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    Real estate development
Shining Building Business Co. Ltd.

Shining Building Business Co. Ltd.

TTWSE:5531
6.73
TWD
-0.01
(-0.15%)
-0.07EPS
71.31P/E
7.77BMarket Cap
Shining Building Business Co. Ltd.
TWSE:5531
(Taiwan Stock Exchange)

Recent

price

6.73

P/E

ratio

71.31

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
TWD
2.98
6.29
5.04
10.32
5.66
4.91
7.96
5.25
7.52
7.94
6.03
3.55
1.36
3.87
4.2
1.1
1.15
Revenue per Share
0.88
1.18
1.54
3.29
1.23
0.23
0.54
0.62
0.17
0.07
0.17
-0.67
-1.41
-0.2
-0.12
-0.28
0.11
Basic EPS, GAAP
0.01
-1.92
-2.7
-3.7
-3.7
-0.65
0.73
0.87
0.06
3.22
1.67
-3.06
-1.66
-0.75
1.6
-0.62
-0.11
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
6.35
6.11
7.46
10.09
11.31
11.18
11.25
11.73
11.85
11.67
11.76
11.59
10.68
10.36
10.57
10.07
10.06
Book Value per Share
6.35
6.11
7.24
9.87
11.07
10.93
11.09
11.62
11.76
11.6
11.72
11.58
10.67
10.36
10.57
10.07
10.06
Tangible Book Value per Share
854
819
893
756
893
982
936
936
973
982
981
978
978
978
978
978
962
Basic Weighted Avg Shares
2,549
5,154
4,498
7,797
5,052
4,826
7,447
4,912
7,313
7,804
5,916
3,474
1,330
3,779
4,108
1,073
1,104
Sales/Revenue/Turnover
29.69
19.22
31.6
37.08
22.24
8.85
12.84
12.73
9.37
20.19
7.08
-11.26
-70.82
-7.55
1.63
-70.81
-64.76
Operating Margin (%)
4
3
7
11
18
157
239
209
365
351
546
607
598
593
576
547
553
Depreciation Expense
752
962
1,377
2,484
1,095
223
505
584
162
65
167
-654
-1,376
-195
-115
-276
107
Net Income, GAAP
1.37
2.45
2.61
11.54
23.57
165.03
0.31
18.53
119.3
20.4
28.25
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
29.49
18.67
30.62
31.85
21.68
4.61
6.79
11.89
2.22
0.83
2.82
-18.82
-103.44
-5.17
-2.79
-25.69
9.71
Profit Margin (%)
5,725
5,556
8,917
13,874
18,176
16,664
12,085
15,896
10,469
8,017
6,892
8,746
5,578
3,475
562
32
-582
Working Capital
- -
758
1,806
3,409
6,271
6,800
5,194
8,319
9,697
7,907
7,715
14,394
9,701
11,234
10,218
11,513
11,912
LT Debt
6,237
6,007
7,952
11,658
12,913
12,084
11,986
12,305
12,079
12,499
12,460
12,081
10,964
10,524
10,542
9,848
9,718
Total Equity
5.11
6.06
7.66
11.55
3.01
-0.88
3.1
1.61
-0.42
4.14
1.04
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
5.2
6.16
8.03
11.67
4.69
0.58
3.49
3.12
0.8
-0.64
2.42
- -
- -
- -
- -
- -
- -
Return on Capital (%)
12.83
15.72
20.66
28.81
10.42
2.02
4.59
5.17
1.4
0.56
1.45
-5.73
-12.64
-1.9
-1.12
-2.73
1.13
Return on Common Equity (%)

Capital Structure

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
9,884
10,312
10,646
LT Borrowings
11,506
11,831
11,907
LT Finance Leases
7
6
5
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
978
978
978
Market Capitalization
8,896
8,749
7,772

Working Capital

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
21,759
22,378
22,975
Cash, Cash Equivalents & STI
1,332
1,248
1,221
Accounts Receivable, Net
22
10
25
Inventories
18,449
19,047
19,580
Total Current Liabilities
21,727
22,759
23,557
Payables & Accruals
- -
- -
- -
ST Debt
9,884
10,312
10,646
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-1.95%
-4.54%
-6.58%
Free Cash Flow
463.13%
-167.13%
-138.93%
Net Income, GAAP
-20.1%
-73.72%
139.97%
Sales/Revenue/Turnover
6.76%
3.18%
-73.89%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
170
197
1,062
2,679
4,108
2025
125
167
612
169
1,073
2026
143
180
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.31
-0.44
0.25
0.39
-0.12
2025
-0.27
-0.24
0.38
-0.15
-0.28
2026
0.07
-0.19
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Shining Building Business Co., Ltd. (5531.TW) is a Taiwan-based real estate developer primarily engaged in the construction, development, sales, and leasing of residential properties, commercial buildings, and office spaces; it also undertakes contract construction and civil engineering projects, hotel development and management under the Lalu brand, national housing leasing and sales, general investment activities, enterprise management services, and engineering consulting. The company operates through three main segments—properties development, construction business, and other business—primarily in central and northern Taiwan as well as Mainland China sites including Chengdu and Qingdao, where it develops residential projects like the R6 Hanbitianxia site and commercial plots; it maintains subsidiaries such as Tai Yu Construction Co., Ltd. for construction control, Qingdao Ding-Lin Real Estate Co., Ltd. and Nanjing Ding-Zheng Real Estate Co., Ltd. for China operations, and hotel entities. Founded in 1990 and headquartered at No. 408, Section 2, Taiwan Boulevard, West District, Taichung City, Taiwan, the company listed on the Taiwan Stock Exchange in 2005 and reported consolidated revenue of NT$3.78 billion in 2023, driven by projects including Shining Hengmei and Shining Yuchuan. Recent developments include the first-quarter 2024 launches of the Shining The Zhongshan urban renewal project in Taipei's Zhongshan District and Shining Yun Feng in Yunlin's Douliu, with the Wanhua redevelopment slated for third-quarter presales; both incorporate ESG features such as rooftop solar panels, green spaces, rooftop gardens, and zero net carbon designs; ongoing Chengdu advancements feature the NT$10 billion R6 residential launch amid stabilized market policies without purchase restrictions; a planned NT$84 billion five-year pipeline across Taiwan and China targets NT$20-30 billion annual launches; and 2023 investments included NT$792 million in equity-method entities while expecting up to NT$2 billion funding from Dingzheng and Dinglin Investments.