China Securities Intelligent Financial News BIWIN Storage (688525) disclosed its 2024 performance report on the evening of February 27, and the company achieved operating income of 6.704 billion yuan, a year-on-year increase of 86.71%; The net profit attributable to the parent company was 176 million yuan, a year-on-year turnaround, the non-net profit was 74.0063 million yuan, a loss in the same period last year, the basic earnings per share was 0.39 yuan, and the weighted average return on equity was 8.02%. Based on the closing price on February 27, BIWIN's current price-to-earnings ratio (TTM) is about 189.9 times, the price-to-book ratio (LF) is about 13.61 times, and the price-to-sales ratio (TTM) is about 5.14 times.

Based on the data of this disclosed performance report, the company's price-to-earnings ratio (TTM) chart in recent years is as follows:

According to the data, the company's main business is semiconductor memory, and the main services are advanced packaging and testing services, of which semiconductor memory is divided into embedded storage, PC storage, industrial vehicle specification storage, enterprise-level storage and mobile storage according to different application fields.

In 2024, the company firmly grasped the upward opportunities in the industry, vigorously expanded first-line mobile phone and PC customers at home and abroad, achieved a breakthrough in market and business growth, product sales increased significantly year-on-year, and the company's operating income increased by 86.71% year-on-year.

The company has been deeply engaged in the field of smart wearables for many years, and has built a differentiated competitive advantage, and the company's representative storage products such as ePOP have the advantages of low power consumption, fast response, thinness and compactness, and the products have performed well, and have entered the supply chain system of well-known AI/AR glasses manufacturers at home and abroad such as Meta, Rokid, Thunderbird Innovation, and Shanji, as well as well-known smart wearable manufacturers at home and abroad, such as Google, Xiaotiancai, and Xiaomi. In 2024, the revenue of smart wearable storage products will be about 800 million yuan, a significant year-on-year increase.

According to the data, the company's weighted average return on equity in 2024 will be 8.02%, an increase of 37.01 percentage points from the same period last year.

indicator annotation:

P/E ratio = total market capitalization / net profit. When the company loses money, the P/E ratio is negative, and it is not practical to use the P/E ratio for valuation, and the P/B ratio or P/B ratio is often used as a reference.

Price-to-book ratio = total market capitalization / net assets. The price-to-book ratio valuation method is mostly used for companies with large fluctuations in earnings and relatively stable net assets.

Price-to-sales ratio = total market capitalization / operating income. The price-to-sales ratio method is often used for growing companies that are losing money or making small profits.

The price-to-earnings ratio and price-to-sales ratio in this article are calculated using the TTM method, that is, the data for the 12 months up to the latest financial report (including forecast). The price-to-book ratio is calculated using the LF method, that is, based on the latest financial report data. The quantile calculation range of the three is from the company's listing to the latest announcement date.

When the P/E ratio and price-to-book ratio are negative, the current quantile is not displayed, which will cause the line chart to be interrupted.

(Article source: China Securities Journal, China Securities Network).