New Risk • Jun 11
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$97.0m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (31% average weekly change). Earnings have declined by 18% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (16% increase in shares outstanding). Significant insider selling over the past 3 months (US$2.0m sold). Market cap is less than US$100m (US$97.0m market cap). Recent Insider Transactions • May 28
Independent Director recently sold US$143k worth of stock On the 19th of May, Jason Adelman sold around 10k shares on-market at roughly US$13.99 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$693k more than they bought in the last 12 months. Reported Earnings • May 17
Third quarter 2026 earnings released: US$0.005 loss per share (vs US$0.059 loss in 3Q 2025) Third quarter 2026 results: US$0.005 loss per share (improved from US$0.059 loss in 3Q 2025). Revenue: US$16.5m (up 124% from 3Q 2025). Net loss: US$40.0k (loss narrowed 92% from 3Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 192 percentage points per year, which is a significant difference in performance. New Risk • May 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 18% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Earnings have declined by 12% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (18% increase in shares outstanding). Significant insider selling over the past 3 months (US$245k sold). Announcement • Apr 29
Trio-Tech International has completed a Follow-on Equity Offering in the amount of $10.000004 million. Trio-Tech International has completed a Follow-on Equity Offering in the amount of $10.000004 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,052,632
Price\Range: $9.5
Discount Per Security: $0.4275
Transaction Features: Registered Direct Offering Announcement • Apr 26
Trio-Tech International has filed a Follow-on Equity Offering in the amount of $10 million. Trio-Tech International has filed a Follow-on Equity Offering in the amount of $10 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,052,632
Price\Range: $9.499996
Transaction Features: Registered Direct Offering Recent Insider Transactions • Apr 16
Director recently sold US$128k worth of stock On the 14th of April, Hock Ting sold around 19k shares on-market at roughly US$6.87 per share. This transaction amounted to 10% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$336k more than they bought in the last 12 months. Reported Earnings • Feb 16
Second quarter 2026 earnings released: EPS: US$0.008 (vs US$0.06 in 2Q 2025) Second quarter 2026 results: EPS: US$0.008 (down from US$0.06 in 2Q 2025). Revenue: US$15.6m (up 82% from 2Q 2025). Net income: US$70.0k (down 86% from 2Q 2025). Profit margin: 0.4% (down from 6.0% in 2Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 122 percentage points per year, which is a significant difference in performance. New Risk • Jan 30
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 American stocks, typically moving 11% 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 4.5% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.7% net profit margin). Significant insider selling over the past 3 months (US$181k sold). Market cap is less than US$100m (US$51.9m market cap). Recent Insider Transactions • Jan 12
Independent Director recently sold US$56k worth of stock On the 7th of January, Richard Horowitz sold around 8k shares on-market at roughly US$7.50 per share. This transaction amounted to 1.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$105k more than they bought in the last 12 months. Recent Insider Transactions Derivative • Dec 31
Director notifies of intention to sell stock Hock Ting intends to sell 93k shares in the next 90 days after lodging an Intent To Sell Form on the 29th of December. If the sale is conducted around the recent share price of US$12.88, it would amount to US$1.2m. Since September 2025, Hock has owned 100.66k shares directly. Company insiders have collectively bought US$195k more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions Derivative • Dec 19
Independent Director notifies of intention to sell stock Richard Horowitz intends to sell 50k shares in the next 90 days after lodging an Intent To Sell Form on the 18th of December. If the sale is conducted around the recent share price of US$10.00, it would amount to US$500k. Since March 2025, Richard has owned 395.36k shares directly. Company insiders have collectively bought US$195k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Nov 16
