Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥89.81, the stock trades at a trailing P/E ratio of 79.4x. Average trailing P/E is 102x in the Semiconductor industry in China. Total returns to shareholders of 122% over the past three years. Reported Earnings • Apr 30
First quarter 2026 earnings released: EPS: CN¥0.33 (vs CN¥0.16 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.33 (up from CN¥0.16 in 1Q 2025). Revenue: CN¥577.3m (up 33% from 1Q 2025). Net income: CN¥103.7m (up 103% from 1Q 2025). Profit margin: 18% (up from 12% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year whereas the company’s share price has increased by 32% per year. Announcement • Mar 31
Shanghai Sinyang Semiconductor Materials Co., Ltd. to Report Q1, 2026 Results on Apr 29, 2026 Shanghai Sinyang Semiconductor Materials Co., Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026 Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥71.56, the stock trades at a trailing P/E ratio of 74.3x. Average trailing P/E is 84x in the Semiconductor industry in China. Total returns to shareholders of 89% over the past three years. New Risk • Mar 21
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 108% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risks Dividend is not well covered by cash flows (dividend per share is over 22x cash flows per share). Large one-off items impacting financial results. Reported Earnings • Mar 15
Full year 2025 earnings released: EPS: CN¥0.96 (vs CN¥0.56 in FY 2024) Full year 2025 results: EPS: CN¥0.96 (up from CN¥0.56 in FY 2024). Revenue: CN¥1.94b (up 31% from FY 2024). Net income: CN¥300.7m (up 71% from FY 2024). Profit margin: 16% (up from 12% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Announcement • Mar 14
Shanghai Sinyang Semiconductor Materials Co., Ltd. Proposes Final Cash Dividend for the Year 2025 Shanghai Sinyang Semiconductor Materials Co., Ltd. proposed final cash dividend of CNY 4.80000000 per 10 shares (tax included) for the year 2025. Announcement • Mar 12
Shanghai Sinyang Semiconductor Materials Co., Ltd., Annual General Meeting, May 14, 2026 Shanghai Sinyang Semiconductor Materials Co., Ltd., Annual General Meeting, May 14, 2026, at 14:00 China Standard Time. Location: 4F, No. 1799, Renmin North Road, Songjiang District, Shanghai China New Risk • Feb 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 9.8% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. This is currently the only risk that has been identified for the company. Announcement • Dec 31
Shanghai Sinyang Semiconductor Materials Co., Ltd. to Report Fiscal Year 2025 Results on Mar 13, 2026 Shanghai Sinyang Semiconductor Materials Co., Ltd. announced that they will report fiscal year 2025 results on Mar 13, 2026 Buy Or Sell Opportunity • Dec 13
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to CN¥60.50. The fair value is estimated to be CN¥50.20, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 40%. Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.25 (vs CN¥0.23 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.25 (up from CN¥0.23 in 3Q 2024). Revenue: CN¥497.0m (up 22% from 3Q 2024). Net income: CN¥77.8m (up 9.8% from 3Q 2024). Profit margin: 16% (down from 17% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Shanghai Sinyang Semiconductor Materials Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Shanghai Sinyang Semiconductor Materials Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥63.83, the stock trades at a trailing P/E ratio of 75x. Average trailing P/E is 75x in the Semiconductor industry in China. Total returns to shareholders of 117% over the past three years. Valuation Update With 7 Day Price Move • Sep 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥50.59, the stock trades at a trailing P/E ratio of 75.3x. Average trailing P/E is 72x in the Semiconductor industry in China. Total returns to shareholders of 55% over the past three years. New Risk • Aug 29
