Reported Earnings • May 16
First quarter 2026 earnings released: EPS: NT$0.24 (vs NT$0.049 in 1Q 2025) First quarter 2026 results: EPS: NT$0.24 (up from NT$0.049 in 1Q 2025). Revenue: NT$65.6m (down 3.0% from 1Q 2025). Net income: NT$19.9m (up 396% from 1Q 2025). Profit margin: 30% (up from 5.9% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 05
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$27.50, the stock trades at a trailing P/E ratio of 37.6x. Average trailing P/E is 24x in the Software industry in Taiwan. Total returns to shareholders of 67% over the past three years. Reported Earnings • Mar 17
Full year 2025 earnings released: EPS: NT$0.73 (vs NT$0.83 loss in FY 2024) Full year 2025 results: EPS: NT$0.73 (up from NT$0.83 loss in FY 2024). Revenue: NT$278.0m (up 9.9% from FY 2024). Net income: NT$60.1m (up NT$115.9m from FY 2024). Profit margin: 22% (up from net loss in FY 2024). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Duyuru • Mar 13
Apex International Financial Engineering Res. & Tech. Co., Ltd, Annual General Meeting, Jun 02, 2026 Apex International Financial Engineering Res. & Tech. Co., Ltd, Annual General Meeting, Jun 02, 2026. Location: b1 floor no,329, hsin hu 2nd rd., neihu district, taipei city Taiwan Reported Earnings • Nov 15
Third quarter 2025 earnings released: EPS: NT$0.05 (vs NT$0.29 loss in 3Q 2024) Third quarter 2025 results: EPS: NT$0.05 (up from NT$0.29 loss in 3Q 2024). Revenue: NT$65.3m (up 34% from 3Q 2024). Net income: NT$4.51m (up NT$22.6m from 3Q 2024). Profit margin: 6.9% (up from net loss in 3Q 2024). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 13% per year. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: NT$0.09 (vs NT$0.72 loss in 2Q 2024) Second quarter 2025 results: EPS: NT$0.09 (up from NT$0.72 loss in 2Q 2024). Revenue: NT$59.7m (up 18% from 2Q 2024). Net income: NT$7.33m (up NT$52.1m from 2Q 2024). Profit margin: 12% (up from net loss in 2Q 2024). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. New Risk • Jun 09
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 8.8% 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 Earnings have declined by 12% per year over the past 5 years. Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Market cap is less than US$100m (NT$2.44b market cap, or US$81.5m). Reported Earnings • May 16
First quarter 2025 earnings released: EPS: NT$0.05 (vs NT$0.47 loss in 1Q 2024) First quarter 2025 results: EPS: NT$0.05 (up from NT$0.47 loss in 1Q 2024). Revenue: NT$67.6m (down 9.4% from 1Q 2024). Net income: NT$4.02m (up NT$33.4m from 1Q 2024). Profit margin: 5.9% (up from net loss in 1Q 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Duyuru • May 06
Apex International Financial Engineering Res. & Tech. Co., Ltd to Report Q1, 2025 Results on May 13, 2025 Apex International Financial Engineering Res. & Tech. Co., Ltd announced that they will report Q1, 2025 results on May 13, 2025 Duyuru • Mar 14
Apex International Financial Engineering Res. & Tech. Co., Ltd, Annual General Meeting, Jun 04, 2025 Apex International Financial Engineering Res. & Tech. Co., Ltd, Annual General Meeting, Jun 04, 2025. Location: b1 floor no,329, hsin hu 2nd rd., neihu district, taipei city Taiwan Duyuru • Mar 06
Apex International Financial Engineering Res. & Tech. Co., Ltd to Report Fiscal Year 2024 Results on Mar 13, 2025 Apex International Financial Engineering Res. & Tech. Co., Ltd announced that they will report fiscal year 2024 results on Mar 13, 2025 New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 32% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 23% per year over the past 5 years. Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Minor Risk Market cap is less than US$100m (NT$2.12b market cap, or US$64.4m). New Risk • Dec 09
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 32% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.2% average weekly change). Earnings have declined by 23% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (32% increase in shares outstanding). Market cap is less than US$100m (NT$2.52b market cap, or US$77.8m). Reported Earnings • Nov 19
Third quarter 2024 earnings released: NT$0.29 loss per share (vs NT$0.42 loss in 3Q 2023) Third quarter 2024 results: NT$0.29 loss per share (improved from NT$0.42 loss in 3Q 2023). Revenue: NT$48.7m (down 31% from 3Q 2023). Net loss: NT$18.1m (loss narrowed 32% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Duyuru • Nov 05
Apex International Financial Engineering Res. & Tech. Co., Ltd to Report Q3, 2024 Results on Nov 12, 2024 Apex International Financial Engineering Res. & Tech. Co., Ltd announced that they will report Q3, 2024 results on Nov 12, 2024 New Risk • Sep 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 9.4% 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 Share price has been highly volatile over the past 3 months (9.4% average weekly change). Earnings have declined by 23% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$1.90b market cap, or US$59.4m). Reported Earnings • Aug 14
