Announcement • May 01
Winner Medical Co., Ltd. (SZSE:300888) announces an Equity Buyback for CNY 400 million worth of its shares. Winner Medical Co., Ltd. (SZSE:300888) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 400 million worth of its A shares. The shares will be repurchased at a price of not more than CNY 48 per share. The repurchased shares will be used for company's equity incentive plan or subsequent employee stock ownership plan. The shares will be repurchased out of own funds. The plan will be valid for 12 months. Price Target Changed • Apr 24
Price target decreased by 13% to CN¥48.44 Down from CN¥55.52, the current price target is an average from 4 analysts. New target price is 55% above last closing price of CN¥31.15. Stock is down 36% over the past year. The company is forecast to post earnings per share of CN¥1.71 for next year compared to CN¥1.32 last year. Reported Earnings • Apr 22
First quarter 2026 earnings released: EPS: CN¥0.43 (vs CN¥0.43 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.43 (in line with 1Q 2025). Revenue: CN¥2.68b (up 2.8% from 1Q 2025). Net income: CN¥251.5m (up 1.2% from 1Q 2025). Profit margin: 9.4% (in line with 1Q 2025). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Medical Equipment industry in China. Over the last 3 years on average, earnings per share has fallen by 30% 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. Announcement • Apr 22
Winner Medical Co., Ltd., Annual General Meeting, May 14, 2026 Winner Medical Co., Ltd., Annual General Meeting, May 14, 2026, at 14:30 China Standard Time. Location: 42F, Building 2, Huilong Business Center, North Station Community, Minzhi Subdistrict, Longhua District, Shenzhen, Guangdong China Announcement • Mar 31
Winner Medical Co., Ltd. to Report Q1, 2026 Results on Apr 22, 2026 Winner Medical Co., Ltd. announced that they will report Q1, 2026 results on Apr 22, 2026 Announcement • Dec 31
Winner Medical Co., Ltd. to Report Fiscal Year 2025 Results on Apr 22, 2026 Winner Medical Co., Ltd. announced that they will report fiscal year 2025 results on Apr 22, 2026 Reported Earnings • Oct 28
Third quarter 2025 earnings released: EPS: CN¥0.41 (vs CN¥0.29 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.41 (up from CN¥0.29 in 3Q 2024). Revenue: CN¥2.60b (up 28% from 3Q 2024). Net income: CN¥239.9m (up 42% from 3Q 2024). Profit margin: 9.2% (up from 8.3% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Medical Equipment industry in China. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
Winner Medical Co., Ltd. to Report Q3, 2025 Results on Oct 28, 2025 Winner Medical Co., Ltd. announced that they will report Q3, 2025 results on Oct 28, 2025 Price Target Changed • Aug 28
Price target decreased by 8.3% to CN¥55.52 Down from CN¥60.52, the current price target is an average from 4 analysts. New target price is 33% above last closing price of CN¥41.87. Stock is up 64% over the past year. The company is forecast to post earnings per share of CN¥1.79 for next year compared to CN¥1.19 last year. Reported Earnings • Aug 25
Second quarter 2025 earnings released: EPS: CN¥0.41 (vs CN¥0.35 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.41 (up from CN¥0.35 in 2Q 2024). Revenue: CN¥2.69b (up 27% from 2Q 2024). Net income: CN¥243.4m (up 21% from 2Q 2024). Profit margin: 9.0% (in line with 2Q 2024). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Medical Equipment industry in China. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. New Risk • Jul 04
New major risk - Revenue and earnings growth Earnings have declined by 30% 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 Risk Earnings have declined by 30% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Jul 02
Winner Medical Co., Ltd. to Report First Half, 2025 Results on Aug 22, 2025 Winner Medical Co., Ltd. announced that they will report first half, 2025 results on Aug 22, 2025 Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥41.68, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 22x in the Medical Equipment industry in China. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥36.98 per share. Declared Dividend • May 28
Dividend of CN¥0.25 announced Shareholders will receive a dividend of CN¥0.25. Ex-date: 30th May 2025 Payment date: 30th May 2025 Dividend yield will be 1.3%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (64% cash payout ratio). The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 84% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 24
Winner Medical Co., Ltd. Approves Cash Dividend for 2024 Winner Medical Co., Ltd. at its Annual General Meeting of 2024 on 21 May 2025, during which the following proposal(s) was/were approved Cash dividend/10 shares (tax included): CNY 2.50000000 for 2024. Board Change • May 07
