Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥37.70, the stock trades at a trailing P/E ratio of 58.6x. Average trailing P/E is 74x in the Electronic industry in China. Total returns to shareholders of 181% over the past three years. Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. Non-Employee Supervisor Yujuan Lao was the last 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: Insufficient board refreshment. Declared Dividend • May 30
Dividend of CN¥0.20 announced Shareholders will receive a dividend of CN¥0.20. Ex-date: 5th June 2026 Payment date: 5th June 2026 Dividend yield will be 0.7%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (31% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • May 19
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 9.8% 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 Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.8% average weekly change). Profit margins are more than 30% lower than last year (6.9% net profit margin). Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to CN¥37.66, the stock trades at a trailing P/E ratio of 58.5x. Average trailing P/E is 74x in the Electronic industry in China. Total returns to shareholders of 185% over the past three years. New Risk • Apr 28
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: 6.9% Last year net profit margin: 10% 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: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (6.9% net profit margin). Reported Earnings • Apr 27
Full year 2025 earnings released: EPS: CN¥0.73 (vs CN¥0.76 in FY 2024) Full year 2025 results: EPS: CN¥0.73 (down from CN¥0.76 in FY 2024). Revenue: CN¥1.79b (up 21% from FY 2024). Net income: CN¥142.0m (down 5.6% from FY 2024). Profit margin: 7.9% (down from 10% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Apr 27
Techshine Electronics Co.,Ltd., Annual General Meeting, May 22, 2026 Techshine Electronics Co.,Ltd., Annual General Meeting, May 22, 2026, at 14:30 China Standard Time. Location: 18F, Building 1, Qianhai Science and Technology Park, Xixiang Subdistrict, Bao'an District, Shenzhen, Guangdong China Aankondiging • Mar 31
Techshine Electronics Co.,Ltd. to Report Q1, 2026 Results on Apr 27, 2026 Techshine Electronics Co.,Ltd. announced that they will report Q1, 2026 results on Apr 27, 2026 Aankondiging • Dec 31
Techshine Electronics Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 27, 2026 Techshine Electronics Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 27, 2026 New Risk • Nov 12
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 9.4% 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 (9.4% average weekly change). High level of non-cash earnings (37% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Oct 29
Third quarter 2025 earnings released: EPS: CN¥0.20 (vs CN¥0.20 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.20 (down from CN¥0.20 in 3Q 2024). Revenue: CN¥482.7m (up 21% from 3Q 2024). Net income: CN¥38.0m (down 4.8% from 3Q 2024). Profit margin: 7.9% (down from 10.0% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 30% 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 7% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Sep 30
Techshine Electronics Co.,Ltd. to Report Q3, 2025 Results on Oct 29, 2025 Techshine Electronics Co.,Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥29.54, the stock trades at a trailing P/E ratio of 35.9x. Average trailing P/E is 62x in the Electronic industry in China. Total returns to shareholders of 168% over the past year. New Risk • Sep 02
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: 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 (6.8% average weekly change). Aankondiging • Jul 02
Techshine Electronics Co.,Ltd. to Report First Half, 2025 Results on Aug 28, 2025 Techshine Electronics Co.,Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥26.50, the stock trades at a trailing P/E ratio of 31.9x. Average trailing P/E is 47x in the Electronic industry in China. Total returns to shareholders of 110% over the past year. Declared Dividend • May 31
Dividend of CN¥0.40 announced Shareholders will receive a dividend of CN¥0.40. Ex-date: 5th June 2025 Payment date: 5th June 2025 Dividend yield will be 1.5%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (35% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 26 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 26% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Aankondiging • May 27
Techshine Electronics Co.,Ltd. Approves Cash Dividend for 2024 Techshine Electronics Co.,Ltd. at its Annual General Meeting of 2024 on 23 May 2025, approved Cash dividend (tax included): CNY 4.00000000 per ten shares for 2024. New Risk • May 02
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 Risks Share price has been highly volatile over the past 3 months (11% average weekly change). High level of non-cash earnings (23% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Aankondiging • Apr 23
Techshine Electronics Co.,Ltd. Proposes Final Cash Dividend for 2024 Techshine Electronics Co.,Ltd. proposed final cash dividend of CNY 4.00000000 per 10 shares (tax included) for 2024. Aankondiging • Apr 22
Techshine Electronics Co.,Ltd., Annual General Meeting, May 23, 2025 Techshine Electronics Co.,Ltd., Annual General Meeting, May 23, 2025, at 14:30 China Standard Time. Location: 18F, Building 1, Qianhai Science and Technology Park, Xixiang Subdistrict, Bao'an District, Shenzhen, Guangdong China Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to CN¥22.18, the stock trades at a trailing P/E ratio of 20.9x. Average trailing P/E is 48x in the Electronic industry in China. Total returns to shareholders of 37% over the past year. Aankondiging • Mar 31
Techshine Electronics Co.,Ltd. to Report Q1, 2025 Results on Apr 28, 2025 Techshine Electronics Co.,Ltd. announced that they will report Q1, 2025 results on Apr 28, 2025 New Risk • Mar 10
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 8.2% 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 (116% cash payout ratio). Share price has been volatile over the past 3 months (8.2% average weekly change). Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥30.99, the stock trades at a trailing P/E ratio of 29.2x. Average trailing P/E is 53x in the Electronic industry in China. Total returns to shareholders of 94% over the past year. Reported Earnings • Feb 27
