New Risk • Aug 05
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 40% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (40% accrual ratio). Minor Risk Dividend is not well covered by cash flows (168% cash payout ratio). Upcoming Dividend • Jul 02
Upcoming dividend of NT$3.00 per share Eligible shareholders must have bought the stock before 09 July 2026. Payment date: 06 August 2026. Payout ratio is a comfortable 65% and the cash payout ratio is 84%. Trailing yield: 5.5%. Within top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (4.4%). Reported Earnings • May 07
First quarter 2026 earnings released: EPS: NT$0.92 (vs NT$0.83 in 1Q 2025) First quarter 2026 results: EPS: NT$0.92 (up from NT$0.83 in 1Q 2025). Revenue: NT$600.0m (up 3.7% from 1Q 2025). Net income: NT$73.8m (up 10% from 1Q 2025). Profit margin: 12% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Feb 26
Hanpin Electron Co., Ltd., Annual General Meeting, Jun 24, 2026 Hanpin Electron Co., Ltd., Annual General Meeting, Jun 24, 2026, at 09:00 Taipei Standard Time. Location: 6 floor no,256, sec.3 chung cheng rd., rende district, tainan city Taiwan Reported Earnings • Feb 26
Full year 2025 earnings released: EPS: NT$4.56 (vs NT$5.24 in FY 2024) Full year 2025 results: EPS: NT$4.56 (down from NT$5.24 in FY 2024). Revenue: NT$2.88b (down 9.3% from FY 2024). Net income: NT$364.6m (down 13% from FY 2024). Profit margin: 13% (in line with FY 2024). 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 • Nov 09
Third quarter 2025 earnings released: EPS: NT$1.63 (vs NT$1.66 in 3Q 2024) Third quarter 2025 results: EPS: NT$1.63 (down from NT$1.66 in 3Q 2024). Revenue: NT$849.7m (down 15% from 3Q 2024). Net income: NT$130.5m (down 1.5% from 3Q 2024). Profit margin: 15% (up from 13% 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 12% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 10
Upcoming dividend of NT$3.20 per share Eligible shareholders must have bought the stock before 17 September 2025. Payment date: 17 October 2025. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 6.5%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (4.2%). Reported Earnings • Aug 11
Second quarter 2025 earnings released: EPS: NT$1.06 (vs NT$1.39 in 2Q 2024) Second quarter 2025 results: EPS: NT$1.06 (down from NT$1.39 in 2Q 2024). Revenue: NT$719.5m (up 2.7% from 2Q 2024). Net income: NT$85.0m (down 24% from 2Q 2024). Profit margin: 12% (down from 16% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 16% per year. Declared Dividend • Jun 25
Dividend increased to NT$3.20 Dividend of NT$3.20 is 14% higher than last year. Ex-date: 17th September 2025 Payment date: 17th October 2025 Dividend yield will be 7.0%, which is higher than the industry average of 4.1%. Sustainability & Growth Dividend is covered by both earnings (60% earnings payout ratio) and cash flows (38% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 16% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Tillkännagivande • Jun 21
Hanpin Electron Co., Ltd. Announces Cash Dividend, Payable on October 17, 2025 Hanpin Electron Co., Ltd. announced cash dividend of TWD 3.2 per share. Ex-rights (ex-dividend) trading date is September 17, 2025. Ex-rights (ex-dividend) record date is September 23, 2025. Payment date of common stock cash dividend distribution is October 17, 2025. Reported Earnings • May 12
First quarter 2025 earnings released: EPS: NT$0.84 (vs NT$0.74 in 1Q 2024) First quarter 2025 results: EPS: NT$0.84 (up from NT$0.74 in 1Q 2024). Revenue: NT$578.5m (up 36% from 1Q 2024). Net income: NT$66.8m (up 13% from 1Q 2024). Profit margin: 12% (down from 14% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year and the company’s share price has also increased by 24% per year. Tillkännagivande • Apr 27
Hanpin Electron Co., Ltd. to Report Q1, 2025 Results on May 09, 2025 Hanpin Electron Co., Ltd. announced that they will report Q1, 2025 results on May 09, 2025 New Risk • Apr 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.16b (US$96.1m) 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (NT$3.16b market cap, or US$96.1m). Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$43.05, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 14x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 92% over the past three years. Tillkännagivande • Feb 24
Hanpin Electron Co., Ltd., Annual General Meeting, Jun 20, 2025 Hanpin Electron Co., Ltd., Annual General Meeting, Jun 20, 2025, at 09:00 Taipei Standard Time. Location: 6 floor no,256, sec.3 chung cheng rd., rende district, tainan city Taiwan Reported Earnings • Feb 23
Full year 2024 earnings released: EPS: NT$5.24 (vs NT$4.39 in FY 2023) Full year 2024 results: EPS: NT$5.24 (up from NT$4.39 in FY 2023). Revenue: NT$3.18b (up 29% from FY 2023). Net income: NT$419.1m (up 19% from FY 2023). Profit margin: 13% (down from 14% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 29% per year whereas the company’s share price has increased by 31% per year. Tillkännagivande • Feb 22
