L 
Lien Chang Electronic Enterprise Co 2431.TW · TWD
Information Technology · Taiwan Stock Exchange · 🇹🇼 Taiwan
9.96
+0.10%
Close of 9 Nov 2026, in TWD
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At a glance
Figures in TWD, from our data supplier.
Revenue
TWD 375.2m
FY2016FY2025
Net income
−TWD 232.5m
FY2016FY2025
Free cash flow
−TWD 32.3m
FY2016FY2025
Shareholders' equity
TWD 1.09bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 375.2m | TWD 403.6m | TWD 589.5m | TWD 1.00bn | TWD 1.57bn | TWD 2.30bn | TWD 2.97bn | TWD 2.43bn | TWD 2.30bn | TWD 3.04bn |
| Gross profit | −TWD 88.3m | −TWD 12.2m | −TWD 23.7m | TWD 54.5m | TWD 89.3m | TWD 290.8m | TWD 310.7m | TWD 128.9m | TWD 239.4m | TWD 397.7m |
| Research and development | TWD 27.5m | TWD 24.5m | TWD 24.1m | TWD 24.8m | TWD 35.6m | TWD 52.1m | TWD 65.4m | TWD 77.9m | TWD 83.3m | TWD 92.4m |
| Operating income | −TWD 199.1m | −TWD 116.4m | −TWD 142.0m | TWD 76.3m | TWD 159.2m | TWD 44.8m | TWD 30.6m | −TWD 252.7m | −TWD 45.1m | TWD 32.9m |
| Net income | −TWD 232.5m | −TWD 70.1m | −TWD 94.1m | TWD 10.4m | TWD 114.7m | TWD 46.8m | TWD 8.9m | −TWD 189.8m | −TWD 38.3m | TWD 97.1m |
| Diluted earnings per share | -2.10 | -0.63 | -0.85 | 0.09 | 1.07 | 0.42 | 0.08 | -1.71 | -0.34 | 0.86 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | TWD 1.30bn | TWD 1.59bn | TWD 1.55bn | TWD 1.88bn | TWD 2.07bn | TWD 2.30bn | TWD 2.21bn | TWD 2.29bn | TWD 2.37bn | TWD 2.84bn |
| Cash and short-term investments | TWD 877.5m | TWD 947.3m | TWD 914.1m | TWD 904.9m | TWD 996.4m | TWD 688.7m | TWD 471.7m | TWD 624.9m | TWD 899.9m | TWD 994.3m |
| Total liabilities | TWD 209.1m | TWD 223.3m | TWD 212.3m | TWD 435.3m | TWD 598.1m | TWD 920.7m | TWD 893.4m | TWD 987.8m | TWD 813.0m | TWD 1.15bn |
| Debt | TWD 14.5m | TWD 30.4m | TWD 53.4m | TWD 42.4m | TWD 81.3m | TWD 22.4m | TWD 29.0m | TWD 2.1m | TWD 1.8m | — |
| Shareholders' equity | TWD 1.09bn | TWD 1.36bn | TWD 1.34bn | TWD 1.45bn | TWD 1.47bn | TWD 1.38bn | TWD 1.32bn | TWD 1.30bn | TWD 1.56bn | TWD 1.68bn |
| Shares outstanding | 111m | 111m | 111m | 111m | 108m | 112m | 110m | 111m | 111m | 113m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −TWD 30.1m | TWD 38.0m | −TWD 61.4m | TWD 26.1m | −TWD 83.1m | TWD 250.8m | −TWD 49.6m | −TWD 251.6m | −TWD 299.9m | TWD 242.7m |
| Capital spending | −TWD 2.2m | −TWD 23.7m | −TWD 8.3m | −TWD 30.9m | −TWD 13.9m | −TWD 7.1m | −TWD 15.7m | −TWD 24.8m | −TWD 16.8m | −TWD 26.0m |
| Free cash flow | −TWD 32.3m | TWD 14.3m | −TWD 69.7m | −TWD 4.8m | −TWD 97.0m | TWD 243.7m | −TWD 65.4m | −TWD 276.3m | −TWD 316.7m | TWD 216.7m |
| Dividends paid | — | — | −TWD 11.1m | −TWD 49.9m | −TWD 27.7m | −TWD 27.7m | −TWD 27.7m | −TWD 27.7m | −TWD 85.4m | −TWD 29.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 58.8m | TWD 62.6m | TWD 68.4m | TWD 85.1m | TWD 105.8m | TWD 115.9m | TWD 104.2m | TWD 112.2m |
| Gross profit | TWD 2.7m | −TWD 4.0m | −TWD 81.2m | −TWD 8.2m | −TWD 1.1m | TWD 2.2m | −TWD 3.1m | −TWD 4.1m |
| Operating income | −TWD 21.1m | −TWD 27.5m | −TWD 115.4m | −TWD 32.8m | −TWD 27.4m | −TWD 23.4m | −TWD 29.0m | −TWD 30.2m |
