Reported Earnings • May 14
First quarter 2026 earnings released: NT$0.91 loss per share (vs NT$0.77 loss in 1Q 2025) First quarter 2026 results: NT$0.91 loss per share (further deteriorated from NT$0.77 loss in 1Q 2025). Revenue: NT$2.22b (up 8.1% from 1Q 2025). Net loss: NT$78.4m (loss widened 18% from 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 13
Full year 2025 earnings released: NT$2.44 loss per share (vs NT$1.48 profit in FY 2024) Full year 2025 results: NT$2.44 loss per share (down from NT$1.48 profit in FY 2024). Revenue: NT$9.09b (up 12% from FY 2024). Net loss: NT$210.6m (down 265% from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. Announcement • Mar 12
Nidec Chaun-Choung Technology Corporation, Annual General Meeting, Jun 24, 2026 Nidec Chaun-Choung Technology Corporation, Annual General Meeting, Jun 24, 2026. Location: no,67, sec.1 kuang fu rd., sanchong district, new taipei city Taiwan New Risk • Feb 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 26% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.0% average weekly change). Reported Earnings • Nov 12
Third quarter 2025 earnings released: NT$2.10 loss per share (vs NT$0.37 loss in 3Q 2024) Third quarter 2025 results: NT$2.10 loss per share (further deteriorated from NT$0.37 loss in 3Q 2024). Revenue: NT$2.32b (up 8.1% from 3Q 2024). Net loss: NT$181.0m (loss widened 470% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 13
Second quarter 2025 earnings released: EPS: NT$1.57 (vs NT$0.28 in 2Q 2024) Second quarter 2025 results: EPS: NT$1.57 (up from NT$0.28 in 2Q 2024). Revenue: NT$2.24b (up 10% from 2Q 2024). Net income: NT$135.7m (up 463% from 2Q 2024). Profit margin: 6.1% (up from 1.2% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Aug 13
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 1.4% to NT$143. The fair value is estimated to be NT$117, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Earnings per share has declined by 37%. Declared Dividend • Aug 09
Dividend reduced to NT$0.22 Dividend of NT$0.22 is 79% lower than last year. Ex-date: 22nd August 2025 Payment date: 15th September 2025 Dividend yield will be 0.2%, which is lower than the industry average of 4.0%. Payout Ratios Payout ratio: 128%. Cash payout ratio: 3%. New Risk • Jun 12
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 17% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Reported Earnings • May 14
First quarter 2025 earnings released: NT$0.77 loss per share (vs NT$0.53 profit in 1Q 2024) First quarter 2025 results: NT$0.77 loss per share (down from NT$0.53 profit in 1Q 2024). Revenue: NT$2.06b (up 16% from 1Q 2024). Net loss: NT$66.7m (down 245% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • May 01
Nidec Chaun-Choung Technology Corporation to Report Q1, 2025 Results on May 07, 2025 Nidec Chaun-Choung Technology Corporation announced that they will report Q1, 2025 results on May 07, 2025 Announcement • Apr 18
Nidec Chaun-Choung Technology Corporation Announces Retirement of Cheng, Hung-Lin as Chief Sales Officer, Effective on April 18, 2025 Nidec Chaun-Choung Technology Corporation announced retirement of Cheng, Hung-Lin as Chief Sales Officer, effective on April 18, 2025. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to NT$113, the stock trades at a trailing P/E ratio of 76.5x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 17% over the past three years. New Risk • Mar 31
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 7.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.8% average weekly change). Earnings have declined by 13% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.6% net profit margin). New Risk • Mar 26
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 28% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 13% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.6% net profit margin). Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$1.48 (vs NT$7.02 in FY 2023) Full year 2024 results: EPS: NT$1.48 (down from NT$7.02 in FY 2023). Revenue: NT$8.12b (down 25% from FY 2023). Net income: NT$127.5m (down 79% from FY 2023). Profit margin: 1.6% (down from 5.6% in FY 2023). The decrease in margin was driven by lower 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 13% per year, which means it is well ahead of earnings. Announcement • Mar 13
Nidec Chaun-Choung Technology Corporation, Annual General Meeting, Jun 20, 2025 Nidec Chaun-Choung Technology Corporation, Annual General Meeting, Jun 20, 2025. Location: no,67, sec.1 kuang fu rd., sanchong district, new taipei city Taiwan New Risk • Feb 03
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 6.3% 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 10% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.2% net profit margin). New Risk • Dec 20
New major risk - Revenue and earnings growth Earnings have declined by 10% 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 10% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.2% net profit margin). New Risk • Nov 29
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.2% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.2% net profit margin). Reported Earnings • Nov 15
