Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥23.71, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 18x in the Auto Components industry in China. Total loss to shareholders of 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥14.22 per share. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥26.30, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 20x in the Auto Components industry in China. Total loss to shareholders of 28% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥14.22 per share. Price Target Changed • Apr 29
Price target decreased by 7.3% to CN¥60.76 Down from CN¥65.57, the current price target is an average from 7 analysts. New target price is 32% above last closing price of CN¥46.14. Stock is down 20% over the past year. The company is forecast to post earnings per share of CN¥2.58 for next year compared to CN¥2.16 last year. Reported Earnings • Apr 29
First quarter 2026 earnings released: EPS: CN¥0.44 (vs CN¥0.45 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.44 (down from CN¥0.45 in 1Q 2025). Revenue: CN¥2.67b (up 1.4% from 1Q 2025). Net income: CN¥268.6m (flat on 1Q 2025). Profit margin: 10.0% (in line with 1Q 2025). 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 19% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Major Estimate Revision • Apr 07
Consensus EPS estimates fall by 13% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from CN¥2.94 to CN¥2.57 per share. Revenue forecast steady at CN¥15.5b. Net income forecast to grow 19% next year vs 34% growth forecast for Auto Components industry in China. Consensus price target down from CN¥65.57 to CN¥60.72. Share price was steady at CN¥43.20 over the past week. Major Estimate Revision • Apr 03
Consensus EPS estimates fall by 13% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from CN¥2.94 to CN¥2.56 per share. Revenue forecast steady at CN¥15.6b. Net income forecast to grow 19% next year vs 33% growth forecast for Auto Components industry in China. Consensus price target down from CN¥65.57 to CN¥60.72. Share price fell 2.8% to CN¥43.53 over the past week. Price Target Changed • Mar 31
Price target decreased by 8.1% to CN¥60.26 Down from CN¥65.57, the current price target is an average from 5 analysts. New target price is 37% above last closing price of CN¥43.96. Stock is down 28% over the past year. The company is forecast to post earnings per share of CN¥2.64 for next year compared to CN¥2.16 last year. Announcement • Mar 30
Bethel Automotive Safety Systems Co., Ltd to Report Q1, 2026 Results on Apr 29, 2026 Bethel Automotive Safety Systems Co., Ltd announced that they will report Q1, 2026 results on Apr 29, 2026 Reported Earnings • Mar 29
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥2.16 (up from CN¥1.99 in FY 2024). Revenue: CN¥12.0b (up 21% from FY 2024). Net income: CN¥1.31b (up 8.3% from FY 2024). Profit margin: 11% (down from 12% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 5.0%. Earnings per share (EPS) also missed analyst estimates by 12%. 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 21% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Mar 28
Bethel Automotive Safety Systems Co., Ltd, Annual General Meeting, Apr 20, 2026 Bethel Automotive Safety Systems Co., Ltd, Annual General Meeting, Apr 20, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Wuhu Area, China (Anhui) Pilot Free Trade Zone China Announcement • Dec 26
Bethel Automotive Safety Systems Co., Ltd to Report Fiscal Year 2025 Results on Mar 28, 2026 Bethel Automotive Safety Systems Co., Ltd announced that they will report fiscal year 2025 results on Mar 28, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.61 (vs CN¥0.53 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.61 (up from CN¥0.53 in 3Q 2024). Revenue: CN¥3.19b (up 23% from 3Q 2024). Net income: CN¥369.2m (up 15% from 3Q 2024). Profit margin: 12% (in line with 3Q 2024). Revenue is forecast to grow 22% 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 23% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Bethel Automotive Safety Systems Co., Ltd to Report Q3, 2025 Results on Oct 30, 2025 Bethel Automotive Safety Systems Co., Ltd announced that they will report Q3, 2025 results on Oct 30, 2025 Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥54.53, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 25x in the Auto Components industry in China. Total loss to shareholders of 7.8% over the past three years. Reported Earnings • Aug 31
Second quarter 2025 earnings released: EPS: CN¥0.41 (vs CN¥0.40 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.41 (up from CN¥0.40 in 2Q 2024). Revenue: CN¥2.53b (up 20% from 2Q 2024). Net income: CN¥252.0m (up 1.8% from 2Q 2024). Profit margin: 10.0% (down from 12% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 22% 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 25% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Jun 30
Bethel Automotive Safety Systems Co., Ltd to Report First Half, 2025 Results on Aug 29, 2025 Bethel Automotive Safety Systems Co., Ltd announced that they will report first half, 2025 results on Aug 29, 2025 Reported Earnings • Apr 24
