Reported Earnings • May 17
First quarter 2026 earnings released: NT$0.16 loss per share (vs NT$0.31 loss in 1Q 2025) First quarter 2026 results: NT$0.16 loss per share (improved from NT$0.31 loss in 1Q 2025). Revenue: NT$4.39b (down 9.0% from 1Q 2025). Net loss: NT$176.5m (loss narrowed 49% from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Duyuru • May 15
Chung Hwa Pulp Corporation to Report Q1, 2026 Results on May 15, 2026 Chung Hwa Pulp Corporation announced that they will report Q1, 2026 results on May 15, 2026 New Risk • Apr 02
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 8.6% 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 (currently running at an operating cash loss). Earnings have declined by 56% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (8.6% average weekly change). Reported Earnings • Mar 17
Full year 2025 earnings released: NT$0.56 loss per share (vs NT$0.23 loss in FY 2024) Full year 2025 results: NT$0.56 loss per share (further deteriorated from NT$0.23 loss in FY 2024). Revenue: NT$18.8b (down 9.6% from FY 2024). Net loss: NT$612.6m (loss widened 143% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. Duyuru • Mar 16
Chung Hwa Pulp Corporation, Annual General Meeting, Jun 16, 2026 Chung Hwa Pulp Corporation, Annual General Meeting, Jun 16, 2026. Location: 3 floor no,24, sec.1 hang chou s. rd., taipei city Taiwan Reported Earnings • Nov 15
Third quarter 2025 earnings released: NT$0.28 loss per share (vs NT$0.067 profit in 3Q 2024) Third quarter 2025 results: NT$0.28 loss per share (down from NT$0.067 profit in 3Q 2024). Revenue: NT$4.53b (down 9.8% from 3Q 2024). Net loss: NT$310.9m (down NT$383.2m from profit in 3Q 2024). Revenue is forecast to grow 5.7% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 17
Second quarter 2025 earnings released: NT$0.26 loss per share (vs NT$0.17 loss in 2Q 2024) Second quarter 2025 results: NT$0.26 loss per share (further deteriorated from NT$0.17 loss in 2Q 2024). Revenue: NT$4.74b (down 12% from 2Q 2024). Net loss: NT$279.5m (loss widened 52% from 2Q 2024). Revenue is forecast to grow 3.6% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Forestry industry in Asia. 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. Reported Earnings • May 16
First quarter 2025 earnings released: NT$0.31 loss per share (vs NT$0.043 profit in 1Q 2024) First quarter 2025 results: NT$0.31 loss per share (down from NT$0.043 profit in 1Q 2024). Revenue: NT$4.83b (down 8.6% from 1Q 2024). Net loss: NT$342.9m (down NT$389.6m from profit in 1Q 2024). Revenue is forecast to grow 1.3% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Duyuru • May 07
Chung Hwa Pulp Corporation to Report Q1, 2025 Results on May 14, 2025 Chung Hwa Pulp Corporation announced that they will report Q1, 2025 results on May 14, 2025 Reported Earnings • Mar 22
Full year 2024 earnings released: NT$0.23 loss per share (vs NT$0.53 loss in FY 2023) Full year 2024 results: NT$0.23 loss per share (improved from NT$0.53 loss in FY 2023). Revenue: NT$20.8b (flat on FY 2023). Net loss: NT$252.1m (loss narrowed 56% from FY 2023). Revenue is forecast to stay flat during the next 2 years compared to a 9.5% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Duyuru • Mar 17
Chung Hwa Pulp Corporation, Annual General Meeting, Jun 17, 2025 Chung Hwa Pulp Corporation, Annual General Meeting, Jun 17, 2025. Location: 3 floor no,24, sec.1 hang chou s. rd., taipei city Taiwan Duyuru • Mar 07
Chung Hwa Pulp Corporation to Report Fiscal Year 2024 Results on Mar 14, 2025 Chung Hwa Pulp Corporation announced that they will report fiscal year 2024 results on Mar 14, 2025 Reported Earnings • Nov 19
Third quarter 2024 earnings released: EPS: NT$0.07 (vs NT$0.17 loss in 3Q 2023) Third quarter 2024 results: EPS: NT$0.07 (up from NT$0.17 loss in 3Q 2023). Revenue: NT$5.02b (flat on 3Q 2023). Net income: NT$72.3m (up NT$254.6m from 3Q 2023). Profit margin: 1.4% (up from net loss in 3Q 2023). Revenue is forecast to grow 3.2% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Duyuru • Nov 06
