Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$28.10, the stock trades at a trailing P/E ratio of 15.4x. Average trailing P/E is 28x in the Machinery industry in Taiwan. Total returns to shareholders of 51% over the past three years. Reported Earnings • May 11
First quarter 2026 earnings released: EPS: NT$0.48 (vs NT$0.72 in 1Q 2025) First quarter 2026 results: EPS: NT$0.48 (down from NT$0.72 in 1Q 2025). Revenue: NT$6.03b (down 8.9% from 1Q 2025). Net income: NT$231.5m (down 36% from 1Q 2025). Profit margin: 3.8% (down from 5.4% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 03
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 10 April 2026. Payment date: 08 May 2026. Payout ratio is a comfortable 73% but the company is not cash flow positive. Trailing yield: 5.8%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.4%). New Risk • Mar 18
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 23% 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 (23% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Mar 18
Full year 2025 earnings released: EPS: NT$2.05 (vs NT$2.02 in FY 2024) Full year 2025 results: EPS: NT$2.05 (up from NT$2.02 in FY 2024). Revenue: NT$20.3b (down 5.8% from FY 2024). Net income: NT$1.02b (flat on FY 2024). Profit margin: 5.0% (up from 4.7% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 15% per year. Declared Dividend • Mar 11
Dividend of NT$1.50 announced Shareholders will receive a dividend of NT$1.50. Ex-date: 10th April 2026 Payment date: 8th May 2026 Dividend yield will be 5.8%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by earnings (73% earnings payout ratio) but not adequately covered by cash flows (93% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 10% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 17
Third quarter 2025 earnings released: EPS: NT$0.31 (vs NT$0.30 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.31 (up from NT$0.30 in 3Q 2024). Revenue: NT$3.84b (down 23% from 3Q 2024). Net income: NT$155.8m (up 5.1% from 3Q 2024). Profit margin: 4.1% (up from 3.0% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 17
Second quarter 2025 earnings released: EPS: NT$0.46 (vs NT$0.65 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.46 (down from NT$0.65 in 2Q 2024). Revenue: NT$5.46b (down 11% from 2Q 2024). Net income: NT$226.7m (down 30% from 2Q 2024). Profit margin: 4.1% (down from 5.3% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: NT$0.73 (vs NT$0.50 in 1Q 2024) First quarter 2025 results: EPS: NT$0.73 (up from NT$0.50 in 1Q 2024). Revenue: NT$6.62b (up 34% from 1Q 2024). Net income: NT$360.3m (up 44% from 1Q 2024). Profit margin: 5.4% (up from 5.1% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 22% per year. Duyuru • May 01
Rechi Precision Co., Ltd. to Report Q1, 2025 Results on May 08, 2025 Rechi Precision Co., Ltd. announced that they will report Q1, 2025 results on May 08, 2025 Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$25.15, the stock trades at a trailing P/E ratio of 12.5x. Average forward P/E is 19x in the Machinery industry in Taiwan. Total returns to shareholders of 62% over the past three years. Upcoming Dividend • Apr 03
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 10 April 2025. Payment date: 08 May 2025. Payout ratio is a comfortable 74% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (2.7%). Reported Earnings • Mar 21
Full year 2024 earnings released: EPS: NT$2.02 (vs NT$1.50 in FY 2023) Full year 2024 results: EPS: NT$2.02 (up from NT$1.50 in FY 2023). Revenue: NT$21.5b (up 28% from FY 2023). Net income: NT$1.01b (up 34% from FY 2023). Profit margin: 4.7% (up from 4.5% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 18% per year. Declared Dividend • Mar 13
Dividend of NT$1.50 announced Shareholders will receive a dividend of NT$1.50. Ex-date: 10th April 2025 Payment date: 8th May 2025 Dividend yield will be 5.1%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (31% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 2.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Duyuru • Mar 04
