Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥79.48, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 40x in the Electronic industry in China. Total returns to shareholders of 217% over the past three years. New Risk • May 22
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 8.4% 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 (23% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.4% average weekly change). Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥82.50, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 37x in the Electronic industry in China. Total returns to shareholders of 292% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥112 per share. New Risk • Apr 23
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 23% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (23% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Annuncio • Mar 30
Shenzhen Kinwong Electronic Co., Ltd. to Report Q1, 2026 Results on Apr 23, 2026 Shenzhen Kinwong Electronic Co., Ltd. announced that they will report Q1, 2026 results on Apr 23, 2026 Reported Earnings • Mar 29
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: CN¥1.30. Revenue: CN¥15.3b (up 21% from FY 2024). Net income: CN¥1.23b (up 5.3% from FY 2024). Profit margin: 8.0% (down from 9.2% in FY 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Electronic industry in China. Annuncio • Mar 28
Shenzhen Kinwong Electronic Co., Ltd., Annual General Meeting, Apr 20, 2026 Shenzhen Kinwong Electronic Co., Ltd., Annual General Meeting, Apr 20, 2026, at 14:00 China Standard Time. Location: No. 158, Guangyuan 3rd Road, Dongkeng Community, Fenghuang Subdistrict, Guangming District, Shenzhen, Guangdong China Annuncio • Dec 26
Shenzhen Kinwong Electronic Co., Ltd. to Report Fiscal Year 2025 Results on Mar 28, 2026 Shenzhen Kinwong Electronic Co., Ltd. announced that they will report fiscal year 2025 results on Mar 28, 2026 Buy Or Sell Opportunity • Dec 24
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to CN¥76.60. The fair value is estimated to be CN¥61.45, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 3.7%. Revenue is forecast to grow by 47% in 2 years. Earnings are forecast to grow by 111% in the next 2 years. Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: CN¥0.32 (vs CN¥0.28 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.32 (up from CN¥0.28 in 3Q 2024). Revenue: CN¥3.99b (up 24% from 3Q 2024). Net income: CN¥298.6m (up 20% from 3Q 2024). Profit margin: 7.5% (down from 7.7% in 3Q 2024). Revenue is forecast to grow 19% p.a. on average during the next 3 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 4% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Oct 28
Now 28% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to CN¥77.19. The fair value is estimated to be CN¥60.47, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10.0% over the last 3 years. Earnings per share has grown by 4.8%. Revenue is forecast to grow by 44% in 2 years. Earnings are forecast to grow by 96% in the next 2 years. Annuncio • Sep 30
Shenzhen Kinwong Electronic Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Shenzhen Kinwong Electronic Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥63.81, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 33x in the Electronic industry in China. Total returns to shareholders of 252% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥64.45 per share. Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to CN¥68.97, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 32x in the Electronic industry in China. Total returns to shareholders of 256% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥64.40 per share. New Risk • Sep 03
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 23% 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 Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Reported Earnings • Sep 01
Second quarter 2025 earnings released: EPS: CN¥0.33 (vs CN¥0.40 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.33 (down from CN¥0.40 in 2Q 2024). Revenue: CN¥3.75b (up 20% from 2Q 2024). Net income: CN¥324.7m (down 4.1% from 2Q 2024). Profit margin: 8.7% (down from 11% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 28
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥65.23, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 32x in the Electronic industry in China. Total returns to shareholders of 220% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥43.37 per share. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥56.98, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 28x in the Electronic industry in China. Total returns to shareholders of 183% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥43.35 per share. Buy Or Sell Opportunity • Jul 17
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 90% to CN¥53.20. The fair value is estimated to be CN¥43.32, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has grown by 7.1%. Revenue is forecast to grow by 38% in 2 years. Earnings are forecast to grow by 63% in the next 2 years. Annuncio • Jun 30
