Board Change • May 20
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 4 independent directors (5 non-independent directors). Deputy GM & Non-Independent Director Kai Yan 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. Announcement • Apr 29
Cosonic Intelligent Technologies Co., Ltd., Annual General Meeting, May 22, 2026 Cosonic Intelligent Technologies Co., Ltd., Annual General Meeting, May 22, 2026, at 15:30 China Standard Time. Location: The Company's Meeting Room, Dongguan, Guangdong China Announcement • Mar 31
Cosonic Intelligent Technologies Co., Ltd. to Report Q1, 2026 Results on Apr 29, 2026 Cosonic Intelligent Technologies Co., Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026 Announcement • Dec 31
Cosonic Intelligent Technologies Co., Ltd. to Report Fiscal Year 2025 Results on Apr 29, 2026 Cosonic Intelligent Technologies Co., Ltd. announced that they will report fiscal year 2025 results on Apr 29, 2026 Announcement • Sep 30
Cosonic Intelligent Technologies Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Cosonic Intelligent Technologies Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Announcement • Jul 02
Cosonic Intelligent Technologies Co., Ltd. to Report First Half, 2025 Results on Aug 29, 2025 Cosonic Intelligent Technologies Co., Ltd. announced that they will report first half, 2025 results on Aug 29, 2025 Announcement • Apr 28
Cosonic Intelligent Technologies Co., Ltd., Annual General Meeting, May 20, 2025 Cosonic Intelligent Technologies Co., Ltd., Annual General Meeting, May 20, 2025, at 15:30 China Standard Time. Location: The Company's Meeting Room, Dongguan, Guangdong China Announcement • Mar 31
Cosonic Intelligent Technologies Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Cosonic Intelligent Technologies Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Announcement • Dec 31
Cosonic Intelligent Technologies Co., Ltd. to Report Fiscal Year 2024 Results on Apr 28, 2025 Cosonic Intelligent Technologies Co., Ltd. announced that they will report fiscal year 2024 results on Apr 28, 2025 Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.10 (vs CN¥0.19 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.10 (down from CN¥0.19 in 3Q 2023). Revenue: CN¥805.7m (up 20% from 3Q 2023). Net income: CN¥31.5m (down 50% from 3Q 2023). Profit margin: 3.9% (down from 9.3% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 2% per year and the company’s share price has also fallen by 2% per year. New Risk • Oct 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (11% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.4% net profit margin). Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Valuation Update With 7 Day Price Move • Oct 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥17.87, the stock trades at a trailing P/E ratio of 71.5x. Average trailing P/E is 21x in the Consumer Durables industry in China. Total returns to shareholders of 5.5% over the past three years. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to CN¥15.64, the stock trades at a trailing P/E ratio of 64.9x. Average trailing P/E is 19x in the Consumer Durables industry in China. Total loss to shareholders of 13% over the past three years. Announcement • Sep 30
Cosonic Intelligent Technologies Co., Ltd. to Report Q3, 2024 Results on Oct 30, 2024 Cosonic Intelligent Technologies Co., Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥13.39, the stock trades at a trailing P/E ratio of 38.9x. Average trailing P/E is 18x in the Consumer Durables industry in China. Total loss to shareholders of 11% over the past three years. Announcement • Jul 26
Cosonic Intelligent Technologies Co., Ltd. (SZSE:300793) signed a letter of intent to acquire 51% stake in Dongguan Jiachao Metal Technology Co., Ltd. from Liyang Ruiyuan Investment Co., Ltd., Jian Weimin, He Jianguo, Liao Yongjun and Li Xiuyan for approximately CNY 230 million. Cosonic Intelligent Technologies Co., Ltd. (SZSE:300793) signed a letter of intent to acquire 51% stake in Dongguan Jiachao Metal Technology Co., Ltd. from Liyang Ruiyuan Investment Co., Ltd., Jian Weimin, He Jianguo, Liao Yongjun and Li Xiuyan for approximately CNY 230 million on July 25, 2024. A cash consideration of CNY 91.8 million will be paid by Cosonic Intelligent Technologies Co., Ltd. The remaining price will be paid when all delivery procedures such as industrial and commercial equity change registration are completed and the buyer receives all delivery documents. The next phases of the transaction price of CNY 45.9 million each, which will be paid when the target company completes the promised main business income and non-net profit in 2025, 2026 and 2027. In case of breach of contract, sellers will pay a termination fee of CNY 10 million. The transaction is subject to approval by subject to the signing of a formal equity transfer agreement, approval by the Cosonic Intelligent's board of directors and / or shareholders’ meeting and due diligence on the target Dongguan Jiachao's legal, business, financial and other aspects. The acquisition was approved by all decision-making and approval agencies. Announcement • Jun 29
