New Risk • Mar 23
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 8.3% 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 Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. High level of non-cash earnings (24% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (8.3% average weekly change). Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$11.95, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 23x in the Tech industry in Taiwan. Total returns to shareholders of 64% over the past three years. Reported Earnings • Mar 17
Full year 2025 earnings released: EPS: NT$1.58 (vs NT$0.27 loss in FY 2024) Full year 2025 results: EPS: NT$1.58 (up from NT$0.27 loss in FY 2024). Revenue: NT$7.18b (down 3.4% from FY 2024). Net income: NT$1.73b (up NT$2.02b from FY 2024). Profit margin: 24% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Duyuru • Mar 13
CMC Magnetics Corporation, Annual General Meeting, Jun 11, 2026 CMC Magnetics Corporation, Annual General Meeting, Jun 11, 2026. Location: 1 floor no,350, sung chiang rd., taipei city Taiwan Reported Earnings • Nov 16
Third quarter 2025 earnings released: EPS: NT$0.83 (vs NT$0.66 loss in 3Q 2024) Third quarter 2025 results: EPS: NT$0.83 (up from NT$0.66 loss in 3Q 2024). Revenue: NT$1.86b (down 2.5% from 3Q 2024). Net income: NT$905.7m (up NT$1.63b from 3Q 2024). Profit margin: 49% (up from net loss in 3Q 2024). 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 11% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 28
Upcoming dividend of NT$0.30 per share Eligible shareholders must have bought the stock before 04 September 2025. Payment date: 03 October 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.7%). New Risk • Aug 15
New major risk - Revenue and earnings growth Earnings have declined by 4.1% 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 Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 4.1% per year over the past 5 years. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: NT$0.55 (vs NT$1.29 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.55 (down from NT$1.29 in 2Q 2024). Revenue: NT$1.62b (down 8.3% from 2Q 2024). Net income: NT$597.1m (down 57% from 2Q 2024). Profit margin: 37% (down from 79% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • May 15
First quarter 2025 earnings released: NT$1.01 loss per share (vs NT$0.25 loss in 1Q 2024) First quarter 2025 results: NT$1.01 loss per share (further deteriorated from NT$0.25 loss in 1Q 2024). Revenue: NT$1.79b (down 2.7% from 1Q 2024). Net loss: NT$1.10b (loss widened 306% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Duyuru • May 06
CMC Magnetics Corporation to Report Q1, 2025 Results on May 13, 2025 CMC Magnetics Corporation announced that they will report Q1, 2025 results on May 13, 2025 New Risk • Mar 26
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 3.1% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. 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. Reported Earnings • Mar 19
Full year 2024 earnings released: NT$0.27 loss per share (vs NT$1.61 profit in FY 2023) Full year 2024 results: NT$0.27 loss per share (down from NT$1.61 profit in FY 2023). Revenue: NT$7.44b (flat on FY 2023). Net loss: NT$290.1m (down 117% from profit in FY 2023). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Duyuru • Mar 14
CMC Magnetics Corporation, Annual General Meeting, Jun 10, 2025 CMC Magnetics Corporation, Annual General Meeting, Jun 10, 2025. Location: 1 floor no,350, sung chiang rd., taipei city Taiwan Duyuru • Mar 06
CMC Magnetics Corporation to Report Fiscal Year 2024 Results on Mar 13, 2025 CMC Magnetics Corporation announced that they will report fiscal year 2024 results on Mar 13, 2025 Reported Earnings • Nov 17
Third quarter 2024 earnings released: NT$0.66 loss per share (vs NT$0.97 loss in 3Q 2023) Third quarter 2024 results: NT$0.66 loss per share (improved from NT$0.97 loss in 3Q 2023). Revenue: NT$1.91b (down 3.1% from 3Q 2023). Net loss: NT$719.9m (loss narrowed 32% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Duyuru • Nov 05
CMC Magnetics Corporation to Report Q3, 2024 Results on Nov 12, 2024 CMC Magnetics Corporation announced that they will report Q3, 2024 results on Nov 12, 2024 Upcoming Dividend • Aug 28
Upcoming dividend of NT$0.68 per share Eligible shareholders must have bought the stock before 04 September 2024. Payment date: 04 October 2024. Trailing yield: 5.1%. Within top quartile of Taiwanese dividend payers (4.3%). Higher than average of industry peers (3.1%). Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$1.28 (vs NT$1.27 in 2Q 2023) Second quarter 2024 results: EPS: NT$1.28 (up from NT$1.27 in 2Q 2023). Revenue: NT$1.76b (flat on 2Q 2023). Net income: NT$1.40b (up 1.0% from 2Q 2023). Profit margin: 79% (up from 78% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$13.55, the stock trades at a trailing P/E ratio of 18.4x. Average trailing P/E is 21x in the Tech industry in Taiwan. Total returns to shareholders of 64% over the past three years. Buy Or Sell Opportunity • Aug 15
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 7.1% to NT$13.55. The fair value is estimated to be NT$11.24, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 8.1% over the last 3 years. Meanwhile, the company has become profitable. Duyuru • Aug 06
CMC Magnetics Corporation to Report Q2, 2024 Results on Aug 13, 2024 CMC Magnetics Corporation announced that they will report Q2, 2024 results on Aug 13, 2024 Reported Earnings • May 18
