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    Commercial services

  3. •

    Commercial printing/Forms
Bai Sha Technology Co., Ltd.

Bai Sha Technology Co., Ltd.

TTPEX:8401
22.70
TWD
-0.10
(-0.44%)
2.63EPS
8.70P/E
1.62BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
23.38
23.18
19.62
19.72
20.22
19.78
17.86
17.44
19.04
21.74
23.11
22.04
21.85
22.43
Basic EPS, GAAP
-0.99
1.67
0.66
0.17
1.3
0.82
0.39
0.64
1.67
1.88
1.69
2.42
2.63
2.64
Free Cash Flow per Basic Share
-0.66
-0.83
1.68
1.02
0.46
0.15
2.48
1.71
1.85
2.75
2.7
2.68
0.39
-5.09
Dividend per Share
0.19
- -
0.98
0.51
0.34
1.09
0.72
0.44
0.57
1.47
1.87
0.68
1.4
- -
Book Value per Share
11.06
13.11
12.6
12.17
13.37
12.74
12.41
12.73
13.89
14.35
14.17
15.95
17.17
17.05
Tangible Book Value per Share
10.97
13.04
12.56
12.12
13.33
12.72
12.4
12.7
13.85
14.32
14.14
15.91
17.09
16.97
Basic Weighted Avg Shares
57
61
70
71
71
74
74
72
71
71
64
71
71
70
Sales/Revenue/Turnover
1,340
1,420
1,367
1,395
1,432
1,456
1,318
1,253
1,346
1,536
1,484
1,557
1,544
1,581
Operating Margin (%)
4.22
6.94
5.17
4.38
6.74
4.83
3.09
5.05
7.99
9.97
9.64
13.68
12.98
13.47
Depreciation Expense
112
99
112
111
109
115
129
119
111
103
101
104
109
114
Net Income, GAAP
-57
103
46
12
92
60
29
46
118
133
109
171
186
186
Effective Tax Rate (%)
- -
7.38
32.61
57.11
11.87
22.49
28.65
21.03
- -
20.11
19.28
20.53
20.14
20.12
Profit Margin (%)
-4.23
7.23
3.37
0.88
6.45
4.15
2.21
3.68
8.76
8.66
7.33
10.96
12.03
11.76
Working Capital
336
260
332
345
358
378
346
386
434
473
452
543
499
487
LT Debt
488
277
269
251
242
251
243
239
160
130
75
80
119
503
Total Equity
640
868
891
861
953
941
917
900
981
1,014
1,001
1,127
1,213
1,205
Return on Invested Capital (%)
- -
7.07
3.52
2.02
6.74
4.26
2.32
3.92
- -
10.06
9.48
14.09
11.91
11.22
Return on Capital (%)
- -
8.89
3.93
1.19
7.74
5.05
2.61
4.01
- -
11.12
9.5
14.5
14.29
12.83
Return on Common Equity (%)
-8.66
13.63
5.24
1.39
10.19
6.38
3.13
5.07
12.54
13.34
10.8
16.05
15.87
16.11

Capital Structure

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
49
55
54
LT Borrowings
89
477
469
LT Finance Leases
31
34
34
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
71
71
71
Market Capitalization
2,039
1,753
1,622

Working Capital

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
832
884
784
Cash, Cash Equivalents & STI
441
534
411
Accounts Receivable, Net
238
216
233
Inventories
50
53
52
Total Current Liabilities
333
365
296
Payables & Accruals
- -
- -
- -
ST Debt
49
55
54
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.3%
6.27%
7.67%
Free Cash Flow
134.68%
-6.48%
-85.45%
Net Income, GAAP
77.14%
43.23%
8.73%
Sales/Revenue/Turnover
1.42%
4.44%
-0.87%
Total Cash Common Dividend
32.72%
49.81%
106.25%

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
365
377
381
434
1,557
2025
350
383
396
415
1,544
2026
367
403
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.49
0.53
0.59
0.81
2.42
2025
0.42
0.66
0.63
0.92
2.63
2026
0.46
0.63
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.68
2025
- -
- -
- -
- -
1.4
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Chun Chieh Chen
Full Time Employees
502
Sector
Commercial services
Industry
Commercial printing/Forms
Address
No. 116, Xiangshun Road Taichung TX Taiwan 411042
IPO Date
Jul 17, 2008
Website
bsbs.com.tw
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Business
Bai Sha Technology Co., Ltd. engages primarily in the printing business, offering commercial printing, cultural printing, and packaging printing services in Taiwan, East China, and other international regions. Founded in 1989 and headquartered at No. 116, Section 1, Xiangshun Road, Taiping District, Taichung City, Taiwan, the company manufactures and sells an extensive range of products including packaging color boxes, PP transparent boxes, and bags; books such as hardcover, paperback, saddle stitch, glue-bound, and loose leaf editions; business cards, envelopes, letter paper, official document covers, folders, triangular desk calendars, and VIP cards; color and modeling stickers with automatic labeling capabilities; invitation cards, catalogs, posters, large image output, display stands, and paper fans; as well as cartons, labels, calendars, graduation commemorative albums, and wedding cards. It also provides specialized services encompassing cold foil printing, surface finishing, prepress proofing, and 3D embossing. The company, which employs approximately 496 to 511 staff and lists on the Taipei Exchange under ticker 8401, previously operated as Bai Sha Paper Products Printing Co., Ltd. before changing its name in 2007 and going public that year, with official OTC listing in March 2010; it continues to focus on domestic and select export markets without reported major acquisitions, partnerships, funding rounds, new product launches, or strategic shifts in the last one to two years.