Reported Earnings • Apr 28
First quarter 2026 earnings released: EPS: CN¥0.03 (vs CN¥0.04 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.03 (down from CN¥0.04 in 1Q 2025). Revenue: CN¥197.9m (down 4.7% from 1Q 2025). Net income: CN¥11.7m (down 21% from 1Q 2025). Profit margin: 5.9% (down from 7.2% in 1Q 2025). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Software 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 20% per year, which means it has not declined as severely as earnings. Announcement • Mar 31
Sichuan Jiuyuan Yinhai Software.Co.,Ltd to Report Q1, 2026 Results on Apr 28, 2026 Sichuan Jiuyuan Yinhai Software.Co.,Ltd announced that they will report Q1, 2026 results on Apr 28, 2026 Reported Earnings • Mar 27
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.19 (up from CN¥0.18 in FY 2024). Revenue: CN¥1.23b (down 8.0% from FY 2024). Net income: CN¥76.9m (up 4.9% from FY 2024). Profit margin: 6.2% (up from 5.5% in FY 2024). Revenue missed analyst estimates by 18%. Earnings per share (EPS) also missed analyst estimates by 27%. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Announcement • Mar 26
Sichuan Jiuyuan Yinhai Software.Co.,Ltd, Annual General Meeting, Apr 17, 2026 Sichuan Jiuyuan Yinhai Software.Co.,Ltd, Annual General Meeting, Apr 17, 2026, at 14:30 China Standard Time. Location: 25F, Yinhan Xinzuo, Sanse Road, Jinjiang District, Chengdou, Sichuan China Buy Or Sell Opportunity • Jan 12
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to CN¥21.74. The fair value is estimated to be CN¥17.12, 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. Earnings per share has declined by 36%. Revenue is forecast to grow by 36% in 2 years. Earnings are forecast to grow by 71% in the next 2 years. Announcement • Dec 31
Sichuan Jiuyuan Yinhai Software.Co.,Ltd to Report Fiscal Year 2025 Results on Mar 27, 2026 Sichuan Jiuyuan Yinhai Software.Co.,Ltd announced that they will report fiscal year 2025 results on Mar 27, 2026 Price Target Changed • Nov 22
Price target increased by 11% to CN¥25.90 Up from CN¥23.25, the current price target is provided by 1 analyst. New target price is 39% above last closing price of CN¥18.61. Stock is down 9.7% over the past year. The company is forecast to post earnings per share of CN¥0.35 for next year compared to CN¥0.18 last year. Reported Earnings • Oct 27
Third quarter 2025 earnings released: EPS: CN¥0.03 (vs CN¥0.02 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.03 (up from CN¥0.02 in 3Q 2024). Revenue: CN¥247.7m (down 9.4% from 3Q 2024). Net income: CN¥12.8m (up 69% from 3Q 2024). Profit margin: 5.2% (up from 2.8% in 3Q 2024). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software 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 increased by 3% per year, which means it is well ahead of earnings. Announcement • Sep 30
Sichuan Jiuyuan Yinhai Software.Co.,Ltd to Report Q3, 2025 Results on Oct 27, 2025 Sichuan Jiuyuan Yinhai Software.Co.,Ltd announced that they will report Q3, 2025 results on Oct 27, 2025 Announcement • Jul 02
Sichuan Jiuyuan Yinhai Software.Co.,Ltd to Report First Half, 2025 Results on Aug 25, 2025 Sichuan Jiuyuan Yinhai Software.Co.,Ltd announced that they will report first half, 2025 results on Aug 25, 2025 Declared Dividend • Jun 09
Dividend increased to CN¥0.15 Dividend of CN¥0.15 is 25% higher than last year. Ex-date: 13th June 2025 Payment date: 13th June 2025 Dividend yield will be 0.8%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (78% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 4.0% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 130% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 22
Sichuan Jiuyuan Yinhai Software.Co.,Ltd Approves Cash Dividend for the Year 2024 Sichuan Jiuyuan Yinhai Software.Co.,Ltd at its Annual General Meeting of 2024 held on 18 April 2025, approved 2024 profit distribution plan as: Cash dividend/10 shares (tax included): CNY 1.50000000. Announcement • Mar 31
Sichuan Jiuyuan Yinhai Software.Co.,Ltd to Report Q1, 2025 Results on Apr 29, 2025 Sichuan Jiuyuan Yinhai Software.Co.,Ltd announced that they will report Q1, 2025 results on Apr 29, 2025 Announcement • Mar 25
Sichuan Jiuyuan Yinhai Software.Co.,Ltd Proposes Final Cash Dividend for 2024 Sichuan Jiuyuan Yinhai Software.Co.,Ltd proposed final cash dividend, on 24 March 2025, the profit distribution of CNY 1.5 per 10 shares (tax included) for 2024. Reported Earnings • Mar 24
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.18 (down from CN¥0.41 in FY 2023). Revenue: CN¥1.34b (flat on FY 2023). Net income: CN¥73.3m (down 56% from FY 2023). Profit margin: 5.5% (down from 13% in FY 2023). Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 61%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Software 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 increased by 7% per year, which means it is well ahead of earnings. Announcement • Mar 24