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: CN¥1.99 (up from CN¥1.54 in FY 2023). Revenue: CN¥9.94b (up 33% from FY 2023). Net income: CN¥1.21b (up 36% from FY 2023). Profit margin: 12% (in line with FY 2023). Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates by 4.3%. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Apr 23
Bethel Automotive Safety Systems Co., Ltd, Annual General Meeting, May 13, 2025 Bethel Automotive Safety Systems Co., Ltd, Annual General Meeting, May 13, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Wuhu, Anhui China Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥51.08, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 18x in the Auto Components industry in China. Total returns to shareholders of 37% over the past three years. Announcement • Mar 28
Bethel Automotive Safety Systems Co., Ltd to Report Q1, 2025 Results on Apr 30, 2025 Bethel Automotive Safety Systems Co., Ltd announced that they will report Q1, 2025 results on Apr 30, 2025 Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥55.31, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 19x in the Auto Components industry in China. Total returns to shareholders of 6.2% over the past three years. Announcement • Dec 27
Bethel Automotive Safety Systems Co., Ltd to Report Fiscal Year 2024 Results on Apr 23, 2025 Bethel Automotive Safety Systems Co., Ltd announced that they will report fiscal year 2024 results on Apr 23, 2025 Price Target Changed • Nov 01
Price target increased by 8.5% to CN¥58.59 Up from CN¥53.99, the current price target is an average from 5 analysts. New target price is 24% above last closing price of CN¥47.23. Stock is down 13% over the past year. The company is forecast to post earnings per share of CN¥1.93 for next year compared to CN¥1.54 last year. Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.53 (vs CN¥0.41 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.53 (up from CN¥0.41 in 3Q 2023). Revenue: CN¥2.61b (up 30% from 3Q 2023). Net income: CN¥320.6m (up 34% from 3Q 2023). Profit margin: 12% (in line with 3Q 2023). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Price Target Changed • Oct 30
Price target increased by 7.6% to CN¥56.39 Up from CN¥52.39, the current price target is an average from 5 analysts. New target price is 14% above last closing price of CN¥49.55. Stock is down 7.8% over the past year. The company is forecast to post earnings per share of CN¥1.91 for next year compared to CN¥1.54 last year. Announcement • Sep 30
Bethel Automotive Safety Systems Co., Ltd to Report Q3, 2024 Results on Oct 30, 2024 Bethel Automotive Safety Systems Co., Ltd announced that they will report Q3, 2024 results on Oct 30, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to CN¥48.92, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 15x in the Auto Components industry in China. Total returns to shareholders of 55% over the past three years. New Risk • Sep 12
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 6.8% 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: Major Risk High level of non-cash earnings (26% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Shareholders have been diluted in the past year (5.2% increase in shares outstanding). Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: CN¥0.41 (vs CN¥0.33 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.41 (up from CN¥0.33 in 2Q 2023). Revenue: CN¥2.11b (up 32% from 2Q 2023). Net income: CN¥247.5m (up 35% from 2Q 2023). Profit margin: 12% (in line with 2Q 2023). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Price Target Changed • Aug 30
Price target decreased by 7.7% to CN¥54.94 Down from CN¥59.53, the current price target is an average from 4 analysts. New target price is 48% above last closing price of CN¥37.20. Stock is down 31% over the past year. The company is forecast to post earnings per share of CN¥1.89 for next year compared to CN¥1.54 last year. Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥46.35, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 15x in the Auto Components industry in China. Total returns to shareholders of 76% over the past three years. Announcement • Jun 28
Bethel Automotive Safety Systems Co., Ltd to Report First Half, 2024 Results on Aug 30, 2024 Bethel Automotive Safety Systems Co., Ltd announced that they will report first half, 2024 results on Aug 30, 2024 Reported Earnings • May 01
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: CN¥0.48 (up from CN¥0.42 in 1Q 2023). Revenue: CN¥1.86b (up 24% from 1Q 2023). Net income: CN¥209.9m (up 22% from 1Q 2023). Profit margin: 11% (in line with 1Q 2023). Revenue missed analyst estimates by 4.9%. Earnings per share (EPS) also missed analyst estimates by 7.7%. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 24% per year. Announcement • Mar 29
Bethel Automotive Safety Systems Co., Ltd to Report Q1, 2024 Results on Apr 30, 2024 Bethel Automotive Safety Systems Co., Ltd announced that they will report Q1, 2024 results on Apr 30, 2024 Announcement • Mar 28
Bethel Automotive Safety Systems Co., Ltd, Annual General Meeting, Apr 17, 2024 Bethel Automotive Safety Systems Co., Ltd, Annual General Meeting, Apr 17, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Wuhu Area, China (Anhui) Pilot Free Trade Zone China Reported Earnings • Mar 28
