This is a relatively new packaging company in that it has only about 4 years of history as a listed company. It started with a high ROE which has been declining since then. While its ROE was higher than those of New Toyo (https://www.i4value.asia/2022/03/has-new-toyo-move-beyond-being-cigar.html#more) or Canone, I wonder how it would perform in 5 years time.