Board Change • Jul 03
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Yu-Fen Lin was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Jul 01
Upcoming dividend of NT$7.70 per share Eligible shareholders must have bought the stock before 08 July 2026. Payment date: 30 July 2026. Payout ratio is on the higher end at 90%, and the cash payout ratio is above 100%. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (3.7%). Reported Earnings • May 01
First quarter 2026 earnings: EPS misses analyst expectations First quarter 2026 results: EPS: NT$3.00. Revenue: NT$982.2m (up 3.1% from 1Q 2025). Net income: NT$286.8m (up 2.9% from 1Q 2025). Profit margin: 29% (in line with 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.1%. Reported Earnings • Mar 01
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: NT$15.75 (up from NT$13.83 in FY 2024). Revenue: NT$3.94b (up 4.0% from FY 2024). Net income: NT$1.23b (up 14% from FY 2024). Profit margin: 31% (up from 28% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.3%. 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 5% per year, which means it is significantly lagging earnings growth. Announcement • Feb 26
Chief Telecom Inc., Annual General Meeting, May 27, 2026 Chief Telecom Inc., Annual General Meeting, May 27, 2026. Location: no,28 ln.420, sec.5 ch`eng kung rd., neihu district, taipei city Taiwan Upcoming Dividend • Dec 24
Upcoming dividend of NT$6.60 per share Eligible shareholders must have bought the stock before 31 December 2025. Payment date: 30 January 2026. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (5.4%). In line with average of industry peers (3.8%). Price Target Changed • Nov 07
Price target decreased by 8.2% to NT$513 Down from NT$559, the current price target is an average from 4 analysts. New target price is 41% above last closing price of NT$363. Stock is down 31% over the past year. The company is forecast to post earnings per share of NT$15.40 for next year compared to NT$13.82 last year. New Risk • Nov 05
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 121% Cash payout ratio: 289% Dividend yield: 3.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 121% Cash payout ratio: 289% High level of non-cash earnings (31% accrual ratio). Reported Earnings • Oct 29
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: NT$3.47 (up from NT$3.33 in 3Q 2024). Revenue: NT$937.1m (down 6.8% from 3Q 2024). Net income: NT$270.7m (up 4.5% from 3Q 2024). Profit margin: 29% (up from 26% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 6.2%. Earnings per share (EPS) also missed analyst estimates by 10%. Revenue is forecast to grow 9.9% p.a. on average during the next 2 years, compared to a 3.8% growth forecast for the Telecom industry in Asia. Over the last 3 years on average, earnings per share has increased by 14% per year and the company’s share price has also increased by 14% per year. Reported Earnings • Jul 31
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: NT$4.66 (up from NT$3.30 in 2Q 2024). Revenue: NT$1.13b (up 26% from 2Q 2024). Net income: NT$363.4m (up 42% from 2Q 2024). Profit margin: 32% (up from 29% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.7%. Earnings per share (EPS) also surpassed analyst estimates by 8.9%. Revenue is forecast to grow 9.3% p.a. on average during the next 2 years, compared to a 3.9% growth forecast for the Telecom industry in Asia. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 19% per year. Upcoming Dividend • Jun 10
Upcoming dividend of NT$12.50 per share Eligible shareholders must have bought the stock before 17 June 2025. Payment date: 10 July 2025. Payout ratio is on the higher end at 87%, and the cash payout ratio is above 100%. Trailing yield: 2.9%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (3.8%). Announcement • May 23
Chief Telecom Inc. Approves Cash Dividend for 2024 Chief Telecom Inc. approved cash dividend of TWD 974,479,625 dollars, with TWD 12.5 dollars per share for 2024, at its 2025 Annual General Shareholders' Meeting held on May 22, 2025. Reported Earnings • May 08
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: NT$3.57 (up from NT$3.11 in 1Q 2024). Revenue: NT$953.0m (up 11% from 1Q 2024). Net income: NT$278.6m (up 15% from 1Q 2024). Profit margin: 29% (in line with 1Q 2024). Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) also missed analyst estimates by 5.7%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 3.8% growth forecast for the Telecom industry in Asia. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 17% per year. Announcement • Apr 23
Chief Telecom Inc. to Report Q1, 2025 Results on Apr 30, 2025 Chief Telecom Inc. announced that they will report Q1, 2025 results on Apr 30, 2025 Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$353, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 14x in the Telecom industry in Asia. Total returns to shareholders of 55% over the past three years. New Risk • Feb 24
