Reported Earnings • Apr 22
Full year 2025 earnings released: NT$1.10 loss per share (vs NT$0.05 loss in FY 2024) Full year 2025 results: NT$1.10 loss per share (further deteriorated from NT$0.05 loss in FY 2024). Revenue: NT$253.4m (down 18% from FY 2024). Net loss: NT$35.4m (loss widened NT$33.8m from FY 2024). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Duyuru • Mar 25
Pancolour Ink Co., Ltd., Annual General Meeting, Jun 16, 2026 Pancolour Ink Co., Ltd., Annual General Meeting, Jun 16, 2026, at 09:00 Taipei Standard Time. Location: no,72-1, wen ming rd., yueh shan li, gueishan district, taoyuan city Taiwan New Risk • Mar 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (4.8% operating cash flow to total debt). Earnings have declined by 32% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (7.8% average weekly change). Market cap is less than US$100m (NT$392.0m market cap, or US$12.5m). Board Change • Feb 26
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. 1 highly experienced director. No independent directors (9 non-independent directors). Vice President and Director Youqin Bai was the last director to join the board, commencing their role in 2007. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. New Risk • Jul 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.2% operating cash flow to total debt). Earnings have declined by 56% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Market cap is less than US$100m (NT$617.0m market cap, or US$21.1m). Reported Earnings • Apr 24
Full year 2024 earnings released: NT$0.05 loss per share (vs NT$0.78 loss in FY 2023) Full year 2024 results: NT$0.05 loss per share (improved from NT$0.78 loss in FY 2023). Revenue: NT$307.2m (up 9.5% from FY 2023). Net loss: NT$1.62m (loss narrowed 94% from FY 2023). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. New Risk • Apr 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (2.0% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (8.0% average weekly change). Earnings have declined by 65% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (NT$620.2m market cap, or US$18.8m). Duyuru • Mar 27
Pancolour Ink Co., Ltd., Annual General Meeting, Jun 17, 2025 Pancolour Ink Co., Ltd., Annual General Meeting, Jun 17, 2025, at 09:00 Taipei Standard Time. Location: no,72-1, wen ming rd., yueh shan li, gueishan district, taoyuan city Taiwan New Risk • Feb 28
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (2.0% operating cash flow to total debt). Earnings have declined by 65% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (7.2% average weekly change). Market cap is less than US$100m (NT$705.3m market cap, or US$21.4m). New Risk • Nov 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 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (2.0% operating cash flow to total debt). Earnings have declined by 65% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (NT$991.3m market cap, or US$31.0m). Reported Earnings • Apr 27
Full year 2023 earnings released: NT$0.78 loss per share (vs NT$1.24 loss in FY 2022) Full year 2023 results: NT$0.78 loss per share (improved from NT$1.24 loss in FY 2022). Revenue: NT$280.7m (down 26% from FY 2022). Net loss: NT$24.9m (loss narrowed 37% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Apr 26
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 227% to NT$50.30. The fair value is estimated to be NT$40.67, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 23% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Apr 03
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 181% to NT$50.00. The fair value is estimated to be NT$40.39, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 23% over the last 3 years. Meanwhile, the company became loss making. Duyuru • Mar 29
Pancolour Ink Co., Ltd., Annual General Meeting, Jun 27, 2024 Pancolour Ink Co., Ltd., Annual General Meeting, Jun 27, 2024. New Risk • Feb 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 60% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (NT$992.9m market cap, or US$31.4m). New Risk • Feb 19
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 60% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$739.1m market cap, or US$23.5m). New Risk • Jan 16
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 5.5% 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 Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Earnings have declined by 60% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.5% average weekly change). Market cap is less than US$100m (NT$523.8m market cap, or US$16.6m). Reported Earnings • Apr 23
Full year 2022 earnings released: NT$1.24 loss per share (vs NT$0.65 loss in FY 2021) Full year 2022 results: NT$1.24 loss per share (further deteriorated from NT$0.65 loss in FY 2021). Revenue: NT$381.0m (down 2.3% from FY 2021). Net loss: NT$39.8m (loss widened 89% from FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Vice President and Director Youqin Bai was the last director to join the board, commencing their role in 2007. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Buying Opportunity • Sep 28
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 7.4%. The fair value is estimated to be NT$19.09, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 29% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Apr 27
Full year 2021 earnings released: NT$0.65 loss per share (vs NT$0.22 profit in FY 2020) Full year 2021 results: NT$0.65 loss per share (down from NT$0.22 profit in FY 2020). Revenue: NT$389.8m (down 25% from FY 2020). Net loss: NT$21.0m (down 400% from profit in FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Vice President and Director Youqin Bai was the last director to join the board, commencing their role in 2007. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Aug 18
First half 2021 earnings released: NT$0.18 loss per share (vs NT$0.92 profit in 1H 2020) The company reported a poor first half result with weaker earnings, revenues and control over costs. First half 2021 results: Revenue: NT$204.9m (down 31% from 1H 2020). Net loss: NT$5.79m (down 120% from profit in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 43% 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. Upcoming Dividend • Jul 02
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 08 July 2021. Payment date: 28 July 2021. Trailing yield: 3.4%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (2.8%). Reported Earnings • Apr 28
Full year 2020 earnings released: EPS NT$0.22 (vs NT$3.75 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$516.9m (down 33% from FY 2019). Net income: NT$6.99m (down 94% from FY 2019). Profit margin: 1.4% (down from 16% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment improved over the past week After last week's 16% share price gain to NT$31.05, the stock is trading at a trailing P/E ratio of 9.7x, up from the previous P/E ratio of 8.4x. This compares to an average P/E of 20x in the Chemicals industry in Taiwan. Total return to shareholders over the past three years is a loss of 45%. Is New 90 Day High Low • Jan 07
New 90-day high: NT$29.60 The company is up 9.0% from its price of NT$27.15 on 08 October 2020. The Taiwanese market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 15% over the same period. Is New 90 Day High Low • Dec 08
New 90-day low: NT$25.00 The company is down 12% from its price of NT$28.30 on 09 September 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 10.0% over the same period. Is New 90 Day High Low • Sep 22
New 90-day low: NT$27.10 The company is down 17% from its price of NT$32.50 on 24 June 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is flat over the same period.