Announcement • Jun 30
Changsha Jingjia Microelectronics Co., Ltd. to Report First Half, 2026 Results on Aug 21, 2026 Changsha Jingjia Microelectronics Co., Ltd. announced that they will report first half, 2026 results on Aug 21, 2026 New Risk • Jun 24
New major risk - Revenue and earnings growth Earnings have declined by 59% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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. This is currently the only risk that has been identified for the company. 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. 5 non-independent directors. Independent Director Yuxiang Ouyang was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 24
Changsha Jingjia Microelectronics Co., Ltd., Annual General Meeting, May 18, 2026 Changsha Jingjia Microelectronics Co., Ltd., Annual General Meeting, May 18, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Changsha, Hunan China Announcement • Mar 31
Changsha Jingjia Microelectronics Co., Ltd. to Report Q1, 2026 Results on Apr 24, 2026 Changsha Jingjia Microelectronics Co., Ltd. announced that they will report Q1, 2026 results on Apr 24, 2026 Announcement • Dec 31
Changsha Jingjia Microelectronics Co., Ltd. to Report Fiscal Year 2025 Results on Apr 24, 2026 Changsha Jingjia Microelectronics Co., Ltd. announced that they will report fiscal year 2025 results on Apr 24, 2026 Announcement • Sep 30
Changsha Jingjia Microelectronics Co., Ltd. to Report Q3, 2025 Results on Oct 29, 2025 Changsha Jingjia Microelectronics Co., Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 Announcement • Jul 02
Changsha Jingjia Microelectronics Co., Ltd. to Report First Half, 2025 Results on Aug 19, 2025 Changsha Jingjia Microelectronics Co., Ltd. announced that they will report first half, 2025 results on Aug 19, 2025 Announcement • Apr 25
Changsha Jingjia Microelectronics Co., Ltd. Proposes Final Cash Dividend for the Year 2024 Changsha Jingjia Microelectronics Co., Ltd. announced on 24 April 2025 the profit distribution proposal for the year 2024 as final cash dividend/10 shares (tax included) of CNY 0.60000000. Announcement • Apr 24
Changsha Jingjia Microelectronics Co., Ltd., Annual General Meeting, May 15, 2025 Changsha Jingjia Microelectronics Co., Ltd., Annual General Meeting, May 15, 2025, at 14:30 China Standard Time. Location: The Company's Meeting Room, Changsha, Hunan China Announcement • Mar 31
Changsha Jingjia Microelectronics Co., Ltd. to Report Q1, 2025 Results on Apr 24, 2025 Changsha Jingjia Microelectronics Co., Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025 Announcement • Dec 31
Changsha Jingjia Microelectronics Co., Ltd. to Report Fiscal Year 2024 Results on Apr 24, 2025 Changsha Jingjia Microelectronics Co., Ltd. announced that they will report fiscal year 2024 results on Apr 24, 2025 Reported Earnings • Oct 26
Third quarter 2024 earnings released: CN¥0.023 loss per share (vs CN¥0.029 profit in 3Q 2023) Third quarter 2024 results: CN¥0.023 loss per share (down from CN¥0.029 profit in 3Q 2023). Revenue: CN¥91.2m (down 27% from 3Q 2023). Net loss: CN¥10.3m (down 144% from profit in 3Q 2023). Revenue is forecast to grow 41% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has remained flat, which means it is well ahead of earnings. 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 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: Minor Risks Share price has been volatile over the past 3 months (8.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (15% net profit margin). Announcement • Sep 30
Changsha Jingjia Microelectronics Co., Ltd. to Report Q3, 2024 Results on Oct 26, 2024 Changsha Jingjia Microelectronics Co., Ltd. announced that they will report Q3, 2024 results on Oct 26, 2024 New Risk • Aug 30
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: 15% Last year net profit margin: 21% 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: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (15% net profit margin). Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: CN¥0.077 (vs CN¥0.19 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.077 (down from CN¥0.19 in 2Q 2023). Revenue: CN¥241.5m (down 14% from 2Q 2023). Net income: CN¥45.7m (down 28% from 2Q 2023). Profit margin: 19% (down from 23% in 2Q 2023). Revenue is forecast to grow 40% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • Jun 29
