Valuation Update With 7 Day Price Move • 11h
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥26.67, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 18x in the Auto Components industry in China. Total returns to shareholders of 175% over the past three years. Announcement • Jul 01
Zhejiang Meili High Technology Co., Ltd. to Report First Half, 2026 Results on Aug 29, 2026 Zhejiang Meili High Technology Co., Ltd. announced that they will report first half, 2026 results on Aug 29, 2026 Buy Or Sell Opportunity • May 29
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.4% to CN¥25.78. The fair value is estimated to be CN¥34.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 156% in 2 years. Earnings are forecast to grow by 173% in the next 2 years. Announcement • May 23
Zhejiang Meili High Technology Co., Ltd. (SZSE:300611) announces an Equity Buyback for CNY 70 million worth of its shares. Zhejiang Meili High Technology Co., Ltd. (SZSE:300611) announces a share repurchase program. Under the program, the company will repurchase up to CNY 70 million worth of its shares. The repurchase price will not exceed CNY 35 per share. The repurchased shares will be used for ESOP or equity incentives. The program will be funded from company's own funds and Self-Financing. The plan is valid for 12 months from the Company's Directorate's Approval Date. New Risk • Apr 29
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 14% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Buy Or Sell Opportunity • Apr 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to CN¥26.25. The fair value is estimated to be CN¥33.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 28% per annum. Earnings are also forecast to grow by 28% per annum over the same time period. Announcement • Apr 10
Zhejiang Meili High Technology Co., Ltd., Annual General Meeting, May 08, 2026 Zhejiang Meili High Technology Co., Ltd., Annual General Meeting, May 08, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Shaoxing, Zhejiang China Reported Earnings • Apr 10
Full year 2025 earnings released: EPS: CN¥0.69 (vs CN¥0.51 in FY 2024) Full year 2025 results: EPS: CN¥0.69 (up from CN¥0.51 in FY 2024). Revenue: CN¥2.01b (up 26% from FY 2024). Net income: CN¥145.9m (up 37% from FY 2024). Profit margin: 7.3% (up from 6.7% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 48% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥25.76, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 20x in the Auto Components industry in China. Total returns to shareholders of 208% over the past three years. Announcement • Mar 31
Zhejiang Meili High Technology Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Zhejiang Meili High Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 Announcement • Dec 31
Zhejiang Meili High Technology Co., Ltd. to Report Fiscal Year 2025 Results on Apr 10, 2026 Zhejiang Meili High Technology Co., Ltd. announced that they will report fiscal year 2025 results on Apr 10, 2026 Reported Earnings • Oct 29
Third quarter 2025 earnings released: EPS: CN¥0.17 (vs CN¥0.15 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.17 (up from CN¥0.15 in 3Q 2024). Revenue: CN¥513.1m (up 26% from 3Q 2024). Net income: CN¥36.4m (up 18% from 3Q 2024). Profit margin: 7.1% (down from 7.6% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 52% per year, which means it is significantly lagging earnings growth. New Risk • Oct 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Oct 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥30.80, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 27x in the Auto Components industry in China. Total returns to shareholders of 262% over the past three years. Announcement • Sep 30
Zhejiang Meili High Technology Co., Ltd. to Report Q3, 2025 Results on Oct 29, 2025 Zhejiang Meili High Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: CN¥0.22 (vs CN¥0.14 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.22 (up from CN¥0.14 in 2Q 2024). Revenue: CN¥483.4m (up 16% from 2Q 2024). Net income: CN¥46.4m (up 52% from 2Q 2024). Profit margin: 9.6% (up from 7.4% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥25.52, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 20x in the Auto Components industry in China. Total returns to shareholders of 94% over the past three years. Announcement • Jul 02
Zhejiang Meili High Technology Co., Ltd. to Report First Half, 2025 Results on Aug 12, 2025 Zhejiang Meili High Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 12, 2025 New Risk • May 30
