Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥25.09, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 26x in the Machinery industry in China. Total loss to shareholders of 6.0% over the past three years. Announcement • Jun 30
Shenzhen United Winners Laser Co., Ltd. to Report First Half, 2026 Results on Aug 26, 2026 Shenzhen United Winners Laser Co., Ltd. announced that they will report first half, 2026 results on Aug 26, 2026 Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥29.45, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 27x in the Machinery industry in China. Total returns to shareholders of 15% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥50.66 per share. Declared Dividend • Jun 01
Dividend of CN¥0.15 announced Dividend of CN¥0.15 is the same as last year. Ex-date: 3rd June 2026 Payment date: 3rd June 2026 Dividend yield will be 0.5%, which is lower than the industry average of 2.0%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 4.6% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 185% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥27.66, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 27x in the Machinery industry in China. Total returns to shareholders of 8.2% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥49.49 per share. Reported Earnings • Apr 25
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.49 (up from CN¥0.49 in FY 2024). Revenue: CN¥3.26b (up 3.5% from FY 2024). Net income: CN¥167.3m (up 1.0% from FY 2024). Profit margin: 5.1% (down from 5.3% in FY 2024). Revenue missed analyst estimates by 5.4%. Earnings per share (EPS) also missed analyst estimates by 36%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Apr 25
Shenzhen United Winners Laser Co., Ltd., Annual General Meeting, May 15, 2026 Shenzhen United Winners Laser Co., Ltd., Annual General Meeting, May 15, 2026, at 14:00 China Standard Time. Location: 2F, Block A, No. 18, Rongsha Road, Shatian Community, Kengzi Subdistrict, Pingshan District, Shenzhen, Guangdong China Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥30.60, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 29x in the Machinery industry in China. Total returns to shareholders of 11% over the past three years. Announcement • Mar 30
Shenzhen United Winners Laser Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Shenzhen United Winners Laser Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Reported Earnings • Mar 05
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.50 (up from CN¥0.49 in FY 2024). Revenue: CN¥3.26b (up 3.5% from FY 2024). Net income: CN¥172.2m (up 4.0% from FY 2024). Profit margin: 5.3% (in line with FY 2024). Revenue missed analyst estimates by 5.5%. Earnings per share (EPS) also missed analyst estimates by 36%. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Jan 23
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 29% to CN¥33.14. The fair value is estimated to be CN¥26.67, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.5% over the last 3 years. Earnings per share has declined by 29%. Revenue is forecast to grow by 53% in 2 years. Earnings are forecast to grow by 190% in the next 2 years. Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥28.11, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 26x in the Machinery industry in China. Total loss to shareholders of 7.0% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥26.50 per share. Announcement • Dec 26
Shenzhen United Winners Laser Co., Ltd. to Report Fiscal Year 2025 Results on Apr 25, 2026 Shenzhen United Winners Laser Co., Ltd. announced that they will report fiscal year 2025 results on Apr 25, 2026 Price Target Changed • Nov 22
Price target increased by 9.5% to CN¥26.23 Up from CN¥23.95, the current price target is an average from 3 analysts. New target price is 13% above last closing price of CN¥23.27. Stock is up 19% over the past year. The company is forecast to post earnings per share of CN¥0.86 for next year compared to CN¥0.49 last year. Announcement • Sep 30
Shenzhen United Winners Laser Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Shenzhen United Winners Laser Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥27.90, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 26x in the Machinery industry in China. Total loss to shareholders of 24% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥12.56 per share. New Risk • Sep 05
