Reported Earnings • May 09
First quarter 2026 earnings released: EPS: NT$0.67 (vs NT$0.80 in 1Q 2025) First quarter 2026 results: EPS: NT$0.67 (down from NT$0.80 in 1Q 2025). Revenue: NT$4.80b (down 2.1% from 1Q 2025). Net income: NT$283.2m (down 15% from 1Q 2025). Profit margin: 5.9% (down from 6.8% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Mar 18
Now 22% undervalued The stock has been flat over the last 90 days, currently trading at NT$44.30. The fair value is estimated to be NT$57.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.0% over the last 3 years. Earnings per share has declined by 12%. Duyuru • Mar 02
Sinon Corporation, Annual General Meeting, May 26, 2026 Sinon Corporation, Annual General Meeting, May 26, 2026, at 09:30 Taipei Standard Time. Location: no,666, t`ai wan ta tao, hsi tun district, taichung city Taiwan Declared Dividend • Mar 02
Dividend of NT$2.50 announced Dividend of NT$2.50 is the same as last year. Ex-date: 18th March 2026 Payment date: 16th April 2026 Dividend yield will be 5.5%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is not adequately covered by earnings (95% earnings payout ratio). However, it is covered by cash flows (64% cash payout ratio). The dividend has increased by an average of 11% 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 5.9% to bring the payout ratio under control, which is less than the 8.9% EPS growth achieved over the last 5 years. Reported Earnings • Feb 27
Full year 2025 earnings released: EPS: NT$2.60 (vs NT$2.50 in FY 2024) Full year 2025 results: EPS: NT$2.60 (up from NT$2.50 in FY 2024). Revenue: NT$18.6b (down 1.7% from FY 2024). Net income: NT$1.09b (up 4.2% from FY 2024). Profit margin: 5.9% (up from 5.5% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Duyuru • Feb 27
Sinon Corporation announces Annual dividend, payable on April 16, 2026 Sinon Corporation announced Annual dividend of TWD 2.5000 per share payable on April 16, 2026, ex-date on March 18, 2026 and record date on March 19, 2026. Buy Or Sell Opportunity • Jan 26
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 8.1% to NT$46.85. The fair value is estimated to be NT$39.03, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.9% over the last 3 years. Earnings per share has declined by 16%. Reported Earnings • Nov 08
Third quarter 2025 earnings released: EPS: NT$0.56 (vs NT$0.58 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.56 (down from NT$0.58 in 3Q 2024). Revenue: NT$4.37b (down 6.2% from 3Q 2024). Net income: NT$235.2m (down 4.3% from 3Q 2024). Profit margin: 5.4% (up from 5.3% 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 16% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Aug 10
Second quarter 2025 earnings released: EPS: NT$0.71 (vs NT$0.55 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.71 (up from NT$0.55 in 2Q 2024). Revenue: NT$4.96b (up 1.4% from 2Q 2024). Net income: NT$299.6m (up 30% from 2Q 2024). Profit margin: 6.0% (up from 4.7% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • May 10
First quarter 2025 earnings released: EPS: NT$0.80 (vs NT$0.81 in 1Q 2024) First quarter 2025 results: EPS: NT$0.80 (down from NT$0.81 in 1Q 2024). Revenue: NT$4.90b (down 2.2% from 1Q 2024). Net income: NT$334.8m (down 1.2% from 1Q 2024). Profit margin: 6.8% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Duyuru • May 01
Sinon Corporation to Report Q1, 2025 Results on May 09, 2025 Sinon Corporation announced that they will report Q1, 2025 results on May 09, 2025 Declared Dividend • Feb 24
Dividend reduced to NT$2.50 Dividend of NT$2.50 is 11% lower than last year. Ex-date: 13th March 2025 Payment date: 16th April 2025 Dividend yield will be 5.4%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is not covered by earnings (115% earnings payout ratio) nor is it covered by cash flows (117% cash payout ratio). The dividend has increased by an average of 13% 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 28% to bring the payout ratio under control, which is more than the 9.2% EPS growth achieved over the last 5 years. Duyuru • Feb 24
