Buy Or Sell Opportunity • Jun 15
Now 21% overvalued Over the last 90 days, the stock has fallen 19% to CN¥15.40. The fair value is estimated to be CN¥12.71, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Earnings per share has grown by 4.2%. New Risk • May 18
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 385% Cash payout ratio: 228% Dividend yield: 9.5% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Announcement • Apr 28
Doctorglasses Chain Co.,Ltd., Annual General Meeting, May 19, 2026 Doctorglasses Chain Co.,Ltd., Annual General Meeting, May 19, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Shenzhen, Guangdong China Reported Earnings • Apr 28
First quarter 2026 earnings released: EPS: CN¥0.18 (vs CN¥0.13 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.18 (up from CN¥0.13 in 1Q 2025). Revenue: CN¥353.2m (up 8.3% from 1Q 2025). Net income: CN¥39.9m (up 32% from 1Q 2025). Profit margin: 11% (up from 9.3% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 9% per year. Announcement • Mar 31
Doctorglasses Chain Co.,Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Doctorglasses Chain Co.,Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥24.67, the stock trades at a trailing P/E ratio of 52.1x. Average trailing P/E is 55x in the Specialty Retail industry in China. Total returns to shareholders of 59% over the past three years. Buy Or Sell Opportunity • Feb 28
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 1.5% to CN¥31.84. The fair value is estimated to be CN¥25.79, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10.0% over the last 3 years. Earnings per share has grown by 3.7%. New Risk • Jan 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 7.1% 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. Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥37.25, the stock trades at a forward P/E ratio of 55x. Average forward P/E is 19x in the Specialty Retail industry in China. Total returns to shareholders of 147% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥23.32 per share. Announcement • Dec 31
Doctorglasses Chain Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 28, 2026 Doctorglasses Chain Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 28, 2026 Buy Or Sell Opportunity • Nov 25
Now 25% overvalued Over the last 90 days, the stock has fallen 19% to CN¥30.35. The fair value is estimated to be CN¥24.37, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10.0% over the last 3 years. Earnings per share has grown by 3.7%. Revenue is forecast to grow by 21% in 2 years. Earnings are forecast to grow by 65% in the next 2 years. Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.14 (vs CN¥0.14 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.14 (up from CN¥0.14 in 3Q 2024). Revenue: CN¥394.1m (up 25% from 3Q 2024). Net income: CN¥31.8m (up 2.2% from 3Q 2024). Profit margin: 8.1% (down from 9.9% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Specialty Retail industry in China. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 30
Doctorglasses Chain Co.,Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Doctorglasses Chain Co.,Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Reported Earnings • Aug 28
Second quarter 2025 earnings released: EPS: CN¥0.12 (vs CN¥0.12 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.12 (down from CN¥0.12 in 2Q 2024). Revenue: CN¥360.2m (up 18% from 2Q 2024). Net income: CN¥25.9m (down 5.5% from 2Q 2024). Profit margin: 7.2% (down from 9.0% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Specialty Retail 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 increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 02
Doctorglasses Chain Co.,Ltd. to Report First Half, 2025 Results on Aug 28, 2025 Doctorglasses Chain Co.,Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to CN¥30.45, the stock trades at a forward P/E ratio of 48x. Average forward P/E is 21x in the Specialty Retail industry in China. Total returns to shareholders of 41% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥25.00 per share. New Risk • Jun 03
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 31% This is considered a major 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: Major Risk Shareholders have been substantially diluted in the past year (31% increase in shares outstanding). 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 (8.9% average weekly change). Buy Or Sell Opportunity • May 02
Now 30% overvalued Over the last 90 days, the stock has fallen 10% to CN¥42.72. The fair value is estimated to be CN¥32.74, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 54% in the next 2 years. Announcement • Apr 29
Doctorglasses Chain Co.,Ltd., Annual General Meeting, May 19, 2025 Doctorglasses Chain Co.,Ltd., Annual General Meeting, May 19, 2025, at 14:30 China Standard Time. Reported Earnings • Apr 15
