Ushine Photonics Corporation

3678 · TWO · Basic Materials / Chemicals

48.00TWD+3.70 (+8.35%)

Price History

Full chart

Market Stats

Previous Close44.30

Open46.00

Day Range45.70 – 48.40

52-Week Range34.51 – 79.61

Volume23.82K

Market Cap1.29B

P/E (TTM)12.50

Forward P/E0.00

EPS3.92

Dividend Yield2.87%

Beta-0.39

50-Day Avg50.10

200-Day Avg49.81

About

Ushine Photonics Corporation engages in the production and supply of indium tin oxide (ITO) film products in Taiwan, China, and internationally. It offers resistive transparent conductive film, projected capacitive transparent conductive film, low-impedance transparent conductive film, iSDMS smart energy management system, and communication and control system products, such as LoRaWAN gateway module, Industrial-grade LoRaWAN gateway, and LoRaWAN data transmitter. The company was founded in 2001 and is based in Hsinchu City, Taiwan.

Company Details

SectorBasic Materials
IndustryChemicals
CEOJunguang Lai
Employees67
HeadquartersNo. 199, Huanbei Road, Hsinchu City, Taiwan, 302, Taiwan
Websitehttps://www.ushine.com.tw

Leadership

Junguang LaiChairman & GM
Su Hui LinAccounting Supervisor

Financials

Income Statement

Currency: TWD	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31
Total Revenue	178.13M	175.37M	157.08M	199.22M	197.41M	306.46M	493.17M	220.49M	352.50M	451.92M
Growth (%)	-	-1.55%	-10.43%	+26.83%	-0.91%	+55.25%	+60.92%	-55.29%	+59.88%	+28.20%
Cost of Revenue	127.53M	133.55M	129.88M	159.98M	153.44M	213.81M	259.54M	153.31M	240.10M	279.67M
Gross Profit	50.60M	41.82M	27.21M	39.24M	43.96M	92.66M	233.63M	67.17M	112.41M	172.25M
Gross Margin	28.40%	23.85%	17.32%	19.70%	22.27%	30.23%	47.37%	30.47%	31.89%	38.12%
Operating Expense	49.70M	36.11M	40.08M	35.98M	36.99M	46.51M	57.04M	58.95M	53.06M	64.65M
Operating Income	893.00K	5.71M	-12.87M	3.26M	6.97M	46.14M	176.59M	8.22M	59.34M	107.60M
Operating Margin	0.50%	3.26%	-8.19%	1.64%	3.53%	15.06%	35.81%	3.73%	16.84%	23.81%
EBITDA	33.55M	36.47M	20.79M	32.28M	33.75M	77.23M	214.69M	82.15M	131.66M	139.77M
EBITDA Margin	18.84%	20.80%	13.23%	16.20%	17.10%	25.20%	43.53%	37.26%	37.35%	30.93%
Net Income	91.00K	83.00K	-14.20M	141.00K	417.00K	39.14M	181.80M	24.08M	66.26M	73.40M
Net Income Margin	0.05%	0.05%	-9.04%	0.07%	0.21%	12.77%	36.86%	10.92%	18.80%	16.24%
R&D	24.86M	15.97M	19.63M	16.65M	20.03M	18.87M	17.25M	28.81M	16.54M	20.83M
R&D as % of Total Revenue	13.96%	9.11%	12.49%	8.36%	10.15%	6.16%	3.50%	13.07%	4.69%	4.61%
Interest Expense	5.56M	5.25M	5.79M	4.57M	4.33M	4.06M	4.89M	5.98M	6.43M	5.87M
Interest Expense % of Total Revenue	3.12%	2.99%	3.69%	2.29%	2.20%	1.32%	0.99%	2.71%	1.83%	1.30%

Balance Sheet

Currency: TWD	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31
Total Assets	431.86M	458.34M	403.08M	461.65M	458.31M	568.85M	881.04M	793.02M	888.65M	897.42M
Total Liabilities	268.31M	257.52M	216.03M	274.46M	270.70M	295.30M	338.59M	289.70M	323.63M	290.47M
Total Equity	163.54M	200.81M	187.04M	187.19M	187.60M	273.55M	542.45M	503.32M	565.01M	606.95M
Cash	13.82M	33.39M	16.88M	76.14M	79.01M	139.15M	352.62M	329.13M	350.51M	314.04M
Total Debt	254.86M	229.71M	201.41M	251.87M	263.90M	244.04M	236.92M	253.30M	255.78M	-
Net Debt	241.03M	196.31M	184.53M	190.01M	184.89M	104.90M	-115.70M	-75.82M	-77.52M	-

Cash Flow

Currency: TWD	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31
Operating Cash Flow	3.10M	-1.92M	41.58M	3.31M	23.91M	88.88M	216.01M	64.44M	107.28M	111.65M
Investing Cash Flow	-2.31M	-8.41M	-18.95M	264.00K	-17.16M	-71.60M	-82.73M	-25.28M	-92.53M	-
Financing Cash Flow	-5.21M	29.98M	-38.68M	55.99M	-3.87M	42.86M	78.90M	-58.21M	2.98M	-
Capital Expenditure	1.40M	3.31M	18.95M	9.99M	6.28M	71.60M	95.47M	23.15M	92.12M	67.26M
Free Cash Flow	1.70M	-5.23M	22.64M	-6.68M	16.00M	17.28M	120.54M	41.28M	15.17M	44.39M
Dividends Paid	-	-	-	-	-	-	14.04M	64.75M	25.90M	31.71M
FCF to OCF	54.88%	272.81%	54.44%	-202.15%	66.94%	19.44%	55.80%	64.07%	14.14%	39.76%
Dividend Paid to FCF	-	-	-	-	-	-	11.65%	156.84%	170.75%	71.43%

Key Statistics & Ratios

Market Cap1.29B

Enterprise Value1.19B

Trailing P/E12.50

Forward P/E0.00

Price / Sales2.67

Price / Book2.07

EPS3.92

Book Value23.66

Revenue (TTM)485.05M

Gross Profit (TTM)174.59M

EBITDA137.24M

Profit Margin21.69%

Operating Margin20.37%

Return on Equity17.86%

Return on Assets6.43%

Shares Outstanding26.42M

Shares Float14.01M

Beta-0.39

Dividend Yield2.87%

Dividend Rate1.40

Payout Ratio30.66%

Dividends

20261×

1.40Jul 20, 2026

20251×

1.20Jul 30, 2025

20241×

1.00Jul 30, 2024

20231×

2.50Jul 26, 2023

20221×

0.56Jun 29, 2022

Stock Splits

Feb 18, 2021668.5227:1000