Reported Earnings • Mar 26
Full year 2025 earnings released: NT$7.65 loss per share (vs NT$3.15 loss in FY 2024) Full year 2025 results: NT$7.65 loss per share (further deteriorated from NT$3.15 loss in FY 2024). Revenue: NT$2.94b (up 5.4% from FY 2024). Net loss: NT$461.8m (loss widened 140% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 40 percentage points per year, which is a significant difference in performance. Tillkännagivande • Mar 13
Good Way Technology Co., Ltd., Annual General Meeting, Jun 09, 2026 Good Way Technology Co., Ltd., Annual General Meeting, Jun 09, 2026. Location: 3 floor no,131 ln.235, pao ch`iao rd., sindian district, new taipei city Taiwan New Risk • Nov 28
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 54% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$1.14b market cap, or US$36.3m). Reported Earnings • Nov 06
Third quarter 2025 earnings released: NT$2.96 loss per share (vs NT$1.07 loss in 3Q 2024) Third quarter 2025 results: NT$2.96 loss per share (further deteriorated from NT$1.07 loss in 3Q 2024). Revenue: NT$702.0m (up 8.7% from 3Q 2024). Net loss: NT$177.3m (loss widened 171% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 47 percentage points per year, which is a significant difference in performance. New Risk • Aug 18
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 54% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$1.48b market cap, or US$49.4m). Reported Earnings • Aug 17
Second quarter 2025 earnings released: NT$1.38 loss per share (vs NT$0.82 loss in 2Q 2024) Second quarter 2025 results: NT$1.38 loss per share (further deteriorated from NT$0.82 loss in 2Q 2024). Revenue: NT$778.2m (up 18% from 2Q 2024). Net loss: NT$83.8m (loss widened 68% from 2Q 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 5% per year, which means it has not declined as severely as earnings. Reported Earnings • May 07
First quarter 2025 earnings released: NT$0.63 loss per share (vs NT$1.09 loss in 1Q 2024) First quarter 2025 results: NT$0.63 loss per share (improved from NT$1.09 loss in 1Q 2024). Revenue: NT$755.5m (up 7.9% from 1Q 2024). Net loss: NT$38.3m (loss narrowed 43% from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. New Risk • Apr 06
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 6.3% 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 Risks Debt is not well covered by operating cash flow (0.2% operating cash flow to total debt). Earnings have declined by 50% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (NT$1.68b market cap, or US$50.5m). Tillkännagivande • Mar 28
Good Way Technology Co., Ltd., Annual General Meeting, Jun 17, 2025 Good Way Technology Co., Ltd., Annual General Meeting, Jun 17, 2025, at 09:00 Taipei Standard Time. Location: 3 floor no,131 ln.235, pao ch`iao rd., sindian district, new taipei city Taiwan Tillkännagivande • Mar 18
Good Way Technology Co., Ltd. to Report Fiscal Year 2024 Results on Mar 25, 2025 Good Way Technology Co., Ltd. announced that they will report fiscal year 2024 results on Mar 25, 2025 Tillkännagivande • Mar 04
Good Way Technology Co., Ltd. to Report Fiscal Year 2024 Results on Mar 11, 2025 Good Way Technology Co., Ltd. announced that they will report fiscal year 2024 results on Mar 11, 2025 Reported Earnings • Nov 12
Third quarter 2024 earnings released: NT$1.07 loss per share (vs NT$0.92 loss in 3Q 2023) Third quarter 2024 results: NT$1.07 loss per share (further deteriorated from NT$0.92 loss in 3Q 2023). Revenue: NT$645.7m (down 5.1% from 3Q 2023). Net loss: NT$65.5m (loss widened 16% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Tillkännagivande • Oct 29
Good Way Technology Co., Ltd. to Report Q3, 2024 Results on Nov 05, 2024 Good Way Technology Co., Ltd. announced that they will report Q3, 2024 results on Nov 05, 2024 Reported Earnings • Aug 09
Second quarter 2024 earnings released: NT$0.82 loss per share (vs NT$2.43 loss in 2Q 2023) Second quarter 2024 results: NT$0.82 loss per share (improved from NT$2.43 loss in 2Q 2023). Revenue: NT$661.8m (down 14% from 2Q 2023). Net loss: NT$49.9m (loss narrowed 66% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Tillkännagivande • Jul 30
Good Way Technology Co., Ltd. to Report Q2, 2024 Results on Aug 06, 2024 Good Way Technology Co., Ltd. announced that they will report Q2, 2024 results on Aug 06, 2024 Reported Earnings • May 09
First quarter 2024 earnings released: NT$1.09 loss per share (vs NT$1.82 loss in 1Q 2023) First quarter 2024 results: NT$1.09 loss per share (improved from NT$1.82 loss in 1Q 2023). Revenue: NT$700.5m (down 21% from 1Q 2023). Net loss: NT$66.8m (loss narrowed 38% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Tillkännagivande • May 08
