Major Estimate Revision • May 04
Consensus EPS estimates increase by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from CN¥61.3b to CN¥63.0b. EPS estimate increased from CN¥3.33 to CN¥3.83 per share. Net income forecast to grow 299% next year vs 52% growth forecast for Electronic industry in China. Consensus price target up from CN¥92.17 to CN¥105. Share price was steady at CN¥187 over the past week. Announcement • Apr 22
Suzhou Dongshan Precision Manufacturing Co., Ltd., Annual General Meeting, May 15, 2026 Suzhou Dongshan Precision Manufacturing Co., Ltd., Annual General Meeting, May 15, 2026, at 14:00 China Standard Time. Location: Building 12, No. 99, Taihu East Road, Wuzhong District, Suzhou, Jiangsu China New Risk • Apr 21
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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.8% average weekly change). Minor Risk High level of debt (45% net debt to equity). New Risk • Apr 08
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 45% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (45% net debt to equity). Share price has been volatile over the past 3 months (8.8% average weekly change). Reported Earnings • Apr 08
Full year 2025 earnings released: EPS: CN¥0.75 (vs CN¥0.64 in FY 2024) Full year 2025 results: EPS: CN¥0.75 (up from CN¥0.64 in FY 2024). Revenue: CN¥40.1b (up 9.1% from FY 2024). Net income: CN¥1.33b (up 22% from FY 2024). Profit margin: 3.3% (up from 3.0% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 35% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 63% per year, which means it is well ahead of earnings. Announcement • Mar 31
Suzhou Dongshan Precision Manufacturing Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Suzhou Dongshan Precision Manufacturing Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 Buy Or Sell Opportunity • Mar 10
Now 28% overvalued after recent price rise Over the last 90 days, the stock has risen 34% to CN¥108. The fair value is estimated to be CN¥84.24, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.4% over the last 3 years. Earnings per share has declined by 26%. Revenue is forecast to grow by 87% in 2 years. Earnings are forecast to grow by 517% in the next 2 years. Announcement • Dec 31
Suzhou Dongshan Precision Manufacturing Co., Ltd. to Report Fiscal Year 2025 Results on Apr 22, 2026 Suzhou Dongshan Precision Manufacturing Co., Ltd. announced that they will report fiscal year 2025 results on Apr 22, 2026 Major Estimate Revision • Dec 27
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from CN¥39.2b to CN¥40.0b. EPS estimate increased from CN¥1.02 to CN¥1.15 per share. Net income forecast to grow 157% next year vs 50% growth forecast for Electronic industry in China. Consensus price target of CN¥60.65 unchanged from last update. Share price rose 13% to CN¥85.49 over the past week. Price Target Changed • Dec 24
Price target increased by 15% to CN¥60.65 Up from CN¥52.80, the current price target is an average from 6 analysts. New target price is 28% below last closing price of CN¥84.10. Stock is up 177% over the past year. The company is forecast to post earnings per share of CN¥1.01 for next year compared to CN¥0.64 last year. Price Target Changed • Nov 13
Price target increased by 12% to CN¥59.24 Up from CN¥52.80, the current price target is an average from 8 analysts. New target price is 18% below last closing price of CN¥72.17. Stock is up 136% over the past year. The company is forecast to post earnings per share of CN¥1.42 for next year compared to CN¥0.64 last year. Major Estimate Revision • Oct 28
Consensus EPS estimates fall by 18%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from CN¥41.2b to CN¥41.9b. EPS estimate fell from CN¥1.50 to CN¥1.23 per share. Net income forecast to grow 169% next year vs 47% growth forecast for Electronic industry in China. Consensus price target up from CN¥50.86 to CN¥52.80. Share price rose 8.2% to CN¥73.90 over the past week. Reported Earnings • Oct 22
