Reported Earnings • Apr 24
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.62 (up from CN¥0.08 in FY 2024). Revenue: CN¥431.7m (up 42% from FY 2024). Net income: CN¥133.0m (up CN¥115.1m from FY 2024). Profit margin: 31% (up from 5.9% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 8.7%. Earnings per share (EPS) also missed analyst estimates by 7.1%. Revenue is forecast to grow 42% p.a. on average during the next 2 years, compared to a 27% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 54% per year, which means it is well ahead of earnings. Announcement • Apr 23
Great Microwave Technology Co., Ltd., Annual General Meeting, May 15, 2026 Great Microwave Technology Co., Ltd., Annual General Meeting, May 15, 2026, at 14:00 China Standard Time. Location: Building 7, No. 428, Zhiqiang Road, Sandun Town, Xihu District, Hangzhou, Zhejiang China Announcement • Mar 30
Great Microwave Technology Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Great Microwave Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 Announcement • Dec 26
Great Microwave Technology Co., Ltd. to Report Fiscal Year 2025 Results on Apr 23, 2026 Great Microwave Technology Co., Ltd. announced that they will report fiscal year 2025 results on Apr 23, 2026 Reported Earnings • Oct 24
Third quarter 2025 earnings released: EPS: CN¥0.18 (vs CN¥0.036 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.18 (up from CN¥0.036 in 3Q 2024). Revenue: CN¥97.5m (up 51% from 3Q 2024). Net income: CN¥38.6m (up 338% from 3Q 2024). Profit margin: 40% (up from 14% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 39% 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 31% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
Great Microwave Technology Co., Ltd. to Report Q3, 2025 Results on Oct 24, 2025 Great Microwave Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 24, 2025 Major Estimate Revision • Aug 19
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from CN¥468.9m to CN¥491.1m. EPS estimate increased from CN¥0.70 to CN¥0.79 per share. Net income forecast to grow 211% next year vs 58% growth forecast for Semiconductor industry in China. Consensus price target up from CN¥44.80 to CN¥71.10. Share price rose 23% to CN¥72.91 over the past week. Price Target Changed • Aug 15
Price target increased by 59% to CN¥71.10 Up from CN¥44.80, the current price target is provided by 1 analyst. New target price is 5.4% above last closing price of CN¥67.46. Stock is up 195% over the past year. The company is forecast to post earnings per share of CN¥0.79 for next year compared to CN¥0.08 last year. New Risk • Aug 13
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 6.6% 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 (25% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.6% average weekly change). Announcement • Jun 30
Great Microwave Technology Co., Ltd. to Report First Half, 2025 Results on Aug 23, 2025 Great Microwave Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 23, 2025 Major Estimate Revision • Apr 04
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥530.9m to CN¥468.9m. EPS estimate fell from CN¥0.86 to CN¥0.70 per share. Net income forecast to grow 735% next year vs 56% growth forecast for Semiconductor industry in China. Consensus price target up from CN¥43.00 to CN¥44.80. Share price rose 6.1% to CN¥39.79 over the past week. Reported Earnings • Mar 30
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.08 (down from CN¥0.34 in FY 2023). Revenue: CN¥303.4m (up 8.0% from FY 2023). Net income: CN¥17.8m (down 75% from FY 2023). Profit margin: 5.9% (down from 26% in FY 2023). Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 81%. Revenue is forecast to grow 32% 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 43% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Mar 29
Great Microwave Technology Co., Ltd., Annual General Meeting, Apr 23, 2025 Great Microwave Technology Co., Ltd., Annual General Meeting, Apr 23, 2025, at 14:00 China Standard Time. Location: Building 7, No. 428, Zhiqiang Road, Sandun Town, Xihu District, Hangzhou, Zhejiang China Announcement • Mar 28
Great Microwave Technology Co., Ltd. to Report Q1, 2025 Results on Apr 23, 2025 Great Microwave Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 23, 2025 Reported Earnings • Feb 26
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.08 (down from CN¥0.34 in FY 2023). Revenue: CN¥303.5m (up 8.1% from FY 2023). Net income: CN¥18.1m (down 75% from FY 2023). Profit margin: 6.0% (down from 26% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 81%. Revenue is forecast to grow 43% 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 fallen by 43% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Dec 27
Great Microwave Technology Co., Ltd. to Report Fiscal Year 2024 Results on Mar 29, 2025 Great Microwave Technology Co., Ltd. announced that they will report fiscal year 2024 results on Mar 29, 2025 Announcement • Dec 03
Great Microwave Technology Co., Ltd. (SHSE:688270) announces an Equity Buyback for CNY 40 million worth of its shares. Great Microwave Technology Co., Ltd. (SHSE:688270) announces a share repurchase program. Under the program, the company will repurchase up to CNY 40 million worth of its common stock. The shares will be repurchase at a price of CNY 38.13 per share. The repurchased shares will be used to convert corporate bonds issued by listed companies that can be converted into shares. The company will use its own funds to repurchase the company's shares through centralized bidding transactions. The program will be valid for 12 months. Major Estimate Revision • Oct 31
