Declared Dividend • Jun 21
Final dividend of US$0.30 announced Shareholders will receive a dividend of US$0.30. Ex-date: 2nd July 2026 Payment date: 16th July 2026 Dividend yield will be 11%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (21% earnings payout ratio) and cash flows (68% cash payout ratio). The dividend has increased by an average of 3.6% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 5.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 20
Full year 2026 earnings released: EPS: US$0.67 (vs US$0.70 in FY 2025) Full year 2026 results: EPS: US$0.67 (down from US$0.70 in FY 2025). Revenue: US$61.3m (down 9.3% from FY 2025). Net income: US$10.6m (down 4.6% from FY 2025). Profit margin: 17% (in line with FY 2025). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. New Risk • Jun 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (US$53.4m market cap). Announcement • Feb 04
Deswell Industries Inc. Announces CFO Changes Deswell Industries, Inc. has announced the appointment of Ms. Karen Chan Chi Yin as Chief Financial Officer (“CFO”), effective February 2, 2026. Ms. Chan succeeds Mr. Herman Wong, who has resigned from the position to pursue other interests. Ms. Chan brings over 20 years of extensive financial experience, specializing in accounting, mergers and acquisitions, and initial public offerings for Hong Kong-listed companies. She began her career at Deloitte Touche Tohmatsu. Ms. Chan first joined Deswell in 2004, serving as Finance and Administration Manager for a key subsidiary for four years. She subsequently built her expertise in senior financial roles at other Hong Kong-listed companies, most recently holding the position of Chief Financial Officer at SIM Technology Group Ltd. Ms. Chan holds a Bachelor of Business Administration in Accountancy and a Master of Science in Finance from The Chinese University of Hong Kong. She is also a member of the Hong Kong Institute of Certified Public Accountants. Announcement • Nov 14
Deswell Industries, Inc. announces Semi-Annual dividend, payable on December 23, 2025 Deswell Industries, Inc. announced Semi-Annual dividend of USD 0.1000 per share payable on December 23, 2025, ex-date on December 02, 2025 and record date on December 02, 2025. Announcement • Sep 22
Deswell Industries, Inc., Annual General Meeting, Nov 10, 2025 Deswell Industries, Inc., Annual General Meeting, Nov 10, 2025, at 10:00 China Standard Time. Location: 6/f, huangang industrial estate, houjie town, guangdong province, china, dongguan city China Announcement • Jun 18
Deswell Industries, Inc. Declares Dividend for the Second Half of the Fiscal Year Ended March 31, 2025, Payable on July 17, 2025 Deswell Industries, Inc. board of directors declared a cash dividend of $0.10 per share for the second half of the fiscal year ended March 31, 2025. The dividend will be payable on July 17, 2025 to shareholders of record as of July 3, 2025. Announcement • Nov 16
Deswell Industries, Inc. Declares Cash Dividend for the First Half of the Fiscal Year Ended September 30, 2024, Payable on December 23, 2024 Deswell Industries, Inc. announced that its board of directors declared a cash dividend of $0.10 per share for the first half of the fiscal year ended September 30, 2024. The dividend will be payable on December 23, 2024 to shareholders of record as of December 2, 2024. Announcement • Oct 02
Deswell Industries, Inc., Annual General Meeting, Nov 12, 2024 Deswell Industries, Inc., Annual General Meeting, Nov 12, 2024, at 10:00 China Standard Time. Location: no.5, shichangxiang, chang an town, guangdong province, dongguan city China Announcement • Aug 01
Deswell Industries, Inc. announced delayed 20-F filing On 07/31/2024, Deswell Industries, Inc. announced that they will be unable to file their next 20-F by the deadline required by the SEC. Buy Or Sell Opportunity • Apr 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.3% to US$2.25. The fair value is estimated to be US$2.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.3% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Mar 14
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to US$2.21. The fair value is estimated to be US$2.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.3% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Feb 27
Deswell Industries, Inc. Elects Wai Ming Lau as Chairman of the Board Deswell Industries, Inc. announced that the Board of Directors has unanimously elected Ms. Lau Wai Ming as Chairman of the Board, effective February 19, 2024. Ms. Lau was elected to the Board of Directors by the Company’s shareholders at the 2023 Annual Meeting of Shareholders on February 6, 2024. Prior to joining the Company, Ms. Lau was an Executive Director at PAG Consulting where she headed the firm’s Global Human Capital operations. Prior to PAG Consulting, Ms. Lau worked at Goldman Sachs for over 13 years, including serving as an Executive Director in Goldman Sachs’ Finance Division. Earlier in her career, Ms. Lau worked at Deloitte Touche Tohmatsu in its Assurance and Tax Advisory Services division for seven years, including as a Manager. Ms. Lau was accredited by The American Institute of Certified Public Accountants in 2003 and received her bachelor’s degree in accountancy from The George Washington University in 2001. Buy Or Sell Opportunity • Feb 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to US$2.24. The fair value is estimated to be US$2.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.3% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Dec 22
