New Risk • May 08
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 (4.1% net profit margin). Reported Earnings • Apr 24
Full year 2025 earnings released: EPS: CN¥0.036 (vs CN¥0.04 in FY 2024) Full year 2025 results: EPS: CN¥0.036 (down from CN¥0.04 in FY 2024). Revenue: CN¥1.54b (up 38% from FY 2024). Net income: CN¥102.9m (down 17% from FY 2024). Profit margin: 6.7% (down from 11% in FY 2024). 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 12% per year, which means it is well ahead of earnings. Ankündigung • Apr 23
HNA Technology Co.,Ltd., Annual General Meeting, May 29, 2026 HNA Technology Co.,Ltd., Annual General Meeting, May 29, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Tianjin China Ankündigung • Mar 30
HNA Technology Co.,Ltd. to Report Q1, 2026 Results on Apr 30, 2026 HNA Technology Co.,Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Ankündigung • Dec 26
HNA Technology Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 23, 2026 HNA Technology Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 23, 2026 Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: CN¥0.009 (vs CN¥0.006 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.009 (up from CN¥0.006 in 3Q 2024). Revenue: CN¥370.3m (up 17% from 3Q 2024). Net income: CN¥25.3m (up 43% from 3Q 2024). Profit margin: 6.8% (up from 5.6% in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 135 percentage points per year, which is a significant difference in performance. Ankündigung • Sep 30
HNA Technology Co.,Ltd. to Report Q3, 2025 Results on Oct 31, 2025 HNA Technology Co.,Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Reported Earnings • Aug 22
Second quarter 2025 earnings released: EPS: CN¥0.01 (vs CN¥0.013 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.01 (down from CN¥0.013 in 2Q 2024). Revenue: CN¥413.5m (up 85% from 2Q 2024). Net income: CN¥28.5m (down 26% from 2Q 2024). Profit margin: 6.9% (down from 17% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 136 percentage points per year, which is a significant difference in performance. New Risk • Jul 08
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 7.1% 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. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (10% net profit margin). Ankündigung • Jun 30
HNA Technology Co.,Ltd. to Report First Half, 2025 Results on Aug 20, 2025 HNA Technology Co.,Ltd. announced that they will report first half, 2025 results on Aug 20, 2025 Ankündigung • Jun 06
HNA Technology Co.,Ltd., Annual General Meeting, Jun 27, 2025 HNA Technology Co.,Ltd., Annual General Meeting, Jun 27, 2025, at 14:00 China Standard Time. Location: No. 207, Machang Road, Hexi District, Tianjin China Ankündigung • Mar 28
HNA Technology Co.,Ltd. to Report Q1, 2025 Results on Apr 29, 2025 HNA Technology Co.,Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Board Change • Jan 26
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Wen Jin Gao was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Dec 27
HNA Technology Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 29, 2025 HNA Technology Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 29, 2025 New Risk • Nov 12
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (21% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (5.6% net profit margin). Ankündigung • Sep 30
HNA Technology Co.,Ltd. to Report Q3, 2024 Results on Oct 31, 2024 HNA Technology Co.,Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 Reported Earnings • Aug 24
Second quarter 2024 earnings released: EPS: CN¥0.013 (vs CN¥0.093 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.013 (down from CN¥0.093 in 2Q 2023). Revenue: CN¥224.0m (up 145% from 2Q 2023). Net income: CN¥38.4m (down 86% from 2Q 2023). Profit margin: 17% (down from 292% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Ankündigung • Jun 28
HNA Technology Co.,Ltd. to Report First Half, 2024 Results on Aug 30, 2024 HNA Technology Co.,Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Ankündigung • May 17
HNA Technology Co.,Ltd., Annual General Meeting, Jun 05, 2024 HNA Technology Co.,Ltd., Annual General Meeting, Jun 05, 2024, at 14:00 China Standard Time. Location: No. 219, Nanjing Road, Heping District, Tianjin China Reported Earnings • Apr 30
Full year 2023 earnings released: EPS: CN¥0.08 (vs CN¥0.07 in FY 2022) Full year 2023 results: EPS: CN¥0.08 (up from CN¥0.07 in FY 2022). Revenue: CN¥650.7m (up 343% from FY 2022). Net income: CN¥241.7m (up 24% from FY 2022). Profit margin: 37% (down from 133% in FY 2022). Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Ankündigung • Mar 30
HNA Technology Co.,Ltd. to Report Q1, 2024 Results on Apr 30, 2024 HNA Technology Co.,Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥2.04, the stock trades at a trailing P/E ratio of 20.1x. Average trailing P/E is 32x in the Electronic industry in China. Total returns to shareholders of 13% over the past three years. Board Change • Jan 23
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Jing Bai was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Dec 30
HNA Technology Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 30, 2024 HNA Technology Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 30, 2024 New Risk • Nov 15
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 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0 (vs CN¥0.008 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0 (down from CN¥0.008 in 3Q 2022). Revenue: CN¥149.6m (up 339% from 3Q 2022). Net income: CN¥1.35m (down 94% from 3Q 2022). Profit margin: 0.9% (down from 64% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 79% 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 • Sep 27
