Celxpert Energy Corporation (3323) AI Stock Analysis

Celxpert Energy Corporation

(TPEx:3323)

Select Model

Rating:42Neutral

Price Target:TWD 22.00▼(-11.29% Downside)

Action:initiatedcoverage

Date:11/09/26

The score is held down primarily by weak financial performance: four straight years of revenue decline, three consecutive annual losses, and negative operating profit and EBITDA in the latest year indicate the cost structure has not adjusted to the smaller revenue base. The main support is a conservative balance sheet — low leverage (debt-to-equity of 0.39), a NT$2.48 billion equity cushion, and still-positive free cash flow — which buys time for a turnaround. Technicals reinforce the caution, with the price below all major moving averages and negative MACD confirming a downtrend, though deeply oversold RSI and Stochastic readings suggest scope for a short-term bounce. Valuation offers little comfort: earnings are negative so the P/E is not meaningful, and the 4.3% dividend yield carries sustainability risk given thin cash generation. A stabilisation in revenue and visible cost reduction would be the key catalysts for improvement.

Positive Factors

Improving LeverageLower debt-to-equity indicates some balance-sheet de-risking and preserves financial flexibility relative to earlier periods. Sizable equity versus assets also supports solvency, giving Celxpert a stronger base to manage losses and pursue recovery without relying solely on additional borrowing.

Negative Factors

Multi-Year Revenue DeclineA prolonged revenue downtrend reduces scale, weakens fixed-cost absorption, and makes it harder to rebuild operating leverage. Continued contraction can also constrain investment capacity and indicates that the company has not yet demonstrated durable demand recovery across its business.

Celxpert Energy Corporation (3323) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 2.47B
Dividend Yield: 4.03%
Average Volume (3M): 350.61K
Price to Earnings (P/E): -16.0
Beta (1Y): 1.03
Revenue Growth: -11.77%
EPS Growth: 16.65%
Country: TW
Employees: 269
Sector: General
Sector Strength: 55
Industry: Electrical Equipment & Parts

Celxpert Energy Corporation Business Overview & Revenue Model

Company Description

Celxpert Energy Corporation, established in 1997 and headquartered in Taoyuan City, Taiwan, is a leading provider in the lithium-ion battery sector. The company specializes in the production, refinement, distribution, and global sale of these advance...

Celxpert Energy Corporation Financial Statement Overview

Summary

Celxpert is in a deep contraction. Revenue has fallen roughly 65% from its 2021 peak to NT$4.95 billion, with a third consecutive annual loss (net loss of NT$177.0 million, wider than 2024's NT$98.4 million) and operating profit and EBITDA both turning negative. Gross margin has held near 8-9%, but it is too thin to cover the fixed cost base. The balance sheet is the key offset: debt has been cut to NT$979 million, debt-to-equity is a conservative 0.39, and equity of NT$2.48 billion funds about half the asset base. Cash flow remains positive but is thinning fast, with free cash flow down about 72% to NT$38.1 million and operating cash flow covering just 3.9% of total debt. Overall: adequate financial resilience, but no earnings power and an eroding equity base.

Income Statement

24Negative

Balance Sheet

60Neutral

Cash Flow

41Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.65B	4.95B	5.45B	7.20B	11.10B	13.95B
Gross Profit	416.24M	425.46M	474.85M	466.35M	921.36M	1.09B
EBITDA	-52.44M	-8.54M	137.93M	-58.19M	381.58M	472.05M
Net Income	-154.53M	-177.00M	-98.41M	-270.65M	220.61M	254.08M
Balance Sheet
Total Assets	4.56B	4.79B	5.64B	5.26B	6.60B	7.66B
Cash, Cash Equivalents and Short-Term Investments	987.58M	2.19B	2.36B	2.09B	1.14B	664.04M
Total Debt	749.73M	979.36M	1.28B	1.32B	1.79B	2.03B
Total Liabilities	2.10B	2.22B	3.00B	2.76B	4.00B	5.15B
Stockholders Equity	2.39B	2.48B	2.56B	2.48B	2.59B	2.51B
Cash Flow
Free Cash Flow	-146.38M	38.06M	135.73M	1.27B	841.06M	-1.12B
Operating Cash Flow	-95.88M	81.49M	281.69M	1.32B	1.08B	-909.56M
Investing Cash Flow	-309.06M	-209.49M	-467.52M	-529.65M	-215.73M	-199.05M
Financing Cash Flow	-21.66M	-192.57M	128.05M	-324.86M	-414.99M	890.10M

Celxpert Energy Corporation Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:3323 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:6642	55Neutral	TWD 2.36B	13.79	―	2.91%	5.09%	37.62%
TW:3438	52Neutral	TWD 2.34B	33.56	―	3.00%	-11.08%	111.39%
TW:3323	42Neutral	TWD 2.47B	-15.99	―	4.03%	-11.77%	16.65%
TW:1533	39Underperform	TWD 2.44B	9.23	―	―	20.93%	285.82%
TW:5227	27Underperform	TWD 2.20B	-37.75	―	―	-71.08%	76.53%

* General Sector Average

Performance Comparison

TW:3323 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:3323	Celxpert Energy Corporation	24.80	-14.00	-36.08%
TW:1533	Mobiletron Electronics Co., Ltd.	24.75	-8.35	-25.23%
TW:3438	Advanced Analog Technology, Inc.	50.00	4.20	9.16%
TW:5227	Advanced Lithium Electrochemistry (Cayman) Co. Ltd.	23.70	-1.09	-4.38%
TW:6642	Fuzetec Technology Co., Ltd.	61.80	7.53	13.88%
TW:6946	Santi Renewable Energy Co. Ltd.	7.22	-5.23	-42.01%

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

Celxpert Energy Corporation AI Stock Analysis