Reported Earnings • Apr 23
First quarter 2026 earnings released: EPS: CN¥0.36 (vs CN¥0.23 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.36 (up from CN¥0.23 in 1Q 2025). Revenue: CN¥6.20b (up 24% from 1Q 2025). Net income: CN¥246.9m (up 53% from 1Q 2025). Profit margin: 4.0% (up from 3.2% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.1% p.a. on average during the next 3 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 26% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Announcement • Mar 31
Guangzhou Shiyuan Electronic Technology Company Limited to Report Q1, 2026 Results on Apr 23, 2026 Guangzhou Shiyuan Electronic Technology Company Limited announced that they will report Q1, 2026 results on Apr 23, 2026 Reported Earnings • Mar 25
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: CN¥1.48 (up from CN¥1.41 in FY 2024). Revenue: CN¥24.4b (up 8.7% from FY 2024). Net income: CN¥1.01b (up 4.4% from FY 2024). Profit margin: 4.2% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 11% 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 fallen by 31% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Announcement • Mar 24
Guangzhou Shiyuan Electronic Technology Company Limited, Annual General Meeting, Apr 16, 2026 Guangzhou Shiyuan Electronic Technology Company Limited, Annual General Meeting, Apr 16, 2026, at 15:30 China Standard Time. Location: The Company's Meeting Room, Guangzhou, Guangdong China Announcement • Dec 31
Guangzhou Shiyuan Electronic Technology Company Limited to Report Fiscal Year 2025 Results on Apr 24, 2026 Guangzhou Shiyuan Electronic Technology Company Limited announced that they will report fiscal year 2025 results on Apr 24, 2026 Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥43.61, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 32x in the Electronic industry in China. Total loss to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥79.48 per share. Reported Earnings • Oct 22
Third quarter 2025 earnings released: EPS: CN¥0.68 (vs CN¥0.63 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.68 (up from CN¥0.63 in 3Q 2024). Revenue: CN¥7.52b (up 7.0% from 3Q 2024). Net income: CN¥469.5m (up 7.8% from 3Q 2024). Profit margin: 6.2% (in line with 3Q 2024). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
Guangzhou Shiyuan Electronic Technology Company Limited to Report Q3, 2025 Results on Oct 21, 2025 Guangzhou Shiyuan Electronic Technology Company Limited announced that they will report Q3, 2025 results on Oct 21, 2025 Reported Earnings • Aug 31
Second quarter 2025 earnings released: EPS: CN¥0.35 (vs CN¥0.45 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.35 (down from CN¥0.45 in 2Q 2024). Revenue: CN¥5.56b (down 1.2% from 2Q 2024). Net income: CN¥235.7m (down 26% from 2Q 2024). Profit margin: 4.2% (down from 5.6% in 2Q 2024). Revenue is forecast to grow 12% 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 31% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Announcement • Jul 02
Guangzhou Shiyuan Electronic Technology Company Limited to Report First Half, 2025 Results on Aug 27, 2025 Guangzhou Shiyuan Electronic Technology Company Limited announced that they will report first half, 2025 results on Aug 27, 2025 Price Target Changed • Jun 05
Price target increased by 8.2% to CN¥44.65 Up from CN¥41.27, the current price target is an average from 2 analysts. New target price is 28% above last closing price of CN¥34.97. Stock is up 9.7% over the past year. The company is forecast to post earnings per share of CN¥1.69 for next year compared to CN¥1.41 last year. Announcement • Jun 05
Guangzhou Shiyuan Electronic Technology Company Limited Approves Cash Dividend for the Year 2024 Guangzhou Shiyuan Electronic Technology Company Limited announced that at its AGM held on 30 May 2025, the shareholders approved 2024 profit distribution plan: cash dividend/10 shares (tax included) of CNY 6.80000000. Announcement • Apr 25
Guangzhou Shiyuan Electronic Technology Company Limited Proposes Final Cash Dividend for 2024 Guangzhou Shiyuan Electronic Technology Company Limited proposed final cash dividend of CNY 6.80000000 per 10 shares (tax included) for 2024. Reported Earnings • Apr 24
First quarter 2025 earnings released: EPS: CN¥0.23 (vs CN¥0.26 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.23 (down from CN¥0.26 in 1Q 2024). Revenue: CN¥5.00b (up 11% from 1Q 2024). Net income: CN¥162.0m (down 9.2% from 1Q 2024). Profit margin: 3.2% (down from 4.0% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.5% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 27% per year whereas the company’s share price has fallen by 24% per year. Announcement • Apr 24
