C 
Chian Hsing Forging Industrial Co 4528.TWO · TWD
Consumer Discretionary · Taipei Exchange · 🇹🇼 Taiwan
13.85
-0.36%
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 25.7m
FY2016FY2025
Free cash flow
TWD 213.2m
FY2016FY2025
Shareholders' equity
TWD 2.24bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 1.58bn | TWD 1.71bn | TWD 1.95bn | TWD 2.43bn | TWD 2.54bn | TWD 2.26bn | TWD 2.84bn | TWD 2.81bn | TWD 2.74bn | TWD 2.24bn |
| Gross profit | TWD 237.7m | TWD 250.6m | TWD 355.7m | TWD 452.0m | TWD 557.1m | TWD 599.4m | TWD 697.1m | TWD 668.2m | TWD 728.6m | TWD 584.1m |
| Research and development | TWD 73.9m | TWD 75.9m | TWD 92.9m | TWD 118.8m | TWD 115.8m | TWD 138.1m | TWD 156.0m | TWD 47.7m | TWD 53.1m | TWD 61.2m |
| Operating income | TWD 3.4m | TWD 4.0m | TWD 118.4m | TWD 116.9m | TWD 221.7m | TWD 278.7m | TWD 312.7m | TWD 387.6m | TWD 450.7m | TWD 325.8m |
| Net income | −TWD 25.7m | TWD 823,000 | TWD 76.4m | TWD 180.1m | TWD 181.3m | TWD 233.2m | TWD 234.3m | TWD 277.9m | TWD 368.4m | TWD 235.3m |
| Diluted earnings per share | -0.31 | 0.01 | 0.91 | 2.35 | 2.37 | 3.05 | 3.06 | 3.64 | 4.38 | 2.80 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | TWD 3.64bn | TWD 3.66bn | TWD 3.87bn | TWD 4.41bn | TWD 4.61bn | TWD 3.97bn | TWD 3.95bn | TWD 3.86bn | TWD 3.83bn | TWD 3.28bn |
| Total liabilities | TWD 1.40bn | TWD 1.38bn | TWD 1.63bn | TWD 2.09bn | TWD 2.47bn | TWD 1.87bn | TWD 1.96bn | TWD 1.90bn | TWD 1.94bn | TWD 1.62bn |
| Debt | TWD 459.5m | TWD 578.4m | TWD 716.0m | TWD 871.7m | TWD 752.4m | TWD 587.4m | TWD 1.39bn | TWD 1.29bn | TWD 1.29bn | TWD 1.13bn |
| Shareholders' equity | TWD 2.24bn | TWD 2.28bn | TWD 2.24bn | TWD 2.32bn | TWD 2.14bn | TWD 2.10bn | TWD 1.99bn | TWD 1.96bn | TWD 1.89bn | TWD 1.66bn |
| Shares outstanding | 84m | 84m | 84m | 77m | 77m | 77m | 77m | 76m | 84m | 84m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | TWD 235.9m | TWD 265.9m | TWD 572.7m | TWD 218.9m | TWD 236.4m | TWD 352.6m | TWD 514.9m | TWD 578.7m | TWD 493.1m | TWD 376.0m |
| Capital spending | −TWD 22.7m | −TWD 47.6m | −TWD 163.4m | −TWD 446.9m | −TWD 491.3m | −TWD 274.8m | −TWD 385.7m | −TWD 318.1m | −TWD 350.6m | −TWD 308.9m |
| Free cash flow | TWD 213.2m | TWD 218.3m | TWD 409.3m | −TWD 228.0m | −TWD 254.9m | TWD 77.8m | TWD 129.2m | TWD 260.6m | TWD 142.5m | TWD 67.1m |
| Dividends paid | −TWD 16.8m | −TWD 50.5m | −TWD 109.4m | −TWD 38.3m | −TWD 137.7m | −TWD 137.7m | −TWD 160.7m | −TWD 168.3m | −TWD 130.1m | −TWD 153.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 360.7m | TWD 353.6m | TWD 439.4m | TWD 372.9m | TWD 394.2m | TWD 374.4m | TWD 422.2m | TWD 442.9m |
| Gross profit | TWD 89.4m | TWD 46.3m | TWD 71.6m | TWD 48.0m | TWD 65.5m | TWD 52.5m | TWD 68.7m | TWD 58.2m |
| Operating income | −TWD 29.9m | −TWD 11.2m | TWD 8.9m | −TWD 3.8m | TWD 8.4m | −TWD 2.8m | TWD 25.2m | −TWD 7.4m |
