New Risk • Jul 11
New major risk - Revenue and earnings growth Earnings have declined by 19% 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 19% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.4% average weekly change). Large one-off items impacting financial results. Announcement • Jun 30
Shenzhen Changhong Technology Co., Ltd. to Report First Half, 2026 Results on Aug 21, 2026 Shenzhen Changhong Technology Co., Ltd. announced that they will report first half, 2026 results on Aug 21, 2026 Board Change • Jun 01
Insufficient new 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. 4 highly experienced directors. Non-Independent Director Na Li was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • Apr 22
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.1% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.5% net profit margin). Announcement • Apr 13
Shenzhen Changhong Technology Co., Ltd., Annual General Meeting, May 06, 2026 Shenzhen Changhong Technology Co., Ltd., Annual General Meeting, May 06, 2026, at 14:30 China Standard Time. Location: 12F, No. 3, Jinlong Avenue, Shahu Community, Biling Subdistrict, Pingshan District, Shenzhen, Guangdong China Reported Earnings • Apr 11
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.12 (down from CN¥0.19 in FY 2024). Revenue: CN¥993.8m (down 4.3% from FY 2024). Net income: CN¥64.6m (down 37% from FY 2024). Profit margin: 6.5% (down from 9.8% in FY 2024). Revenue missed analyst estimates by 18%. Earnings per share (EPS) also missed analyst estimates by 45%. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 11% per year. Announcement • Mar 31
Shenzhen Changhong Technology Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Shenzhen Changhong Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 New Risk • Mar 20
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 7.9% 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. This is currently the only risk that has been identified for the company. Announcement • Dec 31
Shenzhen Changhong Technology Co., Ltd. to Report Fiscal Year 2025 Results on Apr 21, 2026 Shenzhen Changhong Technology Co., Ltd. announced that they will report fiscal year 2025 results on Apr 21, 2026 Reported Earnings • Nov 03
Third quarter 2025 earnings released: EPS: CN¥0.03 (vs CN¥0.07 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.03 (down from CN¥0.07 in 3Q 2024). Revenue: CN¥245.8m (down 18% from 3Q 2024). Net income: CN¥17.6m (down 54% from 3Q 2024). Profit margin: 7.2% (down from 13% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
Shenzhen Changhong Technology Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Shenzhen Changhong Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Reported Earnings • Aug 25
Second quarter 2025 earnings released: EPS: CN¥0.03 (vs CN¥0.032 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.03 (down from CN¥0.032 in 2Q 2024). Revenue: CN¥248.6m (flat on 2Q 2024). Net income: CN¥13.1m (down 30% from 2Q 2024). Profit margin: 5.3% (down from 7.5% in 2Q 2024). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Jul 02
Shenzhen Changhong Technology Co., Ltd. to Report First Half, 2025 Results on Aug 22, 2025 Shenzhen Changhong Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 22, 2025 Declared Dividend • May 23
Dividend of CN¥0.075 announced Shareholders will receive a dividend of CN¥0.075. Ex-date: 29th May 2025 Payment date: 29th May 2025 Dividend yield will be 1.1%, which is lower than the industry average of 2.0%. Sustainability & Growth Dividend is covered by earnings (80% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 22% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 41% over the next year, which should provide support to the dividend and adequate earnings cover. New Risk • May 11
New major risk - Revenue and earnings growth Earnings have declined by 19% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 98% Paying a dividend despite having no free cash flows. Earnings have declined by 19% per year over the past 5 years. New Risk • Apr 27
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: 98% Paying a dividend despite having no free cash flows. Minor Risk Large one-off items impacting financial results. Reported Earnings • Apr 26
Full year 2024 earnings: EPS in line with expectations, revenues disappoint Full year 2024 results: EPS: CN¥0.19 (up from CN¥0.06 in FY 2023). Revenue: CN¥1.04b (up 12% from FY 2023). Net income: CN¥102.0m (up 222% from FY 2023). Profit margin: 9.8% (up from 3.4% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Apr 26
Shenzhen Changhong Technology Co., Ltd., Annual General Meeting, May 19, 2025 Shenzhen Changhong Technology Co., Ltd., Annual General Meeting, May 19, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Shenzhen, Guangdong China New Risk • Apr 07
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 7.9% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 98% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Large one-off items impacting financial results. Announcement • Mar 31
Shenzhen Changhong Technology Co., Ltd. to Report Q1, 2025 Results on Apr 26, 2025 Shenzhen Changhong Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 Announcement • Dec 31
Shenzhen Changhong Technology Co., Ltd. to Report Fiscal Year 2024 Results on Apr 26, 2025 Shenzhen Changhong Technology Co., Ltd. announced that they will report fiscal year 2024 results on Apr 26, 2025 New Risk • Nov 07
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: 98% Paying a dividend despite having no free cash flows. Minor Risk Large one-off items impacting financial results. Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.07 (vs CN¥0.018 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.07 (up from CN¥0.018 in 3Q 2023). Revenue: CN¥298.8m (up 33% from 3Q 2023). Net income: CN¥37.8m (up 375% from 3Q 2023). Profit margin: 13% (up from 3.5% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
