Valuation Update With 7 Day Price Move • May 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥37.99, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 36x in the Electronic industry in China. Total returns to shareholders of 247% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥30.57 per share. Buy Or Sell Opportunity • May 11
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 40% to CN¥37.74. The fair value is estimated to be CN¥30.70, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to grow by 19% per annum. Earnings are also forecast to grow by 22% per annum over the same time period. Price Target Changed • Apr 23
Price target increased by 8.9% to CN¥32.93 Up from CN¥30.24, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of CN¥33.48. Stock is up 81% over the past year. The company is forecast to post earnings per share of CN¥1.07 for next year compared to CN¥0.86 last year. Duyuru • Apr 20
Zhejiang Crystal-Optech Co., Ltd, Annual General Meeting, May 21, 2026 Zhejiang Crystal-Optech Co., Ltd, Annual General Meeting, May 21, 2026, at 13:30 China Standard Time. Location: No. 2198, East Section of Kaifa Avenue, Jiaojiang District, Taizhou, Zhejiang China Reported Earnings • Apr 18
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.86 (up from CN¥0.75 in FY 2024). Revenue: CN¥6.93b (up 10% from FY 2024). Net income: CN¥1.17b (up 14% from FY 2024). Profit margin: 17% (in line with FY 2024). Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) also missed analyst estimates by 2.5%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 31% per year and the company’s share price has also increased by 31% per year. New Risk • Apr 08
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 8.2% 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. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (93% cash payout ratio). Share price has been volatile over the past 3 months (8.2% average weekly change). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥25.62, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 30x in the Electronic industry in China. Total returns to shareholders of 96% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥33.93 per share. Duyuru • Mar 31
Zhejiang Crystal-Optech Co., Ltd to Report Q1, 2026 Results on Apr 23, 2026 Zhejiang Crystal-Optech Co., Ltd announced that they will report Q1, 2026 results on Apr 23, 2026 Buy Or Sell Opportunity • Mar 03
Now 22% undervalued Over the last 90 days, the stock has risen 7.4% to CN¥26.56. The fair value is estimated to be CN¥34.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥27.02, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 33x in the Electronic industry in China. Total returns to shareholders of 116% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥33.70 per share. Buy Or Sell Opportunity • Feb 06
Now 22% undervalued Over the last 90 days, the stock has risen 8.0% to CN¥26.55. The fair value is estimated to be CN¥33.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. Buy Or Sell Opportunity • Jan 13
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.3% to CN¥25.22. The fair value is estimated to be CN¥32.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are also forecast to grow by 17% per annum over the same time period. Duyuru • Dec 31
Zhejiang Crystal-Optech Co., Ltd to Report Fiscal Year 2025 Results on Apr 18, 2026 Zhejiang Crystal-Optech Co., Ltd announced that they will report fiscal year 2025 results on Apr 18, 2026 Buy Or Sell Opportunity • Nov 21
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to CN¥22.48. The fair value is estimated to be CN¥28.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. Major Estimate Revision • Nov 03
Consensus EPS estimates fall by 10% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from CN¥0.88 to CN¥0.79 per share. Revenue forecast steady at CN¥7.28b. Net income forecast to grow 21% next year vs 48% growth forecast for Electronic industry in China. Consensus price target broadly unchanged at CN¥30.24. Share price was steady at CN¥25.17 over the past week. Reported Earnings • Oct 28
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: CN¥0.35 (up from CN¥0.32 in 3Q 2024). Revenue: CN¥2.10b (up 2.3% from 3Q 2024). Net income: CN¥482.6m (up 11% from 3Q 2024). Profit margin: 23% (up from 21% in 3Q 2024). Revenue missed analyst estimates by 8.3%. Earnings per share (EPS) also missed analyst estimates by 1.7%. Revenue is forecast to grow 16% 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 increased by 31% per year whereas the company’s share price has increased by 27% per year. Buy Or Sell Opportunity • Oct 14
Now 21% undervalued Over the last 90 days, the stock has risen 24% to CN¥24.51. The fair value is estimated to be CN¥30.96, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 30%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. Duyuru • Sep 30