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 3 experienced directors. No highly experienced directors. Chairman of the Board of Supervisors Tingting Zhang is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Price Target Changed • May 02
Price target increased by 11% to CN¥56.23 Up from CN¥50.73, the current price target is an average from 4 analysts. New target price is 7.7% above last closing price of CN¥52.22. Stock is up 67% over the past year. The company is forecast to post earnings per share of CN¥1.87 for next year compared to CN¥1.19 last year. Reported Earnings • Apr 30
Third quarter 2024 earnings released: EPS: CN¥0.29 (vs CN¥2.49 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.29 (down from CN¥2.49 in 3Q 2023). Revenue: CN¥2.04b (up 17% from 3Q 2023). Net income: CN¥168.8m (down 89% from 3Q 2023). Profit margin: 8.3% (down from 84% in 3Q 2023). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Medical Equipment industry in China. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Apr 29
Winner Medical Co., Ltd., Annual General Meeting, May 21, 2025 Winner Medical Co., Ltd., Annual General Meeting, May 21, 2025, at 14:00 China Standard Time. Announcement • Mar 31
Winner Medical Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Winner Medical Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Price Target Changed • Mar 21
Price target increased by 8.4% to CN¥45.11 Up from CN¥41.61, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of CN¥45.26. Stock is up 26% over the past year. The company is forecast to post earnings per share of CN¥1.42 for next year compared to CN¥0.98 last year. Buy Or Sell Opportunity • Feb 10
Now 21% undervalued Over the last 90 days, the stock has risen 12% to CN¥36.90. The fair value is estimated to be CN¥46.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jan 13
Now 21% undervalued Over the last 90 days, the stock has risen 30% to CN¥37.52. The fair value is estimated to be CN¥47.33, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Announcement • Dec 31
Winner Medical Co., Ltd. to Report Fiscal Year 2024 Results on Apr 24, 2025 Winner Medical Co., Ltd. announced that they will report fiscal year 2024 results on Apr 24, 2025 Price Target Changed • Dec 13
Price target increased by 11% to CN¥39.33 Up from CN¥35.50, the current price target is an average from 4 analysts. New target price is 7.1% below last closing price of CN¥42.36. Stock is up 16% over the past year. The company is forecast to post earnings per share of CN¥1.43 for next year compared to CN¥0.98 last year. Buy Or Sell Opportunity • Nov 22
Now 23% undervalued Over the last 90 days, the stock has risen 44% to CN¥33.90. The fair value is estimated to be CN¥43.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.29 (vs CN¥2.49 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.29 (down from CN¥2.49 in 3Q 2023). Revenue: CN¥2.04b (up 17% from 3Q 2023). Net income: CN¥168.8m (down 89% from 3Q 2023). Profit margin: 8.3% (down from 84% in 3Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Medical Equipment industry in China. 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. Buy Or Sell Opportunity • Oct 29
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to CN¥31.90. The fair value is estimated to be CN¥26.33, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to CN¥28.92, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 19x in the Medical Equipment industry in China. Total loss to shareholders of 45% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥32.57 per share. Announcement • Sep 30
Winner Medical Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Winner Medical Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥28.72, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 18x in the Medical Equipment industry in China. Total loss to shareholders of 47% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥32.30 per share. Major Estimate Revision • Sep 27
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from CN¥8.60b to CN¥8.96b. EPS estimate increased from CN¥1.28 to CN¥1.44 per share. Net income forecast to grow 240% next year vs 53% growth forecast for Medical Equipment industry in China. Consensus price target of CN¥35.50 unchanged from last update. Share price rose 19% to CN¥28.72 over the past week. Announcement • Sep 26
Winner Medical Co., Ltd. (SZSE:300888) acquired 75.2% stake in Global Resources International, Inc. for $120 million. Winner Medical Co., Ltd. (SZSE:300888) acquired 75.2% stake in Global Resources International, Inc. for $120 million on September 23, 2024. The transaction is in cash and valued at $120 million. In 2023, GRI's revenue exceeded $150 million, with its main business spread across the U.S., Europe, and Asia.
