Concraft Holding Co., Ltd. (4943) AI Stock Analysis

Concraft Holding Co., Ltd.

(TWSE:4943)

Select Model

Rating:40Underperform

Price Target:TWD 6.00▼(-2.76% Downside)

Action:initiatedcoverage

Date:11/09/26

Concraft scores near the bottom of the range, driven primarily by severely weak financials: negative gross margins, a widening net loss, nearly depleted shareholders' equity with debt-to-equity above 6x, and continued negative operating and free cash flow. Technicals reinforce the caution, with the price below all major moving averages and negative MACD momentum. Valuation provides no offset given negative earnings and the absence of a dividend. Partial positives — an ~11% revenue rebound and a substantially smaller cash burn than in 2022-2023 — suggest stabilization efforts are underway, but these remain early signals rather than evidence of a sustainable turnaround, leaving elevated solvency and dilution risk.

Positive Factors

Revenue ReboundThe 2025 revenue rebound indicates that demand or commercial activity recovered after two weaker years. Although growth has not yet translated into profits, renewed top-line momentum can provide a foundation for operating improvement if the company converts sales into positive margins.

Negative Factors

Structurally Negative MarginsPersistent negative gross and operating margins indicate that the company is not covering its underlying cost base through revenue. Without a durable improvement in pricing, mix, or costs, additional sales may continue to generate losses rather than create sustainable earnings power.

Concraft Holding Co., Ltd. (4943) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 760.16M
Dividend Yield: ―
Average Volume (3M): 32.54K
Price to Earnings (P/E): -4.7
Beta (1Y): 0.05
Revenue Growth: 30.99%
EPS Growth: 50.23%
Country: TW
Employees: 1,883
Sector: General
Sector Strength: 55
Industry: Hardware, Equipment & Parts

Concraft Holding Co., Ltd. Business Overview & Revenue Model

Company Description

Established in 1991 and based in Taipei, Taiwan, Concraft Holding Co., Ltd. specializes in the engineering, production, and international sales of connectors under its CONCRAFT brand, serving markets throughout China, Taiwan, and globally. The compan...

Concraft Holding Co., Ltd. Financial Statement Overview

Summary

Fundamentals are very weak across all three statements. Revenue has fallen from roughly NT$4.3 billion in 2020 to about NT$1.7 billion in 2025 despite an ~11% rebound last year, and gross margin remains negative at about -8.4%, meaning the company still sells below production cost. Net loss widened to roughly NT$234 million and EBITDA swung back to negative NT$126 million. The balance sheet is highly stressed: equity has shrunk to just NT$193 million (about 6% of assets) while debt rose to NT$1.25 billion, lifting debt-to-equity to roughly 6.5x and pushing ROE to about -121%. Cash flow is still negative (operating cash flow -NT$69 million, free cash flow -NT$226 million), though the burn has narrowed meaningfully from prior years. The narrowing losses and renewed revenue growth are early positives, but solvency, refinancing, and dilution risks remain elevated.

Income Statement

7Very Negative

Balance Sheet

10Very Negative

Cash Flow

14Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Mar 2023	Dec 2021
Income Statement
Total Revenue	2.03B	1.69B	1.52B	1.68B	1.78B	3.27B
Gross Profit	-130.73M	-141.26M	-56.17M	-28.47M	-622.00M	-80.56M
EBITDA	-120.26M	-126.46M	148.27M	317.33M	-95.13M	-2.22B
Net Income	-167.63M	-233.76M	-145.22M	-248.09M	-1.29B	-3.89B
Balance Sheet
Total Assets	3.18B	3.04B	2.45B	2.78B	3.31B	5.59B
Cash, Cash Equivalents and Short-Term Investments	22.28M	103.21M	93.05M	203.22M	30.95M	96.24M
Total Debt	1.44B	1.25B	986.55M	975.97M	1.42B	2.18B
Total Liabilities	3.08B	2.75B	2.06B	2.62B	3.21B	4.28B
Stockholders Equity	42.06M	193.28M	330.11M	164.49M	104.38M	1.21B
Cash Flow
Free Cash Flow	-326.82M	-225.94M	-294.48M	-387.17M	-468.40M	135.53M
Operating Cash Flow	-188.18M	-68.76M	-221.09M	-316.58M	-91.66M	758.68M
Investing Cash Flow	-54.05M	-27.71M	73.06M	112.33M	981.35M	-288.75M
Financing Cash Flow	169.11M	106.43M	43.35M	419.52M	-835.71M	-556.87M

Concraft Holding Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:4943 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:3567	57Neutral	TWD 810.74M	22.18	―	4.12%	-0.78%	-10.78%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:6158	44Neutral	TWD 875.22M	-9.60	―	6.24%	-0.14%	-286.70%
TW:2314	43Neutral	TWD 803.61M	-1.02	―	―	22.52%	47.71%
TW:4943	40Underperform	TWD 780.34M	-4.70	―	―	30.99%	50.23%
TW:6109	38Underperform	TWD 800.09M	-10.86	―	―	19.88%	48.32%

* General Sector Average

Performance Comparison

TW:4943 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:4943	Concraft Holding Co., Ltd.	6.17	-8.83	-58.87%
TW:2314	Microelectronics Technology Inc.	6.66	-18.84	-73.88%
TW:3567	Etrend Hightech Corp.	24.25	-1.65	-6.37%
TW:6109	Atech OEM Inc.	8.96	-3.17	-26.12%
TW:6158	P-Two Industries Inc.	16.50	-5.85	-26.17%
TW:6818	Advanced Wireless & Antenna Inc.	33.50	-5.75	-14.65%

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

Concraft Holding Co., Ltd. AI Stock Analysis