Buy Or Sell Opportunity • May 13
Now 21% overvalued Over the last 90 days, the stock has fallen 19% to CN¥3.51. The fair value is estimated to be CN¥2.90, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 76% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Apr 03
Full year 2025 earnings released: CN¥2.25 loss per share (vs CN¥1.18 loss in FY 2024) Full year 2025 results: CN¥2.25 loss per share (further deteriorated from CN¥1.18 loss in FY 2024). Revenue: CN¥174.5m (down 68% from FY 2024). Net loss: CN¥1.79b (loss widened 90% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Annonce • Apr 03
Enjoyor Technology Co., Ltd., Annual General Meeting, Apr 24, 2026 Enjoyor Technology Co., Ltd., Annual General Meeting, Apr 24, 2026, at 14:30 China Standard Time. Location: 7F, Tower G, No. 2, Xiyuan 8th Road, Xihu District, Hangzhou, Zhejiang China Annonce • Mar 31
Enjoyor Technology Co., Ltd. to Report Q1, 2026 Results on Apr 24, 2026 Enjoyor Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 24, 2026 Annonce • Dec 31
Enjoyor Technology Co., Ltd. to Report Fiscal Year 2025 Results on Apr 03, 2026 Enjoyor Technology Co., Ltd. announced that they will report fiscal year 2025 results on Apr 03, 2026 Reported Earnings • Oct 29
Third quarter 2025 earnings released: CN¥0.28 loss per share (vs CN¥0.11 loss in 3Q 2024) Third quarter 2025 results: CN¥0.28 loss per share (further deteriorated from CN¥0.11 loss in 3Q 2024). Revenue: CN¥9.16m (down 69% from 3Q 2024). Net loss: CN¥222.6m (loss widened 125% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Annonce • Sep 30
Enjoyor Technology Co., Ltd. to Report Q3, 2025 Results on Oct 29, 2025 Enjoyor Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 New Risk • Sep 07
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CN¥334m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CN¥334m free cash flow). Earnings have declined by 81% per year over the past 5 years. Annonce • Jul 02
Enjoyor Technology Co., Ltd. to Report First Half, 2025 Results on Aug 29, 2025 Enjoyor Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 29, 2025 Board Change • May 13
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Ji Hua Luo was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Annonce • Apr 29
Enjoyor Technology Co., Ltd., Annual General Meeting, May 23, 2025 Enjoyor Technology Co., Ltd., Annual General Meeting, May 23, 2025, at 14:30 China Standard Time. Annonce • Mar 31
Enjoyor Technology Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Enjoyor Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Annonce • Dec 31
Enjoyor Technology Co., Ltd. to Report Fiscal Year 2024 Results on Apr 29, 2025 Enjoyor Technology Co., Ltd. announced that they will report fiscal year 2024 results on Apr 29, 2025 New Risk • Dec 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 13% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 64% per year over the past 5 years. Reported Earnings • Oct 30
Third quarter 2024 earnings released: CN¥0.11 loss per share (vs CN¥0.03 profit in 3Q 2023) Third quarter 2024 results: CN¥0.11 loss per share (down from CN¥0.03 profit in 3Q 2023). Revenue: CN¥29.8m (down 94% from 3Q 2023). Net loss: CN¥98.8m (down CN¥121.6m from profit in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Annonce • Sep 30
Enjoyor Technology Co., Ltd. to Report Q3, 2024 Results on Oct 30, 2024 Enjoyor Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Reported Earnings • Aug 29
Second quarter 2024 earnings released: CN¥0.17 loss per share (vs CN¥0.028 profit in 2Q 2023) Second quarter 2024 results: CN¥0.17 loss per share (down from CN¥0.028 profit in 2Q 2023). Revenue: CN¥51.2m (down 89% from 2Q 2023). Net loss: CN¥78.9m (down 423% from profit in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. New Risk • Aug 28
New major risk - Revenue and earnings growth Earnings have declined by 34% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 34% per year over the past 5 years. Board Change • Jul 12
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Ji Hua Luo was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Annonce • Jun 29
Enjoyor Technology Co., Ltd. to Report First Half, 2024 Results on Aug 29, 2024 Enjoyor Technology Co., Ltd. announced that they will report first half, 2024 results on Aug 29, 2024 Annonce • May 01
Enjoyor Technology Co., Ltd., Annual General Meeting, May 24, 2024 Enjoyor Technology Co., Ltd., Annual General Meeting, May 24, 2024, at 14:30 China Standard Time. Location: 3F, Building A2, China Zhigu Fuchun Park, Jiulong Avenue, Fuyang District, Hangzhou, Zhejiang China Reported Earnings • Apr 30
