Board Change • Jul 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. Independent Director Kun-Cheng Chao was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • Jun 26
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.11b (US$97.7m) 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 46% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (dividend per share is over 8x cash flows per share). Market cap is less than US$100m (NT$3.11b market cap, or US$97.7m). Declared Dividend • Jun 11
Dividend reduced to NT$1.00 Dividend of NT$1.00 is 41% lower than last year. Ex-date: 26th June 2026 Payment date: 20th July 2026 Dividend yield will be 2.8%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (55% earnings payout ratio) but not covered by cash flows (dividend approximately 8x free cash flows). The dividend has increased by an average of 17% 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 decline by 39% to shift the payout ratio to a potentially unsustainable range, which is more than the 30% EPS decline seen over the last 5 years. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$34.80, the stock trades at a trailing P/E ratio of 19.1x. Average trailing P/E is 43x in the Electronic industry in Taiwan. Total loss to shareholders of 7.4% over the past three years. Reported Earnings • May 09
First quarter 2026 earnings released: EPS: NT$0.70 (vs NT$0.014 in 1Q 2025) First quarter 2026 results: EPS: NT$0.70 (up from NT$0.014 in 1Q 2025). Revenue: NT$689.1m (up 24% from 1Q 2025). Net income: NT$65.0m (up NT$63.7m from 1Q 2025). Profit margin: 9.4% (up from 0.2% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 33% 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. Valuation Update With 7 Day Price Move • May 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$43.10, the stock trades at a trailing P/E ratio of 38.1x. Average trailing P/E is 28x in the Electronic industry in Taiwan. Total returns to shareholders of 11% over the past three years. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$39.30, the stock trades at a trailing P/E ratio of 34.7x. Average trailing P/E is 26x in the Electronic industry in Taiwan. Total loss to shareholders of 5.7% over the past three years. Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: NT$1.13 (vs NT$2.04 in FY 2024) Full year 2025 results: EPS: NT$1.13 (down from NT$2.04 in FY 2024). Revenue: NT$2.53b (down 3.1% from FY 2024). Net income: NT$105.2m (down 45% from FY 2024). Profit margin: 4.2% (down from 7.3% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Tillkännagivande • Mar 05
AVer Information Inc., Annual General Meeting, Jun 09, 2026 AVer Information Inc., Annual General Meeting, Jun 09, 2026, at 09:00 Taipei Standard Time. Location: 1 floor no,157, ta an rd., tucheng district, new taipei city Taiwan New Risk • Feb 06
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 7.2% 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 335% Cash payout ratio: 139% Earnings have declined by 41% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.2% average weekly change). Profit margins are more than 30% lower than last year (1.9% net profit margin). Market cap is less than US$100m (NT$3.12b market cap, or US$98.5m). Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to NT$40.40, the stock trades at a trailing P/E ratio of 79.7x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Negligible returns to shareholders over past three years. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$34.90, the stock trades at a trailing P/E ratio of 68.8x. Average trailing P/E is 22x in the Electronic industry in Taiwan. Total loss to shareholders of 16% over the past three years. Reported Earnings • Nov 09
Third quarter 2025 earnings released: EPS: NT$0.69 (vs NT$0.70 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.69 (down from NT$0.70 in 3Q 2024). Revenue: NT$635.0m (down 12% from 3Q 2024). Net income: NT$63.9m (down 1.6% from 3Q 2024). Profit margin: 10% (up from 9.0% in 3Q 2024). The increase in margin was driven by lower expenses. 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 11% per year, which means it has not declined as severely as earnings. New Risk • Aug 22
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.05b (US$99.9m) 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 328% Cash payout ratio: 151% Earnings have declined by 32% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (1.9% net profit margin). Market cap is less than US$100m (NT$3.05b market cap, or US$99.9m). Reported Earnings • Aug 09
Second quarter 2025 earnings released: NT$0.43 loss per share (vs NT$0.91 profit in 2Q 2024) Second quarter 2025 results: NT$0.43 loss per share (down from NT$0.91 profit in 2Q 2024). Revenue: NT$684.7m (down 6.5% from 2Q 2024). Net loss: NT$40.0m (down 147% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. New Risk • Jul 14
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$2.92b (US$99.6m) 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 23% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (92% payout ratio). Profit margins are more than 30% lower than last year (6.7% net profit margin). Market cap is less than US$100m (NT$2.92b market cap, or US$99.6m). Buy Or Sell Opportunity • Jun 27
