Buy Or Sell Opportunity • May 14
Now 23% undervalued Over the last 90 days, the stock has risen 55% to CN¥107. The fair value is estimated to be CN¥140, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Earnings per share has grown by 41%. For the next 3 years, revenue is forecast to grow by 26% per annum. Earnings are also forecast to grow by 29% per annum over the same time period. Declared Dividend • May 04
Dividend of CN¥0.50 announced Dividend of CN¥0.50 is the same as last year. Ex-date: 8th May 2026 Payment date: 8th May 2026 Dividend yield will be 0.5%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (22% 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 increased by an average of 31% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 112% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Apr 22
Price target increased by 9.0% to CN¥107 Up from CN¥98.24, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of CN¥103. Stock is up 268% over the past year. The company is forecast to post earnings per share of CN¥2.96 for next year compared to CN¥1.99 last year. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥88.32, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 31x in the Electronic industry in China. Total returns to shareholders of 312% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥44.10 per share. Announcement • Mar 31
Wus Printed Circuit (Kunshan) Co., Ltd. to Report Q1, 2026 Results on Apr 23, 2026 Wus Printed Circuit (Kunshan) Co., Ltd. announced that they will report Q1, 2026 results on Apr 23, 2026 Reported Earnings • Mar 26
Full year 2025 earnings: EPS in line with expectations, revenues disappoint Full year 2025 results: EPS: CN¥1.99 (up from CN¥1.35 in FY 2024). Revenue: CN¥18.9b (up 42% from FY 2024). Net income: CN¥3.82b (up 48% from FY 2024). Profit margin: 20% (in line with FY 2024). Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 27% 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 39% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 24
Wus Printed Circuit (Kunshan) Co., Ltd., Annual General Meeting, Apr 23, 2026 Wus Printed Circuit (Kunshan) Co., Ltd., Annual General Meeting, Apr 23, 2026, at 14:00 China Standard Time. Location: 2F, No. 8, Heilongjiang North Road, Kunshan, Jiangsu China Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥91.00, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 33x in the Electronic industry in China. Total returns to shareholders of 396% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥44.49 per share. Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥85.36, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 34x in the Electronic industry in China. Total returns to shareholders of 440% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥43.70 per share. Reported Earnings • Jan 29
Full year 2025 earnings released: EPS: CN¥1.99 (vs CN¥1.35 in FY 2024) Full year 2025 results: EPS: CN¥1.99 (up from CN¥1.35 in FY 2024). Revenue: CN¥18.9b (up 42% from FY 2024). Net income: CN¥3.82b (up 48% from FY 2024). Profit margin: 20% (in line with FY 2024). Revenue is forecast to grow 25% 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 39% per year but the company’s share price has increased by 70% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 31
Wus Printed Circuit (Kunshan) Co., Ltd. to Report Fiscal Year 2025 Results on Mar 25, 2026 Wus Printed Circuit (Kunshan) Co., Ltd. announced that they will report fiscal year 2025 results on Mar 25, 2026 Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥72.09, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 29x in the Electronic industry in China. Total returns to shareholders of 505% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥42.71 per share. Reported Earnings • Oct 29
Third quarter 2025 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2025 results: EPS: CN¥0.54 (up from CN¥0.37 in 3Q 2024). Revenue: CN¥5.02b (up 40% from 3Q 2024). Net income: CN¥1.03b (up 46% from 3Q 2024). Profit margin: 21% (in line with 3Q 2024). Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has increased by 93% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥77.51, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 32x in the Electronic industry in China. Total returns to shareholders of 639% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥42.37 per share. Announcement • Sep 30
Wus Printed Circuit (Kunshan) Co., Ltd. to Report Q3, 2025 Results on Oct 29, 2025 Wus Printed Circuit (Kunshan) Co., Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 Price Target Changed • Sep 15
Price target increased by 28% to CN¥65.80 Up from CN¥51.51, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of CN¥68.94. Stock is up 103% over the past year. The company is forecast to post earnings per share of CN¥1.91 for next year compared to CN¥1.35 last year. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥69.83, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 31x in the Electronic industry in China. Total returns to shareholders of 542% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥43.14 per share. New Risk • Sep 04
