Announcement • Jun 30
Zhejiang Mustang Battery Co.,Ltd to Report First Half, 2026 Results on Aug 27, 2026 Zhejiang Mustang Battery Co.,Ltd announced that they will report first half, 2026 results on Aug 27, 2026 Declared Dividend • Jun 15
Dividend of CN¥0.15 announced Shareholders will receive a dividend of CN¥0.15. Ex-date: 16th June 2026 Payment date: 16th June 2026 Dividend yield will be 0.9%, which is lower than the industry average of 2.5%. Sustainability & Growth Dividend is not adequately covered by earnings (94% earnings payout ratio) and 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 56 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 4.6% to bring the payout ratio under control. However, EPS has declined by 25% over the last 5 years so the company would need to reverse this trend. Announcement • Apr 28
Zhejiang Mustang Battery Co.,Ltd, Annual General Meeting, May 26, 2026 Zhejiang Mustang Battery Co.,Ltd, Annual General Meeting, May 26, 2026, at 09:00 China Standard Time. Location: The Company's Meeting Room, Ningbo, Zhejiang China Reported Earnings • Apr 28
First quarter 2026 earnings released: CN¥0.03 loss per share (vs CN¥0.043 profit in 1Q 2025) First quarter 2026 results: CN¥0.03 loss per share (down from CN¥0.043 profit in 1Q 2025). Revenue: CN¥264.0m (up 9.4% from 1Q 2025). Net loss: CN¥7.34m (down 161% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Announcement • Mar 30
Zhejiang Mustang Battery Co.,Ltd to Report Q1, 2026 Results on Apr 28, 2026 Zhejiang Mustang Battery Co.,Ltd announced that they will report Q1, 2026 results on Apr 28, 2026 Announcement • Dec 26
Zhejiang Mustang Battery Co.,Ltd to Report Fiscal Year 2025 Results on Apr 28, 2026 Zhejiang Mustang Battery Co.,Ltd announced that they will report fiscal year 2025 results on Apr 28, 2026 Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥22.30, the stock trades at a trailing P/E ratio of 64.4x. Average trailing P/E is 43x in the Household Products industry in China. Total returns to shareholders of 93% over the past three years. New Risk • Nov 13
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 109% The company is paying a dividend despite having no free cash flows. Dividend yield: 1.3% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 109% Paying a dividend despite having no free cash flows. High level of non-cash earnings (30% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Profit margins are more than 30% lower than last year (6.6% net profit margin). Announcement • Sep 30
Zhejiang Mustang Battery Co.,Ltd to Report Q3, 2025 Results on Oct 31, 2025 Zhejiang Mustang Battery Co.,Ltd announced that they will report Q3, 2025 results on Oct 31, 2025 Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥29.71, the stock trades at a trailing P/E ratio of 67.4x. Average trailing P/E is 64x in the Household Products industry in China. Total returns to shareholders of 183% over the past three years. New Risk • Sep 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 23% 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 Risk High level of non-cash earnings (23% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.2% average weekly change). Profit margins are more than 30% lower than last year (8.5% net profit margin). Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥23.25, the stock trades at a trailing P/E ratio of 43.2x. Average trailing P/E is 39x in the Household Products industry in China. Total returns to shareholders of 78% over the past three years. New Risk • Jul 11
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 6.7% 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 cash flows (259% cash payout ratio). Share price has been volatile over the past 3 months (6.7% average weekly change). Announcement • Jun 30
Zhejiang Mustang Battery Co.,Ltd to Report First Half, 2025 Results on Aug 28, 2025 Zhejiang Mustang Battery Co.,Ltd announced that they will report first half, 2025 results on Aug 28, 2025 Valuation Update With 7 Day Price Move • Jun 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥20.03, the stock trades at a trailing P/E ratio of 37.2x. Average trailing P/E is 34x in the Household Products industry in China. Total returns to shareholders of 95% over the past three years. Declared Dividend • May 31
Dividend of CN¥0.50 announced Shareholders will receive a dividend of CN¥0.50. Ex-date: 4th June 2025 Payment date: 4th June 2025 Dividend yield will be 2.1%, which is lower than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (60% earnings payout ratio) but not covered by cash flows (259% cash payout ratio). The dividend has increased by an average of 8.8% per year over the past 4 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 34% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.0% EPS decline seen over the last 5 years. New Risk • May 03
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 33% 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 Risk High level of non-cash earnings (33% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Announcement • Apr 28
Zhejiang Mustang Battery Co.,Ltd, Annual General Meeting, May 19, 2025 Zhejiang Mustang Battery Co.,Ltd, Annual General Meeting, May 19, 2025, at 09:00 China Standard Time. Location: The Company's Meeting Room, Ningbo, Zhejiang China Reported Earnings • Apr 27