Third quarter 2025 earnings: EPS misses analyst expectations Third quarter 2025 results: EPS: CN¥0.25 (down from CN¥0.29 in 3Q 2024). Revenue: CN¥10.1b (up 2.8% from 3Q 2024). Net income: CN¥465.3m (down 8.2% from 3Q 2024). Profit margin: 4.6% (down from 5.2% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 46%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 39% per year, which means it is well ahead of earnings. Announcement • Sep 30
Suzhou Dongshan Precision Manufacturing Co., Ltd. to Report Q3, 2025 Results on Oct 22, 2025 Suzhou Dongshan Precision Manufacturing Co., Ltd. announced that they will report Q3, 2025 results on Oct 22, 2025 Reported Earnings • Aug 28
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: CN¥0.18 (up from CN¥0.16 in 2Q 2024). Revenue: CN¥8.35b (down 6.0% from 2Q 2024). Net income: CN¥302.1m (up 11% from 2Q 2024). Profit margin: 3.6% (up from 3.1% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 41%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Price Target Changed • Jul 31
Price target increased by 7.3% to CN¥36.00 Up from CN¥33.56, the current price target is an average from 8 analysts. New target price is 38% below last closing price of CN¥58.49. Stock is up 141% over the past year. The company is forecast to post earnings per share of CN¥1.59 for next year compared to CN¥0.64 last year. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥54.21, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 28x in the Electronic industry in China. Total returns to shareholders of 137% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥52.53 per share. Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥43.30, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 26x in the Electronic industry in China. Total returns to shareholders of 103% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥51.68 per share. Announcement • Jul 02
Suzhou Dongshan Precision Manufacturing Co., Ltd. to Report First Half, 2025 Results on Aug 27, 2025 Suzhou Dongshan Precision Manufacturing Co., Ltd. announced that they will report first half, 2025 results on Aug 27, 2025 Buy Or Sell Opportunity • Jul 02
Now 23% undervalued Over the last 90 days, the stock has risen 34% to CN¥39.60. The fair value is estimated to be CN¥51.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Earnings per share has declined by 17%. Revenue is forecast to grow by 35% in 2 years. Earnings are forecast to grow by 202% in the next 2 years. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥36.62, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 25x in the Electronic industry in China. Total returns to shareholders of 82% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥51.31 per share. Announcement • Jun 16
Suzhou Dongshan Precision Manufacturing Co., Ltd. (SZSE:002384) and Multek Hong Kong Limited agreed to acquire an unknown minority stake in Source Photonics Holdings (Cayman) Limited from Diamond Hill. L.P. ,Shanghai Qilan Enterprise Management Consulting Partnership Enterprise (Limited Partnership) and others. Suzhou Dongshan Precision Manufacturing Co., Ltd. (SZSE:002384) and Multek Hong Kong Limited agreed to acquire an unknown minority stake in Source Photonics Holdings (Cayman) Limited from Diamond Hill. L.P. ,Shanghai Qilan Enterprise Management Consulting Partnership Enterprise (Limited Partnership) and others on June 13, 2025. A cash consideration of $3 per share will be paid by Suzhou Dongshan Precision Manufacturing Co., Ltd. and Multek Hong Kong Limited.
As of March 31, 2025, Source Photonics Holdings (Cayman) Limited reported total assets of $484.66 million and total common equity of $159.23 million.
