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Hai Kwang Enterprise 2038.TW · TWD

Materials · Taiwan Stock Exchange · 🇹🇼 Taiwan

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11.05

+0.91%

Close of 9 Nov 2026, in TWD

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At a glance

Figures in TWD, from our data supplier.

FY2025

Revenue

TWD 8.92bn

FY2016FY2025

Net income

−TWD 109.0m

FY2016FY2025

Free cash flow

TWD 126.3m

FY2016FY2025

Shareholders' equity

TWD 3.79bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueTWD 8.92bnTWD 9.72bnTWD 9.37bnTWD 11.04bnTWD 10.23bnTWD 7.60bnTWD 7.95bnTWD 8.14bnTWD 5.27bnTWD 4.76bn
Gross profitTWD 117.6mTWD 240.5mTWD 252.3mTWD 309.1mTWD 732.8mTWD 356.8m−TWD 189.7m−TWD 176.3mTWD 199.3mTWD 78.7m
Research and developmentTWD 3.5mTWD 3.0mTWD 1.2mTWD 576,000TWD 788,000TWD 2.0mTWD 3.0mTWD 6.3mTWD 6.1mTWD 2.1m
Operating income−TWD 77.7mTWD 138.0mTWD 48.4mTWD 301.7mTWD 595.5mTWD 240.8m−TWD 247.5m−TWD 326.0mTWD 31.4mTWD 269.7m
Net income−TWD 109.0mTWD 37.7mTWD 53.3mTWD 210.8mTWD 459.7mTWD 158.0m−TWD 259.3m−TWD 197.4mTWD 10.8mTWD 112.7m
Diluted earnings per share-0.560.190.271.092.460.83-1.40-1.070.060.61

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsTWD 9.65bnTWD 10.20bnTWD 9.45bnTWD 9.40bnTWD 8.98bnTWD 8.30bnTWD 7.90bnTWD 8.26bnTWD 7.96bnTWD 5.92bn
Cash and short-term investmentsTWD 564.0mTWD 589.1mTWD 418.2mTWD 598.1mTWD 592.1mTWD 215.5mTWD 440.5mTWD 578.0mTWD 1.20bnTWD 1.35bn
Total liabilitiesTWD 5.66bnTWD 5.99bnTWD 5.49bnTWD 5.45bnTWD 5.07bnTWD 4.76bnTWD 4.45bnTWD 4.54bnTWD 3.74bnTWD 2.15bn
DebtTWD 4.64bnTWD 4.85bnTWD 4.21bnTWD 4.03bnTWD 3.42bnTWD 3.56bnTWD 3.39bnTWD 3.65bnTWD 2.77bnTWD 1.33bn
Shareholders' equityTWD 3.79bnTWD 3.98bnTWD 3.70bnTWD 3.65bnTWD 3.60bnTWD 3.06bnTWD 2.97bnTWD 3.24bnTWD 3.74bnTWD 3.29bn
Shares outstanding195m194m194m194m187m191m185m185m185m185m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operationsTWD 374.4m−TWD 292.4mTWD 109.9mTWD 45.7mTWD 1.18bn−TWD 55.0mTWD 369.9m−TWD 823.6m−TWD 1.24bnTWD 863.5m
Capital spending−TWD 248.2m−TWD 266.3m−TWD 529.8m−TWD 451.4m−TWD 580.5m−TWD 398.6m−TWD 286.3m−TWD 238.5m−TWD 170.8m−TWD 75.9m
Free cash flowTWD 126.3m−TWD 558.6m−TWD 420.0m−TWD 405.7mTWD 604.4m−TWD 453.6mTWD 83.6m−TWD 1.06bn−TWD 1.41bnTWD 787.6m
Dividends paid———−TWD 271.9m−TWD 90.6m−TWD 90.6m−TWD 90.6m−TWD 90.6m——

