Declared Dividend • May 17
Dividend of CN¥7.00 announced Shareholders will receive a dividend of CN¥7.00. Ex-date: 21st May 2026 Payment date: 21st May 2026 Dividend yield will be 5.1%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (70% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased by an average of 19% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 30
G-bits Network Technology (Xiamen) Co., Ltd. to Report Q1, 2026 Results on Apr 24, 2026 G-bits Network Technology (Xiamen) Co., Ltd. announced that they will report Q1, 2026 results on Apr 24, 2026 Price Target Changed • Mar 28
Price target decreased by 8.2% to CN¥502 Down from CN¥546, the current price target is an average from 8 analysts. New target price is 35% above last closing price of CN¥371. Stock is up 69% over the past year. The company is forecast to post earnings per share of CN¥26.73 for next year compared to CN¥24.90 last year. Reported Earnings • Mar 27
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: CN¥24.90 (up from CN¥13.15 in FY 2024). Revenue: CN¥6.20b (up 68% from FY 2024). Net income: CN¥1.79b (up 90% from FY 2024). Profit margin: 29% (up from 26% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 5.4%. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 8% per year, which means it is performing significantly worse than earnings. Announcement • Mar 26
G-bits Network Technology (Xiamen) Co., Ltd., Annual General Meeting, Apr 16, 2026 G-bits Network Technology (Xiamen) Co., Ltd., Annual General Meeting, Apr 16, 2026, at 15:00 China Standard Time. Location: 17F, Building T2, No. 2, Longzhu 4th Road, Nanshan District, Shenzhen, Guangdong China Announcement • Dec 26
G-bits Network Technology (Xiamen) Co., Ltd. to Report Fiscal Year 2025 Results on Mar 27, 2026 G-bits Network Technology (Xiamen) Co., Ltd. announced that they will report fiscal year 2025 results on Mar 27, 2026 Declared Dividend • Nov 24
Dividend of CN¥6.00 announced Shareholders will receive a dividend of CN¥6.00. Ex-date: 28th November 2025 Payment date: 28th November 2025 Dividend yield will be 3.7%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (48% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has increased by an average of 10% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 23% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • Nov 05
Consensus EPS estimates increase by 24% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from CN¥19.83 to CN¥24.60. Revenue forecast steady at CN¥5.47b. Net income forecast to grow 13% next year vs 93% growth forecast for Entertainment industry in China. Consensus price target broadly unchanged at CN¥517. Share price fell 7.7% to CN¥465 over the past week. Reported Earnings • Oct 29
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: CN¥7.90 (up from CN¥1.93 in 3Q 2024). Revenue: CN¥1.97b (up 129% from 3Q 2024). Net income: CN¥569.5m (up 308% from 3Q 2024). Profit margin: 29% (up from 16% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 38%. Earnings per share (EPS) also surpassed analyst estimates by 59%. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Price Target Changed • Oct 16
Price target increased by 8.1% to CN¥512 Up from CN¥474, the current price target is an average from 8 analysts. New target price is 8.9% above last closing price of CN¥471. Stock is up 110% over the past year. The company is forecast to post earnings per share of CN¥19.79 for next year compared to CN¥13.15 last year. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥472, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 28x in the Entertainment industry in China. Total returns to shareholders of 119% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥476 per share. Announcement • Sep 30
G-bits Network Technology (Xiamen) Co., Ltd. to Report Q3, 2025 Results on Oct 29, 2025 G-bits Network Technology (Xiamen) Co., Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 Buy Or Sell Opportunity • Sep 23
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 106% to CN¥579. The fair value is estimated to be CN¥473, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 14%. Revenue is forecast to grow by 41% in 2 years. Earnings are forecast to grow by 57% in the next 2 years. Declared Dividend • Sep 15
Dividend of CN¥6.60 announced Shareholders will receive a dividend of CN¥6.60. Ex-date: 19th September 2025 Payment date: 19th September 2025 Dividend yield will be 2.2%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (81% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 12% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 63% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥532, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 31x in the Entertainment industry in China. Total returns to shareholders of 110% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥465 per share. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥459, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 30x in the Entertainment industry in China. Total returns to shareholders of 85% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥315 per share. Price Target Changed • Aug 21
