M
32.45
+2.04%
Close of 9 Nov 2026, in TWD
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At a glance
Figures in TWD, from our data supplier.
Revenue
TWD 1.58bn
FY2016FY2025
Net income
−TWD 108.8m
FY2016FY2025
Free cash flow
−TWD 32.9m
FY2016FY2025
Shareholders' equity
TWD 1.55bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 1.58bn | TWD 1.37bn | TWD 1.16bn | TWD 1.06bn | TWD 3.92bn | TWD 614.2m | TWD 552.3m | TWD 407.3m | TWD 427.5m | TWD 399.9m |
| Gross profit | TWD 905.0m | TWD 753.8m | TWD 517.1m | TWD 73.1m | TWD 2.53bn | TWD 228.2m | TWD 221.1m | TWD 79.7m | TWD 87.9m | TWD 54.2m |
| Research and development | TWD 451.9m | TWD 393.3m | TWD 1.33bn | TWD 1.32bn | TWD 1.38bn | TWD 803.4m | TWD 664.2m | TWD 551.9m | TWD 450.4m | TWD 431.2m |
| Operating income | −TWD 105.0m | −TWD 210.7m | −TWD 1.23bn | −TWD 1.67bn | TWD 789.2m | −TWD 912.2m | −TWD 762.3m | −TWD 762.4m | −TWD 687.0m | −TWD 922.7m |
| Net income | −TWD 108.8m | −TWD 204.7m | −TWD 561.3m | −TWD 675.9m | −TWD 52.6m | −TWD 337.9m | −TWD 255.7m | −TWD 442.7m | −TWD 466.8m | −TWD 568.3m |
| Diluted earnings per share | -0.78 | -1.47 | -4.03 | -4.85 | -0.38 | -2.43 | -1.84 | -3.19 | -3.37 | -4.10 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | TWD 6.18bn | TWD 6.71bn | TWD 8.53bn | TWD 9.98bn | TWD 8.20bn | TWD 6.15bn | TWD 4.83bn | TWD 4.60bn | TWD 4.87bn | TWD 4.82bn |
| Cash and short-term investments | — | — | TWD 4.59bn | TWD 5.07bn | TWD 3.00bn | TWD 2.26bn | TWD 916.1m | TWD 1.17bn | TWD 1.23bn | TWD 1.07bn |
| Total liabilities | TWD 1.46bn | TWD 1.67bn | TWD 3.53bn | TWD 3.51bn | TWD 1.77bn | TWD 1.65bn | TWD 2.14bn | TWD 1.66bn | TWD 1.69bn | TWD 1.28bn |
| Debt | TWD 421.3m | TWD 1.02bn | TWD 2.86bn | TWD 2.77bn | TWD 992.1m | TWD 1.18bn | TWD 1.68bn | TWD 1.36bn | TWD 1.39bn | TWD 1.07bn |
| Shareholders' equity | TWD 1.55bn | TWD 1.58bn | TWD 1.59bn | TWD 2.19bn | TWD 2.39bn | TWD 1.82bn | TWD 1.36bn | TWD 1.54bn | TWD 1.84bn | TWD 2.20bn |
| Shares outstanding | 139m | 139m | 139m | 139m | 139m | 139m | 139m | 139m | 139m | 139m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | TWD 40.5m | TWD 37.9m | −TWD 569.4m | −TWD 1.13bn | TWD 517.5m | −TWD 671.4m | −TWD 560.2m | −TWD 529.8m | −TWD 455.6m | −TWD 468.6m |
| Capital spending | −TWD 73.4m | −TWD 58.7m | −TWD 50.9m | −TWD 151.4m | −TWD 144.5m | −TWD 140.3m | −TWD 113.8m | −TWD 124.1m | −TWD 110.7m | −TWD 566.2m |
| Free cash flow | −TWD 32.9m | −TWD 20.8m | −TWD 620.3m | −TWD 1.28bn | TWD 372.9m | −TWD 811.7m | −TWD 674.0m | −TWD 653.9m | −TWD 566.4m | −TWD 1.03bn |
| Dividends paid | −TWD 57.8m | −TWD 54.2m | −TWD 37.6m | −TWD 30.0m | — | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 284.7m | TWD 261.5m | TWD 326.7m | TWD 395.7m | TWD 360.8m | TWD 499.4m | TWD 330.6m | TWD 436.6m |
| Gross profit | TWD 170.6m | TWD 137.9m | TWD 185.3m | TWD 163.4m | TWD 201.3m | TWD 355.1m | TWD 162.7m | TWD 230.3m |