First quarter 2026 earnings released: EPS: US$0.017 (vs US$0.057 loss in 1Q 2025) First quarter 2026 results: EPS: US$0.017 (up from US$0.057 loss in 1Q 2025). Revenue: US$15.5m (up 58% from 1Q 2025). Net income: US$75.0k (up US$318.0k from 1Q 2025). Profit margin: 0.5% (up from net loss in 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Announcement • Oct 23
Trio-Tech International, Annual General Meeting, Dec 10, 2025 Trio-Tech International, Annual General Meeting, Dec 10, 2025. Location: u.s. corporate office, located at 16139 wyandotte street, van nuys, california 91406, United States Recent Insider Transactions Derivative • Oct 18
Independent Director exercised options to buy US$143k worth of stock. On the 13th of October, Jason Adelman exercised options to buy 20k shares at a strike price of around US$5.27, costing a total of US$105k. This transaction amounted to 111% of their direct individual holding at the time of the trade. Since March 2025, Jason's direct individual holding has increased from 18.00k shares to 38.00k. Company insiders have collectively bought US$195k more than they sold, via options and on-market transactions, in the last 12 months. New Risk • Sep 21
New major risk - Revenue and earnings growth Earnings have declined by 0.7% 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 0.7% per year over the past 5 years. Minor Risk Market cap is less than US$100m (US$23.8m market cap). Reported Earnings • Sep 21
Full year 2025 earnings released: US$0.008 loss per share (vs US$0.25 profit in FY 2024) Full year 2025 results: US$0.008 loss per share (down from US$0.25 profit in FY 2024). Revenue: US$36.5m (down 14% from FY 2024). Net loss: US$36.0k (down 103% 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 75 percentage points per year, which is a significant difference in performance. Reported Earnings • May 14
Third quarter 2025 earnings released: US$0.12 loss per share (vs US$0.017 profit in 3Q 2024) Third quarter 2025 results: US$0.12 loss per share (down from US$0.017 profit in 3Q 2024). Revenue: US$7.38m (down 29% from 3Q 2024). Net loss: US$500.0k (down US$571.0k from profit in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • May 14
Trio-Tech International (NYSEAM:TRT) announces an Equity Buyback for $1 million worth of its shares. Trio-Tech International (NYSEAM:TRT) announces a share repurchase program. Under the program, the company will repurchase up to $1 million worth of its stock. The program will remain in effect until May 8, 2027. Recent Insider Transactions Derivative • Mar 18
Independent Director exercised options to buy US$124k worth of stock. On the 13th of March, Richard Horowitz exercised options to buy 20k shares at a strike price of around US$2.53, costing a total of US$51k. This transaction amounted to 5.3% of their direct individual holding at the time of the trade. Since June 2024, Richard has owned 375.36k shares directly. Company insiders have collectively bought US$138k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Feb 14
Second quarter 2025 earnings released: EPS: US$0.12 (vs US$0.12 in 2Q 2024) Second quarter 2025 results: EPS: US$0.12. Revenue: US$8.62m (down 29% from 2Q 2024). Net income: US$514.0k (up 2.2% from 2Q 2024). Profit margin: 6.0% (up from 4.1% in 2Q 2024). The increase in margin was driven by lower expenses. Reported Earnings • Nov 14
First quarter 2025 earnings released: US$0.057 loss per share (vs US$0.056 profit in 1Q 2024) First quarter 2025 results: US$0.057 loss per share (down from US$0.056 profit in 1Q 2024). Revenue: US$9.80m (down 1.7% from 1Q 2024). Net loss: US$243.0k (down 206% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 9% per year. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to US$7.18, the stock trades at a trailing P/E ratio of 29x. Average trailing P/E is 31x in the Semiconductor industry in the US. Total returns to shareholders of 45% over the past three years. Announcement • Oct 29
Trio-Tech International, Annual General Meeting, Dec 10, 2024 Trio-Tech International, Annual General Meeting, Dec 10, 2024. Location: 16139 wyandotte street, van nuys, california, 91406, United States Valuation Update With 7 Day Price Move • Oct 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$6.27, the stock trades at a trailing P/E ratio of 25.4x. Average trailing P/E is 28x in the Semiconductor industry in the US. Total returns to shareholders of 39% over the past three years. Reported Earnings • Sep 24