Guangzhou Shiyuan Electronic Technology Company Limited, Annual General Meeting, May 30, 2025 Guangzhou Shiyuan Electronic Technology Company Limited, Annual General Meeting, May 30, 2025, at 15:30 China Standard Time. Location: The Company's Meeting Room, Guangzhou, Guangdong China Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥32.35, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 23x in the Electronic industry in China. Total loss to shareholders of 50% over the past three years. Announcement • Mar 31
Guangzhou Shiyuan Electronic Technology Company Limited to Report Q1, 2025 Results on Apr 24, 2025 Guangzhou Shiyuan Electronic Technology Company Limited announced that they will report Q1, 2025 results on Apr 24, 2025 Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥39.65, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 31x in the Electronic industry in China. Total loss to shareholders of 50% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥67.07 per share. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥40.46, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 28x in the Electronic industry in China. Total loss to shareholders of 44% over the past three years. New Risk • Jan 24
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.3% Last year net profit margin: 6.8% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (4.3% net profit margin). Reported Earnings • Jan 24
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥1.41 (down from CN¥1.97 in FY 2023). Revenue: CN¥22.5b (up 11% from FY 2023). Net income: CN¥971.7m (down 29% from FY 2023). Profit margin: 4.3% (down from 6.8% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 20%. Revenue is forecast to grow 11% 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 fallen by 21% per year whereas the company’s share price has fallen by 23% per year. Announcement • Dec 31
Guangzhou Shiyuan Electronic Technology Company Limited to Report Fiscal Year 2024 Results on Apr 24, 2025 Guangzhou Shiyuan Electronic Technology Company Limited announced that they will report fiscal year 2024 results on Apr 24, 2025 Major Estimate Revision • Oct 30
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from CN¥1.95 to CN¥1.73 per share. Revenue forecast steady at CN¥23.0b. Net income forecast to grow 17% next year vs 54% growth forecast for Electronic industry in China. Consensus price target of CN¥40.40 unchanged from last update. Share price fell 6.0% to CN¥36.64 over the past week. Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: CN¥0.63 (vs CN¥0.66 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.63 (down from CN¥0.66 in 3Q 2023). Revenue: CN¥7.03b (flat on 3Q 2023). Net income: CN¥435.5m (down 5.1% from 3Q 2023). Profit margin: 6.2% (down from 6.5% in 3Q 2023). Revenue is forecast to grow 11% 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 fallen by 15% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Announcement • Sep 30
Guangzhou Shiyuan Electronic Technology Company Limited to Report Q3, 2024 Results on Oct 24, 2024 Guangzhou Shiyuan Electronic Technology Company Limited 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 22% After last week's 22% share price gain to CN¥36.86, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 21x in the Electronic industry in China. Total loss to shareholders of 50% over the past three years. Buy Or Sell Opportunity • Sep 06
Now 20% undervalued Over the last 90 days, the stock has risen 3.1% to CN¥31.98. The fair value is estimated to be CN¥40.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 12%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 39% in the next 2 years. Major Estimate Revision • Sep 02
Consensus EPS estimates fall by 10%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from CN¥22.3b to CN¥23.2b. EPS estimate fell from CN¥2.12 to CN¥1.90 per share. Net income forecast to grow 19% next year vs 53% growth forecast for Electronic industry in China. Consensus price target down from CN¥43.96 to CN¥41.10. Share price rose 9.5% to CN¥31.12 over the past week. New Risk • Aug 27
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 29% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (29% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (5.8% net profit margin). Reported Earnings • Aug 27
Second quarter 2024 earnings released: EPS: CN¥0.45 (vs CN¥0.45 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.45 (down from CN¥0.45 in 2Q 2023). Revenue: CN¥5.63b (up 23% from 2Q 2023). Net income: CN¥316.6m (flat on 2Q 2023). Profit margin: 5.6% (down from 6.9% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.0% 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 fallen by 12% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Buy Or Sell Opportunity • Aug 20
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 18% to CN¥28.40. The fair value is estimated to be CN¥35.51, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 9.1%. Revenue is forecast to grow by 21% in 2 years. Earnings are forecast to grow by 43% in the next 2 years. Announcement • Jul 27
