Announcement • 19h
Wangli Security & Surveillance Product Co., Ltd to Report First Half, 2026 Results on Aug 31, 2026 Wangli Security & Surveillance Product Co., Ltd announced that they will report first half, 2026 results on Aug 31, 2026 Announcement • May 27
Wangli Security & Surveillance Product Co., Ltd announced that it expects to receive CNY 300 million in funding Wangli Security & Surveillance Product Co., Ltd announced a private placement to issue A shares for gross proceeds of not more than CNY 300,000,000 on May 25, 2026. The transaction will include participation from not more than 35 investors including Wang Jiankai, who will subscribe with not more than CNY 60,000,000. The pricing benchmark date for this issuance is the first day of the issuance period. The issuance price will be no less than 80% of the average trading price of the company’s stock over the 20 trading days prior to the pricing benchmark date. The shares subscribed by Wang Jiankai cannot be transferred within 18 months from the issuance closing date and the shares subscribed by the other investors in this issuance cannot be transferred within six months from the date of the completion of the issuance. The transaction has been approved in the 4th Meeting of the company’s 4th directorate and is subject to the approvals of the company’s shareholders, the Shanghai Stock Exchange, and the China Securities Regulatory Commission. New Risk • May 05
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 9.8% 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 (9.8% average weekly change). Earnings have declined by 7.3% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Apr 29
Wangli Security & Surveillance Product Co., Ltd, Annual General Meeting, May 19, 2026 Wangli Security & Surveillance Product Co., Ltd, Annual General Meeting, May 19, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Jinhua, Zhejiang China New Risk • Apr 13
New major risk - Revenue and earnings growth Earnings have declined by 21% 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 Risk Earnings have declined by 21% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.8% average weekly change). Announcement • Mar 30
Wangli Security & Surveillance Product Co., Ltd to Report Q1, 2026 Results on Apr 29, 2026 Wangli Security & Surveillance Product Co., Ltd announced that they will report Q1, 2026 results on Apr 29, 2026 New Risk • Mar 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 8.0% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.0% average weekly change). Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥12.67, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 24x in the Building industry in China. Total returns to shareholders of 30% over the past three years. Announcement • Dec 26
Wangli Security & Surveillance Product Co., Ltd to Report Fiscal Year 2025 Results on Apr 29, 2026 Wangli Security & Surveillance Product Co., Ltd announced that they will report fiscal year 2025 results on Apr 29, 2026 Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: CN¥0.11 (vs CN¥0.06 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.11 (up from CN¥0.06 in 3Q 2024). Revenue: CN¥907.6m (up 13% from 3Q 2024). Net income: CN¥51.0m (up 98% from 3Q 2024). Profit margin: 5.6% (up from 3.2% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Building industry in China. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Wangli Security & Surveillance Product Co., Ltd to Report Q3, 2025 Results on Oct 31, 2025 Wangli Security & Surveillance Product Co., Ltd announced that they will report Q3, 2025 results on Oct 31, 2025 Reported Earnings • Sep 02
Second quarter 2025 earnings released: EPS: CN¥0.12 (vs CN¥0.076 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.12 (up from CN¥0.076 in 2Q 2024). Revenue: CN¥924.3m (up 8.9% from 2Q 2024). Net income: CN¥44.1m (up 14% from 2Q 2024). Profit margin: 4.8% (up from 4.6% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. New Risk • Aug 01
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 6.9% 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 Earnings have declined by 33% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (399% cash payout ratio). Share price has been volatile over the past 3 months (6.9% average weekly change). Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥11.75, the stock trades at a trailing P/E ratio of 35.8x. Average trailing P/E is 32x in the Building industry in China. Total returns to shareholders of 30% over the past three years. Announcement • Jun 30
Wangli Security & Surveillance Product Co., Ltd to Report First Half, 2025 Results on Aug 28, 2025 Wangli Security & Surveillance Product Co., Ltd announced that they will report first half, 2025 results on Aug 28, 2025 New Risk • Jun 13
New major risk - Revenue and earnings growth Earnings have declined by 33% 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 Risk Earnings have declined by 33% per year over the past 5 years. Minor Risk Dividend is not well covered by cash flows (402% cash payout ratio). Announcement • Apr 29
Wangli Security & Surveillance Product Co., Ltd, Annual General Meeting, May 21, 2025 Wangli Security & Surveillance Product Co., Ltd, Annual General Meeting, May 21, 2025, at 14:00 China Standard Time. Announcement • Mar 28
Wangli Security & Surveillance Product Co., Ltd to Report Q1, 2025 Results on Apr 29, 2025 Wangli Security & Surveillance Product Co., Ltd announced that they will report Q1, 2025 results on Apr 29, 2025 Announcement • Dec 27
Wangli Security & Surveillance Product Co., Ltd to Report Fiscal Year 2024 Results on Apr 29, 2025 Wangli Security & Surveillance Product Co., Ltd announced that they will report fiscal year 2024 results on Apr 29, 2025 Major Estimate Revision • Nov 15