Full year 2024 earnings released: EPS: US$0.25 (vs US$0.38 in FY 2023) Full year 2024 results: EPS: US$0.25 (down from US$0.38 in FY 2023). Revenue: US$42.3m (down 2.2% from FY 2023). Net income: US$1.05m (down 32% from FY 2023). Profit margin: 2.5% (down from 3.6% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. New Risk • May 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.8% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Profit margins are more than 30% lower than last year (2.3% net profit margin). Shareholders have been diluted in the past year (3.8% increase in shares outstanding). Market cap is less than US$100m (US$28.3m market cap). Reported Earnings • May 13
Third quarter 2024 earnings released: EPS: US$0.017 (vs US$0.003 loss in 3Q 2023) Third quarter 2024 results: EPS: US$0.017 (up from US$0.003 loss in 3Q 2023). Revenue: US$10.4m (up 5.6% from 3Q 2023). Net income: US$71.0k (up US$83.0k from 3Q 2023). Profit margin: 0.7% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. 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 9% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions Derivative • Apr 07
Independent Director exercised options to buy US$133k worth of stock. On the 3rd of April, Jason Adelman exercised options to buy 20k shares at a strike price of around US$3.28, costing a total of US$66k. This transaction amounted to 200% of their direct individual holding at the time of the trade. Since June 2023, Jason has owned 10.00k shares directly. Company insiders have collectively bought US$252k more than they sold, via options and on-market transactions, in the last 12 months. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$6.59, the stock trades at a trailing P/E ratio of 31.2x. Average trailing P/E is 30x in the Semiconductor industry in the US. Total returns to shareholders of 32% over the past three years. Reported Earnings • Feb 14
Second quarter 2024 earnings released: EPS: US$0.12 (vs US$0.13 in 2Q 2023) Second quarter 2024 results: EPS: US$0.12 (down from US$0.13 in 2Q 2023). Revenue: US$12.2m (down 1.5% from 2Q 2023). Net income: US$503.0k (down 2.7% from 2Q 2023). Profit margin: 4.1% (down from 4.2% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. New Risk • Feb 13
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Profit margins are more than 30% lower than last year (2.2% net profit margin). Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Market cap is less than US$100m (US$23.9m market cap). Recent Insider Transactions Derivative • Dec 03
President exercised options to buy US$306k worth of stock. On the 29th of November, Siew Yong exercised options to buy 60k shares at a strike price of around US$3.03, costing a total of US$182k. This transaction amounted to 11% of their direct individual holding at the time of the trade. Since September 2023, Siew has owned 530.07k shares directly. Company insiders have collectively bought US$137k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Nov 15
First quarter 2024 earnings released: EPS: US$0.056 (vs US$0.22 in 1Q 2023) First quarter 2024 results: EPS: US$0.056 (down from US$0.22 in 1Q 2023). Revenue: US$9.97m (down 17% from 1Q 2023). Net income: US$230.0k (down 74% from 1Q 2023). Profit margin: 2.3% (down from 7.4% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 48% 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 • Nov 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to US$5.57, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 24x in the Semiconductor industry in the US. Total returns to shareholders of 39% over the past three years. Announcement • Oct 28
Trio-Tech International, Annual General Meeting, Dec 11, 2023 Trio-Tech International, Annual General Meeting, Dec 11, 2023, at 10:00 Pacific Standard Time. Location: 16139 Wyandotte Street, Van Nuys, california United States Agenda: To elect four directors to our Board of Directors, each to serve until our next annual meeting of shareholders, or until their respective successor is duly elected and qualified; to approve an amendment to the 2017 Director Equity Incentive Plan to increase the number of shares of the Company’s common stock, no par value that may be issued as equity incentive awards including incentive stock options pursuant thereto from 600,000 shares to 900,000 shares of Common Stock; to approve an amendment to our Amended and Restated Bylaws to give the Board, in its sole discretion, flexibility to set the number of directors to serve on our Board, with a minimum of four directors, and a maximum of seven directors; to approve the ratification of Mazars LLP as our registered public accounting firm for the year ended June 30, 2024; and transaction of such other business as may properly come before the meeting or any adjournment thereof. Announcement • Sep 28
