Declared Dividend • Jun 08
Dividend of CN¥1.00 announced Shareholders will receive a dividend of CN¥1.00. Ex-date: 12th June 2026 Payment date: 12th June 2026 Dividend yield will be 0.9%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (62% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 10% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 99% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • May 14
Now 21% undervalued Over the last 90 days, the stock has risen 54% to CN¥84.17. The fair value is estimated to be CN¥106, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.4% over the last 3 years. Earnings per share has declined by 3.1%. For the next 3 years, revenue is forecast to grow by 19% per annum. Earnings are also forecast to grow by 26% per annum over the same time period. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥87.23, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 36x in the Electronic industry in China. Total returns to shareholders of 302% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥106 per share. Reported Earnings • Apr 30
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: EPS: CN¥0.20 (down from CN¥0.21 in 1Q 2025). Revenue: CN¥7.99b (down 1.2% from 1Q 2025). Net income: CN¥462.7m (down 5.2% from 1Q 2025). Profit margin: 5.8% (down from 6.0% in 1Q 2025). Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) also missed analyst estimates by 18%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 44% per year, which means it is well ahead of earnings. Price Target Changed • Apr 22
Price target increased by 7.3% to CN¥66.88 Up from CN¥62.34, the current price target is an average from 6 analysts. New target price is 12% below last closing price of CN¥76.18. Stock is up 159% over the past year. The company is forecast to post earnings per share of CN¥2.22 for next year compared to CN¥1.61 last year. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥60.33, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 32x in the Electronic industry in China. Total returns to shareholders of 127% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥78.51 per share. Reported Earnings • Mar 14
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥1.61 (up from CN¥1.56 in FY 2024). Revenue: CN¥39.1b (up 11% from FY 2024). Net income: CN¥3.74b (up 3.2% from FY 2024). Profit margin: 9.5% (in line with FY 2024). Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) also missed analyst estimates by 9.7%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Mar 03
Now 22% undervalued Over the last 90 days, the stock has risen 9.5% to CN¥53.53. The fair value is estimated to be CN¥68.51, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 9.9%. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings are also forecast to grow by 19% per annum over the same time period. Price Target Changed • Feb 01
Price target increased by 9.3% to CN¥60.84 Up from CN¥55.66, the current price target is an average from 5 analysts. New target price is 6.6% above last closing price of CN¥57.07. Stock is up 41% over the past year. The company is forecast to post earnings per share of CN¥1.78 for next year compared to CN¥1.56 last year. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥60.49, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 33x in the Electronic industry in China. Total returns to shareholders of 126% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥65.83 per share. Buy Or Sell Opportunity • Jan 12
Now 21% undervalued Over the last 90 days, the stock has risen 9.3% to CN¥51.91. The fair value is estimated to be CN¥65.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 9.9%. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings are also forecast to grow by 19% per annum over the same time period. Announcement • Dec 31
Avary Holding(Shenzhen)Co., Limited to Report Fiscal Year 2025 Results on Mar 31, 2026 Avary Holding(Shenzhen)Co., Limited announced that they will report fiscal year 2025 results on Mar 31, 2026 Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥49.64, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 29x in the Electronic industry in China. Total returns to shareholders of 87% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥57.49 per share. Buy Or Sell Opportunity • Nov 15
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to CN¥44.58. The fair value is estimated to be CN¥57.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 9.9%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Buy Or Sell Opportunity • Oct 31
