Aankondiging • Apr 24
Nanjing Panda Electronics Company Limited, Annual General Meeting, May 29, 2026 Nanjing Panda Electronics Company Limited, Annual General Meeting, May 29, 2026, at 14:30 China Standard Time. Location: conference room, 7 jingtianlu, nanjing., China Aankondiging • Mar 30
Nanjing Panda Electronics Company Limited to Report Q1, 2026 Results on Apr 29, 2026 Nanjing Panda Electronics Company Limited announced that they will report Q1, 2026 results on Apr 29, 2026 Aankondiging • Jan 22
Nanjing Panda Electronics Company Limited Provides Earnings Guidance for the Period from January 1, 2025 to December 31, 2025 Nanjing Panda Electronics Company Limited provided earnings guidance for the period From 1 January 2025 to 31 December 2025. It is estimated that the net profit attributable to shareholders of the parent company for 2025 will be between approximately RMB 10,000,000 and RMB 15,000,000, achieving a turnaround from loss to profit. It is estimated that the net loss attributable to shareholders of the parent company after extraordinary items for 2025 will be between approximately RMB 259,000,000 and RMB 254,000,000. Aankondiging • Dec 26
Nanjing Panda Electronics Company Limited to Report Fiscal Year 2025 Results on Mar 28, 2026 Nanjing Panda Electronics Company Limited announced that they will report fiscal year 2025 results on Mar 28, 2026 Aankondiging • Oct 01
Ericsson (China) Company Ltd. entered into a asset transaction agreement to acquire remaining 49% stake in Nanjing Ericsson Panda Communication Co. Ltd from Nanjing Panda Electronics Company Limited (SHSE:600775), CETC Asset Management Co., Ltd. and Hong Kong Yung Shing Enterprise Company for approximately CNY 465 million. Ericsson (China) Company Ltd. signed a letter of intent to acquire remaining 49% stake in Nanjing Ericsson Panda Communication Co. Ltd from Nanjing Panda Electronics Company Limited (SHSE:600775), CETC Asset Management Co., Ltd. and Hong Kong Yung Shing Enterprise Company for approximately CNY 470 million on September 26, 2025. On September 29, 2025, Ericsson (China) Company Ltd. entered into a asset transaction agreement to acquire remaining 49% stake in Nanjing Ericsson Panda Communication Co. Ltd from Nanjing Panda Electronics Company Limited (SHSE:600775), CETC Asset Management Co., Ltd. and Hong Kong Yung Shing Enterprise Company for approximately CNY 465 million. A cash consideration of CNY 465 million will be paid by Ericsson (China) Company Ltd. As part of consideration, CNY 465 million is paid towards common equity of Nanjing Ericsson Panda Communication Co. Ltd. Upon completion, Ericsson (China) Company Ltd. will own 100% stake in Nanjing Ericsson Panda Communication Co. Ltd.
For the period ending December 31, 2024, Nanjing Ericsson Panda Communication Co. Ltd reported total revenue of CNY 3.38 billion and net income of CNY 72.48 million. As of December 31, 2024, Nanjing Ericsson Panda Communication Co. Ltd reported total assets of CNY 2.66 billion and total common equity of CNY 1.02 billion. Aankondiging • Sep 29
Nanjing Panda Electronics Company Limited to Report Q3, 2025 Results on Oct 28, 2025 Nanjing Panda Electronics Company Limited announced that they will report Q3, 2025 results on Oct 28, 2025 Aankondiging • Jul 11
Nanjing Panda Electronics Company Limited Provides Group Earnings Guidance for the First Half of 30 June 2025 Nanjing Panda Electronics Company Limited provided group earnings guidance for the first half of 30 June 2025. For the period, the company is estimated that the net loss attributable to shareholders of the parent company will be between approximately RMB 54 million and RMB 45 million. It is estimated that the net loss attributable to shareholders of the parent company after extraordinary items will be between approximately RMB 59 million and RMB 50 million. Operating results and financial condition for the corresponding period of the previous year: Total loss: RMB 36.5743 million. Net loss attributable to shareholders of the parent company: RMB 68.1981 million. Net loss attributable to shareholders of the parent company after extraordinary items: RMB 76.5493 million. Loss per share: RMB0.0746. Main reasons for the estimated loss for the period: The Company's industrial Internet and intelligent manufacturing businesses are in the transition period of transformation and adjustment. In the first half of the year, there were few completion acceptances and settlements of related businesses, which has had a certain impact on operating revenue and net profit attributable to shareholders of the parent company. The current market competition in the power and communication businesses is fierce, and the revenue has declined, which has had a certain impact on the net profit attributable to shareholders of the parent company. Aankondiging • Jun 30