| Operating income | TWD 19.0m | −TWD 67.1m | −TWD 158.2m | −TWD 38.2m | −TWD 58.2m | TWD 149.5m | −TWD 52.6m | TWD 4.0m |
| Net income | −TWD 26.0m | −TWD 53.1m | −TWD 116.8m | −TWD 56.4m | −TWD 38.0m | TWD 102.5m | −TWD 114.0m | −TWD 26.9m |
| Diluted earnings per share | -0.19 | -0.38 | -0.84 | -0.41 | -0.27 | 0.74 | -0.82 | -0.19 |
| Cash from operations | −TWD 88.0m | −TWD 91.0m | TWD 136.0m | −TWD 18.0m | −TWD 47.0m | −TWD 28.0m | TWD 156.0m | −TWD 28.0m |
| Capital spending | −TWD 271.0m | −TWD 103.0m | −TWD 6.0m | −TWD 38.0m | −TWD 17.0m | −TWD 10.0m | −TWD 9.0m | −TWD 24.0m |
| Free cash flow | −TWD 359.0m | −TWD 194.0m | TWD 130.0m | −TWD 56.0m | −TWD 64.0m | −TWD 38.0m | TWD 147.0m | −TWD 52.0m |
| Total assets | TWD 6.90bn | TWD 6.95bn | TWD 6.18bn | TWD 6.34bn | TWD 6.51bn | TWD 6.62bn | TWD 6.71bn | TWD 6.75bn |
| Debt | TWD 1.10bn | TWD 1.12bn | TWD 421.3m | TWD 433.9m | TWD 392.4m | TWD 401.9m | TWD 411.3m | TWD 420.6m |
| Shareholders' equity | TWD 1.48bn | TWD 1.49bn | TWD 1.55bn | TWD 1.64bn | TWD 1.69bn | TWD 1.69bn | TWD 1.58bn | TWD 1.68bn |
Financial ratios
Data as of 18 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 57.2% | 54.9% | 44.7% | 6.9% | 64.6% | 37.2% | — |
| Operating margin | -12.4% | -5.6% | -106.5% | -157.9% | 20.1% | -148.5% | — |
| Net margin | -6.9% | -14.9% | -48.5% | -64.0% | -1.3% | -55.0% | — |
| Return on equity | -7.0% | -12.9% | -35.3% | -30.8% | -2.2% | -18.6% | — |
| Return on assets | -1.8% | -3.1% | -6.6% | -6.8% | -0.6% | -5.5% | — |
| Free cash flow yield | — | 2.0% | -10.5% | -19.7% | 13.4% | -10.8% | -9.0% |
| Revenue growth | 15.3% | 18.6% | 9.6% | -73.1% | 538.8% | 11.2% | — |
| Earnings growth | -46.8% | -63.5% | -17.0% | 1184.6% | -84.4% | 32.1% | — |
| Current ratio | 4.68x | 3.96x | 2.05x | 6.40x | 4.62x | 3.24x | — |
| Debt to equity | 0.27x | 0.26x | 1.66x | 1.15x | 0.35x | 0.56x | — |
| Equity ratio | 25.1% | 23.6% | 18.7% | 22.0% | 29.2% | 29.5% | — |
| Interest coverage | -8.45x | -2.10x | -22.08x | -42.25x | 41.39x | -28.61x | — |
| R&D as a share of sales | 28.6% | 28.6% | 114.7% | 124.9% | 35.1% | 130.8% | — |
| Buybacks as a share of market value | — | 0.1% | 0.1% | -0.4% | 0.1% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 14.4% | 20.8% | 15.9% |
| Operating income | -60.2% | -35.1% | -17.9% |
| Net income | -45.6% | -20.3% | -14.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 56.1% | 43.5% | 51.6% | 46.8% |
| Operating margin | -10.7% | -62.2% | -34.4% | -60.9% |
| Net margin | -10.6% | -30.0% | -20.0% | -35.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -41.5 | -22.0 | -11.1 | -6.9 | -151.6 | -24.4 | -33.8 | -14.1 | -10.5 | -19.4 |
| Price to sales | 2.9 | 3.3 | 5.4 | 4.4 | 2.0 | 13.4 | 15.6 | 15.3 | 11.5 | 27.5 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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