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.59 (down from CN¥0.74 in FY 2023). Revenue: CN¥1.20b (up 2.3% from FY 2023). Net income: CN¥103.6m (down 19% from FY 2023). Profit margin: 8.6% (down from 11% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 5.2%. Earnings per share (EPS) also missed analyst estimates by 20%. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Medical Equipment industry in China. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to CN¥34.50, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 20x in the Medical Equipment industry in China. Total returns to shareholders of 86% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥17.00 per share. Announcement • Mar 31
Doctorglasses Chain Co.,Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Doctorglasses Chain Co.,Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥43.41, the stock trades at a forward P/E ratio of 51x. Average forward P/E is 20x in the Medical Equipment industry in China. Total returns to shareholders of 148% over the past three years. Announcement • Jan 10
Doctorglasses Chain Co.,Ltd. Announces 3Rd Quarter Profit Distribution Plan to Be Implemented on A Shares for the Year 2024, Payable on 16 January 2025 Doctorglasses Chain Co.,Ltd. Announced 2024 3rd quarter profit distribution plan to be implemented (A shares): Cash dividend/10 shares (tax included): CNY 1.10000000. Record date: 15 January 2025, Ex-date: 16 January 2025, Payment date: 16 January 2025. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥43.96, the stock trades at a forward P/E ratio of 52x. Average forward P/E is 19x in the Medical Equipment industry in China. Total returns to shareholders of 112% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥18.20 per share. Announcement • Jan 02
Doctorglasses Chain Co.,Ltd. Proposes Dividend for Third Quarter of 2024 Doctorglasses Chain Co.,Ltd. proposed Cash dividend/10 shares (tax included) of CNY1.10000000 for third quarter of 2024. Announcement • Dec 31
Doctorglasses Chain Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 25, 2025 Doctorglasses Chain Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 25, 2025 Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to CN¥39.00, the stock trades at a forward P/E ratio of 46x. Average forward P/E is 21x in the Medical Equipment industry in China. Total returns to shareholders of 80% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥18.24 per share. Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥36.06, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 18x in the Medical Equipment industry in China. Total returns to shareholders of 94% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥18.28 per share. Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.18 (vs CN¥0.18 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.18 (in line with 3Q 2023). Revenue: CN¥314.3m (up 2.5% from 3Q 2023). Net income: CN¥31.1m (flat on 3Q 2023). Profit margin: 9.9% (in line with 3Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Medical Equipment industry in China. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 16% per year. New Risk • Oct 17
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.2% 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: Major Risk Share price has been highly volatile over the past 3 months (19% average weekly change). Minor Risks Dividend is not well covered by earnings (117% payout ratio). Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to CN¥23.90, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 19x in the Medical Equipment industry in China. Total returns to shareholders of 8.9% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥17.99 per share. Announcement • Oct 10
Doctorglasses Chain Co.,Ltd. Approves Interim Cash Dividend (A Shares) for 2024, Payable on 15 October, 2024 Doctorglasses Chain Co.,Ltd. approved Cash dividend/10 A shares (tax included): CNY 1.60000000 Record date: 14 October, 2024. Ex-date: 15 October, 2024. Payment date: 15 October, 2024. Announcement • Sep 30
Doctorglasses Chain Co.,Ltd. to Report Q3, 2024 Results on Oct 30, 2024 Doctorglasses Chain Co.,Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Valuation Update With 7 Day Price Move • Sep 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥26.05, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 17x in the Medical Equipment industry in China. Total returns to shareholders of 40% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥17.94 per share. Announcement • Aug 30
Doctorglasses Chain Co.,Ltd. Proposes Profit Distribution for the First Half of 2024 Doctorglasses Chain Co.,Ltd. announced on 29 August 2024 the profit distribution proposal for the first half of 2024 as follows: Cash dividend per 10 shares (tax included): CNY 1.60000000. Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: CN¥0.16 (vs CN¥0.17 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.16 (down from CN¥0.17 in 2Q 2023). Revenue: CN¥305.0m (up 5.5% from 2Q 2023). Net income: CN¥27.3m (down 6.6% from 2Q 2023). Profit margin: 9.0% (down from 10% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Medical Equipment industry in China. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 12% per year. Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment improves as stock rises 39% After last week's 39% share price gain to CN¥30.43, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 17x in the Medical Equipment industry in China. Total returns to shareholders of 62% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥22.52 per share. Buy Or Sell Opportunity • Jul 31