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 8.8% 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 Risks Share price has been highly volatile over the past 3 months (8.8% average weekly change). High level of non-cash earnings (23% accrual ratio). Minor Risk Dividend is not well covered by cash flows (234% cash payout ratio). Valuation Update With 7 Day Price Move • Aug 28
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥64.12, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 32x in the Electronic industry in China. Total returns to shareholders of 465% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥43.72 per share. Reported Earnings • Aug 22
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: CN¥0.48 (up from CN¥0.33 in 2Q 2024). Revenue: CN¥4.46b (up 57% from 2Q 2024). Net income: CN¥920.3m (up 47% from 2Q 2024). Profit margin: 21% (down from 22% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.2%. Earnings per share (EPS) also surpassed analyst estimates by 10.0%. Revenue is forecast to grow 19% 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 36% per year but the company’s share price has increased by 65% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jul 04
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 54% to CN¥47.30. The fair value is estimated to be CN¥37.42, 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 33%. Revenue is forecast to grow by 47% in 2 years. Earnings are forecast to grow by 64% in the next 2 years. Announcement • Jul 02
Wus Printed Circuit (Kunshan) Co., Ltd. to Report First Half, 2025 Results on Aug 22, 2025 Wus Printed Circuit (Kunshan) Co., Ltd. announced that they will report first half, 2025 results on Aug 22, 2025 New Risk • Jun 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 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: Major Risk High level of non-cash earnings (20% accrual ratio). Minor Risks Dividend is not well covered by cash flows (244% cash payout ratio). Share price has been volatile over the past 3 months (8.3% average weekly change). Buy Or Sell Opportunity • Jun 18
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 29% to CN¥44.64. The fair value is estimated to be CN¥35.73, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to grow by 46% in 2 years. Earnings are forecast to grow by 62% in the next 2 years. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥36.41, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 25x in the Electronic industry in China. Total returns to shareholders of 123% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥35.62 per share. Price Target Changed • May 24
Price target decreased by 8.1% to CN¥45.64 Down from CN¥49.64, the current price target is an average from 5 analysts. New target price is 50% above last closing price of CN¥30.47. Stock is down 2.5% over the past year. The company is forecast to post earnings per share of CN¥1.82 for next year compared to CN¥1.35 last year. Declared Dividend • May 12
Dividend of CN¥0.50 announced Dividend of CN¥0.50 is the same as last year. Ex-date: 14th May 2025 Payment date: 14th May 2025 Dividend yield will be 1.6%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (34% earnings payout ratio) but not covered by cash flows (244% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 81% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Apr 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 31% to CN¥28.49. The fair value is estimated to be CN¥35.64, 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 33%. Revenue is forecast to grow by 40% in 2 years. Earnings are forecast to grow by 57% in the next 2 years. Price Target Changed • Apr 26
Price target decreased by 9.1% to CN¥49.64 Down from CN¥54.62, the current price target is an average from 5 analysts. New target price is 70% above last closing price of CN¥29.20. Stock is down 12% over the past year. The company is forecast to post earnings per share of CN¥1.65 for next year compared to CN¥1.35 last year. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥27.71, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 27x in the Electronic industry in China. Total returns to shareholders of 151% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥24.02 per share. Announcement • Mar 31
Wus Printed Circuit (Kunshan) Co., Ltd. to Report Q1, 2025 Results on Apr 25, 2025 Wus Printed Circuit (Kunshan) Co., Ltd. announced that they will report Q1, 2025 results on Apr 25, 2025 Reported Earnings • Mar 30
Full year 2024 earnings: EPS in line with analyst expectations despite revenue beat Full year 2024 results: EPS: CN¥1.35 (up from CN¥0.79 in FY 2023). Revenue: CN¥13.3b (up 49% from FY 2023). Net income: CN¥2.59b (up 71% from FY 2023). Profit margin: 19% (up from 17% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 8.0%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 17% 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 31% per year whereas the company’s share price has increased by 35% per year. Announcement • Mar 26