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 6.9% 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 Dividend is not well covered by cash flows (265% cash payout ratio). Share price has been volatile over the past 3 months (6.9% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥50.92, the stock trades at a trailing P/E ratio of 75.8x. Average trailing P/E is 72x in the Semiconductor industry in China. Total returns to shareholders of 39% over the past three years. Announcement • Jul 02
Shanghai Sinyang Semiconductor Materials Co., Ltd. to Report First Half, 2025 Results on Aug 28, 2025 Shanghai Sinyang Semiconductor Materials Co., Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Announcement • May 31
Shanghai Sinyang Semiconductor Materials Co., Ltd. Approves Cash Dividend for 2024 Shanghai Sinyang Semiconductor Materials Co., Ltd. at its Annual General Meeting of 2024 on 29 May 2025 approved: Cash dividend/10 shares (tax included): CNY 2.60000000 for 2024. New Risk • May 17
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (265% cash payout ratio). Large one-off items impacting financial results. Reported Earnings • Apr 20
Third quarter 2024 earnings released: EPS: CN¥0.23 (vs CN¥0.087 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.23 (up from CN¥0.087 in 3Q 2023). Revenue: CN¥406.1m (up 27% from 3Q 2023). Net income: CN¥70.9m (up 162% from 3Q 2023). Profit margin: 17% (up from 8.5% in 3Q 2023). Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Apr 19
Shanghai Sinyang Semiconductor Materials Co., Ltd. Proposes Final Cash Dividend for 2024 Shanghai Sinyang Semiconductor Materials Co., Ltd. announced on 18 April 2025 the profit distribution proposal for 2024 as follows: Final cash dividend per 10 shares (tax included) of CNY 2.60000000. Announcement • Apr 18
Shanghai Sinyang Semiconductor Materials Co., Ltd., Annual General Meeting, May 29, 2025 Shanghai Sinyang Semiconductor Materials Co., Ltd., Annual General Meeting, May 29, 2025, at 14:00 China Standard Time. Location: No. 765, Wencheng Road, Songjiang District, Shanghai China Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥35.69, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 37x in the Semiconductor industry in China. Total returns to shareholders of 5.6% over the past three years. Announcement • Mar 31
Shanghai Sinyang Semiconductor Materials Co., Ltd. to Report Q1, 2025 Results on Apr 18, 2025 Shanghai Sinyang Semiconductor Materials Co., Ltd. announced that they will report Q1, 2025 results on Apr 18, 2025 Announcement • Dec 31
Shanghai Sinyang Semiconductor Materials Co., Ltd. to Report Fiscal Year 2024 Results on Apr 18, 2025 Shanghai Sinyang Semiconductor Materials Co., Ltd. announced that they will report fiscal year 2024 results on Apr 18, 2025 Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.23 (vs CN¥0.087 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.23 (up from CN¥0.087 in 3Q 2023). Revenue: CN¥406.1m (up 27% from 3Q 2023). Net income: CN¥70.9m (up 162% from 3Q 2023). Profit margin: 17% (up from 8.5% in 3Q 2023). Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Shanghai Sinyang Semiconductor Materials Co., Ltd. to Report Q3, 2024 Results on Oct 28, 2024 Shanghai Sinyang Semiconductor Materials Co., Ltd. announced that they will report Q3, 2024 results on Oct 28, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥31.45, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 27x in the Semiconductor industry in China. Total loss to shareholders of 24% over the past three years. New Risk • Aug 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 35% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: CN¥0.085 (vs CN¥0.098 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.085 (down from CN¥0.098 in 2Q 2023). Revenue: CN¥363.5m (up 25% from 2Q 2023). Net income: CN¥26.5m (down 13% from 2Q 2023). Profit margin: 7.3% (down from 11% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 15% per year. Announcement • Jun 29