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.5% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risk Paying a dividend despite having no free cash flows. Declared Dividend • May 12
Dividend increased to CN¥0.12 Dividend of CN¥0.12 is 137% higher than last year. Ex-date: 15th May 2025 Payment date: 15th May 2025 Dividend yield will be 0.4%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (20% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 38% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 28
First quarter 2025 earnings released: EPS: CN¥0.16 (vs CN¥0.08 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.16 (up from CN¥0.08 in 1Q 2024). Revenue: CN¥416.2m (up 38% from 1Q 2024). Net income: CN¥34.0m (up 111% from 1Q 2024). Profit margin: 8.2% (up from 5.3% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 34% After last week's 34% share price decline to CN¥22.34, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 21x in the Auto Components industry in China. Total returns to shareholders of 151% over the past three years. Announcement • Apr 01
Zhejiang Meili High Technology Co., Ltd. Proposes Final Cash Distribution for 2024 Zhejiang Meili High Technology Co., Ltd. announced on 31 March 2025 the final profit distribution proposal for 2024 as follows: Cash dividend/10 shares (tax included): CNY1.20000000. Announcement • Mar 31
Zhejiang Meili High Technology Co., Ltd. to Report Q1, 2025 Results on Apr 26, 2025 Zhejiang Meili High Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 New Risk • Mar 30
New major risk - Revenue and earnings growth Earnings have declined by 1.7% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 1.7% per year over the past 5 years. Announcement • Mar 29
Zhejiang Meili High Technology Co., Ltd., Annual General Meeting, Apr 22, 2025 Zhejiang Meili High Technology Co., Ltd., Annual General Meeting, Apr 22, 2025, at 14:30 China Standard Time. Location: The Company's Meeting Room, Hangzhou, Zhejiang China New Risk • Feb 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Large one-off items impacting financial results. Announcement • Dec 31
Zhejiang Meili High Technology Co., Ltd. to Report Fiscal Year 2024 Results on Mar 29, 2025 Zhejiang Meili High Technology Co., Ltd. announced that they will report fiscal year 2024 results on Mar 29, 2025 Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: CN¥0.15 (vs CN¥0.05 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.15 (up from CN¥0.05 in 3Q 2023). Revenue: CN¥407.0m (up 12% from 3Q 2023). Net income: CN¥30.8m (up 169% from 3Q 2023). Profit margin: 7.6% (up from 3.2% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Zhejiang Meili High Technology Co., Ltd. to Report Q3, 2024 Results on Oct 25, 2024 Zhejiang Meili High Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 25, 2024 Reported Earnings • Aug 27
Second quarter 2024 earnings released: EPS: CN¥0.14 (vs CN¥0.051 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.14 (up from CN¥0.051 in 2Q 2023). Revenue: CN¥416.1m (up 26% from 2Q 2023). Net income: CN¥30.6m (up 205% from 2Q 2023). Profit margin: 7.4% (up from 3.0% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥8.62, the stock trades at a trailing P/E ratio of 44.1x. Average trailing P/E is 26x in the Auto Components industry in China. Total loss to shareholders of 18% over the past three years. Announcement • Jun 29
Zhejiang Meili High Technology Co., Ltd. to Report First Half, 2024 Results on Aug 27, 2024 Zhejiang Meili High Technology Co., Ltd. announced that they will report first half, 2024 results on Aug 27, 2024 Reported Earnings • Apr 29
First quarter 2024 earnings released: EPS: CN¥0.08 (vs CN¥0.04 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.08 (up from CN¥0.04 in 1Q 2023). Revenue: CN¥302.1m (up 29% from 1Q 2023). Net income: CN¥16.1m (up 80% from 1Q 2023). Profit margin: 5.3% (up from 3.8% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Apr 20
Full year 2023 earnings released: EPS: CN¥0.19 (vs CN¥0.20 loss in FY 2022) Full year 2023 results: EPS: CN¥0.19 (up from CN¥0.20 loss in FY 2022). Revenue: CN¥1.38b (up 27% from FY 2022). Net income: CN¥40.7m (up CN¥78.3m from FY 2022). Profit margin: 3.0% (up from net loss in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Announcement • Apr 20
Zhejiang Meili High Technology Co., Ltd., Annual General Meeting, May 10, 2024 Zhejiang Meili High Technology Co., Ltd., Annual General Meeting, May 10, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Hangzhou, Zhejiang China Announcement • Mar 30