Trio-Tech International Appoints Siew Wai Yong, as Chairman of the Board of Directors Trio-Tech International announced the appointment of CEO, Mr. Siew Wai Yong, as Chairman of the Board of Directors, effective September 20, 2023. New Risk • Sep 28
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.6% Last year net profit margin: 5.4% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Profit margins are more than 30% lower than last year (3.6% net profit margin). Market cap is less than US$100m (US$25.8m market cap). Reported Earnings • Sep 28
Full year 2023 earnings released: EPS: US$0.38 (vs US$0.60 in FY 2022) Full year 2023 results: EPS: US$0.38 (down from US$0.60 in FY 2022). Revenue: US$43.3m (down 1.8% from FY 2022). Net income: US$1.55m (down 35% from FY 2022). Profit margin: 3.6% (down from 5.4% in FY 2022). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$7.10, the stock trades at a trailing P/E ratio of 13.3x. Average trailing P/E is 25x in the Semiconductor industry in the US. Total returns to shareholders of 108% over the past three years. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to US$6.35, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 23x in the Semiconductor industry in the US. Total returns to shareholders of 84% over the past three years. Reported Earnings • May 16
Third quarter 2023 earnings released: US$0.003 loss per share (vs US$0.042 loss in 3Q 2022) Third quarter 2023 results: US$0.003 loss per share (improved from US$0.042 loss in 3Q 2022). Revenue: US$9.84m (down 12% from 3Q 2022). Net loss: US$12.0k (loss narrowed 93% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions Derivative • Mar 28
Independent Director exercised options to buy US$95k worth of stock. On the 24th of March, Jason Adelman exercised options to buy 20k shares at a strike price of around US$2.53, costing a total of US$51k. Since September 2022, Jason has owned 12.50k shares directly. Company insiders have collectively bought US$103k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Feb 12
Second quarter 2023 earnings released: EPS: US$0.13 (vs US$0.22 in 2Q 2022) Second quarter 2023 results: EPS: US$0.13 (down from US$0.22 in 2Q 2022). Revenue: US$12.4m (up 13% from 2Q 2022). Net income: US$517.0k (down 40% from 2Q 2022). Profit margin: 4.2% (down from 7.8% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Board Change • Nov 17
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. No experienced directors. 5 highly experienced directors. Director Victor Ting was the last director to join the board, commencing their role in 2010. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 12
First quarter 2023 earnings released: EPS: US$0.22 (vs US$0.23 in 1Q 2022) First quarter 2023 results: EPS: US$0.22 (down from US$0.23 in 1Q 2022). Revenue: US$11.9m (up 17% from 1Q 2022). Net income: US$881.0k (down 3.4% from 1Q 2022). Profit margin: 7.4% (down from 9.0% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 21
Trio-Tech International, Annual General Meeting, Dec 07, 2022 Trio-Tech International, Annual General Meeting, Dec 07, 2022, at 10:00 Pacific Standard Time. Location: 16139 Wyandotte Street, Van Nuys, California 91406 Van Nuys California United States Agenda: To consider transaction of such other business as may properly come before the meeting or any adjournment thereof; to consider elect five directors to our Board of Directors, each to serve until our next annual meeting of shareholders, or until their respective successor; and to hold a non-binding, advisory vote on the compensation of our Named Executive Officers. Reported Earnings • Sep 24
Full year 2022 earnings released: EPS: US$0.60 (vs US$0.15 loss in FY 2021) Full year 2022 results: EPS: US$0.60 (up from US$0.15 loss in FY 2021). Revenue: US$44.1m (up 36% from FY 2021). Net income: US$2.39m (up US$2.96m from FY 2021). Profit margin: 5.4% (up from net loss in FY 2021). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improved over the past week After last week's 19% share price gain to US$5.18, the stock trades at a trailing P/E ratio of 34.4x. Average trailing P/E is 18x in the Semiconductor industry in the US. Total returns to shareholders of 79% over the past three years. Recent Insider Transactions Derivative • Jun 29
