L 
Lung Hwa Electronics Co 2424.TW · TWD
Consumer Discretionary · Taiwan Stock Exchange · 🇹🇼 Taiwan
11.80
+7.27%
Close of 9 Nov 2026, in TWD
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At a glance
Figures in TWD, from our data supplier.
Revenue
TWD 187.7m
FY2016FY2025
Net income
−TWD 78.1m
FY2016FY2025
Free cash flow
TWD 15.9m
FY2016FY2025
Shareholders' equity
TWD 311.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 187.7m | TWD 140.1m | TWD 106.7m | TWD 79.4m | TWD 13.1m | TWD 18.0m | TWD 22.9m | TWD 2.7m | TWD 24.4m | TWD 2.8m |
| Research and development | TWD 35.3m | TWD 45.6m | TWD 30.2m | TWD 18.2m | TWD 36.2m | TWD 20.4m | TWD 7.9m | TWD 6.2m | TWD 7.1m | TWD 8.5m |
| Operating income | −TWD 70.0m | −TWD 191.8m | −TWD 187.6m | −TWD 162.6m | −TWD 215.3m | −TWD 164.0m | −TWD 105.7m | −TWD 48.8m | −TWD 14.5m | −TWD 26.7m |
| Net income | −TWD 78.1m | −TWD 187.1m | −TWD 194.6m | −TWD 170.0m | −TWD 232.4m | −TWD 148.9m | −TWD 112.4m | −TWD 41.3m | −TWD 49.2m | −TWD 45.5m |
| Diluted earnings per share | -1.15 | -3.25 | -3.78 | -3.78 | -5.72 | -8.27 | -6.26 | -2.30 | -3.22 | -2.51 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | TWD 493.5m | TWD 595.8m | TWD 665.4m | TWD 552.5m | TWD 464.3m | TWD 583.5m | TWD 608.0m | TWD 370.5m | TWD 407.0m | TWD 456.9m |
| Cash and short-term investments | TWD 181.3m | TWD 203.8m | TWD 223.8m | TWD 193.1m | TWD 81.1m | TWD 51.5m | TWD 34.6m | TWD 133.2m | TWD 332.6m | TWD 371.5m |
| Total liabilities | TWD 159.6m | TWD 286.1m | TWD 373.6m | TWD 258.2m | TWD 248.5m | TWD 454.3m | TWD 360.3m | TWD 11.5m | TWD 5.5m | TWD 4.9m |
| Debt | TWD 131.5m | TWD 255.3m | TWD 317.0m | TWD 233.8m | TWD 220.5m | TWD 323.8m | TWD 323.5m | TWD 1.1m | TWD 1.1m | — |
| Shareholders' equity | TWD 311.0m | TWD 290.5m | TWD 279.2m | TWD 293.6m | TWD 215.9m | TWD 129.6m | TWD 247.7m | TWD 359.0m | TWD 401.5m | TWD 452.0m |
| Shares outstanding | 68m | 58m | 51m | 45m | 41m | 18m | 18m | 18m | 15m | 18m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | TWD 16.4m | −TWD 98.8m | −TWD 121.7m | −TWD 89.1m | −TWD 107.5m | −TWD 65.6m | −TWD 37.8m | −TWD 44.0m | −TWD 35.9m | −TWD 26.2m |
| Capital spending | −TWD 478,000 | −TWD 2.3m | −TWD 4.3m | −TWD 8.2m | −TWD 13.1m | −TWD 43.4m | −TWD 104.2m | −TWD 151.1m | −TWD 4.3m | −TWD 12,000 |
| Free cash flow | TWD 15.9m | −TWD 101.0m | −TWD 126.0m | −TWD 97.3m | −TWD 120.6m | −TWD 109.0m | −TWD 141.9m | −TWD 195.1m | −TWD 40.2m | −TWD 26.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 49.8m | TWD 36.8m | TWD 55.0m | TWD 30.5m | TWD 37.5m | TWD 64.7m | TWD 69.1m | TWD 26.3m |
| Operating income | −TWD 23.9m | −TWD 42.1m | −TWD 23.4m | −TWD 39.8m | −TWD 39.0m | −TWD 9.2m | −TWD 4.4m | −TWD 48.8m |
