Duyuru • Feb 26
Trade-Van Information Services Co., Annual General Meeting, Jun 26, 2026 Trade-Van Information Services Co., Annual General Meeting, Jun 26, 2026. Location: 2 floor building. a no,19-10, san ch`ung rd., nangang district, taipei city Taiwan Reported Earnings • Feb 26
Full year 2025 earnings released: EPS: NT$3.90 (vs NT$3.40 in FY 2024) Full year 2025 results: EPS: NT$3.90 (up from NT$3.40 in FY 2024). Revenue: NT$2.75b (up 7.8% from FY 2024). Net income: NT$585.6m (up 15% from FY 2024). Profit margin: 21% (up from 20% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 15% per year. New Risk • Feb 26
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 110% Dividend yield: 3.3% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Jan 13
Now 22% overvalued The stock has been flat over the last 90 days, currently trading at NT$98.30. The fair value is estimated to be NT$80.71, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.9% over the last 3 years. Earnings per share has grown by 7.4%. Reported Earnings • Nov 07
Third quarter 2025 earnings released: EPS: NT$1.21 (vs NT$1.00 in 3Q 2024) Third quarter 2025 results: EPS: NT$1.21 (up from NT$1.00 in 3Q 2024). Revenue: NT$709.9m (up 11% from 3Q 2024). Net income: NT$181.1m (up 20% from 3Q 2024). Profit margin: 26% (up from 24% in 3Q 2024). 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 19% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Aug 09
Dividend of NT$3.20 announced Shareholders will receive a dividend of NT$3.20. Ex-date: 26th August 2025 Payment date: 19th September 2025 Dividend yield will be 3.3%, which is lower than the industry average of 3.6%. Sustainability & Growth Dividend is covered by earnings (88% earnings payout ratio) but not covered by cash flows (100% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 04
First quarter 2025 earnings released: EPS: NT$0.92 (vs NT$0.73 in 1Q 2024) First quarter 2025 results: EPS: NT$0.92 (up from NT$0.73 in 1Q 2024). Revenue: NT$624.0m (up 8.7% from 1Q 2024). Net income: NT$138.1m (up 27% from 1Q 2024). Profit margin: 22% (up from 19% 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 3% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Apr 25
Trade-Van Information Services Co. to Report Q1, 2025 Results on May 02, 2025 Trade-Van Information Services Co. announced that they will report Q1, 2025 results on May 02, 2025 Buy Or Sell Opportunity • Apr 07
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.9% to NT$82.30. The fair value is estimated to be NT$106, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years, while earnings per share has been flat. Reported Earnings • Mar 01
Full year 2024 earnings released: EPS: NT$3.40 (vs NT$3.20 in FY 2023) Full year 2024 results: EPS: NT$3.40 (up from NT$3.20 in FY 2023). Revenue: NT$2.55b (up 11% from FY 2023). Net income: NT$624.2m (up 30% from FY 2023). Profit margin: 24% (up from 21% 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 2% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Feb 19
Trade-Van Information Services Co. to Report Fiscal Year 2024 Results on Feb 26, 2025 Trade-Van Information Services Co. announced that they will report fiscal year 2024 results on Feb 26, 2025 Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$111, the stock trades at a trailing P/E ratio of 33.9x. Average trailing P/E is 23x in the IT industry in Taiwan. Total returns to shareholders of 137% over the past three years. 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. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 08
Third quarter 2024 earnings released: EPS: NT$1.00 (vs NT$0.86 in 3Q 2023) Third quarter 2024 results: EPS: NT$1.00 (up from NT$0.86 in 3Q 2023). Revenue: NT$641.0m (up 18% from 3Q 2023). Net income: NT$150.5m (up 16% from 3Q 2023). Profit margin: 24% (in line with 3Q 2023). 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 18% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: NT$0.86 (vs NT$0.94 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.86 (down from NT$0.94 in 2Q 2023). Revenue: NT$568.9m (up 9.9% from 2Q 2023). Net income: NT$129.3m (down 8.7% from 2Q 2023). Profit margin: 23% (down from 27% 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 3% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Aug 10
Dividend increased to NT$2.75 Dividend of NT$2.75 is 10% higher than last year. Ex-date: 27th August 2024 Payment date: 20th September 2024 Dividend yield will be 3.8%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (88% earnings payout ratio) and cash flows (80% cash payout ratio). The dividend has increased by an average of 9.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Duyuru • Aug 10
Trade-Van Information Services Co. Announces Cash Dividend, Payable on September 20, 2024 Trade-Van Information Services Co. announced cash dividend of TWD 2.75 per share. Ex-rights (ex-dividend) trading date: August 27, 2024. Ex-rights (ex-dividend) record date: September 2, 2024. Payment date of common stock cash dividend distribution is September 20, 2024. Duyuru • Aug 01
