Shenzhen Fortune Trend Technology (SHSE:688318) has released its full year 2023 financial results, reporting a revenue increase of 35% from the previous fiscal year. Net income saw a significant rise, up 102%, while the profit margin improved to 72%, compared to 48% in FY 2022. Earnings per share (EPS) also grew, reaching CN¥2.38 from CN¥1.18 in FY 2022.
Analysts were impressed with both revenue and earnings surpassing expectations. Revenue exceeded estimates by 6.0%, while EPS outperformed by 1.7%. Looking ahead, the company forecasts a 23% annual revenue growth over the next two years, which is higher than the industry growth forecast for the Software sector in China of just 22%. However, Shenzhen Fortune Trend Technology’s shares experienced a decline of 7.3% compared to a week ago.
Investors should consider not only earnings but also a company’s balance sheet when making investment decisions. Analyzing Shenzhen Fortune Trend Technology’s balance sheet provides insight into its overall financial health. Valuation is another critical aspect that can be complex for investors to navigate, but Simply Wall St offers comprehensive analysis to help determine if the company is potentially over or undervalued.
It is essential to keep in mind that the information provided by Simply Wall St is based on historical data and analyst forecasts using an unbiased methodology. The information presented is not intended as financial advice and investors should conduct their own research before making investment decisions. Simply Wall St aims to provide long-term focused analysis driven by fundamental data, although it may not account for recent price-sensitive company announcements or qualitative factors.
In conclusion, Shenzhen Fortune Trend Technology has shown strong performance in its financial results for FY
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