New Risk • May 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% 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 Share price has been volatile over the past 3 months (8.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.1% net profit margin). New Risk • Apr 25
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: 1.1% Last year net profit margin: 2.0% 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 Share price has been volatile over the past 3 months (8.8% average weekly change). Profit margins are more than 30% lower than last year (1.1% net profit margin). Announcement • Mar 30
Aecc Aero Science and Technology Co.,Ltd to Report Q1, 2026 Results on Apr 25, 2026 Aecc Aero Science and Technology Co.,Ltd announced that they will report Q1, 2026 results on Apr 25, 2026 Reported Earnings • Mar 30
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.18 (down from CN¥0.21 in FY 2024). Revenue: CN¥4.32b (up 12% from FY 2024). Net income: CN¥60.9m (down 12% from FY 2024). Profit margin: 1.4% (down from 1.8% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 45%. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Aerospace & Defense industry in China. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Announcement • Mar 29
Aecc Aero Science and Technology Co.,Ltd, Annual General Meeting, Apr 24, 2026 Aecc Aero Science and Technology Co.,Ltd, Annual General Meeting, Apr 24, 2026, at 14:00 China Standard Time. Location: Meeting Room, Chengfa Industrial Park, Xindu District, Chengdu, Sichuan China New Risk • Dec 29
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 7.0% 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 High level of debt (45% net debt to equity). Share price has been volatile over the past 3 months (7.0% average weekly change). Profit margins are more than 30% lower than last year (1.0% net profit margin). Announcement • Dec 26
Aecc Aero Science and Technology Co.,Ltd to Report Fiscal Year 2025 Results on Mar 30, 2026 Aecc Aero Science and Technology Co.,Ltd announced that they will report fiscal year 2025 results on Mar 30, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.062 (vs CN¥0.10 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.062 (down from CN¥0.10 in 3Q 2024). Revenue: CN¥1.43b (up 117% from 3Q 2024). Net income: CN¥19.1m (down 50% from 3Q 2024). Profit margin: 1.3% (down from 5.8% in 3Q 2024). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Aerospace & Defense industry in China. 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 13% per year, which means it is well ahead of earnings. Announcement • Sep 30
Aecc Aero Science and Technology Co.,Ltd to Report Q3, 2025 Results on Oct 30, 2025 Aecc Aero Science and Technology Co.,Ltd announced that they will report Q3, 2025 results on Oct 30, 2025 New Risk • Sep 13
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 54% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (54% net debt to equity). Share price has been volatile over the past 3 months (7.0% average weekly change). New Risk • Jul 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 9.1% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (9.1% average weekly change). Announcement • Jun 30
Aecc Aero Science and Technology Co.,Ltd to Report First Half, 2025 Results on Aug 30, 2025 Aecc Aero Science and Technology Co.,Ltd announced that they will report first half, 2025 results on Aug 30, 2025 New Risk • May 29
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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Share price has been volatile over the past 3 months (8.6% average weekly change). Reported Earnings • May 02
First quarter 2025 earnings released: EPS: CN¥0.011 (vs CN¥0.007 loss in 1Q 2024) First quarter 2025 results: EPS: CN¥0.011 (up from CN¥0.007 loss in 1Q 2024). Revenue: CN¥756.0m (down 6.8% from 1Q 2024). Net income: CN¥3.57m (up CN¥5.73m from 1Q 2024). Profit margin: 0.5% (up from net loss in 1Q 2024). The move to profitability was driven by lower expenses. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Aerospace & Defense industry in China. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 13% per year. Reported Earnings • Apr 01
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: CN¥0.21 (up from CN¥0.15 in FY 2023). Revenue: CN¥3.85b (down 15% from FY 2023). Net income: CN¥68.8m (up 43% from FY 2023). Profit margin: 1.8% (up from 1.1% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 20%. Earnings per share (EPS) exceeded analyst estimates by 31%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 25% growth forecast for the Aerospace & Defense industry in China. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Apr 01