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: NT$0.37 loss per share (down from NT$2.16 profit in 3Q 2023). Revenue: NT$2.14b (down 25% from 3Q 2023). Net loss: NT$31.8m (down 117% from profit in 3Q 2023). Revenue missed analyst estimates by 4.6%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 18% 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 4% per year whereas the company’s share price has increased by 8% per year. New Risk • Nov 14
New major risk - Revenue and earnings growth Earnings have declined by 6.5% 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 6.5% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Profit margins are more than 30% lower than last year (3.6% net profit margin). Announcement • Nov 02
Nidec Chaun-Choung Technology Corporation to Report Q3, 2024 Results on Nov 11, 2024 Nidec Chaun-Choung Technology Corporation announced that they will report Q3, 2024 results on Nov 11, 2024 Announcement • Oct 03
Nidec Chaun-Choung Technology Corporation Announces CEO Changes Nidec Chaun-Choung Technology Corporation announced Junichi NAGAI, Chairman and concurrent CEO of the company, resigned for corporate inheritance and sustainable operation, but still serves as a director and appoints Akihiro Miyoshi, Vice Chairman as CEO . Effective Date: 1 October 2024. Announcement • Oct 02
Nidec Chaun-Choung Technology Corporation Announces Changes Chairman and Vice Chairman Nidec Chaun-Choung Technology Corporation announced Changes Chairman and Vice Chairman. Name of the previous position holder: Junichi NAGAI; Resume of the previous position holder: Chairman and concurrent CEO of Nidec CCI Corporation;Name of the new position holder: Akihiro Miyoshi; Resume of the new position holder: Vice Chairman of Nidec CCI Corporation; Reason for the change: The company's board of directors elect a new chairman and will not elect new vice chairman currently; Effective date of the new appointment: October 1, 2024. Mr. Junichi Nagai,the chairman of the company, resigned for corporate inheritance and sustainable operation, but still serves as a director. In the mean time,the board of directors recommended Vice Chairman Akihiro Miyoshi as the new chairman of the company, and will not elect new vice chairman currently. Reported Earnings • Aug 13
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: EPS: NT$0.28 (down from NT$3.01 in 2Q 2023). Revenue: NT$2.03b (down 26% from 2Q 2023). Net income: NT$24.1m (down 91% from 2Q 2023). Profit margin: 1.2% (down from 9.4% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 28%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 7% per year. Declared Dividend • Aug 09
Dividend reduced to NT$1.05 Dividend of NT$1.05 is 1.6% lower than last year. Ex-date: 22nd August 2024 Payment date: 13th September 2024 Dividend yield will be 0.5%, which is lower than the industry average of 4.0%. Payout Ratios Payout ratio: 16%. Cash payout ratio: 14%. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$212, the stock trades at a forward P/E ratio of 55x. Average forward P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 6.6% over the past three years. Announcement • Jun 25
Nidec Chaun-Choung Technology Corporation Approves Cash Dividend for 2023 Nidec Chaun-Choung Technology Corporation at its annual regular stockholders' meeting held on June 24, 2024, approved earnings distribution of 2023 and TWD 1.053 per share of cash dividends. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$367, the stock trades at a forward P/E ratio of 95x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 74% over the past three years. Reported Earnings • May 18
First quarter 2024 earnings: EPS exceeds analyst expectations First quarter 2024 results: EPS: NT$0.53 (down from NT$1.14 in 1Q 2023). Revenue: NT$1.77b (down 40% from 1Q 2023). Net income: NT$45.9m (down 53% from 1Q 2023). Profit margin: 2.6% (down from 3.4% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 77%. Revenue is forecast to grow 4.0% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Apr 27
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.7% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings are forecast to decline by an average of 5.7% per year for the foreseeable future. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$226, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 9.9% over the past three years. Reported Earnings • Mar 15
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: NT$7.02 (down from NT$7.10 in FY 2022). Revenue: NT$10.8b (down 9.6% from FY 2022). Net income: NT$605.8m (down 1.2% from FY 2022). Profit margin: 5.6% (up from 5.2% in FY 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 6.0%. Revenue is forecast to grow 3.4% 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 2% per year whereas the company’s share price has fallen by 1% per year. Announcement • Mar 13
