Announcement • May 23
Aiko Signs Module Supply Agreement with Infinity Power for Nefer Benban Solar Photovoltaic Project AIKO announced that it has signed a module supply agreement with Infinity Power to equip the 259 MW Nefer Benban solar photovoltaic project, located in Egypt's Benban solar complex in Aswan Governorate. Nefer Benban will deliver 259 MW of solar PV capacity integrated with 120 MWh of battery energy storage. Once operational, it is expected to supply electricity to approximately 311,000 homes and avoid around 349,000 tonnes of CO2 emissions annually. Situated in one of the world's harshest solar environments, the project features an average annual temperature of 34°C and solar irradiation of 1,620 kWh/m². These extreme operating conditions demand high-performance and highly durable solar modules. AIKO's All-Back-Contact (ABC) technology has been selected to meet these rigorous requirements while supporting an accelerated project timeline, with all modules to be delivered within one month from the signing of the agreement. The project is scheduled to be connected to the grid by the Fourth Quarter of 2026. Infinity Power's core objectives for the project centered on lowering LCOE, maximizing IRR, and operating within a constrained CAPEX framework. AIKO's ABC modules, AIKO-A-GRH-66Dw (2382×1134×30mm), address these requirements directly. With 24.2% module efficiency and power output of 650/655Wp, the modules deliver 20W more than leading TOPCon products in the same area, at no additional cost per watt. This allows Infinity to increase energy output without additional land or mounting structure costs. The performance advantages are reinforced by AIKO's industry-leading degradation rates: first-year degradation =1%, and annual degradation from year 2 to 30 at 0.35%. Combined with a 15-year product warranty and a 30-year power warranty, these characteristics ensure long-term reliability and sustained energy output. The modules are expected to generate 471.6 GWh of annual electricity, translating into total lifecycle revenue of USD 566 million. Key economic benefits compared with conventional TOPCon modules under the same land area: Installed capacity increase: 4.0%, Lifecycle energy gain: 5.8%, Per-watt BOS cost reduction: 4.0%, LCOE reduction: 3.7%, IRR improvement: 1.6%. Reported Earnings • Apr 29
First quarter 2026 earnings released: CN¥0.21 loss per share (vs CN¥0.16 loss in 1Q 2025) First quarter 2026 results: CN¥0.21 loss per share (further deteriorated from CN¥0.16 loss in 1Q 2025). Revenue: CN¥4.44b (up 7.3% from 1Q 2025). Net loss: CN¥439.7m (loss widened 46% from 1Q 2025). Revenue is forecast to grow 45% p.a. on average during the next 2 years, compared to a 28% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Announcement • Apr 28
Shanghai Aiko Solar Energy Co.,Ltd., Annual General Meeting, May 20, 2026 Shanghai Aiko Solar Energy Co.,Ltd., Annual General Meeting, May 20, 2026, at 13:30 China Standard Time. Location: No. 100, Xingfu Lake Road, Houzhai Subdistrict, Yiwu, Zhejiang China Announcement • Mar 30
Shanghai Aiko Solar Energy Co.,Ltd. to Report Q1, 2026 Results on Apr 27, 2026 Shanghai Aiko Solar Energy Co.,Ltd. announced that they will report Q1, 2026 results on Apr 27, 2026 Announcement • Dec 26
Shanghai Aiko Solar Energy Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 27, 2026 Shanghai Aiko Solar Energy Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 27, 2026 Announcement • Dec 15
Maxeon Solar Technologies Ltd. Expands Patent Infringement Actions Against Aiko Solar, Wattkraft GmbH & Co. KG, DWH Solutions GmbH, Memodo GmbH, and Tepto GmbH Maxeon Solar Technologies Ltd. announced that it has filed a new patent infringement lawsuit against Aiko Solar before the Munich Regional Court I in Germany. The lawsuit accuses Aiko and its European distribution network of infringing Maxeon's core back contact (BC) solar technology patent EP2297789B1 (referred to as "EP789"), specifically addressing Aiko's second-generation (Gen 2) and third-generation (Gen 3) BC solar module products currently sold in the European market. This lawsuit follows Maxeon's previous intellectual property protection actions against Aiko and its sales channel, including a 2023 complaint filed before the Mannheim Regional Court concerning infringement of Maxeon patent EP2297788, and a 2024 complaint before the Unified Patent Court (UPC) Local Division in Düsseldorf regarding infringement of Maxeon patent EP3065184. All three patents belong to the same BC solar technology family. Maxeon is seeking a court order for Aiko and the other defendants to refrain from infringing activities (i.e., a permanent injunction), disclose sales data for the accused products, and compensate for damages. Maxeon also seeks the destruction of infringing inventory held in Germany. Maxeon has not only targeted Aiko's manufacturing and sales entities but has also named four major German solar product distributors—Wattkraft GmbH & Co. KG, DWH Solutions GmbH, Memodo GmbH, and Tepto GmbH—as co-defendants. Board Change • Dec 13
