China Times Co Ltd (8923) AI Stock Analysis

China Times Co Ltd

(TPEx:8923)

Select Model

Rating:69Neutral

Price Target:TWD 19.50▲(6.85% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is supported primarily by a strong balance sheet and improved cash generation, while declining revenue and operating margins remain concerns. Weak technical momentum weighs materially on the result, and the attractive dividend yield only partly offsets the moderate P/E valuation.

Positive Factors

Conservative balance sheetLow leverage and a stable equity base provide financial resilience and reduce pressure from debt obligations. This gives the company more flexibility to sustain operations, absorb business variability, and allocate capital without relying heavily on additional borrowing.

Negative Factors

Inconsistent revenue trendAn uneven revenue trajectory limits visibility into sustained demand and makes it harder to build dependable operating leverage. The 2025 decline indicates that the company has not yet established consistent top-line growth, which can constrain earnings expansion.

China Times Co Ltd (8923) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 554.36M
Dividend Yield: 4.93%
Average Volume (3M): 11.00K
Price to Earnings (P/E): 22.8
Beta (1Y): -0.10
Revenue Growth: -1.19%
EPS Growth: -15.40%
Country: TW
Employees: 120
Sector: General
Sector Strength: 55
Industry: Publishing

China Times Co Ltd Business Overview & Revenue Model

Company Description

China Times Publishing Company specializes in the creation and global distribution of Chinese-language books, serving both its domestic market in Taiwan and international readerships. Its comprehensive catalog features an incredibly diverse array of...

China Times Co Ltd Financial Statement Overview

Summary

Strong balance sheet and improved cash generation support the score, with low leverage, rising equity, and substantial free-cash-flow growth. Revenue and operating margins declined, limiting the overall financial score.

Income Statement

65Positive

Balance Sheet

88Very Positive

Cash Flow

82Very Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	445.53M	447.37M	435.67M	426.64M	468.81M	441.15M
Gross Profit	185.07M	199.11M	193.97M	193.55M	196.40M	185.99M
EBITDA	47.44M	60.42M	77.90M	73.95M	67.06M	72.18M
Net Income	24.43M	29.20M	28.38M	26.86M	34.41M	30.25M
Balance Sheet
Total Assets	920.36M	885.58M	890.49M	853.91M	879.96M	800.02M
Cash, Cash Equivalents and Short-Term Investments	274.93M	265.06M	240.25M	236.83M	254.33M	228.58M
Total Debt	69.71M	74.43M	85.50M	56.40M	82.63M	29.14M
Total Liabilities	477.23M	426.90M	436.04M	404.83M	427.54M	356.36M
Stockholders Equity	443.13M	458.68M	454.44M	449.08M	452.42M	443.67M
Cash Flow
Free Cash Flow	74.55M	108.15M	26.89M	16.49M	36.35M	57.49M
Operating Cash Flow	76.18M	109.83M	72.31M	62.75M	81.12M	89.30M
Investing Cash Flow	-54.35M	-54.89M	-41.68M	-72.42M	-37.65M	-19.70M
Financing Cash Flow	-32.82M	-36.89M	-30.88M	-56.61M	-28.64M	-37.20M

China Times Co Ltd Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:8923 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:8923	69Neutral	TWD 557.40M	22.81	―	4.93%	-1.19%	-15.40%
TW:5276	57Neutral	TWD 645.83M	15.80	―	4.80%	7.09%	45.13%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:4946	54Neutral	TWD 802.95M	40.35	―	―	34.01%	―
TW:6144	41Neutral	TWD 516.69M	-12950.00	―	―	-6.38%	―
TW:8450	40Underperform	TWD 736.30M	-4.67	―	―	25.50%	22.27%

* General Sector Average

Performance Comparison

TW:8923 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:8923	China Times Co Ltd	18.25	-1.23	-6.32%
TW:4946	Cayenne Entertainment Technology Co., Ltd.	89.00	-20.00	-18.35%
TW:5276	Da Hui Ltd.	16.65	2.71	19.41%
TW:6144	Deltamac (Taiwan) Co., Ltd.	13.25	-7.20	-35.21%
TW:6780	STUDY KING CO., LTD.	37.00	7.23	24.30%
TW:8450	Pili International Multimedia Co., Ltd.	14.35	-2.75	-16.08%

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

China Times Co Ltd AI Stock Analysis