Guangzhou Shiyuan Electronic Technology Company Limited (SZSE:002841) announces an Equity Buyback for CNY 200 million worth of its shares. Guangzhou Shiyuan Electronic Technology Company Limited (SZSE:002841) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its A shares. The shares will be repurchased at a price not more than CNY 43.65 per share. The repurchased shares will be used for equity incentives or employee stock ownership plans. The source of fund for the repurchases will be company's own funds. The program will be valid for a period of 12 months. Announcement • Jun 29
Guangzhou Shiyuan Electronic Technology Company Limited to Report First Half, 2024 Results on Aug 27, 2024 Guangzhou Shiyuan Electronic Technology Company Limited announced that they will report first half, 2024 results on Aug 27, 2024 Board Change • Jun 11
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Yunguo Liu was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Declared Dividend • May 25
Dividend reduced to CN¥0.85 Dividend of CN¥0.85 is 19% lower than last year. Ex-date: 29th May 2024 Payment date: 29th May 2024 Dividend yield will be 2.6%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (47% 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 18% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 58% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • May 15
Consensus EPS estimates increase by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from CN¥22.0b to CN¥22.3b. EPS estimate increased from CN¥1.86 to CN¥2.14 per share. Net income forecast to grow 27% next year vs 58% growth forecast for Electronic industry in China. Consensus price target down from CN¥48.42 to CN¥47.22. Share price was steady at CN¥32.92 over the past week. Major Estimate Revision • May 02
Consensus EPS estimates fall by 22% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥22.7b to CN¥22.0b. EPS estimate also fell from CN¥2.39 per share to CN¥1.86 per share. Net income forecast to grow 15% next year vs 61% growth forecast for Electronic industry in China. Consensus price target down from CN¥50.06 to CN¥48.42. Share price rose 8.0% to CN¥33.53 over the past week. Announcement • Apr 27
Guangzhou Shiyuan Electronic Technology Company Limited Proposes Final Cash Dividend the Year 2023 On April 25, 2024, Guangzhou Shiyuan Electronic Technology Company Limited proposed Final Cash dividend/10 shares (tax included) of CNY 8.50000000 for the year 2023. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.26 (vs CN¥0.41 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.26 (down from CN¥0.41 in 1Q 2023). Revenue: CN¥4.49b (up 20% from 1Q 2023). Net income: CN¥178.4m (down 37% from 1Q 2023). Profit margin: 4.0% (down from 7.6% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.7% 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 fallen by 9% per year but the company’s share price has fallen by 38% per year, which means it is performing significantly worse than earnings. Announcement • Apr 26
Guangzhou Shiyuan Electronic Technology Company Limited, Annual General Meeting, May 16, 2024 Guangzhou Shiyuan Electronic Technology Company Limited, Annual General Meeting, May 16, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Guangzhou, Guangdong China Announcement • Mar 30
Guangzhou Shiyuan Electronic Technology Company Limited to Report Q1, 2024 Results on Apr 25, 2024 Guangzhou Shiyuan Electronic Technology Company Limited announced that they will report Q1, 2024 results on Apr 25, 2024 Major Estimate Revision • Feb 06
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥24.8b to CN¥22.6b. EPS estimate also fell from CN¥2.76 per share to CN¥2.32 per share. Net income forecast to grow 19% next year vs 63% growth forecast for Electronic industry in China. Consensus price target down from CN¥58.54 to CN¥50.60. Share price fell 3.9% to CN¥34.60 over the past week. Price Target Changed • Feb 02
Price target decreased by 8.7% to CN¥53.44 Down from CN¥58.54, the current price target is an average from 5 analysts. New target price is 61% above last closing price of CN¥33.11. Stock is down 48% over the past year. The company is forecast to post earnings per share of CN¥2.61 for next year compared to CN¥1.95 last year. Reported Earnings • Jan 31
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥1.95 (down from CN¥3.05 in FY 2022). Revenue: CN¥20.2b (down 3.9% from FY 2022). Net income: CN¥1.37b (down 34% from FY 2022). Profit margin: 6.8% (down from 9.9% in FY 2022). Revenue missed analyst estimates by 4.2%. Earnings per share (EPS) also missed analyst estimates by 11%. Revenue is forecast to grow 16% 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 38% per year, which means it is performing significantly worse than earnings. Announcement • Jan 23
