Reported Earnings • May 06
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: EPS: NT$4.00. Revenue: NT$1.10b (up 19% from 1Q 2025). Net income: NT$308.5m (up 16% from 1Q 2025). Profit margin: 28% (in line with 1Q 2025). Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Electronic industry in Taiwan. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$328, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 206% over the past three years. Upcoming Dividend • Apr 09
Upcoming dividend of NT$16.84 per share Eligible shareholders must have bought the stock before 16 April 2026. Payment date: 15 May 2026. Payout ratio is on the higher end at 95%, and the cash payout ratio is above 100%. Trailing yield: 5.7%. Within top quartile of Taiwanese dividend payers (5.1%). Higher than average of industry peers (1.8%). Reported Earnings • Mar 31
Full year 2025 earnings: EPS in line with analyst expectations despite revenue beat Full year 2025 results: EPS: NT$16.97 (up from NT$16.80 in FY 2024). Revenue: NT$3.93b (up 22% from FY 2024). Net income: NT$1.11b (up 8.3% from FY 2024). Profit margin: 28% (down from 32% in FY 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 24% per year. Declared Dividend • Mar 08
Dividend increased to NT$16.90 Dividend of NT$16.90 is 2.7% higher than last year. Ex-date: 16th April 2026 Payment date: 15th May 2026 Dividend yield will be 6.0%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is not adequately covered by earnings (95% earnings payout ratio) nor is it covered by cash flows (127% cash payout ratio). The dividend has increased by an average of 26% 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 5.7% to bring the payout ratio under control. EPS is expected to grow by 44% over the next 2 years, which is sufficient to bring the dividend into a sustainable range. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$289, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 169% over the past three years. Reported Earnings • Nov 06
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: EPS: NT$4.10. Revenue: NT$968.9m (up 6.7% from 3Q 2024). Net income: NT$267.2m (flat on 3Q 2024). Profit margin: 28% (down from 29% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) missed analyst estimates by 18%. New Risk • Sep 11
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 94% Cash payout ratio: 139% High level of non-cash earnings (21% accrual ratio). Reported Earnings • Apr 26
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: NT$16.80 (up from NT$11.68 in FY 2023). Revenue: NT$3.21b (up 34% from FY 2023). Net income: NT$1.02b (up 48% from FY 2023). Profit margin: 32% (up from 29% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 2.2%. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 12% per year. Duyuru • Apr 25
Alltop Technology Co., Ltd. to Report Q1, 2025 Results on May 02, 2025 Alltop Technology Co., Ltd. announced that they will report Q1, 2025 results on May 02, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$225, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 51% over the past three years. Upcoming Dividend • Apr 05
Upcoming dividend of NT$16.46 per share Eligible shareholders must have bought the stock before 11 April 2025. Payment date: 08 May 2025. Payout ratio and cash payout ratio are on the higher end at 77% and 79% respectively. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (3.3%). 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. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (6.4% increase in shares outstanding). New Risk • Dec 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.4% 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: Minor Risks Dividend is not well covered by cash flows (96% cash payout ratio). Shareholders have been diluted in the past year (6.4% increase in shares outstanding). Reported Earnings • Nov 10
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: EPS: NT$4.36 (up from NT$3.55 in 3Q 2023). Revenue: NT$907.7m (up 33% from 3Q 2023). Net income: NT$264.9m (up 27% from 3Q 2023). Profit margin: 29% (down from 31% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) missed analyst estimates by 7.1%. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Nov 08
Price target increased by 18% to NT$350 Up from NT$297, the current price target is provided by 1 analyst. New target price is 26% above last closing price of NT$277. Stock is up 50% over the past year. The company is forecast to post earnings per share of NT$16.44 for next year compared to NT$11.68 last year. Duyuru • Nov 06
Alltop Technology Co., Ltd. Appoints Chang Yi Wei as Chief Sustainability Officer Alltop Technology Co., Ltd. announced the appointment of Chang Yi Wei/General Manager as chief sustainability officer of the company. Effective date: November 5, 2024. Duyuru • Oct 29
Alltop Technology Co., Ltd. to Report Q3, 2024 Results on Nov 05, 2024 Alltop Technology Co., Ltd. announced that they will report Q3, 2024 results on Nov 05, 2024 Board Change • Oct 23
