Kian Shen Corporation (1525) AI Stock Analysis

Kian Shen Corporation

(TWSE:1525)

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Rating:54.1Neutral

Price Target:TWD 63.00▲(1.78% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is primarily constrained by declining operating performance, weak cash conversion, and negative technical momentum. A very strong balance sheet and attractive dividend yield provide support, but they do not fully offset the elevated valuation and deteriorating earnings quality.

Positive Factors

Conservative Balance SheetVery low leverage gives Kian Shen substantial financial flexibility through industry cycles and reduces dependence on external funding. A conservative balance sheet can help the company absorb demand weakness, continue essential investment, and preserve strategic options when operating conditions become less favorable.

Negative Factors

Recent Revenue ContractionRevenue contraction over the last two years indicates weaker demand or reduced business momentum in Kian Shen’s bicycle-related operations. If this persists, it could limit operating leverage, reduce the scale available to support fixed costs, and make future earnings increasingly dependent on maintaining margins.

Kian Shen Corporation (1525) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 4.56B
Dividend Yield: 4.52%
Average Volume (3M): 14.39K
Price to Earnings (P/E): 29.9
Beta (1Y): 0.24
Revenue Growth: 3.84%
EPS Growth: -46.54%
Country: TW
Employees: 335
Sector: General
Sector Strength: 55
Industry: Auto - Parts

Kian Shen Corporation Business Overview & Revenue Model

Company Description

Kian Shen Corporation, established in 1955 and based in Taoyuan City, Taiwan, specializes in the manufacturing and supply of various automotive components. Its extensive product range encompasses frames for trucks and buses, electric scooter chassis,...

Kian Shen Corporation Financial Statement Overview

Summary

Profitability remains positive and the balance sheet is very strong, with low leverage and rising equity. However, declining revenue and net income, sharply lower EBIT margin, and negative free cash flow materially weaken financial quality.

Income Statement

52Neutral

Balance Sheet

88Very Positive

Cash Flow

35Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.31B	1.25B	1.46B	1.60B	1.50B	1.28B
Gross Profit	205.66M	163.31M	178.50M	180.75M	147.50M	103.89M
EBITDA	166.37M	129.58M	463.46M	163.98M	395.54M	425.24M
Net Income	107.58M	235.77M	302.16M	403.82M	269.82M	306.77M
Balance Sheet
Total Assets	5.93B	5.71B	5.86B	5.75B	5.61B	5.32B
Cash, Cash Equivalents and Short-Term Investments	2.14B	1.55B	1.87B	1.86B	1.37B	805.98M
Total Debt	158.58M	151.19M	187.06M	293.20M	512.68M	406.72M
Total Liabilities	939.02M	683.26M	865.80M	967.47M	989.56M	884.96M
Stockholders Equity	4.99B	5.02B	4.99B	4.78B	4.62B	4.44B
Cash Flow
Free Cash Flow	582.16M	-52.43M	-74.33M	33.61M	-147.91M	-28.78M
Operating Cash Flow	710.93M	60.01M	19.53M	106.33M	-66.67M	-1.03M
Investing Cash Flow	-166.14M	-94.63M	293.47M	-147.88M	800.33M	617.09M
Financing Cash Flow	-228.10M	-263.43M	-353.75M	-181.43M	-164.59M	-247.41M

Kian Shen Corporation Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:1525 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6983	63Neutral	TWD 4.34B	56.94	―	2.07%	―	―
TW:2497	62Neutral	TWD 4.82B	10.91	―	5.46%	2.76%	39.47%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:1525	54Neutral	TWD 4.55B	29.90	―	4.52%	3.84%	-46.54%
TW:4569	54Neutral	TWD 4.24B	16.13	―	2.27%	12.32%	150.98%
TW:1528	44Neutral	TWD 4.70B	-82.94	―	0.39%	2.48%	45.58%

* General Sector Average

Performance Comparison

TW:1525 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:1525	Kian Shen Corporation	61.90	1.01	1.65%
TW:1528	Anderson Industrial Corp.	28.20	12.10	75.16%
TW:2497	E-Lead Electronic Co., Ltd.	36.65	-3.28	-8.21%
TW:4569	Sixxon Tech Co Ltd	143.00	-4.08	-2.77%
TW:6983	HUA YANG Precision Machinery Co., Ltd.	241.00	109.32	83.02%
TW:7736	HUSHAN Autoparts, Inc.	68.30	-19.29	-22.02%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 09, 2026

Kian Shen Corporation AI Stock Analysis