New Risk • May 25
New major risk - Revenue and earnings growth Earnings have declined by 4.7% 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 Risk Earnings have declined by 4.7% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (126% payout ratio). Share price has been volatile over the past 3 months (8.9% average weekly change). Annuncio • May 23
Pinming Technology Co., Ltd. (SHSE:688109) announces an Equity Buyback for CNY 80 million worth of its shares. Pinming Technology Co., Ltd. (SHSE:688109) announces a share repurchase program. Under the program, the company will repurchase up to CNY 80 million worth of its shares. The repurchase price will not exceed CNY 153 per share. The repurchased shares will be used for ESOP or equity incentives. Shares not used within 3 years after the completion of the repurchase will be cancelled. The program will be funded from company's own funds. The plan is valid for 6 months from the Company's Directorate's Approval Date. Annuncio • Apr 24
Pinming Technology Co., Ltd., Annual General Meeting, May 14, 2026 Pinming Technology Co., Ltd., Annual General Meeting, May 14, 2026, at 14:30 China Standard Time. Location: 5F, Tower C, Building B, No. 3, Xidoumen Road, Xihu District, Hangzhou, Zhejiang China Reported Earnings • Apr 24
First quarter 2026 earnings released: CN¥0.18 loss per share (vs CN¥0.01 profit in 1Q 2025) First quarter 2026 results: CN¥0.18 loss per share (down from CN¥0.01 profit in 1Q 2025). Revenue: CN¥44.3m (down 32% from 1Q 2025). Net loss: CN¥13.8m (down CN¥14.8m from profit in 1Q 2025). Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 60% per year, which means it is significantly lagging earnings growth. Annuncio • Mar 30
Pinming Technology Co., Ltd. to Report Q1, 2026 Results on Apr 24, 2026 Pinming Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 24, 2026 Reported Earnings • Mar 05
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.60 (up from CN¥0.40 in FY 2024). Revenue: CN¥437.4m (down 2.2% from FY 2024). Net income: CN¥47.3m (up 50% from FY 2024). Profit margin: 11% (up from 7.0% in FY 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 9.0%. Earnings per share (EPS) also missed analyst estimates by 27%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 73% per year, which means it is significantly lagging earnings growth. Annuncio • Dec 26
Pinming Technology Co., Ltd. to Report Fiscal Year 2025 Results on Apr 24, 2026 Pinming Technology Co., Ltd. announced that they will report fiscal year 2025 results on Apr 24, 2026 Reported Earnings • Oct 26
Third quarter 2025 earnings released: EPS: CN¥0.21 (vs CN¥0.06 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.21 (up from CN¥0.06 in 3Q 2024). Revenue: CN¥100.1m (up 8.8% from 3Q 2024). Net income: CN¥17.2m (up 263% from 3Q 2024). Profit margin: 17% (up from 5.2% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has only increased by 84% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Oct 13
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 261% to CN¥119. The fair value is estimated to be CN¥95.84, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 95%. Annuncio • Sep 30
Pinming Technology Co., Ltd. to Report Q3, 2025 Results on Oct 25, 2025 Pinming Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 25, 2025 Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥49.38, the stock trades at a trailing P/E ratio of 70.5x. Average trailing P/E is 86x in the Software industry in China. Total returns to shareholders of 161% over the past three years. New Risk • Aug 13
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: Major Risk Earnings have declined by 35% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.6% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥42.95, the stock trades at a trailing P/E ratio of 78.9x. Average trailing P/E is 101x in the Software industry in China. Total returns to shareholders of 87% over the past three years. New Risk • Jul 02
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 Risk Earnings have declined by 35% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.2% average weekly change). Large one-off items impacting financial results. Annuncio • Jun 30
Pinming Technology Co., Ltd. to Report First Half, 2025 Results on Aug 23, 2025 Pinming Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 23, 2025 Declared Dividend • May 26
Dividend increased to CN¥0.38 Dividend of CN¥0.38 is 27% higher than last year. Ex-date: 30th May 2025 Payment date: 30th May 2025 Dividend yield will be 1.4%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by both earnings (75% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 16% to shift the payout ratio to a potentially unsustainable range, which is more than the 15% EPS decline seen over the last 5 years. New Risk • Apr 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 661% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 41% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (95% payout ratio). Share price has been volatile over the past 3 months (8.8% average weekly change). Large one-off items impacting financial results. Annuncio • Apr 20
