View Future GrowthBeijing Bayi Space LCD TechnologyLtd 過去の業績過去 基準チェック /16Beijing Bayice LCD TechnologyLtdの収益は年間平均-25.5%の割合で減少していますが、 Electronic業界の収益は年間 増加しています。収益は年間0.3% 1.4%割合で 減少しています。 Beijing Bayice LCD TechnologyLtdの自己資本利益率は3.7%であり、純利益率は9.1%です。主要情報-25.49%収益成長率-25.06%EPS成長率Electronic 業界の成長10.93%収益成長率-1.43%株主資本利益率3.72%ネット・マージン9.10%次回の業績アップデート15 Aug 2026最近の業績更新お知らせ • Jun 30Beijing Bayi Space LCD Technology Co.,Ltd. to Report First Half, 2026 Results on Aug 15, 2026Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report first half, 2026 results on Aug 15, 2026Reported Earnings • Apr 20First quarter 2026 earnings released: EPS: CN¥0.19 (vs CN¥0.18 in 1Q 2025)First quarter 2026 results: EPS: CN¥0.19 (up from CN¥0.18 in 1Q 2025). Revenue: CN¥244.8m (up 14% from 1Q 2025). Net income: CN¥24.7m (up 2.9% from 1Q 2025). Profit margin: 10% (down from 11% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.お知らせ • Mar 30Beijing Bayi Space LCD Technology Co.,Ltd. to Report Q1, 2026 Results on Apr 18, 2026Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report Q1, 2026 results on Apr 18, 2026Reported Earnings • Mar 05Full year 2025 earnings released: EPS: CN¥0.60 (vs CN¥0.57 in FY 2024)Full year 2025 results: EPS: CN¥0.60 (up from CN¥0.57 in FY 2024). Revenue: CN¥871.1m (up 18% from FY 2024). Net income: CN¥78.3m (up 2.2% from FY 2024). Profit margin: 9.0% (down from 10% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.お知らせ • Dec 26Beijing Bayi Space LCD Technology Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 18, 2026Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 18, 2026お知らせ • Sep 30Beijing Bayi Space LCD Technology Co.,Ltd. to Report Q3, 2025 Results on Oct 29, 2025Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025すべての更新を表示Recent updatesValuation Update With 7 Day Price Move • Jul 16Investor sentiment deteriorates as stock falls 24%After last week's 24% share price decline to CN¥42.63, the stock trades at a trailing P/E ratio of 67.6x. Average forward P/E is 37x in the Electronic industry in China. Total returns to shareholders of 61% over the past three years.お知らせ • Jun 30Beijing Bayi Space LCD Technology Co.,Ltd. to Report First Half, 2026 Results on Aug 15, 2026Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report first half, 2026 results on Aug 15, 2026New Risk • Jun 01New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.5% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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: Major Risk Earnings have declined by 25% per year over the past 5 years. 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). Large one-off items impacting financial results.New Risk • May 29New minor risk - Share price stabilityThe 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 Earnings have declined by 25% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Large one-off items impacting financial results.Valuation Update With 7 Day Price Move • May 28Investor sentiment improves as stock rises 24%After last week's 24% share price gain to CN¥48.65, the stock trades at a trailing P/E ratio of 77.2x. Average forward P/E is 40x in the Electronic industry in China. Total returns to shareholders of 93% over the past three years.New Risk • Apr 26New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 87% 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 25% per year over the past 5 years. Minor Risk Large one-off items impacting financial results.Reported Earnings • Apr 20First quarter 2026 earnings released: EPS: CN¥0.19 (vs CN¥0.18 in 1Q 2025)First quarter 2026 results: EPS: CN¥0.19 (up from CN¥0.18 in 1Q 2025). Revenue: CN¥244.8m (up 14% from 1Q 2025). Net income: CN¥24.7m (up 2.9% from 1Q 2025). Profit margin: 10% (down from 11% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.お知らせ • Apr 20Beijing Bayi Space LCD Technology Co.,Ltd., Annual General Meeting, May 08, 2026Beijing Bayi Space LCD Technology Co.,Ltd., Annual General Meeting, May 08, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Beijing Chinaお知らせ • Mar 30Beijing Bayi Space LCD Technology Co.,Ltd. to Report Q1, 2026 Results on Apr 18, 2026Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report Q1, 2026 results on Apr 18, 2026Reported Earnings • Mar 05Full year 2025 earnings released: EPS: CN¥0.60 (vs CN¥0.57 in FY 2024)Full year 2025 results: EPS: CN¥0.60 (up from CN¥0.57 in FY 2024). Revenue: CN¥871.1m (up 18% from FY 2024). Net income: CN¥78.3m (up 2.2% from FY 2024). Profit margin: 9.0% (down from 10% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.New Risk • Jan 06New major risk - Revenue and earnings growthEarnings have declined by 21% 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. This is currently the only risk that has been identified for the company.お知らせ • Dec 26Beijing Bayi Space LCD Technology Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 18, 2026Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 18, 2026Board Change • Dec 12Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 4 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Yanjun Cui was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.New Risk • Oct 14New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 7.4% 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 Share price has been volatile over the past 3 months (7.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.4% net profit margin).お知らせ • Sep 30Beijing Bayi Space LCD Technology Co.,Ltd. to Report Q3, 2025 Results on Oct 29, 2025Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025Reported Earnings • Aug 20Second quarter 2025 earnings released: EPS: CN¥0.051 (vs CN¥0.23 in 2Q 2024)Second quarter 2025 results: EPS: CN¥0.051 (down from CN¥0.23 in 2Q 2024). Revenue: CN¥201.2m (up 2.7% from 2Q 2024). Net income: CN¥6.83m (down 78% from 2Q 2024). Profit margin: 3.4% (down from 16% in 2Q 2024). Revenue is forecast to grow 23% 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 fallen by 43% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Aug 15Investor sentiment improves as stock rises 15%After last week's 15% share price gain to CN¥37.11, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 30x in the Electronic industry in China. Total returns to shareholders of 9.2% over the past three years.