Zhejiang Meili High Technology Co., Ltd. to Report Q1, 2024 Results on Apr 29, 2024 Zhejiang Meili High Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 29, 2024 Announcement • Dec 29
Zhejiang Meili High Technology Co., Ltd. to Report Fiscal Year 2023 Results on Apr 23, 2024 Zhejiang Meili High Technology Co., Ltd. announced that they will report fiscal year 2023 results on Apr 23, 2024 Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: CN¥0.05 (vs CN¥0.025 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.05 (up from CN¥0.025 in 3Q 2022). Revenue: CN¥363.0m (up 23% from 3Q 2022). Net income: CN¥11.5m (up 132% from 3Q 2022). Profit margin: 3.2% (up from 1.7% in 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. New Risk • Oct 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 7.9% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.9% average weekly change). Earnings have declined by 38% per year over the past 5 years. Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: CN¥0.051 (vs CN¥0.084 loss in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.051 (up from CN¥0.084 loss in 2Q 2022). Revenue: CN¥331.6m (up 56% from 2Q 2022). Net income: CN¥10.0m (up CN¥24.0m from 2Q 2022). Profit margin: 3.0% (up from net loss in 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Announcement • Jul 04
Zhejiang Meili High Technology Co., Ltd. Announces Implementation of Final Cash Dividend (A Shares) for 2022, Payable on 07 July 2023 Zhejiang Meili High Technology Co., Ltd. announced Implementation of cash dividend of CNY 0.30067300 per 10 A shares (tax included) for 2022. Record date is 06 July 2023. Ex-date is 07 July 2023. Payment date is 07 July 2023. Announcement • May 24
Zhejiang Meili High Technology Co., Ltd. Approves Cash Dividend for the Year 2022 Zhejiang Meili High Technology Co., Ltd. announced that at its AGM held on May 19, 2023, shareholders approved the cash dividend of CNY 0.30 per 10 shares (tax included) for the year 2022. Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: CN¥0.04 (vs CN¥0.01 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.04 (up from CN¥0.01 in 1Q 2022). Revenue: CN¥234.1m (down 7.2% from 1Q 2022). Net income: CN¥8.96m (up 396% from 1Q 2022). Profit margin: 3.8% (up from 0.7% in 1Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Board Change • Jan 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Independent Director Zhu Jun Zhang was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 26
Zhejiang Meili High Technology Co., Ltd. Approves Management Appointments Zhejiang Meili High Technology Co., Ltd. at its Extraordinary General Meeting held on 22 December 2022, approved election of Zhang Zhujun and Lou Chunhui as non-independent directors; election of Ma Keyi as independent director and election of Zhu Mingyong and Wang Chuan as non-employee supervisors. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Huaxin Peng was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 25
Third quarter 2022 earnings released: EPS: CN¥0.025 (vs CN¥0.05 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.025 (down from CN¥0.05 in 3Q 2021). Revenue: CN¥296.2m (up 66% from 3Q 2021). Net income: CN¥4.95m (down 43% from 3Q 2021). Profit margin: 1.7% (down from 4.9% in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Aug 29
Second quarter 2022 earnings released: CN¥0.084 loss per share (vs CN¥0.04 profit in 2Q 2021) Second quarter 2022 results: CN¥0.084 loss per share (down from CN¥0.04 profit in 2Q 2021). Revenue: CN¥213.3m (up 11% from 2Q 2021). Net loss: CN¥14.0m (down 294% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 5% per year. Announcement • Jul 09
Zhejiang Meili High Technology Co., Ltd. Announces Final Profit Distribution on A Shares for the Year 2021, Payable on July 15, 2022 Zhejiang Meili High Technology Co., Ltd. announced final profit distribution on A shares (Tax included) is CNY 0.49580800 per 10 shares for the year 2021. Record date is July 14, 2022. Ex-date is July 15, 2022. The dividend will be payable on July 15, 2022. Announcement • May 24
Zhejiang Meili High Technology Co., Ltd. Approves Cash Dividend for the Year 2021 Zhejiang Meili High Technology Co., Ltd. announced that at its Annual General Meeting held on 20 May 2022, approved cash dividend/10 shares (tax included) of CNY 0.50000000 for the year 2021. Reported Earnings • Apr 27