Consensus EPS estimates fall by 29% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥3.78b to CN¥3.47b. EPS estimate also fell from CN¥0.425 per share to CN¥0.30 per share. Net income forecast to grow 320% next year vs 38% growth forecast for Building industry in China. Consensus price target of CN¥7.00 unchanged from last update. Share price fell 18% to CN¥8.55 over the past week. New Risk • Oct 31
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 325% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.06 (vs CN¥0.11 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.06 (down from CN¥0.11 in 3Q 2023). Revenue: CN¥803.2m (up 1.8% from 3Q 2023). Net income: CN¥25.8m (down 45% from 3Q 2023). Profit margin: 3.2% (down from 5.9% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Building industry in China. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Oct 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥8.13, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the Building industry in China. Total loss to shareholders of 28% over the past three years. Announcement • Sep 30
Wangli Security & Surveillance Product Co., Ltd to Report Q3, 2024 Results on Oct 29, 2024 Wangli Security & Surveillance Product Co., Ltd announced that they will report Q3, 2024 results on Oct 29, 2024 Major Estimate Revision • Sep 10
Consensus EPS estimates fall by 20% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from CN¥0.53 to CN¥0.425. Revenue forecast unchanged from CN¥3.78b at last update. Net income forecast to grow 270% next year vs 19% growth forecast for Building industry in China. Consensus price target down from CN¥10.12 to CN¥7.00. Share price rose 4.3% to CN¥6.75 over the past week. New Risk • Sep 09
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.2% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 211% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.2% increase in shares outstanding). New Risk • Sep 04
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 20% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 218% Paying a dividend despite having no free cash flows. Minor Risk Large one-off items impacting financial results. Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: CN¥0.076 (vs CN¥0.089 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.076. Revenue: CN¥849.0m (up 17% from 2Q 2023). Net income: CN¥38.6m (up 16% from 2Q 2023). Profit margin: 4.6% (in line with 2Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Building industry in China. Announcement • Jun 29
Wangli Security & Surveillance Product Co., Ltd to Report First Half, 2024 Results on Aug 28, 2024 Wangli Security & Surveillance Product Co., Ltd announced that they will report first half, 2024 results on Aug 28, 2024 Major Estimate Revision • May 14
Consensus revenue estimates increase by 14%, EPS downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from CN¥3.46b to CN¥3.96b. EPS estimate fell from CN¥0.56 to CN¥0.51. Net income forecast to grow 346% next year vs 24% growth forecast for Building industry in China. Consensus price target of CN¥12.73 unchanged from last update. Share price fell 2.6% to CN¥8.15 over the past week. Announcement • Apr 27
Wangli Security & Surveillance Product Co., Ltd, Annual General Meeting, May 16, 2024 Wangli Security & Surveillance Product Co., Ltd, Annual General Meeting, May 16, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Jinhua, Zhejiang China Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.04 (vs CN¥0.03 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.04 (up from CN¥0.03 in 1Q 2023). Revenue: CN¥435.2m (up 10% from 1Q 2023). Net income: CN¥16.1m (up 4.6% from 1Q 2023). Profit margin: 3.7% (down from 3.9% in 1Q 2023). Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Building industry in China. 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. Buy Or Sell Opportunity • Apr 24
Now 22% overvalued Over the last 90 days, the stock has fallen 28% to CN¥7.95. The fair value is estimated to be CN¥6.50, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years. Earnings per share has declined by 89%. Revenue is forecast to grow by 61% in 2 years. Earnings are forecast to grow by 639% in the next 2 years. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CN¥7.09, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Building industry in China. Total loss to shareholders of 58% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥6.50 per share. Announcement • Mar 29
Wangli Security & Surveillance Product Co., Ltd to Report Q1, 2024 Results on Apr 26, 2024 Wangli Security & Surveillance Product Co., Ltd announced that they will report Q1, 2024 results on Apr 26, 2024 Buy Or Sell Opportunity • Feb 26
Now 24% overvalued Over the last 90 days, the stock has fallen 22% to CN¥8.06. The fair value is estimated to be CN¥6.52, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years. Earnings per share has declined by 89%. Revenue is forecast to grow by 61% in 2 years. Earnings are forecast to grow by 639% in the next 2 years. Announcement • Feb 09
Wangli Security & Surveillance Product Co., Ltd (SHSE:605268) agreed to acquire 24.5% stake in Songzi Nengliang New Material Technology Co., Ltd. from Songzi Running Building Materials Co., Ltd. for CNY 27.4 million. Wangli Security & Surveillance Product Co., Ltd (SHSE:605268) agreed to acquire 24.5% stake in Songzi Nengliang New Material Technology Co., Ltd. from Songzi Running Building Materials Co., Ltd. for CNY 27.4 million on February 7, 2024. Prior to the transaction, Wangli Security & Surveillance Product Co., Ltd (SHSE:605268) held 51%. Songzi Nengliang New Material Technology reported total assets of CNY 126,125,942.22 and net assets of CNY 110,109,346.91 as at September 30, 2023. The transaction has been approved by board of Wangli Security & Surveillance Product. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to CN¥6.87, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 11x in the Building industry in China. Total loss to shareholders of 30% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥5.91 per share. New Risk • Jan 30