Guangzhou Shiyuan Electronic Technology Company Limited Approves Board Elections Guangzhou Shiyuan Electronic Technology Company Limited announced at first extraordinary general meeting of 2024 held on 19 January 2024, the shareholders elected Zhou Kaiqi as non-independent director; Liu Yunguo and Zhu Yikun as independent directors; and Chen Hui, shareholder supervisor of the company. Announcement • Dec 29
Guangzhou Shiyuan Electronic Technology Company Limited to Report Fiscal Year 2023 Results on Apr 25, 2024 Guangzhou Shiyuan Electronic Technology Company Limited announced that they will report fiscal year 2023 results on Apr 25, 2024 Buying Opportunity • Dec 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 19%. The fair value is estimated to be CN¥55.51, 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, while earnings per share has been flat. Revenue is forecast to grow by 35% in 2 years. Earnings is forecast to grow by 51% in the next 2 years. Price Target Changed • Oct 26
Price target decreased by 9.8% to CN¥66.64 Down from CN¥73.90, the current price target is an average from 5 analysts. New target price is 58% above last closing price of CN¥42.30. Stock is down 38% over the past year. The company is forecast to post earnings per share of CN¥2.23 for next year compared to CN¥3.05 last year. Price Target Changed • Oct 24
Price target decreased by 8.3% to CN¥71.60 Down from CN¥78.10, the current price target is an average from 5 analysts. New target price is 64% above last closing price of CN¥43.65. Stock is down 35% over the past year. The company is forecast to post earnings per share of CN¥2.20 for next year compared to CN¥3.05 last year. Buying Opportunity • Oct 24
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 30%. The fair value is estimated to be CN¥55.69, 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, while earnings per share has been flat. Revenue is forecast to grow by 42% in 2 years. Earnings is forecast to grow by 91% in the next 2 years. Announcement • Sep 27
Guangzhou Shiyuan Electronic Technology Company Limited (SZSE:002841) announces an Equity Buyback for CNY 200 million worth of its shares. Guangzhou Shiyuan Electronic Technology Company Limited (SZSE:002841) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its shares. The program will be valid for 12 months. New Risk • Aug 28
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (24% accrual ratio). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Price Target Changed • Aug 26
Price target decreased by 7.7% to CN¥81.02 Down from CN¥87.82, the current price target is an average from 5 analysts. New target price is 56% above last closing price of CN¥51.86. Stock is down 23% over the past year. The company is forecast to post earnings per share of CN¥2.86 for next year compared to CN¥3.05 last year. Reported Earnings • Aug 25
Second quarter 2023 earnings released: EPS: CN¥0.45 (vs CN¥0.56 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.45 (down from CN¥0.56 in 2Q 2022). Revenue: CN¥4.58b (down 4.4% from 2Q 2022). Net income: CN¥318.3m (down 14% from 2Q 2022). Profit margin: 6.9% (down from 7.7% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 17% 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 5% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Price Target Changed • Jun 09
Price target increased by 7.0% to CN¥87.82 Up from CN¥82.07, the current price target is an average from 5 analysts. New target price is 37% above last closing price of CN¥64.00. Stock is down 15% over the past year. The company is forecast to post earnings per share of CN¥3.41 for next year compared to CN¥3.05 last year. Announcement • May 20
Guangzhou Shiyuan Electronic Technology Company Limited Approves Cash Dividend for the Year 2022 Guangzhou Shiyuan Electronic Technology Company Limited announced at annual general meeting held on May 18, 2023, the shareholders approved cash dividend of CNY 10.50000000 per ten shares (tax included) for the year 2022. Price Target Changed • May 04
Price target increased by 8.1% to CN¥88.70 Up from CN¥82.07, the current price target is an average from 4 analysts. New target price is 38% above last closing price of CN¥64.05. Stock is down 16% over the past year. The company is forecast to post earnings per share of CN¥3.51 for next year compared to CN¥3.05 last year. Reported Earnings • Apr 26
First quarter 2023 earnings released: EPS: CN¥0.41 (vs CN¥0.46 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.41 (down from CN¥0.46 in 1Q 2022). Revenue: CN¥3.76b (down 10% from 1Q 2022). Net income: CN¥284.0m (down 7.8% from 1Q 2022). Profit margin: 7.6% (up from 7.4% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 20% 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 7% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 06