Changsha Jingjia Microelectronics Co., Ltd. to Report First Half, 2024 Results on Aug 29, 2024 Changsha Jingjia Microelectronics Co., Ltd. announced that they will report first half, 2024 results on Aug 29, 2024 Declared Dividend • Jun 01
Dividend of CN¥0.12 announced Dividend of CN¥0.12 is the same as last year. Ex-date: 5th June 2024 Payment date: 5th June 2024 Dividend yield will be 0.2%, which is lower than the industry average of 1.7%. Payout Ratios Payout ratio: 46%. Cash payout ratio: 31%. Announcement • May 31
Changsha Jingjia Microelectronics Co., Ltd. Announces Final Cash Dividend (A Shares) for 2023, Payable on 05 June 2024 Changsha Jingjia Microelectronics Co., Ltd. announced 2023 final profit distribution plan to be implemented (A shares): Cash dividend per 10 shares (tax included) of CNY 1.20000000. Record date: 04 June 2024; Ex-date: 05 June 2024; Payment date: 05 June 2024. Reported Earnings • Apr 26
Full year 2023 earnings released: EPS: CN¥0.13 (vs CN¥0.64 in FY 2022) Full year 2023 results: EPS: CN¥0.13 (down from CN¥0.64 in FY 2022). Revenue: CN¥713.2m (down 38% from FY 2022). Net income: CN¥59.7m (down 79% from FY 2022). Profit margin: 8.4% (down from 25% in FY 2022). Revenue is forecast to grow 52% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Apr 26
Changsha Jingjia Microelectronics Co., Ltd., Annual General Meeting, May 22, 2024 Changsha Jingjia Microelectronics Co., Ltd., Annual General Meeting, May 22, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Changsha, Hunan China Announcement • Mar 30
Changsha Jingjia Microelectronics Co., Ltd. to Report Q1, 2024 Results on Apr 25, 2024 Changsha Jingjia Microelectronics Co., Ltd. announced that they will report Q1, 2024 results on Apr 25, 2024 New Risk • Mar 27
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 9.8% 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: Minor Risks Share price has been volatile over the past 3 months (9.8% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (16% net profit margin). Announcement • Dec 29
Changsha Jingjia Microelectronics Co., Ltd. to Report Fiscal Year 2023 Results on Apr 25, 2024 Changsha Jingjia Microelectronics Co., Ltd. announced that they will report fiscal year 2023 results on Apr 25, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.029 (vs CN¥0.10 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.029 (down from CN¥0.10 in 3Q 2022). Revenue: CN¥124.1m (down 33% from 3Q 2022). Net income: CN¥23.2m (down 52% from 3Q 2022). Profit margin: 19% (down from 26% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 47% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. New Risk • Sep 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 28% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (16% net profit margin). Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: CN¥0.19 (vs CN¥0.11 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.19 (up from CN¥0.11 in 2Q 2022). Revenue: CN¥279.9m (up 54% from 2Q 2022). Net income: CN¥63.0m (up 33% from 2Q 2022). Profit margin: 23% (down from 26% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 41% 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 remained flat but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Announcement • Jun 02
Changsha Jingjia Microelectronics Co., Ltd. announced that it expects to receive CNY 4.20073 billion in funding Changsha Jingjia Microelectronics Co., Ltd. announced a private placement of not more than 136,550,000 A shares for gross proceeds of not more than CNY 4,200,730,000 on May 31, 2023. The issue price is not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from not more than 35 investors. All securities issued in the transaction have a hold period of six months from the issuance closing date. The transaction has been approved in the 16th Meeting of the company’s 4th Directorate, and is subject to the approvals of the company’s Shareholders, the State Administration of Science, Technology and Industry for National Defense, PRC, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission. Announcement • May 19
Changsha Jingjia Microelectronics Co., Ltd. Approves Dividend for the Year 2022 Changsha Jingjia Microelectronics Co., Ltd. announced at Annual General Meeting of 2022 held on 16 May 2023, the shareholders approved cash dividend of CNY 1.20000000 per ten shares (tax included) for the year 2022. Reported Earnings • Apr 26
