Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥105, the stock trades at a forward P/E ratio of 52x. Average forward P/E is 62x in the Semiconductor industry in China. Total loss to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥53.86 per share. Announcement • Jun 30
StarPower Semiconductor Ltd. to Report First Half, 2026 Results on Aug 25, 2026 StarPower Semiconductor Ltd. announced that they will report first half, 2026 results on Aug 25, 2026 Declared Dividend • Jun 15
Dividend reduced to CN¥0.51 Dividend of CN¥0.51 is 20% lower than last year. Ex-date: 16th June 2026 Payment date: 16th June 2026 Dividend yield will be 0.4%, which is lower than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (37% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 19% per year over the past 6 years. However, payments have been volatile during that time. EPS is expected to grow by 109% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Jun 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 8.4% 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 Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.4% average weekly change). Profit margins are more than 30% lower than last year (8.3% net profit margin). Reported Earnings • May 05
First quarter 2026 earnings: Revenues miss analyst expectations First quarter 2026 results: Revenue: CN¥864.1m (down 6.0% from 1Q 2025). Net income: CN¥26.6m (down 74% from 1Q 2025). Profit margin: 3.1% (down from 11% in 1Q 2025). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 15%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 28% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Announcement • Apr 30
StarPower Semiconductor Ltd., Annual General Meeting, May 28, 2026 StarPower Semiconductor Ltd., Annual General Meeting, May 28, 2026, at 13:30 China Standard Time. Location: The Company's Meeting Room, Jiaxing, Zhejiang China Major Estimate Revision • Apr 27
Consensus EPS estimates fall by 22% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CN¥5.15b to CN¥5.10b. EPS estimate also fell from CN¥3.18 per share to CN¥2.49 per share. Net income forecast to grow 47% next year vs 58% growth forecast for Semiconductor industry in China. Consensus price target of CN¥112 unchanged from last update. Share price rose 8.2% to CN¥111 over the past week. Price Target Changed • Apr 25
Price target increased by 7.7% to CN¥112 Up from CN¥104, the current price target is an average from 10 analysts. New target price is approximately in line with last closing price of CN¥109. Stock is up 31% over the past year. The company is forecast to post earnings per share of CN¥3.09 for next year compared to CN¥1.69 last year. Reported Earnings • Apr 06
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥1.69 (down from CN¥2.12 in FY 2024). Revenue: CN¥4.01b (up 18% from FY 2024). Net income: CN¥405.1m (down 20% from FY 2024). Profit margin: 10% (down from 15% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) also missed analyst estimates by 25%. Revenue is forecast to grow 15% 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 fallen by 27% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Announcement • Mar 30
StarPower Semiconductor Ltd. to Report Q1, 2026 Results on Apr 30, 2026 StarPower Semiconductor Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Announcement • Dec 26
StarPower Semiconductor Ltd. to Report Fiscal Year 2025 Results on Apr 30, 2026 StarPower Semiconductor Ltd. announced that they will report fiscal year 2025 results on Apr 30, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: CN¥0.44 (down from CN¥0.62 in 3Q 2024). Revenue: CN¥1.05b (up 20% from 3Q 2024). Net income: CN¥106.4m (down 28% from 3Q 2024). Profit margin: 10% (down from 17% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 8.0%. Earnings per share (EPS) also missed analyst estimates by 42%. Revenue is forecast to grow 19% 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 fallen by 20% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. Announcement • Sep 30
StarPower Semiconductor Ltd. to Report Q3, 2025 Results on Oct 30, 2025 StarPower Semiconductor Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Price Target Changed • Sep 04
Price target increased by 10% to CN¥100 Up from CN¥90.66, the current price target is an average from 12 analysts. New target price is approximately in line with last closing price of CN¥100. Stock is up 37% over the past year. The company is forecast to post earnings per share of CN¥2.63 for next year compared to CN¥2.12 last year. Major Estimate Revision • Aug 29
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from CN¥4.24b to CN¥4.45b. EPS estimate increased from CN¥2.46 to CN¥2.73 per share. Net income forecast to grow 54% next year vs 62% growth forecast for Semiconductor industry in China. Consensus price target up from CN¥90.66 to CN¥95.02. Share price rose 11% to CN¥109 over the past week. Announcement • Jun 30
