Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥143, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 45x in the Electronic industry in China. Total returns to shareholders of 53% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥150 per share. Announcement • May 18
Shanghai BOCHU Electronic Technology Corporation Limited, Annual General Meeting, Jun 05, 2026 Shanghai BOCHU Electronic Technology Corporation Limited, Annual General Meeting, Jun 05, 2026, at 13:15 China Standard Time. Location: The Company's Meeting Room, Shanghai China Valuation Update With 7 Day Price Move • May 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥163, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 36x in the Electronic industry in China. Total returns to shareholders of 68% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥150 per share. Reported Earnings • Apr 10
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: CN¥3.86 (up from CN¥3.07 in FY 2024). Revenue: CN¥2.20b (up 27% from FY 2024). Net income: CN¥1.11b (up 26% from FY 2024). Profit margin: 51% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.3%. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 23% 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 only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Mar 30
Shanghai BOCHU Electronic Technology Corporation Limited. to Report Q1, 2026 Results on Apr 30, 2026 Shanghai BOCHU Electronic Technology Corporation Limited. announced that they will report Q1, 2026 results on Apr 30, 2026 Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: CN¥3.84 (vs CN¥3.07 in FY 2024) Full year 2025 results: EPS: CN¥3.84 (up from CN¥3.07 in FY 2024). Revenue: CN¥2.20b (up 27% from FY 2024). Net income: CN¥1.11b (up 26% from FY 2024). Profit margin: 51% (in line with FY 2024). Revenue is forecast to grow 21% 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 increased by 26% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jan 23
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to CN¥165. The fair value is estimated to be CN¥136, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 57% in 2 years. Earnings are forecast to grow by 57% in the next 2 years. Announcement • Dec 26
Shanghai BOCHU Electronic Technology Corporation Limited. to Report Fiscal Year 2025 Results on Apr 10, 2026 Shanghai BOCHU Electronic Technology Corporation Limited. announced that they will report fiscal year 2025 results on Apr 10, 2026 Announcement • Sep 30
Shanghai BOCHU Electronic Technology Corporation Limited. to Report Q3, 2025 Results on Oct 28, 2025 Shanghai BOCHU Electronic Technology Corporation Limited. announced that they will report Q3, 2025 results on Oct 28, 2025 Buy Or Sell Opportunity • Sep 24
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to CN¥154. The fair value is estimated to be CN¥122, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 56% in 2 years. Earnings are forecast to grow by 55% in the next 2 years. Price Target Changed • Aug 24
Price target increased by 8.9% to CN¥164 Up from CN¥150, the current price target is an average from 8 analysts. New target price is 8.6% above last closing price of CN¥151. Stock is up 34% over the past year. The company is forecast to post earnings per share of CN¥3.96 for next year compared to CN¥3.07 last year. Buy Or Sell Opportunity • Aug 23
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 10% to CN¥151. The fair value is estimated to be CN¥122, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 57% in 2 years. Earnings are forecast to grow by 54% in the next 2 years. Announcement • Jun 30
Shanghai BOCHU Electronic Technology Corporation Limited. to Report First Half, 2025 Results on Aug 22, 2025 Shanghai BOCHU Electronic Technology Corporation Limited. announced that they will report first half, 2025 results on Aug 22, 2025 Announcement • Apr 29
Shanghai BOCHU Electronic Technology Corporation Limited., Annual General Meeting, May 19, 2025 Shanghai BOCHU Electronic Technology Corporation Limited., Annual General Meeting, May 19, 2025, at 13:30 China Standard Time. Price Target Changed • Apr 08
Price target decreased by 7.0% to CN¥203 Down from CN¥218, the current price target is an average from 8 analysts. New target price is 19% above last closing price of CN¥171. Stock is down 19% over the past year. The company is forecast to post earnings per share of CN¥5.81 for next year compared to CN¥4.30 last year. Reported Earnings • Apr 03
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥4.30 (up from CN¥3.56 in FY 2023). Revenue: CN¥1.74b (up 23% from FY 2023). Net income: CN¥882.7m (up 21% from FY 2023). Profit margin: 51% (in line with FY 2023). Revenue missed analyst estimates by 8.1%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 29% 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 21% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Mar 28
Shanghai BOCHU Electronic Technology Corporation Limited. to Report Q1, 2025 Results on Apr 22, 2025 Shanghai BOCHU Electronic Technology Corporation Limited. announced that they will report Q1, 2025 results on Apr 22, 2025 Reported Earnings • Feb 28
