Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥102, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 37x in the Electronic industry in China. Total returns to shareholders of 19% over the past three years. Announcement • Jun 30
Ningbo Yongxin Optics Co.,Ltd to Report First Half, 2026 Results on Aug 27, 2026 Ningbo Yongxin Optics Co.,Ltd announced that they will report first half, 2026 results on Aug 27, 2026 Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥142, the stock trades at a forward P/E ratio of 49x. Average forward P/E is 44x in the Electronic industry in China. Total returns to shareholders of 84% over the past three years. Declared Dividend • Jun 15
Dividend increased to CN¥0.90 Dividend of CN¥0.90 is 5.9% higher than last year. Ex-date: 17th June 2026 Payment date: 17th June 2026 Dividend yield will be 0.7%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (47% earnings payout ratio) and cash flows (83% cash payout ratio). The dividend has increased by an average of 13% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 117% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Jun 12
Price target increased by 10% to CN¥123 Up from CN¥112, the current price target is an average from 4 analysts. New target price is 5.2% above last closing price of CN¥117. Stock is up 41% over the past year. The company is forecast to post earnings per share of CN¥2.70 for next year compared to CN¥1.98 last year. New Risk • May 31
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 20% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥141, the stock trades at a forward P/E ratio of 47x. Average forward P/E is 36x in the Electronic industry in China. Total returns to shareholders of 83% over the past three years. Major Estimate Revision • May 04
Consensus revenue estimates fall by 11% The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CN¥1.32b to CN¥1.18b. EPS estimate fell from CN¥3.20 to CN¥2.73 per share. Net income forecast to grow 56% next year vs 52% growth forecast for Electronic industry in China. Consensus price target of CN¥117 unchanged from last update. Share price fell 2.2% to CN¥115 over the past week. Reported Earnings • Apr 24
First quarter 2026 earnings released: EPS: CN¥0.42 (vs CN¥0.50 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.42 (down from CN¥0.50 in 1Q 2025). Revenue: CN¥264.0m (up 20% from 1Q 2025). Net income: CN¥46.1m (down 17% from 1Q 2025). Profit margin: 18% (down from 25% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Apr 24
Ningbo Yongxin Optics Co.,Ltd, Annual General Meeting, May 15, 2026 Ningbo Yongxin Optics Co.,Ltd, Annual General Meeting, May 15, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Ningbo, Zhejiang China Announcement • Mar 30
Ningbo Yongxin Optics Co.,Ltd to Report Q1, 2026 Results on Apr 24, 2026 Ningbo Yongxin Optics Co.,Ltd announced that they will report Q1, 2026 results on Apr 24, 2026 Announcement • Dec 26
Ningbo Yongxin Optics Co.,Ltd to Report Fiscal Year 2025 Results on Apr 24, 2026 Ningbo Yongxin Optics Co.,Ltd announced that they will report fiscal year 2025 results on Apr 24, 2026 New Risk • Nov 13
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% 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 (9.1% average weekly change). Large one-off items impacting financial results. Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.39 (vs CN¥0.36 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.39 (up from CN¥0.36 in 3Q 2024). Revenue: CN¥232.9m (up 4.8% from 3Q 2024). Net income: CN¥42.7m (up 5.1% from 3Q 2024). Profit margin: 18% (in line with 3Q 2024). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
Ningbo Yongxin Optics Co.,Ltd to Report Q3, 2025 Results on Oct 30, 2025 Ningbo Yongxin Optics Co.,Ltd announced that they will report Q3, 2025 results on Oct 30, 2025 Valuation Update With 7 Day Price Move • Sep 18
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥119, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 33x in the Electronic industry in China. Total returns to shareholders of 26% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥48.63 per share. New Risk • Sep 17
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 7.1% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Sep 01
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥116, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 32x in the Electronic industry in China. Total returns to shareholders of 24% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥53.58 per share. Price Target Changed • Aug 20
Price target increased by 9.4% to CN¥103 Up from CN¥94.00, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of CN¥101. Stock is up 88% over the past year. The company is forecast to post earnings per share of CN¥2.55 for next year compared to CN¥1.88 last year. Announcement • Jun 30