StarPower Semiconductor Ltd. to Report First Half, 2025 Results on Aug 28, 2025 StarPower Semiconductor Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Board Change • May 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. 4 non-independent directors. Independent Director Xiaojun Shen was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 28
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: CN¥0.43 (down from CN¥0.68 in 1Q 2024). Revenue: CN¥919.2m (up 14% from 1Q 2024). Net income: CN¥103.7m (down 36% from 1Q 2024). Profit margin: 11% (down from 20% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 5.6%. Earnings per share (EPS) also missed analyst estimates by 45%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. Announcement • Apr 26
StarPower Semiconductor Ltd., Annual General Meeting, May 28, 2025 StarPower Semiconductor Ltd., Annual General Meeting, May 28, 2025, at 10:00 China Standard Time. Location: The Company's Meeting Room, Jiaxing, Zhejiang China Announcement • Mar 28
StarPower Semiconductor Ltd. to Report Q1, 2025 Results on Apr 26, 2025 StarPower Semiconductor Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 Announcement • Dec 27
StarPower Semiconductor Ltd. to Report Fiscal Year 2024 Results on Apr 26, 2025 StarPower Semiconductor Ltd. announced that they will report fiscal year 2024 results on Apr 26, 2025 Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥107, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 38x in the Semiconductor industry in China. Total loss to shareholders of 68% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥117 per share. Buy Or Sell Opportunity • Nov 01
Now 21% undervalued Over the last 90 days, the stock has risen 2.6% to CN¥91.97. The fair value is estimated to be CN¥116, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 26%. For the next 3 years, revenue is forecast to grow by 21% per annum. Earnings are also forecast to grow by 24% per annum over the same time period. Reported Earnings • Oct 30
Third quarter 2024 earnings: EPS in line with expectations, revenues disappoint Third quarter 2024 results: EPS: CN¥0.62 (down from CN¥0.95 in 3Q 2023). Revenue: CN¥881.5m (down 5.3% from 3Q 2023). Net income: CN¥148.6m (down 35% from 3Q 2023). Profit margin: 17% (down from 25% in 3Q 2023). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 8.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 22% 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 increased by 20% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥90.95, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 33x in the Semiconductor industry in China. Total loss to shareholders of 70% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥129 per share. Buy Or Sell Opportunity • Oct 10
Now 22% undervalued Over the last 90 days, the stock has risen 25% to CN¥102. The fair value is estimated to be CN¥130, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 30%. For the next 3 years, revenue is forecast to grow by 19% per annum. Earnings are also forecast to grow by 21% per annum over the same time period. Announcement • Sep 30
StarPower Semiconductor Ltd. to Report Q3, 2024 Results on Oct 30, 2024 StarPower Semiconductor Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥82.95, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 27x in the Semiconductor industry in China. Total loss to shareholders of 71% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥129 per share. New Risk • Sep 09
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 6.8% 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 (54% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.8% average weekly change). Major Estimate Revision • Sep 06
Consensus revenue estimates fall by 16% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥4.40b to CN¥3.69b. EPS estimate fell from CN¥4.25 to CN¥2.78 per share. Net income forecast to grow 12% next year vs 56% growth forecast for Semiconductor industry in China. Consensus price target down from CN¥123 to CN¥105. Share price fell 7.0% to CN¥71.36 over the past week. Price Target Changed • Sep 03
Price target decreased by 7.7% to CN¥113 Down from CN¥123, the current price target is an average from 14 analysts. New target price is 55% above last closing price of CN¥73.08. Stock is down 48% over the past year. The company is forecast to post earnings per share of CN¥2.85 for next year compared to CN¥3.81 last year. Reported Earnings • Aug 31