Hanpin Electron Co., Ltd. Announces Cash Dividend for the Period from January 1, 2024 to December 31, 2024 Hanpin Electron Co., Ltd. announced cash dividend of TWD 3.2 per share for the period from January 1, 2024 to December 31, 2024. Total amount of cash distributed to shareholders: TWD 255,998,186. Tillkännagivande • Feb 13
Hanpin Electron Co., Ltd. to Report Fiscal Year 2024 Results on Feb 21, 2025 Hanpin Electron Co., Ltd. announced that they will report fiscal year 2024 results on Feb 21, 2025 New Risk • Dec 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Nov 05
Third quarter 2024 earnings released: EPS: NT$1.66 (vs NT$1.92 in 3Q 2023) Third quarter 2024 results: EPS: NT$1.66 (down from NT$1.92 in 3Q 2023). Revenue: NT$998.3m (up 15% from 3Q 2023). Net income: NT$132.4m (down 14% from 3Q 2023). Profit margin: 13% (down from 18% in 3Q 2023). The decrease in margin was driven by higher expenses. 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 20% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Oct 26
Hanpin Electron Co., Ltd. to Report Q3, 2024 Results on Nov 04, 2024 Hanpin Electron Co., Ltd. announced that they will report Q3, 2024 results on Nov 04, 2024 Upcoming Dividend • Sep 17
Upcoming dividend of NT$2.80 per share Eligible shareholders must have bought the stock before 24 September 2024. Payment date: 25 October 2024. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 5.3%. Within top quartile of Taiwanese dividend payers (4.3%). Higher than average of industry peers (3.1%). Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: NT$1.39 (vs NT$1.12 in 2Q 2023) Second quarter 2024 results: EPS: NT$1.39 (up from NT$1.12 in 2Q 2023). Revenue: NT$700.8m (up 7.6% from 2Q 2023). Net income: NT$111.1m (up 25% from 2Q 2023). Profit margin: 16% (up from 14% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Jul 27
Hanpin Electron Co., Ltd. to Report Q2, 2024 Results on Aug 05, 2024 Hanpin Electron Co., Ltd. announced that they will report Q2, 2024 results on Aug 05, 2024 Declared Dividend • Jun 24
Dividend increased to NT$2.80 Dividend of NT$2.80 is 12% higher than last year. Ex-date: 24th September 2024 Payment date: 25th October 2024 Dividend yield will be 6.0%, which is higher than the industry average of 4.1%. Sustainability & Growth Dividend is covered by both earnings (60% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has increased by an average of 3.4% 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 • May 08
First quarter 2024 earnings released: EPS: NT$0.74 (vs NT$0.47 in 1Q 2023) First quarter 2024 results: EPS: NT$0.74 (up from NT$0.47 in 1Q 2023). Revenue: NT$426.8m (up 39% from 1Q 2023). Net income: NT$58.9m (up 56% from 1Q 2023). Profit margin: 14% (up from 12% 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 29% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Apr 28
Hanpin Electron Co., Ltd. to Report Q1, 2024 Results on May 06, 2024 Hanpin Electron Co., Ltd. announced that they will report Q1, 2024 results on May 06, 2024 Reported Earnings • Feb 27
Full year 2023 earnings released: EPS: NT$4.39 (vs NT$3.86 in FY 2022) Full year 2023 results: EPS: NT$4.39 (up from NT$3.86 in FY 2022). Revenue: NT$2.46b (down 20% from FY 2022). Net income: NT$351.1m (up 14% from FY 2022). Profit margin: 14% (up from 10.0% in FY 2022). The increase in margin was driven by lower expenses. 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 12% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Feb 24
Hanpin Electron Co., Ltd., Annual General Meeting, Jun 21, 2024 Hanpin Electron Co., Ltd., Annual General Meeting, Jun 21, 2024. Location: Hanpin Production Building Zhongzheng Road Taiwan Agenda: To consider 2023 Business Report; to consider Audit Committee¡¦s Review Report on 2023 Financial Statements; to consider 2023 Distribution of Remuneration to Employee and Directors; to consider 2023 Business Report and Consolidated and Parent Company Only Financial Statements; to consider 2023 Earnings Distribution; and to consider other matters. New Risk • Nov 07
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 6.2% 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 1.8% per year over the past 5 years. 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 (6.2% average weekly change). Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$44.10, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 15x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 80% over the past three years. Upcoming Dividend • Sep 06
Upcoming dividend of NT$2.50 per share at 6.4% yield Eligible shareholders must have bought the stock before 13 September 2023. Payment date: 18 October 2023. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 6.4%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.5%). Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$1.12 (vs NT$0.91 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.12 (up from NT$0.91 in 2Q 2022). Revenue: NT$651.1m (down 26% from 2Q 2022). Net income: NT$89.2m (up 22% from 2Q 2022). Profit margin: 14% (up from 8.3% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 11