お知らせ • May 17Beijing Bayi Space LCD Technology Co.,Ltd. (SHSE:688181) announces an Equity Buyback for CNY 100 million worth of its shares.Beijing Bayi Space LCD Technology Co.,Ltd. (SHSE:688181) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its shares. The shares will be purchased at a price not exceeding CNY 40 per share. The repurchased shares will be used for ESOP or equity incentives, otherwise will be cancelled if the company fails to transfer them within the time limit stipulated by relevant laws and regulations. The program will be funded from company's own funds and the special stock repurchase loan provided by Shanghai Pudong Development Bank Co., Ltd. Beijing Branch. The program will be valid for 12 months.Reported Earnings • Apr 28First quarter 2025 earnings released: EPS: CN¥0.18 (vs CN¥0.14 in 1Q 2024)First quarter 2025 results: EPS: CN¥0.18 (up from CN¥0.14 in 1Q 2024). Revenue: CN¥214.2m (up 19% from 1Q 2024). Net income: CN¥24.0m (up 25% from 1Q 2024). Profit margin: 11% (in line with 1Q 2024). Revenue is forecast to grow 30% 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 fallen by 40% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.お知らせ • Apr 26Beijing Bayi Space LCD Technology Co.,Ltd., Annual General Meeting, May 16, 2025Beijing Bayi Space LCD Technology Co.,Ltd., Annual General Meeting, May 16, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Beijing ChinaNew Risk • Apr 07New minor risk - Share price stabilityThe 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 7.1% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (8.3% average weekly change).Valuation Update With 7 Day Price Move • Apr 07Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to CN¥22.76, the stock trades at a trailing P/E ratio of 38.2x. Average forward P/E is 27x in the Electronic industry in China. Total loss to shareholders of 19% over the past three years.お知らせ • Mar 28Beijing Bayi Space LCD Technology Co.,Ltd. to Report Q1, 2025 Results on Apr 26, 2025Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025分析記事 • Mar 25Does Beijing Bayi Space LCD TechnologyLtd (SHSE:688181) Have A Healthy Balance Sheet?The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Reported Earnings • Feb 27Full year 2024 earnings released: EPS: CN¥0.59 (vs CN¥0.80 in FY 2023)Full year 2024 results: EPS: CN¥0.59 (down from CN¥0.80 in FY 2023). Revenue: CN¥748.1m (down 6.4% from FY 2023). Net income: CN¥79.3m (down 26% from FY 2023). Profit margin: 11% (down from 13% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 28% 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 fallen by 37% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.分析記事 • Feb 24Unpleasant Surprises Could Be In Store For Beijing Bayi Space LCD Technology Co.,Ltd.'s (SHSE:688181) SharesWith a price-to-earnings (or "P/E") ratio of 62.3x Beijing Bayi Space LCD Technology Co.,Ltd. ( SHSE:688181 ) may be...New Risk • Feb 05New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 11% 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 Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 2.5% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (10% net profit margin).お知らせ • Dec 27Beijing Bayi Space LCD Technology Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 26, 2025Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 26, 2025お知らせ • Dec 10Beijing Bayi Space LCD Technology Co.,Ltd. (SHSE:688181) announces an Equity Buyback for CNY 100 million worth of its shares.Beijing Bayi Space LCD Technology Co.,Ltd. (SHSE:688181) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its shares. The shares will be purchased at a price not exceeding CNY 41 per share. The purpose of the program is to improve the company's long-term incentive mechanism, fully mobilize the enthusiasm of the employees, and jointly promote the company's long-term development. The repurchased shares will be used for employee stock ownership plans or equity incentive plans, otherwise will be cancelled if the company fails to transfer them within the time limit stipulated by relevant laws and regulations. The program will be funded from company's own funds and the special stock repurchase loan provided by CITIC Bank Beijing Branch. The program will be valid for 12 months.分析記事 • Dec 03Is Beijing Bayi Space LCD TechnologyLtd (SHSE:688181) A Risky Investment?David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Valuation Update With 7 Day Price Move • Nov 29Investor sentiment improves as stock rises 18%After last week's 18% share price gain to CN¥33.43, the stock trades at a trailing P/E ratio of 61x. Average forward P/E is 24x in the Electronic industry in China. Total loss to shareholders of 4.6% over the past three years.New Risk • Nov 27New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 12% 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 3.9% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Profit margins are more than 30% lower than last year (10% net profit margin).分析記事 • Nov 11Beijing Bayi Space LCD Technology Co.,Ltd.'s (SHSE:688181) 56% Share Price Surge Not Quite Adding UpBeijing Bayi Space LCD Technology Co.,Ltd. ( SHSE:688181 ) shares have continued their recent momentum with a 56% gain...Valuation Update With 7 Day Price Move • Nov 08Investor sentiment improves as stock rises 20%After last week's 20% share price gain to CN¥26.58, the stock trades at a trailing P/E ratio of 48.5x. Average forward P/E is 25x in the Electronic industry in China. Total loss to shareholders of 23% over the past three years.Reported Earnings • Oct 30Third quarter 2024 earnings released: EPS: CN¥0.089 (vs CN¥0.32 in 3Q 2023)Third quarter 2024 results: EPS: CN¥0.089 (down from CN¥0.32 in 3Q 2023). Revenue: CN¥173.0m (down 21% from 3Q 2023). Net income: CN¥11.9m (down 72% from 3Q 2023). Profit margin: 6.9% (down from 19% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 29% 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 fallen by 32% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.New Risk • Oct 26New major risk - Revenue and earnings growthEarnings have declined by 3.9% 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 3.9% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (10% net profit margin).