Shenzhen Mingwah Aohan High Technology Corp Ltd reports 506% Net Income decline in 2016
17/03/2017 • About Shenzhen Mingwah Aohan High Technology Corp Ltd (
$8301) • By InTwits
Shenzhen Mingwah Aohan High Technology Corp Ltd reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts: Shenzhen Mingwah Aohan High Technology Corp Ltd motivates its personel by high Stock Based Compensation (SBC): average SBC/Revenue for FY2012-FY2016 was 0.0%. On average EBITDA Margin was -6.6% for the sames years0.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Shenzhen Mingwah Aohan High Technology Corp Ltd ($8301) key annual financial indicators
| mln. CNY | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 34.408 | 26.303 | 25.708 | 26.308 | 44.246 | 68.2% |
| Gross Profit | 8.988 | 7.011 | 4.189 | 13.890 | | -100.0% |
| SG&A | 7.574 | 13.315 | 10.003 | 12.194 | | -100.0% |
| EBITDA | -6.881 | -3.225 | -4.211 | 3.890 | | -100.0% |
| Net Income | -3.796 | -50.612 | -6.002 | 4.039 | -16.389 | -505.8% |
Balance Sheet
|
|---|
| Cash | 2.075 | 2.445 | 1.659 | 9.914 | | -100.0% |
| Short Term Debt | 6.853 | 6.853 | 6.853 | 6.853 | | -100.0% |
| Long Term Debt | 0.000 | 0.000 | 0.000 | 0.000 | | |
Cash flow
|
|---|
| Capex | 0.048 | 0.479 | 0.005 | 0.019 | | -100.0% |
Ratios
|
|---|
| Revenue growth | -39.1% | -23.6% | -2.3% | 2.3% | 68.2% | |
| EBITDA growth | 3.5% | -53.1% | 30.6% | -192.4% | | |
| Gross Margin | 26.1% | 26.7% | 16.3% | 52.8% | | -52.8% |
| EBITDA Margin | -20.0% | -12.3% | -16.4% | 14.8% | 0.0% | -14.8% |
| Net Income Margin | -11.0% | -192.4% | -23.3% | 15.4% | -37.0% | -52.4% |
| SG&A, % of revenue | 22.0% | 50.6% | 38.9% | 46.4% | | -46.4% |
| CAPEX, % of revenue | 0.1% | 1.8% | 0.0% | 0.1% | | -0.1% |
| ROIC | -44.3% | | | | | 0.0% |
| ROE | -102.4% | | | | | 0.0% |
| Net Debt/EBITDA | | | | -0.8x | | 0.8x |
Revenue and profitability
Shenzhen Mingwah Aohan High Technology Corp Ltd's Revenue jumped on 68.2%.
Net Income marign dropped on 52.4 pp from 15.4% to -37.0% in FY2016.
Appendix 1: Peers in Semiconductors
Below you can find Shenzhen Mingwah Aohan High Technology Corp Ltd benchmarking vs. other companies in Semiconductors industry. It's shown for the period of 5 years for the key financial metrics. Each table has median value for all the companies in the industry together with individual financial data of the top-5 companies in the industry by particular financial metric.
