New Risk • Jun 18
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 3.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. 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). High level of non-cash earnings (50% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$72.90, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 40x in the Electronic industry in Taiwan. Total returns to shareholders of 270% over the past three years. Reported Earnings • May 19
First quarter 2026 earnings released: EPS: NT$3.69 (vs NT$0.76 in 1Q 2025) First quarter 2026 results: EPS: NT$3.69 (up from NT$0.76 in 1Q 2025). Revenue: NT$11.8b (up 34% from 1Q 2025). Net income: NT$463.4m (up NT$386.5m from 1Q 2025). Profit margin: 3.9% (up from 0.9% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 77% 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 • Apr 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$80.20, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 30x in the Electronic industry in Taiwan. Total returns to shareholders of 325% over the past three years. Reported Earnings • Mar 12
Full year 2025 earnings released: EPS: NT$7.11 (vs NT$2.43 in FY 2024) Full year 2025 results: EPS: NT$7.11 (up from NT$2.43 in FY 2024). Revenue: NT$41.0b (up 44% from FY 2024). Net income: NT$849.1m (up 247% from FY 2024). Profit margin: 2.1% (up from 0.9% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. New Risk • Mar 10
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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (10% average weekly change). High level of non-cash earnings (81% accrual ratio). Minor Risk Shareholders have been diluted in the past year (25% increase in shares outstanding). Tillkännagivande • Mar 10
Trigold Holdings Limited, Annual General Meeting, May 28, 2026 Trigold Holdings Limited, Annual General Meeting, May 28, 2026, at 09:00 Taipei Standard Time. Location: b1 floor no,231, sec.2 chien kuo s. rd., da-an district, taipei city Taiwan Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to NT$76.30, the stock trades at a trailing P/E ratio of 17.7x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 271% over the past three years. Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to NT$62.00, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 209% over the past three years. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$48.75, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 22x in the Electronic industry in Taiwan. Total returns to shareholders of 142% over the past three years. Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: NT$1.37 (vs NT$0.61 in 3Q 2024) Third quarter 2025 results: EPS: NT$1.37 (up from NT$0.61 in 3Q 2024). Revenue: NT$9.70b (up 25% from 3Q 2024). Net income: NT$171.5m (up 180% from 3Q 2024). Profit margin: 1.8% (up from 0.8% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 39% per year whereas the company’s share price has increased by 40% per year. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$49.50, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 22x in the Electronic industry in Taiwan. Total returns to shareholders of 186% over the past three years. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$52.00, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 22x in the Electronic industry in Taiwan. Total returns to shareholders of 178% over the past three years. Reported Earnings • Aug 17
Second quarter 2025 earnings released: EPS: NT$1.39 (vs NT$0.50 in 2Q 2024) Second quarter 2025 results: EPS: NT$1.39 (up from NT$0.50 in 2Q 2024). Revenue: NT$12.0b (up 90% from 2Q 2024). Net income: NT$175.0m (up 246% from 2Q 2024). Profit margin: 1.5% (up from 0.8% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year and the company’s share price has also increased by 15% per year. Declared Dividend • Jun 11
Dividend increased to NT$1.00 Dividend of NT$1.00 is 25% higher than last year. Ex-date: 24th June 2025 Payment date: 24th July 2025 Dividend yield will be 2.6%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (33% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 3.2% per year over the past 7 years. However, payments have been volatile during that time. Earnings per share has grown by 5.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: NT$0.76 (vs NT$0.15 in 1Q 2024) First quarter 2025 results: EPS: NT$0.76 (up from NT$0.15 in 1Q 2024). Revenue: NT$8.82b (up 58% from 1Q 2024). Net income: NT$76.9m (up 417% from 1Q 2024). Profit margin: 0.9% (up from 0.3% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. New Risk • May 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% 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 Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 8.3% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (25% increase in shares outstanding). Tillkännagivande • May 03