分析記事 • Oct 24Beijing Bayi Space LCD TechnologyLtd (SHSE:688181) May Have Issues Allocating Its CapitalIf we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Ideally, a...Valuation Update With 7 Day Price Move • Oct 15Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to CN¥19.00, the stock trades at a trailing P/E ratio of 24.6x. Average forward P/E is 23x in the Electronic industry in China. Total loss to shareholders of 40% over the past three years.お知らせ • Sep 30Beijing Bayi Space LCD Technology Co.,Ltd. to Report Q3, 2024 Results on Oct 26, 2024Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report Q3, 2024 results on Oct 26, 2024Valuation Update With 7 Day Price Move • Sep 30Investor sentiment improves as stock rises 26%After last week's 26% share price gain to CN¥19.77, the stock trades at a trailing P/E ratio of 25.6x. Average forward P/E is 21x in the Electronic industry in China. Total loss to shareholders of 40% over the past three years.分析記事 • Sep 27Beijing Bayi Space LCD Technology Co.,Ltd.'s (SHSE:688181) Low P/E No Reason For ExcitementWith a price-to-earnings (or "P/E") ratio of 22.7x Beijing Bayi Space LCD Technology Co.,Ltd. ( SHSE:688181 ) may be...Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: CN¥0.23 (vs CN¥0.27 in 2Q 2023)Second quarter 2024 results: EPS: CN¥0.23 (down from CN¥0.27 in 2Q 2023). Revenue: CN¥195.8m (down 9.5% from 2Q 2023). Net income: CN¥30.5m (down 13% from 2Q 2023). Profit margin: 16% (in line with 2Q 2023). Revenue is forecast to grow 25% 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 fallen by 25% per year whereas the company’s share price has fallen by 23% per year.お知らせ • Jun 28Beijing Bayi Space LCD Technology Co.,Ltd. to Report First Half, 2024 Results on Aug 17, 2024Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report first half, 2024 results on Aug 17, 2024Valuation Update With 7 Day Price Move • Jun 13Investor sentiment improves as stock rises 17%After last week's 17% share price gain to CN¥19.29, the stock trades at a trailing P/E ratio of 23.9x. Average forward P/E is 22x in the Electronic industry in China. Total loss to shareholders of 49% over the past three years.分析記事 • May 03Beijing Bayi Space LCD TechnologyLtd's (SHSE:688181) Sluggish Earnings Might Be Just The Beginning Of Its ProblemsBeijing Bayi Space LCD Technology Co.,Ltd.'s ( SHSE:688181 ) stock showed strength, with investors undeterred by its...お知らせ • Apr 29Beijing Bayi Space LCD Technology Co.,Ltd., Annual General Meeting, May 17, 2024Beijing Bayi Space LCD Technology Co.,Ltd., Annual General Meeting, May 17, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Beijing ChinaReported Earnings • Apr 28First quarter 2024 earnings released: EPS: CN¥0.14 (vs CN¥0.14 in 1Q 2023)First quarter 2024 results: EPS: CN¥0.14 (up from CN¥0.14 in 1Q 2023). Revenue: CN¥179.7m (down 6.1% from 1Q 2023). Net income: CN¥19.2m (up 3.9% from 1Q 2023). Profit margin: 11% (up from 9.7% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 36% 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 fallen by 19% per year whereas the company’s share price has fallen by 21% per year.分析記事 • Apr 03Returns On Capital Signal Tricky Times Ahead For Beijing Bayi Space LCD TechnologyLtd (SHSE:688181)If you're looking for a multi-bagger, there's a few things to keep an eye out for. Amongst other things, we'll want to...お知らせ • Mar 30Beijing Bayi Space LCD Technology Co.,Ltd. to Report Q1, 2024 Results on Apr 27, 2024Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024分析記事 • Mar 06Beijing Bayi Space LCD Technology Co.,Ltd.'s (SHSE:688181) Shares Bounce 26% But Its Business Still Trails The MarketThose holding Beijing Bayi Space LCD Technology Co.,Ltd. ( SHSE:688181 ) shares would be relieved that the share price...Reported Earnings • Feb 27Full year 2023 earnings released: EPS: CN¥0.81 (vs CN¥1.53 in FY 2022)Full year 2023 results: EPS: CN¥0.81 (down from CN¥1.53 in FY 2022). Revenue: CN¥799.5m (down 14% from FY 2022). Net income: CN¥107.9m (down 47% from FY 2022). Profit margin: 14% (down from 22% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 32% 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 fallen by 12% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings.Valuation Update With 7 Day Price Move • Feb 01Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to CN¥18.75, the stock trades at a trailing P/E ratio of 20x. Average forward P/E is 17x in the Electronic industry in China. Total loss to shareholders of 44% over the past three years.Reported Earnings • Nov 01Third quarter 2023 earnings released: EPS: CN¥0.32 (vs CN¥0.35 in 3Q 2022)Third quarter 2023 results: EPS: CN¥0.32 (down from CN¥0.35 in 3Q 2022). Revenue: CN¥218.2m (up 5.7% from 3Q 2022). Net income: CN¥41.9m (down 11% from 3Q 2022). Profit margin: 19% (down from 23% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 29% 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 fallen by 5% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings.New Risk • Aug 09New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 16% Last year net profit margin: 24% 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 Risk High level of non-cash earnings (52% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (16% net profit margin).Reported Earnings • Aug 08Second quarter 2023 earnings released: EPS: CN¥0.27 (vs CN¥0.49 in 2Q 2022)Second quarter 2023 results: EPS: CN¥0.27 (down from CN¥0.49 in 2Q 2022). Revenue: CN¥216.2m (down 17% from 2Q 2022). Net income: CN¥35.2m (down 46% from 2Q 2022). Profit margin: 16% (down from 25% in 2Q 2022). Revenue is forecast to grow 24% 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 2% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings.お知らせ • Jun 28Beijing Bayi Space LCD Technology Co., Ltd. to Report First Half, 2023 Results on Aug 08, 2023Beijing Bayi Space LCD Technology Co., Ltd. announced that they will report first half, 2023 results on Aug 08, 2023Valuation Update With 7 Day Price Move • Apr 27Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to CN¥35.77, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 37x in the Electronic industry in China. Total loss to shareholders of 27% over the past three years.Reported Earnings • Apr 21Full year 2022 earnings released: EPS: CN¥2.14 (vs CN¥2.14 in FY 2021)Full year 2022 results: EPS: CN¥2.14 (in line with FY 2021). Revenue: CN¥934.3m (up 5.4% from FY 2021). Net income: CN¥203.9m (down 1.4% from FY 2021). Profit margin: 22% (down from 23% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.Reported Earnings • Feb 25Full year 2022 earnings released: EPS: CN¥2.17 (vs CN¥2.14 in FY 2021)Full year 2022 results: EPS: CN¥2.17 (up from CN¥2.14 in FY 2021). Revenue: CN¥936.3m (up 5.6% from FY 2021). Net income: CN¥207.4m (flat on FY 2021). Profit margin: 22% (down from 23% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Jin Lu was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Oct 26Third quarter 2022 earnings released: EPS: CN¥0.49 (vs CN¥0.68 in 3Q 2021)Third quarter 2022 results: EPS: CN¥0.49 (down from CN¥0.68 in 3Q 2021). Revenue: CN¥206.4m (down 9.8% from 3Q 2021). Net income: CN¥46.8m (down 28% from 3Q 2021). Profit margin: 23% (down from 29% in 3Q 2021). The decrease in margin was driven by lower revenue.Reported Earnings • Aug 18Second quarter 2022 earnings released: EPS: CN¥0.68 (vs CN¥0.57 in 2Q 2021)Second quarter 2022 results: EPS: CN¥0.68 (up from CN¥0.57 in 2Q 2021). Revenue: CN¥261.1m (up 21% from 2Q 2021). Net income: CN¥65.0m (up 18% from 2Q 2021). Profit margin: 25% (in line with 2Q 2021).Valuation Update With 7 Day Price Move • Jun 02Investor sentiment improved over the past weekAfter last week's 16% share price gain to CN¥41.39, the stock trades at a trailing P/E ratio of 18.1x. Average trailing P/E is 33x in the Electronic industry in China. Total loss to shareholders of 22% over the past year.Reported Earnings • Apr 28First quarter 2022 earnings released: EPS: CN¥0.65 (vs CN¥0.50 in 1Q 2021)First quarter 2022 results: EPS: CN¥0.65 (up from CN¥0.50 in 1Q 2021). Revenue: CN¥258.5m (up 25% from 1Q 2021). Net income: CN¥62.7m (up 30% from 1Q 2021). Profit margin: 24% (in line with 1Q 2021).お知らせ • Mar 02Beijing Bayi Space LCD Technology Co., Ltd. (SHSE:688181) announces an Equity Buyback for CNY 100 million worth of its shares.Beijing Bayi Space LCD Technology Co., Ltd. (SHSE:688181) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its common stock. The shares will be repurchased at a purchase price of CNY 60 per share. The purpose of the program is ESOP or equity incentives. The program will be valid for 12 months.Reported Earnings • Feb 27Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: CN¥2.14 (up from CN¥1.77 in FY 2020). Revenue: CN¥886.8m (up 37% from FY 2020). Net income: CN¥206.9m (up 21% from FY 2020). Profit margin: 23% (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 28Third quarter 2021 earnings released: EPS CN¥0.68 (vs CN¥0.50 in 3Q 2020)The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: CN¥228.8m (up 39% from 3Q 2020). Net income: CN¥65.5m (up 35% from 3Q 2020). Profit margin: 29% (in line with 3Q 2020).Reported Earnings • Aug 18Second quarter 2021 earnings released: EPS CN¥0.57 (vs CN¥0.48 in 2Q 2020)The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: CN¥215.8m (up 44% from 2Q 2020). Net income: CN¥55.0m (up 20% from 2Q 2020). Profit margin: 26% (down from 31% in 2Q 2020). The decrease in margin was driven by higher expenses.Reported Earnings • Apr 25Full year 2020 earnings released: EPS CN¥1.77 (vs CN¥1.52 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¥648.7m (up 51% from FY 2019). Net income: CN¥170.5m (up 55% from FY 2019). Profit margin: 26% (in line with FY 2019).Is New 90 Day High Low • Jan 29New 90-day low: CN¥48.96The company is down 23% from its price of CN¥63.61 on 30 October 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 4.0% over the same period.Is New 90 Day High Low • Dec 28New 90-day low: CN¥51.49The company is down 23% from its price of CN¥66.70 on 29 September 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 4.0% over the same period.Is New 90 Day High Low • Dec 12New 90-day low: CN¥57.44The company is down 13% from its price of CN¥66.09 on 11 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 1.0% over the same period.Is New 90 Day High Low • Nov 25New 90-day low: CN¥61.41The company is down 11% from its price of CN¥68.87 on 27 August 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is flat over the same period.お知らせ • Jul 08Beijing Bayi Space LCD Technology Co., Ltd. to Report First Half, 2020 Results on Aug 18, 2020Beijing Bayi Space LCD Technology Co., Ltd. announced that they will report first half, 2020 results on Aug 18, 2020収支内訳Beijing Bayi Space LCD TechnologyLtd の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史SHSE:688181 収益、費用、利益 ( )CNY Millions日付収益収益G+A経費研究開発費31 Mar 26899821349631 Dec 25868811329630 Sep 258346114510230 Jun 25777581349831 Mar 25772811349031 Dec 24737771298830 Sep 24722731198130 Jun 247671031198031 Mar 247881081228031 Dec 237991071307830 Sep 238341251317930 Jun 238221301407531 Mar 238671601427131 Dec 229342041486830 Sep 229612121586830 Jun 229832311566331 Mar 229382211575831 Dec 218872071405230 Sep 218532061334530 Jun 217881891224231 Mar 217221801113831 Dec 20649170973530 Sep 20560155773330 Jun 20509137683031 Mar 20464120582831 Dec 19430110552730 Sep 19415113542330 Jun 19397107572231 Mar 19394111552031 Dec 18394114561830 Sep 18378112511630 Jun 18362110461431 Mar 1829682421431 Dec 172315347030 Sep 171883640330 Jun 171451932531 Mar 171391830301 Jan 171331728030 Sep 161181225030 Jun 16103723031 Mar 1691422031 Dec 1581122030 Sep 15736190質の高い収益: 688181にはCN¥53.4M } という大きな 一回限りの 利益があり、過去 12 か月の財務実績が31st March, 2026に影響を及ぼしています。利益率の向上: 688181の現在の純利益率 (9.1%)は、昨年(10.6%)よりも低くなっています。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: 688181の収益は過去 5 年間で年間25.5%減少しました。成長の加速: 688181の過去 1 年間の収益成長率 ( 0.4% ) は、5 年間の平均 ( 年間-25.5%を上回っています。収益対業界: 688181の過去 1 年間の収益成長率 ( 0.4% ) Electronic業界9.9%を上回りませんでした。株主資本利益率高いROE: 688181の 自己資本利益率 ( 3.7% ) は 低い とみなされます。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YTech 、過去の業績が好調な企業。View Financial Health企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/08/05 11:10終値2026/08/05 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Beijing Bayi Space LCD Technology Co.,Ltd. 1 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。2 アナリスト機関Chao LiCitic Securities Co., Ltd.Jin JiIndustrial Securities Co. Ltd.
