Reported Earnings • May 14
First quarter 2026 earnings released: EPS: NT$0.36 (vs NT$0.41 in 1Q 2025) First quarter 2026 results: EPS: NT$0.36 (down from NT$0.41 in 1Q 2025). Revenue: NT$461.5m (up 6.0% from 1Q 2025). Net income: NT$31.4m (down 11% from 1Q 2025). Profit margin: 6.8% (down from 8.1% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 11
Full year 2025 earnings released: EPS: NT$0.27 (vs NT$1.07 in FY 2024) Full year 2025 results: EPS: NT$0.27 (down from NT$1.07 in FY 2024). Revenue: NT$1.42b (down 4.1% from FY 2024). Net income: NT$23.0m (down 75% from FY 2024). Profit margin: 1.6% (down from 6.2% in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Tillkännagivande • Mar 10
Huikwang Corporation, Annual General Meeting, Jun 25, 2026 Huikwang Corporation, Annual General Meeting, Jun 25, 2026. Location: 3 floor no,259, sec.1 ma chia rd., madou district, tainan city Taiwan Reported Earnings • Nov 08
Third quarter 2025 earnings released: EPS: NT$0.14 (vs NT$0.059 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.14 (up from NT$0.059 in 3Q 2024). Revenue: NT$256.9m (down 13% from 3Q 2024). Net income: NT$12.0m (up 137% from 3Q 2024). Profit margin: 4.7% (up from 1.7% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 17
Second quarter 2025 earnings released: NT$0.28 loss per share (vs NT$0.46 profit in 2Q 2024) Second quarter 2025 results: NT$0.28 loss per share (down from NT$0.46 profit in 2Q 2024). Revenue: NT$547.4m (up 19% from 2Q 2024). Net loss: NT$24.4m (down 162% from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 45 percentage points per year, which is a significant difference in performance. Declared Dividend • Jun 26
Dividend of NT$1.00 announced Dividend of NT$1.00 is the same as last year. Ex-date: 9th July 2025 Payment date: 1st August 2025 Dividend yield will be 3.7%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is not covered by earnings (102% earnings payout ratio). However, it is covered by cash flows (80% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 13% to bring the payout ratio under control. However, EPS has declined by 20% over the last 5 years so the company would need to reverse this trend. Reported Earnings • May 07
First quarter 2025 earnings released: EPS: NT$0.41 (vs NT$0.49 in 1Q 2024) First quarter 2025 results: EPS: NT$0.41 (down from NT$0.49 in 1Q 2024). Revenue: NT$435.4m (flat on 1Q 2024). Net income: NT$35.3m (down 18% from 1Q 2024). Profit margin: 8.1% (down from 9.9% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Tillkännagivande • Apr 29
Huikwang Corporation to Report Q1, 2025 Results on May 06, 2025 Huikwang Corporation announced that they will report Q1, 2025 results on May 06, 2025 Reported Earnings • Mar 18
Full year 2024 earnings released: EPS: NT$1.07 (vs NT$1.05 in FY 2023) Full year 2024 results: EPS: NT$1.07 (up from NT$1.05 in FY 2023). Revenue: NT$1.48b (down 2.8% from FY 2023). Net income: NT$92.6m (up 1.8% from FY 2023). Profit margin: 6.2% (up from 6.0% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Tillkännagivande • Mar 14
Huikwang Corporation, Annual General Meeting, Jun 24, 2025 Huikwang Corporation, Annual General Meeting, Jun 24, 2025. Location: 3 floor no,259, sec.1 ma chia rd., madou district, tainan city Taiwan Tillkännagivande • Mar 06
Huikwang Corporation to Report Q4, 2024 Results on Mar 13, 2025 Huikwang Corporation announced that they will report Q4, 2024 results on Mar 13, 2025 New Risk • Mar 03
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. 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: Major Risk Earnings have declined by 7.8% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (6.6% net profit margin). Market cap is less than US$100m (NT$2.60b market cap, or US$79.1m). Tillkännagivande • Nov 05
Huikwang Corporation to Report Q3, 2024 Results on Nov 12, 2024 Huikwang Corporation announced that they will report Q3, 2024 results on Nov 12, 2024 Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: NT$0.46 (vs NT$0.39 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.46 (up from NT$0.39 in 2Q 2023). Revenue: NT$459.7m (up 13% from 2Q 2023). Net income: NT$39.6m (up 16% from 2Q 2023). Profit margin: 8.6% (up from 8.4% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Declared Dividend • Jun 27
Dividend reduced to NT$1.00 Dividend of NT$1.00 is 63% lower than last year. Ex-date: 9th July 2024 Payment date: 31st July 2024 Dividend yield will be 3.0%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (89% earnings payout ratio) and cash flows (55% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share declined by 16% over the last 5 years, which if continued should see the payout ratio increase to a potentially unsustainable range. Reported Earnings • May 11
First quarter 2024 earnings released: EPS: NT$0.50 (vs NT$0.43 in 1Q 2023) First quarter 2024 results: EPS: NT$0.50 (up from NT$0.43 in 1Q 2023). Revenue: NT$432.8m (down 7.9% from 1Q 2023). Net income: NT$42.8m (up 17% from 1Q 2023). Profit margin: 9.9% (up from 7.8% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Tillkännagivande • May 01