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to NT$33.15. The fair value is estimated to be NT$41.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.6% over the last 3 years. Earnings per share has declined by 35%. Declared Dividend • Jun 13
Dividend increased to NT$1.70 Dividend of NT$1.70 is 27% higher than last year. Ex-date: 27th June 2025 Payment date: 23rd July 2025 Dividend yield will be 5.1%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is not adequately covered by earnings (92% earnings payout ratio). However, it is covered by cash flows (56% cash payout ratio). The dividend has increased by an average of 16% 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 1.8% to bring the payout ratio under control, which is less than the 4.3% EPS growth achieved over the last 5 years. Buy Or Sell Opportunity • May 29
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 21% to NT$33.75. The fair value is estimated to be NT$42.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.6% over the last 3 years. Earnings per share has declined by 35%. Reported Earnings • May 09
First quarter 2025 earnings released: EPS: NT$0.01 (vs NT$0.20 in 1Q 2024) First quarter 2025 results: EPS: NT$0.01 (down from NT$0.20 in 1Q 2024). Revenue: NT$558.0m (down 5.7% from 1Q 2024). Net income: NT$1.32m (down 93% from 1Q 2024). Profit margin: 0.2% (down from 3.1% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 36% 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 • May 01
AVer Information Inc. to Report Q1, 2025 Results on May 07, 2025 AVer Information Inc. announced that they will report Q1, 2025 results on May 07, 2025 Buy Or Sell Opportunity • Apr 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 31% to NT$28.60. The fair value is estimated to be NT$36.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Earnings per share has declined by 40%. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$31.75, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total loss to shareholders of 30% over the past three years. New Risk • Apr 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.28b (US$99.1m) 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 16% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (NT$3.28b market cap, or US$99.1m). Reported Earnings • Mar 20
Full year 2024 earnings released: EPS: NT$2.04 (vs NT$2.69 in FY 2023) Full year 2024 results: EPS: NT$2.04 (down from NT$2.69 in FY 2023). Revenue: NT$2.61b (up 5.0% from FY 2023). Net income: NT$189.5m (down 24% from FY 2023). Profit margin: 7.3% (down from 10% in FY 2023). 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 only fallen by 8% per year, which means it has not declined as severely as earnings. Tillkännagivande • Mar 07
AVer Information Inc., Annual General Meeting, Jun 11, 2025 AVer Information Inc., Annual General Meeting, Jun 11, 2025, at 09:00 Taipei Standard Time. Location: 1 floor no,157, ta an rd., tucheng district, new taipei city Taiwan Tillkännagivande • Mar 06
AVer Information Inc. Proposes Dividend for the Period January 01, 2024 to December 31, 2024 The Board of Directors of AVer Information Inc. approved a proposal to distribute dividend of TWD 1.70 per share or total dividend of TWD 157,963,915 for the period January 01, 2024 to December 31, 2024. Tillkännagivande • Feb 26
AVer Information Inc. to Report Fiscal Year 2024 Results on Mar 05, 2025 AVer Information Inc. announced that they will report fiscal year 2024 results on Mar 05, 2025 New Risk • Dec 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • Nov 09
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 119% 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 Risk Earnings have declined by 8.2% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Nov 09
Third quarter 2024 earnings released: EPS: NT$0.70 (vs NT$0.67 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.70 (up from NT$0.67 in 3Q 2023). Revenue: NT$724.8m (up 9.1% from 3Q 2023). Net income: NT$64.9m (up 4.2% from 3Q 2023). Profit margin: 9.0% (down from 9.4% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Tillkännagivande • Oct 25
AVer Information Inc. to Report Q3, 2024 Results on Nov 01, 2024 AVer Information Inc. announced that they will report Q3, 2024 results on Nov 01, 2024 Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: NT$0.91 (vs NT$1.82 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.91 (down from NT$1.82 in 2Q 2023). Revenue: NT$732.0m (up 3.7% from 2Q 2023). Net income: NT$84.3m (down 50% from 2Q 2023). Profit margin: 12% (down from 24% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. New Risk • Aug 05
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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.0% average weekly change). Large one-off items impacting financial results. Tillkännagivande • Jul 26
