Electronik Wert!Stark unterbewertet! Strong buy!

by the statistics below:





         Share price (7/9/04) = $5.30

         Earnings per share (3/31/04) = $0.39

         Sales increase (3/31/04) = 61%

         Earnings increase (3/31/04) = 236%

         Cash per share (3/31/04) = $1.82

         Book value per share (3/31/04) = $5.07

We are also proud to announce that we are pursuing international certification
for environmental compliance (ISO 14000) and worker safety (ISO 18000). We want
to safeguard the world's precious natural resources and ensure that our 3,200
dedicated and hard working employees operate in a safe and clean environment.





                              Financial Summary



                                       Unaudited                  Audited

                                      Year ended               Year ended

                                  March 31, 2004           March 31, 2003



   Revenue ($M)                           74.707                   46.330

   Gross Profit ($M)                      17.226                   10.802

   Net Income/(Loss) from operation ($M)   2.304                  (0.778)

   Net income/(Loss) ($M)                  2.244                  (1.644)

   EPS($)                                   0.39                   (0.29)

   Weighted Average

   Shares Outstanding (M)                  6.060                    5.599

About Bonso Electronics

Headquartered in Hong Kong, Bonso Electronics designs, develops, manufactures,
assembles and markets a comprehensive line of telecommunications products,
electronic scales and weighing instruments. Bonso products are manufactured in
the People's Republic of China with customers primarily located in North America
and Europe. Company services include product design and prototyping, production
tooling, procurement of components, total quality management, and just-in-time
delivery. For further information, visit the company's website at
www.bonso.com.

The statements contained in this press release which are not historical fact are
forward looking statements that involve certain risks and uncertainties
including, but not limited to, risks associated with the uncertainty of future
financial results, seasonality of sales of certain products, additional
financing requirements, development of new products, government approval
processes, the impact of competitive products or pricing, technological changes,
currency fluctuations, estimates of market growth, the effect of economic
conditions and other uncertainties detailed in the company's filings with the
Securities and Exchange Commission.





    For more information, please contact,

    In US - George OLeary

    Tel: +1-949-760-9611

    Fax: +1-949-760-9607



    In Hong Kong - Cathy Pang

    Tel: +852-2605-5822

    Fax: +852-2691-1724

SOURCE Bonso Electronics International, Inc



CONTACT:          In USA, George O'Leary, +1-949-760-9611, or fax,

                 +1-949-760-9607, or in Hong Kong, Cathy Pang, +852-2605-5822, or fax,

                 +852-2691-1724, both of Bonso Electronics International Inc.



URL:              www.bonso.com

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Copyright (C) 2004 PR Newswire.  All rights reserved.





KEYWORD:          China

INDUSTRY KEYWORD: CPR

                 CSE

                 HEA

                 TLS

SUBJECT CODE:     ERN

Die aktuelle Analyse nach den Zahlen.

 

VectorVest Stock Analysis of Bonso Electrnic as of 7/19/2004

Thank you for requesting an analysis of Bonso Electrnic from VectorVest. The ticker symbol for Bonso Electrnic is BNSO.  BNSO is traded on the NASDAQ - (O)

Analysis Summary

BNSO is undervalued compared to its Price of $6.94 per share, has somewhat below average safety, and is currently rated a Hold.

In-Depth Analysis

Business: BONSO ELECTRONIC INTL INC, (BNSO) designs, develops, produces and sells electronic sensor-based and wireless products. Sensor-based products include bathroom, kitchen, office, jewelry, laboratory, postal and industrial scales.

Price: BNSO closed on 7/19/2004 at $6.94 per share

Value: Value is a measure of a stock's current worth.  BNSO has a current Value of $11.00 per share. Therefore, it is undervalued compared to its Price of $6.94 per share.  Value is computed from forecasted earnings per share, forecasted earnings growth, profitability, interest, and inflation rates. Value increases when earnings, earnings growth rate and profitably increase, and when interest and inflation rates decrease. VectorVest advocates the purchase of undervalued stocks. At some point in time, a stock's Price and Value always will converge.

RV (Relative Value): RV is an indicator of long-term price appreciation potential. BNSO has an RV of 1.51, which is excellent on a scale of 0.00 to 2.00. This indicator is far superior to a simple comparison of Price and Value because it is computed from an analysis of projected price appreciation three years out, AAA Corporate Bond Rates, and risk. RV solves the riddle of whether it is preferable to buy High growth, High P/E stocks, or Low growth, Low P/E stocks. VectorVest favors the purchase of stocks with RV ratings above 1.00.

