Reported Earnings • May 01
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: CN¥0.15 loss per share (down from CN¥0.21 profit in 1Q 2025). Revenue: CN¥816.4m (down 94% from 1Q 2025). Net loss: CN¥189.3m (down 172% from profit in 1Q 2025). Revenue missed analyst estimates by 78%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Electronic industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Announcement • Mar 30
Wingtech Technology Co.,Ltd to Report Q1, 2026 Results on Apr 30, 2026 Wingtech Technology Co.,Ltd announced that they will report Q1, 2026 results on Apr 30, 2026 Announcement • Dec 26
Wingtech Technology Co.,Ltd to Report Fiscal Year 2025 Results on Apr 30, 2026 Wingtech Technology Co.,Ltd announced that they will report fiscal year 2025 results on Apr 30, 2026 Reported Earnings • Oct 25
Third quarter 2025 earnings: EPS exceeds analyst expectations Third quarter 2025 results: EPS: CN¥0.85 (up from CN¥0.23 in 3Q 2024). Revenue: CN¥4.43b (down 77% from 3Q 2024). Net income: CN¥1.04b (up 279% from 3Q 2024). Profit margin: 24% (up from 1.4% in 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 52%. Revenue is expected to decline by 29% p.a. on average during the next 3 years, while revenues in the Electronic industry in China are expected to grow by 21%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance. Announcement • Sep 30
Wingtech Technology Co.,Ltd to Report Q3, 2025 Results on Oct 25, 2025 Wingtech Technology Co.,Ltd announced that they will report Q3, 2025 results on Oct 25, 2025 Buy Or Sell Opportunity • Sep 15
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 39% to CN¥43.53. The fair value is estimated to be CN¥35.79, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.4% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Aug 31
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: EPS: CN¥0.17 (up from CN¥0.002 loss in 2Q 2024). Revenue: CN¥12.2b (down 29% from 2Q 2024). Net income: CN¥212.3m (up CN¥215.3m from 2Q 2024). Profit margin: 1.7% (up from 0% in 2Q 2024). Revenue exceeded analyst estimates by 30%. Earnings per share (EPS) missed analyst estimates by 50%. Revenue is expected to decline by 33% p.a. on average during the next 3 years, while revenues in the Electronic industry in China are expected to grow by 20%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Aug 20
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 9.6% to CN¥39.24. The fair value is estimated to be CN¥31.77, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.4% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jul 29
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 9.7% to CN¥38.02. The fair value is estimated to be CN¥31.51, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.4% over the last 3 years. Meanwhile, the company became loss making. Announcement • Jun 30
Wingtech Technology Co.,Ltd to Report First Half, 2025 Results on Aug 30, 2025 Wingtech Technology Co.,Ltd announced that they will report first half, 2025 results on Aug 30, 2025 Price Target Changed • May 31
Price target increased by 20% to CN¥50.09 Up from CN¥41.90, the current price target is an average from 7 analysts. New target price is 47% above last closing price of CN¥33.96. Stock is up 11% over the past year. The company is forecast to post earnings per share of CN¥1.84 next year compared to a net loss per share of CN¥2.28 last year. Board Change • Apr 29
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. 3 experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Chairman & CEO Qiuhong Zhang is the most experienced director on the board, commencing their role in 2017. Independent Director Xiaohong Huang was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Apr 28
Wingtech Technology Co.,Ltd, Annual General Meeting, May 16, 2025 Wingtech Technology Co.,Ltd, Annual General Meeting, May 16, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Huangshi, Hubei China Reported Earnings • Apr 27
First quarter 2025 earnings released: EPS: CN¥0.21 (vs CN¥0.12 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.21 (up from CN¥0.12 in 1Q 2024). Revenue: CN¥13.1b (down 19% from 1Q 2024). Net income: CN¥261.4m (up 82% from 1Q 2024). Profit margin: 2.0% (up from 0.9% in 1Q 2024). Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electronic industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Announcement • Apr 14