Full year 2024 earnings released: EPS: CN¥0.93 (vs CN¥0.56 in FY 2023) Full year 2024 results: EPS: CN¥0.93 (up from CN¥0.56 in FY 2023). Revenue: CN¥1.30b (up 30% from FY 2023). Net income: CN¥152.8m (up 45% from FY 2023). Profit margin: 12% (up from 11% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 19% 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 17% After last week's 17% share price decline to CN¥20.21, the stock trades at a trailing P/E ratio of 25.9x. Average trailing P/E is 36x in the Household Products industry in China. Total returns to shareholders of 39% over the past three years. Announcement • Mar 28
Zhejiang Mustang Battery Co.,Ltd to Report Q1, 2025 Results on Apr 30, 2025 Zhejiang Mustang Battery Co.,Ltd announced that they will report Q1, 2025 results on Apr 30, 2025 New Risk • Feb 28
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 10% 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 (10% average weekly change). High level of non-cash earnings (21% accrual ratio). Minor Risk Dividend is not well covered by cash flows (321% cash payout ratio). Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥25.10, the stock trades at a trailing P/E ratio of 32.1x. Average trailing P/E is 39x in the Household Products industry in China. Total returns to shareholders of 49% over the past three years. New Risk • Jan 22
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 8.9% 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 (21% accrual ratio). Minor Risks Dividend is not well covered by cash flows (321% cash payout ratio). Share price has been volatile over the past 3 months (8.9% average weekly change). Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to CN¥19.00, the stock trades at a trailing P/E ratio of 24.3x. Average trailing P/E is 38x in the Household Products industry in China. Negligible returns to shareholders over past three years. Announcement • Dec 27
Zhejiang Mustang Battery Co.,Ltd to Report Fiscal Year 2024 Results on Apr 28, 2025 Zhejiang Mustang Battery Co.,Ltd announced that they will report fiscal year 2024 results on Apr 28, 2025 Valuation Update With 7 Day Price Move • Dec 26
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥21.66, the stock trades at a trailing P/E ratio of 27.7x. Average trailing P/E is 42x in the Household Products industry in China. Total returns to shareholders of 13% over the past three years. Reported Earnings • Oct 29
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: CN¥424.9m (up 23% from 3Q 2023). Net income: CN¥48.6m (up 24% from 3Q 2023). Profit margin: 11% (in line with 3Q 2023). 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¥17.18, the stock trades at a trailing P/E ratio of 23.5x. Average trailing P/E is 32x in the Household Products industry in China. Total loss to shareholders of 6.0% over the past three years. Announcement • Sep 30
Zhejiang Mustang Battery Co.,Ltd to Report Q3, 2024 Results on Oct 29, 2024 Zhejiang Mustang Battery Co.,Ltd announced that they will report Q3, 2024 results on Oct 29, 2024 New Risk • Sep 17
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: CN¥0.46 (vs CN¥0.14 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.46 (up from CN¥0.14 in 2Q 2023). Revenue: CN¥310.3m (up 37% from 2Q 2023). Net income: CN¥44.2m (up 67% from 2Q 2023). Profit margin: 14% (up from 12% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jul 09
Now 24% overvalued Over the last 90 days, the stock has fallen 2.5% to CN¥14.75. The fair value is estimated to be CN¥11.89, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 8.8% over the last 3 years. Earnings per share has declined by 7.6%. Announcement • Jun 28
Zhejiang Mustang Battery Co.,Ltd to Report First Half, 2024 Results on Aug 29, 2024 Zhejiang Mustang Battery Co.,Ltd announced that they will report first half, 2024 results on Aug 29, 2024 New Risk • Jun 06
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 10.0% 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 (10.0% average weekly change). Earnings have declined by 3.1% per year over the past 5 years. Minor Risk Dividend is not well covered by cash flows (343% cash payout ratio). Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment deteriorates as stock falls 31% After last week's 31% share price decline to CN¥16.66, the stock trades at a trailing P/E ratio of 18.7x. Average trailing P/E is 29x in the Household Products industry in China. Total loss to shareholders of 54% over the past three years. Announcement • Apr 30
Zhejiang Mustang Battery Co.,Ltd, Annual General Meeting, May 21, 2024 Zhejiang Mustang Battery Co.,Ltd, Annual General Meeting, May 21, 2024, at 09:00 China Standard Time. Location: The Company's Meeting Room, Ningbo, Zhejiang China Reported Earnings • Apr 29
Full year 2023 earnings released: EPS: CN¥0.79 (vs CN¥0.74 in FY 2022) Full year 2023 results: EPS: CN¥0.79 (up from CN¥0.74 in FY 2022). Revenue: CN¥996.9m (down 2.3% from FY 2022). Net income: CN¥105.5m (up 7.0% from FY 2022). Profit margin: 11% (in line with FY 2022). Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 17% per year. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥19.15, the stock trades at a trailing P/E ratio of 25.6x. Average trailing P/E is 28x in the Household Products industry in China. Total loss to shareholders of 55% over the past three years. Buy Or Sell Opportunity • Apr 11
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 31% to CN¥20.33. The fair value is estimated to be CN¥26.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last year. Earnings per share has grown by 37%. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥25.29, the stock trades at a trailing P/E ratio of 33.8x. Average trailing P/E is 29x in the Household Products industry in China. Total returns to shareholders of 9.9% over the past year. Announcement • Mar 29
