Elite Material Co., Ltd. (2383.TW)

Its revenue more than doubled and earnings nearly tripled, yet the price dropped about 8% this past week.

What is going on right now?

The stock pulled back sharply over seven days, falling to 5,070. It now sits below where it traded on average over the last 20 and 50 days, though still well above its longer-term average near 4,113.

How is the business itself doing?

The company makes high-end copper clad laminates, the layered boards inside AI servers, 5G equipment, cars, and aerospace parts. Revenue grew roughly 110% and earnings jumped about 187%, with nearly half its shares held by large institutions.

What stands out?

It earned a 48% return on its own capital, which is unusually high. At the same time, it actually spent more cash than it brought in, to the tune of about NT$6 billion.

What comes next?

Its next earnings report is due October 28, and that will be the first look at whether the data-center spending wave is still flowing through to its order book.