New Risk • May 21
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -CN¥159m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. 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). Negative equity (-CN¥776m). Earnings have declined by 69% per year over the past 5 years. Minor Risk Less than 1 year of cash runway based on current free cash flow (-CN¥159m). Reported Earnings • May 01
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: CN¥7.12 loss per share (further deteriorated from CN¥5.33 loss in FY 2024). Revenue: CN¥447.8m (down 72% from FY 2024). Net loss: CN¥1.86b (loss widened 34% from FY 2024). Revenue missed analyst estimates by 75%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Duyuru • Apr 30
Piesat Information Technology Co., Ltd., Annual General Meeting, May 20, 2026 Piesat Information Technology Co., Ltd., Annual General Meeting, May 20, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Beijing China New Risk • Apr 08
New major risk - Revenue and earnings growth Earnings have declined by 70% 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 (14% average weekly change). Earnings have declined by 70% per year over the past 5 years. Duyuru • Mar 30
Piesat Information Technology Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Piesat Information Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 New Risk • Mar 08
New major risk - Revenue and earnings growth Earnings have declined by 70% 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 (15% average weekly change). Earnings have declined by 70% per year over the past 5 years. Reported Earnings • Mar 05
Full year 2025 earnings released: CN¥4.47 loss per share (vs CN¥5.33 loss in FY 2024) Full year 2025 results: CN¥4.47 loss per share (improved from CN¥5.33 loss in FY 2024). Revenue: CN¥533.9m (down 66% from FY 2024). Net loss: CN¥1.17b (loss narrowed 16% from FY 2024). Revenue is forecast to grow 62% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Software industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Duyuru • Dec 26
Piesat Information Technology Co., Ltd. to Report Fiscal Year 2025 Results on Apr 30, 2026 Piesat Information Technology Co., Ltd. announced that they will report fiscal year 2025 results on Apr 30, 2026 Reported Earnings • Oct 31
Third quarter 2025 earnings released: CN¥0.45 loss per share (vs CN¥0.14 loss in 3Q 2024) Third quarter 2025 results: CN¥0.45 loss per share (further deteriorated from CN¥0.14 loss in 3Q 2024). Revenue: CN¥112.9m (down 78% from 3Q 2024). Net loss: CN¥118.9m (loss widened 221% from 3Q 2024). Revenue is forecast to grow 45% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Duyuru • Sep 30
Piesat Information Technology Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Piesat Information Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 New Risk • Aug 25
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 7.7% 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 30
Piesat Information Technology Co., Ltd. to Report First Half, 2025 Results on Aug 30, 2025 Piesat Information Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 30, 2025 Reported Earnings • May 03
First quarter 2025 earnings released: CN¥0.44 loss per share (vs CN¥0.58 loss in 1Q 2024) First quarter 2025 results: CN¥0.44 loss per share (improved from CN¥0.58 loss in 1Q 2024). Revenue: CN¥123.8m (down 44% from 1Q 2024). Net loss: CN¥114.7m (loss narrowed 24% from 1Q 2024). Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Duyuru • Apr 29
Piesat Information Technology Co., Ltd., Annual General Meeting, May 20, 2025 Piesat Information Technology Co., Ltd., Annual General Meeting, May 20, 2025, at 14:30 China Standard Time. Duyuru • Mar 28
Piesat Information Technology Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Piesat Information Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 New Risk • Mar 24
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: Major Risk Less than 1 year of cash runway based on free cash flow trend (-CN¥221m free cash flow). Minor Risk Share price has been volatile over the past 3 months (7.9% average weekly change). Reported Earnings • Mar 02
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: CN¥5.48 loss per share (further deteriorated from CN¥1.63 loss in FY 2023). Revenue: CN¥1.59b (down 13% from FY 2023). Net loss: CN¥1.43b (loss widened 283% from FY 2023). Revenue missed analyst estimates by 33%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Software industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Duyuru • Dec 27
Piesat Information Technology Co., Ltd. to Report Fiscal Year 2024 Results on Apr 29, 2025 Piesat Information Technology Co., Ltd. announced that they will report fiscal year 2024 results on Apr 29, 2025 Reported Earnings • Oct 26
Third quarter 2024 earnings released: CN¥0.14 loss per share (vs CN¥0.24 loss in 3Q 2023) Third quarter 2024 results: CN¥0.14 loss per share (improved from CN¥0.24 loss in 3Q 2023). Revenue: CN¥501.9m (down 11% from 3Q 2023). Net loss: CN¥37.1m (loss narrowed 28% from 3Q 2023). Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Duyuru • Sep 30
Piesat Information Technology Co., Ltd. to Report Q3, 2024 Results on Oct 26, 2024 Piesat Information Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 26, 2024 Reported Earnings • Aug 31