Sichuan Jiuyuan Yinhai Software.Co.,Ltd, Annual General Meeting, Apr 18, 2025 Sichuan Jiuyuan Yinhai Software.Co.,Ltd, Annual General Meeting, Apr 18, 2025, at 14:30 China Standard Time. Location: 25F, Yinhan Xinzuo, Sanse Road, Jinjiang District, Chengdu, Sichuan China New Risk • Feb 14
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 8.5% 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 (8.5% average weekly change). Profit margins are more than 30% lower than last year (6.0% net profit margin). Announcement • Dec 31
Sichuan Jiuyuan Yinhai Software.Co.,Ltd to Report Fiscal Year 2024 Results on Mar 24, 2025 Sichuan Jiuyuan Yinhai Software.Co.,Ltd announced that they will report fiscal year 2024 results on Mar 24, 2025 New Risk • Oct 28
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 23% 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 Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.0% net profit margin). Reported Earnings • Oct 28
Third quarter 2024 earnings released: EPS: CN¥0.02 (vs CN¥0.07 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.02 (down from CN¥0.07 in 3Q 2023). Revenue: CN¥273.5m (down 4.0% from 3Q 2023). Net income: CN¥7.58m (down 74% from 3Q 2023). Profit margin: 2.8% (down from 10% in 3Q 2023). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Announcement • Sep 30
Sichuan Jiuyuan Yinhai Software.Co.,Ltd to Report Q3, 2024 Results on Oct 28, 2024 Sichuan Jiuyuan Yinhai Software.Co.,Ltd announced that they will report Q3, 2024 results on Oct 28, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥15.61, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 31x in the Software industry in China. Total returns to shareholders of 2.9% over the past three years. Major Estimate Revision • Sep 03
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¥1.58b to CN¥1.51b. EPS estimate also fell from CN¥0.525 per share to CN¥0.47 per share. Net income forecast to grow 127% next year vs 59% growth forecast for Software industry in China. Consensus price target down from CN¥28.79 to CN¥21.03. Share price rose 3.3% to CN¥12.36 over the past week. Price Target Changed • Aug 29
Price target decreased by 27% to CN¥21.03 Down from CN¥28.79, the current price target is an average from 2 analysts. New target price is 70% above last closing price of CN¥12.35. Stock is down 62% over the past year. The company is forecast to post earnings per share of CN¥0.46 for next year compared to CN¥0.41 last year. Reported Earnings • Aug 28
Second quarter 2024 earnings released: CN¥0.007 loss per share (vs CN¥0.17 profit in 2Q 2023) Second quarter 2024 results: CN¥0.007 loss per share (down from CN¥0.17 profit in 2Q 2023). Revenue: CN¥199.1m (down 40% from 2Q 2023). Net loss: CN¥2.20m (down 103% from profit in 2Q 2023). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Jun 29
Sichuan Jiuyuan Yinhai Software.Co.,Ltd to Report First Half, 2024 Results on Aug 28, 2024 Sichuan Jiuyuan Yinhai Software.Co.,Ltd announced that they will report first half, 2024 results on Aug 28, 2024 Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: CN¥0.03 (vs CN¥0.04 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.03 (down from CN¥0.04 in 1Q 2023). Revenue: CN¥195.5m (up 4.2% from 1Q 2023). Net income: CN¥13.4m (down 20% from 1Q 2023). Profit margin: 6.9% (down from 8.9% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. New Risk • Apr 10
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 145% Dividend yield: 0.6% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 Risk High level of non-cash earnings (20% accrual ratio). Minor Risk Dividend is not well covered by cash flows (145% cash payout ratio). Announcement • Apr 05
Sichuan Jiuyuan Yinhai Software.Co.,Ltd Proposes Final Cash Dividend for the Year 2023 Sichuan Jiuyuan Yinhai Software.Co.,Ltd proposed final cash dividend of CNY 1.20 per 10 shares for the year 2023. Announcement • Apr 03
Sichuan Jiuyuan Yinhai Software.Co.,Ltd, Annual General Meeting, Apr 23, 2024 Sichuan Jiuyuan Yinhai Software.Co.,Ltd, Annual General Meeting, Apr 23, 2024, at 14:30 China Standard Time. Location: 25F, Yinhan Xinzuo, Sanse Road, Jinjiang District, Chengdu, Sichuan China Reported Earnings • Apr 03
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.41 (down from CN¥0.45 in FY 2022). Revenue: CN¥1.35b (up 5.0% from FY 2022). Net income: CN¥167.9m (down 8.8% from FY 2022). Profit margin: 13% (down from 14% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 23%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Announcement • Mar 30