Full year 2023 earnings released: CN¥0.32 loss per share (vs CN¥0.11 profit in FY 2022) Full year 2023 results: CN¥0.32 loss per share (down from CN¥0.11 profit in FY 2022). Revenue: CN¥1.17b (down 28% from FY 2022). Net loss: CN¥234.0m (down 437% from profit in FY 2022). Revenue is forecast to grow 34% p.a. on average during the next 2 years, compared to a 20% growth forecast for the IT industry in China. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥5.72, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 24x in the IT industry in China. Total loss to shareholders of 33% over the past three years. Annonce • Mar 30
Enjoyor Technology Co., Ltd. to Report Q1, 2024 Results on Apr 29, 2024 Enjoyor Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 29, 2024 New Risk • Feb 05
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 6.6% 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 (6.6% average weekly change). Shareholders have been diluted in the past year (21% increase in shares outstanding). Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥5.49, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 21x in the IT industry in China. Total loss to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥6.95, the stock trades at a trailing P/E ratio of 57.1x. Average trailing P/E is 58x in the IT industry in China. Total loss to shareholders of 5.9% over the past three years. Annonce • Dec 29
Enjoyor Technology Co., Ltd. to Report Fiscal Year 2023 Results on Apr 29, 2024 Enjoyor Technology Co., Ltd. announced that they will report fiscal year 2023 results on Apr 29, 2024 Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: CN¥0.03 (vs CN¥0.014 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.03 (up from CN¥0.014 in 3Q 2022). Revenue: CN¥488.1m (up 39% from 3Q 2022). Net income: CN¥22.8m (up 129% from 3Q 2022). Profit margin: 4.7% (up from 2.8% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Annonce • Sep 30
Enjoyor Technology Co., Ltd. to Report Q3, 2023 Results on Oct 28, 2023 Enjoyor Technology Co., Ltd. announced that they will report Q3, 2023 results at 3:00 PM, China Standard Time on Oct 28, 2023 Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: CN¥0.028 (vs CN¥0.031 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.028. Revenue: CN¥466.2m (up 11% from 2Q 2022). Net income: CN¥24.4m (up 22% from 2Q 2022). Profit margin: 5.2% (up from 4.8% in 2Q 2022). The increase in margin was driven by higher revenue. Buying Opportunity • Aug 18
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be CN¥10.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.8% over the last 3 years. Earnings per share has declined by 27%. Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: CN¥0.09 (vs CN¥0.08 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.09 (up from CN¥0.08 in 1Q 2022). Revenue: CN¥585.9m (up 15% from 1Q 2022). Net income: CN¥60.1m (up 20% from 1Q 2022). Profit margin: 10% (in line with 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Annonce • Nov 26
Enjoyor Technology Co., Ltd. Approves Board Elections Enjoyor Technology Co., Ltd. at its EGM held on November 24, 2022 approved Liu Guoping as independent director and Wang Jing as non-employee supervisor. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 11 experienced directors. No highly experienced directors. Deputy GM & Director Zhen Xing Han was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.014 (vs CN¥0.018 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.014 (down from CN¥0.018 in 3Q 2021). Revenue: CN¥351.8m (down 12% from 3Q 2021). Net income: CN¥9.95m (down 16% from 3Q 2021). Profit margin: 2.8% (down from 3.0% in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Annonce • Aug 23
Enjoyor Technology Co., Ltd. to Report Q2, 2022 Results on Aug 30, 2022 Enjoyor Technology Co., Ltd. announced that they will report Q2, 2022 results on Aug 30, 2022 Annonce • Jun 30
Enjoyor Technology Co., Ltd. Announces Final Dividend on A Shares for the Year 2021, Payable on July 6, 2022 Enjoyor Technology Co., Ltd. announced final cash dividend/10 shares (tax included) of CNY 0.35000000 on A shares for the year 2021. Record date is July 5, 2022. Ex-date is July 6, 2022. Payment date is July 6, 2022. Annonce • May 12
Enjoyor Technology Co., Ltd. Approves Final Dividend for the Year 2021 Enjoyor Technology Co., Ltd. approved at its AGM held on 06 May 2022 final dividend of CNY 0.35000000 per 10 shares for the year 2021. Board Change • Apr 27
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. Chairman of the Supervisory Board Jia Xu is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Apr 15
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CN¥0.08 (down from CN¥0.09 in 1Q 2021). Revenue: CN¥509.0m (flat on 1Q 2021). Net income: CN¥50.0m (down 13% from 1Q 2021). Profit margin: 9.8% (down from 11% in 1Q 2021). Revenue missed analyst estimates by 6.6%. Earnings per share (EPS) also missed analyst estimates by 4.0%. Over the last 3 years on average, earnings per share has increased by 9% 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 • Apr 13