Winner Medical Co., Ltd. (SZSE:300888) completed the acquisition of 75.2% stake in Global Resources International, Inc. on September 23, 2024. Announcement • Sep 25
Winner Medical Co., Ltd. Announces Interim Cash Dividend of the Year 2024 of A Shares, Payable on 30 September 2024 Winner Medical Co., Ltd. announced interim cash dividend/10 shares (tax included) of CNY 4.00000000 for year 2024 of A shares. Record date is 27 September 2024. Ex-date is 30 September 2024. Payment date is 30 September 2024. Announcement • Sep 21
Winner Medical Co., Ltd. Approves Interim Dividend for the Year 2024 Winner Medical Co., Ltd. approved at its EGM held on 19 September 2024 the interim cash dividend/10 shares (tax included) of CNY 4.00000000 for the year 2024. Major Estimate Revision • Sep 03
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥8.81b to CN¥8.60b. EPS estimate also fell from CN¥1.56 per share to CN¥1.34 per share. Net income forecast to grow 208% next year vs 46% growth forecast for Medical Equipment industry in China. Consensus price target down from CN¥37.77 to CN¥33.67. Share price rose 8.1% to CN¥25.35 over the past week. Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: CN¥0.35 (vs CN¥0.52 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.35 (down from CN¥0.52 in 2Q 2023). Revenue: CN¥2.12b (up 11% from 2Q 2023). Net income: CN¥201.7m (down 34% from 2Q 2023). Profit margin: 9.5% (down from 16% in 2Q 2023). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Medical Equipment industry in China. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Board Change • Aug 22
High number of new directors Independent Director Zhifang Wang was the last director to join the board, commencing their role in 2024. Announcement • Jun 29
Winner Medical Co., Ltd. to Report First Half, 2024 Results on Aug 20, 2024 Winner Medical Co., Ltd. announced that they will report first half, 2024 results on Aug 20, 2024 Declared Dividend • May 30
Dividend of CN¥0.50 announced Shareholders will receive a dividend of CN¥0.50. Ex-date: 4th June 2024 Payment date: 4th June 2024 Dividend yield will be 1.7%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (77% earnings payout ratio) and cash flows (74% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 123% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 29
Winner Medical Co., Ltd. Announces Final Cash Dividend on A Shares for 2023, Payable on 04 June 2024 Winner Medical Co., Ltd. announced 2023 final profit distribution plan to be implemented (A shares): Cash dividend per 10 shares (tax included) of CNY 5.00000000. Record date is 03 June 2024. Ex-date is 04 June 2024. Payment date is 04 June 2024. Price Target Changed • May 09
Price target decreased by 11% to CN¥37.77 Down from CN¥42.33, the current price target is an average from 3 analysts. New target price is 20% above last closing price of CN¥31.50. Stock is down 26% over the past year. The company is forecast to post earnings per share of CN¥1.55 for next year compared to CN¥0.98 last year. Major Estimate Revision • May 02
Consensus EPS estimates fall by 20% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from CN¥2.16 to CN¥1.72. Revenue forecast unchanged from CN¥9.88b at last update. Net income forecast to grow 226% next year vs 49% growth forecast for Medical Equipment industry in China. Consensus price target of CN¥42.33 unchanged from last update. Share price was steady at CN¥31.30 over the past week. Announcement • Apr 27
Winner Medical Co., Ltd. Proposes Final Cash Dividend for the Year 2023 Winner Medical Co., Ltd. proposed final cash dividend/10 shares (tax included) is CNY 5.0000000 for the year 2023. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.31 (vs CN¥0.64 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.31 (down from CN¥0.64 in 1Q 2023). Revenue: CN¥1.91b (down 19% from 1Q 2023). Net income: CN¥182.4m (down 52% from 1Q 2023). Profit margin: 9.6% (down from 16% in 1Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Medical Equipment industry in China. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 32% per year, which means it has not declined as severely as earnings. Announcement • Apr 26
Winner Medical Co., Ltd., Annual General Meeting, May 21, 2024 Winner Medical Co., Ltd., Annual General Meeting, May 21, 2024, at 15:00 China Standard Time. Location: 42F, Building 2, Huilong Business Center, Beizhan Community, Minzhi Subdistrict, Longhua District, Shenzhen, Guangdong China Announcement • Mar 30
Winner Medical Co., Ltd. to Report Q1, 2024 Results on Apr 25, 2024 Winner Medical Co., Ltd. announced that they will report Q1, 2024 results on Apr 25, 2024 Buy Or Sell Opportunity • Feb 29
