CHC Resources Corporation (9930) AI Stock Analysis

CHC Resources Corporation

(TWSE:9930)

Select Model

Rating:69Neutral

Price Target:TWD 63.00▲(9.76% Upside)

Action:initiatedcoverage

Date:11/09/26

CHC Resources earns a moderately above-average score, driven primarily by sound fundamentals: multi-year revenue growth, a materially de-leveraged balance sheet (D/E of 0.42), mid-to-high teens ROE and consistently positive free cash flow. Valuation adds further support, with a 13.3x P/E, a 6.9% dividend yield and very low beta making it a defensive income candidate. The main drag is technical: the stock sits below all key moving averages with negative MACD, signalling a persistent downtrend, though oversold RSI and Stochastic readings suggest the selling may be stretched. Investors should also watch the recent TTM softening in revenue, margins and free cash flow, which hints at cyclical or cost pressure.

Positive Factors

Improved Balance SheetThe substantial reduction in debt-to-equity indicates stronger balance-sheet discipline and greater financial flexibility than several years ago. With equity of about 6.46B exceeding debt of roughly 2.73B, the company appears better positioned to fund operations and manage cyclical pressure.

Negative Factors

Margin CompressionLower gross and net margins show that recent profitability has weakened, reducing the earnings produced from each unit of revenue. If this pressure persists, it could limit operating leverage, reduce reinvestment capacity, and offset some of the company’s longer-term earnings progress.

CHC Resources Corporation (9930) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 14.47B
Dividend Yield: 6.97%
Average Volume (3M): 120.44K
Price to Earnings (P/E): 13.3
Beta (1Y): 0.14
Revenue Growth: -2.13%
EPS Growth: -14.04%
Country: TW
Employees: 8,430
Sector: General
Sector Strength: 55
Industry: Construction Materials

CHC Resources Corporation Business Overview & Revenue Model

Company Description

CHC Resources Corporation, together with its subsidiaries, produces, processes, and sells construction materials in Taiwan and internationally. It operates through Blast-Furnace Slag Cement Division, Resource Reutilization Division, and Others segmen...

CHC Resources Corporation Financial Statement Overview

Summary

CHC Resources shows a solid financial profile. Revenue grew consistently from NT$10.8bn in 2021 to NT$14.0bn in 2025, with gross margin widening to 14.7% and net income reaching NT$1.23bn. The balance sheet is the standout strength (score 78): debt was cut from NT$5.06bn to NT$2.73bn, debt-to-equity fell from 0.88 to 0.42, and ROE improved to 18.7% in 2025 (16.4% TTM). Cash flow is dependable (score 71), with TTM operating cash flow of NT$1.92bn and free cash flow of NT$1.21bn backed by good earnings-to-cash conversion. The offset is recent softness: TTM revenue dipped slightly below the 2025 full year, margins pulled back (net 7.8%), net income fell ~13%, and free cash flow has declined for two consecutive periods as capex rises — suggesting cyclical pressure worth monitoring.

Income Statement

72Positive

Balance Sheet

78Positive

Cash Flow

71Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	13.72B	13.99B	13.29B	12.39B	11.38B	10.77B
Gross Profit	1.89B	2.06B	2.00B	1.56B	1.37B	1.36B
EBITDA	2.18B	2.44B	2.43B	2.08B	1.90B	1.79B
Net Income	1.07B	1.23B	1.16B	839.55M	755.40M	710.21M
Balance Sheet
Total Assets	11.31B	11.50B	11.80B	12.27B	12.27B	13.13B
Cash, Cash Equivalents and Short-Term Investments	781.93M	720.95M	794.74M	697.25M	605.97M	780.29M
Total Debt	2.73B	2.60B	3.04B	3.80B	4.15B	5.06B
Total Liabilities	4.61B	4.67B	5.15B	5.99B	6.15B	7.14B
Stockholders Equity	6.46B	6.59B	6.41B	6.06B	5.90B	5.76B
Cash Flow
Free Cash Flow	1.21B	1.49B	1.79B	1.35B	1.66B	1.31B
Operating Cash Flow	1.92B	1.93B	2.15B	1.58B	1.96B	1.87B
Investing Cash Flow	-785.25M	-479.92M	-321.18M	-196.45M	-192.04M	-595.81M
Financing Cash Flow	-1.04B	-1.50B	-1.65B	-1.30B	-1.88B	-1.46B

CHC Resources Corporation Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:9930 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6581	76Outperform	TWD 12.07B	13.28	―	4.91%	5.53%	19.55%
TW:2010	73Outperform	TWD 14.96B	8.58	―	8.70%	1.76%	20.48%
TW:9930	69Neutral	TWD 14.27B	13.27	―	6.97%	-2.13%	-14.04%
TW:1723	63Neutral	TWD 16.23B	20.11	―	2.62%	7.82%	10.83%
TW:2031	58Neutral	TWD 14.26B	6.15	―	5.63%	1.16%	198.59%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2009	44Neutral	TWD 12.10B	33.24	―	1.18%	14.59%	476.02%

* General Sector Average

Performance Comparison

TW:9930 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:9930	CHC Resources Corporation	57.40	-9.08	-13.65%
TW:1723	China Steel Chemical Corporation	70.60	-7.51	-9.61%
TW:2009	First Copper Technology Co., Ltd.	34.00	-8.33	-19.69%
TW:2010	Chun Yuan Steel Industry Co., Ltd.	23.00	4.55	24.67%
TW:2031	Hsin Kuang Steel Co., Ltd.	44.40	8.58	23.96%
TW:6581	Taiwan Steel Union Co., Ltd.	108.00	4.18	4.03%

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

CHC Resources Corporation AI Stock Analysis