Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to CN¥76.35, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 62x in the Semiconductor industry in China. Total returns to shareholders of 11% over the past three years. Announcement • Jun 30
Wuxi Chipown Micro-electronics limited to Report First Half, 2026 Results on Aug 15, 2026 Wuxi Chipown Micro-electronics limited announced that they will report first half, 2026 results on Aug 15, 2026 New Risk • Jun 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 8.4% 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 Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.4% average weekly change). Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥78.40, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 59x in the Semiconductor industry in China. Total returns to shareholders of 32% over the past three years. Declared Dividend • Jun 05
Dividend increased to CN¥0.45 Dividend of CN¥0.45 is 13% higher than last year. Ex-date: 9th June 2026 Payment date: 9th June 2026 Dividend yield will be 0.5%, which is lower than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (37% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.4% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 123% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • May 20
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. 4 non-independent directors. Independent Director Jie Hui Li 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 • Mar 30
Wuxi Chipown Micro-electronics limited to Report Q1, 2026 Results on Apr 18, 2026 Wuxi Chipown Micro-electronics limited announced that they will report Q1, 2026 results on Apr 18, 2026 Announcement • Mar 25
Wuxi Chipown Micro-electronics limited, Annual General Meeting, Apr 16, 2026 Wuxi Chipown Micro-electronics limited, Annual General Meeting, Apr 16, 2026, at 10:00 China Standard Time. Location: 2F, No. 16, Changjiang Road, Xinwu District, Wuxi, Jiangsu China Announcement • Dec 26
Wuxi Chipown Micro-electronics limited to Report Fiscal Year 2025 Results on Mar 14, 2026 Wuxi Chipown Micro-electronics limited announced that they will report fiscal year 2025 results on Mar 14, 2026 Announcement • Sep 30
Wuxi Chipown Micro-electronics limited to Report Q3, 2025 Results on Oct 25, 2025 Wuxi Chipown Micro-electronics limited announced that they will report Q3, 2025 results on Oct 25, 2025 Announcement • Jun 30
Wuxi Chipown Micro-electronics limited to Report First Half, 2025 Results on Aug 16, 2025 Wuxi Chipown Micro-electronics limited announced that they will report first half, 2025 results on Aug 16, 2025 Announcement • Mar 29
Wuxi Chipown Micro-electronics limited, Annual General Meeting, Apr 22, 2025 Wuxi Chipown Micro-electronics limited, Annual General Meeting, Apr 22, 2025, at 10:00 China Standard Time. Location: 2F, No. 16, Changjiang Road, Xinwu District, Wuxi, Jiangsu China Announcement • Mar 28
Wuxi Chipown Micro-electronics limited to Report Q1, 2025 Results on Apr 17, 2025 Wuxi Chipown Micro-electronics limited announced that they will report Q1, 2025 results on Apr 17, 2025 Announcement • Dec 27
Wuxi Chipown Micro-electronics limited to Report Fiscal Year 2024 Results on Mar 29, 2025 Wuxi Chipown Micro-electronics limited announced that they will report fiscal year 2024 results on Mar 29, 2025 Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: CN¥0.26 (vs CN¥0.10 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.26 (up from CN¥0.10 in 3Q 2023). Revenue: CN¥253.9m (up 30% from 3Q 2023). Net income: CN¥33.3m (up 179% from 3Q 2023). Profit margin: 13% (up from 6.1% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Semiconductor industry in China. Announcement • Sep 30
Wuxi Chipown Micro-electronics limited to Report Q3, 2024 Results on Oct 26, 2024 Wuxi Chipown Micro-electronics limited announced that they will report Q3, 2024 results on Oct 26, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: CN¥0.16 (vs CN¥0.24 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.16 (down from CN¥0.24 in 2Q 2023). Revenue: CN¥249.9m (up 27% from 2Q 2023). Net income: CN¥20.1m (down 27% from 2Q 2023). Profit margin: 8.0% (down from 14% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Semiconductor industry in China. New Risk • Aug 17
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: 6.5% Last year net profit margin: 11% 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 Share price has been volatile over the past 3 months (7.8% average weekly change). Profit margins are more than 30% lower than last year (6.5% net profit margin). Shareholders have been diluted in the past year (15% increase in shares outstanding). New Risk • Jul 18
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 7.4% 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 (7.4% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (15% increase in shares outstanding). Announcement • Jun 28
