Shiny Chemical Industrial Co., Ltd. (1773) AI Stock Analysis

Shiny Chemical Industrial Co., Ltd.

(TWSE:1773)

Select Model

Rating:70Outperform

Price Target:TWD 157.00▲(5.37% Upside)

Action:initiatedcoverage

Date:11/10/26

Strong profitability, healthy leverage, and reasonable valuation support the stock. However, sharply weaker cash generation and bearish technical trends materially reduce the overall score.

Positive Factors

Strong profitabilityHigh and improving margins indicate strong earnings power and effective pricing and/or cost control. This profitability provides internal resources for reinvestment, supports resilience across downstream industrial demand cycles, and can help sustain competitive positioning over the next several quarters.

Negative Factors

Weak cash conversionOperating cash flow materially below net income indicates that reported profits are not converting fully into cash, potentially reflecting working-capital swings or other timing effects. Persistent weak conversion could reduce internally funded investment capacity and make financing needs more important.

Shiny Chemical Industrial Co., Ltd. (1773) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 45.15B
Dividend Yield: 2.68%
Average Volume (3M): 669.32K
Price to Earnings (P/E): 17.3
Beta (1Y): 0.81
Revenue Growth: 19.58%
EPS Growth: 31.55%
Country: TW
Employees: 288
Sector: General
Sector Strength: 55
Industry: Chemicals - Specialty

Shiny Chemical Industrial Co., Ltd. Business Overview & Revenue Model

Company Description

Based in Taiwan, Shiny Chemical Industrial Company Limited specializes in the production and distribution of chemical solvents for both electronic and industrial applications. Its portfolio of electronic-grade solvents encompasses menthyl acetates, e...

Shiny Chemical Industrial Co., Ltd. Financial Statement Overview

Summary

Strong profitability and balance-sheet quality, supported by improving margins, 0.35 debt-to-equity, and 22.1% return on equity. The score is reduced by declining operating cash flow and a 53.7% drop in free cash flow.

Income Statement

88Very Positive

Balance Sheet

86Very Positive

Cash Flow

68Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	13.65B	11.50B	11.05B	9.85B	11.35B	11.14B
Gross Profit	4.84B	3.98B	3.60B	3.16B	3.38B	3.13B
EBITDA	3.91B	3.25B	2.93B	2.39B	2.49B	2.23B
Net Income	2.59B	2.04B	1.80B	1.58B	1.83B	1.62B
Balance Sheet
Total Assets	19.49B	17.05B	15.59B	14.49B	13.52B	10.94B
Cash, Cash Equivalents and Short-Term Investments	463.28M	520.20M	424.03M	332.63M	518.87M	360.63M
Total Debt	4.29B	3.02B	3.57B	3.72B	3.19B	2.19B
Total Liabilities	7.14B	5.66B	5.82B	5.78B	5.49B	4.16B
Stockholders Equity	12.20B	11.24B	9.77B	8.70B	8.04B	6.78B
Cash Flow
Free Cash Flow	500.56M	1.27B	1.09B	194.04M	-279.36M	-522.97M
Operating Cash Flow	2.79B	3.05B	2.35B	2.11B	2.27B	1.42B
Investing Cash Flow	-2.47B	-1.94B	-1.31B	-1.91B	-2.55B	-1.97B
Financing Cash Flow	-311.61M	-1.17B	-945.98M	-380.50M	431.17M	401.96M

Shiny Chemical Industrial Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:1773 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:4763	73Outperform	TWD 42.98B	10.50	―	7.01%	-36.33%	-49.76%
TW:4766	72Outperform	TWD 41.72B	14.76	―	5.20%	2.93%	9.20%
TW:1773	70Outperform	TWD 44.70B	17.29	―	2.68%	19.58%	31.55%
TW:5234	69Neutral	TWD 27.01B	31.26	―	2.47%	10.41%	29.40%
TW:4772	68Neutral	TWD 32.12B	36.31	―	1.38%	163.69%	66.91%
TW:4749	62Neutral	TWD 62.81B	52.41	―	1.21%	19.16%	38.15%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

TW:1773 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:1773	Shiny Chemical Industrial Co., Ltd.	149.00	9.22	6.60%
TW:4749	Advanced Echem Materials Company Limited	663.00	-136.36	-17.06%
TW:4763	Jinan Acetate Chemical Co., Ltd.	43.50	-9.04	-17.21%
TW:4766	Nan Pao Resins Chemical Co. Ltd.	346.00	19.12	5.85%
TW:4772	Taiwan Speciality Chemicals Corporation	217.50	-77.83	-26.35%
TW:5234	Daxin Materials Corporation	263.00	-75.79	-22.37%

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 10, 2026

Shiny Chemical Industrial Co., Ltd. AI Stock Analysis