Shenzhen Changhong Technology Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Shenzhen Changhong Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Announcement • Aug 17
Shenzhen Changhong Technology Co., Ltd. Announces Interim Dividend on A Shares for the Year 2024, Payable on 23 August 2024 Shenzhen Changhong Technology Co., Ltd. announced interim cash dividend of CNY 0.60000000 per 10 A shares (tax included) for 2024. Record date: 22 August 2024. Ex-date: 23 August 2024. Payment date: 23 August 2024. Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: CN¥0.032 (vs CN¥0.02 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.032 (up from CN¥0.02 in 2Q 2023). Revenue: CN¥250.0m (up 9.2% from 2Q 2023). Net income: CN¥18.6m (up 70% from 2Q 2023). Profit margin: 7.5% (up from 4.8% in 2Q 2023). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Announcement • Jun 29
Shenzhen Changhong Technology Co., Ltd. to Report First Half, 2024 Results on Aug 13, 2024 Shenzhen Changhong Technology Co., Ltd. announced that they will report first half, 2024 results on Aug 13, 2024 Declared Dividend • May 25
Dividend reduced to CN¥0.05 Dividend of CN¥0.05 is 75% lower than last year. Ex-date: 29th May 2024 Payment date: 29th May 2024 Dividend yield will be 0.3%, which is lower than the industry average of 2.0%. Payout Ratios Payout ratio: 104%. Cash payout ratio: 243%. Announcement • May 25
Shenzhen Changhong Technology Co., Ltd. Announces Final Cash Dividend Plan on A Shares for 2023, Payable on 29 May 2024 Shenzhen Changhong Technology Co., Ltd. announced final cash dividend of CNY 0.50000000 per 10 shares (tax included) on A shares for 2023. Record date is 28 May 2024. Ex-date is 29 May 2024. Payment date is 29 May 2024. Announcement • Apr 29
Shenzhen Changhong Technology Co., Ltd., Annual General Meeting, May 20, 2024 Shenzhen Changhong Technology Co., Ltd., Annual General Meeting, May 20, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Shenzhen, Guangdong China Announcement • Mar 30
Shenzhen Changhong Technology Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Shenzhen Changhong Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Announcement • Dec 30
Shenzhen Changhong Technology Co., Ltd. to Report Fiscal Year 2023 Results on Apr 27, 2024 Shenzhen Changhong Technology Co., Ltd. announced that they will report fiscal year 2023 results on Apr 27, 2024 New Risk • Nov 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 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 168% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (5.9% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.6% net profit margin). Shareholders have been diluted in the past year (7.1% increase in shares outstanding). New Risk • Nov 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 59% 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: 168% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.6% net profit margin). Shareholders have been diluted in the past year (7.1% increase in shares outstanding). Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.018 (vs CN¥0.10 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.018 (down from CN¥0.10 in 3Q 2022). Revenue: CN¥225.1m (down 33% from 3Q 2022). Net income: CN¥7.96m (down 84% from 3Q 2022). Profit margin: 3.5% (down from 14% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. New Risk • Sep 14
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 7.1% 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: 101% Paying a dividend despite having no free cash flows. Minor Risk Shareholders have been diluted in the past year (7.1% increase in shares outstanding). Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: CN¥0.02 (vs CN¥0.046 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.02 (down from CN¥0.046 in 2Q 2022). Revenue: CN¥228.9m (down 17% from 2Q 2022). Net income: CN¥11.0m (down 56% from 2Q 2022). Profit margin: 4.8% (down from 9.2% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 14% per year. Board Change • Jun 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Independent Director Na Li was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • May 20
Shenzhen Changhong Technology Co., Ltd. Announces Final Dividend for 2022, Payable on 26 May 2023 Shenzhen Changhong Technology Co., Ltd. announced final cash dividend of CNY 2.00000000 per 10 shares (tax included) for 2022. Record date is 25 May 2023. Ex-date is 26 May 2023. Payment date is 26 May 2023. Reported Earnings • Apr 26
First quarter 2023 earnings released: EPS: CN¥0.06 (vs CN¥0.10 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.06 (down from CN¥0.10 in 1Q 2022). Revenue: CN¥285.0m (down 2.9% from 1Q 2022). Net income: CN¥31.6m (down 30% from 1Q 2022). Profit margin: 11% (down from 15% in 1Q 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to CN¥18.30, the stock trades at a trailing P/E ratio of 65.3x. Average trailing P/E is 34x in the Machinery industry in China. Total returns to shareholders of 67% over the past three years. 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. 4 non-independent directors. Independent Director Weiyu Zhong 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¥0.10 (vs CN¥0.084 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.10 (up from CN¥0.084 in 3Q 2021). Revenue: CN¥337.6m (up 7.4% from 3Q 2021). Net income: CN¥48.6m (up 30% from 3Q 2021). Profit margin: 14% (up from 12% in 3Q 2021). The increase in margin was driven by higher revenue. 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 33% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥19.05, the stock trades at a trailing P/E ratio of 73.9x. Average trailing P/E is 33x in the Machinery industry in China. Total returns to shareholders of 132% over the past three years. Valuation Update With 7 Day Price Move • Sep 23