Second quarter 2024 earnings released: CN¥0.13 loss per share (vs CN¥0.35 profit in 2Q 2023) Second quarter 2024 results: CN¥0.13 loss per share (down from CN¥0.35 profit in 2Q 2023). Revenue: CN¥621.5m (down 17% from 2Q 2023). Net loss: CN¥34.0m (down 134% from profit in 2Q 2023). Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. New Risk • Aug 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 9.5% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (9.5% average weekly change). Duyuru • Jun 28
Piesat Information Technology Co., Ltd. to Report First Half, 2024 Results on Aug 31, 2024 Piesat Information Technology Co., Ltd. announced that they will report first half, 2024 results on Aug 31, 2024 Reported Earnings • Apr 26
First quarter 2024 earnings released: CN¥0.58 loss per share (vs CN¥0.34 loss in 1Q 2023) First quarter 2024 results: CN¥0.58 loss per share (further deteriorated from CN¥0.34 loss in 1Q 2023). Revenue: CN¥221.4m (down 20% from 1Q 2023). Net loss: CN¥150.7m (loss widened 69% from 1Q 2023). Revenue is forecast to grow 46% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Software 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 only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 14
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: CN¥1.63 loss per share (down from CN¥1.02 profit in FY 2022). Revenue: CN¥1.82b (down 26% from FY 2022). Net loss: CN¥374.2m (down 242% from profit in FY 2022). Revenue missed analyst estimates by 43%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 40% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has fallen by 27% 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. Duyuru • Apr 12
Piesat Information Technology Co., Ltd., Annual General Meeting, May 08, 2024 Piesat Information Technology Co., Ltd., Annual General Meeting, May 08, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Beijing China Duyuru • Mar 29
Piesat Information Technology Co., Ltd. to Report Q1, 2024 Results on Apr 26, 2024 Piesat Information Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 New Risk • Mar 28
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 12% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (12% average weekly change). Reported Earnings • Feb 29
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: CN¥1.60 loss per share (down from CN¥1.02 profit in FY 2022). Revenue: CN¥1.84b (down 25% from FY 2022). Net loss: CN¥366.7m (down 239% from profit in FY 2022). Revenue missed analyst estimates by 42%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 48% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. 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¥22.07, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 28x in the Software industry in China. Total loss to shareholders of 21% over the past three years. Duyuru • Dec 29
Piesat Information Technology Co., Ltd. to Report Fiscal Year 2023 Results on Apr 12, 2024 Piesat Information Technology Co., Ltd. announced that they will report fiscal year 2023 results on Apr 12, 2024 Buying Opportunity • Nov 16
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 22%. The fair value is estimated to be CN¥62.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 43% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 99% in 2 years. Earnings is forecast to grow by 346% in the next 2 years. Major Estimate Revision • Nov 03
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥3.48b to CN¥3.34b. EPS estimate also fell from CN¥1.57 per share to CN¥1.37 per share. Net income forecast to grow 234% next year vs 96% growth forecast for Software industry in China. Consensus price target down from CN¥81.03 to CN¥68.38. Share price fell 2.7% to CN¥42.67 over the past week. Reported Earnings • Nov 01
Third quarter 2023 earnings released: CN¥0.24 loss per share (vs CN¥0.25 profit in 3Q 2022) Third quarter 2023 results: CN¥0.24 loss per share (down from CN¥0.25 profit in 3Q 2022). Revenue: CN¥562.7m (down 7.9% from 3Q 2022). Net loss: CN¥51.4m (down 169% from profit in 3Q 2022). Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Price Target Changed • Oct 29
Price target decreased by 9.4% to CN¥72.64 Down from CN¥80.17, the current price target is an average from 4 analysts. New target price is 66% above last closing price of CN¥43.84. Stock is down 28% over the past year. The company is forecast to post earnings per share of CN¥1.49 for next year compared to CN¥1.02 last year. Buying Opportunity • Oct 12
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 30%. The fair value is estimated to be CN¥60.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 47% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 109% in 2 years. Earnings is forecast to grow by 160% in the next 2 years. Price Target Changed • Sep 05
Price target decreased by 7.5% to CN¥80.17 Down from CN¥86.65, the current price target is an average from 4 analysts. New target price is 45% above last closing price of CN¥55.30. Stock is up 0.5% over the past year. The company is forecast to post earnings per share of CN¥1.56 for next year compared to CN¥1.02 last year. Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: CN¥0.35 (vs CN¥0.26 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.35 (up from CN¥0.26 in 2Q 2022). Revenue: CN¥748.7m (up 28% from 2Q 2022). Net income: CN¥99.9m (up 72% from 2Q 2022). Profit margin: 13% (up from 9.9% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Software 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 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥65.64, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 50x in the Software industry in China. Total returns to shareholders of 76% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥43.79 per share. Duyuru • Jun 01
