Declared Dividend • 12h
Dividend increased to NT$0.58 Dividend of NT$0.58 is 29% higher than last year. Ex-date: 9th September 2026 Payment date: 8th October 2026 Dividend yield will be 1.4%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is not adequately covered by earnings (99% earnings payout ratio) nor is it covered by cash flows (dividend approximately 5x free cash flows). The dividend has increased by an average of 17% per year over the past 4 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 9.5% to bring the payout ratio under control, which is more than the 4.4% EPS growth achieved over the last 5 years. Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to NT$35.55, the stock trades at a trailing P/E ratio of 62.6x. Average trailing P/E is 24x in the Telecom industry in Taiwan. Total returns to shareholders of 101% over the past three years. Reported Earnings • May 16
First quarter 2026 earnings released: EPS: NT$0.016 (vs NT$0.17 in 1Q 2025) First quarter 2026 results: EPS: NT$0.016 (down from NT$0.17 in 1Q 2025). Revenue: NT$1.82b (up 46% from 1Q 2025). Net income: NT$2.23m (down 91% from 1Q 2025). Profit margin: 0.1% (down from 1.9% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 27
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to NT$57.90, the stock trades at a trailing P/E ratio of 78x. Average trailing P/E is 25x in the Telecom industry in Taiwan. Total returns to shareholders of 148% over the past three years. Buy Or Sell Opportunity • Apr 23
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.0% to NT$64.60. The fair value is estimated to be NT$83.61, 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 10%. Reported Earnings • Mar 17
Full year 2025 earnings released: EPS: NT$0.75 (vs NT$0.93 in FY 2024) Full year 2025 results: EPS: NT$0.75 (down from NT$0.93 in FY 2024). Revenue: NT$6.11b (up 11% from FY 2024). Net income: NT$105.4m (down 19% from FY 2024). Profit margin: 1.7% (down from 2.4% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 38% per year, which means it is well ahead of earnings. Duyuru • Mar 12
HwaCom Systems Inc., Annual General Meeting, Jun 26, 2026 HwaCom Systems Inc., Annual General Meeting, Jun 26, 2026. Location: 18 floor building. b no,102, sec.1 hsin t`ai 5th rd., sijhih district, new taipei city Taiwan Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$57.10, the stock trades at a trailing P/E ratio of 64.2x. Average trailing P/E is 23x in the Telecom industry in Taiwan. Total returns to shareholders of 280% over the past three years. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to NT$65.60, the stock trades at a trailing P/E ratio of 73.7x. Average trailing P/E is 23x in the Telecom industry in Taiwan. Total returns to shareholders of 345% over the past three years. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to NT$56.90, the stock trades at a trailing P/E ratio of 64x. Average trailing P/E is 24x in the Telecom industry in Taiwan. Total returns to shareholders of 304% over the past three years. Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$43.45, the stock trades at a trailing P/E ratio of 48.8x. Average trailing P/E is 23x in the Telecom industry in Taiwan. Total returns to shareholders of 191% over the past three years. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$33.25, the stock trades at a trailing P/E ratio of 37.4x. Average trailing P/E is 24x in the Telecom industry in Taiwan. Total returns to shareholders of 133% over the past three years. Reported Earnings • Nov 15
Third quarter 2025 earnings released: EPS: NT$0.22 (vs NT$0.14 loss in 3Q 2024) Third quarter 2025 results: EPS: NT$0.22 (up from NT$0.14 loss in 3Q 2024). Revenue: NT$1.64b (up 20% from 3Q 2024). Net income: NT$31.2m (up NT$51.6m from 3Q 2024). Profit margin: 1.9% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Nov 04
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 6.7% 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 (6.7% average weekly change). Profit margins are more than 30% lower than last year (1.3% net profit margin). Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$25.15, the stock trades at a trailing P/E ratio of 47.8x. Average trailing P/E is 26x in the Telecom industry in Taiwan. Total returns to shareholders of 79% over the past three years. New Risk • Sep 02
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.07b (US$99.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 91% Paying a dividend despite having no free cash flows. Minor Risks Profit margins are more than 30% lower than last year (1.3% net profit margin). Market cap is less than US$100m (NT$3.07b market cap, or US$99.9m). Declared Dividend • Aug 20
