Declared Dividend • Jun 01
Dividend increased to CN¥0.42 Dividend of CN¥0.42 is 83% higher than last year. Ex-date: 2nd June 2026 Payment date: 2nd June 2026 Dividend yield will be 2.3%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (50% earnings payout ratio) but not covered by cash flows (107% cash payout ratio). The dividend has increased by an average of 9.8% per year over the past 6 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 44% to shift the payout ratio to a potentially unsustainable range, which is more than the 11% EPS decline seen over the last 5 years. New Risk • Apr 28
New major risk - Revenue and earnings growth Earnings have declined by 23% 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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 23% per year over the past 5 years. Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Apr 28
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: CN¥0.83 (up from CN¥0.44 in FY 2024). Revenue: CN¥2.53b (up 16% from FY 2024). Net income: CN¥156.4m (up 87% from FY 2024). Profit margin: 6.2% (up from 3.8% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.2%. Earnings per share (EPS) also surpassed analyst estimates by 34%. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Apr 28
Traffic Control Technology Co., Ltd., Annual General Meeting, May 18, 2026 Traffic Control Technology Co., Ltd., Annual General Meeting, May 18, 2026, at 14:30 China Standard Time. Location: 5F, Building 1, Yard No. 3, Zhicheng North Street, Fengtai District, Beijing China Announcement • Mar 30
Traffic Control Technology Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Traffic Control Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 Reported Earnings • Feb 25
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: CN¥0.82 (up from CN¥0.44 in FY 2024). Revenue: CN¥2.54b (up 16% from FY 2024). Net income: CN¥155.6m (up 86% from FY 2024). Profit margin: 6.1% (up from 3.8% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.5%. Earnings per share (EPS) also surpassed analyst estimates by 32%. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Dec 26
Traffic Control Technology Co., Ltd. to Report Fiscal Year 2025 Results on Apr 28, 2026 Traffic Control Technology Co., Ltd. announced that they will report fiscal year 2025 results on Apr 28, 2026 Reported Earnings • Oct 29
Third quarter 2025 earnings released: EPS: CN¥0.18 (vs CN¥0.05 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.18 (up from CN¥0.05 in 3Q 2024). Revenue: CN¥538.1m (up 9.5% from 3Q 2024). Net income: CN¥34.1m (up 256% from 3Q 2024). Profit margin: 6.3% (up from 1.9% in 3Q 2024). Revenue is forecast to grow 7.0% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Sep 30
Traffic Control Technology Co., Ltd. to Report Q3, 2025 Results on Oct 29, 2025 Traffic Control Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 New Risk • Sep 13
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 59% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥26.60, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 31x in the Electronic industry in China. Total returns to shareholders of 38% over the past three years. Price Target Changed • Sep 06
Price target increased by 8.7% to CN¥25.00 Up from CN¥23.00, the current price target is provided by 1 analyst. New target price is 6.2% above last closing price of CN¥23.53. Stock is up 58% over the past year. The company is forecast to post earnings per share of CN¥0.62 for next year compared to CN¥0.44 last year. Announcement • Jun 30
Traffic Control Technology Co., Ltd. to Report First Half, 2025 Results on Aug 30, 2025 Traffic Control Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 30, 2025 Declared Dividend • May 31
Dividend increased to CN¥0.23 Dividend of CN¥0.23 is 15% higher than last year. Ex-date: 4th June 2025 Payment date: 4th June 2025 Dividend yield will be 1.1%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has decreased over the past 56 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 44% to shift the payout ratio to a potentially unsustainable range, which is more than the 17% EPS decline seen over the last 5 years. Reported Earnings • Apr 27
First quarter 2025 earnings released: EPS: CN¥0.09 (vs CN¥0.07 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.09 (up from CN¥0.07 in 1Q 2024). Revenue: CN¥403.0m (down 4.7% from 1Q 2024). Net income: CN¥17.7m (up 43% from 1Q 2024). Profit margin: 4.4% (up from 2.9% in 1Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Apr 26
Traffic Control Technology Co., Ltd., Annual General Meeting, May 19, 2025 Traffic Control Technology Co., Ltd., Annual General Meeting, May 19, 2025, at 14:30 China Standard Time. Location: The Company's Meeting Room, Beijing China Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥17.34, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 27x in the Electronic industry in China. Total loss to shareholders of 32% over the past three years. Board Change • Apr 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. Chairman of the Supervisory Board Danjuan Zhao was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Mar 28