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. 4 non-independent directors. Independent Director Rui Qing Zhong was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 31
Third quarter 2025 earnings released: CN¥0.16 loss per share (vs CN¥0.60 loss in 3Q 2024) Third quarter 2025 results: CN¥0.16 loss per share (improved from CN¥0.60 loss in 3Q 2024). Revenue: CN¥3.15b (up 15% from 3Q 2024). Net loss: CN¥294.7m (loss narrowed 73% from 3Q 2024). Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 26% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. New Risk • Oct 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% 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. This is currently the only risk that has been identified for the company. Announcement • Sep 30
Shanghai Aiko Solar Energy Co.,Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Shanghai Aiko Solar Energy Co.,Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Reported Earnings • Aug 09
Second quarter 2025 earnings released: EPS: CN¥0.035 (vs CN¥0.89 loss in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.035 (up from CN¥0.89 loss in 2Q 2024). Revenue: CN¥4.31b (up 63% from 2Q 2024). Net income: CN¥62.9m (up CN¥1.72b from 2Q 2024). Profit margin: 1.5% (up from net loss in 2Q 2024). Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Announcement • Jun 30
Shanghai Aiko Solar Energy Co.,Ltd. to Report First Half, 2025 Results on Aug 26, 2025 Shanghai Aiko Solar Energy Co.,Ltd. announced that they will report first half, 2025 results on Aug 26, 2025 New Risk • Jun 24
New major risk - Revenue and earnings growth Earnings have declined by 46% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 46% per year over the past 5 years. Reported Earnings • Apr 30
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: CN¥2.91 loss per share (down from CN¥0.42 profit in FY 2023). Revenue: CN¥11.2b (down 59% from FY 2023). Net loss: CN¥5.32b (down CN¥6.08b from profit in FY 2023). Revenue missed analyst estimates by 9.0%. Earnings per share (EPS) also missed analyst estimates by 37%. Revenue is forecast to grow 54% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Announcement • Apr 30
Shanghai Aiko Solar Energy Co.,Ltd., Annual General Meeting, May 20, 2025 Shanghai Aiko Solar Energy Co.,Ltd., Annual General Meeting, May 20, 2025, at 14:00 China Standard Time. Location: No. 100, Xingfu Lake Road, Houzhai Subdistrict, Yiwu, Zhejiang China Announcement • Mar 28
Shanghai Aiko Solar Energy Co.,Ltd. to Report Q1, 2025 Results on Apr 30, 2025 Shanghai Aiko Solar Energy Co.,Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Announcement • Dec 27
Shanghai Aiko Solar Energy Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 30, 2025 Shanghai Aiko Solar Energy Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 30, 2025 New Risk • Nov 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 10% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Share price has been volatile over the past 3 months (10% average weekly change). Reported Earnings • Oct 31
Third quarter 2024 earnings released: CN¥0.60 loss per share (vs CN¥0.32 profit in 3Q 2023) Third quarter 2024 results: CN¥0.60 loss per share (down from CN¥0.32 profit in 3Q 2023). Revenue: CN¥2.73b (down 57% from 3Q 2023). Net loss: CN¥1.09b (down 288% from profit in 3Q 2023). Revenue is forecast to grow 52% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
Shanghai Aiko Solar Energy Co.,Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Shanghai Aiko Solar Energy Co.,Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 New Risk • Sep 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Share price has been volatile over the past 3 months (7.0% average weekly change). Reported Earnings • Aug 31
Second quarter 2024 earnings released: CN¥0.89 loss per share (vs CN¥0.76 profit in 2Q 2023) Second quarter 2024 results: CN¥0.89 loss per share (down from CN¥0.76 profit in 2Q 2023). Revenue: CN¥2.65b (down 69% from 2Q 2023). Net loss: CN¥1.65b (down 372% from profit in 2Q 2023). Revenue is forecast to grow 41% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Semiconductor 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 10% per year, which means it is significantly lagging earnings. Announcement • Jun 29
Shanghai Aiko Solar Energy Co.,Ltd. to Report First Half, 2024 Results on Aug 31, 2024 Shanghai Aiko Solar Energy Co.,Ltd. announced that they will report first half, 2024 results on Aug 31, 2024 Price Target Changed • May 02
Price target decreased by 23% to CN¥25.29 Down from CN¥32.66, the current price target is an average from 2 analysts. New target price is 112% above last closing price of CN¥11.95. Stock is down 48% over the past year. The company is forecast to post earnings per share of CN¥0.60 for next year compared to CN¥0.42 last year. Announcement • Apr 29
Shanghai Aiko Solar Energy Co.,Ltd., Annual General Meeting, May 22, 2024 Shanghai Aiko Solar Energy Co.,Ltd., Annual General Meeting, May 22, 2024, at 14:00 China Standard Time. Location: No. 100, Xingfu Lake Road, Houzhai Subdistrict, Yiwu, Zhejiang China Reported Earnings • Apr 28
