Board Change • May 20
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 3 experienced directors. 1 highly experienced director. Chairman & Acting GM Peike Zhang is the most experienced director on the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Tillkännagivande • Apr 25
Sunshine Global Circuits Co.,Ltd., Annual General Meeting, May 20, 2026 Sunshine Global Circuits Co.,Ltd., Annual General Meeting, May 20, 2026, at 15:00 China Standard Time. Location: The Company's Meeting Room, Shenzhen, Guangdong China Tillkännagivande • Mar 31
Sunshine Global Circuits Co.,Ltd. to Report Q1, 2026 Results on Apr 25, 2026 Sunshine Global Circuits Co.,Ltd. announced that they will report Q1, 2026 results on Apr 25, 2026 Tillkännagivande • Dec 31
Sunshine Global Circuits Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 25, 2026 Sunshine Global Circuits Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 25, 2026 Tillkännagivande • Sep 30
Sunshine Global Circuits Co.,Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Sunshine Global Circuits Co.,Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Tillkännagivande • Jul 02
Sunshine Global Circuits Co.,Ltd. to Report First Half, 2025 Results on Aug 28, 2025 Sunshine Global Circuits Co.,Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Tillkännagivande • May 15
Sunshine Global Circuits Co.,Ltd. (SZSE:300739) announces an Equity Buyback for CNY 25 million worth of its shares. Sunshine Global Circuits Co.,Ltd. (SZSE:300739) announces a share repurchase program. Under the program, the company will repurchase up to CNY 25 million worth of its A shares. The shares will be repurchased at a price not more than CNY 18.16 per share. The repurchases will be funded from company's own funds or self- financing. The repurchased shares will be used for ESOP or equity incentives. The authorization will be valid for a period of 12 months. Tillkännagivande • Apr 26
Sunshine Global Circuits Co.,Ltd., Annual General Meeting, May 21, 2025 Sunshine Global Circuits Co.,Ltd., Annual General Meeting, May 21, 2025, at 15:00 China Standard Time. Location: No. 32, Nanhuan Road, Shangxing 2nd Industrial Zone, Xinqiao Subdistrict, Bao'an District, Shenzhen, Guangdong China Tillkännagivande • Mar 31
Sunshine Global Circuits Co.,Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Sunshine Global Circuits Co.,Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Tillkännagivande • Mar 07
Sunshine Global Circuits Co.,Ltd. Announces Board and Executive Changes Sunshine Global Circuits Co.,Ltd. announced that at 1st Extraordinary General Meeting of 2025 held on 05 March 2025, approved election of Ma Xufei, LIN JIANWU and Li Juanjuan as independent directors. Election of Qin Xiaohu and Zhang Yanfen as non-employee supervisors. Tillkännagivande • Dec 31
Sunshine Global Circuits Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 26, 2025 Sunshine Global Circuits Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 26, 2025 New Risk • Oct 28
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 110% The company is paying a dividend despite having no free cash flows. Dividend yield: 1.4% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain 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: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 110% Paying a dividend despite having no free cash flows. Earnings have declined by 5.8% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (3.6% net profit margin). Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥13.72, the stock trades at a trailing P/E ratio of 56.3x. Average trailing P/E is 41x in the Electronic industry in China. Total loss to shareholders of 10.0% over the past three years. Tillkännagivande • Sep 30
Sunshine Global Circuits Co.,Ltd. to Report Q3, 2024 Results on Oct 28, 2024 Sunshine Global Circuits Co.,Ltd. announced that they will report Q3, 2024 results on Oct 28, 2024 Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥12.21, the stock trades at a trailing P/E ratio of 50.5x. Average trailing P/E is 38x in the Electronic industry in China. Total loss to shareholders of 19% over the past three years. New Risk • Sep 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 61% 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: Major Risk Earnings have declined by 3.3% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.0% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.7% net profit margin). Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Reported Earnings • Aug 26
Second quarter 2024 earnings released: EPS: CN¥0.068 (vs CN¥0.12 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.068 (down from CN¥0.12 in 2Q 2023). Revenue: CN¥403.5m (up 1.5% from 2Q 2023). Net income: CN¥22.5m (down 37% from 2Q 2023). Profit margin: 5.6% (down from 8.9% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Jun 25
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥14.58, the stock trades at a trailing P/E ratio of 53.6x. Average trailing P/E is 40x in the Electronic industry in China. Total loss to shareholders of 4.0% over the past three years. New Risk • Jun 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.7% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 1.1% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (5.6% net profit margin). Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥13.31, the stock trades at a trailing P/E ratio of 45.7x. Average trailing P/E is 41x in the Electronic industry in China. Total loss to shareholders of 7.1% over the past three years. Board Change • Jun 01
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. 1 highly experienced director. Chairman of the Board Peike Zhang is the most experienced director on the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Tillkännagivande • May 25
Sunshine Global Circuits Co.,Ltd. Announces Final Cash Dividend on A Shares for the Year 2023, Payable on 30 May 2024 Sunshine Global Circuits Co.,Ltd. announced final cash dividend of CNY 2.00 per 10 shares (tax included) on A shares for the year 2023. Record date is 29 May 2024, Ex-date is 30 May 2024 and Payment Date is 30 May 2024. New Risk • Apr 27
