New Risk • Apr 26
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 420% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Apr 16
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: CN¥0.09 (up from CN¥0.22 loss in FY 2024). Revenue: CN¥486.9m (up 16% from FY 2024). Net income: CN¥36.9m (up CN¥132.8m from FY 2024). Profit margin: 7.6% (up from net loss in FY 2024). The move to profitability was primarily driven by higher revenue. Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 26% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has fallen by 21% 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. Duyuru • Mar 30
Primarius Technologies Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Primarius Technologies Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Reported Earnings • Mar 05
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: CN¥0.09 (up from CN¥0.22 loss in FY 2024). Revenue: CN¥486.9m (up 16% from FY 2024). Net income: CN¥36.9m (up CN¥132.8m from FY 2024). Profit margin: 7.6% (up from net loss in FY 2024). The move to profitability was primarily driven by higher revenue. Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 26% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Duyuru • Dec 26
Primarius Technologies Co., Ltd. to Report Fiscal Year 2025 Results on Apr 16, 2026 Primarius Technologies Co., Ltd. announced that they will report fiscal year 2025 results on Apr 16, 2026 Board Change • Dec 09
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Independent Director Wei Zhang was the last independent director to join the board, commencing their role in 2025. 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 31
Third quarter 2025 earnings released: CN¥0.011 loss per share (vs CN¥0.038 loss in 3Q 2024) Third quarter 2025 results: CN¥0.011 loss per share (improved from CN¥0.038 loss in 3Q 2024). Revenue: CN¥96.2m (up 16% from 3Q 2024). Net loss: CN¥4.19m (loss narrowed 74% from 3Q 2024). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 26% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Duyuru • Sep 30
Primarius Technologies Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Primarius Technologies Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Price Target Changed • Aug 16
Price target increased by 8.1% to CN¥21.97 Up from CN¥20.31, the current price target is an average from 2 analysts. New target price is 33% below last closing price of CN¥32.62. Stock is up 134% over the past year. The company is forecast to post a net loss per share of CN¥0.033 next year compared to a net loss per share of CN¥0.22 last year. Duyuru • Jul 17
Shanghai Xinhechuang No.1 Private Equity Investment Fund Partnership Enterprise (Limited Partnership) acquired 5% stake in Primarius Technologies Co., Ltd. (SHSE:688206) from a group of shareholders for approximately CNY 610 million. Shanghai Xinhechuang No.1 Private Equity Investment Fund Partnership Enterprise (Limited Partnership) acquired 5% stake in Primarius Technologies Co., Ltd. (SHSE:688206) from a group of shareholders for approximately CNY 610 million on July 14, 2025. A cash consideration valued at CNY 28.16 per share will be paid by Shanghai Xinhechuang No.1 Private Equity Investment Fund Partnership Enterprise (Limited Partnership). Before this agreement transfer, the Transferors collectively hold 186,689,024 shares of the Company, accounting for 42.90% of the Company’s total share capital; the Transferee does not hold any company shares. After this agreement transfer, the Transferors collectively will hold 164,930,131 shares of the Company, accounting for 37.90% of the Company’s total share capital; the Transferee collectively will hold 21,758,893 company shares, accounting for 5.00% of the Company’s total share capital.