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥7.60, the stock trades at a trailing P/E ratio of 37.6x. Average trailing P/E is 42x in the IT industry in China. Total loss to shareholders of 26% over the past three years. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥9.08, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 24x in the IT industry in China. Total loss to shareholders of 7.7% over the past three years. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥9.48, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 29x in the IT industry in China. Total returns to shareholders of 51% over the past three years. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.018 (vs CN¥0.02 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥399.6m (up 4.1% from 3Q 2020). Net income: CN¥11.9m (down 25% from 3Q 2020). Profit margin: 3.0% (down from 4.1% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 22
Second quarter 2021 earnings released: EPS CN¥0.052 (vs CN¥0.10 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥582.3m (up 3.3% from 2Q 2020). Net income: CN¥36.5m (down 39% from 2Q 2020). Profit margin: 6.3% (down from 11% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Annonce • Apr 29
Enjoyor Co.,Ltd Announces Final Dividend for the Year 2020 Enjoyor Co.,Ltd announced profit distribution proposal of Cash dividend/10 shares (tax included) is CNY 0.00000000 for the year 2020. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS CN¥0.09 (vs CN¥0.08 in 1Q 2020) The company reported a mediocre first quarter result with weaker revenues, although profit margins were flat and earnings improved. First quarter 2021 results: Revenue: CN¥507.7m (down 3.4% from 1Q 2020). Net income: CN¥57.7m (up 3.8% from 1Q 2020). Profit margin: 11% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 05
New 90-day low: CN¥7.23 The company is down 31% from its price of CN¥10.47 on 06 November 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is down 28% over the same period. Is New 90 Day High Low • Jan 07
New 90-day low: CN¥7.59 The company is down 31% from its price of CN¥11.00 on 09 October 2020. The Chinese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is down 21% over the same period. Is New 90 Day High Low • Dec 09
New 90-day low: CN¥9.02 The company is down 19% from its price of CN¥11.14 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 IT industry, which is down 15% over the same period. Is New 90 Day High Low • Nov 17
New 90-day low: CN¥9.97 The company is down 8.0% from its price of CN¥10.82 on 19 August 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the IT industry, which is down 12% over the same period. Is New 90 Day High Low • Oct 30
New 90-day low: CN¥10.24 The company is down 8.0% from its price of CN¥11.12 on 31 July 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the IT industry, which is down 9.0% over the same period. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥144.4m, down 3.6% from the prior year. Total revenue was CN¥2.10b over the last 12 months, down 10% from the prior year. Is New 90 Day High Low • Sep 30
New 90-day low: CN¥10.49 The company is down 1.0% from its price of CN¥10.60 on 02 July 2020. The Chinese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is flat over the same period. Annonce • Aug 25
China Securities Qianyuan Four Generations Under One Roof Inheritance Compound No1 Pvt Invt managed by Shanghai Xingyin Intelligent Technology Partnership (Limited Partnership) to acquire 5% stake in Enjoyor Co.,Ltd (SZSE:300020 from YinJiang Scientific & Technological Groupon China Securities Qianyuan Four Generations Under One Roof Inheritance Compound No1 Pvt Invt. managed by Shanghai Xingyin Intelligent Technology Partnership (Limited Partnership) to acquire 5% stake in Enjoyor Co.,Ltd (SZSE:300020 from YinJiang Scientific & Technological Group for approximately CNY330 million on August 17, 2020. The transfer price is CNY10.13 per share. The buyer will pay the first payment of the transaction consideration of CNY 90 million. on August 17, 2020. The transfer of the underlying shares shall be completed within ten trading days after the signing of the agreement and will paid CNY 210 million. The final payment of CNY32.28 million will be paid to the YinJiang Scientific & Technological Group designated account within fifteen trading days after the completion of the change registration of the underlying shares. Annonce • Aug 13
Enjoyor Co.,Ltd to Report First Half, 2020 Results on Aug 28, 2020 Enjoyor Co.,Ltd announced that they will report first half, 2020 results on Aug 28, 2020 
