Shine Trend International Multimedia Technology Co Ltd (6856) AI Stock Analysis

Shine Trend International Multimedia Technology Co Ltd

(TPEx:6856)

Select Model

Rating:63Neutral

Price Target:TWD 43.00▲(5.13% Upside)

Action:initiatedcoverage

Date:11/09/26

Shine Trend scores in the middle of the range. The financial foundation is solid — minimal leverage, a 73% equity cushion, doubling revenue and stable ~68% gross margins — but profitability is eroding fast, with operating margin down from roughly 40% to 12% and net income falling even as sales surged. A compelling valuation offsets some of this concern: a 13.7x P/E, a 7.5% dividend yield and very low beta make the stock attractive to income-focused investors, provided the payout holds. The main drag is technicals, with the share price below all major moving averages and negative MACD confirming a persistent downtrend. The investment case hinges on whether management can convert its larger revenue base back into expanding margins and cash flow.

Positive Factors

Strong Revenue GrowthRevenue growth above 60% in each of the last two reported years indicates strong demand and expanding commercial traction. If sustained, this top-line momentum can broaden the company’s operating base and support continued investment in multimedia products and integrated solutions.

Negative Factors

Margin CompressionThe sharp decline in net margin shows that strong revenue growth is translating into substantially less bottom-line profit. Continued compression could limit earnings growth, reduce the benefit of scale, and make future results more sensitive to operating-cost or business-mix changes.

Shine Trend International Multimedia Technology Co Ltd (6856) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 1.14B
Dividend Yield: 7.33%
Average Volume (3M): 8,545
Price to Earnings (P/E): 13.2
Beta (1Y): 0.06
Revenue Growth: 0.20%
EPS Growth: 32.59%
Country: TW
Employees: 149
Sector: General
Sector Strength: 55
Industry: Entertainment

Shine Trend International Multimedia Technology Co Ltd Business Overview & Revenue Model

Company Description

Founded in 1986 and headquartered in Taichung, Taiwan, SHINE TREND International Multimedia Technology CO., LTD. specializes in developing and airing news along with various other programs across Taiwan.

Shine Trend International Multimedia Technology Co Ltd Financial Statement Overview

Summary

A mixed picture of strong growth but deteriorating earnings quality. Revenue nearly doubled in two years to NT$764 million with gross margins holding firm near 68%, and the balance sheet is a standout strength — debt-to-equity of just 0.12 and a 73% equity cushion (Balance Sheet 79). However, the Income Statement (56) reflects a sharp profitability squeeze: operating margin fell from ~40% to 12% and net income declined to NT$74 million despite higher sales. Cash Flow (63) remains self-funding with free cash flow improving to NT$60 million, but operating cash flow dropped from NT$170 million to NT$94 million and short-term obligation coverage weakened to ~0.43x.

Income Statement

56Neutral

Balance Sheet

79Positive

Cash Flow

63Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Jun 2023	Dec 2021
Income Statement
Total Revenue	764.73M	763.53M	640.35M	396.19M	397.35M	371.05M
Gross Profit	503.63M	521.07M	433.63M	264.91M	279.54M	250.09M
EBITDA	176.49M	147.19M	184.56M	145.66M	163.82M	152.77M
Net Income	84.99M	73.91M	116.12M	101.38M	117.91M	108.28M
Balance Sheet
Total Assets	1.06B	1.05B	1.08B	885.52M	617.20M	557.13M
Cash, Cash Equivalents and Short-Term Investments	442.38M	430.43M	475.33M	734.63M	456.34M	422.62M
Total Debt	89.37M	89.33M	88.48M	7.42M	11.21M	9.31M
Total Liabilities	296.60M	238.76M	252.06M	100.88M	112.44M	90.81M
Stockholders Equity	717.76M	772.30M	786.12M	776.66M	493.03M	466.32M
Cash Flow
Free Cash Flow	65.29M	60.36M	48.13M	102.57M	135.68M	100.57M
Operating Cash Flow	87.77M	94.26M	170.39M	123.75M	142.34M	129.87M
Investing Cash Flow	-33.23M	-37.62M	-247.38M	-21.18M	-12.02M	53.72M
Financing Cash Flow	-92.58M	-113.79M	-182.39M	175.66M	-96.63M	-117.27M

Shine Trend International Multimedia Technology Co Ltd Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6856 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6856	63Neutral	TWD 1.15B	13.18	―	7.33%	0.20%	32.59%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:6140	48Neutral	TWD 1.31B	-55.48	―	―	-9.26%	-23.58%
TW:6674	46Neutral	TWD 1.26B	-5.35	―	―	-40.57%	-73.29%
TW:8068	40Underperform	TWD 1.26B	-81.23	―	―	46.43%	-113.09%
TW:3541	37Underperform	TWD 1.25B	70.10	―	―	0.16%	―
TW:9928	34Underperform	TWD 1.16B	-11.24	―	―	7.48%	-0.52%

* General Sector Average

Performance Comparison

TW:6856 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6856	Shine Trend International Multimedia Technology Co Ltd	40.90	-11.41	-21.82%
TW:3541	Cypress Technology Co. Ltd.	22.30	-1.45	-6.11%
TW:6140	Dimension Computer Technology Co., Ltd.	26.25	-3.70	-12.35%
TW:6674	Compal Broadband Networks, Inc.	18.45	-2.75	-12.97%
TW:8068	Chander Electronics Corp.	17.20	-2.70	-13.57%
TW:9928	China Television Co., Ltd.	16.30	-1.80	-9.94%

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

Shine Trend International Multimedia Technology Co Ltd AI Stock Analysis