Nidec Chaun-Choung Technology Corporation, Annual General Meeting, Jun 24, 2024 Nidec Chaun-Choung Technology Corporation, Annual General Meeting, Jun 24, 2024. Location: No. 67, Sec. 1, Guangfu Rd., Sanchong Dist New Taipei City Taiwan Agenda: To consider and approve the 2023 Business Report; to consider and approve the 2023 Review Report of Audit Committee; to consider and approve the distribution of 2023 employees' and directors as well as supervisors' compensation; and to consider other matters of business. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$182, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total loss to shareholders of 13% over the past three years. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$150, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total loss to shareholders of 27% over the past three years. Reported Earnings • Nov 14
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: EPS: NT$2.16 (down from NT$2.70 in 3Q 2022). Revenue: NT$2.85b (down 11% from 3Q 2022). Net income: NT$186.4m (down 20% from 3Q 2022). Profit margin: 6.5% (down from 7.3% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 10%. Earnings per share (EPS) exceeded analyst estimates by 39%. Revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 9.2% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Upcoming Dividend • Aug 17
Upcoming dividend of NT$1.07 per share at 0.7% yield Eligible shareholders must have bought the stock before 24 August 2023. Payment date: 15 September 2023. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Taiwanese dividend payers (5.7%). Lower than average of industry peers (4.2%). Reported Earnings • Aug 14
Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2023 results: EPS: NT$3.01 (up from NT$1.83 in 2Q 2022). Revenue: NT$2.75b (down 3.2% from 2Q 2022). Net income: NT$259.9m (up 65% from 2Q 2022). Profit margin: 9.4% (up from 5.5% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 10%. Earnings per share (EPS) exceeded analyst estimates by 108%. Revenue is forecast to grow 6.4% p.a. on average during the next 2 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 fallen by 7% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$179, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total loss to shareholders of 28% over the past three years. Announcement • Jun 21
Nidec Chaun-Choung Technology Corporation Approves Cash Dividend Nidec Chaun-Choung Technology Corporation announced that at the shareholders meeting held on June 20, 2023, the company approved the cash dividend of TWD 1.07 per share. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$182, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 14x in the Electronic industry in Taiwan. Total loss to shareholders of 25% over the past three years. Reported Earnings • Apr 01
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: NT$7.10 (up from NT$4.05 in FY 2021). Revenue: NT$11.9b (up 8.0% from FY 2021). Net income: NT$613.2m (up 75% from FY 2021). Profit margin: 5.2% (up from 3.2% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.6%. Revenue is forecast to grow 6.6% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment improved over the past week After last week's 16% share price gain to NT$130, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 10x in the Electronic industry in Taiwan. Total loss to shareholders of 38% over the past three years. Price Target Changed • Nov 16
Price target decreased to NT$130 Down from NT$154, the current price target is provided by 1 analyst. New target price is 19% above last closing price of NT$110. Stock is down 36% over the past year. The company is forecast to post earnings per share of NT$6.54 for next year compared to NT$4.05 last year. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$2.70 (vs NT$1.06 in 3Q 2021) Third quarter 2022 results: EPS: NT$2.70 (up from NT$1.06 in 3Q 2021). Revenue: NT$3.19b (up 12% from 3Q 2021). Net income: NT$233.1m (up 154% from 3Q 2021). Profit margin: 7.3% (up from 3.2% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Announcement • Oct 16
Nidec Chaun-Choung Technology Corporation Announces Executive Changes, Effective October 16, 2022 Nidec Chaun-Choung Technology Corporation announced that Mr. Mase Yasuhiro resigns from the position of CFO of the company due to personal career planning. Name, title, and resume of the new position holder: Mr. Matsuda Yoshihiro, CFO of SPMS of Nidec Corporation. Effective date is October 16, 2022. Price Target Changed • Oct 13
Price target decreased to NT$115 Down from NT$154, the current price target is provided by 1 analyst. New target price is 15% above last closing price of NT$99.70. Stock is down 37% over the past year. The company is forecast to post earnings per share of NT$4.47 for next year compared to NT$4.05 last year. Upcoming Dividend • Aug 18
Upcoming dividend of NT$0.61 per share Eligible shareholders must have bought the stock before 25 August 2022. Payment date: 15 September 2022. Payout ratio is a comfortable 46% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of Taiwanese dividend payers (6.4%). Lower than average of industry peers (4.4%). Reported Earnings • Aug 13
