New Risk • Jul 15
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 9.5% 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 55% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.5% average weekly change). Shareholders have been diluted in the past year (28% increase in shares outstanding). Market cap is less than US$100m (NT$516.0m market cap, or US$16.0m). Reported Earnings • May 16
First quarter 2026 earnings released: NT$0.39 loss per share (vs NT$0.16 loss in 1Q 2025) First quarter 2026 results: NT$0.39 loss per share (further deteriorated from NT$0.16 loss in 1Q 2025). Revenue: NT$59.3m (down 37% from 1Q 2025). Net loss: NT$15.9m (loss widened 221% from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. Reported Earnings • Mar 26
Full year 2025 earnings released: NT$2.25 loss per share (vs NT$2.04 loss in FY 2024) Full year 2025 results: NT$2.25 loss per share (further deteriorated from NT$2.04 loss in FY 2024). Revenue: NT$234.3m (down 20% from FY 2024). Net loss: NT$78.5m (loss widened 24% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 25% per year whereas the company’s share price has fallen by 26% per year. Tillkännagivande • Mar 13
Connection Technology Systems Inc., Annual General Meeting, Jun 16, 2026 Connection Technology Systems Inc., Annual General Meeting, Jun 16, 2026. Location: 17- floor no,93, sec.1 hsin t`ai 5th rd., sijhih district, new taipei city Taiwan New Risk • Mar 03
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 7.2% 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 Risks Earnings have declined by 56% per year over the past 5 years. Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (7.2% average weekly change). Market cap is less than US$100m (NT$467.0m market cap, or US$14.7m). New Risk • Dec 23
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 Earnings have declined by 56% per year over the past 5 years. Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). 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$560.9m market cap, or US$17.8m). New Risk • Nov 30
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 32% 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 56% per year over the past 5 years. Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Minor Risk Market cap is less than US$100m (NT$516.0m market cap, or US$16.4m). Reported Earnings • Nov 15
Third quarter 2025 earnings released: NT$0.22 loss per share (vs NT$0.69 loss in 3Q 2024) Third quarter 2025 results: NT$0.22 loss per share (improved from NT$0.69 loss in 3Q 2024). Revenue: NT$50.8m (down 19% from 3Q 2024). Net loss: NT$7.75m (loss narrowed 64% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 15
Second quarter 2025 earnings released: NT$1.15 loss per share (vs NT$0.41 loss in 2Q 2024) Second quarter 2025 results: NT$1.15 loss per share (further deteriorated from NT$0.41 loss in 2Q 2024). Revenue: NT$30.7m (down 61% from 2Q 2024). Net loss: NT$36.5m (loss widened 187% from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. New Risk • May 27
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 8.8% 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 36% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Market cap is less than US$100m (NT$568.6m market cap, or US$19.0m). Reported Earnings • May 15
First quarter 2025 earnings released: NT$0.16 loss per share (vs NT$0.78 loss in 1Q 2024) First quarter 2025 results: NT$0.16 loss per share (improved from NT$0.78 loss in 1Q 2024). Revenue: NT$94.3m (up 88% from 1Q 2024). Net loss: NT$4.95m (loss narrowed 79% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 48 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 30
Full year 2024 earnings released: NT$2.04 loss per share (vs NT$1.21 loss in FY 2023) Full year 2024 results: NT$2.04 loss per share (further deteriorated from NT$1.21 loss in FY 2023). Revenue: NT$294.4m (down 21% from FY 2023). Net loss: NT$63.1m (loss widened 69% from FY 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 • Jan 23
Connection Technology Systems Inc., Annual General Meeting, Jun 30, 2025 Connection Technology Systems Inc., Annual General Meeting, Jun 30, 2025, at 09:00 Taipei Standard Time. Location: no,1, ching mao 2nd rd., nangang district, taipei city Taiwan Reported Earnings • Nov 18
Third quarter 2024 earnings released: NT$0.69 loss per share (vs NT$0.33 loss in 3Q 2023) Third quarter 2024 results: NT$0.69 loss per share (further deteriorated from NT$0.33 loss in 3Q 2023). Revenue: NT$62.3m (down 36% from 3Q 2023). Net loss: NT$21.2m (loss widened 110% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. New Risk • Nov 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 7.0% 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 21% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (NT$712.7m market cap, or US$22.1m). Reported Earnings • Aug 18