Sinon Corporation, Annual General Meeting, May 26, 2025 Sinon Corporation, Annual General Meeting, May 26, 2025. Location: no,666, t`ai wan ta tao, hsi tun district, taichung city Taiwan Reported Earnings • Feb 23
Full year 2024 earnings released: EPS: NT$2.50 (vs NT$2.50 in FY 2023) Full year 2024 results: EPS: NT$2.50 (down from NT$2.50 in FY 2023). Revenue: NT$18.9b (down 1.0% from FY 2023). Net income: NT$1.05b (flat on FY 2023). Profit margin: 5.5% (in line with FY 2023). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Duyuru • Feb 22
Sinon Corporation Announces Cash Dividend for the Year Ended December 31, 2024, Payable on April 16, 2025 Sinon Corporation announced cash dividend of TWD 2.5 per share for the year ended December 31, 2024. Total amount of cash distributed to shareholders TWD 1,051,231,463. Ex-rights (ex-dividend) trading date: March 13, 2025. Ex-rights (ex-dividend) record date: March 20, 2025. Payment date of common stock cash dividend distribution: April 16, 2025. Duyuru • Feb 14
Sinon Corporation to Report Fiscal Year 2024 Results on Feb 21, 2025 Sinon Corporation announced that they will report fiscal year 2024 results on Feb 21, 2025 Reported Earnings • Nov 10
Third quarter 2024 earnings released: EPS: NT$0.58 (vs NT$0.59 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.58 (down from NT$0.59 in 3Q 2023). Revenue: NT$4.66b (down 4.7% from 3Q 2023). Net income: NT$245.8m (flat on 3Q 2023). Profit margin: 5.3% (up from 5.1% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Reported Earnings • Aug 12
Second quarter 2024 earnings released: EPS: NT$0.55 (vs NT$0.67 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.55 (down from NT$0.67 in 2Q 2023). Revenue: NT$4.90b (up 7.0% from 2Q 2023). Net income: NT$230.9m (down 18% from 2Q 2023). Profit margin: 4.7% (down from 6.1% 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 5% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Aug 02
Sinon Corporation to Report Q2, 2024 Results on Aug 09, 2024 Sinon Corporation announced that they will report Q2, 2024 results on Aug 09, 2024 Reported Earnings • May 12
First quarter 2024 earnings released: EPS: NT$0.81 (vs NT$0.76 in 1Q 2023) First quarter 2024 results: EPS: NT$0.81 (up from NT$0.76 in 1Q 2023). Revenue: NT$5.01b (down 2.2% from 1Q 2023). Net income: NT$338.9m (up 5.8% from 1Q 2023). Profit margin: 6.8% (up from 6.3% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • May 03
Sinon Corporation to Report Q1, 2024 Results on May 10, 2024 Sinon Corporation announced that they will report Q1, 2024 results on May 10, 2024 Upcoming Dividend • Mar 07
Upcoming dividend of NT$2.80 per share Eligible shareholders must have bought the stock before 14 March 2024. Payment date: 16 April 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 6.7%. Within top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (4.0%). Reported Earnings • Feb 25
Full year 2023 earnings released: EPS: NT$2.50 (vs NT$3.93 in FY 2022) Full year 2023 results: EPS: NT$2.50 (down from NT$3.93 in FY 2022). Revenue: NT$19.1b (down 17% from FY 2022). Net income: NT$1.05b (down 36% from FY 2022). Profit margin: 5.5% (down from 7.2% 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 17% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 08
Third quarter 2023 earnings released: EPS: NT$0.59 (vs NT$1.26 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.59 (down from NT$1.26 in 3Q 2022). Revenue: NT$4.89b (down 16% from 3Q 2022). Net income: NT$247.5m (down 53% from 3Q 2022). Profit margin: 5.1% (down from 9.1% in 3Q 2022). The decrease in margin was driven by lower 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 21% per year. Buying Opportunity • Aug 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 1.7%. The fair value is estimated to be NT$44.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Earnings per share has grown by 30%. Reported Earnings • Aug 06
Second quarter 2023 earnings released: EPS: NT$0.67 (vs NT$0.98 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.67 (down from NT$0.98 in 2Q 2022). Revenue: NT$4.58b (down 25% from 2Q 2022). Net income: NT$279.7m (down 32% from 2Q 2022). Profit margin: 6.1% (down from 6.8% 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 30% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Duyuru • Jun 29