Nanjing Panda Electronics Company Limited to Report First Half, 2025 Results on Aug 27, 2025 Nanjing Panda Electronics Company Limited announced that they will report first half, 2025 results on Aug 27, 2025 Aankondiging • May 22
Nanjing Panda Electronics Company Limited, Annual General Meeting, Jun 20, 2025 Nanjing Panda Electronics Company Limited, Annual General Meeting, Jun 20, 2025, at 14:30 China Standard Time. Location: conference room, 7 jingtianlu, nanjing China Aankondiging • Mar 28
Nanjing Panda Electronics Company Limited to Report Q1, 2025 Results on Apr 29, 2025 Nanjing Panda Electronics Company Limited announced that they will report Q1, 2025 results on Apr 29, 2025 Aankondiging • Jan 17
Nanjing Panda Electronics Company Limited Provides Earnings Guidance for the Full Year Ended December 31, 2024 Nanjing Panda Electronics Company Limited provided earnings guidance for the full year ended December 31, 2024. for the year, the company estimated that there will be a loss and the net loss attributable to shareholders of the parent company for 2024 will be between approximately RMB 220,000,000 and RMB 150,000,000. It is estimated that the net loss attributable to shareholders of the parent company after extraordinary items for 2024 will be between approximately RMB 240,000,000 and RMB 170,000,000. main reasons for the estimated loss for the period: 1. The Company's intelligent manufacturing business, power supply and communication businesses are experiencing fierce competition in the existing market, with decreasing revenue and gross profit, and the overall business development has been affected to a certain extent. In the face of the severe and complex development environment and various internal and external challenges, the Company has actively adjusted its business structure and explored new customers, however, due to the long transition period for market transformation, the expansion of new customers fell short of expectations, and large-scale sales of related businesses have not yet been formed, which has had a great impact on net profit attributable to shareholders of the parent company. 2. In response to changes in market and customer demand, the Company actively promoted industrial upgrading and maintained a high level of investment in research and development, resulting in an increase in research and development expenses during the reporting period, which has had a certain impact on net profit attributable to shareholders of the parent company. 3. According to the current operating conditions and asset status of the Company, and in accordance with the Accounting Standards for Business Enterprises, the Company conducted sufficient impairment tests on relevant assets and provided for credit impairment losses and asset impairment losses, which has had a certain impact on the net profit attributable to shareholders of the parent company. Aankondiging • Dec 27
Nanjing Panda Electronics Company Limited to Report Fiscal Year 2024 Results on Mar 28, 2025 Nanjing Panda Electronics Company Limited announced that they will report fiscal year 2024 results on Mar 28, 2025 Reported Earnings • Oct 30
Third quarter 2024 earnings released: CN¥0.034 loss per share (vs CN¥0.005 loss in 3Q 2023) Third quarter 2024 results: CN¥0.034 loss per share (further deteriorated from CN¥0.005 loss in 3Q 2023). Revenue: CN¥578.0m (flat on 3Q 2023). Net loss: CN¥30.7m (loss widened CN¥26.4m from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 137 percentage points per year, which is a significant difference in performance. Aankondiging • Sep 26
Nanjing Panda Electronics Company Limited to Report Nine Months, 2024 Results on Oct 29, 2024 Nanjing Panda Electronics Company Limited announced that they will report nine months, 2024 results on Oct 29, 2024 Reported Earnings • Aug 28
Second quarter 2024 earnings released: CN¥0.024 loss per share (vs CN¥0.003 profit in 2Q 2023) Second quarter 2024 results: CN¥0.024 loss per share (down from CN¥0.003 profit in 2Q 2023). Revenue: CN¥766.3m (down 4.8% from 2Q 2023). Net loss: CN¥22.3m (down CN¥25.4m from profit in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 125 percentage points per year, which is a significant difference in performance. New Risk • Aug 17
New major risk - Revenue and earnings growth Earnings have declined by 61% 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 61% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.1% average weekly change). New Risk • Jul 30