Second quarter 2024 earnings released: NT$0.41 loss per share (vs NT$0.45 loss in 2Q 2023) Second quarter 2024 results: NT$0.41 loss per share (improved from NT$0.45 loss in 2Q 2023). Revenue: NT$78.7m (down 16% from 2Q 2023). Net loss: NT$12.7m (loss narrowed 8.9% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 114 percentage points per year, which is a significant difference in performance. Reported Earnings • May 19
First quarter 2024 earnings released: NT$0.78 loss per share (vs NT$0.51 loss in 1Q 2023) First quarter 2024 results: NT$0.78 loss per share (further deteriorated from NT$0.51 loss in 1Q 2023). Revenue: NT$50.3m (down 52% from 1Q 2023). Net loss: NT$24.1m (loss widened 54% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 128 percentage points per year, which is a significant difference in performance. Tillkännagivande • Mar 30
Connection Technology Systems Inc., Annual General Meeting, Jun 18, 2024 Connection Technology Systems Inc., Annual General Meeting, Jun 18, 2024. Reported Earnings • Mar 27
Full year 2023 earnings released: NT$1.21 loss per share (vs NT$0.35 loss in FY 2022) Full year 2023 results: NT$1.21 loss per share (further deteriorated from NT$0.35 loss in FY 2022). Revenue: NT$370.4m (down 46% from FY 2022). Net loss: NT$37.4m (loss widened 245% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 117 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 13
Second quarter 2023 earnings released: NT$0.45 loss per share (vs NT$0.023 profit in 2Q 2022) Second quarter 2023 results: NT$0.45 loss per share (down from NT$0.023 profit in 2Q 2022). Revenue: NT$93.2m (down 52% from 2Q 2022). Net loss: NT$14.0m (down NT$14.7m from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 06
Upcoming dividend of NT$0.10 per share at 0.4% yield Eligible shareholders must have bought the stock before 13 July 2023. Payment date: 11 August 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 0.4%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (3.0%). Buying Opportunity • Mar 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.3%. The fair value is estimated to be NT$32.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company has become profitable. Buying Opportunity • Feb 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be NT$33.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company has become profitable. Buying Opportunity • Jan 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.4%. The fair value is estimated to be NT$33.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company has become profitable. Buying Opportunity • Dec 21
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 3.8%. The fair value is estimated to be NT$37.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.25 (vs NT$0.62 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.25 (down from NT$0.62 in 3Q 2021). Revenue: NT$179.7m (down 31% from 3Q 2021). Net income: NT$7.61m (down 60% from 3Q 2021). Profit margin: 4.2% (down from 7.4% in 3Q 2021). The decrease in margin was driven by lower 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 26% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.25 (vs NT$0.62 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.25 (down from NT$0.62 in 3Q 2021). Revenue: NT$179.7m (down 31% from 3Q 2021). Net income: NT$7.61m (down 60% from 3Q 2021). Profit margin: 4.2% (down from 7.4% in 3Q 2021). The decrease in margin was driven by lower 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 25% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improved over the past week After last week's 15% share price gain to NT$30.00, the stock trades at a trailing P/E ratio of 48.5x. Average trailing P/E is 18x in the Communications industry in Taiwan. Total returns to shareholders of 106% over the past three years. Reported Earnings • Aug 16
Second quarter 2022 earnings released: EPS: NT$0.02 (vs NT$0.049 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.02 (down from NT$0.049 in 2Q 2021). Revenue: NT$192.4m (down 3.4% from 2Q 2021). Net income: NT$699.0k (down 53% from 2Q 2021). Profit margin: 0.4% (down from 0.8% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 26
Upcoming dividend of NT$0.10 per share Eligible shareholders must have bought the stock before 02 August 2022. Payment date: 29 August 2022. Payout ratio is a comfortable 15% but the company is paying out more than the cash it is generating. Trailing yield: 0.3%. Lower than top quartile of Taiwanese dividend payers (6.6%). Lower than average of industry peers (3.0%). Reported Earnings • May 19