Full year 2024 earnings released: EPS: CN¥4.29 (vs CN¥3.56 in FY 2023) Full year 2024 results: EPS: CN¥4.29 (up from CN¥3.56 in FY 2023). Revenue: CN¥1.74b (up 23% from FY 2023). Net income: CN¥880.5m (up 21% from FY 2023). Profit margin: 51% (down from 52% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Feb 19
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 8.3% to CN¥205. The fair value is estimated to be CN¥170, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 18%. Revenue is forecast to grow by 76% in 2 years. Earnings are forecast to grow by 85% in the next 2 years. Announcement • Dec 27
Shanghai BOCHU Electronic Technology Corporation Limited. to Report Fiscal Year 2024 Results on Apr 03, 2025 Shanghai BOCHU Electronic Technology Corporation Limited. announced that they will report fiscal year 2024 results on Apr 03, 2025 Reported Earnings • Oct 28
Third quarter 2024 earnings: EPS misses analyst expectations Third quarter 2024 results: EPS: CN¥1.14 (up from CN¥1.03 in 3Q 2023). Revenue: CN¥417.2m (up 26% from 3Q 2023). Net income: CN¥234.6m (up 12% from 3Q 2023). Profit margin: 56% (down from 64% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 10%. Revenue is forecast to grow 29% 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 increased by 18% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 16
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥200, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 24x in the Electronic industry in China. Total loss to shareholders of 4.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥213 per share. 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 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. 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. Share price has been volatile over the past 3 months (7.1% average weekly change). Announcement • Sep 30
Shanghai BOCHU Electronic Technology Corporation Limited. to Report Q3, 2024 Results on Oct 26, 2024 Shanghai BOCHU Electronic Technology Corporation Limited. announced that they will report Q3, 2024 results on Oct 26, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥181, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 21x in the Electronic industry in China. Total loss to shareholders of 17% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥213 per share. Buy Or Sell Opportunity • Sep 02
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 23% to CN¥154. The fair value is estimated to be CN¥199, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to grow by 77% in 2 years. Earnings are forecast to grow by 79% in the next 2 years. Price Target Changed • Aug 21
Price target decreased by 8.8% to CN¥223 Down from CN¥244, the current price target is an average from 8 analysts. New target price is 45% above last closing price of CN¥153. Stock is down 11% over the past year. The company is forecast to post earnings per share of CN¥4.92 for next year compared to CN¥3.56 last year. Reported Earnings • Aug 20
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: EPS: CN¥1.45 (up from CN¥1.13 in 2Q 2023). Revenue: CN¥502.5m (up 29% from 2Q 2023). Net income: CN¥297.6m (up 29% from 2Q 2023). Profit margin: 59% (in line with 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 26%. Revenue is forecast to grow 28% 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 increased by 14% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jul 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 35% to CN¥143. The fair value is estimated to be CN¥180, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 81% in 2 years. Earnings are forecast to grow by 79% in the next 2 years. Announcement • Jun 29
Shanghai BOCHU Electronic Technology Corporation Limited. to Report First Half, 2024 Results on Aug 31, 2024 Shanghai BOCHU Electronic Technology Corporation Limited. announced that they will report first half, 2024 results on Aug 31, 2024 Buy Or Sell Opportunity • Jun 17
Now 21% overvalued Over the last 90 days, the stock has fallen 2.4% to CN¥200. The fair value is estimated to be CN¥166, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 82% in 2 years. Earnings are forecast to grow by 80% in the next 2 years. Buy Or Sell Opportunity • May 27
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at CN¥198. The fair value is estimated to be CN¥163, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 82% in 2 years. Earnings are forecast to grow by 80% in the next 2 years. Valuation Update With 7 Day Price Move • May 16
Investor sentiment deteriorates as stock falls 33% After last week's 33% share price decline to CN¥214, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 21x in the Electronic industry in China. Total loss to shareholders of 15% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥229 per share. Reported Earnings • Apr 24