Dividend increased to NT$0.45 Dividend of NT$0.45 is 50% higher than last year. Ex-date: 2nd September 2025 Payment date: 30th September 2025 Dividend yield will be 2.0%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is not adequately covered by earnings (91% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 13% per year over the past 3 years and payments have been stable during that time. Earnings per share declined by 4.9% over the last 5 years, which if continued should see the payout ratio increase to a potentially unsustainable range. Reported Earnings • Aug 19
Second quarter 2025 earnings released: NT$0.56 loss per share (vs NT$0.56 profit in 2Q 2024) Second quarter 2025 results: NT$0.56 loss per share (down from NT$0.56 profit in 2Q 2024). Revenue: NT$975.0m (down 22% from 2Q 2024). Net loss: NT$78.6m (down 200% from profit in 2Q 2024). 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 12% per year, which means it is well ahead of earnings. New Risk • May 31
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.1% 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. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (28% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (NT$2.98b market cap, or US$99.4m). Reported Earnings • May 17
First quarter 2025 earnings released: EPS: NT$0.17 (vs NT$0.55 loss in 1Q 2024) First quarter 2025 results: EPS: NT$0.17 (up from NT$0.55 loss in 1Q 2024). Revenue: NT$1.25b (up 38% from 1Q 2024). Net income: NT$23.9m (up NT$101.5m from 1Q 2024). Profit margin: 1.9% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • May 01
HwaCom Systems Inc. to Report Q1, 2025 Results on May 08, 2025 HwaCom Systems Inc. announced that they will report Q1, 2025 results on May 08, 2025 Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$21.55, the stock trades at a trailing P/E ratio of 23.4x. Average trailing P/E is 26x in the Telecom industry in Taiwan. Total returns to shareholders of 34% over the past three years. New Risk • Apr 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 8.0% 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 Risk High level of non-cash earnings (54% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Market cap is less than US$100m (NT$2.50b market cap, or US$76.1m). Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$17.85, the stock trades at a trailing P/E ratio of 19.3x. Average trailing P/E is 24x in the Telecom industry in Taiwan. Total returns to shareholders of 5.4% over the past three years. Reported Earnings • Apr 02
Full year 2024 earnings released: EPS: NT$0.93 (vs NT$0.42 in FY 2023) Full year 2024 results: EPS: NT$0.93 (up from NT$0.42 in FY 2023). Revenue: NT$5.50b (up 4.8% from FY 2023). Net income: NT$130.6m (up 127% from FY 2023). Profit margin: 2.4% (up from 1.1% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Duyuru • Mar 26
HwaCom Systems Inc. announced that it expects to receive TWD 300 million in funding HwaCom Systems Inc announced a private placement to issue Zero Coupon Series 5 Domestic Unsecured Convertible Corporate Bond for gross proceeds of TWD 300,000,000 on March 25, 2025. The transaction has been approved by shareholders, bears zero coupon rate, matures after 3 years Duyuru • Mar 13
HwaCom Systems Inc., Annual General Meeting, Jun 20, 2025 HwaCom Systems Inc., Annual General Meeting, Jun 20, 2025. Location: 18 floor building. b no,102, sec.1 hsin t`ai 5th rd., sijhih district, new taipei city Taiwan New Risk • Dec 16
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.10b (US$95.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (54% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (0.4% net profit margin). Market cap is less than US$100m (NT$3.10b market cap, or US$95.5m). Reported Earnings • Nov 19
Third quarter 2024 earnings released: NT$0.15 loss per share (vs NT$0.86 profit in 3Q 2023) Third quarter 2024 results: NT$0.15 loss per share (down from NT$0.86 profit in 3Q 2023). Revenue: NT$1.37b (down 5.5% from 3Q 2023). Net loss: NT$20.4m (down 117% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Duyuru • Nov 05
HwaCom Systems Inc. to Report Q3, 2024 Results on Nov 12, 2024 HwaCom Systems Inc. announced that they will report Q3, 2024 results on Nov 12, 2024 Declared Dividend • Aug 22
Dividend of NT$0.30 announced Shareholders will receive a dividend of NT$0.30. Ex-date: 5th September 2024 Payment date: 30th September 2024 Dividend yield will be 1.3%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is covered by earnings (24% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased by an average of 1.7% per year over the past 2 years, but has still been somewhat stable with no excessively large reductions to payments. 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 21
