Announcement • Jul 09
Leyard Optoelectronic Co., Ltd. (SZSE:300296) announces an Equity Buyback for CNY 200 million worth of its shares. Leyard Optoelectronic Co., Ltd. (SZSE:300296) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its ordinary A shares. The shares will be repurchased at a price not more than CNY 9.82 per share. The program will be sourced from own funds or self-financing. All the shares repurchased under the program will be used to implement employee stock ownership plans, equity incentives or to convert corporate bonds issued by the company that can be converted into stocks or for maintaining the company’s value and shareholders’ interests. The shares repurchased will be cancelled. The repurchase program is valid for a period of 12 months from the date of approval. Announcement • Jun 30
Leyard Optoelectronic Co., Ltd. to Report First Half, 2026 Results on Aug 19, 2026 Leyard Optoelectronic Co., Ltd. announced that they will report first half, 2026 results on Aug 19, 2026 Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥5.55, the stock trades at a trailing P/E ratio of 60.7x. Average forward P/E is 45x in the Electronic industry in China. Total loss to shareholders of 11% over the past three years. Declared Dividend • May 14
Dividend of CN¥0.10 announced Dividend of CN¥0.10 is the same as last year. Ex-date: 19th May 2026 Payment date: 19th May 2026 Dividend yield will be 1.5%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is not covered by earnings (113% earnings payout ratio). However, it is well covered by cash flows (43% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 25% to bring the payout ratio under control. However, EPS has declined by 7.5% over the last 5 years so the company would need to reverse this trend. Valuation Update With 7 Day Price Move • Apr 30
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥6.36, the stock trades at a trailing P/E ratio of 69.6x. Average forward P/E is 33x in the Electronic industry in China. Total returns to shareholders of 3.7% over the past three years. New Risk • Apr 24
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 8.6% 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 earnings (113% payout ratio). Share price has been volatile over the past 3 months (8.6% average weekly change). Reported Earnings • Apr 17
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.11 (up from CN¥0.35 loss in FY 2024). Revenue: CN¥7.06b (down 1.2% from FY 2024). Net income: CN¥307.2m (up CN¥1.20b from FY 2024). Profit margin: 4.3% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Revenue missed analyst estimates by 8.3%. Earnings per share (EPS) also missed analyst estimates by 35%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. New Risk • Apr 16
New major risk - Revenue and earnings growth Earnings have declined by 6.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 6.6% per year over the past 5 years. Minor Risk Paying a dividend despite being loss-making. Announcement • Apr 16
Leyard Optoelectronic Co., Ltd., Annual General Meeting, May 08, 2026 Leyard Optoelectronic Co., Ltd., Annual General Meeting, May 08, 2026, at 14:30 China Standard Time. Location: No. 9, Beizhenghongqi West Street, the Summer Palace, Haidian District, Beijing China Announcement • Mar 31
Leyard Optoelectronic Co., Ltd. to Report Q1, 2026 Results on Apr 24, 2026 Leyard Optoelectronic Co., Ltd. announced that they will report Q1, 2026 results on Apr 24, 2026 Announcement • Feb 04
Leyard Approves Directorate Appointments Leyard at its EGM held on 02 February 2026 approved the appointment of Sun Zheng as non-independent director and Wang Jinyong as independent director. Announcement • Dec 31
Leyard Optoelectronic Co., Ltd. to Report Fiscal Year 2025 Results on Apr 16, 2026 Leyard Optoelectronic Co., Ltd. announced that they will report fiscal year 2025 results on Apr 16, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.04 (vs CN¥0.021 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.04 (up from CN¥0.021 in 3Q 2024). Revenue: CN¥1.79b (down 2.3% from 3Q 2024). Net income: CN¥107.0m (up 101% from 3Q 2024). Profit margin: 6.0% (up from 2.9% in 3Q 2024). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 21% growth forecast for the Electronic industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 117 percentage points per year, which is a significant difference in performance. New Risk • Oct 30
