Reported Earnings • May 05
First quarter 2026 earnings released: EPS: NT$0.13 (vs NT$0.09 loss in 1Q 2025) First quarter 2026 results: EPS: NT$0.13 (up from NT$0.09 loss in 1Q 2025). Revenue: NT$196.3m (up 21% from 1Q 2025). Net income: NT$12.3m (up NT$21.2m from 1Q 2025). Profit margin: 6.3% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. New Risk • Apr 28
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 9.0% 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 33% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (9.0% average weekly change). Reported Earnings • Feb 25
Full year 2025 earnings released: NT$0.60 loss per share (vs NT$1.38 loss in FY 2024) Full year 2025 results: NT$0.60 loss per share (improved from NT$1.38 loss in FY 2024). Revenue: NT$661.1m (up 2.7% from FY 2024). Net loss: NT$58.2m (loss narrowed 49% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 62% 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. Tillkännagivande • Feb 13
IC Plus Corp., Annual General Meeting, May 25, 2026 IC Plus Corp., Annual General Meeting, May 25, 2026. Location: 2 floor no,1, kung yeh tung 2nd rd., hsinchu science park, hsinchu city Taiwan Tillkännagivande • Jan 31
IC Plus Corp. Announces Change of Representative for Corporate Director, Effective January 30, 2026 IC Plus Corp. announced a change of representative for the company's corporate director. Mr. Shiu-Fenu Ho, who previously held the position of Chief Technical Advisor at MediaTek Inc., has been replaced by Mr. Hsi-Yuan Hsu as Director/Legal Representative for Airoha's affiliates and invested companies. The reason for the change is the replacement of representative. The original term of appointment was from June 21, 2024, to June 20, 2027. The effective date of the new appointment is January 30, 2026. Reported Earnings • Oct 29
Third quarter 2025 earnings released: NT$0.14 loss per share (vs NT$0.11 loss in 3Q 2024) Third quarter 2025 results: NT$0.14 loss per share (further deteriorated from NT$0.11 loss in 3Q 2024). Revenue: NT$173.9m (up 3.8% from 3Q 2024). Net loss: NT$13.5m (loss widened 28% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Board Change • Aug 28
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. 4 non-independent directors. Independent Director Ya-Jing Li was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 30
Second quarter 2025 earnings released: NT$0.22 loss per share (vs NT$0.29 loss in 2Q 2024) Second quarter 2025 results: NT$0.22 loss per share. Revenue: NT$169.1m (up 1.3% from 2Q 2024). Net loss: NT$21.0m (loss widened 4.7% from 2Q 2024). Reported Earnings • May 05
First quarter 2025 earnings released: NT$0.09 loss per share (vs NT$0.77 loss in 1Q 2024) First quarter 2025 results: NT$0.09 loss per share (improved from NT$0.77 loss in 1Q 2024). Revenue: NT$162.9m (up 18% from 1Q 2024). Net loss: NT$8.83m (loss narrowed 83% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Tillkännagivande • Apr 17
IC Plus Corp. to Report Q1, 2025 Results on Apr 24, 2025 IC Plus Corp. announced that they will report Q1, 2025 results on Apr 24, 2025 Reported Earnings • Mar 28
Full year 2024 earnings released: NT$1.38 loss per share (vs NT$1.77 loss in FY 2023) Full year 2024 results: NT$1.38 loss per share (improved from NT$1.77 loss in FY 2023). Revenue: NT$644.0m (down 10% from FY 2023). Net loss: NT$113.8m (loss narrowed 5.6% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Tillkännagivande • Feb 21
IC Plus Corp., Annual General Meeting, Jun 04, 2025 IC Plus Corp., Annual General Meeting, Jun 04, 2025. Location: 2 floor no,1, kung yeh tung 2nd rd., hsinchu city Taiwan Tillkännagivande • Feb 13
IC Plus Corp. to Report Q4, 2024 Results on Feb 20, 2025 IC Plus Corp. announced that they will report Q4, 2024 results on Feb 20, 2025 New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 40% 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 Earnings have declined by 22% per year over the past 5 years. Shareholders have been substantially diluted in the past year (40% increase in shares outstanding). Reported Earnings • Nov 18
Third quarter 2024 earnings released: NT$0.11 loss per share (vs NT$0.65 loss in 3Q 2023) Third quarter 2024 results: NT$0.11 loss per share (improved from NT$0.65 loss in 3Q 2023). Revenue: NT$167.5m (down 1.0% from 3Q 2023). Net loss: NT$10.5m (loss narrowed 76% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Tillkännagivande • Oct 17
IC Plus Corp. to Report Q3, 2024 Results on Oct 24, 2024 IC Plus Corp. announced that they will report Q3, 2024 results on Oct 24, 2024 New Risk • Sep 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 40% 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 Earnings have declined by 15% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (40% increase in shares outstanding). Reported Earnings • Aug 13
Second quarter 2024 earnings released: NT$0.29 loss per share (vs NT$0.55 loss in 2Q 2023) Second quarter 2024 results: NT$0.29 loss per share (improved from NT$0.55 loss in 2Q 2023). Revenue: NT$166.9m (up 6.7% from 2Q 2023). Net loss: NT$20.1m (loss narrowed 46% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Tillkännagivande • Jul 25
