Shanghai Weihong Electronic Technology (SZSE:300508) announced its Full Year 2023 Results, revealing that revenue had increased by 14% to CN¥441.3m compared to FY 2022. However, the company’s net income had decreased by 22% to CN¥39.5m, resulting in a profit margin of only 9% (down from 13% in FY 2022). Additionally, Earnings per share (EPS) had declined to CN¥0.36 from CN¥0.46 in the previous year.
Despite missing analyst expectations by only 1.6%, the EPS fell short by a significant margin of 58%. Looking ahead, Shanghai Weihong Electronic Technology is projecting a modest annual revenue growth rate of around 15% on average for the next two years, which is lower than the industry’s forecasted growth rate of 18% for the Chinese Electrical industry as a whole.
The performance of Shanghai Weihong Electronic Technology has been impacted recently, with its shares declining by an astonishing 7.0% in just one week. There are also three warning signs for potential risks associated with investing in this company that investors should be aware of before making any investment decisions.
To get a comprehensive analysis of the company’s valuation and potential risks, investors can access additional information such as fair value estimates, insider transactions, and financial health analysis. It is important to note that Simply Wall St provides this information based on historical data and analyst forecasts and should not be considered financial advice.
Before making any investment decisions, investors must conduct their own research and consider their financial objectives carefully.
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