Reported Earnings • Apr 30
First quarter 2026 earnings released: EPS: CN¥0.12 (vs CN¥0.12 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.12 (in line with 1Q 2025). Revenue: CN¥3.04b (down 3.9% from 1Q 2025). Net income: CN¥299.0m (up 5.1% from 1Q 2025). Profit margin: 9.8% (in line with 1Q 2025). 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 21% per year, which means it is significantly lagging earnings growth. Announcement • Mar 31
Zhongshan Broad-Ocean Motor Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Zhongshan Broad-Ocean Motor Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Board Change • Mar 26
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Liang Chen was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 24
Full year 2025 earnings released: EPS: CN¥0.44 (vs CN¥0.37 in FY 2024) Full year 2025 results: EPS: CN¥0.44 (up from CN¥0.37 in FY 2024). Revenue: CN¥12.2b (flat on FY 2024). Net income: CN¥1.08b (up 22% from FY 2024). Profit margin: 8.9% (up from 7.3% in FY 2024). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • Mar 23
Zhongshan Broad-Ocean Motor Co., Ltd., Annual General Meeting, Apr 16, 2026 Zhongshan Broad-Ocean Motor Co., Ltd., Annual General Meeting, Apr 16, 2026, at 14:00 China Standard Time. Location: Meeting Room of the Company's Guangfeng Plant, Zhongshan, Guangdong China Buy Or Sell Opportunity • Jan 20
Now 24% overvalued Over the last 90 days, the stock has fallen 4.8% to CN¥11.66. The fair value is estimated to be CN¥9.40, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has grown by 36%. Announcement • Dec 31
Zhongshan Broad-Ocean Motor Co., Ltd. to Report Fiscal Year 2025 Results on Mar 24, 2026 Zhongshan Broad-Ocean Motor Co., Ltd. announced that they will report fiscal year 2025 results on Mar 24, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.10 (vs CN¥0.09 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.10 (up from CN¥0.09 in 3Q 2024). Revenue: CN¥2.94b (down 3.5% from 3Q 2024). Net income: CN¥242.9m (up 8.9% from 3Q 2024). Profit margin: 8.3% (up from 7.3% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to CN¥13.09, the stock trades at a trailing P/E ratio of 30.6x. Average trailing P/E is 52x in the Electrical industry in China. Total returns to shareholders of 176% over the past three years. Buy Or Sell Opportunity • Oct 15
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 63% to CN¥11.07. The fair value is estimated to be CN¥9.17, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.1% over the last 3 years. Earnings per share has grown by 36%. Declared Dividend • Oct 13
First half dividend increased to CN¥0.10 Dividend of CN¥0.10 is 67% higher than last year. Ex-date: 17th October 2025 Payment date: 17th October 2025 Dividend yield will be 2.1%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by both earnings (54% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 3.4% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 42% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Sep 30
Zhongshan Broad-Ocean Motor Co., Ltd. to Report Q3, 2025 Results on Oct 29, 2025 Zhongshan Broad-Ocean Motor Co., Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 Buy Or Sell Opportunity • Sep 23
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 77% to CN¥11.69. The fair value is estimated to be CN¥9.49, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.1% over the last 3 years. Earnings per share has grown by 36%. New Risk • Sep 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 7.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: 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 (7.2% average weekly change). Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥10.34, the stock trades at a trailing P/E ratio of 24.1x. Average trailing P/E is 52x in the Electrical industry in China. Total returns to shareholders of 113% over the past three years. Buy Or Sell Opportunity • Sep 04
Now 21% undervalued Over the last 90 days, the stock has risen 16% to CN¥7.69. The fair value is estimated to be CN¥9.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.1% over the last 3 years. Earnings per share has grown by 36%. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥8.00, the stock trades at a trailing P/E ratio of 20.1x. Average trailing P/E is 46x in the Electrical industry in China. Total returns to shareholders of 38% over the past three years. Board Change • Jul 03
