Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥712, the stock trades at a forward P/E ratio of 200x. Average forward P/E is 65x in the Semiconductor industry in China. Total returns to shareholders of 1,900% over the past three years. New Risk • Jun 09
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 84% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings are forecast to decline by an average of 84% per year for the foreseeable future. High level of non-cash earnings (79% accrual ratio). Board Change • May 20
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 Yang Rudai 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. Announcement • Mar 31
Shenzhen Techwinsemi Technology Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Shenzhen Techwinsemi Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Announcement • Feb 27
Shenzhen Techwinsemi Technology Co., Ltd., Annual General Meeting, Mar 20, 2026 Shenzhen Techwinsemi Technology Co., Ltd., Annual General Meeting, Mar 20, 2026, at 15:00 China Standard Time. Location: 4F, Building 4, No. 136, Zhongkang Road, Meilin Subdistrict, Futian District, Shenzhen, Guangdong China Announcement • Dec 31
Shenzhen Techwinsemi Technology Co., Ltd. to Report Fiscal Year 2025 Results on Apr 28, 2026 Shenzhen Techwinsemi Technology Co., Ltd. announced that they will report fiscal year 2025 results on Apr 28, 2026 Announcement • Oct 15
Twsc Presents Its Full-Stack Customized Consumer Storage Products and Solutions The global tech event GITEX GLOBAL 2025 opened at the Dubai World Trade Centre. TWSC presented its full-stack customized consumer storage products and solutions, leveraging innovative storage technologies to empower AI and high-performance computing, accelerate global expansion, and support the growth of the AI ecosystem. Driven by the global wave of AI-powered digitalization, consumer electronics have become a key growth engine for the storage market. Leveraging its strategic location connecting Asia, Europe, and Africa, along with supportive national policies, the Middle East is rapidly emerging as a hub for technology investment. This presents Chinese storage companies with important opportunities for technology export and supply chain collaboration. TWSC is using GITEX as a platform to deepen its regional presence, advancing its transition from "going global" to "integrating locally." Targeting AI devices and creative applications, TWSC showcased three major categories of consumer storage products: Solid-State Drives (SSD): Supporting PCIe 4.0/5.0 standards, with read speeds up to 12,000MB/s and capacities up to 4TB, featuring intelligent thermal control and high-temperature stability. DDR5 Memory Modules: Offering capacities up to 96GB, supporting one-click overclocking beyond 10,000MHz, significantly enhancing gaming and AI multitasking performance. Mobile Storage Series: PSSD and MicroSD products with high-speed transmission, shock resistance, and heat tolerance, suitable for drones and action cameras. Localization and Collaboration for Industrial Synergy: As part of its globalization strategy, TWSC is evolving from "product export" to "ecosystem integration." Leveraging its intelligent manufacturing base and R&D centers, the company is building localized channels and service networks to provide fast, customized, and one-stop support for regional customers. At the same time, TWSC is deepening cooperation with local partners in areas such as firmware customization and technical certification, driving coordinated and mutually beneficial growth across the regional supply chain. Looking ahead, TWSC will continue to leverage its end-to-end technological strengths in "Chip & Firmware & Scenario" to expand its global footprint and deliver high-performance, customized storage solutions for the AI era. Announcement • Sep 30
Shenzhen Techwinsemi Technology Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Shenzhen Techwinsemi Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Announcement • Jul 02
Shenzhen Techwinsemi Technology Co., Ltd. to Report First Half, 2025 Results on Aug 30, 2025 Shenzhen Techwinsemi Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 30, 2025 Announcement • May 22
Shenzhen Techwinsemi Technology Co., Ltd. Approves Cash Dividend for the Year 2024 Shenzhen Techwinsemi Technology Co., Ltd. at its AGM, held on 16 May 2025, approved cash dividend of CNY 3.00000000 per 10 shares (tax included) for the year 2024. Announcement • Apr 26
