If you remember one thing about Taiwanese corporate disclosure, make it this: every listed company must publish consolidated monthly revenue by the 10th of the following month, quarterly financial statements within 45 days of quarter-end for most non-financial issuers (banks, insurers and financial holding companies follow a modified schedule), and audited annual accounts within three months of year-end — all through one free portal, the Market Observation Post System (MOPS). No other major Asian market hands you a statutory, company-reported, exchange-hosted top-line number for every listed company, every single month. The catch is that much of it is reported cumulatively, so reading the figures correctly takes a little method.
The calendar’s gravitational pull was on display in early October 2026: with the October 10 monthly revenue deadline just two days away as of October 8, every listed company — from TSMC (2330) down to the smallest TPEx name — faced the statutory cut-off for publishing September sales, and traders’ attention turned to who had already filed and who had not. That burst of activity repeats twelve times a year, on schedule. This guide explains the mechanics so the calendar works for you rather than against you.
The statutory deadlines
Taiwan’s disclosure clock is set by the Securities and Exchange Act (Article 36 is the key provision) and enforced by the Financial Supervisory Commission (FSC), Taiwan’s market regulator. It applies to companies on both the Taiwan Stock Exchange (TWSE, the main board) and the Taipei Exchange (TPEx, the junior and over-the-counter board). The core schedule:
| Filing | Deadline | What you actually get |
|---|---|---|
| Monthly revenue | 10th of the following month | Consolidated net sales for the month, plus cumulative year-to-date, with year-on-year comparisons. Unaudited. |
| Q1 financial report | Within 45 days of quarter-end (mid-May) | Reviewed (not fully audited) consolidated statements. |
| Q2 financial report | Within 45 days of quarter-end (mid-August) | Reviewed statements; income statement shows both the quarter and the cumulative six months. |
| Q3 financial report | Within 45 days of quarter-end (mid-November) | Reviewed statements; nine-month cumulative figures alongside the quarter. |
| Annual financial report | Within 3 months of fiscal year-end (end-March for the standard December year-end) | Fully audited accounts. This is also where Q4 arrives — see below. |
Two practical caveats. First, financial-industry issuers — banks, insurers, financial holding companies — follow a modified schedule that generally allows more time for some reports, notably the semi-annual accounts; never assume the 45-day rule for a financial stock without checking MOPS. Second, the deadlines are ceilings, not targets: large exporters routinely file monthly revenue within the first few business days, and the most-watched names often report quarterly results weeks before the legal cut-off, paired with an investor conference.
Why the numbers are cumulative — and the missing Q4 report
Two features of the Taiwanese format trip up newcomers more than anything else.
- There is no standalone Q4 filing. The fourth quarter has no separate 45-day deadline; it arrives embedded in the audited annual financial report due by end-March. To get a clean Q4, subtract the nine-month cumulative figures (from the Q3 report) from the full-year numbers. Analysts who skip this step either double-count or quietly compare a full year against a quarter.
- Monthly revenue is published with a running total. Each filing shows the month, the cumulative year-to-date, and year-on-year changes for both. The cumulative column is the more reliable trend signal; the single-month column is noisy, especially around January–February, when the Lunar New Year holiday shifts between months and makes month-on-month comparisons close to meaningless. House rule: for Taiwanese monthly revenue, compare year-on-year, never month-on-month, unless you have explicitly adjusted for the holiday.
One more boundary worth drawing: monthly revenue is top-line only. It tells you nothing about margins, inventory, or one-off items, and it is unaudited. It is an early, frequent signal — not a substitute for the quarterly report that follows.
Finding the filings: how MOPS works
MOPS — the Market Observation Post System (Gōngkāi Zīxùn Guāncè Zhàn, literally the “public information observation post”) — is the single statutory disclosure venue, operated by the TWSE on behalf of the FSC and covering TWSE-listed, TPEx-listed and emerging-board companies alike. Everything with legal force lands here first: monthly revenue, financial reports, material-information announcements, investor-conference notices, shareholder-meeting documents.
For overseas readers, the practical entry point is the English interface at emops.twse.com.tw. A few navigation habits that save time:
- Search by the numeric ticker. Taiwanese stocks carry four-digit codes (2330 for TSMC, 2454 for MediaTek). Company-name searches in English are hit-and-miss; the code always works.
- Know the section names. Monthly revenue sits under the operating-revenue section; full financial statements are downloadable as PDFs, and summary financials appear in structured tables you can read without opening the PDF.
- Expect English coverage to vary. The FSC has in recent years phased in simultaneous English disclosure requirements for larger issuers, so major companies now publish English material information and financial summaries alongside the Chinese originals. Smaller TPEx names may still be Chinese-first, with English documents arriving later or not at all. When precision matters, the Chinese filing is the authoritative version.