AVer Information Inc. to Report Q2, 2024 Results on Aug 02, 2024 AVer Information Inc. announced that they will report Q2, 2024 results on Aug 02, 2024 Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$60.50, the stock trades at a trailing P/E ratio of 19.4x. Average trailing P/E is 25x in the Electronic industry in Taiwan. Total loss to shareholders of 11% over the past three years. Declared Dividend • Jun 14
Dividend reduced to NT$1.34 Dividend of NT$1.34 is 6.3% lower than last year. Ex-date: 28th June 2024 Payment date: 24th July 2024 Dividend yield will be 2.6%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is well covered by both earnings (43% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 106% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Tillkännagivande • Jun 14
Aver Information Inc. Approves the Cash Dividend for the Year 2023, Payable on July 24, 2024 AVer Information Inc. announced that at its shareholders meeting held on June 12, 2024, approved the cash dividend of TWD 124,512,733 for common shares at TWD 1.34 per share for the year 2023. Ex-rights (ex-dividend) trading date: June 28, 2024. Ex-rights (ex-dividend) record date: July 6, 2024. Payment date of common stock cash dividend distribution: July 24, 2024. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.20 (vs NT$0.22 loss in 1Q 2023) First quarter 2024 results: EPS: NT$0.20 (up from NT$0.22 loss in 1Q 2023). Revenue: NT$591.6m (up 9.1% from 1Q 2023). Net income: NT$18.4m (up NT$39.2m from 1Q 2023). Profit margin: 3.1% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 55% 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. Buy Or Sell Opportunity • Apr 15
Now 21% undervalued Over the last 90 days, the stock has risen 8.5% to NT$49.00. The fair value is estimated to be NT$61.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 22% over the last 3 years. Earnings per share has declined by 52%. New Risk • Mar 27
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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results. New Risk • Mar 22
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 109% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: NT$2.69 (vs NT$3.58 in FY 2022) Full year 2023 results: EPS: NT$2.69 (down from NT$3.58 in FY 2022). Revenue: NT$2.48b (down 17% from FY 2022). Net income: NT$250.0m (down 25% from FY 2022). Profit margin: 10% (down from 11% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$58.50, the stock trades at a trailing P/E ratio of 23.7x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total loss to shareholders of 7.4% over the past three years. New Risk • Nov 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 119% 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 Risk Share price has been highly volatile over the past 3 months (7.5% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. New Risk • Oct 06
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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (9.9% net profit margin). Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$48.35, the stock trades at a trailing P/E ratio of 17x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total loss to shareholders of 47% over the past three years. New Risk • Aug 21
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 95% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (9.9% net profit margin). Reported Earnings • Aug 08
Second quarter 2023 earnings released: EPS: NT$1.82 (vs NT$1.46 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.82 (up from NT$1.46 in 2Q 2022). Revenue: NT$706.1m (down 22% from 2Q 2022). Net income: NT$169.4m (up 25% from 2Q 2022). Profit margin: 24% (up from 15% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jun 20
Upcoming dividend of NT$1.43 per share at 3.4% yield Eligible shareholders must have bought the stock before 27 June 2023. Payment date: 19 July 2023. Payout ratio is a comfortable 58% but the company is paying out more than the cash it is generating. Trailing yield: 3.4%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.2%). Reported Earnings • May 10
First quarter 2023 earnings released: NT$0.22 loss per share (vs NT$0.88 profit in 1Q 2022) First quarter 2023 results: NT$0.22 loss per share (down from NT$0.88 profit in 1Q 2022). Revenue: NT$542.0m (down 20% from 1Q 2022). Net loss: NT$20.8m (down 125% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Reported Earnings • Mar 28
Full year 2022 earnings released: EPS: NT$3.58 (vs NT$7.02 in FY 2021) Full year 2022 results: EPS: NT$3.58 (down from NT$7.02 in FY 2021). Revenue: NT$3.01b (down 18% from FY 2021). Net income: NT$332.8m (down 49% from FY 2021). Profit margin: 11% (down from 18% in FY 2021). The decrease in margin was driven by lower 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 21% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Dec 14
Investor sentiment improved over the past week After last week's 18% share price gain to NT$50.60, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 254% over the past three years. Reported Earnings • Nov 09