Pinming Technology Co., Ltd., Annual General Meeting, May 12, 2025 Pinming Technology Co., Ltd., Annual General Meeting, May 12, 2025, at 14:30 China Standard Time. Location: 5F, Tower C, Building B, No. 3, Xidoumen Road, Xihu District, Hangzhou, Zhejiang China Reported Earnings • Apr 19
Full year 2024 earnings released: EPS: CN¥0.40 (vs CN¥0.16 in FY 2023) Full year 2024 results: EPS: CN¥0.40 (up from CN¥0.16 in FY 2023). Revenue: CN¥447.4m (up 2.7% from FY 2023). Net income: CN¥31.5m (up 153% from FY 2023). Profit margin: 7.0% (up from 2.9% in FY 2023). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Apr 08
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 1.6% to CN¥23.00. The fair value is estimated to be CN¥18.72, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 18%. New Risk • Apr 07
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 8.3% 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 Risk Earnings have declined by 41% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.3% average weekly change). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥21.75, the stock trades at a trailing P/E ratio of 54.1x. Average trailing P/E is 90x in the Software industry in China. Total loss to shareholders of 14% over the past three years. Annuncio • Mar 28
Pinming Technology Co., Ltd. to Report Q1, 2025 Results on Apr 25, 2025 Pinming Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 25, 2025 Reported Earnings • Feb 25
Full year 2024 earnings released: EPS: CN¥0.40 (vs CN¥0.16 in FY 2023) Full year 2024 results: EPS: CN¥0.40 (up from CN¥0.16 in FY 2023). Revenue: CN¥447.3m (up 2.7% from FY 2023). Net income: CN¥31.2m (up 151% from FY 2023). Profit margin: 7.0% (up from 2.9% in FY 2023). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥29.60, the stock trades at a trailing P/E ratio of 57x. Average trailing P/E is 94x in the Software industry in China. Total loss to shareholders of 4.2% over the past three years. Annuncio • Dec 27
Pinming Technology Co., Ltd. to Report Fiscal Year 2024 Results on Apr 19, 2025 Pinming Technology Co., Ltd. announced that they will report fiscal year 2024 results on Apr 19, 2025 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¥30.60, the stock trades at a trailing P/E ratio of 58.9x. Average trailing P/E is 98x in the Software industry in China. Total loss to shareholders of 17% over the past three years. Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: CN¥0.06 (vs CN¥0.019 loss in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.06 (up from CN¥0.019 loss in 3Q 2023). Revenue: CN¥92.0m (up 1.5% from 3Q 2023). Net income: CN¥4.74m (up CN¥6.21m from 3Q 2023). Profit margin: 5.2% (up from net loss in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥27.66, the stock trades at a trailing P/E ratio of 62.5x. Average trailing P/E is 73x in the Software industry in China. Total loss to shareholders of 24% over the past three years. Annuncio • Sep 30
Pinming Technology Co., Ltd. to Report Q3, 2024 Results on Oct 25, 2024 Pinming Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 25, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥30.50, the stock trades at a trailing P/E ratio of 68.9x. Average trailing P/E is 69x in the Software industry in China. Total loss to shareholders of 15% over the past three years. Reported Earnings • Aug 24
Second quarter 2024 earnings released: EPS: CN¥0.25 (vs CN¥0.007 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.25 (up from CN¥0.007 in 2Q 2023). Revenue: CN¥126.4m (up 17% from 2Q 2023). Net income: CN¥18.2m (up CN¥17.6m from 2Q 2023). Profit margin: 14% (up from 0.5% in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance. Annuncio • Jun 29
Pinming Technology Co., Ltd. to Report First Half, 2024 Results on Aug 24, 2024 Pinming Technology Co., Ltd. announced that they will report first half, 2024 results on Aug 24, 2024 New Risk • May 08
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 61% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 70% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (143% payout ratio). Large one-off items impacting financial results. Annuncio • Apr 26
Pinming Technology Co., Ltd., Annual General Meeting, May 16, 2024 Pinming Technology Co., Ltd., Annual General Meeting, May 16, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Hangzhou, Zhejiang China Reported Earnings • Apr 25
First quarter 2024 earnings released: CN¥0.12 loss per share (vs CN¥0.17 loss in 1Q 2023) First quarter 2024 results: CN¥0.12 loss per share (improved from CN¥0.17 loss in 1Q 2023). Revenue: CN¥58.8m (down 1.0% from 1Q 2023). Net loss: CN¥9.74m (loss narrowed 29% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Annuncio • Mar 30
Pinming Technology Co., Ltd. to Report Q1, 2024 Results on Apr 25, 2024 Pinming Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 25, 2024 Reported Earnings • Feb 25
