Valuation Update With 7 Day Price Move • May 12
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥1,018, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 65x in the Communications industry in China. Total returns to shareholders of 1,775% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥802 per share. Major Estimate Revision • Apr 23
Consensus revenue estimates increase by 31% The consensus outlook for revenues in fiscal year 2026 has improved. 2026 revenue forecast increased from CN¥73.0b to CN¥95.7b. EPS estimate increased from CN¥21.57 to CN¥27.27 per share. Net income forecast to grow 125% next year vs 82% growth forecast for Communications industry in China. Consensus price target up from CN¥677 to CN¥873. Share price rose 11% to CN¥897 over the past week. New Risk • Apr 17
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 32% 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 (32% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (9.1% average weekly change). Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥693, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 62x in the Communications industry in China. Total returns to shareholders of 1,413% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥433 per share. Major Estimate Revision • Apr 07
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CN¥82.5b to CN¥73.0b. EPS estimate fell from CN¥22.94 to CN¥21.57 per share. Net income forecast to grow 122% next year vs 72% growth forecast for Communications industry in China. Consensus price target broadly unchanged at CN¥677. Share price rose 8.8% to CN¥620 over the past week. Reported Earnings • Apr 02
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: CN¥9.80 (up from CN¥4.72 in FY 2024). Revenue: CN¥38.2b (up 60% from FY 2024). Net income: CN¥10.8b (up 109% from FY 2024). Profit margin: 28% (up from 22% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 2.4%. Revenue is forecast to grow 35% p.a. on average during the next 3 years, compared to a 29% growth forecast for the Communications industry in China. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has increased by 130% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: CN¥9.80 (vs CN¥4.72 in FY 2024) Full year 2025 results: EPS: CN¥9.80 (up from CN¥4.72 in FY 2024). Revenue: CN¥38.2b (up 60% from FY 2024). Net income: CN¥10.8b (up 109% from FY 2024). Profit margin: 28% (up from 22% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 33% p.a. on average during the next 3 years, compared to a 30% growth forecast for the Communications industry in China. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has increased by 176% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥540, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 46x in the Communications industry in China. Total returns to shareholders of 2,084% over the past three years. Announcement • Dec 31
Zhongji Innolight Co., Ltd. to Report Fiscal Year 2025 Results on Mar 31, 2026 Zhongji Innolight Co., Ltd. announced that they will report fiscal year 2025 results on Mar 31, 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¥538, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 43x in the Communications industry in China. Total returns to shareholders of 2,551% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥994 per share. Price Target Changed • Nov 28
Price target increased by 8.2% to CN¥606 Up from CN¥560, the current price target is an average from 17 analysts. New target price is 18% above last closing price of CN¥515. Stock is up 306% over the past year. The company is forecast to post earnings per share of CN¥9.64 for next year compared to CN¥4.72 last year. Reported Earnings • Oct 31
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: CN¥2.83 (up from CN¥1.25 in 3Q 2024). Revenue: CN¥10.2b (up 57% from 3Q 2024). Net income: CN¥3.14b (up 125% from 3Q 2024). Profit margin: 31% (up from 21% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.0%. Earnings per share (EPS) also missed analyst estimates by 2.5%. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Communications industry in China. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has increased by 180% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Oct 31
Price target increased by 7.6% to CN¥436 Up from CN¥406, the current price target is an average from 15 analysts. New target price is 7.7% below last closing price of CN¥473. Stock is up 236% over the past year. The company is forecast to post earnings per share of CN¥9.89 for next year compared to CN¥4.72 last year. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to CN¥442, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 45x in the Communications industry in China. Total returns to shareholders of 2,150% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥349 per share. Buy Or Sell Opportunity • Oct 21