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Liang Chen was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 02
Zhongshan Broad-Ocean Motor Co., Ltd. to Report First Half, 2025 Results on Aug 26, 2025 Zhongshan Broad-Ocean Motor Co., Ltd. announced that they will report first half, 2025 results on Aug 26, 2025 Board Change • Jun 01
High number of new directors Independent Director Liang Chen was the last director to join the board, commencing their role in 2025. Reported Earnings • Apr 27
Full year 2024 earnings released: EPS: CN¥0.37 (vs CN¥0.26 in FY 2023) Full year 2024 results: EPS: CN¥0.37 (up from CN¥0.26 in FY 2023). Revenue: CN¥12.1b (up 7.3% from FY 2023). Net income: CN¥887.5m (up 41% from FY 2023). Profit margin: 7.3% (up from 5.6% 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 38% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Apr 26
Zhongshan Broad-Ocean Motor Co., Ltd., Annual General Meeting, May 20, 2025 Zhongshan Broad-Ocean Motor Co., Ltd., Annual General Meeting, May 20, 2025, at 13:30 China Standard Time. Location: No. 28, Xidi Road, Zhongshan, Guangdong China Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to CN¥6.05, the stock trades at a trailing P/E ratio of 19x. Average trailing P/E is 34x in the Electrical industry in China. Total returns to shareholders of 18% over the past three years. Announcement • Mar 31
Zhongshan Broad-Ocean Motor Co., Ltd. to Report Q1, 2025 Results on Apr 28, 2025 Zhongshan Broad-Ocean Motor Co., Ltd. announced that they will report Q1, 2025 results on Apr 28, 2025 Announcement • Dec 31
Zhongshan Broad-Ocean Motor Co., Ltd. to Report Fiscal Year 2024 Results on Apr 26, 2025 Zhongshan Broad-Ocean Motor Co., Ltd. announced that they will report fiscal year 2024 results on Apr 26, 2025 Announcement • Nov 14
Zhongshan Broad-Ocean Motor Co., Ltd. (SZSE:002249) announces an Equity Buyback for CNY 200 million worth of its shares. Zhongshan Broad-Ocean Motor Co., Ltd. (SZSE:002249) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 200 million worth of its shares. The shares will be repurchased at a price not more than CNY 7 per share. The repurchased shares will be used to implement the employee stock ownership plans or equity incentive plans. The program will be funded from the company's own funds and funds from a special loan for stock repurchase. The program will be not more than 12 months Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.09 (vs CN¥0.06 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.09 (up from CN¥0.06 in 3Q 2023). Revenue: CN¥3.05b (up 5.2% from 3Q 2023). Net income: CN¥222.9m (up 54% from 3Q 2023). Profit margin: 7.3% (up from 5.0% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Declared Dividend • Oct 14
First half dividend of CN¥0.06 announced Shareholders will receive a dividend of CN¥0.06. Ex-date: 16th October 2024 Payment date: 16th October 2024 Dividend yield will be 3.6%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 9.5% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 73% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Sep 30
Zhongshan Broad-Ocean Motor Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Zhongshan Broad-Ocean Motor 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 16% After last week's 16% share price gain to CN¥5.56, the stock trades at a trailing P/E ratio of 19.4x. Average trailing P/E is 29x in the Electrical industry in China. Total loss to shareholders of 10% over the past three years. Reported Earnings • Aug 27
Second quarter 2024 earnings released: EPS: CN¥0.10 (vs CN¥0.09 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.10 (up from CN¥0.09 in 2Q 2023). Revenue: CN¥3.08b (up 6.0% from 2Q 2023). Net income: CN¥239.3m (up 10% from 2Q 2023). Profit margin: 7.8% (up from 7.5% 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 36% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Announcement • Jun 29
Zhongshan Broad-Ocean Motor Co., Ltd. to Report First Half, 2024 Results on Aug 27, 2024 Zhongshan Broad-Ocean Motor Co., Ltd. announced that they will report first half, 2024 results on Aug 27, 2024 Announcement • May 26
Zhongshan Broad-Ocean Motor Co., Ltd., Annual General Meeting, Jun 18, 2024 Zhongshan Broad-Ocean Motor Co., Ltd., Annual General Meeting, Jun 18, 2024, at 14:00 China Standard Time. Reported Earnings • Apr 24