Wingtech Technology Co.,Ltd (SHSE:600745) announces an Equity Buyback for CNY 400 million worth of its shares. Wingtech Technology Co.,Ltd (SHSE:600745) announces a share repurchase program. Under the program, the company will repurchase up to CNY 400 million worth of its shares. The shares will be repurchased at no more than CNY 50 per share. The shares repurchased are intended to be used for the employee stock ownership plan at an appropriate time in the future. The program will be funded from company's own funds. The program will be valid till April 10, 2026. Announcement • Mar 28
Wingtech Technology Co.,Ltd to Report Q1, 2025 Results on Apr 26, 2025 Wingtech Technology Co.,Ltd announced that they will report Q1, 2025 results on Apr 26, 2025 Buy Or Sell Opportunity • Mar 13
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.0% to CN¥35.28. The fair value is estimated to be CN¥44.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.4% over the last 3 years. Meanwhile, the company became loss making. Announcement • Mar 07
Wingtech Technology Co.,Ltd (SHSE:600745) announces an Equity Buyback for CNY 200 million worth of its shares. Wingtech Technology Co.,Ltd (SHSE:600745) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its shares. The shares will be repurchased at no more than CNY 50 per share. The shares repurchased this time are intended to be used for the employee stock ownership plan at an appropriate time in the future. The program will be funded from company's own funds. The program will be valid till March 6, 2026. Buy Or Sell Opportunity • Feb 18
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 20% to CN¥34.32. The fair value is estimated to be CN¥43.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.4% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jan 02
Now 23% undervalued Over the last 90 days, the stock has risen 14% to CN¥37.15. The fair value is estimated to be CN¥48.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.4% over the last 3 years. Meanwhile, the company became loss making. Price Target Changed • Jan 01
Price target decreased by 21% to CN¥39.55 Down from CN¥50.01, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of CN¥38.78. Stock is down 5.0% over the past year. The company is forecast to post earnings per share of CN¥0.95 for next year compared to CN¥0.95 last year. Announcement • Dec 27
Wingtech Technology Co.,Ltd to Report Fiscal Year 2024 Results on Apr 26, 2025 Wingtech Technology Co.,Ltd announced that they will report fiscal year 2024 results on Apr 26, 2025 Announcement • Dec 19
Wingtech Technology Co.,Ltd(SHSE:600745) dropped from SSE 180 Index Wingtech Technology Co.,Ltd has been removed from SSE 180 Index . Announcement • Dec 18
Wingtech Technology Co.,Ltd(SHSE:600745) dropped from Shanghai Stock Exchange 180 Value Index Wingtech Technology Co.,Ltd has been removed from Shanghai Stock Exchange 180 Value Index . Buy Or Sell Opportunity • Nov 25
Now 21% undervalued Over the last 90 days, the stock has risen 61% to CN¥39.20. The fair value is estimated to be CN¥49.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.4% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Oct 26
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: CN¥0.23 (down from CN¥0.68 in 3Q 2023). Revenue: CN¥19.6b (up 29% from 3Q 2023). Net income: CN¥274.1m (down 67% from 3Q 2023). Profit margin: 1.4% (down from 5.5% in 3Q 2023). Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) also surpassed analyst estimates by 10.0%. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as 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 6.9% 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 (6.9% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.1% net profit margin). Announcement • Sep 30
Wingtech Technology Co.,Ltd to Report Q3, 2024 Results on Oct 26, 2024 Wingtech Technology Co.,Ltd announced that they will report Q3, 2024 results on Oct 26, 2024 Major Estimate Revision • Sep 04
Consensus EPS estimates fall by 50%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from CN¥67.5b to CN¥68.3b. EPS estimate fell from CN¥1.55 to CN¥0.77 per share. Net income forecast to grow 2,615% next year vs 52% growth forecast for Electronic industry in China. Consensus price target broadly unchanged at CN¥48.02. Share price rose 5.6% to CN¥25.58 over the past week. Reported Earnings • Aug 29
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: CN¥0.002 loss per share (down from CN¥0.64 profit in 2Q 2023). Revenue: CN¥17.3b (up 17% from 2Q 2023). Net loss: CN¥2.98m (down 100% from profit in 2Q 2023). Profit margin: 0% (down from 5.4% in 2Q 2023). Revenue exceeded analyst estimates by 8.0%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 38% per year whereas the company’s share price has fallen by 40% per year. Buy Or Sell Opportunity • Jul 01