お知らせ • Jun 30Beijing Bayi Space LCD Technology Co.,Ltd. to Report First Half, 2026 Results on Aug 15, 2026Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report first half, 2026 results on Aug 15, 2026
Reported Earnings • Apr 20First quarter 2026 earnings released: EPS: CN¥0.19 (vs CN¥0.18 in 1Q 2025)First quarter 2026 results: EPS: CN¥0.19 (up from CN¥0.18 in 1Q 2025). Revenue: CN¥244.8m (up 14% from 1Q 2025). Net income: CN¥24.7m (up 2.9% from 1Q 2025). Profit margin: 10% (down from 11% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.
お知らせ • Mar 30Beijing Bayi Space LCD Technology Co.,Ltd. to Report Q1, 2026 Results on Apr 18, 2026Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report Q1, 2026 results on Apr 18, 2026
Reported Earnings • Mar 05Full year 2025 earnings released: EPS: CN¥0.60 (vs CN¥0.57 in FY 2024)Full year 2025 results: EPS: CN¥0.60 (up from CN¥0.57 in FY 2024). Revenue: CN¥871.1m (up 18% from FY 2024). Net income: CN¥78.3m (up 2.2% from FY 2024). Profit margin: 9.0% (down from 10% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.
お知らせ • Dec 26Beijing Bayi Space LCD Technology Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 18, 2026Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 18, 2026
お知らせ • Sep 30Beijing Bayi Space LCD Technology Co.,Ltd. to Report Q3, 2025 Results on Oct 29, 2025Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025
Valuation Update With 7 Day Price Move • Jul 16Investor sentiment deteriorates as stock falls 24%After last week's 24% share price decline to CN¥42.63, the stock trades at a trailing P/E ratio of 67.6x. Average forward P/E is 37x in the Electronic industry in China. Total returns to shareholders of 61% over the past three years.
お知らせ • Jun 30Beijing Bayi Space LCD Technology Co.,Ltd. to Report First Half, 2026 Results on Aug 15, 2026Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report first half, 2026 results on Aug 15, 2026
New Risk • Jun 01New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.5% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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: Major Risk Earnings have declined by 25% per year over the past 5 years. 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). Large one-off items impacting financial results.
New Risk • May 29New minor risk - Share price stabilityThe 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 Earnings have declined by 25% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Large one-off items impacting financial results.
Valuation Update With 7 Day Price Move • May 28Investor sentiment improves as stock rises 24%After last week's 24% share price gain to CN¥48.65, the stock trades at a trailing P/E ratio of 77.2x. Average forward P/E is 40x in the Electronic industry in China. Total returns to shareholders of 93% over the past three years.
New Risk • Apr 26New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 87% 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 25% per year over the past 5 years. Minor Risk Large one-off items impacting financial results.
Reported Earnings • Apr 20First quarter 2026 earnings released: EPS: CN¥0.19 (vs CN¥0.18 in 1Q 2025)First quarter 2026 results: EPS: CN¥0.19 (up from CN¥0.18 in 1Q 2025). Revenue: CN¥244.8m (up 14% from 1Q 2025). Net income: CN¥24.7m (up 2.9% from 1Q 2025). Profit margin: 10% (down from 11% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.
お知らせ • Apr 20Beijing Bayi Space LCD Technology Co.,Ltd., Annual General Meeting, May 08, 2026Beijing Bayi Space LCD Technology Co.,Ltd., Annual General Meeting, May 08, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Beijing China
お知らせ • Mar 30Beijing Bayi Space LCD Technology Co.,Ltd. to Report Q1, 2026 Results on Apr 18, 2026Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report Q1, 2026 results on Apr 18, 2026
Reported Earnings • Mar 05Full year 2025 earnings released: EPS: CN¥0.60 (vs CN¥0.57 in FY 2024)Full year 2025 results: EPS: CN¥0.60 (up from CN¥0.57 in FY 2024). Revenue: CN¥871.1m (up 18% from FY 2024). Net income: CN¥78.3m (up 2.2% from FY 2024). Profit margin: 9.0% (down from 10% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.
New Risk • Jan 06New major risk - Revenue and earnings growthEarnings have declined by 21% 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. This is currently the only risk that has been identified for the company.
お知らせ • Dec 26Beijing Bayi Space LCD Technology Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 18, 2026Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 18, 2026
Board Change • Dec 12Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 4 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Yanjun Cui was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
New Risk • Oct 14New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 7.4% 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 Share price has been volatile over the past 3 months (7.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.4% net profit margin).