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 8 experienced directors. No highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Chih Fung Chiang was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Sep 13
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% 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: Minor Risks Dividend is not well covered by cash flows (109% cash payout ratio). Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: NT$4.33 (vs NT$3.40 in 2Q 2023) Second quarter 2024 results: EPS: NT$4.33 (up from NT$3.40 in 2Q 2023). Revenue: NT$768.6m (up 29% from 2Q 2023). Net income: NT$257.8m (up 28% from 2Q 2023). Profit margin: 34% (in line with 2Q 2023). Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 11% per year. Duyuru • Jul 24
Alltop Technology Co., Ltd. to Report Q2, 2024 Results on Aug 02, 2024 Alltop Technology Co., Ltd. announced that they will report Q2, 2024 results at 9:00 AM, Taipei Standard Time on Aug 02, 2024 Upcoming Dividend • Jul 20
Upcoming dividend of NT$11.39 per share Eligible shareholders must have bought the stock before 25 July 2024. Payment date: 22 August 2024. Payout ratio and cash payout ratio are on the higher end at 87% and 91% respectively. Trailing yield: 5.0%. Within top quartile of Taiwanese dividend payers (4.3%). Higher than average of industry peers (2.6%). Declared Dividend • Jul 01
Dividend of NT$11.60 announced Shareholders will receive a dividend of NT$11.60. Ex-date: 25th July 2024 Payment date: 22nd August 2024 Dividend yield will be 4.7%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (87% earnings payout ratio) but not covered by cash flows (113% cash payout ratio). The dividend has increased by an average of 33% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 20% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$3.06 (vs NT$1.35 in 1Q 2023) First quarter 2024 results: EPS: NT$3.06 (up from NT$1.35 in 1Q 2023). Revenue: NT$588.2m (up 37% from 1Q 2023). Net income: NT$181.1m (up 127% from 1Q 2023). Profit margin: 31% (up from 19% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Electronic industry in Taiwan. 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 22% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Apr 28
Alltop Technology Co., Ltd. to Report Q1, 2024 Results on May 03, 2024 Alltop Technology Co., Ltd. announced that they will report Q1, 2024 results on May 03, 2024 Buy Or Sell Opportunity • Apr 22
Now 22% undervalued Over the last 90 days, the stock has risen 11% to NT$214. The fair value is estimated to be NT$273, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 36% in 2 years. Earnings are forecast to grow by 43% in the next 2 years. Reported Earnings • Mar 22
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: NT$11.68 (up from NT$9.42 in FY 2022). Revenue: NT$2.39b (up 3.7% from FY 2022). Net income: NT$689.7m (up 25% from FY 2022). Profit margin: 29% (up from 24% in FY 2022). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Price Target Changed • Mar 07
Price target increased by 21% to NT$260 Up from NT$215, the current price target is provided by 1 analyst. New target price is 20% above last closing price of NT$217. Stock is up 49% over the past year. The company is forecast to post earnings per share of NT$11.68 for next year compared to NT$9.41 last year. Duyuru • Mar 06
Alltop Technology Co., Ltd., Annual General Meeting, Jun 19, 2024 Alltop Technology Co., Ltd., Annual General Meeting, Jun 19, 2024. Location: Alltop Tech. Headquarters 3F, No.102, Sec. 3, Jhongshan Rd., Jhonghe City,Taipei County, Taiwan Taipei County Taiwan Agenda: To consider Report on the business of 2023; Audit Committee's review report of 2023; Report on employees' remuneration and directors' remuneration of 2023; Report on financial business-related ; and to discuss other matters. Buying Opportunity • Nov 24
Now 20% undervalued Over the last 90 days, the stock is up 9.6%. The fair value is estimated to be NT$228, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 3.5%. Revenue is forecast to grow by 33% in 2 years. Earnings is forecast to grow by 39% in the next 2 years. Major Estimate Revision • Nov 10
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from NT$2.29b to NT$2.38b. EPS estimate increased from NT$9.99 to NT$11.32 per share. Net income forecast to grow 25% next year vs 8.0% growth forecast for Electronic industry in Taiwan. Consensus price target down from NT$220 to NT$215. Share price fell 4.4% to NT$183 over the past week. Buying Opportunity • Nov 09
Now 21% undervalued Over the last 90 days, the stock is up 8.3%. The fair value is estimated to be NT$231, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 3.5%. Revenue is forecast to grow by 33% in 2 years. Earnings is forecast to grow by 39% in the next 2 years. Reported Earnings • Nov 05