Deswell Industries, Inc., Annual General Meeting, Feb 06, 2024 Deswell Industries, Inc., Annual General Meeting, Feb 06, 2024, at 10:00 China Standard Time. Location: RM 516-517 Hong Leong Industrial Complex, 4 Wang Kwong Road, Kowloon Bay Kowloon Hong Kong Agenda: To elect five members of the Board of Directors to service for the upcoming year; to ratify the selection of BDO China Shu Lun Pan Certified Public Accountants LLP as the independent registered public accountants of the Company for the year ending March 31, 2024; and to consider and act upon such other business as may properly come before the annual meeting or any adjournments thereof. Reported Earnings • Nov 20
First half 2024 earnings released: EPS: US$0.22 (vs US$0.035 loss in 1H 2023) First half 2024 results: EPS: US$0.22 (up from US$0.035 loss in 1H 2023). Revenue: US$37.7m (down 15% from 1H 2023). Net income: US$3.56m (up US$4.12m from 1H 2023). Profit margin: 9.4% (up from net loss in 1H 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 8% per year. Announcement • Nov 18
Deswell Industries, Inc. Declares First Half of the Fiscal Year Ended September 30, 2023, Payable on December 21, 2023 Deswell Industries, Inc. announced that its board of directors declared a cash dividend of $0.10 per share for the first half of the fiscal year ended September 30, 2023. the dividend will be payable on December 21, 2023 to shareholders of record as of December 1, 2023. New Risk • Jul 31
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 59% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (155% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.7% net profit margin). Market cap is less than US$100m (US$40.8m market cap). Reported Earnings • Jul 31
Full year 2023 earnings released: EPS: US$0.13 (vs US$0.52 in FY 2022) Full year 2023 results: EPS: US$0.13 (down from US$0.52 in FY 2022). Revenue: US$77.3m (down 10% from FY 2022). Net income: US$2.06m (down 75% from FY 2022). Profit margin: 2.7% (down from 9.6% in FY 2022). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 26
Upcoming dividend of US$0.10 per share at 7.5% yield Eligible shareholders must have bought the stock before 03 July 2023. Payment date: 20 July 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 7.5%. Within top quartile of American dividend payers (5.0%). Higher than average of industry peers (1.5%). Reported Earnings • Jun 21
Full year 2023 earnings released: EPS: US$0.13 (vs US$0.52 in FY 2022) Full year 2023 results: EPS: US$0.13 (down from US$0.52 in FY 2022). Revenue: US$77.5m (down 9.8% from FY 2022). Net income: US$2.06m (down 75% from FY 2022). Profit margin: 2.7% (down from 9.6% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Jun 17
Deswell Industries, Inc. Announces Board Changes The Board of Directors of Deswell Industries, Inc. is saddened to announcedthat Mr. Richard Pui Hon Lau, the Company’s chairman, passed away on June 12, 2023. The Board of Directors also announced the appointment of Mr. Chin Pang Li as the Chairman of the Board of Directors. Mr. Li has served the Company as a Member of the Board of Directors and in various executive capacities with the Company and its predecessors since its inception in 1987. He became Secretary of the Company in February 1995 and Chief Financial Officer in May 1995, a position which he held until March 31, 2006. Mr. Li received his Bachelor of Science degree from Chun Yan Institute College, Taiwan in 1967. Additionally, the Board of Directors announces the appointment of Mr. Ben Yiu Sing Poon as interim Director, until the Company's 2023 Annual General Meeting, or other shareholders’ meeting called before such date, when his appointment shall be submitted for shareholder approval. Mr. Poon has been working in one of the company’s major subsidiaries since 2002. He received his bachelor’s degree in mechanical engineering design from Northeastern University in Massachusetts in 2002. He has been working in the plastic injection manufacturing industrial field for 21 years and was appointed as a General Manager of a major subsidiary since 2022. Mr. Poon is the nephew of Mr. Lau. Mr. Lau and the Board had taken care over the years to ensure that the Company and its subsidiaries would be prepared to continue in his absence. Upcoming Dividend • Nov 23
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 30 November 2022. Payment date: 22 December 2022. Payout ratio is on the higher end at 94%, and the cash payout ratio is above 100%. Trailing yield: 6.2%. Within top quartile of American dividend payers (4.3%). Higher than average of industry peers (1.5%). Reported Earnings • Nov 18
First half 2023 earnings released: US$0.035 loss per share (vs US$0.27 profit in 1H 2022) First half 2023 results: US$0.035 loss per share (down from US$0.27 profit in 1H 2022). Revenue: US$44.4m (up 12% from 1H 2022). Net loss: US$560.0k (down 113% from profit in 1H 2022). Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
