Hsinjing Holding Co., Ltd.

Hsinjing Holding Co., Ltd.

TTPEX:3713
14.15
TWD
-0.30
(-2.08%)
-0.90EPS
1.30BMarket Cap
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
22.8
7.11
5.97
3.56
2.14
8.56
16.16
9.63
4.47
3.99
4.49
Basic EPS, GAAP
-5.3
-2.06
-1.15
-0.76
0.06
0.43
0.87
-0.27
-0.53
-1.13
-0.92
Free Cash Flow per Basic Share
-6.44
-5.3
-3.65
-0.8
-0.19
-2.03
-6.19
-4.59
-4.1
-2.36
-0.18
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
0.09
4.6
6.94
6.13
6.26
7.75
8.64
8.38
7.85
8.03
7.84
Tangible Book Value per Share
0.09
4.6
6.94
6.13
6.26
7.75
8.55
8.31
7.78
7.97
7.78
Basic Weighted Avg Shares
13
48
64
79
79
79
79
79
79
81
92
Sales/Revenue/Turnover
302
340
382
281
169
676
1,276
760
353
324
412
Operating Margin (%)
-22.96
-20.77
-17.34
0.12
-3.36
7.94
9.03
-0.18
-2.86
-7.71
3.85
Depreciation Expense
2
5
18
19
21
23
33
44
54
117
145
Net Income, GAAP
-70
-98
-73
-60
5
34
69
-21
-42
-92
-85
Effective Tax Rate (%)
- -
- -
- -
- -
17.89
- -
3.34
- -
- -
- -
- -
Profit Margin (%)
-23.24
-28.96
-19.22
-21.36
3.03
4.97
5.38
-2.79
-11.79
-28.29
-20.55
Working Capital
-73
189
274
113
133
453
426
-261
-725
-312
-88
LT Debt
- -
8
- -
14
28
508
717
908
942
1,281
1,535
Total Equity
7
363
548
489
500
621
692
668
624
715
700
Return on Invested Capital (%)
- -
- -
- -
- -
0.48
5.82
6.69
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
- -
1.26
4.39
4.62
- -
- -
- -
- -
Return on Common Equity (%)
- -
-53.14
-16.13
-11.56
1.04
6.07
10.62
-3.15
-6.5
-13.82
-13.17

Capital Structure

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
612
379
305
LT Borrowings
1,104
1,280
1,359
LT Finance Leases
178
177
175
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
88
88
88
Market Capitalization
2,017
1,352
1,299

Working Capital

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
463
373
466
Cash, Cash Equivalents & STI
97
113
161
Accounts Receivable, Net
58
32
83
Inventories
50
50
64
Total Current Liabilities
775
557
554
Payables & Accruals
- -
- -
- -
ST Debt
612
379
305
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
8.06%
14.57%
Free Cash Flow
- -
218.08%
-40.6%
Net Income, GAAP
- -
149.33%
120.38%
Sales/Revenue/Turnover
- -
57.28%
-8.18%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
96
76
86
96
353
2025
77
73
70
104
324
2026
78
160
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.1
-0.14
-0.2
-0.09
-0.53
2025
0.13
-0.44
-0.24
-0.55
-1.13
2026
-0.22
0.02
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

CEO
San Te Tzu
Full Time Employees
67
Sector
Electronic technology
Industry
Semiconductors
Address
No. 193, Fuxing 2nd Road Zhubei TP Taiwan 302052
IPO Date
Feb 27, 2020
Business
Hsinjing Holding Co., Ltd. engages primarily in the manufacturing and sale of solar cell modules, including monocrystalline solar cell modules and customized variants. The company designs, plans, and installs solar photovoltaic power systems and solar power plants, providing comprehensive EPC (engineering, procurement, and construction) services for solar power generation. Its product offerings extend to solar battery modules and related solar energy equipment used in general electricity supply, street lighting, traffic signals, building exteriors, disaster relief equipment, and other power generation applications. Hsinjing also invests in and operates solar power plants, holding a portfolio of approximately 50MW across a total of 205 power plants, generating revenue from electricity sales. The company's services include end-to-end solar plant development from design to installation and maintenance primarily across Taiwan, with expanding business interests in Southeast Asia. Founded in 1995 and headquartered in Zhubei, Taiwan, Hsinjing Holding operates in the renewable energy and electrical machinery sectors, targeting clients in residential, commercial, and public infrastructure markets. Recent major developments include a steady increase in its self-owned solar power station capacity to 13.15MW connected to the grid as of 2022, reflecting its strategy to generate stable cash flows from renewable assets. The company has intensified its commitment to the EPC segment, completing 25.32MW of business capacity in 2022, and it continues expanding its solar photovoltaic systems installation and investment activities. In the last 1-2 years, Hsinjing has made operational enhancements and business expansions aligned with high-quality development goals, sustaining growth through scientific innovation and market expansion. It actively pursues new project wins and deepens reforms to improve management efficiency and resource coordination. Hsinjing has a diversified geographical footprint with product sales and engineering services extended beyond Taiwan, including Asia, America, and Europe. Its comprehensive solar business model incorporates module manufacturing, system integration, power plant investments, and electricity sales, underscoring its role as a key player in Taiwan's renewable energy industry. The company’s latest efforts also include optimizing processes and upgrading information management systems to support expanded operations and enhance financial and operational efficiencies within its subsidiaries and business units. This ongoing commitment positions Hsinjing Holding as a vertically integrated solar energy company with a growing emphasis on clean energy investment and technology deployment in the region.