Third quarter 2022 earnings released: EPS: NT$1.05 (vs NT$1.90 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.05 (down from NT$1.90 in 3Q 2021). Revenue: NT$794.9m (down 14% from 3Q 2021). Net income: NT$97.2m (down 45% from 3Q 2021). Profit margin: 12% (down from 19% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 35% per year. Buying Opportunity • Nov 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 1.4%. The fair value is estimated to be NT$51.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 52%. Buying Opportunity • Sep 07
Now 27% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be NT$61.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 52%. Tillkännagivande • Sep 03
Aver Information Inc. Announces Director Changes AVer Information Inc. announced that LIN CHIEN LIANG (President of Computing Products Business Group, Wistron) has replaced LIN CHIEN HSUN as director, effective September 1, 2022. Reported Earnings • Aug 12
Second quarter 2022 earnings released: EPS: NT$1.45 (vs NT$2.11 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.45 (down from NT$2.11 in 2Q 2021). Revenue: NT$908.7m (down 11% from 2Q 2021). Net income: NT$135.2m (down 31% from 2Q 2021). Profit margin: 15% (down from 19% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Aug 02
AVer Information Inc Introduces Revolutionary Detachable Medical Grade Cameras AVer Information Inc. introduce its Connected Health Solutions, which was created from AVer's dedication in understanding and contributing to the needs of the healthcare industry. Aiming to discover unmet needs and reduce overall cost for healthcare systems, AVer launches its newest Medical Grade PTZ Cameras, the MD330U and MD330UI, as the trend for Telemedicine, patient monitoring, and Live Surgery Broadcast continues to grow. With the intention of creating intuitive user interface and patient-centered design in mind, AVer's MD330U Series camera features the world's first detachable 4K 8MP handheld camera head for doctors to perform patient assessment accurately within the context of Telemedicine, and the AI Acoustics embedded on the integrated microphone and speaker for seamless two-way communications between patients, physicians, and even family members from outside the hospital. During the pandemic, AVer's PTZ Cameras were used at the intensive care units of a hospital in New Taipei City, Taiwan, in which medical staffs were able to monitor the physiological symptoms of their patients through the camera remotely, reducing unnecessary entries into patients' wards and minimizing the overall risk of infections. With the release of the MD330U Series camera, it further proves AVer's commitment to develop medical grade equipment that are safe for use in healthcare environments. Further demonstrating as highly versatile solutions for Telemedicine and patient monitoring, AVer's MD330U and MD330UI Medical Grade PTZ cameras were well received and won several awards, including the 2022 NAB Show Product of the Year Awards and an AV Technology Best of InfoComm 2022 Award. These official awards recognize the most significant and promising new products and technologies showcased at their respective program. Tillkännagivande • Jul 19
AVer Unveils VC550, 4K Dual Lens PTZ Conferencing Camera AVer Information Inc. announced the AVer VC550, a 4K dual lens conference camera with scalable speakerphone technology. The VC550 combines automated PTZ functionality, dynamic framing technology and Smart Gallery capabilities to create a reliable and versatile solution for medium to large rooms. Designed for medium to large conference rooms, the VC550 delivers unprecedented audiovisual quality to empower impactful collaboration experiences. The VC550 boasts 4K dual lens technology with 12X optical zoom (24X total zoom) to offer precise and clear viewing of meeting rooms and participants. Featuring dynamic framing technology, the VC550 is equipped with an AI lens for automated PTZ functionality to deliver a full view of meeting attendees and seamlessly detect meeting newcomers. AVer’s Smart Gallery technology captures attendees, enabling AI technology to crop participants’ faces and ensure everyone is visible. Users can choose headshots or half-body mode to adapt to any meeting situation. The VC550 is embedded with daisy-chain technology to enable the device to expand by adding up to four additional microphones or two speakerphones to provide full coverage in medium to large rooms. Utilizing AVer’s FONE540, users can silence background noises and guarantee unmatched audio clarity. The FONE540 features double-talk detection to deliver flawless audio for fluid communication. Tillkännagivande • Jul 07
