Buy Or Sell Opportunity • May 25
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to CN¥9.38. The fair value is estimated to be CN¥11.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.6% over the last 3 years. Earnings per share has declined by 60%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 232% in the next 2 years. Major Estimate Revision • May 09
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CN¥8.34b to CN¥8.23b. EPS estimate also fell from CN¥0.40 per share to CN¥0.315 per share. Net income forecast to grow 166% next year vs 22% growth forecast for Consumer Durables industry in China. Consensus price target broadly unchanged at CN¥8.77. Share price rose 3.6% to CN¥11.27 over the past week. Declared Dividend • May 03
Dividend of CN¥0.15 announced Dividend of CN¥0.15 is the same as last year. Ex-date: 12th May 2026 Payment date: 12th May 2026 Dividend yield will be 1.4%, which is lower than the industry average of 3.7%. Sustainability & Growth Dividend is not covered by earnings (112% earnings payout ratio). However, it is well covered by cash flows (34% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 25% to bring the payout ratio under control. EPS is expected to grow by 139% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • May 01
First quarter 2026 earnings released: EPS: CN¥0.11 (vs CN¥0.14 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.11 (down from CN¥0.14 in 1Q 2025). Revenue: CN¥1.81b (down 9.4% from 1Q 2025). Net income: CN¥82.8m (down 18% from 1Q 2025). Profit margin: 4.6% (down from 5.1% in 1Q 2025). Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Consumer Durables industry in China. Over the last 3 years on average, earnings per share has fallen by 60% 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. Buy Or Sell Opportunity • Apr 20
Now 29% overvalued after recent price rise Over the last 90 days, the stock has risen 4.6% to CN¥11.25. The fair value is estimated to be CN¥8.72, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.3% over the last 3 years. Earnings per share has declined by 58%. For the next 3 years, revenue is forecast to grow by 4.4% per annum. Earnings are also forecast to grow by 30% per annum over the same time period. Annonce • Mar 31
Joyoung Co.,Ltd to Report Q1, 2026 Results on Apr 30, 2026 Joyoung Co.,Ltd announced that they will report Q1, 2026 results on Apr 30, 2026 Reported Earnings • Mar 27
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: CN¥0.16 (in line with FY 2024). Revenue: CN¥8.21b (down 7.2% from FY 2024). Net income: CN¥117.6m (down 3.8% from FY 2024). Profit margin: 1.4% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 18%. Revenue is forecast to grow 5.7% p.a. on average during the next 2 years, compared to a 8.5% growth forecast for the Consumer Durables industry in China. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Annonce • Mar 26
Joyoung Co.,Ltd, Annual General Meeting, Apr 21, 2026 Joyoung Co.,Ltd, Annual General Meeting, Apr 21, 2026, at 15:00 China Standard Time. Location: No. 760, Yinhai Street, Xiasha Subdistrict, Qiantang District, Hangzhou, Zhejiang China Annonce • Dec 31
Joyoung Co.,Ltd to Report Fiscal Year 2025 Results on Mar 28, 2026 Joyoung Co.,Ltd announced that they will report fiscal year 2025 results on Mar 28, 2026 Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥11.06, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 17x in the Consumer Durables industry in China. Total loss to shareholders of 25% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥11.18 per share. Price Target Changed • Nov 01
Price target decreased by 8.3% to CN¥8.05 Down from CN¥8.78, the current price target is an average from 4 analysts. New target price is 16% below last closing price of CN¥9.62. Stock is down 3.8% over the past year. The company is forecast to post earnings per share of CN¥0.19 for next year compared to CN¥0.16 last year. Reported Earnings • Oct 29
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: CN¥0.001 (up from CN¥0.10 loss in 3Q 2024). Revenue: CN¥1.60b (down 11% from 3Q 2024). Net income: CN¥854.6k (up CN¥78.2m from 3Q 2024). Profit margin: 0.1% (up from net loss in 3Q 2024). Revenue missed analyst estimates by 9.7%. Earnings per share (EPS) also missed analyst estimates by 98%. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Consumer Durables 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 only fallen by 14% per year, which means it has not declined as severely as earnings. Annonce • Sep 30