New major risk - Revenue and earnings growth Earnings have declined by 3.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 3.0% per year over the past 5 years. Minor Risk Paying a dividend despite being loss-making. Announcement • Sep 30
Leyard Optoelectronic Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Leyard Optoelectronic Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Reported Earnings • Aug 28
Second quarter 2025 earnings released: EPS: CN¥0.035 (vs CN¥0.011 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.035 (up from CN¥0.011 in 2Q 2024). Revenue: CN¥1.85b (flat on 2Q 2024). Net income: CN¥95.2m (up 254% from 2Q 2024). Profit margin: 5.2% (up from 1.5% in 2Q 2024). Revenue is forecast to grow 9.5% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Electronic industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 115 percentage points per year, which is a significant difference in performance. Announcement • Jul 02
Leyard Optoelectronic Co., Ltd. to Report First Half, 2025 Results on Aug 28, 2025 Leyard Optoelectronic Co., Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Announcement • May 22
Leyard Optoelectronic Co., Ltd. Announces Final Profit Distribution Plan to Be Implemented (A Shares) for the Year 2024, Payable on 26 May 2025 Leyard Optoelectronic Co., Ltd. announced Final Profit Distribution Plan to Be Implemented (A Shares): Cash dividend/10 shares (tax included): CNY 1.00000000 for the Year 2024.Record date: 23 May 2025. Ex-date: 26 May 2025. Payment date: 26 May 2025. Declared Dividend • May 21
Dividend increased to CN¥0.10 Dividend of CN¥0.10 is 100% higher than last year. Ex-date: 26th May 2025 Payment date: 26th May 2025 Dividend yield will be 1.6%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (68% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. Price Target Changed • Apr 25
Price target increased by 10% to CN¥5.50 Up from CN¥5.00, the current price target is an average from 2 analysts. New target price is 8.9% below last closing price of CN¥6.04. Stock is up 24% over the past year. The company is forecast to post earnings per share of CN¥0.17 next year compared to a net loss per share of CN¥0.35 last year. Announcement • Apr 25
Leyard Optoelectronic Co., Ltd. Proposes Final Cash Dividend for 2024 Leyard Optoelectronic Co., Ltd. proposed final cash dividend of CNY 1.00000000 per 10 shares (tax included) for 2024. Reported Earnings • Apr 24
First quarter 2025 earnings released: EPS: CN¥0.028 (vs CN¥0.04 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.028 (down from CN¥0.04 in 1Q 2024). Revenue: CN¥1.66b (down 7.6% from 1Q 2024). Net income: CN¥76.6m (down 24% from 1Q 2024). Profit margin: 4.6% (down from 5.6% in 1Q 2024). Revenue is forecast to grow 24% 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, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Announcement • Apr 24
Leyard Optoelectronic Co., Ltd., Annual General Meeting, May 15, 2025 Leyard Optoelectronic Co., Ltd., Annual General Meeting, May 15, 2025, at 14:30 China Standard Time. Location: No. 9, Beizhenghongqi West Street, the Summer Palace, Haidian District, Beijing China Announcement • Mar 31
Leyard Optoelectronic Co., Ltd. to Report Q1, 2025 Results on Apr 24, 2025 Leyard Optoelectronic Co., Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025 New Risk • Jan 22
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 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Dividend is not well covered by earnings (dividend per share is over 20x earnings per share). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.09% net profit margin). Announcement • Dec 31
Leyard Optoelectronic Co., Ltd. to Report Fiscal Year 2024 Results on Apr 24, 2025 Leyard Optoelectronic Co., Ltd. announced that they will report fiscal year 2024 results on Apr 24, 2025 New Risk • Dec 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 11% 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 earnings (dividend per share is over 20x earnings per share). Share price has been volatile over the past 3 months (11% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.09% net profit margin). Major Estimate Revision • Oct 30