AVer Information Inc. USA Reveals its First Ever Conferencing Room Content Camera AVer Information Inc. USA revealed its first ever conferencing room content camera. The CAM130 Content Camera is an unprecedented addition to any virtual conferencing room, offering clear imaging and special features to support the quality sharing of whiteboard or flat panel display content in virtual meetings. The CAM130 Content Camera together with the optional wall stand deliver flexible installation options for different sizes of conference room and whiteboard and AVer camera technology ensures a crystal-clear image of the entire whiteboard and IFP content for remote-side participants. The CAM130 Content Camera takes virtual meetings to the next level with reliable high-quality content sharing. With all-new ideas comes all-new functionality, and the CAM130 Content Camera is no exception: Keystone Correction: A game-changing innovation, Keystone Correction is the AI process the CAM130 uses together with Microsoft Teams to flatten the view of a whiteboard, no matter the angle. The only requirement is to have all four corners in-frame. AI Content Enhancement: In addition to the CAM130’s high quality sensors, AI content enhancement provided when using Microsoft Teams means that content in meetings has never been clearer. Share content such as graphs, charts, or writing in real time during virtual meetings like never before. Wide Compatibility: Thanks to Microsoft Teams compatibility, AI functions like Keystone Correction and AI Content Enhancement can be easily applied whether using the desktop version of Teams or the app version. Adjustable Whiteboard Mount: The purposefully designed CAM130 Content Camera AVer Whiteboard Mount delivers broad compatibility with all sizes of whiteboards and offers easy use and adjustability to fit into any situation. The CAM130 Content Camera finally delivers meeting rooms with a quality and purpose-made content sharing device, offering businesses the meetings they need - full of bright faces with AVer USB Conferencing Cameras and clear content with the AVer CAM130 Content Camera. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$42.10, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 205% over the past three years. Buying Opportunity • Jun 20
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be NT$62.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 71%. Upcoming Dividend • Jun 16
Upcoming dividend of NT$3.80 per share Eligible shareholders must have bought the stock before 23 June 2022. Payment date: 20 July 2022. Payout ratio is a comfortable 67% but the company is paying out more than the cash it is generating. Trailing yield: 7.5%. Within top quartile of Taiwanese dividend payers (6.0%). Higher than average of industry peers (4.3%). Tillkännagivande • Jun 09
AVer Information Inc. Declares Cash Dividend to Common Share Holders for the Year 2021, Payable on July 20, 2022 AVer Information Inc. announced the resolution by the board of directors or shareholders meeting or decision by the Company held on June 8, 2022, approved Cash dividends to common share holders TWD 353,095,810 or TWD 3.80 per common share. Ex-rights (ex-dividend) trading date is June 23, 2022. Ex-rights (ex-dividend) record date is June 29, 2022. Last date before book closure is June 24, 2022. Cash dividend will be paid on July 20, 2022. Buying Opportunity • May 12
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be NT$62.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 71%. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improved over the past week After last week's 18% share price gain to NT$59.20, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 293% over the past three years. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$1.90 (vs NT$5.04 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$922.9m (down 45% from 3Q 2020). Net income: NT$176.6m (down 62% from 3Q 2020). Profit margin: 19% (down from 28% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$2.11 (vs NT$0.75 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.02b (up 61% from 2Q 2020). Net income: NT$195.7m (up 182% from 2Q 2020). Profit margin: 19% (up from 11% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has only increased by 50% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 13
Upcoming dividend of NT$5.00 per share Eligible shareholders must have bought the stock before 20 July 2021. Payment date: 12 August 2021. Trailing yield: 6.0%. Within top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (2.9%). Executive Departure • Jul 13
Director Yi Min Du has left the company On the 1st of July, Yi Min Du's tenure as Director ended after 2.1 years in the role. We don't have any record of a personal shareholding under Yi Min's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 8.08 years. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improved over the past week After last week's 17% share price gain to NT$90.10, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 414% over the past three years. Reported Earnings • May 03
First quarter 2021 earnings released: EPS NT$2.19 (vs NT$0.087 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.00b (up 111% from 1Q 2020). Net income: NT$203.5m (up NT$195.4m from 1Q 2020). Profit margin: 20% (up from 1.7% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 123% per year but the company’s share price has only increased by 70% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 06
Full year 2020 earnings released: EPS NT$8.48 (vs NT$0.79 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$4.07b (up 90% from FY 2019). Net income: NT$788.2m (up NT$714.9m from FY 2019). Profit margin: 19% (up from 3.4% 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 120% per year but the company’s share price has only increased by 53% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Mar 06
