Upcoming Dividend • Apr 16
Upcoming dividend of NT$5.80 per share Eligible shareholders must have bought the stock before 23 April 2026. Payment date: 21 May 2026. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Taiwanese dividend payers (5.1%). Higher than average of industry peers (3.8%). Declared Dividend • Mar 12
Dividend increased to NT$5.80 Dividend of NT$5.80 is 5.5% higher than last year. Ex-date: 23rd April 2026 Payment date: 21st May 2026 Dividend yield will be 4.9%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (60% cash payout ratio). The dividend has increased by an average of 4.0% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 5.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 11
Full year 2025 earnings released: EPS: NT$10.06 (vs NT$10.48 in FY 2024) Full year 2025 results: EPS: NT$10.06 (down from NT$10.48 in FY 2024). Revenue: NT$7.36b (down 6.0% from FY 2024). Net income: NT$967.0m (down 4.0% from FY 2024). Profit margin: 13% (in line with FY 2024). 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 16% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Feb 26
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 28% to NT$132. The fair value is estimated to be NT$108, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.3% over the last 3 years. Earnings per share has grown by 9.1%. Reported Earnings • Nov 11
Third quarter 2025 earnings released: EPS: NT$2.64 (vs NT$2.12 in 3Q 2024) Third quarter 2025 results: EPS: NT$2.64 (up from NT$2.12 in 3Q 2024). Revenue: NT$1.70b (down 15% from 3Q 2024). Net income: NT$253.8m (up 25% from 3Q 2024). Profit margin: 15% (up from 10% in 3Q 2024). The increase in margin was driven by lower expenses. 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 13% per year. Reported Earnings • Aug 16
Second quarter 2025 earnings released: EPS: NT$2.11 (vs NT$2.41 in 2Q 2024) Second quarter 2025 results: EPS: NT$2.11 (down from NT$2.41 in 2Q 2024). Revenue: NT$1.83b (flat on 2Q 2024). Net income: NT$202.6m (down 13% from 2Q 2024). Profit margin: 11% (down from 13% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 12% per year. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$2.92 (vs NT$2.62 in 1Q 2024) First quarter 2025 results: EPS: NT$2.92 (up from NT$2.62 in 1Q 2024). Revenue: NT$1.81b (flat on 1Q 2024). Net income: NT$280.5m (up 11% from 1Q 2024). Profit margin: 16% (up from 14% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • May 01
Lumax International Corp., Ltd. to Report Q1, 2025 Results on May 09, 2025 Lumax International Corp., Ltd. announced that they will report Q1, 2025 results on May 09, 2025 Upcoming Dividend • Apr 17
Upcoming dividend of NT$5.50 per share Eligible shareholders must have bought the stock before 24 April 2025. Payment date: 22 May 2025. Payout ratio is a comfortable 52% and the cash payout ratio is 80%. Trailing yield: 5.7%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (4.1%). Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$88.60, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 14x in the Trade Distributors industry in Taiwan. Total returns to shareholders of 26% over the past three years. Reported Earnings • Mar 14
Full year 2024 earnings released: EPS: NT$10.48 (vs NT$8.18 in FY 2023) Full year 2024 results: EPS: NT$10.48 (up from NT$8.18 in FY 2023). Revenue: NT$7.83b (up 16% from FY 2023). Net income: NT$1.01b (up 28% from FY 2023). Profit margin: 13% (up from 12% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Mar 12
Dividend increased to NT$5.50 Dividend of NT$5.50 is 10% higher than last year. Ex-date: 24th April 2025 Payment date: 22nd May 2025 Dividend yield will be 4.9%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (57% earnings payout ratio) and cash flows (60% cash payout ratio). The dividend has increased by an average of 3.0% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: NT$2.12 (vs NT$2.32 in 3Q 2023) Third quarter 2024 results: EPS: NT$2.12 (down from NT$2.32 in 3Q 2023). Revenue: NT$1.99b (up 18% from 3Q 2023). Net income: NT$203.9m (down 8.5% from 3Q 2023). Profit margin: 10% (down from 13% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Tillkännagivande • Nov 02