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.2% to CN¥15.31. The fair value is estimated to be CN¥19.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 7.3%. Revenue is forecast to grow by 42% in 2 years. Earnings are forecast to grow by 67% in the next 2 years. New Risk • Jul 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 8.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (91% payout ratio). Share price has been volatile over the past 3 months (8.0% average weekly change). Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥13.15, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 18x in the Medical Equipment industry in China. Total loss to shareholders of 32% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥19.49 per share. Announcement • Jun 29
Doctorglasses Chain Co.,Ltd. to Report First Half, 2024 Results on Aug 29, 2024 Doctorglasses Chain Co.,Ltd. announced that they will report first half, 2024 results on Aug 29, 2024 Buy Or Sell Opportunity • May 13
Now 22% undervalued Over the last 90 days, the stock has risen 9.7% to CN¥15.44. The fair value is estimated to be CN¥19.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 7.3%. Revenue is forecast to grow by 56% in 2 years. Earnings are forecast to grow by 81% in the next 2 years. Announcement • Apr 28
Doctorglasses Chain Co.,Ltd., Annual General Meeting, May 22, 2024 Doctorglasses Chain Co.,Ltd., Annual General Meeting, May 22, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Shenzhen, Guangdong China Agenda: To consider 2023 work report of the board of directors; to consider 2023 work report of the supervisory committee; to consider 2023 annual report and its summary; to consider 2023 annual accounts report; to consider 2023 profit distribution plan; to consider Authorization to the board to decide on 2024 interim or annual profit distribution; to consider Appointment of audit firm; to consider Repurchase and cancellation of some restricted stocks under 2021 stock option and restricted stock incentive plan; and to consider Change of the Company's registered capital and amendments to the Company's articles of association. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.14 (vs CN¥0.22 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.14 (down from CN¥0.22 in 1Q 2023). Revenue: CN¥295.9m (down 4.5% from 1Q 2023). Net income: CN¥25.0m (down 33% from 1Q 2023). Profit margin: 8.5% (down from 12% in 1Q 2023). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Medical Equipment industry in China. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. New Risk • Apr 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.0% 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. Shareholders have been diluted in the past year (2.0% increase in shares outstanding). Announcement • Apr 05
Doctorglasses Chain Co.,Ltd. Proposes Final Dividend for the Year 2023 Doctorglasses Chain Co.,Ltd. announced on 03 April 2024 the profit distribution proposal for 2023 as follows: Cash dividend/10 shares (tax included): CNY6.00000000. Reported Earnings • Apr 03
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: CN¥0.74 (up from CN¥0.44 in FY 2022). Revenue: CN¥1.18b (up 22% from FY 2022). Net income: CN¥128.1m (up 70% from FY 2022). Profit margin: 11% (up from 7.8% in FY 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.2%. Earnings per share (EPS) exceeded analyst estimates by 2.8%. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Medical Equipment 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 1% per year, which means it is significantly lagging earnings. Announcement • Mar 30
Doctorglasses Chain Co.,Ltd. to Report Q1, 2024 Results on Apr 26, 2024 Doctorglasses Chain Co.,Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Announcement • Feb 28
Doctorglasses Chain Co.,Ltd. Approves Management Appointments Doctorglasses Chain Co.,Ltd. at its Extraordinary General Meeting held on 26 February 2024, approved election of He Qingbai, Zheng Qingqiu and Xia Weiqi as non-independent director; election of Lan Jia and Liao Suhua as independent directors; Yang Xiaomin and Yan Han as non-employee supervisors. New Risk • Feb 05
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 6.7% 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 (6.7% average weekly change). Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥15.20, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 20x in the Medical Equipment industry in China. Total returns to shareholders of 5.6% over the past three years. Announcement • Dec 29