Piesat Information Technology Co., Ltd. (SHSE:688066) announces an Equity Buyback for CNY 100 million worth of its shares. Piesat Information Technology Co., Ltd. (SHSE:688066) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of shares. The program will be valid till 12 months. Valuation Update With 7 Day Price Move • May 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥83.34, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 41x in the Software industry in China. Total returns to shareholders of 72% over the past three years. Price Target Changed • Apr 28
Price target increased by 14% to CN¥115 Up from CN¥101, the current price target is an average from 3 analysts. New target price is 15% above last closing price of CN¥100. Stock is up 66% over the past year. The company is forecast to post earnings per share of CN¥2.25 for next year compared to CN¥1.43 last year. Price Target Changed • Apr 26
Price target increased by 14% to CN¥115 Up from CN¥101, the current price target is an average from 3 analysts. New target price is 25% above last closing price of CN¥92.60. Stock is up 64% over the past year. The company is forecast to post earnings per share of CN¥2.25 for next year compared to CN¥1.43 last year. Reported Earnings • Apr 23
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: CN¥1.43 (up from CN¥1.15 in FY 2021). Revenue: CN¥2.46b (up 67% from FY 2021). Net income: CN¥264.1m (up 32% from FY 2021). Profit margin: 11% (down from 14% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 25% per year. Major Estimate Revision • Mar 04
Consensus revenue estimates increase by 16%, EPS downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from CN¥3.10b to CN¥3.59b. EPS estimate fell from CN¥2.28 to CN¥2.25. Net income forecast to grow 55% next year vs 90% growth forecast for Software industry in China. Consensus price target of CN¥97.41 unchanged from last update. Share price rose 6.4% to CN¥98.20 over the past week. Reported Earnings • Feb 25
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: CN¥1.45 (up from CN¥1.15 in FY 2021). Revenue: CN¥2.48b (up 69% from FY 2021). Net income: CN¥268.6m (up 34% from FY 2021). Profit margin: 11% (down from 14% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) missed analyst estimates by 9.6%. Revenue is forecast to grow 27% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 25% per year. Board Change • Nov 16
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 Yongyi Ma was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 11
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 Yongyi Ma was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 30
Third quarter 2022 earnings released: EPS: CN¥0.35 (vs CN¥0.37 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.35. Revenue: CN¥611.2m (up 63% from 3Q 2021). Net income: CN¥74.5m (up 47% from 3Q 2021). Profit margin: 12% (down from 14% in 3Q 2021). Revenue is forecast to grow 33% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Software industry in China. Price Target Changed • Oct 22
Price target increased to CN¥94.91 Up from CN¥82.53, the current price target is an average from 3 analysts. New target price is 15% above last closing price of CN¥82.64. Stock is up 54% over the past year. The company is forecast to post earnings per share of CN¥1.64 for next year compared to CN¥1.15 last year. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥82.76, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 28x in the Software industry in China. Total returns to shareholders of 116% over the past three years. Reported Earnings • Aug 20
Second quarter 2022 earnings released: EPS: CN¥0.37 (vs CN¥0.24 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.37 (up from CN¥0.24 in 2Q 2021). Revenue: CN¥585.9m (up 60% from 2Q 2021). Net income: CN¥58.1m (up 15% from 2Q 2021). Profit margin: 9.9% (down from 14% in 2Q 2021). Over the next year, revenue is forecast to grow 42%, compared to a 31% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 12% per year. Price Target Changed • May 03
Price target increased to CN¥82.30 Up from CN¥72.38, the current price target is an average from 5 analysts. New target price is 37% above last closing price of CN¥60.18. Stock is up 71% over the past year. The company is forecast to post earnings per share of CN¥1.59 for next year compared to CN¥1.15 last year. Reported Earnings • Apr 28
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: CN¥0.27 loss per share (vs CN¥0.27 loss in 1Q 2021). Revenue: CN¥195.4m (up 179% from 1Q 2021). Net loss: CN¥49.6m (loss widened 10% from 1Q 2021). Revenue exceeded analyst estimates by 18%. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 44%, compared to a 32% growth forecast for the industry in China. Board Change • Apr 27
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. 10 experienced directors. 2 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Yongyi Ma 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. Major Estimate Revision • Apr 16