Rechi Precision Co., Ltd. to Report Fiscal Year 2024 Results on Mar 11, 2025 Rechi Precision Co., Ltd. announced that they will report fiscal year 2024 results on Mar 11, 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. Reported Earnings • Nov 09
Third quarter 2024 earnings released: EPS: NT$0.30 (vs NT$0.43 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.30 (down from NT$0.43 in 3Q 2023). Revenue: NT$4.98b (up 23% from 3Q 2023). Net income: NT$148.3m (down 31% from 3Q 2023). Profit margin: 3.0% (down from 5.3% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Machinery industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Duyuru • Oct 22
Rechi Precision Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Rechi Precision Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Buy Or Sell Opportunity • Sep 13
Now 22% overvalued Over the last 90 days, the stock has fallen 16% to NT$25.10. The fair value is estimated to be NT$20.55, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has grown by 13%. Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: NT$0.65 (vs NT$0.53 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.65 (up from NT$0.53 in 2Q 2023). Revenue: NT$6.16b (up 37% from 2Q 2023). Net income: NT$325.7m (up 24% from 2Q 2023). Profit margin: 5.3% (down from 5.8% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 10% per year. Duyuru • Aug 09
Rechi Precision Co., Ltd. announced that it expects to receive $10 million in funding Rechi Precision Co., Ltd. announced a private placement to issue 10,000,000 common shares at an issue price of $1 per share for the gross proceeds of $10,000,000 on August 7, 2024. The transaction has been approved by shareholders of company. Duyuru • Jul 31
Rechi Precision Co., Ltd. to Report Q2, 2024 Results on Aug 07, 2024 Rechi Precision Co., Ltd. announced that they will report Q2, 2024 results on Aug 07, 2024 Reported Earnings • May 10
First quarter 2024 earnings released: EPS: NT$0.50 (vs NT$0.22 in 1Q 2023) First quarter 2024 results: EPS: NT$0.50 (up from NT$0.22 in 1Q 2023). Revenue: NT$4.93b (up 27% from 1Q 2023). Net income: NT$249.7m (up 132% from 1Q 2023). Profit margin: 5.1% (up from 2.8% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 12% per year. Upcoming Dividend • Apr 04
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 11 April 2024. Payment date: 03 May 2024. Payout ratio is a comfortable 67% but the company is paying out more than the cash it is generating. Trailing yield: 4.0%. Lower than top quartile of Taiwanese dividend payers (4.6%). Higher than average of industry peers (2.5%). Duyuru • Mar 23
Rechi Precision Co., Ltd., Annual General Meeting, Jun 13, 2024 Rechi Precision Co., Ltd., Annual General Meeting, Jun 13, 2024. Reported Earnings • Mar 17
Full year 2023 earnings released: EPS: NT$1.50 (vs NT$1.38 in FY 2022) Full year 2023 results: EPS: NT$1.50 (up from NT$1.38 in FY 2022). Revenue: NT$16.9b (down 8.2% from FY 2022). Net income: NT$751.0m (up 9.1% from FY 2022). Profit margin: 4.5% (up from 3.7% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 1% per year and the company’s share price has also increased by 1% per year. Duyuru • Mar 14
Rechi Precision Co., Ltd. (TWSE:4532) acquired minority unknown stake in Dyna Rechi Co., Ltd. from Taiwan Sanyo Electric Co.,Ltd. (TWSE:1614), Richtek Technology Corporation, Ablek Technology Ltd. and Hsu,Yung-fu for approximately TWD 310 billion. Rechi Precision Co., Ltd. (TWSE:4532) acquired unknown minority stake in Dyna Rechi Co., Ltd. from Taiwan Sanyo Electric Co.,Ltd. (TWSE:1614), Richtek Technology Corporation, Ablek Technology Ltd. and Hsu,Yung-fu for approximately TWD 310 billion on March 12, 2024. Rechi Precision Co., Ltd. (TWSE:4532) hold 94.42% stake in Dyna Rechi Co., Ltd. after this acquisition.
