Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥9.13, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 20x in the Auto Components industry in China. Total returns to shareholders of 68% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥4.24 per share. Declared Dividend • May 04
Dividend of CN¥0.22 announced Shareholders will receive a dividend of CN¥0.22. Ex-date: 13th May 2026 Payment date: 13th May 2026 Dividend yield will be 2.4%, which is higher than the industry average of 2.0%. Sustainability & Growth Dividend is covered by both earnings (74% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 37% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 74% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 29
First quarter 2026 earnings released: EPS: CN¥0.13 (vs CN¥0.09 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.13 (up from CN¥0.09 in 1Q 2025). Revenue: CN¥1.27b (up 26% from 1Q 2025). Net income: CN¥145.4m (up 48% from 1Q 2025). Profit margin: 12% (up from 9.8% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥10.74, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 27x in the Machinery industry in China. Total returns to shareholders of 120% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥9.92 per share. Announcement • Mar 31
Tianrun Industry Technology Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Tianrun Industry Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 Reported Earnings • Mar 31
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: CN¥0.33 (up from CN¥0.29 in FY 2024). Revenue: CN¥4.07b (up 13% from FY 2024). Net income: CN¥367.8m (up 11% from FY 2024). Profit margin: 9.0% (down from 9.2% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% 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 increased by 11% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 31
Tianrun Industry Technology Co., Ltd., Annual General Meeting, Apr 22, 2026 Tianrun Industry Technology Co., Ltd., Annual General Meeting, Apr 22, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Weihai, Shandong China New Risk • Mar 23
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: 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 (7.9% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥11.06, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 29x in the Machinery industry in China. Total returns to shareholders of 91% over the past three years. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥8.35, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 27x in the Machinery industry in China. Total returns to shareholders of 48% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥3.48 per share. Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥7.19, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 28x in the Machinery industry in China. Total returns to shareholders of 54% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥3.41 per share. Announcement • Dec 31
Tianrun Industry Technology Co., Ltd. to Report Fiscal Year 2025 Results on Mar 31, 2026 Tianrun Industry Technology Co., Ltd. announced that they will report fiscal year 2025 results on Mar 31, 2026 Reported Earnings • Oct 27
Third quarter 2025 earnings released: EPS: CN¥0.076 (vs CN¥0.075 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.076 (up from CN¥0.075 in 3Q 2024). Revenue: CN¥955.5m (up 10% from 3Q 2024). Net income: CN¥83.4m (flat on 3Q 2024). Profit margin: 8.7% (in line with 3Q 2024). Revenue is forecast to grow 24% 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 increased by 12% per year whereas the company’s share price has increased by 7% per year. Announcement • Sep 30
Tianrun Industry Technology Co., Ltd. to Report Q3, 2025 Results on Oct 27, 2025 Tianrun Industry Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 27, 2025 Reported Earnings • Aug 25
Second quarter 2025 earnings released: EPS: CN¥0.081 (vs CN¥0.085 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.081. Revenue: CN¥943.7m (flat on 2Q 2024). Net income: CN¥98.5m (up 4.9% from 2Q 2024). Profit margin: 10% (in line with 2Q 2024). 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. Announcement • Jul 02
Tianrun Industry Technology Co., Ltd. to Report First Half, 2025 Results on Aug 22, 2025 Tianrun Industry Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 22, 2025 Reported Earnings • May 02
First quarter 2025 earnings released: EPS: CN¥0.09 (vs CN¥0.08 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.09 (up from CN¥0.08 in 1Q 2024). Revenue: CN¥1.00b (up 4.0% from 1Q 2024). Net income: CN¥98.5m (up 6.4% from 1Q 2024). Profit margin: 9.8% (in line with 1Q 2024). Revenue is forecast to grow 18% 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 increased by 2% per year whereas the company’s share price has increased by 5% per year. Board Change • Apr 25
