New Risk • Apr 21
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 Less than 1 year of cash runway based on free cash flow trend (-NT$328m free cash flow). Earnings have declined by 38% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (8.8% average weekly change). New Risk • Apr 15
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -NT$328m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-NT$328m free cash flow). Earnings have declined by 38% per year over the past 5 years. New Risk • Mar 27
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -NT$328m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 38% per year over the past 5 years. Minor Risk Less than 1 year of cash runway based on current free cash flow (-NT$328m). Reported Earnings • Mar 27
Full year 2025 earnings released: NT$1.40 loss per share (vs NT$2.17 loss in FY 2024) Full year 2025 results: NT$1.40 loss per share (improved from NT$2.17 loss in FY 2024). Revenue: NT$490.3m (up 59% from FY 2024). Net loss: NT$119.9m (loss narrowed 9.7% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 30% per year, which means it is well ahead of earnings. Duyuru • Mar 13
Abonmax Co., Ltd, Annual General Meeting, Jun 16, 2026 Abonmax Co., Ltd, Annual General Meeting, Jun 16, 2026. Location: 4 floor no,286, sec.1 kao t`ieh chan w. rd., jhongli district, taoyuan city Taiwan Duyuru • Mar 10
Abonmax Co., Ltd to Report Fiscal Year 2025 Results on Mar 12, 2026 Abonmax Co., Ltd announced that they will report fiscal year 2025 results on Mar 12, 2026 Reported Earnings • Nov 17
Third quarter 2025 earnings released: NT$0.23 loss per share (vs NT$0.46 loss in 3Q 2024) Third quarter 2025 results: NT$0.23 loss per share (improved from NT$0.46 loss in 3Q 2024). Revenue: NT$119.7m (up 55% from 3Q 2024). Net loss: NT$19.3m (loss narrowed 42% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 99% per year, which means it is well ahead of earnings. New Risk • Aug 17
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -NT$253m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-NT$253m free cash flow). Share price has been highly volatile over the past 3 months (9.4% average weekly change). Earnings have declined by 9.2% per year over the past 5 years. Shareholders have been substantially diluted in the past year (88% increase in shares outstanding). Duyuru • Jun 14
Abonmax Co., Ltd Approves Board Elections Abonmax Co. Ltd. at its 2025 Annual General Shareholders' Meeting held on June 13, 2025, approved Newly elected directors: STAR TREND ENTERPRISE CORP. Representative: CHOU,WEI-KUN Newly elected directors:Star Trend Co. Ltd. Representative:Liu Chen Chen Newly elected directors: Zhenling Biotechnology Co. Ltd. Representative:HUANG HUI JIE Newly elected directors: HUANG DE LUN Newly elected independent directors: XU MING REN Newly elected independent directors: CHEN JIAN LIANG. Reported Earnings • May 15
First quarter 2025 earnings released: NT$0.21 loss per share (vs NT$0.33 loss in 1Q 2024) First quarter 2025 results: NT$0.21 loss per share. Revenue: NT$118.3m (up 98% from 1Q 2024). Net loss: NT$17.6m (loss widened 23% from 1Q 2024). Duyuru • May 06
Abonmax Co., Ltd to Report Q1, 2025 Results on May 13, 2025 Abonmax Co., Ltd announced that they will report Q1, 2025 results on May 13, 2025 Duyuru • Apr 11
Abonmax Co., Ltd Announces Accounting Officer Changes, Effective from May 2, 2025 Abonmax Co. Ltd. announced the resignation of FANG,SI-YU /Manager of Accounting as accounting officer. Reason for the change: personal career planning. Effective date:2025/05/02. Chen Jiamin will act as interim accounting officer and new appointment will be assigned by the coming BoD meeting. Reported Earnings • Apr 05
Full year 2024 earnings released: NT$2.17 loss per share (vs NT$0.56 loss in FY 2023) Full year 2024 results: NT$2.17 loss per share (further deteriorated from NT$0.56 loss in FY 2023). Revenue: NT$308.0m (down 40% from FY 2023). Net loss: NT$132.8m (loss widened 446% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 58% per year, which means it is well ahead of earnings. Duyuru • Mar 06
