1. Taiwan, Province of China Stocks

  2. •

    Industrials

  3. •

    Engineering & Construction
Hwang Chang General Contractor Co., Ltd

Hwang Chang General Contractor Co., Ltd

2543.TW
Hwang Chang General Contractor Co., LtdTW flagTaiwan Stock Exchange
39.45
TWD
+0.25
- -
20.85BMarket Cap
Hwang Chang General Contractor Co., Ltd
2543.TW
(Taiwan Stock Exchange)

Recent

price

39.45

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
18.05
16.17
13.19
12.74
15.57
14.33
12.31
10.7
11.9
15
17.1
21.36
22.55
27.8
27.66
- -
25.01
Revenue per Share
-0.85
0.27
0.1
0.93
0.83
0.31
0.3
0.03
-1.37
0.06
0.1
0.99
0.65
1.26
4.49
- -
2.99
Basic EPS, GAAP
-1.02
1.23
5.56
-3.04
-3.21
-0.96
1.6
0.24
-1.68
-1.04
-2.56
1.2
0.37
4.86
-5.75
- -
-4.4
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
0.19
0.19
- -
- -
- -
- -
- -
0.18
0.43
- -
0.56
Dividend per Share
4.53
4.4
4.5
5.9
6.84
6.63
6.76
6.61
5.17
5.23
5.31
6.14
6.79
7.29
11.63
- -
13.57
Book Value per Share
5.79
5.67
5.73
6.61
7.44
7.19
7.22
7.08
5.62
5.67
5.79
6.83
7.55
8.21
16.04
- -
21.8
Tangible Book Value per Share
282
282
282
282
352
382
377
375
375
375
375
375
375
406
449
- -
473
Basic Weighted Avg Shares
5,096
4,565
3,723
3,598
5,475
5,469
4,644
4,010
4,457
5,621
6,406
8,003
8,448
11,275
12,431
11,839
11,839
Sales/Revenue/Turnover
-4.31
3.41
-4.4
1.44
5.3
1.29
0.49
0.62
-11.56
0.68
0.24
-1.29
2.01
6.59
20.79
14.65
14.65
Operating Margin (%)
187
267
156
112
96
83
71
62
63
118
203
255
277
366
592
799
799
Depreciation Expense
-241
75
27
264
291
118
113
10
-513
23
36
370
242
510
2,018
1,415
1,415
Net Income, GAAP
- -
14.27
0.64
2.56
12.54
19.74
5.74
66.87
- -
- -
- -
3.32
5.28
16.7
21
19.97
19.97
Effective Tax Rate (%)
-4.73
1.65
0.73
7.33
5.31
2.16
2.44
0.26
-11.51
0.41
0.56
4.62
2.87
4.52
16.23
11.95
11.95
Profit Margin (%)
724
960
1,137
1,379
2,006
2,119
2,119
2,042
1,372
1,102
739
410
-361
-1,408
810
1,519
1,519
Working Capital
138
133
162
137
87
47
64
28
5
628
643
662
619
608
1,362
1,762
1,762
LT Debt
1,636
1,607
1,622
1,867
2,620
2,749
2,726
2,655
2,109
2,126
2,172
2,564
2,830
3,330
7,214
10,327
10,327
Total Equity
- -
4.45
-5.23
1.62
7.36
1.54
0.61
0.24
- -
1.01
0.33
-1.85
2.79
10.75
25.13
10.85
10.85
Return on Invested Capital (%)
- -
3.74
3.22
11.43
9.25
3.31
3.85
0.65
- -
1.57
1.55
7.54
5.05
8.87
29.39
14.48
14.48
Return on Capital (%)
-17.2
5.96
2.17
17.96
14.29
4.78
4.46
0.41
-23.26
1.18
1.81
17.23
10
18.55
49.31
24.28
24.28
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
ST Debt
2,205
1,850
2,538
LT Borrowings
1,113
1,146
1,369
LT Finance Leases
383
385
394
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
530
530
530
Market Capitalization
31,745
35,032
28,451

Working Capital

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
Total Current Assets
9,578
9,745
9,788
Cash, Cash Equivalents & STI
4,163
3,288
3,544
Accounts Receivable, Net
1,753
2,348
1,763
Inventories
10
9
9
Total Current Liabilities
7,631
7,811
8,269
Payables & Accruals
- -
- -
- -
ST Debt
2,205
1,850
2,538
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
18.49%
41.18%
43.16%
Free Cash Flow
-17.35%
172.38%
-19.37%
Net Income, GAAP
-392.98%
255.45%
-29.88%
Sales/Revenue/Turnover
9.19%
13.89%
-4.77%
Total Cash Common Dividend
- -
- -
107.33%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
2,097
2,696
3,059
3,424
11,275
2024
2,339
3,952
2,935
3,206
12,431
2025
2,392
2,610
3,184
3,652
11,839

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
0.05
0.22
0.41
- -
1.26
2024
0.23
2.21
0.65
- -
4.49
2025
0.69
0.74
0.71
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.18
2024
- -
- -
0.19
- -
0.43
2025
- -
- -
- -
- -
- -
Similar Companies
Bauer AG (B5A.DE)
Tanabe Engineering Corporation (1828.T)
PT Adhi Karya (Persero) Tbk (ADHI.JK)
CEL Corporation (5078.T)
Sichuan Road & Bridge Co.,Ltd (600039.SS)
KCL Infra Projects Limited (KCLINFRA.BO)
Business
Hwang Chang General Contractor Co., Ltd. (2543.TW) engages primarily in civil engineering and construction projects in Taiwan. The company undertakes a broad range of infrastructure developments, including subways, expressways, bridges, roads, residential buildings, wastewater treatment facilities, pump stations, river management projects, baseball stadiums, and highways; it also manufactures and sells ready-mixed concrete and provides earth retaining support and earthwork services through its Construction Engineering and Concrete segments. Hwang Chang operates predominantly in the domestic Taiwan market, with approximately 1,001 employees, and focuses on government and public sector contracts such as the Taipei Metro projects, Keelung River flood diversion, and Kaohsiung MRT initiatives. Founded in 1981 and listed on the Taiwan Stock Exchange in 1999, the company maintains its headquarters at 23F, No. 539, Tanmei Street, Neihu District, Taipei City, Taiwan. In recent developments, Hwang Chang purchased land sites in Taipei City for T$903.8 million in October 2025 to support expansion; it reported earnings for the second quarter and six months ended June 30, 2025 in August 2025; and commenced construction on the Shibi Tan Social Housing Zone 1 turnkey project in inner Taipei in 2025, hosted by Taipei City officials. The firm holds Top A Grade status for civil and hydraulic engineering, continues to secure maritime and heavy construction projects, and emphasizes quality, safety, and efficiency under leadership including Chairman Cheng Chin Chiang and CEO Chung Lei Huang.