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: CN¥1.32 (up from CN¥0.90 in 1Q 2023). Revenue: CN¥381.1m (up 40% from 1Q 2023). Net income: CN¥193.6m (up 47% from 1Q 2023). Profit margin: 51% (up from 49% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 6.5%. Earnings per share (EPS) also missed analyst estimates by 5.7%. Revenue is forecast to grow 29% 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 increased by 12% per year whereas the company’s share price has increased by 8% per year. Board Change • Apr 20
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. 4 experienced directors. No highly experienced directors. Independent Director Jian Zhong Jin was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 09
Shanghai Friendess Electronic Technology Corporation Limited, Annual General Meeting, Apr 29, 2024 Shanghai Friendess Electronic Technology Corporation Limited, Annual General Meeting, Apr 29, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Shanghai China Announcement • Mar 29
Shanghai Friendess Electronic Technology Corporation Limited to Report Q1, 2024 Results on Apr 30, 2024 Shanghai Friendess Electronic Technology Corporation Limited announced that they will report Q1, 2024 results on Apr 30, 2024 Buy Or Sell Opportunity • Mar 26
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to CN¥283. The fair value is estimated to be CN¥230, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 28% per annum. Earnings are also forecast to grow by 27% per annum over the same time period. Price Target Changed • Mar 21
Price target increased by 7.9% to CN¥322 Up from CN¥299, the current price target is an average from 7 analysts. New target price is 17% above last closing price of CN¥276. Stock is up 51% over the past year. The company is forecast to post earnings per share of CN¥6.94 for next year compared to CN¥4.99 last year. Reported Earnings • Feb 24
Full year 2023 earnings released: EPS: CN¥4.95 (vs CN¥3.31 in FY 2022) Full year 2023 results: EPS: CN¥4.95 (up from CN¥3.31 in FY 2022). Revenue: CN¥1.41b (up 57% from FY 2022). Net income: CN¥723.8m (up 51% from FY 2022). Profit margin: 51% (down from 53% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 28% p.a. on average during the next 2 years, compared to a 19% 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 • Feb 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥291, the stock trades at a forward P/E ratio of 47x. Average forward P/E is 16x in the Electronic industry in China. Total returns to shareholders of 36% over the past three years. Reported Earnings • Oct 11
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: CN¥1.44 (up from CN¥0.96 in 3Q 2022). Revenue: CN¥330.4m (up 36% from 3Q 2022). Net income: CN¥210.1m (up 51% from 3Q 2022). Profit margin: 64% (up from 57% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 15%. Earnings per share (EPS) also missed analyst estimates by 5.9%. Revenue is forecast to grow 32% 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 11% per year whereas the company’s share price has increased by 10% per year. Price Target Changed • Aug 17
Price target increased by 8.3% to CN¥270 Up from CN¥249, the current price target is an average from 7 analysts. New target price is 12% above last closing price of CN¥241. Stock is up 3.3% over the past year. The company is forecast to post earnings per share of CN¥4.91 for next year compared to CN¥3.31 last year. Reported Earnings • Aug 16
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: CN¥1.58 (up from CN¥1.01 in 2Q 2022). Revenue: CN¥389.5m (up 79% from 2Q 2022). Net income: CN¥230.0m (up 59% from 2Q 2022). Profit margin: 59% (down from 67% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 24%. Earnings per share (EPS) also surpassed analyst estimates by 22%. Revenue is forecast to grow 30% 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 increased by 14% per year and the company’s share price has also increased by 14% per year. Reported Earnings • Apr 12
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: CN¥3.31 (down from CN¥3.92 in FY 2021). Revenue: CN¥898.5m (down 1.6% from FY 2021). Net income: CN¥479.5m (down 13% from FY 2021). Profit margin: 53% (down from 60% in FY 2021). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 20%. 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 increased by 20% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Feb 28
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¥1.32b to CN¥1.25b. EPS estimate also fell from CN¥5.38 per share to CN¥4.66 per share. Net income forecast to grow 36% next year vs 45% growth forecast for Electronic industry in China. Consensus price target broadly unchanged at CN¥266. Share price fell 3.1% to CN¥210 over the past week. Price Target Changed • Nov 16
Price target decreased to CN¥250 Down from CN¥290, the current price target is an average from 4 analysts. New target price is 6.0% above last closing price of CN¥235. Stock is down 15% over the past year. The company is forecast to post earnings per share of CN¥4.20 for next year compared to CN¥3.92 last year. Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥226, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 20x in the Electronic industry in China. Total returns to shareholders of 142% over the past three years. Reported Earnings • Oct 28