Trigold Holdings Limited to Report Q1, 2025 Results on May 12, 2025 Trigold Holdings Limited announced that they will report Q1, 2025 results on May 12, 2025 Valuation Update With 7 Day Price Move • Apr 27
Investor sentiment improves as stock rises 41% After last week's 41% share price gain to NT$47.75, the stock trades at a trailing P/E ratio of 19.6x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 88% over the past three years. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$37.75, the stock trades at a trailing P/E ratio of 15.5x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 29% over the past three years. New Risk • Mar 21
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 8.3% per year over the past 5 years. 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). Reported Earnings • Mar 05
Full year 2024 earnings released: EPS: NT$2.43 (vs NT$1.34 in FY 2023) Full year 2024 results: EPS: NT$2.43 (up from NT$1.34 in FY 2023). Revenue: NT$28.4b (up 33% from FY 2023). Net income: NT$244.6m (up 81% from FY 2023). Profit margin: 0.9% (up from 0.6% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 40% 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. Tillkännagivande • Feb 27
Trigold Holdings Limited, Annual General Meeting, May 29, 2025 Trigold Holdings Limited, Annual General Meeting, May 29, 2025, at 09:00 Taipei Standard Time. Location: b1 floor no,231, sec.2 chien kuo s. rd., da-an district, taipei city Taiwan Tillkännagivande • Feb 15
Trigold Holdings Limited to Report Q4, 2024 Results on Feb 24, 2025 Trigold Holdings Limited announced that they will report Q4, 2024 results on Feb 24, 2025 Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.61 (vs NT$0.23 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.61 (up from NT$0.23 in 3Q 2023). Revenue: NT$7.74b (up 46% from 3Q 2023). Net income: NT$61.2m (up 171% from 3Q 2023). Profit margin: 0.8% (up from 0.4% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 54% 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. Tillkännagivande • Nov 02
Trigold Holdings Limited to Report Q3, 2024 Results on Nov 11, 2024 Trigold Holdings Limited announced that they will report Q3, 2024 results on Nov 11, 2024 Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$35.65, the stock trades at a trailing P/E ratio of 29x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 17% over the past three years. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$31.75, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 6.6% over the past three years. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.50 (vs NT$0.30 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.50 (up from NT$0.30 in 2Q 2023). Revenue: NT$6.30b (up 16% from 2Q 2023). Net income: NT$50.6m (up 65% from 2Q 2023). Profit margin: 0.8% (up from 0.6% in 2Q 2023). The increase in margin was driven by higher revenue. 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 1% per year, which means it has not declined as severely as earnings. Tillkännagivande • Aug 03
Trigold Holdings Limited to Report Q2, 2024 Results on Aug 12, 2024 Trigold Holdings Limited announced that they will report Q2, 2024 results on Aug 12, 2024 Upcoming Dividend • Jun 17
Upcoming dividend of NT$0.80 per share Eligible shareholders must have bought the stock before 24 June 2024. Payment date: 24 July 2024. Payout ratio is on the higher end at 78%, however this is supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.7%). Tillkännagivande • Jun 08
Trigold Holdings Limited Announces Cash Dividend, Payable on July 24, 2024 Trigold Holdings Limited announced the cash dividends of TWD 80,455,560 or TWD 0.8 per share. Ex-rights (Ex-dividend) date is June 24, 2024. Ex-rights (Ex-dividend) record date is June 30, 2024. Payment date of cash dividend distribution on July 24, 2024. Date of the resolution by the board of directors or shareholders meeting, or of the decision by the company: June 6, 2024. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.15 (vs NT$0.46 in 1Q 2023) First quarter 2024 results: EPS: NT$0.15 (down from NT$0.46 in 1Q 2023). Revenue: NT$5.58b (up 9.5% from 1Q 2023). Net income: NT$14.9m (down 68% from 1Q 2023). Profit margin: 0.3% (down from 0.9% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Tillkännagivande • May 05
Trigold Holdings Limited to Report Q1, 2024 Results on May 13, 2024 Trigold Holdings Limited announced that they will report Q1, 2024 results on May 13, 2024 Reported Earnings • Mar 12
Full year 2023 earnings released: EPS: NT$1.34 (vs NT$1.86 in FY 2022) Full year 2023 results: EPS: NT$1.34 (down from NT$1.86 in FY 2022). Revenue: NT$21.3b (up 4.5% from FY 2022). Net income: NT$135.0m (down 28% from FY 2022). Profit margin: 0.6% (down from 0.9% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Tillkännagivande • Feb 24