First quarter 2024 earnings released: EPS: CN¥0.09 (vs CN¥0.07 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.09 (up from CN¥0.07 in 1Q 2023). Revenue: CN¥2.72b (flat on 1Q 2023). Net income: CN¥208.4m (up 23% from 1Q 2023). Profit margin: 7.7% (up from 6.3% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Board Change • Apr 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. Independent Director Jingxia Shi was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Mar 30
Zhongshan Broad-Ocean Motor Co., Ltd. to Report Q1, 2024 Results on Apr 23, 2024 Zhongshan Broad-Ocean Motor Co., Ltd. announced that they will report Q1, 2024 results on Apr 23, 2024 Announcement • Feb 20
Zhongshan Broad-Ocean Motor Co., Ltd. (SZSE:002249) announces an Equity Buyback for CNY 80 million worth of its shares. Zhongshan Broad-Ocean Motor Co., Ltd. (SZSE:002249) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 80 million worth of its shares. The shares will be repurchased at a price not more than CNY 5.5 per share. The repurchased shares will be used to implement the employee stock ownership plans or equity incentive plans. The program will be funded from the company's own funds. The program will be not more than 12 months. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥3.82, the stock trades at a trailing P/E ratio of 17.9x. Average trailing P/E is 26x in the Electrical industry in China. Total loss to shareholders of 5.3% over the past three years. Announcement • Dec 30
Zhongshan Broad-Ocean Motor Co., Ltd. to Report Fiscal Year 2023 Results on Apr 23, 2024 Zhongshan Broad-Ocean Motor Co., Ltd. announced that they will report fiscal year 2023 results on Apr 23, 2024 Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.06 (vs CN¥0.051 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.06 (up from CN¥0.051 in 3Q 2022). Revenue: CN¥2.89b (up 9.5% from 3Q 2022). Net income: CN¥145.0m (up 17% from 3Q 2022). Profit margin: 5.0% (up from 4.7% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Sep 21
Zhongshan Broad-Ocean Motor Co., Ltd. Announces Interim Dividend Zhongshan Broad-Ocean Motor Co., Ltd. held its 3rd Extraordinary General Meeting of 2023 on 19 September 2023 approved Cash dividend/10 shares (tax included): CNY 0.80000000 for interim dividend. Announcement • Aug 25
Zhongshan Broad-Ocean Motor Co., Ltd. Announces Interim Dividend Profit Distribution Proposal for the First Half of 2023 Zhongshan Broad-Ocean Motor Co., Ltd. announced on 23 August 2023 the profit distribution proposal for the first half of 2023 as follows: Cash dividend/10 shares (tax included): CNY 0.80000000. Reported Earnings • Aug 23
Second quarter 2023 earnings released: EPS: CN¥0.09 (vs CN¥0.081 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.09 (up from CN¥0.081 in 2Q 2022). Revenue: CN¥2.90b (up 2.8% from 2Q 2022). Net income: CN¥217.4m (up 23% from 2Q 2022). Profit margin: 7.5% (up from 6.3% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Jul 01
Zhongshan Broad-Ocean Motor Co., Ltd. to Report First Half, 2023 Results on Aug 23, 2023 Zhongshan Broad-Ocean Motor Co., Ltd. announced that they will report first half, 2023 results on Aug 23, 2023 Announcement • Jun 03
Zhongshan Broad-Ocean Motor Co., Ltd. Announces Final Profit Distribution Plan to Be Implemented on A Shares for the Year 2022, Payable on 09 June 2023 Zhongshan Broad-Ocean Motor Co., Ltd. announced final profit distribution plan to be implemented on A shares as cash dividend per ten shares (tax included) of CNY 0.80000000 for the year 2022, payable on 09 June 2023. Record date is 08 June 2023. Ex-date is 09 June 2023. Announcement • May 20
Zhongshan Broad-Ocean Motor Co. Approves Cash Dividend for 2022 Zhongshan Broad-Ocean Motor Co., Ltd. at its AGM held on May 18, 2023 approved the profit distribution proposal for 2022 as follows: Cash dividend/10 shares (tax included) of CNY 0.80000000. Reported Earnings • Apr 26
First quarter 2023 earnings released: EPS: CN¥0.07 (vs CN¥0.06 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.07 (up from CN¥0.06 in 1Q 2022). Revenue: CN¥2.70b (flat on 1Q 2022). Net income: CN¥170.0m (up 16% from 1Q 2022). Profit margin: 6.3% (up from 5.5% in 1Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 16