- Cross-check with investor-relations sites for the giants. TSMC, for instance, posts quarterly results and conference materials on its own IR site in English — convenient, but MOPS remains the legal record and the place where the filing timestamp lives.
The English push is not cosmetic. Foreign investors hold a large share of Taiwan’s biggest companies — roughly 69% of TSMC’s shares outstanding, about 62% of Delta Electronics and 56% of MediaTek as of October 2026, per TWSE data — so the regulator has a direct interest in making the statutory record readable abroad.
Worked example: reading a P/E through the filing calendar
Here is how the calendar changes the meaning of a number you look at every day. As of the October 7, 2026 close, TWSE data showed TSMC at NT$2,585 with a published price-to-earnings ratio (PER) of 29.96.
- The TWSE computes that daily PER using trailing-four-quarter earnings per share as filed on MOPS — not a forecast, and not a calendar year.
- Dividing price by the ratio recovers the earnings base: 2,585 ÷ 29.96 ≈ NT$86 of trailing EPS. That NT$86 is trailing-four-quarter earnings derived from the latest financial statements actually filed — the quarterly reports, plus the audited annual financial report where the fourth quarter is concerned, since Q4 has no standalone filing.
- Now apply the calendar. In early October, the trailing window still ends at the second quarter, because the Q3 report is not due until the mid-November deadline (and strong reporters release it earlier, around their investor conference). The day the Q3 filing lands, the window rolls forward one quarter and the published PER can jump or drop with no price move at all.
- The lesson: whenever you compare a Taiwanese stock’s PER across two dates, first check on MOPS which four quarters sit inside each number. During the 45-day filing windows — mid-April to mid-May, July to mid-August, October to mid-November, and January through March — a “re-rating” in the ratio is often just the earnings base updating on schedule.
The rhythm of a Taiwanese earnings season
Because of the monthly revenue rule, Taiwan effectively runs a small earnings season every month and a full one every quarter. The repeating pattern looks like this:
- Days 1–10 of each month: monthly revenue filings cluster, with the strongest exporters often first. Expect single-stock volatility concentrated in names whose sales surprise in either direction.
- Weeks 2–6 after quarter-end: quarterly reports flow in ahead of the 45-day deadline, accompanied by investor conferences — locally called fǎshuōhuì (法說會, literally an “explanation meeting”), the Taiwanese equivalent of an earnings call, which must be announced on MOPS in advance. TSMC’s conference, typically the first heavyweight of each cycle, tends to set the tone for the semiconductor complex.
- January–March: the longest stretch, as audited annual financial reports (and with them the implicit Q4) arrive by end-March, overlapping with dividend proposals ahead of shareholder meetings.
Common mistakes to avoid
- Waiting for a Q4 report that will never be filed separately — derive it from annual minus nine-month figures.
- Comparing January or February revenue month-on-month across the Lunar New Year distortion.
- Applying the 45-day rule to banks and financial holding companies, which follow modified deadlines.
- Treating a strong monthly revenue print as an earnings beat — it is unaudited top line only.
- Assuming the English filing appears at the same moment as the Chinese one for every company; for smaller names it may lag.
FAQ
Is there a standalone Q4 earnings report in Taiwan?
No. The fourth quarter is disclosed inside the audited annual financial report, due within three months of fiscal year-end. Standalone Q4 figures must be derived by subtracting the cumulative nine-month results from the full-year numbers, though large companies usually present the quarterly breakdown themselves at their investor conference.
Where can I find English-language Taiwanese filings?
The English interface of MOPS at emops.twse.com.tw is the statutory source, searchable by four-digit ticker. Larger issuers now publish English material information and financial summaries under FSC requirements; for the biggest names, company IR sites (such as TSMC’s) mirror the key documents. The Chinese filing on MOPS remains the authoritative legal version.
What happens if a company misses a filing deadline?
The exchanges have escalating sanctions: a late financial report can lead to the stock being placed under an altered trading method or suspended, and prolonged failure to file can ultimately end in delisting. In practice, deadline misses are rare among established companies and are themselves treated by the market as a serious red flag.
Are monthly revenue filings audited?
No. They are unaudited consolidated net sales figures. They are reliable as a directional signal precisely because they are statutory and standardized, but margin and profit detail only arrives with the reviewed quarterly report up to 45 days after quarter-end.
Sources
- MOPS — Market Observation Post System, English interface: emops.twse.com.tw
- Taiwan Stock Exchange (TWSE), English site and market data: www.twse.com.tw/en and openapi.twse.com.tw
- Taipei Exchange (TPEx): www.tpex.org.tw
- Taiwan Futures Exchange (TAIFEX): www.taifex.com.tw
- TSMC Investor Relations: investor.tsmc.com
Disclaimer: This is an information and analysis publication, not investment advice. See our Methodology for data sources, standards, and our corrections policy.