Reported Earnings • May 05
First quarter 2026 earnings released: EPS: NT$0.098 (vs NT$0.20 loss in 1Q 2025) First quarter 2026 results: EPS: NT$0.098 (up from NT$0.20 loss in 1Q 2025). Revenue: NT$5.31b (up 18% from 1Q 2025). Net income: NT$53.2m (up NT$159.2m from 1Q 2025). Profit margin: 1.0% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Revenue is forecast to grow 8.0% p.a. on average during the next 2 years, compared to a 30% growth forecast for the Communications industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance. New Risk • Mar 04
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 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 134% Earnings have declined by 32% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.1% average weekly change). Announcement • Feb 26
Alpha Networks Inc., Annual General Meeting, May 26, 2026 Alpha Networks Inc., Annual General Meeting, May 26, 2026. Location: 2 floor no,1, kung yeh tung 2nd rd., hsinchu science park, hsinchu city Taiwan Reported Earnings • Feb 26
Full year 2025 earnings released: NT$0.36 loss per share (vs NT$0.40 profit in FY 2024) Full year 2025 results: NT$0.36 loss per share (down from NT$0.40 profit in FY 2024). Revenue: NT$22.5b (up 4.7% from FY 2024). Net loss: NT$193.9m (down 189% from profit in FY 2024). Revenue is forecast to grow 8.6% p.a. on average during the next 2 years, compared to a 32% growth forecast for the Communications industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. New Risk • Nov 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 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 24% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.8% average weekly change). Reported Earnings • Nov 01
Third quarter 2025 earnings released: EPS: NT$0.02 (vs NT$0.052 loss in 3Q 2024) Third quarter 2025 results: EPS: NT$0.02 (up from NT$0.052 loss in 3Q 2024). Revenue: NT$5.84b (up 18% from 3Q 2024). Net income: NT$10.1m (up NT$38.2m from 3Q 2024). Profit margin: 0.2% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 25% growth forecast for the Communications industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Aug 21
Now 20% overvalued The stock has been flat over the last 90 days, currently trading at NT$27.40. The fair value is estimated to be NT$22.80, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 17% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Aug 04
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 8.2% to NT$27.60. The fair value is estimated to be NT$22.94, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 17% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Aug 02
Second quarter 2025 earnings released: NT$0.19 loss per share (vs NT$0.48 profit in 2Q 2024) Second quarter 2025 results: NT$0.19 loss per share (down from NT$0.48 profit in 2Q 2024). Revenue: NT$5.69b (flat on 2Q 2024). Net loss: NT$104.7m (down 140% from profit in 2Q 2024). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Communications industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Price Target Changed • Jul 08
Price target decreased by 10% to NT$31.00 Down from NT$34.50, the current price target is an average from 2 analysts. New target price is 11% above last closing price of NT$27.85. Stock is down 21% over the past year. The company posted earnings per share of NT$0.40 last year. Declared Dividend • Jul 04
Dividend reduced to NT$1.00 Dividend of NT$1.00 is 1.0% lower than last year. Ex-date: 17th July 2025 Payment date: 13th August 2025 Dividend yield will be 3.4%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 11x earnings). However, it is well covered by cash flows (43% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 1,206% to bring the payout ratio under control. However, EPS has declined by 16% over the last 5 years so the company would need to reverse this trend. New Risk • May 04
New major risk - Revenue and earnings growth Earnings have declined by 1.1% 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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.1% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (248% payout ratio). Profit margins are more than 30% lower than last year (0.2% net profit margin). Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. Director Joe Huang was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Apr 25
Alpha Networks Inc. to Report Q1, 2025 Results on May 02, 2025 Alpha Networks Inc. announced that they will report Q1, 2025 results on May 02, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$24.85, the stock trades at a trailing P/E ratio of 61.6x. Average forward P/E is 14x in the Communications industry in Taiwan. Total loss to shareholders of 8.1% over the past three years. Announcement • Mar 04
Alpha Networks Inc., Annual General Meeting, May 27, 2025 Alpha Networks Inc., Annual General Meeting, May 27, 2025, at 09:00 Taipei Standard Time. Location: 2 floor no,1, kung yeh tung 2nd rd., hsinchu science park, hsinchu city Taiwan 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 Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Nov 15
Alpha Networks Inc. (TWSE:3380) acquired 27.94% stake in FiberLogic Communications, Inc. from Tai Tung Communication Co., Ltd. (TWSE:8011) for approximately NTD 450 million. Alpha Networks Inc. (TWSE:3380) acquired 27.94% stake in FiberLogic Communications, Inc. from Tai Tung Communication Co., Ltd. (TWSE:8011) for approximately NTD 450 million on November 14, 2024. Under the terms of the transaction, Tai Tung Communication Co., Ltd. (TWSE:8011) will divest 6.2 million shares valued at NTD 71.8 per share.