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: NT$3.55 (up from NT$3.06 in 3Q 2022). Revenue: NT$682.4m (up 6.2% from 3Q 2022). Net income: NT$209.5m (up 16% from 3Q 2022). Profit margin: 31% (up from 28% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 22%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 9.0% growth forecast for the Electronic industry in Taiwan. 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 23% per year, which means it is well ahead of earnings. Duyuru • Nov 04
Alltop Technology Co., Ltd. to Report Q3, 2023 Results on Nov 03, 2023 Alltop Technology Co., Ltd. announced that they will report Q3, 2023 results on Nov 03, 2023 New Risk • Oct 10
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 5.9% 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: Minor Risks Dividend is not well covered by earnings (99% payout ratio). Share price has been volatile over the past 3 months (5.9% average weekly change). Major Estimate Revision • Aug 11
Consensus EPS estimates increase by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from NT$2.23b to NT$2.29b. EPS estimate increased from NT$8.77 to NT$9.99 per share. Net income forecast to grow 17% next year vs 1.1% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$155 to NT$220. Share price rose 4.0% to NT$170 over the past week. Reported Earnings • Aug 07
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: NT$3.40 (up from NT$2.03 in 2Q 2022). Revenue: NT$596.0m (up 14% from 2Q 2022). Net income: NT$200.6m (up 68% from 2Q 2022). Profit margin: 34% (up from 23% in 2Q 2022). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 21%. Earnings per share (EPS) also surpassed analyst estimates by 54%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 7.9% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 17
Upcoming dividend of NT$9.40 per share at 5.6% yield Eligible shareholders must have bought the stock before 24 July 2023. Payment date: 17 August 2023. The company is paying out more than 100% of its profits and is paying out 94% of its cash flow. Trailing yield: 5.6%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.1%). Major Estimate Revision • May 06
Consensus EPS estimates fall by 26% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from NT$11.85 to NT$8.77. Revenue forecast unchanged from NT$2.23b at last update. Net income forecast to shrink 6.5% next year vs 9.2% decline forecast for Electronic industry in Taiwan. Consensus price target of NT$155 unchanged from last update. Share price was steady at NT$135 over the past week. Duyuru • May 06
Alltop Technology Co., Ltd. Announces the Appointment of Sean Chen as Corporate Governance Officer Alltop Technology Co., Ltd. announced the appointment of Sean Chen as Corporate Governance Officer, effective May 5, 2023. Sean Chen is Manager of Investor Management Department. Reason for the change is new replacement. Buying Opportunity • Apr 20
Now 20% undervalued Over the last 90 days, the stock is up 11%. The fair value is estimated to be NT$171, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.4% over the last 3 years. Earnings per share has grown by 5.8%. Revenue is forecast to grow by 13% in a year. Earnings is forecast to grow by 25% in the next year. Reported Earnings • Mar 31
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: NT$9.41 (down from NT$11.19 in FY 2021). Revenue: NT$2.31b (down 12% from FY 2021). Net income: NT$554.1m (down 14% from FY 2021). Profit margin: 24% (in line with FY 2021). Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 9.3%. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 11% per year. Price Target Changed • Nov 16
Price target decreased to NT$148 Down from NT$190, the current price target is provided by 1 analyst. New target price is 21% above last closing price of NT$122. Stock is down 29% over the past year. The company is forecast to post earnings per share of NT$10.56 for next year compared to NT$11.19 last year. Reported Earnings • Nov 06
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: NT$3.06 (up from NT$2.71 in 3Q 2021). Revenue: NT$642.5m (down 5.4% from 3Q 2021). Net income: NT$180.5m (up 16% from 3Q 2021). Profit margin: 28% (up from 23% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 6.7% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Duyuru • Nov 05
Alltop Technology Co., Ltd. to Report Q3, 2022 Results on Nov 04, 2022 Alltop Technology Co., Ltd. announced that they will report Q3, 2022 results on Nov 04, 2022 Price Target Changed • Oct 28
Price target decreased to NT$148 Down from NT$190, the current price target is provided by 1 analyst. New target price is 36% above last closing price of NT$109. Stock is down 31% over the past year. The company is forecast to post earnings per share of NT$10.56 for next year compared to NT$11.19 last year. Valuation Update With 7 Day Price Move • Oct 12
Investor sentiment deteriorated over the past week After last week's 18% share price decline to NT$116, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Electronic industry in Taiwan. Total returns to shareholders of 43% over the past three years. Reported Earnings • Aug 07