Joyoung Co.,Ltd to Report Q3, 2025 Results on Oct 28, 2025 Joyoung Co.,Ltd announced that they will report Q3, 2025 results on Oct 28, 2025 Major Estimate Revision • Sep 02
Consensus EPS estimates fall by 29% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥9.22b to CN¥9.10b. EPS estimate also fell from CN¥0.396 per share to CN¥0.28 per share. Net income forecast to grow 169% next year vs 27% growth forecast for Consumer Durables industry in China. Consensus price target broadly unchanged at CN¥8.93. Share price fell 7.5% to CN¥9.64 over the past week. Annonce • Jul 02
Joyoung Co.,Ltd to Report First Half, 2025 Results on Aug 30, 2025 Joyoung Co.,Ltd announced that they will report first half, 2025 results on Aug 30, 2025 Price Target Changed • Jun 17
Price target increased by 8.6% to CN¥9.08 Up from CN¥8.36, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of CN¥9.38. Stock is down 18% over the past year. The company is forecast to post earnings per share of CN¥0.40 for next year compared to CN¥0.16 last year. Declared Dividend • May 12
Dividend of CN¥0.15 announced Dividend of CN¥0.15 is the same as last year. Ex-date: 15th May 2025 Payment date: 15th May 2025 Dividend yield will be 1.6%, which is lower than the industry average of 3.7%. Sustainability & Growth Dividend is not covered by earnings (121% earnings payout ratio) nor is it covered by cash flows (152% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 34% to bring the payout ratio under control. EPS is expected to grow by 168% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Major Estimate Revision • May 06
Consensus EPS estimates increase by 26% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from CN¥0.358 to CN¥0.45. Revenue forecast unchanged at CN¥9.39b. Net income forecast to grow 276% next year vs 18% growth forecast for Consumer Durables industry in China. Consensus price target of CN¥8.36 unchanged from last update. Share price rose 2.4% to CN¥9.50 over the past week. Reported Earnings • May 01
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: CN¥0.14 (down from CN¥0.17 in 1Q 2024). Revenue: CN¥2.00b (down 3.2% from 1Q 2024). Net income: CN¥101.5m (down 22% from 1Q 2024). Profit margin: 5.1% (down from 6.3% in 1Q 2024). Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 28%. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Consumer Durables industry in China. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. New Risk • May 01
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 121% Cash payout ratio: 152% Dividend yield: 1.6% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 121% Cash payout ratio: 152% Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.1% net profit margin). Annonce • Apr 23
Joyoung Co.,Ltd Approves Cash Dividend for 2024 Joyoung Co.,Ltd, at its Annual General Meeting held on 21 April 2025 approved cash dividend of CNY 1.50000000 per 10 shares (tax included) for 2024. Price Target Changed • Apr 22
Price target decreased by 7.6% to CN¥8.36 Down from CN¥9.05, the current price target is an average from 5 analysts. New target price is 10.0% below last closing price of CN¥9.29. Stock is down 20% over the past year. The company is forecast to post earnings per share of CN¥0.36 for next year compared to CN¥0.16 last year. Major Estimate Revision • Apr 03
Consensus EPS estimates fall by 30% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥9.91b to CN¥9.26b. EPS estimate also fell from CN¥0.509 per share to CN¥0.357 per share. Net income forecast to grow 123% next year vs 24% growth forecast for Consumer Durables industry in China. Consensus price target broadly unchanged at CN¥8.92. Share price fell 3.5% to CN¥9.92 over the past week. Annonce • Mar 31
Joyoung Co.,Ltd to Report Q1, 2025 Results on Apr 30, 2025 Joyoung Co.,Ltd announced that they will report Q1, 2025 results on Apr 30, 2025 Reported Earnings • Mar 28
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.16 (down from CN¥0.52 in FY 2023). Revenue: CN¥8.85b (down 7.9% from FY 2023). Net income: CN¥122.4m (down 69% from FY 2023). Profit margin: 1.4% (down from 4.0% in FY 2023). Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) also missed analyst estimates by 19%. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Consumer Durables 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 14% per year, which means it has not declined as severely as earnings. Annonce • Mar 28
