CICT Mobile Communication Technology Full Year 2023 Earnings: Misses Expectations

CICT Mobile Communication Technology (SHSE:688387) Full Year 2023 Results

Key Financial Results

• Revenue: CN¥7.88b (up 14% from FY 2022).
• Net loss: CN¥370.3m (loss narrowed by 45% from FY 2022).
• CN¥0.11 loss per share (improved from CN¥0.23 loss in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

CICT Mobile Communication Technology Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 7.4%. Earnings per share (EPS) also missed analyst estimates by 38%.

Looking ahead, revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Communications industry in China.

Performance of the Chinese Communications industry.

The company's shares are up 1.9% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on CICT Mobile Communication Technology's balance sheet.

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