Sichuan Jiuyuan Yinhai Software.Co.,Ltd to Report Q1, 2024 Results on Apr 25, 2024 Sichuan Jiuyuan Yinhai Software.Co.,Ltd announced that they will report Q1, 2024 results on Apr 25, 2024 Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥17.00, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 28x in the Software industry in China. Total returns to shareholders of 40% over the past three years. New Risk • Jan 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 6.1% 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. Announcement • Dec 30
Sichuan Jiuyuan Yinhai Software.Co.,Ltd to Report Fiscal Year 2023 Results on Mar 18, 2024 Sichuan Jiuyuan Yinhai Software.Co.,Ltd announced that they will report fiscal year 2023 results on Mar 18, 2024 Major Estimate Revision • Dec 01
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from CN¥1.55b to CN¥1.57b. EPS estimate increased from CN¥0.537 to CN¥0.597 per share. Net income forecast to grow 65% next year vs 112% growth forecast for Software industry in China. Consensus price target of CN¥29.87 unchanged from last update. Share price was steady at CN¥27.00 over the past week. Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.07 (vs CN¥0.11 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.07 (down from CN¥0.11 in 3Q 2022). Revenue: CN¥284.8m (up 20% from 3Q 2022). Net income: CN¥29.1m (down 34% from 3Q 2022). Profit margin: 10% (down from 19% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • Sep 30
Sichuan Jiuyuan Yinhai Software.Co.,Ltd to Report Q3, 2023 Results on Oct 30, 2023 Sichuan Jiuyuan Yinhai Software.Co.,Ltd announced that they will report Q3, 2023 results on Oct 30, 2023 Valuation Update With 7 Day Price Move • Sep 21
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥25.59, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 37x in the Software industry in China. Total returns to shareholders of 56% over the past three years. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥34.41, the stock trades at a forward P/E ratio of 51x. Average forward P/E is 48x in the Software industry in China. Total returns to shareholders of 62% over the past three years. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥31.19, the stock trades at a forward P/E ratio of 45x. Average forward P/E is 41x in the Software industry in China. Total returns to shareholders of 50% over the past three years. Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to CN¥29.76, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 40x in the Software industry in China. Total returns to shareholders of 31% over the past three years. Announcement • May 11
Sichuan Jiuyuan Yinhai Software.Co.,Ltd Announces Final Dividend on A Shares for the Year 2022, Payable on May 17, 2023 Sichuan Jiuyuan Yinhai Software.Co.,Ltd announced final cash dividend/10 shares (tax included) of CNY 1.00000000 on A shares for the year 2022. Record date is May 16, 2023. Ex-date is May 17, 2023. Payment date is May 17, 2023. Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥29.82, the stock trades at a forward P/E ratio of 48x. Average forward P/E is 41x in the Software industry in China. Total returns to shareholders of 32% over the past three years. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to CN¥31.15, the stock trades at a forward P/E ratio of 50x. Average forward P/E is 43x in the Software industry in China. Total returns to shareholders of 42% over the past three years. Reported Earnings • Mar 17
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥0.45 (down from CN¥0.54 in FY 2021). Revenue: CN¥1.28b (down 1.8% from FY 2021). Net income: CN¥184.2m (down 16% from FY 2021). Profit margin: 14% (down from 17% in FY 2021). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 29%. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥21.93, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 39x in the Software industry in China. Total returns to shareholders of 1.6% over the past three years. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥18.72, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 36x in the Software industry in China. Total loss to shareholders of 4.5% over the past three years. Price Target Changed • Nov 16
Price target decreased to CN¥19.98 Down from CN¥22.12, the current price target is provided by 1 analyst. New target price is 15% above last closing price of CN¥17.37. Stock is up 19% over the past year. The company is forecast to post earnings per share of CN¥0.67 for next year compared to CN¥0.54 last year. Board Change • Nov 16