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 137% to CN¥442. The fair value is estimated to be CN¥349, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 45% over the last 3 years. Earnings per share has grown by 66%. For the next 3 years, revenue is forecast to grow by 29% per annum. Earnings are also forecast to grow by 31% per annum over the same time period. Upcoming Dividend • Oct 06
Upcoming dividend of CN¥0.40 per share Eligible shareholders must have bought the stock before 13 October 2025. Payment date: 13 October 2025. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 0.1%. Lower than top quartile of Chinese dividend payers (1.9%). Lower than average of industry peers (0.7%). Announcement • Sep 30
Zhongji Innolight Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Zhongji Innolight Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Buy Or Sell Opportunity • Sep 29
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 187% to CN¥417. The fair value is estimated to be CN¥346, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 45% over the last 3 years. Earnings per share has grown by 66%. For the next 3 years, revenue is forecast to grow by 29% per annum. Earnings are also forecast to grow by 31% per annum over the same time period. Buy Or Sell Opportunity • Sep 11
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 277% to CN¥440. The fair value is estimated to be CN¥360, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 45% over the last 3 years. Earnings per share has grown by 66%. For the next 3 years, revenue is forecast to grow by 28% per annum. Earnings are also forecast to grow by 30% per annum over the same time period. Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥384, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 51x in the Communications industry in China. Total returns to shareholders of 1,734% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥383 per share. Reported Earnings • Aug 28
Second quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2025 results: EPS: CN¥2.20 (up from CN¥1.23 in 2Q 2024). Revenue: CN¥8.11b (up 36% from 2Q 2024). Net income: CN¥2.41b (up 79% from 2Q 2024). Profit margin: 30% (up from 23% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) exceeded analyst estimates by 25%. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Communications 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 increased by 160% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 28
Zhongji Innolight Co., Ltd. Proposes Interim Profit Distribution Plan for 2025 Zhongji Innolight Co., Ltd. at 3rd EGM to be held on September 17, 2025 proposed interim profit distribution plan for 2025. For the period, the company reported Cash dividend/10 shares (tax included): CNY4.00000000. Major Estimate Revision • Aug 27
Consensus EPS estimates increase by 16%, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from CN¥36.9b to CN¥36.0b. EPS estimate rose from CN¥7.78 to CN¥9.05. Net income forecast to grow 89% next year vs 50% growth forecast for Communications industry in China. Consensus price target up from CN¥218 to CN¥274. Share price rose 21% to CN¥325 over the past week. Price Target Changed • Aug 27
Price target increased by 11% to CN¥215 Up from CN¥194, the current price target is an average from 14 analysts. New target price is 34% below last closing price of CN¥325. Stock is up 189% over the past year. The company is forecast to post earnings per share of CN¥9.05 for next year compared to CN¥4.72 last year. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥260, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 48x in the Communications industry in China. Total returns to shareholders of 1,010% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥377 per share. Price Target Changed • Aug 05
Price target increased by 8.3% to CN¥179 Up from CN¥165, the current price target is an average from 14 analysts. New target price is 15% below last closing price of CN¥211. Stock is up 84% over the past year. The company is forecast to post earnings per share of CN¥7.69 for next year compared to CN¥4.72 last year. Valuation Update With 7 Day Price Move • Jul 31
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥218, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 49x in the Communications industry in China. Total returns to shareholders of 848% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥377 per share. Price Target Changed • Jul 16
Price target increased by 8.2% to CN¥143 Up from CN¥132, the current price target is an average from 15 analysts. New target price is 16% below last closing price of CN¥171. Stock is up 20% over the past year. The company is forecast to post earnings per share of CN¥7.37 for next year compared to CN¥4.72 last year. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥175, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 44x in the Communications industry in China. Total returns to shareholders of 641% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥109 per share. Announcement • Jul 02