Joyoung Co.,Ltd, Annual General Meeting, Apr 21, 2025 Joyoung Co.,Ltd, Annual General Meeting, Apr 21, 2025, at 15:00 China Standard Time. Location: The Company's Meeting Room, Hangzhou, Zhejiang China Major Estimate Revision • Jan 23
Consensus EPS estimates fall by 17% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from CN¥0.221 to CN¥0.183 per share. Revenue forecast steady at CN¥9.22b. Net income forecast to grow 177% next year vs 25% growth forecast for Consumer Durables industry in China. Consensus price target broadly unchanged at CN¥9.55. Share price fell 2.1% to CN¥9.68 over the past week. Annonce • Dec 31
Joyoung Co.,Ltd to Report Fiscal Year 2024 Results on Mar 28, 2025 Joyoung Co.,Ltd announced that they will report fiscal year 2024 results on Mar 28, 2025 Buy Or Sell Opportunity • Dec 10
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 26% to CN¥11.30. The fair value is estimated to be CN¥9.20, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.3% over the last 3 years. Earnings per share has declined by 41%. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to grow by 273% in the next 2 years. Buy Or Sell Opportunity • Nov 20
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to CN¥11.12. The fair value is estimated to be CN¥9.16, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.3% over the last 3 years. Earnings per share has declined by 41%. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to grow by 273% in the next 2 years. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥11.61, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 16x in the Consumer Durables industry in China. Total loss to shareholders of 43% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥9.14 per share. Major Estimate Revision • Nov 06
Consensus EPS estimates fall by 52% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥9.70b to CN¥9.33b. EPS estimate also fell from CN¥0.486 per share to CN¥0.234 per share. Net income forecast to grow 197% next year vs 30% growth forecast for Consumer Durables industry in China. Consensus price target down from CN¥9.91 to CN¥9.45. Share price rose 4.8% to CN¥11.26 over the past week. Reported Earnings • Oct 31
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: CN¥0.10 loss per share (down from CN¥0.16 profit in 3Q 2023). Revenue: CN¥1.80b (down 27% from 3Q 2023). Net loss: CN¥77.3m (down 167% from profit in 3Q 2023). Revenue missed analyst estimates by 15%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Consumer Durables 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 26% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Oct 28
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 8.5% to CN¥11.09. The fair value is estimated to be CN¥9.08, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.3% 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 grow by 55% in the next 2 years. Annonce • Sep 30
Joyoung Co.,Ltd to Report Q3, 2024 Results on Oct 31, 2024 Joyoung Co.,Ltd announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥11.47, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 14x in the Consumer Durables industry in China. Total loss to shareholders of 40% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥9.02 per share. Buy Or Sell Opportunity • Sep 30
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 9.9% to CN¥11.47. The fair value is estimated to be CN¥9.02, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.3% 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 grow by 55% in the next 2 years. Price Target Changed • Sep 07
Price target decreased by 7.6% to CN¥11.60 Down from CN¥12.55, the current price target is an average from 7 analysts. New target price is 25% above last closing price of CN¥9.30. Stock is down 35% over the past year. The company is forecast to post earnings per share of CN¥0.53 for next year compared to CN¥0.52 last year. Major Estimate Revision • Sep 05
Consensus EPS estimates fall by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥10.2b to CN¥9.86b. EPS estimate also fell from CN¥0.642 per share to CN¥0.535 per share. Net income forecast to grow 43% next year vs 20% growth forecast for Consumer Durables industry in China. Consensus price target down from CN¥12.55 to CN¥11.93. Share price fell 5.1% to CN¥9.50 over the past week. Reported Earnings • Aug 31
