Announcement • May 20
Lens Technology Co., Ltd. (SZSE:300433) proposed to acquire 72.19% stake in Ju Teng International Holdings Limited (SEHK:3336) for HKD 1.9 billion. Lens Technology Co., Ltd. (SZSE:300433) proposed to acquire 72.19% stake in Ju Teng International Holdings Limited (SEHK:3336) for HKD 1.9 billion on May 18, 2026. A cash consideration of HKD 1.91 billion valued at HKD 2.2 per share will be paid by Lens Technology Co., Ltd. As part of consideration, HKD 1.91 billion is paid towards common equity of Ju Teng International Holdings Limited. In a related transaction, Lens Technology Co., Ltd. will acquire stake in Ju Teng International Holdings Limited through a share purchase agreement. Upon completion of the transactions, Lens Technology Co., Ltd. will hold 100% stake in Ju Teng International Holdings Limited. The transaction will be financed through external loan facility of up to HKD 3 billion and/or internal cash resources.
The Board of Directors of Ju Teng International Holdings Limited formed a special committee for the transaction.
CITIC Securities Corporate Finance Limited acted as financial advisor for Lens Technology Co., Ltd. Board Change • May 19
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. 6 non-independent directors. Independent Non-Executive Director Shu-Hui Chuang was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 16
Ju Teng International Holdings Limited, Annual General Meeting, May 22, 2026 Ju Teng International Holdings Limited, Annual General Meeting, May 22, 2026, at 14:30 China Standard Time. Location: 9/f, 33 des voeux road central, central, Hong Kong New Risk • Apr 09
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 Hong Kong stocks, typically moving 15% 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 64% per year over the past 5 years. Minor Risk Significant insider selling over the past 3 months (HK$1.8m sold). Reported Earnings • Mar 27
Full year 2025 earnings released: HK$0.58 loss per share (vs HK$0.63 loss in FY 2024) Full year 2025 results: HK$0.58 loss per share (improved from HK$0.63 loss in FY 2024). Revenue: HK$5.73b (down 4.9% from FY 2024). Net loss: HK$493.4m (loss narrowed 6.9% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. Announcement • Mar 16
Ju Teng International Holdings Limited to Report Fiscal Year 2025 Results on Mar 26, 2026 Ju Teng International Holdings Limited announced that they will report fiscal year 2025 results on Mar 26, 2026 New Risk • Mar 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 69% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (13% average weekly change). Significant insider selling over the past 3 months (HK$1.8m sold). New Risk • Mar 09
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 Hong Kong stocks, typically moving 10% 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 Earnings have declined by 69% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Significant insider selling over the past 3 months (HK$1.8m sold). Recent Insider Transactions • Jan 20
Board Member recently sold HK$528k worth of stock On the 13th of January, Hui-Chin Chiu sold around 250k shares on-market at roughly HK$2.11 per share. This transaction amounted to 4.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$1.0m more than they bought in the last 12 months. Recent Insider Transactions • Oct 12
Independent Non Executive Director recently sold HK$296k worth of stock On the 9th of October, Wai Ming Yip sold around 148k shares on-market at roughly HK$2.00 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$480k more than they bought in the last 12 months. New Risk • Oct 08
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 Hong Kong stocks, typically moving 12% 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 Earnings have declined by 69% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). Reported Earnings • Aug 17
First half 2025 earnings released: HK$0.094 loss per share (vs HK$0.081 loss in 1H 2024) First half 2025 results: HK$0.094 loss per share (further deteriorated from HK$0.081 loss in 1H 2024). Revenue: HK$2.71b (down 9.5% from 1H 2024). Net loss: HK$79.1m (loss widened 15% from 1H 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 105 percentage points per year, which is a significant difference in performance. Announcement • Aug 06
Ju Teng International Holdings Limited to Report First Half, 2025 Results on Aug 15, 2025 Ju Teng International Holdings Limited announced that they will report first half, 2025 results on Aug 15, 2025 Announcement • May 28