HwaCom Systems Inc. Announces Dividend for the Year Ended December 31, 2023, Payable on September 30, 2024 HwaCom Systems Inc. announced dividend of TWD 42,026,770, TWD 0.30 per share for the year ended December 31, 2023, payable on September 30, 2024. Ex-rights (Ex-dividend) record date: September 11, 2024. Ex-rights (Ex-dividend) date: September 5, 2024. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.56 (vs NT$0.61 loss in 2Q 2023) Second quarter 2024 results: EPS: NT$0.56 (up from NT$0.61 loss in 2Q 2023). Revenue: NT$1.25b (up 72% from 2Q 2023). Net income: NT$78.8m (up NT$161.9m from 2Q 2023). Profit margin: 6.3% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. 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 11% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Aug 07
Now 31% overvalued after recent price rise Over the last 90 days, the stock has risen 4.4% to NT$22.45. The fair value is estimated to be NT$17.14, however this is not to be taken as a sell 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 12%. New Risk • Aug 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.05b (US$93.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Profit margins are more than 30% lower than last year (0.02% net profit margin). Shareholders have been diluted in the past year (3.6% increase in shares outstanding). Market cap is less than US$100m (NT$3.05b market cap, or US$93.6m). Duyuru • Aug 02
HwaCom Systems Inc. to Report Q2, 2024 Results on Aug 09, 2024 HwaCom Systems Inc. announced that they will report Q2, 2024 results on Aug 09, 2024 New Risk • Jul 29
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 6.6% 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 (6.6% average weekly change). Profit margins are more than 30% lower than last year (0.02% net profit margin). Shareholders have been diluted in the past year (3.6% increase in shares outstanding). Reported Earnings • May 19
First quarter 2024 earnings released: NT$0.55 loss per share (vs NT$0.16 loss in 1Q 2023) First quarter 2024 results: NT$0.55 loss per share (further deteriorated from NT$0.16 loss in 1Q 2023). Revenue: NT$903.9m (down 34% from 1Q 2023). Net loss: NT$77.6m (loss widened 275% from 1Q 2023). 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 8% per year, which means it is well ahead of earnings. Duyuru • May 03
HwaCom Systems Inc. to Report Q1, 2024 Results on May 10, 2024 HwaCom Systems Inc. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 10, 2024 Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$23.85, the stock trades at a trailing P/E ratio of 58x. Average trailing P/E is 26x in the Telecom industry in Taiwan. Total returns to shareholders of 27% over the past three years. Reported Earnings • Mar 21
Full year 2023 earnings released: EPS: NT$0.42 (vs NT$1.06 in FY 2022) Full year 2023 results: EPS: NT$0.42 (down from NT$1.06 in FY 2022). Revenue: NT$5.25b (down 14% from FY 2022). Net income: NT$57.6m (down 58% from FY 2022). Profit margin: 1.1% (down from 2.3% in FY 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 but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Duyuru • Mar 08
HwaCom Systems Inc., Annual General Meeting, May 24, 2024 HwaCom Systems Inc., Annual General Meeting, May 24, 2024. Location: 18F, Building B, No.102, Sec.1, Xintai 5th Rd. Xizhi Dist., New Taipei City New Tapei City Taiwan Agenda: To consider 2023 business report; to consider audit committee's review of the annual final accounting ledgers and statements in 2023; to consider report employees' and directors' remuneration in 2023; to consider report on share repurchase; to consider 2023 business report and financial report; and to consider other issues. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$23.95, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 25x in the Telecom industry in Taiwan. Total returns to shareholders of 58% over the past three years. Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: NT$0.86 (vs NT$0.58 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.86 (up from NT$0.58 in 3Q 2022). Revenue: NT$1.45b (down 17% from 3Q 2022). Net income: NT$120.1m (up 60% from 3Q 2022). Profit margin: 8.3% (up from 4.3% in 3Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 01
Upcoming dividend of NT$0.30 per share at 1.6% yield Eligible shareholders must have bought the stock before 08 September 2023. Payment date: 06 October 2023. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (5.6%). Lower than average of industry peers (4.0%). Reported Earnings • Aug 19