Zhejiang Crystal-Optech Co., Ltd to Report Q3, 2025 Results on Oct 28, 2025 Zhejiang Crystal-Optech Co., Ltd announced that they will report Q3, 2025 results on Oct 28, 2025 Buy Or Sell Opportunity • Sep 03
Now 20% undervalued Over the last 90 days, the stock has risen 31% to CN¥25.43. The fair value is estimated to be CN¥31.97, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 30%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. Price Target Changed • Aug 31
Price target increased by 8.4% to CN¥27.65 Up from CN¥25.50, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of CN¥27.82. Stock is up 56% over the past year. The company is forecast to post earnings per share of CN¥0.84 for next year compared to CN¥0.75 last year. Reported Earnings • Aug 28
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: CN¥0.21 (up from CN¥0.18 in 2Q 2024). Revenue: CN¥1.54b (up 17% from 2Q 2024). Net income: CN¥279.8m (up 13% from 2Q 2024). Profit margin: 18% (in line with 2Q 2024). Revenue exceeded analyst estimates by 4.3%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 15% 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 30% per year whereas the company’s share price has increased by 29% per year. Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥25.37, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 32x in the Electronic industry in China. Total returns to shareholders of 98% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥30.05 per share. Duyuru • Jul 02
Zhejiang Crystal-Optech Co., Ltd to Report First Half, 2025 Results on Aug 20, 2025 Zhejiang Crystal-Optech Co., Ltd announced that they will report first half, 2025 results on Aug 20, 2025 Reported Earnings • Apr 11
Full year 2024 earnings: EPS in line with expectations, revenues disappoint Full year 2024 results: EPS: CN¥0.75 (up from CN¥0.43 in FY 2023). Revenue: CN¥6.28b (up 24% from FY 2023). Net income: CN¥1.03b (up 72% from FY 2023). Profit margin: 16% (up from 12% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 17% 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 22% per year, which means it is significantly lagging earnings growth. Duyuru • Apr 11
Zhejiang Crystal-Optech Co., Ltd Proposes Final Cash Dividend for 2024 Zhejiang Crystal-Optech Co. Ltd. announced on 10 April 2025 the profit distribution proposal for 2024 as follows: Cash dividend per 10 shares (tax included) of CNY 2.00000000. Duyuru • Apr 10
Zhejiang Crystal-Optech Co., Ltd, Annual General Meeting, May 08, 2025 Zhejiang Crystal-Optech Co., Ltd, Annual General Meeting, May 08, 2025, at 14:00 China Standard Time. Location: No. 2198, East Section of Kaifa Avenue, Jiaojiang District, Taizhou, Zhejiang China Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥18.59, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 27x in the Electronic industry in China. Total returns to shareholders of 100% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥13.19 per share. Duyuru • Mar 31
Zhejiang Crystal-Optech Co., Ltd to Report Q1, 2025 Results on Apr 25, 2025 Zhejiang Crystal-Optech Co., Ltd announced that they will report Q1, 2025 results on Apr 25, 2025 Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥26.13, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 30x in the Electronic industry in China. Total returns to shareholders of 98% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥15.69 per share. Buy Or Sell Opportunity • Jan 14
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to CN¥20.55. The fair value is estimated to be CN¥16.55, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 21%. Revenue is forecast to grow by 33% in 2 years. Earnings are forecast to grow by 32% in the next 2 years. Duyuru • Dec 31
Zhejiang Crystal-Optech Co., Ltd to Report Fiscal Year 2024 Results on Apr 10, 2025 Zhejiang Crystal-Optech Co., Ltd announced that they will report fiscal year 2024 results on Apr 10, 2025 Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥22.28, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 24x in the Electronic industry in China. Total returns to shareholders of 44% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥13.13 per share. Price Target Changed • Nov 02
Price target increased by 8.2% to CN¥22.61 Up from CN¥20.89, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of CN¥22.28. Stock is up 62% over the past year. The company is forecast to post earnings per share of CN¥0.75 for next year compared to CN¥0.43 last year. Buy Or Sell Opportunity • Oct 18
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 1.1% to CN¥19.12. The fair value is estimated to be CN¥15.26, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 36% in 2 years. Earnings are forecast to grow by 35% in the next 2 years. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥18.93, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 21x in the Electronic industry in China. Total returns to shareholders of 38% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥15.32 per share. Buy Or Sell Opportunity • Sep 30