Traffic Control Technology Co., Ltd. to Report Q1, 2025 Results on Apr 26, 2025 Traffic Control Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 Reported Earnings • Feb 27
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: CN¥0.44 (down from CN¥0.47 in FY 2023). Revenue: CN¥2.18b (up 9.1% from FY 2023). Net income: CN¥83.7m (down 5.9% from FY 2023). Profit margin: 3.8% (down from 4.5% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 159%. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Jan 14
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 6.2% to CN¥18.58. The fair value is estimated to be CN¥14.86, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.8% over the last 3 years. Earnings per share has declined by 50%. Revenue is forecast to grow by 5.6% in a year. Earnings are forecast to grow by 11% in the next year. Announcement • Dec 27
Traffic Control Technology Co., Ltd. to Report Fiscal Year 2024 Results on Apr 26, 2025 Traffic Control Technology Co., Ltd. announced that they will report fiscal year 2024 results on Apr 26, 2025 Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥23.56, the stock trades at a forward P/E ratio of 55x. Average forward P/E is 26x in the Electronic industry in China. Total loss to shareholders of 25% over the past three years. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.05 (vs CN¥0.071 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.05 (down from CN¥0.071 in 3Q 2023). Revenue: CN¥491.3m (up 11% from 3Q 2023). Net income: CN¥9.58m (down 31% from 3Q 2023). Profit margin: 1.9% (down from 3.1% in 3Q 2023). Revenue is forecast to grow 6.7% 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 fallen by 50% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥17.76, the stock trades at a forward P/E ratio of 52x. Average forward P/E is 23x in the Electronic industry in China. Total loss to shareholders of 39% over the past three years. Announcement • Sep 30
Traffic Control Technology Co., Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Traffic Control Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to CN¥18.98, the stock trades at a forward P/E ratio of 55x. Average forward P/E is 21x in the Electronic industry in China. Total loss to shareholders of 35% over the past three years. Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: CN¥0.042 (vs CN¥0.13 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.042 (down from CN¥0.13 in 2Q 2023). Revenue: CN¥453.5m (down 1.3% from 2Q 2023). Net income: CN¥8.55m (down 60% from 2Q 2023). Profit margin: 1.9% (down from 4.6% in 2Q 2023). Revenue is forecast to grow 6.8% 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 fallen by 43% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Announcement • Jun 28
Traffic Control Technology Co., Ltd. to Report First Half, 2024 Results on Aug 31, 2024 Traffic Control Technology Co., Ltd. announced that they will report first half, 2024 results on Aug 31, 2024 Declared Dividend • May 22
Dividend of CN¥0.20 announced Shareholders will receive a dividend of CN¥0.20. Ex-date: 24th May 2024 Payment date: 24th May 2024 Dividend yield will be 0.8%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (40% 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 decreased over the past 46 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 7.6% over the next year, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • May 17
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥23.08, the stock trades at a forward P/E ratio of 90x. Average forward P/E is 22x in the Electronic industry in China. Total loss to shareholders of 20% over the past three years. Major Estimate Revision • May 07
Consensus EPS estimates fall by 78% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥2.20b to CN¥2.15b. EPS estimate also fell from CN¥0.79 per share to CN¥0.17 per share. Net income forecast to shrink 46% next year vs 58% growth forecast for Electronic industry in China . Consensus price target of CN¥21.00 unchanged from last update. Share price rose 9.1% to CN¥19.87 over the past week. Announcement • Apr 21
Traffic Control Technology Co., Ltd., Annual General Meeting, May 10, 2024 Traffic Control Technology Co., Ltd., Annual General Meeting, May 10, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Beijing China Reported Earnings • Apr 20
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.47 (down from CN¥1.22 in FY 2022). Revenue: CN¥1.99b (down 19% from FY 2022). Net income: CN¥89.0m (down 61% from FY 2022). Profit margin: 4.5% (down from 9.3% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 2.1%. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. New Risk • Apr 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 12% 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 Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (12% average weekly change). Profit margins are more than 30% lower than last year (4.4% net profit margin). Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥19.62, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 21x in the Electronic industry in China. Total loss to shareholders of 38% over the past three years. Announcement • Mar 29
