Declared Dividend • Jul 13
Dividend reduced to CN¥0.13 Dividend of CN¥0.13 is 43% lower than last year. Ex-date: 17th July 2026 Payment date: 17th July 2026 Dividend yield will be 0.2%, which is lower than the industry average of 0.9%. Announcement • Jul 01
Guizhou Space Appliance Co., Ltd to Report First Half, 2026 Results on Aug 29, 2026 Guizhou Space Appliance Co., Ltd announced that they will report first half, 2026 results on Aug 29, 2026 Reported Earnings • Apr 30
First quarter 2026 earnings released: EPS: CN¥0.11 (vs CN¥0.10 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.11 (up from CN¥0.10 in 1Q 2025). Revenue: CN¥1.61b (up 10% from 1Q 2025). Net income: CN¥52.2m (up 12% from 1Q 2025). Profit margin: 3.2% (in line with 1Q 2025). Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Aerospace & Defense industry in China. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Mar 31
Guizhou Space Appliance Co., LTD to Report Q1, 2026 Results on Apr 30, 2026 Guizhou Space Appliance Co., LTD announced that they will report Q1, 2026 results on Apr 30, 2026 Reported Earnings • Mar 31
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.40 (down from CN¥0.76 in FY 2024). Revenue: CN¥5.82b (up 16% from FY 2024). Net income: CN¥182.8m (down 47% from FY 2024). Profit margin: 3.1% (down from 6.9% in FY 2024). Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 56%. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Aerospace & Defense industry in China. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Mar 31
Guizhou Space Appliance Co., LTD, Annual General Meeting, May 22, 2026 Guizhou Space Appliance Co., LTD, Annual General Meeting, May 22, 2026, at 09:30 China Standard Time. Location: The Company's Meeting Room, Guiyang, Guizhou China New Risk • Jan 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 7.2% 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 (7.2% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). Announcement • Dec 31
Guizhou Space Appliance Co., LTD to Report Fiscal Year 2025 Results on Mar 31, 2026 Guizhou Space Appliance Co., LTD announced that they will report fiscal year 2025 results on Mar 31, 2026 Price Target Changed • Nov 23
Price target decreased by 13% to CN¥60.86 Down from CN¥69.66, the current price target is an average from 3 analysts. New target price is 47% above last closing price of CN¥41.53. Stock is down 20% over the past year. The company is forecast to post earnings per share of CN¥0.82 for next year compared to CN¥0.76 last year. Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.13 (vs CN¥0.059 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.13 (up from CN¥0.059 in 3Q 2024). Revenue: CN¥1.41b (up 32% from 3Q 2024). Net income: CN¥59.3m (up 123% from 3Q 2024). Profit margin: 4.2% (up from 2.5% in 3Q 2024). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Aerospace & Defense 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 18% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
Guizhou Space Appliance Co., LTD to Report Q3, 2025 Results on Oct 30, 2025 Guizhou Space Appliance Co., LTD announced that they will report Q3, 2025 results on Oct 30, 2025 Major Estimate Revision • Aug 28
Consensus revenue estimates fall by 10% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥6.77b to CN¥6.06b. EPS estimate fell from CN¥1.68 to CN¥1.22 per share. Net income forecast to grow 1,500% next year vs 64% growth forecast for Aerospace & Defense industry in China. Consensus price target broadly unchanged at CN¥70.69. Share price rose 5.0% to CN¥53.84 over the past week. Reported Earnings • Aug 25
Second quarter 2025 earnings released: EPS: CN¥0.09 (vs CN¥0.35 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.09 (down from CN¥0.35 in 2Q 2024). Revenue: CN¥1.47b (up 12% from 2Q 2024). Net income: CN¥40.1m (down 75% from 2Q 2024). Profit margin: 2.7% (down from 12% in 2Q 2024). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Aerospace & Defense 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 only fallen by 12% per year, which means it has not declined as severely as earnings. New Risk • Aug 09
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.5% 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: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.4% net profit margin). Announcement • Jul 02
Guizhou Space Appliance Co., LTD to Report First Half, 2025 Results on Aug 26, 2025 Guizhou Space Appliance Co., LTD announced that they will report first half, 2025 results on Aug 26, 2025 Announcement • May 22
Guizhou Space Appliance Co., Ltd Approves Profit Distribution Plan for 2024 Guizhou Space Appliance Co., LTD at its Annual General Meeting of 2024 on May 16, 2025, approved profit distribution plan for 2024 as Cash dividend/10 shares (tax included): CNY 2.30. Major Estimate Revision • Apr 07