Price target increased by 13% to CN¥334 Up from CN¥295, the current price target is an average from 8 analysts. New target price is 25% below last closing price of CN¥443. Stock is up 152% over the past year. The company is forecast to post earnings per share of CN¥21.56 for next year compared to CN¥13.15 last year. Reported Earnings • Aug 20
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: CN¥5.02 (up from CN¥3.66 in 2Q 2024). Revenue: CN¥1.38b (up 34% from 2Q 2024). Net income: CN¥361.4m (up 37% from 2Q 2024). Profit margin: 26% (in line with 2Q 2024). Revenue exceeded analyst estimates by 34%. Earnings per share (EPS) also surpassed analyst estimates by 35%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Aug 20
Now 28% overvalued after recent price rise Over the last 90 days, the stock has risen 75% to CN¥421. The fair value is estimated to be CN¥330, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 16%. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥395, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 29x in the Entertainment industry in China. Total returns to shareholders of 34% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥364 per share. Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥323, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 25x in the Entertainment industry in China. Total loss to shareholders of 2.8% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥361 per share. Announcement • Jun 30
G-bits Network Technology (Xiamen) Co., Ltd. to Report First Half, 2025 Results on Aug 20, 2025 G-bits Network Technology (Xiamen) Co., Ltd. announced that they will report first half, 2025 results on Aug 20, 2025 Price Target Changed • Jun 25
Price target increased by 8.5% to CN¥267 Up from CN¥246, the current price target is an average from 8 analysts. New target price is 5.2% below last closing price of CN¥281. Stock is up 53% over the past year. The company is forecast to post earnings per share of CN¥14.58 for next year compared to CN¥13.15 last year. Buy Or Sell Opportunity • Jun 23
Now 21% undervalued Over the last 90 days, the stock has risen 27% to CN¥279. The fair value is estimated to be CN¥351, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 15%. Revenue is forecast to grow by 19% in 2 years. Earnings are forecast to grow by 19% in the next 2 years. Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥270, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 26x in the Entertainment industry in China. Total loss to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥351 per share. Upcoming Dividend • May 19
Upcoming dividend of CN¥3.50 per share Eligible shareholders must have bought the stock before 26 May 2025. Payment date: 26 May 2025. Payout ratio is a comfortable 74% and this is well supported by cash flows. Trailing yield: 4.2%. Within top quartile of Chinese dividend payers (2.2%). Higher than average of industry peers (2.1%). Announcement • Mar 28
G-bits Network Technology (Xiamen) Co., Ltd. to Report Q1, 2025 Results on Apr 24, 2025 G-bits Network Technology (Xiamen) Co., Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025 Reported Earnings • Mar 28
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: CN¥13.15 (down from CN¥15.63 in FY 2023). Revenue: CN¥3.70b (down 12% from FY 2023). Net income: CN¥944.9m (down 16% from FY 2023). Profit margin: 26% (down from 27% in FY 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.8%. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 17% per year. Buy Or Sell Opportunity • Mar 28
Now 21% overvalued Over the last 90 days, the stock has fallen 2.0% to CN¥220. The fair value is estimated to be CN¥182, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.7% over the last 3 years. Earnings per share has declined by 15%. For the next 3 years, revenue is forecast to grow by 9.9% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Announcement • Mar 28
G-bits Network Technology (Xiamen) Co., Ltd., Annual General Meeting, Apr 17, 2025 G-bits Network Technology (Xiamen) Co., Ltd., Annual General Meeting, Apr 17, 2025, at 15:00 China Standard Time. Location: 1F, No. 4, Wanghai Road, Software Park Phase II, Siming District, Xiamen, Fujian China Board Change • Feb 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. 5 experienced directors. 3 highly experienced directors. Independent Director Hui Fang Bao was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Dec 27
G-bits Network Technology (Xiamen) Co., Ltd. to Report Fiscal Year 2024 Results on Mar 28, 2025 G-bits Network Technology (Xiamen) Co., Ltd. announced that they will report fiscal year 2024 results on Mar 28, 2025 Major Estimate Revision • Oct 31
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥3.96b to CN¥3.68b. EPS estimate also fell from CN¥14.34 per share to CN¥12.38 per share. Net income forecast to grow 19% next year vs 88% growth forecast for Entertainment industry in China. Consensus price target broadly unchanged at CN¥238. Share price fell 7.2% to CN¥204 over the past week. Reported Earnings • Oct 25