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: CN¥0.06 (down from CN¥0.17 in 2Q 2023). Revenue: CN¥2.32b (down 4.3% from 2Q 2023). Net income: CN¥45.4m (down 64% from 2Q 2023). Profit margin: 2.0% (down from 5.2% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 6.0%. Earnings per share (EPS) also missed analyst estimates by 66%. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Consumer Durables 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 23% per year, which means it has not declined as severely as earnings. Price Target Changed • Jul 18
Price target increased by 9.4% to CN¥12.55 Up from CN¥11.47, the current price target is an average from 6 analysts. New target price is 19% above last closing price of CN¥10.54. Stock is down 29% over the past year. The company is forecast to post earnings per share of CN¥0.65 for next year compared to CN¥0.52 last year. Buy Or Sell Opportunity • Jul 01
Now 10% overvalued after recent price rise Over the last 90 days, the stock has risen 1.4% to CN¥10.68. The fair value is estimated to be CN¥9.68, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.3% over the last 3 years. Earnings per share has declined by 35%. Revenue is forecast to grow by 15% in 2 years. Earnings are forecast to grow by 43% in the next 2 years. Annonce • Jun 29
Joyoung Co.,Ltd to Report First Half, 2024 Results on Aug 30, 2024 Joyoung Co.,Ltd announced that they will report first half, 2024 results on Aug 30, 2024 Buy Or Sell Opportunity • Jun 26
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at CN¥10.98. The fair value is estimated to be CN¥9.09, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.3% over the last 3 years. Earnings per share has declined by 35%. Revenue is forecast to grow by 15% in 2 years. Earnings are forecast to grow by 43% in the next 2 years. Declared Dividend • May 20
Dividend of CN¥0.15 announced Shareholders will receive a dividend of CN¥0.15. Ex-date: 23rd May 2024 Payment date: 23rd May 2024 Dividend yield will be 1.2%, which is lower than the industry average of 3.7%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 49% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Apr 12
Now 22% overvalued Over the last 90 days, the stock has fallen 13% to CN¥10.61. The fair value is estimated to be CN¥8.70, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.1% over the last 3 years. Earnings per share has declined by 34%. For the next 3 years, revenue is forecast to grow by 7.8% per annum. Earnings are also forecast to grow by 16% per annum over the same time period. Major Estimate Revision • Apr 04
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥11.4b to CN¥10.1b. EPS estimate fell from CN¥0.865 to CN¥0.628 per share. Net income forecast to grow 24% next year vs 20% growth forecast for Consumer Durables industry in China. Consensus price target down from CN¥14.20 to CN¥12.37. Share price fell 4.2% to CN¥10.51 over the past week. Price Target Changed • Apr 01
Price target decreased by 9.6% to CN¥12.84 Down from CN¥14.20, the current price target is an average from 8 analysts. New target price is 19% above last closing price of CN¥10.78. Stock is down 35% over the past year. The company is forecast to post earnings per share of CN¥0.69 for next year compared to CN¥0.52 last year. Reported Earnings • Mar 30
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.52 (down from CN¥0.70 in FY 2022). Revenue: CN¥9.61b (down 5.5% from FY 2022). Net income: CN¥389.0m (down 27% from FY 2022). Profit margin: 4.0% (down from 5.2% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 7.5%. Earnings per share (EPS) also missed analyst estimates by 29%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Consumer Durables industry in China. Over the last 3 years on average, earnings per share has fallen by 32% per year and the company’s share price has also fallen by 32% per year. Annonce • Mar 30
Joyoung Co.,Ltd to Report Q1, 2024 Results on Apr 30, 2024 Joyoung Co.,Ltd announced that they will report Q1, 2024 results on Apr 30, 2024 Annonce • Mar 29