Trigold Holdings Limited, Annual General Meeting, May 30, 2024 Trigold Holdings Limited, Annual General Meeting, May 30, 2024, at 09:00 Taipei Standard Time. Location: Auditorium, B1F., No. 231, Jianguo South Road, Section 2, Da'an District 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 Report on 2023 employees' and directors' compensation; to consider Directors' Remuneration Report; to consider and accept 2023 Business Report and Financial Statements; to consider and approve the proposal for distribution of 2023 profits; and to consider any other matters. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: NT$0.23 (vs NT$0.33 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.23 (down from NT$0.33 in 3Q 2022). Revenue: NT$5.30b (up 4.6% from 3Q 2022). Net income: NT$22.6m (down 32% from 3Q 2022). Profit margin: 0.4% (down from 0.7% in 3Q 2022). The decrease in margin was driven by higher expenses. 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 2% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$26.60, the stock trades at a trailing P/E ratio of 20x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 36% over the past three years. Valuation Update With 7 Day Price Move • Oct 12
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$29.85, the stock trades at a trailing P/E ratio of 22.4x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 67% over the past three years. Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$27.40, the stock trades at a trailing P/E ratio of 20.6x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 54% over the past three years. Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: NT$0.30 (vs NT$0.19 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.30 (up from NT$0.19 in 2Q 2022). Revenue: NT$5.42b (up 13% from 2Q 2022). Net income: NT$30.6m (up 59% from 2Q 2022). Profit margin: 0.6% (up from 0.4% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 07
Upcoming dividend of NT$1.00 per share at 4.2% yield Eligible shareholders must have bought the stock before 14 July 2023. Payment date: 11 August 2023. Payout ratio is a comfortable 54% but the company is not cash flow positive. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (5.4%). In line with average of industry peers (4.2%). Tillkännagivande • Jun 29
Trigold Holdings Limited Announces the Cash Dividend, Payable on August 11, 2023 Trigold Holdings Limited announced the cash dividend of TWD 100,569,450 or TWD 1 per share. Ex-rights (Ex-dividend) date is July 14, 2023. Ex-rights (Ex-dividend) record date is July 22, 2023. Payment date of cash dividend distribution is August 11, 2023. Reported Earnings • Mar 11
Full year 2022 earnings released: EPS: NT$1.85 (vs NT$4.55 in FY 2021) Full year 2022 results: EPS: NT$1.85 (down from NT$4.55 in FY 2021). Revenue: NT$20.4b (up 8.2% from FY 2021). Net income: NT$186.5m (down 52% from FY 2021). Profit margin: 0.9% (down from 2.1% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
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. GM & Director Benson Chang was the last director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.33 (vs NT$1.13 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.33 (down from NT$1.13 in 3Q 2021). Revenue: NT$5.07b (up 8.5% from 3Q 2021). Net income: NT$33.5m (down 65% from 3Q 2021). Profit margin: 0.7% (down from 2.0% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Oct 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 27%. The fair value is estimated to be NT$26.09, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.4% over the last 3 years. Earnings per share has grown by 36%. Reported Earnings • Aug 10
Second quarter 2022 earnings released: EPS: NT$0.19 (vs NT$1.68 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.19 (down from NT$1.68 in 2Q 2021). Revenue: NT$4.79b (up 1.2% from 2Q 2021). Net income: NT$19.3m (down 86% from 2Q 2021). Profit margin: 0.4% (down from 2.8% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 30
Upcoming dividend of NT$1.60 per share Eligible shareholders must have bought the stock before 07 July 2022. Payment date: 12 August 2022. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 5.5%. Lower than top quartile of Taiwanese dividend payers (6.4%). Higher than average of industry peers (4.6%). Tillkännagivande • Jun 22
Trigold Holdings Limited Approves the Cash Dividend, Payable on August 12, 2022 Trigold Holdings Limited approved the cash dividend of TWD 160,911,120 or TWD 1.60 per share, record date is June 15, 2022, Ex-rights (Ex-dividend date is July 7, 2022 and payable on August 12, 2022. Reported Earnings • May 11
