Announcement • Jun 30
Anhui Xinke New Materials Co.,Ltd to Report First Half, 2026 Results on Aug 11, 2026 Anhui Xinke New Materials Co.,Ltd announced that they will report first half, 2026 results on Aug 11, 2026 New Risk • Jun 10
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 8.6% 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 Interest payments are not well covered by earnings (2.5x net interest cover). Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Profit margins are more than 30% lower than last year (0.8% net profit margin). Reported Earnings • Apr 30
First quarter 2026 earnings released: EPS: CN¥0.009 (vs CN¥0.005 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.009 (up from CN¥0.005 in 1Q 2025). Revenue: CN¥1.21b (up 18% from 1Q 2025). Net income: CN¥16.5m (up 84% from 1Q 2025). Profit margin: 1.4% (up from 0.9% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. New Risk • Apr 12
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 73% 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: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.7% net profit margin). Reported Earnings • Mar 31
Full year 2025 earnings released: EPS: CN¥0.02 (vs CN¥0.03 in FY 2024) Full year 2025 results: EPS: CN¥0.02 (down from CN¥0.03 in FY 2024). Revenue: CN¥4.75b (up 20% from FY 2024). Net income: CN¥30.9m (down 51% from FY 2024). Profit margin: 0.7% (down from 1.6% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 11% per year. Announcement • Mar 31
Anhui Xinke New Materials Co.,Ltd, Annual General Meeting, Apr 20, 2026 Anhui Xinke New Materials Co.,Ltd, Annual General Meeting, Apr 20, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Wuhu, Anhui China Announcement • Mar 30
Anhui Xinke New Materials Co.,Ltd to Report Q1, 2026 Results on Apr 29, 2026 Anhui Xinke New Materials Co.,Ltd announced that they will report Q1, 2026 results on Apr 29, 2026 Announcement • Dec 26
Anhui Xinke New Materials Co.,Ltd to Report Fiscal Year 2025 Results on Apr 23, 2026 Anhui Xinke New Materials Co.,Ltd announced that they will report fiscal year 2025 results on Apr 23, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0 (vs CN¥0.003 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0 (down from CN¥0.003 in 3Q 2024). Revenue: CN¥1.25b (up 23% from 3Q 2024). Net loss: CN¥160.6k (down 103% from profit in 3Q 2024). Profit margin: 0% (down from 0.6% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Sep 30
Anhui Xinke New Materials Co.,Ltd to Report Q3, 2025 Results on Oct 30, 2025 Anhui Xinke New Materials Co.,Ltd announced that they will report Q3, 2025 results on Oct 30, 2025 Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: CN¥0.005 (vs CN¥0.015 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.005 (down from CN¥0.015 in 2Q 2024). Revenue: CN¥1.15b (up 20% from 2Q 2024). Net income: CN¥10.8m (down 58% from 2Q 2024). Profit margin: 0.9% (down from 2.7% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • Jul 03
Anhui Xinke New Materials Co.,Ltd to Report First Half, 2025 Results on Aug 22, 2025 Anhui Xinke New Materials Co.,Ltd announced that they will report first half, 2025 results on Aug 22, 2025 Reported Earnings • May 05
First quarter 2025 earnings released: EPS: CN¥0.005 (vs CN¥0.005 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.005 (in line with 1Q 2024). Revenue: CN¥1.02b (up 14% from 1Q 2024). Net income: CN¥8.93m (up 5.4% from 1Q 2024). Profit margin: 0.9% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Reported Earnings • Mar 30
Full year 2024 earnings released: EPS: CN¥0.03 (vs CN¥0.034 loss in FY 2023) Full year 2024 results: EPS: CN¥0.03 (up from CN¥0.034 loss in FY 2023). Revenue: CN¥3.96b (up 24% from FY 2023). Net income: CN¥62.4m (up CN¥123.6m from FY 2023). Profit margin: 1.6% (up from net loss in FY 2023). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Announcement • Mar 29
Anhui Xinke New Materials Co.,Ltd, Annual General Meeting, Apr 29, 2025 Anhui Xinke New Materials Co.,Ltd, Annual General Meeting, Apr 29, 2025, at 14:30 China Standard Time. Location: The Company's Meeting Room, Wuhu, Anhui China Announcement • Mar 28
Anhui Xinke New Materials Co.,Ltd to Report Q1, 2025 Results on Apr 30, 2025 Anhui Xinke New Materials Co.,Ltd announced that they will report Q1, 2025 results on Apr 30, 2025 New Risk • Dec 31
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 11% 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 27
