Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥41.49, the stock trades at a forward P/E ratio of 47x. Average forward P/E is 32x in the Electronic industry in China. Total loss to shareholders of 22% over the past three years. Annonce • Jul 10
Rigol Technologies Co., Ltd. has completed a Follow-on Equity Offering in the amount of HKD 1.140405 billion. Rigol Technologies Co., Ltd. has completed a Follow-on Equity Offering in the amount of HKD 1.140405 billion.
Security Name: H Shares
Security Type: Common Stock
Securities Offered: 2,480,300
Price\Range: HKD 45.98
Discount Per Security: HKD 1.8392
Security Name: H Shares
Security Type: Common Stock
Securities Offered: 11,876,800
Price\Range: HKD 45.98
Discount Per Security: HKD 1.8392
Security Name: H Shares
Security Type: Common Stock
Securities Offered: 10,445,100
Price\Range: HKD 45.98
Discount Per Security: HKD 1.8392
Transaction Features: New Market Listing; Regulation S; Sponsor Backed Offering Annonce • Jun 30
Rigol Technologies Co., Ltd. to Report First Half, 2026 Results on Aug 26, 2026 Rigol Technologies Co., Ltd. announced that they will report first half, 2026 results on Aug 26, 2026 Board Change • May 20
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Liu Jun was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annonce • May 07
Rigol Technologies Co., Ltd., Annual General Meeting, May 27, 2026 Rigol Technologies Co., Ltd., Annual General Meeting, May 27, 2026, at 13:00 China Standard Time. Location: No. 8, Keling Road, Suzhou National Hi-tech District, Jiangsu China Annonce • Mar 30
Rigol Technologies Co., Ltd. to Report Q1, 2026 Results on Apr 21, 2026 Rigol Technologies Co., Ltd. announced that they will report Q1, 2026 results on Apr 21, 2026 Annonce • Dec 26
Rigol Technologies Co., Ltd. to Report Fiscal Year 2025 Results on Mar 26, 2026 Rigol Technologies Co., Ltd. announced that they will report fiscal year 2025 results on Mar 26, 2026 Annonce • Sep 30
Rigol Technologies Co., Ltd. to Report Q3, 2025 Results on Oct 28, 2025 Rigol Technologies Co., Ltd. announced that they will report Q3, 2025 results on Oct 28, 2025 Annonce • Jun 30
Rigol Technologies Co., Ltd. to Report First Half, 2025 Results on Aug 28, 2025 Rigol Technologies Co., Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Annonce • Jun 04
Rigol Technologies Co., Ltd., Annual General Meeting, Jun 25, 2025 Rigol Technologies Co., Ltd., Annual General Meeting, Jun 25, 2025, at 13:00 China Standard Time. Location: No. 8, Keling Road, National Hi-tech District, Suzhou, Jiangsu China Annonce • May 08
Rigol Technologies Co., Ltd. (SHSE:688337) announces an Equity Buyback for CNY 50 million worth of its shares. Rigol Technologies Co., Ltd. (SHSE:688337) announces a share repurchase program. Under the program, the company will repurchase up to CNY 50 million worth of its A shares. The repurchase price will not be more than CNY 56.79 per share. The repurchased shares will be used for equity incentive plans. The program is valid for 12 months. Annonce • Mar 28
Rigol Technologies Co., Ltd. to Report Q1, 2025 Results on Apr 30, 2025 Rigol Technologies Co., Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Annonce • Dec 27
Rigol Technologies Co., Ltd. to Report Fiscal Year 2024 Results on Apr 01, 2025 Rigol Technologies Co., Ltd. announced that they will report fiscal year 2024 results on Apr 01, 2025 Buy Or Sell Opportunity • Nov 11
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 87% to CN¥48.50. The fair value is estimated to be CN¥38.44, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 56% in 2 years. Earnings are forecast to grow by 126% in the next 2 years. Annonce • Nov 05
RIGOL Introduces Oscilloscope & Generator Lines In a parallel to the traditional test setup of signal generation and signal acquisition, RIGOL Technologies announced the latest additions to its portfolio of performance measurement equipment with the introduction of the DG5000 Pro Series Generators and DHO/MHO5000 Series Oscilloscopes. The DHO/MHO5000 Series bring next-level performance to RIGOL's respected line of high-resolution oscilloscopes, while the DG5000 Pro generators do the same for the company's capable Pro Series arbitrary waveform generators. Combining 12-bit resolution with up to 1 GHz bandwidth, up to 8 channels, and mixed-signal configurations, the DHO/MHO5000 Series High-Resolution Oscilloscopes have a lot to offer designers, engineers, researchers, and educators alike. The DHO5000 Series models are dedicated digital oscilloscopes, with configurations offering 4 or 8 analog input channels and either 500 MHz or 1 GHz bandwidth. These instruments deliver 4 GSa/s maximum real-time sampling, with the 4-channel units providing that rate across all channels. For mixed-signal measurement applications, the MHO5000 Series models combine 4 or 6 analog input channels with 16 digital channels and similar bandwidth choices as the DHO5000 models. For additional utility, an integrated function generator is an available option for the 4-channel MHO5000 models. All 5000 Series oscilloscopes provide 12-bit resolution and 500 Mpts record length. A 10.1-inch color touch screen provides both user-friendly operation and improved signal visualization. The DHO/MHO5000 Series