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: CN¥0.47 (down from CN¥0.93 in 2Q 2023). Revenue: CN¥728.3m (down 20% from 2Q 2023). Net income: CN¥112.1m (down 50% from 2Q 2023). Profit margin: 15% (down from 25% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 31%. Earnings per share (EPS) also missed analyst estimates by 80%. Revenue is forecast to grow 21% 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 30% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥97.09, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 32x in the Semiconductor industry in China. Total loss to shareholders of 66% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥153 per share. Price Target Changed • Jul 02
Price target decreased by 8.9% to CN¥125 Down from CN¥137, the current price target is an average from 13 analysts. New target price is 53% above last closing price of CN¥81.75. Stock is down 52% over the past year. The company is forecast to post earnings per share of CN¥4.40 for next year compared to CN¥3.81 last year. Announcement • Jun 28
StarPower Semiconductor Ltd. to Report First Half, 2024 Results on Aug 31, 2024 StarPower Semiconductor Ltd. announced that they will report first half, 2024 results on Aug 31, 2024 Price Target Changed • May 24
Price target decreased by 31% to CN¥98.81 Down from CN¥144, the current price target is an average from 15 analysts. New target price is 14% above last closing price of CN¥86.96. Stock is down 47% over the past year. The company is forecast to post earnings per share of CN¥3.63 for next year compared to CN¥3.81 last year. Major Estimate Revision • May 24
Consensus EPS estimates fall by 27% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from CN¥3.55 to CN¥2.59. Revenue forecast unchanged from CN¥4.63b at last update. Net income forecast to grow 29% next year vs 59% growth forecast for Semiconductor industry in China. Consensus price target down from CN¥202 to CN¥138. Share price fell 7.7% to CN¥86.96 over the past week. Valuation Update With 7 Day Price Move • May 22
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to CN¥94.51, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 30x in the Semiconductor industry in China. Total loss to shareholders of 57% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥185 per share. Major Estimate Revision • May 06
Consensus revenue estimates fall by 16% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥4.72b to CN¥3.98b. EPS estimate fell from CN¥6.47 to CN¥4.30 per share. Net income forecast to grow 3.3% next year vs 59% growth forecast for Semiconductor industry in China. Consensus price target down from CN¥211 to CN¥202. Share price fell 7.6% to CN¥139 over the past week. Reported Earnings • Apr 30
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: CN¥0.95 (down from CN¥1.21 in 1Q 2023). Revenue: CN¥804.8m (up 3.2% from 1Q 2023). Net income: CN¥162.6m (down 21% from 1Q 2023). Profit margin: 20% (down from 26% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 17%. Earnings per share (EPS) also missed analyst estimates by 34%. Revenue is forecast to grow 20% 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 increased by 39% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Apr 30
Now 20% undervalued Over the last 90 days, the stock has risen 9.4% to CN¥139. The fair value is estimated to be CN¥174, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to grow by 20% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Price Target Changed • Apr 14
Price target decreased by 8.0% to CN¥213 Down from CN¥232, the current price target is an average from 15 analysts. New target price is 49% above last closing price of CN¥143. Stock is down 50% over the past year. The company is forecast to post earnings per share of CN¥6.50 for next year compared to CN¥5.33 last year. Announcement • Apr 08
StarPower Semiconductor Ltd., Annual General Meeting, Apr 29, 2024 StarPower Semiconductor Ltd., Annual General Meeting, Apr 29, 2024, at 10:00 China Standard Time. Location: The Company's Meeting Room, Jiaxing, Zhejiang China Reported Earnings • Apr 08
Full year 2023 earnings: EPS in line with expectations, revenues disappoint Full year 2023 results: EPS: CN¥5.33 (up from CN¥4.79 in FY 2022). Revenue: CN¥3.66b (up 35% from FY 2022). Net income: CN¥910.5m (up 11% from FY 2022). Profit margin: 25% (down from 30% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 21% 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 increased by 47% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Mar 29
StarPower Semiconductor Ltd. to Report Q1, 2024 Results on Apr 30, 2024 StarPower Semiconductor Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 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¥134, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 27x in the Semiconductor industry in China. Total loss to shareholders of 41% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥249 per share. Announcement • Dec 29