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: NT$1.83 (up from NT$0.65 in 2Q 2021). Revenue: NT$2.84b (up 22% from 2Q 2021). Net income: NT$157.7m (up 180% from 2Q 2021). Profit margin: 5.5% (up from 2.4% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 8.8%. Earnings per share (EPS) also surpassed analyst estimates by 233%. Over the next year, revenue is expected to shrink by 2.4% compared to a 8.6% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 28% per year whereas the company’s share price has fallen by 24% per year. Announcement • Aug 11
Nidec Chaun-Choung Technology Corporation Resolves Cash Dividend, Payable on September 15, 2022 Nidec Chaun-Choung Technology Corporation announced that on August 10, 2022, Board of Directors resolved cash dividends of TWD 52,669,472; TWD 0.61 per share. Ex-rights (ex-dividend) trading date: August 25, 2022. Last date before book closure: August 26, 2022. Book closure starting date: August 27, 2022. Book closure ending date: August 31, 2022. Ex-rights (ex-dividend) record date: August 31, 2022. The cash dividend payment date is expected on September 15, 2022. Announcement • Jun 23
Nidec Chaun-Choung Technology Corporation Announces Board Changes Nidec Chaun-Choung Technology Corporation announced that title and name of the previous position holder: Directors of Juridical Person: Representative of Nidec Corporation: Junichi NAGAI; Representative of Nidec Corporation: Yasuhiro MASE; Representative of Nidec Corporation: Eiji MIYAMOTO; Representative of Nidec Corporation: Kenji ITO; Representative of Nidec Corporation: Hidetoshi MATSUHASHI. Independent Directors: Ya-Ping CHIANG: Independent Director of Nidec CCI Corporation; William HSU: Independent Director of Nidec CCI Corporation. Title and name of the new position holder: Directors of Juridical Person: Representative of Nidec Corporation: Junichi NAGAI; Representative of Nidec Corporation: Yasuhiro MASE; Representative of Nidec Corporation: Masahiro HISHIDA; Representative of Nidec Corporation: Eiji MIYAMOTO;Representative of Nidec Corporation: Hidetoshi MATSUHASHI; Representative of Nidec Corporation: Yoshihiro MATSUDA; Representative of Nidec Corporation: Hiroki HAYASHI; Representative of Nidec Corporation: Akio TATSUMI; Representative of Nidec Corporation: Shinji TAKASAWA.Independent Directors: William HSU; Wen-Yeu WANG; Alex LIEN; Chien-Hung CHOU. Resume of the new position holder: Directors of Juridical Person: Representative of Nidec Corporation: Junichi NAGAI, Chairman and concurrent CEO of Nidec CCI Corporation; Representative of Nidec Corporation: Yasuhiro MASE, CFO of Nidec CCI Corporation; Representative of Nidec Corporation: Masahiro HISHIDA, Executive Director of Nidec Corporation; Representative of Nidec Corporation: Eiji MIYAMOTO, Executive Director of Nidec Corporation; Representative of Nidec Corporation: Hidetoshi MATSUHASHI, Chief Operation Manager of Small Precision Motor & Solutions Business Unit manager of Nidec Corporation; Representative of Nidec Corporation: Yoshihiro MATSUDA, CFO of GMS Operation, Small Precision Motor & Solutions Business Unit, Nidec Corporation; Representative of Nidec Corporation: Hiroki HAYASHI, Chairman of Nidec (Shanghai) International Trading Co. Representative of Nidec Corporation: Akio TATSUMI, Chairman of Nidec JCI Corporatiom. Representative of Nidec Corporation: Shinji TAKASAWA, Chief manager of President's Office of Fujitsu Co. Ltd. (FUJITSU GENERAL) Independent Directors: William HSU: Independent Director of Nidec CCI CorporationWen-Yeu WANG: Independent Director of Xintec Co. Ltd. Alex LIEN: Independent director of Trinity Precision Tech. Co.Ltd. Chien-Hung CHOU: Partner of TAXCPA. Announcement • Jun 22
Nidec Chaun-Choung Technology Corporation Announces Appointment of Members of Remuneration Committee Nidec Chaun-Choung Technology Corporation announced that Name of the functional committees: Remuneration committee. Name of the previous position holder: Ya-Ping Chiang, William HSU, Ching-Pei HUANG; Resume of the previous position holder: Ya-Ping Chiang, Independent Director and member of remuneration committee of the Company. William HSU, Independent Director and member of remuneration committee of the Company. Ching-Pei HUANG, Accountant of CSCPA, member of remuneration committee. Name of the new position holder: William HSU, Wen-Yeu WANG,Alex LIEN,Chien-Hung CHOU. Resume of the new position holder: William HSU, Independent Director and member of remuneration committee of the Company; Wen-Yeu WANG, Independent Director of the Company; Alex LIEN, Independent Director of the Company; Chien-Hung CHOU, Independent Director of the Company. Effective date of new member is June 20, 2022. Announcement • Apr 21
Nidec Jue-Choung Electronics Kunshan¡ Co., Ltd to Cooperate with Government Policy, Kunshan City Has Enters Quiet Period Nidec Chaun-Choung Technology Corporation announced that the subsidiary Nidec Jue-Choung Electronics Kunshan¡ Co. Ltd. to cooperate with government policy, Kunshan city has entered a quiet period, all people are not allowed to leave the village/community and go to work. Jue-choung's production line will be suspended until the policy allows it to start. JUE-CHOUNG will take contingency measures to ensure the safety and health of employees in accordance with local government regulations. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment deteriorated over the past week After last week's 20% share price decline to NT$99.40, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Electronic industry in Taiwan. Total loss to shareholders of 33% over the past three years. Major Estimate Revision • Apr 07