Lumax International Corp., Ltd. to Report Q3, 2024 Results on Nov 11, 2024 Lumax International Corp., Ltd. announced that they will report Q3, 2024 results on Nov 11, 2024 Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: NT$2.41 (vs NT$2.48 in 2Q 2023) Second quarter 2024 results: EPS: NT$2.41 (down from NT$2.48 in 2Q 2023). Revenue: NT$1.83b (up 3.7% from 2Q 2023). Net income: NT$232.0m (down 2.6% from 2Q 2023). Profit margin: 13% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Tillkännagivande • Aug 02
Lumax International Corp., Ltd. to Report Q2, 2024 Results on Aug 09, 2024 Lumax International Corp., Ltd. announced that they will report Q2, 2024 results on Aug 09, 2024 New Risk • Jun 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 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.4% average weekly change). Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$125, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 17x in the Trade Distributors industry in Taiwan. Total returns to shareholders of 87% over the past three years. Reported Earnings • May 15
First quarter 2024 earnings released: EPS: NT$2.62 (vs NT$1.79 in 1Q 2023) First quarter 2024 results: EPS: NT$2.62 (up from NT$1.79 in 1Q 2023). Revenue: NT$1.80b (up 18% from 1Q 2023). Net income: NT$252.3m (up 47% from 1Q 2023). Profit margin: 14% (up from 11% in 1Q 2023). The increase in margin was driven by higher revenue. 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. Tillkännagivande • May 05
Lumax International Corp., Ltd. to Report Q1, 2024 Results on May 10, 2024 Lumax International Corp., Ltd. announced that they will report Q1, 2024 results on May 10, 2024 Upcoming Dividend • Apr 18
Upcoming dividend of NT$5.00 per share Eligible shareholders must have bought the stock before 25 April 2024. Payment date: 23 May 2024. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (4.6%). Higher than average of industry peers (4.0%). Declared Dividend • Mar 16
Dividend increased to NT$5.00 Dividend of NT$5.00 is 25% higher than last year. Ex-date: 25th April 2024 Payment date: 23rd May 2024 Dividend yield will be 5.1%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (61% earnings payout ratio) and cash flows (68% cash payout ratio). The dividend has increased by an average of 1.5% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 1.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Tillkännagivande • Mar 12
Lumax International Corp., Ltd., Annual General Meeting, Jun 26, 2024 Lumax International Corp., Ltd., Annual General Meeting, Jun 26, 2024. Location: 4F, Building E, No. 19-11, Sanchong Road, Nangang District, Taipei City Taiwan Agenda: To consider 2023 Business Report; to consider 2023 Audit Committee Review Report; to consider report on Employee and Director Compensation for 2023; to consider report on Cash Dividends from Earnings for 2023; to consider Report on Operations and Financial Statements for 2023; to consider distribution of Earnings for 2023; and to consider other matters. Reported Earnings • Mar 12
Full year 2023 earnings released: EPS: NT$8.17 (vs NT$8.68 in FY 2022) Full year 2023 results: EPS: NT$8.17 (down from NT$8.68 in FY 2022). Revenue: NT$6.73b (up 2.8% from FY 2022). Net income: NT$786.0m (down 12% from FY 2022). Profit margin: 12% (down from 14% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 6% per year. Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: NT$2.48 (vs NT$2.15 in 2Q 2022) Second quarter 2023 results: EPS: NT$2.48 (up from NT$2.15 in 2Q 2022). Revenue: NT$1.76b (up 9.0% from 2Q 2022). Net income: NT$238.1m (up 15% from 2Q 2022). Profit margin: 14% (in line with 2Q 2022). 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 3% per year. Upcoming Dividend • Apr 20
Upcoming dividend of NT$4.00 per share at 5.2% yield Eligible shareholders must have bought the stock before 27 April 2023. Payment date: 25 May 2023. Payout ratio is a comfortable 46% but the company is paying out more than the cash it is generating. Trailing yield: 5.2%. Lower than top quartile of Taiwanese dividend payers (5.7%). In line with average of industry peers (4.9%). Reported Earnings • Mar 26
Full year 2022 earnings released: EPS: NT$8.68 (vs NT$8.85 in FY 2021) Full year 2022 results: EPS: NT$8.68. Revenue: NT$6.55b (up 4.4% from FY 2021). Net income: NT$890.5m (up 4.7% from FY 2021). Profit margin: 14% (in line with FY 2021). 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. 5 non-independent directors. Independent Director Iris Chang was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$2.55 (vs NT$2.10 in 3Q 2021) Third quarter 2022 results: EPS: NT$2.55 (up from NT$2.10 in 3Q 2021). Revenue: NT$1.65b (up 3.6% from 3Q 2021). Net income: NT$257.1m (up 28% from 3Q 2021). Profit margin: 16% (up from 13% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Buying Opportunity • Sep 26