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Chun De Yao was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥5.39, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 19x in the Machinery industry in China. Total loss to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥3.47 per share. Major Estimate Revision • Apr 05
Consensus revenue estimates decrease by 19% The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from CN¥4.83b to CN¥3.91b. EPS estimate unchanged from CN¥0.40 per share at last update. Machinery industry in China expected to see average net income growth of 37% next year. Consensus price target up from CN¥6.28 to CN¥7.50. Share price fell 5.4% to CN¥6.45 over the past week. Announcement • Mar 31
Tianrun Industry Technology Co., Ltd. to Report Q1, 2025 Results on Apr 28, 2025 Tianrun Industry Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 28, 2025 Reported Earnings • Mar 28
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.29 (down from CN¥0.35 in FY 2023). Revenue: CN¥3.62b (down 9.7% from FY 2023). Net income: CN¥332.5m (down 15% from FY 2023). Profit margin: 9.2% (in line with FY 2023). Revenue missed analyst estimates by 16%. Earnings per share (EPS) also missed analyst estimates by 29%. Revenue is forecast to grow 23% p.a. on average during the next 2 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 7% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Mar 28
Tianrun Industry Technology Co., Ltd., Annual General Meeting, Apr 22, 2025 Tianrun Industry Technology Co., Ltd., Annual General Meeting, Apr 22, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Weihai, Shandong China New Risk • Mar 21
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 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.1% average weekly change). Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥8.40, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 23x in the Machinery industry in China. Total returns to shareholders of 19% over the past three years. Announcement • Mar 11
Tianrun Industry Technology Co., Ltd. (SZSE:002283) announces an Equity Buyback for CNY 50 million worth of its shares. Tianrun Industry Technology Co., Ltd. (SZSE:002283) announces a share repurchase program. Under the program, the company will repurchase up to CNY 50 million worth of class A shares. The shares will be repurchased at a price of not more than CNY 9.82 per share. The repurchased shares will be used to implement equity incentive plans or ESOP. The funds for the share repurchase will come from the company's own funds and special loan funds for stock repurchase. The program will be valid till 12 months. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥6.57, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 21x in the Machinery industry in China. Total loss to shareholders of 30% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥3.03 per share. Announcement • Dec 31
Tianrun Industry Technology Co., Ltd. to Report Fiscal Year 2024 Results on Mar 28, 2025 Tianrun Industry Technology Co., Ltd. announced that they will report fiscal year 2024 results on Mar 28, 2025 Valuation Update With 7 Day Price Move • Dec 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥5.71, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 18x in the Machinery industry in China. Total loss to shareholders of 36% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥3.16 per share. Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: CN¥0.075 (vs CN¥0.09 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.075 (down from CN¥0.09 in 3Q 2023). Revenue: CN¥866.2m (down 4.8% from 3Q 2023). Net income: CN¥82.6m (down 16% from 3Q 2023). Profit margin: 9.5% (down from 11% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 17% 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 15% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. Announcement • Sep 30
Tianrun Industry Technology Co., Ltd. to Report Q3, 2024 Results on Oct 26, 2024 Tianrun Industry Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 26, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥4.90, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Machinery industry in China. Total loss to shareholders of 42% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥6.46 per share. Reported Earnings • Aug 23
Second quarter 2024 earnings released: EPS: CN¥0.08 (vs CN¥0.10 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.08 (down from CN¥0.10 in 2Q 2023). Revenue: CN¥937.4m (down 11% from 2Q 2023). Net income: CN¥93.8m (down 12% from 2Q 2023). Profit margin: 10.0% (in line with 2Q 2023). Revenue is forecast to grow 15% 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 22% per year whereas the company’s share price has fallen by 17% per year. Announcement • Jun 29
Tianrun Industry Technology Co., Ltd. to Report First Half, 2024 Results on Aug 23, 2024 Tianrun Industry Technology Co., Ltd. announced that they will report first half, 2024 results on Aug 23, 2024 Buy Or Sell Opportunity • Apr 25