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from NT$6.77 to NT$5.18 per share. Revenue forecast steady at NT$10.9b. Net income forecast to grow 28% next year vs 14% growth forecast for Electronic industry in Taiwan. Consensus price target down from NT$179 to NT$161. Share price fell 10% to NT$112 over the past week. Reported Earnings • Mar 30
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: NT$4.05 (down from NT$9.06 in FY 2020). Revenue: NT$11.0b (up 21% from FY 2020). Net income: NT$349.7m (down 55% from FY 2020). Profit margin: 3.2% (down from 8.6% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.9%. Earnings per share (EPS) missed analyst estimates by 49%. Over the next year, revenue is expected to shrink by 2.2% compared to a 10% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Price Target Changed • Feb 23
Price target decreased to NT$186 Down from NT$202, the current price target is an average from 2 analysts. New target price is 21% above last closing price of NT$153. Stock is down 30% over the past year. The company is forecast to post earnings per share of NT$7.90 for next year compared to NT$9.06 last year. Price Target Changed • Nov 23
Price target decreased to NT$196 Down from NT$216, the current price target is an average from 3 analysts. New target price is 14% above last closing price of NT$173. Stock is down 28% over the past year. The company is forecast to post earnings per share of NT$5.43 for next year compared to NT$9.06 last year. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$1.06 (vs NT$2.74 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$2.85b (up 17% from 3Q 2020). Net income: NT$91.8m (down 61% from 3Q 2020). Profit margin: 3.2% (down from 9.7% in 3Q 2020). The decrease in margin was driven by higher expenses. 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 18% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 23
Upcoming dividend of NT$1.36 per share Eligible shareholders must have bought the stock before 30 August 2021. Payment date: 17 September 2021. Trailing yield: 0.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.3%). Major Estimate Revision • Aug 20
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate fell from NT$9.45 to NT$7.51 per share. Revenue forecast steady at NT$10.2b. Net income forecast to grow 2.1% next year vs 25% growth forecast for Electronic industry in Taiwan. Consensus price target down from NT$216 to NT$202. Share price fell 11% to NT$177 over the past week. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$0.65 (vs NT$2.63 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$2.33b (down 1.4% from 2Q 2020). Net income: NT$56.2m (down 75% from 2Q 2020). Profit margin: 2.4% (down from 9.6% in 2Q 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$1.92 (vs NT$1.05 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$2.47b (up 51% from 1Q 2020). Net income: NT$166.1m (up 84% from 1Q 2020). Profit margin: 6.7% (up from 5.5% in 1Q 2020). The increase in margin was driven by higher revenue. 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 38% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 02
Nidec Jue-Choung Electronics (Kunshan) Co., Ltd. Passes Resolution on Dividend for 2020 The Board of Directors of Nidec Jue-Choung Electronics (Kunshan) Co. Ltd. passed a resolution not to distribute dividend for 2020. Price Target Changed • Apr 25
Price target decreased to NT$250 Down from NT$272, the current price target is an average from 4 analysts. New target price is 11% above last closing price of NT$225. Stock is down 8.7% over the past year. Reported Earnings • Apr 01
Full year 2020 earnings released: EPS NT$9.06 (vs NT$8.13 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$9.12b (up 6.3% from FY 2019). Net income: NT$782.4m (up 12% from FY 2019). Profit margin: 8.6% (up from 8.2% 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 14% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Dec 10
New 90-day low: NT$228 The company is down 11% from its price of NT$255 on 11 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$79.61 per share. Analyst Estimate Surprise Post Earnings • Nov 15
Revenue beats expectations Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 11%, compared to a 11% growth forecast for the Electronic industry in Taiwan. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$2.74 The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: NT$2.44b (up 12% from 3Q 2019). Net income: NT$236.6m (up 11% from 3Q 2019). Profit margin: 9.7% (in line with 3Q 2019). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Oct 26
New 90-day low: NT$238 The company is down 5.0% from its price of NT$250 on 28 July 2020. The Taiwanese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$72.35 per share.