EFUN Technology Co., Ltd. AI Stock Analysis
EFUN Technology Co., Ltd. (3523) AI Stock Analysis
EFUN Technology Co., Ltd.
(TPEx:3523)
EFUN Technology scores poorly, driven primarily by severely weak financials: a 42% revenue decline, negative gross margins, six consecutive years of losses, and rising leverage at roughly 3.1x debt-to-equity against a shrinking equity base. Technicals reinforce the caution, with the stock trading below all major moving averages and negative MACD momentum, though the deeply oversold RSI leaves room for a short-term bounce. Valuation provides no cushion given negative earnings and no dividend. Modest positives — narrowing losses and a materially smaller cash burn — suggest an early-stage turnaround effort, but investors would need to see positive gross margins and stabilizing revenue before the elevated financial risk becomes manageable.
EFUN Technology Co., Ltd. (3523) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 755.03M
- Dividend Yield
- ―
- Average Volume (3M)
- 16.47K
- Price to Earnings (P/E)
- -9.1
- Beta (1Y)
- 0.87
- Revenue Growth
- 7.16%
- EPS Growth
- 43.29%
- Country
- TW
- Employees
- 719
- Sector
- General
- Sector Strength
- 55
- Industry
- Hardware, Equipment & Parts
EFUN Technology Co., Ltd. Business Overview & Revenue Model
Company Description
Established in 2000 and headquartered in Tainan City, Taiwan, EFUN Technology Co.,Ltd is a global innovator in the development, manufacturing, and sale of a wide range of optical products. Their comprehensive portfolio encompasses advanced film techn...
EFUN Technology Co., Ltd. Financial Statement Overview
Summary
Financials are deeply distressed. Revenue fell about 42% to NT$106.6 million in 2025, gross margin worsened to roughly -47%, and the operating margin sank to about -128%, with a net loss of NT$92.9 million. The company has not earned a positive gross profit since 2020 and has lost money for six straight years. Leverage has climbed to roughly 3.1x debt-to-equity as debt rose to NT$1.34 billion while equity eroded to NT$425.8 million, leaving a thin cushion and real refinancing/dilution risk. Operating cash flow remains negative at -NT$63.6 million. The only offsets are a narrowing net loss, materially lower cash burn, and improved free cash flow (-NT$82.5 million versus -NT$180.1 million) on sharply reduced capital spending.
Income Statement
8Very NegativeBalance Sheet
15Very NegativeCash Flow
14Very Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Mar 2024 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 99.74M | 106.62M | 184.34M | 181.61M | 151.36M | 295.80M |
| Gross Profit | -55.07M | -50.27M | -25.51M | -37.18M | -22.38M | -6.94M |
| EBITDA | -84.01M | -73.94M | -52.38M | -80.72M | -45.74M | -40.12M |
| Net Income | -84.37M | -92.92M | -142.53M | -169.34M | -124.30M | -119.86M |
Balance Sheet | ||||||
| Total Assets | 1.81B | 1.80B | 1.80B | 1.77B | 1.29B | 1.35B |
| Cash, Cash Equivalents and Short-Term Investments | 62.63M | 52.88M | 26.05M | 104.06M | 81.67M | 202.41M |
| Total Debt | 1.39B | 1.34B | 1.22B | 1.12B | 919.63M | 822.93M |
| Total Liabilities | 1.44B | 1.38B | 1.27B | 1.20B | 990.80M | 906.22M |
| Stockholders Equity | 368.90M | 425.78M | 518.70M | 558.93M | 296.08M | 434.83M |
Cash Flow | ||||||
| Free Cash Flow | -82.45M | -82.53M | -180.07M | -201.36M | -150.10M | -70.53M |
| Operating Cash Flow | -64.94M | -63.64M | -97.43M | -57.27M | -69.85M | -22.23M |
| Investing Cash Flow | -36.42M | -13.47M | -86.27M | -99.08M | -70.93M | -32.17M |
| Financing Cash Flow | 132.62M | 115.70M | 103.96M | 177.11M | 45.53M | 98.06M |
EFUN Technology Co., Ltd. Peers Comparison
Overall Rating
TW:616449Neutral
TW:312848Neutral
TW:362345Neutral
TW:497242Neutral- TW:352340Underperform
Financial Indicators
| 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:6164 | 49Neutral | TWD 790.93M | 42.56 | ― | 4.55% | -10.87% | 115.91% |
| TW:3128 | 48Neutral | TWD 900.31M | 15.54 | ― | 2.23% | -12.58% | -22.95% |
| TW:3623 | 45Neutral | TWD 634.79M | 23.11 | ― | ― | -0.21% | ― |
| TW:4972 | 42Neutral | TWD 769.90M | -7.68 | ― | ― | -1.01% | -31.92% |
| TW:3523 | 40Underperform | TWD 761.46M | -9.09 | ― | ― | 7.16% | 43.29% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:3523 | EFUN Technology Co., Ltd. | 11.85 | -6.15 | -34.17% | |
| TW:2255 | Jet Optoelectronics Co., Ltd. | 11.60 | -15.25 | -56.80% | |
| TW:3128 | Hi Sharp Electronics Co., Ltd. | 17.95 | -8.19 | -31.33% | |
| TW:3623 | Transtouch Technology Inc. | 21.75 | 1.30 | 6.36% | |
| TW:4972 | Tons Lightology Inc. | 13.90 | -4.15 | -22.99% | |
| TW:6164 | Ledtech Electronics Corp. | 11.00 | 0.80 | 7.84% |
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