Good Way Technology Co., Ltd. Appoints Lee Chen Che as CQO Good Way Technology Co., Ltd. announced the new CQO of the group on April 1, 2024. As approved by the board of directors on May 7, 2024, Mr. Lee Chen Che would serve as the group’s CQO. Name, title, and resume of the new position holder: Lee Chen Che/Vice President. Reported Earnings • Mar 26
Full year 2023 earnings released: NT$6.13 loss per share (vs NT$3.73 profit in FY 2022) Full year 2023 results: NT$6.13 loss per share (down from NT$3.73 profit in FY 2022). Revenue: NT$3.03b (down 55% from FY 2022). Net loss: NT$372.9m (down 266% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Tillkännagivande • Mar 22
Good Way Technology Co., Ltd., Annual General Meeting, Jun 26, 2024 Good Way Technology Co., Ltd., Annual General Meeting, Jun 26, 2024. Location: Head office meeting room, 3F, No. 131 Ln. Taiwan New Taipei City Taiwan Agenda: To consider 2023 business report; to consider Audit Committee's review of the 2023 annual final accounting ledgers and statements; to consider the execution status of the Company's issuance of the third domestic convertible corporate bonds; to consider amendment to the Standards of Procedures for the Board of Directors; to acknowledge the 2023 business report and financial statements; to accept the 2023 profit and loss appropriation statement; to consider discussion of amendments to the Company's Rules of Procedure for Shareholders' Meeting; to consider discussion to approve the lifting of non-competition restrictions for directors; and to consider election of new directors. Tillkännagivande • Mar 14
Good Way Technology Co., Ltd. Appoints Chin Tack Koi as Member of Remuneration Committee Good Way Technology Co., Ltd. announced changes in the members of the company's remuneration committee (an additional independent director has been appointed). Name of the new position holder: Chin Tack Koi, independent director. Resume of the new position holder: Independent Director of the Company. Effective date of the new member is March 12, 2024. New Risk • Nov 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.4% 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 7.3% per year over the past 5 years. Minor Risks High level of debt (46% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (2.4% increase in shares outstanding). Market cap is less than US$100m (NT$2.07b market cap, or US$64.3m). New Risk • Oct 18
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 Earnings have declined by 7.3% per year over the past 5 years. Minor Risks High level of debt (46% net debt to equity). 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 (6.1% average weekly change). Market cap is less than US$100m (NT$2.24b market cap, or US$69.1m). Upcoming Dividend • Jul 17
Upcoming dividend of NT$1.70 per share at 4.0% yield Eligible shareholders must have bought the stock before 24 July 2023. Payment date: 25 August 2023. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.3%). Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$52.30, the stock trades at a trailing P/E ratio of 12.4x. Average trailing P/E is 14x in the Tech industry in Taiwan. Total returns to shareholders of 205% over the past three years. Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: NT$4.18 (vs NT$0.58 in FY 2021) Full year 2022 results: EPS: NT$4.18 (up from NT$0.58 in FY 2021). Revenue: NT$6.80b (up 45% from FY 2021). Net income: NT$225.2m (up NT$193.5m from FY 2021). Profit margin: 3.3% (up from 0.7% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 16% share price gain to NT$51.00, the stock trades at a trailing P/E ratio of 65.4x. Average trailing P/E is 11x in the Tech industry in Taiwan. Total returns to shareholders of 88% over the past three years. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment deteriorated over the past week After last week's 19% share price decline to NT$46.80, the stock trades at a trailing P/E ratio of 60x. Average trailing P/E is 11x in the Tech industry in Taiwan. Total returns to shareholders of 54% over the past three years. Reported Earnings • Nov 06
Third quarter 2022 earnings released: EPS: NT$3.62 (vs NT$0.12 loss in 3Q 2021) Third quarter 2022 results: EPS: NT$3.62 (up from NT$0.12 loss in 3Q 2021). Revenue: NT$2.57b (up 104% from 3Q 2021). Net income: NT$194.3m (up NT$200.9m from 3Q 2021). Profit margin: 7.6% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 09