| Net income | −TWD 37.9m | −TWD 13.8m | TWD 4.9m | −TWD 10.0m | −TWD 12.6m | −TWD 8.0m | TWD 18.8m | −TWD 14.0m |
| Diluted earnings per share | -0.45 | -0.16 | 0.06 | -0.12 | -0.15 | -0.10 | 0.22 | -0.17 |
| Cash from operations | −TWD 3.0m | TWD 63.0m | TWD 29.0m | TWD 86.0m | TWD 57.0m | TWD 62.0m | TWD 119.0m | TWD 20.0m |
| Capital spending | −TWD 4.0m | −TWD 4.0m | −TWD 7.0m | −TWD 4.0m | −TWD 4.0m | −TWD 6.0m | −TWD 7.0m | −TWD 5.0m |
| Free cash flow | −TWD 7.0m | TWD 59.0m | TWD 22.0m | TWD 82.0m | TWD 53.0m | TWD 56.0m | TWD 112.0m | TWD 15.0m |
| Total assets | TWD 3.59bn | TWD 3.62bn | TWD 3.64bn | TWD 3.57bn | TWD 3.47bn | TWD 3.71bn | TWD 3.66bn | TWD 3.78bn |
| Debt | TWD 415.5m | TWD 427.9m | TWD 459.5m | TWD 499.1m | TWD 507.3m | TWD 542.3m | TWD 578.4m | TWD 657.4m |
| Shareholders' equity | TWD 2.27bn | TWD 2.27bn | TWD 2.24bn | TWD 2.11bn | TWD 2.07bn | TWD 2.30bn | TWD 2.28bn | TWD 2.27bn |
Financial ratios
Data as of 1 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 15.0% | 14.6% | 18.2% | 18.6% | 22.0% | 26.5% | — |
| Operating margin | 0.6% | 2.2% | 6.4% | 4.8% | 8.7% | 12.3% | — |
| Net margin | -1.6% | 0.0% | 3.9% | 7.4% | 7.2% | 10.3% | — |
| Return on equity | -1.1% | 0.0% | 3.4% | 7.8% | 8.5% | 11.1% | — |
| Return on assets | -0.7% | 0.0% | 2.0% | 4.1% | 3.9% | 5.9% | — |
| Free cash flow yield | — | 25.5% | 59.9% | 59.6% | 65.1% | 56.2% | 80.6% |
| Revenue growth | -7.7% | -12.1% | -19.8% | -4.1% | 12.0% | -20.2% | — |
| Earnings growth | -3223.0% | -98.9% | -57.6% | -0.7% | -22.2% | -0.5% | — |
| Current ratio | 1.67x | 1.77x | 1.67x | 1.60x | 1.42x | 1.35x | — |
| Debt to equity | 0.21x | 0.25x | 0.32x | 0.38x | 0.35x | 0.28x | — |
| Equity ratio | 61.5% | 62.2% | 57.8% | 52.6% | 46.5% | 53.0% | — |
| Interest coverage | 0.39x | 1.57x | 4.07x | 4.49x | 14.19x | 16.30x | — |
| R&D as a share of sales | 4.7% | 4.4% | 4.8% | 4.9% | 4.6% | 6.1% | — |
| Buybacks as a share of market value | — | 0.0% | -10.0% | 0.0% | 0.0% | 0.0% | -0.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -13.4% | -6.9% | -3.4% |
| Operating income | -69.4% | -58.7% | -37.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 14.8% | 16.9% | 19.7% | 22.6% |
| Operating margin | 0.2% | 3.2% | 6.0% | 10.2% |
| Net margin | -0.8% | 3.0% | 5.2% | 8.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -54.7 | — | 34.0 | 13.6 | 16.3 | 15.4 | 14.5 | 12.2 | 16.7 | 14.7 |
| Price to sales | 0.9 | 1.2 | 1.3 | 1.0 | 1.2 | 1.6 | 1.2 | 1.2 | 2.3 | 1.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 18 Apr 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Paid in the year | 0.20 | 0.60 | 1.30 | 0.455 |
- 1100-for-1000 split · 11 Aug 2022
- 1050-for-1000 split · 17 Jul 2014
- 1.04-for-1 split · 25 Jul 2013
- 1.05-for-1 split · 30 Jul 2012
- 1.03-for-1 split · 9 Aug 2011
- 1020-for-1000 split · 2 Aug 2010
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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