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥8.29b to CN¥7.16b. EPS estimate fell from CN¥0.24 to CN¥0.13 per share. Net income forecast to grow 9,801% next year vs 54% growth forecast for Electronic industry in China. Consensus price target of CN¥5.00 unchanged from last update. Share price was steady at CN¥5.26 over the past week. Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: CN¥0.021 (vs CN¥0.048 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.021 (down from CN¥0.048 in 3Q 2023). Revenue: CN¥1.83b (down 8.6% from 3Q 2023). Net income: CN¥53.2m (down 57% from 3Q 2023). Profit margin: 2.9% (down from 6.1% in 3Q 2023). 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 fallen by 4% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. New Risk • Sep 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 7.8% 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 earnings (167% payout ratio). Share price has been volatile over the past 3 months (7.8% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.0% net profit margin). Announcement • Sep 30
Leyard Optoelectronic Co., Ltd. to Report Q3, 2024 Results on Oct 24, 2024 Leyard Optoelectronic Co., Ltd. announced that they will report Q3, 2024 results on Oct 24, 2024 Major Estimate Revision • Sep 04
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥9.12b to CN¥8.29b. EPS estimate also fell from CN¥0.305 per share to CN¥0.24 per share. Net income forecast to grow 797% next year vs 52% growth forecast for Electronic industry in China. Consensus price target down from CN¥5.35 to CN¥5.00. Share price was steady at CN¥4.13 over the past week. New Risk • Aug 31
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 39% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (167% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.0% net profit margin). Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: CN¥0.011 (vs CN¥0.086 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.011 (down from CN¥0.086 in 2Q 2023). Revenue: CN¥1.83b (down 18% from 2Q 2023). Net income: CN¥26.9m (down 88% from 2Q 2023). Profit margin: 1.5% (down from 9.7% in 2Q 2023). 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 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Announcement • Jun 29
Leyard Optoelectronic Co., Ltd. to Report First Half, 2024 Results on Aug 28, 2024 Leyard Optoelectronic Co., Ltd. announced that they will report first half, 2024 results on Aug 28, 2024 Board Change • May 29
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. 1 highly experienced director. Chairman & GM Jun Li is the most experienced director on the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Declared Dividend • May 11
Dividend increased to CN¥0.05 Dividend of CN¥0.05 is 25% higher than last year. Ex-date: 15th May 2024 Payment date: 15th May 2024 Dividend yield will be 1.0%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is well covered by both earnings (48% earnings payout ratio) and cash flows (14% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 218% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 11
Leyard Optoelectronic Co., Ltd. Announces Cash Dividend of A Shares for the Year 2023, Payable on May 15, 2024 Leyard Optoelectronic Co., Ltd. announced cash dividend/10 shares (tax included) of CNY 0.50000000 of A shares for the year 2023. Record date is May 14, 2024. Ex-date is May 15, 2024. Payment date is May 15, 2024. Major Estimate Revision • May 02
Consensus EPS estimates fall by 26% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from CN¥0.34 to CN¥0.25 per share. Revenue forecast steady at CN¥8.78b. Net income forecast to grow 164% next year vs 61% growth forecast for Electronic industry in China. Consensus price target down from CN¥6.55 to CN¥5.88. Share price rose 6.6% to CN¥5.01 over the past week. Price Target Changed • Apr 28
Price target decreased by 14% to CN¥5.88 Down from CN¥6.82, the current price target is an average from 3 analysts. New target price is 20% above last closing price of CN¥4.89. Stock is down 23% over the past year. The company is forecast to post earnings per share of CN¥0.25 for next year compared to CN¥0.11 last year. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.04 (vs CN¥0.048 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.04 (down from CN¥0.048 in 1Q 2023). Revenue: CN¥1.80b (up 1.0% from 1Q 2023). Net income: CN¥101.2m (down 17% from 1Q 2023). Profit margin: 5.6% (down from 6.8% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% 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 increased by 66% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Major Estimate Revision • Apr 18
Consensus revenue estimates fall by 13% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥10.1b to CN¥8.83b. EPS estimate fell from CN¥0.357 to CN¥0.34 per share. Net income forecast to grow 204% next year vs 53% growth forecast for Electronic industry in China. Consensus price target down from CN¥6.82 to CN¥6.55. Share price fell 4.1% to CN¥4.69 over the past week. Reported Earnings • Apr 12