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 7.1% 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. This is currently the only risk that has been identified for the company. Aankondiging • Jun 28
Nanjing Panda Electronics Company Limited to Report First Half, 2024 Results on Aug 28, 2024 Nanjing Panda Electronics Company Limited announced that they will report first half, 2024 results on Aug 28, 2024 Aankondiging • May 23
Nanjing Panda Electronics Company Limited, Annual General Meeting, Jun 21, 2024 Nanjing Panda Electronics Company Limited, Annual General Meeting, Jun 21, 2024, at 14:30 China Standard Time. Location: conference room, 7 jingtianlu, nanjing, China Reported Earnings • Apr 27
First quarter 2024 earnings released: CN¥0.05 loss per share (vs CN¥0.033 loss in 1Q 2023) First quarter 2024 results: CN¥0.05 loss per share (further deteriorated from CN¥0.033 loss in 1Q 2023). Revenue: CN¥484.0m (down 13% from 1Q 2023). Net loss: CN¥45.9m (loss widened 51% from 1Q 2023). Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Communications industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 133 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 30
Full year 2023 earnings released: CN¥0.26 loss per share (vs CN¥0.044 profit in FY 2022) Full year 2023 results: CN¥0.26 loss per share (down from CN¥0.044 profit in FY 2022). Revenue: CN¥2.91b (down 30% from FY 2022). Net loss: CN¥237.9m (down CN¥278.3m from profit in FY 2022). Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Communications industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 115 percentage points per year, which is a significant difference in performance. Aankondiging • Mar 29
Nanjing Panda Electronics Company Limited to Report Q1, 2024 Results on Apr 26, 2024 Nanjing Panda Electronics Company Limited announced that they will report Q1, 2024 results on Apr 26, 2024 Aankondiging • Feb 01
Nanjing Panda Electronics Company Limited Provides Earnings Guidance for the Year Ended December 31, 2023 Nanjing Panda Electronics Company Limited provided earnings guidance for the year ended December 31, 2023. for the year, the company expects the net profit attributable to shareholders of the parent company for 2023 will be between RMB 16,194,300 and RMB 24,291,500, which will decrease by approximately RMB 16,194,300 to RMB 24,291,500, representing a decrease of approximately 40% to 60% as compared with the corresponding period of the previous year. It is estimated that the net loss or profit attributable to shareholders of the parent company after extraordinary items for 2023 range from approximately a net loss of RMB 3,272,900 to a net profit of RMB 4,824,300, which will decrease by approximately RMB 6,308,300 to RMB 14,405,500, representing a decrease of approximately 56.67% to 129.40% as compared with the corresponding period of the previous year. Decrease in net profit as a result of the Company's product restructuring and decrease in revenue from principal business: During the reporting period, some of the Company's product structures were adjusted, resulting in the market not meeting expectations; while the delivery cycles of some operations were adjusted, resulting in the failure to meet the requirements for settlement, representing a year-on-year decline in revenue and profit; and some of the changes in the business model resulted in a significant decline in revenue from principal business, which had a certain impact on the net profit attributable to shareholders of the parent company. Aankondiging • Dec 29
Nanjing Panda Electronics Company Limited to Report Fiscal Year 2023 Results on Mar 29, 2024 Nanjing Panda Electronics Company Limited announced that they will report fiscal year 2023 results on Mar 29, 2024 Aankondiging • Nov 15
Nanjing Panda Electronics Company Limited Announces Resignation of Shen Jianlong as Non-Executive Director On 14 November 2023, the board of directors of Nanjing Panda Electronics Company Limited announced resignation of Mr. Shen Jianlong, a non-executive director, who applied for resignation as a non-executive director of the tenth session of the board of directors of the Company and the relevant positions in the committees under the board of directors due to retirement since he has reached retirement age. Upon the resignation, he will cease to hold other positions in the Company. Pursuant to relevant provisions of the Company Law and the Articles of Association, the resignation of Mr. Shen Jianlong will not lead to the number of members of the board of directors of the Company falling below the minimum quorum, nor will it affect the normal operation of the board of directors of the Company and his resignation