Shanghai Xinhechuang No.1 Private Equity Investment Fund Partnership Enterprise (Limited Partnership) completed the acquisition of 5% stake in Primarius Technologies Co., Ltd. (SHSE:688206) from a group of shareholders for approximately CNY 610 million on July 14, 2025. Duyuru • Jun 30
Primarius Technologies Co., Ltd. to Report First Half, 2025 Results on Aug 30, 2025 Primarius Technologies Co., Ltd. announced that they will report first half, 2025 results on Aug 30, 2025 New Risk • May 29
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 9.5% 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. Major Estimate Revision • May 21
Consensus EPS estimates fall by 33% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -CN¥0.045 to -CN¥0.06 per share. Revenue forecast unchanged at CN¥552.6m. Semiconductor industry in China expected to see average net income growth of 63% next year. Consensus price target broadly unchanged at CN¥20.28. Share price was steady at CN¥23.85 over the past week. Duyuru • May 19
Primarius Technologies Co., Ltd., Annual General Meeting, Jun 10, 2025 Primarius Technologies Co., Ltd., Annual General Meeting, Jun 10, 2025, at 14:00 China Standard Time. Location: 9F, Building 4, No. 26, Qiuyue Road, Pudong New Area, Shanghai China Reported Earnings • Apr 30
Full year 2024 earnings released: CN¥0.22 loss per share (vs CN¥0.13 loss in FY 2023) Full year 2024 results: CN¥0.22 loss per share (further deteriorated from CN¥0.13 loss in FY 2023). Revenue: CN¥419.1m (up 27% from FY 2023). Net loss: CN¥96.0m (loss widened 70% from FY 2023). Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 109 percentage points per year, which is a significant difference in performance. Duyuru • Mar 28
Primarius Technologies Co., Ltd. to Report Q1, 2025 Results on Apr 30, 2025 Primarius Technologies Co., Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Major Estimate Revision • Mar 12
Consensus revenue estimates increase by 10% The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from CN¥552.7m to CN¥610.4m. EPS estimate reaffirmed at -CN¥0.05 per share. Semiconductor industry in China expected to see average net income growth of 56% next year. Consensus price target down from CN¥20.40 to CN¥19.40. Share price was steady at CN¥20.50 over the past week. Reported Earnings • Mar 03
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: CN¥0.22 loss per share (further deteriorated from CN¥0.13 loss in FY 2023). Revenue: CN¥419.5m (up 28% from FY 2023). Net loss: CN¥95.3m (loss widened 69% from FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 69%. Revenue is forecast to grow 26% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Duyuru • Dec 27
Primarius Technologies Co., Ltd. to Report Fiscal Year 2024 Results on Apr 12, 2025 Primarius Technologies Co., Ltd. announced that they will report fiscal year 2024 results on Apr 12, 2025 Major Estimate Revision • Nov 13
Consensus EPS estimates fall by 30%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from CN¥414.3m to CN¥422.9m. Forecast EPS reduced from -CN¥0.10 to -CN¥0.13 per share. Semiconductor industry in China expected to see average net income growth of 58% next year. Consensus price target up from CN¥19.58 to CN¥20.40. Share price rose 13% to CN¥24.75 over the past week. Reported Earnings • Oct 30
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: CN¥0.038 loss per share (improved from CN¥0.068 loss in 3Q 2023). Revenue: CN¥83.1m (up 19% from 3Q 2023). Net loss: CN¥16.3m (loss narrowed 45% from 3Q 2023). Revenue missed analyst estimates by 23%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Semiconductor industry in China. Duyuru • Sep 30
Primarius Technologies Co., Ltd. to Report Q3, 2024 Results on Oct 30, 2024 Primarius Technologies Co., Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Price Target Changed • Sep 02
Price target decreased by 10.0% to CN¥17.24 Down from CN¥19.15, the current price target is an average from 3 analysts. New target price is 34% above last closing price of CN¥12.91. Stock is down 47% over the past year. The company is forecast to post a net loss per share of CN¥0.10 next year compared to a net loss per share of CN¥0.13 last year. Reported Earnings • Aug 31
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: CN¥0.01 loss per share (down from CN¥0.001 profit in 2Q 2023). Revenue: CN¥114.2m (up 29% from 2Q 2023). Net loss: CN¥4.41m (down 486% from profit in 2Q 2023). Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Semiconductor industry in China. New Risk • Jul 23
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 7.2% 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. Duyuru • Jun 28
Primarius Technologies Co., Ltd. to Report First Half, 2024 Results on Aug 31, 2024 Primarius Technologies Co., Ltd. announced that they will report first half, 2024 results on Aug 31, 2024 Duyuru • Jun 08
Primarius Technologies Co., Ltd., Annual General Meeting, Jun 26, 2024 Primarius Technologies Co., Ltd., Annual General Meeting, Jun 26, 2024, at 14:00 China Standard Time. Location: 9F, Building 4, No. 26, Qiuyue Road, Pudong New Area, Shanghai China Reported Earnings • Apr 27
First quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2024 results: CN¥0.084 loss per share (further deteriorated from CN¥0.001 loss in 1Q 2023). Revenue: CN¥81.8m (up 28% from 1Q 2023). Net loss: CN¥36.5m (loss widened CN¥36.0m from 1Q 2023). Revenue exceeded analyst estimates by 27%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Semiconductor industry in China. Price Target Changed • Apr 02
Price target decreased by 12% to CN¥27.04 Down from CN¥30.89, the current price target is an average from 2 analysts. New target price is 72% above last closing price of CN¥15.72. Stock is down 57% over the past year. The company is forecast to post earnings per share of CN¥0.12 next year compared to a net loss per share of CN¥0.13 last year. Duyuru • Mar 29
Primarius Technologies Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Primarius Technologies Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Reported Earnings • Feb 27
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: CN¥0.13 loss per share (down from CN¥0.10 profit in FY 2022). Revenue: CN¥329.1m (up 18% from FY 2022). Net loss: CN¥57.9m (down 229% from profit in FY 2022). Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 117%. Revenue is forecast to grow 36% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Semiconductor industry in China. Duyuru • Feb 01
Primarius Technologies Co., Ltd. (SHSE:688206) announces an Equity Buyback for CNY 40 million worth of its shares. Primarius Technologies Co., Ltd. (SHSE:688206) announces a share repurchase program. Under the program, the company will repurchase up to CNY 40 million worth of its A shares. The shares will be purchased at a price not exceeding CNY 30 per share. The repurchased shares will be used for the implementation of ESOP or equity incentive plan. The program will be valid for 12 months. New Risk • Nov 27
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 8.3% 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. Reported Earnings • Nov 01
Third quarter 2023 earnings: Revenues miss analyst expectations Third quarter 2023 results: Revenue: CN¥69.6m (up 14% from 3Q 2022). Net loss: CN¥29.3m (down 340% from profit in 3Q 2022). Revenue missed analyst estimates by 18%. Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Semiconductor industry in China. New Risk • Oct 21
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 8.0% 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 (8.0% average weekly change). High level of non-cash earnings (22% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (8.5% net profit margin). Price Target Changed • Sep 04
Price target decreased by 15% to CN¥35.47 Down from CN¥41.76, the current price target is an average from 3 analysts. New target price is 45% above last closing price of CN¥24.44. Stock is down 37% over the past year. The company is forecast to post earnings per share of CN¥0.02 for next year compared to CN¥0.10 last year. Major Estimate Revision • Sep 02
Consensus EPS estimates fall by 86% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥405.6m to CN¥372.0m. EPS estimate also fell from CN¥0.14 per share to CN¥0.02 per share. Net income forecast to grow 58% next year vs 70% growth forecast for Semiconductor industry in China. Consensus price target down from CN¥41.76 to CN¥40.70. Share price rose 8.5% to CN¥24.52 over the past week. Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: CN¥0.001 (vs CN¥0.028 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.001 (down from CN¥0.028 in 2Q 2022). Revenue: CN¥88.4m (up 26% from 2Q 2022). Net income: CN¥1.14m (down 92% from 2Q 2022). Profit margin: 1.3% (down from 19% in 2Q 2022). Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Semiconductor industry in China. Major Estimate Revision • Jul 21
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥423.4m to CN¥405.6m. EPS estimate also fell from CN¥0.16 per share to CN¥0.14 per share. Net income forecast to grow 71% next year vs 65% growth forecast for Semiconductor industry in China. Consensus price target down from CN¥42.93 to CN¥41.76. Share price fell 5.3% to CN¥25.46 over the past week. Duyuru • Jul 07
Primarius to Showcase DTCO-Enabled EDA Solutions at DAC Powered by Next-Generation SPICE and FastSPICE Technology Primarius Technologies will showcase its Design-Technology Co-Optimization (DTCO)-enabled EDA solutions powered by the latest generation SPICE and FastSPICE technologies at the Design Automation Conference (DAC) July 10-12 at Moscone Center in San Francisco. Demonstrations will highlight the more than 2X performance boost in SPICE and FastSPICE simulation with the introduction of NanoSpice X™ and NanoSpice Pro X™ that combines 10 plus years of continuous innovations on circuit simulation by Primarius’ team. NanoSpice X shows significant new improvements in large post-layout SPICE simulation for full-chip analog designs with complicated digital circuits where huge power and ground nets slowed SPICE simulation previously. NanoSpice Pro X for FastSPICE simulation provides better performance and usability for challenging designs including advanced SRAM, DRAM, Flash and other large block or full-chip designs. Both circuit analysis solutions offer comprehensive high-yield and signal integrity analysis, aging and EM/IR simulation and advanced circuit checking capabilities. Primarius’ NanoCell™, a next-generation cloud-ready standard cell library characterization solution, can provide accurate and near-linear scaling performance on more than 10,000 cores through industry-proven modeling and simulation engines. The DAC demonstration will offer examples of its faster library characterization abilities for advanced process nodes. Other demonstrations will feature 9812AC™, the first AC low-frequency dynamic noise test system for advanced process development, and SDEP™, a spec-driven modeling automation platform for efficient and quality SPICE model auto-generation. Also, PCellLab™ and PQLab™, an intuitive, efficient and quality PCell auto-generation for PDK development platform with full PDK quality assurance capabilities. Duyuru • Jun 28
