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Sinomag Technology (300835.SZ): Currently, gallium nitride devices are not used in micro inverters.
Sinomag Technology (300835.SZ) stated on the investor interaction platform on July 17th that the company will continue to pay attention to the development and application of new technologies, explore their specific application and synergy in its own business field. Currently, gallium nitride devices are not used in microinverters products.
Sinomag Technology (300835.SZ): The integrated molding inductor business is currently in the customer development and product certification stage.
Sinomag Technology (300835.SZ) stated on its investor interaction platform on July 15th that the company's products are widely used in household appliances including air conditioners, refrigerators, and washing machines. The company's integrated inductor business is currently in the stage of customer development and product certification, and products are developed according to customer needs. There have been changes in revenue composition in the first quarter compared with the same period last year, comprehensive profitability indicators are improving, and the company is committed to improving operational quality and profitability, promoting higher quality and more sustainable development.
Sinomag Technology (300835.SZ) plans to gradually transfer the production capacity of Longci Electronic Jinshan Factory to production bases in Lujiang and Jinzhai, Anhui.
On July 12th, Gelonhui announced that according to the planning layout of Lvxang Town, Jinshan District, Shanghai, the government has recovered the land use right of 50 acres of Longci Electronic Jinshan factory. The company disclosed the details on the JRJ News Network on December 27th, 2023, which can be found in the "Announcement on the Signing of Relocation Compensation Agreement by Wholly-owned Subsidiaries", although the business operations of Longci Electronic on the remaining land have not been affected, the future development space is limited. Currently, the company has formed advanced production capacity of more than 0.04 million tons in its permanent magnet ferrite production bases in Anhui Province and Quang Ninh Province, Vietnam, and other production bases.
Steering Clear Of Sinomag Technology With One Better Dividend Stock Option
Sinomag Technology (300835.SZ) plans to distribute 2 yuan per 10 shares with ex-rights and ex-dividends on July 9.
Sinomag Technology (300835.SZ) announced that the proposed equity distribution for 2023 is to distribute 2 yuan RMB cash (including tax) to all shareholders for every 10 shares. The ex-dividend date is July 9, 2024.
Earnings Not Telling The Story For Sinomag Technology Co., Ltd. (SZSE:300835)
When close to half the companies in China have price-to-earnings ratios (or "P/E's") below 28x, you may consider Sinomag Technology Co., Ltd. (SZSE:300835) as a stock to potentially avoid with its 38.
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