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 90% The company is paying a dividend despite having no free cash flows. Dividend yield: 2.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 90% Paying a dividend despite having no free cash flows. High level of non-cash earnings (57% accrual ratio). Reported Earnings • Feb 22
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: NT$13.82 (up from NT$11.84 in FY 2023). Revenue: NT$3.79b (up 17% from FY 2023). Net income: NT$1.08b (up 17% from FY 2023). Profit margin: 28% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.4%. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 20
Chief Telecom Inc., Annual General Meeting, May 22, 2025 Chief Telecom Inc., Annual General Meeting, May 22, 2025. Location: 2 floor no,327, t`i ting ta tao, neihu district, taipei city Taiwan Announcement • Feb 12
Chief Telecom Inc. to Report Q4, 2024 Results on Feb 19, 2025 Chief Telecom Inc. announced that they will report Q4, 2024 results on Feb 19, 2025 Reported Earnings • Nov 05
Third quarter 2024 earnings: EPS exceeds analyst expectations Third quarter 2024 results: EPS: NT$3.33 (up from NT$3.11 in 3Q 2023). Revenue: NT$1.00b (up 22% from 3Q 2023). Net income: NT$259.0m (up 13% from 3Q 2023). Profit margin: 26% (down from 28% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.2%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 3.9% growth forecast for the Telecom industry in Asia. 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 23% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 23
Chief Telecom Inc. to Report Q3, 2024 Results on Oct 30, 2024 Chief Telecom Inc. announced that they will report Q3, 2024 results on Oct 30, 2024 Price Target Changed • Aug 09
Price target increased by 30% to NT$560 Up from NT$432, the current price target is an average from 3 analysts. New target price is 15% above last closing price of NT$489. Stock is up 32% over the past year. The company is forecast to post earnings per share of NT$13.18 for next year compared to NT$11.84 last year. Reported Earnings • Aug 08
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: NT$3.30 (up from NT$2.78 in 2Q 2023). Revenue: NT$897.1m (up 13% from 2Q 2023). Net income: NT$256.8m (up 19% from 2Q 2023). Profit margin: 29% (up from 27% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) also surpassed analyst estimates by 8.6%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 3.9% growth forecast for the Telecom industry in Asia. 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 23% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Aug 05
Now 21% undervalued Over the last 90 days, the stock has risen 15% to NT$414. The fair value is estimated to be NT$525, however this is not to be taken as a buy 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 15%. Revenue is forecast to grow by 14% in a year. Earnings are forecast to grow by 10% in the next year. Announcement • Jul 30
Chief Telecom Inc. to Report Q2, 2024 Results on Aug 06, 2024 Chief Telecom Inc. announced that they will report Q2, 2024 results on Aug 06, 2024 Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$408, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 14x in the Telecom industry in Asia. Total returns to shareholders of 68% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$462 per share. Upcoming Dividend • Jun 24
Upcoming dividend of NT$10.60 per share Eligible shareholders must have bought the stock before 01 July 2024. Payment date: 19 July 2024. Payout ratio is on the higher end at 88% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Taiwanese dividend payers (4.2%). Lower than average of industry peers (3.8%). Buy Or Sell Opportunity • May 10
Now 22% undervalued Over the last 90 days, the stock has risen 8.5% to NT$347. The fair value is estimated to be NT$443, however this is not to be taken as a buy 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 15%. Revenue is forecast to grow by 14% in a year. Earnings are forecast to grow by 10% in the next year. Reported Earnings • Apr 26
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: NT$3.11 (up from NT$2.88 in 1Q 2023). Revenue: NT$855.2m (up 6.4% from 1Q 2023). Net income: NT$242.0m (up 7.9% from 1Q 2023). Profit margin: 28% (in line with 1Q 2023). Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 5.4%. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 11% per year. Announcement • Apr 19
Chief Telecom Inc. to Report Q1, 2024 Results on Apr 25, 2024 Chief Telecom Inc. announced that they will report Q1, 2024 results on Apr 25, 2024 Announcement • Mar 01
Chief Telecom Inc. Announces Resignation of Ai-Jun Pang as the Company's Independent Director, Effective May 28, 2024 Chief Telecom Inc. announced resignation of Ai-Jun Pang as the Company's independent director. The effective date will be the date of 2024 Annual General Shareholders' Meeting to be held on May 28, 2024. Reported Earnings • Feb 22
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: NT$11.84 (up from NT$10.77 in FY 2022). Revenue: NT$3.24b (up 5.3% from FY 2022). Net income: NT$921.1m (up 10% from FY 2022). Profit margin: 28% (up from 27% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.0%. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Feb 17