CFO, Corporate VP & Director exercised options to buy US$131k worth of stock. On the 27th of June, Hock Ting exercised options to buy 30k shares at a strike price of around US$3.03, costing a total of US$91k. This transaction amounted to 49% of their direct individual holding at the time of the trade. Since September 2021, Hock's direct individual holding has decreased from 99.26k shares to 61.66k. Company insiders have collectively sold US$1.1m more than they bought, via options and on-market transactions in the last 12 months. Announcement • May 17
Trio-Tech International Announces Chief Financial Officer Changes, Effective July 1, 2022 On May 16, 2022, Trio-Tech International announced the appointment of Srinivasan Anitha as Chief Financial Officer effective July 1, 2022. Anitha is a Chartered Accountant and a Certified Internal Auditor, has over twenty years of diversified experience in areas of audit, finance and corporate consulting. Anitha has been a consultant to the Company for more than the past 5 years and is currently serving as the Internal Audit Team Leader of the Company. Anitha will succeed Victor Ting Hock Ming, who will step down as Chief Financial Officer, effective July 1, 2022. Reported Earnings • May 16
Third quarter 2022 earnings released: US$0.042 loss per share (vs US$0.045 profit in 3Q 2021) Third quarter 2022 results: US$0.042 loss per share (down from US$0.045 profit in 3Q 2021). Revenue: US$11.1m (up 37% from 3Q 2021). Net loss: US$167.0k (down 194% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Board Change • Apr 27
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. No experienced directors. 5 highly experienced directors. CFO, Corporate VP & Director Victor Ting was the last director to join the board, commencing their role in 2010. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 24
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. No experienced directors. 5 highly experienced directors. CFO, Corporate VP & Director Victor Ting was the last director to join the board, commencing their role in 2010. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 26
Trio-Tech International Resumes Operations at Tianjin City Facility Trio-Tech International announced that it has resumed full operations at the Company’s Tianjin, China, facility. On, January 20, 2022 the Tianjin City Government removed the lockdown measures and the company commenced resuming operations at its facility. Trio-Tech Tianjin was in full cooperation with the lockdown mandate imposed by the Tianjin City Government and the company is resuming operations cautiously with stringent health and safety measures as required by the local government mandate. Throughout the lockdown, the company’s primary concern has been the safety of its employees, customers, suppliers, and the Tianjin community as a whole. The company expects to continue working closely with local authorities to achieve safe, long-term, COVID-19 compliant operations consistent with the needs of the Tianjin City authorities. Announcement • Jan 20
Trio-Tech International Temporarily Closes Facility to Comply with Tianjin City COVID-19 Safety and Restriction Measures Trio-Tech International announced that it is in full compliance with the Tianjin City Government’s Business Closure lockdown. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment deteriorated over the past week After last week's 22% share price decline to US$6.90, the stock trades at a trailing P/E ratio of 77.7x. Average trailing P/E is 30x in the Semiconductor industry in the US. Total returns to shareholders of 137% over the past three years. Recent Insider Transactions • Jan 05
President recently sold US$128k worth of stock On the 31st of December, Siew Yong sold around 10k shares on-market at roughly US$12.81 per share. In the last 3 months, they made an even bigger sale worth US$408k. Siew has been a seller over the last 12 months, reducing personal holdings by US$536k. Recent Insider Transactions • Jan 05
President recently sold US$128k worth of stock On the 31st of December, Siew Yong sold around 10k shares on-market at roughly US$12.81 per share. In the last 3 months, they made an even bigger sale worth US$408k. Siew has been a seller over the last 12 months, reducing personal holdings by US$536k. Recent Insider Transactions • Dec 28
