Win Win Precision Technology Co., Ltd (4949) AI Stock Analysis

Win Win Precision Technology Co., Ltd

(TWSE:4949)

Select Model

Rating:59Neutral

Price Target:TWD 71.00▲(6.61% Upside)

Action:initiatedcoverage

Date:11/09/26

The score is anchored by solid fundamentals: a very conservatively financed balance sheet with minimal debt, a restored profit position with record gross margins, and positive free cash flow. Offsetting this are weak technicals, with the stock trading below all major moving averages and a negative MACD signalling a persistent downtrend, though oversold RSI and Stochastic readings suggest selling pressure may be stretched. Valuation at 18.1x earnings is fair rather than compelling, with a modest 2.07% dividend yield providing some support. The main risks to monitor are stagnant revenue well below the 2022 peak, a sharp drop in free cash flow, and sub-par returns on equity in a cyclical industry.

Positive Factors

2025 Profitability ReboundThe return to positive earnings and improved gross, EBITDA, and net margins indicates meaningful operating recovery after the 2024 loss. If these margins hold, stronger profitability can improve internal funding capacity and provide a more durable base for reinvestment and growth.

Negative Factors

Revenue VolatilityRepeated revenue declines across recent years show that demand has not been consistently stable, even though growth resumed in 2025. This volatility makes future earnings harder to predict, can disrupt operating leverage, and weakens confidence that the latest profitability improvement will persist.

Win Win Precision Technology Co., Ltd (4949) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 4.52B
Dividend Yield: 2.10%
Average Volume (3M): 994.50K
Price to Earnings (P/E): 17.8
Beta (1Y): 0.76
Revenue Growth: 45.18%
EPS Growth: 122.01%
Country: TW
Employees: 367
Sector: General
Sector Strength: 55
Industry: Solar

Win Win Precision Technology Co., Ltd Business Overview & Revenue Model

Company Description

Win Win Precision Technology Co., Ltd., along with its affiliated entities, specializes in the production and global distribution of solar photovoltaic modules and semiconductor components. The company maintains a market presence across Taiwan, Europ...

Win Win Precision Technology Co., Ltd Financial Statement Overview

Summary

Win Win Precision returned to profitability with record gross margins of 36.2% and a swing from a NT$90.3 million net loss to NT$128.3 million net profit (Income Statement: 64). The balance sheet is the clear strength, with debt-to-equity of just 6.3% and equity funding about 73% of assets, offering a solid cushion through solar down cycles (Balance Sheet: 79). Cash flow remains positive, with operating cash flow at 1.1x net income and free cash flow of NT$99.7 million, but free cash flow fell roughly 64% year over year and the multi-year record is choppy (Cash Flow: 60). Key concerns are flat revenue that sits about 57% below the 2022 peak and a 7.7% return on equity well below prior cycle highs.

Income Statement

64Positive

Balance Sheet

79Positive

Cash Flow

60Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.90B	2.40B	2.41B	4.50B	5.60B	3.13B
Gross Profit	1.12B	868.22M	612.04M	1.02B	1.58B	830.12M
EBITDA	392.39M	253.32M	-37.47M	333.44M	682.69M	107.79M
Net Income	257.91M	128.33M	-90.25M	194.30M	512.61M	52.08M
Balance Sheet
Total Assets	2.80B	2.28B	1.98B	2.31B	2.87B	1.56B
Cash, Cash Equivalents and Short-Term Investments	763.69M	871.90M	858.39M	643.58M	730.62M	388.42M
Total Debt	259.01M	105.35M	78.02M	224.38M	87.62M	282.06M
Total Liabilities	1.04B	620.20M	429.97M	705.61M	1.33B	760.74M
Stockholders Equity	1.76B	1.66B	1.55B	1.61B	1.54B	803.34M
Cash Flow
Free Cash Flow	-234.84M	99.71M	361.26M	-41.12M	390.97M	168.01M
Operating Cash Flow	-172.57M	142.22M	375.35M	-27.32M	441.97M	214.96M
Investing Cash Flow	-78.57M	-41.67M	-11.30M	-31.69M	-54.88M	32.20M
Financing Cash Flow	32.47M	-81.81M	-147.93M	-30.39M	-51.85M	-105.93M

Win Win Precision Technology Co., Ltd Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:4949 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:4572	63Neutral	TWD 4.64B	20.38	―	4.24%	3.72%	57.19%
TW:6983	63Neutral	TWD 4.34B	56.94	―	2.07%	―	―
TW:3310	62Neutral	TWD 4.74B	17.31	―	5.39%	19.95%	5.00%
TW:6859	61Neutral	TWD 4.28B	52.29	―	1.89%	-30.46%	-30.77%
TW:4942	59Neutral	TWD 4.27B	10.09	―	6.73%	2.44%	13.09%
TW:4949	59Neutral	TWD 4.88B	17.80	―	2.10%	45.18%	122.01%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

TW:4949 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:4949	Win Win Precision Technology Co., Ltd	66.60	28.40	74.34%
TW:3310	Chialin Precision Industrial Co., Ltd.	64.90	4.67	7.75%
TW:4572	Drewloong Precision, Inc.	118.00	-22.75	-16.16%
TW:4942	Chia Chang Co., Ltd	29.70	-8.50	-22.24%
TW:6859	Best Precision Industrial Co.,Ltd.	106.00	8.09	8.26%
TW:6983	HUA YANG Precision Machinery Co., Ltd.	241.00	113.78	89.43%

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

Win Win Precision Technology Co., Ltd AI Stock Analysis