Reported Earnings • Apr 29
Full year 2025 earnings released: EPS: CN¥0.04 (vs CN¥0.06 in FY 2024) Full year 2025 results: EPS: CN¥0.04 (down from CN¥0.06 in FY 2024). Revenue: CN¥1.02b (down 2.2% from FY 2024). Net income: CN¥43.5m (down 37% from FY 2024). Profit margin: 4.3% (down from 6.6% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Apr 29
CETC Chips Technology Inc., Annual General Meeting, May 20, 2026 CETC Chips Technology Inc., Annual General Meeting, May 20, 2026, at 14:00 China Standard Time. Location: No. 23, Xiyong Avenue, Shapingba District, Chongqing China Announcement • Mar 30
CETC Chips Technology Inc. to Report Q1, 2026 Results on Apr 29, 2026 CETC Chips Technology Inc. announced that they will report Q1, 2026 results on Apr 29, 2026 New Risk • Dec 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 7.0% 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 Earnings have declined by 7.0% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.0% net profit margin). Announcement • Dec 26
CETC Chips Technology Inc. to Report Fiscal Year 2025 Results on Apr 29, 2026 CETC Chips Technology Inc. announced that they will report fiscal year 2025 results on Apr 29, 2026 Board Change • Dec 11
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Tengjiang Deng 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. Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: CN¥0.001 (vs CN¥0.017 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.001 (down from CN¥0.017 in 3Q 2024). Revenue: CN¥196.2m (down 17% from 3Q 2024). Net income: CN¥1.51m (down 93% from 3Q 2024). Profit margin: 0.8% (down from 8.7% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
CETC Chips Technology Inc. to Report Q3, 2025 Results on Oct 31, 2025 CETC Chips Technology Inc. announced that they will report Q3, 2025 results on Oct 31, 2025 New Risk • Sep 03
New major risk - Revenue and earnings growth Earnings have declined by 0.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.6% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.9% net profit margin). Announcement • Jun 30
CETC Chips Technology Inc. to Report First Half, 2025 Results on Aug 22, 2025 CETC Chips Technology Inc. announced that they will report first half, 2025 results on Aug 22, 2025 New Risk • May 03
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 217% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.9% net profit margin). Reported Earnings • Apr 28
Third quarter 2024 earnings released: EPS: CN¥0.017 (vs CN¥0.041 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.017 (down from CN¥0.041 in 3Q 2023). Revenue: CN¥236.5m (down 16% from 3Q 2023). Net income: CN¥20.6m (down 58% from 3Q 2023). Profit margin: 8.7% (down from 17% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 9% per year. Announcement • Apr 25
CETC Chips Technology Inc., Annual General Meeting, May 21, 2025 CETC Chips Technology Inc., Annual General Meeting, May 21, 2025, at 14:00 China Standard Time. Location: No. 23, Xiyong Avenue, Shapingba District, Chongqing China Announcement • Mar 28
CETC Chips Technology Inc. to Report Q1, 2025 Results on Apr 25, 2025 CETC Chips Technology Inc. announced that they will report Q1, 2025 results on Apr 25, 2025 Announcement • Dec 27
CETC Chips Technology Inc. to Report Fiscal Year 2024 Results on Apr 25, 2025 CETC Chips Technology Inc. announced that they will report fiscal year 2024 results on Apr 25, 2025 Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.017 (vs CN¥0.041 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.017 (down from CN¥0.041 in 3Q 2023). Revenue: CN¥236.5m (down 16% from 3Q 2023). Net income: CN¥20.6m (down 58% from 3Q 2023). Profit margin: 8.7% (down from 17% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥13.16, the stock trades at a trailing P/E ratio of 71.3x. Average trailing P/E is 50x in the Semiconductor industry in China. Total loss to shareholders of 13% over the past three years. Announcement • Sep 30
CETC Chips Technology Inc. to Report Q3, 2024 Results on Oct 29, 2024 CETC Chips Technology Inc. announced that they will report Q3, 2024 results on Oct 29, 2024 Announcement • Jun 28
CETC Chips Technology Inc. to Report First Half, 2024 Results on Aug 10, 2024 CETC Chips Technology Inc. announced that they will report first half, 2024 results on Aug 10, 2024 New Risk • May 06
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. This is currently the only risk that has been identified for the company. New Risk • Apr 27
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. This is currently the only risk that has been identified for the company. Announcement • Apr 27