Ningbo Yongxin Optics Co.,Ltd to Report First Half, 2025 Results on Aug 30, 2025 Ningbo Yongxin Optics Co.,Ltd announced that they will report first half, 2025 results on Aug 30, 2025 Declared Dividend • Jun 12
Dividend of CN¥0.85 announced Shareholders will receive a dividend of CN¥0.85. Ex-date: 16th June 2025 Payment date: 16th June 2025 Dividend yield will be 1.0%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 14% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 89% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 28
First quarter 2025 earnings released: EPS: CN¥0.50 (vs CN¥0.41 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.50 (up from CN¥0.41 in 1Q 2024). Revenue: CN¥219.7m (up 1.8% from 1Q 2024). Net income: CN¥55.7m (up 22% from 1Q 2024). Profit margin: 25% (up from 21% in 1Q 2024). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 34% p.a. on average during the next 2 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 4% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Apr 26
Ningbo Yongxin Optics Co.,Ltd, Annual General Meeting, May 20, 2025 Ningbo Yongxin Optics Co.,Ltd, Annual General Meeting, May 20, 2025, at 14:30 China Standard Time. Location: The Company's Meeting Room, Ningbo, Zhejiang China Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥72.77, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 23x in the Electronic industry in China. Total loss to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥64.56 per share. Price Target Changed • Mar 31
Price target increased by 15% to CN¥94.00 Up from CN¥81.50, the current price target is an average from 2 analysts. New target price is 8.6% above last closing price of CN¥86.57. Stock is up 4.6% over the past year. The company is forecast to post earnings per share of CN¥2.07 for next year compared to CN¥2.14 last year. Announcement • Mar 28
Ningbo Yongxin Optics Co.,Ltd to Report Q1, 2025 Results on Apr 26, 2025 Ningbo Yongxin Optics Co.,Ltd announced that they will report Q1, 2025 results on Apr 26, 2025 Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥114, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 28x in the Electronic industry in China. Total returns to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥65.65 per share. Announcement • Dec 27
Ningbo Yongxin Optics Co.,Ltd to Report Fiscal Year 2024 Results on Apr 26, 2025 Ningbo Yongxin Optics Co.,Ltd announced that they will report fiscal year 2024 results on Apr 26, 2025 Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to CN¥85.50, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 25x in the Electronic industry in China. Total loss to shareholders of 7.5% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥66.24 per share. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to CN¥96.34, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 24x in the Electronic industry in China. Total returns to shareholders of 43% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥66.37 per share. Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.36 (vs CN¥0.52 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.36 (down from CN¥0.52 in 3Q 2023). Revenue: CN¥222.2m (up 1.1% from 3Q 2023). Net income: CN¥40.7m (down 30% from 3Q 2023). Profit margin: 18% (down from 26% in 3Q 2023). Revenue is forecast to grow 31% 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 5% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥65.48, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 23x in the Electronic industry in China. Total returns to shareholders of 17% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥83.44 per share. Buy Or Sell Opportunity • Oct 11
Now 21% undervalued Over the last 90 days, the stock has risen 5.8% to CN¥66.20. The fair value is estimated to be CN¥83.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.3% over the last 3 years. Earnings per share has declined by 3.5%. Revenue is forecast to grow by 79% in 2 years. Earnings are forecast to grow by 86% in the next 2 years. Announcement • Sep 30
Ningbo Yongxin Optics Co.,Ltd to Report Q3, 2024 Results on Oct 29, 2024 Ningbo Yongxin Optics Co.,Ltd announced that they will report Q3, 2024 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥60.60, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 20x in the Electronic industry in China. Total returns to shareholders of 8.9% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥83.81 per share. New Risk • Sep 20
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 6.7% 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 (28% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.7% average weekly change). Major Estimate Revision • Sep 03