First quarter 2022 earnings released: EPS: NT$1.10 (vs NT$1.24 in 1Q 2021) First quarter 2022 results: EPS: NT$1.10. Revenue: NT$4.93b (up 15% from 1Q 2021). Net income: NT$110.2m (up 12% from 1Q 2021). Profit margin: 2.2% (down from 2.3% in 1Q 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$28.85, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 93% over the past three years. Board Change • Apr 27
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. Director Wenzhong Zhang was the last director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Mar 23
Trigold Holdings Limited, Annual General Meeting, Jun 16, 2022 Trigold Holdings Limited, Annual General Meeting, Jun 16, 2022, at 09:00 Taipei Standard Time. Location: B1, No.76, Sec. 1, Chenggong Rd., Nangang Dist. Taipei City Taiwan Agenda: To report the business of 2021; to consider Audit Committee's review of the 2021 annual final accounting ledgers and statements; to report 2021 employees' and directors' compensation; to accept 2021 Business Report and Financial Statements; to approve the proposal for distribution of 2021 profits; to revise the Procedures for Acquisition or Disposal of Assets; to revise the Articles of Incorporation; and to consider other matters. Reported Earnings • Feb 28
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$4.55 (up from NT$2.67 in FY 2020). Revenue: NT$18.8b (flat on FY 2020). Net income: NT$392.1m (up 85% from FY 2020). Profit margin: 2.1% (up from 1.1% in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Board Change • Jan 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. Director Wenzhong Zhang was the last director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 13
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. Director K.D Tseng was the last director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$1.11 (vs NT$0.94 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: NT$4.67b (down 19% from 3Q 2020). Net income: NT$95.3m (up 28% from 3Q 2020). Profit margin: 2.0% (up from 1.3% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 11
Investor sentiment improved over the past week After last week's 21% share price gain to NT$32.45, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 130% over the past three years. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS NT$1.68 (vs NT$0.64 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$4.73b (up 3.3% from 2Q 2020). Net income: NT$133.8m (up 162% from 2Q 2020). Profit margin: 2.8% (up from 1.1% in 2Q 2020). The increase in margin was driven by higher revenue. Upcoming Dividend • Jul 16
Upcoming dividend of NT$1.40 per share Eligible shareholders must have bought the stock before 23 July 2021. Payment date: 20 August 2021. Trailing yield: 4.9%. Within top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (2.9%). Reported Earnings • May 14
First quarter 2021 earnings released: EPS NT$1.24 (vs NT$0.35 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$4.28b (up 22% from 1Q 2020). Net income: NT$98.5m (up 252% from 1Q 2020). Profit margin: 2.3% (up from 0.8% in 1Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$2.67 (vs NT$1.82 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$18.8b (up 3.4% from FY 2019). Net income: NT$212.5m (up 47% from FY 2019). Profit margin: 1.1% (up from 0.8% 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 35% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Jan 18
New 90-day low: NT$21.85 The company is down 3.0% from its price of NT$22.55 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 Electronic industry, which is up 25% over the same period. Tillkännagivande • Dec 30
Trigold Holdings Limited Announces Executive Changes Trigold Holdings Limited announced the executive change: Name and resume of the previous position holder: (1) TRIGOLD HOLDINGS LIMITED General Manager: Huang Wei-Hsiang, Chairperson and General Manager of TRIGOLD HOLDINGS LIMITED. Name and resume of the new position holder: (1) TRIGOLD HOLDINGS LIMITED General Manager: Huang Wei-Hsiang, Chairperson and General Manager of TRIGOLD HOLDINGS LIMITED. Effective date of the new appointment on January 1, 2021. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.94 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$5.79b (up 16% from 3Q 2019). Net income: NT$74.4m (up 117% from 3Q 2019). Profit margin: 1.3% (up from 0.7% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Oct 27
New 90-day high: NT$23.20 The company is up 16% from its price of NT$20.00 on 29 July 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 1.0% over the same period. Tillkännagivande • Oct 27
Trigold Holdings Limited Announces Board Appointments for Subsidiary The board of directors of Trigold Holdings Limited approved to set up a subsidiary and the appointment of Directors and Chairperson. The new Directors are Huang Wei-Hsiang and Tsao Tai-Sun. New Chairperson is Tsao Tai-Sun. 