Traffic Control Technology Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Traffic Control Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Reported Earnings • Feb 27
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.47 (down from CN¥1.22 in FY 2022). Revenue: CN¥2.00b (down 19% from FY 2022). Net income: CN¥88.4m (down 62% from FY 2022). Profit margin: 4.4% (down from 9.3% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 2.1%. Over the last 3 years on average, earnings per share has fallen by 27% per year whereas the company’s share price has fallen by 28% per year. 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¥13.73, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 17x in the Electronic industry in China. Total loss to shareholders of 61% over the past three years. Announcement • Dec 30
Traffic Control Technology Co., Ltd. to Report Fiscal Year 2023 Results on Apr 20, 2024 Traffic Control Technology Co., Ltd. announced that they will report fiscal year 2023 results on Apr 20, 2024 Major Estimate Revision • Nov 06
Consensus EPS estimates fall by 37% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥2.23b to CN¥2.04b. EPS estimate also fell from CN¥0.76 per share to CN¥0.48 per share. Net income forecast to grow 0.6% next year vs 74% growth forecast for Electronic industry in China. Consensus price target of CN¥21.00 unchanged from last update. Share price was steady at CN¥18.39 over the past week. New Risk • Nov 03
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: 6.1% 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: Major Risk High level of non-cash earnings (35% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (6.1% net profit margin). Major Estimate Revision • Sep 06
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥2.34b to CN¥2.23b. EPS estimate also fell from CN¥0.85 per share to CN¥0.76 per share. Net income forecast to shrink 0.7% next year vs 62% growth forecast for Electronic industry in China . Consensus price target down from CN¥24.07 to CN¥21.00. Share price rose 2.3% to CN¥17.48 over the past week. Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: CN¥0.13 (vs CN¥0.32 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.13 (down from CN¥0.32 in 2Q 2022). Revenue: CN¥459.4m (down 16% from 2Q 2022). Net income: CN¥21.4m (down 64% from 2Q 2022). Profit margin: 4.6% (down from 11% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.1% p.a. on average during the next 2 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 6% per year but the company’s share price has fallen by 29% per year, which means it is performing significantly worse than earnings. Announcement • Jun 28
Traffic Control Technology Co., Ltd. to Report First Half, 2023 Results on Aug 30, 2023 Traffic Control Technology Co., Ltd. announced that they will report first half, 2023 results on Aug 30, 2023 Major Estimate Revision • May 06
Consensus EPS estimates increase by 12%, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from CN¥2.63b to CN¥2.58b. EPS estimate rose from CN¥1.53 to CN¥1.71. Net income forecast to grow 47% next year vs 51% growth forecast for Electronic industry in China. Consensus price target down from CN¥26.98 to CN¥24.07. Share price fell 2.3% to CN¥19.60 over the past week. Reported Earnings • Apr 08
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: CN¥1.22 (down from CN¥1.75 in FY 2021). Revenue: CN¥2.47b (down 4.4% from FY 2021). Net income: CN¥229.5m (down 21% from FY 2021). Profit margin: 9.3% (down from 11% in FY 2021). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 5.5%. Earnings per share (EPS) missed analyst estimates by 1.6%. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 22
Full year 2022 earnings released: EPS: CN¥1.23 (vs CN¥1.75 in FY 2021) Full year 2022 results: EPS: CN¥1.23 (down from CN¥1.75 in FY 2021). Revenue: CN¥2.47b (down 4.4% from FY 2021). Net income: CN¥229.8m (down 21% from FY 2021). Profit margin: 9.3% (down from 11% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. 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. 4 non-independent directors. Independent Director Zhiyong Wu was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Nov 09
Consensus revenue estimates fall by 17% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥2.81b to CN¥2.34b. EPS estimate fell from CN¥1.67 to CN¥1.23 per share. Net income forecast to shrink 9.5% next year vs 51% growth forecast for Electronic industry in China . Consensus price target down from CN¥26.00 to CN¥23.92. Share price rose 2.2% to CN¥20.71 over the past week. Reported Earnings • Oct 30
Third quarter 2022 earnings released: EPS: CN¥0.31 (vs CN¥0.45 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.31 (down from CN¥0.45 in 3Q 2021). Revenue: CN¥531.8m (down 22% from 3Q 2021). Net income: CN¥59.4m (down 21% from 3Q 2021). Profit margin: 11% (in line with 3Q 2021). 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 17% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Price Target Changed • Sep 07