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.11 (up from CN¥0.11 in FY 2022). Revenue: CN¥7.61b (down 6.6% from FY 2022). Net income: CN¥285.7m (up 1.5% from FY 2022). Profit margin: 3.8% (up from 3.5% in FY 2022). Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 57%. Revenue is forecast to grow 14% 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 81% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Mar 30
Leyard Optoelectronic Co., Ltd. to Report Q1, 2024 Results on Apr 26, 2024 Leyard Optoelectronic Co., Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Announcement • Mar 13
Leyard Optoelectronic Co., Ltd. (SZSE:300296) announces an Equity Buyback for CNY 60 million worth of its shares. Leyard Optoelectronic Co., Ltd. (SZSE:300296) announces a share repurchase program. Under the program, the company will repurchase up to CNY 60 million worth of its ordinary A shares. The shares will be repurchased at a price not more than CNY 7.4 per share. All the shares repurchased under the program will be used to implement employee stock ownership plans, equity incentives or to convert corporate bonds issued by the company that can be converted into stocks. The repurchase program is valid for a period of 12 months from the date of approval. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥4.04, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 17x in the Electronic industry in China. Total loss to shareholders of 32% over the past three years. Announcement • Dec 30
Leyard Optoelectronic Co., Ltd. to Report Fiscal Year 2023 Results on Apr 12, 2024 Leyard Optoelectronic Co., Ltd. announced that they will report fiscal year 2023 results on Apr 12, 2024 Major Estimate Revision • Nov 02
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¥10.0b to CN¥9.30b. EPS estimate also fell from CN¥0.343 per share to CN¥0.30 per share. Net income forecast to grow 208% next year vs 73% growth forecast for Electronic industry in China. Consensus price target of CN¥7.17 unchanged from last update. Share price fell 6.1% to CN¥6.01 over the past week. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.048 (vs CN¥0.065 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.048 (down from CN¥0.065 in 3Q 2022). Revenue: CN¥2.01b (down 3.2% from 3Q 2022). Net income: CN¥122.6m (down 25% from 3Q 2022). Profit margin: 6.1% (down from 7.9% in 3Q 2022). Revenue is forecast to grow 18% 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 70% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Leyard Optoelectronic Co., Ltd. to Report Q3, 2023 Results on Oct 27, 2023 Leyard Optoelectronic Co., Ltd. announced that they will report Q3, 2023 results on Oct 27, 2023 Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: CN¥0.086 (vs CN¥0.06 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.086 (up from CN¥0.06 in 2Q 2022). Revenue: CN¥2.24b (up 15% from 2Q 2022). Net income: CN¥216.3m (up 42% from 2Q 2022). Profit margin: 9.7% (up from 7.9% in 2Q 2022). 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 53% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Price Target Changed • May 20
Price target increased by 7.8% to CN¥7.17 Up from CN¥6.65, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of CN¥6.84. Stock is up 8.6% over the past year. The company is forecast to post earnings per share of CN¥0.34 for next year compared to CN¥0.11 last year. Upcoming Dividend • May 02
Upcoming dividend of CN¥0.04 per share at 0.6% yield Eligible shareholders must have bought the stock before 09 May 2023. Payment date: 09 May 2023. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Chinese dividend payers (2.0%). Lower than average of industry peers (1.3%). Major Estimate Revision • Apr 10
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥11.0b to CN¥10.0b. EPS estimate also fell from CN¥0.42 per share to CN¥0.33 per share. Net income forecast to grow 199% next year vs 45% growth forecast for Electronic industry in China. Consensus price target of CN¥6.65 unchanged from last update. Share price was steady at CN¥6.96 over the past week. Reported Earnings • Apr 06
