Reported Earnings • Aug 14
Second quarter 2026 earnings released: EPS: NT$0.36 (vs NT$0.46 loss in 2Q 2025) Second quarter 2026 results: EPS: NT$0.36 (up from NT$0.46 loss in 2Q 2025). Revenue: NT$509.6m (up 5.7% from 2Q 2025). Net income: NT$24.4m (up NT$55.7m from 2Q 2025). Profit margin: 4.8% (up from net loss in 2Q 2025). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. New Risk • Jul 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.23b (US$99.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 39% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (NT$3.23b market cap, or US$99.8m). Upcoming Dividend • Jun 09
Upcoming dividend of NT$0.15 per share Eligible shareholders must have bought the stock before 16 June 2026. Payment date: 10 July 2026. Payout ratio is a comfortable 61% but the company is not cash flow positive. Trailing yield: 0.2%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (1.3%). New Risk • May 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 27% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 39% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Reported Earnings • May 12
First quarter 2026 earnings released First quarter 2026 results: Revenue: NT$444.5m (up 2.3% from 1Q 2025). Net income: NT$19.0m (up 280% from 1Q 2025). Profit margin: 4.3% (up from 1.1% in 1Q 2025). Reported Earnings • Mar 24
Full year 2025 earnings released: EPS: NT$0.04 (vs NT$0.40 in FY 2024) Full year 2025 results: EPS: NT$0.04 (down from NT$0.40 in FY 2024). Revenue: NT$1.74b (up 16% from FY 2024). Net income: NT$2.78m (down 90% from FY 2024). Profit margin: 0.2% (down from 1.8% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 107 percentage points per year, which is a significant difference in performance. Tillkännagivande • Mar 11
Taitien Electronics Co., Ltd., Annual General Meeting, May 29, 2026 Taitien Electronics Co., Ltd., Annual General Meeting, May 29, 2026. Location: no,5, shu t`an st., shulin district, new taipei city Taiwan New Risk • Feb 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 18% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (NT$1.86b market cap, or US$58.9m). Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: NT$0.15 (vs NT$0.26 loss in 3Q 2024) Third quarter 2025 results: EPS: NT$0.15 (up from NT$0.26 loss in 3Q 2024). Revenue: NT$390.7m (up 11% from 3Q 2024). Net income: NT$10.2m (up NT$27.7m from 3Q 2024). Profit margin: 2.6% (up from net loss in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 15
Second quarter 2025 earnings released: NT$0.46 loss per share (vs NT$0.19 profit in 2Q 2024) Second quarter 2025 results: NT$0.46 loss per share (down from NT$0.19 profit in 2Q 2024). Revenue: NT$482.1m (up 26% from 2Q 2024). Net loss: NT$31.3m (down 347% from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Declared Dividend • Aug 09
Dividend reduced to NT$0.30 Dividend of NT$0.30 is 70% lower than last year. Ex-date: 26th August 2025 Payment date: 24th September 2025 Dividend yield will be 1.5%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is not covered by earnings (194% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 116% to bring the payout ratio under control, which is more than the 5.6% EPS growth achieved over the last 5 years. New Risk • May 14
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 27% 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 Risk High level of non-cash earnings (27% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (0.7% net profit margin). Market cap is less than US$100m (NT$1.48b market cap, or US$48.7m). Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$18.40, the stock trades at a trailing P/E ratio of 45.9x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total loss to shareholders of 39% over the past three years. Reported Earnings • Mar 28
Full year 2024 earnings released: EPS: NT$0.40 (vs NT$1.29 in FY 2023) Full year 2024 results: EPS: NT$0.40 (down from NT$1.29 in FY 2023). Revenue: NT$1.50b (down 4.9% from FY 2023). Net income: NT$27.4m (down 69% from FY 2023). Profit margin: 1.8% (down from 5.6% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Tillkännagivande • Mar 14
Taitien Electronics Co., Ltd., Annual General Meeting, Jun 10, 2025 Taitien Electronics Co., Ltd., Annual General Meeting, Jun 10, 2025. Location: no,5, shu t`an st., shulin district, new taipei city Taiwan Reported Earnings • Nov 18
Third quarter 2024 earnings released: NT$0.26 loss per share (vs NT$0.40 profit in 3Q 2023) Third quarter 2024 results: NT$0.26 loss per share (down from NT$0.40 profit in 3Q 2023). Revenue: NT$350.8m (up 6.6% from 3Q 2023). Net loss: NT$17.5m (down 164% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. New Risk • Nov 18
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (dividend per share is over 45x earnings per share). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.1% net profit margin). Market cap is less than US$100m (NT$1.63b market cap, or US$50.2m). Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.19 (vs NT$0.27 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.19 (down from NT$0.27 in 2Q 2023). Revenue: NT$384.1m (down 4.2% from 2Q 2023). Net income: NT$12.7m (down 31% from 2Q 2023). Profit margin: 3.3% (down from 4.6% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Declared Dividend • Aug 10