Now 21% overvalued Over the last 90 days, the stock has fallen 7.9% to CN¥35.67. The fair value is estimated to be CN¥29.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.4% over the last 3 years. Earnings per share has declined by 36%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to decline by 45% in the next 2 years. Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥38.24, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 19x in the Medical Equipment industry in China. Total loss to shareholders of 72% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥27.23 per share. Buy Or Sell Opportunity • Feb 06
Now 26% overvalued Over the last 90 days, the stock has fallen 15% to CN¥34.21. The fair value is estimated to be CN¥27.13, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.4% over the last 3 years. Earnings per share has declined by 36%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to decline by 45% in the next 2 years. Announcement • Jan 31
Winner Medical Co., Ltd. (SZSE:300888) announces an Equity Buyback for CNY 200 million worth of its shares. Winner Medical Co., Ltd. (SZSE:300888) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its A shares. The shares will be purchased at a price not exceeding CNY 46 per share. The repurchased shares will be used for employee stock ownership plans or equity incentive plans. The program will be valid for 12 months. Announcement • Dec 29
Winner Medical Co., Ltd. to Report Fiscal Year 2023 Results on Apr 25, 2024 Winner Medical Co., Ltd. announced that they will report fiscal year 2023 results on Apr 25, 2024 Price Target Changed • Oct 26
Price target decreased by 9.2% to CN¥50.82 Down from CN¥55.94, the current price target is an average from 4 analysts. New target price is 32% above last closing price of CN¥38.48. Stock is down 21% over the past year. The company is forecast to post earnings per share of CN¥4.10 for next year compared to CN¥2.79 last year. Reported Earnings • Oct 24
Third quarter 2023 earnings released: EPS: CN¥2.49 (vs CN¥0.61 in 3Q 2022) Third quarter 2023 results: EPS: CN¥2.49 (up from CN¥0.61 in 3Q 2022). Revenue: CN¥1.74b (down 30% from 3Q 2022). Net income: CN¥1.47b (up 310% from 3Q 2022). Profit margin: 84% (up from 14% in 3Q 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Medical Equipment industry in China. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings. New Risk • Oct 24
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 14% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Earnings are forecast to decline by an average of 14% per year for the foreseeable future. High level of non-cash earnings (21% accrual ratio). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Sep 30
Winner Medical Co., Ltd. to Report Q3, 2023 Results on Oct 24, 2023 Winner Medical Co., Ltd. announced that they will report Q3, 2023 results on Oct 24, 2023 Major Estimate Revision • Aug 22
Consensus EPS estimates increase by 34%, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from CN¥11.4b to CN¥10.5b. EPS estimate rose from CN¥2.93 to CN¥3.93. Net income forecast to grow 43% next year vs 34% growth forecast for Medical Equipment industry in China. Consensus price target broadly unchanged at CN¥55.94. Share price fell 2.6% to CN¥40.72 over the past week. Reported Earnings • Aug 16
Second quarter 2023 earnings released: EPS: CN¥0.52 (vs CN¥0.92 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.52 (down from CN¥0.92 in 2Q 2022). Revenue: CN¥1.91b (down 33% from 2Q 2022). Net income: CN¥304.7m (down 43% from 2Q 2022). Profit margin: 16% (down from 19% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Medical Equipment industry in China. Announcement • Jul 01
Winner Medical Co., Ltd. to Report First Half, 2023 Results on Aug 16, 2023 Winner Medical Co., Ltd. announced that they will report first half, 2023 results on Aug 16, 2023 Major Estimate Revision • Jun 21
Consensus EPS estimates increase by 38%, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from CN¥11.7b to CN¥11.6b. EPS estimate rose from CN¥2.03 to CN¥2.80. Net income forecast to grow 3.4% next year vs 33% growth forecast for Medical Equipment industry in China. Consensus price target broadly unchanged at CN¥55.94. Share price fell 5.3% to CN¥40.73 over the past week. Announcement • May 30
Winner Medical Co., Ltd. Announces Final Profit Distribution Plan to Be Implemented on A Shares for the Year 2022, Payable on 02 June 2023 Winner Medical Co., Ltd. announced final profit distribution plan to be implemented on A shares as cash dividend per ten shares (tax included) of CNY 19.00000000 for the year 2022, payable on 02 June 2023. Record date is 01 June 2023. Ex-date is 02 June 2023. Announcement • May 18
Winner Medical Co., Ltd. Approves Cash Dividend for the Year 2022 Winner Medical Co., Ltd. announced at Annual General Meeting of 2022 held on 16 May 2023, the shareholders approved cash dividend of CNY 19.00000000 per ten shares (tax included) for the year 2022. Price Target Changed • May 04