The transaction is subject to approval of merger agreement by target board and approval of offer by target shareholders. The deal has been approved by the board. Announcement • May 22
Suzhou Dongshan Precision Manufacturing Co., Ltd. Approves Final Cash Dividend for the Year 2024 Suzhou Dongshan Precision Manufacturing Co., Ltd. at its AGM held on May 16, 2025 approved the profit distribution proposal for 2024 as follows: final cash dividend/10 shares (tax included): CNY 0.70000000. Declared Dividend • May 22
Dividend reduced to CN¥0.07 Dividend of CN¥0.07 is 72% lower than last year. Ex-date: 27th May 2025 Payment date: 27th May 2025 Dividend yield will be 0.2%, which is lower than the industry average of 1.8%. Payout Ratios Payout ratio: 9%. Cash payout ratio: 15%. Announcement • Apr 25
Suzhou Dongshan Precision Manufacturing Co., Ltd., Annual General Meeting, May 16, 2025 Suzhou Dongshan Precision Manufacturing Co., Ltd., Annual General Meeting, May 16, 2025, at 14:00 China Standard Time. Location: Building 12, No. 99, Taihu East Road, Wuzhong District, Suzhou, Jiangsu China Reported Earnings • Apr 15
Full year 2024 earnings released: EPS: CN¥0.63 (vs CN¥1.15 in FY 2023) Full year 2024 results: EPS: CN¥0.63 (down from CN¥1.15 in FY 2023). Revenue: CN¥36.8b (up 9.3% from FY 2023). Net income: CN¥1.09b (down 45% from FY 2023). Profit margin: 3.0% (down from 5.8% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Announcement • Apr 10
Suzhou Dongshan Precision Manufacturing Co., Ltd. (SZSE:002384) announces an Equity Buyback for CNY 200 million worth of its shares. Suzhou Dongshan Precision Manufacturing Co., Ltd. (SZSE:002384 announces a share repurchase program. Under the program, the company will repurchase not more than CNY 200 million worth of its Class A shares. The shares will be repurchased at a price not more than CNY 48.78 per share. The repurchased shares will be used for the implementation of employee shareholding plan or as equity incentive. The program will be valid for a period of 12 months. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥26.69, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 27x in the Electronic industry in China. Total returns to shareholders of 63% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥24.24 per share. Announcement • Mar 31
Suzhou Dongshan Precision Manufacturing Co., Ltd. to Report Q1, 2025 Results on Apr 30, 2025 Suzhou Dongshan Precision Manufacturing Co., Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥37.08, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 30x in the Electronic industry in China. Total returns to shareholders of 96% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥23.84 per share. Buy Or Sell Opportunity • Feb 06
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 5.5% to CN¥32.34. The fair value is estimated to be CN¥25.57, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.9% over the last 3 years. Earnings per share has declined by 3.2%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are also forecast to grow by 28% per annum over the same time period. Buy Or Sell Opportunity • Jan 14
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 36% to CN¥30.93. The fair value is estimated to be CN¥25.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.9% over the last 3 years. Earnings per share has declined by 3.2%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are also forecast to grow by 28% per annum over the same time period. New Risk • Jan 10
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 9.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.4% average weekly change). Profit margins are more than 30% lower than last year (4.5% net profit margin). Announcement • Dec 31
Suzhou Dongshan Precision Manufacturing Co., Ltd. to Report Fiscal Year 2024 Results on Apr 25, 2025 Suzhou Dongshan Precision Manufacturing Co., Ltd. announced that they will report fiscal year 2024 results on Apr 25, 2025 Buy Or Sell Opportunity • Dec 26
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 48% to CN¥31.66. The fair value is estimated to be CN¥25.73, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.9% over the last 3 years. Earnings per share has declined by 3.2%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are also forecast to grow by 29% per annum over the same time period. Price Target Changed • Dec 05
Price target increased by 8.2% to CN¥27.95 Up from CN¥25.82, the current price target is an average from 11 analysts. New target price is 6.4% above last closing price of CN¥26.26. Stock is up 48% over the past year. The company is forecast to post earnings per share of CN¥1.08 for next year compared to CN¥1.15 last year. New Risk • Nov 28