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: CN¥0.96 (down from CN¥1.17 in 3Q 2021). Revenue: CN¥243.8m (up 1.7% from 3Q 2021). Net income: CN¥138.8m (down 15% from 3Q 2021). Profit margin: 57% (down from 68% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 26%. Earnings per share (EPS) also missed analyst estimates by 35%. Revenue is forecast to grow 38% 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 31% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Oct 28
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from CN¥1.03b to CN¥926.1m. EPS estimate unchanged from CN¥4.61 per share at last update. Electronic industry in China expected to see average net income growth of 45% next year. Consensus price target broadly unchanged at CN¥287. Share price fell 2.9% to CN¥201 over the past week. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥229, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 19x in the Electronic industry in China. Total returns to shareholders of 163% over the past three years. Major Estimate Revision • Aug 15
Consensus revenue estimates fall by 14% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥1.23b to CN¥1.06b. EPS estimate fell from CN¥4.85 to CN¥4.75 per share. Net income forecast to grow 48% next year vs 44% growth forecast for Electronic industry in China. Consensus price target up from CN¥268 to CN¥299. Share price fell 18% to CN¥226 over the past week. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥226, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 24x in the Electronic industry in China. Total returns to shareholders of 66% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥133 per share. Price Target Changed • Aug 12
Price target increased to CN¥299 Up from CN¥268, the current price target is an average from 7 analysts. New target price is 29% above last closing price of CN¥231. Stock is down 30% over the past year. The company is forecast to post earnings per share of CN¥4.75 for next year compared to CN¥3.92 last year. Price Target Changed • Aug 10
Price target increased to CN¥295 Up from CN¥268, the current price target is an average from 7 analysts. New target price is 14% above last closing price of CN¥259. Stock is down 19% over the past year. The company is forecast to post earnings per share of CN¥4.35 for next year compared to CN¥3.92 last year. Reported Earnings • Aug 09
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: EPS: CN¥1.01 (down from CN¥1.28 in 2Q 2021). Revenue: CN¥218.1m (down 22% from 2Q 2021). Net income: CN¥145.1m (down 19% from 2Q 2021). Profit margin: 67% (up from 64% in 2Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates by 37%. Over the next year, revenue is forecast to grow 72%, compared to a 26% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥238, the stock trades at a forward P/E ratio of 45x. Average forward P/E is 21x in the Electronic industry in China. Total loss to shareholders of 30% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥203 per share. Price Target Changed • Jul 04
Price target increased to CN¥268 Up from CN¥237, the current price target is an average from 7 analysts. New target price is 24% above last closing price of CN¥216. Stock is down 31% over the past year. The company is forecast to post earnings per share of CN¥4.85 for next year compared to CN¥3.92 last year. Reported Earnings • Apr 29
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CN¥1.02 (down from CN¥1.18 in 1Q 2021). Revenue: CN¥190.7m (up 1.4% from 1Q 2021). Net income: CN¥102.8m (down 13% from 1Q 2021). Profit margin: 54% (down from 63% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) also missed analyst estimates by 14%. Over the next year, revenue is forecast to grow 52%, compared to a 24% growth forecast for the industry in China. Price Target Changed • Apr 27
Price target decreased to CN¥401 Down from CN¥437, the current price target is an average from 7 analysts. New target price is 69% above last closing price of CN¥238. Stock is down 31% over the past year. The company is forecast to post earnings per share of CN¥7.36 for next year compared to CN¥5.49 last year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. 1 independent director (2 non-independent 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: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Apr 16
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥5.49 (up from CN¥3.71 in FY 2020). Revenue: CN¥913.4m (up 60% from FY 2020). Net income: CN¥550.2m (up 49% from FY 2020). Profit margin: 60% (down from 65% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) also missed analyst estimates by 4.9%. Over the next year, revenue is forecast to grow 39%, compared to a 23% growth forecast for the industry in China. Price Target Changed • Apr 15