Trade-Van Information Services Co. to Report Q2, 2024 Results on Aug 08, 2024 Trade-Van Information Services Co. announced that they will report Q2, 2024 results on Aug 08, 2024 Duyuru • May 10
Trade-Van Information Services Co. Announces the Resignation of Huang, Yen-Nun as Representative of Juristic-Person Director, Effective May 19, 2024 Trade-Van Information Services Co. announced the resignation of Huang, Yen-Nun as representative of juristic-person directors. Resume of the previous position holder: Distinguished Research Fellow, Academia Sinica and Executive Officer of Taiwan Information Security Thematic Center. Effective date: May 19, 2024. Date of occurrence of the change: May 9, 2024. Reported Earnings • May 04
First quarter 2024 earnings released: EPS: NT$0.73 (vs NT$0.73 in 1Q 2023) First quarter 2024 results: EPS: NT$0.73. Revenue: NT$574.3m (up 7.7% from 1Q 2023). Net income: NT$109.0m (flat on 1Q 2023). Profit margin: 19% (down from 21% in 1Q 2023). The decrease in margin was driven by higher expenses. Duyuru • Apr 27
Trade-Van Information Services Co. to Report Q1, 2024 Results on May 02, 2024 Trade-Van Information Services Co. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 02, 2024 Reported Earnings • Feb 25
Full year 2023 earnings released: EPS: NT$3.20 (vs NT$3.09 in FY 2022) Full year 2023 results: EPS: NT$3.20 (up from NT$3.09 in FY 2022). Revenue: NT$2.30b (up 1.3% from FY 2022). Net income: NT$480.7m (up 3.6% from FY 2022). Profit margin: 21% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 6% 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 • Nov 04
Third quarter 2023 earnings released: EPS: NT$0.86 (vs NT$0.75 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.86 (up from NT$0.75 in 3Q 2022). Revenue: NT$545.0m (up 5.4% from 3Q 2022). Net income: NT$129.3m (up 16% from 3Q 2022). Profit margin: 24% (up from 22% in 3Q 2022). The increase in margin was 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. Upcoming Dividend • Aug 15
Upcoming dividend of NT$2.50 per share at 3.7% yield Eligible shareholders must have bought the stock before 22 August 2023. Payment date: 15 September 2023. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (5.7%). In line with average of industry peers (3.9%). Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: NT$0.94 (vs NT$0.76 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.94 (up from NT$0.76 in 2Q 2022). Revenue: NT$517.5m (down 2.1% from 2Q 2022). Net income: NT$141.6m (up 24% from 2Q 2022). Profit margin: 27% (up from 22% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 11% per year. Duyuru • Aug 09
Trade-Van Information Services Co. Announces Cash Dividend, Payable on September 15, 2023 Trade-Van Information Services Co. announced cash dividend of TWD 375,000,000 (TWD 2.50 per share), payable on September 15, 2023. Ex-rights (ex-dividend) trading date: August 22, 2023. Ex-rights (ex-dividend) record date: August 28, 2023. Payment date of cash dividend distribution: September 15, 2023. Duyuru • Aug 03
Trade-Van Information Services Co. Announces Board Changes Trade-Van Information Services Co. announced appointment of Wu, Lien-Ying as the juristic-person Director. Name of legal person: Ministry of Finance. Name of the previous position holder: Sung, Hsiu-Ling, Director-General of Taxation. Name of the new position holder: Wu, Lien-Ying, Director-general of National Taxation Bureau of Taipei Ministry of Finance. The effective date of the new appointment: August 2, 2023. Reported Earnings • May 07
First quarter 2023 earnings released: EPS: NT$0.73 (vs NT$1.15 in 1Q 2022) First quarter 2023 results: EPS: NT$0.73 (down from NT$1.15 in 1Q 2022). Revenue: NT$533.3m (down 14% from 1Q 2022). Net income: NT$109.3m (down 37% from 1Q 2022). Profit margin: 21% (down from 28% in 1Q 2022). The decrease in margin was driven by lower 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 14% per year. Reported Earnings • Feb 25
Full year 2022 earnings released: EPS: NT$3.09 (vs NT$2.84 in FY 2021) Full year 2022 results: EPS: NT$3.09 (up from NT$2.84 in FY 2021). Revenue: NT$2.27b (up 1.6% from FY 2021). Net income: NT$464.1m (up 9.0% from FY 2021). Profit margin: 21% (up from 19% in FY 2021). Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 18% per year. Reported Earnings • Nov 06
Third quarter 2022 earnings released: EPS: NT$0.75 (vs NT$0.62 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.75 (up from NT$0.62 in 3Q 2021). Revenue: NT$517.2m (up 2.2% from 3Q 2021). Net income: NT$111.9m (up 21% from 3Q 2021). Profit margin: 22% (up from 18% in 3Q 2021). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$54.40, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 13x in the IT industry in Taiwan. Total returns to shareholders of 67% over the past three years. Upcoming Dividend • Aug 15
Upcoming dividend of NT$2.05 per share Eligible shareholders must have bought the stock before 22 August 2022. Payment date: 15 September 2022. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Taiwanese dividend payers (6.5%). Lower than average of industry peers (5.1%). Reported Earnings • Aug 06
