Topco enjoys brisk silicone order visibility

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Julian Ho, Taipei; Willis Ke, DIGITIMES

Friday 5 November 2021

Topco Scientific
Performance

The company's stock price closed at NT$164.5 on the TSE on Monday, May 23, 2022.

The company has reported consolidated revenues of NT$4,051 million for April 2022, representing a 11% drop on month and 7.9% increase on year.

For the fourth quarter of 2021, the company totaled NT$11,766 million in consolidated revenues, up 7.1% sequentially and up 31.6% on year.

Brief

Full name: Topco Scientific
Chinese name: 崇越科技股份有限公司
Short name: Topco
Stock code: 5434
Tax ID: 23621614
Market: TSE
Established: 17 Feb 1990
Paid in capital: NT$1.82 billion
Listed on TSE: 25 Aug 2003
Listed on OTC: 24 May 2000
Website: www.topco.com.tw
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Latest stock

Topco [5434] historical stock price (NT$)
Date	Volume (k)	Transactions	Value	Open	High	Low	Close	Change		Ask	Bid
25-May	136	177	22,241,207	163.00	164.00	162.00	163.00	+0.00	+0.00%	162.50	163.00
23-May	115	148	19,037,972	166.50	166.50	164.00	164.50	-1.00	-0.60%	164.50	165.00
20-May	141	197	23,359,825	166.00	167.00	165.00	165.50	+1.00	+0.61%	165.00	166.00
19-May	114	682	18,708,125	163.50	165.00	162.00	164.50	-1.50	-0.90%	164.00	164.50
18-May	152	496	25,260,764	166.50	166.50	165.00	166.00	+0.50	+0.30%	165.50	166.00
17-May	243	231	39,946,000	161.00	165.50	160.00	165.50	+3.50	+2.16%	165.00	165.50

Latest sales

Topco: Consolidated revenues, Apr 2021 - Apr 2022 (NT$m)
Month	Sales	M/M	Y/Y	YTD	Y/Y
Apr-22	4,051	(11%)	7.9%	16,633	25.2%
Mar-22	4,551	26.8%	32.9%	12,579	32%
Feb-22	3,590	(19.1%)	21.3%	8,028	31.4%
Jan-22	4,438	3.8%	41%	4,438	41%
Dec-21	4,274	13.5%	33.5%	42,669	18%
Nov-21	3,764	1%	30.2%	38,395	16.5%
Oct-21	3,728	0.1%	31.1%	34,631	15.2%
Sep-21	3,723	2%	17.6%	30,903	13.5%
Aug-21	3,651	1%	24%	27,180	13%
Jul-21	3,615	3.7%	22.2%	23,529	11.4%
Jun-21	3,488	11.2%	12.5%	19,914	9.7%
May-21	3,138	(16.5%)	9.7%	16,427	9.1%
Apr-21	3,756	9.7%	10.1%	13,289	8.9%

*Figures are consolidated
Source: TSE, compiled by Digitimes, May 2022

Topco: Consolidated revenues, 4Q20 - 4Q21 (NT$m)
Quarter	Sales	Q/Q	Y/Y	YTD	Y/Y
4Q-21	11,766	7.1%	31.6%	42,669	18%
3Q-21	10,989	5.9%	21.2%	30,903	13.5%
2Q-21	10,381	8.9%	10.8%	19,914	9.7%
1Q-21	9,533	6.7%	8.5%	9,533	8.5%
4Q-20	8,939	(1.4%)	1.4%	36,168	14.1%

*Figures are consolidated
Source: TSE, compiled by Digitimes, May 2022

Latest balance sheet and income statement

Topco: Consolidated balance sheet, 4Q20 - 4Q21 (NT$k)
Item	4Q-2021	3Q-2021	2Q-2021	1Q-2021	4Q-2020
Current assets	16,897,367	16,317,731	15,076,053	14,417,241	14,434,470
Intangible assets	516,011				52,223
Non-current assets	8,277,076	7,700,019	7,208,953	6,995,647	7,017,245
Assets	25,174,443	24,017,750	22,285,006	21,412,888	21,451,715
Current liabilities	11,510,093	11,365,748	10,636,345	10,441,584	9,442,241
Non-current liabilities	1,785,702	1,700,173	1,470,052	1,360,718	1,421,160
Liabilities	13,295,795	13,065,921	12,106,397	11,802,302	10,863,401
Stockholders' equity	11,878,648	10,951,829	10,178,609	9,610,586	10,588,314

*Figures are consolidated
Source: TSE, compiled by Digitimes, May 2022

Topco: Consolidated income statement, 4Q20 - 4Q21 (NT$k)
Item	4Q-2021		3Q-2021		2Q-2021		1Q-2021		4Q-2020
Item	NT$k	% of sales	NT$k	% of sales	NT$k	% of sales	NT$k	% of sales	NT$k	% of sales
Gross sales	10,005,766		9,739,009		9,201,752		8,538,750		7,669,277
Operating revenue	11,766,160	117.6%	10,988,763	112.8%	10,381,154	112.8%	9,532,889	111.6%	8,938,602	116.6%
Gross profit (loss) from operations	1,498,856	15%	1,338,868	13.7%	1,276,802	13.9%	1,097,678	12.9%	1,094,556	14.3%
Operating expenses	768,110	7.7%	684,299	7%	616,379	6.7%	591,791	6.9%	566,459	7.4%
Operating income (loss)	730,819	7.3%	654,642	6.7%	660,496	7.2%	505,960	5.9%	528,170	6.9%
Non-operating expenses and losses	135,682	1.4%	120,698	1.2%	121,083	1.3%	110,469	1.3%	168,839	2.2%
Income from continuing operations before income tax	866,501	8.7%	775,340	8%	781,579	8.5%	616,429	7.2%	697,009	9.1%
Net income (loss)	632,905	6.3%	602,343	6.2%	611,422	6.6%	454,290	5.3%	547,582	7.1%
Diluted earnings per share (NT$)	3.5		3.2		3.4		2.5		3