Aecc Aero Science and Technology Co.,Ltd, Annual General Meeting, Apr 29, 2025 Aecc Aero Science and Technology Co.,Ltd, Annual General Meeting, Apr 29, 2025, at 14:00 China Standard Time. Location: Meeting Room, Chengfa Industrial Park, Xindu District, Chengdu, Sichuan China Announcement • Mar 28
Aecc Aero Science and Technology Co.,Ltd to Report Q1, 2025 Results on Apr 30, 2025 Aecc Aero Science and Technology Co.,Ltd announced that they will report Q1, 2025 results on Apr 30, 2025 Announcement • Dec 27
Aecc Aero Science and Technology Co.,Ltd to Report Fiscal Year 2024 Results on Apr 01, 2025 Aecc Aero Science and Technology Co.,Ltd announced that they will report fiscal year 2024 results on Apr 01, 2025 Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: CN¥0.10 (vs CN¥0.056 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.10 (up from CN¥0.056 in 3Q 2023). Revenue: CN¥657.1m (down 45% from 3Q 2023). Net income: CN¥38.0m (up 83% from 3Q 2023). Profit margin: 5.8% (up from 1.8% in 3Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Aerospace & Defense industry in China. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Aecc Aero Science and Technology Co.,Ltd to Report Q3, 2024 Results on Oct 31, 2024 Aecc Aero Science and Technology Co.,Ltd announced that they will report Q3, 2024 results on Oct 31, 2024 New Risk • Sep 12
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: 1.1% Last year net profit margin: 1.7% 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: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.1% net profit margin). Announcement • Jun 28
Aecc Aero Science and Technology Co.,Ltd to Report First Half, 2024 Results on Aug 30, 2024 Aecc Aero Science and Technology Co.,Ltd announced that they will report first half, 2024 results on Aug 30, 2024 Reported Earnings • May 01
First quarter 2024 earnings released: CN¥0.007 loss per share (vs CN¥0.03 loss in 1Q 2023) First quarter 2024 results: CN¥0.007 loss per share (improved from CN¥0.03 loss in 1Q 2023). Revenue: CN¥811.1m (up 9.4% from 1Q 2023). Net loss: CN¥2.16m (loss narrowed 80% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. New Risk • Apr 07
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 100% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 31
Full year 2023 earnings released: EPS: CN¥0.15 (vs CN¥0.14 in FY 2022) Full year 2023 results: EPS: CN¥0.15 (up from CN¥0.14 in FY 2022). Revenue: CN¥4.52b (up 19% from FY 2022). Net income: CN¥48.2m (up 3.3% from FY 2022). Profit margin: 1.1% (down from 1.2% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Mar 30
Aecc Aero Science and Technology Co.,Ltd, Annual General Meeting, May 10, 2024 Aecc Aero Science and Technology Co.,Ltd, Annual General Meeting, May 10, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Chengdu, Sichuan China Announcement • Mar 29
Aecc Aero Science and Technology Co.,Ltd to Report Q1, 2024 Results on Apr 30, 2024 Aecc Aero Science and Technology Co.,Ltd announced that they will report Q1, 2024 results on Apr 30, 2024 Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥14.23, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 23x in the Aerospace & Defense industry in China. Total loss to shareholders of 18% over the past three years. Announcement • Dec 30
Aecc Aero Science and Technology Co.,Ltd to Report Fiscal Year 2023 Results on Mar 30, 2024 Aecc Aero Science and Technology Co.,Ltd announced that they will report fiscal year 2023 results on Mar 30, 2024 Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: CN¥0.056 (vs CN¥0.041 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.056 (up from CN¥0.041 in 3Q 2022). Revenue: CN¥1.19b (up 67% from 3Q 2022). Net income: CN¥20.8m (up 78% from 3Q 2022). Profit margin: 1.8% (up from 1.6% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Aerospace & Defense industry in China. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: CN¥0.09 (vs CN¥0.038 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.09 (up from CN¥0.038 in 2Q 2022). Revenue: CN¥1.11b (up 32% from 2Q 2022). Net income: CN¥23.2m (up 67% from 2Q 2022). Profit margin: 2.1% (up from 1.7% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Aerospace & Defense industry in China. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Jun 28
Aecc Aero Science and Technology Co.,Ltd to Report First Half, 2023 Results on Aug 30, 2023 Aecc Aero Science and Technology Co.,Ltd announced that they will report first half, 2023 results on Aug 30, 2023 Reported Earnings • Apr 07
Full year 2022 earnings released: EPS: CN¥0.14 (vs CN¥0.06 in FY 2021) Full year 2022 results: EPS: CN¥0.14 (up from CN¥0.06 in FY 2021). Revenue: CN¥3.80b (up 8.5% from FY 2021). Net income: CN¥46.6m (up 119% from FY 2021). Profit margin: 1.2% (up from 0.6% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Director Qin Huang was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 30
