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    Engineering & construction
Hwang Chang General Contractor Co., Ltd.

Hwang Chang General Contractor Co., Ltd.

TTWSE:2543
37.10
TWD
-0.70
(-1.85%)
2.91EPS
13.72P/E
19.83BMarket Cap
Nov 18Next 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
10.89
13.31
12.24
10.52
9.15
10.17
12.82
14.61
18.26
19.27
27.8
27.66
22.48
27.61
Basic EPS, GAAP
0.8
0.71
0.26
0.26
0.02
-1.17
0.05
0.08
0.84
0.55
1.26
4.49
2.69
2.81
Free Cash Flow per Basic Share
-2.6
-2.74
-0.82
1.37
0.21
-1.43
-0.89
-2.19
1.03
0.31
4.86
-5.75
-3.96
-6.35
Dividend per Share
- -
- -
- -
0.16
0.16
- -
- -
- -
- -
- -
0.18
0.43
0.76
0.5
Book Value per Share
5.21
5.5
5.75
5.72
5.58
4.46
4.51
4.57
5.39
5.94
6.92
13.93
18.75
18.2
Tangible Book Value per Share
5.2
5.5
5.74
5.72
5.57
4.45
4.5
4.57
5.38
5.93
6.92
13.92
18.74
18.19
Basic Weighted Avg Shares
330
411
447
441
438
438
438
438
438
438
406
449
527
528
Sales/Revenue/Turnover
3,598
5,475
5,469
4,644
4,010
4,457
5,621
6,406
8,003
8,448
11,275
12,431
11,839
14,580
Operating Margin (%)
1.44
5.3
1.29
0.49
0.62
-11.56
0.68
0.24
-1.29
2.01
6.59
20.79
14.65
13.54
Depreciation Expense
112
96
83
71
62
63
118
203
255
277
366
592
799
970
Net Income, GAAP
264
291
118
113
10
-513
23
36
370
242
510
2,018
1,415
1,484
Effective Tax Rate (%)
2.56
12.54
19.74
5.74
66.87
- -
- -
- -
3.32
5.28
16.7
21
19.97
19.79
Profit Margin (%)
7.33
5.31
2.16
2.44
0.26
-11.51
0.41
0.56
4.62
2.87
4.52
16.23
11.95
10.18
Working Capital
1,379
2,006
2,119
2,119
2,042
1,372
1,102
739
410
-361
-1,408
810
1,519
154
LT Debt
137
87
47
64
28
5
628
643
662
619
608
1,362
1,762
2,937
Total Equity
1,867
2,620
2,749
2,726
2,655
2,109
2,126
2,172
2,564
2,830
3,330
7,214
10,327
9,756
Return on Invested Capital (%)
1.62
7.36
1.54
0.61
0.24
- -
0.97
1.71
-1.85
5.75
10.75
25.13
10.85
10.16
Return on Capital (%)
10.99
9.11
3.27
3.82
0.65
- -
1.56
1.55
7.48
5
8.76
26.1
11.47
9.91
Return on Common Equity (%)
16.59
13.93
4.69
4.43
0.41
-23.09
1.17
1.79
16.92
9.75
18.09
40.62
16.81
15.68

Capital Structure

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
2,538
3,428
4,515
LT Borrowings
1,369
1,451
2,542
LT Finance Leases
394
405
394
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
530
529
514
Market Capitalization
31,855
30,550
19,827

Working Capital

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
9,788
9,147
10,548
Cash, Cash Equivalents & STI
3,544
3,317
2,700
Accounts Receivable, Net
1,763
1,074
1,829
Inventories
9
8
44
Total Current Liabilities
8,269
8,636
10,394
Payables & Accruals
- -
- -
- -
ST Debt
2,538
3,428
4,515
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
18.49%
41.18%
43.16%
Free Cash Flow
-17.35%
172.38%
-19.37%
Net Income, GAAP
-392.98%
255.45%
-29.88%
Sales/Revenue/Turnover
9.19%
13.89%
-4.77%
Total Cash Common Dividend
- -
- -
107.33%

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2,339
3,952
2,935
3,206
12,431
2025
2,392
2,610
3,184
3,652
11,839
2026
2,901
4,843
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.23
2.21
0.65
1.41
4.49
2025
0.59
0.63
0.71
0.75
2.69
2026
0.37
0.98
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
0.19
0.2
0.43
2025
- -
- -
- -
0.5
0.76
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Ming-Chao Lin
Full Time Employees
2,354
Sector
Industrial services
Industry
Engineering & construction
Address
No. 539, Tammei Street Taipei TP Taiwan 114
IPO Date
Oct 15, 1999
Website
hcgc.com.tw
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Business
Hwang Chang General Contractor Co., Ltd. (2543.TW) engages primarily in civil engineering and construction projects in Taiwan. The company undertakes a broad range of infrastructure developments, including subways, expressways, bridges, roads, residential buildings, wastewater treatment facilities, pump stations, river management projects, baseball stadiums, and highways; it also manufactures and sells ready-mixed concrete and provides earth retaining support and earthwork services through its Construction Engineering and Concrete segments. Hwang Chang operates predominantly in the domestic Taiwan market, with approximately 1,001 employees, and focuses on government and public sector contracts such as the Taipei Metro projects, Keelung River flood diversion, and Kaohsiung MRT initiatives. Founded in 1981 and listed on the Taiwan Stock Exchange in 1999, the company maintains its headquarters at 23F, No. 539, Tanmei Street, Neihu District, Taipei City, Taiwan. In recent developments, Hwang Chang purchased land sites in Taipei City for T$903.8 million in October 2025 to support expansion; it reported earnings for the second quarter and six months ended June 30, 2025 in August 2025; and commenced construction on the Shibi Tan Social Housing Zone 1 turnkey project in inner Taipei in 2025, hosted by Taipei City officials. The firm holds Top A Grade status for civil and hydraulic engineering, continues to secure maritime and heavy construction projects, and emphasizes quality, safety, and efficiency under leadership including Chairman Cheng Chin Chiang and CEO Chung Lei Huang.