Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Xueli Wen was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 31
Chaozhou Three-Circle (Group) Co.,Ltd. to Report Q1, 2026 Results on Apr 24, 2026 Chaozhou Three-Circle (Group) Co.,Ltd. announced that they will report Q1, 2026 results on Apr 24, 2026 Announcement • Mar 28
Chaozhou Three-Circle (Group) Co.,Ltd., Annual General Meeting, Apr 20, 2026 Chaozhou Three-Circle (Group) Co.,Ltd., Annual General Meeting, Apr 20, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Chaozhou, Guangdong China Announcement • Dec 31
Chaozhou Three-Circle (Group) Co.,Ltd. to Report Fiscal Year 2025 Results on Mar 28, 2026 Chaozhou Three-Circle (Group) Co.,Ltd. announced that they will report fiscal year 2025 results on Mar 28, 2026 Announcement • Sep 30
Chaozhou Three-Circle (Group) Co.,Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Chaozhou Three-Circle (Group) Co.,Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Announcement • Jul 02
Chaozhou Three-Circle (Group) Co.,Ltd. to Report First Half, 2025 Results on Aug 29, 2025 Chaozhou Three-Circle (Group) Co.,Ltd. announced that they will report first half, 2025 results on Aug 29, 2025 Announcement • May 14
Chaozhou Three-Circle (Group) Co.,Ltd., Annual General Meeting, Jun 05, 2025 Chaozhou Three-Circle (Group) Co.,Ltd., Annual General Meeting, Jun 05, 2025, at 14:30 China Standard Time. Location: The Company's Meeting Room, Chaozhou, Guangdong China Announcement • Apr 25
Chaozhou Three-Circle (Group) Co.,Ltd. Proposes Cash Dividend for 2024 Chaozhou Three-Circle (Group) Co.,Ltd. announced on 24 April 2025 the profit distribution proposal for 2024 as Cash dividend/10 shares (tax included): CNY 3.80000000. Announcement • Apr 11
Chaozhou Three-Circle (Group) Co.,Ltd. (SZSE:300408) announces an Equity Buyback for CNY 200 million worth of its shares. Chaozhou Three-Circle (Group) Co.,Ltd. (SZSE:300408) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its A shares. The repurchase price will not exceed CNY 57.79 per share. The purpose of the buyback is for ESOP or equity incentives. The repurchase will be funded through own funds or self-financing. The repurchase period will be not more than 12 months from the approval date. Announcement • Mar 31
Chaozhou Three-Circle (Group) Co.,Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Chaozhou Three-Circle (Group) Co.,Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Announcement • Dec 31
Chaozhou Three-Circle (Group) Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 24, 2025 Chaozhou Three-Circle (Group) Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 24, 2025 Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.30 (vs CN¥0.22 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.30 (up from CN¥0.22 in 3Q 2023). Revenue: CN¥1.95b (up 32% from 3Q 2023). Net income: CN¥577.7m (up 41% from 3Q 2023). Profit margin: 30% (up from 28% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥37.10, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 21x in the Electronic industry in China. Total returns to shareholders of 2.9% over the past three years. Announcement • Sep 30
Chaozhou Three-Circle (Group) Co.,Ltd. to Report Q3, 2024 Results on Oct 30, 2024 Chaozhou Three-Circle (Group) Co.,Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 New Risk • Aug 31
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 28% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Aug 30
Second quarter 2024 earnings released: EPS: CN¥0.31 (vs CN¥0.21 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.31 (up from CN¥0.21 in 2Q 2023). Revenue: CN¥1.86b (up 29% from 2Q 2023). Net income: CN¥592.6m (up 44% from 2Q 2023). Profit margin: 32% (up from 29% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% 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 only fallen by 6% per year, which means it has not declined as severely as earnings. Declared Dividend • Jul 05
Dividend of CN¥0.28 announced Shareholders will receive a dividend of CN¥0.28. Ex-date: 9th July 2024 Payment date: 9th July 2024 Dividend yield will be 1.0%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (32% earnings payout ratio) and cash flows (55% cash payout ratio). The dividend has increased by an average of 9.4% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 78% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 29
Chaozhou Three-Circle (Group) Co.,Ltd. to Report First Half, 2024 Results on Aug 30, 2024 Chaozhou Three-Circle (Group) Co.,Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Announcement • May 29
Chaozhou Three-Circle (Group) Co.,Ltd., Annual General Meeting, Jun 20, 2024 Chaozhou Three-Circle (Group) Co.,Ltd., Annual General Meeting, Jun 20, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Chaozhou, Guangdong China Reported Earnings • Apr 28
First quarter 2024 earnings released: EPS: CN¥0.23 (vs CN¥0.17 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.23 (up from CN¥0.17 in 1Q 2023). Revenue: CN¥1.56b (up 32% from 1Q 2023). Net income: CN¥433.0m (up 35% from 1Q 2023). Profit margin: 28% (in line with 1Q 2023). Revenue is forecast to grow 24% 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 14% per year whereas the company’s share price has fallen by 16% per year. Announcement • Dec 29
Chaozhou Three-Circle (Group) Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 29, 2024 Chaozhou Three-Circle (Group) Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 29, 2024 Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: CN¥0.22 (vs CN¥0.16 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.22 (up from CN¥0.16 in 3Q 2022). Revenue: CN¥1.48b (up 39% from 3Q 2022). Net income: CN¥410.9m (up 35% from 3Q 2022). Profit margin: 28% (in line with 3Q 2022). Revenue is forecast to grow 27% 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 8% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
Chaozhou Three-Circle (Group) Co.,Ltd. to Report Q3, 2023 Results on Oct 26, 2023 Chaozhou Three-Circle (Group) Co.,Ltd. announced that they will report Q3, 2023 results on Oct 26, 2023 Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: CN¥0.21 (vs CN¥0.23 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.21 (down from CN¥0.23 in 2Q 2022). Revenue: CN¥1.44b (down 3.5% from 2Q 2022). Net income: CN¥411.2m (down 6.9% from 2Q 2022). Profit margin: 29% (down from 30% in 2Q 2022). Revenue is forecast to grow 26% 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 remained flat whereas the company’s share price has increased by 3% per year. Announcement • Jul 12