Now 23% undervalued Over the last 90 days, the stock has risen 2.0% to CN¥52.55. The fair value is estimated to be CN¥68.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 9.9%. Revenue is forecast to grow by 36% in 2 years. Earnings are forecast to grow by 56% in the next 2 years. Valuation Update With 7 Day Price Move • Oct 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥58.14, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 33x in the Electronic industry in China. Total returns to shareholders of 106% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥73.34 per share. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥47.48, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 33x in the Electronic industry in China. Total returns to shareholders of 88% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥66.67 per share. Buy Or Sell Opportunity • Oct 13
Now 23% undervalued Over the last 90 days, the stock has risen 18% to CN¥51.32. The fair value is estimated to be CN¥66.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 11%. Revenue is forecast to grow by 32% in 2 years. Earnings are forecast to grow by 46% in the next 2 years. Announcement • Sep 30
Avary Holding(Shenzhen)Co., Limited to Report Q3, 2025 Results on Oct 31, 2025 Avary Holding(Shenzhen)Co., Limited announced that they will report Q3, 2025 results on Oct 31, 2025 Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥63.45, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 33x in the Electronic industry in China. Total returns to shareholders of 164% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥67.49 per share. Buy Or Sell Opportunity • Sep 02
Now 21% undervalued Over the last 90 days, the stock has risen 87% to CN¥54.20. The fair value is estimated to be CN¥68.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 11%. Revenue is forecast to grow by 32% in 2 years. Earnings are forecast to grow by 46% in the next 2 years. Valuation Update With 7 Day Price Move • Aug 29
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥59.80, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 32x in the Electronic industry in China. Total returns to shareholders of 120% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥68.70 per share. Reported Earnings • Aug 13
Second quarter 2025 earnings: EPS exceeds analyst expectations Second quarter 2025 results: EPS: CN¥0.32 (up from CN¥0.12 in 2Q 2024). Revenue: CN¥8.29b (up 29% from 2Q 2024). Net income: CN¥744.9m (up 160% from 2Q 2024). Profit margin: 9.0% (up from 4.5% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 14%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥51.50, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 29x in the Electronic industry in China. Total returns to shareholders of 66% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥52.58 per share. Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥45.94, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 27x in the Electronic industry in China. Total returns to shareholders of 60% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥52.81 per share. Buy Or Sell Opportunity • Jul 16
Now 21% undervalued Over the last 90 days, the stock has risen 50% to CN¥41.77. The fair value is estimated to be CN¥52.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 9.8%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 46% in the next 2 years. New Risk • Jul 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.7% average weekly change). Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥35.74, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 26x in the Electronic industry in China. Total returns to shareholders of 32% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥52.94 per share. Announcement • Jul 02
Avary Holding(Shenzhen)Co., Limited to Report First Half, 2025 Results on Aug 13, 2025 Avary Holding(Shenzhen)Co., Limited announced that they will report first half, 2025 results on Aug 13, 2025 Announcement • Jun 13
Avary Holding(Shenzhen)Co., Limited Announces Final Cash Dividend on A Shares for the Year 2024, Payable on 18 June 2025 Avary Holding(Shenzhen)Co., Limited announced final cash dividend of CNY 10.00 per 10 shares on A shares for the year 2024. Record date: 17 June 2025, Ex-date: 18 June 2025 and Payment date: 18 June 2025. Declared Dividend • Jun 13
Dividend increased to CN¥1.00 Dividend of CN¥1.00 is 100% higher than last year. Ex-date: 18th June 2025 Payment date: 18th June 2025 Dividend yield will be 3.3%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (65% earnings payout ratio) and cash flows (58% cash payout ratio). The dividend has increased by an average of 12% per year over the past 6 years. However, payments have been volatile during that time. EPS is expected to grow by 55% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Jun 06
