NAURA Technology Group (XSEC:002371) - Share price, News & Analysis

Q: What is the Fair Price of 2371 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

002371 (CN¥273.04) is trading above our estimate of [[fair value]] (CN¥58.15)

2371 fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	5/6
Past Performance	4/6
Financial Health	5/6
Dividends	0/6

2371 Stock Overview

NAURA Technology Group Co., Ltd. engages in the research, development, manufacture, and sale of electronic equipment and components in the People's Republic of China.

Rewards

Earnings are forecast to grow 37.5% per year

Earnings grew by 107.6% over the past year

Risk Analysis

High level of non-cash earnings

Shareholders have been diluted in the past year

NAURA Technology Group Competitors

TCL Zhonghuan Renewable Energy TechnologyLtd

SZSE:002129

CN¥189.8b

Hangzhou First Applied Material

SHSE:603806

CN¥87.2b

Zhejiang Jingsheng Mechanical & Electrical

SZSE:300316

CN¥86.9b

Xinjiang Daqo New EnergyLtd

SHSE:688303

CN¥131.5b

Price History & Performance

Summary of all time highs, changes and price drops for NAURA Technology Group
Historical stock prices
Current Share Price	CN¥273.04
52 Week High	CN¥452.78
52 Week Low	CN¥206.00
Beta	0.38
1 Month Change	1.13%
3 Month Change	-0.86%
1 Year Change	1.88%
3 Year Change	306.61%
5 Year Change	998.75%
Change since IPO	827.76%

Shareholder Returns

	2371	CN Semiconductor	CN Market
7D	3.1%	4.6%	2.3%
1Y	1.9%	-0.9%	-8.1%

Return vs Industry: 002371 exceeded the CN Semiconductor industry which returned -6.6% over the past year.

Return vs Market: 002371 exceeded the CN Market which returned -10.1% over the past year.

Price Volatility

Is 2371's price volatile compared to industry and market?
2371 volatility
2371 Average Weekly Movement	8.3%
Semiconductor Industry Average Movement	8.3%
Market Average Movement	7.3%
10% most volatile stocks in CN Market	10.2%
10% least volatile stocks in CN Market	5.1%

Stable Share Price: 002371 is not significantly more volatile than the rest of CN stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: 002371's weekly volatility (8%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2001	8,153	n/a	https://www.naura.com

NAURA Technology Group Co., Ltd. engages in the research, development, manufacture, and sale of electronic equipment and components in the People's Republic of China. The company offers semiconductor equipment, including etching equipment, physical vapor deposition and chemical vapor deposition equipment, oxidation/diffusion equipment, cleaning systems, annealing, and other semiconductor equipment, as well as flat panel display manufacturing equipment, gas mass flow controllers, and other components; and vacuum, atmosphere-protective, and continuous heat treatment equipment, as well as crystal growth equipment, which are used in new energy, new materials, vacuum electronics, aerospace and magnetic materials, and other fields. It also provides turn-key lithium ion battery solutions, including mixer series, coater series, slitting machine series, rolling mill series, winding machine series, laminating machine series, and automatic assembly lines for chip packaging, test equipment, drying equipment, battery pack production line, energy storage cabinets, and others.

NAURA Technology Group Fundamentals Summary

How do NAURA Technology Group's earnings and revenue compare to its market cap?
2371 fundamental statistics
Market Cap	CN¥143.95b
Earnings (TTM)	CN¥1.21b
Revenue (TTM)	CN¥10.40b

118.9x

P/E Ratio

13.8x

P/S Ratio

Is 2371 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
2371 income statement (TTM)
Revenue	CN¥10.40b
Cost of Revenue	CN¥6.24b
Gross Profit	CN¥4.16b
Other Expenses	CN¥2.95b
Earnings	CN¥1.21b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	2.30
Gross Margin	39.99%
Net Profit Margin	11.65%
Debt/Equity Ratio	1.8%

How did 2371 perform over the long term?

See historical performance and comparison

Dividends

0.08%

Current Dividend Yield

9%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is 2371 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2371?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for 2371. This is calculated by dividing 2371's market cap by their current preferred multiple.
What is 2371's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	CN¥143.95b

2371 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	13.2x
Enterprise Value/EBITDA	93.4x
PEG Ratio	3.2x

Price to Earnings Ratio vs Peers

How does 2371's PE Ratio compare to its peers?

