Shin Zu Shing Co., Ltd. (3376) AI Stock Analysis

Shin Zu Shing Co., Ltd.

(TWSE:3376)

Select Model

Rating:48Neutral

Price Target:TWD 108.00▼(-9.62% Downside)

Action:initiatedcoverage

Date:11/10/26

The overall score is constrained by weakening profitability, negative free cash flow, strongly bearish technical positioning, and an elevated P/E ratio. The conservative balance sheet and dividend yield provide partial support, but do not offset the earnings and valuation risks.

Positive Factors

Conservative Balance SheetDebt remains modest relative to equity, while the sizable equity base provides financial resilience. This conservative funding structure reduces solvency and refinancing pressure, preserving flexibility to navigate cyclical demand and fund investment without relying heavily on additional borrowing.

Negative Factors

Revenue ContractionThe latest revenue decline indicates that demand and operating scale weakened after the prior-year rebound. Sustained contraction would reduce fixed-cost absorption and limit reinvestment capacity, making it harder for the company to restore prior profitability without renewed top-line growth.

Shin Zu Shing Co., Ltd. (3376) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 22.71B
Dividend Yield: 3.35%
Average Volume (3M): 4.24M
Price to Earnings (P/E): 82.1
Beta (1Y): 1.19
Revenue Growth: -21.58%
EPS Growth: -63.49%
Country: TW
Employees: 51,968
Sector: General
Sector Strength: 55
Industry: Industrial - Machinery

Shin Zu Shing Co., Ltd. Business Overview & Revenue Model

Company Description

Shin Zu Shing Co., Ltd. engages in the research, design, development, production, assembly, testing, manufacturing, and trading of various precision springs, stamping parts, hinge components, CNC lathes, and metal injection molding in Taiwan, Singapo...

Shin Zu Shing Co., Ltd. Financial Statement Overview

Summary

Financial quality is mixed: the balance sheet is strong with low debt and substantial equity, but revenue and margins weakened materially, return on equity fell to 1.9%, and free cash flow remained negative.

Income Statement

35Negative

Balance Sheet

82Very Positive

Cash Flow

45Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	9.96B	10.72B	13.33B	10.07B	11.82B	12.14B
Gross Profit	1.18B	1.37B	2.46B	1.80B	2.50B	2.44B
EBITDA	622.00M	679.66M	2.45B	1.78B	2.91B	2.27B
Net Income	284.36M	318.26M	1.36B	807.40M	1.66B	1.17B
Balance Sheet
Total Assets	22.83B	22.23B	23.27B	21.55B	21.44B	21.36B
Cash, Cash Equivalents and Short-Term Investments	4.44B	4.40B	6.16B	6.58B	6.46B	7.95B
Total Debt	1.65B	1.10B	790.57M	1.88B	1.89B	1.28B
Total Liabilities	6.29B	5.04B	5.30B	6.00B	5.56B	5.83B
Stockholders Equity	16.54B	17.19B	17.97B	15.55B	15.88B	15.53B
Cash Flow
Free Cash Flow	-614.17M	-137.45M	-140.91M	1.99B	1.34B	1.95B
Operating Cash Flow	387.68M	1.20B	641.63M	2.11B	1.53B	2.23B
Investing Cash Flow	14.76M	-866.94M	-1.11B	-1.59B	-2.53B	2.39B
Financing Cash Flow	-420.14M	-872.09M	-293.57M	-1.14B	-909.29M	-1.28B

Shin Zu Shing Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:3376 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:5007	73Outperform	TWD 16.46B	15.69	―	5.38%	0.29%	31.68%
TW:2476	65Neutral	TWD 20.92B	14.92	―	3.11%	36.13%	60.59%
TW:3605	64Neutral	TWD 22.61B	31.74	―	1.22%	13.61%	-8.06%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:3376	48Neutral	TWD 23.40B	82.07	―	3.35%	-21.58%	-63.49%
TW:2392	45Neutral	TWD 16.68B	4.42	―	2.91%	-10.50%	1834.43%

* General Sector Average

Performance Comparison

TW:3376 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:3376	Shin Zu Shing Co., Ltd.	119.50	-64.92	-35.20%
TW:2392	Cheng Uei Precision Industry Co., Ltd.	34.40	-10.16	-22.80%
TW:2476	G-SHANK Enterprise Co., Ltd.	95.50	3.00	3.24%
TW:3605	ACES Electronics Co., Ltd.	129.00	62.56	94.15%
TW:4573	GMT Global Inc.	496.50	429.61	642.25%
TW:5007	San Shing Fastech Corp.	55.80	7.24	14.91%

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

Shin Zu Shing Co., Ltd. AI Stock Analysis