Rechi Precision Co., Ltd. (TWSE:4532) completed the acquisition of unknown minority stake in Dyna Rechi Co., Ltd. from Taiwan Sanyo Electric Co.,Ltd. (TWSE:1614), Richtek Technology Corporation, Ablek Technology Ltd. and Hsu,Yung-fu for approximately TWD 310 billion on March 12, 2024. Duyuru • Jan 31
Rechi Precision Co., Ltd. Announces Chief Marketing Officer Changes, Effective February 1, 2024 Rechi Precision Co., Ltd. announced Chief Marketing Officer Personnel Changes. Name, title, and resume of the previous position holder: NIU, YONG GUANG/Vice President/President of Qingdao Rechi Electric Machinery Sales Company. Type of the change: position adjustment. Reason for the change: In alignment with organizational operational requirements, the position of Chief Marketing Officer is being eliminated. Effective date: February 1, 2024. Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: NT$0.43 (vs NT$0.32 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.43 (up from NT$0.32 in 3Q 2022). Revenue: NT$4.07b (up 6.8% from 3Q 2022). Net income: NT$214.0m (up 34% from 3Q 2022). Profit margin: 5.3% (up from 4.2% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Machinery industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 2% per year. Reported Earnings • Aug 14
Second quarter 2023 earnings released: EPS: NT$0.53 (vs NT$0.54 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.53 (down from NT$0.54 in 2Q 2022). Revenue: NT$4.51b (down 18% from 2Q 2022). Net income: NT$262.6m (down 3.1% from 2Q 2022). Profit margin: 5.8% (up from 4.9% 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 1% per year whereas the company’s share price has increased by 3% per year. New Risk • Jul 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 14% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (351% cash payout ratio). Share price has been volatile over the past 3 months (6.1% average weekly change). Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$21.85, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 17x in the Machinery industry in Taiwan. Total returns to shareholders of 47% over the past three years. Duyuru • Jun 16
Rechi Precision Co., Ltd. Announces Change of Remuneration Committee Rechi Precision Co., Ltd. announced change of remuneration committee. Name of the previous position holder: SU, CHING YANG, CHEN, SHENG WANG and Guan, Chang Ching. Resume of the previous position holder: SU, CHING YANG/Independent Director/Audit Committee/Remuneration Committee of Aerowin Technology Corporation, Independent Director/Audit Committee/Remuneration Committee of KENDA RUBBER INDUSTRIAL CO., LTD. Director of NATUREWISE BIOTECH & MEDICALS CORPORATION, CHEN, SHENG WANG/None, and Guan, Chang Ching/CECI Nova Technology Co., Ltd.-Chairperson. Name of the new position holder: SU, CHING YANG, CHEN, SHENG WANG, and HUANG, PAO HUI. Resume of the new position holder: SU, CHING YANG/Independent Director/Audit Committee/Remuneration Committee of Aerowin Technology Corporation Independent Director/Audit Committee/Remuneration Committee of KENDA RUBBER INDUSTRIAL CO., LTD., Director of NATUREWISE BIOTECH & MEDICALS CORPORATION, CHEN, SHENG WANG/None, and HUANG, PAO HUI/Chairman of President Link Limited. Effective date of the new member: June 15, 2023. Upcoming Dividend • Apr 06
Upcoming dividend of NT$0.90 per share at 4.8% yield Eligible shareholders must have bought the stock before 13 April 2023. Payment date: 05 May 2023. Payout ratio is a comfortable 65% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Taiwanese dividend payers (5.9%). Higher than average of industry peers (3.1%). Reported Earnings • Mar 12
Full year 2022 earnings released: EPS: NT$1.38 (vs NT$1.08 in FY 2021) Full year 2022 results: EPS: NT$1.38 (up from NT$1.08 in FY 2021). Revenue: NT$18.4b (down 19% from FY 2021). Net income: NT$688.3m (up 27% from FY 2021). Profit margin: 3.7% (up from 2.4% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 1% per year. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.32 (vs NT$0.37 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.32 (down from NT$0.37 in 3Q 2021). Revenue: NT$3.81b (down 26% from 3Q 2021). Net income: NT$159.4m (down 14% from 3Q 2021). Profit margin: 4.2% (up from 3.6% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is expected to decline by 3.8% p.a. on average during the next 2 years, while revenues in the Machinery industry in Taiwan are expected to grow by 9.0%. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 6 non-independent directors. Independent Director Sheng Wang Chen was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 12
Third quarter 2022 earnings released: EPS: NT$0.32 (vs NT$0.37 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.32 (down from NT$0.37 in 3Q 2021). Revenue: NT$3.81b (down 26% from 3Q 2021). Net income: NT$159.4m (down 14% from 3Q 2021). Profit margin: 4.2% (up from 3.6% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is expected to decline by 3.8% p.a. on average during the next 2 years, while revenues in the Machinery industry in Taiwan are expected to grow by 8.8%. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings. Duyuru • Aug 18