Yuh Chia & Co. and Deng Zhi Ping Accountant served as the accountants for Tai Tung Communication Co., Ltd. (TWSE:8011) in its divestment.
Alpha Networks Inc. (TWSE:3380) completed the acquisition of 27.94% stake in FiberLogic Communications, Inc. from Tai Tung Communication Co., Ltd. (TWSE:8011) for approximately NTD 450 million on November 14, 2024. Reported Earnings • Nov 05
Third quarter 2024 earnings released: NT$0.05 loss per share (vs NT$0.15 profit in 3Q 2023) Third quarter 2024 results: NT$0.05 loss per share (down from NT$0.15 profit in 3Q 2023). Revenue: NT$4.95b (down 16% from 3Q 2023). Net loss: NT$28.0m (down 134% from profit in 3Q 2023). Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Communications industry in Taiwan. 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 8% per year, which means it is well ahead of earnings. Announcement • Oct 25
Alpha Networks Inc. to Report Q3, 2024 Results on Nov 01, 2024 Alpha Networks Inc. announced that they will report Q3, 2024 results on Nov 01, 2024 New Risk • Aug 26
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 189% 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 Dividend is not well covered by earnings (118% payout ratio). Large one-off items impacting financial results. Buy Or Sell Opportunity • Aug 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to NT$28.85. The fair value is estimated to be NT$36.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.3% over the last 3 years, while earnings per share has been flat. Announcement • Jul 19
Alpha Networks Inc. to Report Q2, 2024 Results on Jul 26, 2024 Alpha Networks Inc. announced that they will report Q2, 2024 results on Jul 26, 2024 Declared Dividend • Jun 29
Dividend reduced to NT$1.01 Dividend of NT$1.01 is 40% lower than last year. Ex-date: 12th July 2024 Payment date: 9th August 2024 Dividend yield will be 2.9%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is not covered by earnings (124% earnings payout ratio). However, it is well covered by cash flows (30% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 38% to bring the payout ratio under control, which is more than the 25% EPS growth achieved over the last 5 years. Announcement • Jun 28
Alpha Networks Inc. Approves Cash Dividend, Payable on August 9, 2024 On June 27, 2024, the board of directors of Alpha Networks Inc. approved Ex- Dividend, Cash dividend of TWD 547,135,645 equivalent to TWD 1.01 per share. payable on August 9, 2024. The Ex- dividend date is July 12, 2024. Ex-rights (Ex-dividend) record date is July 20, 2024. Reported Earnings • May 07
First quarter 2024 earnings released: EPS: NT$0.12 (vs NT$0.32 in 1Q 2023) First quarter 2024 results: EPS: NT$0.12 (down from NT$0.32 in 1Q 2023). Revenue: NT$5.18b (down 34% from 1Q 2023). Net income: NT$66.5m (down 62% from 1Q 2023). Profit margin: 1.3% (down from 2.2% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Communications industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 5% per year. Announcement • Apr 28
Alpha Networks Inc. to Report Q1, 2024 Results on May 03, 2024 Alpha Networks Inc. announced that they will report Q1, 2024 results on May 03, 2024 Reported Earnings • Mar 03
Full year 2023 earnings released: EPS: NT$1.01 (vs NT$1.69 in FY 2022) Full year 2023 results: EPS: NT$1.01 (down from NT$1.69 in FY 2022). Revenue: NT$28.3b (down 16% from FY 2022). Net income: NT$547.9m (down 40% from FY 2022). Profit margin: 1.9% (down from 2.7% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.2% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Communications industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Feb 28
Alpha Networks Inc., Annual General Meeting, May 31, 2024 Alpha Networks Inc., Annual General Meeting, May 31, 2024. Location: Darwin Hall of HSP Link 2F, No. 1, Industry E. 2nd Rd. Science-Based Industrial Park Hsinchu Taiwan Agenda: To consider 2023 business report; to consider the Audit Committee's review report on the 2023 financial statements; to the report of the distribution of the employees' compensation and directors' remuneration of 2023; to consider the report of the distribution of cash dividends from 2023 earnings; to consider Cause for convening the meeting; and to discuss other matters. Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: NT$0.15 (vs NT$0.58 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.15 (down from NT$0.58 in 3Q 2022). Revenue: NT$5.86b (down 37% from 3Q 2022). Net income: NT$83.4m (down 74% from 3Q 2022). Profit margin: 1.4% (down from 3.4% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.7% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Communications industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 29
Second quarter 2023 earnings released: EPS: NT$0.44 (vs NT$0.45 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.44 (down from NT$0.45 in 2Q 2022). Revenue: NT$7.75b (down 6.5% from 2Q 2022). Net income: NT$238.9m (down 1.7% from 2Q 2022). Profit margin: 3.1% (up from 2.9% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.3% p.a. on average during the next 2 years, compared to a 8.1% growth forecast for the Communications industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. New Risk • Jul 15