Consensus EPS estimates fall by 13% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from CN¥0.48 to CN¥0.42. Revenue forecast unchanged from CN¥353.7m at last update. Net income forecast to grow 239% next year vs 60% growth forecast for Semiconductor industry in China. Consensus price target up from CN¥27.84 to CN¥43.00. Share price was steady at CN¥34.78 over the past week. Price Target Changed • Oct 29
Price target increased by 54% to CN¥43.00 Up from CN¥27.84, the current price target is provided by 1 analyst. New target price is 22% above last closing price of CN¥35.13. Stock is down 12% over the past year. The company is forecast to post earnings per share of CN¥0.42 for next year compared to CN¥0.34 last year. New Risk • Oct 25
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 35% 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). High level of non-cash earnings (35% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (16% net profit margin). Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: CN¥0.036 (vs CN¥0.029 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.036 (up from CN¥0.029 in 3Q 2023). Revenue: CN¥64.4m (up 8.7% from 3Q 2023). Net income: CN¥8.83m (up 38% from 3Q 2023). Profit margin: 14% (up from 11% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 42% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Semiconductor industry in China. New Risk • Sep 30
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 9.4% 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 Risk Share price has been highly volatile over the past 3 months (9.4% average weekly change). Minor Risk Profit margins are more than 30% lower than last year (16% net profit margin). Announcement • Sep 30
Great Microwave Technology Co., Ltd. to Report Q3, 2024 Results on Oct 25, 2024 Great Microwave Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 25, 2024 Major Estimate Revision • Aug 23
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥403.8m to CN¥353.7m. EPS estimate fell from CN¥0.579 to CN¥0.48 per share. Net income forecast to grow 109% next year vs 53% growth forecast for Semiconductor industry in China. Consensus price target down from CN¥42.81 to CN¥27.84. Share price fell 9.9% to CN¥20.63 over the past week. Price Target Changed • Aug 22
Price target decreased by 38% to CN¥27.84 Down from CN¥44.79, the current price target is provided by 1 analyst. New target price is 33% above last closing price of CN¥20.90. Stock is down 39% over the past year. The company is forecast to post earnings per share of CN¥0.58 for next year compared to CN¥0.34 last year. New Risk • Jul 23
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 7.3% 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 Risk High level of non-cash earnings (23% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Profit margins are more than 30% lower than last year (20% net profit margin). Announcement • Jun 28
Great Microwave Technology Co., Ltd. to Report First Half, 2024 Results on Aug 23, 2024 Great Microwave Technology Co., Ltd. announced that they will report first half, 2024 results on Aug 23, 2024 Reported Earnings • Apr 27
First quarter 2024 earnings released: CN¥0.04 loss per share (vs CN¥0.05 profit in 1Q 2023) First quarter 2024 results: CN¥0.04 loss per share (down from CN¥0.05 profit in 1Q 2023). Revenue: CN¥53.9m (up 29% from 1Q 2023). Net loss: CN¥5.68m (down 178% from profit in 1Q 2023). Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Semiconductor industry in China. Major Estimate Revision • Apr 05
Consensus EPS estimates fall by 28% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥424.2m to CN¥403.8m. EPS estimate also fell from CN¥1.12 per share to CN¥0.81 per share. Net income forecast to grow 71% next year vs 58% growth forecast for Semiconductor industry in China. Consensus price target broadly unchanged at CN¥62.71. Share price rose 2.4% to CN¥52.58 over the past week. Reported Earnings • Apr 01
Full year 2023 earnings released: EPS: CN¥0.47 (vs CN¥0.72 in FY 2022) Full year 2023 results: EPS: CN¥0.47 (down from CN¥0.72 in FY 2022). Revenue: CN¥280.8m (up 16% from FY 2022). Net income: CN¥72.5m (down 33% from FY 2022). Profit margin: 26% (down from 44% in FY 2022). The decrease in margin was driven by higher expenses. 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. Announcement • Mar 30
Great Microwave Technology Co., Ltd., Annual General Meeting, Apr 25, 2024 Great Microwave Technology Co., Ltd., Annual General Meeting, Apr 25, 2024, at 14:00 China Standard Time. Location: Building 7, No. 428, Zhiqiang Road, Sandun Town, Xihu District, Hangzhou, Zhejiang China Announcement • Mar 29
Great Microwave Technology Co., Ltd. to Report Q1, 2024 Results on Apr 26, 2024 Great Microwave Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Reported Earnings • Feb 27
Full year 2023 earnings released: EPS: CN¥0.50 (vs CN¥0.72 in FY 2022) Full year 2023 results: EPS: CN¥0.50 (down from CN¥0.72 in FY 2022). Revenue: CN¥283.5m (up 17% from FY 2022). Net income: CN¥76.3m (down 29% from FY 2022). Profit margin: 27% (down from 44% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 36% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Semiconductor industry in China. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥39.23, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 24x in the Semiconductor industry in China. Total loss to shareholders of 48% over the past year. New Risk • Nov 20