Abonmax Co., Ltd to Report Fiscal Year 2024 Results on Mar 13, 2025 Abonmax Co., Ltd announced that they will report fiscal year 2024 results on Mar 13, 2025 Board Change • Dec 12
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Tien-Hsing Li was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 19
Third quarter 2024 earnings released: NT$0.46 loss per share (vs NT$0.13 loss in 3Q 2023) Third quarter 2024 results: NT$0.46 loss per share (further deteriorated from NT$0.13 loss in 3Q 2023). Revenue: NT$77.5m (down 30% from 3Q 2023). Net loss: NT$33.2m (loss widened NT$27.7m from 3Q 2023). 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 17% per year, which means it is well ahead of earnings. Duyuru • Nov 02
Abonmax Co., Ltd Announces Resignation of Tseng Hsin Chieh as Institutional Director Abonmax Co. Ltd. announced resignation of the Company's Institutional director representative. Name and resume of the previous position holder: Tseng Hsin Chieh, AbonMax general manager. Reason for the change: Resigned due to busy work. The Company received the resignation notice from Director representative November 1, 2024,and the resignation will effective from October 30, 2024. Duyuru • Oct 22
Abonmax Co., Ltd Announces Board Changes Abonmax Co. Ltd. announced the resignation of LIN,YI-YING as juristic-person representative director. Resume of the previous position holder: AbonMax Green Energy Division VP. The company announced the appointment of Tseng Hsin Chieh as juristic-person representative director, effective 21 October 2024. Resume of the new position holder: AbonMax general manager. New Risk • Oct 11
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 95% 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 Share price has been highly volatile over the past 3 months (12% average weekly change). Shareholders have been substantially diluted in the past year (95% increase in shares outstanding). Minor Risk Market cap is less than US$100m (NT$2.39b market cap, or US$74.4m). Reported Earnings • Aug 17
Second quarter 2024 earnings released: NT$0.97 loss per share (vs NT$0.28 loss in 2Q 2023) Second quarter 2024 results: NT$0.97 loss per share (further deteriorated from NT$0.28 loss in 2Q 2023). Revenue: NT$64.8m (down 61% from 2Q 2023). Net loss: NT$42.4m (loss widened 252% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 29% per year, which means it is well ahead of earnings. Duyuru • Aug 01
Abonmax Co., Ltd to Report Q2, 2024 Results on Aug 08, 2024 Abonmax Co., Ltd announced that they will report Q2, 2024 results on Aug 08, 2024 New Risk • Jul 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.0% 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 Risk Share price has been highly volatile over the past 3 months (9.4% average weekly change). Minor Risks Shareholders have been diluted in the past year (4.0% increase in shares outstanding). Market cap is less than US$100m (NT$1.81b market cap, or US$55.9m). New Risk • Jun 21
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 6.5% 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 Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (NT$1.18b market cap, or US$36.5m). Duyuru • Jun 18
Abonmax Co., Ltd announced that it expects to receive TWD 320 million in funding Abonmax Co., Ltd announced a private placement of 32,000,000 common shares at a price of TWD 10 per share for the gross proceeds of TWD 320,000,000 on June 17, 2024. The transaction has been approved by the shareholders of the company and is expected to close from July 17, 2024 to July 26, 2024. Reported Earnings • May 19
First quarter 2024 earnings released: NT$0.33 loss per share (vs NT$0.40 loss in 1Q 2023) First quarter 2024 results: NT$0.33 loss per share (improved from NT$0.40 loss in 1Q 2023). Revenue: NT$59.7m (down 55% from 1Q 2023). Net loss: NT$14.3m (loss narrowed 19% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Duyuru • May 03
Abonmax Co., Ltd to Report Q1, 2024 Results on May 09, 2024 Abonmax Co., Ltd announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 09, 2024 Reported Earnings • Mar 20
