Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥106, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 58x in the Semiconductor industry in China. Total returns to shareholders of 80% over the past three years. New Risk • Apr 13
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.1% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (24% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥90.27, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 45x in the Semiconductor industry in China. Total returns to shareholders of 61% over the past three years. Announcement • Mar 30
Smartsens Technology (Shanghai) Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Smartsens Technology (Shanghai) Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Reported Earnings • Mar 04
Full year 2025 earnings: EPS in line with analyst expectations despite revenue beat Full year 2025 results: EPS: CN¥2.50 (up from CN¥0.98 in FY 2024). Revenue: CN¥9.03b (up 51% from FY 2024). Net income: CN¥1.00b (up 155% from FY 2024). Profit margin: 11% (up from 6.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 19% p.a. on average during the next 2 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 108% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Announcement • Dec 26
Smartsens Technology (Shanghai) Co., Ltd. to Report Fiscal Year 2025 Results on Mar 28, 2026 Smartsens Technology (Shanghai) Co., Ltd. announced that they will report fiscal year 2025 results on Mar 28, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.76 (vs CN¥0.31 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.76 (up from CN¥0.31 in 3Q 2024). Revenue: CN¥2.53b (up 45% from 3Q 2024). Net income: CN¥302.6m (up 145% from 3Q 2024). Profit margin: 12% (up from 7.1% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 23% 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 109% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥119, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 46x in the Semiconductor industry in China. Total returns to shareholders of 199% over the past three years. Announcement • Sep 30
Smartsens Technology (Shanghai) Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Smartsens Technology (Shanghai) Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Reported Earnings • Aug 24
Second quarter 2025 earnings released: EPS: CN¥0.51 (vs CN¥0.30 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.51 (up from CN¥0.30 in 2Q 2024). Revenue: CN¥2.04b (up 26% from 2Q 2024). Net income: CN¥205.4m (up 51% from 2Q 2024). Profit margin: 10% (up from 8.4% in 2Q 2024). The increase in margin was driven by higher revenue. 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 90% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Announcement • Jun 30
Smartsens Technology (Shanghai) Co., Ltd. to Report First Half, 2025 Results on Aug 23, 2025 Smartsens Technology (Shanghai) Co., Ltd. announced that they will report first half, 2025 results on Aug 23, 2025 Announcement • May 09
Smartsens Technology (Shanghai) Co., Ltd., Annual General Meeting, May 30, 2025 Smartsens Technology (Shanghai) Co., Ltd., Annual General Meeting, May 30, 2025, at 10:00 China Standard Time. Location: Building 8, Phase IV, No. 889, Tianlin Road, Minhang District, Shanghai China New Risk • Apr 26
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 9.1% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (9.1% operating cash flow to total debt). Minor Risk Share price has been volatile over the past 3 months (9.2% average weekly change). Announcement • Mar 28
Smartsens Technology (Shanghai) Co., Ltd. to Report Q1, 2025 Results on Apr 19, 2025 Smartsens Technology (Shanghai) Co., Ltd. announced that they will report Q1, 2025 results on Apr 19, 2025 Reported Earnings • Feb 26
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: CN¥0.98 (up from CN¥0.04 in FY 2023). Revenue: CN¥5.97b (up 109% from FY 2023). Net income: CN¥391.2m (up CN¥377.0m from FY 2023). Profit margin: 6.6% (up from 0.5% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Semiconductor industry in China. New Risk • Feb 21
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 8.3% 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (34% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (8.3% average weekly change). Announcement • Dec 27
Smartsens Technology (Shanghai) Co., Ltd. to Report Fiscal Year 2024 Results on Apr 19, 2025 Smartsens Technology (Shanghai) Co., Ltd. announced that they will report fiscal year 2024 results on Apr 19, 2025 Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: CN¥0.31 (vs CN¥0.002 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.31 (up from CN¥0.002 in 3Q 2023). Revenue: CN¥1.75b (up 150% from 3Q 2023). Net income: CN¥123.4m (up CN¥122.6m from 3Q 2023). Profit margin: 7.1% (up from 0.1% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Semiconductor industry in China. New Risk • Oct 26
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. 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). High level of non-cash earnings (34% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). New Risk • Sep 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 7.5% 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 (21% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.5% average weekly change). Announcement • Sep 30