Ju Teng International Holdings Limited Announces Retirement of Directors and Change of Composition of Board Committees, Effective May 28, 2025 Ju Teng International Holdings Limited announced that each of Mr. Lin Feng-Chieh ("Mr. Lin'') and Mr. Cherng Chia-Jiun ("Mr. Cherng''), who retired by rotation at the Annual General Meeting pursuant to article 108(A) of the Articles of Association, has informed the Board that he would not offer himself for re-election due to their desire to retire given their respective age. Accordingly, Mr. Lin and Mr. Cherng ceased to be an executive Director and an independent non-executive Director, respectively, with effect from the conclusion of the Annual General Meeting held on May 28, 2025. Each of Mr. Lin and Mr. Cherng has confirmed that he has no disagreement with the Board and that he is not aware of any other matters in respect of his retirement that need to be brought to the attention of the Shareholders or The Stock Exchange of Hong Kong Limited. Following Mr. Cherng's retirement as an independent non-executive Director, Mr. Cherng has ceased to be a chairman of each of the audit committee and remuneration committee of the Board, and a member of each of the nomination committee and corporate governance committee of the Board. Mr. Yuen Chi Ho has been appointed as the chairman of each of the audit committee and remuneration committee of the Board. Announcement • Apr 16
Ju Teng International Holdings Limited, Annual General Meeting, May 28, 2025 Ju Teng International Holdings Limited, Annual General Meeting, May 28, 2025, at 14:00 China Standard Time. Location: unit 1101-02, 11/f, euro trade centre, 13-14 connaught road central, central, Hong Kong Recent Insider Transactions • Apr 03
Independent Non Executive Director recently sold HK$184k worth of stock On the 31st of March, Wai Ming Yip sold around 100k shares on-market at roughly HK$1.84 per share. This transaction amounted to 40% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Mar 30
Full year 2024 earnings released: HK$0.63 loss per share (vs HK$0.27 loss in FY 2023) Full year 2024 results: HK$0.63 loss per share (further deteriorated from HK$0.27 loss in FY 2023). Revenue: HK$6.03b (down 13% from FY 2023). Net loss: HK$529.9m (loss widened 130% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 127 percentage points per year, which is a significant difference in performance. Announcement • Mar 18
Ju Teng International Holdings Limited to Report Fiscal Year 2024 Results on Mar 28, 2025 Ju Teng International Holdings Limited announced that they will report fiscal year 2024 results on Mar 28, 2025 New Risk • Mar 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 48% per year over the past 5 years. Minor Risk Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). New Risk • Feb 14
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 Hong Kong stocks, typically moving 19% 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 48% per year over the past 5 years. Buy Or Sell Opportunity • Feb 13
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 29% to HK$1.25. The fair value is estimated to be HK$1.00, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 21% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Dec 18
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to HK$0.83. The fair value is estimated to be HK$1.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 21% over the last 3 years. Meanwhile, the company became loss making. New Risk • Nov 22
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: HK$769.6m (US$98.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 48% per year over the past 5 years. Minor Risk Market cap is less than US$100m (HK$769.6m market cap, or US$98.9m). Announcement • Sep 05
Ju Teng International Holdings Limited Appoints Dr. Chuang Shu-Hui as an Independent Non-Executive Director, and A Member of the Audit Committee, Remuneration Committee, Nomination Committee and Corporate Governance Committee of the Board The board of directors of Ju Teng International Holdings Limited announced that Dr. Chuang Shu-Hui has been appointed as an independent non-executive Director, and a member of the audit committee, remuneration committee, nomination committee and corporate governance committee of the Board with effect from 2 September 2024. Dr. Chuang Shu-Hui, aged 59, has over 15 years of experience in business administration, application of information systems in government and enterprise, knowledge management and business intelligence. She has been the chairperson of the Department of Business Administration at Asia University, Taiwan since August 2021 and one of its professors since August 2018. Before that, she held various teaching