Price target decreased to CN¥26.00 Down from CN¥34.94, the current price target is an average from 3 analysts. New target price is 24% above last closing price of CN¥20.92. Stock is down 41% over the past year. The company is forecast to post earnings per share of CN¥1.67 for next year compared to CN¥1.75 last year. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: CN¥0.32 (vs CN¥0.52 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.32 (down from CN¥0.52 in 2Q 2021). Revenue: CN¥547.4m (down 20% from 2Q 2021). Net income: CN¥59.5m (down 27% from 2Q 2021). Profit margin: 11% (down from 12% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 28%, 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 25% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Apr 08
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥1.75 (up from CN¥1.48 in FY 2020). Revenue: CN¥2.58b (up 27% from FY 2020). Net income: CN¥291.0m (up 23% from FY 2020). Profit margin: 11% (in line with FY 2020). Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) also missed analyst estimates by 2.5%. Over the next year, revenue is forecast to grow 24%, compared to a 24% growth forecast for the industry in China. Reported Earnings • Feb 16
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥1.75 (up from CN¥1.48 in FY 2020). Revenue: CN¥2.58b (up 27% from FY 2020). Net income: CN¥291.1m (up 23% from FY 2020). Profit margin: 11% (in line with FY 2020). Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) also missed analyst estimates by 2.5%. Over the next year, revenue is forecast to grow 26%, compared to a 26% growth forecast for the industry in China. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.45 (vs CN¥0.25 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥680.6m (up 35% from 3Q 2020). Net income: CN¥75.3m (up 84% from 3Q 2020). Profit margin: 11% (up from 8.1% in 3Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Aug 23
Second quarter 2021 earnings released: EPS CN¥0.52 (vs CN¥0.42 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¥680.4m (up 46% from 2Q 2020). Net income: CN¥81.8m (up 27% from 2Q 2020). Profit margin: 12% (down from 14% in 2Q 2020). Valuation Update With 7 Day Price Move • Apr 27
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥32.10, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 25x in the Electronic industry in China. Total loss to shareholders of 30% over the past year. Reported Earnings • Apr 09
Full year 2020 earnings released: EPS CN¥1.48 (vs CN¥0.93 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥2.03b (up 23% from FY 2019). Net income: CN¥236.8m (up 86% from FY 2019). Profit margin: 12% (up from 7.7% in FY 2019). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥43.79, the stock is trading at a trailing P/E ratio of 33.9x, up from the previous P/E ratio of 28.7x. This compares to an average P/E of 40x in the Electronic industry in China. Total returns to shareholders over the past year are 17%. Is New 90 Day High Low • Feb 22
New 90-day high: CN¥43.79 The company is up 1.0% from its price of CN¥43.19 on 24 November 2020. The Chinese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Electronic industry, which is also up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥52.93 per share. Is New 90 Day High Low • Dec 24
New 90-day low: CN¥37.05 The company is down 22% from its price of CN¥47.36 on 25 September 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic 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¥53.60 per share. Is New 90 Day High Low • Dec 04
New 90-day low: CN¥41.62 The company is down 11% from its price of CN¥46.94 on 04 September 2020. The Chinese market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥45.95 per share. Announcement • Nov 18
Traffic Control Technology Co., Ltd. announced that it expects to receive CNY 100 million in funding from Beijing Infrastructure Investment Co.,Ltd and other investors Traffic Control Technology Co., Ltd. (SHSE:688015) announced a private placement of not exceeding 32,000,000 A shares of par value of CNY 1 for total gross proceeds not more than CNY 1,000,000,000 on November 17, 2020. The transaction included participation from not more than 35 special investors including Beijing Infrastructure Investment Co.,Ltd. The company has entered into agreement with the Beijing Infrastructure Investment Co.,Ltd. Issuance price will be not lower than 80% of the average price of the company’s shares as of 20 trading days since issuance date. The transaction was approved by board of directors at 20th meeting of the 2nd directorate of the company. The transaction is subjected to approval of shareholders, Shanghai Stock Exchange and the China Securities Regulatory Commission. The securities issued are subjected to hold period of 18 months for shares issued to Beijing Infrastructure Investment Co.,Ltd, and 6 months for other shares. The transaction will be valid for 12 months since approval from the shareholders’ meeting of the company. Announcement • Oct 30
Traffic Control Technology Co., Ltd. to Report Q3, 2020 Results on Oct 30, 2020 Traffic Control Technology Co., Ltd. announced that they will report Q3, 2020 results on Oct 30, 2020 Announcement • Jul 06
Traffic Control Technology Co., Ltd. to Report First Half, 2020 Results on Aug 14, 2020 Traffic Control Technology Co., Ltd. announced that they will report first half, 2020 results on Aug 14, 2020