Buy Or Sell Opportunity • May 26
Now 24% undervalued Over the last 90 days, the stock has risen 72% to CN¥198. The fair value is estimated to be CN¥260, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.8% over the last 3 years. Earnings per share has declined by 41%. Declared Dividend • May 18
Dividend of CN¥0.10 announced Shareholders will receive a dividend of CN¥0.10. Ex-date: 22nd May 2026 Payment date: 22nd May 2026 Dividend yield will be 0.1%, which is lower than the industry average of 2.0%. Payout Ratios Payout ratio: 49%. Cash payout ratio: 9%. New Risk • May 01
New major risk - Revenue and earnings growth Earnings have declined by 14% 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 (11% average weekly change). Earnings have declined by 14% per year over the past 5 years. Reported Earnings • Apr 18
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.22 (down from CN¥0.76 in FY 2024). Revenue: CN¥469.7m (down 9.7% from FY 2024). Net income: CN¥22.3m (down 67% from FY 2024). Profit margin: 4.7% (down from 13% in FY 2024). Revenue missed analyst estimates by 26%. Earnings per share (EPS) also missed analyst estimates by 79%. Revenue is forecast to grow 55% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Machinery industry in China. Announcement • Apr 17
Guangdong Huicheng Vacuum Technology Co., Ltd., Annual General Meeting, May 07, 2026 Guangdong Huicheng Vacuum Technology Co., Ltd., Annual General Meeting, May 07, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Dongguan, Guangdong China Announcement • Mar 31
Guangdong Huicheng Vacuum Technology Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Guangdong Huicheng Vacuum Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 New Risk • Mar 08
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 7.8% 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: Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.4% net profit margin). Announcement • Dec 31
Guangdong Huicheng Vacuum Technology Co., Ltd. to Report Fiscal Year 2025 Results on Apr 17, 2026 Guangdong Huicheng Vacuum Technology Co., Ltd. announced that they will report fiscal year 2025 results on Apr 17, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings released: CN¥0.26 loss per share (vs CN¥0.058 profit in 3Q 2024) Third quarter 2025 results: CN¥0.26 loss per share (down from CN¥0.058 profit in 3Q 2024). Revenue: CN¥40.7m (down 71% from 3Q 2024). Net loss: CN¥25.0m (down CN¥30.4m from profit in 3Q 2024). Revenue is forecast to grow 44% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Machinery industry in China. Announcement • Sep 30
Guangdong Huicheng Vacuum Technology Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Guangdong Huicheng Vacuum Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Declared Dividend • Sep 15
First half dividend of CN¥0.10 announced Shareholders will receive a dividend of CN¥0.10. Ex-date: 18th September 2025 Payment date: 18th September 2025 Dividend yield will be 0.2%, which is lower than the industry average of 2.0%. Payout Ratios Payout ratio: 58%. Cash payout ratio: 15%. Announcement • Sep 09
Guangdong Huicheng Vacuum Technology Co., Ltd. Approves Interim Dividend for 2025 Guangdong Huicheng Vacuum Technology Co., Ltd. held its 1st Extraordinary General Meeting of 2025 on 05 September 2025, approved interim Cash dividend/10 shares (tax included): CNY 1.00000000 for 2025. Announcement • Sep 08
Guangdong Huicheng Vacuum Technology Co., Ltd. Announces Board Appointments Guangdong Huicheng Vacuum Technology Co., Ltd. held its 1st Extraordinary General Meeting of 2025 on 05 September 2025, Approved the appointment of Li Zhirong, non-independent director, Lin Lin, non-independent director, Yan Guoxiang, independent director, Jiang Shaoji, independent director and Tu Rong, independent director. Announcement • Aug 22
Guangdong Huicheng Vacuum Technology Co., Ltd. Proposes Interim Profit Distribution Plan of 2025 Guangdong Huicheng Vacuum Technology Co., Ltd. at its 1st Extraordinary General Meeting of 2025 to be held on 05 September 2025 proposed 2025 interim profit distribution plan as Cash dividend/10 shares (tax included): CNY 1.00000000. Reported Earnings • Aug 22
Second quarter 2025 earnings released: EPS: CN¥0.35 (vs CN¥0.59 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.35 (down from CN¥0.59 in 2Q 2024). Revenue: CN¥165.6m (down 25% from 2Q 2024). Net income: CN¥34.3m (down 30% from 2Q 2024). Profit margin: 21% (down from 22% in 2Q 2024). Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Machinery industry in China. Buy Or Sell Opportunity • Jul 09
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to CN¥118. The fair value is estimated to be CN¥96.64, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.6% over the last 3 years. Earnings per share has declined by 3.0%. Revenue is forecast to grow by 43% in a year. Earnings are forecast to grow by 111% in the next year. Announcement • Jul 02
