Announcement • Apr 30
Crystal Growth & Energy Equipment Co.,Ltd., Annual General Meeting, May 21, 2026 Crystal Growth & Energy Equipment Co.,Ltd., Annual General Meeting, May 21, 2026, at 14:50 China Standard Time. Location: No. 49, Zonghui Road, Nanjing Economic and Technological Development Zone, Jiangsu China Reported Earnings • Apr 30
Full year 2025 earnings released: CN¥0.28 loss per share (vs CN¥0.39 profit in FY 2024) Full year 2025 results: CN¥0.28 loss per share (down from CN¥0.39 profit in FY 2024). Revenue: CN¥115.5m (down 73% from FY 2024). Net loss: CN¥38.3m (down 171% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. New Risk • Apr 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 10.0% 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 Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 11% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (10.0% average weekly change). Announcement • Mar 30
Crystal Growth & Energy Equipment Co.,Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Crystal Growth & Energy Equipment Co.,Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 New Risk • Mar 03
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 7.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 0.5% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.7% average weekly change). New Risk • Jan 06
New major risk - Revenue and earnings growth Earnings have declined by 0.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 0.5% per year over the past 5 years. Announcement • Dec 26
Crystal Growth & Energy Equipment Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 30, 2026 Crystal Growth & Energy Equipment Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 30, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings released: CN¥0.031 loss per share (vs CN¥0.15 profit in 3Q 2024) Third quarter 2025 results: CN¥0.031 loss per share (down from CN¥0.15 profit in 3Q 2024). Revenue: CN¥33.1m (down 74% from 3Q 2024). Net loss: CN¥3.81m (down 120% from profit in 3Q 2024). Revenue is forecast to grow 69% p.a. on average during the next 2 years, compared to a 26% growth forecast for the Semiconductor industry in China. New Risk • Sep 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 7.3% 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 Share price has been volatile over the past 3 months (7.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.9% net profit margin). Announcement • Sep 30
Crystal Growth & Energy Equipment Co.,Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Crystal Growth & Energy Equipment Co.,Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Board Change • Sep 09
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Liang He was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Jun 30
Crystal Growth & Energy Equipment Co.,Ltd. to Report First Half, 2025 Results on Aug 30, 2025 Crystal Growth & Energy Equipment Co.,Ltd. announced that they will report first half, 2025 results on Aug 30, 2025 Declared Dividend • Jun 16
Dividend of CN¥0.25 announced Shareholders will receive a dividend of CN¥0.25. Ex-date: 19th June 2025 Payment date: 19th June 2025 Dividend yield will be 0.9%, which is lower than the industry average of 1.7%. Sustainability & Growth Dividend is not adequately covered by earnings (93% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 26 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 3.6% to bring the payout ratio under control. EPS is expected to grow by 75% over the next year, which is sufficient to bring the dividend into a sustainable range. New Risk • May 29
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 93% The company is paying a dividend despite having no free cash flows. Dividend yield: 0.9% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain 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: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 93% Paying a dividend despite having no free cash flows. High level of non-cash earnings (44% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (8.8% net profit margin). Announcement • Apr 29
Crystal Growth & Energy Equipment Co.,Ltd., Annual General Meeting, May 20, 2025 Crystal Growth & Energy Equipment Co.,Ltd., Annual General Meeting, May 20, 2025, at 14:30 China Standard Time. New Risk • Apr 07
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 7.9% 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. This is currently the only risk that has been identified for the company. 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¥25.34, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 38x in the Semiconductor industry in China. Total loss to shareholders of 14% over the past year. Announcement • Mar 28
Crystal Growth & Energy Equipment Co.,Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Crystal Growth & Energy Equipment Co.,Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Reported Earnings • Mar 02
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.39 (down from CN¥0.56 in FY 2023). Revenue: CN¥425.0m (up 4.8% from FY 2023). Net income: CN¥53.3m (down 25% from FY 2023). Profit margin: 13% (down from 18% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 40%. Earnings per share (EPS) also missed analyst estimates by 49%. Revenue is forecast to grow 44% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Semiconductor industry in China. Announcement • Dec 27
