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

TW:1773

Shiny Chemical Industrial Co., Ltd.

(TWSE:1773)

Select Model
Rating:63Neutral
Price Target:TWD 152.00▲(3.40% Upside)
Action:initiatedcoverage
Date:11/10/26

The overall score of 63 reflects a company with solid financial fundamentals that is currently under severe technical pressure. The primary strength is the improving profitability and healthy balance sheet, which supports the long-term outlook. This is significantly offset by the stock's bearish technical posture, with the price in a clear downtrend and deeply oversold, and a secondary concern over the sharp decline in free cash flow due to a heavy investment cycle. The reasonable valuation and dividend yield provide some support but are not enough to counteract the negative momentum.

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)

-10%0%10%20%30%40%50%TW:1773+8.98%SPY+13.89%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 45.00B
Dividend Yield
2.72%
Average Volume (3M)
668.95K
Price to Earnings (P/E)
17.1
Beta (1Y)
0.82
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 and improving profitability with accelerating revenue growth and expanding margins. The balance sheet is healthy with reduced leverage and high ROE. However, cash flow is a concern due to a significant decline in free cash flow driven by heavy capital expenditures, creating a divergence from strong income statement performance.

Income Statement

78Positive

Balance Sheet

75Positive

Cash Flow

55Neutral
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue13.65B11.50B11.05B9.85B11.35B11.14B
Gross Profit4.84B3.98B3.60B3.16B3.38B3.13B
EBITDA3.91B3.25B2.93B2.39B2.49B2.23B
Net Income2.59B2.04B1.80B1.58B1.83B1.62B
Balance Sheet
Total Assets19.49B17.05B15.59B14.49B13.52B10.94B
Cash, Cash Equivalents and Short-Term Investments463.28M520.20M424.03M332.63M518.87M360.63M
Total Debt4.29B3.02B3.57B3.72B3.19B2.19B
Total Liabilities7.14B5.66B5.82B5.78B5.49B4.16B
Stockholders Equity12.20B11.24B9.77B8.70B8.04B6.78B
Cash Flow
Free Cash Flow500.56M1.27B1.09B194.04M-279.36M-522.97M
Operating Cash Flow2.79B3.05B2.35B2.11B2.27B1.42B
Investing Cash Flow-2.47B-1.94B-1.31B-1.91B-2.55B-1.97B
Financing Cash Flow-311.61M-1.17B-945.98M-380.50M431.17M401.96M

Shiny Chemical Industrial Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:1773 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:4763TW:476373OutperformTWD 43.03B10.23―7.15%-36.33%-49.76%
TW:4766TW:476672OutperformTWD 40.99B14.31―5.37%8.05%14.14%
TW:5234TW:523469NeutralTWD 26.91B31.56―2.46%11.98%23.72%
TW:4772TW:477268NeutralTWD 32.19B35.81―1.40%163.69%66.91%
TW:1773TW:177363NeutralTWD 45.15B17.05―2.72%19.58%31.55%
TW:4749TW:474962NeutralTWD 66.60B43.73―1.17%19.16%38.15%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%

* General Sector Average

Performance Comparison

-20%0%20%40%TW:1773TW:4749TW:4763TW:4766TW:4772TW:5234Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:1773 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:1773Shiny Chemical Industrial Co., Ltd.147.008.205.91%
TW:4749Advanced Echem Materials Company Limited683.00-82.76-10.81%
TW:4763Jinan Acetate Chemical Co., Ltd.42.65-15.14-26.19%
TW:4766Nan Pao Resins Chemical Co. Ltd.335.5015.284.77%
TW:4772Taiwan Speciality Chemicals Corporation214.50-69.95-24.59%
TW:5234Daxin Materials Corporation264.50-73.80-21.81%
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