Now 34% undervalued after recent price drop Over the last 90 days, the stock has fallen 24% to CN¥28.06. The fair value is estimated to be CN¥42.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Earnings per share has declined by 26%. For the next 3 years, revenue is forecast to grow by 8.3% per annum. Earnings are also forecast to grow by 30% per annum over the same time period. Announcement • Jun 28
Wingtech Technology Co.,Ltd to Report First Half, 2024 Results on Aug 29, 2024 Wingtech Technology Co.,Ltd announced that they will report first half, 2024 results on Aug 29, 2024 Buy Or Sell Opportunity • Jun 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 21% to CN¥31.13. The fair value is estimated to be CN¥39.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Earnings per share has declined by 26%. For the next 3 years, revenue is forecast to grow by 8.6% per annum. Earnings are also forecast to grow by 32% per annum over the same time period. Price Target Changed • Jun 13
Price target decreased by 15% to CN¥46.77 Down from CN¥55.34, the current price target is an average from 8 analysts. New target price is 55% above last closing price of CN¥30.16. Stock is down 41% over the past year. The company is forecast to post earnings per share of CN¥1.29 for next year compared to CN¥0.95 last year. Buy Or Sell Opportunity • May 24
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to CN¥29.63. The fair value is estimated to be CN¥37.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Earnings per share has declined by 26%. For the next 3 years, revenue is forecast to grow by 9.0% per annum. Earnings are also forecast to grow by 33% per annum over the same time period. Announcement • May 19
Wingtech Technology Co.,Ltd, Annual General Meeting, Jun 14, 2024 Wingtech Technology Co.,Ltd, Annual General Meeting, Jun 14, 2024, at 14:00 China Standard Time. Price Target Changed • Apr 27
Price target decreased by 11% to CN¥60.38 Down from CN¥67.96, the current price target is an average from 11 analysts. New target price is 95% above last closing price of CN¥31.04. Stock is down 41% over the past year. The company is forecast to post earnings per share of CN¥1.06 for next year compared to CN¥0.95 last year. Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: CN¥0.12 (vs CN¥0.37 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.12 (down from CN¥0.37 in 1Q 2023). Revenue: CN¥16.2b (up 13% from 1Q 2023). Net income: CN¥143.4m (down 69% from 1Q 2023). Profit margin: 0.9% (down from 3.2% in 1Q 2023). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 26% per year whereas the company’s share price has fallen by 29% per year. Announcement • Mar 29
Wingtech Technology Co.,Ltd to Report Q1, 2024 Results on Apr 23, 2024 Wingtech Technology Co.,Ltd announced that they will report Q1, 2024 results on Apr 23, 2024 Buy Or Sell Opportunity • Mar 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to CN¥39.42. The fair value is estimated to be CN¥50.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years. Earnings per share has declined by 23%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 24% per annum over the same time period. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥42.06, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 21x in the Electronic industry in China. Total loss to shareholders of 60% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥49.94 per share. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥30.20, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 17x in the Electronic industry in China. Total loss to shareholders of 72% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥43.35 per share. Buy Or Sell Opportunity • Jan 22
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to CN¥35.80. The fair value is estimated to be CN¥45.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years. Earnings per share has declined by 21%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 25% per annum over the same time period. Announcement • Dec 29
Wingtech Technology Co.,Ltd to Report Fiscal Year 2023 Results on Apr 23, 2024 Wingtech Technology Co.,Ltd announced that they will report fiscal year 2023 results on Apr 23, 2024 Reported Earnings • Oct 26
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: EPS: CN¥0.68 (up from CN¥0.62 in 3Q 2022). Revenue: CN¥15.2b (up 12% from 3Q 2022). Net income: CN¥841.5m (up 11% from 3Q 2022). Profit margin: 5.5% (down from 5.6% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) exceeded analyst estimates by 38%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 21% per year and the company’s share price has also fallen by 21% per year. Announcement • Sep 30
