1. Taiwan Stocks

  2. •

    Process industries

  3. •

    Containers/Packaging
Cheng Loong Corp.

Cheng Loong Corp.

TTWSE:1904
24.60
TWD
+0.15
(+0.61%)
2.23EPS
9.92P/E
23.72BMarket Cap
Nov 11Next 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
40.77
41.8
39.15
36.17
35.72
37.16
36.44
36.16
40.59
39.63
38.05
40.76
38.79
39.55
Basic EPS, GAAP
1.12
0.7
1.06
1.17
1.29
3.38
2.08
3.36
3.58
2.27
0.83
0.55
0.74
2.16
Free Cash Flow per Basic Share
1.35
0.96
-0.02
0.51
-3.67
0.38
4.74
3.09
-2.88
-1.98
-0.28
-0.23
-0.94
0.18
Dividend per Share
0.6
0.6
0.35
0.6
0.5
0.7
1.1
1.2
1.8
1.9
1.1
0.5
0.45
- -
Book Value per Share
17.32
17.45
17.79
17.68
17.99
20.27
21.41
22.92
24.59
25.57
26.04
26.65
26.44
27.62
Tangible Book Value per Share
17.32
17.45
17.79
17.68
17.99
20.27
21.41
22.92
24.59
25.57
26.04
26.65
26.44
27.62
Basic Weighted Avg Shares
1,073
1,073
1,108
1,108
1,108
1,108
1,108
1,108
1,108
1,108
1,108
1,108
1,108
1,113
Sales/Revenue/Turnover
43,763
44,870
43,390
40,086
39,586
41,182
40,388
40,074
44,986
43,922
42,165
45,178
42,985
44,040
Operating Margin (%)
3.78
2.91
4.1
4.77
5.37
6.97
8.65
12.52
10.24
3.78
4.85
3.45
4.43
6.17
Depreciation Expense
2,060
2,165
2,318
2,361
2,284
2,049
2,540
2,689
2,776
2,960
3,565
4,009
3,877
3,813
Net Income, GAAP
1,202
752
1,171
1,297
1,435
3,742
2,304
3,728
3,963
2,520
922
605
823
2,401
Effective Tax Rate (%)
22.64
58.55
35.48
29.06
23.03
18.5
21.39
21.55
19.57
15.25
30.41
32.59
28.24
20.55
Profit Margin (%)
2.75
1.68
2.7
3.23
3.63
9.09
5.7
9.3
8.81
5.74
2.19
1.34
1.91
5.45
Working Capital
1,217
670
4,322
6,230
3,459
7,516
9,290
7,654
7,970
8,741
6,349
7,220
4,409
4,716
LT Debt
8,761
9,209
13,644
14,395
14,777
15,130
15,466
14,666
17,408
22,342
21,813
22,697
21,628
21,244
Total Equity
23,181
22,858
23,100
22,528
22,299
24,169
25,559
26,787
28,400
29,298
29,701
30,470
30,034
31,459
Return on Invested Capital (%)
2.89
1.22
2.55
2.98
3.47
4.83
5.86
8.37
7.33
2.55
2.39
1.73
2.21
3.53
Return on Capital (%)
3.91
3.33
4.05
3.83
3.73
7.75
5.79
8.65
8.28
4.95
2.69
2.06
2.39
4.93
Return on Common Equity (%)
6.66
4.03
6.09
6.6
7.26
17.65
9.98
15.18
15.05
9.07
3.22
2.07
2.8
8.22

Capital Structure

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
9,182
15,158
11,089
LT Borrowings
20,965
15,581
20,542
LT Finance Leases
663
665
702
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,108
1,108
1,108
Market Capitalization
19,173
21,501
23,717