Chung Hwa Pulp Corporation to Report Q3, 2024 Results on Nov 13, 2024 Chung Hwa Pulp Corporation announced that they will report Q3, 2024 results on Nov 13, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: NT$0.17 loss per share (vs NT$0.35 loss in 2Q 2023) Second quarter 2024 results: NT$0.17 loss per share (improved from NT$0.35 loss in 2Q 2023). Revenue: NT$5.41b (up 7.0% from 2Q 2023). Net loss: NT$184.2m (loss narrowed 51% from 2Q 2023). Revenue is forecast to grow 2.7% p.a. on average during the next 2 years, compared to a 9.9% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Duyuru • Aug 06
Chung Hwa Pulp Corporation to Report Q2, 2024 Results on Aug 13, 2024 Chung Hwa Pulp Corporation announced that they will report Q2, 2024 results on Aug 13, 2024 Reported Earnings • May 16
First quarter 2024 earnings released: EPS: NT$0.04 (vs NT$0.16 loss in 1Q 2023) First quarter 2024 results: EPS: NT$0.04 (up from NT$0.16 loss in 1Q 2023). Revenue: NT$5.28b (down 3.3% from 1Q 2023). Net income: NT$46.7m (up NT$216.8m from 1Q 2023). Profit margin: 0.9% (up from net loss in 1Q 2023). The move to profitability was driven by lower expenses. Revenue is forecast to grow 3.1% p.a. on average during the next 2 years, compared to a 9.8% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 19
Full year 2023 earnings released: NT$0.53 loss per share (vs NT$0.41 profit in FY 2022) Full year 2023 results: NT$0.53 loss per share (down from NT$0.41 profit in FY 2022). Revenue: NT$21.0b (down 11% from FY 2022). Net loss: NT$573.4m (down 229% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Duyuru • Mar 12
Chung Hwa Pulp Corporation, Annual General Meeting, Jun 26, 2024 Chung Hwa Pulp Corporation, Annual General Meeting, Jun 26, 2024. Location: 3F No.24, Sec. 1, Hangzhou S. Rd., Zhongzheng Dist Taipei City Taiwan Agenda: To consider Report of 2023 business & financial statements; to consider audit Committee report of 2023 audited financial report; to consider report of the employees and directors' remuneration for year 2023; to consider report the amendment of Rules of Board Meetings; and to transact such other business matters. Reported Earnings • Nov 20
Third quarter 2023 earnings released: NT$0.17 loss per share (vs NT$0.26 profit in 3Q 2022) Third quarter 2023 results: NT$0.17 loss per share (down from NT$0.26 profit in 3Q 2022). Revenue: NT$4.98b (down 19% from 3Q 2022). Net loss: NT$182.3m (down 164% from profit in 3Q 2022). Revenue is forecast to stay flat during the next 2 years compared to a 10% growth forecast for the Forestry industry in Asia. 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 30% per year, which means it is well ahead of earnings. Duyuru • Nov 15
Chung Hwa Pulp Corporation Announces Executive Changes Chung Hwa Pulp Corporation announced position adjustment of the President. Date of the board of directors resolution or date of occurrence of the change: November 13, 2023. Name of the previous position holder: Ray Chen, Yoshihiro Akiyama. Name of the new position holder: Ray Chen. Effective date of the new appointment: November 11, 2023. Reported Earnings • Aug 19
Second quarter 2023 earnings released: NT$0.35 loss per share (vs NT$0.15 profit in 2Q 2022) Second quarter 2023 results: NT$0.35 loss per share (down from NT$0.15 profit in 2Q 2022). Revenue: NT$5.05b (down 19% from 2Q 2022). Net loss: NT$375.7m (down 333% from profit in 2Q 2022). Revenue is expected to decline by 3.3% p.a. on average during the next 2 years, while revenues in the Forestry industry in Asia are expected to grow by 7.7%. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 13
Upcoming dividend of NT$0.30 per share at 1.1% yield Eligible shareholders must have bought the stock before 20 July 2023. Payment date: 25 August 2023. Payout ratio is on the higher end at 98% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (2.0%). Duyuru • Jul 01