First quarter 2024 earnings released: CN¥0.05 loss per share (vs CN¥0.38 profit in 1Q 2023) First quarter 2024 results: CN¥0.05 loss per share (down from CN¥0.38 profit in 1Q 2023). Revenue: CN¥2.51b (down 68% from 1Q 2023). Net loss: CN¥91.2m (down 113% from profit in 1Q 2023). Revenue is forecast to grow 53% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Mar 29
Shanghai Aiko Solar Energy Co.,Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Shanghai Aiko Solar Energy Co.,Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 New Risk • Feb 01
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 8.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.3% average weekly change). High level of non-cash earnings (50% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to CN¥14.80, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 27x in the Semiconductor industry in China. Total returns to shareholders of 24% over the past three years. Announcement • Dec 30
Shanghai Aiko Solar Energy Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 18, 2024 Shanghai Aiko Solar Energy Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 18, 2024 Announcement • Nov 08
Shanghai Aiko Solar Energy Co.,Ltd. (SHSE:600732) announces an Equity Buyback for CNY 300 million worth of its shares. Shanghai Aiko Solar Energy Co.,Ltd. (SHSE:600732) announces a share repurchase program. Under the program, the company will repurchase up to CNY 300 million worth of its shares. The shares will be purchased at a price not exceeding CNY 30 per share. The repurchased shares will be used for equity incentive plans. The program will be funded from company's own funds. The program will be valid for 6 months. Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: CN¥0.32 (vs CN¥0.34 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.32 (down from CN¥0.34 in 3Q 2022). Revenue: CN¥6.37b (down 35% from 3Q 2022). Net income: CN¥578.6m (down 27% from 3Q 2022). Profit margin: 9.1% (up from 8.1% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 33% p.a. on average during the next 3 years, compared to a 26% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. New Risk • Oct 06
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 6.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (49% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.0% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Price Target Changed • Sep 05
Price target decreased by 15% to CN¥36.08 Down from CN¥42.27, the current price target is an average from 2 analysts. New target price is 51% above last closing price of CN¥23.91. Stock is down 12% over the past year. The company is forecast to post earnings per share of CN¥1.80 for next year compared to CN¥0.96 last year. Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: CN¥0.76 (vs CN¥0.13 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.76 (up from CN¥0.13 in 2Q 2022). Revenue: CN¥8.50b (up 4.2% from 2Q 2022). Net income: CN¥607.2m (up 65% from 2Q 2022). Profit margin: 7.1% (up from 4.5% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. New Risk • Aug 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% 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 High level of non-cash earnings (32% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (15% increase in shares outstanding). Announcement • Jun 28
Shanghai Aiko Solar Energy Co.,Ltd. announced that it expects to receive CNY 6 billion in funding Shanghai Aiko Solar Energy Co.,Ltd. announced a private placement of not more than 547,982,715 A shares for the gross proceeds of not more than CNY 6,000,000,000 on June 27, 2023. The issue price shall not be lower than 80% of the average trading price of the company’s shares in the 20 trading days prior to the pricing base date. The transaction will include not more than 35 specific investors. The shares issued shall not be transferred within 6 months from the date of completion of the issue. The transaction has been approved in the thirteenth meeting of the ninth board of directors of the company, and approvals from the company's shareholders, the Shanghai Stock Exchange, and the China Securities Regulatory Commission are still pending. Price Target Changed • Jun 20
Price target increased by 12% to CN¥35.50 Up from CN¥31.79, the current price target is an average from 2 analysts. New target price is 18% above last closing price of CN¥30.06. Stock is up 32% over the past year. The company is forecast to post earnings per share of CN¥1.83 for next year compared to CN¥0.96 last year. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to CN¥28.85, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 40x in the Semiconductor industry in China. Total returns to shareholders of 234% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥12.17 per share. Valuation Update With 7 Day Price Move • May 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥36.01, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 38x in the Semiconductor industry in China. Total returns to shareholders of 400% over the past three years. Major Estimate Revision • Mar 21
