Choice Development, Inc. (9929) AI Stock Analysis

Choice Development, Inc.

(TWSE:9929)

Select Model

Rating:54Neutral

Price Target:TWD 11.00▲(0.92% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is primarily constrained by continued net losses, stagnant revenue, meaningful leverage, and weakened technical momentum. Strong EBITDA generation, positive free cash flow, improved margins, and lower debt provide important support, resulting in a below-average but improving overall profile.

Positive Factors

Operating RecoveryA return to positive operating profit indicates that core operations have regained traction after the prior weak period. If maintained, this recovery can improve internal funding capacity, support reinvestment, and provide a more durable base for future earnings improvement.

Negative Factors

Persistent Net LossesContinued net losses weaken retained capital and reduce confidence that the recent operating recovery has translated into sustainable shareholder returns. The history of sizable losses also indicates that profitability remains vulnerable, requiring further execution before earnings quality can be considered dependable.

Choice Development, Inc. (9929) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 1.09B
Dividend Yield: ―
Average Volume (3M): 30.32K
Price to Earnings (P/E): 22.6
Beta (1Y): 0.23
Revenue Growth: 4.36%
EPS Growth: ―
Country: TW
Employees: 36,990
Sector: General
Sector Strength: 55
Industry: Specialty Business Services

Choice Development, Inc. Business Overview & Revenue Model

Company Description

Choice Development, Inc., doing business as Choice Printing Group, operates as a publication printer in Taiwan. It operates through the Printing, Advertising, Innovation, and Development segments. The company engages in printing; paper folding and bi...

Choice Development, Inc. Financial Statement Overview

Summary

Financial performance is mixed: EBITDA and free cash flow remain strong, margins improved, and debt declined, but revenue was broadly stable, net income remained negative, leverage is still meaningful, and free cash flow weakened.

Income Statement

48Neutral

Balance Sheet

58Neutral

Cash Flow

62Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	670.98M	650.08M	654.87M	701.31M	604.07M	591.37M
Gross Profit	139.70M	93.42M	66.44M	31.92M	95.58M	88.61M
EBITDA	216.38M	166.65M	160.90M	2.82M	-72.70M	51.94M
Net Income	49.61M	-6.92M	-13.86M	-105.61M	-82.83M	4.69M
Balance Sheet
Total Assets	1.78B	1.83B	2.00B	2.19B	1.42B	2.01B
Cash, Cash Equivalents and Short-Term Investments	391.40M	339.12M	377.22M	378.57M	382.56M	254.99M
Total Debt	714.69M	787.09M	881.17M	1.05B	295.01M	726.21M
Total Liabilities	891.60M	1.02B	1.15B	1.34B	491.30M	928.17M
Stockholders Equity	853.87M	781.08M	825.08M	813.45M	867.08M	995.84M
Cash Flow
Free Cash Flow	142.30M	147.90M	225.87M	46.43M	11.74M	-36.60M
Operating Cash Flow	198.59M	149.47M	229.32M	46.87M	18.63M	-31.34M
Investing Cash Flow	32.51M	-27.18M	-11.65M	210.87M	-12.27M	30.30M
Financing Cash Flow	-164.75M	-165.90M	-206.70M	-110.92M	-31.05M	-9.58M

Choice Development, Inc. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:9929 against its peers
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:9929	54Neutral	TWD 1.10B	22.60	―	―	4.36%	―
TW:6593	42Neutral	TWD 981.30M	-11.72	―	1.42%	-0.05%	-20.36%
TW:2230	40Underperform	TWD 1.29B	-8.86	―	3.20%	-4.47%	-514.66%
TW:8906	38Underperform	TWD 1.05B	-32.74	―	0.40%	-5.45%	-15.54%
TW:9928	34Underperform	TWD 1.16B	-11.31	―	―	7.48%	-0.52%

* General Sector Average

Performance Comparison

TW:9929 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:9929	Choice Development, Inc.	10.90	0.45	4.31%
TW:2230	C.T.I. Traffic Industries Co., Ltd.	19.75	-80.80	-80.36%
TW:6593	Taiwan Name Plate Co., Ltd.	31.85	-9.25	-22.51%
TW:6856	Shine Trend International Multimedia Technology Co Ltd	40.90	-11.41	-21.82%
TW:8906	Forward Graphic Enterprise Co., Ltd.	25.55	-3.75	-12.80%
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 10, 2026

Choice Development, Inc. AI Stock Analysis