report will take effect from the date of its being served on the board of directors. During his tenure of office as a non-executive director of the Company, Mr. Shen Jianlong has been conscientious and diligent in fulfilling his duties, and played an important role in the standardised governance and healthy development of the Company. The Company and the board of directors would like to express its sincere gratitude to Mr. Shen Jianlong for his valuable contributions to the development of the Company during his tenure of office. New Risk • Nov 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 6.9% 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 38% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.1% net profit margin). Aankondiging • Nov 11
Nanjing Panda Electronics Company Limited Announces Change of Senior Management Members Nanjing Panda Electronics Company Limited received a written resignation report from Mr. Hu Dali, the chief accountant of the Company, who applied for resignation as the chief accountant of the Company due to his change of job arrangement. Mr. Hu Dali has confirmed that he has no disagreement with the tenth session of the Board of the Company and the Company, and there is no other matter in relation to his resignation which needs to be brought to the attention of the shareholders of the Company. Under the related work arrangement, Mr. Hu Dali's resignation report took effect from the date of election and engagement of a new chief accountant by the Board of the Company. The Board announced that at the twenty-first meeting of the tenth session of the Board of the Company convened on 10 November 2023, upon the consideration of and nomination by the Nomination Committee, the Audit Committee and the independent directors, and after taking into account various factors, the Board considered and approved the resolution on the Appointment of the Chief Accountant of the Company and agreed to appoint Mr. Hu Shoujun as the chief accountant of the Company. The aforesaid appointment shall take effect from the date of consideration and approval by the Board, and the term of office shall be concurrent with the tenth session of the Board of the Company. At the same time, the Board hereby announces that at the twenty-first meeting of the tenth session of the Board of the Company convened on 10 November 2023, upon the consideration of and nomination by the Nomination Committee and the independent directors, and after taking into account various factors, the Board considered and approved the resolution on the Appointment of the Deputy General Manager of the Company and agreed to appoint Mr. Hu Dali as the deputy general manager of the Company. The aforesaid appointment shall take effect from the date of consideration and approval by the Board, and the term of office shall be concurrent with the tenth session of the Board of the Company. Mr. Hu Shoujun, born in 1975, graduated from the Central Party School with a postgraduate degree in economic management, and is a certified public accountant. He successively served as an auditor of the Audit Department of Nanjing Panda Electronics Company Limited, manager, deputy director general and director of the Financial Department of Nanjing Panda Information Industry Group Co. Ltd., and deputy head and head of the Planning and Finance Department of Nanjing CEC Panda LCD Technology Co. Ltd. He served as the deputy director of the Finance and Assets Department of Nanjing Electronics Information Industrial Corporation from September 2012 to January 2016, the director of the Finance and Assets Department of Nanjing Electronics Information Industrial Corporation from January 2016 to September 2018, and head of the Financial Department of Nanjing Electronics Information Industrial Corporation from September 2018 to November 2023. Mr. Hu has long been engaged in corporate financial management and has profound professional knowledge in finance and extensive experience in operation and management. Mr. Hu Dali, born in 1978, has a bachelor's degree in accounting from Nanjing University of Finance and Economics and is a senior accountant and a certified management accountant. He successively served as an accountant and the deputy head of the Financial Management Department, the deputy head of the High-tech Electronic Equipment Department, and the deputy director of the Beijing Office of Nanjing Sanle Group Co. Ltd. From January 2013 to September 2013, he served as the deputy head of the Financial Management Department of Nanjing Sanle Group Co. Ltd.; from September 2013 to January 2014, he served as the deputy head (executive) of the Financial Management