Reported Earnings • May 16
First quarter 2026 earnings released: NT$0.10 loss per share (vs NT$0.068 loss in 1Q 2025) First quarter 2026 results: NT$0.10 loss per share (further deteriorated from NT$0.068 loss in 1Q 2025). Net loss: NT$17.8m (loss widened 53% from 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 18
Full year 2025 earnings released: NT$0.23 loss per share (vs NT$0.56 loss in FY 2024) Full year 2025 results: NT$0.23 loss per share (improved from NT$0.56 loss in FY 2024). Net loss: NT$40.2m (loss narrowed 22% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. New Risk • Mar 18
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -NT$1.4b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-NT$1.4b free cash flow). Earnings have declined by 27% per year over the past 5 years. Revenue is less than US$1m (NT$234k revenue, or US$7.3k). Tillkännagivande • Mar 05
Rich Circle Development Co., Ltd., Annual General Meeting, May 21, 2026 Rich Circle Development Co., Ltd., Annual General Meeting, May 21, 2026. Location: 1 floor no,461, hsing shan rd., neihu district, taipei city Taiwan Reported Earnings • Nov 15
Third quarter 2025 earnings released: NT$0.04 loss per share (vs NT$0.14 loss in 3Q 2024) Third quarter 2025 results: NT$0.04 loss per share (improved from NT$0.14 loss in 3Q 2024). Net loss: NT$7.49m (loss narrowed 36% from 3Q 2024). 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 10% per year, which means it is well ahead of earnings. New Risk • Aug 17
New major risk - Revenue and earnings growth Earnings have declined by 9.3% 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 Risks Earnings have declined by 9.3% per year over the past 5 years. Shareholders have been substantially diluted in the past year (70% increase in shares outstanding). Revenue is less than US$1m (NT$1.3m revenue, or US$44k). New Risk • May 15
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -NT$2.0b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-NT$2.0b free cash flow). Shareholders have been substantially diluted in the past year (70% increase in shares outstanding). Revenue is less than US$1m (NT$2.3m revenue, or US$78k). Reported Earnings • May 15
First quarter 2025 earnings released: NT$0.07 loss per share (vs NT$0.16 loss in 1Q 2024) First quarter 2025 results: NT$0.07 loss per share. Net loss: NT$11.7m (loss widened 51% from 1Q 2024). Tillkännagivande • May 01
Rich Circle Development Co., Ltd. to Report Q1, 2025 Results on May 09, 2025 Rich Circle Development Co., Ltd. announced that they will report Q1, 2025 results on May 09, 2025 Reported Earnings • Mar 21
Full year 2024 earnings released: NT$0.56 loss per share (vs NT$2.37 profit in FY 2023) Full year 2024 results: NT$0.56 loss per share (down from NT$2.37 profit in FY 2023). Net loss: NT$51.3m (down 190% from profit in FY 2023). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Mar 10
Rich Circle Development Co., Ltd., Annual General Meeting, Jun 26, 2025 Rich Circle Development Co., Ltd., Annual General Meeting, Jun 26, 2025. Location: 1 floor no,461, hsing shan rd., neihu district, taipei city Taiwan Tillkännagivande • Mar 08
Rich Circle Development Co., Ltd. announced a financing transaction Rich Circle Development Co., Ltd. announced a private placement of common shares or domestic convertible bonds on March 7, 2025. The transaction has been approved by the board of directors of the company. Tillkännagivande • Feb 28
Rich Circle Development Co., Ltd. to Report Fiscal Year 2024 Results on Mar 07, 2025 Rich Circle Development Co., Ltd. announced that they will report fiscal year 2024 results on Mar 07, 2025 Reported Earnings • Nov 19
Third quarter 2024 earnings released: NT$0.14 loss per share (vs NT$0.38 loss in 3Q 2023) Third quarter 2024 results: NT$0.14 loss per share. Net loss: NT$11.6m (loss widened 37% from 3Q 2023). Reported Earnings • Aug 17
Second quarter 2024 earnings released: NT$0.11 loss per share (vs NT$3.67 profit in 2Q 2023) Second quarter 2024 results: NT$0.11 loss per share (down from NT$3.67 profit in 2Q 2023). Net loss: NT$7.91m (down 110% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. New Risk • May 30
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 345% This is considered a major 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 High level of non-cash earnings (145% accrual ratio). Shareholders have been substantially diluted in the past year (345% increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (7.8% average weekly change). Reported Earnings • May 19
First quarter 2024 earnings released: NT$0.16 loss per share (vs NT$0.30 loss in 1Q 2023) First quarter 2024 results: NT$0.16 loss per share. Revenue: NT$60.0k (up 25% from 1Q 2023). Net loss: NT$7.73m (loss widened 14% from 1Q 2023). Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$57.00, the stock trades at a trailing P/E ratio of 32.6x. Average trailing P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 70% over the past three years. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$54.70, the stock trades at a trailing P/E ratio of 31.3x. Average trailing P/E is 31x in the Semiconductor industry in Taiwan. Total returns to shareholders of 59% over the past three years. New Risk • Mar 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 44% 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 Risk High level of non-cash earnings (92% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Shareholders have been diluted in the past year (44% increase in shares outstanding). Market cap is less than US$100m (NT$1.52b market cap, or US$47.6m). Tillkännagivande • Mar 22