First quarter 2022 earnings released: EPS: CN¥0.01 (vs CN¥0.07 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.01 (down from CN¥0.07 in 1Q 2021). Revenue: CN¥252.2m (up 39% from 1Q 2021). Net income: CN¥1.81m (down 85% from 1Q 2021). Profit margin: 0.7% (down from 6.8% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 11 experienced directors. No highly experienced directors. 5 independent directors (7 non-independent directors). Independent Director Hua Xin Peng was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥10.05, the stock trades at a trailing P/E ratio of 48.1x. Average trailing P/E is 40x in the Auto Components industry in China. Total returns to shareholders of 21% over the past three years. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥11.99, the stock trades at a trailing P/E ratio of 57.4x. Average trailing P/E is 40x in the Auto Components industry in China. Total returns to shareholders of 37% over the past three years. Reported Earnings • Oct 26
Third quarter 2021 earnings released: EPS CN¥0.05 (vs CN¥0.09 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥178.3m (down 2.4% from 3Q 2020). Net income: CN¥8.74m (down 46% from 3Q 2020). Profit margin: 4.9% (down from 8.8% in 3Q 2020). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Aug 22
Second quarter 2021 earnings released: EPS CN¥0.04 (vs CN¥0.072 in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥191.9m (up 30% from 2Q 2020). Net income: CN¥7.21m (down 56% from 2Q 2020). Profit margin: 3.8% (down from 11% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥10.93, the stock trades at a trailing P/E ratio of 38.3x. Average trailing P/E is 31x in the Auto Components industry in China. Total returns to shareholders of 6.6% over the past three years. Announcement • May 21
Zhejiang Meili High Technology Co., Ltd. Approves Cash Dividend for the Year 2020 Zhejiang Meili High Technology Co., Ltd. announced at the AGM held on May 18, 2021 that the company approved the profit distribution for 2020 final cash dividend/10 shares (tax included) of CNY 0.60000000. Announcement • Apr 27
Zhejiang Meili High Technology Co., Ltd. Proposes Cash Dividend for the Year 2020 Zhejiang Meili High Technology Co., Ltd. announced on 26 April 2021 the profit distribution proposal for 2020 final cash dividend/10 shares (tax included) of CNY 0.60000000. Reported Earnings • Apr 25
First quarter 2021 earnings released: EPS CN¥0.07 (vs CN¥0.01 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥181.1m (up 76% from 1Q 2020). Net income: CN¥12.2m (up CN¥13.4m from 1Q 2020). Profit margin: 6.8% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 8% per year. Announcement • Feb 10
Zhejiang Meili High Technology Co., Ltd. Announces Board Changes Zhejiang Meili High Technology Co., Ltd. at the Extraordinary General Meeting of 2021 on 08 February 2021 approved Sun Mingcheng and Peng Huaxin as directors. Is New 90 Day High Low • Feb 04
New 90-day low: CN¥8.26 The company is down 38% from its price of CN¥13.42 on 06 November 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is down 3.0% over the same period. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥9.85, the stock is trading at a trailing P/E ratio of 64x, up from the previous P/E ratio of 54.3x. This compares to an average P/E of 35x in the Auto Components industry in China. Total return to shareholders over the past three years is a loss of 30%. Is New 90 Day High Low • Jan 13
New 90-day low: CN¥8.33 The company is down 31% from its price of CN¥12.03 on 15 October 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 4.0% over the same period. Is New 90 Day High Low • Nov 02
New 90-day high: CN¥15.36 The company is up 53% from its price of CN¥10.02 on 04 August 2020. The Chinese market is down 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 6.0% over the same period. Reported Earnings • Oct 28
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥25.9m, up 54% from the prior year. Total revenue was CN¥631.8m over the last 12 months, up 13% from the prior year. Announcement • Oct 20
Zhejiang Meili High Technology Co., Ltd. to Report Q3, 2020 Results on Oct 27, 2020 Zhejiang Meili High Technology Co., Ltd. announced that they will report Q3, 2020 results on Oct 27, 2020 Is New 90 Day High Low • Oct 15
New 90-day high: CN¥12.03 The company is up 17% from its price of CN¥10.28 on 17 July 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Auto Components industry, which is up 18% over the same period. Announcement • Jul 18
Zhejiang Meili High Technology Co., Ltd. to Report First Half, 2020 Results on Aug 07, 2020 Zhejiang Meili High Technology Co., Ltd. announced that they will report first half, 2020 results on Aug 07, 2020