Department of Nanjing Sanle Group Co. Ltd.; from January 2014 to March 2018, he served as the head of the Financial Management Department of Nanjing Sanle Group Co. Ltd.; from April 2018 to April 2019, he served as the vice chief accountant and the head of the Financial Management Department of Nanjing Sanle Group Co. Ltd. He served as the chief accountant of Nanjing Panda Electronics Company Limited from May 2019 to November 2023 and concurrently served as the legal representative, the secretary of the party committee and general manager of Nanjing Panda Electronic Equipment Co. Ltd. in October 2022. Mr. Hu has long been engaged in corporate financial management and has profound professional knowledge in finance and extensive experience in operation and management. Reported Earnings • Oct 31
Third quarter 2023 earnings released: CN¥0.005 loss per share (vs CN¥0.009 loss in 3Q 2022) Third quarter 2023 results: CN¥0.005 loss per share (improved from CN¥0.009 loss in 3Q 2022). Revenue: CN¥583.5m (down 36% from 3Q 2022). Net loss: CN¥4.37m (loss narrowed 44% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Aankondiging • Sep 26
Nanjing Panda Electronics Company Limited to Report Q3, 2023 Results on Oct 30, 2023 Nanjing Panda Electronics Company Limited announced that they will report Q3, 2023 results on Oct 30, 2023 Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: CN¥0.003 (vs CN¥0.032 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.003 (down from CN¥0.032 in 2Q 2022). Revenue: CN¥804.7m (down 17% from 2Q 2022). Net income: CN¥3.11m (down 89% from 2Q 2022). Profit margin: 0.4% (down from 3.0% in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Aankondiging • Jul 14
Nanjing Panda Electronics Company Limited Provides Estimated Earnings Results for the First Half of Year 2023 Nanjing Panda Electronics Company Limited provided Estimated earnings Results for the First Half of Year 2023. It is estimated that the net profit attributable to shareholders of the parent company for the first half of year 2023 will be between RMB 30,000,000 and RMB 24,000,000. Aankondiging • Jun 28
Nanjing Panda Electronics Company Limited to Report First Half, 2023 Results on Aug 29, 2023 Nanjing Panda Electronics Company Limited announced that they will report first half, 2023 results on Aug 29, 2023 Aankondiging • Jun 21
Nanjing Panda Electronics Company Limited Proposes Final Dividend for the Year Ended December 31, 2022, Payable on August 10, 2023 Nanjing Panda Electronics Company Limited proposed final dividend of RMB 0.14 per 10 shares for the year ended December 31, 2022. The payment date is August 10, 2023.Ex-dividend date is July 3, 2023. Record date is 11 July 2023. Aankondiging • Jun 08
Nanjing Panda Electronics Company Limited Announces Resignation of Zhao Ji as Chairman of the Supervisory Committee Nanjing Panda Electronics Company Limited announced the supervisory committee of the company has received the written resignation report from Mr. Zhao Ji, the chairman of the supervisory committee on 6 June 2023. Mr. Zhao Ji has resigned as the chairman and a supervisor of the tenth session of the supervisory committee of the company as he has reached the age of retirement. Mr. Zhao Ji will no longer hold other position in the company following his resignation. Aankondiging • May 25
Nanjing Panda Electronics Company Limited, Annual General Meeting, Jun 27, 2023 Nanjing Panda Electronics Company Limited, Annual General Meeting, Jun 27, 2023, at 14:30 China Standard Time. Location: Conference Room, 7 Jingtianlu Nanjing China Agenda: To consider the resolution on the absorption and merger of Nanjing Panda Electronics Technology Development Company Limited; to consider the work report of the board of directors of the Company for the year 2022; to consider the work report of the supervisory committee of the Company for the year 2022; to consider the final financial report of the Company for the year 2022; to consider the financial budget report of the Company for the year 2023; to consider the profit appropriation plan of the Company for the year 2022; to consider the resolution on the appointment of audit firms for the year 2023; to consider 2022 annual report of the Company and its summary; to consider the report of the independent directors of the Company for the year 2022; to consider the resolution on the purchase of liability insurance for directors for the year 2023; and to consider other matters. Reported Earnings • Apr 28
First quarter 2023 earnings released: CN¥0.033 loss per share (vs CN¥0.019 loss in 1Q 2022) First quarter 2023 results: CN¥0.033 loss per share (further deteriorated from CN¥0.019 loss in 1Q 2022). Revenue: CN¥558.1m (down 47% from 1Q 2022). Net loss: CN¥30.5m (loss widened 80% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 6% per year. Aankondiging • Jan 10