Shanghai Sinyang Semiconductor Materials Co., Ltd. to Report First Half, 2024 Results on Aug 17, 2024 Shanghai Sinyang Semiconductor Materials Co., Ltd. announced that they will report first half, 2024 results on Aug 17, 2024 Declared Dividend • May 27
Dividend increased to CN¥0.20 Dividend of CN¥0.20 is 33% higher than last year. Ex-date: 30th May 2024 Payment date: 30th May 2024 Dividend yield will be 0.7%, which is lower than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (43% 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 10 years. However, payments have been volatile during that time. EPS is expected to grow by 130% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 25
Shanghai Sinyang Semiconductor Materials Co., Ltd. Announces Final Cash Dividend on A Shares for the Year 2023, Payable on 30 May 2024 Shanghai Sinyang Semiconductor Materials Co., Ltd. announced final cash dividend/10 shares (tax included) of CNY 1.98865600 on A shares for the year 2023. Record date: 29 May 2024. Ex-date: 30 May 2024. Payment date: 30 May 2024. Reported Earnings • Apr 22
First quarter 2024 earnings released: EPS: CN¥0.10 (vs CN¥0.18 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.10 (down from CN¥0.18 in 1Q 2023). Revenue: CN¥297.4m (up 14% from 1Q 2023). Net income: CN¥32.4m (down 43% from 1Q 2023). Profit margin: 11% (down from 22% in 1Q 2023). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Mar 30
Shanghai Sinyang Semiconductor Materials Co., Ltd. to Report Q1, 2024 Results on Apr 20, 2024 Shanghai Sinyang Semiconductor Materials Co., Ltd. announced that they will report Q1, 2024 results on Apr 20, 2024 Announcement • Mar 16
Shanghai Sinyang Semiconductor Materials Co., Ltd., Annual General Meeting, Apr 23, 2024 Shanghai Sinyang Semiconductor Materials Co., Ltd., Annual General Meeting, Apr 23, 2024, at 14:00 China Standard Time. Location: No. 765, Wencheng Road, Songjiang District, Shanghai China Agenda: To consider 2023 work report of the board of directors; to consider 2023 work report of the supervisory committee; to consider 2023 annual accounts report; to consider 2023 profit distribution plan; to consider 2023 annual report and its summary; to consider Remuneration for directors; to consider Remuneration for supervisors; to consider Reappointment of 2024 audit firm; to consider Change of the purpose of some raised funds, adjustment of the project implementing progress and settlement of some projects financed with raised funds; and to consider other matters. Reported Earnings • Mar 12
Full year 2023 earnings released: EPS: CN¥0.54 (vs CN¥0.17 in FY 2022) Full year 2023 results: EPS: CN¥0.54 (up from CN¥0.17 in FY 2022). Revenue: CN¥1.21b (up 1.4% from FY 2022). Net income: CN¥166.8m (up 213% from FY 2022). Profit margin: 14% (up from 4.5% in FY 2022). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 34% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥25.89, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 24x in the Semiconductor industry in China. Total loss to shareholders of 34% over the past three years. Announcement • Dec 30
Shanghai Sinyang Semiconductor Materials Co., Ltd. to Report Fiscal Year 2023 Results on Mar 15, 2024 Shanghai Sinyang Semiconductor Materials Co., Ltd. announced that they will report fiscal year 2023 results on Mar 15, 2024 New Risk • Oct 25
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Reported Earnings • Oct 25
Third quarter 2023 earnings released: EPS: CN¥0.087 (vs CN¥0.013 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.087 (up from CN¥0.013 in 3Q 2022). Revenue: CN¥318.8m (down 2.7% from 3Q 2022). Net income: CN¥27.0m (up CN¥23.0m from 3Q 2022). Profit margin: 8.5% (up from 1.2% in 3Q 2022). Revenue is forecast to grow 33% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
Shanghai Sinyang Semiconductor Materials Co., Ltd. to Report Q3, 2023 Results on Oct 25, 2023 Shanghai Sinyang Semiconductor Materials Co., Ltd. announced that they will report Q3, 2023 results on Oct 25, 2023 Reported Earnings • Aug 25
