New Risk • May 06
New major risk - Revenue and earnings growth Earnings have declined by 8.5% 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 8.5% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (414% payout ratio). Share price has been volatile over the past 3 months (9.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.5% net profit margin). New Risk • Apr 25
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% 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: Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.3% net profit margin). New Risk • Apr 20
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 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.1% average weekly change). Profit margins are more than 30% lower than last year (3.3% net profit margin). New Risk • Apr 19
New minor risk - Dividend sustainability The company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 0.9% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Profit margins are more than 30% lower than last year (3.3% net profit margin). Reported Earnings • Apr 17
Full year 2025 earnings released: EPS: CN¥0.10 (vs CN¥0.35 in FY 2024) Full year 2025 results: EPS: CN¥0.10 (down from CN¥0.35 in FY 2024). Revenue: CN¥11.3b (down 3.2% from FY 2024). Net income: CN¥374.2m (down 70% from FY 2024). Profit margin: 3.3% (down from 11% in FY 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Annuncio • Apr 16
Caihong Display Devices Co.,Ltd., Annual General Meeting, May 12, 2026 Caihong Display Devices Co.,Ltd., Annual General Meeting, May 12, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Xianyang, Shaanxi China Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to CN¥7.02, the stock trades at a trailing P/E ratio of 64.6x. Average trailing P/E is 61x in the Electronic industry in China. Total returns to shareholders of 41% over the past three years. Annuncio • Mar 30
Caihong Display Devices Co.,Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Caihong Display Devices Co.,Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Annuncio • Dec 26
Caihong Display Devices Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 16, 2026 Caihong Display Devices Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 16, 2026 Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥6.63, the stock trades at a trailing P/E ratio of 61x. Average trailing P/E is 53x in the Electronic industry in China. Total returns to shareholders of 49% over the past three years. Reported Earnings • Oct 31
Third quarter 2025 earnings released: CN¥0.02 loss per share (vs CN¥0.088 profit in 3Q 2024) Third quarter 2025 results: CN¥0.02 loss per share (down from CN¥0.088 profit in 3Q 2024). Revenue: CN¥2.97b (up 1.5% from 3Q 2024). Net loss: CN¥72.3m (down 123% from profit in 3Q 2024). Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Annuncio • Sep 30
Caihong Display Devices Co.,Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Caihong Display Devices Co.,Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 New Risk • Sep 13
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 38% 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: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.9% net profit margin). Annuncio • Jun 30
Caihong Display Devices Co.,Ltd. to Report First Half, 2025 Results on Aug 29, 2025 Caihong Display Devices Co.,Ltd. announced that they will report first half, 2025 results on Aug 29, 2025 Annuncio • Jun 25
BOE Technology Group Company Limited agreed to acquire 30% stake in Xianyang Rainbow Optoelectronic Technology Co., Ltd. from Caihong Display Devices Co.,Ltd for approximately CNY 480 million. BOE Technology Group Company Limited agreed to acquire 30% stake in Xianyang Rainbow Optoelectronic Technology Co., Ltd. from Caihong Display Devices Co.,Ltd. for approximately CNY 480 million on June 16, 2025. BOE Technology Group Company Limited entered into agreement to acquire 30% stake in Xianyang Rainbow Optoelectronic Technology Co., Ltd. from Caihong Display Devices Co.,Ltd. for approximately CNY 480 million on June 24, 2025.Transaction has been approved by BOE Technology Group's board. Reported Earnings • Apr 19
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: CN¥0.35 (up from CN¥0.18 in FY 2023). Revenue: CN¥11.7b (up 1.7% from FY 2023). Net income: CN¥1.24b (up 88% from FY 2023). Profit margin: 11% (up from 5.8% in FY 2023). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates by 2.9%. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Electronic industry in China. 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 10% per year, which means it is significantly lagging earnings growth. Annuncio • Apr 18
Caihong Display Devices Co.,Ltd., Annual General Meeting, May 13, 2025 Caihong Display Devices Co.,Ltd., Annual General Meeting, May 13, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Xianyang, Shaanxi China Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥6.30, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 42x in the Electronic industry in China. Total returns to shareholders of 13% over the past three years. Annuncio • Mar 28
Caihong Display Devices Co.,Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Caihong Display Devices Co.,Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Annuncio • Dec 27
Caihong Display Devices Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 18, 2025 Caihong Display Devices Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 18, 2025 New Risk • Oct 31
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 27% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.088 (vs CN¥0.16 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.088 (down from CN¥0.16 in 3Q 2023). Revenue: CN¥2.93b (down 13% from 3Q 2023). Net income: CN¥313.2m (down 46% from 3Q 2023). Profit margin: 11% (down from 17% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Annuncio • Sep 30
Caihong Display Devices Co.,Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Caihong Display Devices Co.,Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥6.80, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 37x in the Electronic industry in China. Total loss to shareholders of 15% over the past three years. Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: CN¥0.18 (vs CN¥0.053 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.18 (up from CN¥0.053 in 2Q 2023). Revenue: CN¥3.16b (up 6.1% from 2Q 2023). Net income: CN¥638.2m (up 235% from 2Q 2023). Profit margin: 20% (up from 6.4% in 2Q 2023). The increase in margin was primarily driven by lower expenses. 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 8% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥7.43, the stock trades at a trailing P/E ratio of 19.1x. Average trailing P/E is 41x in the Electronic industry in China. Total loss to shareholders of 22% over the past three years. Annuncio • Jun 28