Zhongji Innolight Co., Ltd. to Report First Half, 2025 Results on Aug 27, 2025 Zhongji Innolight Co., Ltd. announced that they will report first half, 2025 results on Aug 27, 2025 Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥145, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 49x in the Communications industry in China. Total returns to shareholders of 567% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥111 per share. Buy Or Sell Opportunity • Jun 19
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 25% to CN¥128. The fair value is estimated to be CN¥107, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last 3 years. Earnings per share has grown by 65%. For the next 3 years, revenue is forecast to grow by 20% per annum. Earnings are also forecast to grow by 21% per annum over the same time period. Declared Dividend • Jun 16
Dividend of CN¥0.50 announced Shareholders will receive a dividend of CN¥0.50. Ex-date: 19th June 2025 Payment date: 19th June 2025 Dividend yield will be 0.4%, which is lower than the industry average of 1.2%. Sustainability & Growth Dividend is well covered by both earnings (10% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 58% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 77% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥109, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 41x in the Communications industry in China. Total returns to shareholders of 365% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥106 per share. Announcement • May 17
Zhongji Innolight Co., Ltd. Approves Cash Dividend (Tax Included) for the Year 2024 Zhongji Innolight Co., Ltd. at the Annual General Meeting of 2024 on 15 May 2025, approved cash dividend (tax included) for the year 2024 of CNY 5.00000000 per 10 shares. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥96.49, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 40x in the Communications industry in China. Total returns to shareholders of 334% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥106 per share. Board Change • Apr 23
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Yan Zhuang was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Apr 23
Price target decreased by 11% to CN¥151 Down from CN¥169, the current price target is an average from 17 analysts. New target price is 81% above last closing price of CN¥83.52. Stock is down 31% over the past year. The company is forecast to post earnings per share of CN¥7.32 for next year compared to CN¥4.72 last year. Reported Earnings • Apr 22
First quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2025 results: EPS: CN¥1.44 (up from CN¥0.93 in 1Q 2024). Revenue: CN¥6.67b (up 38% from 1Q 2024). Net income: CN¥1.58b (up 57% from 1Q 2024). Profit margin: 24% (up from 21% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.3%. Earnings per share (EPS) exceeded analyst estimates by 1.2%. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Communications industry in China. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 55% per year, which means it is significantly lagging earnings growth. Announcement • Apr 22
Zhongji Innolight Co., Ltd. Proposes Final Cash Dividend for the Year 2024 Zhongji Innolight Co., Ltd. proposed final cash dividend of CNY 5.00000000 per 10 shares (tax included) for the year 2024. Price Target Changed • Apr 21
Price target decreased by 8.0% to CN¥160 Down from CN¥174, the current price target is an average from 17 analysts. New target price is 98% above last closing price of CN¥81.19. Stock is down 28% over the past year. The company is forecast to post earnings per share of CN¥7.23 for next year compared to CN¥4.71 last year. Announcement • Apr 21
Zhongji Innolight Co., Ltd., Annual General Meeting, May 15, 2025 Zhongji Innolight Co., Ltd., Annual General Meeting, May 15, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Longkou, Shandong China New Risk • Apr 07
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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to CN¥75.10, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 42x in the Communications industry in China. Total returns to shareholders of 258% over the past three years. Announcement • Mar 31
Zhongji Innolight Co., Ltd. to Report Q1, 2025 Results on Apr 21, 2025 Zhongji Innolight Co., Ltd. announced that they will report Q1, 2025 results on Apr 21, 2025 Major Estimate Revision • Mar 12
Consensus revenue estimates increase by 26%, EPS downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from CN¥29.8b to CN¥37.6b. EPS estimate fell from CN¥7.63 to CN¥7.15. Net income forecast to grow 61% next year vs 66% growth forecast for Communications industry in China. Consensus price target down from CN¥191 to CN¥180. Share price was steady at CN¥102 over the past week. Reported Earnings • Mar 01