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥7.14b to CN¥6.73b. EPS estimate also fell from CN¥2.00 per share to CN¥1.61 per share. Net income forecast to grow 112% next year vs 32% growth forecast for Aerospace & Defense industry in China. Consensus price target down from CN¥69.00 to CN¥66.44. Share price was steady at CN¥56.70 over the past week. Announcement • Apr 02
Guizhou Space Appliance Co., LTD Proposes Final Cash Dividend for 2024 Guizhou Space Appliance Co., LTD proposed final cash dividend of CNY 2.30000000 per 10 shares (tax included) for 2024. Reported Earnings • Apr 01
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.76 (down from CN¥1.65 in FY 2023). Revenue: CN¥5.02b (down 19% from FY 2023). Net income: CN¥347.1m (down 54% from FY 2023). Profit margin: 6.9% (down from 12% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 8.2%. Earnings per share (EPS) also missed analyst estimates by 42%. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Aerospace & Defense industry in China. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 2% per year. Announcement • Apr 01
Guizhou Space Appliance Co., LTD, Annual General Meeting, May 16, 2025 Guizhou Space Appliance Co., LTD, Annual General Meeting, May 16, 2025, at 09:30 China Standard Time. Location: The Company's Meeting Room, Guiyang, Guizhou China Announcement • Mar 31
Guizhou Space Appliance Co., LTD to Report Q1, 2025 Results on Apr 25, 2025 Guizhou Space Appliance Co., LTD announced that they will report Q1, 2025 results on Apr 25, 2025 Announcement • Mar 06
Guizhou Space Appliance Co., LTD (SZSE:002025) agreed to acquire an additional 32.70% stake in AllRay Incorporated from CHINA ALLRAY GROUP LIMITED for CNY 56.9 million. Guizhou Space Appliance Co., LTD (SZSE:002025) agreed to acquire an additional 32.70% stake in AllRay Incorporated from CHINA ALLRAY GROUP LIMITED for CNY 56.9 million on March 4, 2025. A cash consideration of CNY 56.93 million will be paid by Guizhou Space Appliance Co., LTD. As part of consideration, CNY 56.93 million is paid towards common equity of AllRay Incorporated. Upon completion, Guizhou Space Appliance Co., LTD will own 96.54% stake in AllRay Incorporated. The transaction will be financed through equity investment of CNY 56.93 million.
As of September 30, 2024, AllRay Incorporated reported total assets of CNY 350 million and total common equity of CNY 170 million.
The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board. Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥52.92, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 38x in the Aerospace & Defense industry in China. Total loss to shareholders of 21% over the past three years. Price Target Changed • Jan 17
Price target increased by 13% to CN¥69.00 Up from CN¥61.26, the current price target is an average from 3 analysts. New target price is 45% above last closing price of CN¥47.53. Stock is up 22% over the past year. The company is forecast to post earnings per share of CN¥1.30 for next year compared to CN¥1.65 last year. Announcement • Dec 31
Guizhou Space Appliance Co., LTD to Report Fiscal Year 2024 Results on Apr 01, 2025 Guizhou Space Appliance Co., LTD announced that they will report fiscal year 2024 results on Apr 01, 2025 Major Estimate Revision • Nov 06
Consensus EPS estimates fall by 22% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from CN¥1.86 to CN¥1.45 per share. Revenue forecast steady at CN¥6.35b. Net income forecast to grow 73% next year vs 59% growth forecast for Aerospace & Defense industry in China. Consensus price target up from CN¥61.26 to CN¥62.56. Share price fell 2.8% to CN¥57.60 over the past week. New Risk • Nov 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% 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 31
Third quarter 2024 earnings released: EPS: CN¥0.059 (vs CN¥0.37 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.059 (down from CN¥0.37 in 3Q 2023). Revenue: CN¥1.07b (down 32% from 3Q 2023). Net income: CN¥26.7m (down 84% from 3Q 2023). Profit margin: 2.5% (down from 11% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Aerospace & Defense 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 9% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥63.76, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 41x in the Aerospace & Defense industry in China. Total loss to shareholders of 2.6% over the past three years. Announcement • Sep 30
Guizhou Space Appliance Co., LTD to Report Q3, 2024 Results on Oct 31, 2024 Guizhou Space Appliance Co., LTD announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥50.84, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 34x in the Aerospace & Defense industry in China. Total loss to shareholders of 16% over the past three years. Major Estimate Revision • Sep 03
