Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CN¥42.51, the stock trades at a trailing P/E ratio of 79.6x. Average trailing P/E is 61x in the Electronic industry in China. Total returns to shareholders of 37% over the past three years. New Risk • Jul 08
New major risk - Revenue and earnings growth Earnings have declined by 32% 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 Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 32% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (5.4% net profit margin). Tillkännagivande • Jun 30
Fujian Torch Electron Technology Co., Ltd. to Report First Half, 2026 Results on Aug 22, 2026 Fujian Torch Electron Technology Co., Ltd. announced that they will report first half, 2026 results on Aug 22, 2026 Declared Dividend • Jun 04
Dividend of CN¥0.08 announced Shareholders will receive a dividend of CN¥0.08. Ex-date: 5th June 2026 Payment date: 5th June 2026 Dividend yield will be 0.4%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (42% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 54% over the next year, which should provide support to the dividend and adequate earnings cover. New Risk • May 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.3% average weekly change). Profit margins are more than 30% lower than last year (5.4% net profit margin). Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥37.68, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 37x in the Electronic industry in China. Total returns to shareholders of 11% over the past three years. Reported Earnings • Apr 05
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: CN¥0.68 (up from CN¥0.43 in FY 2024). Revenue: CN¥4.12b (up 47% from FY 2024). Net income: CN¥319.8m (up 64% from FY 2024). Profit margin: 7.8% (up from 6.9% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) missed analyst estimates by 38%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Tillkännagivande • Mar 31
Fujian Torch Electron Technology Co., Ltd., Annual General Meeting, Apr 21, 2026 Fujian Torch Electron Technology Co., Ltd., Annual General Meeting, Apr 21, 2026, at 14:30 China Standard Time. Location: No. 397, Ningguo Road, Yangpu District, Shanghai China Tillkännagivande • Mar 30
Fujian Torch Electron Technology Co., Ltd. to Report Q1, 2026 Results on Apr 29, 2026 Fujian Torch Electron Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026 Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥36.53, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 34x in the Electronic industry in China. Total loss to shareholders of 17% over the past three years. New Risk • Feb 27
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 7.4% 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. This is currently the only risk that has been identified for the company. New Risk • Feb 12
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥42.30, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 32x in the Electronic industry in China. Total returns to shareholders of 5.5% over the past three years. Tillkännagivande • Dec 26
Fujian Torch Electron Technology Co., Ltd. to Report Fiscal Year 2025 Results on Mar 31, 2026 Fujian Torch Electron Technology Co., Ltd. announced that they will report fiscal year 2025 results on Mar 31, 2026 Valuation Update With 7 Day Price Move • Dec 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥36.45, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 30x in the Electronic industry in China. Total loss to shareholders of 8.4% over the past three years. Reported Earnings • Nov 03
Third quarter 2025 earnings released: EPS: CN¥0.12 (vs CN¥0.14 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.12 (down from CN¥0.14 in 3Q 2024). Revenue: CN¥925.9m (up 28% from 3Q 2024). Net income: CN¥59.1m (down 4.3% from 3Q 2024). Profit margin: 6.4% (down from 8.5% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Tillkännagivande • Sep 30
Fujian Torch Electron Technology Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Fujian Torch Electron Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Declared Dividend • Sep 28
First half dividend of CN¥0.16 announced Shareholders will receive a dividend of CN¥0.16. Ex-date: 10th October 2025 Payment date: 10th October 2025 Dividend yield will be 0.6%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (34% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 164% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 24
Second quarter 2025 earnings released: EPS: CN¥0.34 (vs CN¥0.20 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.34 (up from CN¥0.20 in 2Q 2024). Revenue: CN¥1.01b (up 30% from 2Q 2024). Net income: CN¥154.6m (up 72% from 2Q 2024). Profit margin: 15% (up from 12% in 2Q 2024). The increase in margin was driven by higher revenue. 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 fallen by 54% 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. Tillkännagivande • Jun 30
Fujian Torch Electron Technology Co., Ltd. to Report First Half, 2025 Results on Aug 23, 2025 Fujian Torch Electron Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 23, 2025 Declared Dividend • May 24
Dividend of CN¥0.06 announced Shareholders will receive a dividend of CN¥0.06. Ex-date: 29th May 2025 Payment date: 29th May 2025 Dividend yield will be 0.4%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is well covered by both earnings (26% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased by an average of 5.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 169% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • Mar 28