Price target decreased by 9.6% to CN¥82.07 Down from CN¥90.74, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of CN¥80.17. Stock is up 18% over the past year. The company is forecast to post earnings per share of CN¥3.60 for next year compared to CN¥3.04 last year. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥77.45, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 25x in the Electronic industry in China. Total returns to shareholders of 2.9% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥43.55 per share. Reported Earnings • Jan 20
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥3.04 (up from CN¥2.61 in FY 2021). Revenue: CN¥21.0b (down 1.2% from FY 2021). Net income: CN¥2.07b (up 22% from FY 2021). Profit margin: 9.9% (up from 8.0% in FY 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 9.1%. Earnings per share (EPS) also missed analyst estimates by 1.2%. Revenue is forecast to grow 20% 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 7% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Vice Chairman & GM Yang Wang 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. Major Estimate Revision • Nov 02
Consensus revenue estimates fall by 11% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥24.6b to CN¥21.8b. EPS estimate fell from CN¥3.31 to CN¥3.04 per share. Net income forecast to grow 24% next year vs 56% growth forecast for Electronic industry in China. Consensus price target down from CN¥90.74 to CN¥87.94. Share price fell 3.8% to CN¥65.15 over the past week. Buying Opportunity • Oct 28
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 2.9%. The fair value is estimated to be CN¥85.11, however this is not to be taken as a buy 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 6.8%. Revenue is forecast to grow by 45% in 2 years. Earnings is forecast to grow by 51% in the next 2 years. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: CN¥1.31 (vs CN¥1.21 in 3Q 2021) Third quarter 2022 results: EPS: CN¥1.31 (up from CN¥1.21 in 3Q 2021). Revenue: CN¥7.07b (down 3.4% from 3Q 2021). Net income: CN¥915.8m (up 16% from 3Q 2021). Profit margin: 13% (up from 11% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 16% 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 7% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 26
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: EPS: CN¥0.56 (up from CN¥0.35 in 2Q 2021). Revenue: CN¥4.79b (up 9.1% from 2Q 2021). Net income: CN¥368.7m (up 61% from 2Q 2021). Profit margin: 7.7% (up from 5.2% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 6.7%. Earnings per share (EPS) also missed analyst estimates by 8.3%. Over the next year, revenue is forecast to grow 17%, 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 9% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Buying Opportunity • Aug 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.7%. The fair value is estimated to be CN¥86.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 26% in 2 years. Earnings is forecast to grow by 44% in the next 2 years. Buying Opportunity • Jul 30
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be CN¥87.46, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 26% in 2 years. Earnings is forecast to grow by 44% in the next 2 years. Buying Opportunity • Jul 11
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be CN¥88.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 29% in 2 years. Earnings is forecast to grow by 46% in the next 2 years. Board Change • Jun 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Vice Chairman & GM Yang Wang 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. Buying Opportunity • May 25
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 22%. The fair value is estimated to be CN¥84.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 29% in 2 years. Earnings is forecast to grow by 46% in the next 2 years. Announcement • May 19
Guangzhou Shiyuan Electronic Technology Company Limited Announces Implementation of Final Cash Dividend for 2021, Payable on 24 May 2022 Guangzhou Shiyuan Electronic Technology Company Limited announced implementation of final cash dividend of CNY 9.00000000 per 10 A shares for 2021. Record date is 23 May 2022. Ex-date is 24 May 2022. Payment date is 24 May 2022. 10% withholding tax on cash dividend will be deducted in CNY within the cash dividend receivable. Net cash dividend/10 shares after tax: CNY 8.10000000(CNY 9.00000000- CNY 0.90000000). Announcement • May 15
Guangzhou Shiyuan Electronic Technology Company Limited Approves Cash Dividend for the Year of 2021 Guangzhou Shiyuan Electronic Technology Company Limited held its Annual General Meeting of 2021 on 12 May 2022, during which it approved cash dividend of CNY 9.00000000 per ten shares (tax included) for the year 2021. Reported Earnings • Apr 28
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: CN¥0.46 (up from CN¥0.31 in 1Q 2021). Revenue: CN¥4.19b (up 17% from 1Q 2021). Net income: CN¥308.1m (up 53% from 1Q 2021). Profit margin: 7.4% (up from 5.6% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) missed analyst estimates by 3.9%. Over the next year, revenue is forecast to grow 15%, compared to a 24% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Apr 22