Working Capital

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
23,056
23,385
26,950
Cash, Cash Equivalents & STI
5,964
6,316
8,653
Accounts Receivable, Net
6,850
6,593
6,973
Inventories
7,951
8,403
8,792
Total Current Liabilities
18,647
24,639
22,233
Payables & Accruals
- -
- -
- -
ST Debt
9,182
15,158
11,089
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
2.72%
2.34%
-1.43%
Free Cash Flow
-235.02%
-5.03%
302.27%
Net Income, GAAP
11.36%
-18.38%
36.01%
Sales/Revenue/Turnover
0.06%
1.64%
-4.85%
Total Cash Common Dividend
10.99%
-10.22%
-10%

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
10,099
10,684
12,521
11,874
45,178
2025
10,284
10,767
10,561
11,372
42,985
2026
10,422
11,685
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.25
0.14
0.05
0.11
0.55
2025
0.08
-0.05
0.14
0.57
0.74
2026
0.56
0.89
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.5
2025
- -
- -
- -
- -
0.45
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Ching Piao Chang
Full Time Employees
9,680
Sector
Process industries
Industry
Containers/Packaging
Address
No. 1, Min Sheng Rd. Taipei TP Taiwan 220
IPO Date
Sep 10, 1971
Website
clc.com.tw
Similar Companies
Segezha (MOEX:SGZH)
Amcor plc (NYSE:AMCR)
Duran Dogan Basim ve Ambalaj Sanayi A.S. (BIST:DURDO)
Isiklar Enerji ve Yapi Holding Anonim Sirketi (BIST:IEYHO)
PT Abadi Nusantara Hijau Investama Tbk (IDX:PACK)
UFlex Limited (NSE:UFLEX)
Business
Cheng Loong Corporation engages in the manufacture and sale of paper products and packaging materials primarily in Taiwan, Mainland China, and Southeast Asia. The company’s core product portfolio includes industrial paper products such as linerboards, whiteboards, corrugating medium papers, coated whiteboards, and paper cores; paper container products including corrugated boards, corrugated cartons, display cartons, waterproof cartons, and paper pallets; fine and specialty papers like copper plate paper, light-coated paper, glazed printing paper; and household paper products including sanitary tissue, facial tissue, kitchen towels, paper towels, and related hygiene products under established brand names. Additionally, Cheng Loong produces baby diapers, foaming hand soap, green paper art products for educational and pet toys, and various cultural and creative paper products. The company also provides ancillary services such as pre-print services, packaging decoration printing, and technical maintenance, alongside operations in residential and commercial real estate development. Its geographic reach spans Taiwan as the headquarters location in Taichung, with significant operations across China and Southeast Asia. Founded in 1959, Cheng Loong Corporation has cultivated its expertise in paper and packaging manufacturing, leveraging a comprehensive product line to serve industries including food and drink packaging, personal hygiene, publishing materials, and industrial packaging. The company operates several subsidiaries, including a 100% owned subsidiary, New Chung Ming International Co., Ltd., established in 2024 to optimize its investment structure. Recent strategic initiatives include a major investment in sustainability and energy efficiency at its flagship Houli paper mill in Taiwan. Cheng Loong is undertaking a significant upgrade by installing a circulating fluidized bed (CFB) boiler and associated flue gas treatment and automation systems in partnership with Valmet, aimed at reducing coal usage by substituting it with waste and biomass fuel. This project is projected to reduce the mill’s annual CO2 emissions by approximately 48,000 tonnes and increase the proportion of non-fossil fuel energy to over 30 percent, underpinning Cheng Loong’s commitment to decarbonization and sustainable operations. This initiative also includes comprehensive waste handling to improve environmental impact and operational efficiency. Cheng Loong continues to expand its manufacturing capacity, recently commissioning a new containerboard production line with advanced board-making technology to meet growing demand for corrugated medium products. This combination of extensive product lines, expanded geographic footprint, and recent operational enhancements positions Cheng Loong Corporation as a prominent player in the Asian paper and packaging industry, with a clear strategic focus on innovation, sustainability, and market expansion.