Cosonic Intelligent Technologies Co., Ltd. to Report First Half, 2024 Results on Aug 30, 2024 Cosonic Intelligent Technologies Co., Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Declared Dividend • May 24
Dividend of CN¥0.15 announced Dividend of CN¥0.15 is the same as last year. Ex-date: 29th May 2024 Payment date: 29th May 2024 Dividend yield will be 1.2%, which is lower than the industry average of 3.7%. Sustainability & Growth Dividend is covered by earnings (46% 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 46 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 49% to shift the payout ratio to a potentially unsustainable range, which is more than the 8.9% EPS decline seen over the last 5 years. Announcement • Apr 27
Cosonic Intelligent Technologies Co., Ltd. Proposes Final Dividend for the Year 2023 Cosonic Intelligent Technologies Co., Ltd. announced on 25 April 2024 the final profit distribution proposal for 2023 as follows: Cash dividend/10 shares (tax included): CNY 1.50000000. Announcement • Apr 26
Cosonic Intelligent Technologies Co., Ltd., Annual General Meeting, May 17, 2024 Cosonic Intelligent Technologies Co., Ltd., Annual General Meeting, May 17, 2024, at 15:00 China Standard Time. Location: The Company's Meeting Room, Dongguan, Guangdong China Reported Earnings • Apr 25
Full year 2023 earnings released: EPS: CN¥0.39 (vs CN¥0.51 in FY 2022) Full year 2023 results: EPS: CN¥0.39 (down from CN¥0.51 in FY 2022). Revenue: CN¥2.38b (up 9.4% from FY 2022). Net income: CN¥132.6m (down 24% from FY 2022). Profit margin: 5.6% (down from 8.0% in FY 2022). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Mar 30
Cosonic Intelligent Technologies Co., Ltd. to Report Q1, 2024 Results on Apr 29, 2024 Cosonic Intelligent Technologies Co., Ltd. announced that they will report Q1, 2024 results on Apr 29, 2024 Announcement • Mar 01
Cosonic Intelligent Technologies Co., Ltd. (SZSE:300793) announces an Equity Buyback for CNY 80 million worth of its shares. Cosonic Intelligent Technologies Co., Ltd. (SZSE:300793) announces a share repurchase program. Under the program, the company will repurchase up to CNY 80 million worth of its A shares. The shares will be repurchased at a price not more than CNY 22 per share. The repurchases will be funded from own funds. The repurchased share will be used for employee stock ownership plan and equity incentives. The program will be valid for a period of 12 months. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥14.55, the stock trades at a trailing P/E ratio of 28.3x. Average trailing P/E is 21x in the Consumer Durables industry in China. Total loss to shareholders of 10% over the past three years. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥12.71, the stock trades at a trailing P/E ratio of 24.7x. Average trailing P/E is 19x in the Consumer Durables industry in China. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥16.29, the stock trades at a trailing P/E ratio of 31.7x. Average trailing P/E is 23x in the Consumer Durables industry in China. Total loss to shareholders of 2.8% over the past three years. Announcement • Dec 30
Cosonic Intelligent Technologies Co., Ltd. to Report Fiscal Year 2023 Results on Apr 25, 2024 Cosonic Intelligent Technologies Co., Ltd. announced that they will report fiscal year 2023 results on Apr 25, 2024 New Risk • Dec 01
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 5.9% 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 High level of non-cash earnings (20% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.9% average weekly change). New Risk • Oct 25
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 20% 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 Risk High level of non-cash earnings (20% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Announcement • Sep 30
Cosonic Intelligent Technologies Co., Ltd. to Report Q3, 2023 Results on Oct 25, 2023 Cosonic Intelligent Technologies Co., Ltd. announced that they will report Q3, 2023 results on Oct 25, 2023 Announcement • Aug 30
Cosonic Intelligent Technologies Co., Ltd. (SZSE:300793) acquired additional 11% stake in Zhongchuang Guangtong Technology Co., Ltd. from Qi Yue for CNY 0. Cosonic Intelligent Technologies Co., Ltd. (SZSE:300793) acquired additional 11% stake in Zhongchuang Guangtong Technology Co., Ltd. from Qi Yue for CNY 0 effective August 28, 2023. Reported Earnings • Aug 28
Second quarter 2023 earnings released: EPS: CN¥0.17 (vs CN¥0.16 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.17 (up from CN¥0.16 in 2Q 2022). Revenue: CN¥655.6m (up 2.7% from 2Q 2022). Net income: CN¥60.5m (up 11% from 2Q 2022). Profit margin: 9.2% (up from 8.5% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Buying Opportunity • Aug 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.8%. The fair value is estimated to be CN¥22.54, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 9.1%. Valuation Update With 7 Day Price Move • May 30