Crystal Growth & Energy Equipment Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 29, 2025 Crystal Growth & Energy Equipment Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 29, 2025 Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥35.30, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 40x in the Semiconductor industry in China. Total loss to shareholders of 23% over the past year. Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.15 (vs CN¥0.20 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.15 (down from CN¥0.20 in 3Q 2023). Revenue: CN¥126.6m (up 1.0% from 3Q 2023). Net income: CN¥19.4m (down 32% from 3Q 2023). Profit margin: 15% (down from 23% in 3Q 2023). Revenue is forecast to grow 33% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Semiconductor industry in China. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to CN¥28.18, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 32x in the Semiconductor industry in China. Total loss to shareholders of 36% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥56.04 per share. Announcement • Sep 30
Crystal Growth & Energy Equipment Co.,Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Crystal Growth & Energy Equipment 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 18% After last week's 18% share price gain to CN¥24.90, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 29x in the Semiconductor industry in China. Total loss to shareholders of 45% over the past year. Announcement • Jun 29
Crystal Growth & Energy Equipment Co.,Ltd. to Report First Half, 2024 Results on Aug 15, 2024 Crystal Growth & Energy Equipment Co.,Ltd. announced that they will report first half, 2024 results on Aug 15, 2024 Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥33.17, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 31x in the Semiconductor industry in China. Total loss to shareholders of 29% over the past year. New Risk • May 24
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (21% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Announcement • May 01
Crystal Growth & Energy Equipment Co.,Ltd., Annual General Meeting, May 21, 2024 Crystal Growth & Energy Equipment Co.,Ltd., Annual General Meeting, May 21, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Nanjing, Jiangsu China Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥25.00, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 31x in the Semiconductor industry in China. Announcement • Mar 30
Crystal Growth & Energy Equipment Co.,Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Crystal Growth & Energy Equipment Co.,Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥29.43, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 32x in the Semiconductor industry in China. Reported Earnings • Feb 28
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.57 (up from CN¥0.33 in FY 2022). Revenue: CN¥405.6m (up 83% from FY 2022). Net income: CN¥72.2m (up 109% from FY 2022). Profit margin: 18% (up from 16% in FY 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 8.7%. Earnings per share (EPS) also missed analyst estimates by 7.2%. Revenue is forecast to grow 43% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Semiconductor industry in China. Announcement • Feb 20
Crystal Growth & Energy Equipment Co.,Ltd. (SHSE:688478) announces an Equity Buyback for CNY 100 million worth of its shares. Crystal Growth & Energy Equipment Co.,Ltd. (SHSE:688478) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its shares. The shares will be repurchased at no more than CNY 56.40 per share. The purpose of the program is to use the repurchased shares for employee stock ownership plans or equity incentives. If the company fails to use the repurchased shares for the said purpose within 3 years of completion of the program, the unused shares will be cancelled. The program will be funded from company's own funds. The plan will be valid for 12 months. Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥32.43, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 26x in the Semiconductor industry in China. Simply Wall St's valuation model estimates the intrinsic value at CN¥14.04 per share. Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: CN¥0.20 (vs CN¥0.15 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.20 (up from CN¥0.15 in 3Q 2022). Revenue: CN¥125.4m (up 88% from 3Q 2022). Net income: CN¥28.3m (up 73% from 3Q 2022). Profit margin: 23% (down from 25% in 3Q 2022). Revenue is forecast to grow 49% p.a. on average during the next 3 years, compared to a 26% growth forecast for the Semiconductor industry in China. New Risk • Aug 26
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 36% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.7% average weekly change). High level of non-cash earnings (36% accrual ratio). Minor Risks Less than 3 years of financial data is available. Paying a dividend despite having no free cash flows. Reported Earnings • Aug 18
Second quarter 2023 earnings released: EPS: CN¥0.10 (vs CN¥0.013 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.10 (up from CN¥0.013 in 2Q 2022). Revenue: CN¥76.0m (up 134% from 2Q 2022). Net income: CN¥12.6m (up CN¥11.3m from 2Q 2022). Profit margin: 17% (up from 4.2% in 2Q 2022). Announcement • Jun 28
Crystal Growth & Energy Equipment Co.,Ltd. to Report First Half, 2023 Results on Aug 18, 2023 Crystal Growth & Energy Equipment Co.,Ltd. announced that they will report first half, 2023 results on Aug 18, 2023