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 7.8% to CN¥18.93. The fair value is estimated to be CN¥15.32, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 37% in 2 years. Earnings are forecast to grow by 32% in the next 2 years. Duyuru • Sep 30
Zhejiang Crystal-Optech Co., Ltd to Report Q3, 2024 Results on Oct 29, 2024 Zhejiang Crystal-Optech Co., Ltd announced that they will report Q3, 2024 results on Oct 29, 2024 Duyuru • Sep 11
Zhejiang Crystal-Optech Co., Ltd Approves Interim Dividend for the Year 2024 Zhejiang Crystal-Optech Co. Ltd. approved at its EGM held on 09 September 2024 the interim cash dividend/10 shares (tax included) of CNY 1.00000000 for the year 2024. New Risk • Sep 02
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 7.0% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.0% average weekly change). Large one-off items impacting financial results. Duyuru • Aug 24
Zhejiang Crystal-Optech Co., Ltd Proposes Interim Dividend for the First Half of 2024 Zhejiang Crystal-Optech Co. Ltd. proposed interim dividend of CNY 1.00 per 10 shares for the first half of 2024. New Risk • Aug 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Aug 22
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: EPS: CN¥0.18 (up from CN¥0.06 in 2Q 2023). Revenue: CN¥1.31b (up 34% from 2Q 2023). Net income: CN¥248.1m (up 193% from 2Q 2023). Profit margin: 19% (up from 8.7% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 10%. Earnings per share (EPS) exceeded analyst estimates by 16%. Revenue is forecast to grow 15% 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 increased by 13% per year whereas the company’s share price has increased by 9% per year. Price Target Changed • Jul 15
Price target increased by 8.7% to CN¥19.68 Up from CN¥18.10, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of CN¥20.12. Stock is up 68% over the past year. The company is forecast to post earnings per share of CN¥0.62 for next year compared to CN¥0.43 last year. Price Target Changed • Jul 12
Price target increased by 9.8% to CN¥18.97 Up from CN¥17.28, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of CN¥19.53. Stock is up 64% over the past year. The company is forecast to post earnings per share of CN¥0.59 for next year compared to CN¥0.43 last year. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥20.60, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 22x in the Electronic industry in China. Total returns to shareholders of 52% over the past three years. Duyuru • Jun 29
Zhejiang Crystal-Optech Co., Ltd to Report First Half, 2024 Results on Aug 22, 2024 Zhejiang Crystal-Optech Co., Ltd announced that they will report first half, 2024 results on Aug 22, 2024 Reported Earnings • Apr 30
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: CN¥0.13 (up from CN¥0.07 in 1Q 2023). Revenue: CN¥1.35b (up 53% from 1Q 2023). Net income: CN¥178.6m (up 93% from 1Q 2023). Profit margin: 13% (up from 11% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 24%. Revenue is forecast to grow 17% 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 increased by 7% per year and the company’s share price has also increased by 7% per year. Duyuru • Mar 30
Zhejiang Crystal-Optech Co., Ltd to Report Q1, 2024 Results on Apr 30, 2024 Zhejiang Crystal-Optech Co., Ltd announced that they will report Q1, 2024 results on Apr 30, 2024 New Risk • Mar 28
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (334% cash payout ratio). Large one-off items impacting financial results. Price Target Changed • Mar 23
Price target increased by 11% to CN¥16.14 Up from CN¥14.53, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of CN¥15.55. Stock is up 11% over the past year. The company is forecast to post earnings per share of CN¥0.56 for next year compared to CN¥0.43 last year. Duyuru • Mar 23
Zhejiang Crystal-Optech Co., Ltd, Annual General Meeting, Apr 11, 2024 Zhejiang Crystal-Optech Co., Ltd, Annual General Meeting, Apr 11, 2024, at 14:00 China Standard Time. Location: No. 2198, East Section of Kaifa Avenue, Jiaojiang District, Taizhou, Zhejiang China Agenda: To consider2023 work report of the board of directors; to consider 2023 work report of the supervisory committee; to consider 2023 annual accounts report; to consider 2023 annual report and its summary; to consider 2023 profit distribution plan; to consider special report on the use of raised funds in 2023; to consider 2024 remuneration plan for directors; to consider reappointment of audit firm; to consider amendments to the work system for independent directors; and to consider other matters. Reported Earnings • Mar 22