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 Dividend is not well covered by earnings (96% payout ratio). Share price has been volatile over the past 3 months (6.4% average weekly change). Upcoming Dividend • Jul 10
Upcoming dividend of NT$1.69 per share at 3.9% yield Eligible shareholders must have bought the stock before 17 July 2023. Payment date: 11 August 2023. Payout ratio is on the higher end at 96%, however this is supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.0%). Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$43.80, the stock trades at a trailing P/E ratio of 24.8x. Average forward P/E is 19x in the Communications industry in Taiwan. Total returns to shareholders of 72% over the past three years. Announcement • Jun 30
Alpha Networks Inc. Approves Cash Dividend for the Year 2022, Payable on August 11, 2023 Alpha Networks Inc. announced at shareholders meeting held on June 29, 2023, the shareholders approved the cash dividend from 2022 earnings is TWD 915,504,197 equivalent to TWD 1.69 per share. Ex-rights (ex-dividend) trading date is July 17, 2023. Ex-rights (ex-dividend) record date is July 23, 2023. Payment date of cash dividend distribution is August 11, 2023. Announcement • Jun 01
Alpha Networks Inc. Appoints Julian Chen as Member of Audit Committee and Remuneration Committee Alpha Networks Inc. appointed Julian Chen as Member of Audit committee and Remuneration committee. Resume: Chairperson of Ray Wing Research & Investment Corp. Effective date of the new member: May 31, 2023. Buying Opportunity • Apr 21
Now 25% undervalued Over the last 90 days, the stock is up 20%. The fair value is estimated to be NT$47.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 36%. Reported Earnings • Mar 01
Full year 2022 earnings released: EPS: NT$1.69 (vs NT$0.80 in FY 2021) Full year 2022 results: EPS: NT$1.69 (up from NT$0.80 in FY 2021). Revenue: NT$33.6b (up 21% from FY 2021). Net income: NT$917.1m (up 111% from FY 2021). Profit margin: 2.7% (up from 1.6% 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 36% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
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, 3 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Shu-Hsing Li 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. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: NT$0.58 (vs NT$0.21 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.58 (up from NT$0.21 in 3Q 2021). Revenue: NT$9.23b (up 38% from 3Q 2021). Net income: NT$315.3m (up 182% from 3Q 2021). Profit margin: 3.4% (up from 1.7% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Communications industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$27.25, the stock trades at a trailing P/E ratio of 25.4x. Average forward P/E is 11x in the Communications industry in Taiwan. Total returns to shareholders of 25% over the past three years. Reported Earnings • Aug 03
Second quarter 2022 earnings released: EPS: NT$0.45 (vs NT$0.21 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.45 (up from NT$0.21 in 2Q 2021). Revenue: NT$8.29b (up 9.7% from 2Q 2021). Net income: NT$243.0m (up 109% from 2Q 2021). Profit margin: 2.9% (up from 1.5% 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 33% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 11
Upcoming dividend of NT$0.80 per share Eligible shareholders must have bought the stock before 18 July 2022. Payment date: 12 August 2022. Payout ratio is on the higher end at 95% but the company is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (3.2%). Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improved over the past week After last week's 24% share price gain to NT$29.60, the stock trades at a trailing P/E ratio of 35.3x. Average forward P/E is 12x in the Communications industry in Taiwan. Total returns to shareholders of 62% over the past three years. Board Change • May 06
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 5 experienced directors. No highly experienced directors. Vice Chairman Peter Chen is the most experienced director on the board, commencing their role in 2018. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • May 04
Alpha Networks Inc. Announces Executive Changes Alpha Networks Inc. announced appointment of Wen-Fang Huang as CEO. Name of the previous position holder: Yu-Chin Lin. Resume of the previous position holder: President of the Alpha Networks Inc. Name of the new position holder: Wen-Fang Huang. Resume of the new position holder: CEO. Effective date of the new appointment: May 3, 2022. Reported Earnings • May 02