Second quarter 2022 earnings released: EPS: NT$0.76 (vs NT$0.64 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.76 (up from NT$0.64 in 2Q 2021). Revenue: NT$528.8m (up 9.0% from 2Q 2021). Net income: NT$114.6m (up 19% from 2Q 2021). Profit margin: 22% (up from 20% 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 22% per year whereas the company’s share price has increased by 20% per year. Duyuru • Aug 05
Trade-Van Information Services Co. Announces Cash Dividend, Payable on September 15, 2022 Trade-Van Information Services Co. announced cash dividend of TWD 307,500,000(TWD 2.05 per share. Ex-rights (ex-dividend) trading date is August 22, 2022. Ex-rights (ex-dividend) record date is August 28, 2022. Cash dividend distribution date is September 15, 2022. Reported Earnings • May 07
First quarter 2022 earnings released: EPS: NT$1.15 (vs NT$0.82 in 1Q 2021) First quarter 2022 results: EPS: NT$1.15 (up from NT$0.82 in 1Q 2021). Revenue: NT$619.6m (up 15% from 1Q 2021). Net income: NT$172.4m (up 39% from 1Q 2021). Profit margin: 28% (up from 23% 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 21% per year whereas the company’s share price has increased by 16% per year. Reported Earnings • Mar 01
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$2.84 (up from NT$2.25 in FY 2020). Revenue: NT$2.23b (up 18% from FY 2020). Net income: NT$425.7m (up 26% from FY 2020). Profit margin: 19% (up from 18% in FY 2020). The increase in margin 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 18% per year whereas the company’s share price has increased by 13% per year. Duyuru • Feb 26
Trade-Van Information Services Co. Announces Change of Chief Internal Auditor Trade-Van Information Services Co. announced change of chief internal auditor. Name, title, and resume of the previous position holder: Ju, Homg-Ling/chief internal auditor (Chief Auditor) of TRADE-VAN Information Services Co. Name, title, and resume of the new position holder: Yen, Hui-Ping/chief internal auditor (Deputy manager) of TRADE-VAN Information Services Co. Effective date is February 24, 2022. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$0.62 (vs NT$0.89 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$506.1m (down 6.8% from 3Q 2020). Net income: NT$92.5m (down 31% from 3Q 2020). Profit margin: 18% (down from 25% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 15% per year. Upcoming Dividend • Aug 18
Upcoming dividend of NT$1.81 per share Eligible shareholders must have bought the stock before 25 August 2021. Payment date: 17 September 2021. Trailing yield: 3.6%. Lower than top quartile of Taiwanese dividend payers (5.3%). In line with average of industry peers (3.7%). Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$0.64 (vs NT$0.46 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$485.0m (up 11% from 2Q 2020). Net income: NT$96.3m (up 39% from 2Q 2020). Profit margin: 20% (up from 16% in 2Q 2020). 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 14% per year. Reported Earnings • May 09
First quarter 2021 earnings released: EPS NT$0.82 (vs NT$0.36 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$538.3m (up 35% from 1Q 2020). Net income: NT$123.6m (up 128% from 1Q 2020). Profit margin: 23% (up from 14% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 16% per year. Duyuru • Feb 26
Trade-Van Information Services Co., Annual General Meeting, Jun 22, 2021 Trade-Van Information Services Co., Annual General Meeting, Jun 22, 2021. Location: 2Fl., Building A, No.19-10, Sanchung Road, Nankang District Taipei City Taiwan Agenda: To consider 2020 Business Report; to consider audit Committee's Review Reports on the 2020 Financial Statements; to consider the report of distribution on 2020 Employees' compensation and Directors' and Supervisors' compensation; to consider amendment of the Codes of Ethical Conduct; to consider approval of the Amendment to Articles of Association; and to consider other matters. Reported Earnings • Feb 26
Full year 2020 earnings released: EPS NT$2.25 (vs NT$1.94 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$1.90b (up 10% from FY 2019). Net income: NT$337.2m (up 16% from FY 2019). Profit margin: 18% (in line with FY 2019). 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 14% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Dec 30
New 90-day high: NT$50.90 The company is up 9.0% from its price of NT$46.70 on 30 September 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the IT industry, which is up 6.0% over the same period. Reported Earnings • Nov 06
Third quarter 2020 earnings released: EPS NT$0.89 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$542.9m (up 33% from 3Q 2019). Net income: NT$133.0m (up 88% from 3Q 2019). Profit margin: 25% (up from 17% in 3Q 2019). The increase in margin was driven by higher revenue. 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 15% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Oct 28
New 90-day low: NT$46.20 The company is down 2.0% from its price of NT$47.00 on 30 July 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 5.0% over the same period.