FEAF
TWSE

2338 光罩

38.60 ▲ 1.10 (2.93%) Close · 2026-11-13 · TWSE
Ask about 2338
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

Mixed picture: 1 strengths against 3 watch-outs. Weigh them against your own goals.

Points to watch for a moderate profile: see the items marked above.

In plain words

For stock 2338, revenue fell -20.1% in 2025 and -4.8% year on year in Q2 2026, alongside weak profitability with a return on equity of -5.4% and a -5.7% net margin. Liabilities reached 65.9% of total assets in Q2 2026, showing a heavy debt load despite a positive free cash flow of 1,054 NT$ million in 2025. Overall, the analysis presents a mixed picture with 1 strength against 3 watch-outs, and there are no processed filings for this stock yet. Ultimately, all 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

+ Free cash flow was positive in 2025: 1,054 NT$ million. source (Financials) →

Watch-outs

! Revenue fell -20.1% in 2025; latest quarter Q2 2026: -4.8% year on year. source (Financials) →
! Return on equity -5.4% with a -5.7% net margin: weak profitability. source (Key Stats) →
! Liabilities are 65.9% of total assets (Q2 2026): a heavy debt load. source (Financials) →

What to check before deciding

?Is the revenue decline temporary or structural?
?What would lift profitability, and how soon?
?Can operating cash cover the debt if conditions tighten?

What the analysis found

! Growth Revenue fell -20.1% in 2025; latest quarter Q2 2026: -4.8% year on year. source →
! Profitability Return on equity -5.4% with a -5.7% net margin: weak profitability. source →
! Debt Liabilities are 65.9% of total assets (Q2 2026): a heavy debt load. source →
+ Cash flow Free cash flow was positive in 2025: 1,054 NT$ million. source →
· Filings No processed filings for this stock yet. source →