10
Full year 2023 earnings released: EPS: NT$13.71 (vs NT$12.22 in FY 2022) Full year 2023 results: EPS: NT$13.71 (up from NT$12.22 in FY 2022). Revenue: NT$32.8b (up 7.2% from FY 2022). Net income: NT$3.28b (up 14% from FY 2022). Profit margin: 10.0% (in line with FY 2022). Revenue is forecast to grow 8.9% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Mar 08
SINBON Electronics Co., Ltd., Annual General Meeting, May 30, 2024 SINBON Electronics Co., Ltd., Annual General Meeting, May 30, 2024. Location: 4F-13, No.79, Sec. 1, Hsin Tai Wu Rd., New Tapei City Taiwan Agenda: To consider 2023 Business Report; to consider audit committee Review Report on the 2023 Financial Statements; to consider the Status of Domestic Unsecured Convertible Bonds VII; to consider the Status of Domestic Unsecured Convertible Bonds VIII; to consider remuneration to Employees, Directors; to consider implementation of the improvement plan on the company's subsidiary, Beijing SINBON Electronics Co.,Ltd.'s financing balance to others which exceeds the limit; to consider implementation of the improvement plan on the company's subsidiary; and to transact other business. Reported Earnings • Oct 29
Third quarter 2023 earnings: EPS exceeds analyst expectations Third quarter 2023 results: EPS: NT$3.66 (up from NT$3.58 in 3Q 2022). Revenue: NT$8.21b (up 1.0% from 3Q 2022). Net income: NT$878.3m (up 4.0% from 3Q 2022). Profit margin: 11% (in line with 3Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.8%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 15% per year. Upcoming Dividend • Aug 24
Upcoming dividend of NT$8.46 per share at 2.6% yield Eligible shareholders must have bought the stock before 31 August 2023. Payment date: 28 September 2023. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (5.6%). Lower than average of industry peers (4.2%). Reported Earnings • Jul 27
Second quarter 2023 earnings released: EPS: NT$3.82 (vs NT$3.22 in 2Q 2022) Second quarter 2023 results: EPS: NT$3.82 (up from NT$3.22 in 2Q 2022). Revenue: NT$8.72b (up 17% from 2Q 2022). Net income: NT$912.0m (up 20% from 2Q 2022). Profit margin: 11% (in line with 2Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electronic industry in Taiwan. 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 25% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 26
SINBON Electronics Co., Ltd. Announces Dividend Distribution, Payable on September 28, 2023 SINBON Electronics Co., Ltd. announced the schedule of ex-dividend Type and monetary amount of dividend distribution: Cash dividend amount: TWD 2,030,998,687. Ex-rights (ex-dividend) trading date: August 31, 2023. Ex-rights (ex-dividend) record date: September 8, 2023. Payment date of cash dividend distribution: September 28, 2023. Reported Earnings • Mar 15
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: NT$12.22 (up from NT$10.00 in FY 2021). Revenue: NT$30.6b (up 20% from FY 2021). Net income: NT$2.88b (up 24% from FY 2021). Profit margin: 9.4% (up from 9.1% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.5%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent Director & Supervisor Hou-Ming Chen was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 23
Third quarter 2022 earnings: EPS exceeds analyst expectations Third quarter 2022 results: EPS: NT$3.58 (up from NT$2.83 in 3Q 2021). Revenue: NT$8.13b (up 22% from 3Q 2021). Net income: NT$844.6m (up 28% from 3Q 2021). Profit margin: 10% (in line with 3Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.0%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 15
Second quarter 2022 earnings: Revenues exceed analyst expectations Second quarter 2022 results: Revenue: NT$7.48b (up 17% from 2Q 2021). Net income: NT$758.2m (up 19% from 2Q 2021). Profit margin: 10% (in line with 2Q 2021). Revenue exceeded analyst estimates by 1.3%. Over the next year, revenue is forecast to grow 16%, compared to a 8.6% growth forecast for the Electronic industry in Taiwan. Upcoming Dividend • Aug 12
Upcoming dividend of NT$6.96 per share Eligible shareholders must have bought the stock before 19 August 2022. Payment date: 16 September 2022. Payout ratio is a comfortable 64% but the company is paying out more than the cash it is generating. Trailing yield: 2.5%. Lower than top quartile of Taiwanese dividend payers (6.6%). Lower than average of industry peers (4.5%). Announcement • Aug 05
SINBON Electronics Co., Ltd. Announces Adjustment of Cash Dividend Payout SINBON Electronics Co., Ltd. announced adjustment of cash dividend payout from Cash dividends TWD 7 per share, equals to total amount TWD 1,640,858,100 to Cash dividends TWD 6.95831921 per share, equals to total amountTWD 1,640,858,100 due to Convertible bonds VII cause the total outstanding common shares changed. Announcement • Jun 02
SINBON Electronics Co., Ltd. Provides Revenue Guidance for the Third Quarter of 2022 SINBON Electronics Co., Ltd. stated that as China loosens its lockdown, the revenue of the third quarter is expected to be better than the second quarter. The goal is to reach 2-digit increase in this year. Reported Earnings • Apr 27
First quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2022 results: EPS: NT$2.90 (up from NT$2.52 in 1Q 2021). Revenue: NT$6.96b (up 16% from 1Q 2021). Net income: NT$680.4m (up 16% from 1Q 2021). Profit margin: 9.8% (in line with 1Q 2021). Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 16%, compared to a 10% growth forecast for the industry in Taiwan. 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 32% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 9 non-independent directors. Independent Director Hsin-Chih Yeh was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Buying Opportunity • Apr 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 9.2%. The fair value is estimated to be NT$319, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 33% in 2 years. Earnings is forecast to grow by 44% in the next 2 years. Buying Opportunity • Mar 15
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be NT$311, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% per annum over the last 3 years. Earnings per share has grown by 17% per annum over the last 3 years. Reported Earnings • Mar 14
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: NT$10.00 (up from NT$9.08 in FY 2020). Revenue: NT$25.5b (up 17% from FY 2020). Net income: NT$2.33b (up 10% from FY 2020). Profit margin: 9.1% (in line with FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.8%. Over the next year, revenue is forecast to grow 15%, compared to a 8.8% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Dec 14
Price target increased to NT$281 Up from NT$262, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of NT$272. Stock is up 31% over the past year. The company is forecast to post earnings per share of NT$10.39 for next year compared to NT$9.08 last year. Upcoming Dividend • Aug 13
Upcoming dividend of NT$6.29 per share Eligible shareholders must have bought the stock before 20 August 2021. Payment date: 17 September 2021. Trailing yield: 2.8%. Lower than top quartile of Taiwanese dividend payers (5.1%). In line with average of industry peers (3.1%). Reported Earnings • Jul 27
Second quarter 2021 earnings released: EPS NT$2.73 (vs NT$2.52 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: NT$6.39b (up 21% from 2Q 2020). Net income: NT$637.1m (up 8.5% from 2Q 2020). Profit margin: 10.0% (down from 11% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Executive Departure • Jul 15
Independent Director & Supervisor Chi-Lin Wei has left the company On the 9th of July, Chi-Lin Wei's tenure as Independent Director & Supervisor ended. We don't have any record of a personal shareholding under Chi-Lin's name. Chi-Lin is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 6.83 years. Price Target Changed • Jun 24
Price target increased to NT$294 Up from NT$275, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of NT$282. Stock is up 85% over the past year. Reported Earnings • May 05
First quarter 2021 earnings released: EPS NT$2.52 (vs NT$1.93 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: NT$5.99b (up 34% from 1Q 2020). Net income: NT$586.0m (up 31% from 1Q 2020). Profit margin: 9.8% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 23
Full year 2020 earnings released: EPS NT$9.08 (vs NT$7.47 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$21.8b (up 22% from FY 2019). Net income: NT$2.11b (up 23% from FY 2019). Profit margin: 9.7% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Mar 23
Price target increased to NT$270 Up from NT$249, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of NT$268. Stock is up 148% over the past year. Announcement • Mar 20
SINBON Electronics Co., Ltd., Annual General Meeting, Jun 11, 2021 SINBON Electronics Co., Ltd., Annual General Meeting, Jun 11, 2021. Is New 90 Day High Low • Feb 03
New 90-day high: NT$284 The company is up 44% from its price of NT$198 on 05 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$157 per share. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improved over the past week After last week's 18% share price gain to NT$255, the stock is trading at a trailing P/E ratio of 30.4x, up from the previous P/E ratio of 25.8x. This compares to an average P/E of 18x in the Electronic industry in Taiwan. Total returns to shareholders over the past three years are 246%. Price Target Changed • Jan 07
Price target raised to NT$240 Up from NT$222, the current price target is an average from 8 analysts. The new target price is close to the current share price of NT$232. As of last close, the stock is up 79% over the past year. Is New 90 Day High Low • Jan 05
New 90-day high: NT$220 The company is up 24% from its price of NT$178 on 07 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 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$202 per share. Is New 90 Day High Low • Dec 16
New 90-day high: NT$213 The company is up 14% from its price of NT$187 on 17 September 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$204 per share.