This is research, not a buy or sell recommendation. Robo-advice in Taiwan requires an FSC licence; FEAF analyses, explains and monitors, and the investor makes the decision. Judgement thresholds are working rules pending review by the team's finance members.
Plain-language summary of valuation, growth, profitability, balance sheet, and recent MOPS filings.
Several watch-outs (3) and no clear strengths in the data reviewed.
Points to watch for a moderate profile: see the items marked above.
In plain words
Stock code 3672 experienced a revenue decline of -20.4% in 2025 and a year-on-year drop of -7.0% in Q3 2026. Profitability remains weak with a return on equity of -29.0% and a net margin of -37.1%, while liabilities accounted for 47.8% of total assets in Q3 2026. Free cash flow was negative at -32 NT$ million in 2025, and 2 verified alerts were noted, including the latest on 2026-11-13 regarding the Q3 2026 financial report. Overall, the reviewed data points to several watch-outs and no clear strengths. Ultimately, final investment decisions rest entirely with the investor.
Written by gemini-3.6-flash from the facts above; every number was checked against them.
Strengths
——
Watch-outs
!Revenue fell -20.4% in 2025; latest quarter Q3 2026: -7.0% year on year. source (Financials) →
!Return on equity -29.0% with a -37.1% net margin: weak profitability. source (Key Stats) →
!Free cash flow was negative in 2025: -32 NT$ million, so spending exceeded operating cash. source (Financials) →
What to check before deciding
?Is the revenue decline temporary or structural?
?What would lift profitability, and how soon?
?What is the spending for, and when does it start paying back?
What the analysis found
!GrowthRevenue fell -20.4% in 2025; latest quarter Q3 2026: -7.0% year on year. source →
!ProfitabilityReturn on equity -29.0% with a -37.1% net margin: weak profitability. source →
·DebtLiabilities are 47.8% of total assets (Q3 2026). source →
!Cash flowFree cash flow was negative in 2025: -32 NT$ million, so spending exceeded operating cash. source →
·Filings2 verified alert(s); latest on 2026-11-13: 公告本公司董事會決議通過115年第三季合併財務報告 source →