Syong Shun Metal CO., Ltd. (2073) AI Stock Analysis

Syong Shun Metal CO., Ltd.

(TPEx:2073)

Select Model

Rating:46Neutral

Price Target:TWD 25.00▼(-3.29% Downside)

Action:initiatedcoverage

Date:11/09/26

Syong Shun Metal scores below average, driven primarily by weak profitability: margins have fallen by two-thirds since 2021, revenue is stagnant, and the company has swung to an operating and net loss with negative return on equity. A conservatively financed balance sheet, low leverage and still-positive operating cash flow provide downside protection, but free cash flow has thinned considerably as capex absorbs most operating cash. Valuation offers little support given the negative P/E and a modest 1.15% dividend yield, and technicals are neutral with the stock trading flat against its longer-term moving averages and showing no clear momentum. A sustained recovery in margins is needed before the investment case improves.

Positive Factors

Manageable LeverageThe substantially lower debt-to-equity ratio indicates a more manageable capital structure for an industrial manufacturer. This gives Syong Shun greater financial flexibility to withstand weaker conditions, support ongoing operations, and pursue investment without relying as heavily on additional borrowing.

Negative Factors

Profitability DeteriorationThe shift from strong historical margins to a net loss represents a material deterioration in earnings power. Persistently weak profitability would reduce internally generated capital, limit resilience during downturns, and make it harder for the company to sustain returns or fund growth.

Syong Shun Metal CO., Ltd. (2073) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 710.88M
Dividend Yield: 1.16%
Average Volume (3M): 3,359
Price to Earnings (P/E): -36.8
Beta (1Y): -0.05
Revenue Growth: 9.64%
EPS Growth: -632.75%
Country: TW
Employees: 186
Sector: General
Sector Strength: 55
Industry: Manufacturing - Metal Fabrication

Syong Shun Metal CO., Ltd. Business Overview & Revenue Model

Company Description

Syong Shun Metal Co. Ltd. is a Taiwanese enterprise engaged in the manufacturing and sale of steel products. The company primarily furnishes wire rods, which are essential components for producing a diverse array of items, including fasteners like sc...

Syong Shun Metal CO., Ltd. Financial Statement Overview

Summary

Financial results are weak overall. Revenue has stagnated around NT$557.6 million, down ~3% and well below the 2021 peak, while gross margin collapsed from ~30% to 9.5%, pushing the company to an operating loss of NT$11.7 million and a net loss of NT$10.7 million (income statement score 28). The balance sheet is the clear offset: equity funds ~62% of assets, debt-to-equity has improved to 0.40, and solvency is not in question (score 66), though return on equity has turned negative at about -2.6%. Cash flow remains positive with NT$68 million from operations, but it has fallen sharply from NT$160 million in 2021 and heavy capex of ~NT$51 million leaves only NT$17 million of free cash flow (score 55). Net result: financial strength rests on the balance sheet, while earnings power and cash generation are deteriorating.

Income Statement

28Negative

Balance Sheet

66Positive

Cash Flow

55Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	646.23M	557.56M	591.89M	516.82M	602.66M	642.03M
Gross Profit	45.13M	53.05M	96.22M	83.67M	138.87M	195.19M
EBITDA	51.17M	58.05M	88.68M	93.61M	149.87M	186.66M
Net Income	-19.32M	-10.69M	17.21M	12.94M	49.08M	90.78M
Balance Sheet
Total Assets	817.49M	664.02M	725.72M	798.34M	786.20M	890.58M
Cash, Cash Equivalents and Short-Term Investments	47.01M	33.50M	49.69M	98.72M	46.73M	51.04M
Total Debt	330.32M	166.71M	177.56M	257.68M	265.18M	306.58M
Total Liabilities	423.67M	251.04M	281.78M	354.06M	374.16M	456.61M
Stockholders Equity	393.82M	412.98M	443.94M	444.29M	412.04M	433.96M
Cash Flow
Free Cash Flow	-106.39M	17.05M	48.66M	40.14M	97.51M	33.48M
Operating Cash Flow	-76.10M	68.04M	81.85M	63.20M	146.28M	160.21M
Investing Cash Flow	-30.07M	-50.95M	-32.85M	-23.06M	-48.63M	-126.23M
Financing Cash Flow	100.53M	-33.27M	-98.03M	11.42M	-101.96M	-13.61M

Syong Shun Metal CO., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2073 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:4702	48Neutral	TWD 676.32M	3.54	―	5.35%	-30.82%	387.63%
TW:2073	46Neutral	TWD 710.88M	-36.76	―	1.16%	9.64%	-632.75%
TW:4558	43Neutral	TWD 847.50M	19.09	―	―	10.33%	―
TW:1512	41Neutral	TWD 597.94M	31.46	―	―	9.19%	―
TW:2064	32Underperform	TWD 766.23M	555.00	―	―	8.38%	―

* General Sector Average

Performance Comparison

TW:2073 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2073	Syong Shun Metal CO., Ltd.	25.85	-1.36	-4.98%
TW:1512	Jui Li Enterprise Co., Ltd.	6.10	-1.98	-24.50%
TW:2064	Camellia Metal Co., Ltd.	11.25	-1.25	-10.00%
TW:2245	Nww Manufacturing Co. Ltd.	22.90	-2.44	-9.64%
TW:4558	Alformer Industrial Co Ltd	17.95	-2.50	-12.22%
TW:4702	Allied Industrial Corp., Ltd.	9.32	-0.19	-2.02%

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

Syong Shun Metal CO., Ltd. AI Stock Analysis