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.9% to CN¥5.19. The fair value is estimated to be CN¥6.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Earnings per share has declined by 26%. Revenue is forecast to grow by 34% in 2 years. Earnings are forecast to grow by 69% in the next 2 years. Announcement • Mar 30
Tianrun Industry Technology Co., Ltd. to Report Q1, 2024 Results on Apr 25, 2024 Tianrun Industry Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 25, 2024 Announcement • Mar 20
Tianrun Industry Technology Co., Ltd., Annual General Meeting, Apr 16, 2024 Tianrun Industry Technology Co., Ltd., Annual General Meeting, Apr 16, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Weihai, Shandong China Reported Earnings • Mar 20
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.35 (up from CN¥0.18 in FY 2022). Revenue: CN¥4.01b (up 28% from FY 2022). Net income: CN¥390.8m (up 92% from FY 2022). Profit margin: 9.8% (up from 6.5% in FY 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) also missed analyst estimates by 5.4%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥4.18, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Machinery industry in China. Total loss to shareholders of 27% over the past three years. Announcement • Dec 30
Tianrun Industry Technology Co., Ltd. to Report Fiscal Year 2023 Results on Mar 20, 2024 Tianrun Industry Technology Co., Ltd. announced that they will report fiscal year 2023 results on Mar 20, 2024 Announcement • Dec 07
Tianrun Industry Technology Co., Ltd. (SZSE:002283) announces an Equity Buyback for CNY 100 million worth of its shares. Tianrun Industry Technology Co., Ltd. (SZSE:002283) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of class A shares. The shares will be repurchased at a price of not more than CNY 9.42 per share. The shares purchased will be used for the company's equity incentive plan or ESOP. The program will be valid till 12 months. Reported Earnings • Oct 25
Third quarter 2023 earnings released: EPS: CN¥0.09 (vs CN¥0.025 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.09 (up from CN¥0.025 in 3Q 2022). Revenue: CN¥909.5m (up 18% from 3Q 2022). Net income: CN¥98.8m (up 222% from 3Q 2022). Profit margin: 11% (up from 4.0% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 21% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
Tianrun Industry Technology Co., Ltd. to Report Q3, 2023 Results on Oct 25, 2023 Tianrun Industry Technology Co., Ltd. announced that they will report Q3, 2023 results on Oct 25, 2023 Reported Earnings • Aug 18
Second quarter 2023 earnings released: EPS: CN¥0.10 (vs CN¥0.035 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.10 (up from CN¥0.035 in 2Q 2022). Revenue: CN¥1.05b (up 64% from 2Q 2022). Net income: CN¥107.1m (up 188% from 2Q 2022). Profit margin: 10% (up from 5.8% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Machinery industry in China. 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 4% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Jul 06
Consensus EPS estimates increase by 19% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from CN¥0.31 to CN¥0.37. Revenue forecast unchanged at CN¥4.22b. Net income forecast to grow 113% next year vs 54% growth forecast for Machinery industry in China. Consensus price target up from CN¥7.50 to CN¥8.87. Share price rose 7.1% to CN¥6.90 over the past week. Announcement • Jul 06
Tianrun Industry Technology Co., Ltd. Announces Final Dividend on A Shares for the Year 2022, Payable on July 12, 2023 Tianrun Industry Technology Co., Ltd. announced final cash dividend/10 shares (tax included) of CNY0.50000000 on A shares for the year 2022. Record date is July 11, 2023. Ex-date is July 12, 2023. Payment date is July 12, 2023. Announcement • Jul 01
Tianrun Industry Technology Co., Ltd. to Report First Half, 2023 Results on Aug 18, 2023 Tianrun Industry Technology Co., Ltd. announced that they will report first half, 2023 results on Aug 18, 2023 Announcement • May 20
Tianrun Industry Technology Co., Ltd. Approves Cash Dividend for the Year 2022 Tianrun Industry Technology Co., Ltd. at the AGM, the shareholders approved cash dividend/10 shares (tax included): CNY 0.50000000 for the year 2022. Reported Earnings • Mar 21
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: CN¥0.18 (down from CN¥0.49 in FY 2021). Revenue: CN¥3.14b (down 34% from FY 2021). Net income: CN¥203.6m (down 62% from FY 2021). Profit margin: 6.5% (down from 12% in FY 2021). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) missed analyst estimates by 10%. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥5.91, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 21x in the Machinery industry in China. Total returns to shareholders of 78% over the past three years. Announcement • Nov 22