Wus Printed Circuit (Kunshan) Co., Ltd., Annual General Meeting, Apr 28, 2025 Wus Printed Circuit (Kunshan) Co., Ltd., Annual General Meeting, Apr 28, 2025, at 15:00 China Standard Time. Location: 2F, No. 8, Heilongjiang North Road, Kunshan, Jiangsu China 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 8.0% 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 Dividend is not well covered by cash flows (122% cash payout ratio). Share price has been volatile over the past 3 months (8.0% average weekly change). Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥35.07, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 31x in the Electronic industry in China. Total returns to shareholders of 124% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥27.52 per share. Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥45.58, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 27x in the Electronic industry in China. Total returns to shareholders of 156% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥28.88 per share. Announcement • Dec 31
Wus Printed Circuit (Kunshan) Co., Ltd. to Report Fiscal Year 2024 Results on Mar 26, 2025 Wus Printed Circuit (Kunshan) Co., Ltd. announced that they will report fiscal year 2024 results on Mar 26, 2025 Price Target Changed • Oct 25
Price target increased by 8.2% to CN¥46.79 Up from CN¥43.24, the current price target is an average from 5 analysts. New target price is 5.7% above last closing price of CN¥44.28. Stock is up 127% over the past year. The company is forecast to post earnings per share of CN¥1.33 for next year compared to CN¥0.79 last year. Reported Earnings • Oct 25
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: EPS: CN¥0.37 (up from CN¥0.24 in 3Q 2023). Revenue: CN¥3.59b (up 55% from 3Q 2023). Net income: CN¥707.6m (up 54% from 3Q 2023). Profit margin: 20% (in line with 3Q 2023). Revenue exceeded analyst estimates by 19%. Earnings per share (EPS) missed analyst estimates by 2.5%. Revenue is forecast to grow 17% 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 26% per year but the company’s share price has increased by 63% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 30
Wus Printed Circuit (Kunshan) Co., Ltd. to Report Q3, 2024 Results on Oct 25, 2024 Wus Printed Circuit (Kunshan) Co., Ltd. announced that they will report Q3, 2024 results on Oct 25, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to CN¥40.16, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 21x in the Electronic industry in China. Total returns to shareholders of 270% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥25.14 per share. Buy Or Sell Opportunity • Sep 10
Now 22% overvalued Over the last 90 days, the stock has fallen 6.1% to CN¥30.89. The fair value is estimated to be CN¥25.23, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 49% in 2 years. Earnings are forecast to grow by 62% in the next 2 years. Reported Earnings • Aug 23
Second quarter 2024 earnings released: EPS: CN¥0.33 (vs CN¥0.15 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.33 (up from CN¥0.15 in 2Q 2023). Revenue: CN¥2.84b (up 50% from 2Q 2023). Net income: CN¥626.0m (up 114% from 2Q 2023). Profit margin: 22% (up from 15% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% 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 19% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 29
Wus Printed Circuit (Kunshan) Co., Ltd. to Report First Half, 2024 Results on Aug 23, 2024 Wus Printed Circuit (Kunshan) Co., Ltd. announced that they will report first half, 2024 results on Aug 23, 2024 Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥37.75, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 23x in the Electronic industry in China. Total returns to shareholders of 197% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥26.25 per share. Board Change • May 11
High number of new directors Independent Director Yongcui Wang was the last director to join the board, commencing their role in 2023. Announcement • Mar 30
Wus Printed Circuit (Kunshan) Co., Ltd. to Report Q1, 2024 Results on Apr 23, 2024 Wus Printed Circuit (Kunshan) Co., Ltd. announced that they will report Q1, 2024 results on Apr 23, 2024 Reported Earnings • Mar 27
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: CN¥0.79 (up from CN¥0.72 in FY 2022). Revenue: CN¥8.94b (up 7.2% from FY 2022). Net income: CN¥1.49b (up 9.4% from FY 2022). Profit margin: 17% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.8%. Revenue is forecast to grow 18% 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 4% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 26
Wus Printed Circuit (Kunshan) Co., Ltd., Annual General Meeting, Apr 29, 2024 Wus Printed Circuit (Kunshan) Co., Ltd., Annual General Meeting, Apr 29, 2024, at 14:30 China Standard Time. Location: 2F, No. 8, Heilongjiang North Road, Kunshan, Jiangsu China Price Target Changed • Mar 26
