New Risk • May 14
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (27% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Announcement • Apr 20
Guangdong Naruida Technology Co., Ltd., Annual General Meeting, May 08, 2026 Guangdong Naruida Technology Co., Ltd., Annual General Meeting, May 08, 2026, at 14:30 China Standard Time. Location: Tangyi Hotel, Gangwan No. 1, Science and Technology Innovation Park, Jintang Road, Zhuhai, Guangdong China Reported Earnings • Apr 19
First quarter 2026 earnings released: EPS: CN¥0.09 (vs CN¥0.071 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.09 (up from CN¥0.071 in 1Q 2025). Revenue: CN¥98.9m (up 70% from 1Q 2025). Net income: CN¥26.4m (up 22% from 1Q 2025). Profit margin: 27% (down from 37% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 56% 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 4% per year whereas the company’s share price has increased by 8% per year. Announcement • Mar 30
Guangdong Naruida Technology Co., Ltd. to Report Q1, 2026 Results on Apr 18, 2026 Guangdong Naruida Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 18, 2026 Reported Earnings • Mar 05
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.36 (up from CN¥0.25 in FY 2024). Revenue: CN¥460.1m (up 33% from FY 2024). Net income: CN¥108.5m (up 42% from FY 2024). Profit margin: 24% (up from 22% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 46%. Earnings per share (EPS) also missed analyst estimates by 70%. Revenue is forecast to grow 52% 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 6% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Jan 29
Now 22% undervalued Over the last 90 days, the stock has risen 5.2% to CN¥41.02. The fair value is estimated to be CN¥52.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has declined by 9.9%. Revenue is forecast to grow by 264% in 2 years. Earnings are forecast to grow by 502% in the next 2 years. Announcement • Dec 26
Guangdong Naruida Technology Co., Ltd. to Report Fiscal Year 2025 Results on Apr 18, 2026 Guangdong Naruida Technology Co., Ltd. announced that they will report fiscal year 2025 results on Apr 18, 2026 Reported Earnings • Oct 28
Third quarter 2025 earnings released: EPS: CN¥0.051 (vs CN¥0.056 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.051 (down from CN¥0.056 in 3Q 2024). Revenue: CN¥99.1m (up 56% from 3Q 2024). Net income: CN¥16.2m (down 19% from 3Q 2024). Profit margin: 16% (down from 32% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 51% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Electronic industry in China. Announcement • Sep 30
Naruida Technology Co., Ltd. to Report Q3, 2025 Results on Oct 28, 2025 Naruida Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 28, 2025 Reported Earnings • Aug 29
Second quarter 2025 earnings released: EPS: CN¥0.12 (vs CN¥0.006 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.12 (up from CN¥0.006 in 2Q 2024). Revenue: CN¥96.7m (up 134% from 2Q 2024). Net income: CN¥35.3m (up CN¥33.6m from 2Q 2024). Profit margin: 37% (up from 4.0% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 49% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in China. Announcement • Jun 30
Naruida Technology Co., Ltd. to Report First Half, 2025 Results on Aug 26, 2025 Naruida Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 26, 2025 Declared Dividend • May 31
Dividend of CN¥0.10 announced Shareholders will receive a dividend of CN¥0.10. Ex-date: 6th June 2025 Payment date: 6th June 2025 Dividend yield will be 0.1%, which is lower than the industry average of 1.8%. Payout Ratios Payout ratio: 23%. Cash payout ratio: 33%. Announcement • Apr 20
Naruida Technology Co., Ltd., Annual General Meeting, May 09, 2025 Naruida Technology Co., Ltd., Annual General Meeting, May 09, 2025, at 14:30 China Standard Time. Location: Tangyi Hotel, Gangwan No. 1, Science and Technology Innovation Park, Jintang Road, Zhuhai, Guangdong China Reported Earnings • Apr 19
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.35 (up from CN¥0.31 in FY 2023). Revenue: CN¥345.3m (up 63% from FY 2023). Net income: CN¥76.6m (up 21% from FY 2023). Profit margin: 22% (down from 30% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 20%. Earnings per share (EPS) also missed analyst estimates by 48%. Revenue is forecast to grow 50% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Electronic industry in China. New Risk • Apr 07
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 7.7% 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. This is currently the only risk that has been identified for the company. Announcement • Mar 28
Naruida Technology Co., Ltd. to Report Q1, 2025 Results on Apr 19, 2025 Naruida Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 19, 2025 Reported Earnings • Mar 02
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.35 (up from CN¥0.31 in FY 2023). Revenue: CN¥345.3m (up 63% from FY 2023). Net income: CN¥75.8m (up 20% from FY 2023). Profit margin: 22% (down from 30% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 20%. Earnings per share (EPS) also missed analyst estimates by 48%. Revenue is forecast to grow 50% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electronic industry in China. New Risk • Feb 13
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 8.5% 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 (22% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Profit margins are more than 30% lower than last year (24% net profit margin). Announcement • Jan 23