Price target increased to CN¥3.50 Up from CN¥2.90, the current price target is provided by 1 analyst. New target price is 37% below last closing price of CN¥5.54. Stock is down 32% over the past year. The company is forecast to post earnings per share of CN¥0.14 for next year compared to CN¥0.11 last year. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.051 (vs CN¥0.061 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.051 (down from CN¥0.061 in 3Q 2021). Revenue: CN¥2.64b (down 1.1% from 3Q 2021). Net income: CN¥124.5m (down 6.7% from 3Q 2021). Profit margin: 4.7% (down from 5.0% in 3Q 2021). Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 26% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has increased by 124% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Sep 23
Zhongshan Broad-Ocean Motor Co., Ltd. Implements Interim Profit Distribution Plan on A Shares for the Year 2022, Payable on 29 September 2022 Zhongshan Broad-Ocean Motor Co., Ltd. announced interim profit distribution plan to be implemented on A shares for the year 2022 as cash dividend per ten shares (tax included) of CNY 0.80000000, payable on 29 September 2022. Record date is 28 September 2022. Ex-date is 29 September 2022. Announcement • Sep 10
Zhongshan Broad-Ocean Motor Co., Ltd. Approves 2022 Interim Profit Distribution Plan Zhongshan Broad-Ocean Motor Co., Ltd. at the Extraordinary General Meeting held on 08 September 2022, approved 2022 interim profit distribution plan, cash dividend (tax included) of CNY 0.80000000 per ten shares. Announcement • Aug 24
Zhongshan Broad-Ocean Motor Co., Ltd. Announces the Profit Distribution Proposal for the First Half of 2022 Zhongshan Broad-Ocean Motor Co., Ltd. announced the profit distribution proposal for the first half of 2022 as cash dividend/10 shares (tax included) of CNY 0.80000000. Reported Earnings • Aug 24
Second quarter 2022 earnings released: EPS: CN¥0.081 (vs CN¥0.042 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.081 (up from CN¥0.042 in 2Q 2021). Revenue: CN¥2.82b (up 16% from 2Q 2021). Net income: CN¥177.2m (up 62% from 2Q 2021). Profit margin: 6.3% (up from 4.5% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 6.1%, compared to a 61% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has increased by 135% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Board Change • Jul 31
High number of new directors Non-Independent Director Yunlong Zhang was the last director to join the board, commencing their role in 2022. Announcement • Jul 27
Zhongshan Broad-Ocean Motor Co., Ltd. Announces 2021 Final Profit Distribution Plan to Be Implemented (A Shares), Payable on 03 August 2022 Zhongshan Broad-Ocean Motor Co., Ltd. announced 2021 final profit distribution plan to be implemented (A shares) of CNY 0.80000000. Record date: 02 August 2022; Ex-date: 03 August 2022 and Payment date: 03 August 2022. Announcement • Jun 09
Zhongshan Broad-Ocean Motor Co., Ltd., Annual General Meeting, Jun 28, 2022 Zhongshan Broad-Ocean Motor Co., Ltd., Annual General Meeting, Jun 28, 2022, at 14:00 China Standard Time. Agenda: To consider Application for comprehensive credit line to banks; to consider 2021 report of the board of directors; to consider 2021 report of the supervisory committee; to consider 2021 annual accounts; to consider 2022 financial budget report; to consider 2021 annual report and its summary; to consider 2021 profit distribution plan; to consider reappointment of audit firm; to consider employee stock ownership plan (draft) and its summary; to consider management measures for the employee stock ownership plan; to consider authorization to the board to handle matters regarding the employee stock ownership plan; to consider 2022 stock option incentive plan (draft) and its summary; to consider appraisal management measures for the implementation of 2022 stock option incentive plan; and to consider other matters. Board Change • Jun 02
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. 12 experienced directors. No highly experienced directors. Independent Director Yu Hou was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Major Estimate Revision • May 07
Consensus EPS estimates increase by 69% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from CN¥10.2b to CN¥11.0b. EPS estimate increased from CN¥0.08 to CN¥0.14 per share. Net income forecast to grow 25% next year vs 56% growth forecast for Electrical industry in China. Consensus price target of CN¥3.50 unchanged from last update. Share price was steady at CN¥4.94 over the past week. Announcement • Apr 27