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 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (11% average weekly change). Profit margins are more than 30% lower than last year (4.5% net profit margin). Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥25.50, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 25x in the Electronic industry in China. Total returns to shareholders of 8.3% over the past three years. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥31.50, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 24x in the Electronic industry in China. Total returns to shareholders of 27% over the past three years. Reported Earnings • Oct 29
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: CN¥0.29 (down from CN¥0.30 in 3Q 2023). Revenue: CN¥9.84b (up 11% from 3Q 2023). Net income: CN¥506.8m (flat on 3Q 2023). Profit margin: 5.2% (down from 5.8% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 24%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Sep 30
Suzhou Dongshan Precision Manufacturing Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Suzhou Dongshan Precision Manufacturing Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥23.54, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 21x in the Electronic industry in China. Total returns to shareholders of 16% over the past three years. New Risk • Sep 07
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 8.7% 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 Risk Share price has been highly volatile over the past 3 months (8.7% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.6% net profit margin). Price Target Changed • Aug 21
Price target increased by 7.8% to CN¥24.86 Up from CN¥23.06, the current price target is an average from 9 analysts. New target price is 8.6% above last closing price of CN¥22.89. Stock is up 26% over the past year. The company is forecast to post earnings per share of CN¥1.29 for next year compared to CN¥1.15 last year. Reported Earnings • Aug 20
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: EPS: CN¥0.16 (down from CN¥0.20 in 2Q 2023). Revenue: CN¥8.88b (up 24% from 2Q 2023). Net income: CN¥271.3m (down 23% from 2Q 2023). Profit margin: 3.1% (down from 4.9% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates by 33%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 4% per year. Price Target Changed • Jul 27
Price target increased by 10% to CN¥23.06 Up from CN¥20.96, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of CN¥24.27. Stock is up 6.2% over the past year. The company is forecast to post earnings per share of CN¥1.38 for next year compared to CN¥1.15 last year. New Risk • Jul 18
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 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.3% average weekly change). Profit margins are more than 30% lower than last year (5.1% net profit margin). Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥23.87, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 21x in the Electronic industry in China. Total returns to shareholders of 19% over the past three years. Announcement • Jun 29
Suzhou Dongshan Precision Manufacturing Co., Ltd. to Report First Half, 2024 Results on Aug 20, 2024 Suzhou Dongshan Precision Manufacturing Co., Ltd. announced that they will report first half, 2024 results on Aug 20, 2024 Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥18.63, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 23x in the Electronic industry in China. Total returns to shareholders of 5.7% over the past three years. Major Estimate Revision • Apr 25
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥38.7b to CN¥37.0b. EPS estimate also fell from CN¥1.58 per share to CN¥1.42 per share. Net income forecast to grow 45% next year vs 53% growth forecast for Electronic industry in China. Consensus price target down from CN¥24.51 to CN¥23.24. Share price was steady at CN¥14.12 over the past week. Announcement • Apr 19
Suzhou Dongshan Precision Manufacturing Co., Ltd., Annual General Meeting, May 10, 2024 Suzhou Dongshan Precision Manufacturing Co., Ltd., Annual General Meeting, May 10, 2024, at 14:00 China Standard Time. Location: Building 12, No. 99, Taihu East Road, Wuzhong District, Suzhou, Jiangsu China Reported Earnings • Apr 18
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: CN¥1.15 (down from CN¥1.39 in FY 2022). Revenue: CN¥33.7b (up 6.6% from FY 2022). Net income: CN¥1.96b (down 17% from FY 2022). Profit margin: 5.8% (down from 7.5% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) missed analyst estimates by 4.2%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Mar 30
Suzhou Dongshan Precision Manufacturing Co., Ltd. to Report Q1, 2024 Results on Apr 25, 2024 Suzhou Dongshan Precision Manufacturing Co., Ltd. announced that they will report Q1, 2024 results on Apr 25, 2024 Announcement • Mar 13