Anhui Xinke New Materials Co.,Ltd to Report Fiscal Year 2024 Results on Mar 29, 2025 Anhui Xinke New Materials Co.,Ltd announced that they will report fiscal year 2024 results on Mar 29, 2025 Announcement • Sep 30
Anhui Xinke New Materials Co.,Ltd to Report Q3, 2024 Results on Oct 30, 2024 Anhui Xinke New Materials Co.,Ltd announced that they will report Q3, 2024 results on Oct 30, 2024 Announcement • Jun 28
Anhui Xinke New Materials Co.,Ltd to Report First Half, 2024 Results on Aug 10, 2024 Anhui Xinke New Materials Co.,Ltd announced that they will report first half, 2024 results on Aug 10, 2024 Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: CN¥0.005 (vs CN¥0.005 loss in 1Q 2023) First quarter 2024 results: EPS: CN¥0.005 (up from CN¥0.005 loss in 1Q 2023). Revenue: CN¥900.1m (up 9.6% from 1Q 2023). Net income: CN¥8.47m (up CN¥17.1m from 1Q 2023). Profit margin: 0.9% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 31
Full year 2023 earnings released: CN¥0.03 loss per share (vs CN¥0.054 profit in FY 2022) Full year 2023 results: CN¥0.03 loss per share (down from CN¥0.054 profit in FY 2022). Revenue: CN¥3.20b (up 3.4% from FY 2022). Net loss: CN¥61.3m (down 163% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 48% 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 • Mar 30
Anhui Xinke New Materials Co.,Ltd, Annual General Meeting, May 06, 2024 Anhui Xinke New Materials Co.,Ltd, Annual General Meeting, May 06, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Wuhu, Anhui China Announcement • Mar 29
Anhui Xinke New Materials Co.,Ltd to Report Q1, 2024 Results on Apr 30, 2024 Anhui Xinke New Materials Co.,Ltd announced that they will report Q1, 2024 results on Apr 30, 2024 New Risk • Feb 05
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 6.6% 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 30
Anhui Xinke New Materials Co.,Ltd to Report Fiscal Year 2023 Results on Mar 30, 2024 Anhui Xinke New Materials Co.,Ltd announced that they will report fiscal year 2023 results on Mar 30, 2024 Reported Earnings • Oct 21
Third quarter 2023 earnings released: CN¥0.12 loss per share (vs CN¥0.042 profit in 3Q 2022) Third quarter 2023 results: CN¥0.12 loss per share (down from CN¥0.042 profit in 3Q 2022). Revenue: CN¥826.7m (up 11% from 3Q 2022). Net loss: CN¥9.17m (down 123% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Anhui Xinke New Materials Co.,Ltd to Report Q3, 2023 Results on Oct 17, 2023 Anhui Xinke New Materials Co.,Ltd announced that they will report Q3, 2023 results on Oct 17, 2023 New Risk • Sep 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.0% 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: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.3% net profit margin). Shareholders have been diluted in the past year (2.0% increase in shares outstanding). New Risk • Aug 29
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.3% Last year net profit margin: 2.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.3% net profit margin). Announcement • Jun 28
Anhui Xinke New Materials Co.,Ltd to Report First Half, 2023 Results on Aug 29, 2023 Anhui Xinke New Materials Co.,Ltd announced that they will report first half, 2023 results on Aug 29, 2023 Reported Earnings • Mar 11
Full year 2022 earnings released: EPS: CN¥0.05 (vs CN¥0.033 in FY 2021) Full year 2022 results: EPS: CN¥0.05 (up from CN¥0.033 in FY 2021). Revenue: CN¥3.09b (down 4.7% from FY 2021). Net income: CN¥97.7m (up 66% from FY 2021). Profit margin: 3.2% (up from 1.8% in FY 2021). Over the last 3 years on average, earnings per share has increased by 122% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Announcement • Dec 30
Sichuan Rongxin Hongzi Technology Co., Ltd completed the acquisition of 9.82% stakes in Anhui Xinke New Materials Co.,Ltd (SHSE:600255) from Khorgos Chuanshan Culture Media Co., Ltd. Sichuan Rongxin Hongzi Technology Co., Ltd signed a share trasnfer agreement to acquire 9.82% stakes in Anhui Xinke New Materials Co.,Ltd (SHSE:600255) from Khorgos Chuanshan Culture Media Co., Ltd. for CNY 510 million on August 18, 2022. Sichuan Rongxin Hongzi Technology Co., Ltd will acquire 176.959400 million shares at a prce of CNY 2.88 per share representing 9.82% stakes. The trasnaction is subject to approval by regulatory board /committee. Transaction is expected to close on December 31, 2022, otherwise the agreement will be automatically terminated and Chuanshan Culture must unconditionally and fully refund the payment to the designated account of Sichuan Rongxin according to the time limit required by Sichuan Rongxin.