Top companies by Revenue growth, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Phoenitron Holdings Ltd ($8066) | -7.2% | 4.0% | 243.8% | 405.3% | |
| Jun Yang Solar Power Investments Ltd ($397) | -81.0% | 256.8% | 1.1% | 168.9% | |
| Honbridge Holdings Ltd ($8137) | -76.4% | -97.5% | 608.9% | 57.0% | |
| Shanghai Fudan Microelectronics Group Co Ltd ($1385) | 15.5% | 16.0% | 3.3% | 23.2% | |
| Shunfeng International Clean Energy Ltd ($1165) | -46.3% | 44.4% | 275.6% | 22.4% | |
| |
|---|
| Median (22 companies) | -12.2% | 3.8% | 11.7% | -0.6% | 7.4% |
|---|
| Shenzhen Mingwah Aohan High Technology Corp Ltd ($8301) | | -23.6% | -2.3% | 2.3% | 68.2% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Jun Yang Solar Power Investments Ltd ($397) | 87.3% | 79.3% | 53.8% | 73.8% | |
| Intel Corp ($4335) | 62.1% | 59.8% | 63.7% | 62.6% | 60.9% |
| PacMOS Technologies Holdings Ltd ($1010) | 68.8% | 65.7% | 65.7% | 57.5% | |
| Shanghai Fudan Microelectronics Group Co Ltd ($1385) | 47.7% | 48.7% | 47.5% | 52.9% | |
| Hanergy Thin Film Power Group Ltd ($566) | 71.4% | 80.3% | 57.3% | 48.8% | |
| |
|---|
| Median (22 companies) | 22.1% | 23.7% | 32.2% | 31.3% | 34.4% |
|---|
| Shenzhen Mingwah Aohan High Technology Corp Ltd ($8301) | 26.1% | 26.7% | 16.3% | 52.8% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| China Ruifeng Renewable Energy Ltd ($527) | 9.1% | 37.2% | 88.0% | 78.3% | |
| Intel Corp ($4335) | 41.5% | 38.6% | 42.8% | 41.0% | 34.8% |
| Jun Yang Solar Power Investments Ltd ($397) | -218.5% | -16.7% | -9.9% | 35.0% | |
| Semiconductor Manufacturing International Corp ($981) | 34.3% | 35.5% | 34.5% | 33.3% | |
| Hua Hong Semiconductor Ltd ($1347) | 38.5% | 29.7% | 31.5% | 30.0% | 32.6% |
| |
|---|
| Median (22 companies) | 9.3% | 9.5% | 7.1% | 3.9% | 17.1% |
|---|
| Shenzhen Mingwah Aohan High Technology Corp Ltd ($8301) | -20.0% | -12.3% | -16.4% | 14.8% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Heng Xin China Holdings Ltd ($8046) | 16.1% | 4.1% | 11.9% | 110.8% | |
| Jun Yang Solar Power Investments Ltd ($397) | 671.1% | 25.9% | 78.9% | 104.2% | |
| China Ruifeng Renewable Energy Ltd ($527) | 5.5% | 35.9% | 10.6% | 60.9% | |
| Semiconductor Manufacturing International Corp ($981) | 23.5% | 35.1% | 33.2% | 55.0% | |
| Hanergy Thin Film Power Group Ltd ($566) | 1.3% | 2.8% | 4.8% | 32.0% | |
| |
|---|
| Median (22 companies) | 4.7% | 5.5% | 7.0% | 6.8% | 9.3% |
|---|
| Shenzhen Mingwah Aohan High Technology Corp Ltd ($8301) | 0.1% | 1.8% | 0.0% | 0.1% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Shanghai Fudan Microelectronics Group Co Ltd ($1385) | 25.5% | 22.7% | 21.1% | 20.9% | |
| Intel Corp ($4335) | 23.7% | 17.1% | 20.6% | 17.7% | 14.5% |
| Applied Materials Inc ($4336) | 4.0% | 4.6% | 15.9% | 15.2% | 19.1% |
| ASM Pacific Technology Ltd ($522) | 12.3% | 9.2% | 21.9% | 13.7% | 18.0% |
| Hua Hong Semiconductor Ltd ($1347) | 5.3% | 4.8% | 7.8% | 6.7% | 9.1% |
| |
|---|
| Median (22 companies) | -0.8% | 0.1% | 1.3% | -0.1% | 5.1% |
|---|
| Shenzhen Mingwah Aohan High Technology Corp Ltd ($8301) | -44.3% | | | | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Solargiga Energy Holdings Ltd ($757) | | 13.8x | 4.4x | 9.0x | |
| China Ruifeng Renewable Energy Ltd ($527) | 16.4x | 6.9x | 4.9x | 7.3x | |
| Shunfeng International Clean Energy Ltd ($1165) | | 25.8x | 3.4x | 5.7x | |
| Semiconductor Manufacturing International Corp ($981) | 1.3x | 1.0x | 1.0x | 0.5x | |
| Intel Corp ($4335) | 0.2x | 0.4x | 0.5x | 0.3x | 1.0x |
| |
|---|
| Median (11 companies) | 0.2x | 0.4x | 0.2x | 0.2x | -0.0x |
|---|
| Shenzhen Mingwah Aohan High Technology Corp Ltd ($8301) | | | | -0.8x | |