RS (Relative Safety): RS is an indicator of risk. BNSO has an RS rating of 0.87, which is fair on a scale of 0.00 to 2.00. RS is computed from an analysis of the consistency and predictability of a company's financial performance, debt to equity ratio, sales volume, business longevity, price volatility and other factors. A stock with an RS rating greater than 1.00 is safer and more predictable than the average stock in the VectorVest database. VectorVest favors the purchase of stocks of companies with consistent, predictable financial performance.

RT (Relative Timing): RT is a fast, smart, accurate indicator of a stock's price trend. BNSO has a Relative Timing rating of 0.95, which is fair on a scale of 0.00 to 2.00.  RT is computed from an analysis of the direction, magnitude, and dynamics of a stock's price movements over one day, one week, one quarter and one year time periods. Once a stock's price has established a strong trend, it is expected to continue in that trend for the short-term. If a trend dissipates, RT will gravitate toward 1.00. RT will explode from bottoms, dive from tops, and reflect changes in price momentum. VectorVest favors the purchase of stocks with RT ratings above 1.00.

VST (VST-Vector):  VST is the master indicator for ranking every stock in the VectorVest database. BNSO has a VST rating of 1.12, which is good on a scale of 0.00 to 2.00. VST is computed from the square root of a weighted sum of the squares of RV, RS, and RT. Stocks with the highest VST ratings have the best combinations of Value, Safety and Timing. These are the stocks to own for above average, long-term capital appreciation. VectorVest advocates the purchase of safe, undervalued stocks rising in price. The efficacy of this indicator was demonstrated in a study conducted at the University of Chicago which showed that high VST stocks outperformed the S&P 500 by 583.1% over the six year period from 1996 through 2002.

CI (Comfort Index): CI is an indicator which reflects a stock's ability to resist severe and/or lengthy price declines. BNSO has a CI rating of 0.61, which is poor on a scale of 0.00 to 2.00. CI is quite different from RS in that it is based solely upon a stock's long-term price history. VectorVest advocates the purchase of high CI stocks.

GRT (Earnings Growth Rate): GRT reflects a company's one to three year forecasted earnings growth rate in percent per year. BNSO has a forcasted Earnings Growth Rate of 32.00%, which VectorVest considers to be excellent. GRT is computed from historical, current and forecasted earnings data. It is updated each week for every stock in the VectorVest database. GRT often foretells a stock's future price trend. If a stock's GRT trend is upward, the stock's price will likely rise. If GRT is trending downward, the stock's Price will probably fall. VectorVest favors the purchase of stocks whose GRT is rising and is greater than the sum of current inflation and interest rates, (9.21%).

Recommendation (REC): VectorVest gives a Buy, Sell, Hold recommendation on every stock, every day. BNSO has a Hold recommendation. REC reflects the cumulative effect of all the VectorVest parameters working together. These parameters are designed to help investors buy safe, undervalued stocks rising in price. They also help investors avoid or sell risky, overvalued stocks falling in price. VectorVest recommends that investors buy high VST-Vector, Buy-rated stocks in rising markets.

Stop (Stop-Price): Stop is an indicator of when to sell a long position or cover a short position.  BNSO has a Stop of $6.12 per share. This is $0.82 below BNSO's current closing Price. A stock's Stop is computed from a 13 week moving average of its closing prices, and is fine-tuned according to the stock's fundamentals. High RV, high RS stocks have lower Stops, and low RV, low RS stocks have higher Stops. In the VectorVest system, a stock gets a 'B' or 'H' recommendation if its Price is above its Stop and an 'S' recommendation if its Price is below its Stop.

EPS (Earnings per Share):  EPS stands for leading 12 months Earnings Per Share.  BNSO has a forecasted EPS of $0.42 per share. VectorVest determines this forecast from a combination of recent earnings performance and traditional fiscal and/or calendar year earnings forecasts.

P/E (Price to Earnings Ratio): P/E is a popular measure of stock valuation which shows the dollars required to buy one dollar of earnings.  BNSO has a P/E of 16.52. This ratio may be deemed to be high or low depending upon your frame of reference. The average P/E of all the stocks in the VectorVest database is 30.41. P/E is computed daily using the formula: P/E = Price/EPS.

EY (Earnings Yield): EY reflects earnings per share as a percent of Price. EY is related to P/E via the formula, EY = 100 / (P/E), and may be used in place of P/E as a measure of valuation. EY has the advantages that it is always determinate and can reflect negative earnings. BNSO has an EY of 6.07 percent. This is above the current average of 3.28% for all the stocks in the VectorVest database. EY equals 100 x (EPS/Price).

