1. Taiwan Stocks

  2. •

    Process industries

  3. •

    Pulp & paper
Chung Hwa Pulp Corp.

Chung Hwa Pulp Corp.

TTWSE:1905
12.80
TWD
+0.05
(+0.39%)
-0.56EPS
18.31BMarket Cap
Nov 18Next Earn
Chung Hwa Pulp Corp.
TWSE:1905
(Taiwan Stock Exchange)

Recent

price

12.80

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
TWD
16.69
15.28
7.08
17.8
17.1
17.8
19.95
20.71
21.78
18.76
17.01
20.27
21.76
19.28
19.11
17.06
16.49
Revenue per Share
1.66
0.02
6.37
-0.61
0.02
0.66
0.35
0.56
0.4
-0.22
-0.18
0.45
0.41
-0.53
-0.23
-0.56
-0.51
Basic EPS, GAAP
1.88
-0.84
1
-0.78
-0.09
-1.01
0.35
0.94
-0.5
-0.44
-2.03
-1.07
-0.46
-0.52
-1.69
-2.57
-2.01
Free Cash Flow per Basic Share
- -
1.08
- -
- -
- -
0.1
0.6
0.35
0.5
0.35
- -
- -
0.41
0.3
- -
- -
- -
Dividend per Share
15.81
16.55
15.22
14.94
15.73
14.97
14.25
14.3
14.18
13.71
13.6
14.23
14.52
13.95
14.44
14.62
15.5
Book Value per Share
15.36
16.08
15.22
14.94
15.73
14.97
14.25
14.3
14.18
13.71
13.6
14.23
14.52
13.95
14.44
14.62
15.5
Tangible Book Value per Share
556
556
701
1,134
1,236
1,179
1,103
1,103
1,103
1,103
1,094
1,087
1,087
1,087
1,087
1,100
1,108
Basic Weighted Avg Shares
9,279
8,494
4,957
20,192
21,145
20,991
22,002
22,839
24,025
20,689
18,617
22,032
23,651
20,955
20,768
18,767
18,281
Sales/Revenue/Turnover
13.42
-0.26
-0.6
-4.08
-0.58
3.71
1.75
3.58
2.46
-1.85
-2.1
1.22
1.03
-4.1
-2.66
-8.13
-8.2
Operating Margin (%)
612
569
250
1,018
978
925
965
1,136
1,142
1,149
1,154
1,199
1,223
1,214
1,245
1,269
1,297
Depreciation Expense
923
11
4,461
-694
27
780
391
619
446
-245
-202
488
446
-573
-252
-613
-569
Net Income, GAAP
14.75
- -
0.35
- -
11.55
1.71
- -
18.02
20.45
- -
- -
11.68
0.95
- -
- -
- -
- -
Effective Tax Rate (%)
9.94
0.13
90
-3.44
0.13
3.71
1.78
2.71
1.85
-1.18
-1.08
2.22
1.89
-2.74
-1.21
-3.26
-3.11
Profit Margin (%)
3,912
6,225
7,255
7,167
7,528
5,310
4,468
4,065
4,605
1,982
858
1,208
9,593
1,890
2,737
2,639
5,177
Working Capital
346
240
282
360
920
1,240
1,842
914
1,696
174
1,407
820
8,720
1,302
2,057
1,925
3,921
LT Debt
10,373
11,602
19,597
19,421
19,952
19,103
18,059
18,182
18,064
17,395
16,986
17,634
18,095
17,484
18,193
18,587
19,643
Total Equity
9
- -
23.74
- -
-0.28
3.13
- -
2.76
1.89
- -
- -
0.94
0.9
- -
- -
- -
- -
Return on Invested Capital (%)
6.52
- -
24.11
- -
0.42
3.18
- -
2.32
1.74
- -
- -
2.17
1.72
- -
- -
- -
- -
Return on Capital (%)
11.03
0.13
33.71
-4.06
0.16
4.61
2.43
3.93
2.84
-1.59
-1.35
3.23
2.85
-3.71
-1.63
-3.85
-3.56
Return on Common Equity (%)

Capital Structure

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
14,108
13,905
12,723
LT Borrowings
1,822
2,123
3,816
LT Finance Leases
103
111
105
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,103
1,103
1,103
Market Capitalization
12,793
20,458
18,307

Working Capital

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
20,212
20,548
21,370
Cash, Cash Equivalents & STI
5,303
5,841
6,568
Accounts Receivable, Net
3,318
2,847
2,872
Inventories
10,067
10,744
10,837
Total Current Liabilities
17,574
17,496
16,193
Payables & Accruals
- -
- -
- -
ST Debt
14,108
13,905
12,723
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-0.22%
1.85%
2.17%
Free Cash Flow
41.94%
37.56%
54.15%
Net Income, GAAP
-68.45%
-98.45%
142.96%
Sales/Revenue/Turnover
-0.63%
0.75%
-9.63%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
5,283
5,407
5,021
5,057
20,768
2025
4,830
4,737
4,527
4,673
18,767
2026
4,394
4,686
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.04
-0.17
0.07
-0.17
-0.23
2025
-0.31
-0.25
-0.28
0.29
-0.56
2026
-0.16
-0.36
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Chung Hwa Pulp Corporation engages primarily in the manufacture and sale of pulp, paper, paperboard, specialty paper, fine paper, specialty chemicals, and tape products. Its core product portfolio includes bleached hardwood kraft pulp, various grades of paper for printing and writing, packaging paper and paperboard, specialty paper such as label and release liner papers, crepe paper for tape, medical and food packaging papers, optical paper, and base paper for construction materials. The company also produces mold fiber foodservice products including plates, bowls, trays, clamshell containers, and lids. Besides paper-related products, Chung Hwa Pulp Corporation operates in forestry and agriculture, covering afforestation, logging, and seedling cultivation. The company conducts environmental protection technology research and development including wastewater, exhaust gas, noise, solid waste treatment, and water treatment projects, along with consulting services related to environmental protection. It also deals in sales of chemical raw materials. Chung Hwa Pulp operates five production sites and six sales offices across Taiwan and Mainland China and markets its products globally. Founded in 1968, the company is headquartered in Hualien City, Taiwan, and is a subsidiary of YFY Inc. Recently, Chung Hwa Pulp Corporation has undertaken significant operational enhancements, notably awarding an order to international technology group ANDRITZ to supply advanced chemical recovery technologies for its pulp mill in Hualien. This move reflects the company’s commitment to environmentally sustainable production and operational efficiency. The implementation of ANDRITZ’s cutting-edge solutions is scheduled for completion by the second quarter of 2027, marking a major technological upgrade in the company’s manufacturing processes. Additionally, the company appointed a new Chief Information Security Officer in late 2025, highlighting strategic organizational changes aimed at strengthening corporate governance and information security. Chung Hwa Pulp continues to uphold a vertically integrated business model combining forestation with pulp and paper manufacturing, emphasizing green environmental protection and innovative technology development as pillars of its sustainable development strategy. These initiatives collectively denote strategic shifts toward enhanced sustainability, technological modernization, and expanded service offerings within the pulp and paper industry in the past 1-2 years.