First quarter 2022 earnings released: EPS: NT$0.15 (vs NT$0.26 loss in 1Q 2021) First quarter 2022 results: EPS: NT$0.15 (up from NT$0.26 loss in 1Q 2021). Revenue: NT$191.8m (up 16% from 1Q 2021). Net income: NT$4.75m (up NT$12.7m from 1Q 2021). Profit margin: 2.5% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: NT$0.24 (vs NT$0.52 in FY 2020) Full year 2021 results: EPS: NT$0.24 (down from NT$0.52 in FY 2020). Revenue: NT$853.6m (up 6.6% from FY 2020). Net income: NT$7.30m (down 55% from FY 2020). Profit margin: 0.9% (down from 2.0% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment deteriorated over the past week After last week's 19% share price decline to NT$40.00, the stock trades at a trailing P/E ratio of 62.3x. Average trailing P/E is 24x in the Communications industry in Taiwan. Total returns to shareholders of 132% over the past three years. Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment improved over the past week After last week's 15% share price gain to NT$41.70, the stock trades at a trailing P/E ratio of 65x. Average trailing P/E is 24x in the Communications industry in Taiwan. Total returns to shareholders of 152% over the past three years. Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improved over the past week After last week's 35% share price gain to NT$33.40, the stock trades at a trailing P/E ratio of 52.1x. Average trailing P/E is 23x in the Communications industry in Taiwan. Total returns to shareholders of 135% over the past three years. Reported Earnings • Nov 18
Third quarter 2021 earnings released: EPS NT$0.62 (vs NT$0.55 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$259.4m (up 8.6% from 3Q 2020). Net income: NT$19.1m (up 13% from 3Q 2020). Profit margin: 7.4% (up from 7.1% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 23% per year. Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment improved over the past week After last week's 18% share price gain to NT$24.25, the stock trades at a trailing P/E ratio of 42.4x. Average trailing P/E is 22x in the Communications industry in Taiwan. Total returns to shareholders of 80% over the past three years. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment improved over the past week After last week's 20% share price gain to NT$19.65, the stock trades at a trailing P/E ratio of 34.4x. Average trailing P/E is 20x in the Communications industry in Taiwan. Total returns to shareholders of 51% over the past three years. Valuation Update With 7 Day Price Move • Sep 25
Investor sentiment improved over the past week After last week's 17% share price gain to NT$17.75, the stock trades at a trailing P/E ratio of 31x. Average trailing P/E is 21x in the Communications industry in Taiwan. Total returns to shareholders of 6.5% over the past three years. Upcoming Dividend • Aug 24
Upcoming dividend of NT$0.25 per share Eligible shareholders must have bought the stock before 31 August 2021. Payment date: 29 September 2021. Trailing yield: 1.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.3%). Reported Earnings • Aug 19
Second quarter 2021 earnings released: EPS NT$0.05 (vs NT$0.086 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$199.1m (up 11% from 2Q 2020). Net income: NT$1.50m (down 44% from 2Q 2020). Profit margin: 0.8% (down from 1.5% 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 4% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$14.00, the stock trades at a trailing P/E ratio of 23x. Average trailing P/E is 21x in the Communications industry in Taiwan. Total loss to shareholders of 24% over the past three years. Reported Earnings • May 18
First quarter 2021 earnings released: NT$0.26 loss per share (vs NT$0.33 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: NT$165.2m (up 9.6% from 1Q 2020). Net loss: NT$7.92m (loss narrowed 25% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 25
Full year 2020 earnings released: EPS NT$0.52 (vs NT$1.20 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$800.5m (up 28% from FY 2019). Net income: NT$16.1m (up NT$53.9m from FY 2019). Profit margin: 2.0% (up from net loss in FY 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Mar 10
New 90-day low: NT$18.95 The company is down 19% from its price of NT$23.30 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 Communications industry, which is up 1.0% over the same period. Is New 90 Day High Low • Jan 18
New 90-day low: NT$19.45 The company is down 19% from its price of NT$24.15 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 Communications industry, which is up 18% over the same period. Is New 90 Day High Low • Dec 14
New 90-day high: NT$24.60 The company is up 36% from its price of NT$18.15 on 16 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Communications industry, which is up 14% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.55 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$238.7m (up 81% from 3Q 2019). Net income: NT$16.9m (up NT$31.3m from 3Q 2019). Profit margin: 7.1% (up from net loss in 3Q 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 114% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 17
New 90-day high: NT$21.65 The company is up 41% from its price of NT$15.35 on 17 July 2020. The Taiwanese market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Communications industry, which is flat over the same period. 