Chief Telecom Inc., Annual General Meeting, May 28, 2024 Chief Telecom Inc., Annual General Meeting, May 28, 2024. Location: Second Floor, No. 327, Section 1, Tiding Avenue, Neihu District Taipei City Taiwan Agenda: To consider and approve the annual business report of the company; to consider and approve the cash dividend distribution report; to consider and approve the directors remuneration and employee remuneration distribution; and to consider any other matters. Price Target Changed • Jan 23
Price target increased by 13% to NT$439 Up from NT$387, the current price target is an average from 3 analysts. New target price is 37% above last closing price of NT$320. Stock is up 26% over the past year. The company is forecast to post earnings per share of NT$12.03 for next year compared to NT$10.77 last year. Major Estimate Revision • Nov 11
Consensus EPS estimates increase by 14% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from NT$11.11 to NT$12.63. Revenue forecast steady at NT$3.24b. Net income forecast to grow 7.4% next year vs 12% growth forecast for Telecom industry in Taiwan. Consensus price target broadly unchanged at NT$387. Share price was steady at NT$321 over the past week. Reported Earnings • Nov 08
Third quarter 2023 earnings: EPS exceeds analyst expectations Third quarter 2023 results: EPS: NT$3.11 (up from NT$2.65 in 3Q 2022). Revenue: NT$822.2m (up 7.3% from 3Q 2022). Net income: NT$228.9m (up 11% from 3Q 2022). Profit margin: 28% (up from 27% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 16%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Telecom industry in Asia. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Upcoming Dividend • Aug 10
Upcoming dividend of NT$9.00 per share at 2.2% yield Eligible shareholders must have bought the stock before 17 August 2023. Payment date: 22 September 2023. Payout ratio is a comfortable 72% but the company is paying out more than the cash it is generating. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.0%). Reported Earnings • Jul 28
Second quarter 2023 earnings released: EPS: NT$3.06 (vs NT$2.86 in 2Q 2022) Second quarter 2023 results: EPS: NT$3.06 (up from NT$2.86 in 2Q 2022). Revenue: NT$791.5m (up 3.4% from 2Q 2022). Net income: NT$216.6m (up 7.1% from 2Q 2022). Profit margin: 27% (up from 26% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Telecom industry in Asia. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Jun 30
Chief Telecom Inc. Approves the Cash Dividend for the Year 2022 Chief Telecom Inc. approved the total cash dividend of TWD 636,703,929 or TWD 9 per share for the year 2022, at the AGM held on June 29, 2023. Reported Earnings • Apr 14
Full year 2022 earnings released: EPS: NT$11.85 (vs NT$9.75 in FY 2021) Full year 2022 results: EPS: NT$11.85 (up from NT$9.75 in FY 2021). Revenue: NT$3.08b (up 10.0% from FY 2021). Net income: NT$836.8m (up 22% from FY 2021). Profit margin: 27% (up from 25% 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 14% per year whereas the company’s share price has increased by 12% per year. Price Target Changed • Apr 11
Price target increased by 13% to NT$430 Up from NT$381, the current price target is provided by 1 analyst. New target price is 10% above last closing price of NT$390. Stock is up 43% over the past year. The company posted earnings per share of NT$11.85 last year. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$349, the stock trades at a trailing P/E ratio of 29.5x. Average forward P/E is 14x in the Telecom industry in Taiwan. Total returns to shareholders of 68% over the past three years. Announcement • Jan 05
Chief Telecom Inc. Announces Executive Changes Chief Telecom Inc. announced the change in representative of the company's institutional director. Name of the previous position holder: Ming Chung; Resume of the previous position holder:Vice President, Information Technology Business Group of Chunghwa Telecom Co., Ltd; Name of the new position holder: Chung-Shuo Lin; Resume of the new position holder: Vice President, Information Technology Business Group of Chunghwa Telecom Co., Ltd; Reason for the change: Chunghwa Telecom assigned a new representative to serve as institutional director. Effective date of the new appointment is January 04, 2023. 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. 4 non-independent directors. Independent Director Ai-Chun Pang was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 01
Third quarter 2022 earnings released: EPS: NT$2.91 (vs NT$2.49 in 3Q 2021) Third quarter 2022 results: EPS: NT$2.91 (up from NT$2.49 in 3Q 2021). Revenue: NT$766.2m (up 6.4% from 3Q 2021). Net income: NT$205.6m (up 17% from 3Q 2021). Profit margin: 27% (up from 24% in 3Q 2021). The increase in margin was driven by higher revenue. 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 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 29