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 6.3% 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 Dividend is not well covered by earnings (228% payout ratio). Share price has been volatile over the past 3 months (6.3% average weekly change). Large one-off items impacting financial results. Announcement • Dec 29
Wangli Security & Surveillance Product Co., Ltd to Report Fiscal Year 2023 Results on Apr 26, 2024 Wangli Security & Surveillance Product Co., Ltd announced that they will report fiscal year 2023 results on Apr 26, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.11 (vs CN¥0.078 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.11 (up from CN¥0.078 in 3Q 2022). Revenue: CN¥789.1m (up 33% from 3Q 2022). Net income: CN¥46.7m (up 94% from 3Q 2022). Profit margin: 5.9% (up from 4.1% in 3Q 2022). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Building industry in China. New Risk • Sep 26
New major risk - Revenue and earnings growth Earnings have declined by 41% 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 Risk Earnings have declined by 41% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (480% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.8% net profit margin). Buying Opportunity • Sep 14
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.4%. The fair value is estimated to be CN¥12.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.2% over the last 3 years. Earnings per share has declined by 82%. Revenue is forecast to grow by 83% in 2 years. Earnings is forecast to grow by 1,677% in the next 2 years. Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: CN¥0.089 (vs CN¥0.012 loss in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.089 (up from CN¥0.012 loss in 2Q 2022). Revenue: CN¥726.4m (up 13% from 2Q 2022). Net income: CN¥33.4m (up CN¥39.1m from 2Q 2022). Profit margin: 4.6% (up from net loss in 2Q 2022). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Building industry in China. Reported Earnings • Apr 26
First quarter 2023 earnings released: EPS: CN¥0.03 (vs CN¥0.02 loss in 1Q 2022) First quarter 2023 results: EPS: CN¥0.03 (up from CN¥0.02 loss in 1Q 2022). Revenue: CN¥394.7m (up 12% from 1Q 2022). Net income: CN¥15.4m (up CN¥22.2m from 1Q 2022). Profit margin: 3.9% (up from net loss in 1Q 2022). Revenue is forecast to grow 32% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Building industry in China. Board Change • Nov 16
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. 7 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). Employee Representative Supervisor Ting Wang was the last director to join the board, commencing their role in 2016. 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 • Oct 31
Third quarter 2022 earnings released: EPS: CN¥0.078 (vs CN¥0.15 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.078 (down from CN¥0.15 in 3Q 2021). Revenue: CN¥593.6m (down 24% from 3Q 2021). Net income: CN¥24.1m (down 66% from 3Q 2021). Profit margin: 4.1% (down from 9.0% in 3Q 2021). Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Building industry in China. Reported Earnings • Aug 26
Second quarter 2022 earnings released: CN¥0.012 loss per share (vs CN¥0.11 profit in 2Q 2021) Second quarter 2022 results: CN¥0.012 loss per share (down from CN¥0.11 profit in 2Q 2021). Revenue: CN¥641.0m (down 6.5% from 2Q 2021). Net loss: CN¥5.77m (down 112% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 42%, compared to a 41% growth forecast for the Building industry in China. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥11.12, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 13x in the Building industry in China. Total loss to shareholders of 19% over the past year. Reported Earnings • Apr 27
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥0.32 (down from CN¥0.65 in FY 2020). Revenue: CN¥2.64b (up 25% from FY 2020). Net income: CN¥137.5m (down 43% from FY 2020). Profit margin: 5.2% (down from 11% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 38%. Over the next year, revenue is forecast to grow 26%, compared to a 23% growth forecast for the industry in China. Reported Earnings • Oct 26
Third quarter 2021 earnings released: EPS CN¥0.15 (vs CN¥0.25 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥785.5m (up 9.4% from 3Q 2020). Net income: CN¥70.9m (down 21% from 3Q 2020). Profit margin: 9.0% (down from 13% in 3Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS CN¥0.11 (vs CN¥0.12 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¥685.3m (up 31% from 2Q 2020). Net income: CN¥47.3m (down 5.8% from 2Q 2020). Profit margin: 6.9% (down from 9.6% in 2Q 2020). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Aug 09
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥13.85, the stock trades at a trailing P/E ratio of 20.5x. Average trailing P/E is 23x in the Building industry in China. Reported Earnings • Apr 16
Full year 2020 earnings released: EPS CN¥0.65 (vs CN¥0.57 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: CN¥2.11b (up 8.4% from FY 2019). Net income: CN¥239.7m (up 13% from FY 2019). Profit margin: 11% (in line with FY 2019). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improved over the past week After last week's 23% share price gain to CN¥17.96, the stock trades at a trailing P/E ratio of 27.6x. Average trailing P/E is 27x in the Building industry in China. 