お知らせ • Sep 30Beijing Bayi Space LCD Technology Co.,Ltd. to Report Q3, 2025 Results on Oct 29, 2025Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025
Reported Earnings • Aug 20Second quarter 2025 earnings released: EPS: CN¥0.051 (vs CN¥0.23 in 2Q 2024)Second quarter 2025 results: EPS: CN¥0.051 (down from CN¥0.23 in 2Q 2024). Revenue: CN¥201.2m (up 2.7% from 2Q 2024). Net income: CN¥6.83m (down 78% from 2Q 2024). Profit margin: 3.4% (down from 16% in 2Q 2024). Revenue is forecast to grow 23% 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 fallen by 43% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Aug 15Investor sentiment improves as stock rises 15%After last week's 15% share price gain to CN¥37.11, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 30x in the Electronic industry in China. Total returns to shareholders of 9.2% over the past three years.
お知らせ • May 17Beijing Bayi Space LCD Technology Co.,Ltd. (SHSE:688181) announces an Equity Buyback for CNY 100 million worth of its shares.Beijing Bayi Space LCD Technology Co.,Ltd. (SHSE:688181) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its shares. The shares will be purchased at a price not exceeding CNY 40 per share. The repurchased shares will be used for ESOP or equity incentives, otherwise will be cancelled if the company fails to transfer them within the time limit stipulated by relevant laws and regulations. The program will be funded from company's own funds and the special stock repurchase loan provided by Shanghai Pudong Development Bank Co., Ltd. Beijing Branch. The program will be valid for 12 months.
Reported Earnings • Apr 28First quarter 2025 earnings released: EPS: CN¥0.18 (vs CN¥0.14 in 1Q 2024)First quarter 2025 results: EPS: CN¥0.18 (up from CN¥0.14 in 1Q 2024). Revenue: CN¥214.2m (up 19% from 1Q 2024). Net income: CN¥24.0m (up 25% from 1Q 2024). Profit margin: 11% (in line with 1Q 2024). Revenue is forecast to grow 30% 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 fallen by 40% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.
お知らせ • Apr 26Beijing Bayi Space LCD Technology Co.,Ltd., Annual General Meeting, May 16, 2025Beijing Bayi Space LCD Technology Co.,Ltd., Annual General Meeting, May 16, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Beijing China
New Risk • Apr 07New minor risk - Share price stabilityThe 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 7.1% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (8.3% average weekly change).
Valuation Update With 7 Day Price Move • Apr 07Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to CN¥22.76, the stock trades at a trailing P/E ratio of 38.2x. Average forward P/E is 27x in the Electronic industry in China. Total loss to shareholders of 19% over the past three years.
お知らせ • Mar 28Beijing Bayi Space LCD Technology Co.,Ltd. to Report Q1, 2025 Results on Apr 26, 2025Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025
分析記事 • Mar 25Does Beijing Bayi Space LCD TechnologyLtd (SHSE:688181) Have A Healthy Balance Sheet?The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Reported Earnings • Feb 27Full year 2024 earnings released: EPS: CN¥0.59 (vs CN¥0.80 in FY 2023)Full year 2024 results: EPS: CN¥0.59 (down from CN¥0.80 in FY 2023). Revenue: CN¥748.1m (down 6.4% from FY 2023). Net income: CN¥79.3m (down 26% from FY 2023). Profit margin: 11% (down from 13% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 28% 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 fallen by 37% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.
分析記事 • Feb 24Unpleasant Surprises Could Be In Store For Beijing Bayi Space LCD Technology Co.,Ltd.'s (SHSE:688181) SharesWith a price-to-earnings (or "P/E") ratio of 62.3x Beijing Bayi Space LCD Technology Co.,Ltd. ( SHSE:688181 ) may be...
New Risk • Feb 05New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 11% 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 Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 2.5% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (10% net profit margin).
お知らせ • Dec 27Beijing Bayi Space LCD Technology Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 26, 2025Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 26, 2025
お知らせ • Dec 10Beijing Bayi Space LCD Technology Co.,Ltd. (SHSE:688181) announces an Equity Buyback for CNY 100 million worth of its shares.Beijing Bayi Space LCD Technology Co.,Ltd. (SHSE:688181) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its shares. The shares will be purchased at a price not exceeding CNY 41 per share. The purpose of the program is to improve the company's long-term incentive mechanism, fully mobilize the enthusiasm of the employees, and jointly promote the company's long-term development. The repurchased shares will be used for employee stock ownership plans or equity incentive plans, otherwise will be cancelled if the company fails to transfer them within the time limit stipulated by relevant laws and regulations. The program will be funded from company's own funds and the special stock repurchase loan provided by CITIC Bank Beijing Branch. The program will be valid for 12 months.
分析記事 • Dec 03Is Beijing Bayi Space LCD TechnologyLtd (SHSE:688181) A Risky Investment?David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Valuation Update With 7 Day Price Move • Nov 29Investor sentiment improves as stock rises 18%After last week's 18% share price gain to CN¥33.43, the stock trades at a trailing P/E ratio of 61x. Average forward P/E is 24x in the Electronic industry in China. Total loss to shareholders of 4.6% over the past three years.
New Risk • Nov 27New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 12% 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 3.9% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Profit margins are more than 30% lower than last year (10% net profit margin).
分析記事 • Nov 11Beijing Bayi Space LCD Technology Co.,Ltd.'s (SHSE:688181) 56% Share Price Surge Not Quite Adding UpBeijing Bayi Space LCD Technology Co.,Ltd. ( SHSE:688181 ) shares have continued their recent momentum with a 56% gain...
Valuation Update With 7 Day Price Move • Nov 08Investor sentiment improves as stock rises 20%After last week's 20% share price gain to CN¥26.58, the stock trades at a trailing P/E ratio of 48.5x. Average forward P/E is 25x in the Electronic industry in China. Total loss to shareholders of 23% over the past three years.