Joyoung Co.,Ltd, Annual General Meeting, Apr 29, 2024 Joyoung Co.,Ltd, Annual General Meeting, Apr 29, 2024, at 15:00 China Standard Time. Location: The Company's Meeting Room, Hangzhou, Zhejiang China Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥11.38, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Consumer Durables industry in China. Total loss to shareholders of 59% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥16.80 per share. Annonce • Dec 29
Joyoung Co.,Ltd to Report Fiscal Year 2023 Results on Mar 29, 2024 Joyoung Co.,Ltd announced that they will report fiscal year 2023 results on Mar 29, 2024 Buying Opportunity • Dec 26
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be CN¥15.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.4% over the last 3 years. Earnings per share has declined by 29%. Revenue is forecast to grow by 21% in 2 years. Earnings is forecast to grow by 95% in the next 2 years. Buying Opportunity • Nov 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be CN¥16.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.4% over the last 3 years. Earnings per share has declined by 29%. Revenue is forecast to grow by 22% in 2 years. Earnings is forecast to grow by 98% in the next 2 years. Reported Earnings • Nov 02
Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2023 results: EPS: CN¥0.16 (down from CN¥0.21 in 3Q 2022). Revenue: CN¥2.46b (up 11% from 3Q 2022). Net income: CN¥116.4m (down 26% from 3Q 2022). Profit margin: 4.7% (down from 7.1% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.0%. Earnings per share (EPS) missed analyst estimates by 21%. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Consumer Durables industry in China. Over the last 3 years on average, earnings per share has fallen by 29% per year and the company’s share price has also fallen by 29% per year. Buying Opportunity • Oct 11
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¥16.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.6% over the last 3 years. Earnings per share has declined by 23%. Revenue is forecast to grow by 23% in 2 years. Earnings is forecast to grow by 77% in the next 2 years. Annonce • Sep 30
Joyoung Co.,Ltd to Report Q3, 2023 Results on Oct 31, 2023 Joyoung Co.,Ltd announced that they will report Q3, 2023 results on Oct 31, 2023 Major Estimate Revision • Sep 05
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥11.1b to CN¥10.5b. EPS estimate also fell from CN¥0.927 per share to CN¥0.783 per share. Net income forecast to grow 60% next year vs 24% growth forecast for Consumer Durables industry in China. Consensus price target down from CN¥17.46 to CN¥16.50. Share price rose 3.2% to CN¥14.56 over the past week. Reported Earnings • Aug 30
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: CN¥0.17 (down from CN¥0.23 in 2Q 2022). Revenue: CN¥2.43b (up 1.8% from 2Q 2022). Net income: CN¥125.8m (down 30% from 2Q 2022). Profit margin: 5.2% (down from 7.6% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 30%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Consumer Durables industry in China. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has fallen by 32% per year, which means it is performing significantly worse than earnings. Annonce • May 23
Joyoung Co.,Ltd Announces Final Profit Distribution Plan to Be Implemented on A Shares for the Year 2022, Payable on 30 May 2023 Joyoung Co.,Ltd announced final profit distribution plan to be implemented on A shares as cash dividend per ten shares (tax included) of CNY 3.00000000 for the year 2022, payable on 30 May 2023. Record date is 29 May 2023. Ex-date is 30 May 2023. Board Change • May 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 3 highly experienced directors. Independent Director Shiyuan Han was the last 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: Insufficient board refreshment. Reported Earnings • Apr 28
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: EPS: CN¥0.16 (down from CN¥0.22 in 1Q 2022). Revenue: CN¥1.89b (down 19% from 1Q 2022). Net income: CN¥121.4m (down 27% from 1Q 2022). Profit margin: 6.4% (down from 7.1% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 15%. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Consumer Durables industry in China. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 20% per year. Annonce • Nov 11
Joyoung Co.,Ltd Announces Interim Profit Distribution on Plan A for 2022, Payable on November 18, 2022 Joyoung Co.,Ltd announced the interim Cash dividend/10 shares (tax included): CNY 5.00000000 on share A for 2022. Record date: 17 November 2022, Ex-date: 18 November 2022 and Payment date: 18 November 2022. Reported Earnings • Oct 28