Full year 2023 earnings released: EPS: CN¥0.15 (vs CN¥0.71 loss in FY 2022) Full year 2023 results: EPS: CN¥0.15 (up from CN¥0.71 loss in FY 2022). Revenue: CN¥436.8m (flat on FY 2022). Net income: CN¥12.1m (up CN¥68.1m from FY 2022). Profit margin: 2.8% (up from net loss in FY 2022). 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 7.5% 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 Earnings have declined by 45% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.5% average weekly change). Reported Earnings • Oct 25
Third quarter 2023 earnings released: CN¥0.019 loss per share (vs CN¥0.43 loss in 3Q 2022) Third quarter 2023 results: CN¥0.019 loss per share (improved from CN¥0.43 loss in 3Q 2022). Revenue: CN¥90.7m (up 2.6% from 3Q 2022). Net loss: CN¥1.47m (loss narrowed 96% from 3Q 2022). Annuncio • Sep 02
Pinming Technology Co., Ltd. (SHSE:688109) announces an Equity Buyback for CNY 50 million worth of its shares. Pinming Technology Co., Ltd. (SHSE:688109) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 50 million worth of its shares. The shares will be repurchased at a price of not more than CNY 37 per share. The repurchased shares will be used for equity incentives or employee stock ownership plans. The shares will be repurchased out of own funds of the company or self-raised funds. The plan will be valid for 12 months from the Board of Directors' approval. Reported Earnings • Aug 25
Second quarter 2023 earnings released: EPS: CN¥0.007 (vs CN¥0.09 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.007 (down from CN¥0.09 in 2Q 2022). Revenue: CN¥108.3m (down 3.4% from 2Q 2022). Net income: CN¥545.7k (down 92% from 2Q 2022). Profit margin: 0.5% (down from 6.1% in 2Q 2022). The decrease in margin was primarily driven by lower revenue. Annuncio • Jun 28
Pinming Technology Co., Ltd. to Report First Half, 2023 Results on Aug 25, 2023 Pinming Technology Co., Ltd. announced that they will report first half, 2023 results on Aug 25, 2023 Reported Earnings • Apr 26
First quarter 2023 earnings released: CN¥0.25 loss per share (vs CN¥0.46 loss in 1Q 2022) First quarter 2023 results: CN¥0.25 loss per share (improved from CN¥0.46 loss in 1Q 2022). Revenue: CN¥59.4m (down 13% from 1Q 2022). Net loss: CN¥13.7m (loss narrowed 46% from 1Q 2022). Reported Earnings • Feb 27
Full year 2022 earnings released: CN¥1.05 loss per share (vs CN¥1.23 profit in FY 2021) Full year 2022 results: CN¥1.05 loss per share (down from CN¥1.23 profit in FY 2021). Revenue: CN¥436.4m (down 8.2% from FY 2021). Net loss: CN¥56.8m (down 191% from profit in FY 2021). Board Change • Nov 16
Less than half of directors are independent 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. No highly experienced directors. 1 independent director (6 non-independent directors). Director Jun Li was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 25
Third quarter 2022 earnings released: CN¥0.62 loss per share (vs CN¥0.12 loss in 3Q 2021) Third quarter 2022 results: CN¥0.62 loss per share (further deteriorated from CN¥0.12 loss in 3Q 2021). Revenue: CN¥88.3m (down 15% from 3Q 2021). Net loss: CN¥34.6m (loss widened 460% from 3Q 2021). Reported Earnings • Aug 24
Second quarter 2022 earnings released: EPS: CN¥0.13 (vs CN¥0.48 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.13 (down from CN¥0.48 in 2Q 2021). Revenue: CN¥112.1m (down 6.1% from 2Q 2021). Net income: CN¥6.88m (down 74% from 2Q 2021). Profit margin: 6.1% (down from 22% in 2Q 2021). Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥32.99, the stock trades at a trailing P/E ratio of 74.4x. Average trailing P/E is 50x in the Software industry in China. Total loss to shareholders of 55% over the past year. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥28.58, the stock trades at a trailing P/E ratio of 64.5x. Average trailing P/E is 38x in the Software industry in China. Total loss to shareholders of 62% over the past year. Reported Earnings • Apr 27
First quarter 2022 earnings released: CN¥0.46 loss per share (vs CN¥0.33 profit in 1Q 2021) First quarter 2022 results: CN¥0.46 loss per share (down from CN¥0.33 profit in 1Q 2021). Revenue: CN¥68.0m (down 7.1% from 1Q 2021). Net loss: CN¥25.2m (down 288% from profit in 1Q 2021). Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Feb 21
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: CN¥1.23 (down from CN¥2.39 in FY 2020). Revenue: CN¥477.0m (up 26% from FY 2020). Net income: CN¥62.9m (down 36% from FY 2020). Profit margin: 13% (down from 26% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Reported Earnings • Oct 26
Third quarter 2021 earnings released: CN¥0.12 loss per share (vs CN¥0.75 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: CN¥104.4m (down 10% from 3Q 2020). Net loss: CN¥6.19m (down 120% from profit in 3Q 2020). Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥87.34, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 32x in the Software industry in China.