Consensus revenue estimates fall by 16% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥1.15b to CN¥974.0m. EPS estimate fell from CN¥2.79 to CN¥2.37 per share. Net income forecast to grow 26% next year vs 53% growth forecast for Electronic industry in China. Consensus price target down from CN¥91.33 to CN¥80.00. Share price rose 8.0% to CN¥54.87 over the past week. Buy Or Sell Opportunity • Jul 15
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to CN¥62.00. The fair value is estimated to be CN¥77.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 84% in 2 years. Earnings are forecast to grow by 82% in the next 2 years. Announcement • Jun 28
Ningbo Yongxin Optics Co.,Ltd to Report First Half, 2024 Results on Aug 31, 2024 Ningbo Yongxin Optics Co.,Ltd announced that they will report first half, 2024 results on Aug 31, 2024 Declared Dividend • Jun 03
Dividend reduced to CN¥0.95 Dividend of CN¥0.95 is 0.5% lower than last year. Ex-date: 6th June 2024 Payment date: 6th June 2024 Dividend yield will be 1.4%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (45% 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 20% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 108% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • May 03
Consensus revenue estimates fall by 18% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥1.40b to CN¥1.15b. EPS estimate fell from CN¥3.25 to CN¥2.85 per share. Net income forecast to grow 48% next year vs 61% growth forecast for Electronic industry in China. Consensus price target of CN¥95.00 unchanged from last update. Share price was steady at CN¥73.68 over the past week. Announcement • Apr 29
Ningbo Yongxin Optics Co.,Ltd, Annual General Meeting, May 21, 2024 Ningbo Yongxin Optics Co.,Ltd, Annual General Meeting, May 21, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Ningbo, Zhejiang China Reported Earnings • Apr 28
First quarter 2024 earnings released: EPS: CN¥0.41 (vs CN¥0.43 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.41 (down from CN¥0.43 in 1Q 2023). Revenue: CN¥215.9m (up 15% from 1Q 2023). Net income: CN¥45.6m (down 3.9% from 1Q 2023). Profit margin: 21% (down from 25% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 25% 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 2% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Apr 27
Now 20% overvalued Over the last 90 days, the stock has fallen 6.7% to CN¥72.96. The fair value is estimated to be CN¥60.80, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 93% in 2 years. Earnings are forecast to grow by 65% in the next 2 years. Price Target Changed • Apr 05
Price target decreased by 8.0% to CN¥95.00 Down from CN¥103, the current price target is an average from 3 analysts. New target price is 18% above last closing price of CN¥80.76. Stock is down 5.6% over the past year. The company is forecast to post earnings per share of CN¥2.53 for next year compared to CN¥2.54 last year. Announcement • Mar 29
Ningbo Yongxin Optics Co.,Ltd to Report Q1, 2024 Results on Apr 27, 2024 Ningbo Yongxin Optics Co.,Ltd announced that they will report Q1, 2024 results on Apr 27, 2024 Price Target Changed • Mar 11
Price target decreased by 7.3% to CN¥102 Down from CN¥110, the current price target is an average from 4 analysts. New target price is 36% above last closing price of CN¥75.19. Stock is down 17% over the past year. The company is forecast to post earnings per share of CN¥2.42 for next year compared to CN¥2.54 last year. Buy Or Sell Opportunity • Feb 22
Now 21% overvalued Over the last 90 days, the stock has fallen 27% to CN¥73.92. The fair value is estimated to be CN¥60.93, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 96% in 2 years. Earnings are forecast to grow by 74% in the next 2 years. Buy Or Sell Opportunity • Feb 07
Now 25% overvalued Over the last 90 days, the stock has fallen 24% to CN¥69.92. The fair value is estimated to be CN¥56.06, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 96% in 2 years. Earnings are forecast to grow by 74% in the next 2 years. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥68.75, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 17x in the Electronic industry in China. Total returns to shareholders of 86% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥56.11 per share. Announcement • Dec 30
Ningbo Yongxin Optics Co.,Ltd to Report Fiscal Year 2023 Results on Apr 27, 2024 Ningbo Yongxin Optics Co.,Ltd announced that they will report fiscal year 2023 results on Apr 27, 2024 New Risk • Dec 01
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 6.0% 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 Dividend is not well covered by cash flows (108% cash payout ratio). Share price has been volatile over the past 3 months (6.0% average weekly change). Large one-off items impacting financial results. Major Estimate Revision • Nov 06