High number of new and inexperienced directors There are 10 new directors who have joined the board in the last 3 years. The company's board is composed of: 10 new directors. 1 experienced director. 1 highly experienced director. Supervisor Xin You is the most experienced director on the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥17.35, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 30x in the Software industry in China. Total loss to shareholders of 5.1% over the past three years. Reported Earnings • Oct 26
Third quarter 2022 earnings released: EPS: CN¥0.11 (vs CN¥0.089 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.11 (up from CN¥0.089 in 3Q 2021). Revenue: CN¥237.4m (up 4.2% from 3Q 2021). Net income: CN¥44.1m (up 23% from 3Q 2021). Profit margin: 19% (up from 16% in 3Q 2021). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥14.69, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 26x in the Software industry in China. Total loss to shareholders of 22% over the past three years. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: CN¥0.16 (vs CN¥0.16 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.16 (vs CN¥0.16 in 2Q 2021). Revenue: CN¥273.7m (up 4.0% from 2Q 2021). Net income: CN¥65.2m (down 7.1% from 2Q 2021). Profit margin: 24% (down from 27% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 32%, compared to a 32% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥15.02, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 27x in the Software industry in China. Total returns to shareholders of 6.1% over the past three years. Announcement • May 20
Sichuan Jiuyuan Yinhai Software Co.,Ltd. Approves Final Profit Distribution Plan for 2021, Payable on May 26, 2022 Sichuan Jiuyuan Yinhai Software Co.,Ltd approved 2021 final profit distribution plan as Cash dividend/10 shares (tax included) is CNY 2.00000000. Record date is 25 May 2022. Ex-date is 26 May 2022. Payment date is 26 May 2022. 10% withholding tax on cash dividend will be deducted in CNY within the cash dividend receivable. Net cash dividend/10 shares after tax: CNY 1.80000000(CNY 2.00000000- CNY 0.20000000). Reported Earnings • Apr 27
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CN¥0.05 (vs CN¥0.05 in 1Q 2021). Revenue: CN¥149.0m (up 7.1% from 1Q 2021). Net income: CN¥15.8m (up 5.0% from 1Q 2021). Profit margin: 11% (in line with 1Q 2021). Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 18%. Over the next year, revenue is forecast to grow 29%, compared to a 31% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Board Change • Apr 27
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. 5 experienced directors. No highly experienced directors. Supervisor Fei Fan is the most experienced director on the board, commencing their role in 2014. 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 12
Sichuan Jiuyuan Yinhai Software Co.,Ltd. Approves Cash Dividend Sichuan Jiuyuan Yinhai Software Co.,Ltd announced that at the Annual General Meeting held on 08 April 2022, approved cash dividend per ten shares (tax included) of CNY 2.00000000. Buying Opportunity • Mar 15
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 7.9%. The fair value is estimated to be CN¥26.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% per annum over the last 3 years. Earnings per share has grown by 20% per annum over the last 3 years. Reported Earnings • Feb 22
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥0.69 (up from CN¥0.59 in FY 2020). Revenue: CN¥1.31b (up 13% from FY 2020). Net income: CN¥218.0m (up 17% from FY 2020). Profit margin: 17% (in line with FY 2020). Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 18%. Over the next year, revenue is forecast to grow 44%, compared to a 33% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥25.96, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 32x in the Software industry in China. Total returns to shareholders of 107% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥26.69 per share. Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥23.41, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 31x in the Software industry in China. Total returns to shareholders of 78% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥26.94 per share. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.12 (vs CN¥0.098 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: CN¥227.8m (up 21% from 3Q 2020). Net income: CN¥35.8m (up 16% from 3Q 2020). Profit margin: 16% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 24
Second quarter 2021 earnings released: EPS CN¥0.21 (vs CN¥0.12 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥263.2m (up 30% from 2Q 2020). Net income: CN¥70.2m (up 48% from 2Q 2020). Profit margin: 27% (up from 23% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • May 13