Consensus revenue estimates fall by 11% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥7.33b to CN¥6.54b. EPS estimate fell from CN¥2.05 to CN¥1.87 per share. Net income forecast to grow 42% next year vs 47% growth forecast for Aerospace & Defense industry in China. Consensus price target up from CN¥56.71 to CN¥67.26. Share price rose 8.2% to CN¥47.06 over the past week. Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: CN¥0.35 (vs CN¥0.46 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.35 (down from CN¥0.46 in 2Q 2023). Revenue: CN¥1.31b (down 29% from 2Q 2023). Net income: CN¥159.6m (down 23% from 2Q 2023). Profit margin: 12% (in line with 2Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Aerospace & Defense industry in China. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Aug 16
Guizhou Space Appliance Co., LTD Elects Di Guofu and Wang Feimin as Independent Director Guizhou Space Appliance Co., LTD at the Extraordinary General Meeting of 2024 on 14 August 2024 approved election of independent directors, cumulative voting system applicable: Di Guofu, independent director; Wang Feimin, independent director. Announcement • Jun 29
Guizhou Space Appliance Co., LTD to Report First Half, 2024 Results on Aug 28, 2024 Guizhou Space Appliance Co., LTD announced that they will report first half, 2024 results on Aug 28, 2024 Price Target Changed • Jun 13
Price target decreased by 15% to CN¥55.04 Down from CN¥64.63, the current price target is an average from 4 analysts. New target price is 12% above last closing price of CN¥49.10. Stock is down 17% over the past year. The company is forecast to post earnings per share of CN¥2.12 for next year compared to CN¥1.65 last year. Announcement • Jun 06
Guizhou Space Appliance Co., LTD Announces Final Cash Dividend of A Shares for 2023, Payable on 14 June 2024 Guizhou Space Appliance Co., LTD announced final cash dividend of CNY 3.80000000 per 10 A Shares (tax included) for 2023. Record date: 13 June 2024. Ex-date: 14 June 2024. Payment date: 14 June 2024. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.49 (vs CN¥0.49 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.49 (in line with 1Q 2023). Revenue: CN¥1.61b (down 9.5% from 1Q 2023). Net income: CN¥225.5m (up 2.7% from 1Q 2023). Profit margin: 14% (up from 12% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Aerospace & Defense industry in China. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Major Estimate Revision • Apr 05
Consensus revenue estimates fall by 23% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥9.52b to CN¥7.29b. EPS estimate fell from CN¥2.33 to CN¥2.09 per share. Net income forecast to grow 27% next year vs 42% growth forecast for Aerospace & Defense industry in China. Consensus price target down from CN¥64.63 to CN¥60.84. Share price was steady at CN¥37.73 over the past week. Reported Earnings • Mar 31
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥1.65 (up from CN¥1.23 in FY 2022). Revenue: CN¥6.21b (up 3.2% from FY 2022). Net income: CN¥750.5m (up 35% from FY 2022). Profit margin: 12% (up from 9.2% in FY 2022). Revenue missed analyst estimates by 16%. Earnings per share (EPS) also missed analyst estimates by 4.5%. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Aerospace & Defense industry in China. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥40.38, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 26x in the Aerospace & Defense industry in China. Total loss to shareholders of 28% over the past three years. Announcement • Dec 29
Guizhou Space Appliance Co., LTD to Report Fiscal Year 2023 Results on Mar 30, 2024 Guizhou Space Appliance Co., LTD announced that they will report fiscal year 2023 results on Mar 30, 2024 Price Target Changed • Oct 29
Price target decreased by 13% to CN¥69.50 Down from CN¥79.61, the current price target is an average from 3 analysts. New target price is 34% above last closing price of CN¥51.89. Stock is down 35% over the past year. The company is forecast to post earnings per share of CN¥1.75 for next year compared to CN¥1.23 last year. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.37 (vs CN¥0.31 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.37 (up from CN¥0.31 in 3Q 2022). Revenue: CN¥1.58b (down 3.3% from 3Q 2022). Net income: CN¥167.5m (up 21% from 3Q 2022). Profit margin: 11% (up from 8.5% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Aerospace & Defense industry in China. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Sep 26
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 8.0%. The fair value is estimated to be CN¥70.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 67% in 2 years. Earnings is forecast to grow by 82% in the next 2 years. Buying Opportunity • Aug 23
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 8.5%. The fair value is estimated to be CN¥75.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 81% in 2 years. Earnings is forecast to grow by 87% in the next 2 years. Reported Earnings • Aug 22
Second quarter 2023 earnings released: EPS: CN¥0.46 (vs CN¥0.32 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.46 (up from CN¥0.32 in 2Q 2022). Revenue: CN¥1.84b (up 18% from 2Q 2022). Net income: CN¥208.3m (up 44% from 2Q 2022). Profit margin: 11% (up from 9.3% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Aerospace & Defense 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 only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Jul 01