2371 PE Ratio vs Peers

The above table shows the PE ratio for 2371 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	35.7x
002129 TCL Zhonghuan Renewable Energy TechnologyLtd	39.5x	15.2%	CN¥189.8b
603806 Hangzhou First Applied Material	42.8x	16.8%	CN¥87.2b
300316 Zhejiang Jingsheng Mechanical & Electrical	46.4x	23.6%	CN¥86.9b
688303 Xinjiang Daqo New EnergyLtd	13.9x	-13.1%	CN¥131.5b
002371 NAURA Technology Group	118.9x	37.5%	CN¥143.9b

Forward PE

Price-To-Earnings vs Peers: 002371 is expensive based on its Price-To-Earnings Ratio (118.9x) compared to the peer average (35.7x).

Price to Earnings Ratio vs Industry

How does 2371's PE Ratio compare vs other companies in the CN Semiconductor Industry?

Price-To-Earnings vs Industry: 002371 is expensive based on its Price-To-Earnings Ratio (118.9x) compared to the CN Semiconductor industry average (54.1x)

Price to Earnings Ratio vs Fair Ratio

What is 2371's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2371 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	118.9x
Fair PE Ratio	70.9x

Price-To-Earnings vs Fair Ratio: 002371 is expensive based on its Price-To-Earnings Ratio (118.9x) compared to the estimated Fair Price-To-Earnings Ratio (70.9x).

Share Price vs Fair Value

What is the Fair Price of 2371 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 002371 (CN¥273.04) is trading above our estimate of fair value (CN¥58.15)

Significantly Below Fair Value: 002371 is trading above our estimate of fair value.

Price to Earnings Growth Ratio

PEG Ratio: 002371 is poor value based on its PEG Ratio (3.2x)

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Future Growth

How is NAURA Technology Group forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

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

37.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 002371's forecast earnings growth (37.5% per year) is above the savings rate (3.2%).

Earnings vs Market: 002371's earnings (37.5% per year) are forecast to grow faster than the CN market (23.9% per year).

High Growth Earnings: 002371's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 002371's revenue (29.4% per year) is forecast to grow faster than the CN market (17.5% per year).

High Growth Revenue: 002371's revenue (29.4% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 002371's Return on Equity is forecast to be low in 3 years time (12.7%).

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Past Performance

How has NAURA Technology Group performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

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

46.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 002371 has a high level of non-cash earnings.

Growing Profit Margin: 002371's current net profit margins (11.6%) are higher than last year (8.9%).

Past Earnings Growth Analysis

Earnings Trend: 002371's earnings have grown significantly by 46.5% per year over the past 5 years.

Accelerating Growth: 002371's earnings growth over the past year (107.6%) exceeds its 5-year average (46.5% per year).

Earnings vs Industry: 002371 earnings growth over the past year (107.6%) exceeded the Semiconductor industry 68.3%.

Return on Equity

High ROE: 002371's Return on Equity (7.7%) is considered low.

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Financial Health

How is NAURA Technology Group'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: 002371's short term assets (CN¥22.5B) exceed its short term liabilities (CN¥11.6B).

Long Term Liabilities: 002371's short term assets (CN¥22.5B) exceed its long term liabilities (CN¥2.6B).

Debt to Equity History and Analysis

Debt Level: 002371 has more cash than its total debt.

Reducing Debt: 002371's debt to equity ratio has reduced from 11.9% to 1.8% over the past 5 years.

Debt Coverage: 002371's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: 002371 earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

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Dividend

What is NAURA Technology Group current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

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

0.075%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 002371's dividend (0.075%) isn’t notable compared to the bottom 25% of dividend payers in the CN market (0.48%).

High Dividend: 002371's dividend (0.075%) is low compared to the top 25% of dividend payers in the CN market (1.94%).

Stability and Growth of Payments

Stable Dividend: 002371 is not paying a notable dividend for the CN market, therefore no need to check if payments are stable.

Growing Dividend: 002371 is not paying a notable dividend for the CN market, therefore no need to check if payments are increasing.

Earnings Payout to Shareholders

Earnings Coverage: 002371 is not paying a notable dividend for the CN market.

Cash Payout to Shareholders

Cash Flow Coverage: 002371 is paying a dividend but the company has no free cash flows.

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Management

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

2.5yrs

Average board tenure

CEO

NAURA Technology Group has no CEO, or we have no data on them.

Board Members

Experienced Board: 002371's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.

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 6.2%.

Data	Last Updated (UTC time)
Company Analysis	2022/06/30 00:00
End of Day Share Price	2022/06/29 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31