Ji-Haw Industrial Co., Ltd. (3011) AI Stock Analysis

Ji-Haw Industrial Co., Ltd.

(TWSE:3011)

Select Model

Rating:39Underperform

Price Target:TWD 8.00▼(-6.65% Downside)

Action:initiatedcoverage

Date:11/09/26

Ji-Haw Industrial scores poorly, driven primarily by a deteriorating financial profile: shrinking revenue, negative gross margins, widening losses, and persistent cash burn that is being funded by a sharp rise in debt. The balance sheet still provides a partial cushion, with equity covering about half of assets, but that buffer is eroding. Technicals reinforce the caution, with the share price below all key moving averages and negative MACD, though extremely oversold RSI and Stochastic readings hint at potential for a short-term bounce. Valuation adds no support given negative earnings and no dividend. Until margins and cash flow stabilize, the risk profile remains elevated.

Positive Factors

Equity CushionA sizable equity base relative to assets provides some balance-sheet cushioning despite recent losses and rising leverage. This can help the company absorb near-term volatility and preserve financial flexibility while management works to restore profitability and cash generation.

Negative Factors

Severe Profitability DeclineThe move from modest profitability in 2021 to sustained losses, negative gross profit, and deeply negative operating margins indicates significant deterioration in the underlying earnings model. Persistent margin weakness can erode equity and make a durable recovery dependent on substantial cost or pricing improvements.

Ji-Haw Industrial Co., Ltd. (3011) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 1.08B
Dividend Yield: ―
Average Volume (3M): 429.64K
Price to Earnings (P/E): -2.5
Beta (1Y): 0.55
Revenue Growth: -41.95%
EPS Growth: -52.80%
Country: TW
Employees: 2,395
Sector: General
Sector Strength: 55
Industry: Hardware, Equipment & Parts

Ji-Haw Industrial Co., Ltd. Business Overview & Revenue Model

Company Description

Ji-Haw Industrial Co., Ltd. operates as a prominent entity focused on the research, production, and distribution of a wide array of information technology and communication cords and connectors. Its operational footprint extends across Taiwan, mainla...

Ji-Haw Industrial Co., Ltd. Financial Statement Overview

Summary

Financials are weak across the board. Revenue has more than halved since 2021 and fell roughly one-third in the latest year to about NT$755 million, while gross profit turned negative (-1.2% margin), meaning products are effectively being sold below cost. Operating losses widened to about -NT$343 million (-45% margin) and the net loss deepened to -NT$293 million, the fifth loss in six years. Cash generation is equally poor, with operating cash flow of -NT$181 million and free cash flow of -NT$237 million, negative in five of the past six years. The balance sheet is the only relative support: equity of about NT$1.32 billion still funds roughly half of assets, but it is shrinking as losses mount, debt has jumped from NT$146 million in 2022 to NT$931 million, and return on equity sits at about -22%.

Income Statement

11Very Negative

Balance Sheet

33Negative

Cash Flow

12Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	597.88M	754.64M	1.15B	1.15B	1.50B	1.57B
Gross Profit	-29.01M	-9.25M	84.92M	143.49M	190.74M	122.10M
EBITDA	-385.47M	-279.00M	-206.84M	-137.90M	83.05M	141.66M
Net Income	-409.89M	-292.93M	-248.78M	-131.40M	-13.49M	66.93M
Balance Sheet
Total Assets	2.64B	2.62B	2.94B	1.66B	1.68B	2.05B
Cash, Cash Equivalents and Short-Term Investments	228.28M	263.36M	364.79M	313.98M	425.82M	470.91M
Total Debt	961.65M	930.62M	871.90M	393.17M	146.31M	331.30M
Total Liabilities	1.27B	1.28B	1.36B	783.82M	657.78M	1.04B
Stockholders Equity	1.33B	1.32B	1.51B	878.25M	1.02B	1.01B
Cash Flow
Free Cash Flow	-295.04M	-237.39M	-207.68M	-134.69M	98.52M	-179.76M
Operating Cash Flow	-263.85M	-180.97M	-149.60M	-20.39M	112.08M	-165.18M
Investing Cash Flow	-57.89M	-89.70M	-164.01M	-292.87M	79.84M	209.34M
Financing Cash Flow	215.83M	184.90M	333.21M	197.45M	-180.31M	134.54M

Ji-Haw Industrial Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:3011 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6418	57Neutral	TWD 1.25B	95.16	―	1.05%	6.54%	-63.74%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:3646	53Neutral	TWD 982.43M	-103.93	―	3.60%	16.82%	-138.93%
TW:3531	48Neutral	TWD 1.26B	32.62	―	2.43%	-24.73%	39.93%
TW:3322	40Underperform	TWD 1.21B	-6.59	―	―	3.84%	-11.85%
TW:3011	39Underperform	TWD 1.11B	-2.51	―	―	-41.95%	-52.80%

* General Sector Average

Performance Comparison

TW:3011 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:3011	Ji-Haw Industrial Co., Ltd.	8.57	-4.88	-36.28%
TW:3322	Joinsoon Electronics Manufacturing Co., Ltd.	8.81	-3.98	-31.10%
TW:3531	Shian Yih Electronic Industry Co., Ltd	20.55	-1.28	-5.85%
TW:3646	Ant Precision Industry Co., Ltd	25.00	-1.85	-6.89%
TW:6418	Y-S Electronic Co., Ltd.	36.30	-11.37	-23.86%
TW:6833	T-Conn Precision Corporation	17.50	-6.23	-26.26%

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

Ji-Haw Industrial Co., Ltd. AI Stock Analysis