Consensus EPS estimates increase by 21%, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from CN¥35.3b to CN¥34.8b. EPS estimate rose from CN¥2.07 to CN¥2.51. Net income forecast to grow 42% next year vs 49% growth forecast for Semiconductor industry in China. Consensus price target of CN¥49.70 unchanged from last update. Share price fell 6.0% to CN¥33.70 over the past week. Reported Earnings • Mar 14
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: CN¥1.34 (up from CN¥0.06 loss in FY 2021). Revenue: CN¥35.1b (up 127% from FY 2021). Net income: CN¥2.33b (up CN¥2.45b from FY 2021). Profit margin: 6.6% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 19%. Revenue is forecast to grow 9.8% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has increased by 69% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 10
Shanghai Aiko Solar Energy Co.,Ltd. announced that it has received CNY 1.649999991 billion in funding from Zhuhai Hengqin Shunhe Enterprise Management Partnership Enterprise (Limited Partnership) On January 9, 2023, Shanghai Aiko Solar Energy Co.,Ltd. closed the transaction. The transaction included participation from new investor Zhuhai Hengqin Shunhe Enterprise Management Partnership Enterprise (Limited Partnership)for 162,241,887 shares for CNY 1,649,999,990.79 for 12.47% stake in the company. The securities issued in the transaction have a lock-up period of 36 months. The company incurred total issuance expenses of CNY 16,071,296.38 and raised net proceeds of CNY 1,633,928,694.41 in the transaction. Board Change • Nov 16
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. No highly experienced 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: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment improved over the past week After last week's 39% share price gain to CN¥47.40, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 34x in the Semiconductor industry in China. Total returns to shareholders of 553% over the past three years. Reported Earnings • Oct 31
Third quarter 2022 earnings released: EPS: CN¥0.47 (vs CN¥0.01 loss in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.47 (up from CN¥0.01 loss in 3Q 2021). Revenue: CN¥9.84b (up 127% from 3Q 2021). Net income: CN¥794.1m (up CN¥816.2m from 3Q 2021). Profit margin: 8.1% (up from net loss in 3Q 2021). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 26% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 68% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 15
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥33.69, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 35x in the Semiconductor industry in China. Total returns to shareholders of 312% over the past three years. Reported Earnings • Jul 30
Second quarter 2022 earnings released: EPS: CN¥0.18 (vs CN¥0.045 loss in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.18 (up from CN¥0.045 loss in 2Q 2021). Revenue: CN¥8.16b (up 111% from 2Q 2021). Net income: CN¥368.8m (up CN¥493.2m from 2Q 2021). Profit margin: 4.5% (up from net loss in 2Q 2021). Over the next year, revenue is forecast to grow 44%, compared to a 49% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 71% per year, which means it is well ahead of earnings. Reported Earnings • May 02
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: CN¥0.11 (up from CN¥0.05 in 1Q 2021). Revenue: CN¥7.83b (up 160% from 1Q 2021). Net income: CN¥227.2m (up 126% from 1Q 2021). Profit margin: 2.9% (down from 3.3% in 1Q 2021). Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) exceeded analyst estimates by 17%. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Board Change • Apr 27
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. 11 experienced directors. No highly experienced directors. Non-Independent Director Jin Jianzhong was the last 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: Insufficient board refreshment. Reported Earnings • Oct 26
Third quarter 2021 earnings released: CN¥0.01 loss per share (vs CN¥0.11 profit in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: CN¥4.33b (up 69% from 3Q 2020). Net loss: CN¥22.1m (down 109% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 67% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥16.45, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 50x in the Semiconductor industry in China. Total returns to shareholders of 331% over the past three years. Valuation Update With 7 Day Price Move • Sep 03
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥15.84, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 52x in the Semiconductor industry in China. Total returns to shareholders of 277% over the past three years. Reported Earnings • Aug 29
Second quarter 2021 earnings released: CN¥0.045 loss per share (vs CN¥0.03 profit in 2Q 2020) The company reported a decent second quarter result with improved revenues, although earnings and control over costs were weaker. Second quarter 2021 results: Revenue: CN¥3.86b (up 107% from 2Q 2020). Net loss: CN¥124.4m (down 320% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 47% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment deteriorated over the past week After last week's 19% share price decline to CN¥11.75, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 71x in the Semiconductor industry in China. Total returns to shareholders of 129% over the past three years. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥11.43, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 9x in the Real Estate industry in China. Total returns to shareholders of 114% over the past three years. Reported Earnings • Apr 25