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.43 (up from CN¥0.42 in FY 2022). Revenue: CN¥5.08b (up 16% from FY 2022). Net income: CN¥600.2m (up 4.2% from FY 2022). Profit margin: 12% (down from 13% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 6.7%. Earnings per share (EPS) also missed analyst estimates by 1.6%. Revenue is forecast to grow 21% 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 4% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥14.16, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 23x in the Electronic industry in China. Total returns to shareholders of 38% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥16.54 per share. Duyuru • Feb 08
Zhejiang Crystal-Optech Co., Ltd (SZSE:002273) announces an Equity Buyback for CNY 200 million worth of its shares. Zhejiang Crystal-Optech Co., Ltd (SZSE:002273) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 200 million worth of its own shares. The shares will be repurchased at a price not more than CNY 14 per share. The shares will be repurchased for employee stock ownership plans or equity incentives. The plan will be valid for 6 months. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥9.48, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 17x in the Electronic industry in China. Total loss to shareholders of 2.8% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥15.25 per share. Buying Opportunity • Jan 08
Now 20% undervalued Over the last 90 days, the stock is up 5.8%. The fair value is estimated to be CN¥15.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 61% in 2 years. Earnings is forecast to grow by 70% in the next 2 years. Duyuru • Dec 30
Zhejiang Crystal-Optech Co., Ltd to Report Fiscal Year 2023 Results on Mar 22, 2024 Zhejiang Crystal-Optech Co., Ltd announced that they will report fiscal year 2023 results on Mar 22, 2024 Buying Opportunity • Dec 05
Now 22% undervalued Over the last 90 days, the stock is up 14%. The fair value is estimated to be CN¥15.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 62% in 2 years. Earnings is forecast to grow by 74% in the next 2 years. New Risk • Nov 07
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 45% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Oct 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥14.20, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 20x in the Electronic industry in China. Total returns to shareholders of 20% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥15.72 per share. Reported Earnings • Oct 21
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: EPS: CN¥0.17 (up from CN¥0.17 in 3Q 2022). Revenue: CN¥1.70b (up 29% from 3Q 2022). Net income: CN¥260.4m (up 11% from 3Q 2022). Profit margin: 15% (down from 18% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) exceeded analyst estimates by 3.7%. 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 2% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Duyuru • Sep 30
Zhejiang Crystal-Optech Co., Ltd to Report Q3, 2023 Results on Oct 28, 2023 Zhejiang Crystal-Optech Co., Ltd announced that they will report Q3, 2023 results at 3:00 PM, China Standard Time on Oct 28, 2023 Price Target Changed • Sep 02
Price target decreased by 10% to CN¥15.18 Down from CN¥16.91, the current price target is an average from 6 analysts. New target price is 43% above last closing price of CN¥10.64. Stock is down 21% over the past year. The company is forecast to post earnings per share of CN¥0.52 for next year compared to CN¥0.42 last year. Price Target Changed • Aug 31
Price target decreased by 8.9% to CN¥15.77 Down from CN¥17.31, the current price target is an average from 5 analysts. New target price is 49% above last closing price of CN¥10.60. Stock is down 18% over the past year. The company is forecast to post earnings per share of CN¥0.49 for next year compared to CN¥0.42 last year. Reported Earnings • Aug 30
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: EPS: CN¥0.06 (down from CN¥0.10 in 2Q 2022). Revenue: CN¥976.9m (up 4.1% from 2Q 2022). Net income: CN¥84.6m (down 36% from 2Q 2022). Profit margin: 8.7% (down from 14% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) missed analyst estimates by 33%. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Duyuru • May 10
Zhejiang Crystal-Optech Co., Ltd Announces Final Dividend on A Shares for the Year 2022, Payable on May 16, 2023 Zhejiang Crystal-Optech Co. Ltd. announced final cash dividend/10 shares (tax included) of CNY 2.00000000 on A shares for the year 2022. Record date is May 15, 2023. Ex-date is May 16, 2023. Payment date is May 16, 2023. Reported Earnings • Apr 12
