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Koan Hao Technology Co., Ltd. (8354) AI Stock Analysis

TW:8354

Koan Hao Technology Co., Ltd.

(TPEx:8354)

Select Model
Rating:43Neutral
Price Target:TWD 15.50▼(-5.49% Downside)
Action:initiatedcoverage
Date:11/09/26

The score is held back primarily by weak financial performance: stagnant revenue, sharply compressed margins, a near break-even core operation, and net income and operating cash flow both down more than 80%, leaving return on equity close to zero against a sizeable NT$1.9 billion debt load. Technicals add to the caution, with the price below all key moving averages and a negative MACD. The main offset is valuation — a P/E near 6 plus a small dividend — along with a balance sheet where equity exceeds debt and leverage has steadily improved. Until margins and operating profitability recover, the risk-reward remains below average.

Positive Factors
Positive Free Cash FlowPositive operating and free cash flow provide internal funding for operations and investment, while free cash flow equal to about 73% of net income supports earnings quality. This cash generation offers some resilience over the next several quarters despite uneven historical results.
Negative Factors
Margin CompressionThe multi-year decline in gross margin shows that profitability has weakened beyond a single reporting period. Lower gross profit leaves less room to absorb operating costs, making earnings more vulnerable and reducing the company’s ability to convert stable revenue into durable returns.

Koan Hao Technology Co., Ltd. (8354) vs. SPDR S&P 500 ETF (SPY)

-10%-5%0%5%10%15%20%25%TW:8354+6.55%SPY+14.28%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 1.27B
Dividend Yield
0.67%
Average Volume (3M)
74.56K
Price to Earnings (P/E)
6.0
Beta (1Y)
0.30
Revenue Growth
1.45%
EPS Growth
―
Country
TW
Employees
80
Sector
General
Sector Strength
55
Industry
Chemicals - Specialty

Koan Hao Technology Co., Ltd. Business Overview & Revenue Model

Company Description

Koan Hao Technology Co., Ltd. is a global manufacturer and processor, specializing in a diverse array of trademark paper, tapes, and related products across Taiwan, Vietnam, China, and other international markets. Its product portfolio encompasses va...

Koan Hao Technology Co., Ltd. Financial Statement Overview

Summary

Weak overall: the income statement (28) shows flat revenue near NT$644 million, gross margin compression from ~23.8% to 11.1%, an operating loss of about NT$3 million, and net income collapsing from ~NT$124 million to ~NT$11 million, leaving profits reliant on non-operating items. Cash flow (35) deteriorated sharply, with operating cash flow falling to ~NT$39 million from ~NT$196 million and free cash flow to ~NT$29 million, covering only ~2% of total debt. The balance sheet (48) is the relative strength — equity of ~NT$2.08 billion slightly exceeds ~NT$1.89 billion of debt and leverage has improved for three straight years — but return on equity has fallen to roughly 0.5%, indicating very weak earnings power on a heavy asset base.

Income Statement

28Negative

Balance Sheet

48Neutral

Cash Flow

35Negative
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue659.41M644.12M640.10M614.42M677.24M759.10M
Gross Profit93.67M71.38M85.06M74.06M91.79M133.29M
EBITDA163.06M73.50M278.58M194.71M203.59M340.98M
Net Income212.81M10.63M123.84M61.74M79.72M240.17M
Balance Sheet
Total Assets4.32B4.18B4.37B4.40B4.34B3.43B
Cash, Cash Equivalents and Short-Term Investments1.04B857.33M2.04B852.68M1.87B825.50M
Total Debt1.93B1.89B2.03B2.18B2.18B1.30B
Total Liabilities2.13B2.10B2.23B2.39B2.37B1.52B
Stockholders Equity2.19B2.08B2.14B2.01B1.96B1.91B
Cash Flow
Free Cash Flow148.96M28.62M182.01M117.45M160.67M-49.06M
Operating Cash Flow170.50M39.36M195.75M121.41M163.48M-21.55M
Investing Cash Flow-259.53M-159.76M-87.22M-205.14M-831.20M143.93M
Financing Cash Flow34.72M-190.01M-169.65M-34.76M820.86M-217.67M

Koan Hao Technology Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:8354 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TW:4999TW:499944NeutralTWD 1.17B-8.83―1.62%-13.56%-165.86%
TW:8354TW:835443NeutralTWD 1.28B5.98―0.67%1.45%―
TW:3520TW:352041NeutralTWD 1.39B-127.54―0.60%4.44%-32.75%
TW:3322TW:332240UnderperformTWD 1.21B-6.33――1.02%-135.75%
TW:3511TW:351138UnderperformTWD 1.33B-18.91――-6.72%-11.85%
TW:3710TW:371030UnderperformTWD 1.35B-1.51――-1.88%-7106.53%

* General Sector Average

Performance Comparison

-40%-20%0%20%40%TW:8354TW:3322TW:3511TW:3520TW:3710TW:4999Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:8354 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:8354Koan Hao Technology Co., Ltd.16.400.966.21%
TW:3322Joinsoon Electronics Manufacturing Co., Ltd.8.38-4.41-34.46%
TW:3511Simula Technology, Inc.16.60-3.45-17.21%
TW:3520Jhen Vei Electronic Co., Ltd.16.20-2.60-13.83%
TW:3710ACON Holding Inc.7.32-5.80-44.22%
TW:4999Sinher Technology Inc.15.45-9.29-37.54%
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