Full year 2023 earnings released: NT$0.56 loss per share (vs NT$1.24 loss in FY 2022) Full year 2023 results: NT$0.56 loss per share (improved from NT$1.24 loss in FY 2022). Revenue: NT$512.5m (down 1.6% from FY 2022). Net loss: NT$24.3m (loss narrowed 51% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Duyuru • Mar 16
Abonmax Co., Ltd announced that it expects to receive TWD 67.6 million in funding Abonmax Co., Ltd announced a private placement of 4,000,000 common shares at a price of TWD 16.9 per share for the gross proceeds of CAD 67,600,000 on March 14, 2024. Duyuru • Mar 06
Abonmax Co., Ltd, Annual General Meeting, Jun 28, 2024 Abonmax Co., Ltd, Annual General Meeting, Jun 28, 2024. Location: 20th Floor, No.112, Section 1,Xintai 5th Road, Xizhi District, New Taipei City (Xizhi Office) Taipei Taiwan Agenda: To report the business of 2023; To report Audit Committee check report; To report the issuance of securities in private placement; To report Accumulated losses reach one-half of the paid-in capital. New Risk • Feb 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 5.4% 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 Share price has been volatile over the past 3 months (5.4% average weekly change). Market cap is less than US$100m (NT$892.5m market cap, or US$28.6m). Duyuru • Feb 01
Abonmax Co., Ltd Announces Change of Juristic-Person Representative Director Abonmax Co. Ltd. announced the change of juristic-person representative director. Name of the previous position holder: LIN,YI-SHAN. Resume of the previous position holder: General Manager of AbonTouch. Name of the new position holder: ZHONG,KAI-XUN. Resume of the new position holder: AY Commercial Law Offices/lawyer. Effective date of the new appointment is February 01, 2024. Duyuru • Dec 01
Abonmax Co., Ltd Announces Executive Changes, Effective December 1, 2023 Abonmax Co. Ltd. announced the change of the general manager. Name of the previous position holder: Chou Wei Kun; Resume of the previous position holder: AbonMax Co.,Ltd /Chairman and general manager. Name of the new position holder: Tseng Hsin Chieh; Resume of the new position holder: AbonMax Co.,Ltd /Project Manager. Reason for the change: job relocation. Effective date of the new appointment is December 1, 2023. Duyuru • Nov 11
Abonmax Co., Ltd to Report Q3, 2023 Results on Nov 09, 2023 Abonmax Co., Ltd announced that they will report Q3, 2023 results on Nov 09, 2023 Duyuru • Sep 19
Abonmax Co., Ltd Announces Change of Juristic-Person Representative Director Abonmax Co. Ltd. announced the change of juristic-person representative director. Name of the previous position holder: CHENG, HSIANG-JEN. Resume of the previous position holder: General Manager of ASTRAL EPOCH INTERNATIONAL CORPORATION. Name of the new position holder: LIN, YI-YING. Resume of the new position holder: AbonMax Green Energy Division VP. Effective date of the new appointment is September 18, 2023. Duyuru • Aug 11
Abonmax Co., Ltd Announces the Resignation of Yang, Hui-An as Accounting Officer, Effective from August 16, 2023 Abonmax Co. Ltd. announced the resignation of Yang, Hui-An as Accounting Officer. Name, title, and resume of the previous position holder: Accounting officer: YANG, HUI-AN/AbonMax Assistant Manager of Accounting. Reason for the change: Personal planning. Effective date: August 16, 2023. Reported Earnings • Aug 11
Second quarter 2023 earnings released: NT$0.28 loss per share (vs NT$0.39 loss in 2Q 2022) Second quarter 2023 results: NT$0.28 loss per share (improved from NT$0.39 loss in 2Q 2022). Revenue: NT$166.9m (up 25% from 2Q 2022). Net loss: NT$12.0m (loss narrowed 22% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Buying Opportunity • Aug 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be NT$22.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 19% over the last 3 years. Earnings per share has grown by 68%. Reported Earnings • Apr 01
Full year 2022 earnings released: NT$1.24 loss per share (vs NT$0.054 profit in FY 2021) Full year 2022 results: NT$1.24 loss per share (down from NT$0.054 profit in FY 2021). Revenue: NT$520.7m (down 47% from FY 2021). Net loss: NT$49.7m (down NT$51.8m from profit in FY 2021). Over the last 3 years on average, earnings per share has increased by 78% 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 25