Guangdong Huicheng Vacuum Technology Co., Ltd. to Report First Half, 2025 Results on Aug 21, 2025 Guangdong Huicheng Vacuum Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 21, 2025 Buy Or Sell Opportunity • Jun 20
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 29% to CN¥108. The fair value is estimated to be CN¥87.66, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.6% over the last 3 years. Earnings per share has declined by 3.0%. Revenue is forecast to grow by 43% in a year. Earnings are forecast to grow by 111% in the next year. Buy Or Sell Opportunity • Jun 05
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to CN¥109. The fair value is estimated to be CN¥87.94, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.6% over the last 3 years. Earnings per share has declined by 3.0%. Revenue is forecast to grow by 43% in a year. Earnings are forecast to grow by 111% in the next year. Announcement • Apr 25
Guangdong Huicheng Vacuum Technology Co., Ltd. Proposes Final Cash Dividend for 2024 Guangdong Huicheng Vacuum Technology Co., Ltd. proposed final cash dividend of CNY 2.00000000 per 10 shares (tax included) for 2024. Announcement • Apr 24
Guangdong Huicheng Vacuum Technology Co., Ltd., Annual General Meeting, May 14, 2025 Guangdong Huicheng Vacuum Technology Co., Ltd., Annual General Meeting, May 14, 2025, at 14:30 China Standard Time. Location: The Company's Meeting Room, Dongguan, Guangdong China Buy Or Sell Opportunity • Apr 14
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 72% to CN¥114. The fair value is estimated to be CN¥92.27, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 9.7%. Revenue is forecast to grow by 65% in 2 years. Earnings are forecast to grow by 86% in the next 2 years. Announcement • Mar 31
Guangdong Huicheng Vacuum Technology Co., Ltd. to Report Q1, 2025 Results on Apr 24, 2025 Guangdong Huicheng Vacuum Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025 Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥72.02, the stock trades at a forward P/E ratio of 63x. Average forward P/E is 19x in the Machinery industry in China. Valuation Update With 7 Day Price Move • Jan 03
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥56.04, the stock trades at a trailing P/E ratio of 60.4x. Average trailing P/E is 33x in the Machinery industry in China. Announcement • Dec 31
Guangdong Huicheng Vacuum Technology Co., Ltd. to Report Fiscal Year 2024 Results on Apr 24, 2025 Guangdong Huicheng Vacuum Technology Co., Ltd. announced that they will report fiscal year 2024 results on Apr 24, 2025 Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥69.19, the stock trades at a trailing P/E ratio of 74.5x. Average trailing P/E is 34x in the Machinery industry in China. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥71.50, the stock trades at a trailing P/E ratio of 77x. Average trailing P/E is 33x in the Machinery industry in China. Reported Earnings • Oct 29
Third quarter 2024 earnings released Third quarter 2024 results: EPS: CN¥0.058. Net income: CN¥5.40m (up CN¥5.40m from 3Q 2023). Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥56.31, the stock trades at a trailing P/E ratio of 58.5x. Average trailing P/E is 30x in the Machinery industry in China. Announcement • Sep 30
Guangdong Huicheng Vacuum Technology Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Guangdong Huicheng Vacuum Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to CN¥51.46, the stock trades at a trailing P/E ratio of 53.4x. Average trailing P/E is 29x in the Machinery industry in China. Announcement • Sep 20
Guangdong Huicheng Vacuum Technology Co., Ltd. Announces Interim Cash Dividend of the Year 2024 of A Shares, Payable on 26 September 2024 Guangdong Huicheng Vacuum Technology Co., Ltd. announced interim cash dividend/10 shares (tax included) of CNY 2.50000000 for year 2024 of A shares. Record date is 25 September 2024. Ex-date is 26 September 2024. Payment date is 26 September 2024. Announcement • Sep 12
Guangdong Huicheng Vacuum Technology Co., Ltd. Declares Interim Profit Distribution 2024 Guangdong Huicheng Vacuum Technology Co., Ltd. held its 1st Extraordinary General Meeting of 2024 on September 9, 2024, approved interim Cash dividend/10 shares (tax included): CNY 2.50000000 of 2024. New Risk • Sep 10
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.5% average weekly change). High level of non-cash earnings (22% accrual ratio). Minor Risk Dividend is not well covered by cash flows (dividend per share is over 6x cash flows per share). Announcement • Aug 24
Guangdong Huicheng Vacuum Technology Co., Ltd. Proposes Dividend for the First Half of 2024 Guangdong Huicheng Vacuum Technology Co., Ltd. proposed Cash dividend/10 shares (tax included): CNY 2.50000000 for the first half of 2024. Reported Earnings • Aug 23
First half 2024 earnings released: EPS: CN¥0.75 (vs CN¥0.58 in 1H 2023) First half 2024 results: EPS: CN¥0.75 (up from CN¥0.58 in 1H 2023). Revenue: CN¥291.3m (up 17% from 1H 2023). Net income: CN¥59.1m (up 35% from 1H 2023). Profit margin: 20% (up from 18% in 1H 2023). The increase in margin was driven by higher revenue. 