Doctorglasses Chain Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 03, 2024 Doctorglasses Chain Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 03, 2024 Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: CN¥0.18 (vs CN¥0.15 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.18 (up from CN¥0.15 in 3Q 2022). Revenue: CN¥306.5m (up 12% from 3Q 2022). Net income: CN¥31.0m (up 9.6% from 3Q 2022). Profit margin: 10% (in line with 3Q 2022). Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Medical Equipment industry in China. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 8% per year. Announcement • Sep 30
Doctorglasses Chain Co.,Ltd. to Report Q3, 2023 Results on Oct 28, 2023 Doctorglasses Chain Co.,Ltd. announced that they will report Q3, 2023 results at 3:00 PM, China Standard Time on Oct 28, 2023 Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: CN¥0.17 (vs CN¥0.081 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.17 (up from CN¥0.081 in 2Q 2022). Revenue: CN¥289.1m (up 23% from 2Q 2022). Net income: CN¥29.3m (up 120% from 2Q 2022). Profit margin: 10% (up from 5.6% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Medical Equipment industry in China. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 17% per year. Announcement • May 27
Doctorglasses Chain Co.,Ltd. Announces 2022 Final Profit Distribution Plan to Be Implemented (A Shares), Payment Date of 02 June 2023 Doctorglasses Chain Co.,Ltd. announced 2022 final profit distribution plan to be implemented (A shares): Cash dividend/10 shares (tax included): CNY 3.00000000. Record date: 01 June 2023, Ex-date: 02 June 2023, Payment date: 02 June 2023. 10% withholding tax on cash dividend will be deducted in CNY within the cash dividend receivable. Please refer to below details: Tax on cash dividend/10 shares: CNY0.30000000(10 % x CNY3.00000000) Net cash dividend/10 shares after tax: CNY2.70000000(CNY3.00000000- CNY0.30000000). Announcement • May 23
Doctorglasses Chain Co.,Ltd. Approves Cash Dividend for 2022 Doctorglasses Chain Co.,Ltd. announced that at the Annual General Meeting of 2022 held on 19 May 2023 approved Cash dividend/10 shares (tax included) of CNY 3.00000000 for 2022. Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: CN¥0.22 (vs CN¥0.04 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.22 (up from CN¥0.04 in 1Q 2022). Revenue: CN¥309.8m (up 40% from 1Q 2022). Net income: CN¥37.3m (up 441% from 1Q 2022). Profit margin: 12% (up from 3.1% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. 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 Ying Wang was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.15 (vs CN¥0.11 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.15 (up from CN¥0.11 in 3Q 2021). Revenue: CN¥273.9m (up 14% from 3Q 2021). Net income: CN¥28.3m (up 42% from 3Q 2021). Profit margin: 10% (up from 8.3% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Medical Equipment 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 only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Aug 30
Doctorglasses Chain Co.,Ltd., Annual General Meeting, Sep 15, 2022 Doctorglasses Chain Co.,Ltd., Annual General Meeting, Sep 15, 2022, at 14:30 China Standard Time. Agenda: To consider amendments to the Company's articles of association and handling the industrial and commercial registration of changes; to consider amendments to the rules of procedure governing the board meetings; to consider amendments to the rules of procedure governing meetings of the supervisory committee; to consider amendments to the rules of procedure governing the shareholders' general meetings; to consider amendments to the external guarantee management system; to consider amendments to the connected transactions management system; to consider amendments to the raised funds management system; to consider amendments to the work system of independent directors; to consider amendments to the external investment management system; and to transact other matters. Reported Earnings • Aug 28
Second quarter 2022 earnings released: EPS: CN¥0.081 (vs CN¥0.14 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.081 (down from CN¥0.14 in 2Q 2021). Revenue: CN¥236.1m (up 7.7% from 2Q 2021). Net income: CN¥13.3m (down 44% from 2Q 2021). Profit margin: 5.6% (down from 11% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 14%, compared to a 26% growth forecast for the Medical Equipment industry in China. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 16% per year. Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥22.00, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 23x in the Medical Equipment industry in China. Total returns to shareholders of 90% over the past three years. Announcement • Jun 09
Doctorglasses Chain Co.,Ltd. Implements Final Profit Distribution Plan for 2021, Payable on June 14, 2022 Doctorglasses Chain Co.,Ltd. announced 2021 final profit distribution plan to be implemented (A shares) as Cash dividend/10 shares (tax included) CNY 5.00000000. Record date is 13 June 2022, Ex-date is 14 June 2022 and Payment date is 14 June 2022. Announcement • May 28