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 7.1% 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 Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.1% average weekly change). Large one-off items impacting financial results. Reported Earnings • Aug 25
Second quarter 2025 earnings released: EPS: CN¥0.032 (vs CN¥0.07 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.032 (down from CN¥0.07 in 2Q 2024). Revenue: CN¥663.1m (down 8.9% from 2Q 2024). Net income: CN¥11.0m (down 52% from 2Q 2024). Profit margin: 1.7% (down from 3.1% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 17% per year. Announcement • Jun 30
Shenzhen United Winners Laser Co., Ltd. to Report First Half, 2025 Results on Aug 23, 2025 Shenzhen United Winners Laser Co., Ltd. announced that they will report first half, 2025 results on Aug 23, 2025 Declared Dividend • May 23
Dividend of CN¥0.15 announced Dividend of CN¥0.15 is the same as last year. Ex-date: 28th May 2025 Payment date: 28th May 2025 Dividend yield will be 0.9%, which is lower than the industry average of 2.0%. Sustainability & Growth Dividend is covered by earnings (27% 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 5.7% per year over the past 4 years and payments have been stable during that time. EPS is expected to grow by 146% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 15
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.49 (down from CN¥0.85 in FY 2023). Revenue: CN¥3.15b (down 10% from FY 2023). Net income: CN¥165.5m (down 42% from FY 2023). Profit margin: 5.3% (down from 8.2% in FY 2023). Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 36%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Announcement • Apr 15
Shenzhen United Winners Laser Co., Ltd., Annual General Meeting, May 07, 2025 Shenzhen United Winners Laser Co., Ltd., Annual General Meeting, May 07, 2025, at 14:00 China Standard Time. Location: 2F, Lianying Building, Building A, No. 18, Rongsha Road, Shatian Community, Kengzi Subdistrict, Pingshan District, Shenzhen, Guangdong China Announcement • Mar 28
Shenzhen United Winners Laser Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Shenzhen United Winners Laser Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Reported Earnings • Mar 03
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.52 (down from CN¥0.85 in FY 2023). Revenue: CN¥3.21b (down 8.5% from FY 2023). Net income: CN¥175.4m (down 39% from FY 2023). Profit margin: 5.5% (down from 8.2% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 36%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • Dec 27
Shenzhen United Winners Laser Co., Ltd. to Report Fiscal Year 2024 Results on Apr 15, 2025 Shenzhen United Winners Laser Co., Ltd. announced that they will report fiscal year 2024 results on Apr 15, 2025 Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to CN¥20.36, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 18x in the Machinery industry in China. Total loss to shareholders of 56% over the past three years. Price Target Changed • Nov 07
Price target increased by 9.7% to CN¥15.86 Up from CN¥14.46, the current price target is an average from 6 analysts. New target price is 5.4% below last closing price of CN¥16.77. Stock is down 16% over the past year. The company is forecast to post earnings per share of CN¥0.87 for next year compared to CN¥0.85 last year. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.13 (vs CN¥0.16 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.13 (down from CN¥0.16 in 3Q 2023). Revenue: CN¥743.8m (down 13% from 3Q 2023). Net income: CN¥43.6m (down 19% from 3Q 2023). Profit margin: 5.9% (down from 6.3% in 3Q 2023). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Machinery 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 28% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥13.92, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 16x in the Machinery industry in China. Total loss to shareholders of 62% over the past three years. Announcement • Sep 30
Shenzhen United Winners Laser Co., Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Shenzhen United Winners Laser Co., Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥13.52, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 15x in the Machinery industry in China. Total loss to shareholders of 54% over the past three years. Announcement • Jun 28
Shenzhen United Winners Laser Co., Ltd. to Report First Half, 2024 Results on Aug 24, 2024 Shenzhen United Winners Laser Co., Ltd. announced that they will report first half, 2024 results on Aug 24, 2024 Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥15.79, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 16x in the Machinery industry in China. Negligible returns to shareholders over past three years. Major Estimate Revision • May 29