Full year 2023 earnings: EPS in line with expectations, revenues disappoint Full year 2023 results: EPS: CN¥2.15 (up from CN¥1.71 in FY 2022). Revenue: CN¥7.47b (up 35% from FY 2022). Net income: CN¥891.5m (up 28% from FY 2022). Profit margin: 12% (in line with FY 2022). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 26% per year. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥59.29, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 17x in the Auto Components industry in China. Total returns to shareholders of 55% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥107 per share. Announcement • Feb 01
Bethel Automotive Safety Systems Co., Ltd (SHSE:603596) announces an Equity Buyback for 1,800,000 shares, for CNY 162.77 million. Bethel Automotive Safety Systems Co., Ltd (SHSE:603596) announces a share repurchase program. Under the program, the company will repurchase not more than 1,800,000 shares for CNY 162.77 million. The shares will be repurchased at a price not more than CNY 90.43 per share. The repurchased shares will be used for ESOP or equity incentives. The program will be valid for a period of 12 months. New Risk • Jan 24
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 6.2% 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: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (6.2% average weekly change). Shareholders have been diluted in the past year (5.2% increase in shares outstanding). Announcement • Dec 29
Bethel Automotive Safety Systems Co., Ltd to Report Fiscal Year 2023 Results on Mar 28, 2024 Bethel Automotive Safety Systems Co., Ltd announced that they will report fiscal year 2023 results on Mar 28, 2024 Buying Opportunity • Dec 15
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 6.7%. The fair value is estimated to be CN¥88.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to grow by 63% in 2 years. Earnings is forecast to grow by 78% in the next 2 years. New Risk • Dec 05
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 5.9% 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: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (5.9% average weekly change). Shareholders have been diluted in the past year (5.7% increase in shares outstanding). New Risk • Dec 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.7% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risk Shareholders have been diluted in the past year (5.7% increase in shares outstanding). Buying Opportunity • Nov 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be CN¥93.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to grow by 63% in 2 years. Earnings is forecast to grow by 79% in the next 2 years. Reported Earnings • Oct 31
Third quarter 2023 earnings released: EPS: CN¥0.58 (vs CN¥0.48 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.58 (up from CN¥0.48 in 3Q 2022). Revenue: CN¥2.01b (up 28% from 3Q 2022). Net income: CN¥239.3m (up 21% from 3Q 2022). Profit margin: 12% (in line with 3Q 2022). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 30
Bethel Automotive Safety Systems Co., Ltd to Report Q3, 2023 Results on Oct 28, 2023 Bethel Automotive Safety Systems Co., Ltd announced that they will report Q3, 2023 results on Oct 28, 2023 Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: CN¥0.44 (vs CN¥0.35 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.44 (up from CN¥0.35 in 2Q 2022). Revenue: CN¥1.59b (up 45% from 2Q 2022). Net income: CN¥183.3m (up 29% from 2Q 2022). Profit margin: 12% (down from 13% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Aug 15
Now 20% undervalued Over the last 90 days, the stock is up 23%. The fair value is estimated to be CN¥102, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 21%. Revenue is forecast to grow by 72% in 2 years. Earnings is forecast to grow by 91% in the next 2 years. Announcement • Jun 28
Bethel Automotive Safety Systems Co., Ltd to Report First Half, 2023 Results on Aug 29, 2023 Bethel Automotive Safety Systems Co., Ltd announced that they will report first half, 2023 results on Aug 29, 2023 Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥76.93, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 22x in the Auto Components industry in China. Total returns to shareholders of 123% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥77.42 per share. Price Target Changed • Apr 06
Price target decreased by 10.0% to CN¥97.10 Down from CN¥108, the current price target is an average from 5 analysts. New target price is 47% above last closing price of CN¥65.86. Stock is up 17% over the past year. The company is forecast to post earnings per share of CN¥2.33 for next year compared to CN¥1.71 last year. Reported Earnings • Mar 22
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: CN¥1.71 (up from CN¥1.24 in FY 2021). Revenue: CN¥5.54b (up 59% from FY 2021). Net income: CN¥698.7m (up 39% from FY 2021). Profit margin: 13% (down from 14% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 9.1%. Earnings per share (EPS) also surpassed analyst estimates by 4.9%. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Feb 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be CN¥97.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 18%. Revenue is forecast to grow by 83% in 2 years. Earnings is forecast to grow by 107% in the next 2 years. Buying Opportunity • Jan 09
