Weaver Network Technology (SHSE:603039) has released its full-year 2023 financial report, showing a revenue of CN¥2.39 billion, which represents a 2.6% increase from the previous year. However, the company’s net income decreased by 20% to CN¥178.7 million, with a profit margin of 7.5%, down from 9.6% in 2022. Earnings per share (EPS) also dropped to CN¥0.69 from CN¥0.86 in the previous year.
Despite a decrease in net income, Weaver Network Technology’s EPS beat analyst expectations by 29%, while revenue fell short of estimates by 5.8%. Looking ahead, the company is forecasting an average annual revenue growth of 18% over the next three years, slightly lower than the 22% growth forecast for the Software industry in China as a whole.
Weaver Network Technology’s shares have declined by 9.0% compared to a week ago, reflecting the broader decline in the Chinese Software industry as a whole. Before making any investment decisions, investors should be aware of one warning sign associated with this company: Weaver Network Technology has one warning sign that investors should take note of when evaluating its financial health and potential risks.
For a more comprehensive analysis of Weaver Network Technology’s valuation, potential risks, dividends, insider transactions, and financial health, consult our detailed report on this topic.
It’s important to remember that this article by Simply Wall St is based on historical data and analyst forecasts and is not financial advice. Before making any investment decisions, conduct thorough research and consider your own financial situation carefully.
In conclusion, while Weaver Network Technology has reported solid revenue growth for fiscal year 2023 despite declining net income and EPS compared to last year’s results; investors should be cautious about investing in this company due to one warning sign that they should be aware of when evaluating its financial health and potential risks. It is recommended that investors conduct their own research before making any investment decisions based on this article alone or any other information available online or elsewhere.