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 8.6% 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 (8.6% average weekly change). High level of non-cash earnings (23% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (29% net profit margin). Major Estimate Revision • Nov 02
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¥335.8m to CN¥318.9m. EPS estimate also fell from CN¥1.00 per share to CN¥0.894 per share. Net income forecast to grow 125% next year vs 76% growth forecast for Semiconductor industry in China. Consensus price target down from CN¥64.89 to CN¥63.14. Share price was steady at CN¥51.01 over the past week. New Risk • Oct 27
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 29% Last year net profit margin: 54% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (23% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Profit margins are more than 30% lower than last year (29% net profit margin). Reported Earnings • Aug 16
Second quarter 2023 earnings released: EPS: CN¥0.16 (vs CN¥0.28 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.16 (down from CN¥0.28 in 2Q 2022). Revenue: CN¥69.6m (down 5.4% from 2Q 2022). Net income: CN¥26.3m (down 40% from 2Q 2022). Profit margin: 38% (down from 59% in 2Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 38% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Semiconductor industry in China. Announcement • Jun 28
Great Microwave Technology Co., Ltd. to Report First Half, 2023 Results on Aug 16, 2023 Great Microwave Technology Co., Ltd. announced that they will report first half, 2023 results on Aug 16, 2023 Reported Earnings • Apr 22
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥1.01. Revenue: CN¥242.6m (up 27% from FY 2021). Net income: CN¥107.7m (up 9.0% from FY 2021). Profit margin: 44% (down from 52% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 20%. Revenue is forecast to grow 36% p.a. on average during the next 2 years, compared to a 25% growth forecast for the Semiconductor industry in China. Announcement • Feb 02
A group of unknown buyers agreed to acquire 4.18% shares of Great Microwave Technology Co., Ltd. (SHSE:688270) from Ningbo Linghui Equity Investment Partnership Enterprise (Limited Partnership), Shanghai Lingrui Venture Capital Co., Ltd., Suzhou Hanning Venture Capital Partnership Enterprise (Limited Partnership), Liang Weidong, Qiao Guibin, Yan Bo, Ningbo Zhelv Junrong Venture Capital Partnership Enterprise (Limited Partnership) for CNY 444 million A group of unknown buyers agreed to acquire 4.18% shares of Great Microwave Technology Co., Ltd. (SHSE:688270) from Ningbo Linghui Equity Investment Partnership Enterprise (Limited Partnership), Shanghai Lingrui Venture Capital Co., Ltd., Suzhou Hanning Venture Capital Partnership Enterprise (Limited Partnership), Liang Weidong, Qiao Guibin, Yan Bo, Ningbo Zhelv Junrong Venture Capital Partnership Enterprise (Limited Partnership) for CNY 444 million on January 31, 2023. Transfer price is CNY 97 per share and total number of shares to be acquired is 4,573,148 shares. Transaction is subject to the final handling result of China Securities Depository and Clearing Corporation Shanghai Branch. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Director Guomin Weng was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 21
Third quarter 2022 earnings released: EPS: CN¥0.19 (vs CN¥0.005 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.19 (up from CN¥0.005 in 3Q 2021). Revenue: CN¥44.3m (up 171% from 3Q 2021). Net income: CN¥21.0m (up CN¥20.6m from 3Q 2021). Profit margin: 47% (up from 2.4% in 3Q 2021). The increase in margin was driven by higher revenue. 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. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: CN¥0.39 (vs CN¥0.005 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.39 (up from CN¥0.005 in 2Q 2021). Revenue: CN¥73.5m (up 350% from 2Q 2021). Net income: CN¥43.5m (up CN¥43.1m from 2Q 2021). Profit margin: 59% (up from 2.4% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 55%, compared to a 46% growth forecast for the Semiconductor industry in China. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥65.50, the stock trades at a forward P/E ratio of 47x. Average forward P/E is 36x in the Semiconductor industry in China. Reported Earnings • Apr 08
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: CN¥1.21 (up from CN¥0.94 in FY 2020). Revenue: CN¥190.6m (up 25% from FY 2020). Net income: CN¥98.8m (up 28% from FY 2020). Profit margin: 52% (up from 51% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) exceeded analyst estimates by 34%. Over the next year, revenue is forecast to grow 42%, compared to a 47% growth forecast for the industry in China. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥56.50, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 38x in the Semiconductor industry in China. Announcement • Jan 26
Great Microwave Technology Co., Ltd. has completed an IPO in the amount of CNY 1.689943 billion. Great Microwave Technology Co., Ltd. has completed an IPO in the amount of CNY 1.689943 billion.
Security Name: A Shares
Security Type: Common Stock
Securities Offered: 27,310,000
Price\Range: CNY 61.88
Transaction Features: Sponsor Backed Offering