Chung Hwa Pulp Corporation Announces Cash Dividend, Payable on August 25, 2023 Chung Hwa Pulp Corporation announced cash dividend of TWD 326,067,395 (TWD 0.30 per share). Ex-rights (ex-dividend) trading date: July 20, 2023. Ex-rights (ex-dividend) record date: July 28, 2023. Payment date of cash dividend distribution: August 25, 2023. Date of the resolution by the board of directors or shareholders meeting or decision by the Company: June 30, 2023. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$28.15, the stock trades at a trailing P/E ratio of 68.6x. Average trailing P/E is 25x in the Forestry industry in Taiwan. Total returns to shareholders of 245% over the past three years. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$19.10, the stock trades at a trailing P/E ratio of 46.6x. Average trailing P/E is 23x in the Forestry industry in Taiwan. Total returns to shareholders of 176% over the past three years. Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: NT$0.41 (vs NT$0.45 in FY 2021) Full year 2022 results: EPS: NT$0.41 (down from NT$0.45 in FY 2021). Revenue: NT$23.7b (up 7.3% from FY 2021). Net income: NT$445.9m (down 8.7% from FY 2021). Profit margin: 1.9% (down from 2.2% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Duyuru • Dec 02
Chung Hwa Pulp Corporation Announces Change of Chief Information Security Officer Chung Hwa Pulp Corporation appointed Yun Chen Wu/Manager /Chung Hwa Pulp Corporation in the place of York Kuo/General manager /Fidelis IT Solutions Co. Ltd. as Chief Information Security Officer, effective from November 30, 2022. Reported Earnings • Nov 19
Third quarter 2022 earnings released: EPS: NT$0.26 (vs NT$0.14 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.26 (up from NT$0.14 in 3Q 2021). Revenue: NT$6.16b (up 19% from 3Q 2021). Net income: NT$287.3m (up 88% from 3Q 2021). Profit margin: 4.7% (up from 3.0% 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 80% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. 1 independent director (3 non-independent directors). Independent Director Donald Chang was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Duyuru • Nov 12
Chung Hwa Pulp Corporation Announces the New Appointment of York Kuo as Chief Information Security Officer Chung Hwa Pulp Corporation announced the new appointment of York Kuo as Chief Information Security Officer. Name, title, and resume of the new position holder: York Kuo/General manager /Fidelis IT Solutions Co. Ltd. Reason for the change is new appointment. Effective date is November 11, 2022. Reported Earnings • Aug 18
Second quarter 2022 earnings released: EPS: NT$0.15 (vs NT$0.38 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.15 (down from NT$0.38 in 2Q 2021). Revenue: NT$6.22b (up 8.4% from 2Q 2021). Net income: NT$161.3m (down 61% from 2Q 2021). Profit margin: 2.6% (down from 7.1% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 07
Upcoming dividend of NT$0.41 per share Eligible shareholders must have bought the stock before 14 July 2022. Payment date: 18 August 2022. Trailing yield: 2.4%. Lower than top quartile of Taiwanese dividend payers (6.8%). Lower than average of industry peers (5.8%). Duyuru • Jun 19
Chung Hwa Pulp Corporation Announces Cash Dividend Chung Hwa Pulp Corporation announced Cash dividends of TWD 441,134,126 (TWD 0.40/per share). Ex-rights (ex-dividend) record date is July 21, 2022. Reported Earnings • May 17
First quarter 2022 earnings released: NT$0.05 loss per share (vs NT$0.087 profit in 1Q 2021) First quarter 2022 results: NT$0.05 loss per share (down from NT$0.087 profit in 1Q 2021). Revenue: NT$5.53b (flat on 1Q 2021). Net loss: NT$58.1m (down 161% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. 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 Yi Lee was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 18