Shenzhen Kinwong Electronic Co., Ltd. to Report First Half, 2025 Results on Aug 30, 2025 Shenzhen Kinwong Electronic Co., Ltd. announced that they will report first half, 2025 results on Aug 30, 2025 Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥38.04, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 26x in the Electronic industry in China. Total returns to shareholders of 76% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥39.80 per share. Buy Or Sell Opportunity • Jun 17
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to CN¥31.05. The fair value is estimated to be CN¥39.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has grown by 7.1%. Revenue is forecast to grow by 38% in 2 years. Earnings are forecast to grow by 63% in the next 2 years. Declared Dividend • Jun 06
Dividend increased to CN¥0.80 Dividend of CN¥0.80 is 60% higher than last year. Ex-date: 11th June 2025 Payment date: 11th June 2025 Dividend yield will be 2.3%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (59% earnings payout ratio) but not covered by cash flows (197% cash payout ratio). The dividend has increased by an average of 19% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 81% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • May 13
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). 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 (9.0% average weekly change). Annuncio • Apr 29
Shenzhen Kinwong Electronic Co., Ltd., Annual General Meeting, May 20, 2025 Shenzhen Kinwong Electronic Co., Ltd., Annual General Meeting, May 20, 2025, at 14:00 China Standard Time. 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¥28.18, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 23x in the Electronic industry in China. Total returns to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥27.45 per share. Annuncio • Mar 28
Shenzhen Kinwong Electronic Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Shenzhen Kinwong Electronic Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥34.21, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 28x in the Electronic industry in China. Total returns to shareholders of 52% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥26.58 per share. Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥38.78, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 29x in the Electronic industry in China. Total returns to shareholders of 30% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥26.50 per share. New Risk • Feb 17
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 8.4% 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 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 (8.4% average weekly change). Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥34.95, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 27x in the Electronic industry in China. Total returns to shareholders of 8.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥27.97 per share. Buy Or Sell Opportunity • Jan 20
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to CN¥34.95. The fair value is estimated to be CN¥27.97, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years. Earnings per share has grown by 6.7%. Revenue is forecast to grow by 34% in 2 years. Earnings are forecast to grow by 56% in the next 2 years. Annuncio • Dec 27
Shenzhen Kinwong Electronic Co., Ltd. to Report Fiscal Year 2024 Results on Apr 29, 2025 Shenzhen Kinwong Electronic Co., Ltd. announced that they will report fiscal year 2024 results on Apr 29, 2025 Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: CN¥0.28 (vs CN¥0.35 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.28 (down from CN¥0.35 in 3Q 2023). Revenue: CN¥3.21b (up 15% from 3Q 2023). Net income: CN¥247.9m (down 16% from 3Q 2023). Profit margin: 7.7% (down from 11% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 3% per year. Annuncio • Sep 30
Shenzhen Kinwong Electronic Co., Ltd. to Report Q3, 2024 Results on Oct 26, 2024 Shenzhen Kinwong Electronic Co., Ltd. announced that they will report Q3, 2024 results on Oct 26, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to CN¥28.85, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 21x in the Electronic industry in China. Total returns to shareholders of 25% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥46.88 per share. Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: CN¥0.40 (vs CN¥0.23 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.40 (up from CN¥0.23 in 2Q 2023). Revenue: CN¥3.12b (up 19% from 2Q 2023). Net income: CN¥338.6m (up 76% from 2Q 2023). Profit margin: 11% (up from 7.3% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic 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 remained flat, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥26.91, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 22x in the Electronic industry in China. Total loss to shareholders of 1.8% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥43.86 per share. New Risk • Jul 13
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.2% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (3.2% increase in shares outstanding). Annuncio • Jun 28