Tianrun Industry Technology Co., Ltd. Announces Board Elections Tianrun Industry Technology Co., Ltd. elected Xia Lijun as non-independent director; Wei Anli and Meng Hong as independent directors, at its Extraordinary General Meeting of 2022 held on 18 November 2022. Price Target Changed • Nov 16
Price target decreased to CN¥8.50 Down from CN¥10.00, the current price target is provided by 1 analyst. New target price is 56% above last closing price of CN¥5.45. Stock is down 49% over the past year. The company is forecast to post earnings per share of CN¥0.47 for next year compared to CN¥0.49 last year. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 7 highly experienced directors. 3 independent directors (7 non-independent directors). Independent director Chun De Yao was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 26
Third quarter 2022 earnings released: EPS: CN¥0.025 (vs CN¥0.11 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.025 (down from CN¥0.11 in 3Q 2021). Revenue: CN¥770.9m (down 23% from 3Q 2021). Net income: CN¥30.7m (down 77% from 3Q 2021). Profit margin: 4.0% (down from 13% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 44% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: CN¥0.037 (vs CN¥0.13 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.037 (down from CN¥0.13 in 2Q 2021). Revenue: CN¥641.0m (down 56% from 2Q 2021). Net income: CN¥37.2m (down 73% from 2Q 2021). Profit margin: 5.8% (down from 9.6% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 59%, compared to a 36% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 17% per year. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥6.43, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 21x in the Machinery industry in China. Total returns to shareholders of 69% over the past three years. Announcement • Jul 02
Tianrun Industry Technology Co., Ltd. Announces Final Cash Dividend on A Shares for the Year 2021, Payable on 08 July 2022 Tianrun Industry Technology Co., Ltd. announced final cash dividend/10 shares (tax included) of CNY 1.00000000 on A shares for the year 2021. Record date is 07 July 2022. Ex-date is 08 July 2022. Payment date is 08 July 2022. Announcement • May 19
Tianrun Industry Technology Co., Ltd. Approves the Cash Dividend for the Year 2021 Tianrun Industry Technology Co., Ltd. approved the cash dividend/10 shares (tax included) of CNY 1.00000000 for the Year 2021. Reported Earnings • Apr 27
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CN¥0.08 (down from CN¥0.15 in 1Q 2021). Revenue: CN¥930.1m (down 41% from 1Q 2021). Net income: CN¥93.8m (down 46% from 1Q 2021). Profit margin: 10% (in line with 1Q 2021). Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) also missed analyst estimates by 6.7%. Over the next year, revenue is forecast to grow 22%, compared to a 30% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
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. 6 non-independent directors. Independent Director Guoxia Qu was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 24
Tianrun Industry Technology Co., Ltd., Annual General Meeting, May 17, 2022 Tianrun Industry Technology Co., Ltd., Annual General Meeting, May 17, 2022, at 14:00 China Standard Time. Agenda: To consider 2021 work report of the board of directors; to consider 2021 work report of the supervisory committee; to consider 2021 annual accounts; and to discuss other matters. Reported Earnings • Mar 15
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥0.49 (up from CN¥0.45 in FY 2020). Revenue: CN¥4.72b (up 6.6% from FY 2020). Net income: CN¥541.3m (up 6.6% from FY 2020). Profit margin: 12% (in line with FY 2020). Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) also missed analyst estimates by 6.7%. Over the next year, revenue is forecast to grow 17%, compared to a 30% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥8.32, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 21x in the Machinery industry in China. Total returns to shareholders of 85% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥6.39 per share. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥9.48, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 25x in the Machinery industry in China. Total returns to shareholders of 174% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥6.19 per share. Reported Earnings • Oct 25
Third quarter 2021 earnings released: EPS CN¥0.11 (vs CN¥0.12 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2021 results: Revenue: CN¥1.00b (down 18% from 3Q 2020). Net income: CN¥132.2m (down 2.4% from 3Q 2020). Profit margin: 13% (up from 11% in 3Q 2020). The increase in margin was driven by lower expenses. 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 43% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥8.80, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 23x in the Machinery industry in China. Total returns to shareholders of 143% over the past three years. Price Target Changed • Sep 14