First quarter 2024 earnings released: NT$0.25 loss per share (vs NT$0.62 profit in 1Q 2023) First quarter 2024 results: NT$0.25 loss per share (down from NT$0.62 profit in 1Q 2023). Revenue: NT$1.84b (up 6.2% from 1Q 2023). Net loss: NT$269.5m (down 140% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Duyuru • May 08
CMC Magnetics Corporation to Report Q1, 2024 Results on May 14, 2024 CMC Magnetics Corporation announced that they will report Q1, 2024 results on May 14, 2024 New Risk • Mar 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 682% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (137% cash payout ratio). Large one-off items impacting financial results. Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: NT$1.61 (vs NT$0.95 loss in FY 2022) Full year 2023 results: EPS: NT$1.61 (up from NT$0.95 loss in FY 2022). Revenue: NT$7.38b (down 4.0% from FY 2022). Net income: NT$1.75b (up NT$2.83b from FY 2022). Profit margin: 24% (up from net loss in FY 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Duyuru • Mar 15
CMC Magnetics Corporation, Annual General Meeting, Jun 14, 2024 CMC Magnetics Corporation, Annual General Meeting, Jun 14, 2024. Location: Importers and Exporters Association of Taipei(1F,No.350, Songjiang Rd Taipei Taiwan Agenda: To consider the operational report of 2023; to consider Supervisors review the financial statements of 2023; to consider Report of Remuneration of Directors and Employees; to consider proposal for the operational report and the financial statements of 2023; to consider proposal for 2023 Deficit Compensation; and to consider other matters. Duyuru • Jan 27
CMC Magnetics Corporation Appoints Wong Ming Sen as Chief Strategy Officer CMC Magnetics Corporation announced the appointment of Wong Ming Sen as Chief Strategy Officer, effective January 26, 2024. Wong Ming Sen is Chairman of the company. New Risk • Dec 07
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 122% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. New Risk • Sep 12
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 Large one-off items impacting financial results. Shareholders have been diluted in the past year (6.4% increase in shares outstanding). New Risk • Sep 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 840% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: NT$1.27 (vs NT$0.51 loss in 2Q 2022) Second quarter 2023 results: EPS: NT$1.27 (up from NT$0.51 loss in 2Q 2022). Revenue: NT$1.77b (down 5.4% from 2Q 2022). Net income: NT$1.39b (up NT$1.94b from 2Q 2022). Profit margin: 78% (up from net loss in 2Q 2022). The move to profitability was driven by lower expenses. 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 19% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Aug 12
CMC Magnetics Corporation Announces Change of Accounting Officer, Effective on August 21, 2023 CMC Magnetics Corporation announced that the change of accounting officer. Name, title, and resume of the previous position holder: Cheng Kai-Ling, Acconting Manager. Name, title, and resume of the new position holder: Lee Yung-Chih, Acconting Manager, Senior Manager Accounting of Medtecs (Taiwan) Corporation. The effective date is August 21, 2023. Reported Earnings • Mar 18
Full year 2022 earnings released: NT$0.95 loss per share (vs NT$0.15 profit in FY 2021) Full year 2022 results: NT$0.95 loss per share (down from NT$0.15 profit in FY 2021). Revenue: NT$7.69b (down 12% from FY 2021). Net loss: NT$1.08b (down NT$1.24b from profit in FY 2021). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Ming-Yen Lee was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Nov 12
CMC Magnetics Corporation Appoints Huang, Po-Chiao as Chief Information Security Officer CMC Magnetics Corporation announced appointment of Huang, Po-Chiao /Information Department of Deputy Manager as Chief information security officer. Effective Date is November 11, 2022. Upcoming Dividend • Oct 07
Upcoming dividend of NT$0.70 per share Eligible shareholders must have bought the stock before 14 October 2022. Payment date: 28 October 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Taiwanese dividend payers (6.9%). Lower than average of industry peers (7.6%). Reported Earnings • Aug 17
Second quarter 2022 earnings released: NT$0.48 loss per share (vs NT$0.25 loss in 2Q 2021) Second quarter 2022 results: NT$0.48 loss per share (down from NT$0.25 loss in 2Q 2021). Revenue: NT$1.87b (down 4.2% from 2Q 2021). Net loss: NT$554.3m (loss widened 93% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Duyuru • Aug 13
CMC Magnetics Corporation Appoints Cheng Kai-Ling as Accounting Officer CMC Magnetics Corporation appointed Cheng Kai-Ling, Manager, Manager Accounting DEPT. as accounting officer, effective date as August 12, 2022. Duyuru • Jul 09
CMC Magnetics Corporation Announces Change of Accounting Officer CMC Magnetics Corporation announced Change of Accounting officer. Name, title, and resume of the previous position holder: Yang Pi Yin, Senior Manager, Senior Manager Accounting DEPT. Name, title, and resume of the new position holder: Cheng Kai-Ling, Manager, Manager Accounting DEPT. Effective date is July 8, 2022. Reported Earnings • May 17