Guangzhou Shiyuan Electronic Technology Company Limited, Annual General Meeting, May 12, 2022 Guangzhou Shiyuan Electronic Technology Company Limited, Annual General Meeting, May 12, 2022, at 14:00 China Standard Time. Agenda: To consider 2021 work report of the board of directors; to consider 2021 work report of the supervisory committee; to consider 2021 annual accounts; to consider 2021 profit distribution plan; to consider 2021 annual report and its summary; to consider reappointment of 2022 audit firm; to consider application for comprehensive credit line to banks; to consider by-election of shareholder supervisors; to consider amendments to the articles of associations of the Company; to consider amendments to the rules of procedure governing the general meeting of shareholders; and to transact other matters. Announcement • Apr 21
Guangzhou Shiyuan Electronic Technology Company Limited Announces the Profit Distribution Proposal for 2021 Guangzhou Shiyuan Electronic Technology Company Limited announced the profit distribution proposal for 2021. The company announced Cash dividend/10 shares (tax included) of CNY 9.00000000. Reported Earnings • Apr 21
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥2.61 (down from CN¥2.91 in FY 2020). Revenue: CN¥21.2b (up 24% from FY 2020). Net income: CN¥1.70b (down 11% from FY 2020). Profit margin: 8.0% (down from 11% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) missed analyst estimates by 3.9%. Over the next year, revenue is forecast to grow 13%, compared to a 24% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Buying Opportunity • Mar 29
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 19%. The fair value is estimated to be CN¥81.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.1% per annum over the last 3 years. Earnings per share has grown by 16% per annum over the last 3 years. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥88.52, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 27x 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¥81.69 per share. Reported Earnings • Jan 28
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥2.58 (down from CN¥2.91 in FY 2020). Revenue: CN¥21.2b (up 24% from FY 2020). Net income: CN¥1.69b (down 11% from FY 2020). Profit margin: 7.9% (down from 11% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) missed analyst estimates by 5.0%. Over the next year, revenue is forecast to grow 15%, compared to a 28% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jan 28
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥2.58 (down from CN¥2.91 in FY 2020). Revenue: CN¥21.2b (up 24% from FY 2020). Net income: CN¥1.69b (down 11% from FY 2020). Profit margin: 7.9% (down from 11% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) missed analyst estimates by 5.0%. Over the next year, revenue is forecast to grow 15%, compared to a 28% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥1.21 (vs CN¥1.31 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥7.32b (up 18% from 3Q 2020). Net income: CN¥791.8m (down 8.3% from 3Q 2020). Profit margin: 11% (down from 14% in 3Q 2020). The decrease in margin was driven by higher expenses. 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. Valuation Update With 7 Day Price Move • Sep 03
Investor sentiment deteriorated over the past week After last week's 24% share price decline to CN¥81.85, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 28x in the Electronic industry in China. Total returns to shareholders of 35% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥66.95 per share. Price Target Changed • Sep 01
Price target decreased to CN¥137 Down from CN¥154, the current price target is an average from 7 analysts. New target price is 60% above last closing price of CN¥85.48. Stock is down 14% over the past year. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS CN¥0.35 (vs CN¥0.58 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥4.39b (up 21% from 2Q 2020). Net income: CN¥228.8m (down 40% from 2Q 2020). Profit margin: 5.2% (down from 11% in 2Q 2020). The decrease in margin was driven by higher expenses. 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 21% per year, which means it is significantly lagging earnings growth. Announcement • May 29
Guangzhou Shiyuan Electronic Technology Company Limited Announces 2020 Final Profit Distribution Plan to Be Implemented (A Shares), Payable on June 3, 2021 Guangzhou Shiyuan Electronic Technology Company Limited announced 2020 final profit distribution plan to be implemented (A shares), payable on June 3, 2021. The company announced Cash dividend/10 shares (tax included) of CNY 10.00000000. Record date is June 2, 2021. Ex-date is June 3, 2021. 10% withholding tax on cash dividend will be deducted in CNY within the cash dividend receivable.