Price target decreased by 9.3% to CN¥84.33 Down from CN¥93.00, the current price target is an average from 3 analysts. New target price is 38% above last closing price of CN¥61.03. Stock is up 5.4% over the past year. The company is forecast to post earnings per share of CN¥4.02 for next year compared to CN¥3.90 last year. Reported Earnings • Apr 26
First quarter 2023 earnings released: EPS: CN¥0.89 (vs CN¥0.84 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.89 (up from CN¥0.84 in 1Q 2022). Revenue: CN¥2.35b (up 1.3% from 1Q 2022). Net income: CN¥376.9m (up 5.6% from 1Q 2022). Profit margin: 16% (in line with 1Q 2022). Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Medical Equipment industry in China. Buying Opportunity • Mar 03
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be CN¥86.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has declined by 6.4%. Revenue is forecast to grow by 33% in 2 years. Earnings is forecast to grow by 51% in the next 2 years. Buying Opportunity • Dec 06
Now 20% undervalued Over the last 90 days, the stock is up 6.1%. The fair value is estimated to be CN¥90.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has declined by 6.4%. Revenue is forecast to grow by 31% in 2 years. Earnings is forecast to grow by 47% in the next 2 years. Price Target Changed • Nov 16
Price target increased to CN¥88.97 Up from CN¥77.75, the current price target is an average from 3 analysts. New target price is 26% above last closing price of CN¥70.78. Stock is down 12% over the past year. The company is forecast to post earnings per share of CN¥3.62 for next year compared to CN¥2.91 last year. Board Change • Nov 16
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 2 experienced directors. No highly experienced directors. Chairman of the Board of Supervisors Tingting Zhang is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Buying Opportunity • Nov 11
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 5.8%. The fair value is estimated to be CN¥90.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has declined by 6.4%. Revenue is forecast to grow by 31% in 2 years. Earnings is forecast to grow by 47% in the next 2 years. Reported Earnings • Oct 25
Third quarter 2022 earnings released: EPS: CN¥0.85 (vs CN¥0.81 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.85 (up from CN¥0.81 in 3Q 2021). Revenue: CN¥2.48b (up 41% from 3Q 2021). Net income: CN¥357.5m (up 4.2% from 3Q 2021). Profit margin: 14% (down from 20% in 3Q 2021). 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 22% growth forecast for the Medical Equipment industry in China. Reported Earnings • Aug 19
Second quarter 2022 earnings released: EPS: CN¥1.28 (vs CN¥0.66 in 2Q 2021) Second quarter 2022 results: EPS: CN¥1.28 (up from CN¥0.66 in 2Q 2021). Revenue: CN¥2.84b (up 58% from 2Q 2021). Net income: CN¥535.7m (up 91% from 2Q 2021). Profit margin: 19% (up from 16% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 16%, compared to a 26% growth forecast for the Medical Equipment industry in China. Price Target Changed • Jul 16
Price target increased to CN¥84.00 Up from CN¥77.75, the current price target is an average from 6 analysts. New target price is 14% above last closing price of CN¥73.44. Stock is down 30% over the past year. The company is forecast to post earnings per share of CN¥3.55 for next year compared to CN¥2.91 last year. Announcement • May 26
Winner Medical Co., Ltd. Announces Final Profit Distribution Plan to Be Implemented on A Shares for the Year 2021, Payable on May 27, 2022 Winner Medical Co., Ltd. announced final profit distribution plan to be implemented on A shares as cash dividend per ten shares (tax included) of CNY 9.00000000 for the year 2021, payable on 27 May 2022. Record date: 26 May 2022. Ex-date: 27 May 2022. Net cash dividend per ten shares after tax: CNY 8.10000000(CNY 9.00000000- CNY 0.90000000). Announcement • May 17
Winner Medical Co., Ltd. Announces Dividend for 2021 Winner Medical Co., Ltd. held its Annual General Meeting of 2021 on 13 May 2022, approved Cash dividend/10 shares (tax included): CNY9.00000000. Price Target Changed • May 07
Price target decreased to CN¥84.58 Down from CN¥97.71, the current price target is an average from 5 analysts. New target price is 47% above last closing price of CN¥57.38. Stock is down 55% over the past year. The company is forecast to post earnings per share of CN¥3.39 for next year compared to CN¥2.91 last year. Major Estimate Revision • Apr 28
Consensus revenue estimates fall by 11% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥10.9b to CN¥9.67b. EPS estimate fell from CN¥4.32 to CN¥3.45 per share. Net income forecast to grow 48% next year vs 34% growth forecast for Medical Equipment industry in China. Consensus price target down from CN¥97.71 to CN¥94.38. Share price fell 9.9% to CN¥54.53 over the past week. Reported Earnings • Apr 27