Suzhou Dongshan Precision Manufacturing Co., Ltd. announced that it expects to receive CNY 1.5 billion in funding Suzhou Dongshan Precision Manufacturing Co., Ltd. announced a private placement to issue common shares for the gross proceeds of CNY 1,500,000,000 on March 12, 2024. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥12.15, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 17x in the Electronic industry in China. Total loss to shareholders of 40% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥14.20 per share. Announcement • Jan 01
Suzhou Dongshan Precision Manufacturing Co., Ltd. (SZSE:002384) announces an Equity Buyback for CNY 30 million worth of its shares. Suzhou Dongshan Precision Manufacturing Co., Ltd. (SZSE:002384) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 30 million worth of its Class A shares. The shares will be repurchased at a price not more than CNY 27.4 per share. The repurchased shares will be used for the implementation of ESOP or equity incentives. The program will be valid for a period of 12 months. Announcement • Dec 30
Suzhou Dongshan Precision Manufacturing Co., Ltd. to Report Fiscal Year 2023 Results on Apr 18, 2024 Suzhou Dongshan Precision Manufacturing Co., Ltd. announced that they will report fiscal year 2023 results on Apr 18, 2024 New Risk • Oct 27
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 32% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Oct 25
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: CN¥0.30 (down from CN¥0.44 in 3Q 2022). Revenue: CN¥8.83b (up 6.8% from 3Q 2022). Net income: CN¥508.1m (down 35% from 3Q 2022). Profit margin: 5.8% (down from 9.5% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) also missed analyst estimates by 25%. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Price Target Changed • Oct 09
Price target decreased by 8.2% to CN¥27.69 Down from CN¥30.18, the current price target is an average from 7 analysts. New target price is 57% above last closing price of CN¥17.64. Stock is down 21% over the past year. The company is forecast to post earnings per share of CN¥1.43 for next year compared to CN¥1.39 last year. Announcement • Sep 30
Suzhou Dongshan Precision Manufacturing Co., Ltd. to Report Q3, 2023 Results on Oct 25, 2023 Suzhou Dongshan Precision Manufacturing Co., Ltd. announced that they will report Q3, 2023 results on Oct 25, 2023 Major Estimate Revision • Sep 06
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥37.1b to CN¥35.7b. EPS estimate also fell from CN¥1.75 per share to CN¥1.49 per share. Net income forecast to grow 28% next year vs 62% growth forecast for Electronic industry in China. Consensus price target down from CN¥32.77 to CN¥30.18. Share price was steady at CN¥18.96 over the past week. Price Target Changed • Sep 04
Price target decreased by 7.9% to CN¥30.18 Down from CN¥32.77, the current price target is an average from 8 analysts. New target price is 57% above last closing price of CN¥19.19. Stock is down 29% over the past year. The company is forecast to post earnings per share of CN¥1.48 for next year compared to CN¥1.39 last year. Reported Earnings • Aug 31
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: CN¥0.20 (down from CN¥0.26 in 2Q 2022). Revenue: CN¥7.16b (down 1.1% from 2Q 2022). Net income: CN¥352.9m (down 18% from 2Q 2022). Profit margin: 4.9% (down from 6.0% in 2Q 2022). Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 35%. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Buying Opportunity • Aug 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 20%. The fair value is estimated to be CN¥24.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Earnings per share has grown by 34%. Revenue is forecast to grow by 53% in 2 years. Earnings is forecast to grow by 55% in the next 2 years. New Risk • Aug 11
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 0.5% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.3% average weekly change). Announcement • Jun 29
Suzhou Dongshan Precision Manufacturing Co., Ltd. Announces Final Dividend on A Shares for the Year 2022, Payable on July 4, 2023 Suzhou Dongshan Precision Manufacturing Co., Ltd. announced final cash dividend/10 shares (tax included) of CNY 1.10000000 on A shares for the year 2022. Record date is July 3, 2023. Ex-date is July 4, 2023. Payment date is July 4, 2023. Buying Opportunity • Apr 22
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 4.1%. The fair value is estimated to be CN¥32.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 37%. Revenue is forecast to grow by 44% in 2 years. Earnings is forecast to grow by 48% in the next 2 years. Announcement • Jan 01
Suzhou Dongshan Precision Manufacturing Co., Ltd. (SZSE:002384) completed the acquisition of Suzhou Epson Co., Ltd from Japan Display Inc. (TSE:6740) for ¥26.73 billion. Suzhou Dongshan Precision Manufacturing Co., Ltd. (SZSE:002384) signed a share purchase agreement to acquire Suzhou Epson Co., Ltd from Japan Display Inc. (TSE:6740) for ¥20.5 billion on October 28, 2022. Upon completion of the sale, SE will no longer be a consolidated subsidiary of JDI. The transaction is expected to complete in between January to March 2023.