Shenzhen Techwinsemi Technology Co., Ltd., Annual General Meeting, May 16, 2025 Shenzhen Techwinsemi Technology Co., Ltd., Annual General Meeting, May 16, 2025, at 15:00 China Standard Time. Location: 24F, Building 1, No. 136, Zhongkang Road, Meilin Subdistrict, Futian District, Shenzhen, Guangdong China Announcement • Mar 31
Shenzhen Techwinsemi Technology Co., Ltd. to Report Q1, 2025 Results on Apr 30, 2025 Shenzhen Techwinsemi Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Announcement • Dec 31
Shenzhen Techwinsemi Technology Co., Ltd. to Report Fiscal Year 2024 Results on Apr 28, 2025 Shenzhen Techwinsemi Technology Co., Ltd. announced that they will report fiscal year 2024 results on Apr 28, 2025 Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.23 (vs CN¥0.14 loss in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.23 (up from CN¥0.14 loss in 3Q 2023). Revenue: CN¥1.42b (up 268% from 3Q 2023). Net income: CN¥34.1m (up CN¥65.8m from 3Q 2023). Profit margin: 2.4% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Semiconductor industry in China. Announcement • Sep 30
Shenzhen Techwinsemi Technology Co., Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Shenzhen Techwinsemi Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥75.23, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 27x in the Semiconductor industry in China. Total returns to shareholders of 30% over the past year. 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (71% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.8% average weekly change). Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: CN¥1.06 (vs CN¥0.56 loss in 2Q 2023) Second quarter 2024 results: EPS: CN¥1.06 (up from CN¥0.56 loss in 2Q 2023). Revenue: CN¥1.37b (up 373% from 2Q 2023). Net income: CN¥192.2m (up CN¥227.8m from 2Q 2023). Profit margin: 14% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Semiconductor industry in China. Announcement • Jun 29
Shenzhen Techwinsemi Technology Co., Ltd. to Report First Half, 2024 Results on Aug 31, 2024 Shenzhen Techwinsemi Technology Co., Ltd. announced that they will report first half, 2024 results on Aug 31, 2024 Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: CN¥1.73 (vs CN¥0.30 loss in 1Q 2023) First quarter 2024 results: EPS: CN¥1.73 (up from CN¥0.30 loss in 1Q 2023). Revenue: CN¥810.9m (up 169% from 1Q 2023). Net income: CN¥195.5m (up CN¥239.3m from 1Q 2023). Profit margin: 24% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Semiconductor industry in China. Announcement • Mar 30
Shenzhen Techwinsemi Technology Co., Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Shenzhen Techwinsemi Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Reported Earnings • Feb 27
Full year 2023 earnings released: EPS: CN¥0.22 (vs CN¥0.69 in FY 2022) Full year 2023 results: EPS: CN¥0.22 (down from CN¥0.69 in FY 2022). Revenue: CN¥1.78b (up 49% from FY 2022). Net income: CN¥25.0m (down 63% from FY 2022). Profit margin: 1.4% (down from 5.6% in FY 2022). Revenue is forecast to grow 26% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Semiconductor industry in China. Announcement • Dec 29
Shenzhen Techwinsemi Technology Co., Ltd. to Report Fiscal Year 2023 Results on Feb 27, 2024 Shenzhen Techwinsemi Technology Co., Ltd. announced that they will report fiscal year 2023 results on Feb 27, 2024 Reported Earnings • Nov 02
Third quarter 2023 earnings released: CN¥0.18 loss per share (vs CN¥0.13 profit in 3Q 2022) Third quarter 2023 results: CN¥0.18 loss per share (down from CN¥0.13 profit in 3Q 2022). Revenue: CN¥385.7m (up 30% from 3Q 2022). Net loss: CN¥31.8m (down 321% from profit in 3Q 2022). 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. New Risk • Aug 29
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). Share price has been highly volatile over the past 3 months (8.3% average weekly change). Earnings have declined by 6.6% per year over the past 5 years. Announcement • Jul 01
Shenzhen Techwinsemi Technology Co., Ltd. announced that it expects to receive CNY 1.25 billion in funding Shenzhen Techwinsemi Technology Co., Ltd. announced a private placement for the gross proceeds of CNY 1,250 million on June 30, 2023. The company will issue common shares in the transaction. Board Change • Jun 15
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 (3 non-independent directors). Independent Director Ruijing Zhang was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Jun 12
Shenzhen Techwinsemi Technology Co., Ltd. Approves Cash Dividend/10 Shares for 2022 Shenzhen Techwinsemi Technology Co., Ltd. at its Annual General Meeting of 2022 on 08 June 2023, during which the company approved Cash dividend/10 shares (tax included) of CNY 1.87090000. 