Wingtech Technology Co.,Ltd to Report Q3, 2023 Results on Oct 26, 2023 Wingtech Technology Co.,Ltd announced that they will report Q3, 2023 results on Oct 26, 2023 Announcement • Sep 14
Wingtech Technology Co.,Ltd (SHSE:600745) completed the acquisition of Shanghai Wentianxia Real Estate Co., Ltd. from Wentianxia Technology Group Co., Ltd. and Zhang Xuezheng. Wingtech Technology Co.,Ltd (SHSE:600745) agreed to acquire Shanghai Wentianxia Real Estate Co., Ltd. from Wentianxia Technology Group Co., Ltd. and Zhang Xuezheng for CNY 710 million on August 25, 2023. Wingtech Technology Co.,Ltd board of directors approved the transaction.Wingtech Technology Co.,Ltd (SHSE:600745) completed the acquisition of Shanghai Wentianxia Real Estate Co., Ltd. from Wentianxia Technology Group Co., Ltd. and Zhang Xuezheng on September 13, 2023. Price Target Changed • Sep 05
Price target decreased by 8.0% to CN¥69.09 Down from CN¥75.08, the current price target is an average from 12 analysts. New target price is 49% above last closing price of CN¥46.41. Stock is down 25% over the past year. The company is forecast to post earnings per share of CN¥2.26 for next year compared to CN¥1.18 last year. Major Estimate Revision • Sep 01
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥67.4b to CN¥62.5b. EPS estimate also fell from CN¥2.41 per share to CN¥2.11 per share. Net income forecast to grow 115% next year vs 65% growth forecast for Electronic industry in China. Consensus price target down from CN¥75.08 to CN¥70.69. Share price rose 11% to CN¥45.77 over the past week. Reported Earnings • Aug 29
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: CN¥0.64 (up from CN¥0.55 in 2Q 2022). Revenue: CN¥14.8b (up 7.9% from 2Q 2022). Net income: CN¥797.7m (up 18% from 2Q 2022). Profit margin: 5.4% (up from 5.0% in 2Q 2022). Revenue exceeded analyst estimates by 5.7%. Earnings per share (EPS) also surpassed analyst estimates by 26%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. Announcement • Aug 02
Wingtech Technology Co.,Ltd (SHSE:600745) announces an Equity Buyback for CNY 200 million worth of its shares. Wingtech Technology Co.,Ltd (SHSE:600745) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million. The program will be valid for a period of 12 months. Announcement • Jun 28
Wingtech Technology Co.,Ltd to Report First Half, 2023 Results on Aug 26, 2023 Wingtech Technology Co.,Ltd announced that they will report first half, 2023 results on Aug 26, 2023 Major Estimate Revision • May 05
Consensus EPS estimates fall by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥69.6b to CN¥66.1b. EPS estimate also fell from CN¥3.23 per share to CN¥2.68 per share. Net income forecast to grow 128% next year vs 52% growth forecast for Electronic industry in China. Consensus price target down from CN¥80.45 to CN¥78.73. Share price was steady at CN¥51.86 over the past week. Reported Earnings • Apr 29
Full year 2022 earnings released: EPS: CN¥1.18 (vs CN¥2.11 in FY 2021) Full year 2022 results: EPS: CN¥1.18 (down from CN¥2.11 in FY 2021). Revenue: CN¥58.1b (up 10% from FY 2021). Net income: CN¥1.46b (down 44% from FY 2021). Profit margin: 2.5% (down from 5.0% in FY 2021). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥53.11, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 24x in the Electronic industry in China. Total loss to shareholders of 45% over the past three years. Price Target Changed • Dec 16
Price target decreased to CN¥82.68 Down from CN¥89.18, the current price target is an average from 11 analysts. New target price is 47% above last closing price of CN¥56.30. Stock is down 58% over the past year. The company is forecast to post earnings per share of CN¥2.28 for next year compared to CN¥2.11 last year. Board Change • Nov 16
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 Xiaogang Shang was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥52.09, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 20x in the Electronic industry in China. Total loss to shareholders of 38% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥103 per share. Price Target Changed • Nov 04
Price target decreased to CN¥90.18 Down from CN¥97.76, the current price target is an average from 10 analysts. New target price is 73% above last closing price of CN¥52.09. Stock is down 55% over the past year. The company is forecast to post earnings per share of CN¥2.28 for next year compared to CN¥2.11 last year. Reported Earnings • Oct 29