Consensus EPS estimates fall by 18% The consensus outlook for fiscal year 2023 has been updated. 2023 consensus EPS estimate fell from CN¥2.79 to CN¥2.30. Revenue forecast reaffirmed at CN¥1.05b. Net income forecast to grow 42% next year vs 74% growth forecast for Electronic industry in China. Consensus price target of CN¥103 unchanged from last update. Share price fell 3.8% to CN¥82.84 over the past week. Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: CN¥0.52 (vs CN¥0.56 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.52 (down from CN¥0.56 in 3Q 2022). Revenue: CN¥219.9m (up 12% from 3Q 2022). Net income: CN¥57.9m (down 7.0% from 3Q 2022). Profit margin: 26% (down from 32% in 3Q 2022). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: CN¥0.62 (vs CN¥0.75 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.62 (down from CN¥0.75 in 2Q 2022). Revenue: CN¥202.6m (flat on 2Q 2022). Net income: CN¥68.5m (down 17% from 2Q 2022). Profit margin: 34% (down from 41% in 2Q 2022). Revenue is forecast to grow 25% 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 16% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥91.94, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 25x in the Electronic industry in China. Total returns to shareholders of 106% over the past three years. Announcement • Jun 28
Ningbo Yongxin Optics Co.,Ltd to Report First Half, 2023 Results on Aug 29, 2023 Ningbo Yongxin Optics Co.,Ltd announced that they will report first half, 2023 results on Aug 29, 2023 Announcement • May 18
Ningbo Yongxin Optics Co.,Ltd announced a financing transaction Ningbo Yongxin Optics Co.,Ltd announced a private placement of common shares on May 16, 2023. The transaction has been approved at the annual general meeting of shareholders. Major Estimate Revision • May 02
Consensus revenue estimates decrease by 19% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from CN¥1.34b to CN¥1.08b. EPS estimate unchanged at CN¥2.98 per share. Net income forecast to grow 31% next year vs 54% growth forecast for Electronic industry in China. Consensus price target of CN¥108 unchanged from last update. Share price was steady at CN¥84.83 over the past week. Reported Earnings • Apr 26
First quarter 2023 earnings released: EPS: CN¥0.43 (vs CN¥0.49 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.43 (down from CN¥0.49 in 1Q 2022). Revenue: CN¥188.2m (down 10.0% from 1Q 2022). Net income: CN¥47.4m (down 12% from 1Q 2022). Profit margin: 25% (in line with 1Q 2022). Revenue is forecast to grow 41% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Guoqing Yan was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Oct 31
Third quarter 2022 earnings released: EPS: CN¥0.56 (vs CN¥0.49 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.56 (up from CN¥0.49 in 3Q 2021). Revenue: CN¥195.9m (down 7.9% from 3Q 2021). Net income: CN¥62.2m (up 15% from 3Q 2021). Profit margin: 32% (up from 25% in 3Q 2021). Revenue is forecast to grow 36% 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 24% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥99.22, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 20x in the Electronic industry in China. Total returns to shareholders of 195% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥75.62 per share. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: CN¥0.75 (vs CN¥0.39 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.75 (up from CN¥0.39 in 2Q 2021). Revenue: CN¥202.9m (up 3.5% from 2Q 2021). Net income: CN¥82.7m (up 89% from 2Q 2021). Profit margin: 41% (up from 22% in 2Q 2021). The increase in margin was primarily driven by lower expenses. Over the next year, revenue is forecast to grow 54%, 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 26% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥96.00, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 23x in the Electronic industry in China. Total returns to shareholders of 196% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥91.28 per share. Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥121, the stock trades at a forward P/E ratio of 47x. Average forward P/E is 23x in the Electronic industry in China. Total returns to shareholders of 260% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥91.91 per share. Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥121, the stock trades at a forward P/E ratio of 47x. Average forward P/E is 22x in the Electronic industry in China. Total returns to shareholders of 280% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥84.90 per share. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥97.50, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 20x in the Electronic industry in China. Total returns to shareholders of 215% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥84.07 per share. Price Target Changed • Apr 30