IC Plus Corp. Announces Remuneration Committee Changes IC Plus Corp. announced remuneration committee chnages. Name of the previous position holder: Mr. Chun Kuan, Mr. Yu-Lin Cheng, Mr. Chia-Cheng Liu Resume of the previous position holder: Mr. Chun Kuan/Independent Director, IC PLUS Corp., Mr. Yu-Lin Cheng/Independent Director, IC PLUS Corp., Mr. Chia-Cheng Liu/Independent Director, IC PLUS Corp. Name of the new position holder: Ms. Ya-Jing Li, and Ms. Hsiang-Chu Lai. Resume of the new position holder: Ms. Ya-Jing Li Independent Director (member of Audit Committee and Compensation Committee), Silicon Integrated Systems, and Ms. Hsiang-Chu Lai Former professor and EMBA executive director of the School of Management, National Taiwan Normal University. Effective date of the new member is July 24, 2024. Reason for the change: term expired. Date of occurrence of the change: July 24, 2024. Tillkännagivande • Jul 17
IC Plus Corp. to Report Q2, 2024 Results on Jul 24, 2024 IC Plus Corp. announced that they will report Q2, 2024 results on Jul 24, 2024 New Risk • May 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. 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 Share price has been highly volatile over the past 3 months (8.6% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.1% net profit margin). Tillkännagivande • Apr 28
IC Plus Corp. to Report Q1, 2024 Results on May 03, 2024 IC Plus Corp. announced that they will report Q1, 2024 results on May 03, 2024 Tillkännagivande • Mar 08
IC Plus Corp. announced that it expects to receive TWD 1.932774 billion in funding from Airoha Technology Corp. IC Plus Corp. announced a private placement of 29,508,000 shares at an issue price of TWD 65.5 per share for the gross proceeds of TWD 1,932,774,000? on March 6, 2024. The transaction has been approved by the shareholders of the company. The transaction will include participation from returning investor, Airoha Technology Corp. Tillkännagivande • Mar 07
IC Plus Corp., Annual General Meeting, Jun 17, 2024 IC Plus Corp., Annual General Meeting, Jun 17, 2024. Location: GIS HSP Convention Center - 2F Einstein (Hsinchu Science Park Life Hub) 2F., No.1, Gongye E. 2nd Rd., East Dist., Hsinchu City Taiwan Agenda: To report the business of 2023; to consider audit Committee's review report of 2023; to report Rules of Procedure for Board of Directors Meetings; to report operating standards related to financial transactions between related parties; to approve 2023 Business Report and Financial Statements; to consider ratification of the Fiscal 2023 Deficit Compensation Proposal; and to consider other matters. 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: 1.1% Last year net profit margin: 10% 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: Major Risk Dividend is not well covered by earnings and cash flows. Dividend per share is over 8x earnings per share. Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (5.7% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.1% net profit margin). New Risk • Oct 31
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 5.9% 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 High level of non-cash earnings (27% accrual ratio). Minor Risks Dividend is not well covered by cash flows (dividend per share is over 5x cash flows per share). Share price has been volatile over the past 3 months (5.9% average weekly change). Market cap is less than US$100m (NT$3.17b market cap, or US$97.8m). Reported Earnings • Aug 11
Second quarter 2023 earnings released: NT$0.55 loss per share (vs NT$0.26 profit in 2Q 2022) Second quarter 2023 results: NT$0.55 loss per share (down from NT$0.26 profit in 2Q 2022). Revenue: NT$156.4m (down 43% from 2Q 2022). Net loss: NT$37.1m (down 312% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. New Risk • Jul 19
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 6.1% 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 High level of non-cash earnings (43% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.1% average weekly change). New Risk • Jul 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.10b (US$98.9m) 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: Major Risk High level of non-cash earnings (43% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (NT$3.10b market cap, or US$98.9m). Upcoming Dividend • Jun 26
Upcoming dividend of NT$1.20 per share at 2.5% yield Eligible shareholders must have bought the stock before 03 July 2023. Payment date: 28 July 2023. Payout ratio is a comfortable 50% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (3.2%). Reported Earnings • Mar 19
Full year 2022 earnings released: EPS: NT$2.22 (vs NT$0.91 in FY 2021) Full year 2022 results: EPS: NT$2.22 (up from NT$0.91 in FY 2021). Revenue: NT$1.30b (up 18% from FY 2021). Net income: NT$150.1m (up 146% from FY 2021). Profit margin: 12% (up from 5.5% 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 70% per year but the company’s share price has only increased by 55% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 12
