Hefei Meyer Optoelectronic Technology (SZSE:002690) has released its full-year 2023 financial results, showing a revenue of CN¥2.43 billion, which is a 15% increase from the previous year. Net income also grew by 2% to CN¥744.8 million from the previous year. However, the profit margin decreased to 31% from 35% in FY 2022 due to higher expenses. Earnings per share (EPS) increased to CN¥0.85 from CN¥0.83 in FY 2022.
The company’s performance for the trailing 12-month (TTM) period is shown in the chart above, indicating that revenue was in line with analyst expectations, while EPS missed expectations by 6.4%. Looking forward, revenue is forecasted to grow at an average rate of 13% per year over the next three years, compared to a growth forecast of 19% for the Machinery industry in China.
Despite positive growth prospects, Hefei Meyer Optoelectronic Technology’s shares experienced a decline of 2.8% from a week ago, indicating some challenges in the Chinese Machinery industry. Risk analysis is essential when determining whether this company is potentially over or undervalued. To make an informed decision, it’s necessary to conduct a comprehensive analysis that includes fair value estimates, risks, dividends, insider transactions, and financial health metrics.
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In conclusion, Hefei Meyer Optoelectronic Technology has reported strong full-year results for FY 2023 with revenue growing by 15%, net income increasing by 7%, and EPS reaching CNY0.85 from CNY0.83 in FY