High-Resolution Oscilloscopes deliver the performance required for accurate testing of complex waveforms and support the measurement needs in a wide variety of applications, ranging from embedded systems debug and power supply test to three-phase motor test and multichannel data acquisition. DG5000 Pro – Higher Resolution. Higher Performance. Lower Price: Offering 16-bit vertical resolution, up to 500 MHz maximum output frequency, 2.5 GSa/s maximum sample rate and a blazingly fast 0.8 ns (800 ps) square wave rise time, the DG5000 Pro is primed to support the high-frequency waveform and complex sequence generation needs of engineers and researchers. The DG5000 Pro Series, in addition to the impressive banner specifications above, delivers a maximum arbitrary waveform length of 128 Mpts/channel (64 Mpts/channel is standard), and sports 10.1- inch color touch screen. The new generator also provides incredible utility by supporting multi-pulse output, a variety of analog and digital modulation types, and IQ digital modulation. Sequence Mode, introduced with the DG800/900 Pro generators, is an option and enables the playback of intricate pattern segments, with looping of up to 512 cycles. Sequence Mode also enables complex functions like repeat, wait, event, and jump. To address waveform generation risks—interference from ground loops, damage to sensitive electronic equipment due to potential differences, and signal impurity due to parasitic effects—found in some complex test environments, the DG5000 Pro includes ground isolation (requires battery holder option). The new DG5000 Pro Series Arbitrary Waveform Generators bring performance and value to applications including embedded circuit development, power device performance verification, automotive electronic design signal simulation, consumer electronic sensor signal simulation, logic chip development and optoelectronic device research. The DHO/MHO5000 Series High-Resolution Oscilloscopes and DG5000 Pro Series Arbitrary Waveform Generators are available to order now and begin shipping this month. Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.29 (vs CN¥0.12 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.29 (up from CN¥0.12 in 3Q 2023). Revenue: CN¥227.8m (up 41% from 3Q 2023). Net income: CN¥52.5m (up 138% from 3Q 2023). Profit margin: 23% (up from 14% in 3Q 2023). Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in China. Buy Or Sell Opportunity • Oct 15
Now 21% undervalued Over the last 90 days, the stock has risen 21% to CN¥30.59. The fair value is estimated to be CN¥38.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last year. Meanwhile, the company has become profitable. Revenue is forecast to grow by 90% in 2 years. Earnings are forecast to grow by 221% in the next 2 years. New Risk • Sep 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 8.2% 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: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 135% Paying a dividend despite having no free cash flows. High level of non-cash earnings (21% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Profit margins are more than 30% lower than last year (10% net profit margin). Shareholders have been diluted in the past year (6.9% increase in shares outstanding). Annonce • Sep 30
Rigol Technologies Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Rigol Technologies Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 New Risk • Sep 11
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 10% Last year net profit margin: 16% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 134% Paying a dividend despite having no free cash flows. High level of non-cash earnings (21% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (10% net profit margin). Shareholders have been diluted in the past year (2.9% increase in shares outstanding). Annonce • Aug 21
Rigol Technologies Co., Ltd. (SHSE:688337) completed the acquisition of 67.74% stake in Beijing Naishu Technology Co., Ltd. from a group of shareholders. Rigol Technologies Co., Ltd. (SHSE:688337) agreed to acquire 67.74% stake in Beijing Naishu Technology Co., Ltd. from a group of shareholders for approximately CNY 250 million on January 8, 2024. Prior to the transaction, Rigol Technologies Co., Ltd. (SHSE:688337) held 32.2581%. Under the terms, Rigol Technologies is acquiring 67.74% stake in Beijing Naishu Technology for CNY 252 million by issuing 6,999,997 shares to Wu Qiongzhi, Sun Lin, Sun Ningxiao, Jin Zhaojian, Xu Jialin, Liu Jie and Xing Tonghe. Zhou Yanming, Wang Sheng and Zhang Wenjie of Guotai Junan Securities Co., Ltd. (SHSE:601211) acted as the financial advisor, Feng Cheng and Wang Fei of Jun He Law Offices acted as the legal advisor and Wang Qilin and Jia Shunhao of Zhonghua Certified Public Accountants LLP acted as the accountant for Rigol Technologies Co., Ltd. (SHSE:688337). The listed company has held the 2023 annual general meeting of shareholders on April 23, 2024 to review and approve the transaction plan. The transaction was approved by the Shanghai Stock Exchange and registered with the China Securities Regulatory Commission. As of Announcement on July 12, 2024, Rigol Technologies Co., Ltd. will issue 7.1 shares at a price of CNY 35.5 per share.