Second quarter 2022 earnings released: EPS: NT$2.86 (vs NT$2.23 in 2Q 2021) Second quarter 2022 results: EPS: NT$2.86 (up from NT$2.23 in 2Q 2021). Revenue: NT$765.7m (up 12% from 2Q 2021). Net income: NT$202.2m (up 29% from 2Q 2021). Profit margin: 26% (up from 23% 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 12% per year whereas the company’s share price has increased by 8% per year. Board Change • Jul 01
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. 4 non-independent directors. Independent Director Ai-Chun Pang was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Jun 23
Upcoming dividend of NT$9.30 per share Eligible shareholders must have bought the stock before 30 June 2022. Payment date: 18 July 2022. Payout ratio is on the higher end at 92%, and the cash payout ratio is above 100%. Trailing yield: 3.4%. Lower than top quartile of Taiwanese dividend payers (6.4%). Lower than average of industry peers (4.1%). Announcement • Jun 08
Chief Telecom Inc. Announces Cash Dividend for the Year 2022, Payable on July 18, 2022 Chief Telecom Inc. announced a cash dividend of TWD 614,936,715 or TWD 8.7 per share for the year 2022. Ex-rights (Ex-dividend) date is June 30, 2022. Ex-rights (Ex-dividend) record date is July 6, 2022. Payment date of cash dividend distribution is July 18, 2022. Board Change • May 17
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. 4 non-independent directors. Independent Director Ai-Chun Pang was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 29
First quarter 2022 earnings released: EPS: NT$2.79 (vs NT$2.38 in 1Q 2021) First quarter 2022 results: EPS: NT$2.79 (up from NT$2.38 in 1Q 2021). Revenue: NT$749.8m (up 8.7% from 1Q 2021). Net income: NT$196.5m (up 18% from 1Q 2021). Profit margin: 26% (up from 24% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 15% per year. Reported Earnings • Feb 18
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$9.75 (up from NT$8.67 in FY 2020). Revenue: NT$2.80b (up 9.2% from FY 2020). Net income: NT$686.6m (up 13% from FY 2020). Profit margin: 25% (in line with FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 8.2%, compared to a 4.0% growth forecast for the 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 increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 29
Third quarter 2021 earnings released: EPS NT$2.49 (vs NT$2.15 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$720.1m (up 10% from 3Q 2020). Net income: NT$175.6m (up 16% from 3Q 2020). Profit margin: 24% (up from 23% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 26
Upcoming dividend of NT$8.80 per share Eligible shareholders must have bought the stock before 02 September 2021. Payment date: 17 September 2021. Trailing yield: 3.0%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (3.7%). Reported Earnings • Aug 01
Second quarter 2021 earnings released: EPS NT$2.23 (vs NT$2.10 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: NT$681.3m (up 8.0% from 2Q 2020). Net income: NT$157.3m (up 6.7% from 2Q 2020). Profit margin: 23% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 01
First quarter 2021 earnings released: EPS NT$2.38 (vs NT$2.11 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$689.7m (up 12% from 1Q 2020). Net income: NT$167.1m (up 14% from 1Q 2020). Profit margin: 24% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 13% per year. Reported Earnings • Feb 21
Full year 2020 earnings released: EPS NT$8.67 (vs NT$7.83 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$2.56b (up 6.9% from FY 2019). Net income: NT$607.8m (up 12% from FY 2019). Profit margin: 24% (up from 23% 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 8% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Feb 21
Revenue beats expectations Revenue exceeded analyst estimates by 1.0%. Announcement • Feb 20
Chief Telecom Inc., Annual General Meeting, Jun 11, 2021 Chief Telecom Inc., Annual General Meeting, Jun 11, 2021. Location: Second Floor, No. 327, Section 1, Tiding Avenue, Neihu District Tai Pei Taiwan Agenda: To consider the 109th annual business report of the company; to consider the audit report of the 109th annual audit committee of the company; to consider the company's 109 year report on directors' remuneration and employee remuneration distribution; to consider revise the report of the company's Integrity Operation Procedures and Behavior Guidelines; and to consider the company plans to issue cash with capital reserve. Is New 90 Day High Low • Jan 28
New 90-day low: NT$301 The company is down 18% from its price of NT$365 on 30 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is up 1.0% over the same period. Is New 90 Day High Low • Jan 12
New 90-day low: NT$338 The company is down 5.0% from its price of NT$356 on 15 October 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is up 3.0% over the same period. Reported Earnings • Oct 27
Third quarter earnings released Over the last 12 months the company has reported total profits of NT$587.7m, up 11% from the prior year. Total revenue was NT$2.51b over the last 12 months, up 6.0% from the prior year. Analyst Estimate Surprise Post Earnings • Oct 27
Third-quarter earnings released: Revenue beats expectations Third-quarter revenue exceeded analyst estimates by 0.7% at NT$653.9m. 
