A 
Associated Industries China 9912.TW · TWD
Information Technology · Taiwan Stock Exchange · 🇹🇼 Taiwan
13.20
+0.76%
Close of 9 Nov 2026, in TWD
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in TWD, from our data supplier.
Revenue
TWD 506.4m
FY2016FY2025
Net income
−TWD 59.7m
FY2016FY2025
Free cash flow
−TWD 38.8m
FY2016FY2025
Shareholders' equity
TWD 387.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 506.4m | TWD 504.5m | TWD 510.6m | TWD 594.4m | TWD 632.3m | TWD 539.0m | TWD 597.6m | TWD 746.6m | TWD 744.3m | TWD 758.0m |
| Gross profit | TWD 210.4m | TWD 197.8m | TWD 198.5m | TWD 189.0m | TWD 215.6m | TWD 182.1m | TWD 199.7m | TWD 241.2m | TWD 214.0m | TWD 204.0m |
| Research and development | TWD 43.2m | TWD 41.7m | TWD 36.9m | TWD 26.2m | TWD 11.7m | TWD 13.3m | TWD 14.2m | TWD 15.9m | TWD 10.1m | TWD 8.3m |
| Operating income | −TWD 60.8m | −TWD 58.6m | −TWD 49.4m | −TWD 35.2m | TWD 16.1m | −TWD 29.9m | −TWD 33.6m | TWD 22.9m | TWD 14.5m | −TWD 6.4m |
| Net income | −TWD 59.7m | −TWD 51.6m | −TWD 29.8m | −TWD 30.9m | TWD 18.2m | −TWD 38.2m | −TWD 112.8m | TWD 12.1m | TWD 8.6m | −TWD 8.3m |
| Diluted earnings per share | -1.11 | -0.97 | -0.59 | -0.61 | 0.36 | -1.03 | -2.19 | 0.23 | 0.14 | -0.15 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | TWD 817.2m | TWD 835.1m | TWD 720.5m | TWD 771.0m | TWD 764.1m | TWD 691.4m | TWD 772.5m | TWD 817.9m | TWD 792.0m | TWD 760.6m |
| Cash and short-term investments | TWD 93.2m | TWD 76.6m | TWD 112.7m | TWD 101.6m | TWD 91.4m | TWD 115.2m | TWD 76.1m | TWD 100.4m | TWD 108.5m | TWD 94.9m |
| Total liabilities | TWD 420.8m | TWD 383.7m | TWD 314.1m | TWD 339.8m | TWD 343.5m | TWD 271.8m | TWD 326.2m | TWD 232.6m | TWD 225.3m | TWD 209.0m |
| Debt | TWD 336.4m | TWD 283.5m | TWD 198.4m | TWD 274.8m | TWD 217.4m | TWD 161.9m | TWD 198.4m | TWD 119.1m | TWD 89.2m | TWD 91.1m |
| Shareholders' equity | TWD 387.6m | TWD 440.9m | TWD 401.7m | TWD 419.4m | TWD 420.6m | TWD 419.6m | TWD 446.3m | TWD 585.3m | TWD 566.7m | TWD 551.7m |
| Shares outstanding | 54m | 53m | 51m | 51m | 51m | 37m | 51m | 54m | 63m | 54m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −TWD 36.0m | −TWD 111.7m | TWD 68.2m | −TWD 33.7m | −TWD 47.3m | TWD 79.2m | −TWD 26.3m | −TWD 2.4m | TWD 14.4m | TWD 96.3m |
| Capital spending | −TWD 2.8m | −TWD 10.1m | −TWD 4.9m | −TWD 9.0m | −TWD 706,000 | −TWD 151,000 | −TWD 1.2m | −TWD 4.0m | −TWD 2.6m | −TWD 5.3m |
| Free cash flow | −TWD 38.8m | −TWD 121.7m | TWD 63.3m | −TWD 42.6m | −TWD 48.0m | TWD 79.1m | −TWD 27.5m | −TWD 6.4m | TWD 11.8m | TWD 91.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 122.8m | TWD 113.1m | TWD 143.8m | TWD 120.4m | TWD 126.2m | TWD 116.0m | TWD 122.0m | TWD 132.9m |
| Gross profit | TWD 54.2m | TWD 50.1m | TWD 62.3m | TWD 43.6m | TWD 51.7m | TWD 48.0m | TWD 44.8m | TWD 51.4m |
| Operating income | −TWD 13.1m | −TWD 11.6m | TWD 3.4m | −TWD 14.3m | −TWD 20.3m | −TWD 27.9m | −TWD 21.8m | −TWD 10.3m |
| Net income | −TWD 12.9m | −TWD 10.2m | TWD 1.5m | −TWD 14.3m | −TWD 20.0m | −TWD 26.8m | −TWD 16.8m | −TWD 9.9m |
| Diluted earnings per share | -0.24 | -0.19 | 0.03 | -0.27 | -0.37 | -0.50 | -0.31 | -0.19 |
| Cash from operations | −TWD 30.0m | TWD 26.0m | TWD 33.0m | −TWD 44.0m | TWD 4.0m | −TWD 32.0m | −TWD 8.0m | −TWD 26.0m |
| Capital spending | — | — | −TWD 1.0m | — | — | — | −TWD 3.0m | −TWD 4.0m |
| Free cash flow | — | — | TWD 32.0m | — | — | — | −TWD 11.0m | −TWD 30.0m |
| Total assets | TWD 808.9m | TWD 816.6m | TWD 817.2m | TWD 810.6m | TWD 864.2m | TWD 840.2m | TWD 835.1m | TWD 881.2m |
| Cash and short-term investments | TWD 98.3m | TWD 117.5m | TWD 93.2m | TWD 75.0m | TWD 101.6m | TWD 87.8m | TWD 76.6m | TWD 94.4m |
| Debt | TWD 339.5m | TWD 323.0m | TWD 328.6m | TWD 336.9m | TWD 329.0m | TWD 300.7m | TWD 266.9m | TWD 264.7m |
| Shareholders' equity | TWD 352.7m | TWD 369.2m | TWD 387.6m | TWD 377.4m | TWD 381.3m | TWD 424.2m | TWD 440.9m | TWD 463.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -5.2% | -1.2% | -2.9% |
| Operating income | 20.0% | 15.3% | 0.3% |
| Net income | 24.5% | 9.3% | 0.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 40.4% | 37.6% | 36.3% | 32.3% |
| Operating margin | -11.8% | -9.6% | -6.6% | -4.1% |
| Net margin | -11.0% | -8.1% | -5.8% | -5.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -11.2 | -12.4 | -18.4 | -15.0 | 28.7 | -8.2 | -3.9 | 39.9 | 58.7 | -50.7 |
| Price to sales | 1.3 | 1.3 | 1.1 | 0.8 | 0.8 | 0.6 | 0.7 | 0.7 | 0.7 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 2 Sept 2015.
| FY2015 | FY2014 | FY2013 | |
|---|---|---|---|
| Paid in the year | 1.00 | 0.952 | 4.082 |
- 21-for-20 split · 27 Aug 2014
- 21-for-20 split · 28 Aug 2013
- 100-to-52.135 reverse split · 17 Oct 2006
- 100-to-58.47 reverse split · 21 Apr 2005
- 27-for-25 split · 31 Jul 1999
- 1.03-for-1 split · 13 Jul 1995
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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