GPE (Growth to P/E Ratio): GPE is another popular measure of stock valuation. It compares earnings growth rate to P/E ratio. BNSO has a GPE rating of 1.95.  High growth stocks are believed to be able to justify high P/E ratios. A stock is commonly considered to be undervalued when GPE is greater than 1.00 and overvalued when GPE is below 1.00. Unfortunately, this rule of thumb does not take into account the effect of interest rates on P/E ratios. The operative GPE ratio of 1.00 is valid when and only when interest rates equal 10%. With long-term interest rates currently at 5.91%, the operative GPE ratio is 0.35. Therefore, BNSO may be considered to be undervalued.

DIV (Dividend): VectorVest reports annual, regular, cash dividends as indicated by the most recent payments. Special distributions, one-time payments, stock dividends, etc., are not generally included in DIV. BNSO does not pay a dividend.

DY (Dividend Yield): DY reflects earnings per share as a percent of Price. BNSO does not pay a dividend, so it does not have a Dividend Yield rating. . DY equals 100 x (DIV/Price). It is useful to compare DY with EY. If DY is not significantly lower than EY, the dividend payment may be in jeopardy.

DS (Dividend Safety): DS is an indicator of the assurance that regular cash dividends will be declared and paid at current or at higher rates for the foreseeable future. BNSO does not pay a dividend, so it does not have a Dividend Safety rating . Stocks with DS values above 75 typically have RS values well above 1.00 and EY levels that are much higher than DY.

DG (Dividend Growth Rate): Dividend Growth is a subtle yet important indicator of a company's financial performance. It also provides some insight into the board's outlook on the company's ability to increase earnings. BNSO does not pay a dividend, so it does not have a Dividend Growth rating .

YSG (YSG-Vector): YSG is an indicator which combines DIV, DY and DG into a single value, and allows direct comparison of all dividend-paying stocks in the database. BNSO does not pay a dividend, so it does not have a YSG rating . Stocks with the highest YSG values have the best combinations of Dividend Yield, Safety and Growth. These are the stocks to buy for above average current income and long-term growth.

Open: BNSO opened trading at a price of $7.19 per share on 7/19/2004.

High: BNSO traded at a High price of $7.29 per share on 7/19/2004.

Low: BNSO traded at a Low price of $6.80 per share on 7/19/2004

Close: BNSO closed trading at price $6.94 per share on 7/19/2004. (Close is also called Price in the VectorVest system)

Range: Range reflects the difference between the High and Low prices for the day. BNSO traded with a range of $0.49 per share on 7/19/2004.

$Change: BNSO closed down 0.21 from the prior day's closing Price.

%PRC: BNSO's Price changed -2.94% from the prior day's closing price.

Volume: BNSO traded 126,100 shares on 7/19/2004.

AvgVol: AvgVol is the 50 day moving average of daily volume as computed by VectorVest. BNSO has an AvgVol of 144,200 shares traded per day.

%Vol: %Vol reflects the percent change in today's trading volume as compared to the AvgVol. %Vol equals 100 x (Volume/AvgVol). BNSO had a %Vol of -12.55% on 7/19/2004

Sales: BNSO has annual sales of $74,000,000

Sales Growth: Sales Growth is the Sales Growth Rate in percent over the last 12 months. BNSO has a Sales Growth of 98.00% per year. This is excellent. Sales Growth is updated each week for every stock. It is often useful to compare Sales Growth to Earnings Growth to gain an insight into a company's operations.

Sales Per Share (SPS): BNSO has annual sales of $13.58 per share. SPS can be used as a measure of valuation when comparing stocks within an Industry Group.

Price to Sales Ratio (P/S): BNSO has a P/S of 0.51. This ratio is also used as a measure of valuation. Here, too, it is useful when comparing stocks within an Industry Group.

Shares: BNSO has 5,000,000 shares of stock outstanding.

Market Capitalization: BNSO has a Market Capitalization of $38,000,000. Market Capitalization is calculated by multiplying price times shares outstanding.

Industry Group: BNSO has been assigned to the Electronic (Misc Products) Industry Group. VectorVest classifies stocks into over 200 Industry Groups and 40 Business Sectors.

Business Sector: BNSO has been assigned to the Electronic Business Sector. VectorVest classifies stocks into over 200 Industry Groups and 40 Business Sectors.

The basic strategy of VectorVest is to buy Low risk, High reward stocks. We suggest that Prudent investors buy enough High Relative Value, High Relative Safety stocks to keep the overall RV and RS ratings of their portfolios above 1.00. As you do this, you'll find that your risk will go down and your investment performance will improve.

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Bonso Electrnic Electronic (Misc Products)