President recently sold US$408k worth of stock On the 21st of December, Siew Yong sold around 39k shares on-market at roughly US$10.46 per share. This was the largest sale by an insider in the last 3 months. This was Siew's only on-market trade for the last 12 months. Board Change • Dec 28
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. No experienced directors. 5 highly experienced directors. CFO, Corporate VP & Director Victor Ting was the last director to join the board, commencing their role in 2010. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improved over the past week After last week's 15% share price gain to US$4.57, the stock trades at a trailing P/E ratio of 28.9x. Average trailing P/E is 29x in the Semiconductor industry in the US. Total returns to shareholders of 5.6% over the past three years. Recent Insider Transactions • Jun 09
CFO, Corporate VP & Director recently sold US$123k worth of stock On the 4th of June, H. Ting sold around 21k shares on-market at roughly US$5.92 per share. This was the largest sale by an insider in the last 3 months. H. has been a seller over the last 12 months, reducing personal holdings by US$249k. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improved over the past week After last week's 22% share price gain to US$6.48, the stock trades at a trailing P/E ratio of 40.9x. Average trailing P/E is 33x in the Semiconductor industry in the US. Total returns to shareholders of 40% over the past three years. Recent Insider Transactions Derivative • Mar 10
Independent Chairman of the Board exercised options to buy US$250k worth of stock. On the 8th of March, A. Wilson exercised options to buy 50k shares at a strike price of around US$3.26, costing a total of US$163k. This transaction amounted to 16% of their direct individual holding at the time of the trade. Since September 2020, Wilson's direct individual holding has increased from 295.50k shares to 370.50k. Company insiders have collectively bought US$134k more than they sold, via options and on-market transactions, in the last 12 months. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment improved over the past week After last week's 16% share price gain to US$5.77, the stock is trading at a trailing P/E ratio of 40.6x, up from the previous P/E ratio of 35.1x. This compares to an average P/E of 40x in the Semiconductor industry in the US. Total returns to shareholders over the past three years were flat. Reported Earnings • Feb 12
Second quarter 2021 earnings released: EPS US$0.069 (vs US$0.12 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$8.20m (down 8.5% from 2Q 2020). Net income: US$256.0k (down 40% from 2Q 2020). Profit margin: 3.1% (down from 4.7% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 06
New 90-day high: US$4.96 The company is up 21% from its price of US$4.10 on 06 November 2020. The American market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 14% over the same period. Is New 90 Day High Low • Jan 09
New 90-day high: US$4.36 The company is up 19% from its price of US$3.65 on 09 October 2020. The American market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 17% over the same period. Is New 90 Day High Low • Nov 26
New 90-day high: US$4.30 The company is up 19% from its price of US$3.60 on 27 August 2020. The American market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 14% over the same period. Is New 90 Day High Low • Oct 21
New 90-day high: US$4.27 The company is up 12% from its price of US$3.80 on 23 July 2020. The American market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 15% over the same period. Valuation Update With 7 Day Price Move • Oct 13
Market bids up stock over the past week After last week's 22% share price gain to US$4.13, the stock is trading at a trailing P/E ratio of 15.7x, up from the previous P/E ratio of 12.9x. This compares to an average P/E of 41x in the Semiconductor industry in the US. Total return to shareholders over the past three years is a loss of 22%. Reported Earnings • Sep 26
Full year earnings released - EPS US$0.26 Over the last 12 months the company has reported total profits of US$969.0k, down 38% from the prior year. Total revenue was US$34.5m over the last 12 months, down 12% from the prior year. Profit margins were 2.8%, which is lower than the 4.0% margin from last year. The decrease in margin was driven by lower revenue.