Second quarter 2023 earnings released: NT$0.61 loss per share (vs NT$0.17 loss in 2Q 2022) Second quarter 2023 results: NT$0.61 loss per share (further deteriorated from NT$0.17 loss in 2Q 2022). Revenue: NT$728.8m (down 21% from 2Q 2022). Net loss: NT$83.1m (loss widened 267% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$24.15, the stock trades at a trailing P/E ratio of 23.2x. Average trailing P/E is 23x in the Telecom industry in Taiwan. Total returns to shareholders of 84% over the past three years. Reported Earnings • Mar 31
Full year 2022 earnings released: EPS: NT$1.06 (vs NT$1.43 in FY 2021) Full year 2022 results: EPS: NT$1.06 (down from NT$1.43 in FY 2021). Revenue: NT$6.09b (down 1.6% from FY 2021). Net income: NT$138.1m (down 20% from FY 2021). Profit margin: 2.3% (down from 2.8% in FY 2021). The decrease in margin was driven by lower revenue. 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 17% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 19
Third quarter 2022 earnings released: EPS: NT$0.58 (vs NT$1.63 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.58 (down from NT$1.63 in 3Q 2021). Revenue: NT$1.73b (down 35% from 3Q 2021). Net income: NT$75.3m (down 61% from 3Q 2021). Profit margin: 4.3% (down from 7.3% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 05
Upcoming dividend of NT$0.31 per share Eligible shareholders must have bought the stock before 12 September 2022. Payment date: 07 October 2022. Trailing yield: 1.9%. Lower than top quartile of Taiwanese dividend payers (6.5%). Lower than average of industry peers (3.8%). Reported Earnings • Aug 16
Second quarter 2022 earnings released: NT$0.18 loss per share (vs NT$0.37 loss in 2Q 2021) Second quarter 2022 results: NT$0.18 loss per share (up from NT$0.37 loss in 2Q 2021). Revenue: NT$922.2m (down 11% from 2Q 2021). Net loss: NT$22.7m (loss narrowed 49% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • May 17
First quarter 2022 earnings released: NT$0.54 loss per share (vs NT$0.044 loss in 1Q 2021) First quarter 2022 results: NT$0.54 loss per share (down from NT$0.044 loss in 1Q 2021). Revenue: NT$1.06b (up 9.6% from 1Q 2021). Net loss: NT$70.4m (loss widened NT$65.2m from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: NT$1.43 (vs NT$0.021 in FY 2020) Full year 2021 results: EPS: NT$1.43 (up from NT$0.021 in FY 2020). Revenue: NT$6.19b (up 38% from FY 2020). Net income: NT$171.5m (up NT$169.0m from FY 2020). Profit margin: 2.8% (up from 0.1% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 7% per year. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$1.63 (vs NT$0.40 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$2.65b (up 161% from 3Q 2020). Net income: NT$193.5m (up NT$241.1m from 3Q 2020). Profit margin: 7.3% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Reported Earnings • Aug 15
Second quarter 2021 earnings released: NT$0.37 loss per share (vs NT$0.021 loss in 2Q 2020) The company reported a soft second quarter result with increased losses and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: NT$1.04b (up 15% from 2Q 2020). Net loss: NT$44.4m (loss widened NT$41.8m from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Reported Earnings • May 15
First quarter 2021 earnings released: NT$0.04 loss per share (vs NT$0.47 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: NT$966.1m (up 9.1% from 1Q 2020). Net loss: NT$5.24m (loss narrowed 91% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$0.02 (vs NT$0.74 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$4.48b (down 1.0% from FY 2019). Net income: NT$2.55m (down 97% from FY 2019). Profit margin: 0.1% (down from 1.8% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Duyuru • Mar 17
HwaCom Systems Inc., Annual General Meeting, Jun 28, 2021 HwaCom Systems Inc., Annual General Meeting, Jun 28, 2021. Is New 90 Day High Low • Dec 18
New 90-day high: NT$17.10 The company is up 3.0% from its price of NT$16.55 on 18 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Telecom industry, which is flat over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: NT$0.40 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: NT$1.01b (down 10% from 3Q 2019). Net loss: NT$47.6m (down 305% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Nov 11
New 90-day low: NT$15.00 The company is down 14% from its price of NT$17.40 on 13 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is up 2.0% over the same period. Is New 90 Day High Low • Oct 13
New 90-day low: NT$15.30 The company is down 14% from its price of NT$17.80 on 15 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is down 2.0% over the same period. 