Chaozhou Three-Circle (Group) Co.,Ltd. Announces Final Cash Dividend Implementation of A Shares for 2022 Chaozhou Three-Circle (Group) Co.,Ltd. announced Final Cash Dividend Implementation of A Shares of CNY CNY 2.50000000 for 2022. Record date: 14 July 2023. Ex-date: 17 July 2023. Payment date: 17 July 2023. New Risk • Jun 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Announcement • Jun 02
Chaozhou Three-Circle (Group) Co.,Ltd., Annual General Meeting, Jun 20, 2023 Chaozhou Three-Circle (Group) Co.,Ltd., Annual General Meeting, Jun 20, 2023, at 14:45 China Standard Time. Agenda: To consider 2022 annual report and its summary; to consider 2022 work report of the board of directors; to consider 2022 work report of the supervisory committee; to consider 2022 annual accounts; to consider 2022 profit distribution plan; and to consider other matters. Reported Earnings • Apr 24
Full year 2022 earnings released: EPS: CN¥0.79 (vs CN¥1.10 in FY 2021) Full year 2022 results: EPS: CN¥0.79 (down from CN¥1.10 in FY 2021). Revenue: CN¥5.15b (down 17% from FY 2021). Net income: CN¥1.50b (down 25% from FY 2021). Profit margin: 29% (down from 32% in FY 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 27% 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 19% per year whereas the company’s share price has increased by 16% per year. Board Change • Nov 16
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. 9 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Yejun Xu was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.16 (vs CN¥0.35 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.16 (down from CN¥0.35 in 3Q 2021). Revenue: CN¥1.06b (down 38% from 3Q 2021). Net income: CN¥303.4m (down 52% from 3Q 2021). Profit margin: 29% (down from 37% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 31% 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 24% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 31
Second quarter 2022 earnings released: EPS: CN¥0.23 (vs CN¥0.32 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.23 (down from CN¥0.32 in 2Q 2021). Revenue: CN¥1.49b (down 4.8% from 2Q 2021). Net income: CN¥441.8m (down 25% from 2Q 2021). Profit margin: 30% (down from 38% in 2Q 2021). The decrease in margin was primarily driven by higher expenses. Over the next year, revenue is forecast to grow 33%, compared to a 27% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Buying Opportunity • May 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 27%. The fair value is estimated to be CN¥34.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 32% in a year. Earnings is forecast to grow by 24% in the next year. Valuation Update With 7 Day Price Move • May 05
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥28.65, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 18x in the Electronic industry in China. Total returns to shareholders of 55% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥33.82 per share. Board Change • Apr 27
Insufficient new directors 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. Deputy GM, Research Institute Director & Director Ji Qiu was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Buying Opportunity • Apr 12
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 37%. The fair value is estimated to be CN¥33.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 60% in 2 years. Earnings is forecast to grow by 60% in the next 2 years. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.35 (vs CN¥0.26 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: CN¥1.71b (up 56% from 3Q 2020). Net income: CN¥627.9m (up 41% from 3Q 2020). Profit margin: 37% (down from 41% 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 16% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 19
Second quarter 2021 earnings released: EPS CN¥0.32 (vs CN¥0.21 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥1.57b (up 50% from 2Q 2020). Net income: CN¥589.2m (up 59% from 2Q 2020). Profit margin: 38% (up from 36% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 29
Full year 2020 earnings released: EPS CN¥0.82 (vs CN¥0.50 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥3.99b (up 47% from FY 2019). Net income: CN¥1.44b (up 65% from FY 2019). Profit margin: 36% (up from 32% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Reported Earnings • Mar 26
Full year 2020 earnings released: EPS CN¥0.82 (vs CN¥0.50 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥3.99b (up 47% from FY 2019). Net income: CN¥1.44b (up 65% from FY 2019). Profit margin: 36% (up from 32% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 04
New 90-day high: CN¥43.00 The company is up 26% from its price of CN¥34.15 on 06 November 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥5.84 per share. Is New 90 Day High Low • Jan 13
New 90-day high: CN¥38.36 The company is up 28% from its price of CN¥29.90 on 16 October 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥4.28 per share. Is New 90 Day High Low • Dec 21
New 90-day high: CN¥36.38 The company is up 32% from its price of CN¥27.64 on 23 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥3.91 per share. Is New 90 Day High Low • Dec 05
New 90-day high: CN¥34.20 The company is up 18% from its price of CN¥28.89 on 04 September 2020. The Chinese market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥3.36 per share. Is New 90 Day High Low • Nov 03
New 90-day high: CN¥32.86 The company is up 14% from its price of CN¥28.88 on 05 August 2020. The Chinese market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥3.44 per share. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥1.21b, up 15% from the prior year. Total revenue was CN¥3.48b over the last 12 months, up 20% from the prior year. Is New 90 Day High Low • Oct 10
New 90-day high: CN¥30.63 The company is up 8.0% from its price of CN¥28.29 on 10 July 2020. The Chinese market is down 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥3.35 per share.