Zhongshan Broad-Ocean Motor Co., Ltd. Proposes Cash Dividend for 2021 Zhejiang Zhongshan Broad-Ocean Motor Co., Ltd. proposed cash dividend of CNY 0.80000000 (tax included) per 10 shares for 2021. Reported Earnings • Apr 27
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: CN¥0.06 (vs CN¥0.06 in 1Q 2021). Revenue: CN¥2.68b (up 22% from 1Q 2021). Net income: CN¥146.8m (up 13% from 1Q 2021). Profit margin: 5.5% (down from 5.9% in 1Q 2021). Revenue exceeded analyst estimates by 6.8%. Earnings per share (EPS) also surpassed analyst estimates by 48%. Over the next year, revenue is expected to shrink by 1.3% compared to a 51% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 135% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥9.25, the stock trades at a forward P/E ratio of 117x. Average forward P/E is 31x in the Electrical industry in China. Total returns to shareholders of 189% over the past three years. Reported Earnings • Oct 23
Third quarter 2021 earnings released: EPS CN¥0.061 (vs CN¥0.05 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: CN¥2.67b (up 31% from 3Q 2020). Net income: CN¥133.4m (up 9.6% from 3Q 2020). Profit margin: 5.0% (down from 6.0% 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 92% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 21
Upcoming dividend of CN¥0.09 per share Eligible shareholders must have bought the stock before 28 September 2021. Payment date: 28 September 2021. Trailing yield: 1.2%. Lower than top quartile of Chinese dividend payers (1.8%). Higher than average of industry peers (0.6%). Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS CN¥0.042 (vs CN¥0.019 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥2.44b (up 23% from 2Q 2020). Net income: CN¥109.2m (up 106% from 2Q 2020). Profit margin: 4.5% (up from 2.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥5.62, the stock trades at a forward P/E ratio of 79x. Average forward P/E is 27x in the Electrical industry in China. Total returns to shareholders of 32% over the past three years. Major Estimate Revision • May 08
Consensus EPS estimates increase to CN¥0.07 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from CN¥8.07b to CN¥8.37b. EPS estimate increased from CN¥0.061 to CN¥0.07 per share. Net income forecast to shrink 20% next year vs 40% growth forecast for Electrical industry in China . Consensus price target up from CN¥2.60 to CN¥2.90. Share price was steady at CN¥5.02 over the past week. Announcement • Apr 29
Zhongshan Broad-Ocean Motor Co., Ltd. Announces Final Profit Distribution Proposal for 2020 Zhongshan Broad-Ocean Motor Co., Ltd. announced final profit distribution proposal of CNY 0.90000000 per 10 shares (tax included) for 2020. Reported Earnings • Apr 17
Full year 2020 earnings released: EPS CN¥0.04 (vs CN¥0.02 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CN¥7.78b (down 4.5% from FY 2019). Net income: CN¥103.5m (up 93% from FY 2019). Profit margin: 1.3% (up from 0.7% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 7% per year. Is New 90 Day High Low • Mar 05
New 90-day high: CN¥4.98 The company is up 14% from its price of CN¥4.37 on 04 December 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 10.0% over the same period. Announcement • Feb 24
Zhongshan Broad-Ocean Motor Co., Ltd. to Report Fiscal Year 2020 Results on Apr 13, 2021 Zhongshan Broad-Ocean Motor Co., Ltd. announced that they will report fiscal year 2020 results on Apr 13, 2021 Is New 90 Day High Low • Nov 24
New 90-day high: CN¥4.42 The company is up 9.0% from its price of CN¥4.06 on 26 August 2020. The Chinese market is flat over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electrical industry, which is up 11% over the same period. Reported Earnings • Oct 28
Third quarter earnings released Over the last 12 months the company has reported total losses of CN¥13.0m, with losses narrowing by 99% from the prior year. Total revenue was CN¥7.02b over the last 12 months, down 22% from the prior year. Announcement • Oct 20
Zhongshan Broad-Ocean Motor Co., Ltd. to Report Q3, 2020 Results on Oct 27, 2020 Zhongshan Broad-Ocean Motor Co., Ltd. announced that they will report Q3, 2020 results on Oct 27, 2020 Announcement • Jul 31
Zhongshan Broad-Ocean Motor Co., Ltd. to Report First Half, 2020 Results on Aug 22, 2020 Zhongshan Broad-Ocean Motor Co., Ltd. announced that they will report first half, 2020 results on Aug 22, 2020 
