BOE Technology Group Full Year 2023 Earnings: EPS Beats Expectations, Revenues Lag

BOE Technology Group (SZSE:000725) Full Year 2023 Results

Key Financial Results

• Revenue: CN¥174.5b (down 2.2% from FY 2022).
• Net income: CN¥2.41b (down 65% from FY 2022).
• Profit margin: 1.4% (down from 3.9% in FY 2022).
• EPS: CN¥0.064 (down from CN¥0.18 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

BOE Technology Group EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) exceeded analyst estimates by 6.0%.

The primary driver behind last 12 months revenue was the Display Business segment contributing a total revenue of CN¥147.1b (84% of total revenue). Notably, cost of sales worth CN¥154.9b amounted to 89% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Research & Development (R&D) costs, amounting to CN¥11.3b (63% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of CN¥652.3m. Explore how 000725's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in China.

Performance of the Chinese Electronic industry.

The company's shares are up 6.9% from a week ago.

Risk Analysis

Before you take the next step you should know about the 3 warning signs for BOE Technology Group that we have uncovered.

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