Jhen Vei Electronic Co., Ltd. (3520) AI Stock Analysis

Jhen Vei Electronic Co., Ltd.

(TPEx:3520)

Select Model

Rating:41Neutral

Price Target:TWD 15.50▼(-6.34% Downside)

Action:initiatedcoverage

Date:11/09/26

Jhen Vei Electronic scores low primarily on financial performance: despite record revenue, margins have compressed to multi-year lows, operating profit is near zero and the company posted a net loss, while rising debt is not matched by improving returns. Free cash flow is only marginally positive after capex and has been erratic historically. Technicals add further pressure, with the price below all key moving averages and a negative MACD, although deeply oversold RSI and Stochastic readings hint at scope for a near-term bounce. Valuation offers little support given negative earnings and a small 0.62% dividend yield. The moderately capitalized balance sheet and low beta are the main mitigating factors; a sustained re-rating would require gross margin recovery and better cash conversion.

Positive Factors

Strong Revenue ReboundThe sharp two-year revenue rebound indicates improving demand and/or pricing across the company’s electronic and electro-mechanical component business. If sustained, this larger revenue base can improve scale, support investment, and provide a platform for restoring profitability over the next several quarters.

Negative Factors

Profitability DeteriorationProfitability has deteriorated despite strong revenue growth, with net earnings turning negative and EBIT approaching breakeven. This suggests that cost pressure and weaker operating leverage are absorbing incremental sales, limiting internal funding capacity and making earnings recovery dependent on margin improvement.

Jhen Vei Electronic Co., Ltd. (3520) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 1.12B
Dividend Yield: 0.60%
Average Volume (3M): 176.19K
Price to Earnings (P/E): -127.9
Beta (1Y): 0.71
Revenue Growth: 4.44%
EPS Growth: -32.75%
Country: TW
Employees: 120
Sector: General
Sector Strength: 55
Industry: Hardware, Equipment & Parts

Jhen Vei Electronic Co., Ltd. Business Overview & Revenue Model

Company Description

Jhen Vei Electronic Co., Ltd. primarily specializes in the production and distribution of various wiring and cabling solutions. Beyond its core manufacturing operations, the company also deals in a selection of electrical plugs, sockets, computer cab...

Jhen Vei Electronic Co., Ltd. Financial Statement Overview

Summary

Revenue reached a multi-year high of roughly NT$1.21 billion, but profitability deteriorated sharply: gross margin fell to 13.3%, EBIT margin was essentially break-even at 0.2%, and the company swung to a NT$7.7 million net loss with negative return on equity. The balance sheet is the strongest pillar — equity of NT$799 million funds about half of assets and debt-to-equity of 0.57 is manageable — though leverage has risen steadily since 2020 while equity has declined for two years. Cash flow rebounded to positive operating cash flow of NT$29.2 million and barely positive free cash flow of NT$2.3 million, but conversion remains thin and historically volatile, with negative free cash flow in three of six years.

Income Statement

31Negative

Balance Sheet

56Neutral

Cash Flow

37Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Mar 2023	Dec 2021
Income Statement
Total Revenue	1.25B	1.21B	1.10B	836.33M	1.00B	619.50M
Gross Profit	138.97M	160.80M	159.45M	128.64M	157.18M	70.14M
EBITDA	71.38M	64.99M	103.56M	70.67M	163.10M	19.12M
Net Income	-8.85M	-7.66M	20.13M	3.82M	102.57M	6.69M
Balance Sheet
Total Assets	1.55B	1.55B	1.55B	1.43B	1.44B	1.49B
Cash, Cash Equivalents and Short-Term Investments	212.06M	221.22M	215.71M	324.83M	279.26M	366.65M
Total Debt	452.05M	457.56M	434.30M	351.85M	352.85M	246.93M
Total Liabilities	755.97M	753.62M	731.74M	638.95M	632.04M	703.21M
Stockholders Equity	795.41M	799.34M	817.61M	791.81M	812.08M	706.58M
Cash Flow
Free Cash Flow	-74.13M	2.34M	-166.08M	68.89M	36.85M	-180.86M
Operating Cash Flow	-40.40M	29.15M	-122.56M	105.32M	167.64M	58.21M
Investing Cash Flow	-41.56M	-30.75M	-40.38M	-23.20M	-453.64M	-178.50M
Financing Cash Flow	-29.07M	8.32M	36.83M	-33.44M	193.26M	385.68M

Jhen Vei Electronic Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:3520 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:3531	48Neutral	TWD 1.26B	32.62	―	2.43%	-24.73%	39.93%
TW:4999	44Neutral	TWD 1.17B	-8.97	―	1.59%	-13.56%	-165.86%
TW:3520	41Neutral	TWD 1.39B	-127.93	―	0.60%	4.44%	-32.75%
TW:3390	40Underperform	TWD 1.50B	-80.20	―	1.05%	18.32%	―
TW:3511	38Underperform	TWD 1.33B	-18.96	―	―	-6.72%	-11.85%
TW:3710	30Underperform	TWD 1.35B	-1.57	―	―	-1.88%	-7106.53%

* General Sector Average

Performance Comparison

TW:3520 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:3520	Jhen Vei Electronic Co., Ltd.	16.55	-1.90	-10.30%
TW:3390	Sunflex Technology Corp.	18.95	-3.16	-14.27%
TW:3511	Simula Technology, Inc.	16.65	-3.60	-17.78%
TW:3531	Shian Yih Electronic Industry Co., Ltd	20.55	-1.28	-5.85%
TW:3710	ACON Holding Inc.	7.65	-5.49	-41.77%
TW:4999	Sinher Technology Inc.	15.70	-9.04	-36.53%

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

Jhen Vei Electronic Co., Ltd. AI Stock Analysis