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.
Your risk profile
Conclusion
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
For company 3691, revenue fell -8.5% in 2025, though Q3 2026 revenue reached 69.4% year on year. Profitability remains weak with a return on equity of 6.5% and a 4.0% net margin, while liabilities accounted for 48.5% of total assets in Q3 2026. Furthermore, free cash flow was negative at -831 NT$ million in 2025 as spending exceeded operating cash. Overall, the data presents several watch-outs with no clear strengths. Ultimately, all final investment decisions rest with the investor.
Written by gemini-3.6-flash from the facts above; every number was checked against them.Strengths
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Watch-outs
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Revenue fell -8.5% in 2025; latest quarter Q3 2026: 69.4% year on year. source (Financials) →
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Return on equity 6.5% with a 4.0% net margin: weak profitability. source (Key Stats) →
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Free cash flow was negative in 2025: -831 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
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Cash flow
Free cash flow was negative in 2025: -831 NT$ million, so spending exceeded operating cash. source →