Price target increased by 8.2% to CN¥28.60 Up from CN¥26.44, the current price target is an average from 4 analysts. New target price is 8.1% below last closing price of CN¥31.10. Stock is up 48% over the past year. The company is forecast to post earnings per share of CN¥0.77 for next year compared to CN¥0.72 last year. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥31.74, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 21x in the Electronic industry in China. Total returns to shareholders of 110% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥14.70 per share. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥22.90, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 16x in the Electronic industry in China. Total returns to shareholders of 56% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥22.59 per share. Announcement • Dec 30
Wus Printed Circuit (Kunshan) Co., Ltd. to Report Fiscal Year 2023 Results on Mar 26, 2024 Wus Printed Circuit (Kunshan) Co., Ltd. announced that they will report fiscal year 2023 results on Mar 26, 2024 Announcement • Dec 14
Wus Printed Circuit (Kunshan) Co., Ltd. Approves Election of Wang Yongcui as an Independent Director Wus Printed Circuit (Kunshan) Co., Ltd. at its EGM held on 12 December 2023 approved Election of Wang Yongcui as an independent director. Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: CN¥0.24 (vs CN¥0.20 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.24 (up from CN¥0.20 in 3Q 2022). Revenue: CN¥2.32b (up 14% from 3Q 2022). Net income: CN¥460.5m (up 19% from 3Q 2022). Profit margin: 20% (in line with 3Q 2022). Revenue is forecast to grow 20% 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 1% per year whereas the company’s share price has increased by 5% per year. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥21.90, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 20x in the Electronic industry in China. Total returns to shareholders of 28% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥14.93 per share. Major Estimate Revision • Sep 04
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¥9.68b to CN¥8.95b. EPS estimate also fell from CN¥0.863 per share to CN¥0.748 per share. Net income forecast to grow 33% next year vs 62% growth forecast for Electronic industry in China. Consensus price target of CN¥24.90 unchanged from last update. Share price rose 6.0% to CN¥21.46 over the past week. Reported Earnings • Aug 26
Second quarter 2023 earnings released: EPS: CN¥0.15 (vs CN¥0.15 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.15 (up from CN¥0.15 in 2Q 2022). Revenue: CN¥1.90b (up 4.2% from 2Q 2022). Net income: CN¥292.3m (up 2.8% from 2Q 2022). Profit margin: 15% (in line with 2Q 2022). Revenue is forecast to grow 20% 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 fallen by 2% per year whereas the company’s share price has increased by 1% per year. Price Target Changed • Aug 04
Price target increased by 7.2% to CN¥22.97 Up from CN¥21.43, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of CN¥22.98. Stock is up 72% over the past year. The company is forecast to post earnings per share of CN¥0.87 for next year compared to CN¥0.72 last year. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥24.42, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 25x in the Electronic industry in China. Total returns to shareholders of 12% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥10.75 per share. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥19.55, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 24x in the Electronic industry in China. Total loss to shareholders of 9.6% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥10.41 per share. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥20.89, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 24x in the Electronic industry in China. Total loss to shareholders of 2.7% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥10.36 per share. Valuation Update With 7 Day Price Move • May 16
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥18.50, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 22x 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¥10.43 per share. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥26.07, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 25x in the Electronic industry in China. Total returns to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥12.03 per share. Price Target Changed • Apr 11
Price target increased by 10.0% to CN¥20.94 Up from CN¥19.05, the current price target is an average from 7 analysts. New target price is 11% below last closing price of CN¥23.63. Stock is up 109% over the past year. The company is forecast to post earnings per share of CN¥0.90 for next year compared to CN¥0.72 last year. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥25.75, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 26x in the Electronic industry in China. Total returns to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥12.03 per share. Reported Earnings • Mar 24
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: CN¥0.72 (up from CN¥0.56 in FY 2021). Revenue: CN¥8.34b (up 12% from FY 2021). Net income: CN¥1.36b (up 28% from FY 2021). Profit margin: 16% (up from 14% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) also surpassed analyst estimates by 3.7%. Revenue is forecast to grow 16% 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 fallen by 4% per year whereas the company’s share price has fallen by 2% per year. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to CN¥19.04, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 25x in the Electronic industry in China. Total loss to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥10.02 per share. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥16.48, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 26x in the Electronic industry in China. Total loss to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥8.71 per share. Reported Earnings • Feb 01