Now 20% undervalued Over the last 90 days, the stock is up 1.4%. The fair value is estimated to be CN¥105, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 18%. Revenue is forecast to grow by 90% in 2 years. Earnings is forecast to grow by 109% in the next 2 years. Price Target Changed • Nov 16
Price target increased to CN¥104 Up from CN¥71.20, the current price target is an average from 3 analysts. New target price is 21% above last closing price of CN¥85.60. Stock is up 34% over the past year. The company is forecast to post earnings per share of CN¥1.61 for next year compared to CN¥1.24 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Fushen Hou 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 28
Third quarter 2022 earnings released: EPS: CN¥0.48 (vs CN¥0.31 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.48 (up from CN¥0.31 in 3Q 2021). Revenue: CN¥1.57b (up 100% from 3Q 2021). Net income: CN¥197.6m (up 55% from 3Q 2021). Profit margin: 13% (down from 16% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 72% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥95.83, the stock trades at a forward P/E ratio of 47x. Average forward P/E is 26x in the Auto Components industry in China. Total returns to shareholders of 492% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥69.79 per share. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥101, the stock trades at a forward P/E ratio of 54x. Average forward P/E is 27x in the Auto Components industry in China. Total returns to shareholders of 553% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥77.77 per share. Reported Earnings • Aug 31
Second quarter 2022 earnings released: EPS: CN¥0.35 (vs CN¥0.28 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.35 (up from CN¥0.28 in 2Q 2021). Revenue: CN¥1.10b (up 46% from 2Q 2021). Net income: CN¥142.2m (up 26% from 2Q 2021). Profit margin: 13% (down from 15% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 30%, compared to a 38% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 81% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jul 26
Price target decreased to CN¥71.20 Down from CN¥76.58, the current price target is an average from 5 analysts. New target price is 24% below last closing price of CN¥93.50. Stock is up 160% over the past year. The company is forecast to post earnings per share of CN¥1.70 for next year compared to CN¥1.24 last year. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥87.95, the stock trades at a forward P/E ratio of 49x. Average forward P/E is 27x in the Auto Components industry in China. Total returns to shareholders of 470% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥65.88 per share. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improved over the past week After last week's 22% share price gain to CN¥90.60, the stock trades at a forward P/E ratio of 51x. Average forward P/E is 30x in the Auto Components industry in China. Total returns to shareholders of 440% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥60.40 per share. Announcement • May 12
Bethel Automotive Safety Systems Co., Ltd (SHSE:603596) announces an Equity Buyback for 700,000 shares. Bethel Automotive Safety Systems Co., Ltd (SHSE:603596) announces a share repurchase program. Under the program, the company will repurchase not more than 700,000 shares. The shares will be repurchased at a price not more than CNY 90.91 per share. The program will be funded using the company's own funds. The repurchased shares will be used to implement equity incentives or employee stock ownership plans. The program will be valid for a period of 12 months. Reported Earnings • May 02
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: CN¥0.34 (up from CN¥0.31 in 1Q 2021). Revenue: CN¥1.01b (up 29% from 1Q 2021). Net income: CN¥138.3m (up 8.3% from 1Q 2021). Profit margin: 14% (down from 16% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 8.1%. Earnings per share (EPS) missed analyst estimates by 8.8%. Over the next year, revenue is forecast to grow 31%, compared to a 32% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 1 independent director (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Apr 10
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥1.24 (up from CN¥1.13 in FY 2020). Revenue: CN¥3.49b (up 15% from FY 2020). Net income: CN¥504.5m (up 9.3% from FY 2020). Profit margin: 14% (in line with FY 2020). Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) also missed analyst estimates by 8.8%. Over the next year, revenue is forecast to grow 29%, compared to a 33% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥70.10, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 24x in the Auto Components industry in China. Total returns to shareholders of 193% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥50.44 per share. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥80.98, the stock trades at a forward P/E ratio of 49x. Average forward P/E is 25x in the Auto Components industry in China. Total returns to shareholders of 302% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥48.96 per share. Price Target Changed • Feb 17