| Net income | −TWD 24.1m | −TWD 34.7m | −TWD 2.9m | −TWD 34.8m | −TWD 24.8m | −TWD 15.6m | −TWD 14.7m | −TWD 47.0m |
| Diluted earnings per share | -0.41 | -0.59 | -0.04 | -0.51 | -0.36 | -0.23 | -0.26 | -0.82 |
| Cash from operations | −TWD 4.0m | −TWD 19.0m | TWD 9.0m | −TWD 17.0m | TWD 4.0m | TWD 20.0m | −TWD 5.0m | −TWD 32.0m |
| Total assets | TWD 380.3m | TWD 425.0m | TWD 493.5m | TWD 462.0m | TWD 502.8m | TWD 563.4m | TWD 595.8m | TWD 602.0m |
| Cash and short-term investments | TWD 64.6m | TWD 122.1m | TWD 181.3m | TWD 158.7m | TWD 179.0m | TWD 201.9m | TWD 203.8m | TWD 226.9m |
| Debt | TWD 63.3m | TWD 76.5m | TWD 109.7m | TWD 90.9m | TWD 125.6m | TWD 157.3m | TWD 197.0m | TWD 198.7m |
| Shareholders' equity | TWD 252.0m | TWD 276.2m | TWD 311.0m | TWD 295.6m | TWD 295.6m | TWD 294.3m | TWD 290.5m | TWD 294.8m |
Financial ratios
Data as of 1 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -36.5% | -123.8% | -174.1% | -204.5% | -1642.0% | -911.5% |
| Net margin | -41.6% | -133.6% | -182.4% | -214.1% | -1772.8% | -828.1% |
| Return on equity | -25.1% | -64.4% | -69.7% | -57.9% | -107.6% | -114.9% |
| Return on assets | -15.8% | -31.4% | -29.2% | -30.8% | -50.0% | -25.5% |
| Free cash flow yield | 1.9% | -12.6% | -17.2% | -13.6% | -17.6% | -9.3% |
| Revenue growth | 34.0% | 31.3% | 34.3% | 506.0% | -27.1% | -21.4% |
| Earnings growth | -58.2% | -3.8% | 14.4% | -26.8% | 56.1% | 32.5% |
| Current ratio | 1.99x | 1.21x | 1.28x | 1.25x | 0.66x | 0.59x |
| Debt to equity | 0.35x | 0.68x | 0.81x | 0.63x | 0.73x | 2.37x |
| Equity ratio | 63.0% | 48.8% | 42.0% | 53.1% | 46.5% | 22.2% |
| Interest coverage | -10.55x | -14.72x | -14.02x | -19.22x | -25.32x | -20.69x |
| R&D as a share of sales | 18.8% | 32.6% | 28.3% | 22.9% | 275.8% | 113.2% |
| Buybacks as a share of market value | -18.3% | -11.9% | -14.5% | -10.7% | -125.6% | -0.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 33.2% | 59.9% | 45.3% |
| Operating income | -24.5% | -15.6% | 9.2% |
| Net income | -22.8% | -12.1% | 11.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -79.9% | -119.1% | -181.9% | -201.9% |
| Net margin | -80.9% | -122.6% | -185.5% | -213.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -30.9 | -19.6 | -8.0 | -5.5 | -3.7 | -3.1 | -7.7 | -28.2 | -19.9 | -14.8 |
| Price to sales | 12.8 | 26.1 | 14.6 | 11.9 | 65.1 | 26.0 | 37.8 | 433.8 | 40.2 | 238.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 1000-to-600 reverse split · 21 Dec 2020
- 1000-to-750 reverse split · 31 Mar 2011
- 100-to-48.3377 reverse split · 14 Aug 2008
- 100-to-76.1896 reverse split · 7 Mar 2007
- 1.011-for-1 split · 2 Dec 2004
- 21-for-20 split · 25 Nov 2002
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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