Fujian Torch Electron Technology Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Fujian Torch Electron Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 New Risk • Mar 26
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 7.9% 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 Share price has been volatile over the past 3 months (7.9% average weekly change). Large one-off items impacting financial results. Tillkännagivande • Mar 24
Fujian Torch Electron Technology Co., Ltd., Annual General Meeting, Apr 11, 2025 Fujian Torch Electron Technology Co., Ltd., Annual General Meeting, Apr 11, 2025, at 14:30 China Standard Time. Location: The Company's Meeting Room, Shenzhen, Guangdong China Reported Earnings • Mar 22
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.43 (down from CN¥0.70 in FY 2023). Revenue: CN¥2.80b (down 20% from FY 2023). Net income: CN¥194.5m (down 39% from FY 2023). Profit margin: 6.9% (down from 9.1% in FY 2023). Revenue missed analyst estimates by 15%. Earnings per share (EPS) also missed analyst estimates by 39%. Revenue is forecast to grow 25% 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 52% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥35.54, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 30x in the Electronic industry in China. Total loss to shareholders of 30% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥44.51 per share. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥30.00, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 31x in the Electronic industry in China. Total loss to shareholders of 48% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥44.02 per share. New Risk • Feb 17
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 0.5% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. 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. Tillkännagivande • Dec 27
Fujian Torch Electron Technology Co., Ltd. to Report Fiscal Year 2024 Results on Mar 22, 2025 Fujian Torch Electron Technology Co., Ltd. announced that they will report fiscal year 2024 results on Mar 22, 2025 Price Target Changed • Nov 19
Price target increased by 17% to CN¥30.21 Up from CN¥25.92, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of CN¥29.05. Stock is up 2.3% over the past year. The company is forecast to post earnings per share of CN¥0.74 for next year compared to CN¥0.70 last year. Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.14 (vs CN¥0.086 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.14 (up from CN¥0.086 in 3Q 2023). Revenue: CN¥724.5m (down 36% from 3Q 2023). Net income: CN¥61.7m (up 61% from 3Q 2023). Profit margin: 8.5% (up from 3.4% in 3Q 2023). Revenue is forecast to grow 22% 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 47% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥29.01, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 24x in the Electronic industry in China. Total loss to shareholders of 60% over the past three years. New Risk • Oct 09
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 0.5% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. 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. Profit margins are more than 30% lower than last year (6.8% net profit margin). Upcoming Dividend • Oct 07
Upcoming dividend of CN¥0.07 per share Eligible shareholders must have bought the stock before 14 October 2024. Payment date: 14 October 2024. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Chinese dividend payers (2.2%). Lower than average of industry peers (1.3%). Tillkännagivande • Sep 30
Fujian Torch Electron Technology Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Fujian Torch Electron Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥23.02, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 20x in the Electronic industry in China. Total loss to shareholders of 66% over the past three years. Major Estimate Revision • Aug 26
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥4.19b to CN¥4.08b. EPS estimate also fell from CN¥0.913 per share to CN¥0.81 per share. Net income forecast to grow 87% next year vs 55% growth forecast for Electronic industry in China. Consensus price target broadly unchanged at CN¥25.41. Share price fell 7.0% to CN¥22.02 over the past week. Reported Earnings • Aug 20
Second quarter 2024 earnings released: EPS: CN¥0.20 (vs CN¥0.27 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.20 (down from CN¥0.27 in 2Q 2023). Revenue: CN¥775.1m (down 17% from 2Q 2023). Net income: CN¥90.0m (down 29% from 2Q 2023). Profit margin: 12% (down from 14% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 20% 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 40% per year but the company’s share price has only fallen by 35% per year, which means it has not declined as severely as earnings. Tillkännagivande • Jun 28
Fujian Torch Electron Technology Co., Ltd. to Report First Half, 2024 Results on Aug 23, 2024 Fujian Torch Electron Technology Co., Ltd. announced that they will report first half, 2024 results on Aug 23, 2024 Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥25.23, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 22x in the Electronic industry in China. Total loss to shareholders of 53% over the past three years. Reported Earnings • Apr 27
First quarter 2024 earnings released: EPS: CN¥0.16 (vs CN¥0.28 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.16 (down from CN¥0.28 in 1Q 2023). Revenue: CN¥651.6m (up 1.6% from 1Q 2023). Net income: CN¥74.3m (down 41% from 1Q 2023). Profit margin: 11% (down from 20% 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 fallen by 31% per year whereas the company’s share price has fallen by 29% per year. Tillkännagivande • Mar 29