Zhejiang Mustang Battery Co.,Ltd to Report Q1, 2024 Results on Apr 30, 2024 Zhejiang Mustang Battery Co.,Ltd announced that they will report Q1, 2024 results on Apr 30, 2024 Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥22.39, the stock trades at a trailing P/E ratio of 29.4x. Average trailing P/E is 26x in the Household Products industry in China. Negligible returns to shareholders over past year. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥18.28, the stock trades at a trailing P/E ratio of 24x. Average trailing P/E is 24x in the Household Products industry in China. Total loss to shareholders of 23% over the past year. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CN¥17.22, the stock trades at a trailing P/E ratio of 22.6x. Average trailing P/E is 24x in the Household Products industry in China. Total loss to shareholders of 25% over the past year. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥23.64, the stock trades at a trailing P/E ratio of 31x. Average trailing P/E is 30x in the Household Products industry in China. Total returns to shareholders of 5.9% over the past year. Announcement • Dec 30
Zhejiang Mustang Battery Co.,Ltd to Report Fiscal Year 2023 Results on Apr 29, 2024 Zhejiang Mustang Battery Co.,Ltd announced that they will report fiscal year 2023 results on Apr 29, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.29 (vs CN¥0.28 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.29 (up from CN¥0.28 in 3Q 2022). Revenue: CN¥346.2m (up 11% from 3Q 2022). Net income: CN¥39.2m (up 4.9% from 3Q 2022). Profit margin: 11% (in line with 3Q 2022). Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: CN¥0.20 (vs CN¥0.25 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.20 (down from CN¥0.25 in 2Q 2022). Revenue: CN¥226.9m (down 9.5% from 2Q 2022). Net income: CN¥26.4m (down 21% from 2Q 2022). Profit margin: 12% (down from 13% in 2Q 2022). The decrease in margin was driven by lower revenue. Announcement • Jun 28
Zhejiang MustangBattery Co.,Ltd to Report First Half, 2023 Results on Aug 30, 2023 Zhejiang MustangBattery Co.,Ltd announced that they will report first half, 2023 results on Aug 30, 2023 Reported Earnings • Apr 26
First quarter 2023 earnings released: EPS: CN¥0.08 (vs CN¥0.02 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.08 (up from CN¥0.02 in 1Q 2022). Revenue: CN¥191.7m (down 22% from 1Q 2022). Net income: CN¥10.9m (up 308% from 1Q 2022). Profit margin: 5.7% (up from 1.1% in 1Q 2022). The increase in margin was driven by lower expenses. Board Change • Nov 16
No independent directors 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. No independent directors (6 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: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Oct 31
Third quarter 2022 earnings released: EPS: CN¥0.28 (vs CN¥0.20 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.28 (up from CN¥0.20 in 3Q 2021). Revenue: CN¥313.2m (down 6.8% from 3Q 2021). Net income: CN¥37.4m (up 43% from 3Q 2021). Profit margin: 12% (up from 7.8% in 3Q 2021). The increase in margin was driven by lower expenses. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: CN¥0.25 (vs CN¥0.12 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.25 (up from CN¥0.12 in 2Q 2021). Revenue: CN¥250.6m (down 9.6% from 2Q 2021). Net income: CN¥33.4m (up 136% from 2Q 2021). Profit margin: 13% (up from 5.1% in 2Q 2021). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥24.68, the stock trades at a trailing P/E ratio of 60.9x. Average trailing P/E is 31x in the Household Products industry in China. Total loss to shareholders of 37% over the past year. Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥23.55, the stock trades at a trailing P/E ratio of 58.1x. Average trailing P/E is 32x in the Household Products industry in China. Total loss to shareholders of 43% over the past year. Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: CN¥0.02 (vs CN¥0.24 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.02 (down from CN¥0.24 in 1Q 2021). Revenue: CN¥246.5m (down 14% from 1Q 2021). Net income: CN¥2.68m (down 89% from 1Q 2021). Profit margin: 1.1% (down from 8.6% in 1Q 2021). The decrease in margin was driven by lower revenue. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. No independent directors (6 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: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 27% share price gain to CN¥27.30, the stock trades at a trailing P/E ratio of 38.9x. Average trailing P/E is 28x in the Household Products industry in China. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.20 (vs CN¥0.39 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¥336.0m (up 1.8% from 3Q 2020). Net income: CN¥26.2m (down 33% from 3Q 2020). Profit margin: 7.8% (down from 12% in 3Q 2020). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥45.94, the stock trades at a trailing P/E ratio of 36.4x. Average trailing P/E is 35x in the Household Products industry in China. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improved over the past week After last week's 27% share price gain to CN¥41.10, the stock trades at a trailing P/E ratio of 32.6x. Average trailing P/E is 44x in the Household Products industry in China.