Hocheng Corporation

Hocheng Corporation

TTWSE:1810
22.45
TWD
-0.50
(-2.18%)
3.46EPS
6.12P/E
6.44BMarket Cap
Nov 05Next Earn
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
19.94
19.82
19.79
19.62
18.91
18.11
18.31
16.9
14.43
14.56
16.11
16.09
15.1
13.75
Basic EPS, GAAP
0.59
0.6
0.42
0.98
0.56
-0.22
0.16
0.29
3.33
0.46
0.06
0.19
0.05
3.49
Free Cash Flow per Basic Share
0.58
-0.03
-0.36
-1.68
0.52
-0.24
0.2
1.81
0.32
-0.42
3.81
0.35
1.16
0.47
Dividend per Share
- -
0.4
0.37
0.25
- -
0.37
0.25
- -
0.2
0.21
0.2
0.2
0.19
- -
Book Value per Share
18.17
19.07
18.24
18.5
18.94
18.09
18.67
19.51
24.03
21.36
22.09
22.66
22.75
28.28
Tangible Book Value per Share
18.05
18.95
18.1
18.35
18.76
17.92
18.5
19.36
24.03
21.36
22.09
22.66
22.75
28.28
Basic Weighted Avg Shares
302
302
302
302
302
302
302
302
368
344
302
302
302
317
Sales/Revenue/Turnover
6,019
5,984
5,973
5,921
5,709
5,466
5,526
5,102
5,313
5,004
4,871
4,857
4,557
4,362
Operating Margin (%)
2.61
2.38
2.74
-0.98
2.56
0.1
1.74
-0.05
1.25
2.39
-0.12
0.08
-0.85
-5.9
Depreciation Expense
279
210
219
232
226
214
260
254
232
231
237
220
210
205
Net Income, GAAP
179
182
127
297
168
-66
48
87
1,225
157
19
58
14
1,106
Effective Tax Rate (%)
19.43
23.73
36.09
18.13
35.19
- -
59.93
38.55
11.79
36.81
66.64
36.07
68.01
12.13
Profit Margin (%)
2.98
3.03
2.13
5.01
2.94
-1.2
0.87
1.7
23.05
3.14
0.4
1.2
0.31
25.36
Working Capital
1,203
1,110
1,226
707
1,684
1,234
891
1,185
2,443
1,768
1,326
1,800
1,549
3,173
LT Debt
1,029
758
975
399
1,171
1,049
973
789
661
559
124
458
373
335
Total Equity
5,618
5,898
5,640
5,714
5,837
5,542
5,707
5,952
7,359
6,509
6,727
6,902
6,943
8,594
Return on Invested Capital (%)
1.37
1.14
1.11
-0.5
0.98
- -
0.35
- -
0.63
0.71
-0.03
0.02
-0.2
-2.69
Return on Capital (%)
2.74
2.5
1.94
3.84
2.33
- -
1.01
1.58
8.09
2.07
0.42
0.95
0.25
13.34
Return on Common Equity (%)
3.31
3.21
2.25
5.32
2.96
-1.17
0.86
1.51
18.64
2.3
0.29
0.86
0.21
14.6

Capital Structure

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
403
400
401
LT Borrowings
343
342
315
LT Finance Leases
30
24
19
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
302
302
302
Market Capitalization
5,298
5,101
6,445

Working Capital

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
4,216
4,420
4,641
Cash, Cash Equivalents & STI
1,379
1,478
1,789
Accounts Receivable, Net
586
562
646
Inventories
1,700
1,670
1,673
Total Current Liabilities
2,667
1,356
1,467
Payables & Accruals
- -
- -
- -
ST Debt
403
400
401
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
2.43%
3.73%
0.59%
Free Cash Flow
-33.95%
-213.24%
226.33%
Net Income, GAAP
112.12%
252.55%
-75.51%
Sales/Revenue/Turnover
-2.61%
-2.16%
-6.18%
Total Cash Common Dividend
16,126.18%
16,786.89%
-5.14%

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,134
1,263
1,162
1,298
4,857
2025
1,127
1,250
1,058
1,122
4,557
2026
1,035
1,147
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.06
0.09
0.16
0.01
0.19
2025
-0.09
0.1
0.03
0.01
0.05
2026
3.64
-0.02
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.2
2025
- -
- -
- -
- -
0.19
2026
- -
- -
- -
- -
- -

Company Description

CEO
Shih Chieh Chen
Full Time Employees
928
Sector
Producer manufacturing
Industry
Building products
Address
No. 398, Xingshan Road Taipei TP Taiwan 14066
IPO Date
Oct 14, 1991
Business
Hocheng Corporation Hocheng Corporation (1810.TW) manufactures and markets bathroom and kitchen equipment, including sanitary ceramics such as toilets, sinks, urinals, bidets, bathtubs, and attachments; water-supply copper wares comprising faucets, milling tubes, and enamel products; bathroom appliances like electric water heaters, gas water heaters, hand dryers, air purifiers, and automatic toilet covers; and kitchen products including wood and plastic appliances, reservoirs, modular bathrooms, and glass fiber items. The company also produces industrial ceramics encompassing fine ceramics, electronic ceramics, refractory materials, tiles, and kiln products; offers construction services for public housing, commercial buildings, pre-cast concrete, and curtain walls; and engages in import/export trade of related materials, watches, perfumes, and departmental merchandise. Founded in 1931 and headquartered in Taipei, Taiwan, Hocheng Corporation operates manufacturing plants in Taiwan, with subsidiaries and branches in China, the Philippines, Vietnam, and sales networks across Northeast Asia, Southeast Asia, North America, and Europe. Hocheng Corporation maintains diversified segments in consumer cyclical furnishings, fixtures, and appliances, targeting residential, commercial, and industrial customers through wholesale, retail, and direct sales channels. Its geographic footprint spans domestic Taiwan operations via multiple plants and branches, alongside international production bases including Hocheng Philippines Corporation established in 1995 for Southeast Asia and American markets, and facilities in China supporting regional demand. In recent developments, the company established a Brand Management Center in 2024 to integrate resources and rejuvenate the HCG brand for younger consumers, participates in the 2025 Taiwan International Interior Design Expo, and advances ESG initiatives including completion of its Sustainability Report, energy conservation, and carbon reduction aligned with Taiwan's carbon exchange launch. Hocheng Corporation continues R&D in advanced materials like composite ceramics for defense, dental, and new technologies such as LAZULI carbon fiber products, while enhancing production capacities through tunnel kilns and certifications including ISO standards and military product releases.