Dividend reduced to NT$1.00 Dividend of NT$1.00 is 71% lower than last year. Ex-date: 27th August 2024 Payment date: 25th September 2024 Dividend yield will be 3.8%, which is about the same as the industry average. Sustainability & Growth Dividend is not covered by earnings (132% earnings payout ratio). However, it is well covered by cash flows (34% cash payout ratio). The dividend has increased by an average of 6.1% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 47% to bring the payout ratio under control. However, EPS has declined by 19% over the last 5 years so the company would need to reverse this trend. Tillkännagivande • Aug 10
Taitien Electronics Co., Ltd. Announces Cash Dividend, Payable on September 25, 2024 Taitien Electronics Co., Ltd. announced cash dividends to shareholders were TWD 58,083,700, with a distribution of TWD 0.85 per share. Cash distributed from capital of TWD 10,250,065, with a distribution of TWD 0.15 per share. Ex-rights (ex-dividend) trading date: August 27, 2024. Ex-rights (ex-dividend) record date: September 2, 2024. The common stock cash dividend distribution payment date is September 25, 2024. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$24.30, the stock trades at a trailing P/E ratio of 32.1x. Average trailing P/E is 22x in the Electronic industry in Taiwan. Total returns to shareholders of 6.6% over the past three years. Tillkännagivande • Aug 02
Taitien Electronics Co., Ltd. to Report Q2, 2024 Results on Aug 08, 2024 Taitien Electronics Co., Ltd. announced that they will report Q2, 2024 results on Aug 08, 2024 Reported Earnings • May 12
First quarter 2024 earnings released: EPS: NT$0.32 (vs NT$0.85 in 1Q 2023) First quarter 2024 results: EPS: NT$0.32 (down from NT$0.85 in 1Q 2023). Revenue: NT$392.5m (down 24% from 1Q 2023). Net income: NT$21.8m (down 63% from 1Q 2023). Profit margin: 5.6% (down from 11% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Apr 28
Taitien Electronics Co., Ltd. to Report Q1, 2024 Results on May 03, 2024 Taitien Electronics Co., Ltd. announced that they will report Q1, 2024 results on May 03, 2024 Reported Earnings • Mar 28
Full year 2023 earnings released: EPS: NT$1.29 (vs NT$5.25 in FY 2022) Full year 2023 results: EPS: NT$1.29 (down from NT$5.25 in FY 2022). Revenue: NT$1.58b (down 33% from FY 2022). Net income: NT$88.2m (down 75% from FY 2022). Profit margin: 5.6% (down from 15% 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 28% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$36.90, the stock trades at a trailing P/E ratio of 18x. Average trailing P/E is 22x in the Electronic industry in Taiwan. Total returns to shareholders of 254% over the past three years. New Risk • Nov 25
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 7.9% Last year net profit margin: 16% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (171% payout ratio). Profit margins are more than 30% lower than last year (7.9% net profit margin). Market cap is less than US$100m (NT$2.33b market cap, or US$73.7m). Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$34.70, the stock trades at a trailing P/E ratio of 10.3x. Average trailing P/E is 20x in the Electronic industry in Taiwan. Total returns to shareholders of 257% over the past three years. New Risk • Nov 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 5.9% 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 Dividend is not well covered by earnings (104% payout ratio). Share price has been volatile over the past 3 months (5.9% average weekly change). Market cap is less than US$100m (NT$2.28b market cap, or US$72.1m). Buying Opportunity • Aug 25
Now 29% undervalued after recent price drop Over the last 90 days, the stock is down 20%. The fair value is estimated to be NT$46.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company has become profitable. Upcoming Dividend • Aug 18
Upcoming dividend of NT$3.50 per share at 9.7% yield Eligible shareholders must have bought the stock before 25 August 2023. Payment date: 22 September 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 9.7%. Within top quartile of Taiwanese dividend payers (5.6%). Higher than average of industry peers (4.2%). Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: NT$0.27 (vs NT$1.73 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.27 (down from NT$1.73 in 2Q 2022). Revenue: NT$401.1m (down 37% from 2Q 2022). Net income: NT$18.3m (down 85% from 2Q 2022). Profit margin: 4.6% (down from 19% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Aug 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 6.4%. The fair value is estimated to be NT$46.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Mar 31
Full year 2022 earnings released: EPS: NT$5.25 (vs NT$3.12 in FY 2021) Full year 2022 results: EPS: NT$5.25 (up from NT$3.12 in FY 2021). Revenue: NT$2.37b (up 4.4% from FY 2021). Net income: NT$358.9m (up 68% from FY 2021). Profit margin: 15% (up from 9.4% in FY 2021). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 69% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$51.00, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 444% over the past three years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$48.05, the stock trades at a trailing P/E ratio of 8.3x. Average trailing P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 346% over the past three years. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$1.72 (vs NT$1.07 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.72 (up from NT$1.07 in 3Q 2021). Revenue: NT$616.5m (down 2.9% from 3Q 2021). Net income: NT$117.4m (up 61% from 3Q 2021). Profit margin: 19% (up from 12% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 116% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$1.72 (vs NT$1.07 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.72 (up from NT$1.07 in 3Q 2021). Revenue: NT$616.5m (down 2.9% from 3Q 2021). Net income: NT$117.4m (up 61% from 3Q 2021). Profit margin: 19% (up from 12% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 116% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$28.50, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 137% over the past three years. Upcoming Dividend • Aug 19