Upcoming dividend of NT$1.02 per share Eligible shareholders must have bought the stock before 16 September 2022. Payment date: 07 October 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Taiwanese dividend payers (6.6%). Lower than average of industry peers (7.4%). Reported Earnings • Aug 07
Second quarter 2022 earnings released: NT$1.49 loss per share (vs NT$0.25 profit in 2Q 2021) Second quarter 2022 results: NT$1.49 loss per share (down from NT$0.25 profit in 2Q 2021). Revenue: NT$1.16b (up 5.9% from 2Q 2021). Net loss: NT$80.8m (down NT$94.2m from profit in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Buying Opportunity • Jul 03
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 25%. The fair value is estimated to be NT$30.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.9% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • May 07
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: NT$1.57 loss per share (down from NT$0.21 profit in 1Q 2021). Revenue: NT$1.18b (up 6.5% from 1Q 2021). Net loss: NT$85.1m (down NT$96.7m from profit in 1Q 2021). Revenue missed analyst estimates by 25%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, earnings per share has fallen by 30% 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 • Mar 19
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: NT$0.58 (down from NT$3.47 in FY 2020). Revenue: NT$4.68b (down 8.2% from FY 2020). Net income: NT$31.7m (down 82% from FY 2020). Profit margin: 0.7% (down from 3.5% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 25%. Earnings per share (EPS) also missed analyst estimates by 108%. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 9% per year. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$30.60, the stock trades at a trailing P/E ratio of 32x. Average trailing P/E is 16x in the Tech industry in Taiwan. Total loss to shareholders of 21% over the past three years. Reported Earnings • Nov 12
Third quarter 2021 earnings released: NT$0.12 loss per share (vs NT$1.40 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: NT$1.26b (down 21% from 3Q 2020). Net loss: NT$6.60m (down 109% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 6% per year. Upcoming Dividend • Aug 24
Upcoming dividend of NT$1.80 per share Eligible shareholders must have bought the stock before 31 August 2021. Payment date: 24 September 2021. Trailing yield: 4.6%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (5.4%). Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$0.25 (vs NT$1.98 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.10b (down 13% from 2Q 2020). Net income: NT$13.5m (down 87% from 2Q 2020). Profit margin: 1.2% (down from 7.9% in 2Q 2020). The decrease in margin was driven by lower revenue. 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 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 14
First quarter 2021 earnings released: EPS NT$0.21 (vs NT$0.52 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$1.11b (up 19% from 1Q 2020). Net income: NT$11.6m (up NT$37.6m from 1Q 2020). Profit margin: 1.0% (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 increased by 18% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 12
Investor sentiment deteriorated over the past week After last week's 19% share price decline to NT$38.75, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Tech industry in Taiwan. Total returns to shareholders of 12% over the past three years. Tillkännagivande • Mar 18
Good Way Technology Co., Ltd., Annual General Meeting, Jun 10, 2021 Good Way Technology Co., Ltd., Annual General Meeting, Jun 10, 2021. Reported Earnings • Mar 17
Full year 2020 earnings released: EPS NT$3.47 (vs NT$2.04 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$5.10b (up 3.8% from FY 2019). Net income: NT$178.9m (up 74% from FY 2019). Profit margin: 3.5% (up from 2.1% in FY 2019). The increase in margin was driven by higher revenue. 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 4% per year. Is New 90 Day High Low • Mar 05
New 90-day high: NT$57.20 The company is up 8.0% from its price of NT$53.10 on 04 December 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 10.0% over the same period. Is New 90 Day High Low • Nov 25
New 90-day low: NT$48.75 The company is down 24% from its price of NT$64.50 on 27 August 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is down 2.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$1.40 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.60b (up 42% from 3Q 2019). Net income: NT$71.4m (up 47% from 3Q 2019). Profit margin: 4.5% (up from 4.3% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 3% per year.