Sichuan Jiuyuan Yinhai Software Co.,Ltd Announces the Implementation of Final Distribution Plan for A Shares for the Year 2020, Payable on 20 May 2021 Sichuan Jiuyuan Yinhai Software Co.,Ltd announced 2020 final profit distribution plan to be implemented (A shares) as cash dividend/10 shares (tax included) of CNY 1.50000000 for the year 2020. Record date is 19 May 2021. Ex-date is 20 May 2021 and Payment date is 20 May 2021. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS CN¥0.05 (vs CN¥0.043 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥139.1m (up 29% from 1Q 2020). Net income: CN¥15.0m (up 47% from 1Q 2020). Profit margin: 11% (up from 9.5% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 15
Full year 2020 earnings released: EPS CN¥0.59 (vs CN¥0.51 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: CN¥1.15b (up 14% from FY 2019). Net income: CN¥186.6m (up 16% from FY 2019). Profit margin: 16% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 03
New 90-day low: CN¥17.09 The company is down 24% from its price of CN¥22.60 on 05 November 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥26.89 per share. Announcement • Jan 22
Sichuan Jiuyuan Yinhai Software Co.,Ltd to Report Fiscal Year 2020 Results on Mar 15, 2021 Sichuan Jiuyuan Yinhai Software Co.,Ltd announced that they will report fiscal year 2020 results on Mar 15, 2021 Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥19.80, the stock is trading at a trailing P/E ratio of 37.5x, down from the previous P/E ratio of 44.2x. This compares to an average P/E of 56x in the Software industry in China. Total returns to shareholders over the past three years are 8.0%. Is New 90 Day High Low • Jan 07
New 90-day low: CN¥19.80 The company is down 9.0% from its price of CN¥21.66 on 09 October 2020. The Chinese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥26.89 per share. Is New 90 Day High Low • Dec 03
New 90-day high: CN¥24.84 The company is up 1.0% from its price of CN¥24.55 on 04 September 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥22.40 per share. Announcement • Nov 25
Sichuan Jiuyuan Yinhai Software Co.,Ltd Approves Directorate Election Sichuan Jiuyuan Yinhai Software Co.,Ltd at its EGM held on November 23, 2020 approved the election of Lian Chunhua, Song Xiaopei, Qing Yong, Chen Quangen, Gao Jing and Zhan Kaiming as non-independent directors; the company also elected Feng Jian, Qin Zhiguang, and Li Guangjin as independent directors and elect Hou Chunmei, Huang Dan and You Xin as non-employee supervisors. Is New 90 Day High Low • Nov 02
New 90-day low: CN¥20.40 The company is down 27% from its price of CN¥27.97 on 04 August 2020. The Chinese market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is down 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥22.35 per share. Announcement • Oct 30
Sichuan Jiuyuan Yinhai Software Co.,Ltd (SZSE:002777) agreed to acquire 20% stake in Chongqing Jiuyuan Yinhai Software Co., Ltd. (Chongqing Yinhai) from Xiao Chunyan for CNY 6 million. Sichuan Jiuyuan Yinhai Software Co.,Ltd (SZSE:002777) agreed to acquire 20% stake in Chongqing Jiuyuan Yinhai Software Co., Ltd. (Chongqing Yinhai) from Xiao Chunyan for CNY 6 million on October 28, 2020. Under the terms of the transaction, within 30 days after this agreement takes effect, Sichuan Jiuyuan Yinhai Software Co.,Ltd will pay CNY 5.98 million to the account designated by Xiao Chunyan. Sichuan Jiuyuan Yinhai Software Co.,Ltd decided to use its own funds of CNY 5.98 million for the transaction. Post-closing, Sichuan Jiuyuan Yinhai Software Co.,Ltd plans to invest CNY 15 million in Chongqing Yinhai in cash, and the registered capital of Chongqing Yinhai will increase from the current CNY 5 million to CNY 20 million. As of June 30, 2020, Chongqing Yinhai had total assets of CNY 51.35 million and net assets of CNY 33.41 million. Sichuan Jiuyuan Yinhai Software Co.,Ltd reviewed and approved the transaction in the 25th meeting of the fourth Board of Directors on October 28, 2020. The transaction is not required to submit to the shareholders meeting for deliberation. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥165.9m, up 15% from the prior year. Total revenue was CN¥1.02b over the last 12 months, up 8.5% from the prior year. Is New 90 Day High Low • Sep 24
New 90-day low: CN¥21.90 The company is down 25% from its price of CN¥29.11 on 24 June 2020. The Chinese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥22.78 per share. Announcement • Aug 10
Sichuan Jiuyuan Yinhai Software Co.,Ltd to Report First Half, 2020 Results on Aug 26, 2020 Sichuan Jiuyuan Yinhai Software Co.,Ltd announced that they will report first half, 2020 results on Aug 26, 2020 