Upcoming dividend of NT$2.10 per share Eligible shareholders must have bought the stock before 26 August 2022. Payment date: 23 September 2022. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 5.1%. Lower than top quartile of Taiwanese dividend payers (6.5%). Higher than average of industry peers (4.4%). Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$1.73 (vs NT$0.71 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.73 (up from NT$0.71 in 2Q 2021). Revenue: NT$634.7m (up 16% from 2Q 2021). Net income: NT$118.5m (up 143% from 2Q 2021). Profit margin: 19% (up from 8.9% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 16% share price gain to NT$40.60, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 241% over the past three years. Reported Earnings • May 17
First quarter 2022 earnings released: EPS: NT$1.27 (vs NT$0.30 in 1Q 2021) First quarter 2022 results: EPS: NT$1.27 (up from NT$0.30 in 1Q 2021). Revenue: NT$595.0m (up 36% from 1Q 2021). Net income: NT$86.8m (up 323% from 1Q 2021). Profit margin: 15% (up from 4.7% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 28
Full year 2021 earnings released: EPS: NT$3.12 (vs NT$0.065 in FY 2020) Full year 2021 results: EPS: NT$3.12 (up from NT$0.065 in FY 2020). Revenue: NT$2.27b (up 43% from FY 2020). Net income: NT$213.2m (up NT$208.8m from FY 2020). Profit margin: 9.4% (up from 0.3% 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 14% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment improved over the past week After last week's 19% share price gain to NT$38.65, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 222% over the past three years. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$1.07 (vs NT$0.13 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$634.6m (up 41% from 3Q 2020). Net income: NT$72.9m (up NT$81.5m from 3Q 2020). Profit margin: 12% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$27.50, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 145% over the past three years. Upcoming Dividend • Sep 07
Upcoming dividend of NT$0.12 per share Eligible shareholders must have bought the stock before 14 September 2021. Payment date: 14 October 2021. Trailing yield: 0.4%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (3.2%). Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improved over the past week After last week's 20% share price gain to NT$31.00, the stock trades at a trailing P/E ratio of 29.1x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 135% over the past three years. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$0.71 (vs NT$0.11 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$546.1m (up 31% from 2Q 2020). Net income: NT$48.7m (up NT$41.3m from 2Q 2020). Profit margin: 8.9% (up from 1.8% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 29% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment improved over the past week After last week's 16% share price gain to NT$27.45, the stock trades at a trailing P/E ratio of 59.7x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 146% over the past three years. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improved over the past week After last week's 20% share price gain to NT$24.20, the stock trades at a trailing P/E ratio of 52.7x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 122% over the past three years. Valuation Update With 7 Day Price Move • May 24
Investor sentiment improved over the past week After last week's 26% share price gain to NT$17.90, the stock trades at a trailing P/E ratio of 38.5x. Average trailing P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 76% over the past three years. Reported Earnings • May 16
First quarter 2021 earnings released: EPS NT$0.30 (vs NT$0.095 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$437.1m (up 39% from 1Q 2020). Net income: NT$20.5m (up NT$27.0m from 1Q 2020). Profit margin: 4.7% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS NT$0.06 (vs NT$0.28 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.58b (up 3.4% from FY 2019). Net income: NT$4.41m (up NT$24.9m from FY 2019). Profit margin: 0.3% (up from net loss in FY 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 13
New 90-day high: NT$12.70 The company is up 9.0% from its price of NT$11.70 on 11 December 2020. The Taiwanese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 17% over the same period. Is New 90 Day High Low • Dec 30
New 90-day high: NT$12.20 The company is up 5.0% from its price of NT$11.65 on 30 September 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 16% over the same period. Is New 90 Day High Low • Nov 24
New 90-day low: NT$11.35 The company is down 4.0% from its price of NT$11.85 on 26 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 4.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: NT$0.12 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: NT$449.5m (down 3.2% from 3Q 2019). Net loss: NT$8.63m (down 141% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 29
New 90-day low: NT$11.50 The company is down 8.0% from its price of NT$12.55 on 31 July 2020. The Taiwanese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 2.0% over the same period. 