First quarter 2022 earnings released: EPS: NT$0.25 (vs NT$0.21 in 1Q 2021) First quarter 2022 results: EPS: NT$0.25 (up from NT$0.21 in 1Q 2021). Revenue: NT$6.87b (down 4.4% from 1Q 2021). Net income: NT$133.8m (up 18% from 1Q 2021). Profit margin: 1.9% (up from 1.6% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target increased to NT$25.00 Up from NT$21.53, the current price target is provided by 1 analyst. New target price is 12% below last closing price of NT$28.30. Stock is down 16% over the past year. The company posted earnings per share of NT$0.80 last year. Reported Earnings • Mar 06
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$0.80 (down from NT$1.03 in FY 2020). Revenue: NT$27.9b (down 13% from FY 2020). Net income: NT$433.9m (down 22% from FY 2020). Profit margin: 1.6% (down from 1.7% in FY 2020). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 20%, compared to a 13% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Mar 06
Alpha Networks Inc., Annual General Meeting, May 31, 2022 Alpha Networks Inc., Annual General Meeting, May 31, 2022. Location: Bach Hall of HSP Link. 4F, No. 1, Industry E. 2nd Rd. Science-Based Industrial Park Hsinchu Taiwan Agenda: To consider 2021 Business Report; to consider the Audit Committee's Review Report on the 2021 Financial Statements; to consider the Report of the Distribution of the Employees' Compensation and Directors' Remuneration of 2021; to consider the Report of the Appropriation of Cash Dividends from 2021 Earnings; to consider the Report of the Cash Distribution of Capital Surplus; and to consider other matters. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS NT$0.21 (vs NT$0.45 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$6.71b (down 31% from 3Q 2020). Net income: NT$111.8m (down 53% from 3Q 2020). Profit margin: 1.7% (down from 2.5% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 20
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 27 August 2021. Payment date: 24 September 2021. Trailing yield: 4.0%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.3%). Reported Earnings • Aug 12
Second quarter 2021 earnings released: EPS NT$0.21 (vs NT$0.39 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$7.56b (down 2.2% from 2Q 2020). Net income: NT$116.2m (down 45% from 2Q 2020). Profit margin: 1.5% (down from 2.7% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 08
First quarter 2021 earnings released: EPS NT$0.21 (vs NT$0.24 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$7.19b (up 44% from 1Q 2020). Net income: NT$113.2m (up NT$242.5m from 1Q 2020). Profit margin: 1.6% (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 increased by 70% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 06
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$29.20, the stock trades at a trailing P/E ratio of 28.3x. Average forward P/E is 12x in the Communications industry in Taiwan. Total returns to shareholders of 66% over the past three years. Executive Departure • Mar 23
Chief Executive Officer John Lee has left the company On the 19th of March, John Lee's tenure as Chief Executive Officer of the company ended. We don't have any record of a personal shareholding under John's name. John is the only executive to leave the company over the last 12 months. Announcement • Mar 21
Alpha Networks Inc. Appoints Wen-Fang (April) Huang as Chief Executive Officer Alpha Networks Inc. appoints Wen-Fang (April) Huang, Chairman of the company as Chief Executive Officer to expand the global business and innovative areas, effective March 19, 2021. Reported Earnings • Mar 20
Full year 2020 earnings released: EPS NT$1.03 (vs NT$0.44 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$32.2b (up 103% from FY 2019). Net income: NT$557.0m (up 133% from FY 2019). Profit margin: 1.7% (up from 1.5% in FY 2019). 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 whereas the company’s share price has increased by 15% per year. Announcement • Mar 06
Alpha Networks Inc., Annual General Meeting, Mar 22, 2021 Alpha Networks Inc., Annual General Meeting, Mar 22, 2021, at 14:30 Taipei Standard Time. Location: B2F No.108, Sec. 1, Dunhua S. Rd.,Songshan Dist. Taipei City Taiwan Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 25% share price gain to NT$38.90, the stock is trading at a trailing P/E ratio of 54.1x, up from the previous P/E ratio of 43.3x. This compares to an average P/E of 24x in the Communications industry in Taiwan. Total returns to shareholders over the past three years are 69%. Is New 90 Day High Low • Jan 05
New 90-day high: NT$35.40 The company is up 29% from its price of NT$27.45 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 Communications industry, which is up 24% over the same period. Is New 90 Day High Low • Nov 28
New 90-day high: NT$29.60 The company is up 5.0% from its price of NT$28.15 on 28 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Communications industry, which is up 6.0% over the same period. Reported Earnings • Nov 10
Third quarter 2020 earnings released: EPS NT$0.44 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$9.67b (up 143% from 3Q 2019). Net income: NT$240.1m (up 174% from 3Q 2019). Profit margin: 2.5% (up from 2.2% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.