China Television Co., Ltd. AI Stock Analysis
China Television Co., Ltd. (9928) AI Stock Analysis
China Television Co., Ltd.
(TWSE:9928)
China Television scores poorly, driven primarily by deteriorating financial performance: gross margin has collapsed to near breakeven, operating and net losses widened materially, and the company burned cash from operations for the first time in six years. The significantly strengthened balance sheet — equity up more than fivefold and leverage cut from over 5x to about 1x — is the main offsetting positive, but it is being eroded by ongoing losses against more than NT$2.2 billion of debt. Technicals reinforce the caution, with the stock trading below all major moving averages and a negative MACD indicating continued downside momentum. Valuation offers no support, as negative earnings produce a negative P/E and no dividend is paid. A re-rating would require evidence of margin restoration and a return to positive cash generation.
China Television Co., Ltd. (9928) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 1.15B
- Dividend Yield
- ―
- Average Volume (3M)
- 62.32K
- Price to Earnings (P/E)
- -11.3
- Beta (1Y)
- 0.14
- Revenue Growth
- 7.48%
- EPS Growth
- -0.52%
- Country
- TW
- Employees
- 491
- Sector
- General
- Sector Strength
- 55
- Industry
- Broadcasting
China Television Co., Ltd. Business Overview & Revenue Model
Company Description
China Television Company, Ltd. is a Taiwanese media entity primarily focused on television broadcasting. The company is responsible for producing and distributing a diverse range of television programs, catering to both domestic commercial audiences...
China Television Co., Ltd. Financial Statement Overview
Summary
Weak and deteriorating fundamentals dominate. Revenue is flat to lower at roughly NT$880 million, gross margin collapsed from about 12% to just 1.3%, and the company swung to an operating loss near NT$155 million (-17.6% margin) and a widened net loss of about NT$99 million — the fifth loss in six years. Cash flow also turned negative for the first time in the period, with operating cash flow of about -NT$58 million and free cash flow of about -NT$79 million, confirming these are genuine cash losses. The one clear offset is a transformed balance sheet: equity rose more than fivefold to roughly NT$2.15 billion and debt-to-equity fell from above 5x to about 1x, providing a meaningful cushion. However, with more than NT$2.2 billion of debt outstanding and return on equity at about -4.6%, continued losses will steadily erode that newly built capital base.
Income Statement
19Very NegativeBalance Sheet
53NeutralCash Flow
24Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 909.88M | 879.89M | 899.63M | 987.53M | 871.65M | 815.32M |
| Gross Profit | 815.00K | 11.62M | 109.70M | 120.45M | 118.35M | 64.97M |
| EBITDA | -53.22M | -88.20M | 78.68M | 99.63M | 115.50M | 100.99M |
| Net Income | -102.76M | -99.36M | -35.22M | -8.53M | 6.83M | -27.96M |
Balance Sheet | ||||||
| Total Assets | 5.27B | 5.37B | 5.38B | 3.63B | 3.61B | 3.66B |
| Cash, Cash Equivalents and Short-Term Investments | 114.81M | 137.87M | 185.45M | 140.13M | 138.57M | 134.07M |
| Total Debt | 1.49B | 2.25B | 2.17B | 2.36B | 2.38B | 2.40B |
| Total Liabilities | 3.19B | 3.23B | 3.14B | 3.19B | 3.19B | 3.23B |
| Stockholders Equity | 2.08B | 2.15B | 2.24B | 437.83M | 414.90M | 434.39M |
Cash Flow | ||||||
| Free Cash Flow | -75.10M | -79.10M | 81.73M | 38.20M | 57.68M | 58.59M |
| Operating Cash Flow | -60.38M | -58.02M | 98.51M | 46.91M | 77.63M | 69.58M |
| Investing Cash Flow | -17.30M | -22.44M | -17.99M | -9.97M | -20.21M | -8.40M |
| Financing Cash Flow | 34.60M | 33.85M | -35.94M | -34.76M | -53.19M | -55.51M |
China Television Co., Ltd. Peers Comparison
Overall Rating
TW:685663Neutral
TW:611843Neutral- TW:992834Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:6856 | 63Neutral | TWD 1.16B | 13.62 | ― | 7.32% | 0.20% | 32.59% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:6118 | 43Neutral | TWD 1.32B | 87.65 | ― | ― | 9.38% | -10.15% |
| TW:9928 | 34Underperform | TWD 1.16B | -11.31 | ― | ― | 7.48% | -0.52% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:9928 | China Television Co., Ltd. | 16.40 | -1.70 | -9.39% | |
| TW:4980 | Jorjin Technologies Inc. | 28.60 | 2.60 | 10.00% | |
| TW:6118 | Xander International Corp. | 14.55 | -5.50 | -27.43% | |
| TW:6856 | Shine Trend International Multimedia Technology Co Ltd | 41.00 | -11.31 | -21.63% | |
| TW:6995 | Beast Kingdom Co. Ltd. | 49.30 | -4.67 | -8.65% | |
| TW:7868 | Inforcom Technology Co., Ltd. | 55.00 | 22.78 | 70.70% |
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