Full year 2024 earnings released: EPS: CN¥4.71 (vs CN¥2.00 in FY 2023) Full year 2024 results: EPS: CN¥4.71 (up from CN¥2.00 in FY 2023). Revenue: CN¥23.9b (up 123% from FY 2023). Net income: CN¥5.17b (up 138% from FY 2023). Profit margin: 22% (up from 20% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Communications industry in China. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 55% per year, which means it is significantly lagging earnings growth. 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¥101, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 40x in the Communications industry in China. Total returns to shareholders of 280% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥163 per share. New Risk • Feb 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 9.4% 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 (43% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (9.4% average weekly change). Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥132, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 31x in the Communications industry in China. Total returns to shareholders of 408% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥196 per share. Announcement • Dec 31
Zhongji Innolight Co., Ltd. to Report Fiscal Year 2024 Results on Apr 21, 2025 Zhongji Innolight Co., Ltd. announced that they will report fiscal year 2024 results on Apr 21, 2025 Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥143, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 31x in the Communications industry in China. Total returns to shareholders of 484% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥206 per share. Price Target Changed • Oct 25
Price target increased by 7.7% to CN¥188 Up from CN¥174, the current price target is an average from 17 analysts. New target price is 20% above last closing price of CN¥156. Stock is up 145% over the past year. The company is forecast to post earnings per share of CN¥4.78 for next year compared to CN¥2.00 last year. Reported Earnings • Oct 23
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: CN¥1.25 (up from CN¥0.60 in 3Q 2023). Revenue: CN¥6.51b (up 115% from 3Q 2023). Net income: CN¥1.39b (up 104% from 3Q 2023). Profit margin: 21% (down from 23% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) also missed analyst estimates by 4.5%. Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Communications industry in China. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has increased by 87% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥158, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 28x in the Communications industry in China. Total returns to shareholders of 569% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥230 per share. Buy Or Sell Opportunity • Oct 09
Now 28% undervalued Over the last 90 days, the stock has risen 8.6% to CN¥166. The fair value is estimated to be CN¥230, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 50%. For the next 3 years, revenue is forecast to grow by 33% per annum. Earnings are also forecast to grow by 31% per annum over the same time period. New Risk • Sep 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 9.0% 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 (9.0% average weekly change). High level of non-cash earnings (39% accrual ratio). Announcement • Sep 30
Zhongji Innolight Co., Ltd. to Report Q3, 2024 Results on Oct 23, 2024 Zhongji Innolight Co., Ltd. announced that they will report Q3, 2024 results on Oct 23, 2024 Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥134, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 24x in the Communications industry in China. Total returns to shareholders of 443% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥231 per share. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥116, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 22x in the Communications industry in China. Total returns to shareholders of 373% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥231 per share. Reported Earnings • Aug 26
Second quarter 2024 earnings released: EPS: CN¥2.87 (vs CN¥0.33 in 2Q 2023) Second quarter 2024 results: EPS: CN¥2.87 (up from CN¥0.33 in 2Q 2023). Revenue: CN¥5.96b (up 175% from 2Q 2023). Net income: CN¥1.35b (up 271% from 2Q 2023). Profit margin: 23% (up from 17% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 35% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Communications industry in China. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has increased by 64% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥110, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 24x in the Communications industry in China. Total returns to shareholders of 271% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥199 per share. Buy Or Sell Opportunity • Jul 19
Now 23% undervalued Over the last 90 days, the stock has risen 11% to CN¥135. The fair value is estimated to be CN¥175, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 38%. For the next 3 years, revenue is forecast to grow by 33% per annum. Earnings are also forecast to grow by 32% per annum over the same time period. Price Target Changed • Jul 15