Price target increased to CN¥12.00 Up from CN¥9.43, the current price target is an average from 2 analysts. New target price is 16% above last closing price of CN¥10.32. Stock is up 69% over the past year. Valuation Update With 7 Day Price Move • Sep 06
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥8.08, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 23x in the Machinery industry in China. Total returns to shareholders of 128% over the past three years. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS CN¥0.13 (vs CN¥0.099 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: CN¥1.45b (up 34% from 2Q 2020). Net income: CN¥139.4m (up 19% from 2Q 2020). Profit margin: 9.6% (down from 11% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 24% per year. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥6.46, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 22x in the Machinery industry in China. Total returns to shareholders of 68% over the past three years. Announcement • May 28
Tianrun Industry Technology Co., Ltd. Approves Final Dividend for the Year 2020 Tianrun Industry Technology Co., Ltd. approved final dividend of CNY 0.50000000 per 10 shares (tax included) for 2020 in its AGM held on May 24, 2021. Reported Earnings • Apr 28
First quarter 2021 earnings released: EPS CN¥0.15 (vs CN¥0.08 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥1.57b (up 71% from 1Q 2020). Net income: CN¥172.2m (up 96% from 1Q 2020). Profit margin: 11% (up from 9.6% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS CN¥0.45 (vs CN¥0.31 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥4.43b (up 23% from FY 2019). Net income: CN¥507.9m (up 44% from FY 2019). Profit margin: 12% (up from 9.8% in FY 2019). 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 whereas the company’s share price has increased by 11% per year. Is New 90 Day High Low • Mar 01
New 90-day high: CN¥7.13 The company is up 5.0% from its price of CN¥6.81 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 Machinery industry, which is up 3.0% over the same period. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥6.88, the stock is trading at a trailing P/E ratio of 18x, up from the previous P/E ratio of 15.6x. This compares to an average P/E of 34x in the Machinery industry in China. Total returns to shareholders over the past three years are 36%. Is New 90 Day High Low • Dec 28
New 90-day low: CN¥5.42 The company is down 5.0% from its price of CN¥5.70 on 29 September 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 9.0% over the same period. Is New 90 Day High Low • Dec 11
New 90-day low: CN¥5.50 The company is down 9.0% from its price of CN¥6.07 on 11 September 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 6.0% over the same period. Valuation Update With 7 Day Price Move • Dec 11
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥5.50, the stock is trading at a trailing P/E ratio of 14.4x, down from the previous P/E ratio of 17.3x. This compares to an average P/E of 40x in the Machinery industry in China. Total return to shareholders over the past three years is a loss of 1.2%. Is New 90 Day High Low • Nov 24
New 90-day high: CN¥7.62 The company is up 12% from its price of CN¥6.79 on 26 August 2020. The Chinese market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 3.0% over the same period. Valuation Update With 7 Day Price Move • Nov 20
Market bids up stock over the past week After last week's 18% share price gain to CN¥7.32, the stock is trading at a trailing P/E ratio of 19.1x, up from the previous P/E ratio of 16.2x. This compares to an average P/E of 39x in the Machinery industry in China. Total returns to shareholders over the past three years are 27%. Major Estimate Revision • Nov 01
Analysts increase EPS estimates to CN¥0.43 The 2020 consensus revenue estimate increased from CN¥4.36b to CN¥4.65b. The earnings per share estimate also received an upgrade from CN¥0.37 to CN¥0.43 for the same period. Net income is expected to grow by 23% next year compared to 40% growth forecast for the Machinery industry in China. The consensus price target increased from CN¥9.43 to CN¥10.50. Share price is up 10% to CN¥6.63 over the past week. Reported Earnings • Oct 26
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥440.9m, up 23% from the prior year. Total revenue was CN¥4.21b over the last 12 months, up 23% from the prior year. Announcement • Oct 19
Tianrun Industry Technology Co., Ltd. to Report Q3, 2020 Results on Oct 26, 2020 Tianrun Industry Technology Co., Ltd. announced that they will report Q3, 2020 results on Oct 26, 2020 Announcement • Jul 24
Tianrun Industry Technology Co., Ltd. to Report First Half, 2020 Results on Aug 20, 2020 Tianrun Industry Technology Co., Ltd. announced that they will report first half, 2020 results on Aug 20, 2020