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥0.11 (down from CN¥0.24 in FY 2021). Revenue: CN¥8.15b (down 7.9% from FY 2021). Net income: CN¥281.4m (down 54% from FY 2021). Profit margin: 3.5% (down from 6.9% in FY 2021). Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 63%. Revenue is forecast to grow 22% 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 13% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Jan 19
Leyard Optoelectronic Co., Ltd. Announces Board Appointments Leyard Optoelectronic Co., Ltd. held its 1st Extraordinary General Meeting of 2023 on 16 January 2023, approved election of non-independent directors, cumulative voting system applicable: Yuan Bo. Election of independent directors, cumulative voting system applicable: Xiao Jianhua and Li Zhe. Price Target Changed • Nov 19
Price target decreased to CN¥6.65 Down from CN¥7.48, the current price target is an average from 2 analysts. New target price is 9.2% above last closing price of CN¥6.09. Stock is down 41% over the past year. The company is forecast to post earnings per share of CN¥0.32 for next year compared to CN¥0.24 last year. Board Change • Nov 16
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 Jin Yong Wang was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Oct 28
Consensus revenue estimates fall by 11% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥9.91b to CN¥8.79b. EPS estimate fell from CN¥0.39 to CN¥0.32 per share. Net income forecast to grow 113% next year vs 45% growth forecast for Electronic industry in China. Consensus price target down from CN¥7.48 to CN¥7.18. Share price fell 3.7% to CN¥5.51 over the past week. Price Target Changed • Oct 24
Price target decreased to CN¥7.18 Down from CN¥7.75, the current price target is an average from 3 analysts. New target price is 27% above last closing price of CN¥5.65. Stock is down 40% over the past year. The company is forecast to post earnings per share of CN¥0.32 for next year compared to CN¥0.24 last year. Reported Earnings • Oct 23
Third quarter 2022 earnings released: EPS: CN¥0.065 (vs CN¥0.093 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.065 (down from CN¥0.093 in 3Q 2021). Revenue: CN¥2.07b (down 7.3% from 3Q 2021). Net income: CN¥164.5m (down 30% from 3Q 2021). Profit margin: 7.9% (down from 11% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 22% 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 14% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Aug 26
Consensus revenue estimates fall by 12% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥10.9b to CN¥9.55b. EPS estimate fell from CN¥0.42 to CN¥0.37 per share. Net income forecast to grow 86% next year vs 44% growth forecast for Electronic industry in China. Consensus price target down from CN¥7.75 to CN¥7.48. Share price fell 7.4% to CN¥6.52 over the past week. Reported Earnings • Aug 21
Second quarter 2022 earnings released: EPS: CN¥0.06 (vs CN¥0.071 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.06 (down from CN¥0.071 in 2Q 2021). Revenue: CN¥1.94b (down 8.1% from 2Q 2021). Net income: CN¥152.5m (down 16% from 2Q 2021). Profit margin: 7.9% (down from 8.6% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 34%, compared to a 26% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • May 12
Leyard Optoelectronic Approves Final Cash Dividend for 2021, Payable on May 17, 2022 Leyard Optoelectronic Co., Ltd. approved final cash dividend of CNY 0.50000000 per 10 shares (tax included) for 2021 at the AGM held on May 6, 2022. Record date is 16 May 2022. Ex-date is 17 May 2022. Payment date is 17 May 2022. Price Target Changed • Apr 27
Price target decreased to CN¥9.08 Down from CN¥10.23, the current price target is an average from 4 analysts. New target price is 55% above last closing price of CN¥5.85. Stock is down 18% over the past year. The company is forecast to post earnings per share of CN¥0.41 for next year compared to CN¥0.24 last year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. 5 independent directors (7 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Apr 21
Price target decreased to CN¥9.08 Down from CN¥10.23, the current price target is an average from 4 analysts. New target price is 44% above last closing price of CN¥6.31. Stock is down 19% over the past year. The company is forecast to post earnings per share of CN¥0.41 for next year compared to CN¥0.24 last year. Reported Earnings • Apr 16
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥0.24 (up from CN¥0.38 loss in FY 2020). Revenue: CN¥8.85b (up 33% from FY 2020). Net income: CN¥610.9m (up CN¥1.59b from FY 2020). Profit margin: 6.9% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) missed analyst estimates by 18%. Over the next year, revenue is forecast to grow 20%, compared to a 23% growth forecast for the industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 16