Sichuan Rongxin Hongzi Technology Co., Ltd completed the acquisition of 9.82% stakes in Anhui Xinke New Materials Co.,Ltd (SHSE:600255) from Khorgos Chuanshan Culture Media Co., Ltd. on December 26, 2022. Board Change • Nov 16
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. 9 experienced directors. No highly experienced 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: Insufficient board refreshment. Reported Earnings • Oct 30
Third quarter 2022 earnings released: EPS: CN¥0.042 (vs CN¥0.058 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.042. Revenue: CN¥746.2m (down 14% from 3Q 2021). Net income: CN¥40.2m (up 109% from 3Q 2021). Profit margin: 5.4% (up from 2.2% in 3Q 2021). Reported Earnings • Aug 17
Second quarter 2022 earnings released: EPS: CN¥0.017 (vs CN¥0.01 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.017 (up from CN¥0.01 in 2Q 2021). Revenue: CN¥817.2m (down 8.5% from 2Q 2021). Net income: CN¥49.0m (up 115% from 2Q 2021). Profit margin: 6.0% (up from 2.6% in 2Q 2021). Over the next year, revenue is forecast to grow 48%, compared to a 32% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • Jul 07
Anhui Xinke New Materials Co.,Ltd announced that it expects to receive CNY 1.0659 billion in funding from Sichuan Rongxin Hongzi Technology Co., Ltd Anhui Xinke New Materials Co.,Ltd announced a private placement of not more than 510,000,000 shares and the issue price is CNY 2.09 per share for gross proceeds of not more than CNY 1,065,900,000 on July 6, 2022. The transaction included participation from Sichuan Rongxin Hongzi Technology Co., Ltd. . The issue price is 80% of the average trading price of the company's stock in the 20 trading days before the pricing. The shares cannot be transferred within 18 months from the issuance closing date. The transaction has been approved in the 21st meeting of the company's eighth board of directors and is subject to the approvals of the company’s shareholders and the China Securities Regulatory Commission. The validity period of the resolution on the non-public offering of shares is 12 months from the date of deliberation and approval at the general meeting of shareholders. After the completion of the transaction Sichuan Rongxin will become the controlling shareholder of the company. Reported Earnings • Apr 27
First quarter 2022 earnings released: EPS: CN¥0.01 (vs CN¥0.01 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.01 (vs CN¥0.01 in 1Q 2021). Revenue: CN¥829.3m (up 25% from 1Q 2021). Net income: CN¥13.9m (down 36% from 1Q 2021). Profit margin: 1.7% (down from 3.2% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 30%, compared to a 35% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Board Change • Apr 27
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. 9 experienced directors. No highly experienced 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: Insufficient board refreshment. Reported Earnings • Mar 02
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: CN¥0.03 (vs CN¥0.03 in FY 2020). Revenue: CN¥3.25b (up 45% from FY 2020). Net income: CN¥58.9m (down 3.8% from FY 2020). Profit margin: 1.8% (down from 2.7% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.8%. Over the next year, revenue is forecast to grow 21%, compared to a 10,607% growth forecast for the mining industry in China. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Buying Opportunity • Feb 18
Now 21% undervalued Over the last 90 days, the stock is up 34%. The fair value is estimated to be CN¥3.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 28% per annum over the last 3 years. The company has become profitable over the last year. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS CN¥0.01 (vs CN¥0.077 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥892.9m (up 11% from 2Q 2020). Net income: CN¥22.8m (down 78% from 2Q 2020). Profit margin: 2.6% (down from 13% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 28
First quarter 2021 earnings released: EPS CN¥0.01 (vs CN¥0.02 loss in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: CN¥666.2m (down 20% from 1Q 2020). Net income: CN¥21.6m (up CN¥64.5m from 1Q 2020). Profit margin: 3.2% (up from net loss in 1Q 2020). Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥2.32, the stock trades at a trailing P/E ratio of 77.3x. Average trailing P/E is 32x in the Metals and Mining industry in China. Total returns to shareholders of 92% over the past year. Reported Earnings • Mar 02
