Fujian Raynen Technology (SHSE:603933) - Share price, News & Analysis

603933 fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	2/6
Financial Health	5/6
Dividends	2/6

603933 Stock Overview

Fujian Raynen Technology Co., Ltd. engages in the distribution of IC products in China.

Rewards

PE ratio (26.9x) is below the CN market (30.4x)

Risk Analysis

Earnings have declined by 24% per year over past 5 years

High level of non-cash earnings

Dividend of 1.27% is not well covered by earnings

Shareholders have been diluted in the past year

Fujian Raynen Technology Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Fujian Raynen Technology
Historical stock prices
Current Share Price	CN¥10.28
52 Week High	CN¥17.72
52 Week Low	CN¥8.34
Beta	0.54
1 Month Change	2.09%
3 Month Change	-18.41%
1 Year Change	-22.71%
3 Year Change	-20.04%
5 Year Change	n/a
Change since IPO	-30.74%

Shareholder Returns

	603933	CN Semiconductor	CN Market
7D	3.9%	5.2%	2.9%
1Y	-22.7%	6.6%	-15.8%

Return vs Industry: 603933 underperformed the CN Semiconductor industry which returned 6.6% over the past year.

Return vs Market: 603933 underperformed the CN Market which returned -15.8% over the past year.

Price Volatility

Is 603933's price volatile compared to industry and market?
603933 volatility
603933 Average Weekly Movement	5.8%
Semiconductor Industry Average Movement	7.9%
Market Average Movement	7.4%
10% most volatile stocks in CN Market	10.3%
10% least volatile stocks in CN Market	5.3%

Stable Share Price: 603933 is less volatile than 75% of CN stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: 603933's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2007	1,103	n/a	https://www.raynen.cn

Fujian Raynen Technology Co., Ltd. engages in the distribution of IC products in China. The company also researches, develops, produces, and sells computer control systems for knitting machines and textile servo drivers. Its products include flat knitting machine computer control systems, vamp flat knitting machine computer control systems, operation boxes, main controllers, take-down comb controllers, carriage controllers, and integrated power supply products; and single-axis and digital dual-axis servo drivers.

Fujian Raynen Technology Fundamentals Summary

How do Fujian Raynen Technology's earnings and revenue compare to its market cap?
603933 fundamental statistics
Market Cap	CN¥2.17b
Earnings (TTM)	CN¥80.64m
Revenue (TTM)	CN¥2.13b

26.9x

P/E Ratio

1.0x

P/S Ratio

Is 603933 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
603933 income statement (TTM)
Revenue	CN¥2.13b
Cost of Revenue	CN¥1.73b
Gross Profit	CN¥397.86m
Other Expenses	CN¥317.23m
Earnings	CN¥80.64m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	0.38
Gross Margin	18.68%
Net Profit Margin	3.79%
Debt/Equity Ratio	25.2%

How did 603933 perform over the long term?

See historical performance and comparison

Dividends

1.3%

Current Dividend Yield

33%

Payout Ratio

Valuation

Is Fujian Raynen Technology undervalued compared to its fair value and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

26.88x

Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: 603933 (CN¥10.28) is trading above our estimate of fair value (CN¥1.64)

Significantly Below Fair Value: 603933 is trading above our estimate of fair value.

Price To Earnings Ratio

PE vs Industry: 603933 is good value based on its PE Ratio (26.9x) compared to the CN Semiconductor industry average (44.3x).

PE vs Market: 603933 is good value based on its PE Ratio (26.9x) compared to the CN market (30.4x).

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 603933's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: 603933 is good value based on its PB Ratio (1.9x) compared to the CN Semiconductor industry average (4.2x).

Future Growth

How is Fujian Raynen Technology forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

28.2%

Forecasted Semiconductors industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Fujian Raynen Technology has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Past Performance

How has Fujian Raynen Technology performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-24.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 603933 has a high level of non-cash earnings.

Growing Profit Margin: 603933's current net profit margins (3.8%) are higher than last year (3.1%).

Past Earnings Growth Analysis

Earnings Trend: 603933's earnings have declined by 24% per year over the past 5 years.

Accelerating Growth: 603933's earnings growth over the past year (53.8%) exceeds its 5-year average (-24% per year).

Earnings vs Industry: 603933 earnings growth over the past year (53.8%) underperformed the Semiconductor industry 66.5%.

Return on Equity

High ROE: 603933's Return on Equity (6.5%) is considered low.

Financial Health

How is Fujian Raynen Technology's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: 603933's short term assets (CN¥1.7B) exceed its short term liabilities (CN¥757.3M).

Long Term Liabilities: 603933's short term assets (CN¥1.7B) exceed its long term liabilities (CN¥110.6M).

Debt to Equity History and Analysis

Debt Level: 603933 has more cash than its total debt.

Reducing Debt: 603933's debt to equity ratio has reduced from 32.6% to 25.2% over the past 5 years.

Debt Coverage: 603933's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: 603933 earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

Dividend

What is Fujian Raynen Technology current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

1.27%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 603933's dividend (1.27%) is higher than the bottom 25% of dividend payers in the CN market (0.55%).

High Dividend: 603933's dividend (1.27%) is low compared to the top 25% of dividend payers in the CN market (2.11%).

Stability and Growth of Payments

Stable Dividend: 603933 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 603933 has only been paying a dividend for 4 years, and since then payments have fallen.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (32.8%), 603933's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: 603933 is paying a dividend but the company has no free cash flows.

Next Steps

Explore strong dividend paying companies in the Semiconductors industry.

Management

How experienced are the management team and are they aligned to shareholders interests?

CEO

Fujian Raynen Technology has no CEO, or we have no data on them.

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.8%.

Data	Last Updated (UTC time)
Company Analysis	2022/05/17 00:00
End of Day Share Price	2022/05/17 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31