New Risk • Apr 23
New major risk - Revenue and earnings growth Earnings have declined by 36% 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. This is currently the only risk that has been identified for the company. Announcement • Mar 31
Sansec Technology Co., Ltd., Annual General Meeting, Apr 21, 2026 Sansec Technology Co., Ltd., Annual General Meeting, Apr 21, 2026, at 14:30 China Standard Time. Location: 13F, Tower F, Building 1, Yard No. 34, Chuangyuan Road, Chaoyang District, Beijing China Announcement • Mar 30
Sansec Technology Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Sansec Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Reported Earnings • Mar 05
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: CN¥0.36 loss per share (down from CN¥0.37 profit in FY 2024). Revenue: CN¥553.7m (up 17% from FY 2024). Net loss: CN¥41.1m (down 198% from profit in FY 2024). Revenue missed analyst estimates by 8.1%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Tech industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Announcement • Dec 26
Sansec Technology Co., Ltd. to Report Fiscal Year 2025 Results on Mar 31, 2026 Sansec Technology Co., Ltd. announced that they will report fiscal year 2025 results on Mar 31, 2026 Reported Earnings • Oct 31
Third quarter 2025 earnings released: CN¥0.082 loss per share (vs CN¥0.004 profit in 3Q 2024) Third quarter 2025 results: CN¥0.082 loss per share (down from CN¥0.004 profit in 3Q 2024). Revenue: CN¥99.8m (up 17% from 3Q 2024). Net loss: CN¥9.79m (down CN¥10.2m from profit in 3Q 2024). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Tech industry in China. Announcement • Sep 30
Sansec Technology Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Sansec Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Reported Earnings • Aug 25
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: CN¥129.5m (up 8.0% from 2Q 2024). Net income: CN¥4.63m (down 81% from 2Q 2024). Profit margin: 3.6% (down from 20% in 2Q 2024). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Tech industry in China. New Risk • Aug 21
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 9.3% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.3% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.7% net profit margin). Announcement • Jun 30
Sansec Technology Co., Ltd. to Report First Half, 2025 Results on Aug 22, 2025 Sansec Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 22, 2025 New Risk • Jun 14
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 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.7% net profit margin). Reported Earnings • Apr 25
First quarter 2025 earnings released: CN¥0.30 loss per share (vs CN¥0.088 loss in 1Q 2024) First quarter 2025 results: CN¥0.30 loss per share (further deteriorated from CN¥0.088 loss in 1Q 2024). Revenue: CN¥65.5m (up 33% from 1Q 2024). Net loss: CN¥34.0m (loss widened 241% from 1Q 2024). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Tech industry in China. New Risk • Apr 12
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 158% 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 Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (8.9% net profit margin). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥29.97, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 32x in the Tech industry in China. Total loss to shareholders of 2.7% over the past year. Announcement • Mar 31
Sansec Technology Co., Ltd., Annual General Meeting, Apr 24, 2025 Sansec Technology Co., Ltd., Annual General Meeting, Apr 24, 2025, at 14:00 China Standard Time. Location: 13F, Tower F, Building 1, Yard No. 34, Chuangyuan Road, Chaoyang District, Beijing China Announcement • Mar 28
Sansec Technology Co., Ltd. to Report Q1, 2025 Results on Apr 25, 2025 Sansec Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 25, 2025 Reported Earnings • Mar 02
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: CN¥0.38 (down from CN¥0.59 in FY 2023). Revenue: CN¥473.2m (up 32% from FY 2023). Net income: CN¥42.2m (down 37% from FY 2023). Profit margin: 8.9% (down from 19% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.3%. Earnings per share (EPS) missed analyst estimates by 51%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Tech industry in China. Announcement • Dec 27
Sansec Technology Co., Ltd. to Report Fiscal Year 2024 Results on Mar 31, 2025 Sansec Technology Co., Ltd. announced that they will report fiscal year 2024 results on Mar 31, 2025 Buy Or Sell Opportunity • Nov 07
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 64% to CN¥38.38. The fair value is estimated to be CN¥31.73, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has declined by 29%. Revenue is forecast to grow by 79% in 2 years. Earnings are forecast to grow by 271% in the next 2 years. Announcement • Oct 31
Sansec Technology Co., Ltd. (SHSE:688489) agreed to acquire 81.82% stake in Beijing JN TASS Technology Co. Ltd from Deng Dongbai and Hu Jin for approximately CNY 260 million. Sansec Technology Co., Ltd. (SHSE:688489) agreed to acquire 81.82% stake in Beijing JN TASS Technology Co. Ltd from Deng Dongbai and Hu Jin for approximately CNY 260 million on October 30, 2024. A cash consideration of CNY 261.82 million will be paid by Sansec Technology Co., Ltd. As part of consideration, CNY 261.82 million is paid towards common equity of Beijing JN TASS Technology Co. Ltd.
As of March 31, 2024, Beijing JN TASS Technology Co. Ltd reported total assets of CNY 208.08 million and total common equity of CNY 163.56 million.