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CN¥0.84 (down from CN¥1.13 in 1Q 2021). Revenue: CN¥2.32b (up 2.4% from 1Q 2021). Net income: CN¥357.1m (down 26% from 1Q 2021). Profit margin: 15% (down from 21% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 5.4%. Earnings per share (EPS) also missed analyst estimates by 17%. Over the next year, revenue is forecast to grow 29%, compared to a 25% growth forecast for the industry in China. Board Change • Apr 27
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. Shareholder Supervisor Tingting Zhang is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Apr 24
Winner Medical Co., Ltd., Annual General Meeting, May 13, 2022 Winner Medical Co., Ltd., Annual General Meeting, May 13, 2022, at 15:00 China Standard Time. Agenda: To consider 2021 work report of the board of directors;to consider 2021 work report of the supervisory committee;to consider 2021 annual accounts;to consider 2021 annual report and its summary;to consider 2021 profit distribution plan;to consider Permanently supplementing the working capital with some surplus raised funds;to consider Extension of the construction period and adjustment of the implementing method of some projects financed with raised funds and permanently supplementing the working capital;to consider Purchase of wealth management products with idle proprietary funds;to consider 2021 confirmation of remuneration for non-independent directors;to consider 2021 confirmation of remuneration for supervisors;to consider Reappointment of 2022 audit firm;to consider Adjustment of the Company's business scope and amendments to the Company's articles of association;and to consider Cancellation of some stocks granted to plan participants (not attributed). Announcement • Apr 23
Winner Medical Co., Ltd. Announces Final Dividend Proposal for 2021 Winner Medical Co., Ltd. announced on 22 April 2022 the profit distribution proposal for 2021 as follows: Cash dividend/10 shares (tax included) of CNY 9.00000000. Announcement • Apr 13
Winner Medical Co., Ltd. (SZSE:300888) agreed to acquire 55% stake in Zhejiang Longtai Medical Technology Co., Ltd. from Wu Kangping, Huang Lepei and Wu Di for CNY 727.54 million. Winner Medical Co., Ltd. (SZSE:300888) agreed to acquire 55% stake in Zhejiang Longtai Medical Technology Co., Ltd. from Wu Kangping, Huang Lepei and Wu Di for CNY 727.54 million on April 8, 2022. As on December 31, 2021, Zhejiang Longtai Medical Technology Co., Ltd. has total assets of CNY 672.4711 million, Operating income of CNY 354.6924 million and Net income CNY 86.3739 million. Winner Medical's board of directors approved the transaction. Price Target Changed • Apr 12
Price target decreased to CN¥97.71 Down from CN¥108, the current price target is an average from 5 analysts. New target price is 59% above last closing price of CN¥61.32. Stock is down 55% over the past year. The company is forecast to post earnings per share of CN¥3.51 for next year compared to CN¥9.80 last year. Announcement • Feb 22
Winner Medical Receives U.S. FDA Market Access for the Silver Alginate Dressing Recently, the silver alginate dressing of Winner Medical receives U.S. FDA market access (510K Number: K202982), marking that this product has obtained the qualification to get into the access US market and Winner Medical will further expand its business in North America. It is understood that the silver alginate dressing is composed of calcium alginate and silver particles, which can absorb wound exudate and continuously release silver ions in the presence of wound fluid, and it can effectively kill and inhibit the microbial colonization of wounds. The antibacterial rate is 99.99%, and it can be used for up to 7 days. The alginate absorbs the wound exudate and forms a gel to maintain the moist environment of the wound. This product has very distinctive features. It forms a gel after absorbing wound exudate to maintain a moist healing environment on the wound surface; it is broad-spectrum antibacterial and continuously releases silver ions with an effect of 99.99% and can be used for up to 7 days; silver alginate dressing is suitable for moderate to severe infected wounds, including postoperative wounds, trauma wounds, calf ulcers, pressure ulcers, diabetic ulcers, grafts and donor sites. The FDA's approval of Winner Medical's silver alginate series products will be helpful to further improve market competitiveness in this field, and will play a positive role in promotion and product sales in overseas market. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥76.80, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 27x in the Medical Equipment industry in China. Total loss to shareholders of 61% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥130 per share. Price Target Changed • Oct 28
Price target decreased to CN¥110 Down from CN¥120, the current price target is an average from 6 analysts. New target price is 48% above last closing price of CN¥74.50. Stock is down 51% over the past year. The company is forecast to post earnings per share of CN¥3.74 for next year compared to CN¥9.80 last year.