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: CN¥0.21 (down from CN¥0.29 in 3Q 2021). Revenue: CN¥2.21b (down 3.2% from 3Q 2021). Net income: CN¥158.2m (down 25% from 3Q 2021). Profit margin: 7.1% (down from 9.3% in 3Q 2021). Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) also missed analyst estimates by 24%. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Consumer Durables industry in China. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Annonce • Sep 30
Joyoung Co.,Ltd Approves Interim Profit Distribution for 2022 Joyoung Co.,Ltd announced at the EGM held on September 28, 2022 that the company approved interim Cash dividend/10 shares (tax included) of CNY5.00000000 for 2022. Annonce • Aug 31
Joyoung Co.,Ltd Announces Interim Dividend Proposal for the First Half of 2022 Joyoung Co.,Ltd proposed cash dividend of CNY 5.00000000 per 10 shares for the first half of 2022. Major Estimate Revision • Aug 31
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥11.5b to CN¥10.7b. EPS estimate also fell from CN¥1.07 per share to CN¥0.96 per share. Net income forecast to grow 7.8% next year vs 36% growth forecast for Consumer Durables industry in China. Consensus price target broadly unchanged at CN¥18.16. Share price rose 3.4% to CN¥15.70 over the past week. Annonce • Jun 28
Joyoung Announces Joyoung Y1 Cooking Blender, Brand New, and Much More Powerful High-Capacity Blender Joyoung announced that it is bringing the world the Joyoung Y1 cooking blender, a brand new, and much more powerful high-capacity blender that can cook, mix, juice, puree, churn, and so much more. The best part - it self-cleans. The Smart Touch Screen makes food preparation friendly for the whole family, with easy-to-use functions anyone understands and easily falls in love with. The blender comes with its famous almond milk and oat milk function, and now it can make a fresh cup of almond milk in just 3 minutes. The Y1 cooking blender also has a soup function, and does exactly what millions of consumers have been dreaming of doing - with a touch of a button, a bowl of mouth-watering tomato or pumpkin soup is made. The Y1 cooking blender, the self-cleaning mode will automatically start after the drinks have been done, or one can find the function button on the touch screen. The Y1 cooking blender also comes with a sterilization function, which offers hands-free and high-temperature deep cleaning of the blender, keeping the most hidden nook and corner in the machine germ-free. The Joyoung Y1 cooking blender is the product in Joyoung's hero product series - The Y series; it was just launched in early 2022, and is currently on sale for $424.99 on Amazon Joyoung Official Store (Retail price: $499.99). Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥19.22, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 15x in the Consumer Durables industry in China. Total returns to shareholders of 5.3% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥27.05 per share. Reported Earnings • May 02
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: CN¥0.22 (down from CN¥0.24 in 1Q 2021). Revenue: CN¥2.33b (up 3.8% from 1Q 2021). Net income: CN¥166.2m (down 7.7% from 1Q 2021). Profit margin: 7.1% (down from 8.0% in 1Q 2021). Revenue exceeded analyst estimates by 8.3%. Earnings per share (EPS) also surpassed analyst estimates by 5.8%. Over the next year, revenue is forecast to grow 12%, compared to a 15% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Annonce • May 02
Joyoung Co.,Ltd Announces Final Cash Dividend on A Shares for the Year 2021, Payable on May 10, 2022 Joyoung Co.,Ltd announced final cash dividend on A shares (tax included) is CNY 10.000000 per 10 shares for the year 2021. Record date is May 9, 2022. Ex-date is May 10, 2022. The dividend will be payable on May 10, 2022. Price Target Changed • Apr 27
Price target decreased to CN¥18.54 Down from CN¥24.69, the current price target is an average from 15 analysts. New target price is 31% above last closing price of CN¥14.14. Stock is down 58% over the past year. The company is forecast to post earnings per share of CN¥1.08 for next year compared to CN¥0.97 last year. Annonce • Apr 26