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: NT$2.03 (down from NT$3.48 in 2Q 2021). Revenue: NT$524.7m (down 27% from 2Q 2021). Net income: NT$119.6m (down 38% from 2Q 2021). Profit margin: 23% (down from 27% in 2Q 2021). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates by 17%. Over the next year, revenue is forecast to grow 25%, compared to a 8.7% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 18
Upcoming dividend of NT$11.08 per share Eligible shareholders must have bought the stock before 25 July 2022. Payment date: 18 August 2022. Payout ratio is on the higher end at 95%, however this is supported by cash flows. Trailing yield: 7.8%. Within top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (4.7%). Price Target Changed • Jul 12
Price target decreased to NT$203 Down from NT$220, the current price target is provided by 1 analyst. New target price is 43% above last closing price of NT$142. Stock is down 18% over the past year. The company is forecast to post earnings per share of NT$13.00 for next year compared to NT$11.19 last year. Duyuru • Jul 07
Alltop Technology Co., Ltd. Announces Changes of Dividend Distribution Alltop Technology Co., Ltd. announced the changes of dividend distribution. Type and monetary amount of original dividend distribution: Total TWD 652,946,479 in cash, per shares TWD 11.16. Type and monetary amount of dividend distribution after the change: Total TWD 652,946,479 in cash, per shares TWD 11.07603885. Reason for the change: Converting CB into Common Stock to participate in distribution. Shareholders' meeting authorized Board of Directors to change dividend distribution when former reason, and Board of Directors authorized to President on June 23, 2022. Duyuru • Apr 13
Alltop Technology Co., Ltd. Announces on Behalf of the Subsidiary alltop Electronic(Suzhou) & Liquan Technology(Taicang) Co. Ltd. to Suspend Operation to Meet with Epidemic Policy Alltop Technology Co., Ltd. Announced on behalf of the subsidiary ALLTOP Electronic(Suzhou) & Liquan Technology(Taicang)CO. Ltd. suspended operation to meet with epidemic policy. Cause of occurrence: ALLTOP Electronic(Suzhou) & Liquan Technology(Taicang)CO.,Ltd. complies with the local government's epidemic prevention policy to suspend operation until April 17. Follow the local government¡¦s preventive measures and the following impact of operation depends on the government's relief status. 7.Any other matters that need to be specified: No significant impact on financial and business. Duyuru • Mar 06
Alltop Technology Co., Ltd., Annual General Meeting, Jun 23, 2022 Alltop Technology Co., Ltd., Annual General Meeting, Jun 23, 2022. Location: Alltop Tech. Headquarters, 3F, No.102, Sec. 3, Jhongshan Rd., Jhonghe City Taipei Taiwan Agenda: To consider 2021 Business Report; To report 2021 employees' remuneration and directors' remuneration; to consider Corporate Social Responsibility Best Practice Principles, Directors and Supervisors; and to consider any other matter; Audit Committee's review report of 2021; to consider amend Guidelines for Acquisition and Disposal of Assets, Articles of Incorporation,Rules of Procedure for Shareholders Meeting. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$2.71 (vs NT$2.65 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: NT$679.6m (up 15% from 3Q 2020). Net income: NT$155.9m (up 8.0% from 3Q 2020). Profit margin: 23% (down from 25% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improved over the past week After last week's 15% share price gain to NT$190, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 196% over the past three years. Valuation Update With 7 Day Price Move • Aug 12
Investor sentiment deteriorated over the past week After last week's 22% share price decline to NT$166, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 196% over the past three years. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$3.48 (vs NT$3.83 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$723.0m (up 4.7% from 2Q 2020). Net income: NT$194.0m (down 6.3% from 2Q 2020). Profit margin: 27% (down from 30% 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 22% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 03
Upcoming dividend of NT$9.13 per share Eligible shareholders must have bought the stock before 10 August 2021. Payment date: 31 August 2021. Trailing yield: 4.3%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (3.0%). Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improved over the past week After last week's 23% share price gain to NT$207, the stock trades at a trailing P/E ratio of 19.3x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 203% over the past three years. Reported Earnings • May 06