Full year 2024 earnings released: EPS: CN¥1.06 (vs CN¥0.76 in FY 2023) Full year 2024 results: EPS: CN¥1.06 (up from CN¥0.76 in FY 2023). Revenue: CN¥1.48b (up 17% from FY 2023). Net income: CN¥150.4m (up 40% from FY 2023). Profit margin: 10% (up from 8.5% in FY 2023). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥24.35, the stock trades at a trailing P/E ratio of 27.6x. Average trailing P/E is 50x in the Electronic industry in China. Total returns to shareholders of 89% over the past year. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥21.96, the stock trades at a trailing P/E ratio of 24.9x. Average trailing P/E is 46x in the Electronic industry in China. Total returns to shareholders of 31% over the past year. Aankondiging • Dec 31
Techshine Electronics Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 22, 2025 Techshine Electronics Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 22, 2025 New Risk • Nov 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 25% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (116% cash payout ratio). Large one-off items impacting financial results. Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.28 (vs CN¥0.18 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.28 (up from CN¥0.18 in 3Q 2023). Revenue: CN¥398.2m (up 24% from 3Q 2023). Net income: CN¥39.9m (up 59% from 3Q 2023). Profit margin: 10.0% (up from 7.9% in 3Q 2023). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥18.55, the stock trades at a trailing P/E ratio of 23.8x. Average trailing P/E is 41x in the Electronic industry in China. Total loss to shareholders of 14% over the past year. Aankondiging • Sep 30
Techshine Electronics Co.,Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Techshine Electronics Co.,Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to CN¥19.71, the stock trades at a trailing P/E ratio of 25.3x. Average trailing P/E is 38x in the Electronic industry in China. Total loss to shareholders of 12% over the past year. New Risk • Sep 21
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: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. New Risk • Aug 15
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 7.0% 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 (32% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.0% average weekly change). Aankondiging • Jun 29
Techshine Electronics Co.,Ltd. to Report First Half, 2024 Results on Aug 30, 2024 Techshine Electronics Co.,Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Declared Dividend • Jun 15
Dividend reduced to CN¥0.40 Dividend of CN¥0.40 is 33% lower than last year. Ex-date: 18th June 2024 Payment date: 18th June 2024 Dividend yield will be 1.5%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (38% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. Earnings per share has grown by 18% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Aankondiging • May 26
Techshine Electronics Co.,Ltd. Approves Cash Dividend for the Year 2023 Techshine Electronics Co.,Ltd. at its AGM held on May 23, 2024, approved the cash dividend/10 shares (tax included): CNY 4.00000000 for the year 2023. Aankondiging • Apr 27
Techshine Electronics Co.,Ltd. Proposes Final Cash Dividend for the Year 2023 Techshine Electronics Co.,Ltd. proposed final cash dividend of CNY 4.0000000 per ten shares (tax included) for the year 2023. Aankondiging • Apr 26
Techshine Electronics Co.,Ltd., Annual General Meeting, May 23, 2024 Techshine Electronics Co.,Ltd., Annual General Meeting, May 23, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Shenzhen, Guangdong China Reported Earnings • Apr 25
Full year 2023 earnings released: EPS: CN¥1.06 (vs CN¥1.48 in FY 2022) Full year 2023 results: EPS: CN¥1.06 (down from CN¥1.48 in FY 2022). Revenue: CN¥1.27b (up 2.7% from FY 2022). Net income: CN¥107.4m (down 9.2% from FY 2022). Profit margin: 8.5% (down from 9.6% in FY 2022). The decrease in margin was driven by higher expenses. Aankondiging • Mar 30
Techshine Electronics Co.,Ltd. to Report Q1, 2024 Results on Apr 29, 2024 Techshine Electronics Co.,Ltd. announced that they will report Q1, 2024 results on Apr 29, 2024 New Risk • Feb 08
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 7.8% 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: Major Risk High level of non-cash earnings (25% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.8% average weekly change). Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥20.75, the stock trades at a trailing P/E ratio of 18.9x. Average trailing P/E is 34x in the Electronic industry in China. Total loss to shareholders of 25% over the past year. Aankondiging • Dec 30
Techshine Electronics Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 25, 2024 Techshine Electronics Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 25, 2024 Reported Earnings • Oct 26
Third quarter 2023 earnings released Third quarter 2023 results: EPS: CN¥0.25. Net income: CN¥25.2m (up CN¥25.2m from 3Q 2022). Buying Opportunity • Oct 18
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 33%. The fair value is estimated to be CN¥38.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.4% over the last year. Earnings per share has declined by 4.8%. Buying Opportunity • Sep 26
Now 20% undervalued Over the last 90 days, the stock is up 16%. The fair value is estimated to be CN¥38.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.4% over the last year. Earnings per share has declined by 4.8%. New Risk • Aug 29
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% 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 Risks Share price has been highly volatile over the past 3 months (11% average weekly change). High level of non-cash earnings (22% accrual ratio). Minor Risk Dividend is not well covered by cash flows (dividend per share is over 7x cash flows per share). Reported Earnings • Aug 29
Second quarter 2023 earnings released Second quarter 2023 results: EPS: CN¥0.35. Net income: CN¥35.4m (up CN¥35.4m from 2Q 2022). New Risk • Jul 15
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 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 Dividend is not well covered by cash flows (95% cash payout ratio). Share price has been volatile over the past 3 months (7.4% average weekly change). Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to CN¥36.11, the stock trades at a trailing P/E ratio of 29.9x. Average trailing P/E is 47x in the Electronic industry in China. New Risk • Jun 08
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 95% Dividend yield: 2.2% 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. This is currently the only risk that has been identified for the company. Aankondiging • Jun 03
Techshine Electronics Co.,Ltd. Announces Final Cash Dividend for the Year 2022, Payable on 09 June 2023 Techshine Electronics Co.,Ltd. announced a final cash dividend of CNY 6.00 (tax included) per 10 A shares for the year 2022. Record date is 08 June 2023, Ex-date is 09 June 2023, Payment date is 09 June 2023. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.