Guizhou Space Appliance Co., LTD to Report First Half, 2023 Results on Aug 22, 2023 Guizhou Space Appliance Co., LTD announced that they will report first half, 2023 results on Aug 22, 2023 Announcement • May 12
Guizhou Space Appliance Co., Ltd Announces Final Cash Dividend for 2022, Payable on 19 May 2023 Guizhou Space Appliance Co., LTD announced 2022 final profit distribution plan to be implemented (A shares) of cash dividend (tax included) of CNY 3.70000000 per 10 shares. Record date is 18 May 2023; Ex-date is 19 May 2023; Payment date is 19 May 2023. Price Target Changed • Apr 22
Price target decreased by 7.4% to CN¥83.27 Down from CN¥89.96, the current price target is an average from 2 analysts. New target price is 35% above last closing price of CN¥61.88. Stock is up 3.5% over the past year. The company is forecast to post earnings per share of CN¥1.78 for next year compared to CN¥1.23 last year. Reported Earnings • Apr 18
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥1.23 (up from CN¥1.12 in FY 2021). Revenue: CN¥6.02b (up 20% from FY 2021). Net income: CN¥555.4m (up 14% from FY 2021). Profit margin: 9.2% (in line with FY 2021). Revenue missed analyst estimates by 6.2%. Earnings per share (EPS) also missed analyst estimates by 11%. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 21% growth forecast for the Aerospace & Defense industry in China. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 8 new directors. 4 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). MD, GM & Director Lingzhi Li is the most experienced director on the board, commencing their role in 2015. Independent Director Beizhong Hu 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. Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 25
Third quarter 2022 earnings released: EPS: CN¥0.31 (vs CN¥0.32 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.31. Revenue: CN¥1.64b (up 23% from 3Q 2021). Net income: CN¥138.4m (flat on 3Q 2021). Profit margin: 8.5% (down from 10% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Aerospace & Defense industry in China. Reported Earnings • Aug 24
Second quarter 2022 earnings released: EPS: CN¥0.32 (vs CN¥0.31 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.32 (up from CN¥0.31 in 2Q 2021). Revenue: CN¥1.56b (up 28% from 2Q 2021). Net income: CN¥144.9m (up 6.3% from 2Q 2021). Profit margin: 9.3% (down from 11% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 20%, compared to a 28% growth forecast for the Aerospace & Defense 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 increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 30
Guizhou Space Appliance Co., LTD (SZSE:002025) agreed to acquire a 68% stake in Shenzhen Casic Motor System Co.,Ltd from Linquan Aerospace Motor Co., Ltd. for CNY 58 million. Guizhou Space Appliance Co., LTD (SZSE:002025) agreed to acquire a 68% stake in Shenzhen Casic Motor System Co.,Ltd from Linquan Aerospace Motor Co., Ltd. for CNY 58 million on June 25, 2022. The consideration will be paid by own funds. The first payment is 30,468,940.47 yuan , payment time: within 3 working days and second payment is 27,500,000.00 yuan , payment time: 1 fiscal year from the delivery date. As of year ended March 31, 2022, Shenzhen Casic Motor System Co.,Ltd reported total assets of CNY 69.93 million and total common equity of CNY 27.99 million. Announcement • Jun 17
Guizhou Space Appliance Co., Ltd Announces Final Dividend on A Shares for the Year 2021, Payable on June 24, 2022 Guizhou Space Appliance Co., LTD announced final cash dividend/10 shares (tax included) of CNY 2.00000000 on A shares for the year 2021. Record date is June 23, 2022. Ex-date is June 24, 2022. Payment date is June 24, 2022. Announcement • May 12
Guizhou Space Appliance Co., Ltd Announces Final Cash Dividend for the Year 2021 Guizhou Space Appliance Co., LTD announced final cash dividend for 2021 on April 12, 2022 at its AGM held on May 6, 2022. Cash dividend/10 shares (tax included) of CNY 2.000000000. Board Change • Apr 27
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Shareholder Supervisor Jingyuan Cai was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Apr 18
Consensus revenue estimates fall by 11% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥7.02b to CN¥6.24b. EPS estimate fell from CN¥1.79 to CN¥1.39 per share. Net income forecast to grow 29% next year vs 37% growth forecast for Aerospace & Defense industry in China. Consensus price target down from CN¥84.04 to CN¥65.87. Share price rose 9.0% to CN¥59.32 over the past week. Price Target Changed • Apr 13
Price target decreased to CN¥65.87 Down from CN¥84.04, the current price target is an average from 5 analysts. New target price is 14% above last closing price of CN¥58.02. Stock is up 27% over the past year. The company is forecast to post earnings per share of CN¥1.69 for next year compared to CN¥1.12 last year. Reported Earnings • Apr 12