Fujian Torch Electron Technology Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Fujian Torch Electron Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Tillkännagivande • Mar 19
Fujian Torch Electron Technology Co., Ltd., Annual General Meeting, Apr 08, 2024 Fujian Torch Electron Technology Co., Ltd., Annual General Meeting, Apr 08, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Quanzhou, Fujian China Reported Earnings • Mar 19
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: CN¥0.70 (down from CN¥1.75 in FY 2022). Revenue: CN¥3.50b (down 1.5% from FY 2022). Net income: CN¥318.4m (down 60% from FY 2022). Profit margin: 9.1% (down from 23% in FY 2022). The decrease in margin was primarily driven by higher expenses. Revenue exceeded analyst estimates by 19%. Earnings per share (EPS) missed analyst estimates by 36%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥18.11, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 17x in the Electronic industry in China. Total loss to shareholders of 69% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥8.32 per share. Tillkännagivande • Jan 18
Fujian Torch Electron Technology Co., Ltd. (SHSE:603678) announces an Equity Buyback for CNY 25 million worth of its shares. Fujian Torch Electron Technology Co., Ltd. (SHSE:603678) announces a share repurchase program. Under the program, the company will repurchase up to CNY 25 million worth of its Class A shares. The shares will be repurchased at a price of CNY 35 per share. The repurchased shares will be used to safeguard the company's value and shareholders' rights. The program will be funded from company's own funds. The program is valid till April 11, 2024. Tillkännagivande • Dec 29
Fujian Torch Electron Technology Co., Ltd. to Report Fiscal Year 2023 Results on Mar 16, 2024 Fujian Torch Electron Technology Co., Ltd. announced that they will report fiscal year 2023 results on Mar 16, 2024 Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: CN¥0.086 (vs CN¥0.49 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.086 (down from CN¥0.49 in 3Q 2022). Revenue: CN¥1.14b (up 30% from 3Q 2022). Net income: CN¥38.4m (down 83% from 3Q 2022). Profit margin: 3.4% (down from 25% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% 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 6% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Aug 25
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥4.16b to CN¥3.56b. EPS estimate fell from CN¥2.16 to CN¥1.77 per share. Net income forecast to grow 62% next year vs 59% growth forecast for Electronic industry in China. Consensus price target down from CN¥50.33 to CN¥42.54. Share price fell 7.3% to CN¥32.00 over the past week. Price Target Changed • Aug 19
Price target decreased by 13% to CN¥46.45 Down from CN¥53.11, the current price target is an average from 2 analysts. New target price is 35% above last closing price of CN¥34.51. Stock is down 31% over the past year. The company is forecast to post earnings per share of CN¥1.88 for next year compared to CN¥1.75 last year. Tillkännagivande • Jun 28
Fujian Torch Electron Technology Co., Ltd. to Report First Half, 2023 Results on Aug 19, 2023 Fujian Torch Electron Technology Co., Ltd. announced that they will report first half, 2023 results on Aug 19, 2023 Major Estimate Revision • Mar 28
Consensus revenue estimates fall by 31% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥5.91b to CN¥4.10b. EPS estimate fell from CN¥2.95 to CN¥2.13 per share. Net income forecast to grow 22% next year vs 48% growth forecast for Electronic industry in China. Consensus price target of CN¥50.20 unchanged from last update. Share price fell 7.1% to CN¥40.19 over the past week. Reported Earnings • Mar 22
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥1.75 (down from CN¥2.08 in FY 2021). Revenue: CN¥3.56b (down 25% from FY 2021). Net income: CN¥801.5m (down 16% from FY 2021). Profit margin: 23% (up from 20% in FY 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 28%. Earnings per share (EPS) also missed analyst estimates by 29%. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. 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. 4 experienced directors. 4 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Zhiqiang Wang was the last independent director to join the board, commencing their role in 2016. 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¥0.49 (vs CN¥0.51 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.49 (down from CN¥0.51 in 3Q 2021). Revenue: CN¥876.1m (down 26% from 3Q 2021). Net income: CN¥221.4m (down 4.2% from 3Q 2021). Profit margin: 25% (up from 20% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 23% 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 33% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 24
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥44.07, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 24x in the Electronic industry in China. Total returns to shareholders of 86% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥26.61 per share. Valuation Update With 7 Day Price Move • Aug 09