Abonmax Co., Ltd announced that it has received TWD 34 million in funding Abonmax Co., Ltd announced a private placement of 4,000,000 shares at issue price of TWD 8.5 per share for gross proceeds of TWD 34,000,000 on November 24, 2022. The transaction included participation from GSTAR TREND ENTERPRISE CORP. 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. 4 non-independent directors. Independent Director Hua-Rong Shen was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Third quarter 2022 earnings released: NT$0.23 loss per share (vs NT$0.23 loss in 3Q 2021) Third quarter 2022 results: NT$0.23 loss per share (improved from NT$0.23 loss in 3Q 2021). Revenue: NT$116.8m (down 44% from 3Q 2021). Net loss: NT$9.11m (flat on 3Q 2021). Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Duyuru • Aug 11
Abonmax Co., Ltd Announces Change of Accounting Officer Abonmax Co. Ltd. announced that LIU,ZHEN-ZHEN position is adjusted with LIN,LI-REN, Accounting Manager, as accounting officer, effective August 10, 2022. Reported Earnings • May 13
First quarter 2022 earnings released: NT$0.18 loss per share (vs NT$0.045 profit in 1Q 2021) First quarter 2022 results: NT$0.18 loss per share (down from NT$0.045 profit in 1Q 2021). Revenue: NT$151.4m (down 45% from 1Q 2021). Net loss: NT$6.98m (down 488% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 31
Full year 2021 earnings released: EPS: NT$0.05 (vs NT$1.63 loss in FY 2020) Full year 2021 results: EPS: NT$0.05 (up from NT$1.63 loss in FY 2020). Revenue: NT$976.6m (up 8.5% from FY 2020). Net income: NT$2.13m (up NT$63.1m from FY 2020). Profit margin: 0.2% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 15
Third quarter 2021 earnings released: NT$0.23 loss per share (vs NT$0.56 loss in 3Q 2020) The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2021 results: Revenue: NT$207.9m (down 12% from 3Q 2020). Net loss: NT$9.17m (loss narrowed 55% from 3Q 2020). 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 14% per year, which means it is well ahead of earnings. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$0.26 (vs NT$0.72 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$301.1m (up 65% from 2Q 2020). Net income: NT$10.2m (up NT$36.8m from 2Q 2020). Profit margin: 3.4% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • May 17
First quarter 2021 earnings released: EPS NT$0.05 (vs NT$0.27 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$274.3m (up 53% from 1Q 2020). Net income: NT$1.80m (up NT$11.8m from 1Q 2020). Profit margin: 0.7% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 30
Full year 2020 earnings released: NT$1.63 loss per share (vs NT$3.95 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: NT$900.4m (down 7.4% from FY 2019). Net loss: NT$61.0m (loss narrowed 52% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Duyuru • Jan 28
Abonmax Co., Ltd Announces Executive Changes Abonmax Co. Ltd. announced that Name, title, and resume of the previous position holder: Chen Guan Feng,accounting officer 4.Name, title, and resume of the new position holder: Liu Zhen Zhen,Chief Financial Officer, acting as interim accounting officer, with effect from January 26, 2021. Is New 90 Day High Low • Jan 28
New 90-day low: NT$17.45 The company is down 11% from its price of NT$19.70 on 30 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 30% over the same period. Is New 90 Day High Low • Dec 29
New 90-day high: NT$21.95 The company is up 30% from its price of NT$16.90 on 30 September 2020. The Taiwanese market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 18% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: NT$0.56 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$237.1m (up 2.7% from 3Q 2019). Net loss: NT$20.4m (loss widened 79% from 3Q 2019). 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 4% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Oct 30
New 90-day high: NT$19.70 The company is up 7.0% from its price of NT$18.40 on 31 July 2020. The Taiwanese market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 3.0% over the same period.