Rigol Technologies Co., Ltd. (SHSE:688337) completed the acquisition of 67.74% stake in Beijing Naishu Technology Co., Ltd. from a group of shareholders on August 20, 2024. New Risk • Jul 23
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 7.3% 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. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 103% Paying a dividend despite having no free cash flows. High level of non-cash earnings (30% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Shareholders have been diluted in the past year (3.1% increase in shares outstanding). Annonce • Jun 28
Rigol Technologies Co., Ltd. to Report First Half, 2024 Results on Aug 30, 2024 Rigol Technologies Co., Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Reported Earnings • May 01
First quarter 2024 earnings released: EPS: CN¥0.03 (vs CN¥0.13 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.03 (down from CN¥0.13 in 1Q 2023). Revenue: CN¥151.0m (down 3.5% from 1Q 2023). Net income: CN¥6.31m (down 73% from 1Q 2023). Profit margin: 4.2% (down from 15% in 1Q 2023). Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in China. Annonce • Apr 03
Rigol Technologies Co., Ltd., Annual General Meeting, Apr 23, 2024 Rigol Technologies Co., Ltd., Annual General Meeting, Apr 23, 2024, at 13:00 China Standard Time. Location: The Company's Meeting Room, Suzhou, Jiangsu China Annonce • Mar 29
Rigol Technologies Co., Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Rigol Technologies Co., Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Reported Earnings • Feb 27
Full year 2023 earnings released: EPS: CN¥0.60 (vs CN¥0.56 in FY 2022) Full year 2023 results: EPS: CN¥0.60 (up from CN¥0.56 in FY 2022). Revenue: CN¥670.5m (up 6.3% from FY 2022). Net income: CN¥108.3m (up 17% from FY 2022). Profit margin: 16% (up from 15% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 33% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Electronic industry in China. New Risk • Feb 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 8.6% 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: Major Risk High level of non-cash earnings (30% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.6% average weekly change). Shareholders have been diluted in the past year (3.1% increase in shares outstanding). Annonce • Feb 07
Rigol Technologies Co., Ltd. (SHSE:688337) announces an Equity Buyback for CNY 50 million worth of its shares. Rigol Technologies Co., Ltd. (SHSE:688337) announces a share repurchase program. Under the program, the company will repurchase up to CNY 50 million worth of its shares. The repurchase price will not be more than CNY 58 per share. The repurchases will be funded using company’s own funds. The repurchased shares will be used for equity incentive plans. The program is valid for 12 months. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥30.60, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 17x in the Electronic industry in China. Board Change • Jan 10
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 Liu Jun 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. Annonce • Jan 09
Rigol Technologies Plans to Buy 67.7% Stake in Electronics Firm Rigol Technologies Co., Ltd. (SHSE:688337) said it plans to buy 67.7% stake in electronics firm, transaction price to be confirmed. New Risk • Nov 12
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (30% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.8% average weekly change). Shareholders have been diluted in the past year (3.1% increase in shares outstanding). Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: CN¥0.12 (vs CN¥0.12 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.12 (up from CN¥0.12 in 3Q 2022). Revenue: CN¥161.8m (up 5.8% from 3Q 2022). Net income: CN¥22.0m (up 2.0% from 3Q 2022). Profit margin: 14% (in line with 3Q 2022). Revenue is forecast to grow 37% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Electronic industry in China. Valuation Update With 7 Day Price Move • Oct 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥42.21, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 22x in the Electronic industry in China. Simply Wall St's valuation model estimates the intrinsic value at CN¥74.53 per share. Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: CN¥0.13 (vs CN¥0.14 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.13 (down from CN¥0.14 in 2Q 2022). Revenue: CN¥154.5m (up 6.7% from 2Q 2022). Net income: CN¥22.9m (down 5.7% from 2Q 2022). Profit margin: 15% (down from 17% in 2Q 2022). Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in China. Buying Opportunity • Aug 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 9.2%. The fair value is estimated to be CN¥65.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last year. Earnings per share has grown by 603%. Revenue is forecast to grow by 92% in 2 years. Earnings is forecast to grow by 162% in the next 2 years. Annonce • Jun 28
Rigol Technologies Co., Ltd. to Report First Half, 2023 Results on Aug 30, 2023 Rigol Technologies Co., Ltd. announced that they will report first half, 2023 results on Aug 30, 2023