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$0.45 (up from NT$0.18 loss in FY 2020). Revenue: NT$22.0b (up 18% from FY 2020). Net income: NT$488.2m (up NT$690.0m from FY 2020). Profit margin: 2.2% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jan 30
Chung Hwa Pulp Corporation Announces Change of the Representative of the Company's Institutional Director Chung Hwa Pulp Corporation appointed Cheng-Hsien, Chu as Representative Director in place of C. C. Huang, effective February 7, 2022. Cheng-Hsien, Chu is COO, YFY Inc. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.14 (vs NT$0.12 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$5.18b (up 15% from 3Q 2020). Net income: NT$153.1m (up NT$286.8m from 3Q 2020). Profit margin: 3.0% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improved over the past week After last week's 20% share price gain to NT$26.75, the stock trades at a trailing P/E ratio of 76x. Average forward P/E is 9x in the Forestry industry in Taiwan. Total returns to shareholders of 174% over the past three years. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$0.38 (vs NT$0.033 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$5.74b (up 28% from 2Q 2020). Net income: NT$408.1m (up NT$371.8m from 2Q 2020). Profit margin: 7.1% (up from 0.8% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.09 (vs NT$0.11 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$5.48b (up 20% from 1Q 2020). Net income: NT$94.8m (up NT$212.4m from 1Q 2020). Profit margin: 1.7% (up from net loss in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 117 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 01
Full year 2020 earnings released: NT$0.18 loss per share (vs NT$0.22 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: NT$18.6b (down 10.0% from FY 2019). Net loss: NT$201.8m (loss narrowed 18% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 105 percentage points per year, which is a significant difference in performance. Price Target Changed • Mar 19
Price target increased to NT$13.70 Up from NT$11.48, the current price target is an average from 2 analysts. New target price is 15% above last closing price of NT$11.95. Stock is up 82% over the past year. Duyuru • Mar 10
Chung Hwa Pulp Corporation, Annual General Meeting, May 25, 2021 Chung Hwa Pulp Corporation, Annual General Meeting, May 25, 2021. Price Target Changed • Dec 31
Price target raised to NT$11.48 Up from NT$9.40, the current price target is an average from 3 analysts. The new target price is 5.9% below the current share price of NT$12.20. As of last close, the stock is up 35% over the past year. Is New 90 Day High Low • Dec 21
New 90-day high: NT$11.60 The company is up 26% from its price of NT$9.18 on 22 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Forestry industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$2.94 per share. Is New 90 Day High Low • Nov 30
New 90-day high: NT$10.35 The company is up 5.0% from its price of NT$9.88 on 01 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Forestry industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$2.47 per share. Analyst Estimate Surprise Post Earnings • Nov 15
Revenue misses expectations Revenue missed analyst estimates by 3.2%. Over the next year, revenue is forecast to grow 4.1%, compared to a 12% growth forecast for the Forestry industry in Taiwan. Reported Earnings • Nov 15
Third quarter 2020 earnings released: NT$0.12 loss per share The company reported a poor third quarter result with increased losses and weaker revenues and control over expenses. Third quarter 2020 results: Revenue: NT$4.49b (down 8.7% from 3Q 2019). Net loss: NT$133.7m (loss widened 20% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 94% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Duyuru • Nov 13
Chung Hwa Pulp Corporation Announces Resignation of Kirk Hwang, CEO Chung Hwa Pulp Corporation announced resignation of Kirk Hwang, CEO. Effective from November 12, 2020.