Second quarter 2023 earnings released: EPS: CN¥0.098 (vs CN¥0.076 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.098 (up from CN¥0.076 in 2Q 2022). Revenue: CN¥290.9m (down 4.3% from 2Q 2022). Net income: CN¥30.4m (up 29% from 2Q 2022). Profit margin: 11% (up from 7.7% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 21% per year whereas the company’s share price has fallen by 18% per year. Announcement • May 25
Shanghai Sinyang Semiconductor Materials Co., Ltd. Implements Final Profit Distribution Plan of A Shares for 2022, Payable on 30 May 2023 Shanghai Sinyang Semiconductor Materials Co., Ltd. announced 2022 final profit distribution plan to be implemented (A shares): Cash dividend/10 shares (tax included): CNY 1.50000000. Record date: 29 May 2023, Ex-date: 30 May 2023, Payment date: 30 May 2023. Announcement • May 20
Shanghai Sinyang Semiconductor Materials Co., Ltd. Approves Final Cash Dividend for the Year 2022 Shanghai Sinyang Semiconductor Materials Co., Ltd. at its AGM held on May 18, 2023 approved final cash dividend of CNY 1.50000000 per ten shares (tax included) for the year 2022. Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: CN¥0.18 (vs CN¥0.043 loss in 1Q 2022) First quarter 2023 results: EPS: CN¥0.18 (up from CN¥0.043 loss in 1Q 2022). Revenue: CN¥260.9m (up 6.3% from 1Q 2022). Net income: CN¥56.4m (up CN¥70.0m from 1Q 2022). Profit margin: 22% (up from net loss in 1Q 2022). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Director Jun Shao 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. Board Change • Nov 03
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Director Jun Shao 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. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.013 (vs CN¥0.074 loss in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.013 (up from CN¥0.074 loss in 3Q 2021). Revenue: CN¥327.8m (up 19% from 3Q 2021). Net income: CN¥4.04m (up CN¥27.2m from 3Q 2021). Profit margin: 1.2% (up from net loss in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Oct 20
Wang Fuxiang completed the acquisition of additional 8.51% majority stake in Shanghai Sinyang Semiconductor Materials Co., Ltd. (SZSE:300236) from Sin Yang Industries & Trading Pte Ltd. Wang Fuxiang agreed to acquire additional 8.51% stake in Shanghai Sinyang Semiconductor Materials Co., Ltd. (SZSE:300236) from Sin Yang Industries & Trading Pte Ltd for approximately CNY 850 million on September 1, 2022. Post acquisition, Wang Fuxiang directly held 45,032,070 shares of the Shanghai Sinyang, accounting for 14.45% of the Shanghai Sinyang.
Wang Fuxiang completed the acquisition of additional 8.51% stake in Shanghai Sinyang Semiconductor Materials Co., Ltd. (SZSE:300236) from Sin Yang Industries & Trading Pte Ltd on October 18, 2022. Announcement • Sep 15
Wang Fuxiang completed the acquisition of additional 5% minority stake in Shanghai Sinyang Semiconductor Materials Co., Ltd. (SZSE:300236) from SIN YANG INDUSTRIES & TRADING PTE LTD. Wang Fuxiang signed the share transfer agreement to acquire additional 5.0003% stake in Shanghai Sinyang Semiconductor Materials Co., Ltd. (SZSE:300236) from Sin Yang Industries & Trading Pte Ltd for approximately CNY 410 million on June 14, 2022. Wang Fuxiang will pay CNY 26.05 per share for 15.67 million shares, representing 5.0003% stake in Shanghai Sinyang Semiconductor.Prior to this transaction, Shanghai Sinyang Semiconductor is held 17.77% by Sin Yang Industries and 0.92% by Wang Fuxiang and upon Completion, Sin Yang Industries and Wang Fuxiang will own 12.77% and 5.92%, respectively. The transaction needs to be reviewed and confirmed by the Shenzhen Stock Exchange. This change in equity will not have an impact on the normal production and operation of the company, or affect the governance structure, and there is no situation that damages the interests of the company and minority shareholders.