Consensus EPS estimates fall by 13% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from CN¥1.24 to CN¥1.08 per share. Revenue forecast steady at CN¥4.17b. Net income forecast to grow 75% next year vs 42% growth forecast for Machinery industry in China. Consensus price target down from CN¥19.37 to CN¥17.57. Share price fell 4.6% to CN¥13.50 over the past week. Price Target Changed • May 29
Price target decreased by 9.3% to CN¥17.57 Down from CN¥19.37, the current price target is an average from 5 analysts. New target price is 30% above last closing price of CN¥13.50. Stock is down 48% over the past year. The company is forecast to post earnings per share of CN¥1.08 for next year compared to CN¥0.85 last year. Major Estimate Revision • May 05
Consensus EPS estimates increase by 19% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from CN¥1.02 to CN¥1.20. Revenue forecast unchanged at CN¥4.09b. Net income forecast to grow 84% next year vs 46% growth forecast for Machinery industry in China. Consensus price target down from CN¥19.35 to CN¥18.66. Share price fell 4.4% to CN¥13.41 over the past week. New Risk • Apr 30
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 6.5% Last year net profit margin: 11% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (6.5% net profit margin). Reported Earnings • Apr 30
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: CN¥0.08 (down from CN¥0.27 in 1Q 2023). Revenue: CN¥728.0m (down 5.0% from 1Q 2023). Net income: CN¥28.4m (down 68% from 1Q 2023). Profit margin: 3.9% (down from 12% in 1Q 2023). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 5.0%. Earnings per share (EPS) also missed analyst estimates by 56%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 20
Price target decreased by 9.5% to CN¥19.35 Down from CN¥21.38, the current price target is an average from 6 analysts. New target price is 42% above last closing price of CN¥13.61. Stock is down 51% over the past year. The company is forecast to post earnings per share of CN¥1.02 for next year compared to CN¥0.85 last year. Major Estimate Revision • Apr 20
Consensus EPS estimates increase by 16%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from CN¥4.07b to CN¥3.97b. EPS estimate rose from CN¥0.877 to CN¥1.02. Net income forecast to grow 18% next year vs 47% growth forecast for Machinery industry in China. Consensus price target down from CN¥21.38 to CN¥19.35. Share price fell 9.6% to CN¥13.61 over the past week. Reported Earnings • Apr 16
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: CN¥0.85. Revenue: CN¥3.51b (up 24% from FY 2022). Net income: CN¥286.3m (up 7.2% from FY 2022). Profit margin: 8.2% (down from 9.5% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Machinery industry in China. Announcement • Apr 13
Shenzhen United Winners Laser Co., Ltd., Annual General Meeting, May 07, 2024 Shenzhen United Winners Laser Co., Ltd., Annual General Meeting, May 07, 2024, at 14:00 China Standard Time. Announcement • Mar 29
Shenzhen United Winners Laser Co., Ltd. to Report Q1, 2024 Results on Apr 29, 2024 Shenzhen United Winners Laser Co., Ltd. announced that they will report Q1, 2024 results on Apr 29, 2024 Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥13.67, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 17x in the Machinery industry in China. Total returns to shareholders of 7.1% over the past three years. Price Target Changed • Mar 26
Price target decreased by 9.3% to CN¥21.38 Down from CN¥23.58, the current price target is an average from 6 analysts. New target price is 48% above last closing price of CN¥14.45. Stock is down 50% over the past year. The company is forecast to post earnings per share of CN¥0.88 for next year compared to CN¥0.87 last year. Major Estimate Revision • Mar 21
Consensus EPS estimates fall by 35% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from CN¥1.35 to CN¥0.877 per share. Revenue forecast steady at CN¥4.21b. Net income forecast to grow 1.8% next year vs 42% growth forecast for Machinery industry in China. Consensus price target broadly unchanged at CN¥23.32. Share price rose 2.5% to CN¥15.94 over the past week. Reported Earnings • Feb 27