Caihong Display Devices Co.,Ltd. to Report First Half, 2024 Results on Aug 29, 2024 Caihong Display Devices Co.,Ltd. announced that they will report first half, 2024 results on Aug 29, 2024 Annuncio • Apr 21
Caihong Display Devices Co.,Ltd., Annual General Meeting, May 15, 2024 Caihong Display Devices Co.,Ltd., Annual General Meeting, May 15, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Xianyang, Shaanxi China New Risk • Apr 20
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 42% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. This is currently the only risk that has been identified for the company. Annuncio • Mar 29
Caihong Display Devices Co.,Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Caihong Display Devices Co.,Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Annuncio • Dec 29
Caihong Display Devices Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 20, 2024 Caihong Display Devices Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 20, 2024 Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.16 (vs CN¥0.21 loss in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.16 (up from CN¥0.21 loss in 3Q 2022). Revenue: CN¥3.37b (up 50% from 3Q 2022). Net income: CN¥575.8m (up CN¥1.33b from 3Q 2022). Profit margin: 17% (up from net loss in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Annuncio • Sep 30
Caihong Display Devices Co.,Ltd. to Report Q3, 2023 Results on Oct 27, 2023 Caihong Display Devices Co.,Ltd. announced that they will report Q3, 2023 results on Oct 27, 2023 Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: CN¥0.053 (vs CN¥0.11 loss in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.053 (up from CN¥0.11 loss in 2Q 2022). Revenue: CN¥2.98b (up 40% from 2Q 2022). Net income: CN¥190.3m (up CN¥592.9m from 2Q 2022). Profit margin: 6.4% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Annuncio • Jun 28
Caihong Display Devices Co.,Ltd. to Report First Half, 2023 Results on Aug 30, 2023 Caihong Display Devices Co.,Ltd. announced that they will report first half, 2023 results on Aug 30, 2023 Reported Earnings • Apr 24
Full year 2022 earnings released: CN¥0.74 loss per share (vs CN¥0.74 profit in FY 2021) Full year 2022 results: CN¥0.74 loss per share (down from CN¥0.74 profit in FY 2021). Revenue: CN¥8.97b (down 41% from FY 2021). Net loss: CN¥2.66b (down 200% from profit in FY 2021). Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 8% per year. Board Change • Nov 16
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. 10 experienced directors. 2 highly experienced directors. Independent Director Xia Meng was the last director to join the board, commencing their role in 2007. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Oct 29
Third quarter 2022 earnings released: CN¥0.27 loss per share (vs CN¥0.17 profit in 3Q 2021) Third quarter 2022 results: CN¥0.27 loss per share (down from CN¥0.17 profit in 3Q 2021). Revenue: CN¥2.02b (down 40% from 3Q 2021). Net loss: CN¥973.9m (down 257% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 26
Second quarter 2022 earnings released: CN¥0.11 loss per share (vs CN¥0.48 profit in 2Q 2021) Second quarter 2022 results: CN¥0.11 loss per share (down from CN¥0.48 profit in 2Q 2021). Revenue: CN¥2.12b (down 57% from 2Q 2021). Net loss: CN¥402.7m (down 123% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 29
First quarter 2022 earnings released: CN¥0.21 loss per share (vs CN¥0.31 profit in 1Q 2021) First quarter 2022 results: CN¥0.21 loss per share (down from CN¥0.31 profit in 1Q 2021). Revenue: CN¥2.36b (down 41% from 1Q 2021). Net loss: CN¥741.4m (down 167% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Board Change • Apr 27
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. 10 experienced directors. 2 highly experienced directors. Independent Director Xia Meng was the last director to join the board, commencing their role in 2007. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Apr 20
Full year 2021 earnings released: EPS: CN¥0.74 (vs CN¥0.23 loss in FY 2020) Full year 2021 results: EPS: CN¥0.74 (up from CN¥0.23 loss in FY 2020). Revenue: CN¥15.2b (up 45% from FY 2020). Net income: CN¥2.67b (up CN¥3.48b from FY 2020). Profit margin: 18% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS CN¥0.48 (vs CN¥0.31 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥4.93b (up 126% from 2Q 2020). Net income: CN¥1.74b (up CN¥2.84b from 2Q 2020). Profit margin: 35% (up from net loss in 2Q 2020). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥8.22, the stock trades at a trailing P/E ratio of 33.3x. Average trailing P/E is 37x in the Electronic industry in China. Total returns to shareholders of 31% over the past three years. Reported Earnings • Apr 16
Full year 2020 earnings released: CN¥0.23 loss per share (vs CN¥0.018 profit in FY 2019) The company reported a mediocre full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: CN¥10.4b (up 78% from FY 2019). Net loss: CN¥807.5m (down CN¥872.4m from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 118 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Mar 03
New 90-day high: CN¥9.15 The company is up 6.0% from its price of CN¥8.60 on 03 December 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 2.0% over the same period. Is New 90 Day High Low • Jan 26
New 90-day high: CN¥8.89 The company is up 113% from its price of CN¥4.17 on 28 October 2020. The Chinese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 7.0% over the same period. Is New 90 Day High Low • Nov 25
New 90-day high: CN¥4.85 The company is up 6.0% from its price of CN¥4.59 on 27 August 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is flat over the same period. Reported Earnings • Oct 31
Third quarter earnings released Over the last 12 months the company has reported total losses of CN¥907.2m, with losses widening by 147% from the prior year. Total revenue was CN¥8.65b over the last 12 months, up 66% from the prior year. Annuncio • Oct 27
Caihong Display Devices Co.,Ltd. to Report Q3, 2020 Results on Oct 30, 2020 Caihong Display Devices Co.,Ltd. announced that they will report Q3, 2020 results on Oct 30, 2020 Annuncio • Jul 10
Caihong Display Devices Co.,Ltd. to Report First Half, 2020 Results on Aug 28, 2020 Caihong Display Devices Co.,Ltd. announced that they will report first half, 2020 results on Aug 28, 2020