Consensus revenue estimates increase by 23% The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from CN¥1.77b to CN¥2.19b. EPS estimate increased from CN¥1.52 to CN¥1.60 per share. Net income forecast to grow 50% next year vs 42% growth forecast for Software industry in China. Consensus price target up from CN¥72.38 to CN¥75.36. Share price fell 6.9% to CN¥61.76 over the past week. Reported Earnings • Feb 27
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥1.14 (up from CN¥0.78 in FY 2020). Revenue: CN¥1.47b (up 73% from FY 2020). Net income: CN¥197.5m (up 53% from FY 2020). Profit margin: 14% (down from 15% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 18%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 21%, compared to a 33% growth forecast for the industry in China. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.37 (vs CN¥0.19 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¥374.9m (up 87% from 3Q 2020). Net income: CN¥50.6m (up 62% from 3Q 2020). Profit margin: 14% (down from 16% in 3Q 2020). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment improved over the past week After last week's 27% share price gain to CN¥53.97, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 30x in the Software industry in China. Total returns to shareholders of 20% over the past year. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS CN¥0.24 (vs CN¥0.38 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: CN¥366.5m (up 92% from 2Q 2020). Net income: CN¥50.6m (up 32% from 2Q 2020). Profit margin: 14% (down from 20% in 2Q 2020). The decrease in margin was driven by higher expenses. Duyuru • Aug 27
Piesat Information Technology Co., Ltd. announced that it has received CNY 700.109965 million in funding On August 25, 2021, Piesat Information Technology Co., Ltd. closed the transaction. The company has issued 17,648,348 shares at an issue price of CNY 39.67 per share for gross proceeds of CNY 700,109,965. Price Target Changed • Aug 26
Price target increased to CN¥69.50 Up from CN¥53.90, the current price target is provided by 1 analyst. New target price is 32% above last closing price of CN¥52.56. Stock is up 14% over the past year. Valuation Update With 7 Day Price Move • May 28
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥41.20, the stock trades at a trailing P/E ratio of 56.6x. Average trailing P/E is 50x in the Software industry in China. Total loss to shareholders of 17% over the past year. Reported Earnings • Apr 25
Full year 2020 earnings released: EPS CN¥0.78 (vs CN¥0.59 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥846.7m (up 41% from FY 2019). Net income: CN¥128.8m (up 54% from FY 2019). Profit margin: 15% (up from 14% in FY 2019). The increase in margin was driven by higher revenue. Is New 90 Day High Low • Mar 09
New 90-day low: CN¥38.18 The company is down 7.0% from its price of CN¥41.07 on 09 December 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Software industry, which is down 11% over the same period. Is New 90 Day High Low • Feb 04
New 90-day low: CN¥39.08 The company is down 13% from its price of CN¥44.72 on 06 November 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is down 4.0% over the same period. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥46.21, the stock is trading at a trailing P/E ratio of 74.8x, up from the previous P/E ratio of 64.9x. This compares to an average P/E of 56x in the Software industry in China. Total returns to shareholders over the past year are 4.5%. Is New 90 Day High Low • Dec 15
New 90-day low: CN¥40.55 The company is down 7.0% from its price of CN¥43.52 on 16 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is down 5.0% over the same period. Is New 90 Day High Low • Nov 24
New 90-day low: CN¥41.61 The company is down 11% from its price of CN¥46.90 on 26 August 2020. The Chinese market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is down 9.0% over the same period. Duyuru • Aug 21
Piesat Information Technology Co., Ltd. announced that it expects to receive CNY 700.11 million in funding Piesat Information Technology Co., Ltd. (SHSE:688066) announced that it will issue not more than 49,794,999 A shares gross proceeds of CNY 700,110,000 on August 20, 2020. The transaction will include participation from not more than 35 investors including investment fund management companies, securities companies, financial companies, asset management companies, insurance institutional investors, trust companies, and qualified overseas companies. The issue price is not less than 80% of the median market price of the company's stocks 20 trading days. After the completion of the issuance, the shares issued subscribed shall not be transferred within 6 months from the end of the issuance. The transaction has been approved by the board of directors in the 16th meeting of the second board of directors and is subject to be reviewed and approved by the shareholders' meeting of the listed company, and the Shanghai Stock Exchange and the China Securities Regulatory Commission. Duyuru • Jul 09
Piesat Information Technology Co., Ltd. to Report First Half, 2020 Results on Aug 25, 2020 Piesat Information Technology Co., Ltd. announced that they will report first half, 2020 results on Aug 25, 2020