First quarter 2023 earnings released: CN¥0.16 loss per share (vs CN¥0.17 profit in 1Q 2022) First quarter 2023 results: CN¥0.16 loss per share (down from CN¥0.17 profit in 1Q 2022). Revenue: CN¥65.2m (down 82% from 1Q 2022). Net loss: CN¥70.7m (down 191% from profit in 1Q 2022). Revenue is forecast to grow 56% 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 increased by 8% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 17
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Xiaoyou Yu was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 29
Third quarter 2022 earnings released: EPS: CN¥0.10 (vs CN¥0.27 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.10 (down from CN¥0.27 in 3Q 2021). Revenue: CN¥185.4m (down 45% from 3Q 2021). Net income: CN¥48.4m (down 61% from 3Q 2021). Profit margin: 26% (down from 37% in 3Q 2021). Revenue is forecast to grow 42% 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 19% per year whereas the company’s share price has increased by 18% per year. Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥47.33, the stock trades at a forward P/E ratio of 45x. Average forward P/E is 30x in the Semiconductor industry in China. Total returns to shareholders of 22% over the past three years. Reported Earnings • Aug 09
Second quarter 2022 earnings released: EPS: CN¥0.11 (vs CN¥0.17 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.11 (down from CN¥0.17 in 2Q 2021). Revenue: CN¥182.1m (down 31% from 2Q 2021). Net income: CN¥47.4m (down 38% from 2Q 2021). Profit margin: 26% (down from 29% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 87%, compared to a 48% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 29
First quarter 2022 earnings released: EPS: CN¥0.26 (vs CN¥0.16 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.26 (up from CN¥0.16 in 1Q 2021). Revenue: CN¥361.8m (up 70% from 1Q 2021). Net income: CN¥77.3m (up 58% from 1Q 2021). Profit margin: 21% (down from 23% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 58%, compared to a 44% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 24% per year. Reported Earnings • Apr 09
Full year 2021 earnings released: EPS: CN¥0.97 (vs CN¥0.69 in FY 2020) Full year 2021 results: EPS: CN¥0.97 (up from CN¥0.69 in FY 2020). Revenue: CN¥1.09b (up 67% from FY 2020). Net income: CN¥292.7m (up 41% from FY 2020). Profit margin: 27% (down from 32% in FY 2020). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 63%, compared to a 47% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 26% per year. Reported Earnings • Aug 20
Second quarter 2021 earnings released: EPS CN¥0.26 (vs CN¥0.23 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: CN¥262.7m (up 37% from 2Q 2020). Net income: CN¥77.0m (up 21% from 2Q 2020). Profit margin: 29% (down from 33% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS CN¥0.16 (vs CN¥0.08 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥212.4m (up 80% from 1Q 2020). Net income: CN¥48.9m (up 92% from 1Q 2020). Profit margin: 23% (up from 22% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 12
Full year 2020 earnings released: EPS CN¥0.69 (vs CN¥0.58 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: CN¥653.8m (up 23% from FY 2019). Net income: CN¥208.0m (up 18% from FY 2019). Profit margin: 32% (down from 33% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 13% per year. Analyst Estimate Surprise Post Earnings • Mar 12
Revenue misses expectations Revenue missed analyst estimates by 7.0%. Over the next year, revenue is forecast to grow 67%, compared to a 47% growth forecast for the Semiconductor industry in China. Is New 90 Day High Low • Dec 29
New 90-day high: CN¥68.14 The company is up 8.0% from its price of CN¥63.13 on 30 September 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥17.14 per share. Is New 90 Day High Low • Nov 02
New 90-day low: CN¥57.89 The company is down 27% from its price of CN¥79.80 on 04 August 2020. The Chinese market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is down 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥14.99 per share. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥199.6m, up 20% from the prior year. Total revenue was CN¥611.5m over the last 12 months, up 25% from the prior year. Is New 90 Day High Low • Oct 16
New 90-day low: CN¥62.82 The company is down 10.0% from its price of CN¥69.50 on 17 July 2020. The Chinese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥15.20 per share. Is New 90 Day High Low • Sep 28
New 90-day low: CN¥62.97 The company is down 6.0% from its price of CN¥67.30 on 30 June 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥15.00 per share.