New major risk - Revenue and earnings growth Earnings have declined by 1.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.1% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (12% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.6% net profit margin). Tillkännagivande • Apr 24
Sunshine Global Circuits Co.,Ltd., Annual General Meeting, May 17, 2024 Sunshine Global Circuits Co.,Ltd., Annual General Meeting, May 17, 2024, at 15:00 China Standard Time. Location: The Company's Meeting Room, Shenzhen, Guangdong China Reported Earnings • Apr 24
Full year 2023 earnings released: EPS: CN¥0.34 (vs CN¥0.62 in FY 2022) Full year 2023 results: EPS: CN¥0.34 (down from CN¥0.62 in FY 2022). Revenue: CN¥1.62b (down 18% from FY 2022). Net income: CN¥102.7m (down 44% from FY 2022). Profit margin: 6.3% (down from 9.3% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Tillkännagivande • Mar 30
Sunshine Global Circuits Co.,Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Sunshine Global Circuits Co.,Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥11.10, the stock trades at a trailing P/E ratio of 28.8x. Average trailing P/E is 35x in the Electronic industry in China. Total loss to shareholders of 25% over the past three years. Buy Or Sell Opportunity • Feb 08
Now 21% overvalued Over the last 90 days, the stock has fallen 36% to CN¥9.50. The fair value is estimated to be CN¥7.85, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 6.5%. 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 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (dividend per share is over 42x cash flows per share). Share price has been volatile over the past 3 months (6.8% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥11.11, the stock trades at a trailing P/E ratio of 28.8x. Average trailing P/E is 34x in the Electronic industry in China. Total loss to shareholders of 21% over the past three years. Tillkännagivande • Dec 29
Sunshine Global Circuits Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 24, 2024 Sunshine Global Circuits Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 24, 2024 Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.07 (vs CN¥0.19 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.07 (down from CN¥0.19 in 3Q 2022). Revenue: CN¥407.6m (down 17% from 3Q 2022). Net income: CN¥20.3m (down 64% from 3Q 2022). Profit margin: 5.0% (down from 12% in 3Q 2022). Tillkännagivande • Sep 30
Sunshine Global Circuits Co.,Ltd. to Report Q3, 2023 Results on Oct 27, 2023 Sunshine Global Circuits Co.,Ltd. announced that they will report Q3, 2023 results on Oct 27, 2023 Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: CN¥0.12 (vs CN¥0.15 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.12 (down from CN¥0.15 in 2Q 2022). Revenue: CN¥397.6m (down 22% from 2Q 2022). Net income: CN¥35.5m (down 18% from 2Q 2022). Profit margin: 8.9% (up from 8.5% in 2Q 2022). The increase in margin was driven by lower expenses. Buying Opportunity • May 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 10%. The fair value is estimated to be CN¥16.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 6.0%. Upcoming Dividend • May 02
Upcoming dividend of CN¥0.35 per share at 2.6% yield Eligible shareholders must have bought the stock before 09 May 2023. Payment date: 09 May 2023. Payout ratio is a comfortable 65% and this is well supported by cash flows. Trailing yield: 2.6%. Within top quartile of Chinese dividend payers (2.0%). Higher than average of industry peers (1.3%). Board Change • Apr 18
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Zhidong Huang was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: CN¥0.62 (vs CN¥0.38 in FY 2021) Full year 2022 results: EPS: CN¥0.62 (up from CN¥0.38 in FY 2021). Revenue: CN¥1.97b (up 6.2% from FY 2021). Net income: CN¥182.5m (up 66% from FY 2021). Profit margin: 9.3% (up from 5.9% in FY 2021). The increase in margin was driven by higher revenue. Reported Earnings • Oct 25
Third quarter 2022 earnings released: EPS: CN¥0.19 (vs CN¥0.13 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.19 (up from CN¥0.13 in 3Q 2021). Revenue: CN¥491.6m (down 6.4% from 3Q 2021). Net income: CN¥56.4m (up 48% from 3Q 2021). Profit margin: 12% (up from 7.3% in 3Q 2021). The increase in margin was driven by lower expenses. Reported Earnings • Aug 27
Second quarter 2022 earnings released: EPS: CN¥0.15 (vs CN¥0.092 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.15 (up from CN¥0.092 in 2Q 2021). Revenue: CN¥507.5m (up 22% from 2Q 2021). Net income: CN¥43.3m (up 86% from 2Q 2021). Profit margin: 8.5% (up from 5.6% in 2Q 2021). The increase in margin was driven by higher revenue. Reported Earnings • Apr 30
First quarter 2022 earnings released: EPS: CN¥0.16 (vs CN¥0.06 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.16 (up from CN¥0.06 in 1Q 2021). Revenue: CN¥547.5m (up 56% from 1Q 2021). Net income: CN¥47.4m (up 172% from 1Q 2021). Profit margin: 8.7% (up from 5.0% in 1Q 2021). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥18.49, the stock trades at a trailing P/E ratio of 53.4x. Average trailing P/E is 37x in the Electronic industry in China. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.13 (vs CN¥0.097 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¥525.3m (up 59% from 3Q 2020). Net income: CN¥38.2m (up 43% from 3Q 2020). Profit margin: 7.3% (down from 8.1% in 3Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS CN¥0.092 (vs CN¥0.18 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥416.6m (up 20% from 2Q 2020). Net income: CN¥23.3m (down 54% from 2Q 2020). Profit margin: 5.6% (down from 14% in 2Q 2020). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥18.84, the stock trades at a trailing P/E ratio of 45.1x. Average trailing P/E is 37x in the Electronic industry in China. Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥17.12, the stock trades at a trailing P/E ratio of 40.9x. Average trailing P/E is 38x in the Electronic industry in China. Reported Earnings • Apr 27
Full year 2020 earnings released: EPS CN¥0.48 (vs CN¥0.48 in FY 2019) The company reported a mediocre full year result with weaker profit margins, although earnings were flat and revenues improved. Full year 2020 results: Revenue: CN¥1.29b (up 12% from FY 2019). Net income: CN¥133.0m (flat on FY 2019). Profit margin: 10% (down from 12% in FY 2019). The decrease in margin was driven by higher expenses.