positions at Asia University including assistant professor and associate professor at its Department of Accounting and Information Systems and Department of Business Administration, successively, from August 2007 to July 2018. She is the supervisor of Sunyu Tech Co. Inc., which is principally engaged in providing system development and consulting services for information technology infrastructure. She has been appointed as honorary director general of the Digital Transformation and Innovative Development Association in Taiwan since January 2023. She also served as an independent director of Bai Sha Technology Co., Ltd, from May 2019 to May 2022. Dr. Chuang's research interests include the applications of e-business, knowledge management, online marketing, and business intelligence, and she has been a guest editor and reviewer for international journals regarding information management (such as Queuing Models and Service Management, Journal of Information and Knowledge Management and Technology Analysis & Strategic Management). Dr. Chuang obtained her master's degree in engineering from Tunghai University in June 1999 and her PhD in information management from National Chung Cheng University in April 2008. Reported Earnings • Aug 20
First half 2024 earnings released: HK$0.081 loss per share (vs HK$0.067 loss in 1H 2023) First half 2024 results: HK$0.081 loss per share (further deteriorated from HK$0.067 loss in 1H 2023). Revenue: HK$3.00b (down 13% from 1H 2023). Net loss: HK$68.7m (loss widened 20% from 1H 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Aug 20
Now 20% undervalued Over the last 90 days, the stock has risen 3.8% to HK$1.10. The fair value is estimated to be HK$1.38, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 21% over the last 3 years. Meanwhile, the company became loss making. Announcement • Aug 05
Ju Teng International Holdings Limited to Report First Half, 2024 Results on Aug 15, 2024 Ju Teng International Holdings Limited announced that they will report first half, 2024 results on Aug 15, 2024 Announcement • May 17
Ju Teng International Holdings Limited Announces Cessation of Tsai Wen-Yu as Independent Non-Executive Director, Member of Each of the Audit Committee, Remuneration Committee, Nomination Committee and Corporate Governance Committee Ju Teng International Holdings Limited announced that Mr. Tsai Wen-Yu (``Mr. Tsai'') has informed the Board that he would not offer himself for re-election due to personal health reasons. Accordingly, Mr. Tsai Wen-Yu ceased to be an independent non-executive director of the Company and a member of each of the audit committee, remuneration committee, nomination committee and corporate governance committee of the Board with effect from the conclusion of the Annual General Meeting. Announcement • Apr 12
Ju Teng International Holdings Limited, Annual General Meeting, May 16, 2024 Ju Teng International Holdings Limited, Annual General Meeting, May 16, 2024, at 14:00 China Standard Time. Location: 9/F, Infinitus Plaza, 199 Des Voeux Road Central Hong Kong Agenda: To receive and approve the audited consolidated financial statements of the Company and its subsidiaries and the reports of the directors and auditors of the Company for the year ended 31 December 2023; to consider the re-election of the retiring Directors, each as separate resolution, and to authorise the board of Directors to fix the remuneration of the Directors; to consider the re-appointment of Ernst & Young as the Auditors for the year ending 31 December 2024 and to authorise the Board to fix their remuneration; and to consider other matters. Reported Earnings • Mar 19
Full year 2023 earnings released: HK$0.27 loss per share (vs HK$0.20 profit in FY 2022) Full year 2023 results: HK$0.27 loss per share (down from HK$0.20 profit in FY 2022). Revenue: HK$6.94b (down 16% from FY 2022). Net loss: HK$230.8m (down 234% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. New Risk • Mar 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Dividend is not well covered by earnings (dividend per share is over 101x earnings per share). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.006% net profit margin). Announcement • Mar 06
Ju Teng International Holdings Limited to Report Fiscal Year 2023 Results on Mar 18, 2024 Ju Teng International Holdings Limited announced that they will report fiscal year 2023 results on Mar 18, 2024 Announcement • Jan 11