Nanjing Panda Electronics Company Limited to Report Fiscal Year 2022 Results on Mar 30, 2023 Nanjing Panda Electronics Company Limited announced that they will report fiscal year 2022 results on Mar 30, 2023 Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 2 independent directors. 6 non-independent directors. Independent Non-Executive Director Keqin Dai was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Oct 27
Third quarter 2022 earnings released: CN¥0.009 loss per share (vs CN¥0.016 loss in 3Q 2021) Third quarter 2022 results: CN¥0.009 loss per share (improved from CN¥0.016 loss in 3Q 2021). Revenue: CN¥916.5m (down 21% from 3Q 2021). Net loss: CN¥7.82m (loss narrowed 48% from 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Sep 02
Second quarter 2022 earnings released: EPS: CN¥0.032 (vs CN¥0.034 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.032 (down from CN¥0.034 in 2Q 2021). Revenue: CN¥972.9m (down 17% from 2Q 2021). Net income: CN¥29.0m (down 7.9% from 2Q 2021). Profit margin: 3.0% (up from 2.7% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 30
First quarter 2022 earnings released: CN¥0.019 loss per share (vs CN¥0.014 loss in 1Q 2021) First quarter 2022 results: CN¥0.019 loss per share (down from CN¥0.014 loss in 1Q 2021). Revenue: CN¥1.06b (up 6.9% from 1Q 2021). Net loss: CN¥17.0m (loss widened 29% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
Less than half of directors are independent There are 9 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 9 new directors. No experienced directors. 3 highly experienced directors. 3 independent directors (6 non-independent directors). Employee Representative Supervisor Yuxin Zhou is the most experienced director on the board, commencing their role in 2008. Independent Non Executive Director Baggio Chu was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Apr 02
Full year 2021 earnings released: EPS: CN¥0.046 (vs CN¥0.085 in FY 2020) Full year 2021 results: EPS: CN¥0.046 (down from CN¥0.085 in FY 2020). Revenue: CN¥4.53b (up 15% from FY 2020). Net income: CN¥41.9m (down 46% from FY 2020). Profit margin: 0.9% (down from 2.0% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 01
Third quarter 2021 earnings released: CN¥0.016 loss per share (vs CN¥0.012 profit in 3Q 2020) The company reported a soft third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: CN¥1.17b (up 11% from 3Q 2020). Net loss: CN¥14.9m (down 238% from profit in 3Q 2020). 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 11% per year, which means it is well ahead of earnings. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS CN¥0.034 (vs CN¥0.059 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥1.18b (up 17% from 2Q 2020). Net income: CN¥31.4m (down 41% from 2Q 2020). Profit margin: 2.7% (down from 5.3% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 22% share price gain to CN¥7.82, the stock trades at a trailing P/E ratio of 68.1x. Average trailing P/E is 41x in the Communications industry in China. Total returns to shareholders of 8.7% over the past three years. Reported Earnings • Apr 29
First quarter 2021 earnings released: CN¥0.014 loss per share (vs CN¥0.044 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: CN¥991.9m (up 40% from 1Q 2020). Net loss: CN¥13.2m (loss narrowed 68% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 29
Full year 2020 earnings released: EPS CN¥0.085 (vs CN¥0.058 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CN¥3.95b (down 15% from FY 2019). Net income: CN¥77.3m (up 47% from FY 2019). Profit margin: 2.0% (up from 1.1% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 29
New 90-day low: CN¥6.61 The company is down 7.0% from its price of CN¥7.08 on 30 October 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Communications industry, which is down 9.0% over the same period. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥28.3m, down 78% from the prior year. Total revenue was CN¥4.22b over the last 12 months, down 8.5% from the prior year. Is New 90 Day High Low • Oct 29
New 90-day low: CN¥7.46 The company is down 10.0% from its price of CN¥8.33 on 31 July 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Communications industry, which is down 7.0% over the same period. Is New 90 Day High Low • Sep 25
New 90-day low: CN¥7.65 The company is down 9.0% from its price of CN¥8.39 on 24 June 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Communications industry, which is down 2.0% over the same period. 