First quarter 2023 earnings released: EPS: NT$0.47 (vs NT$0.40 in 1Q 2022) First quarter 2023 results: EPS: NT$0.47 (up from NT$0.40 in 1Q 2022). Revenue: NT$307.6m (down 37% from 1Q 2022). Net income: NT$37.9m (up 19% from 1Q 2022). Profit margin: 12% (up from 6.5% in 1Q 2022). The increase in margin was driven by lower expenses. 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 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 04
Full year 2022 earnings released: EPS: NT$3.86 (vs NT$1.79 in FY 2021) Full year 2022 results: EPS: NT$3.86 (up from NT$1.79 in FY 2021). Revenue: NT$3.09b (up 24% from FY 2021). Net income: NT$308.7m (up 115% from FY 2021). Profit margin: 10.0% (up from 5.8% 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 3% per year whereas the company’s share price has remained flat. Reported Earnings • Nov 10
Third quarter 2022 earnings released: EPS: NT$1.79 (vs NT$0.34 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.79 (up from NT$0.34 in 3Q 2021). Revenue: NT$1.02b (up 69% from 3Q 2021). Net income: NT$143.0m (up 429% from 3Q 2021). Profit margin: 14% (up from 4.5% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 14
Upcoming dividend of NT$1.20 per share Eligible shareholders must have bought the stock before 21 September 2022. Payment date: 21 October 2022. Payout ratio is a comfortable 54% but the company is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (6.5%). Lower than average of industry peers (4.8%). Reported Earnings • Aug 07
Second quarter 2022 earnings released: EPS: NT$0.91 (vs NT$0.55 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.91 (up from NT$0.55 in 2Q 2021). Revenue: NT$881.8m (up 35% from 2Q 2021). Net income: NT$72.9m (up 66% from 2Q 2021). Profit margin: 8.3% (up from 6.7% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Reported Earnings • May 08
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: NT$0.40 (up from NT$0.34 in 1Q 2021). Revenue: NT$488.4m (down 3.4% from 1Q 2021). Net income: NT$31.8m (up 17% from 1Q 2021). Profit margin: 6.5% (up from 5.4% in 1Q 2021). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 8.3%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 28
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: NT$1.79 (down from NT$2.27 in FY 2020). Revenue: NT$2.49b (up 28% from FY 2020). Net income: NT$143.3m (down 21% from FY 2020). Profit margin: 5.8% (down from 9.4% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 8.3%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS NT$0.34 (vs NT$0.90 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$605.1m (down 5.0% from 3Q 2020). Net income: NT$27.0m (down 62% from 3Q 2020). Profit margin: 4.5% (down from 11% in 3Q 2020). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 15
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 22 September 2021. Payment date: 27 October 2021. Trailing yield: 5.1%. Lower than top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (4.0%). Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$0.55 (vs NT$1.05 in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$655.2m (up 57% from 2Q 2020). Net income: NT$43.8m (down 48% from 2Q 2020). Profit margin: 6.7% (down from 20% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • May 09
First quarter 2021 earnings released: EPS NT$0.34 (vs NT$0.29 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$505.4m (up 160% from 1Q 2020). Net income: NT$27.3m (up NT$50.8m from 1Q 2020). Profit margin: 5.4% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 15
New 90-day high: NT$31.90 The company is up 4.0% from a price of NT$30.70 on 15 December 2020. Underperformed the Taiwanese market, which is up 14% over the last 90 days. Lagged the Consumer Durables industry, which is up 13% over the same period. Reported Earnings • Mar 01
Full year 2020 earnings released: EPS NT$2.27 (vs NT$3.50 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.94b (down 24% from FY 2019). Net income: NT$181.6m (down 35% from FY 2019). Profit margin: 9.4% (down from 11% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Tillkännagivande • Feb 27
Hanpin Electron Co., Ltd., Annual General Meeting, Jun 25, 2021 Hanpin Electron Co., Ltd., Annual General Meeting, Jun 25, 2021. Location: Hanpin's Production Building,6F NO.256 SEC.3, CHUNG CHENG ROAD,JEN TEH DISTRICT Tainan City Taiwan Agenda: To consider 2020 Business Report; to consider Audit Committee's report of the 2020 audited financial reports; to consider 2020 distributable compensation for employees and directors; to consider The Company's 2020 Business Report with Consolidated and Separate Financial Statements; and to consider other matters. Reported Earnings • Nov 05
Third quarter 2020 earnings released: EPS NT$0.90 The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2020 results: Revenue: NT$636.6m (down 22% from 3Q 2019). Net income: NT$71.7m (down 12% from 3Q 2019). Profit margin: 11% (up from 10.0% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 3% per year. Is New 90 Day High Low • Sep 25
New 90-day low: NT$27.80 The company is down 3.0% from its price of NT$28.60 on 24 June 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 2.0% over the same period.