Rich Circle Development Co., Ltd., Annual General Meeting, Jun 26, 2024 Rich Circle Development Co., Ltd., Annual General Meeting, Jun 26, 2024. Reported Earnings • Mar 20
Full year 2023 earnings released: EPS: NT$2.37 (vs NT$0.85 loss in FY 2022) Full year 2023 results: EPS: NT$2.37 (up from NT$0.85 loss in FY 2022). Revenue: NT$254.8m (up NT$251.1m from FY 2022). Net income: NT$57.0m (up NT$76.3m from FY 2022). Profit margin: 22% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$43.30, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 28x in the Semiconductor industry in Taiwan. Total returns to shareholders of 22% over the past three years. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$31.15, the stock trades at a trailing P/E ratio of 11.8x. Average trailing P/E is 27x in the Semiconductor industry in Taiwan. Total loss to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • Nov 23
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$30.35, the stock trades at a trailing P/E ratio of 11x. Average trailing P/E is 26x in the Semiconductor industry in Taiwan. Total loss to shareholders of 9.7% over the past three years. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$36.90, the stock trades at a trailing P/E ratio of 13.3x. Average trailing P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 8.8% over the past three years. Reported Earnings • Aug 18
Second quarter 2023 earnings released: EPS: NT$3.67 (vs NT$0.11 loss in 2Q 2022) Second quarter 2023 results: EPS: NT$3.67 (up from NT$0.11 loss in 2Q 2022). Revenue: NT$253.4m (up NT$251.9m from 2Q 2022). Net income: NT$83.1m (up NT$85.6m from 2Q 2022). Profit margin: 33% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 19
Full year 2022 earnings released: NT$0.85 loss per share (vs NT$0.14 loss in FY 2021) Full year 2022 results: NT$0.85 loss per share (further deteriorated from NT$0.14 loss in FY 2021). Net loss: NT$19.3m (loss widened NT$16.3m from FY 2021). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 20
Third quarter 2022 earnings released: NT$0.25 loss per share (vs NT$0.003 loss in 3Q 2021) Third quarter 2022 results: NT$0.25 loss per share (further deteriorated from NT$0.003 loss in 3Q 2021). Net loss: NT$5.73m (loss widened NT$5.66m from 3Q 2021). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 15
Second quarter 2022 earnings released: NT$0.11 loss per share (vs NT$0.19 loss in 2Q 2021) Second quarter 2022 results: NT$0.11 loss per share (up from NT$0.19 loss in 2Q 2021). Net loss: NT$2.49m (loss narrowed 39% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 30
Full year 2021 earnings released: NT$0.14 loss per share (vs NT$1.20 loss in FY 2020) Full year 2021 results: NT$0.14 loss per share (up from NT$1.20 loss in FY 2020). Net loss: NT$3.00m (loss narrowed 69% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 15
Third quarter 2021 earnings released: NT$0.01 loss per share (vs NT$0.69 loss in 3Q 2020) The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2021 results: Revenue: NT$4.90m (down 52% from 3Q 2020). Net loss: NT$70.0k (loss narrowed 99% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • May 16
First quarter 2021 earnings released: EPS NT$0.23 (vs NT$0.31 loss in 1Q 2020) First quarter 2021 results: Net income: NT$4.39m (up NT$6.91m from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 30
Full year 2020 earnings released: NT$1.20 loss per share (vs NT$2.62 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: NT$34.1m (up 62% from FY 2019). Net loss: NT$9.79m (loss narrowed 54% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 45% 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. Is New 90 Day High Low • Jan 18
New 90-day high: NT$37.95 The company is up 19% from its price of NT$31.93 on 21 October 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 32% over the same period. Is New 90 Day High Low • Dec 17
New 90-day high: NT$37.80 The company is up 18% from its price of NT$31.93 on 16 September 2020. The Taiwanese market is up 10.0% 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 • Dec 01
New 90-day high: NT$36.14 The company is up 7.0% from its price of NT$33.91 on 01 September 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 14% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: NT$0.28 loss per share The company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: NT$10.2m (up 160% from 3Q 2019). Net loss: NT$5.61m (loss narrowed 32% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 19% per year. Is New 90 Day High Low • Nov 14
New 90-day low: NT$12.05 The company is down 12% from its price of NT$13.70 on 14 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 7.0% over the same period. Is New 90 Day High Low • Oct 13
New 90-day low: NT$12.10 The company is down 16% from its price of NT$14.35 on 14 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 20% over the same period.