AVer Information Inc., Annual General Meeting, Jun 10, 2021 AVer Information Inc., Annual General Meeting, Jun 10, 2021. Location: No.157, Da-An Rd., Tucheng Dist., New Taipei City Taiwan Agenda: To consider report 2020 operation results; to consider and to report Audit Committee's review of the 2020 business report and financial statements; to consider and to report 2020 employees' profit sharing bonus and directors' compensation; and to consider and To report revision of Rules of Procedure for the Board of Directors' Meetings; and to consider any other matter. Tillkännagivande • Mar 03
Aver Announces the CAM130: 4K Camera with Intelligent Built-In Fill Lighting AVer Information Inc. USA, announced the launch of the CAM130, a USB conference camera solution with a built-in microphone for today’s virtual communicators, perfect for huddle rooms, phonebooth rooms, and those who work from home. The CAM130 is the first of AVer’s new series of solutions which include built-in fill lighting. Brighten life and virtual workspace with revolutionary intelligent fill-in lighting. Declutter desk and eliminate additional bulky light rings or light cubes with the perfect amount of professional lighting to illuminate workspace. The CAM130 automatically adjusts brightness and memorizes preferences to present in best light. Users can manually adjust the color temperature and light level with simple buttons on the back of the camera, AVer remote control (separately purchased), or through AVer free PTZApp 2. The CAM130 packs a full suite of professional features into a simple, portable device. High-quality sensors and multi-lens glass produce super-sharp 4K video with brilliant color. Built-in unidirectional microphone, USB plug-and-play, and 4X Digital Zoom allow for easy meeting set up and use. Keep meetings safe and efficient with AVer's improved SmartFrame. Next-generation facial and body detection ensures everyone is visible on the screen, even with masks on. Compact and versatile, the CAM130 is perfect for traveling and remote team members. The CAM130 easily mounts on top of a 13-inch monitor, tripod, desk stand, or even upside down to fit a variety of meeting spaces. Dual FOV allows to pick from 90° or 120° FOV for full room coverage of any workspace, while the privacy shutter allows for peace of mind while the camera is not in use. Tillkännagivande • Feb 18
Aver Information Inc. USA Launches CAM520 Pro2 & VC520 Pro2 AVer Information Inc. USA announced the launch of two new products: the CAM520 Pro2 & VC520 Pro2. Enterprise-grade video conference camera and speakerphone are now available to transform any space into an effective collaboration haven. Keep meetings efficient and safe with company's improved SmartFrame on the AVer CAM520 Pro2. Next-generation facial and body detection ensures that everyone is visible on the screen up to 32 feet away, even with masks on. Designed for medium to large conference rooms, the CAM520 Pro2 has agile features like 18X total zoom (12X optical + 6X digital), Sony True WDR, and an 84-degree FOV. AVer's video conferencing solutions continue to revolutionize and innovate in the video conferencing industry with enhanced camera management. Manage AVer devices with PoE+ connectivity for power, USB virtualization, and web-based management. With enhanced management features, you'll never have to walk to the other side of campus to operate the camera. The CAM520 Pro2 offers built-in advanced integration capabilities, perfect for a controlled environment to allow users to connect the CAM520 Pro2 via RS232 or Visca over IP to joystick controllers and control systems. The VC520 Pro2, an enterprise-grade camera and speakerphone, brings a fluid audio communication experience to any meeting space. Participants can effectively capture audio throughout the entire room with the full-duplex microphone array and echo cancellation on the VC520 Pro2. No more crowding around one speakerphone; now can daisy-chain additional units to pick up voices and deliver crystal-clear sound within a 30ft diameter. The speakerphone offers touch controls that allow for easy muting and volume control for a next-generation audio experience. Executive Departure • Feb 03
Interim Financial Officer & Accounting Officer has left the company On the 1st of February, Ming Yi Chang's tenure as Interim Financial Officer & Accounting Officer ended after less than a year in the role. We don't have any record of a personal shareholding under Ming Yi's name. Ming Yi is the only executive to leave the company over the last 12 months. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improved over the past week After last week's 15% share price gain to NT$79.70, the stock is trading at a trailing P/E ratio of 12.4x, up from the previous P/E ratio of 10.8x. This compares to an average P/E of 18x in the Electronic industry in Taiwan. Total returns to shareholders over the past three years are 316%.