StarPower Semiconductor Ltd. to Report Fiscal Year 2023 Results on Apr 08, 2024 StarPower Semiconductor Ltd. announced that they will report fiscal year 2023 results on Apr 08, 2024 Buying Opportunity • Nov 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 4.7%. The fair value is estimated to be CN¥233, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 44% over the last 3 years. Earnings per share has grown by 53%. For the next 3 years, revenue is forecast to grow by 22% per annum. Earnings is also forecast to grow by 22% per annum over the same time period. Price Target Changed • Nov 04
Price target decreased by 7.7% to CN¥251 Down from CN¥272, the current price target is an average from 16 analysts. New target price is 33% above last closing price of CN¥189. Stock is down 49% over the past year. The company is forecast to post earnings per share of CN¥5.37 for next year compared to CN¥4.79 last year. Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥189, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 31x in the Semiconductor industry in China. Total loss to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥235 per share. Reported Earnings • Oct 29
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: CN¥1.34 (down from CN¥1.43 in 3Q 2022). Revenue: CN¥930.7m (up 29% from 3Q 2022). Net income: CN¥228.3m (down 6.3% from 3Q 2022). Profit margin: 25% (down from 34% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 24% p.a. on average during the next 3 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 53% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Price Target Changed • Sep 19
Price target decreased by 9.1% to CN¥273 Down from CN¥301, the current price target is an average from 15 analysts. New target price is 49% above last closing price of CN¥184. Stock is down 53% over the past year. The company is forecast to post earnings per share of CN¥5.57 for next year compared to CN¥4.79 last year. Buying Opportunity • Sep 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 9.2%. The fair value is estimated to be CN¥240, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 46% over the last 3 years. Earnings per share has grown by 57%. For the next 3 years, revenue is forecast to grow by 23% per annum. Earnings is also forecast to grow by 21% per annum over the same time period. Price Target Changed • Sep 02
Price target decreased by 12% to CN¥312 Down from CN¥355, the current price target is an average from 15 analysts. New target price is 58% above last closing price of CN¥197. Stock is down 50% over the past year. The company is forecast to post earnings per share of CN¥5.66 for next year compared to CN¥4.79 last year. Price Target Changed • Aug 30
Price target decreased by 8.2% to CN¥339 Down from CN¥370, the current price target is an average from 15 analysts. New target price is 69% above last closing price of CN¥201. Stock is down 49% over the past year. The company is forecast to post earnings per share of CN¥6.19 for next year compared to CN¥4.79 last year. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥241, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 41x in the Semiconductor industry in China. Total returns to shareholders of 3.0% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥241 per share. Announcement • Jun 28
StarPower Semiconductor Ltd. to Report First Half, 2023 Results on Aug 30, 2023 StarPower Semiconductor Ltd. announced that they will report first half, 2023 results on Aug 30, 2023 Major Estimate Revision • May 04
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥4.15b to CN¥4.04b. EPS estimate also fell from CN¥6.63 per share to CN¥5.89 per share. Net income forecast to grow 28% next year vs 72% growth forecast for Semiconductor industry in China. Consensus price target down from CN¥407 to CN¥387. Share price was steady at CN¥238 over the past week. Reported Earnings • Apr 08
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: CN¥4.79 (up from CN¥2.48 in FY 2021). Revenue: CN¥2.71b (up 59% from FY 2021). Net income: CN¥817.6m (up 105% from FY 2021). Profit margin: 30% (up from 23% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) exceeded analyst estimates by 1.2%. Revenue is forecast to grow 25% 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 56% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 28
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: CN¥1.43 (up from CN¥0.70 in 3Q 2021). Revenue: CN¥720.1m (up 51% from 3Q 2021). Net income: CN¥243.6m (up 117% from 3Q 2021). Profit margin: 34% (up from 24% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) exceeded analyst estimates by 23%. Revenue is forecast to grow 38% p.a. on average during the next 3 years, compared to a 26% growth forecast for the Semiconductor industry in China. Major Estimate Revision • Sep 02