Ju Teng International Holdings Limited Provides Group Earnings Guidance for the Year Ended 31 December 2023 Ju Teng International Holdings Limited provided group earnings guidance for the year ended 31 December 2023. The company is expected that the group will record a loss attributable to equity holders of the company in the range of approximately HKD 250 million to HKD 300 million for the year ended 31 December 2023 (the Year), as compared to the profit attributable to equity holders of the company of approximately HKD 172 million for the year ended 31 December 2022. Reported Earnings • Aug 17
First half 2023 earnings released: HK$0.067 loss per share (vs HK$0.14 profit in 1H 2022) First half 2023 results: HK$0.067 loss per share (down from HK$0.14 profit in 1H 2022). Revenue: HK$3.46b (down 27% from 1H 2022). Net loss: HK$57.1m (down 150% from profit in 1H 2022). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. New Risk • Aug 17
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: 0.006% Last year net profit margin: 2.2% 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 Dividend is not well covered by earnings (dividend per share is over 101x earnings per share). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.006% net profit margin). Announcement • Aug 05
Ju Teng International Holdings Limited to Report First Half, 2023 Results on Aug 16, 2023 Ju Teng International Holdings Limited announced that they will report first half, 2023 results on Aug 16, 2023 Announcement • Jul 08
Ju Teng International Holdings Limited Provides Earnings Guidance for the Six Months Ended 30 June 2023 Ju Teng International Holdings Limited provides earnings guidance for the six months ended 30 June 2023. It is expected that the Group will record a loss attributable to equity holders of the Company in the range of approximately HKD 50 million to HKD 100 million for the six months ended 30 June 2023 (the "Period"), as compared to the profit attributable to equity holders of the Company of approximately HKD 115 million for the corresponding period in 2022. Despite the measures adopted by the Group to lower the operating costs, the Group is expected to record a net loss for the Period mainly due to the following factors: a decrease in the sales revenue by approximately 25% to 30% as compared with the corresponding period in 2022 mainly as a result of weak demand for notebook computers worldwide resulting from high levels of global inflation during the Period; a substantial decrease in gross profit as compared with the corresponding period in 2022 mainly as a result of destocking by downstream manufacturers, which in turn led to decreased demand for and lowered sales price of the Group's products, and lower utilization rates of the Group's production capacity; despite recording a net foreign exchange gain for the Period, other income decreased mainly due to a decrease in foreign exchange gains as compared with the corresponding period in 2022 due to relatively smaller depreciation of Renminbi against United States dollars ("USD") during the Period; and an increase in finance costs due to the increase in interest rates in USD bank borrowings. Upcoming Dividend • May 15
Upcoming dividend of HK$0.05 per share at 3.9% yield Eligible shareholders must have bought the stock before 22 May 2023. Payment date: 02 June 2023. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of Hong Kong dividend payers (7.6%). Higher than average of industry peers (3.3%). Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: HK$0.20 (vs HK$0.19 in FY 2021) Full year 2022 results: EPS: HK$0.20 (up from HK$0.19 in FY 2021). Revenue: HK$8.26b (down 27% from FY 2021). Net income: HK$172.1m (up 6.0% from FY 2021). Profit margin: 2.1% (up from 1.4% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 6 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Non Executive Director Chia-Jiun Cherng was the last independent director to join the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Recent Insider Transactions • Oct 06
Independent Non Executive Director recently sold HK$70k worth of stock On the 29th of September, Wen-Yu Tsai sold around 54k shares on-market at roughly HK$1.30 per share. This transaction amounted to 84% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$230k more than they bought in the last 12 months. Reported Earnings • Aug 18
First half 2022 earnings released: EPS: HK$0.14 (vs HK$0.043 in 1H 2021) First half 2022 results: EPS: HK$0.14 (up from HK$0.043 in 1H 2021). Revenue: HK$4.74b (down 9.3% from 1H 2021). Net income: HK$114.7m (up 214% from 1H 2021). Profit margin: 2.4% (up from 0.7% in 1H 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 11%, compared to a 8.3% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 17% 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. Upcoming Dividend • May 10