Full year 2020 earnings released: EPS CN¥0.03 (vs CN¥0.64 loss 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¥2.24b (down 37% from FY 2019). Net income: CN¥61.2m (up CN¥1.19b from FY 2019). Profit margin: 2.7% (up from net loss in FY 2019). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Mar 01
New 90-day high: CN¥2.12 The company is up 19% from its price of CN¥1.78 on 01 December 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 10.0% over the same period. Announcement • Jan 21
Anhui Xinke New Materials Co., Ltd. to Report Fiscal Year 2020 Results on Mar 02, 2021 Anhui Xinke New Materials Co., Ltd. announced that they will report fiscal year 2020 results on Mar 02, 2021 Is New 90 Day High Low • Dec 16
New 90-day high: CN¥2.08 The company is up 59% from its price of CN¥1.31 on 17 September 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 5.0% over the same period. Is New 90 Day High Low • Nov 09
New 90-day high: CN¥1.50 The company is up 22% from its price of CN¥1.23 on 11 August 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 5.0% over the same period. Reported Earnings • Nov 03
Third quarter 2020 earnings released: EPS CN¥0.006 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: CN¥750.6m (down 22% from 3Q 2019). Net income: CN¥12.1m (up CN¥60.4m from 3Q 2019). Profit margin: 1.6% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 70% per year but the company’s share price has only fallen by 32% per year, which means it has not declined as severely as earnings. Announcement • Oct 27
Kingswood Enterprise Co., Ltd. to Report Q3, 2020 Results on Oct 30, 2020 Kingswood Enterprise Co., Ltd. announced that they will report Q3, 2020 results on Oct 30, 2020 Announcement • Aug 06
Wuhu Chuheng Investment Management Center cancelled the acquisition of additional 12.7% stake in Kingswood Enterprise Co., Ltd. (SHSE:600255). Wuhu Chuheng Investment Management Center made an offer to acquire an additional 12.7% stake in Kingswood Enterprise Co., Ltd. (SHSE:600255) for approximately CNY 270 million on May 28, 2020. Wuhu Chuheng Investment Management Center will acquire 224.7 million shares of Kingswood Enterprise for CNY 1.2 per share. Post acquisition, Wuhu Chuheng Investment Management Center will hold 15% of the shares of Kingswood Enterprise Co., Ltd. As of June 15, 2020, Board of Kingswood Enterprise Co., Ltd. approved the deal. The tender offer period totals 60 days, and the period is from June 5, 2020 to August 3, 2020. Chen Jianjian, Li Chang and Zhang Jiyuan, Shi Yunhao of CITIC Securities Company Limited (SHSE:600030) acted as financial advisor and Zhang Yongliang, Song Yanyan and Dong Yangguang of Beijing King & Wood Law Firm acted as legal advisor for Wuhu Chuheng Investment Management Center.
Wuhu Chuheng Investment Management Center cancelled the acquisition of additional 12.7% stake in Kingswood Enterprise Co., Ltd. (SHSE:600255) on August 3, 2020. According to statistics provided by China Registration and Settlement Co., Ltd. Shanghai Branch, during the tender offer period 28,445,878 shares were accepted the offer. In the end, the number of shares pre-accepted for the tender offer was less than the number scheduled to be acquired by the purchaser, and this tender offer failed. Announcement • Jul 30
Kingswood Enterprise Co., Ltd. (SHSE:600255) completed the acquisition of remaining 40% stake in Furukawa Metal (Wuxi) Co., Ltd. from Furukawa Electric Co., Ltd. (TSE:5801). Kingswood Enterprise Co., Ltd. (SHSE:600255) agreed to acquire remaining 40% stake in Furukawa Metal (Wuxi) Co., Ltd. from Furukawa Electric Co., Ltd. (TSE:5801) for approximately CNY 130 million on May 6, 2020. As of December 31, 2019, Furukawa Metal (Wuxi) Co., Ltd. recorded total revenues CNY 520.72 million, perating profit of CNY 48.46 million, net profit of CNY 36.05 million, total assets of CNY 397.87 million and total common equity of CNY 357.47 million.
Kingswood Enterprise Co., Ltd. (SHSE:600255) completed the acquisition of remaining 40% stake in Furukawa Metal (Wuxi) Co., Ltd. from Furukawa Electric Co., Ltd. (TSE:5801) on June 5, 2020. 
