Wasion Holdings Full Year 2023 Earnings: Beats Expectations

Wasion Holdings (HKG:3393) Full Year 2023 Results

Key Financial Results

• Revenue: CN¥7.25b (up 24% from FY 2022).
• Net income: CN¥521.2m (up 61% from FY 2022).
• Profit margin: 7.2% (up from 5.5% in FY 2022). The increase in margin was driven by higher revenue.
• EPS: CN¥0.53 (up from CN¥0.33 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Wasion Holdings Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 14%.

The primary driver behind last 12 months revenue was the Power Advanced Metering Infrastructure segment contributing a total revenue of CN¥2.67b (37% of total revenue). Notably, cost of sales worth CN¥4.67b amounted to 64% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Research & Development (R&D) costs, amounting to CN¥681.4m (33% of total expenses). Explore how 3393's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Hong Kong.

Performance of the Hong Kong Electronic industry.

The company's shares are up 9.0% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for Wasion Holdings that you should be aware of.

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