Third quarter 2022 earnings released: EPS: NT$0.81 (vs NT$0.11 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.81 (up from NT$0.11 in 3Q 2021). Revenue: NT$399.8m (up 27% from 3Q 2021). Net income: NT$54.9m (up NT$47.4m from 3Q 2021). Profit margin: 14% (up from 2.4% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment improved over the past week After last week's 17% share price gain to NT$58.00, the stock trades at a trailing P/E ratio of 48.7x. Average trailing P/E is 11x in the Semiconductor industry in Taiwan. Total returns to shareholders of 327% over the past three years. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 16% share price gain to NT$51.50, the stock trades at a trailing P/E ratio of 43.2x. Average trailing P/E is 13x in the Semiconductor industry in Taiwan. Total returns to shareholders of 305% over the past three years. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.26 (vs NT$0.37 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.26 (down from NT$0.37 in 2Q 2021). Revenue: NT$272.2m (flat on 2Q 2021). Net income: NT$17.5m (down 30% from 2Q 2021). Profit margin: 6.4% (down from 9.2% in 2Q 2021). 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 48% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$37.10, the stock trades at a trailing P/E ratio of 28.5x. Average trailing P/E is 12x in the Semiconductor industry in Taiwan. Total returns to shareholders of 244% over the past three years. Upcoming Dividend • Jun 24
Upcoming dividend of NT$0.60 per share Eligible shareholders must have bought the stock before 01 July 2022. Payment date: 29 July 2022. Trailing yield: 1.4%. Lower than top quartile of Taiwanese dividend payers (6.4%). Lower than average of industry peers (3.5%). Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$39.30, the stock trades at a trailing P/E ratio of 30.2x. Average trailing P/E is 14x in the Semiconductor industry in Taiwan. Total returns to shareholders of 346% over the past three years. Reported Earnings • May 06
First quarter 2022 earnings released: EPS: NT$0.12 (vs NT$0.30 loss in 1Q 2021) First quarter 2022 results: EPS: NT$0.12 (up from NT$0.30 loss in 1Q 2021). Revenue: NT$283.9m (up 52% from 1Q 2021). Net income: NT$8.07m (up NT$28.5m from 1Q 2021). Profit margin: 2.8% (up from net loss in 1Q 2021). 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 82% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 19
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$0.91 (up from NT$1.71 loss in FY 2020). Revenue: NT$1.11b (up 33% from FY 2020). Net income: NT$61.1m (up NT$176.2m from FY 2020). Profit margin: 5.5% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 92% per year, which means it is well ahead of earnings. Buying Opportunity • Mar 08
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 24%. The fair value is estimated to be NT$72.31, 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 declined by 9.6% per annum over the last 3 years. Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS NT$0.11 (vs NT$0.085 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$315.3m (up 29% from 3Q 2020). Net income: NT$7.53m (up 31% from 3Q 2020). Profit margin: 2.4% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 105% per year, which means it is well ahead of earnings. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$0.37 (vs NT$0.25 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: NT$273.9m (up 53% from 2Q 2020). Net income: NT$25.2m (up 50% from 2Q 2020). Profit margin: 9.2% (down from 9.4% in 2Q 2020). 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 79% per year, which means it is well ahead of earnings. Reported Earnings • Mar 19
Full year 2020 earnings released: NT$1.71 loss per share (vs NT$1.94 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: NT$832.3m (down 15% from FY 2019). Net loss: NT$115.1m (down 188% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 54% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 21
New 90-day high: NT$23.85 The company is up 47% from its price of NT$16.20 on 20 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 34% over the same period. Is New 90 Day High Low • Jan 06
New 90-day high: NT$23.10 The company is up 49% from its price of NT$15.55 on 08 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 24% over the same period. Tillkännagivande • Dec 28
Airoha Technology Corp. agreed to acquire IC Plus Corp. (GTSM:8040) for TWD 1.5 billion. Airoha Technology Corp. agreed to acquire IC Plus Corp. (GTSM:8040) for TWD 1.5 billion on December 27, 2020. Airoha Technology Corp. will acquire shares at TWD 22 per share. After completion of the transaction, IC Plus Corp. will become the fully owned subsidiary of Airoha Technology Corp. The transaction will be funded through own capital or loan. The share swap is conditioned on a resolution adopted by shareholders' meeting of IC PLUS in accordance with applicable laws. The Board of Directors of Airoha Technology Corp. has approved the transaction. Jui Wen Lu of Diwan & Company acted as accountant to Airoha Technology Corp. Is New 90 Day High Low • Dec 17
New 90-day high: NT$18.90 The company is up 20% from its price of NT$15.80 on 18 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. Reported Earnings • Nov 08
Third quarter 2020 earnings released: EPS NT$0.09 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$243.7m (down 6.1% from 3Q 2019). Net income: NT$5.74m (down 94% from 3Q 2019). Profit margin: 2.4% (down from 38% in 3Q 2019). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Oct 21
New 90-day high: NT$17.00 The company is up 7.0% from its price of NT$15.95 on 23 July 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 13% over the same period.