Naruida Technology Co., Ltd. announced a financing transaction Naruida Technology Co., Ltd. announced a private placement to issue A shares on January 21, 2025. The transaction will include participation from not more than 35 investors. The transaction has been approved by the eighth meeting of the second session of the Board of Directors and the seventh meeting of the second session of the Board of Supervisors and is subject to Shanghai Stock Exchange and registered with the China Securities Regulatory Commission. The shares shall not be transferred within six months from the date of the completion of their issuance. Price Target Changed • Jan 22
Price target increased by 78% to CN¥92.62 Up from CN¥52.00, the current price target is provided by 1 analyst. New target price is 68% above last closing price of CN¥55.00. Stock is up 90% over the past year. The company is forecast to post earnings per share of CN¥0.92 for next year compared to CN¥0.31 last year. Board Change • Jan 22
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. 3 non-independent directors. Independent Director Jianbo Xia was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Dec 27
Naruida Technology Co., Ltd. to Report Fiscal Year 2024 Results on Apr 19, 2025 Naruida Technology Co., Ltd. announced that they will report fiscal year 2024 results on Apr 19, 2025 Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.078 (vs CN¥0.11 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.078 (down from CN¥0.11 in 3Q 2023). Revenue: CN¥63.4m (down 9.6% from 3Q 2023). Net income: CN¥20.1m (down 8.4% from 3Q 2023). Profit margin: 32% (in line with 3Q 2023). Revenue is forecast to grow 61% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in China. Announcement • Sep 30
Naruida Technology Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Naruida Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: CN¥0.009 (vs CN¥0.044 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.009 (down from CN¥0.044 in 2Q 2023). Revenue: CN¥41.3m (up 11% from 2Q 2023). Net income: CN¥1.66m (down 85% from 2Q 2023). Profit margin: 4.0% (down from 29% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 57% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in China. Announcement • Jun 29
Naruida Technology Co., Ltd. to Report First Half, 2024 Results on Aug 17, 2024 Naruida Technology Co., Ltd. announced that they will report first half, 2024 results on Aug 17, 2024 Announcement • Apr 21
Naruida Technology Co., Ltd., Annual General Meeting, May 10, 2024 Naruida Technology Co., Ltd., Annual General Meeting, May 10, 2024, at 14:30 China Standard Time. Location: Tangyi Hotel, Gangwan No. 1, Science and Technology Innovation Park, Jintang Road, Zhuhai, Guangdong China Reported Earnings • Apr 20
First quarter 2024 earnings released: EPS: CN¥0.03 (vs CN¥0.07 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.03 (down from CN¥0.07 in 1Q 2023). Revenue: CN¥31.5m (down 10% from 1Q 2023). Net income: CN¥4.23m (down 50% from 1Q 2023). Profit margin: 13% (down from 24% in 1Q 2023). The decrease in margin was primarily driven by lower revenue. Announcement • Mar 30
Naruida Technology Co., Ltd. to Report Q1, 2024 Results on Apr 20, 2024 Naruida Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 20, 2024 New Risk • Mar 19
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 9.7% 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: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.7% average weekly change). Profit margins are more than 30% lower than last year (31% net profit margin). Announcement • Mar 02
Naruida Technology Co., Ltd. (SHSE:688522) announces an Equity Buyback for CNY 30 million worth of its shares. Naruida Technology Co., Ltd. (SHSE:688522) announces a share repurchase program. Under the program, the company will repurchase up to CNY 30 million worth of its class A shares. The shares will be repurchased at no more than CNY 57.25 per share. The purpose of the program is to use the shares for ESOP or equity incentives. The program will be funded from company's own funds. The plan will be valid for 12 months. Reported Earnings • Feb 25
Full year 2023 earnings released: EPS: CN¥0.42 (vs CN¥0.91 in FY 2022) Full year 2023 results: EPS: CN¥0.42 (down from CN¥0.91 in FY 2022). Revenue: CN¥212.5m (up 1.2% from FY 2022). Net income: CN¥64.8m (down 39% from FY 2022). Profit margin: 31% (down from 51% in FY 2022). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥37.60, the stock trades at a trailing P/E ratio of 56.4x. Average trailing P/E is 33x in the Electronic industry in China. Valuation Update With 7 Day Price Move • Jan 23
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥41.48, the stock trades at a trailing P/E ratio of 62.2x. Average trailing P/E is 39x in the Electronic industry in China. Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.078 (vs CN¥0.37 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.078 (down from CN¥0.37 in 3Q 2022). Revenue: CN¥41.3m (down 49% from 3Q 2022). Net income: CN¥13.9m (down 68% from 3Q 2022). Profit margin: 34% (down from 54% in 3Q 2022). Valuation Update With 7 Day Price Move • Oct 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥49.97, the stock trades at a trailing P/E ratio of 72.2x. Average trailing P/E is 41x in the Electronic industry in China. Reported Earnings • Aug 12
Second quarter 2023 earnings released Second quarter 2023 results: EPS: CN¥0.062. Net income: CN¥10.9m (up CN¥10.9m from 2Q 2022).