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: CN¥0.62 (down from CN¥0.65 in 3Q 2021). Revenue: CN¥13.6b (down 2.1% from 3Q 2021). Net income: CN¥761.7m (down 5.8% from 3Q 2021). Profit margin: 5.6% (down from 5.8% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Price Target Changed • Oct 16
Price target decreased to CN¥97.76 Down from CN¥106, the current price target is an average from 10 analysts. New target price is 102% above last closing price of CN¥48.43. Stock is down 51% over the past year. The company is forecast to post earnings per share of CN¥2.62 for next year compared to CN¥2.11 last year. Major Estimate Revision • Sep 02
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥68.0b to CN¥66.2b. EPS estimate also fell from CN¥3.02 per share to CN¥2.70 per share. Net income forecast to grow 68% next year vs 46% growth forecast for Electronic industry in China. Consensus price target broadly unchanged at CN¥106. Share price was steady at CN¥63.25 over the past week. Reported Earnings • Aug 29
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: EPS: CN¥0.55 (up from CN¥0.47 in 2Q 2021). Revenue: CN¥13.7b (up 7.2% from 2Q 2021). Net income: CN¥679.1m (up 17% from 2Q 2021). Profit margin: 5.0% (up from 4.5% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.3%. Earnings per share (EPS) also missed analyst estimates by 11%. Over the next year, revenue is forecast to grow 37%, compared to a 25% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 9% per year. Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥80.62, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 22x in the Electronic industry in China. Total returns to shareholders of 131% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥94.13 per share. Board Change • Jun 01
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 Jianhua Xiao was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • May 31
Price target decreased to CN¥125 Down from CN¥140, the current price target is an average from 14 analysts. New target price is 97% above last closing price of CN¥63.64. Stock is down 27% over the past year. The company is forecast to post earnings per share of CN¥2.97 for next year compared to CN¥2.11 last year. Major Estimate Revision • May 02
Consensus revenue estimates fall by 12% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥79.1b to CN¥69.7b. EPS estimate fell from CN¥3.89 to CN¥3.26 per share. Net income forecast to grow 82% next year vs 44% growth forecast for Electronic industry in China. Consensus price target down from CN¥158 to CN¥144. Share price rose 10.0% to CN¥65.78 over the past week. Price Target Changed • Apr 29
Price target decreased to CN¥144 Down from CN¥158, the current price target is an average from 13 analysts. New target price is 120% above last closing price of CN¥65.78. Stock is down 23% over the past year. The company is forecast to post earnings per share of CN¥3.26 for next year compared to CN¥2.11 last year. Reported Earnings • Apr 27
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CN¥0.40 (down from CN¥0.53 in 1Q 2021). Revenue: CN¥14.8b (up 23% from 1Q 2021). Net income: CN¥502.7m (down 23% from 1Q 2021). Profit margin: 3.4% (down from 5.4% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) also missed analyst estimates by 43%. Over the next year, revenue is forecast to grow 38%, compared to a 24% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 22% per year and the company’s share price has also increased by 22% per year. Buying Opportunity • Apr 13
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 42%. The fair value is estimated to be CN¥84.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 82% in 2 years. Earnings is forecast to grow by 182% in the next 2 years. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥84.61, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 23x in the Electronic industry in China. Total returns to shareholders of 150% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥85.94 per share. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.65 (vs CN¥0.47 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: CN¥13.9b (down 4.3% from 3Q 2020). Net income: CN¥808.9m (up 45% from 3Q 2020). Profit margin: 5.8% (up from 3.8% in 3Q 2020). The increase in margin was driven by lower expenses. Price Target Changed • Sep 07
