New Risk • May 21
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -CN¥159m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Negative equity (-CN¥776m). Earnings have declined by 69% per year over the past 5 years. Minor Risk Less than 1 year of cash runway based on current free cash flow (-CN¥159m). Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Lirong Meng was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. お知らせ • Apr 30
Piesat Information Technology Co., Ltd., Annual General Meeting, May 20, 2026 Piesat Information Technology Co., Ltd., Annual General Meeting, May 20, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Beijing China お知らせ • Mar 30
Piesat Information Technology Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Piesat Information Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 お知らせ • Dec 26
Piesat Information Technology Co., Ltd. to Report Fiscal Year 2025 Results on Apr 30, 2026 Piesat Information Technology Co., Ltd. announced that they will report fiscal year 2025 results on Apr 30, 2026 お知らせ • Sep 30
Piesat Information Technology Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Piesat Information Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 お知らせ • Jun 30
Piesat Information Technology Co., Ltd. to Report First Half, 2025 Results on Aug 30, 2025 Piesat Information Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 30, 2025 お知らせ • Apr 29
Piesat Information Technology Co., Ltd., Annual General Meeting, May 20, 2025 Piesat Information Technology Co., Ltd., Annual General Meeting, May 20, 2025, at 14:30 China Standard Time. お知らせ • Mar 28
Piesat Information Technology Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Piesat Information Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 お知らせ • Dec 27
Piesat Information Technology Co., Ltd. to Report Fiscal Year 2024 Results on Apr 29, 2025 Piesat Information Technology Co., Ltd. announced that they will report fiscal year 2024 results on Apr 29, 2025 Reported Earnings • Oct 26
Third quarter 2024 earnings released: CN¥0.14 loss per share (vs CN¥0.24 loss in 3Q 2023) Third quarter 2024 results: CN¥0.14 loss per share (improved from CN¥0.24 loss in 3Q 2023). Revenue: CN¥501.9m (down 11% from 3Q 2023). Net loss: CN¥37.1m (loss narrowed 28% from 3Q 2023). Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software industry in China. お知らせ • Sep 30
Piesat Information Technology Co., Ltd. to Report Q3, 2024 Results on Oct 26, 2024 Piesat Information Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 26, 2024 Reported Earnings • Aug 31
Second quarter 2024 earnings released: CN¥0.13 loss per share (vs CN¥0.35 profit in 2Q 2023) Second quarter 2024 results: CN¥0.13 loss per share (down from CN¥0.35 profit in 2Q 2023). Revenue: CN¥621.5m (down 17% from 2Q 2023). Net loss: CN¥34.0m (down 134% from profit in 2Q 2023). Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software industry in China. お知らせ • Jun 28
Piesat Information Technology Co., Ltd. to Report First Half, 2024 Results on Aug 31, 2024 Piesat Information Technology Co., Ltd. announced that they will report first half, 2024 results on Aug 31, 2024 Reported Earnings • Apr 26
First quarter 2024 earnings released: CN¥0.58 loss per share (vs CN¥0.34 loss in 1Q 2023) First quarter 2024 results: CN¥0.58 loss per share (further deteriorated from CN¥0.34 loss in 1Q 2023). Revenue: CN¥221.4m (down 20% from 1Q 2023). Net loss: CN¥150.7m (loss widened 69% from 1Q 2023). Revenue is forecast to grow 44% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Software industry in China. Reported Earnings • Apr 14
Full year 2023 earnings released: CN¥1.63 loss per share (vs CN¥1.02 profit in FY 2022) Full year 2023 results: CN¥1.63 loss per share (down from CN¥1.02 profit in FY 2022). Revenue: CN¥1.82b (down 26% from FY 2022). Net loss: CN¥374.2m (down 242% from profit in FY 2022). Revenue is forecast to grow 40% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Software industry in China. お知らせ • Apr 12
Piesat Information Technology Co., Ltd., Annual General Meeting, May 08, 2024 Piesat Information Technology Co., Ltd., Annual General Meeting, May 08, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Beijing China お知らせ • Mar 29
Piesat Information Technology Co., Ltd. to Report Q1, 2024 Results on Apr 26, 2024 Piesat Information Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 New Risk • Mar 28
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (12% average weekly change). Reported Earnings • Feb 29
Full year 2023 earnings released: CN¥1.60 loss per share (vs CN¥1.02 profit in FY 2022) Full year 2023 results: CN¥1.60 loss per share (down from CN¥1.02 profit in FY 2022). Revenue: CN¥1.84b (down 25% from FY 2022). Net loss: CN¥366.7m (down 239% from profit in FY 2022). Revenue is forecast to grow 48% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥22.17, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 28x in the Software industry in China. Total loss to shareholders of 20% over the past three years. お知らせ • Dec 29
Piesat Information Technology Co., Ltd. to Report Fiscal Year 2023 Results on Apr 12, 2024 Piesat Information Technology Co., Ltd. announced that they will report fiscal year 2023 results on Apr 12, 2024 Buying Opportunity • Nov 16
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 20%. The fair value is estimated to be CN¥64.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 43% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 99% in 2 years. Earnings is forecast to grow by 346% in the next 2 years. New Risk • Nov 01
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: 5.3% Last year net profit margin: 11% 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 Interest payments are not well covered by earnings (2.4x net interest cover). High level of non-cash earnings (33% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Profit margins are more than 30% lower than last year (5.3% net profit margin). Buying Opportunity • Oct 12
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 30%. The fair value is estimated to be CN¥59.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 47% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 109% in 2 years. Earnings is forecast to grow by 160% in the next 2 years. Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: CN¥0.35 (vs CN¥0.26 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.35 (up from CN¥0.26 in 2Q 2022). Revenue: CN¥748.7m (up 28% from 2Q 2022). Net income: CN¥99.9m (up 72% from 2Q 2022). Profit margin: 13% (up from 9.9% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥65.64, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 50x in the Software 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¥43.79 per share. お知らせ • Jun 01
Piesat Information Technology Co., Ltd. (SHSE:688066) announces an Equity Buyback for CNY 100 million worth of its shares. Piesat Information Technology Co., Ltd. (SHSE:688066) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of shares. The program will be valid till 12 months. Valuation Update With 7 Day Price Move • May 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥83.34, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 41x in the Software industry in China. Total returns to shareholders of 72% over the past three years. Reported Earnings • Apr 23
Full year 2022 earnings released: EPS: CN¥1.43 (vs CN¥1.15 in FY 2021) Full year 2022 results: EPS: CN¥1.43 (up from CN¥1.15 in FY 2021). Revenue: CN¥2.46b (up 67% from FY 2021). Net income: CN¥264.1m (up 32% from FY 2021). Profit margin: 11% (down from 14% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 25% per year. Reported Earnings • Feb 25
Full year 2022 earnings released: EPS: CN¥1.45 (vs CN¥1.15 in FY 2021) Full year 2022 results: EPS: CN¥1.45 (up from CN¥1.15 in FY 2021). Revenue: CN¥2.48b (up 69% from FY 2021). Net income: CN¥268.6m (up 34% from FY 2021). Profit margin: 11% (down from 14% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 27% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 25% per year. Board Change • Dec 14
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Yongyi Ma was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.