Price target decreased by 9.1% to CN¥38.52 Down from CN¥42.37, the current price target is an average from 4 analysts. New target price is 31% above last closing price of CN¥29.42. Stock is down 4.3% over the past year. The company is forecast to post earnings per share of CN¥1.93 for next year compared to CN¥1.56 last year. Announcement • Apr 30
Avary Holding(Shenzhen)Co., Limited Appoints Chen-En Ko as Additional Director Avary Holding(Shenzhen)Co., Limited at its AGM held on April 29, 2025, elected Mr. Chen-En Ko as additional Director. Reported Earnings • Apr 11
Full year 2024 earnings: EPS in line with expectations, revenues disappoint Full year 2024 results: EPS: CN¥1.56 (up from CN¥1.42 in FY 2023). Revenue: CN¥35.1b (up 9.6% from FY 2023). Net income: CN¥3.62b (up 10% from FY 2023). Profit margin: 10% (in line with FY 2023). Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Apr 10
Avary Holding(Shenzhen)Co., Limited Proposes Final Cash Dividend for the Year 2024 Avary Holding(Shenzhen)Co., Limited announced on 09 April 2025 the profit distribution proposal for the year 2024 as final cash dividend/10 shares (tax included) of CNY 10.00000000. Announcement • Apr 09
Avary Holding(Shenzhen)Co., Limited, Annual General Meeting, Apr 29, 2025 Avary Holding(Shenzhen)Co., Limited, Annual General Meeting, Apr 29, 2025, at 14:30 China Standard Time. Location: Room 101, Factory Building A11, Pengding Park, Songluo Road, Yanchuan Community, Yanluo Subdistrict, Bao'an District, Shenzhen, Guangdong China Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥30.04, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 27x in the Electronic industry in China. Total returns to shareholders of 17% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥38.58 per share. Announcement • Mar 31
Avary Holding(Shenzhen)Co., Limited to Report Q1, 2025 Results on Apr 30, 2025 Avary Holding(Shenzhen)Co., Limited announced that they will report Q1, 2025 results on Apr 30, 2025 Reported Earnings • Mar 13
Full year 2024 earnings: EPS in line with expectations, revenues disappoint Full year 2024 results: EPS: CN¥1.56 (up from CN¥1.42 in FY 2023). Revenue: CN¥35.1b (up 9.6% from FY 2023). Net income: CN¥3.62b (up 10% from FY 2023). Profit margin: 10% (in line with FY 2023). Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Feb 13
Now 22% undervalued Over the last 90 days, the stock has risen 21% to CN¥40.65. The fair value is estimated to be CN¥52.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 2.7%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 49% in the next 2 years. Announcement • Dec 31
Avary Holding(Shenzhen)Co., Limited to Report Fiscal Year 2024 Results on Apr 19, 2025 Avary Holding(Shenzhen)Co., Limited announced that they will report fiscal year 2024 results on Apr 19, 2025 Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥35.09, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 25x in the Electronic industry in China. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥55.32 per share. Reported Earnings • Oct 31
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: EPS: CN¥0.52 (up from CN¥0.45 in 3Q 2023). Revenue: CN¥10.4b (up 16% from 3Q 2023). Net income: CN¥1.19b (up 15% from 3Q 2023). Profit margin: 12% (in line with 3Q 2023). Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 2% per year. Buy Or Sell Opportunity • Oct 25
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at CN¥36.41. The fair value is estimated to be CN¥46.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 3.1%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 47% in the next 2 years. Buy Or Sell Opportunity • Oct 09
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to CN¥35.17. The fair value is estimated to be CN¥46.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 3.1%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 47% in the next 2 years. Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥35.77, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 24x in the Electronic industry in China. Total returns to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥46.43 per share. Announcement • Sep 30
Avary Holding(Shenzhen)Co., Limited to Report Q3, 2024 Results on Oct 31, 2024 Avary Holding(Shenzhen)Co., Limited announced that they will report Q3, 2024 results on Oct 31, 2024 Reported Earnings • Aug 14
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: EPS: CN¥0.12 (down from CN¥0.17 in 2Q 2023). Revenue: CN¥6.44b (up 32% from 2Q 2023). Net income: CN¥287.0m (down 27% from 2Q 2023). Profit margin: 4.5% (down from 8.1% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 29%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 1% per year. Buy Or Sell Opportunity • Aug 01