Huikwang Corporation to Report Q1, 2024 Results on May 07, 2024 Huikwang Corporation announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 07, 2024 Reported Earnings • Mar 21
Full year 2023 earnings released: EPS: NT$1.05 (vs NT$3.66 in FY 2022) Full year 2023 results: EPS: NT$1.05 (down from NT$3.66 in FY 2022). Revenue: NT$1.53b (down 39% from FY 2022). Net income: NT$90.9m (down 71% from FY 2022). Profit margin: 6.0% (down from 13% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Tillkännagivande • Mar 16
Huikwang Corporation, Annual General Meeting, Jun 24, 2024 Huikwang Corporation, Annual General Meeting, Jun 24, 2024. Buying Opportunity • Dec 13
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 2.6%. The fair value is estimated to be NT$42.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years, while earnings per share has been flat. New Risk • Nov 18
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: 6.9% Last year net profit margin: 13% 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 Dividend is not well covered by earnings (218% payout ratio). Profit margins are more than 30% lower than last year (6.9% net profit margin). Market cap is less than US$100m (NT$2.96b market cap, or US$93.1m). Buying Opportunity • Oct 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 7.6%. The fair value is estimated to be NT$42.09, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.4% over the last 3 years. Earnings per share has grown by 9.1%. Buying Opportunity • Oct 04
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 10.0%. The fair value is estimated to be NT$42.46, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.4% over the last 3 years. Earnings per share has grown by 9.1%. Buying Opportunity • Aug 14
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be NT$42.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.4% over the last 3 years. Earnings per share has grown by 9.1%. Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: NT$0.39 (vs NT$1.24 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.39 (down from NT$1.24 in 2Q 2022). Revenue: NT$406.9m (down 49% from 2Q 2022). Net income: NT$34.1m (down 68% from 2Q 2022). Profit margin: 8.4% (down from 14% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. New Risk • Jul 21
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.07b (US$98.1m) 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. Profit margins are more than 30% lower than last year (11% net profit margin). Market cap is less than US$100m (NT$3.07b market cap, or US$98.1m). Upcoming Dividend • Jul 13
Upcoming dividend of NT$2.69 per share at 7.2% yield Eligible shareholders must have bought the stock before 20 July 2023. Payment date: 10 August 2023. Payout ratio is on the higher end at 89%, however this is supported by cash flows. Trailing yield: 7.2%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.8%). Tillkännagivande • Jul 06
Huikwang Corporation Announces Cash Dividend, Payable on August 10, 2023 Huikwang Corporation announced a cash dividend of TWD 2.68509558 per share or TWD 232,365,121. Ex-rights (ex-dividend) trading date is July 20, 2023. Ex-rights (ex-dividend) record date is July 26, 2023. The payment date of cash dividend distribution is August 10, 2023. Reported Earnings • Apr 01
Full year 2022 earnings released: EPS: NT$3.66 (vs NT$3.85 in FY 2021) Full year 2022 results: EPS: NT$3.66 (down from NT$3.85 in FY 2021). Revenue: NT$2.49b (up 19% from FY 2021). Net income: NT$314.5m (down 4.4% from FY 2021). Profit margin: 13% (down from 16% 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 17% per year whereas the company’s share price has increased by 13% per year. Buying Opportunity • Dec 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 20%. The fair value is estimated to be NT$48.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years. Earnings per share has grown by 16%. Reported Earnings • Nov 10
Third quarter 2022 earnings released: EPS: NT$1.40 (vs NT$0.39 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.40 (up from NT$0.39 in 3Q 2021). Revenue: NT$798.5m (up 63% from 3Q 2021). Net income: NT$120.9m (up 263% from 3Q 2021). Profit margin: 15% (up from 6.8% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$35.20, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 12x in the Chemicals industry in Taiwan. Total returns to shareholders of 38% over the past three years. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 19% share price decline to NT$38.00, the stock trades at a trailing P/E ratio of 12.1x. Average trailing P/E is 14x in the Chemicals industry in Taiwan. Total returns to shareholders of 54% over the past three years. Buying Opportunity • Sep 26
Now 22% undervalued Over the last 90 days, the stock is up 17%. The fair value is estimated to be NT$58.25, 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 13%. Upcoming Dividend • Sep 20
Upcoming dividend of NT$2.99 per share Eligible shareholders must have bought the stock before 27 September 2022. Payment date: 21 October 2022. Payout ratio is on the higher end at 95% but the company is not cash flow positive. Trailing yield: 6.2%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (8.1%). Buying Opportunity • Aug 20