CETC Chips Technology Inc., Annual General Meeting, May 27, 2024 CETC Chips Technology Inc., Annual General Meeting, May 27, 2024, at 13:30 China Standard Time. Location: No. 23, Xiyong Avenue, Shapingba District, Chongqing China Reported Earnings • Apr 26
Full year 2023 earnings released: EPS: CN¥0.20 (vs CN¥0.19 in FY 2022) Full year 2023 results: EPS: CN¥0.20 (up from CN¥0.19 in FY 2022). Revenue: CN¥1.52b (down 2.6% from FY 2022). Net income: CN¥234.0m (up 4.9% from FY 2022). Profit margin: 15% (up from 14% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Mar 29
CETC Chips Technology Inc. to Report Q1, 2024 Results on Apr 26, 2024 CETC Chips Technology Inc. announced that they will report Q1, 2024 results on Apr 26, 2024 Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥9.99, the stock trades at a trailing P/E ratio of 57.3x. Average trailing P/E is 48x in the Semiconductor industry in China. Total loss to shareholders of 16% over the past three years. Announcement • Dec 30
CETC Acoustic-Optic-Electronic Technology Inc. to Report Fiscal Year 2023 Results on Apr 17, 2024 CETC Acoustic-Optic-Electronic Technology Inc. announced that they will report fiscal year 2023 results on Apr 17, 2024 New Risk • Nov 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 34% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Large one-off items impacting financial results. Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: CN¥0.041 (vs CN¥0.035 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.041 (up from CN¥0.035 in 3Q 2022). Revenue: CN¥279.7m (down 17% from 3Q 2022). Net income: CN¥48.8m (up 17% from 3Q 2022). Profit margin: 17% (up from 12% in 3Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Oct 07
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: Minor Risks Share price has been volatile over the past 3 months (6.0% average weekly change). Large one-off items impacting financial results. New Risk • Aug 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 18
Second quarter 2023 earnings released: EPS: CN¥0.03 (vs CN¥0.039 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.03 (down from CN¥0.039 in 2Q 2022). Revenue: CN¥350.0m (down 17% from 2Q 2022). Net income: CN¥35.6m (down 23% from 2Q 2022). Profit margin: 10% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 28
CETC Acoustic-Optic-Electronic Technology Inc. to Report First Half, 2023 Results on Aug 18, 2023 CETC Acoustic-Optic-Electronic Technology Inc. announced that they will report first half, 2023 results on Aug 18, 2023 Board Change • Nov 16
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Chairman of the Supervisory Board Bin Xu is the most experienced director on the board, commencing their role in 2021. Independent Director Xing Liu was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Reported Earnings • Oct 28
Third quarter 2022 earnings released Third quarter 2022 results: EPS: CN¥0.035. Revenue: CN¥338.1m (down 4.1% from 3Q 2021). Net income: CN¥41.9m (up 137% from 3Q 2021). Profit margin: 12% (up from 5.0% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 28% p.a. on average during the next 2 years, compared to a 21% growth forecast for the Auto industry in China. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 18
Second quarter 2022 earnings released: EPS: CN¥0.039 (vs CN¥0.035 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.039 (up from CN¥0.035 in 2Q 2021). Revenue: CN¥419.6m (down 28% from 2Q 2021). Net income: CN¥46.0m (up 58% from 2Q 2021). Profit margin: 11% (up from 5.0% in 2Q 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 56%, compared to a 20% growth forecast for the Auto industry in China. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Reported Earnings • Apr 28
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: CN¥0.027 (up from CN¥0.003 in 1Q 2021). Revenue: CN¥274.8m (up 384% from 1Q 2021). Net income: CN¥31.5m (up CN¥29.3m from 1Q 2021). Profit margin: 12% (up from 4.0% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.0%. Earnings per share (EPS) exceeded analyst estimates by 23%. Over the next year, revenue is forecast to grow 35%, compared to a 13% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Major Estimate Revision • Apr 27
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥2.18b to CN¥2.05b. EPS estimate also fell from CN¥0.20 per share to CN¥0.17 per share. Net income forecast to grow 43% next year vs 46% growth forecast for Auto industry in China. Consensus price target down from CN¥19.57 to CN¥12.60. Share price fell 20% to CN¥9.29 over the past week. Reported Earnings • Apr 16