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: CN¥0.72 (up from CN¥0.56 in FY 2021). Revenue: CN¥8.34b (up 12% from FY 2021). Net income: CN¥1.36b (up 28% from FY 2021). Profit margin: 16% (up from 14% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) also surpassed analyst estimates by 3.7%. Revenue is forecast to grow 18% 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 fallen by 4% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Announcement • Dec 23
Wus Printed Circuit (Kunshan) Co., Ltd. (SZSE:002463) entered into an agreement to acquire additional 57% stake in Schweizer Electronic (Jiangsu) Co., Ltd. from Schweizer Electronic AG (XTRA:SCE) for CNY 33.45 million. Wus Printed Circuit (Kunshan) Co., Ltd. (SZSE:002463) entered into an agreement to acquire additional 57% stake in Schweizer Electronic (Jiangsu) Co., Ltd. from Schweizer Electronic AG (XTRA:SCE) for CNY 33.45 million on December 21, 2022. The purchase price for the shares in SEC to be transferred under the Share Transfer Agreement amounts to CNY 33.45 million. Following the transfer of the shares, WUS is to subscribe for and acquire further shares in SEC as part of an increase in SEC's share capital which has yet to be resolved. The Supervisory Board of Schweizer Electronic AG approved the conclusion of the Share Transfer Agreement on December 21, 2022. The Agreement still requires the approval of the shareholders' meeting of WUS to become effective. After implementation of the future capital increase, WUS will hold an 80 % interest in SEC. The closing of the transaction (Closing) is expected to take place in three to four months. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Deputy GM & Non-Independent Director Wen Xian Gao was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥12.83, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 20x in the Electronic industry in China. Total loss to shareholders of 34% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥11.92 per share. Reported Earnings • Oct 25
Third quarter 2022 earnings: EPS exceeds analyst expectations Third quarter 2022 results: EPS: CN¥0.20 (up from CN¥0.16 in 3Q 2021). Revenue: CN¥2.03b (up 8.5% from 3Q 2021). Net income: CN¥387.7m (up 27% from 3Q 2021). Profit margin: 19% (up from 16% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 17%. Revenue is forecast to grow 20% 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 fallen by 3% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Buying Opportunity • Sep 26
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 32%. The fair value is estimated to be CN¥13.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.3% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 43% in 2 years. Earnings is forecast to grow by 66% in the next 2 years. Reported Earnings • Aug 24
Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2022 results: EPS: CN¥0.15 (up from CN¥0.14 in 2Q 2021). Revenue: CN¥1.82b (up 1.3% from 2Q 2021). Net income: CN¥284.3m (up 9.6% from 2Q 2021). Profit margin: 16% (up from 14% in 2Q 2021). Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) missed analyst estimates by 21%. Over the next year, revenue is forecast to grow 24%, 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 1% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Buying Opportunity • Jul 25
Now 22% undervalued Over the last 90 days, the stock is up 5.4%. The fair value is estimated to be CN¥15.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.7% over the last 3 years. Earnings per share has grown by 7.9%. Revenue is forecast to grow by 44% in 2 years. Earnings is forecast to grow by 66% in the next 2 years. Price Target Changed • May 17
Price target increased to CN¥17.97 Up from CN¥16.20, the current price target is an average from 8 analysts. New target price is 21% above last closing price of CN¥14.80. Stock is up 11% over the past year. The company is forecast to post earnings per share of CN¥0.73 for next year compared to CN¥0.56 last year. Announcement • May 08
Wus Printed Circuit (Kunshan) Co., Ltd. Announces Final Dividend on A Shares for the Year 2021, Payable on 13 May 2022 Wus Printed Circuit (Kunshan) Co., Ltd. announced final cash dividend/10 shares (tax included) of CNY 1.50000000 on A shares for the year 2021. Record date is 12 May 2022. Ex-date is 13 May 2022. Payment date is 13 May 2022. Valuation Update With 7 Day Price Move • May 02
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥13.00, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 18x in the Electronic industry in China. Total returns to shareholders of 44% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥14.11 per share. 