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be NT$57.53, 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 13%. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$1.24 (vs NT$2.34 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.24 (down from NT$2.34 in 2Q 2021). Revenue: NT$793.3m (up 41% from 2Q 2021). Net income: NT$106.9m (down 47% from 2Q 2021). Profit margin: 14% (down from 36% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 15% per year. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$1.06 (vs NT$0.67 in 1Q 2021) First quarter 2022 results: EPS: NT$1.06 (up from NT$0.67 in 1Q 2021). Revenue: NT$632.7m (up 20% from 1Q 2021). Net income: NT$91.0m (up 60% from 1Q 2021). Profit margin: 14% (up from 11% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 18% per year. Buying Opportunity • May 12
Now 23% undervalued Over the last 90 days, the stock is up 35%. The fair value is estimated to be NT$58.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.2% over the last 3 years. Earnings per share has grown by 10%. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$49.15, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 18x in the Chemicals industry in Taiwan. Total returns to shareholders of 100% over the past three years. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improved over the past week After last week's 20% share price gain to NT$53.90, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 18x in the Chemicals industry in Taiwan. Total returns to shareholders of 125% over the past three years. Tillkännagivande • Apr 02
Huikwang Corporation, Annual General Meeting, Jun 22, 2022 Huikwang Corporation, Annual General Meeting, Jun 22, 2022. Reported Earnings • Mar 31
Full year 2021 earnings released: EPS: NT$3.85 (vs NT$2.22 in FY 2020) Full year 2021 results: EPS: NT$3.85 (up from NT$2.22 in FY 2020). Revenue: NT$2.09b (up 14% from FY 2020). Net income: NT$329.1m (up 74% from FY 2020). Profit margin: 16% (up from 10% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 14% per year. Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment improved over the past week After last week's 26% share price gain to NT$44.30, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 18x in the Chemicals industry in Taiwan. Total returns to shareholders of 84% over the past three years. Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS NT$0.39 (vs NT$0.39 in 3Q 2020) The company reported a mediocre third quarter result with weaker profit margins, although earnings were flat and revenues improved. Third quarter 2021 results: Revenue: NT$488.8m (up 26% from 3Q 2020). Net income: NT$33.3m (flat on 3Q 2020). Profit margin: 6.8% (down from 8.6% in 3Q 2020). The decrease in margin was driven by higher 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 8% per year. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment improved over the past week After last week's 22% share price gain to NT$39.30, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 17x in the Chemicals industry in Taiwan. Total returns to shareholders of 81% over the past three years. Upcoming Dividend • Aug 19
Upcoming dividend of NT$1.59 per share Eligible shareholders must have bought the stock before 26 August 2021. Payment date: 17 September 2021. Trailing yield: 5.2%. Within top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (2.9%). Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS NT$2.34 (vs NT$0.71 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$562.9m (up 3.7% from 2Q 2020). Net income: NT$200.5m (up 230% from 2Q 2020). Profit margin: 36% (up from 11% in 2Q 2020). The increase in margin was primarily driven by lower expenses. 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 3% per year. Reported Earnings • May 14
First quarter 2021 earnings released: EPS NT$0.67 (vs NT$1.05 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$525.5m (down 13% from 1Q 2020). Net income: NT$57.0m (down 36% from 1Q 2020). Profit margin: 11% (down from 15% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 4% per year. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS NT$2.22 (vs NT$2.67 in FY 2019) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$1.84b (down 12% from FY 2019). Net income: NT$189.2m (down 16% from FY 2019). Profit margin: 10% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Mar 10
New 90-day high: NT$31.00 The company is up 1.0% from its price of NT$30.65 on 10 December 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 11% over the same period. Is New 90 Day High Low • Dec 09
New 90-day high: NT$30.90 The company is up 4.0% from its price of NT$29.60 on 11 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 10.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.39 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$387.5m (down 25% from 3Q 2019). Net income: NT$33.3m (down 44% from 3Q 2019). Profit margin: 8.6% (down from 11% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.