Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$35.80, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 18x in the Tech industry in Taiwan. Total returns to shareholders of 32% over the past three years. Declared Dividend • Aug 07
Dividend of NT$0.45 announced Shareholders will receive a dividend of NT$0.45. Ex-date: 21st August 2026 Payment date: 24th September 2026 Dividend yield will be 1.1%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by both earnings (12% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 85% per year over the past 3 years. However, payments have been volatile during that time. Earnings per share has grown by 64% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Jun 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 22% 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: Minor Risks Shareholders have been diluted in the past year (22% increase in shares outstanding). Market cap is less than US$100m (NT$1.56b market cap, or US$49.4m). Reported Earnings • Jun 17
First quarter 2026 earnings released: EPS: NT$0.62 (vs NT$0.48 loss in 1Q 2025) First quarter 2026 results: EPS: NT$0.62 (up from NT$0.48 loss in 1Q 2025). Revenue: NT$174.5m (up 92% from 1Q 2025). Net income: NT$20.8m (up NT$33.9m from 1Q 2025). Profit margin: 12% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. New Risk • May 16
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 22% 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: Minor Risks Share price has been volatile over the past 3 months (10.0% average weekly change). Shareholders have been diluted in the past year (22% increase in shares outstanding). Market cap is less than US$100m (NT$1.51b market cap, or US$47.7m). Reported Earnings • Apr 26
Full year 2025 earnings released: EPS: NT$2.68 (vs NT$1.26 in FY 2024) Full year 2025 results: EPS: NT$2.68 (up from NT$1.26 in FY 2024). Revenue: NT$786.1m (up 26% from FY 2024). Net income: NT$80.0m (up 122% from FY 2024). Profit margin: 10% (up from 5.8% 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 76% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$41.40, the stock trades at a trailing P/E ratio of 21x. Average trailing P/E is 23x in the Tech industry in Taiwan. Negligible returns to shareholders over past three years. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$37.00, the stock trades at a trailing P/E ratio of 18.8x. Average trailing P/E is 22x in the Tech industry in Taiwan. Total loss to shareholders of 13% over the past three years. New Risk • Mar 11
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 7.6% 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: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (7.6% average weekly change). Market cap is less than US$100m (NT$927.7m market cap, or US$29.2m). Tillkännagivande • Mar 11
Qbic Technology Co., Ltd., Annual General Meeting, May 25, 2026 Qbic Technology Co., Ltd., Annual General Meeting, May 25, 2026, at 09:30 Taipei Standard Time. Location: no,350, sung chiang rd., jhongshan district, taipei city Taiwan 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). Market cap is less than US$100m (NT$879.3m market cap, or US$28.0m). New Risk • Jan 01
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: Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (NT$1.08b market cap, or US$34.3m). Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$56.90, the stock trades at a trailing P/E ratio of 35.5x. Average trailing P/E is 21x in the Tech industry in Taiwan. Total returns to shareholders of 153% over the past three years. Upcoming Dividend • Aug 04
Upcoming dividend of NT$0.15 per share Eligible shareholders must have bought the stock before 11 August 2025. Payment date: 15 October 2025. Payout ratio is a comfortable 9.7% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.6%). Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$47.50, the stock trades at a trailing P/E ratio of 29.6x. Average trailing P/E is 20x in the Tech industry in Taiwan. Total returns to shareholders of 110% over the past three years. New Risk • Jul 11
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 6.7% 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: Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (NT$843.7m market cap, or US$28.8m). Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$37.20, the stock trades at a trailing P/E ratio of 23.2x. Average trailing P/E is 19x in the Tech industry in Taiwan. Total returns to shareholders of 11% over the past three years. Tillkännagivande • Mar 31
Qbic Technology Co., Ltd., Annual General Meeting, Jun 27, 2025 Qbic Technology Co., Ltd., Annual General Meeting, Jun 27, 2025. Location: 3-2 floor no,2, sec.2 tun hua s. rd., da-an district, taipei city Taiwan New Risk • Mar 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 8.0% 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 (8.0% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (NT$756.0m market cap, or US$23.0m). 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 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: 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 (7.7% average weekly change). Market cap is less than US$100m (NT$744.7m market cap, or US$22.6m). New Risk • Jan 08
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 6.8% 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: Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Shareholders have been diluted in the past year (3.5% increase in shares outstanding). Market cap is less than US$100m (NT$716.4m market cap, or US$21.8m). New Risk • Nov 08
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: Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Shareholders have been diluted in the past year (3.5% increase in shares outstanding). Market cap is less than US$100m (NT$728.7m market cap, or US$22.7m). Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$46.00, the stock trades at a trailing P/E ratio of 19.3x. Average trailing P/E is 20x in the Tech industry in Taiwan. Total returns to shareholders of 16% over the past three years. Upcoming Dividend • Sep 03
Upcoming dividend of NT$0.07 per share Eligible shareholders must have bought the stock before 10 September 2024. Payment date: 25 October 2024. Payout ratio is a comfortable 2.9% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Taiwanese dividend payers (4.3%). Lower than average of industry peers (3.1%). Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment improves as stock rises 38% After last week's 38% share price gain to NT$53.40, the stock trades at a trailing P/E ratio of 78.5x. Average trailing P/E is 24x in the Tech industry in Taiwan. Total returns to shareholders of 28% over the past three years. Tillkännagivande • Apr 14
Qbic Technology Co., Ltd., Annual General Meeting, Jun 28, 2024 Qbic Technology Co., Ltd., Annual General Meeting, Jun 28, 2024. New Risk • Apr 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 25% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Shareholders have been diluted in the past year (3.4% increase in shares outstanding). Market cap is less than US$100m (NT$666.1m market cap, or US$20.7m). 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 25% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (NT$701.6m market cap, or US$22.2m). New Risk • Aug 17
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (8.7% average weekly change). Earnings have declined by 25% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (42% increase in shares outstanding). Market cap is less than US$100m (NT$725.3m market cap, or US$22.7m). New Risk • Jul 07
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 6.6% 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 High level of non-cash earnings (65% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Shareholders have been diluted in the past year (42% increase in shares outstanding). Market cap is less than US$100m (NT$648.7m market cap, or US$20.7m). Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$41.15, the stock trades at a trailing P/E ratio of 54.8x. Average trailing P/E is 20x in the Tech industry in Taiwan. Total returns to shareholders of 12% over the past year. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$50.40, the stock trades at a trailing P/E ratio of 67.1x. Average trailing P/E is 18x in the Tech industry in Taiwan. Total returns to shareholders of 14% over the past year. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$76.00, the stock trades at a trailing P/E ratio of 79.7x. Average trailing P/E is 11x in the Tech industry in Taiwan. Total returns to shareholders of 58% over the past year. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improved over the past week After last week's 23% share price gain to NT$57.80, the stock trades at a trailing P/E ratio of 60.6x. Average trailing P/E is 11x in the Tech industry in Taiwan. Total returns to shareholders of 26% over the past year. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improved over the past week After last week's 16% share price gain to NT$40.20, the stock trades at a trailing P/E ratio of 41.7x. Average trailing P/E is 11x in the Tech industry in Taiwan. Total loss to shareholders of 13% over the past year. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment deteriorated over the past week After last week's 18% share price decline to NT$32.25, the stock trades at a trailing P/E ratio of 42.9x. Average trailing P/E is 13x in the Tech industry in Taiwan. Total loss to shareholders of 38% over the past year. 