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥0.42 (up from CN¥0.34 in FY 2021). Revenue: CN¥4.38b (up 15% from FY 2021). Net income: CN¥576.2m (up 30% from FY 2021). Profit margin: 13% (up from 12% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.0%. Earnings per share (EPS) also missed analyst estimates by 1.5%. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has remained flat. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Independent Director Zhenyu Wang was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Oct 26
Zhejiang Crystal-Optech Co., Ltd (SZSE:002273) announces an Equity Buyback for CNY 150 million worth of its shares. Zhejiang Crystal-Optech Co., Ltd (SZSE:002273) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 150 million worth of its own shares. The shares will be repurchased at a price not more than CNY 14 per share. The shares will be repurchased for employee stock ownership plans or equity incentives. The plan will be valid for 6 months. Reported Earnings • Oct 25
Third quarter 2022 earnings: EPS exceeds analyst expectations Third quarter 2022 results: EPS: CN¥0.17 (up from CN¥0.14 in 3Q 2021). Revenue: CN¥1.32b (up 16% from 3Q 2021). Net income: CN¥234.7m (up 31% from 3Q 2021). Profit margin: 18% (up from 16% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 22% 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 5% per year whereas the company’s share price has fallen by 7% per year. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥11.80, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 20x in the Electronic industry in China. Total loss to shareholders of 13% over the past three years. Price Target Changed • Aug 19
Price target increased to CN¥15.32 Up from CN¥13.95, the current price target is an average from 3 analysts. New target price is 6.3% above last closing price of CN¥14.41. Stock is up 6.0% over the past year. The company is forecast to post earnings per share of CN¥0.40 for next year compared to CN¥0.34 last year. Reported Earnings • Aug 18
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: EPS: CN¥0.10 (up from CN¥0.061 in 2Q 2021). Revenue: CN¥938.0m (up 9.8% from 2Q 2021). Net income: CN¥131.4m (up 67% from 2Q 2021). Profit margin: 14% (up from 9.2% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 15%. Earnings per share (EPS) exceeded analyst estimates by 67%. Over the next year, revenue is forecast to grow 32%, compared to a 26% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Price Target Changed • Apr 27
Price target decreased to CN¥13.18 Down from CN¥16.03, the current price target is an average from 2 analysts. New target price is 46% above last closing price of CN¥9.05. Stock is down 24% over the past year. The company is forecast to post earnings per share of CN¥0.41 for next year compared to CN¥0.34 last year. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Independent Director Zhenyu Wang was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Apr 12
Zhejiang Crystal-Optech Co. Ltd Approves the Cash Dividend for the Year 2021 Zhejiang Crystal-Optech Co. Ltd. at its AGM held on April 8, 2022, approved the cash dividend/10 shares (tax included): CNY 2.00000000 for the year 2021. Price Target Changed • Mar 17
Price target decreased to CN¥14.35 Down from CN¥16.03, the current price target is an average from 2 analysts. New target price is 25% above last closing price of CN¥11.52. Stock is up 11% over the past year. The company is forecast to post earnings per share of CN¥0.43 for next year compared to CN¥0.34 last year. Reported Earnings • Mar 10
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥0.34 (down from CN¥0.37 in FY 2020). Revenue: CN¥3.81b (up 18% from FY 2020). Net income: CN¥442.2m (flat on FY 2020). Profit margin: 12% (down from 14% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 21%. Over the next year, revenue is forecast to grow 39%, compared to a 26% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Duyuru • Feb 12
Zhejiang Crystal-Optech Co., Ltd (SZSE:002273) announces an Equity Buyback for CNY 200 million worth of its shares. Zhejiang Crystal-Optech Co., Ltd (SZSE:002273) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 200 million worth of its own shr The shares will be repurchased at a price not more than CNY 15.5 per share. The shares will be repurchased for employee stock ownership plans or equity incentives. The plan will be valid for 6 months. Price Target Changed • Dec 27
Price target increased to CN¥17.37 Up from CN¥16.03, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of CN¥17.75. Stock is up 63% over the past year. The company is forecast to post earnings per share of CN¥0.41 for next year compared to CN¥0.37 last year. Reported Earnings • Oct 23
Third quarter 2021 earnings released: EPS CN¥0.14 (vs CN¥0.11 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: CN¥1.13b (up 27% from 3Q 2020). Net income: CN¥178.6m (up 35% from 3Q 2020). Profit margin: 16% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. 