Wang Fuxiang completed the acquisition of additional 5% stake in Shanghai Sinyang Semiconductor Materials Co., Ltd. (SZSE:300236) from SIN YANG INDUSTRIES & TRADING PTE LTD on September 13, 2022. Announcement • Sep 01
Shanghai Sinyang Semiconductor Materials Co., Ltd. Appoints Shao Jun as Independent Director Shanghai Sinyang Semiconductor Materials Co., Ltd. at its 2nd Extraordinary General Meeting of 2022 on 30 August 2022, during which the following proposal(s) was/were approved: Election and nomination of independent directors, cumulative voting system applicable: Shao Jun. Reported Earnings • Aug 12
Second quarter 2022 earnings released: EPS: CN¥0.076 (vs CN¥0.34 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.076 (down from CN¥0.34 in 2Q 2021). Revenue: CN¥304.0m (up 32% from 2Q 2021). Net income: CN¥23.5m (down 78% from 2Q 2021). Profit margin: 7.7% (down from 46% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Announcement • Jun 24
Shanghai Sinyang Semiconductor Materials Co., Ltd. Announces Final Distribution on A Shares for the Year 2021, Payable on June 30, 2022 Shanghai Sinyang Semiconductor Materials Co., Ltd. announced 2021 final distribution plan of cash dividend per 10 A shares (tax included) of CNY 1.50000000. Record date is June 29, 2021. Ex-date is June 30, 2022. Payment date is June 30, 2022. Announcement • May 20
Shanghai Sinyang Semiconductor Materials Co., Ltd. Approves 2021 Profit Distribution Plan Shanghai Sinyang Semiconductor Materials Co., Ltd. approved 2021 profit distribution plan. The detailed profit distribution plan are as follows: 1) Cash dividend/10 shares (tax included): CNY 1.50000000. Reported Earnings • Apr 27
Full year 2021 earnings released: EPS: CN¥0.34 (vs CN¥0.94 in FY 2020) Full year 2021 results: EPS: CN¥0.34 (down from CN¥0.94 in FY 2020). Revenue: CN¥1.02b (up 47% from FY 2020). Net income: CN¥104.1m (down 62% from FY 2020). Profit margin: 10% (down from 40% in FY 2020). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 31
Third quarter 2021 earnings released: CN¥0.074 loss per share (vs CN¥0.52 profit in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: CN¥274.6m (up 47% from 3Q 2020). Net loss: CN¥23.2m (down 115% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 20
Second quarter 2021 earnings released: EPS CN¥0.34 (vs CN¥0.055 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥231.0m (up 33% from 2Q 2020). Net income: CN¥105.4m (up CN¥89.5m from 2Q 2020). Profit margin: 46% (up from 9.2% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥61.70, the stock trades at a forward P/E ratio of 144x. Average forward P/E is 70x in the Semiconductor industry in China. Total returns to shareholders of 251% over the past three years. Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥48.31, the stock trades at a forward P/E ratio of 117x. Average forward P/E is 59x in the Semiconductor industry in China. Total returns to shareholders of 169% over the past three years. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥43.42, the stock trades at a forward P/E ratio of 101x. Average forward P/E is 54x in the Semiconductor industry in China. Total returns to shareholders of 105% over the past three years. Reported Earnings • Apr 30
First quarter 2021 earnings released: EPS CN¥0.009 (vs CN¥0.035 in 1Q 2020) The company reported a mediocre first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: CN¥206.4m (up 63% from 1Q 2020). Net income: CN¥2.67m (down 74% from 1Q 2020). Profit margin: 1.3% (down from 7.9% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Apr 29
Shanghai Sinyang Semiconductor Materials Co., Ltd. Proposes Cash Dividend for the Year 2020 Shanghai Sinyang Semiconductor Materials Co., Ltd. proposed cash dividend of CNY 2.00 per 10 shares (tax included) for the year 2020. Reported Earnings • Apr 09
Full year 2020 earnings released: EPS CN¥0.94 (vs CN¥0.73 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥693.9m (up 8.3% from FY 2019). Net income: CN¥274.3m (up 30% from FY 2019). Profit margin: 40% (up from 33% in FY 2019). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 02
