New Risk • Aug 20
New major risk - Revenue and earnings growth Earnings have declined by 5.1% 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 Risk Earnings have declined by 5.1% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (NT$1.32b market cap, or US$41.4m). Declared Dividend • Jul 04
Dividend increased to NT$1.40 Dividend of NT$1.40 is 17% higher than last year. Ex-date: 20th July 2026 Payment date: 13th August 2026 Dividend yield will be 2.8%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (83% cash payout ratio). The dividend has increased by an average of 24% per year over the past 4 years. However, payments have been volatile during that time. Earnings per share has grown by 163% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$48.95, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 43x in the Electronic industry in Taiwan. Total loss to shareholders of 17% over the past three years. Valuation Update With 7 Day Price Move • Apr 27
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to NT$59.10, the stock trades at a trailing P/E ratio of 24.2x. Average trailing P/E is 27x in the Electronic industry in Taiwan. Total loss to shareholders of 20% over the past three years. New Risk • Apr 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 15% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (15% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (NT$1.74b market cap, or US$54.5m). Tillkännagivande • Mar 30
Ushine Photonics Corporation, Annual General Meeting, Jun 26, 2026 Ushine Photonics Corporation, Annual General Meeting, Jun 26, 2026. Location: 3 floor no,77, hsien cheng 8th st., jhubei city, hsinchu county Taiwan Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to NT$55.20, the stock trades at a trailing P/E ratio of 22.6x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total loss to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$45.20, the stock trades at a trailing P/E ratio of 18.5x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total loss to shareholders of 36% over the past three years. New Risk • Mar 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. 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: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (NT$1.05b market cap, or US$33.4m). Declared Dividend • Jul 16
Dividend increased to NT$1.20 Dividend of NT$1.20 is 20% higher than last year. Ex-date: 30th July 2025 Payment date: 22nd August 2025 Dividend yield will be 2.6%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (47% earnings payout ratio) but not covered by cash flows (215% cash payout ratio). The dividend has increased by an average of 26% per year over the past 3 years. However, payments have been volatile during that time. Earnings per share has grown by 219% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$47.05, the stock trades at a trailing P/E ratio of 18.8x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Negligible returns to shareholders over past three years. New Risk • Apr 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 10% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). 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$963.1m market cap, or US$29.1m). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$36.35, the stock trades at a trailing P/E ratio of 35.9x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total loss to shareholders of 18% over the past three years. Tillkännagivande • Mar 31
Ushine Photonics Corporation, Annual General Meeting, Jun 27, 2025 Ushine Photonics Corporation, Annual General Meeting, Jun 27, 2025. Location: 3 floor no,77, hsien cheng 8th st., jhubei city, hsinchu county Taiwan New Risk • Mar 01
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 Dividend is not well covered by earnings and cash flows. Payout ratio: 97% Paying a dividend despite having no free cash flows. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (6.3% average weekly change). Profit margins are more than 30% lower than last year (11% net profit margin). Market cap is less than US$100m (NT$1.32b market cap, or US$40.1m). Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$64.90, the stock trades at a trailing P/E ratio of 62.8x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 199% over the past three years. New Risk • Aug 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.8% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.8% average weekly change). Minor Risks Dividend is not well covered by earnings (108% payout ratio). Profit margins are more than 30% lower than last year (11% net profit margin). Market cap is less than US$100m (NT$1.07b market cap, or US$32.9m). Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$54.20, the stock trades at a trailing P/E ratio of 58.3x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 311% over the past three years. Upcoming Dividend • Jul 23
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 30 July 2024. Payment date: 23 August 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (4.3%). Lower than average of industry peers (2.7%). Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$47.15, the stock trades at a trailing P/E ratio of 50.7x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 295% over the past three years. Reported Earnings • Apr 30
Full year 2023 earnings released: EPS: NT$0.93 (vs NT$7.62 in FY 2022) Full year 2023 results: EPS: NT$0.93 (down from NT$7.62 in FY 2022). Revenue: NT$220.5m (down 55% from FY 2022). Net income: NT$24.1m (down 87% from FY 2022). Profit margin: 11% (down from 37% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Apr 05
Ushine Photonics Corporation, Annual General Meeting, Jun 24, 2024 Ushine Photonics Corporation, Annual General Meeting, Jun 24, 2024. New Risk • Mar 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 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 (8.0% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (NT$1.50b market cap, or US$47.4m). Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to NT$58.10, the stock trades at a trailing P/E ratio of 14.2x. Average trailing P/E is 21x in the Electronic industry in Taiwan. Total returns to shareholders of 562% over the past three years. Valuation Update With 7 Day Price Move • Dec 08
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$44.50, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 22x in the Electronic industry in Taiwan. Total returns to shareholders of 433% over the past three years. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$44.50, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 454% over the past three years. Reported Earnings • Aug 16