Suzhou Dongshan Precision Manufacturing Co., Ltd. (SZSE:002384) completed the acquisition of Suzhou Epson Co., Ltd from Japan Display Inc. (TSE:6740) for ¥26.73 billion on December 30, 2022. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Liguo Song was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 29
Suzhou Dongshan Precision Manufacturing Co., Ltd. (SZSE:002384) signed a share purchase agreement to acquire Suzhou Epson Co., Ltd from Japan Display Inc. (TSE:6740) for ¥20.5 billion. Suzhou Dongshan Precision Manufacturing Co., Ltd. (SZSE:002384) signed a share purchase agreement to acquire Suzhou Epson Co., Ltd from Japan Display Inc. (TSE:6740) for ¥20.5 billion on October 28, 2022. Upon completion of the sale, SE will no longer be a consolidated subsidiary of JDI. The transaction is expected to complete in between January to March 2023. Buying Opportunity • Oct 29
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 9.4%. The fair value is estimated to be CN¥30.54, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 36%. Revenue is forecast to grow by 32% in 2 years. Earnings is forecast to grow by 46% in the next 2 years. Reported Earnings • Oct 25
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: CN¥0.44 (up from CN¥0.35 in 3Q 2021). Revenue: CN¥8.27b (up 6.0% from 3Q 2021). Net income: CN¥784.3m (up 32% from 3Q 2021). Profit margin: 9.5% (up from 7.6% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 8.4%. Earnings per share (EPS) exceeded analyst estimates by 4.6%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in China. 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 8% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥25.64, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 20x in the Electronic industry in China. Total returns to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥26.00 per share. Reported Earnings • Aug 18
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: EPS: CN¥0.26 (up from CN¥0.21 in 2Q 2021). Revenue: CN¥7.23b (up 11% from 2Q 2021). Net income: CN¥432.1m (up 20% from 2Q 2021). Profit margin: 6.0% (up from 5.5% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.2%. Earnings per share (EPS) exceeded analyst estimates by 10%. Over the next year, revenue is forecast to grow 15%, compared to a 26% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Price Target Changed • Aug 18
Price target increased to CN¥27.19 Up from CN¥25.38, the current price target is an average from 10 analysts. New target price is 9.4% below last closing price of CN¥30.00. Stock is up 56% over the past year. The company is forecast to post earnings per share of CN¥1.42 for next year compared to CN¥1.09 last year. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥24.24, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 21x in the Electronic industry in China. Total returns to shareholders of 56% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥11.07 per share. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥22.25, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 22x in the Electronic industry in China. Total returns to shareholders of 55% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥10.74 per share. Announcement • Jun 18
Suzhou Dongshan Precision Manufacturing Co., Ltd. Announces 2021 Final Profit Distribution Plan to Be Implemented (A Shares), Payable on June 27, 2022 Suzhou Dongshan Precision Manufacturing Co., Ltd. announced 2021 final profit distribution plan to be implemented (A shares), Payable on June 27, 2022. The company announced Cash dividend/10 shares (tax included) of CNY 2.00358000. The record date is June 24, 2022 and ex-date is June 27, 2022. Board Change • May 31
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Liguo Song was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • May 24
Suzhou Dongshan Precision Manufacturing Co., Ltd. Approves Cash Dividend for 2021 Suzhou Dongshan Precision Manufacturing Co., Ltd. at its AGM held on May 20, 2022, approved cash dividend of CNY 2.00000000 per 10 shares (tax included) for 2021.