The transaction is subject to approval of offer by acquirer board. The deal has been unanimously approved by the board. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.004 (vs CN¥0.26 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.004 (down from CN¥0.26 in 3Q 2023). Revenue: CN¥85.3m (down 36% from 3Q 2023). Net income: CN¥452.6k (down 99% from 3Q 2023). Profit margin: 0.5% (down from 22% in 3Q 2023). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Tech industry in China. Announcement • Sep 30
Sansec Technology Co., Ltd. to Report Q3, 2024 Results on Oct 24, 2024 Sansec Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 24, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to CN¥35.26, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 23x in the Tech industry in China. Total loss to shareholders of 24% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥22.32 per share. Buy Or Sell Opportunity • Sep 19
Now 21% overvalued Over the last 90 days, the stock has fallen 13% to CN¥26.98. The fair value is estimated to be CN¥22.27, 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 year. Earnings per share has declined by 38%. Revenue is forecast to grow by 48% in 2 years. Earnings are forecast to grow by 103% in the next 2 years. Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥25.88, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 19x in the Tech industry in China. Total loss to shareholders of 50% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥21.96 per share. New Risk • Aug 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 7.0% 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 Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.0% average weekly change). Profit margins are more than 30% lower than last year (17% net profit margin). Reported Earnings • Aug 30
Second quarter 2024 earnings released: EPS: CN¥0.21 (vs CN¥0.12 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.21 (up from CN¥0.12 in 2Q 2023). Revenue: CN¥119.9m (up 78% from 2Q 2023). Net income: CN¥23.7m (up 70% from 2Q 2023). Profit margin: 20% (in line with 2Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Tech industry in China. Announcement • Jun 29
Sansec Technology Co., Ltd. to Report First Half, 2024 Results on Aug 30, 2024 Sansec Technology Co., Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Announcement • Apr 21
Sansec Technology Co., Ltd., Annual General Meeting, May 13, 2024 Sansec Technology Co., Ltd., Annual General Meeting, May 13, 2024, at 14:00 China Standard Time. Reported Earnings • Apr 20
First quarter 2024 earnings released: CN¥0.088 loss per share (vs CN¥0.033 loss in 1Q 2023) First quarter 2024 results: CN¥0.088 loss per share (further deteriorated from CN¥0.033 loss in 1Q 2023). Revenue: CN¥49.4m (up 36% from 1Q 2023). Net loss: CN¥9.97m (loss widened 163% from 1Q 2023). Revenue is forecast to grow 42% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Tech industry in China. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥26.66, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 26x in the Tech industry in China. Total loss to shareholders of 70% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥13.18 per share. Announcement • Mar 29
Sansec Technology Co., Ltd. to Report Q1, 2024 Results on Apr 20, 2024 Sansec Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 20, 2024 Reported Earnings • Feb 28
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.59 (down from CN¥1.23 in FY 2022). Revenue: CN¥359.5m (up 5.8% from FY 2022). Net income: CN¥67.4m (down 37% from FY 2022). Profit margin: 19% (down from 32% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 25%. Earnings per share (EPS) also missed analyst estimates by 55%. Revenue is forecast to grow 39% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Tech industry in China. 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¥32.91, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 19x in the Tech industry in China. Total loss to shareholders of 60% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥16.26 per share. Announcement • Dec 04
Sansec Technology Co., Ltd. (SHSE:688489) announces an Equity Buyback for CNY 80 million worth of its shares. Sansec Technology Co., Ltd. (SHSE:688489) announces a share repurchase program. Under the program, the company will repurchase up to CNY 80 million worth of its A shares. The shares will be purchased at a price not exceeding CNY 73.33 per share. The repurchased shares will be used for the implementation of ESOP or equity incentive plan. The program will be valid for 12 months. Reported Earnings • Oct 27
Third quarter 2023 earnings released Third quarter 2023 results: EPS: CN¥0.26. Net income: CN¥29.6m (up CN¥29.6m from 3Q 2022). Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Tech industry in China. Reported Earnings • Aug 25
Second quarter 2023 earnings released Second quarter 2023 results: EPS: CN¥0.12. Net income: CN¥13.9m (up CN¥13.9m from 2Q 2022). Revenue is forecast to grow 33% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Tech industry in China. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥48.36, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 23x in the Tech industry in China. Announcement • Jul 01
Sansec Technology Co., Ltd. (SHSE:688489) completed the acquisition of 66.9349% stake in Guangzhou JN Union Technology Co., Ltd. from Guangdong Chenglianxin Information Technology Co., Ltd. Sansec Technology Co., Ltd. (SHSE:688489) entered into an agreement to acquire 66.9349% stake in Guangzhou JN Union Technology Co., Ltd. from Guangdong Chenglianxin Information Technology Co., Ltd. for CNY 151 million on June 19, 2023. On June 19, 2023, Sansec Technology Co., Ltd held the 19th meeting of the first board of directors, and reviewed and approved the "Proposal on the Proposed Acquisition of Partial Shares of Guangzhou JN Union Technology Co., Ltd. For the year ended December 2022, Total Assets were of CNY 105 million, Net Assets were of CNY 76 million, Operating Profit was of CNY 117 million and Net Profit was of CNY 22 million.
Sansec Technology Co., Ltd. (SHSE:688489) completed the acquisition of 66.9349% stake in Guangzhou JN Union Technology Co., Ltd. from Guangdong Chenglianxin Information Technology Co., Ltd. on June 29, 2023. Reported Earnings • Mar 29
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: CN¥1.82 (up from CN¥1.30 in FY 2021). Revenue: CN¥339.8m (up 26% from FY 2021). Net income: CN¥107.2m (up 44% from FY 2021). Profit margin: 32% (up from 28% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) exceeded analyst estimates by 31%. Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Tech industry in China. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥106, the stock trades at a forward P/E ratio of 53x. Average forward P/E is 28x in the Tech industry in China. Reported Earnings • Feb 25
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: CN¥1.79 (up from CN¥1.30 in FY 2021). Revenue: CN¥339.3m (up 26% from FY 2021). Net income: CN¥105.7m (up 42% from FY 2021). Profit margin: 31% (up from 28% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) exceeded analyst estimates by 31%. Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Tech industry in China.