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: CN¥1.93 (down from CN¥2.54 in 3Q 2023). Revenue: CN¥858.6m (down 10% from 3Q 2023). Net income: CN¥139.7m (down 24% from 3Q 2023). Profit margin: 16% (down from 19% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 7.5%. Earnings per share (EPS) also missed analyst estimates by 40%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 15% per year. New Risk • Sep 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 7.2% 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 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 (7.2% average weekly change). Announcement • Sep 30
G-bits Network Technology (Xiamen) Co., Ltd. to Report Q3, 2024 Results on Oct 25, 2024 G-bits Network Technology (Xiamen) Co., Ltd. announced that they will report Q3, 2024 results on Oct 25, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥244, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 22x in the Entertainment industry in China. Total loss to shareholders of 28% over the past three years. Reported Earnings • Aug 19
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: CN¥3.66 (down from CN¥5.13 in 2Q 2023). Revenue: CN¥1.03b (down 14% from 2Q 2023). Net income: CN¥264.5m (down 28% from 2Q 2023). Profit margin: 26% (down from 31% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 21%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥185, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 18x in the Entertainment industry in China. Total loss to shareholders of 51% over the past three years. Announcement • Jun 28
G-bits Network Technology (Xiamen) Co., Ltd. to Report First Half, 2024 Results on Aug 16, 2024 G-bits Network Technology (Xiamen) Co., Ltd. announced that they will report first half, 2024 results on Aug 16, 2024 Price Target Changed • Apr 25
Price target decreased by 9.1% to CN¥243 Down from CN¥267, the current price target is an average from 9 analysts. New target price is 38% above last closing price of CN¥177. Stock is down 65% over the past year. The company is forecast to post earnings per share of CN¥14.22 for next year compared to CN¥15.63 last year. Major Estimate Revision • Apr 04
Consensus revenue estimates fall by 17% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥5.10b to CN¥4.24b. EPS estimate fell from CN¥20.33 to CN¥15.70 per share. Net income forecast to grow 0.01% next year vs 50% growth forecast for Entertainment industry in China. Consensus price target down from CN¥336 to CN¥279. Share price fell 6.0% to CN¥185 over the past week. Price Target Changed • Mar 31
Price target decreased by 11% to CN¥299 Down from CN¥336, the current price target is an average from 9 analysts. New target price is 57% above last closing price of CN¥191. Stock is down 60% over the past year. The company is forecast to post earnings per share of CN¥16.11 for next year compared to CN¥15.63 last year. Reported Earnings • Mar 30
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥15.63 (down from CN¥20.33 in FY 2022). Revenue: CN¥4.18b (down 19% from FY 2022). Net income: CN¥1.13b (down 23% from FY 2022). Profit margin: 27% (down from 28% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 7.6%. Earnings per share (EPS) also missed analyst estimates by 6.2%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Entertainment 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 20% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥190, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 23x in the Entertainment industry in China. Total loss to shareholders of 41% over the past three years. Announcement • Dec 30
G-bits Network Technology (Xiamen) Co., Ltd. to Report Fiscal Year 2023 Results on Mar 29, 2024 G-bits Network Technology (Xiamen) Co., Ltd. announced that they will report fiscal year 2023 results on Mar 29, 2024 Announcement • Dec 29
G-bits Network Technology (Xiamen) Co., Ltd. (SHSE:603444) announces an Equity Buyback for CNY 100 million worth of its shares. G-bits Network Technology (Xiamen) Co., Ltd. (SHSE:603444) 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 repurchased at a price no more than CNY 390 per share. The price shall not be higher than 150% of the average trading price of the company's stock in the 30 trading days before the company's board of directors passes the repurchase resolution. The repurchased shares will be used for employee stock ownership plan and/or equity incentive. Repurchases will be funded using company’s own funds. The program is valid for 12 months. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥266, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 17x in the Entertainment industry in China. Total loss to shareholders of 36% over the past three years. New Risk • Oct 26
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 6.3% 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: 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 (6.3% average weekly change). Price Target Changed • Oct 26
Price target decreased by 8.0% to CN¥438 Down from CN¥476, the current price target is an average from 10 analysts. New target price is 65% above last closing price of CN¥266. Stock is up 0.3% over the past year. The company is forecast to post earnings per share of CN¥16.11 for next year compared to CN¥20.33 last year. Reported Earnings • Oct 25