Now 20% undervalued Over the last 90 days, the stock has risen 52% to CN¥36.73. The fair value is estimated to be CN¥46.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 8.5%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 36% in the next 2 years. New Risk • Jul 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 7.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.2% average weekly change). Announcement • Jun 29
Avary Holding(Shenzhen)Co., Limited to Report First Half, 2024 Results on Aug 14, 2024 Avary Holding(Shenzhen)Co., Limited announced that they will report first half, 2024 results on Aug 14, 2024 Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥37.95, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 23x in the Electronic industry in China. Total returns to shareholders of 34% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥37.40 per share. Declared Dividend • Jun 08
Dividend reduced to CN¥0.50 Dividend of CN¥0.50 is 29% lower than last year. Ex-date: 13th June 2024 Payment date: 13th June 2024 Dividend yield will be 1.6%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is well covered by both earnings (34% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has remained flat since 5 years ago. However, payments have been volatile during that time. EPS is expected to grow by 50% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 08
Avary Holding(Shenzhen)Co., Limited Announces Final Cash Dividend on A Shares for the Year 2023, Payable on 13 June 2024 Avary Holding(Shenzhen)Co., Limited announced final cash dividend/10 shares (tax included) of CNY 5.00000000 on A shares for the year 2023. Record date: 12 June 2024 Ex-date: 13 June 2024 and Payment date: 13 June 2024. Announcement • Apr 25
Avary Holding (Shenzhen) Approves Cash Dividend (Including Tax) Avary Holding (Shenzhen) at its shareholders meeting held on April 24, 2024, approved cash dividend (including tax) of RMB 5 per 10 shares. Price Target Changed • Apr 05
Price target decreased by 14% to CN¥26.70 Down from CN¥30.88, the current price target is an average from 3 analysts. New target price is 22% above last closing price of CN¥21.86. Stock is down 31% over the past year. The company is forecast to post earnings per share of CN¥1.77 for next year compared to CN¥1.42 last year. Reported Earnings • Apr 02
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥1.42 (down from CN¥2.16 in FY 2022). Revenue: CN¥32.1b (down 11% from FY 2022). Net income: CN¥3.29b (down 34% from FY 2022). Profit margin: 10% (down from 14% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 5.3%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Dec 29
Avary Holding(Shenzhen)Co., Limited to Report Fiscal Year 2023 Results on Mar 30, 2024 Avary Holding(Shenzhen)Co., Limited announced that they will report fiscal year 2023 results on Mar 30, 2024 Price Target Changed • Nov 03
Price target decreased by 20% to CN¥30.33 Down from CN¥37.71, the current price target is an average from 3 analysts. New target price is 44% above last closing price of CN¥21.03. Stock is down 31% over the past year. The company is forecast to post earnings per share of CN¥1.66 for next year compared to CN¥2.16 last year. Reported Earnings • Nov 02
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: CN¥0.45 (down from CN¥0.81 in 3Q 2022). Revenue: CN¥8.92b (down 16% from 3Q 2022). Net income: CN¥1.03b (down 44% from 3Q 2022). Profit margin: 12% (down from 17% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 6.4%. Earnings per share (EPS) also missed analyst estimates by 10%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Major Estimate Revision • Nov 01
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥35.1b to CN¥32.6b. EPS estimate also fell from CN¥1.84 per share to CN¥1.57 per share. Net income forecast to grow 2.1% next year vs 71% growth forecast for Electronic industry in China. Consensus price target of CN¥36.08 unchanged from last update. Share price rose 8.4% to CN¥21.06 over the past week. Reported Earnings • Aug 12
Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2023 results: EPS: CN¥0.17 (down from CN¥0.35 in 2Q 2022). Revenue: CN¥4.87b (down 32% from 2Q 2022). Net income: CN¥393.3m (down 53% from 2Q 2022). Profit margin: 8.1% (down from 12% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 5.3%. Earnings per share (EPS) exceeded analyst estimates by 15%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Major Estimate Revision • Aug 11
Consensus revenue estimates fall by 17% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥36.0b to CN¥30.1b. EPS estimate fell from CN¥1.83 to CN¥1.48 per share. Net income forecast to shrink 18% next year vs 57% growth forecast for Electronic industry in China . Consensus price target of CN¥34.65 unchanged from last update. Share price fell 9.2% to CN¥23.00 over the past week. Announcement • Jul 01