First quarter 2022 earnings released: NT$0.12 loss per share (vs NT$0.17 loss in 1Q 2021) First quarter 2022 results: NT$0.12 loss per share (up from NT$0.17 loss in 1Q 2021). Revenue: NT$2.05b (down 7.0% from 1Q 2021). Net loss: NT$137.5m (loss narrowed 28% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. 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 Ming-Yen Lee was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 30
Full year 2021 earnings released: EPS: NT$0.14 (vs NT$0.096 in FY 2020) Full year 2021 results: EPS: NT$0.14 (up from NT$0.096 in FY 2020). Revenue: NT$8.71b (down 7.3% from FY 2020). Net income: NT$161.2m (up 45% from FY 2020). Profit margin: 1.8% (up from 1.2% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Duyuru • Jan 30
CMC Magnetics Corporation Announces the Death of Kuo, Chun-Hui / Director CMC Magnetics Corporation announced the death of KUO, CHUN-HUI /Director. He has passed away on January 25, 2022. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment deteriorated over the past week After last week's 19% share price decline to NT$10.40, the stock trades at a trailing P/E ratio of 18.8x. Average trailing P/E is 15x in the Tech industry in Taiwan. Total returns to shareholders of 13% over the past three years. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 16% share price gain to NT$10.45, the stock trades at a trailing P/E ratio of 18.9x. Average trailing P/E is 16x in the Tech industry in Taiwan. Total returns to shareholders of 15% over the past three years. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.42 (vs NT$0.30 loss in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: NT$2.24b (down 5.7% from 3Q 2020). Net income: NT$482.9m (up NT$828.9m from 3Q 2020). Profit margin: 22% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 5% per year and the company’s share price has also fallen by 5% per year. Upcoming Dividend • Aug 30
Upcoming dividend of NT$0.70 per share Eligible shareholders must have bought the stock before 06 September 2021. Payment date: 05 October 2021. Trailing yield: 7.1%. Within top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (5.4%). Reported Earnings • Aug 18
Second quarter 2021 earnings released: NT$0.25 loss per share (vs NT$0.97 profit in 2Q 2020) The company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: NT$1.96b (up 1.7% from 2Q 2020). Net loss: NT$287.9m (down 126% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Executive Departure • Jul 28
Director Min-Cheng Yeh has left the company On the 23rd of July, Min-Cheng Yeh's tenure as Director ended after 24.1 years in the role. We don't have any record of a personal shareholding under Min-Cheng's name. A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 4.83 years. Executive Departure • Jul 28
Director Chun-Hui Kuo has left the company On the 23rd of July, Chun-Hui Kuo's tenure as Director ended after 15.1 years in the role. We don't have any record of a personal shareholding under Chun-Hui's name. A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 4.83 years. Executive Departure • Jul 28
Director Yi-An Zeng has left the company On the 23rd of July, Yi-An Zeng's tenure as Director ended after 18.2 years in the role. We don't have any record of a personal shareholding under Yi-An's name. A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 4.83 years. Duyuru • Jul 14
An unknown buyer acquired an unknown minority stake in Cathay Holdings Ltd. from CMC Magnetics Corporation (TWSE:2323). An unknown buyer acquired an unknown minority stake in Cathay Holdings Ltd. from CMC Magnetics Corporation (TWSE:2323) on July 12, 2021.
An unknown buyer completed the acquisition of an unknown minority stake in Cathay Holdings Ltd. from CMC Magnetics Corporation (TWSE:2323) on July 12, 2021. Reported Earnings • May 15
First quarter 2021 earnings released: NT$0.17 loss per share (vs NT$1.12 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$2.20b (down 18% from 1Q 2020). Net loss: NT$191.6m (loss narrowed 85% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 01
Full year 2020 earnings released: EPS NT$0.10 (vs NT$0.23 in FY 2019) The company reported a mediocre full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: NT$9.40b (up 33% from FY 2019). Net income: NT$111.1m (down 59% from FY 2019). Profit margin: 1.2% (down from 3.9% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Dec 30
New 90-day high: NT$9.79 The company is up 26% from its price of NT$7.80 on 30 September 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Tech industry, which is up 6.0% over the same period. Is New 90 Day High Low • Nov 19
New 90-day high: NT$8.46 The company is up 11% from its price of NT$7.59 on 21 August 2020. The Taiwanese market is also up 11% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Tech industry, which is flat over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: NT$0.30 loss per share The company reported a solid third quarter result with improved revenues and control over expenses, though losses increased. Third quarter 2020 results: Revenue: NT$2.37b (up 34% from 3Q 2019). Net loss: NT$346.1m (loss widened 33% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Duyuru • Aug 27
CMC Magnetics Corporation announced that it expects to receive TWD 411.94263 million in funding CMC Magnetics Corporation (TSEC:2323) announced a private placement of 113,000 shares at a price of TWD 3,645.51 per share for gross proceeds of TWD 411,942,630 on August 26, 2020. The operational capital of the company is TWD 6,793,598,000 