Price target increased to CN¥154 Up from CN¥139, the current price target is an average from 8 analysts. New target price is 36% above last closing price of CN¥113. Stock is down 11% over the past year. Reported Earnings • Sep 01
Second quarter 2021 earnings released: EPS CN¥0.47 (vs CN¥0.94 in 2Q 2020) The company reported a poor second quarter result with weaker earnings and profit margins, although revenues were flat. Second quarter 2021 results: Revenue: CN¥12.8b (flat on 2Q 2020). Net income: CN¥580.7m (down 46% from 2Q 2020). Profit margin: 4.5% (down from 8.4% in 2Q 2020). Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment improved over the past week After last week's 24% share price gain to CN¥109, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 31x in the Electronic industry in China. Total loss to shareholders of 28% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥70.54 per share. Reported Earnings • May 02
First quarter 2021 earnings released: EPS CN¥0.53 (vs CN¥0.57 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: CN¥12.0b (up 5.7% from 1Q 2020). Net income: CN¥651.7m (up 2.6% from 1Q 2020). Profit margin: 5.4% (down from 5.6% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Announcement • Feb 10
Wingtech Technology Co.,Ltd (SHSE:600745) signed the acquisition intention agreement to acquire Guangzhou Delta Imaging Technology Co., Ltd. from OFILM Group Co., Ltd. (SZSE:002456). Wingtech Technology Co.,Ltd (SHSE:600745) signed the acquisition intention agreement to acquire Guangzhou Delta Imaging Technology Co., Ltd. from OFILM Group Co., Ltd. (SZSE:002456) on February 7, 2021. Under the terms of the transaction, Wingtech Technology Co.,Ltd will pay the purchase price of 10* (Guangzhou Delta Imaging Technology Co., Ltd.'s 2020 audited net profit (including the company's 2020 net profit from OFILM Technology (Hong Kong) Co., Ltd. plus the transaction price of operating assets. Taking into account the appreciation of intangible assets of operating assets, the transaction price shall be based on the value after special evaluation, and shall not be lower than the book value after special verification.) The transaction price is inclusive of value-added tax price. Wingtech Technology Co.,Ltd intends to pay in cash. The transaction price shall be paid in two installments. Among them, within 5 working days after the formal acquisition agreement has come into effect and the transaction is approved by the internal authorities of both parties, Wingtech Technology shall pay OFILM Group 55% of the transaction price; the relevant government authority that completed the transaction approved (if involved) and the subject matter within 10 working days from the date of completion of the asset delivery, Wingtech Technology shall pay OFILM Group 45% of the transaction price. Wingtech Technology agrees to pay OFILM Group an intent gold of CNY 300 million as the "Intent Money". Within 5 working days after the signing of this agreement, Wingtech Technology shall remit the intention money to the escrow account agreed by both parties. The audit and evaluation base date for this transaction will be December 31, 2020.
For the period ended September 30, 2020, Guangzhou Delta Imaging Technology Co., Ltd. has unaudited total assets of CNY 22 billion and unaudited net assets of CNY 1.5 billion. The transaction and its formal plan still need to perform necessary approval procedures in accordance with the "Articles of Association", "Shanghai Stock Exchange Stock Listing Rules" and other Chinese laws and regulations. On February 7, 2021, Wingtech Technology Co.,Ltd held the thirty-fourth meeting of the tenth Board of Directors and approved the transaction. Price Target Changed • Feb 02
Price target lowered to CN¥163 Down from CN¥180, the current price target is an average from 7 analysts. The new target price is 69% above the current share price of CN¥96.60. As of last close, the stock is down 21% over the past year. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥105, the stock is trading at a trailing P/E ratio of 38.6x, down from the previous P/E ratio of 46.4x. This compares to an average P/E of 39x in the Electronic industry in China. Total returns to shareholders over the past three years are 333%. Is New 90 Day High Low • Jan 14
New 90-day high: CN¥121 The company is up 10.0% from its price of CN¥110 on 16 October 2020. The Chinese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥45.54 per share. Is New 90 Day High Low • Dec 18
New 90-day low: CN¥97.48 The company is down 22% from its price of CN¥124 on 18 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥45.43 per share.