First half 2023 earnings released: EPS: NT$0.76 (vs NT$4.09 in 1H 2022) First half 2023 results: EPS: NT$0.76 (down from NT$4.09 in 1H 2022). Revenue: NT$120.6m (down 50% from 1H 2022). Net income: NT$19.6m (down 80% from 1H 2022). Profit margin: 16% (down from 40% in 1H 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 55% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$39.80, the stock trades at a trailing P/E ratio of 5.7x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 394% over the past three years. Upcoming Dividend • Jul 19
Upcoming dividend of NT$2.50 per share at 5.0% yield Eligible shareholders must have bought the stock before 26 July 2023. Payment date: 18 August 2023. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 5.0%. Lower than top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (4.1%). Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$60.10, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 679% over the past three years. Reported Earnings • May 02
Full year 2022 earnings released: EPS: NT$7.62 (vs NT$1.79 in FY 2021) Full year 2022 results: EPS: NT$7.62 (up from NT$1.79 in FY 2021). Revenue: NT$493.2m (up 61% from FY 2021). Net income: NT$181.8m (up 365% from FY 2021). Profit margin: 37% (up from 13% 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 120% per year but the company’s share price has only increased by 105% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$70.50, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 14x in the Electronic industry in Taiwan. Total returns to shareholders of 690% over the past three years. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$59.00, the stock trades at a trailing P/E ratio of 12.4x. Average trailing P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 461% over the past three years. Buying Opportunity • Dec 28
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 52%. The fair value is estimated to be NT$61.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment deteriorated over the past week After last week's 20% share price decline to NT$52.40, the stock trades at a trailing P/E ratio of 11x. Average trailing P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 438% over the past three years. Buying Opportunity • Dec 12
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 60%. The fair value is estimated to be NT$63.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improved over the past week After last week's 18% share price gain to NT$76.80, the stock trades at a trailing P/E ratio of 16.2x. Average trailing P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 713% over the past three years. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Buying Opportunity • Oct 24
Now 29% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be NT$84.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment deteriorated over the past week After last week's 19% share price decline to NT$74.10, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 10x in the Electronic industry in Taiwan. Total returns to shareholders of 610% over the past three years. Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$125, the stock trades at a trailing P/E ratio of 23.8x. Average trailing P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 1,316% over the past three years. Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improved over the past week After last week's 18% share price gain to NT$93.00, the stock trades at a trailing P/E ratio of 17.7x. Average trailing P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 827% over the past three years. Upcoming Dividend • Jun 22
Upcoming dividend of NT$0.60 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 22 July 2022. Trailing yield: 1.1%. Lower than top quartile of Taiwanese dividend payers (6.2%). Lower than average of industry peers (4.5%). Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Apr 04
Full year 2021 earnings released: EPS: NT$1.79 (vs NT$0.022 in FY 2020) Full year 2021 results: EPS: NT$1.79 (up from NT$0.022 in FY 2020). Revenue: NT$306.5m (up 55% from FY 2020). Net income: NT$39.1m (up NT$38.7m from FY 2020). Profit margin: 13% (up from 0.2% 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 136% per year but the company’s share price has only increased by 83% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improved over the past week After last week's 31% share price gain to NT$46.30, the stock trades at a trailing P/E ratio of 77.7x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 433% over the past three years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improved over the past week After last week's 18% share price gain to NT$35.20, the stock trades at a trailing P/E ratio of 59.1x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 327% over the past three years. Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improved over the past week After last week's 18% share price gain to NT$24.95, the stock trades at a trailing P/E ratio of 41.9x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 333% over the past three years. Valuation Update With 7 Day Price Move • Oct 22
Investor sentiment improved over the past week After last week's 15% share price gain to NT$19.00, the stock trades at a trailing P/E ratio of 31.9x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 204% over the past three years. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment improved over the past week After last week's 34% share price gain to NT$26.90, the stock trades at a trailing P/E ratio of 45.2x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 244% over the past three years. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 19% share price gain to NT$17.90, the stock trades at a trailing P/E ratio of 25.1x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 106% over the past three years. Reported Earnings • Aug 18
First half 2021 earnings released: EPS NT$0.59 (vs NT$0.084 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: NT$148.1m (up 65% from 1H 2020). Net income: NT$12.0m (up NT$13.5m from 1H 2020). Profit margin: 8.1% (up from net loss in 1H 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 25
Full year 2020 earnings released: EPS NT$0.02 (vs NT$0.008 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: NT$197.4m (flat on FY 2019). Net income: NT$417.0k (up 196% from FY 2019). Profit margin: 0.2% (up from 0.1% in FY 2019). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Jan 04
New 90-day high: NT$7.89 The company is up 32% from its price of NT$5.99 on 28 September 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 16% over the same period. Is New 90 Day High Low • Oct 20
New 90-day high: NT$7.09 The company is up 9.0% from its price of NT$6.52 on 22 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 Electronic industry, which is down 3.0% over the same period.