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥17.44, the stock trades at a trailing P/E ratio of 67.6x. Average trailing P/E is 35x in the Machinery industry in China. Total returns to shareholders of 110% over the past three years. Board Change • Sep 06
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. 4 non-independent directors. Independent Director Weiyu Zhong 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. Valuation Update With 7 Day Price Move • Aug 24
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥18.87, the stock trades at a trailing P/E ratio of 73.2x. Average trailing P/E is 38x in the Machinery industry in China. Total returns to shareholders of 101% over the past three years. Reported Earnings • Aug 18
Second quarter 2022 earnings released: EPS: CN¥0.046 (vs CN¥0.036 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.046 (up from CN¥0.036 in 2Q 2021). Revenue: CN¥275.1m (flat on 2Q 2021). Net income: CN¥25.2m (up 76% from 2Q 2021). Profit margin: 9.2% (up from 5.2% in 2Q 2021). 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 30% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: CN¥0.10 (vs CN¥0.08 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.10 (up from CN¥0.08 in 1Q 2021). Revenue: CN¥293.5m (up 7.3% from 1Q 2021). Net income: CN¥45.0m (up 14% from 1Q 2021). Profit margin: 15% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 32% per year. 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. 9 experienced directors. No highly experienced directors. 2 independent directors (4 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 16
Full year 2021 earnings released: EPS: CN¥0.25 (vs CN¥0.38 in FY 2020) Full year 2021 results: EPS: CN¥0.25 (down from CN¥0.38 in FY 2020). Revenue: CN¥1.13b (flat on FY 2020). Net income: CN¥111.8m (down 34% from FY 2020). Profit margin: 9.9% (down from 15% in FY 2020). Over the last 3 years on average, earnings per share has increased by 38% per year whereas the company’s share price has increased by 41% per year. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.084 (vs CN¥0.085 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¥314.4m (up 8.6% from 3Q 2020). Net income: CN¥37.5m (down 12% from 3Q 2020). Profit margin: 12% (down from 15% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has increased by 90% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 20
Second quarter 2021 earnings released: EPS CN¥0.036 (vs CN¥0.15 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥275.5m (down 18% from 2Q 2020). Net income: CN¥14.3m (down 83% from 2Q 2020). Profit margin: 5.2% (down from 26% in 2Q 2020). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has increased by 68% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥23.72, the stock trades at a trailing P/E ratio of 57x. Average trailing P/E is 34x in the Machinery industry in China. Total returns to shareholders of 333% over the past three years. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 23% share price gain to CN¥32.49, the stock trades at a trailing P/E ratio of 78x. Average trailing P/E is 32x in the Machinery industry in China. Total returns to shareholders of 376% over the past three years. Announcement • May 28
Shenzhen Changhong Technology Co., Ltd. Announces Final Dividend for 2020, Payable on 2 June 2021 Shenzhen Changhong Technology Co., Ltd. announced final cash dividend/10 shares (A shares) (tax included) of CNY 2.00000000 for 2020. Record date is 01 June 2021. Ex-date is 02 June 2021. Payment date is 02 June 2021. Announcement • May 20
Shenzhen Changhong Technology Co., Ltd. Approves Final Cash Dividend for the Year 2020 Shenzhen Changhong Technology Co., Ltd. announced at the AGM held on May 17, 2021 that the company approves final profit distribution of CNY 2.00000000 per 10 shares (tax included) for 2020. Announcement • Mar 09
Shenzhen Changhong Technology Co., Ltd. to Report Fiscal Year 2020 Results on Apr 23, 2021 Shenzhen Changhong Technology Co., Ltd. announced that they will report fiscal year 2020 results on Apr 23, 2021 Is New 90 Day High Low • Jan 21
New 90-day high: CN¥31.89 The company is up 33% from its price of CN¥23.90 on 23 October 2020. The Chinese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 8.0% over the same period. Is New 90 Day High Low • Jan 05
New 90-day high: CN¥29.18 The company is up 43% from its price of CN¥20.39 on 30 September 2020. The Chinese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 10.0% over the same period. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥156.4m, up 143% from the prior year. Total revenue was CN¥1.00b over the last 12 months, up 38% from the prior year. Is New 90 Day High Low • Oct 29
New 90-day high: CN¥26.08 The company is up 18% from its price of CN¥22.14 on 31 July 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 4.0% over the same period. Announcement • Aug 24
Shenzhen Changhong Technology Co., Ltd. announced a financing transaction Shenzhen Changhong Technology Co., Ltd. (SZSE:300151) announced a private placement of convertible bonds on August 20, 2020. The transaction will include participation from non-specific parties. The transaction has been approved by the shareholders at the company's 2nd extraordinary general meeting of 2020. Announcement • Aug 10
Shenzhen Changhong Technology Co., Ltd. to Report First Half, 2020 Results on Aug 26, 2020 Shenzhen Changhong Technology Co., Ltd. announced that they will report first half, 2020 results on Aug 26, 2020