Piesat Information Technologi (SHSE:688066) has announced full year 2023 results with key financial data. The company reported revenue of CN¥1.82b, down 26% from the previous year. The net loss for the year was CN¥374.2 million, a significant decline from a profit of CN¥264.1 million in fiscal 2022. Earnings per share also narrowed to a loss of CN¥1.63 per share from a profit of CN¥1.02 in the previous year. .
Despite these results, Piesat Information Technology’s revenue and earnings exceeded analysts’ expectations, with revenue falling 43%. The company’s shares fell by 11 percent compared to the previous week. Looking ahead, forecasts suggest average annual revenue growth of 40% over the next three years, exceeding the 21% growth forecast for China’s software industry.
It is important to note that there are also 2 warning signs for Piesat Information Technology that investors should consider. Valuation is still complex, but in-depth analysis can provide insight into whether a company is overvalued or undervalued. Readers are encouraged to reach out to provide feedback or express concerns about the content.
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