Sinon Corporation Announces Changes to the Remuneration Committee and Nominating Committee Sinon Corporation announced changes to the remuneration committee and nominating committee with effect from June 27, 2023. Name of the previous position holder: Remuneration Committee - Huang, Shen-Yi; Uang, Biing-Jiun; and Chen, Chiun Mang. Nominating Committee - Horng, Po-Yen; Liao Lien-Heng; Huang, Shen-Yi; Uang, Biing-Jiun; Chen, Chiun Mang. Name of the new position holder: Remuneration Committee - Chen, Chiun Mang; Huang, Shen-Yi; and Huang, Chin-Lin. Nominating Committee: Yen, Tsu-Fang; Liao, Lien-Heng; Chen, Chiun Mang; Huang, Shen-Yi; Huang, Chin-Lin. Resume of the new position holder: Yen, Tsu-Fang /Chairman, Sinon Corporation; Liao, Lien-Heng /Vice Chairman, Sinon Corporation; Chen, Chiun Mang /Independent Director, Sinon Corporation; Huang, Shen-Yi /Independent Director, Sinon Corporation; Huang, Chin-Lin /Independent Director, Sinon Corporation. Duyuru • Jun 28
Sinon Corporation Replaces Yen, Tsu-Fang with Li, Chien-Min as General Manager Sinon Corporation replaced Yen, Tsu-Fang with Li, Chien-Min, Vice General Manager, Sinon Corporation as General Manager with effect from July 1, 2023. Duyuru • Jun 01
Sinon Corporation Announces Board Changes Sinon Corporation approved the appointment of Huang, Chin-Lin as Independent Director. Duyuru • May 31
Sinon Corporation Announces Executive Changes Sinon Corporation announces election of Chairman and Vice chairman. Name of the previous position holder: (1)Chairman: Horng, Po-Yen (2)Vice chairman: Chiawen Investment Ltd. Representative: Liao, Lien-Heng 4.Resume of the previous position holder: (1)Horng, Po-Yen /Chairman, Sinon Corporation (2)Chiawen Investment Ltd. Representative: Liao, Lien-Heng /Vice Chairman, Sinon Corporation 5.Name of the new position holder: (1)Chairman: Yen, Tsu-Fang (2)Vice chairman: Chiawen Investment Ltd. Representative: Liao, Lien-Heng 6.Resume of the new position holder: (1)Yen, Tsu-Fang /General Manager, Sinon Corporation (2)Chiawen Investment Ltd. Representative: Liao, Lien-Heng. Date of change is May 30, 2023. Upcoming Dividend • Mar 09
Upcoming dividend of NT$2.80 per share at 6.7% yield Eligible shareholders must have bought the stock before 16 March 2023. Payment date: 19 April 2023. Payout ratio is a comfortable 71% and this is well supported by cash flows. Trailing yield: 6.7%. Within top quartile of Taiwanese dividend payers (6.0%). Lower than average of industry peers (7.5%). Reported Earnings • Feb 26
Full year 2022 earnings released: EPS: NT$3.92 (vs NT$2.19 in FY 2021) Full year 2022 results: EPS: NT$3.92 (up from NT$2.19 in FY 2021). Revenue: NT$23.0b (up 24% from FY 2021). Net income: NT$1.65b (up 79% from FY 2021). Profit margin: 7.2% (up from 4.9% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
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 Sheng-Yi Huang was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 06
Third quarter 2022 earnings released: EPS: NT$1.26 (vs NT$0.62 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.26 (up from NT$0.62 in 3Q 2021). Revenue: NT$5.85b (up 27% from 3Q 2021). Net income: NT$529.4m (up 104% from 3Q 2021). Profit margin: 9.1% (up from 5.6% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improved over the past week After last week's 18% share price gain to NT$43.80, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 16x in the Chemicals industry in Taiwan. Total returns to shareholders of 183% over the past three years. Reported Earnings • Aug 08
Second quarter 2022 earnings released: EPS: NT$0.98 (vs NT$0.51 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.98 (up from NT$0.51 in 2Q 2021). Revenue: NT$6.09b (up 29% from 2Q 2021). Net income: NT$411.9m (up 91% from 2Q 2021). Profit margin: 6.8% (up from 4.6% 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 24% per year and the company’s share price has also increased by 24% per year. Reported Earnings • May 11