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
RevenueTWD 2.05bnTWD 1.94bnTWD 2.11bnTWD 1.82bnTWD 2.48bnTWD 2.52bnTWD 2.66bnTWD 2.48bn
Gross profitTWD 18.3mTWD 36.9m−TWD 13.4m−TWD 25.4mTWD 62.1mTWD 94.3mTWD 42.4mTWD 63.8m
Operating income−TWD 31.8mTWD 49.4m−TWD 115.0m−TWD 57.9mTWD 12.5mTWD 63.4mTWD 26.3mTWD 14.1m
Net income−TWD 26.1mTWD 30.2m−TWD 84.8m−TWD 68.0m−TWD 27.4mTWD 71.2m−TWD 569,000−TWD 16.3m
Diluted earnings per share-0.140.16-0.44-0.35-0.140.37-0.00-0.08
Cash from operationsTWD 271.0mTWD 735.0mTWD 25.0m−TWD 131.0mTWD 161.0mTWD 318.0m−TWD 544.0mTWD 364.0m
Capital spending−TWD 37.0m−TWD 123.0m−TWD 69.0m−TWD 41.0m−TWD 68.0m−TWD 69.0m−TWD 69.0m−TWD 60.0m
Free cash flowTWD 234.0mTWD 612.0m−TWD 44.0m−TWD 172.0mTWD 93.0mTWD 249.0m−TWD 613.0mTWD 304.0m
Total assetsTWD 9.08bnTWD 9.06bnTWD 9.65bnTWD 9.89bnTWD 9.73bnTWD 10.03bnTWD 10.20bnTWD 9.50bn
Cash and short-term investmentsTWD 721.0mTWD 499.8mTWD 564.0mTWD 608.2mTWD 769.9mTWD 667.2mTWD 589.1mTWD 479.8m
DebtTWD 3.92bnTWD 3.94bnTWD 4.63bnTWD 4.63bnTWD 4.63bnTWD 4.67bnTWD 4.84bnTWD 4.17bn
Shareholders' equityTWD 3.81bnTWD 3.83bnTWD 3.79bnTWD 3.91bnTWD 3.94bnTWD 3.99bnTWD 3.98bnTWD 3.89bn

Financial ratios

Data as of 24 Oct 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Gross margin1.3%2.5%2.7%2.8%7.2%4.7%
Operating margin-0.9%1.4%1.3%2.7%5.8%3.2%
Net margin-1.2%0.4%0.6%1.9%4.5%2.1%
Return on equity-2.9%0.9%1.4%5.8%12.8%5.2%
Return on assets-1.1%0.4%0.6%2.2%5.1%1.9%
Free cash flow yield25.0%-1.1%25.7%20.0%73.8%14.0%
Revenue growth-8.2%3.8%-15.2%8.0%34.5%-4.4%
Earnings growth-389.1%-29.3%-74.7%-54.1%190.9%-160.9%
Current ratio1.45x1.16x1.01x1.09x1.05x1.10x
Debt to equity1.22x1.21x1.13x1.05x0.85x1.09x
Equity ratio39.2%39.1%39.2%38.9%40.1%36.9%
Interest coverage-0.77x1.48x1.43x4.74x15.82x4.68x
R&D as a share of sales0.0%0.0%0.0%0.0%0.0%0.0%
Buybacks as a share of market value-0.4%0.0%0.1%-4.0%2.2%-3.0%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue-6.9%3.3%1.1%
Operating income——-11.8%
Net income——-5.9%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin1.9%2.4%3.5%2.0%
Operating margin0.3%1.1%2.2%0.8%
Net margin-0.4%0.5%1.4%0.3%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Price to earnings-26.078.279.919.313.624.6-4.9-7.0139.010.1
Price to sales0.30.30.50.40.60.50.20.20.30.2

Dividends and splits

Per share, in the currency the company pays

Paid for 0 years. Last went ex-dividend on 26 Aug 2022.

FY2022FY2021FY2013FY2012FY2011FY2009FY2008
Paid in the year1.4010.4670.2490.9190.2511.6711.334
  • 1020-for-1000 split · 28 Aug 2025
  • 21-for-20 split · 28 Aug 2023
  • 21-for-20 split · 23 Aug 2017

Sources and methodology

Data on this tab
Our data supplier
Chart on the Overview
TradingView

Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.