Price target decreased to CN¥437 Down from CN¥475, the current price target is an average from 7 analysts. New target price is 65% above last closing price of CN¥264. Stock is down 20% over the past year. Reported Earnings • Feb 22
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥5.67 (up from CN¥3.71 in FY 2020). Revenue: CN¥913.4m (up 60% from FY 2020). Net income: CN¥568.2m (up 53% from FY 2020). Profit margin: 62% (down from 65% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 43%, compared to a 26% growth forecast for the industry in China. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥1.64 (vs CN¥1.36 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: CN¥239.7m (up 46% from 3Q 2020). Net income: CN¥163.9m (up 20% from 3Q 2020). Profit margin: 68% (down from 83% in 3Q 2020). The decrease in margin was driven by higher expenses. Major Estimate Revision • Aug 21
Consensus EPS estimates increase to CN¥5.90 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from CN¥857.5m to CN¥934.1m. EPS estimate increased from CN¥5.25 to CN¥5.90 per share. Net income forecast to grow 31% next year vs 35% growth forecast for Electronic industry in China. Consensus price target up from CN¥412 to CN¥527. Share price rose 10% to CN¥509 over the past week. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS CN¥1.79 (vs CN¥0.88 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥278.4m (up 93% from 2Q 2020). Net income: CN¥179.4m (up 105% from 2Q 2020). Profit margin: 64% (up from 61% in 2Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • May 04
First quarter 2021 earnings released: EPS CN¥1.18 (vs CN¥0.52 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¥188.1m (up 147% from 1Q 2020). Net income: CN¥118.4m (up 126% from 1Q 2020). Profit margin: 63% (down from 69% in 1Q 2020). The decrease in margin was driven by higher expenses. Price Target Changed • Mar 17
Price target increased to CN¥309 Up from CN¥278, the current price target is an average from 5 analysts. New target price is 16% above last closing price of CN¥267. Stock is up 99% over the past year. Announcement • Mar 12
Shanghai Friendess Electronic Technology Corporation Limited announced that it expects to receive CNY 1 billion in funding Shanghai Friendess Electronic Technology Corporation Limited (SHSE:688188) announced a private placement of not more than 30,000,000 A shares for gross proceeds of CNY 1,000,000,000 on March 11, 2021. The transaction will include participation from not more than 35 (including 35) specific subscribers that meet the requirements of laws and regulations. The issuance price of the stock to a specific target is not less than 80% of the average price of the company’s stock trading on the 20 trading days before the pricing benchmark date. The pricing benchmark date is The first day of the issuance period. The shares to be issued in the transaction will be subject to a hold period of 6 months from the issuance date. The transaction is subject to the approval of company’s shareholders meeting, approval of Shanghai Stock Exchange and approval of the China Securities Regulatory Commission. The transaction was approved by the board of directors of the company. Reported Earnings • Mar 12
Full year 2020 earnings released: EPS CN¥3.71 (vs CN¥2.96 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: CN¥570.8m (up 52% from FY 2019). Net income: CN¥370.6m (up 51% from FY 2019). Profit margin: 65% (in line with FY 2019). Analyst Estimate Surprise Post Earnings • Mar 12
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Over the next year, revenue is forecast to grow 31%, compared to a 31% growth forecast for the Electronic industry in China. Is New 90 Day High Low • Jan 22
New 90-day high: CN¥314 The company is up 26% from its price of CN¥249 on 23 October 2020. The Chinese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥102 per share. Is New 90 Day High Low • Oct 29
New 90-day high: CN¥265 The company is up 38% from its price of CN¥192 on 31 July 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥33.51 per share. Announcement • Oct 19
Shanghai Friendess Electronic Technology Corporation Limited to Report Q3, 2020 Results on Oct 23, 2020 Shanghai Friendess Electronic Technology Corporation Limited announced that they will report Q3, 2020 results on Oct 23, 2020 Is New 90 Day High Low • Oct 10
New 90-day high: CN¥245 The company is up 27% from its price of CN¥193 on 10 July 2020. The Chinese market is down 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥33.34 per share. Is New 90 Day High Low • Sep 24
New 90-day high: CN¥239 The company is up 51% from its price of CN¥158 on 24 June 2020. The Chinese market is up 11% 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¥33.46 per share. Announcement • Jul 06
Shanghai Friendess Electronic Technology Corporation Limited to Report First Half, 2020 Results on Aug 14, 2020 Shanghai Friendess Electronic Technology Corporation Limited announced that they will report first half, 2020 results on Aug 14, 2020 