| Net income | −TWD 13.2m | −TWD 22.5m | −TWD 176.4m | −TWD 22.1m | −TWD 22.0m | −TWD 12.0m | −TWD 16.8m | −TWD 16.8m |
| Diluted earnings per share | -0.12 | -0.20 | -1.59 | -0.20 | -0.20 | -0.11 | -0.15 | -0.15 |
| Cash from operations | −TWD 47.0m | −TWD 52.0m | −TWD 10.0m | −TWD 10.0m | TWD 11.0m | −TWD 21.0m | TWD 7.0m | TWD 12.0m |
| Capital spending | — | — | — | — | — | — | −TWD 5.0m | −TWD 16.0m |
| Free cash flow | — | — | — | — | — | — | TWD 2.0m | −TWD 4.0m |
| Total assets | TWD 1.20bn | TWD 1.24bn | TWD 1.30bn | TWD 1.43bn | TWD 1.38bn | TWD 1.52bn | TWD 1.59bn | TWD 1.57bn |
| Cash and short-term investments | TWD 815.4m | TWD 841.4m | TWD 877.5m | TWD 867.0m | TWD 857.3m | TWD 926.6m | TWD 947.3m | TWD 943.7m |
| Debt | TWD 5.3m | TWD 6.5m | TWD 5.8m | TWD 17.2m | TWD 5.5m | TWD 6.2m | TWD 16.4m | TWD 15.0m |
| Shareholders' equity | TWD 1.08bn | TWD 1.07bn | TWD 1.09bn | TWD 1.26bn | TWD 1.23bn | TWD 1.33bn | TWD 1.36bn | TWD 1.37bn |
Financial ratios
Data as of 1 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | -23.5% | -3.0% | -4.0% | 5.4% | 5.7% | 12.7% |
| Operating margin | -53.1% | -17.0% | -13.7% | 7.6% | 10.2% | 2.0% |
| Net margin | -62.0% | -17.4% | -16.0% | 1.0% | 7.3% | 2.0% |
| Return on equity | -21.4% | -5.1% | -7.0% | 0.7% | 7.8% | 3.4% |
| Return on assets | -17.9% | -4.4% | -6.1% | 0.6% | 5.5% | 2.0% |
| Free cash flow yield | -2.4% | 5.3% | -4.5% | 4.9% | -6.1% | 21.9% |
| Revenue growth | -7.0% | -31.5% | -41.1% | -36.1% | -31.8% | -22.5% |
| Earnings growth | 231.6% | -25.5% | -1003.3% | -90.9% | 145.3% | 427.2% |
| Current ratio | 5.42x | 6.12x | 7.08x | 3.99x | 3.17x | 2.06x |
| Debt to equity | 0.01x | 0.01x | 0.02x | 0.02x | 0.01x | 0.01x |
| Equity ratio | 83.9% | 85.9% | 86.3% | 76.9% | 71.1% | 59.9% |
| Interest coverage | -214.79x | -53.77x | -48.24x | 20.32x | 61.79x | 118.31x |
| R&D as a share of sales | 7.3% | 6.1% | 4.1% | 2.5% | 2.3% | 2.3% |
| Buybacks as a share of market value | 0.2% | 0.0% | 0.1% | -3.2% | 3.5% | -1.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -27.9% | -30.4% | -20.3% |
| Operating income | — | — | 14.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | -12.9% | -2.9% | 5.0% | 8.5% |
| Operating margin | -40.5% | -16.1% | -2.8% | -2.2% |
| Net margin | -38.9% | -16.3% | -3.6% | -1.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -5.4 | -22.0 | -13.6 | 105.6 | 13.0 | 29.3 | 141.6 | -5.2 | -45.1 | 16.5 |
| Price to sales | 3.4 | 3.8 | 2.2 | 1.1 | 0.9 | 0.6 | 0.4 | 0.4 | 0.8 | 0.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 31 Jul 2023.
| FY2023 | FY2022 | FY2021 | FY2017 | FY2016 | FY2015 | FY2011 | FY2010 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.10 | 0.45 | 0.25 | 0.77 | 0.27 | 0.18 | 0.19 | 0.266 |
- 1.055-for-1 split · 21 Jul 2011
- 1.07-for-1 split · 22 Jul 2010
- 1-to-1 reverse split · 22 Dec 2006
- 1.021-for-1 split · 30 Jul 2003
- 27-for-25 split · 13 Aug 2002
- 11-for-10 split · 11 Jul 2001
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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