Second quarter 2024 earnings released: NT$0.72 loss per share (vs NT$0.37 loss in 2Q 2023) Second quarter 2024 results: NT$0.72 loss per share (further deteriorated from NT$0.37 loss in 2Q 2023). Revenue: NT$50.8m (down 8.0% from 2Q 2023). Net loss: NT$44.8m (loss widened 94% from 2Q 2023). 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 14% per year, which means it is well ahead of earnings. Duyuru • Jul 27
Apex International Financial Engineering Res. & Tech. Co., Ltd to Report Q2, 2024 Results on Aug 05, 2024 Apex International Financial Engineering Res. & Tech. Co., Ltd announced that they will report Q2, 2024 results on Aug 05, 2024 Reported Earnings • May 20
First quarter 2024 earnings released: NT$0.47 loss per share (vs NT$0.31 loss in 1Q 2023) First quarter 2024 results: NT$0.47 loss per share (further deteriorated from NT$0.31 loss in 1Q 2023). Revenue: NT$74.6m (up 30% from 1Q 2023). Net loss: NT$29.4m (loss widened 53% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 49% per year, which means it is well ahead of earnings. Duyuru • Apr 26
Apex International Financial Engineering Res. & Tech. Co., Ltd announced a financing transaction Apex International Financial Engineering Res. & Tech. Co., Ltd announced a private placement of 20,000,000 common shares at a price of no less than 80% of the higher of simple arithmetic average of the closing prices of the common shares on one of the 1st, 3rd, and 5th business days before the pricing date, adjusted for any stock dividends or rights issuances, and adding back the share price after any reverse stock splits or simple arithmetic average of the closing prices of the common shares on one of the 1st, 3rd, and 5th business days before the pricing date, adjusted for any stock dividends or rights issuances, and adding back the share price after any reverse stock splits or the simple arithmetic average of the closing prices of the common shares over the 30 business days before the pricing date, adjusted for any stock dividends or rights issuances, and adding back the share price after any reverse stock splits on April 25, 2024. The transaction will include participation from returning investors Hsu, Rong-Tang, Hsu, Chia-Chun, Fuding Shun Inv. Co. and Chishi Inv. Co. The transaction has been approved by the shareholders of the company. Reported Earnings • Mar 26
Full year 2023 earnings released: NT$1.56 loss per share (vs NT$0.20 loss in FY 2022) Full year 2023 results: NT$1.56 loss per share (further deteriorated from NT$0.20 loss in FY 2022). Revenue: NT$262.0m (down 15% from FY 2022). Net loss: NT$97.3m (loss widened NT$85.0m from FY 2022). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 72% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Feb 19
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 60% to NT$51.30. The fair value is estimated to be NT$41.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.6% over the last 3 years. Meanwhile, the company became loss making. Duyuru • Feb 02
Apex International Financial Engineering Res. & Tech. Co., Ltd Announces Change of Institutional Representative Director Apex International Financial Engineering Res. & Tech. Co. Ltd. announced changes in the company's Institutional Representative Director. Name of legal person: Dongjian Investment Co. Ltd. Name of the previous position holder: Chen, Chien-Hao. Resume of the previous position holder: Chairman, Dongjian Investment Co. Ltd. Name of the new position holder: Hsieh, Yu-hao. Resume of the new position holder: Practice Lawyer at Yousheng Law Firm. Reason for the change: Reassignment of Institutional Representative Director. Original term: February 1, 2024 to January 31, 2027. Effective date of the new appointment: February 1, 2024. New Risk • Nov 18
New major risk - Revenue and earnings growth Earnings have declined by 3.8% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.4% average weekly change). Earnings have declined by 3.8% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$1.77b market cap, or US$55.6m). New Risk • Oct 18
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 Risk Share price has been highly volatile over the past 3 months (8.0% average weekly change). Minor Risk Market cap is less than US$100m (NT$1.80b market cap, or US$55.5m). Reported Earnings • Aug 13
Second quarter 2023 earnings released: NT$0.37 loss per share (vs NT$0.039 profit in 2Q 2022) Second quarter 2023 results: NT$0.37 loss per share (down from NT$0.039 profit in 2Q 2022). Revenue: NT$63.4m (down 15% from 2Q 2022). Net loss: NT$23.0m (down NT$25.4m from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$16.40, the stock trades at a trailing P/E ratio of 38.5x. Average trailing P/E is 18x in the Software industry in Taiwan. Total returns to shareholders of 229% over the past three years. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$18.15, the stock trades at a trailing P/E ratio of 42.6x. Average trailing P/E is 15x in the Software industry in Taiwan. Total returns to shareholders of 159% over the past three years. Reported Earnings • Nov 20