Doctorglasses Chain Co.,Ltd Approves Cash Dividend for 2021 Doctorglasses Chain Co.,Ltd approved cash dividend per 10 shares (tax included) of CNY 5.00000000 for 2021 at its annual general meeting held on 24 May 2022. Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: CN¥0.04 (vs CN¥0.13 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.04 (down from CN¥0.13 in 1Q 2021). Revenue: CN¥221.2m (up 9.2% from 1Q 2021). Net income: CN¥6.89m (down 68% from 1Q 2021). Profit margin: 3.1% (down from 11% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 22% per year. 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. 12 experienced directors. No highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Jian Fang Ye was the last independent director to join the board, commencing their role in 2017. 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 • Apr 03
Full year 2021 earnings released: EPS: CN¥0.55 (vs CN¥0.41 in FY 2020) Full year 2021 results: EPS: CN¥0.55 (up from CN¥0.41 in FY 2020). Revenue: CN¥888.3m (up 35% from FY 2020). Net income: CN¥93.6m (up 35% from FY 2020). Profit margin: 11% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥24.00, the stock trades at a trailing P/E ratio of 37.9x. Average trailing P/E is 40x in the Medical Equipment industry in China. Total returns to shareholders of 196% over the past three years. Reported Earnings • Nov 01
Third quarter 2021 earnings released: EPS CN¥0.11 (vs CN¥0.12 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥240.9m (up 29% from 3Q 2020). Net income: CN¥20.0m (down 3.5% from 3Q 2020). Profit margin: 8.3% (down from 11% 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 25% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥20.35, the stock trades at a trailing P/E ratio of 31.9x. Average trailing P/E is 37x in the Medical Equipment industry in China. Total returns to shareholders of 164% over the past three years. Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS CN¥0.14 (vs CN¥0.052 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥219.2m (up 38% from 2Q 2020). Net income: CN¥23.7m (up 115% from 2Q 2020). Profit margin: 11% (up from 6.9% 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 17% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 21
Doctorglasses Chain Co.,Ltd Plans Final Profit Distribution for A Shares for the Year 2020, Payable on May 25, 2021 Doctorglasses Chain Co.,Ltd announced the 2020 final profit distribution plan to be implemented (A shares) as cash dividend/10 shares (tax included) of CNY 3.50000000. Record date is on May 24, 2021. Ex-date on May 25, 2021. Payment date is on May 25, 2021. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥21.21, the stock trades at a trailing P/E ratio of 36.6x. Average trailing P/E is 37x in the Medical Equipment industry in China. Total returns to shareholders of 81% over the past three years. Reported Earnings • Apr 16
Full year 2020 earnings released: EPS CN¥0.41 (vs CN¥0.37 in FY 2019) The company reported a solid full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: CN¥656.3m (flat on FY 2019). Net income: CN¥69.2m (up 11% from FY 2019). Profit margin: 11% (up from 9.5% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 16
New 90-day high: CN¥16.43 The company is up 10.0% from a price of CN¥14.97 on 16 December 2020. Outperformed the Chinese market which is down 2.0% over the last 90 days. Exceeded the Medical Equipment industry, which is down 9.0% over the same period. Announcement • Mar 04
Doctorglasses Chain Co.,Ltd to Report Fiscal Year 2020 Results on Apr 15, 2021 Doctorglasses Chain Co.,Ltd announced that they will report fiscal year 2020 results on Apr 15, 2021 Is New 90 Day High Low • Jan 13
New 90-day low: CN¥12.70 The company is down 18% from its price of CN¥15.53 on 15 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 Medical Equipment industry, which is down 1.0% over the same period. Is New 90 Day High Low • Dec 29
New 90-day low: CN¥13.76 The company is down 1.0% from its price of CN¥13.90 on 30 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 Medical Equipment industry, which is up 4.0% over the same period. Is New 90 Day High Low • Nov 19
New 90-day high: CN¥17.50 The company is up 42% from its price of CN¥12.32 on 21 August 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is down 7.0% over the same period. Is New 90 Day High Low • Nov 02
New 90-day high: CN¥16.20 The company is up 20% from its price of CN¥13.55 on 04 August 2020. The Chinese market is down 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is down 10.0% 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¥47.6m, down 16% from the prior year. Total revenue was CN¥613.2m over the last 12 months, down 2.8% from the prior year. Is New 90 Day High Low • Oct 15
New 90-day high: CN¥15.53 The company is up 8.0% from its price of CN¥14.43 on 17 July 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 4.0% over the same period. Is New 90 Day High Low • Sep 21
New 90-day high: CN¥15.15 The company is up 21% from its price of CN¥12.55 on 23 June 2020. The Chinese market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 1.0% over the same period. Announcement • Aug 13
Doctorglasses Chain Co.,Ltd to Report First Half, 2020 Results on Aug 28, 2020 Doctorglasses Chain Co.,Ltd announced that they will report first half, 2020 results on Aug 28, 2020 