Wuxi Chipown Micro-electronics limited to Report First Half, 2024 Results on Aug 17, 2024 Wuxi Chipown Micro-electronics limited announced that they will report first half, 2024 results on Aug 17, 2024 Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥36.10, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 29x in the Semiconductor industry in China. Total loss to shareholders of 37% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥15.05 per share. Reported Earnings • Apr 28
First quarter 2024 earnings released: EPS: CN¥0.18 (vs CN¥0.18 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.18 (in line with 1Q 2023). Revenue: CN¥203.3m (up 8.7% from 1Q 2023). Net income: CN¥23.8m (up 16% from 1Q 2023). Profit margin: 12% (in line with 1Q 2023). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Semiconductor industry in China. Announcement • Apr 13
Wuxi Chipown Micro-electronics limited, Annual General Meeting, May 07, 2024 Wuxi Chipown Micro-electronics limited, Annual General Meeting, May 07, 2024, at 10:00 China Standard Time. Announcement • Mar 29
Wuxi Chipown Micro-electronics limited to Report Q1, 2024 Results on Apr 27, 2024 Wuxi Chipown Micro-electronics limited announced that they will report Q1, 2024 results on Apr 27, 2024 Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥32.12, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 32x in the Semiconductor industry in China. Total loss to shareholders of 57% over the past year. Announcement • Mar 11
Wuxi Chipown Micro-electronics limited (SHSE:688508) announces an Equity Buyback for CNY 80 million worth of its shares. Wuxi Chipown Micro-electronics limited (SHSE:688508) announces a share repurchase program. Under the program, the company will repurchase up to CNY 80 million worth of its A shares. The shares will be repurchased at a price not more than CNY 53.24 per share. The purpose of the program is to maintain company value and shareholders’ equity. The funds for the repurchases are the company's own funds or loans from financial institutions. The program will be valid for a period of 3 months. Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: CN¥0.50 (vs CN¥0.79 in FY 2022) Full year 2023 results: EPS: CN¥0.50 (down from CN¥0.79 in FY 2022). Revenue: CN¥780.1m (up 8.4% from FY 2022). Net income: CN¥58.8m (down 35% from FY 2022). Profit margin: 7.5% (down from 13% 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 2 years, compared to a 24% growth forecast for the Semiconductor industry in China. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥31.27, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 25x in the Semiconductor industry in China. Announcement • Jan 26
Wuxi Chipown Micro-electronics limited (SHSE:688508) announces an Equity Buyback for CNY 80 million worth of its shares. Wuxi Chipown Micro-electronics limited (SHSE:688508) announces a share repurchase program. Under the program, the company will repurchase up to CNY 80 million worth of its shares. The shares will be repurchased at a price of CNY 67.55 per share. The repurchased shares will be used for employee stock ownership plan or equity incentives. The repurchases will be funded from own funds or loans from financial institutions. The program is valid for a period of 12 months. Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.10 (vs CN¥0.18 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.10 (down from CN¥0.18 in 3Q 2022). Revenue: CN¥195.7m (up 29% from 3Q 2022). Net income: CN¥11.9m (down 42% from 3Q 2022). Profit margin: 6.1% (down from 14% in 3Q 2022). Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Semiconductor industry in China. New Risk • Sep 17
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. 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 (11% net profit margin). Shareholders have been diluted in the past year (15% increase in shares outstanding). Reported Earnings • Aug 18
Second quarter 2023 earnings released: EPS: CN¥0.24 (vs CN¥0.22 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.24 (up from CN¥0.22 in 2Q 2022). Revenue: CN¥197.2m (up 3.7% from 2Q 2022). Net income: CN¥27.6m (up 12% from 2Q 2022). Profit margin: 14% (up from 13% in 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. Announcement • Jun 28
Wuxi Chipown Micro-electronics limited to Report First Half, 2023 Results on Aug 30, 2023 Wuxi Chipown Micro-electronics limited announced that they will report first half, 2023 results on Aug 30, 2023 Reported Earnings • Mar 17
Full year 2022 earnings released: EPS: CN¥0.79 (vs CN¥1.78 in FY 2021) Full year 2022 results: EPS: CN¥0.79 (down from CN¥1.78 in FY 2021). Revenue: CN¥719.6m (down 4.5% from FY 2021). Net income: CN¥89.8m (down 55% from FY 2021). Profit margin: 13% (down from 27% in FY 2021). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Semiconductor industry in China. 