Rechi Precision Co., Ltd. Announces Death of Lee,Jen-Fang, Independent Director, Member of the Audit Committee and Remuneration Committee Rechi Precision Co., Ltd. announced death of LEE,JEN-FANG, Independent Director, Member of the company's audit committee and remuneration Committee, the company received this news on August 17, 2022. Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: NT$0.54 (vs NT$0.41 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.54 (up from NT$0.41 in 2Q 2021). Revenue: NT$5.48b (down 13% from 2Q 2021). Net income: NT$271.1m (up 32% from 2Q 2021). Profit margin: 4.9% (up from 3.3% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 9% per year. Upcoming Dividend • Jun 27
Upcoming dividend of NT$0.70 per share Eligible shareholders must have bought the stock before 04 July 2022. Payment date: 21 July 2022. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of Taiwanese dividend payers (6.3%). Higher than average of industry peers (3.2%). Duyuru • May 24
Rechi Precision Co., Ltd. Announces Executive Changes Rechi Precision Co., Ltd. announced the change of the company's legal person director representative. Name of legal person: SHARP CORPORATION; Name of the previous position holder: Nakashima,Mitsuo; Resume of the previous position holder: PCI Department-Minister; Name of the new position holder: Mishiro,Kazuhisa; Resume of the new position holder: Air Conditioning Department-Minister; Reason for the change: Reassignment; Original term (from June 16, 2020 to June 15, 2023); Effective date of the new appointment: May 23, 2022. Reported Earnings • May 11
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: NT$0.29 (up from NT$0.27 in 1Q 2021). Revenue: NT$5.57b (down 4.4% from 1Q 2021). Net income: NT$142.7m (up 4.6% from 1Q 2021). Profit margin: 2.6% (up from 2.3% in 1Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 20%. Earnings per share (EPS) also missed analyst estimates by 26%. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 12% per year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Jen Fang Lee was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$0.37 (vs NT$0.43 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$5.16b (up 11% from 3Q 2020). Net income: NT$186.4m (down 14% from 3Q 2020). Profit margin: 3.6% (down from 4.7% in 3Q 2020). The decrease in margin was driven by higher expenses. 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 7% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 03
Upcoming dividend of NT$0.70 per share Eligible shareholders must have bought the stock before 10 September 2021. Payment date: 05 October 2021. Trailing yield: 3.5%. Lower than top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (2.7%). Reported Earnings • Aug 11
Second quarter 2021 earnings released: EPS NT$0.41 (vs NT$0.42 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$6.28b (up 20% from 2Q 2020). Net income: NT$206.2m (down 3.3% from 2Q 2020). Profit margin: 3.3% (down from 4.1% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 23% 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. Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$18.85, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 17x in the Machinery industry in Taiwan. Total loss to shareholders of 31% over the past three years. Reported Earnings • May 08
First quarter 2021 earnings released: EPS NT$0.27 (vs NT$0.27 in 1Q 2020) The company reported a mediocre first quarter result with weaker profit margins, although earnings were flat and revenues improved. First quarter 2021 results: Revenue: NT$5.83b (up 38% from 1Q 2020). Net income: NT$136.5m (flat on 1Q 2020). Profit margin: 2.3% (down from 3.2% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 23% 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. Reported Earnings • Mar 25
Full year 2020 earnings released: EPS NT$1.41 (vs NT$1.30 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: NT$19.3b (down 4.0% from FY 2019). Net income: NT$709.5m (up 8.2% from FY 2019). Profit margin: 3.7% (up from 3.3% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 23% 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. Is New 90 Day High Low • Mar 15
New 90-day high: NT$22.25 The company is up 9.0% from a price of NT$20.35 on 15 December 2020. Underperformed the Taiwanese market, which is up 14% over the last 90 days. Lagged the Machinery industry, which is up 13% over the same period. Is New 90 Day High Low • Jan 11
New 90-day high: NT$22.20 The company is up 14% from its price of NT$19.55 on 13 October 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 24% over the same period. Is New 90 Day High Low • Dec 01
New 90-day high: NT$21.80 The company is up 9.0% from its price of NT$20.00 on 02 September 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 5.0% over the same period. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS NT$0.43 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$4.66b (up 18% from 3Q 2019). Net income: NT$217.2m (up 74% from 3Q 2019). Profit margin: 4.7% (up from 3.2% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.