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 6.4%. The fair value is estimated to be NT$83.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 4.8%. Upcoming Dividend • Sep 22
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 14 October 2022. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 5.9%. Lower than top quartile of Taiwanese dividend payers (6.7%). In line with average of industry peers (5.8%). Reported Earnings • Aug 13
Second quarter 2022 earnings released: EPS: NT$1.94 (vs NT$2.34 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.94 (down from NT$2.34 in 2Q 2021). Revenue: NT$1.62b (up 6.8% from 2Q 2021). Net income: NT$207.1m (down 17% from 2Q 2021). Profit margin: 13% (down from 17% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$1.97 (vs NT$1.62 in 1Q 2021) First quarter 2022 results: EPS: NT$1.97 (up from NT$1.62 in 1Q 2021). Revenue: NT$1.61b (up 9.6% from 1Q 2021). Net income: NT$210.4m (up 21% from 1Q 2021). Profit margin: 13% (up from 12% 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 2% per year whereas the company’s share price has fallen by 2% per year. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). Supervisor Li Jun Li was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Apr 14
Upcoming dividend of NT$4.00 per share Eligible shareholders must have bought the stock before 21 April 2022. Payment date: 19 May 2022. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 5.3%. Lower than top quartile of Taiwanese dividend payers (5.7%). Higher than average of industry peers (4.2%). Tillkännagivande • Apr 02
Lumax International Corp., Ltd., Annual General Meeting, Jun 23, 2022 Lumax International Corp., Ltd., Annual General Meeting, Jun 23, 2022. Reported Earnings • Nov 09
Third quarter 2021 earnings released: EPS NT$1.89 (vs NT$1.87 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: NT$1.60b (up 3.3% from 3Q 2020). Net income: NT$201.5m (up 1.1% from 3Q 2020). Profit margin: 13% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 3% per year. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$2.34 (vs NT$1.70 in 2Q 2020) The company reported a solid second quarter result with improved earnings and profit margins, although revenues were flat. Second quarter 2021 results: Revenue: NT$1.51b (flat on 2Q 2020). Net income: NT$249.9m (up 38% from 2Q 2020). Profit margin: 17% (up from 12% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 5% per year. Reported Earnings • May 08
First quarter 2021 earnings released: EPS NT$1.62 (vs NT$1.55 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$1.47b (up 6.1% from 1Q 2020). Net income: NT$173.4m (up 4.7% from 1Q 2020). Profit margin: 12% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has increased by 5% per year and the company’s share price has also increased by 5% per year. Upcoming Dividend • Apr 16
Upcoming dividend of NT$3.40 per share Eligible shareholders must have bought the stock before 22 April 2021. Payment date: 21 May 2021. Trailing yield: 4.3%. Lower than top quartile of Taiwanese dividend payers (4.8%). In line with average of industry peers (4.4%). Reported Earnings • Mar 24
Full year 2020 earnings released: EPS NT$6.96 (vs NT$6.72 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: NT$5.93b (down 5.2% from FY 2019). Net income: NT$744.1m (up 3.7% from FY 2019). Profit margin: 13% (up from 12% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 8% per year and the company’s share price has also increased by 8% per year. Is New 90 Day High Low • Feb 23
New 90-day high: NT$71.10 The company is up 6.0% from its price of NT$67.20 on 25 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Trade Distributors industry, which is up 2.0% over the same period. Is New 90 Day High Low • Nov 27
New 90-day high: NT$67.70 The company is up 2.0% from its price of NT$66.10 on 28 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 3.0% over the same period. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS NT$1.87 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$1.55b (down 6.9% from 3Q 2019). Net income: NT$199.3m (up 5.7% from 3Q 2019). Profit margin: 13% (up from 11% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.