New 90-day low: CN¥46.73 The company is down 8.0% from its price of CN¥50.70 on 04 November 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 11% over the same period. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥97.6m, down 67% from the prior year. Total revenue was CN¥672.0m over the last 12 months, up 8.1% from the prior year. Is New 90 Day High Low • Oct 26
New 90-day low: CN¥48.46 The company is down 19% from its price of CN¥59.99 on 28 July 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is down 5.0% over the same period. Announcement • Oct 16
Shanghai Chaocheng Materials Technology Co., Ltd completed the acquisition of 28.67% stake in Shanghai Core Carving Micromaterial Technology Co., Ltd from Shanghai Sinyang Semiconductor Materials Co., Ltd. (SZSE:300236). Shanghai Chaocheng Materials Technology Co., Ltd signed a share transfer agreement to acquire 28.67% stake in Shanghai Core Carving Micromaterial Technology Co., Ltd from Shanghai Sinyang Semiconductor Materials Co., Ltd. (SZSE:300236) for CNY 0 on August 13, 2020. Shanghai Chaocheng Materials Technology Co., Ltd. will also participate in a capital increase with Shanghai Chaocheng Materials Technology Co., Ltd. holding 33.33% stake. After the capital increase and share transfer, Shanghai Sinyang Semiconductor Materials Co., Ltd. will hold 38% and Shanghai Chaocheng Materials Technology Co., Ltd. will hold 62%. The deal has been approved in the 14th Meeting of the Shanghai Sinyang Semiconductor Materials Co., Ltd.’s 4th Directorate, and does not need the Shareholders’ Approval.
Shanghai Chaocheng Materials Technology Co., Ltd completed the acquisition of 28.67% stake in Shanghai Core Carving Micromaterial Technology Co., Ltd from Shanghai Sinyang Semiconductor Materials Co., Ltd. (SZSE:300236) on October 14, 2020. Announcement • Aug 18
Shanghai Chaocheng Materials Technology Co., Ltd signed a share transfer agreement to acquire 28.67% stake in Shanghai Core Carving Micromaterial Technology Co., Ltd from Shanghai Sinyang Semiconductor Materials Co., Ltd. (SZSE:300236) for CNY 0. Shanghai Chaocheng Materials Technology Co., Ltd signed a share transfer agreement to acquire 28.67% stake in Shanghai Core Carving Micromaterial Technology Co., Ltd from Shanghai Sinyang Semiconductor Materials Co., Ltd. (SZSE:300236) for CNY 0 on August 13, 2020. Shanghai Chaocheng Materials Technology Co., Ltd. will also participate in a capital increase with Shanghai Chaocheng Materials Technology Co., Ltd. holding 33.33% stake. After the capital increase and share transfer, Shanghai Sinyang Semiconductor Materials Co., Ltd. will hold 38% and Shanghai Chaocheng Materials Technology Co., Ltd. will hold 62%. The deal has been approved in the 14th Meeting of the Shanghai Sinyang Semiconductor Materials Co., Ltd.’s 4th Directorate, and does not need the Shareholders’ Approval. Announcement • Aug 17
Shanghai Sinyang Semiconductor Materials Co., Ltd. announced that it expects to receive CNY 1.5 billion in funding Shanghai Sinyang Semiconductor Materials Co., Ltd. (SZSE:300236) announced private placement of not more than 87,194,674 shares for gross proceeds of not more than CNY 1,500,000,000 to not more than 35 investors on August 13, 2020. Issue price is not less than 80% of the average price in the 20 trading days before the pricing reference date. The shares cannot be transferred within 6 months from the issuance. The transaction has been approved by the 14th Meeting of the 4th directorate and 4th supervisory board. The transaction is subject to approval of shareholders of the company, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission. Announcement • Aug 13
Shanghai Sinyang Semiconductor Materials Co., Ltd. to Report First Half, 2020 Results on Aug 28, 2020 Shanghai Sinyang Semiconductor Materials Co., Ltd. announced that they will report first half, 2020 results on Aug 28, 2020 