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: CN¥0.16 (up from CN¥0.10 in FY 2020). Revenue: CN¥1.66b (up 311% from FY 2020). Net income: CN¥139.0m (up 73% from FY 2020). Profit margin: 8.4% (down from 20% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 5.0%. Earnings per share (EPS) exceeded analyst estimates by 23%. Over the next year, revenue is forecast to grow 31%, compared to a 28% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Reported Earnings • Oct 28
Third quarter 2021 earnings released The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: CN¥352.7m (up 378% from 3Q 2020). Net income: CN¥17.7m (up 54% from 3Q 2020). Profit margin: 5.0% (down from 16% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 57% per year, which means it is well ahead of earnings. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS CN¥0.035 (vs CN¥0.005 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: CN¥584.0m (up CN¥519.7m from 2Q 2020). Net income: CN¥29.2m (up CN¥25.1m from 2Q 2020). Profit margin: 5.0% (down from 6.4% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 40% per year, which means it is well ahead of earnings. Announcement • Jun 18
CETC Energy Joint-Stock Co., Ltd. announced that it expects to receive CNY 899.99999 million in funding from CETC Chongqing Acoustic-Optic-Electronic Co., Ltd., CETC Investment Holdings Co.,Ltd. CETC Energy Joint-Stock Co., Ltd. (SHSE:600877) announced a private placement of not more than 187,110,185 shares at a price of CNY 4.81 per share for gross proceeds of not more than CNY 900 million on June 16, 2021. The transaction included participation from CETC Technology R&D Investment Co., Ltd. for 103,950, 103 shares, returning investors CETC Chongqing Acoustic-Optic-Electronic Co., Ltd. for 41,580,041 shares, CETC Investment Holdings Co.,Ltd. for 41,580,041 shares. The securities will have a lock up period of 36 months from the issuance date. The transaction was approved at the 11th meeting of the 11th board of directors and 2nd meeting of the 12th board of directors of the company, China Securities Regulatory Commission approved the formal plan of this transaction. Reported Earnings • Apr 25
Full year 2020 earnings released: EPS CN¥0.10 (vs CN¥0.12 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¥402.3m (up 15% from FY 2019). Net income: CN¥80.5m (up 1.0% from FY 2019). Profit margin: 20% (down from 23% in FY 2019). The decrease in margin was driven by higher expenses. Is New 90 Day High Low • Jan 27
New 90-day high: CN¥13.48 The company is up 124% from its price of CN¥6.02 on 29 October 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto industry, which is up 9.0% over the same period. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥11.62, the stock is trading at a trailing P/E ratio of 71.9x, up from the previous P/E ratio of 62.2x. This compares to an average P/E of 57x in the Auto industry in China. Total returns to shareholders over the past year are 74%. Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥10.26, the stock is trading at a trailing P/E ratio of 63.5x, up from the previous P/E ratio of 53.3x. This compares to an average P/E of 56x in the Auto industry in China. Total returns to shareholders over the past year are 60%. Is New 90 Day High Low • Jan 06
New 90-day high: CN¥9.78 The company is up 71% from its price of CN¥5.72 on 30 September 2020. The Chinese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto industry, which is up 26% over the same period. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥6.85, the stock is trading at a trailing P/E ratio of 42.4x, up from the previous P/E ratio of 36.6x. This compares to an average P/E of 46x in the Auto industry in China. Total returns to shareholders over the past year are 30%. Is New 90 Day High Low • Dec 14
New 90-day high: CN¥6.21 The company is up 1.0% from its price of CN¥6.17 on 15 September 2020. The Chinese market is also up 1.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Auto industry, which is up 24% over the same period. Announcement • Dec 13
CETC Energy Joint-Stock Plans Acquisition Via Share Issue CETC Energy Joint-Stock Co., Ltd. (SHSE:600877) said it plans to buy stakes in three firms via share issue, transaction price to be confirmed. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥115.6m, up 336% from the prior year. Total revenue was CN¥445.8m over the last 12 months, up 86% from the prior year. Announcement • Oct 27
CETC Energy Joint-Stock Co., Ltd. to Report Q3, 2020 Results on Oct 30, 2020 CETC Energy Joint-Stock Co., Ltd. announced that they will report Q3, 2020 results on Oct 30, 2020 Announcement • Jul 06
CETC Energy Joint-Stock Co., Ltd. to Report First Half, 2020 Results on Aug 15, 2020 CETC Energy Joint-Stock Co., Ltd. announced that they will report first half, 2020 results on Aug 15, 2020