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥0.24 (up from CN¥0.38 loss in FY 2020). Revenue: CN¥8.85b (up 33% from FY 2020). Net income: CN¥610.9m (up CN¥1.59b from FY 2020). Profit margin: 6.9% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) missed analyst estimates by 18%. Over the next year, revenue is forecast to grow 20%, compared to a 23% growth forecast for the industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Reported Earnings • Oct 27
Third quarter 2021 earnings released: EPS CN¥0.093 (vs CN¥0.036 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥2.23b (up 41% from 3Q 2020). Net income: CN¥236.2m (up 160% from 3Q 2020). Profit margin: 11% (up from 5.7% in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 109 percentage points per year, which is a significant difference in performance. Price Target Changed • Aug 23
Price target increased to CN¥11.25 Up from CN¥8.85, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of CN¥11.03. Stock is up 68% over the past year. Reported Earnings • Aug 20
Second quarter 2021 earnings released: EPS CN¥0.071 (vs CN¥0.083 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¥2.11b (up 25% from 2Q 2020). Net income: CN¥180.8m (down 14% from 2Q 2020). Profit margin: 8.6% (down from 13% in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Announcement • May 19
Leyard Implements Final Profit Distribution on A Shares for the Year 2020, payable on 24 May 2021 Leyard announced the final profit distribution plan to be implemented on (A shares) of CNY 0.200 per 10 shares (tax included) for the year 2020. The record date is on 21 May 2021. The ex-date is on 24 May 2021. The payment date is on 24 May 2021. Reported Earnings • Apr 25
First quarter 2021 earnings released: EPS CN¥0.041 (vs CN¥0.006 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥1.49b (up 23% from 1Q 2020). Net income: CN¥103.8m (up CN¥89.0m from 1Q 2020). Profit margin: 7.0% (up from 1.2% in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Announcement • Feb 25
Leyard Optoelectronic Co., Ltd. to Report Fiscal Year 2020 Results on Mar 31, 2021 Leyard Optoelectronic Co., Ltd. announced that they will report fiscal year 2020 results on Mar 31, 2021 Price Target Changed • Feb 02
Price target lowered to CN¥8.35 Down from CN¥9.35, the current price target is an average from 2 analysts. The new target price is 40% above the current share price of CN¥5.97. As of last close, the stock is down 9.5% over the past year. Major Estimate Revision • Feb 02
Analysts lower EPS estimates to -CN¥0.09 The 2020 consensus revenue estimate was lowered from CN¥6.74b to CN¥6.59b. The company is forecast to report a loss instead of a profit with analysts lowering their EPS forecasts from CN¥0.21 to -CN¥0.09 for the same period. The Electronic industry in China is expected to see an average net income growth of 46% next year. The consensus price target was lowered from CN¥9.35 to CN¥8.35. Share price is down by 1.8% to CN¥5.97 over the past week. Is New 90 Day High Low • Jan 06
New 90-day low: CN¥6.10 The company is down 21% from its price of CN¥7.69 on 30 September 2020. The Chinese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥5.70 per share. Is New 90 Day High Low • Dec 11
New 90-day low: CN¥6.90 The company is down 20% from its price of CN¥8.65 on 11 September 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥5.76 per share. Major Estimate Revision • Nov 05
Analysts lower revenue estimates to CN¥6.74b The 2020 consensus revenue estimate decreased from CN¥8.22b. Earning per share (EPS) estimate was also lowered from CN¥0.35 to CN¥0.21 for the same period. Net income is expected to grow by 398% next year compared to 47% growth forecast for the Electronic industry in China. The consensus price target was lowered from CN¥9.85 to CN¥9.35. Share price is down by 1.5% to CN¥7.31 over the past week. Analyst Estimate Surprise Post Earnings • Oct 29
Annual earnings released: Earnings miss expectations Earnings per share (EPS) missed analyst estimates by 81% at CN¥0.03. Revenue is forecast to grow 40% over the next year, compared to a 30% growth forecast for the Electronic industry in China. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥218.1m, down 81% from the prior year. Total revenue was CN¥7.22b over the last 12 months, down 16% from the prior year. 