Primarius Technologies Co., Ltd. to Report First Half, 2023 Results on Aug 29, 2023 Primarius Technologies Co., Ltd. announced that they will report first half, 2023 results on Aug 29, 2023 Price Target Changed • Apr 14
Price target increased by 9.1% to CN¥45.10 Up from CN¥41.32, the current price target is an average from 2 analysts. New target price is 24% above last closing price of CN¥36.31. Stock is up 52% over the past year. The company is forecast to post earnings per share of CN¥0.17 for next year compared to CN¥0.10 last year. Reported Earnings • Apr 08
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: CN¥0.10 (up from CN¥0.07 in FY 2021). Revenue: CN¥278.5m (up 44% from FY 2021). Net income: CN¥44.9m (up 57% from FY 2021). Profit margin: 16% (up from 15% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) missed analyst estimates by 20%. Revenue is forecast to grow 37% p.a. on average during the next 2 years, compared to a 26% growth forecast for the Semiconductor industry in China. Reported Earnings • Mar 01
Full year 2022 earnings released: EPS: CN¥0.10 (vs CN¥0.07 in FY 2021) Full year 2022 results: EPS: CN¥0.10 (up from CN¥0.07 in FY 2021). Revenue: CN¥278.5m (up 44% from FY 2021). Net income: CN¥44.5m (up 56% from FY 2021). Profit margin: 16% (up from 15% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 34% p.a. on average during the next 2 years, compared to a 25% growth forecast for the Semiconductor industry in China. Major Estimate Revision • Feb 01
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2022 has been updated. 2022 EPS estimate fell from CN¥0.14 to CN¥0.125 per share. Revenue forecast steady at CN¥271.9m. Net income forecast to grow 52% next year vs 43% growth forecast for Semiconductor industry in China. Consensus price target broadly unchanged at CN¥41.82. Share price was steady at CN¥29.97 over the past week. Reported Earnings • Oct 30
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: CN¥0.031. Net income: CN¥12.2m (up CN¥12.2m from 3Q 2021). Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) exceeded analyst estimates by 50%. Revenue is forecast to grow 39% p.a. on average during the next 3 years, compared to a 26% growth forecast for the Semiconductor industry in China. Reported Earnings • Aug 24
Second quarter 2022 earnings released Second quarter 2022 results: Net income: CN¥13.6m (up CN¥13.6m from 2Q 2021). Over the next year, revenue is forecast to grow 50%, compared to a 49% growth forecast for the Semiconductor industry in China. Duyuru • Jun 30
Primarius Unveils Custom Design Environment, Circuit Simulation and Design Enablement Solutions at DAC Primarius Technologies Co., Ltd. will unveil its flexible and scalable design environment for custom memory and analog/mixed-signal IC design and new circuit simulation and design enablement solutions during the Design Automation Conference (DAC) July 11-13 at Moscone Center in San Francisco. Demonstrations will feature Primarius’ NanoDesigner™, a full custom design platform; SDEP™, an innovative spec-driven modeling automation platform; PCellLab™, a PDK parameterized cell library development platform; NanoCell™, a standard cell library characterization solution; and 9812AC, the first commercial AC dynamic noise measurement system. Primarius is committed to delivering innovative data-driven design technology co-optimization (DTCO) EDA solutions powered by SPICE/FastSPICE simulation technologies, shortening time to market and improving yield, power, performance and area of circuit designs at advanced process nodes. Its DTCO solutions such as SDEP, PCellLab, NanoCell and FS-Pro reduce the iteration cycle from process technology development to IC design for models, PDKs and standard cell development products available from Primarius. Reported Earnings • Apr 16
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: CN¥0.07 (down from CN¥0.17 in FY 2020). Revenue: CN¥193.9m (up 41% from FY 2020). Net income: CN¥28.6m (down 1.4% from FY 2020). Profit margin: 15% (down from 21% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) exceeded analyst estimates by 17%. Over the next year, revenue is forecast to grow 41%, compared to a 46% growth forecast for the industry in China. Reported Earnings • Mar 04
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: CN¥0.07 (down from CN¥0.17 in FY 2020). Revenue: CN¥193.9m (up 41% from FY 2020). Net income: CN¥28.2m (down 3.0% from FY 2020). Profit margin: 14% (down from 21% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) exceeded analyst estimates by 8.2%. Over the next year, revenue is forecast to grow 55%, compared to a 54% growth forecast for the industry in China.