Avary Holding(Shenzhen)Co., Limited to Report First Half, 2023 Results on Aug 10, 2023 Avary Holding(Shenzhen)Co., Limited announced that they will report first half, 2023 results on Aug 10, 2023 Buying Opportunity • Jun 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 27%. The fair value is estimated to be CN¥30.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to grow by 27% in 2 years. Earnings is forecast to grow by 18% in the next 2 years. Price Target Changed • Jun 12
Price target decreased by 8.1% to CN¥34.65 Down from CN¥37.71, the current price target is an average from 6 analysts. New target price is 37% above last closing price of CN¥25.35. Stock is down 12% over the past year. The company is forecast to post earnings per share of CN¥1.83 for next year compared to CN¥2.16 last year. Announcement • Jun 08
Avary Holding(Shenzhen)Co., Limited Implements Final Profit Distribution Plan of (A Shares) for 2022, Payable on 13 June 2023 Avary Holding(Shenzhen)Co., Limited announced 2022 final profit distribution plan to be implemented (A shares): Cash dividend/10 shares (tax included): CNY 7.00000000. Record date: 12 June 2023, Ex-date: 13 June 2023, Payment date: 13 June 2023. Major Estimate Revision • May 26
Consensus EPS estimates increase by 13%, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from CN¥41.4b to CN¥40.3b. EPS estimate rose from CN¥1.52 to CN¥1.72. Net income forecast to shrink 15% next year vs 51% growth forecast for Electronic industry in China . Consensus price target down from CN¥37.25 to CN¥35.65. Share price rose 2.2% to CN¥24.43 over the past week. Buying Opportunity • May 04
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be CN¥31.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to grow by 33% in 2 years. Earnings is forecast to grow by 23% in the next 2 years. Valuation Update With 7 Day Price Move • Apr 27
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥25.69, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 22x in the Electronic industry in China. Total loss to shareholders of 36% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥28.22 per share. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥33.15, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 26x in the Electronic industry in China. Total returns to shareholders of 7.0% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥21.05 per share. Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: CN¥2.16 (vs CN¥1.43 in FY 2021) Full year 2022 results: EPS: CN¥2.16 (up from CN¥1.43 in FY 2021). Revenue: CN¥36.2b (up 8.7% from FY 2021). Net income: CN¥5.01b (up 51% from FY 2021). Profit margin: 14% (up from 10.0% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Dec 08
Avary Holding(Shenzhen)Co., Limited announced that it expects to receive CNY 4 billion in funding Avary Holding(Shenzhen)Co., Limited announced a private placement of not more than 150,000,000 A shares for gross proceeds of not more than CNY 4,000,000,000 on December 6, 2022. The subscribers of the transaction are not more than 35 specific objects who meet the conditions stipulated by the China Securities Regulatory Commission. The pricing base date of this issuance is the first day of the issuance period of the company's non-public issuance of shares. The price of this issuance shall not be lower than 80% of the average stock trading price of the company in the 20 trading days before the pricing base date (the average stock trading price in the 20 trading days before the pricing base date = the total stock trading volume in the 20 trading days before the pricing base date / The total amount of stock transactions in the 20 trading days before the pricing benchmark day). The shares subscribed by the object of the transaction shall not be transferred within six months from the date of completion of the issuance. The transaction was approved at the 22nd meeting of the second board of directors of the company. The transaction is subject to the approval of general meeting of shareholders and the China Securities Regulatory Commission. The validity period of the resolution on the transaction is 12 months from the date when the issuance plan is reviewed and approved by the company's general meeting of shareholders. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Zhang Ton-Lin was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Nov 02
Consensus EPS estimates increase by 22% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from CN¥37.7b to CN¥38.4b. EPS estimate increased from CN¥1.71 to CN¥2.09 per share. Net income forecast to shrink 5.2% next year vs 56% growth forecast for Electronic industry in China . Consensus price target broadly unchanged at CN¥40.25. Share price rose 10% to CN¥30.66 over the past week.