Upcoming dividend of HK$0.08 per share Eligible shareholders must have bought the stock before 17 May 2022. Payment date: 27 May 2022. Payout ratio is a comfortable 42% but the company is not cash flow positive. Trailing yield: 5.9%. Lower than top quartile of Hong Kong dividend payers (7.8%). In line with average of industry peers (5.4%). Price Target Changed • Apr 27
Price target decreased to HK$2.28 Down from HK$3.43, the current price target is provided by 1 analyst. New target price is 66% above last closing price of HK$1.37. Stock is down 35% over the past year. The company is forecast to post earnings per share of HK$0.20 for next year compared to HK$0.19 last year. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 6 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Non Executive Director Chia-Jiun Cherng was the last independent director to join the board, commencing their role in 2008. 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 • Mar 17
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: HK$0.19 (up from HK$0.15 in FY 2020). Revenue: HK$11.3b (up 13% from FY 2020). Net income: HK$162.4m (up 24% from FY 2020). Profit margin: 1.4% (up from 1.3% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.9%. Earnings per share (EPS) missed analyst estimates by 55%. 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 15% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 22
First half 2021 earnings released: EPS HK$0.043 (vs HK$0.26 in 1H 2020) The company reported a soft first half result with weaker earnings and profit margins, although revenues improved. First half 2021 results: Revenue: HK$5.22b (up 14% from 1H 2020). Net income: HK$36.5m (down 84% from 1H 2020). Profit margin: 0.7% (down from 5.0% in 1H 2020). The decrease in margin was driven by higher expenses. 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 6% per year, which means it is significantly lagging earnings growth. Price Target Changed • Aug 18
Price target decreased to HK$2.16 Down from HK$3.42, the current price target is provided by 1 analyst. New target price is 32% above last closing price of HK$1.64. Stock is down 34% over the past year. Upcoming Dividend • May 11
Upcoming dividend of HK$0.10 per share Eligible shareholders must have bought the stock before 18 May 2021. Payment date: 31 May 2021. Trailing yield: 5.0%. Lower than top quartile of Hong Kong dividend payers (5.9%). Higher than average of industry peers (4.3%). Reported Earnings • Apr 17
Full year 2020 earnings released: EPS HK$0.15 (vs HK$0.16 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: HK$10.0b (up 13% from FY 2019). Net income: HK$130.5m (down 11% from FY 2019). Profit margin: 1.3% (down from 1.6% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 18
Full year 2020 earnings released: EPS HK$0.15 (vs HK$0.16 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: HK$10.0b (up 13% from FY 2019). Net income: HK$130.5m (down 11% from FY 2019). Profit margin: 1.3% (down from 1.6% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 18
New 90-day high: HK$2.64 The company is up 17% from its price of HK$2.25 on 20 November 2020. The Hong Kong market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 36% over the same period. Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment improved over the past week After last week's 19% share price gain to HK$2.64, the stock is trading at a trailing P/E ratio of 5.6x, up from the previous P/E ratio of 4.7x. This compares to an average P/E of 16x in the Electronic industry in Hong Kong. Total returns to shareholders over the past three years are 36%. Is New 90 Day High Low • Dec 01
New 90-day low: HK$2.18 The company is down 11% from its price of HK$2.45 on 02 September 2020. The Hong Kong market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 8.0% over the same period. Recent Insider Transactions Derivative • Nov 10
VP & Executive Director exercised options to buy HK$1.4m worth of stock. On the 9th of November, Feng-Chieh Lin exercised options to buy 600.00k shares at a strike price of around HK$1.48, costing a total of HK$888k. This transaction amounted to 49% of their direct individual holding at the time of the trade. Since December 2019, Feng-Chieh has owned 1.22m shares directly. Company insiders have collectively bought HK$11m more than they sold, via options and on-market transactions, in the last 12 months. Is New 90 Day High Low • Sep 18
New 90-day low: HK$2.22 The company is down 22% from its price of HK$2.85 on 19 June 2020. The Hong Kong market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 5.0% over the same period. 