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: CN¥2.54 (down from CN¥4.50 in 3Q 2022). Revenue: CN¥957.8m (down 27% from 3Q 2022). Net income: CN¥183.3m (down 43% from 3Q 2022). Profit margin: 19% (down from 25% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates by 47%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Announcement • Sep 30
G-bits Network Technology (Xiamen) Co., Ltd. to Report Q3, 2023 Results on Oct 25, 2023 G-bits Network Technology (Xiamen) Co., Ltd. announced that they will report Q3, 2023 results on Oct 25, 2023 New Risk • Aug 24
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 6.2% 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 earnings (119% payout ratio). Share price has been volatile over the past 3 months (6.2% average weekly change). Price Target Changed • Aug 18
Price target decreased by 7.8% to CN¥548 Down from CN¥594, the current price target is an average from 8 analysts. New target price is 40% above last closing price of CN¥390. Stock is up 30% over the past year. The company is forecast to post earnings per share of CN¥20.28 for next year compared to CN¥20.33 last year. Major Estimate Revision • Aug 16
Consensus revenue estimates decrease by 10% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from CN¥5.78b to CN¥5.18b. EPS estimate unchanged from CN¥22.73 per share at last update. Entertainment industry in China expected to see average net income growth of 42% next year. Consensus price target broadly unchanged at CN¥588. Share price fell 8.4% to CN¥410 over the past week. Announcement • Jun 28
G-bits Network Technology (Xiamen) Co., Ltd. to Report First Half, 2023 Results on Aug 16, 2023 G-bits Network Technology (Xiamen) Co., Ltd. announced that they will report first half, 2023 results on Aug 16, 2023 Valuation Update With 7 Day Price Move • May 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥528, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 24x in the Entertainment industry in China. Total returns to shareholders of 42% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥474 per share. Price Target Changed • May 19
Price target increased by 7.4% to CN¥558 Up from CN¥519, the current price target is an average from 8 analysts. New target price is 20% above last closing price of CN¥464. Stock is up 46% over the past year. The company is forecast to post earnings per share of CN¥22.91 for next year compared to CN¥20.33 last year. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to CN¥542, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 26x in the Entertainment industry in China. Total returns to shareholders of 55% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥473 per share. Price Target Changed • Apr 03
Price target increased by 9.1% to CN¥439 Up from CN¥402, the current price target is an average from 7 analysts. New target price is 16% below last closing price of CN¥524. Stock is up 36% over the past year. The company is forecast to post earnings per share of CN¥23.26 for next year compared to CN¥20.33 last year. Reported Earnings • Apr 01
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: CN¥20.33 (down from CN¥20.43 in FY 2021). Revenue: CN¥5.17b (up 12% from FY 2021). Net income: CN¥1.46b (flat on FY 2021). Profit margin: 28% (down from 32% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 2.8%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 31
Price target increased by 10% to CN¥421 Up from CN¥381, the current price target is an average from 7 analysts. New target price is 12% below last closing price of CN¥477. Stock is up 24% over the past year. The company is forecast to post earnings per share of CN¥19.78 for next year compared to CN¥20.43 last year. Buying Opportunity • Mar 28
Now 20% undervalued Over the last 90 days, the stock is up 36%. The fair value is estimated to be CN¥545, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 31% in 2 years. Earnings is forecast to grow by 46% in the next 2 years. Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥363, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the Entertainment industry in China. Total returns to shareholders of 12% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥725 per share. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Hui Fang Bao was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Nov 10
Price target decreased to CN¥383 Down from CN¥416, the current price target is an average from 7 analysts. New target price is 29% above last closing price of CN¥297. Stock is down 19% over the past year. The company is forecast to post earnings per share of CN¥20.56 for next year compared to CN¥20.43 last year. Reported Earnings • Oct 27
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: EPS: CN¥4.50 (up from CN¥4.23 in 3Q 2021). Revenue: CN¥1.32b (up 20% from 3Q 2021). Net income: CN¥323.4m (up 6.1% from 3Q 2021). Profit margin: 25% (down from 28% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 20%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Aug 18
Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2022 results: EPS: CN¥4.71 (down from CN¥7.46 in 2Q 2021). Revenue: CN¥1.28b (flat on 2Q 2021). Net income: CN¥338.7m (down 37% from 2Q 2021). Profit margin: 26% (down from 42% in 2Q 2021). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 14%. Over the next year, revenue is forecast to grow 19%, compared to a 22% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
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. 10 experienced directors. No highly experienced directors. 3 independent directors (4 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: Minority of independent directors. Insufficient board refreshment. Major Estimate Revision • Apr 14
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥5.45b to CN¥5.27b. EPS estimate also fell from CN¥25.77 per share to CN¥23.10 per share. Net income forecast to grow 13% next year vs 26% growth forecast for Entertainment industry in China. Consensus price target down from CN¥526 to CN¥511. Share price fell 7.8% to CN¥344 over the past week. Reported Earnings • Apr 08
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥20.43 (up from CN¥14.58 in FY 2020). Revenue: CN¥4.62b (up 68% from FY 2020). Net income: CN¥1.47b (up 40% from FY 2020). Profit margin: 32% (down from 38% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 8.2%. Over the next year, revenue is forecast to grow 18%, compared to a 27% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥349, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 17x in the Entertainment industry in China. Total returns to shareholders of 88% over the past three years. Reported Earnings • Oct 23
Third quarter 2021 earnings released: EPS CN¥4.23 (vs CN¥3.40 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: CN¥1.10b (up 71% from 3Q 2020). Net income: CN¥304.7m (up 25% from 3Q 2020). Profit margin: 28% (down from 38% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS CN¥7.46 (vs CN¥3.17 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥1.27b (up 90% from 2Q 2020). Net income: CN¥535.6m (up 135% from 2Q 2020). Profit margin: 42% (up from 34% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥437, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 15x in the Entertainment industry in China. Total returns to shareholders of 293% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥615 per share. Price Target Changed • Jun 24
Price target increased to CN¥584 Up from CN¥536, the current price target is an average from 10 analysts. New target price is 8.8% above last closing price of CN¥537. Stock is up 2.4% over the past year. Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥544, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 16x in the Entertainment industry in China. Total returns to shareholders of 307% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥599 per share. Price Target Changed • May 04
Price target increased to CN¥493 Up from CN¥456, the current price target is an average from 10 analysts. New target price is 7.7% above last closing price of CN¥458. Stock is up 21% over the past year. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥454, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 15x in the Entertainment industry in China. Total returns to shareholders of 227% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥503 per share. Reported Earnings • Apr 25
First quarter 2021 earnings released: EPS CN¥5.08 (vs CN¥4.50 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: CN¥1.12b (up 51% from 1Q 2020). Net income: CN¥365.2m (up 13% from 1Q 2020). Profit margin: 33% (down from 44% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Apr 07
Price target decreased to CN¥456 Down from CN¥501, the current price target is an average from 10 analysts. New target price is 21% above last closing price of CN¥377. Stock is down 11% over the past year. Reported Earnings • Apr 02
Full year 2020 earnings released: EPS CN¥14.58 (vs CN¥11.28 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¥2.74b (up 26% from FY 2019). Net income: CN¥1.05b (up 29% from FY 2019). Profit margin: 38% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥376, the stock is trading at a trailing P/E ratio of 28.9x, up from the previous P/E ratio of 24x. This compares to an average P/E of 34x in the Entertainment industry in China. Total returns to shareholders over the past three years are 143%. Price Target Changed • Feb 06
Price target lowered to CN¥519 Down from CN¥560, the current price target is an average from 9 analysts. The new target price is 55% above the current share price of CN¥334. As of last close, the stock is down 19% over the past year. Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment deteriorated over the past week After last week's 25% share price decline to CN¥330, the stock is trading at a trailing P/E ratio of 25.4x, down from the previous P/E ratio of 33.7x. This compares to an average P/E of 35x in the Entertainment industry in China. Total returns to shareholders over the past three years are 68%. Is New 90 Day High Low • Jan 11
New 90-day low: CN¥330 The company is down 45% from its price of CN¥604 on 13 October 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥368 per share.