Shenzhen Kinwong Electronic Co., Ltd. to Report First Half, 2024 Results on Aug 31, 2024 Shenzhen Kinwong Electronic Co., Ltd. announced that they will report first half, 2024 results on Aug 31, 2024 Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥30.51, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 22x in the Electronic industry in China. Total returns to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥41.66 per share. Declared Dividend • Jun 01
Dividend of CN¥0.50 announced Shareholders will receive a dividend of CN¥0.50. Ex-date: 6th June 2024 Payment date: 6th June 2024 Dividend yield will be 2.0%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (40% earnings payout ratio) and cash flows (81% cash payout ratio). The dividend has increased by an average of 14% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 69% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annuncio • Apr 29
Shenzhen Kinwong Electronic Co., Ltd., Annual General Meeting, May 20, 2024 Shenzhen Kinwong Electronic Co., Ltd., Annual General Meeting, May 20, 2024, at 14:30 China Standard Time. Location: 12F, No. 158, Guangyuan 3rd Road, Dongkeng Community, Fenghuang Subdistrict, Guangming District, Shenzhen, Guangdong China Reported Earnings • Apr 28
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥1.11 (down from CN¥1.27 in FY 2022). Revenue: CN¥10.8b (up 2.3% from FY 2022). Net income: CN¥936.3m (down 12% from FY 2022). Profit margin: 8.7% (down from 10% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.1%. Earnings per share (EPS) also missed analyst estimates by 19%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Annuncio • Mar 29
Shenzhen Kinwong Electronic Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Shenzhen Kinwong Electronic Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥19.15, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 18x in the Electronic industry in China. Total loss to shareholders of 22% over the past three years. Annuncio • Dec 30
Shenzhen Kinwong Electronic Co., Ltd. to Report Fiscal Year 2023 Results on Apr 27, 2024 Shenzhen Kinwong Electronic Co., Ltd. announced that they will report fiscal year 2023 results on Apr 27, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.35 (vs CN¥0.34 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.35 (up from CN¥0.34 in 3Q 2022). Revenue: CN¥2.79b (up 7.8% from 3Q 2022). Net income: CN¥296.4m (up 5.3% from 3Q 2022). Profit margin: 11% (in line with 3Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 23
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥19.22, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 20x in the Electronic industry in China. Total loss to shareholders of 39% over the past three years. Reported Earnings • Aug 25
Second quarter 2023 earnings released: EPS: CN¥0.23 (vs CN¥0.34 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.23 (down from CN¥0.34 in 2Q 2022). Revenue: CN¥2.62b (down 5.0% from 2Q 2022). Net income: CN¥192.4m (down 34% from 2Q 2022). Profit margin: 7.3% (down from 11% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. New Risk • Jul 11
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 6.8% 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 Dividend is not well covered by cash flows (147% cash payout ratio). Share price has been volatile over the past 3 months (6.8% average weekly change). Valuation Update With 7 Day Price Move • May 31
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥25.86, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 24x in the Electronic industry in China. Total loss to shareholders of 20% over the past three years. Valuation Update With 7 Day Price Move • Apr 27
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥22.78, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 22x in the Electronic industry in China. Total loss to shareholders of 34% over the past three years. Reported Earnings • Apr 24
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥1.27 (up from CN¥1.11 in FY 2021). Revenue: CN¥10.5b (up 10% from FY 2021). Net income: CN¥1.07b (up 14% from FY 2021). Profit margin: 10% (in line with FY 2021). Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) also missed analyst estimates by 2.8%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 04
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥1.26 (up from CN¥1.11 in FY 2021). Revenue: CN¥10.5b (up 10% from FY 2021). Net income: CN¥1.06b (up 13% from FY 2021). Profit margin: 10% (in line with FY 2021). Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) also missed analyst estimates by 3.6%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. 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. 11 experienced directors. 1 highly experienced director. 3 independent directors (6 non-independent directors). Marketing Director and Director Yi Ming Lai was the last director to join the board, commencing their role in 2002. 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 30
Third quarter 2022 earnings released: EPS: CN¥0.34 (vs CN¥0.29 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.34 (up from CN¥0.29 in 3Q 2021). Revenue: CN¥2.59b (up 6.9% from 3Q 2021). Net income: CN¥281.4m (up 14% from 3Q 2021). Profit margin: 11% (in line with 3Q 2021). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic 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 13% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 08