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: CN¥0.87. Revenue: CN¥3.54b (up 26% from FY 2022). Net income: CN¥290.6m (up 8.8% from FY 2022). Profit margin: 8.2% (down from 9.5% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Machinery industry in China. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥13.11, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 15x in the Machinery industry in China. Total returns to shareholders of 7.8% over the past three years. Price Target Changed • Nov 13
Price target decreased by 18% to CN¥25.32 Down from CN¥31.00, the current price target is an average from 5 analysts. New target price is 27% above last closing price of CN¥19.99. Stock is down 43% over the past year. The company is forecast to post earnings per share of CN¥0.94 for next year compared to CN¥0.89 last year. Major Estimate Revision • Nov 04
Consensus EPS estimates fall by 30% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥3.93b to CN¥3.59b. EPS estimate also fell from CN¥1.41 per share to CN¥0.995 per share. Net income forecast to grow 61% next year vs 55% growth forecast for Machinery industry in China. Consensus price target down from CN¥31.00 to CN¥29.08. Share price fell 8.2% to CN¥19.25 over the past week. Reported Earnings • Nov 01
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: CN¥0.16 (down from CN¥0.41 in 3Q 2022). Revenue: CN¥854.2m (down 5.9% from 3Q 2022). Net income: CN¥53.5m (down 54% from 3Q 2022). Profit margin: 6.3% (down from 13% in 3Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 56%. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. New Risk • Oct 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 6.2% 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: Major Risk High level of non-cash earnings (44% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.2% average weekly change). Shareholders have been diluted in the past year (13% increase in shares outstanding). Price Target Changed • Sep 01
Price target decreased by 8.2% to CN¥31.30 Down from CN¥34.08, the current price target is an average from 5 analysts. New target price is 27% above last closing price of CN¥24.74. Stock is down 34% over the past year. The company is forecast to post earnings per share of CN¥1.41 for next year compared to CN¥0.89 last year. Reported Earnings • Aug 30
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: CN¥0.33 (up from CN¥0.18 in 2Q 2022). Revenue: CN¥934.1m (up 52% from 2Q 2022). Net income: CN¥110.9m (up 101% from 2Q 2022). Profit margin: 12% (up from 9.0% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 8.4%. Earnings per share (EPS) also surpassed analyst estimates by 50%. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. New Risk • Jun 14
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.5% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (56% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (13% increase in shares outstanding). Reported Earnings • Apr 22
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥0.89 (up from CN¥0.31 in FY 2021). Revenue: CN¥2.82b (up 102% from FY 2021). Net income: CN¥266.9m (up 190% from FY 2021). Profit margin: 9.5% (up from 6.6% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 11%. Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 21% growth forecast for the Machinery industry in China. Price Target Changed • Apr 06
Price target decreased by 11% to CN¥36.27 Down from CN¥40.95, the current price target is an average from 3 analysts. New target price is 18% above last closing price of CN¥30.64. Stock is down 3.2% over the past year. The company is forecast to post earnings per share of CN¥0.97 for next year compared to CN¥0.31 last year. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.41 (vs CN¥0.11 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.41 (up from CN¥0.11 in 3Q 2021). Revenue: CN¥907.5m (up 132% from 3Q 2021). Net income: CN¥117.2m (up 267% from 3Q 2021). Profit margin: 13% (up from 8.2% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 35% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Machinery industry in China. Price Target Changed • Oct 16
Price target increased to CN¥44.76 Up from CN¥39.40, the current price target is an average from 3 analysts. New target price is 20% above last closing price of CN¥37.39. Stock is up 8.9% over the past year. The company is forecast to post earnings per share of CN¥1.04 for next year compared to CN¥0.31 last year. Reported Earnings • Aug 31
Second quarter 2022 earnings released: EPS: CN¥0.18 (vs CN¥0.04 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.18 (up from CN¥0.04 in 2Q 2021). Revenue: CN¥615.3m (up 108% from 2Q 2021). Net income: CN¥55.2m (up 373% from 2Q 2021). Profit margin: 9.0% (up from 3.9% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 101%, compared to a 35% growth forecast for the Machinery industry in China. Reported Earnings • May 02