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to CN¥23.56, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 15x in the Consumer Durables industry in China. Total loss to shareholders of 2.3% over the past three years. Announcement • May 20
Cosonic Intelligent Technologies Co., Ltd. Approves Cash Dividend for the Year 2022 Cosonic Intelligent Technologies Co., Ltd. approved cash dividend of CNY 1.500 (tax included) per 10 shares for the year 2022, at the AGM held on May 18, 2023. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Director & General Manager Weiqun Xiao was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 29
Third quarter 2022 earnings released: EPS: CN¥0.24 (vs CN¥0.16 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.24 (up from CN¥0.16 in 3Q 2021). Revenue: CN¥700.4m (down 15% from 3Q 2021). Net income: CN¥80.9m (up 85% from 3Q 2021). Profit margin: 12% (up from 5.3% in 3Q 2021). The increase in margin was driven by lower expenses. Reported Earnings • Aug 24
Second quarter 2022 earnings released: EPS: CN¥0.16 (vs CN¥0.19 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.16. Revenue: CN¥638.4m (down 15% from 2Q 2021). Net income: CN¥54.5m (up 3.2% from 2Q 2021). Profit margin: 8.5% (up from 7.1% in 2Q 2021). The increase in margin was driven by lower expenses. Reported Earnings • Apr 27
Full year 2021 earnings released: EPS: CN¥0.19 (vs CN¥0.26 in FY 2020) Full year 2021 results: EPS: CN¥0.19 (down from CN¥0.26 in FY 2020). Revenue: CN¥2.73b (up 3.0% from FY 2020). Net income: CN¥52.5m (down 23% from FY 2020). Profit margin: 1.9% (down from 2.6% in FY 2020). Over the next year, revenue is forecast to grow 63%, compared to a 14% growth forecast for the industry in China. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥17.47, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 14x in the Consumer Durables industry in China. Total returns to shareholders of 15% over the past year. Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥21.60, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 18x in the Consumer Durables industry in China. Total returns to shareholders of 16% over the past year. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.16 (vs CN¥0.15 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: CN¥822.5m (down 12% from 3Q 2020). Net income: CN¥43.6m (up 9.2% from 3Q 2020). Profit margin: 5.3% (up from 4.3% in 3Q 2020). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥17.70, the stock trades at a trailing P/E ratio of 51.3x. Average trailing P/E is 26x in the Consumer Durables industry in China. Total loss to shareholders of 36% over the past year. Reported Earnings • Aug 28
Second quarter 2021 earnings released: EPS CN¥0.19 (vs CN¥0.095 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥748.5m (up 79% from 2Q 2020). Net income: CN¥52.8m (up 120% from 2Q 2020). Profit margin: 7.1% (up from 5.7% in 2Q 2020). Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improved over the past week After last week's 25% share price gain to CN¥17.60, the stock trades at a trailing P/E ratio of 73.4x. Average trailing P/E is 26x in the Consumer Durables industry in China. Total loss to shareholders of 29% over the past year. Reported Earnings • Apr 20
Full year 2020 earnings released: EPS CN¥0.26 (vs CN¥0.57 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: CN¥2.65b (up 18% from FY 2019). Net income: CN¥68.2m (down 44% from FY 2019). Profit margin: 2.6% (down from 5.3% in FY 2019). The decrease in margin was driven by higher expenses. Is New 90 Day High Low • Feb 04
New 90-day low: CN¥15.72 The company is down 25% from its price of CN¥21.10 on 06 November 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 9.0% over the same period. Is New 90 Day High Low • Jan 13
New 90-day low: CN¥16.51 The company is down 26% from its price of CN¥22.31 on 16 October 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 20% over the same period. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥18.59, the stock is trading at a trailing P/E ratio of 74.2x, down from the previous P/E ratio of 89.5x. This compares to an average P/E of 33x in the Consumer Durables industry in China. Total return to shareholders over the past year is a loss of 38%. Is New 90 Day High Low • Dec 24
New 90-day low: CN¥19.73 The company is down 14% from its price of CN¥23.02 on 25 September 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 15% over the same period. Is New 90 Day High Low • Oct 29
New 90-day low: CN¥22.04 The company is down 24% from its price of CN¥28.99 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 Consumer Durables industry, which is up 6.0% over the same period. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥79.6m, down 38% from the prior year. Total revenue was CN¥2.30b over the last 12 months, up 18% from the prior year. Is New 90 Day High Low • Sep 22
New 90-day low: CN¥24.05 The company is down 7.0% from its price of CN¥25.85 on 24 June 2020. The Chinese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 16% over the same period.