Joyoung Approves Profit Distribution of Cash Dividend for the Year 2021 Joyoung held its Annual General Meeting of 2021 on April 22, 2022, during it approved profit distribution of cash dividend of CNY 10.00000000 per ten shares. Annonce • Apr 08
Joyoung Co.,Ltd (SZSE:002242) commences an Equity Buyback Plan for CNY 360 million worth of its shares, under the authorization approved on November 19, 2021. Joyoung Co.,Ltd (SZSE:002242) commences share repurchases on April 6, 2022, under the program mandated by the shareholders in the Extraordinary General Meeting held on November 19, 2021. As per the mandate, the company is authorized to repurchase class A shares for not more than CNY 360 million. The shares will be purchased at a price not exceeding CNY 30 per share. The shares repurchased will be used to implement equity incentives or employee stock ownership plans The repurchase will be funded from company's own or self-raised funds. The repurchase program is valid for a period of 12 months from shareholders' approval. Major Estimate Revision • Apr 05
Consensus revenue estimates fall by 13% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥13.2b to CN¥11.5b. EPS estimate fell from CN¥1.39 to CN¥1.08 per share. Net income forecast to grow 11% next year vs 25% growth forecast for Consumer Durables industry in China. Consensus price target down from CN¥24.69 to CN¥17.85. Share price was steady at CN¥16.42 over the past week. Annonce • Apr 02
Joyoung Co.,Ltd, Annual General Meeting, Apr 22, 2022 Joyoung Co.,Ltd, Annual General Meeting, Apr 22, 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 approve 2021 annual accounts; to approve 2021 annual report and its summary; to approve 2021 profit distribution plan; to approve Purchase of wealth management products with idle proprietary funds by the Company and controlled subsidiaries; to approve 2022 estimated continuing connected transactions; to approve reappointment of 2022 audit firm; to approve confirmation of 2021 remuneration for directors; to approve confirmation of 2021 remuneration for supervisors; to approve the first phase employee stock ownership plan (draft) and its summary; to approve management measures for the first phase employee stock ownership plan; to approve amendments to the articles of associations of the Company; and to consider other matters. Annonce • Mar 31
Joyoung Co.,Ltd Proposes the Profit Distribution of Final Cash Dividend for the Year 2021 Joyoung Co.,Ltd proposed the profit distribution of final cash dividend of CNY 10.00000000 per ten shares (tax included) for the year 2021. Reported Earnings • Mar 31
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥0.97 (down from CN¥1.23 in FY 2020). Revenue: CN¥10.5b (down 6.1% from FY 2020). Net income: CN¥745.6m (down 21% from FY 2020). Profit margin: 7.1% (down from 8.4% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 9.7%. Earnings per share (EPS) also missed analyst estimates by 21%. Over the next year, revenue is forecast to grow 11%, compared to a 15% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Price Target Changed • Mar 31
Price target decreased to CN¥21.16 Down from CN¥25.98, the current price target is an average from 13 analysts. New target price is 30% above last closing price of CN¥16.33. Stock is down 51% over the past year. Board Change • Dec 06
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Shiyuan Han was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Nov 17
Price target decreased to CN¥27.73 Down from CN¥30.21, the current price target is an average from 16 analysts. New target price is 12% above last closing price of CN¥24.67. Stock is down 31% over the past year. The company is forecast to post earnings per share of CN¥1.24 for next year compared to CN¥1.23 last year. Reported Earnings • Oct 27
Third quarter 2021 earnings released: EPS CN¥0.29 (vs CN¥0.30 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2021 results: Revenue: CN¥2.29b (down 9.3% from 3Q 2020). Net income: CN¥211.7m (down 6.4% from 3Q 2020). Profit margin: 9.3% (up from 9.0% in 3Q 2020). The increase in margin was driven by lower expenses. 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 16% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Sep 03
Price target decreased to CN¥31.43 Down from CN¥34.81, the current price target is an average from 15 analysts. New target price is 50% above last closing price of CN¥20.92. Stock is down 54% over the past year.