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: CN¥0.05 (up from CN¥0.04 in 1Q 2021). Revenue: CN¥371.4m (up 63% from 1Q 2021). Net income: CN¥14.9m (up 17% from 1Q 2021). Profit margin: 4.0% (down from 5.6% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) missed analyst estimates by 14%. Over the next year, revenue is forecast to grow 112%, compared to a 31% growth forecast for the industry in China. Price Target Changed • Apr 27
Price target decreased to CN¥39.03 Down from CN¥52.09, the current price target is an average from 4 analysts. New target price is 84% above last closing price of CN¥21.23. Stock is up 38% over the past year. The company is forecast to post earnings per share of CN¥0.98 for next year compared to CN¥0.31 last year. Reported Earnings • Apr 19
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥0.31 (up from CN¥0.26 in FY 2020). Revenue: CN¥1.40b (up 59% from FY 2020). Net income: CN¥92.0m (up 37% from FY 2020). Profit margin: 6.6% (down from 7.6% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) missed analyst estimates by 14%. Over the next year, revenue is forecast to grow 109%, compared to a 29% growth forecast for the industry in China. Reported Earnings • Feb 28
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥0.30 (up from CN¥0.26 in FY 2020). Revenue: CN¥1.40b (up 59% from FY 2020). Net income: CN¥91.0m (up 36% from FY 2020). Profit margin: 6.5% (down from 7.6% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) missed analyst estimates by 17%. Over the next year, revenue is forecast to grow 92%, compared to a 30% growth forecast for the industry in China. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.11 (vs CN¥0.007 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥391.6m (up 124% from 3Q 2020). Net income: CN¥31.9m (up CN¥30.0m from 3Q 2020). Profit margin: 8.2% (up from 1.1% in 3Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Aug 30
Second quarter 2021 earnings released: EPS CN¥0.04 (vs CN¥0.004 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥296.2m (up 111% from 2Q 2020). Net income: CN¥11.7m (up CN¥12.5m from 2Q 2020). Profit margin: 3.9% (up from net loss in 2Q 2020). Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥18.41, the stock trades at a forward P/E ratio of 51x. Average forward P/E is 21x in the Machinery industry in China. Total loss to shareholders of 37% over the past year. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥17.06, the stock trades at a forward P/E ratio of 47x. Average forward P/E is 21x in the Machinery industry in China. Reported Earnings • Apr 25
Full year 2020 earnings released: EPS CN¥0.26 (vs CN¥0.32 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: CN¥877.9m (down 13% from FY 2019). Net income: CN¥67.0m (down 7.1% from FY 2019). Profit margin: 7.6% (up from 7.1% in FY 2019). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥14.97, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 22x in the Machinery industry in China. Is New 90 Day High Low • Jan 29
New 90-day low: CN¥12.74 The company is down 29% from its price of CN¥17.83 on 30 October 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 9.0% over the same period. Is New 90 Day High Low • Jan 13
New 90-day low: CN¥12.78 The company is down 36% from its price of CN¥19.87 on 15 October 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 6.0% over the same period. Is New 90 Day High Low • Dec 28
New 90-day low: CN¥14.24 The company is down 24% from its price of CN¥18.82 on 29 September 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 9.0% over the same period. Is New 90 Day High Low • Dec 12
New 90-day low: CN¥16.49 The company is down 14% from its price of CN¥19.27 on 11 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 4.0% over the same period. Is New 90 Day High Low • Oct 29
New 90-day low: CN¥18.62 The company is down 24% from its price of CN¥24.57 on 31 July 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 4.0% over the same period. Is New 90 Day High Low • Sep 25
New 90-day low: CN¥19.13 The company is down 34% from its price of CN¥29.00 on 24 June 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 15% over the same period. Announcement • Jul 17
Shenzhen United Winners Laser Co., Ltd. to Report First Half, 2020 Results on Aug 29, 2020 Shenzhen United Winners Laser Co., Ltd. announced that they will report first half, 2020 results on Aug 29, 2020 