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from CN¥3.97 to CN¥4.42. Revenue forecast steady at CN¥2.75b. Net income forecast to grow 49% next year vs 55% growth forecast for Semiconductor industry in China. Consensus price target up from CN¥455 to CN¥479. Share price was steady at CN¥390 over the past week. Reported Earnings • Aug 29
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: EPS: CN¥1.14 (up from CN¥0.49 in 2Q 2021). Revenue: CN¥611.6m (up 55% from 2Q 2021). Net income: CN¥195.3m (up 147% from 2Q 2021). Profit margin: 32% (up from 20% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) exceeded analyst estimates by 17%. Over the next year, revenue is forecast to grow 54%, compared to a 46% growth forecast for the Semiconductor industry in China. Reported Earnings • May 02
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: CN¥0.89 (up from CN¥0.47 in 1Q 2021). Revenue: CN¥542.5m (up 67% from 1Q 2021). Net income: CN¥151.2m (up 101% from 1Q 2021). Profit margin: 28% (up from 23% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.7%. Earnings per share (EPS) also surpassed analyst estimates by 21%. Over the next year, revenue is forecast to grow 54%, compared to a 44% growth forecast for the industry in China. Reported Earnings • Mar 13
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: CN¥2.35 (up from CN¥1.15 in FY 2020). Revenue: CN¥1.71b (up 77% from FY 2020). Net income: CN¥398.5m (up 121% from FY 2020). Profit margin: 23% (up from 19% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.6%. Over the next year, revenue is forecast to grow 47%, compared to a 55% growth forecast for the industry in China. Price Target Changed • Nov 10
Price target increased to CN¥442 Up from CN¥412, the current price target is an average from 12 analysts. New target price is approximately in line with last closing price of CN¥446. Stock is up 104% over the past year. The company is forecast to post earnings per share of CN¥2.19 for next year compared to CN¥1.15 last year. Reported Earnings • Nov 01
Third quarter 2021 earnings released: EPS CN¥0.70 (vs CN¥0.33 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥477.9m (up 90% from 3Q 2020). Net income: CN¥112.5m (up 111% from 3Q 2020). Profit margin: 24% (up from 21% in 3Q 2020). The increase in margin was driven by higher revenue. Price Target Changed • Sep 03
Price target increased to CN¥397 Up from CN¥370, the current price target is an average from 11 analysts. New target price is 25% above last closing price of CN¥317. Stock is up 70% over the past year. Reported Earnings • Aug 30
Second quarter 2021 earnings released: EPS CN¥0.49 (vs CN¥0.35 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: CN¥394.0m (up 41% from 2Q 2020). Net income: CN¥78.9m (up 47% from 2Q 2020). Profit margin: 20% (in line with 2Q 2020). Price Target Changed • Jul 22
Price target increased to CN¥307 Up from CN¥286, the current price target is an average from 10 analysts. New target price is 22% below last closing price of CN¥395. Stock is up 58% over the past year. Major Estimate Revision • May 04
Consensus EPS estimates increase to CN¥1.80 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from CN¥1.30b to CN¥1.42b. EPS estimate increased from CN¥1.55 to CN¥1.80 per share. Net income forecast to grow 30% next year vs 50% growth forecast for Semiconductor industry in China. Consensus price target broadly unchanged at CN¥286. Share price rose 8.5% to CN¥216 over the past week. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS CN¥0.47 (vs CN¥0.18 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥324.9m (up 136% from 1Q 2020). Net income: CN¥75.0m (up 177% from 1Q 2020). Profit margin: 23% (up from 20% in 1Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Apr 09
Full year 2020 earnings released: EPS CN¥1.15 (vs CN¥1.13 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥963.0m (up 24% from FY 2019). Net income: CN¥180.7m (up 34% from FY 2019). Profit margin: 19% (up from 17% in FY 2019). The increase in margin was driven by higher revenue. Is New 90 Day High Low • Mar 05
New 90-day low: CN¥209 The company is down 2.0% from its price of CN¥214 on 04 December 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥5.45 per share. Is New 90 Day High Low • Dec 08
New 90-day high: CN¥249 The company is up 57% from its price of CN¥158 on 09 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 Semiconductor industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥3.83 per share. Is New 90 Day High Low • Nov 09
New 90-day high: CN¥235 The company is up 9.0% from its price of CN¥215 on 11 August 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is down 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥4.34 per share. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥165.8m, up 36% from the prior year. Total revenue was CN¥882.0m over the last 12 months, up 23% from the prior year.