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥1.12 (up from CN¥1.01 in FY 2020). Revenue: CN¥5.04b (up 19% from FY 2020). Net income: CN¥487.2m (up 12% from FY 2020). Profit margin: 9.7% (in line with FY 2020). Revenue missed analyst estimates by 7.0%. Earnings per share (EPS) also missed analyst estimates by 15%. Over the next year, revenue is forecast to grow 39%, compared to a 30% growth forecast for the 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 increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 26
Third quarter 2021 earnings released: EPS CN¥0.32 (vs CN¥0.29 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¥1.33b (up 18% from 3Q 2020). Net income: CN¥137.9m (up 13% from 3Q 2020). Profit margin: 10% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 11
Guizhou Space Appliance Co., LTD announced that it has received CNY 1.430619998 billion in funding On September 10, 2021, Guizhou Space Appliance Co., LTD closed the transaction. The company has issued 23,662,256 A shares at a price of CNY 60.46 per share for a total gross proceeds of CNY 1,430,619,997.76. Reported Earnings • Aug 24
Second quarter 2021 earnings released: EPS CN¥0.31 (vs CN¥0.26 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥1.22b (up 9.3% from 2Q 2020). Net income: CN¥136.3m (up 22% from 2Q 2020). Profit margin: 11% (up from 10.0% 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 12% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Aug 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Shareholder Supervisor Jingyuan Cai was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥55.22, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 41x in the Aerospace & Defense industry in China. Total returns to shareholders of 133% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥93.98 per share. Executive Departure • Jul 06
Independent Director Huaigu Chen has left the company On the 29th of June, Huaigu Chen's tenure as Independent Director ended after 6.1 years in the role. We don't have any record of a personal shareholding under Huaigu's name. A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 3.00 years. Executive Departure • Jul 06
Chairman Zhenyu Chen has left the company On the 29th of June, Zhenyu Chen's tenure as Chairman ended after 3.0 years in the role. We don't have any record of a personal shareholding under Zhenyu's name. A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 3.00 years. Executive Departure • Jul 06
Director Sun Guidong has left the company On the 29th of June, Sun Guidong's tenure as Director ended after 2.1 years in the role. We don't have any record of a personal shareholding under Sun's name. A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 3.00 years. Executive Departure • Jul 06
Director Zou Rui has left the company On the 29th of June, Zou Rui's tenure as Director ended after 1.7 years in the role. We don't have any record of a personal shareholding under Zou's name. A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 3.00 years. Reported Earnings • Apr 13
Full year 2020 earnings released: EPS CN¥1.01 (vs CN¥0.94 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: CN¥4.22b (up 19% from FY 2019). Net income: CN¥433.6m (up 7.8% from FY 2019). Profit margin: 10% (down from 11% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 19% share price decline to CN¥44.35, the stock is trading at a trailing P/E ratio of 45.7x, down from the previous P/E ratio of 56.5x. This compares to an average P/E of 62x in the Aerospace & Defense industry in China. Total returns to shareholders over the past three years are 91%. Is New 90 Day High Low • Mar 08
New 90-day low: CN¥47.55 The company is down 10.0% from its price of CN¥53.01 on 08 December 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Aerospace & Defense industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥61.25 per share. Announcement • Feb 24
Guizhou Space Appliance Co., Ltd. to Report Fiscal Year 2020 Results on Apr 13, 2021 Guizhou Space Appliance Co., Ltd. announced that they will report fiscal year 2020 results on Apr 13, 2021 Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥71.10, the stock is trading at a trailing P/E ratio of 73.3x, up from the previous P/E ratio of 61.8x. This compares to an average P/E of 76x in the Aerospace & Defense industry in China. Total returns to shareholders over the past three years are 206%. Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥65.18, the stock is trading at a trailing P/E ratio of 67.2x, up from the previous P/E ratio of 58.2x. This compares to an average P/E of 72x in the Aerospace & Defense industry in China. Total returns to shareholders over the past three years are 177%. Is New 90 Day High Low • Dec 21
New 90-day high: CN¥55.59 The company is up 8.0% from its price of CN¥51.54 on 22 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Aerospace & Defense 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¥62.69 per share. 