First quarter 2022 earnings released: EPS: NT$1.13 (vs NT$0.60 in 1Q 2021) First quarter 2022 results: EPS: NT$1.13 (up from NT$0.60 in 1Q 2021). Revenue: NT$6.07b (up 26% from 1Q 2021). Net income: NT$475.9m (up 88% from 1Q 2021). Profit margin: 7.8% (up from 5.2% 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 16% per year whereas the company’s share price has increased by 19% 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 Sheng-Yi Huang was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 31
Upcoming dividend of NT$1.80 per share Eligible shareholders must have bought the stock before 07 April 2022. Payment date: 09 May 2022. Payout ratio is on the higher end at 82%, and the cash payout ratio is above 100%. Trailing yield: 5.3%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (6.4%). Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improved over the past week After last week's 16% share price gain to NT$33.65, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 19x in the Chemicals industry in Taiwan. Total returns to shareholders of 139% over the past three years. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$0.62 (vs NT$0.51 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$4.61b (up 5.1% from 3Q 2020). Net income: NT$260.1m (up 21% from 3Q 2020). Profit margin: 5.6% (up from 4.9% in 3Q 2020). 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 but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$0.51 (vs NT$0.85 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$4.73b (up 7.2% from 2Q 2020). Net income: NT$216.0m (down 40% from 2Q 2020). Profit margin: 4.6% (down from 8.1% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 08
First quarter 2021 earnings released: EPS NT$0.60 (vs NT$0.049 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$4.83b (up 3.0% from 1Q 2020). Net income: NT$252.6m (up NT$232.0m from 1Q 2020). Profit margin: 5.2% (up from 0.4% in 1Q 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 10% per year. Upcoming Dividend • Apr 01
Upcoming dividend of NT$1.30 per share Eligible shareholders must have bought the stock before 08 April 2021. Payment date: 10 May 2021. Trailing yield: 5.6%. Within top quartile of Taiwanese dividend payers (4.8%). Higher than average of industry peers (3.4%). Duyuru • Mar 21
Sinon Corporation Approves Dividend for the Period from Jan. 1, 2020 to Dec. 1, 2020 The Board of Directors of Sinon Corporation approved dividend distribution to shareholders of TWD 1.3 per share for the period from Jan. 1, 2020 to Dec. 1, 2020. Duyuru • Mar 20
Sinon Corporation, Annual General Meeting, Jun 22, 2021 Sinon Corporation, Annual General Meeting, Jun 22, 2021. Location: Evergreen Laurel Hotel(Taichung) (Located at No. 666, Sec. 2 Taiwan Boulevard Taichung City Taiwan Agenda: To report on the Company’s 2020 business operations; to consider the Audit committee's review report in 2020 of the Company; to report on allocation of remuneration to the employees and directors; to report on the 2020 appropriations of earnings in cash dividends; to report on the amendment to Ethical Corporate Management Best Practice Principles; to ratify the Company’s 2020 business report and financial statements; and to consider other discussion proposals and extempore motion. Reported Earnings • Mar 20
Full year 2020 earnings released: EPS NT$1.70 (vs NT$1.61 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$17.5b (up 2.4% from FY 2019). Net income: NT$715.6m (up 6.0% from FY 2019). Profit margin: 4.1% (up from 4.0% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat 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 09
New 90-day high: NT$21.75 The company is up 5.0% from its price of NT$20.75 on 09 December 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 up 10.0% over the same period. Is New 90 Day High Low • Dec 29
New 90-day high: NT$21.30 The company is up 8.0% from its price of NT$19.70 on 30 September 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 18% over the same period. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS NT$0.51 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$4.39b (up 2.4% from 3Q 2019). Net income: NT$214.6m (up 112% from 3Q 2019). Profit margin: 4.9% (up from 2.4% in 3Q 2019). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 3% per year.