Second quarter 2022 earnings released: EPS: CN¥0.34 (vs CN¥0.25 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.34 (up from CN¥0.25 in 2Q 2021). Revenue: CN¥2.76b (up 22% from 2Q 2021). Net income: CN¥289.8m (up 39% from 2Q 2021). Profit margin: 11% (up from 9.2% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 20%, compared to a 26% 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 8% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥26.01, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 21x in the Electronic industry in China. Total loss to shareholders of 1.3% over the past three years. Reported Earnings • May 02
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: CN¥0.21 (down from CN¥0.30 in 1Q 2021). Revenue: CN¥2.37b (up 14% from 1Q 2021). Net income: CN¥175.6m (down 31% from 1Q 2021). Profit margin: 7.4% (down from 12% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) missed analyst estimates by 4.3%. Over the next year, revenue is forecast to grow 16%, compared to a 25% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Board Change • Apr 27
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. 11 experienced directors. 1 highly experienced director. 3 independent directors (6 non-independent directors). Marketing Director and Director Yi Ming Lai was the last director to join the board, commencing their role in 2002. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥34.60, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 31x in the Electronic industry in China. Total returns to shareholders of 40% over the past three years. Reported Earnings • Nov 01
Third quarter 2021 earnings released: EPS CN¥0.29 (vs CN¥0.25 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: CN¥2.42b (up 36% from 3Q 2020). Net income: CN¥246.6m (up 19% from 3Q 2020). Profit margin: 10% (down from 12% 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 4% per year whereas the company’s share price has increased by 3% per year. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS CN¥0.25 (vs CN¥0.31 in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥2.27b (up 33% from 2Q 2020). Net income: CN¥208.1m (down 19% from 2Q 2020). Profit margin: 9.2% (down from 15% 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 5% per year whereas the company’s share price has increased by 1% per year. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥28.00, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 29x in the Electronic industry in China. Negligible returns to shareholders over past three years. Upcoming Dividend • May 05
Upcoming dividend of CN¥0.30 per share Eligible shareholders must have bought the stock before 12 May 2021. Payment date: 12 May 2021. Trailing yield: 0.8%. Lower than top quartile of Chinese dividend payers (1.9%). In line with average of industry peers (0.9%). Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS CN¥0.30 (vs CN¥0.26 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: CN¥2.07b (up 44% from 1Q 2020). Net income: CN¥254.4m (up 15% from 1Q 2020). Profit margin: 12% (down from 15% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 5% per year. Reported Earnings • Apr 01
Full year 2020 earnings released: EPS CN¥1.10 (vs CN¥1.01 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: CN¥7.06b (up 12% from FY 2019). Net income: CN¥921.0m (up 10.0% from FY 2019). Profit margin: 13% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 10
New 90-day low: CN¥25.64 The company is down 19% from its price of CN¥31.51 on 12 November 2020. The Chinese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥9.27 per share. Is New 90 Day High Low • Jan 26
New 90-day low: CN¥26.93 The company is down 19% from its price of CN¥33.40 on 28 October 2020. The Chinese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥9.37 per share. Is New 90 Day High Low • Dec 09
New 90-day low: CN¥30.12 The company is down 10.0% from its price of CN¥33.31 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 Electronic industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥7.92 per share. Is New 90 Day High Low • Nov 02
New 90-day low: CN¥31.20 The company is down 12% from its price of CN¥35.46 on 04 August 2020. The Chinese market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥8.21 per share. Reported Earnings • Nov 01
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥890.8m, up 11% from the prior year. Total revenue was CN¥6.72b over the last 12 months, up 14% from the prior year. Annuncio • Oct 29
Shenzhen Kinwong Electronic Co., Ltd. to Report Q3, 2020 Results on Oct 31, 2020 Shenzhen Kinwong Electronic Co., Ltd. announced that they will report Q3, 2020 results on Oct 31, 2020 Is New 90 Day High Low • Sep 24
New 90-day low: CN¥33.27 The company is down 4.0% from its price of CN¥34.50 on 24 June 2020. The Chinese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥4.85 per share. Annuncio • Jul 17
Shenzhen Kinwong Electronic Co., Ltd. to Report First Half, 2020 Results on Aug 29, 2020 Shenzhen Kinwong Electronic Co., Ltd. announced that they will report first half, 2020 results on Aug 29, 2020