Price target increased by 7.0% to CN¥161 Up from CN¥151, the current price target is an average from 17 analysts. New target price is 7.7% above last closing price of CN¥150. Stock is up 33% over the past year. The company is forecast to post earnings per share of CN¥4.58 for next year compared to CN¥2.00 last year. Announcement • Jun 29
Zhongji Innolight Co., Ltd. to Report First Half, 2024 Results on Aug 26, 2024 Zhongji Innolight Co., Ltd. announced that they will report first half, 2024 results on Aug 26, 2024 Price Target Changed • Jun 18
Price target increased by 7.3% to CN¥152 Up from CN¥141, the current price target is an average from 16 analysts. New target price is approximately in line with last closing price of CN¥147. Stock is up 21% over the past year. The company is forecast to post earnings per share of CN¥4.57 for next year compared to CN¥2.00 last year. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to CN¥119, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 28x in the Communications industry in China. Total returns to shareholders of 204% over the past three years. Declared Dividend • Jun 03
Dividend increased to CN¥0.45 Dividend of CN¥0.45 is 125% higher than last year. Ex-date: 6th June 2024 Payment date: 6th June 2024 Dividend yield will be 0.3%, which is lower than the industry average of 1.2%. Announcement • Jun 01
Zhongji Innolight Co., Ltd. Announces Implementation of Cash Dividend A Shares for the Year 2023, Payable on 06 June 2024 Zhongji Innolight Co., Ltd. announced 2023 final profit distribution plan to be implemented (A shares) as Cash dividend/10 shares (tax included): CNY 4.50000000. Record date: 05 June 2024, Ex-date: 06 June 2024, Payment date: 06 June 2024. Announcement • May 25
Zhongji Innolight Co., Ltd. Approves 2023 Profit Distribution Plan The Zhongji Innolight Co., Ltd. held its Annual General Meeting of 2023 on 23 May 2024, and approved 2023 profit distribution plan, Cash dividend/10 shares (tax included): CNY 4.50000000. Price Target Changed • Apr 25
Price target increased by 9.4% to CN¥192 Up from CN¥175, the current price target is an average from 16 analysts. New target price is 17% above last closing price of CN¥164. Stock is up 109% over the past year. The company is forecast to post earnings per share of CN¥6.21 for next year compared to CN¥2.80 last year. Reported Earnings • Apr 22
First quarter 2024 earnings released: EPS: CN¥1.30 (vs CN¥0.31 in 1Q 2023) First quarter 2024 results: EPS: CN¥1.30 (up from CN¥0.31 in 1Q 2023). Revenue: CN¥4.84b (up 164% from 1Q 2023). Net income: CN¥1.01b (up 304% from 1Q 2023). Profit margin: 21% (up from 14% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Communications industry in China. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 68% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Apr 08
Price target increased by 8.3% to CN¥171 Up from CN¥158, the current price target is an average from 16 analysts. New target price is approximately in line with last closing price of CN¥165. Stock is up 134% over the past year. The company is forecast to post earnings per share of CN¥5.73 for next year compared to CN¥2.81 last year. Announcement • Mar 30
Zhongji Innolight Co., Ltd. to Report Q1, 2024 Results on Apr 22, 2024 Zhongji Innolight Co., Ltd. announced that they will report Q1, 2024 results on Apr 22, 2024 Buy Or Sell Opportunity • Mar 29
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 39% to CN¥157. The fair value is estimated to be CN¥129, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 27%. For the next 3 years, revenue is forecast to grow by 37% per annum. Earnings are also forecast to grow by 34% per annum over the same time period. Buy Or Sell Opportunity • Feb 29
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 55% to CN¥155. The fair value is estimated to be CN¥127, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 27%. For the next 3 years, revenue is forecast to grow by 36% per annum. Earnings are also forecast to grow by 33% per annum over the same time period. Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: CN¥2.81 (vs CN¥1.54 in FY 2022) Full year 2023 results: EPS: CN¥2.81 (up from CN¥1.54 in FY 2022). Revenue: CN¥10.7b (up 11% from FY 2022). Net income: CN¥2.18b (up 78% from FY 2022). Profit margin: 20% (up from 13% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Communications 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 53% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to CN¥160, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 23x in the Communications industry in China. Total returns to shareholders of 229% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥124 per share. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥125, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 18x in the Communications industry in China. Total returns to shareholders of 159% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥112 per share. 