Third quarter 2022 earnings released: EPS: CN¥0.041 (vs CN¥0.017 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.041 (up from CN¥0.017 in 3Q 2021). Revenue: CN¥714.7m (down 14% from 3Q 2021). Net income: CN¥11.7m (up 111% from 3Q 2021). Profit margin: 1.6% (up from 0.7% in 3Q 2021). 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 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: CN¥0.038 (vs CN¥0.08 loss in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.038 (up from CN¥0.08 loss in 2Q 2021). Revenue: CN¥843.2m (up 11% from 2Q 2021). Net income: CN¥13.9m (up CN¥42.3m from 2Q 2021). Profit margin: 1.7% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 131% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 29
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: CN¥0.07 loss per share (up from CN¥0.08 loss in 1Q 2021). Revenue: CN¥750.9m (up 6.6% from 1Q 2021). Net loss: CN¥24.6m (loss narrowed 2.4% from 1Q 2021). Revenue missed analyst estimates by 16%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, earnings per share has increased by 126% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. 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. 8 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Shao Bing Peng was the last independent director to join the board, commencing their role in 2018. 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 12
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥0.06 (up from CN¥0.05 loss in FY 2020). Revenue: CN¥3.50b (up 29% from FY 2020). Net income: CN¥21.3m (up CN¥37.3m from FY 2020). Profit margin: 0.6% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 16%. Earnings per share (EPS) also missed analyst estimates by 36%. Over the last 3 years on average, earnings per share has increased by 117% 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 • Nov 01
Third quarter 2021 earnings released: EPS CN¥0.017 (vs CN¥0.02 in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥828.7m (up 41% from 3Q 2020). Net income: CN¥5.56m (down 32% from 3Q 2020). Profit margin: 0.7% (down from 1.4% in 3Q 2020). 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 19% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 29
Second quarter 2021 earnings released: CN¥0.08 loss per share (vs CN¥0.10 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: CN¥761.8m (up 52% from 2Q 2020). Net loss: CN¥28.4m (loss narrowed 15% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 05
First quarter 2021 earnings released: CN¥0.08 loss per share (vs CN¥0.10 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: CN¥704.6m (up 55% from 1Q 2020). Net loss: CN¥25.2m (loss narrowed 24% from 1Q 2020). 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 3% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 30
Full year 2020 earnings released: CN¥0.05 loss per share (vs CN¥0.07 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: CN¥2.72b (down 20% from FY 2019). Net loss: CN¥16.0m (down 171% from profit in FY 2019). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Mar 05
Aecc Aero Science and Technology Co.,Ltd to Report Fiscal Year 2020 Results on Mar 30, 2021 Aecc Aero Science and Technology Co.,Ltd announced that they will report fiscal year 2020 results on Mar 30, 2021 Is New 90 Day High Low • Jan 29
New 90-day low: CN¥18.83 The company is down 6.0% from its price of CN¥19.95 on 30 October 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Aerospace & Defense industry, which is up 17% over the same period. Is New 90 Day High Low • Jan 04
New 90-day high: CN¥27.13 The company is up 18% from its price of CN¥23.04 on 30 September 2020. The Chinese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Aerospace & Defense industry, which is up 20% over the same period. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total losses of CN¥15.7m, with losses narrowing by 94% from the prior year. Total revenue was CN¥3.28b over the last 12 months, up 25% from the prior year. Announcement • Oct 27
Aecc Aero Science and Technology Co.,Ltd to Report Q3, 2020 Results on Oct 30, 2020 Aecc Aero Science and Technology Co.,Ltd announced that they will report Q3, 2020 results on Oct 30, 2020 Is New 90 Day High Low • Oct 22
New 90-day low: CN¥22.14 The company is down 10.0% from its price of CN¥24.61 on 24 July 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Aerospace & Defense industry, which is flat over the same period. Announcement • Jul 17
Aecc Aero Science and Technology Co.,Ltd to Report First Half, 2020 Results on Aug 29, 2020 Aecc Aero Science and Technology Co.,Ltd announced that they will report first half, 2020 results on Aug 29, 2020