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FOSITEK vs Forth: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

FOSITEK CORP (6805.TW)

Forth Corporation Public Company Limited (FORTH.BK)

Q3 2026
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Forth Q2 Profit Surges 92% on EMS Recovery, But Dilution and Stake Sale Loom

  • Q2 Profit Surge and Dividend Forth's Q2 2026 profit jumped 92% to 234 million baht, driven by a recovery in its electronics manufacturing business. The company also declared a 0.15 baht dividend, rewarding shareholders.

    This is the main positive earnings news that likely boosted investor confidence.

  • Strong Backlog and Analyst Optimism Forth's systems-integration backlog reached 5.2 billion baht, with analysts rating it a buy and a 21.30 baht target, citing government smart-grid, smart-meter, solar, and police-radio projects as future revenue drivers.

    This highlights future revenue visibility and positive analyst sentiment.

  • Dilution from New Share Issue Forth plans to issue up to 27.13 million new shares, raising 350–456 million baht. This will dilute existing shareholders' ownership and earnings per share.

    This is a key negative factor that could pressure the stock price.

  • Loss of Control in Maew Som Forth is cutting its stake in Maew Som from 91% to 9%, surrendering control and future profit from that venture. This may reduce long-term earnings potential.

    This strategic move could negatively impact future profitability.

August 2026
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Forth Q2 Profit Surges 92% on EMS Recovery, But Dilution and Stake Sale Loom

  • Q2 Profit Surge and Dividend Forth's Q2 2026 profit jumped 92% to 234 million baht, driven by a recovery in its electronics manufacturing business. The company also declared a 0.15 baht dividend, rewarding shareholders.

    This is the main positive earnings news that likely boosted investor confidence.

  • Strong Backlog and Analyst Optimism Forth's systems-integration backlog reached 5.2 billion baht, with analysts rating it a buy and a 21.30 baht target, citing government smart-grid, smart-meter, solar, and police-radio projects as future revenue drivers.

    This highlights future revenue visibility and positive analyst sentiment.

  • Dilution from New Share Issue Forth plans to issue up to 27.13 million new shares, raising 350–456 million baht. This will dilute existing shareholders' ownership and earnings per share.

    This is a key negative factor that could pressure the stock price.

  • Loss of Control in Maew Som Forth is cutting its stake in Maew Som from 91% to 9%, surrendering control and future profit from that venture. This may reduce long-term earnings potential.

    This strategic move could negatively impact future profitability.

Latest
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FORTH's growth pipeline builds, but new share sale dilutes holders

  • New orders and government budgets feed the pipeline FORTH expects to sign a police radio project worth 800-900 million baht and an electronic bracelet deal, plus over 800 million baht of smart meter revenue by year-end. The Cabinet's 70-billion-baht solar, smart grid and smart meter plan also names FORTH as a winner. More signed work means more future revenue.

    New contract and budget news directly adds to FORTH's future revenue pipeline, the core growth story.

  • New share issue dilutes existing holders FORTH will sell up to 27.13 million new shares to existing shareholders at 12.90-16.80 baht to raise 350-456 million baht for an aircraft maintenance centre. Issuing new shares means current holders own a smaller slice of the company, which typically weighs on the share price.

    This is the period's main negative price driver and a fresh capital action not previously reported.

  • FORTH sells down its Maew Som stake FORTH is transferring Maew Som Estate shares to FSMART, cutting its holding from 91% to 9%. FORTH gives up control and future profit from that venture, though it may receive cash from the sale. Losing a consolidated business can reduce earnings and investor confidence.

    A structural ownership change that reduces FORTH's stake in a joint venture, affecting future earnings.

  • Analyst buy call and profit rebound support sentiment Yuanta rates FORTH a buy with a 21.30 baht target, expecting Q2 profit to jump 142% on revenue recognition from a large backlog. A swing back to profit in late 2024 also drew investor interest. Strong analyst backing and earnings recovery help lift the shares.

    Analyst coverage and profit recovery are key sentiment drivers for the stock price.

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FORTH profit surges on EMS recovery and smart-grid demand

  • Q2 profit jumps 92%, dividend paid FORTH's second-quarter 2026 net profit rose 92% to 234 million baht, helped by a 51% jump in electronics (EMS) revenue, and the board paid an interim dividend of 0.15 baht per share. Stronger earnings and cash returned to shareholders support the share price.

    This is the core new earnings event that re-rates the stock.

  • Big order backlog points to future revenue Yuanta keeps a buy rating and 21.30 baht target, noting the systems-integration backlog hit 5.2 billion baht, well above the normal 2-3 billion. A large backlog means work already signed will turn into revenue later, supporting profit growth.

    Backlog and broker target explain the forward earnings case behind the price.

  • Smart-grid budget names FORTH as winner The government plans a 10-20 billion baht first-phase smart-grid investment, and analysts name FORTH among beneficiaries in demand response and EV integration. New public spending on power networks could bring FORTH fresh project orders, lifting future revenue.

    New government spending is a fresh demand driver for FORTH's businesses.

  • Some segments still weak, revenue delayed Enterprise Solution revenue fell 14% and Smart Service 5%, and some new project revenue recognition was delayed, making Q2 profit 21% below Yuanta's estimate. EMS margin also slipped. So the strong headline growth hides uneven segment performance.

    It is the real counterweight: not all businesses are growing as fast as the headline.