First quarter 2021 earnings released: EPS CN¥0.05 (vs CN¥0.04 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¥3.01b (up 64% from 1Q 2020). Net income: CN¥100.6m (up 26% from 1Q 2020). Profit margin: 3.3% (down from 4.4% in 1Q 2020). 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 26% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 17
Full year 2020 earnings released: EPS CN¥0.42 (vs CN¥0.37 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: CN¥9.66b (up 59% from FY 2019). Net income: CN¥805.5m (up 38% from FY 2019). Profit margin: 8.3% (down from 9.6% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Feb 26
New 90-day low: CN¥13.27 The company is down 24% from its price of CN¥17.45 on 27 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 Real Estate industry, which is down 5.0% over the same period. Is New 90 Day High Low • Feb 09
New 90-day low: CN¥14.81 The company is down 3.0% from its price of CN¥15.23 on 11 November 2020. The Chinese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is down 12% over the same period. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥15.40, the stock is trading at a trailing P/E ratio of 69.5x, down from the previous P/E ratio of 82x. This compares to an average P/E of 14x in the Real Estate industry in China. Total returns to shareholders over the past three years are 189%. Is New 90 Day High Low • Dec 23
New 90-day high: CN¥17.86 The company is up 32% from its price of CN¥13.57 on 24 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 10.0% over the same period. Valuation Update With 7 Day Price Move • Nov 25
Market bids up stock over the past week After last week's 19% share price gain to CN¥17.69, the stock is trading at a trailing P/E ratio of 79.8x, up from the previous P/E ratio of 67.1x. This compares to an average P/E of 16x in the Real Estate industry in China. Total returns to shareholders over the past three years are 119%. Is New 90 Day High Low • Nov 24
New 90-day high: CN¥17.38 The company is up 28% from its price of CN¥13.55 on 26 August 2020. The Chinese market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 6.0% over the same period. Valuation Update With 7 Day Price Move • Nov 05
Market bids up stock over the past week After last week's 17% share price gain to CN¥15.75, the stock is trading at a trailing P/E ratio of 71x, up from the previous P/E ratio of 60.7x. This compares to an average P/E of 16x in the Real Estate industry in China. Total returns to shareholders over the past three years are 90%. Is New 90 Day High Low • Nov 03
New 90-day high: CN¥15.84 The company is up 1.0% from its price of CN¥15.70 on 05 August 2020. The Chinese market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 11% over the same period. Valuation Update With 7 Day Price Move • Nov 03
Market bids up stock over the past week After last week's 18% share price gain to CN¥15.84, the stock is trading at a trailing P/E ratio of 71.4x, up from the previous P/E ratio of 60.7x. This compares to an average P/E of 16x in the Real Estate industry in China. Total returns to shareholders over the past three years are 87%. Reported Earnings • Oct 20
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥461.4m, down 22% from the prior year. Total revenue was CN¥8.14b over the last 12 months, up 47% from the prior year. Announcement • Oct 16
Shanghai Aiko Solar Energy Co., Ltd. to Report Q3, 2020 Results on Oct 20, 2020 Shanghai Aiko Solar Energy Co., Ltd. announced that they will report Q3, 2020 results on Oct 20, 2020 Announcement • Sep 17
Shanghai Aiko Solar Energy Co., Ltd. announced a financing transaction Shanghai Aiko Solar Energy Co., Ltd. (SHSE:600732) announced that it will receive an equity round of funding on September 14, 2020. The transaction has been approved 2nd special Shareholders' Meeting of 2020. Announcement • Aug 19
Shanghai Aiko Solar Energy Co., Ltd. announced that it has received CNY 2.499999989 billion in funding On August 5, 2020, Shanghai Aiko Solar Energy Co., Ltd. (SHSE:600732) closed the transaction. The company amended the terms of the transaction. The company will now issue 206,440,957 A shares at a price of CNY 12.11 for the total gross proceeds of CNY 2,499,999,989.27. The transaction included participation from specific investors. The placement agent transferred CNY 2,460,599,989.27 after reducing cost of CNY 39,400,000. The capital increase to CNY 206,440,957.00 and capital reserve to CNY 2,252,711,598.93 of the company after the transaction.
On August 6,2020 RSM China has issued "Capital Verification Report" ([2020]518Z0022). Announcement • Jul 18
Shanghai Aiko Solar Energy Co., Ltd. to Report First Half, 2020 Results on Aug 29, 2020 Shanghai Aiko Solar Energy Co., Ltd. announced that they will report first half, 2020 results on Aug 29, 2020