Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$1,195, the stock trades at a trailing P/E ratio of 73.8x. Average trailing P/E is 26x in the Electronic industry in Taiwan. Total returns to shareholders of 2,620% over the past three years. Tillkännagivande • Mar 12
Grade Upon Technology Corp, Annual General Meeting, May 27, 2026 Grade Upon Technology Corp, Annual General Meeting, May 27, 2026, at 10:00 Taipei Standard Time. Location: no,1, sec.3 kung tao 5th rd., east district, hsinchu city Taiwan Reported Earnings • Mar 12
Full year 2025 earnings released: EPS: NT$16.13 (vs NT$6.03 in FY 2024) Full year 2025 results: EPS: NT$16.13 (up from NT$6.03 in FY 2024). Revenue: NT$805.6m (up 97% from FY 2024). Net income: NT$374.6m (up 194% from FY 2024). Profit margin: 47% (up from 31% 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 66% per year but the company’s share price has increased by 193% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Mar 08
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 9.7% 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 Share price has been highly volatile over the past 3 months (9.7% average weekly change). High level of non-cash earnings (93% accrual ratio). Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$836, the stock trades at a trailing P/E ratio of 70.4x. Average trailing P/E is 25x in the Electronic industry in Taiwan. Total returns to shareholders of 2,531% over the past three years. Valuation Update With 7 Day Price Move • Dec 04
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$755, the stock trades at a trailing P/E ratio of 63.5x. Average trailing P/E is 21x in the Electronic industry in Taiwan. Total returns to shareholders of 2,252% over the past three years. Reported Earnings • Nov 11
Third quarter 2025 earnings released: EPS: NT$4.40 (vs NT$1.77 in 3Q 2024) Third quarter 2025 results: EPS: NT$4.40 (up from NT$1.77 in 3Q 2024). Revenue: NT$222.6m (up 103% from 3Q 2024). Net income: NT$102.0m (up 172% from 3Q 2024). Profit margin: 46% (up from 34% 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 65% per year but the company’s share price has increased by 164% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 10
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$680, the stock trades at a trailing P/E ratio of 74.8x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 1,767% over the past three years. Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$577, the stock trades at a trailing P/E ratio of 63.5x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 1,563% over the past three years. Reported Earnings • Aug 17
Second quarter 2025 earnings released: EPS: NT$3.03 (vs NT$1.60 in 2Q 2024) Second quarter 2025 results: EPS: NT$3.03 (up from NT$1.60 in 2Q 2024). Revenue: NT$179.7m (up 79% from 2Q 2024). Net income: NT$70.2m (up 118% from 2Q 2024). Profit margin: 39% (up from 32% 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 68% per year but the company’s share price has increased by 138% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Aug 13
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% 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 (9.5% average weekly change). High level of non-cash earnings (180% accrual ratio). Minor Risk Shareholders have been diluted in the past year (16% increase in shares outstanding). Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$482, the stock trades at a trailing P/E ratio of 64.6x. Average trailing P/E is 20x in the Electronic industry in Taiwan. Total returns to shareholders of 1,483% over the past three years. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$476, the stock trades at a trailing P/E ratio of 63.9x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 1,528% over the past three years. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$314, the stock trades at a trailing P/E ratio of 42.1x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 1,030% over the past three years. Declared Dividend • May 29
Dividend of NT$5.00 announced Shareholders will receive a dividend of NT$5.00. Ex-date: 13th June 2025 Payment date: 11th July 2025 Dividend yield will be 2.0%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (64% earnings payout ratio) and cash flows (85% cash payout ratio). The dividend has increased by an average of 112% per year over the past 2 years. However, payments have been volatile during that time. Earnings per share has grown by 63% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • May 27
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 180% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. 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). High level of non-cash earnings (180% accrual ratio). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • Apr 30
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$240, the stock trades at a trailing P/E ratio of 43.5x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 709% over the past three years. New Risk • Apr 08
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.8% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. 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 Risk Share price has been highly volatile over the past 3 months (9.5% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$177, the stock trades at a trailing P/E ratio of 32.1x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 491% over the past three years. Buy Or Sell Opportunity • Apr 05
Now 20% undervalued Over the last 90 days, the stock has risen 12% to NT$218. The fair value is estimated to be NT$274, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 71%. Reported Earnings • Apr 02
Full year 2024 earnings released: EPS: NT$6.03 (vs NT$2.56 in FY 2023) Full year 2024 results: EPS: NT$6.03 (up from NT$2.56 in FY 2023). Revenue: NT$409.6m (up 61% from FY 2023). Net income: NT$127.5m (up 156% from FY 2023). Profit margin: 31% (up from 20% in FY 2023). The increase in margin 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 increased by 90% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Mar 13
Grade Upon Technology Corp, Annual General Meeting, May 27, 2025 Grade Upon Technology Corp, Annual General Meeting, May 27, 2025, at 10:00 Taipei Standard Time. Location: no,1, sec.3 kung tao 5th rd., east district, hsinchu city Taiwan Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$254, the stock trades at a trailing P/E ratio of 57.9x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 800% over the past three years. New Risk • Mar 02
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 7.9% 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. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Feb 14
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 40% to NT$280. The fair value is estimated to be NT$230, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 72%. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to NT$255, the stock trades at a trailing P/E ratio of 58x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 803% over the past three years. Buy Or Sell Opportunity • Jan 03
Now 21% undervalued Over the last 90 days, the stock has risen 18% to NT$194. The fair value is estimated to be NT$245, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 72%. Buy Or Sell Opportunity • Dec 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.4% to NT$194. The fair value is estimated to be NT$244, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 72%. Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$222, the stock trades at a trailing P/E ratio of 68.7x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 567% over the past three years. New Risk • Oct 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% 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 No financial data reported. Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk Shareholders have been diluted in the past year (15% increase in shares outstanding). New Risk • Aug 08
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 9.7% 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 No financial data reported. Share price has been highly volatile over the past 3 months (9.7% average weekly change). Minor Risk Market cap is less than US$100m (NT$3.09b market cap, or US$95.5m). New Risk • Jun 26
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 6.4% 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 No financial data reported. Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Market cap is less than US$100m (NT$2.11b market cap, or US$64.7m). Tillkännagivande • Mar 15
Grade Upon Technology Corp, Annual General Meeting, May 31, 2024 Grade Upon Technology Corp, Annual General Meeting, May 31, 2024. New Risk • Feb 20
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 Risk No financial data reported. Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Shareholders have been diluted in the past year (12% increase in shares outstanding). Market cap is less than US$100m (NT$1.43b market cap, or US$45.5m). New Risk • Oct 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 5.7% 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 No financial data reported. Minor Risks Share price has been volatile over the past 3 months (5.7% average weekly change). Shareholders have been diluted in the past year (12% increase in shares outstanding). Market cap is less than US$100m (NT$1.04b market cap, or US$32.3m). Tillkännagivande • Apr 10
Grade Upon Technology Corp, Annual General Meeting, Jun 30, 2022 Grade Upon Technology Corp, Annual General Meeting, Jun 30, 2022.