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. Independent Non-Executive Director Wing-Ki Hui was the last director to join the board, commencing their role in 2004. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Oct 30
Chairman of the Board recently bought US$622k worth of stock On the 25th of October, Hon Pui bought around 195k shares on-market at roughly US$3.20 per share. This transaction amounted to 2.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Hon has been a buyer over the last 12 months, purchasing a net total of US$952k worth in shares. Reported Earnings • Aug 02
Full year 2022 earnings released: EPS: US$0.52 (vs US$0.52 in FY 2021) Full year 2022 results: EPS: US$0.52 (vs US$0.52 in FY 2021). Revenue: US$86.0m (up 33% from FY 2021). Net income: US$8.23m (flat on FY 2021). Profit margin: 9.6% (down from 13% in FY 2021). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 22
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 15 July 2022. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 6.1%. Within top quartile of American dividend payers (4.3%). Higher than average of industry peers (1.7%). Reported Earnings • Jun 17
Full year 2022 earnings released: EPS: US$0.53 (vs US$0.52 in FY 2021) Full year 2022 results: EPS: US$0.53 (up from US$0.52 in FY 2021). Revenue: US$85.5m (up 32% from FY 2021). Net income: US$8.36m (up 1.6% from FY 2021). Profit margin: 9.8% (down from 13% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. 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. Independent Non-Executive Director Wing-Ki Hui was the last director to join the board, commencing their role in 2004. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Feb 02
Chairman of the Board recently bought US$158k worth of stock On the 25th of January, Hon Pui bought around 41k shares on-market at roughly US$3.90 per share. This was the largest purchase by an insider in the last 3 months. Hon has been a buyer over the last 12 months, purchasing a net total of US$345k worth in shares. Upcoming Dividend • Nov 26
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 03 December 2021. Payment date: 22 December 2021. Trailing yield: 4.3%. Within top quartile of American dividend payers (3.5%). Higher than average of industry peers (1.2%). Reported Earnings • Nov 25
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: US$0.27 (up from US$0.096 in 1H 2021). Revenue: US$39.8m (up 44% from 1H 2021). Net income: US$4.30m (up 181% from 1H 2021). Profit margin: 11% (up from 5.5% in 1H 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 18% share price gain to US$4.81, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 20x in the Electronic industry in the US. Total returns to shareholders of 79% over the past three years. Reported Earnings • Jul 27
Full year 2021 earnings released: EPS US$0.52 (vs US$0.083 loss in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were flat. Full year 2021 results: Revenue: US$64.9m (flat on FY 2020). Net income: US$8.23m (up US$9.55m from FY 2020). Profit margin: 13% (up from net loss in FY 2020). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment improved over the past week After last week's 16% share price gain to US$5.55, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 24x in the Electronic industry in the US. Total returns to shareholders of 94% over the past three years. Upcoming Dividend • Jun 17
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 24 June 2021. Payment date: 09 July 2021. Trailing yield: 4.2%. Within top quartile of American dividend payers (3.4%). Higher than average of industry peers (1.2%). Reported Earnings • Jun 12
Full year 2021 earnings released: EPS US$0.52 (vs US$0.083 loss in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were flat. Full year 2021 results: Revenue: US$64.9m (flat on FY 2020). Net income: US$8.23m (up US$9.55m from FY 2020). Profit margin: 13% (up from net loss in FY 2020). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Recent Insider Transactions • Mar 23
Chairman of the Board recently bought US$186k worth of stock On the 16th of March, Hon Pui bought around 52k shares on-market at roughly US$3.57 per share. This was the largest purchase by an insider in the last 3 months. Hon has been a buyer over the last 12 months, purchasing a net total of US$876k worth in shares. Is New 90 Day High Low • Mar 04
New 90-day high: US$3.78 The company is up 29% from its price of US$2.93 on 03 December 2020. The American market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 13% over the same period. Is New 90 Day High Low • Feb 06
New 90-day high: US$3.35 The company is up 19% from its price of US$2.81 on 06 November 2020. The American market is up 15% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 20% over the same period. Is New 90 Day High Low • Nov 12
New 90-day high: US$2.95 The company is up 20% from its price of US$2.46 on 14 August 2020. The American market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 11% over the same period.