Price target decreased to CN¥105 Down from CN¥138, the current price target is an average from 4 analysts. New target price is 46% above last closing price of CN¥71.64. Stock is up 42% over the past year. The company is forecast to post earnings per share of CN¥2.36 for next year compared to CN¥2.39 last year. Reported Earnings • Apr 27
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: CN¥0.49 (down from CN¥1.10 in 1Q 2021). Revenue: CN¥209.0m (up 21% from 1Q 2021). Net income: CN¥54.0m (down 55% from 1Q 2021). Profit margin: 26% (down from 70% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) also surpassed analyst estimates by 4.2%. Over the next year, revenue is forecast to grow 46%, compared to a 24% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 24% per year. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥90.63, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 21x in the Electronic industry in China. Total returns to shareholders of 136% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥70.44 per share. Reported Earnings • Mar 06
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥2.37 (up from CN¥1.48 in FY 2020). Revenue: CN¥804.8m (up 40% from FY 2020). Net income: CN¥262.0m (up 62% from FY 2020). Profit margin: 33% (up from 28% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.9%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 30%, compared to a 26% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment improved over the past week After last week's 22% share price gain to CN¥122, the stock trades at a forward P/E ratio of 51x. Average forward P/E is 26x in the Electronic industry in China. Total returns to shareholders of 216% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥90.90 per share. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥95.31, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 26x in the Electronic industry in China. Total returns to shareholders of 179% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥90.45 per share. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥119, the stock trades at a forward P/E ratio of 55x. Average forward P/E is 30x in the Electronic industry in China. Total returns to shareholders of 270% over the past three years. Valuation Update With 7 Day Price Move • Nov 23
Investor sentiment improved over the past week After last week's 22% share price gain to CN¥103, the stock trades at a forward P/E ratio of 47x. Average forward P/E is 30x in the Electronic industry in China. Total returns to shareholders of 199% over the past three years. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.49 (vs CN¥0.27 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥212.6m (up 39% from 3Q 2020). Net income: CN¥54.1m (up 74% from 3Q 2020). Profit margin: 25% (up from 20% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥62.90, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 27x in the Electronic industry in China. Total returns to shareholders of 44% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥28.13 per share. Reported Earnings • Aug 24
Second quarter 2021 earnings released: EPS CN¥0.39 (vs CN¥0.30 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¥196.0m (up 57% from 2Q 2020). Net income: CN¥43.8m (up 34% from 2Q 2020). Profit margin: 22% (down from 26% in 2Q 2020). Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment deteriorated over the past week After last week's 19% share price decline to CN¥53.07, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 31x in the Electronic industry in China. Total returns to shareholders of 23% over the past year. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥64.26, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 27x in the Electronic industry in China. Total returns to shareholders of 60% over the past year. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥57.79, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 23x in the Electronic industry in China. Total returns to shareholders of 53% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥34.97 per share. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥49.78, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 26x in the Electronic industry in China. Total returns to shareholders of 61% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥35.76 per share. Reported Earnings • Apr 14
Full year 2020 earnings released: EPS CN¥1.48 (vs CN¥1.27 in FY 2019) The company reported a solid full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: CN¥576.4m (flat on FY 2019). Net income: CN¥161.7m (up 16% from FY 2019). Profit margin: 28% (up from 24% in FY 2019).