Reported Earnings • Oct 30Third quarter 2024 earnings released: EPS: CN¥0.089 (vs CN¥0.32 in 3Q 2023)Third quarter 2024 results: EPS: CN¥0.089 (down from CN¥0.32 in 3Q 2023). Revenue: CN¥173.0m (down 21% from 3Q 2023). Net income: CN¥11.9m (down 72% from 3Q 2023). Profit margin: 6.9% (down from 19% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 29% 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 fallen by 32% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.
New Risk • Oct 26New major risk - Revenue and earnings growthEarnings have declined by 3.9% 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 3.9% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (10% net profit margin).
分析記事 • Oct 24Beijing Bayi Space LCD TechnologyLtd (SHSE:688181) May Have Issues Allocating Its CapitalIf we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Ideally, a...
Valuation Update With 7 Day Price Move • Oct 15Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to CN¥19.00, the stock trades at a trailing P/E ratio of 24.6x. Average forward P/E is 23x in the Electronic industry in China. Total loss to shareholders of 40% over the past three years.
お知らせ • Sep 30Beijing Bayi Space LCD Technology Co.,Ltd. to Report Q3, 2024 Results on Oct 26, 2024Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report Q3, 2024 results on Oct 26, 2024
Valuation Update With 7 Day Price Move • Sep 30Investor sentiment improves as stock rises 26%After last week's 26% share price gain to CN¥19.77, the stock trades at a trailing P/E ratio of 25.6x. Average forward P/E is 21x in the Electronic industry in China. Total loss to shareholders of 40% over the past three years.
分析記事 • Sep 27Beijing Bayi Space LCD Technology Co.,Ltd.'s (SHSE:688181) Low P/E No Reason For ExcitementWith a price-to-earnings (or "P/E") ratio of 22.7x Beijing Bayi Space LCD Technology Co.,Ltd. ( SHSE:688181 ) may be...
Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: CN¥0.23 (vs CN¥0.27 in 2Q 2023)Second quarter 2024 results: EPS: CN¥0.23 (down from CN¥0.27 in 2Q 2023). Revenue: CN¥195.8m (down 9.5% from 2Q 2023). Net income: CN¥30.5m (down 13% from 2Q 2023). Profit margin: 16% (in line with 2Q 2023). Revenue is forecast to grow 25% 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 fallen by 25% per year whereas the company’s share price has fallen by 23% per year.
お知らせ • Jun 28Beijing Bayi Space LCD Technology Co.,Ltd. to Report First Half, 2024 Results on Aug 17, 2024Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report first half, 2024 results on Aug 17, 2024
Valuation Update With 7 Day Price Move • Jun 13Investor sentiment improves as stock rises 17%After last week's 17% share price gain to CN¥19.29, the stock trades at a trailing P/E ratio of 23.9x. Average forward P/E is 22x in the Electronic industry in China. Total loss to shareholders of 49% over the past three years.
分析記事 • May 03Beijing Bayi Space LCD TechnologyLtd's (SHSE:688181) Sluggish Earnings Might Be Just The Beginning Of Its ProblemsBeijing Bayi Space LCD Technology Co.,Ltd.'s ( SHSE:688181 ) stock showed strength, with investors undeterred by its...
お知らせ • Apr 29Beijing Bayi Space LCD Technology Co.,Ltd., Annual General Meeting, May 17, 2024Beijing Bayi Space LCD Technology Co.,Ltd., Annual General Meeting, May 17, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Beijing China
Reported Earnings • Apr 28First quarter 2024 earnings released: EPS: CN¥0.14 (vs CN¥0.14 in 1Q 2023)First quarter 2024 results: EPS: CN¥0.14 (up from CN¥0.14 in 1Q 2023). Revenue: CN¥179.7m (down 6.1% from 1Q 2023). Net income: CN¥19.2m (up 3.9% from 1Q 2023). Profit margin: 11% (up from 9.7% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 36% 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 fallen by 19% per year whereas the company’s share price has fallen by 21% per year.
分析記事 • Apr 03Returns On Capital Signal Tricky Times Ahead For Beijing Bayi Space LCD TechnologyLtd (SHSE:688181)If you're looking for a multi-bagger, there's a few things to keep an eye out for. Amongst other things, we'll want to...
お知らせ • Mar 30Beijing Bayi Space LCD Technology Co.,Ltd. to Report Q1, 2024 Results on Apr 27, 2024Beijing Bayi Space LCD Technology Co.,Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024
分析記事 • Mar 06Beijing Bayi Space LCD Technology Co.,Ltd.'s (SHSE:688181) Shares Bounce 26% But Its Business Still Trails The MarketThose holding Beijing Bayi Space LCD Technology Co.,Ltd. ( SHSE:688181 ) shares would be relieved that the share price...
Reported Earnings • Feb 27Full year 2023 earnings released: EPS: CN¥0.81 (vs CN¥1.53 in FY 2022)Full year 2023 results: EPS: CN¥0.81 (down from CN¥1.53 in FY 2022). Revenue: CN¥799.5m (down 14% from FY 2022). Net income: CN¥107.9m (down 47% from FY 2022). Profit margin: 14% (down from 22% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 32% 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 fallen by 12% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings.
Valuation Update With 7 Day Price Move • Feb 01Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to CN¥18.75, the stock trades at a trailing P/E ratio of 20x. Average forward P/E is 17x in the Electronic industry in China. Total loss to shareholders of 44% over the past three years.
Reported Earnings • Nov 01Third quarter 2023 earnings released: EPS: CN¥0.32 (vs CN¥0.35 in 3Q 2022)Third quarter 2023 results: EPS: CN¥0.32 (down from CN¥0.35 in 3Q 2022). Revenue: CN¥218.2m (up 5.7% from 3Q 2022). Net income: CN¥41.9m (down 11% from 3Q 2022). Profit margin: 19% (down from 23% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 29% 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 fallen by 5% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings.
New Risk • Aug 09New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 16% Last year net profit margin: 24% 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 Risk High level of non-cash earnings (52% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (16% net profit margin).