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥3.00, the stock trades at a trailing P/E ratio of 27.6x. Average trailing P/E is 42x in the Electronic industry in China. Total loss to shareholders of 21% over the past three years. Reported Earnings • Aug 19
Second quarter 2023 earnings released: EPS: CN¥0.093 (vs CN¥0.029 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.093 (up from CN¥0.029 in 2Q 2022). Revenue: CN¥91.4m (up 232% from 2Q 2022). Net income: CN¥266.9m (up 215% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Ankündigung • Jun 28
HNA Technology Co.,Ltd. to Report Q2, 2023 Results on Aug 19, 2023 HNA Technology Co.,Ltd. announced that they will report Q2, 2023 results on Aug 19, 2023 Reported Earnings • Apr 30
First quarter 2023 earnings released: EPS: CN¥0.007 (vs CN¥0.028 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.007 (down from CN¥0.028 in 1Q 2022). Revenue: CN¥71.2m (up 107% from 1Q 2022). Net income: CN¥19.8m (down 76% from 1Q 2022). Profit margin: 28% (down from 236% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥2.91, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 38x in the Electronic industry in China. Negligible returns to shareholders over past three years. Reported Earnings • May 02
First quarter 2022 earnings released: EPS: CN¥0.028 (vs CN¥0.14 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.028 (down from CN¥0.14 in 1Q 2021). Revenue: CN¥34.4m (down 100% from 1Q 2021). Net income: CN¥81.4m (down 80% from 1Q 2021). 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 11% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Jing Bai was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Aug 31
Second quarter 2021 earnings released: EPS CN¥0.20 (vs CN¥0.10 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥82.8b (up 11% from 2Q 2020). Net income: CN¥579.6m (up 91% from 2Q 2020). Profit margin: 0.7% (up from 0.4% in 2Q 2020). Reported Earnings • May 04
First quarter 2021 earnings released: EPS CN¥0.14 (vs CN¥0.052 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥85.1b (up 10% from 1Q 2020). Net income: CN¥403.6m (up 170% from 1Q 2020). Profit margin: 0.5% (up from 0.2% in 1Q 2020). Reported Earnings • Apr 09
Full year 2020 earnings released: CN¥3.38 loss per share (vs CN¥0.18 profit in FY 2019) The company reported a soft full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: CN¥336.7b (up 2.9% from FY 2019). Net loss: CN¥9.79b (down CN¥10.3b from profit in FY 2019). Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥2.30, the stock is trading at a trailing P/E ratio of 9.5x, up from the previous P/E ratio of 7.9x. This compares to an average P/E of 40x in the Electronic industry in China. Total return to shareholders over the past year is a loss of 22%. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CN¥2.06, the stock is trading at a trailing P/E ratio of 8.5x, down from the previous P/E ratio of 10.7x. This compares to an average P/E of 40x in the Electronic industry in China. Total return to shareholders over the past three years is a loss of 68%. Is New 90 Day High Low • Feb 01
New 90-day low: CN¥2.29 The company is down 32% from its price of CN¥3.36 on 03 November 2020. The Chinese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 1.0% over the same period. Is New 90 Day High Low • Jan 06
New 90-day low: CN¥2.49 The company is down 34% from its price of CN¥3.80 on 30 September 2020. The Chinese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 9.0% over the same period. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥2.90, the stock is trading at a trailing P/E ratio of 11.9x, down from the previous P/E ratio of 14.1x. This compares to an average P/E of 43x in the Electronic industry in China. Total return to shareholders over the past three years is a loss of 55%. Ankündigung • Dec 11
Platinum Equity, LLC entered into a definitive agreement to acquire Ingram Micro Inc. from HNA Technology Co.,Ltd. (SHSE:600751) in a transaction valued at $7.2 billion. Platinum Equity, LLC entered into a definitive agreement to acquire Ingram Micro Inc. from HNA Technology Co.,Ltd. (SHSE:600751) in a transaction valued at $7.2 billion on December 9, 2020. The debt financing commitments have been obtained from J.P. Morgan, Bank of America and Morgan Stanley Senior Funding, Inc. Ingram Micro generated more than $47 billion in revenues for fiscal year 2019. Platinum Equity, LLC will use Ingram Micro Inc. as platform for growth through additional M&A. Upon closing, Alain Monié will continue to lead Ingram Micro as Chief Executive Officer, and Ingram Micro will continue to be headquartered in Irvine, California. The transaction is subject to approval by shareholders of HNA Technology and customary regulatory approvals and is expected to be completed by the first half of 2021. Morgan Stanley & Co. LLC and Goldman Sachs & Co. acted as financial advisors, and Morgan Lewis acted as legal advisor to Platinum Equity. Willkie Farr & Gallagher LLP acted as financing legal counsel for Platinum Equity. Davis Polk acted as legal advisor and J.P. Morgan acted as financial advisor to HNA Technology. Is New 90 Day High Low • Dec 09
New 90-day low: CN¥3.13 The company is down 26% from its price of CN¥4.21 on 10 September 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 5.0% over the same period. Ankündigung • Oct 29
HNA Technology Co.,Ltd. to Report Q3, 2020 Results on Oct 31, 2020 HNA Technology Co.,Ltd. announced that they will report Q3, 2020 results on Oct 31, 2020 Ankündigung • Jul 18
HNA Technology Co.,Ltd. to Report First Half, 2020 Results on Aug 31, 2020 HNA Technology Co.,Ltd. announced that they will report first half, 2020 results on Aug 31, 2020