First quarter 2021 earnings released: EPS NT$2.15 (vs NT$0.98 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$532.5m (up 65% from 1Q 2020). Net income: NT$124.9m (up 148% from 1Q 2020). Profit margin: 24% (up from 16% 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 28% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 23
Full year 2020 earnings released: EPS NT$7.25 (vs NT$8.17 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$2.14b (up 8.2% from FY 2019). Net income: NT$519.4m (up 32% from FY 2019). Profit margin: 24% (up from 20% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 22% per year. Duyuru • Mar 12
Alltop Technology Co., Ltd., Annual General Meeting, Jun 23, 2021 Alltop Technology Co., Ltd., Annual General Meeting, Jun 23, 2021. Location: Alltop Tech. Headquarters Taipei County Taiwan Upcoming Dividend • Mar 11
Upcoming Dividend of NT$2.50 Per Share Will be paid on the 29th of March to those who are registered shareholders by the 18th of March. The trailing yield of 4.6% is below the top quartile of Taiwanese dividend payers (4.9%), but it is higher than industry peers (3.1%). Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improved over the past week After last week's 20% share price gain to NT$125, the stock is trading at a trailing P/E ratio of 16.3x, up from the previous P/E ratio of 13.6x. This compares to an average P/E of 18x in the Electronic industry in Taiwan. Total returns to shareholders over the past three years are 108%. Duyuru • Feb 27
Pan Jit International Inc. (TSEC:2481) completed the acquisition of Alltop Technology Co., Ltd. (GTSM:3526) from shareholders. Pan Jit International Inc. (TSEC:2481) made a tender offer to acquire Alltop Technology Co., Ltd. (GTSM:3526) from shareholders for TWD 7.6 billion on January 22, 2021. The shares will be acquired at TWD 105 per share in cash. The consideration will be financed from internal resources. The Board of Directors of Pan Jit International Inc. approved the deal. The tender offer will start no later than January 26, 2021. As of February 5, 2021, all the conditions for tender offer has been satisfied. The offer period will expire on February 25, 2021. Wilson Hsu of Wlcc Accountancy Corp acted as accountant and Jennifer Wang of Chen&Lin acted as legal advisor for Pan Jit.
Pan Jit International Inc. (TSEC:2481) completed the acquisition of Alltop Technology Co., Ltd. (GTSM:3526) from shareholders on February 26, 2021. Is New 90 Day High Low • Feb 20
New 90-day high: NT$104 The company is up 26% from its price of NT$82.30 on 20 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 24% over the same period. Duyuru • Jan 24
Pan Jit International Inc. (TSEC:2481) made a tender offer to acquire Alltop Technology Co., Ltd. (GTSM:3526) from shareholders for TWD 7.6 billion. Pan Jit International Inc. (TSEC:2481) made a tender offer to acquire Alltop Technology Co., Ltd. (GTSM:3526) from shareholders for TWD 7.6 billion on January 22, 2021. The shares will be acquired at TWD 105 per share in cash. The consideration will be financed from internal resources. The Board of Directors of Pan Jit International Inc. approved the deal. The tender offer will start no later than January 26, 2021. Wlcc Accountancy Corp acted as accountant for Pan Jit. Is New 90 Day High Low • Jan 22
New 90-day high: NT$94.50 The company is up 18% from its price of NT$80.40 on 23 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 24% over the same period. Is New 90 Day High Low • Jan 04
New 90-day high: NT$87.50 The company is up 5.0% from its price of NT$83.00 on 07 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 16% over the same period. Analyst Estimate Surprise Post Earnings • Nov 09
Revenue and earnings miss expectations Revenue missed analyst estimates by 0.4%. Earnings per share (EPS) also missed analyst estimates by 4.2%. Reported Earnings • Nov 09
Third quarter 2020 earnings released: EPS NT$1.99 The company reported a solid third quarter result with improved revenues, although earnings and profit margins were flat. Third quarter 2020 results: Revenue: NT$590.2m (up 2.6% from 3Q 2019). Net income: NT$144.4m (flat on 3Q 2019). Profit margin: 25% (in line with 3Q 2019). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Duyuru • Nov 07
Alltop Technology Co., Ltd. to Report Q3, 2020 Results on Nov 06, 2020 Alltop Technology Co., Ltd. announced that they will report Q3, 2020 results on Nov 06, 2020 Is New 90 Day High Low • Oct 27
New 90-day low: NT$77.70 The company is down 8.0% from its price of NT$84.40 on 29 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 Electronic industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$57.39 per share. Is New 90 Day High Low • Oct 12
New 90-day low: NT$80.10 The company is down 16% from its price of NT$95.20 on 14 July 2020. The Taiwanese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$57.41 per share. Is New 90 Day High Low • Sep 26
New 90-day low: NT$81.30 The company is down 11% from its price of NT$91.70 on 24 June 2020. The Taiwanese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$57.00 per share.