Reported Earnings • Aug 08Second quarter 2023 earnings released: EPS: CN¥0.27 (vs CN¥0.49 in 2Q 2022)Second quarter 2023 results: EPS: CN¥0.27 (down from CN¥0.49 in 2Q 2022). Revenue: CN¥216.2m (down 17% from 2Q 2022). Net income: CN¥35.2m (down 46% from 2Q 2022). Profit margin: 16% (down from 25% in 2Q 2022). Revenue is forecast to grow 24% 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 2% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings.
お知らせ • Jun 28Beijing Bayi Space LCD Technology Co., Ltd. to Report First Half, 2023 Results on Aug 08, 2023Beijing Bayi Space LCD Technology Co., Ltd. announced that they will report first half, 2023 results on Aug 08, 2023
Valuation Update With 7 Day Price Move • Apr 27Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to CN¥35.77, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 37x in the Electronic industry in China. Total loss to shareholders of 27% over the past three years.
Reported Earnings • Apr 21Full year 2022 earnings released: EPS: CN¥2.14 (vs CN¥2.14 in FY 2021)Full year 2022 results: EPS: CN¥2.14 (in line with FY 2021). Revenue: CN¥934.3m (up 5.4% from FY 2021). Net income: CN¥203.9m (down 1.4% from FY 2021). Profit margin: 22% (down from 23% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.
Reported Earnings • Feb 25Full year 2022 earnings released: EPS: CN¥2.17 (vs CN¥2.14 in FY 2021)Full year 2022 results: EPS: CN¥2.17 (up from CN¥2.14 in FY 2021). Revenue: CN¥936.3m (up 5.6% from FY 2021). Net income: CN¥207.4m (flat on FY 2021). Profit margin: 22% (down from 23% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.
Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Jin Lu was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Oct 26Third quarter 2022 earnings released: EPS: CN¥0.49 (vs CN¥0.68 in 3Q 2021)Third quarter 2022 results: EPS: CN¥0.49 (down from CN¥0.68 in 3Q 2021). Revenue: CN¥206.4m (down 9.8% from 3Q 2021). Net income: CN¥46.8m (down 28% from 3Q 2021). Profit margin: 23% (down from 29% in 3Q 2021). The decrease in margin was driven by lower revenue.
Reported Earnings • Aug 18Second quarter 2022 earnings released: EPS: CN¥0.68 (vs CN¥0.57 in 2Q 2021)Second quarter 2022 results: EPS: CN¥0.68 (up from CN¥0.57 in 2Q 2021). Revenue: CN¥261.1m (up 21% from 2Q 2021). Net income: CN¥65.0m (up 18% from 2Q 2021). Profit margin: 25% (in line with 2Q 2021).
Valuation Update With 7 Day Price Move • Jun 02Investor sentiment improved over the past weekAfter last week's 16% share price gain to CN¥41.39, the stock trades at a trailing P/E ratio of 18.1x. Average trailing P/E is 33x in the Electronic industry in China. Total loss to shareholders of 22% over the past year.
Reported Earnings • Apr 28First quarter 2022 earnings released: EPS: CN¥0.65 (vs CN¥0.50 in 1Q 2021)First quarter 2022 results: EPS: CN¥0.65 (up from CN¥0.50 in 1Q 2021). Revenue: CN¥258.5m (up 25% from 1Q 2021). Net income: CN¥62.7m (up 30% from 1Q 2021). Profit margin: 24% (in line with 1Q 2021).
お知らせ • Mar 02Beijing Bayi Space LCD Technology Co., Ltd. (SHSE:688181) announces an Equity Buyback for CNY 100 million worth of its shares.Beijing Bayi Space LCD Technology Co., Ltd. (SHSE:688181) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its common stock. The shares will be repurchased at a purchase price of CNY 60 per share. The purpose of the program is ESOP or equity incentives. The program will be valid for 12 months.
Reported Earnings • Feb 27Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: CN¥2.14 (up from CN¥1.77 in FY 2020). Revenue: CN¥886.8m (up 37% from FY 2020). Net income: CN¥206.9m (up 21% from FY 2020). Profit margin: 23% (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 28Third quarter 2021 earnings released: EPS CN¥0.68 (vs CN¥0.50 in 3Q 2020)The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: CN¥228.8m (up 39% from 3Q 2020). Net income: CN¥65.5m (up 35% from 3Q 2020). Profit margin: 29% (in line with 3Q 2020).
Reported Earnings • Aug 18Second quarter 2021 earnings released: EPS CN¥0.57 (vs CN¥0.48 in 2Q 2020)The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: CN¥215.8m (up 44% from 2Q 2020). Net income: CN¥55.0m (up 20% from 2Q 2020). Profit margin: 26% (down from 31% in 2Q 2020). The decrease in margin was driven by higher expenses.
Reported Earnings • Apr 25Full year 2020 earnings released: EPS CN¥1.77 (vs CN¥1.52 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¥648.7m (up 51% from FY 2019). Net income: CN¥170.5m (up 55% from FY 2019). Profit margin: 26% (in line with FY 2019).
Is New 90 Day High Low • Jan 29New 90-day low: CN¥48.96The company is down 23% from its price of CN¥63.61 on 30 October 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 4.0% over the same period.
Is New 90 Day High Low • Dec 28New 90-day low: CN¥51.49The company is down 23% from its price of CN¥66.70 on 29 September 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 4.0% over the same period.
Is New 90 Day High Low • Dec 12New 90-day low: CN¥57.44The company is down 13% from its price of CN¥66.09 on 11 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 1.0% over the same period.
Is New 90 Day High Low • Nov 25New 90-day low: CN¥61.41The company is down 11% from its price of CN¥68.87 on 27 August 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is flat over the same period.
お知らせ • Jul 08Beijing Bayi Space LCD Technology Co., Ltd. to Report First Half, 2020 Results on Aug 18, 2020Beijing Bayi Space LCD Technology Co., Ltd. announced that they will report first half, 2020 results on Aug 18, 2020