Third quarter 2022 earnings released: EPS: NT$0.11 (vs NT$0.038 loss in 3Q 2021) Third quarter 2022 results: EPS: NT$0.11 (up from NT$0.038 loss in 3Q 2021). Revenue: NT$88.8m (up 21% from 3Q 2021). Net income: NT$6.90m (up NT$9.24m from 3Q 2021). Profit margin: 7.8% (up from net loss in 3Q 2021). The move to profitability 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 29% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improved over the past week After last week's 16% share price gain to NT$17.80, the stock trades at a trailing P/E ratio of 64.1x. Average trailing P/E is 14x in the Software industry in Taiwan. Total returns to shareholders of 134% over the past three years. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.04 (vs NT$0.24 loss in 2Q 2021) Second quarter 2022 results: EPS: NT$0.04 (up from NT$0.24 loss in 2Q 2021). Revenue: NT$74.2m (up 50% from 2Q 2021). Net income: NT$2.40m (up NT$17.2m from 2Q 2021). Profit margin: 3.2% (up from net loss in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 16
First quarter 2022 earnings released: NT$0.01 loss per share (vs NT$0.37 loss in 1Q 2021) First quarter 2022 results: NT$0.01 loss per share (up from NT$0.37 loss in 1Q 2021). Revenue: NT$74.7m (up 62% from 1Q 2021). Net loss: NT$379.0k (loss narrowed 98% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 37% per year, which means it is well ahead of earnings. Duyuru • Apr 07
Apex International Financial Engineering Res. & Tech. Co., Ltd, Annual General Meeting, Jun 23, 2022 Apex International Financial Engineering Res. & Tech. Co., Ltd, Annual General Meeting, Jun 23, 2022. Reported Earnings • Apr 03
Full year 2021 earnings released: NT$0.37 loss per share (vs NT$1.26 loss in FY 2020) Full year 2021 results: NT$0.37 loss per share (up from NT$1.26 loss in FY 2020). Revenue: NT$257.2m (up 14% from FY 2020). Net loss: NT$22.8m (loss narrowed 71% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings. Reported Earnings • Nov 17
Third quarter 2021 earnings released: EPS NT$0.16 (vs NT$0.39 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$264.0m (up 306% from 3Q 2020). Net income: NT$9.86m (up NT$34.1m from 3Q 2020). Profit margin: 3.7% (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 44% per year but the company’s share price has increased by 49% per year, which means it is well ahead of earnings. Reported Earnings • Aug 18
Second quarter 2021 earnings released: NT$0.24 loss per share (vs NT$0.17 loss in 2Q 2020) The company reported a soft second quarter result with increased losses and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: NT$49.6m (up 3.3% from 2Q 2020). Net loss: NT$14.9m (loss widened 35% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Reported Earnings • May 16
First quarter 2021 earnings released: NT$0.37 loss per share (vs NT$0.55 loss in 1Q 2020) The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were weaker. First quarter 2021 results: Revenue: NT$46.1m (down 12% from 1Q 2020). Net loss: NT$23.2m (loss narrowed 33% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Reported Earnings • Apr 02
Full year 2020 earnings released: NT$1.26 loss per share (vs NT$0.36 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: NT$225.2m (down 18% from FY 2019). Net loss: NT$79.3m (loss widened 244% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Duyuru • Mar 11
Apex International Financial Engineering Res. & Tech. Co., Ltd, Annual General Meeting, May 28, 2021 Apex International Financial Engineering Res. & Tech. Co., Ltd, Annual General Meeting, May 28, 2021. Is New 90 Day High Low • Feb 24
New 90-day low: NT$6.70 The company is down 34% from its price of NT$10.20 on 26 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 4.0% over the same period. Is New 90 Day High Low • Jan 15
New 90-day low: NT$7.60 The company is down 2.0% from its price of NT$7.75 on 16 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 1.0% over the same period. Is New 90 Day High Low • Dec 04
New 90-day high: NT$11.00 The company is up 21% from its price of NT$9.09 on 04 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 3.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: NT$0.39 loss per share The company reported a soft third quarter result with increased losses and weaker control over expenses, although revenues were improved. Third quarter 2020 results: Revenue: NT$65.0m (up 2.0% from 3Q 2019). Net loss: NT$24.3m (loss widened 189% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Nov 13
New 90-day high: NT$10.15 The company is up 13% from its price of NT$8.98 on 14 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 6.0% over the same period. Is New 90 Day High Low • Sep 21
New 90-day high: NT$10.10 The company is up 51% from its price of NT$6.71 on 23 June 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 2.0% over the same period.