Price target increased to CN¥72.41 Up from CN¥61.03, the current price target is an average from 6 analysts. New target price is 11% below last closing price of CN¥80.98. Stock is up 113% over the past year. The company is forecast to post earnings per share of CN¥1.35 for next year compared to CN¥1.13 last year. Announcement • Jan 26
Bethel Automotive Safety Systems Co., Ltd (SHSE:603596) announces an Equity Buyback for 500,000 shares, for CNY 54.45 million. Bethel Automotive Safety Systems Co., Ltd (SHSE:603596) announces a share repurchase program. Under the program, the company will repurchase up to 500,000 shares. The shares will be repurchased at a price not exceeding CNY 108.89 per share. The program will be funded from the company's own funds or self-raised funds in compliance with laws and regulations. The program will be used to implement equity incentives or employee stock ownership plans. The program will be valid for 6 months. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥75.61, the stock trades at a forward P/E ratio of 46x. Average forward P/E is 29x in the Auto Components industry in China. Total returns to shareholders of 234% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥45.97 per share. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.31 (vs CN¥0.32 in 3Q 2020) The company reported a poor third quarter result with weaker earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: CN¥787.2m (down 8.9% from 3Q 2020). Net income: CN¥127.7m (down 3.9% from 3Q 2020). Profit margin: 16% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥55.85, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 20x in the Auto Components industry in China. Total returns to shareholders of 174% over the past three years. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improved over the past week After last week's 25% share price gain to CN¥49.80, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 21x in the Auto Components industry in China. Total returns to shareholders of 79% over the past three years. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS CN¥0.28 (vs CN¥0.15 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥755.1m (up 33% from 2Q 2020). Net income: CN¥113.1m (up 80% from 2Q 2020). Profit margin: 15% (up from 11% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 16% per year. Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment improved over the past week After last week's 23% share price gain to CN¥42.80, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 20x in the Auto Components industry in China. Total returns to shareholders of 47% over the past three years. Announcement • Jul 16
Bethel Automotive Safety Systems Co., Ltd (SHSE:603596) completed the acquisition of remaining 49% stake in Weihai Bethel Sakthi Automotive Safety Systems Co.,Ltd from Sakthi Automotive Group USA Inc. Bethel Automotive Safety Systems Co., Ltd (SHSE:603596) entered into an agreement to acquire remaining 49% stake in Weihai Bethel Sakthi Automotive Safety Systems Co.,Ltd from Sakthi Automotive Group USA Inc. for $19.6 million (approximately CNY 130 million) on April 9, 2021. The purchase price will be paid at the time of delivery. Following the transaction, Weihai Bethel Sakthi Automotive Safety Systems Co.,Ltd will become a wholly-owned subsidiary of Bethel Automotive Safety Systems Co. In related transaction, Bethel Automotive Safety Systems Co., Ltd entered into an agreement to acquire remaining 51% stake in Weihai Sabo Automotive Safety System Co., Ltd. from Sakthi Automotive Group USA Inc. for $20 million. The transaction will be funded from Bethel Automotive Safety Systems Co., Ltd's own fund. For the year ended December 31, 2020, Weihai Bethel Sakthi Automotive Safety Systems Co. reported total assets of CNY 695.8 million, net assets of CNY 510.5 million, operating revenue of CNY 786.7 million, operating profit of CNY 72.4 million and net profit of CNY 63.1 million.
The transaction needs to be submitted to Bethel Automotive Safety Systems' shareholders meeting for deliberation. The transaction has been reviewed and approved at the 22nd meeting of Bethel Automotive Safety Systems Co.'s second Board of Directors and the 17th meeting of the second Board of Supervisors.
Bethel Automotive Safety Systems Co., Ltd (SHSE:603596) completed the acquisition of remaining 49% stake in Weihai Bethel Sakthi Automotive Safety Systems Co.,Ltd from Sakthi Automotive Group USA Inc. on July 14, 2021. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS CN¥0.31 (vs CN¥0.26 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: CN¥786.0m (up 32% from 1Q 2020). Net income: CN¥127.8m (up 22% from 1Q 2020). Profit margin: 16% (down from 18% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 11
Full year 2020 earnings released: EPS CN¥1.13 (vs CN¥0.98 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CN¥3.04b (down 3.6% from FY 2019). Net income: CN¥461.5m (up 15% from FY 2019). Profit margin: 15% (up from 13% in FY 2019). The increase in margin was driven by lower expenses. Is New 90 Day High Low • Mar 09
New 90-day low: CN¥30.70 The company is down 17% from its price of CN¥36.78 on 09 December 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥2.62 per share.