Smartsens Technology (Shanghai) Co., Ltd. to Report Q3, 2024 Results on Oct 26, 2024 Smartsens Technology (Shanghai) Co., Ltd. announced that they will report Q3, 2024 results on Oct 26, 2024 Reported Earnings • Aug 26
Second quarter 2024 earnings released: EPS: CN¥0.30 (vs CN¥0.12 loss in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.30 (up from CN¥0.12 loss in 2Q 2023). Revenue: CN¥1.62b (up 162% from 2Q 2023). Net income: CN¥135.8m (up CN¥176.4m from 2Q 2023). Profit margin: 8.4% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Semiconductor industry in China. Announcement • Jun 29
Smartsens Technology (Shanghai) Co., Ltd. to Report First Half, 2024 Results on Aug 24, 2024 Smartsens Technology (Shanghai) Co., Ltd. announced that they will report first half, 2024 results on Aug 24, 2024 Announcement • May 29
Smartsens Technology (Shanghai) Co., Ltd., Annual General Meeting, Jun 18, 2024 Smartsens Technology (Shanghai) Co., Ltd., Annual General Meeting, Jun 18, 2024, at 14:00 China Standard Time. Location: Building 8, Phase 4, No. 889, Tianlin Road, Minhang District, Shanghai China Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: CN¥0.04 (vs CN¥0.06 loss in 1Q 2023) First quarter 2024 results: EPS: CN¥0.04 (up from CN¥0.06 loss in 1Q 2023). Revenue: CN¥837.4m (up 84% from 1Q 2023). Net income: CN¥14.0m (up CN¥39.7m from 1Q 2023). Profit margin: 1.7% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 26% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Semiconductor industry in China. Announcement • Mar 30
Smartsens Technology (Shanghai) Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Smartsens Technology (Shanghai) Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Reported Earnings • Feb 24
Full year 2023 earnings released: EPS: CN¥0.03 (vs CN¥0.22 loss in FY 2022) Full year 2023 results: EPS: CN¥0.03 (up from CN¥0.22 loss in FY 2022). Revenue: CN¥2.86b (up 15% from FY 2022). Net income: CN¥13.7m (up CN¥96.5m from FY 2022). Profit margin: 0.5% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 28% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Semiconductor industry in China. Announcement • Oct 19
Smartsens Technology (Shanghai) Co., Ltd. (SHSE:688213) announces an Equity Buyback for CNY 50 million worth of its shares. Smartsens Technology (Shanghai) Co., Ltd. (SHSE:688213) announces a share repurchase program. Under the program, the company will repurchase up to CNY 50 million. The program will be valid for 12 months. New Risk • Oct 06
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 7.9% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 26
Second quarter 2023 earnings released: CN¥0.12 loss per share (vs CN¥0.014 loss in 2Q 2022) Second quarter 2023 results: CN¥0.12 loss per share (further deteriorated from CN¥0.014 loss in 2Q 2022). Revenue: CN¥618.4m (up 8.2% from 2Q 2022). Net loss: CN¥40.7m (loss widened 345% from 2Q 2022). Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Semiconductor industry in China. Reported Earnings • Mar 01
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: CN¥0.20 loss per share (down from CN¥1.11 profit in FY 2021). Revenue: CN¥2.48b (down 7.7% from FY 2021). Net loss: CN¥77.6m (down 120% from profit in FY 2021). Revenue missed analyst estimates by 22%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 40% p.a. on average during the next 2 years, compared to a 25% growth forecast for the Semiconductor industry in China. 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. 7 experienced directors. No highly experienced directors. 2 independent directors (5 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 29
Third quarter 2022 earnings released: CN¥0.33 loss per share (vs CN¥0.22 profit in 3Q 2021) Third quarter 2022 results: CN¥0.33 loss per share (down from CN¥0.22 profit in 3Q 2021). Revenue: CN¥644.9m (flat on 3Q 2021). Net loss: CN¥46.6m (down 160% from profit in 3Q 2021). Revenue is forecast to grow 53% p.a. on average during the next 2 years, compared to a 26% growth forecast for the Semiconductor industry in China. Reported Earnings • Aug 29
First half 2022 earnings released: EPS: CN¥0.01 (vs CN¥0.19 in 1H 2021) First half 2022 results: EPS: CN¥0.01 (down from CN¥0.19 in 1H 2021). Revenue: CN¥1.01b (up 87% from 1H 2021). Net income: CN¥4.98m (down 93% from 1H 2021). Profit margin: 0.5% (down from 13% in 1H 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 76%, compared to a 46% growth forecast for the Semiconductor industry in China. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥49.66, the stock trades at a forward P/E ratio of 45x. Average forward P/E is 38x in the Semiconductor industry in China. Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥59.62, the stock trades at a forward P/E ratio of 54x. Average forward P/E is 39x in the Semiconductor industry in China. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥56.00, the stock trades at a trailing P/E ratio of 57.5x. Average trailing P/E is 54x in the Semiconductor industry in China.