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥54.38, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 24x in the Electronic industry in China. Total returns to shareholders of 140% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥26.56 per share. Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥46.20, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 22x in the Electronic industry in China. Total returns to shareholders of 135% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥26.87 per share. Reported Earnings • Apr 28
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CN¥0.42 (down from CN¥0.56 in 1Q 2021). Revenue: CN¥842.9m (down 27% from 1Q 2021). Net income: CN¥193.9m (down 25% from 1Q 2021). Profit margin: 23% (in line with 1Q 2021). Revenue missed analyst estimates by 6.9%. Earnings per share (EPS) also missed analyst estimates by 9.4%. Over the next year, revenue is forecast to grow 39%, compared to a 24% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target increased to CN¥87.08 Up from CN¥53.11, the current price target is an average from 3 analysts. New target price is 142% above last closing price of CN¥35.93. Stock is down 41% over the past year. The company is forecast to post earnings per share of CN¥2.73 for next year compared to CN¥2.08 last year. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.51 (vs CN¥0.33 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥1.18b (up 21% from 3Q 2020). Net income: CN¥231.0m (up 53% from 3Q 2020). Profit margin: 20% (up from 15% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has increased by 66% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 25
Second quarter 2021 earnings released: EPS CN¥0.64 (vs CN¥0.47 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: CN¥1.26b (up 41% from 2Q 2020). Net income: CN¥292.5m (up 42% from 2Q 2020). Profit margin: 23% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥76.81, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 29x in the Electronic industry in China. Total returns to shareholders of 185% over the past three years. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥68.00, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 28x in the Electronic industry in China. Total returns to shareholders of 183% over the past three years. Reported Earnings • Apr 29
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥1.15b (up 91% from 1Q 2020). Net income: CN¥258.2m (up 277% from 1Q 2020). Profit margin: 22% (up from 11% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥53.01, the stock is trading at a trailing P/E ratio of 46.5x, down from the previous P/E ratio of 56.7x. This compares to an average P/E of 40x in the Electronic industry in China. Total returns to shareholders over the past three years are 101%. Is New 90 Day High Low • Mar 08
New 90-day low: CN¥53.01 The company is down 4.0% from its price of CN¥55.23 on 08 December 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥3.06 per share. Tillkännagivande • Jan 22
Fujian Torch Electron Technology Co., Ltd. to Report Fiscal Year 2020 Results on Mar 23, 2021 Fujian Torch Electron Technology Co., Ltd. announced that they will report fiscal year 2020 results on Mar 23, 2021 Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 24% share price gain to CN¥79.10, the stock is trading at a trailing P/E ratio of 69.4x, up from the previous P/E ratio of 55.8x. This compares to an average P/E of 42x in the Electronic industry in China. Total returns to shareholders over the past three years are 196%. Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥72.30, the stock is trading at a trailing P/E ratio of 63.4x, up from the previous P/E ratio of 54.9x. This compares to an average P/E of 41x in the Electronic industry in China. Total returns to shareholders over the past three years are 164%. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥62.59, the stock is trading at a trailing P/E ratio of 54.9x, up from the previous P/E ratio of 47.7x. This compares to an average P/E of 42x in the Electronic industry in China. Total returns to shareholders over the past three years are 136%. Is New 90 Day High Low • Dec 21
New 90-day high: CN¥58.26 The company is up 30% from its price of CN¥44.75 on 22 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¥1.90 per share. Is New 90 Day High Low • Dec 01
New 90-day high: CN¥52.55 The company is up 28% from its price of CN¥41.06 on 02 September 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥1.67 per share. Is New 90 Day High Low • Nov 04
New 90-day high: CN¥52.10 The company is up 30% from its price of CN¥40.20 on 06 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 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥1.67 per share. Reported Earnings • Oct 25
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥516.0m, up 39% from the prior year. Total revenue was CN¥3.32b over the last 12 months, up 44% from the prior year. Tillkännagivande • Oct 20
Fujian Torch Electron Technology Co., Ltd. to Report Q3, 2020 Results on Oct 24, 2020 Fujian Torch Electron Technology Co., Ltd. announced that they will report Q3, 2020 results on Oct 24, 2020 Price Target Changed • Oct 15
Price target raised to CN¥56.43 Up from CN¥45.67, the current price target is an average from 2 analysts. The new target price is 19% above the current share price of CN¥47.50. As of last close, the stock is up 111% over the past year. Is New 90 Day High Low • Oct 10
New 90-day high: CN¥46.90 The company is up 39% from its price of CN¥33.83 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¥1.67 per share. Is New 90 Day High Low • Sep 21
New 90-day high: CN¥44.72 The company is up 61% from its price of CN¥27.86 on 23 June 2020. The Chinese market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥1.66 per share.