Valuation Update With 7 Day Price Move • 9h
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥9.30, the stock trades at a trailing P/E ratio of 36.2x. Average trailing P/E is 49x in the Chemicals industry in China. Total returns to shareholders of 65% over the past three years. Declared Dividend • Jun 08
Dividend of CN¥0.15 announced Shareholders will receive a dividend of CN¥0.15. Ex-date: 9th June 2026 Payment date: 9th June 2026 Dividend yield will be 1.7%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (58% earnings payout ratio) but not covered by cash flows (417% cash payout ratio). The dividend has increased by an average of 12% per year over the past 5 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 36% to shift the payout ratio to a potentially unsustainable range, which is more than the 6.9% EPS decline seen over the last 5 years. Reported Earnings • Apr 25
Full year 2025 earnings released: EPS: CN¥0.26 (vs CN¥0.34 in FY 2024) Full year 2025 results: EPS: CN¥0.26 (down from CN¥0.34 in FY 2024). Revenue: CN¥1.25b (down 1.6% from FY 2024). Net income: CN¥108.5m (down 22% from FY 2024). Profit margin: 8.7% (down from 11% in FY 2024). Over the last 3 years on average, earnings per share has increased by 10% per year and the company’s share price has also increased by 10% per year. Announcement • Apr 25
Hangzhou Toka Ink Co.,Ltd., Annual General Meeting, May 15, 2026 Hangzhou Toka Ink Co.,Ltd., Annual General Meeting, May 15, 2026, at 13:30 China Standard Time. Location: The Company's Meeting Room, Hangzhou, Zhejiang China Announcement • Mar 30
Hangzhou Toka Ink Co.,Ltd. to Report Q1, 2026 Results on Apr 29, 2026 Hangzhou Toka Ink Co.,Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026 Buy Or Sell Opportunity • Mar 23
Now 25% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.3% to CN¥7.01. The fair value is estimated to be CN¥9.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.6% over the last 3 years. Earnings per share has grown by 10%. Buy Or Sell Opportunity • Feb 02
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.0% to CN¥7.74. The fair value is estimated to be CN¥9.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has grown by 17%. Buy Or Sell Opportunity • Jan 13
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.4% to CN¥7.86. The fair value is estimated to be CN¥9.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has grown by 17%. Announcement • Dec 26
Hangzhou Toka Ink Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 25, 2026 Hangzhou Toka Ink Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 25, 2026 Buy Or Sell Opportunity • Nov 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 10% to CN¥7.95. The fair value is estimated to be CN¥9.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has grown by 17%. Reported Earnings • Oct 25
Third quarter 2025 earnings released: EPS: CN¥0.07 (vs CN¥0.089 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.07 (down from CN¥0.089 in 3Q 2024). Revenue: CN¥336.0m (flat on 3Q 2024). Net income: CN¥29.4m (down 29% from 3Q 2024). Profit margin: 8.8% (down from 12% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 14% per year. Announcement • Sep 30
Hangzhou Toka Ink Co.,Ltd. to Report Q3, 2025 Results on Oct 25, 2025 Hangzhou Toka Ink Co.,Ltd. announced that they will report Q3, 2025 results on Oct 25, 2025 Reported Earnings • Aug 22
Second quarter 2025 earnings released: EPS: CN¥0.041 (vs CN¥0.093 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.041 (down from CN¥0.093 in 2Q 2024). Revenue: CN¥288.2m (down 5.9% from 2Q 2024). Net income: CN¥18.2m (down 46% from 2Q 2024). Profit margin: 6.3% (down from 11% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 17% per year. Announcement • Aug 06
A group of buyers acquired 3% stake in Hangzhou Toka Ink Co.,Ltd. (SHSE:688571) from T&K Toka Co., Ltd CNY 89 million. A group of buyers acquired 3% stake in Hangzhou Toka Ink Co.,Ltd. (SHSE:688571) from T&K Toka Co., Ltd. for CNY 89 million on August 5, 2025. The price for the shares being transferred in this inquiry is CNY 7.09 per share, with a total of 12,603,855 shares being transferred.
A group of buyers completed the acquisition of 3% stake in Hangzhou Toka Ink Co.,Ltd. (SHSE:688571) from T&K Toka Co., Ltd. on August 5, 2025. Announcement • Jun 30
Hangzhou Toka Ink Co.,Ltd. to Report First Half, 2025 Results on Aug 21, 2025 Hangzhou Toka Ink Co.,Ltd. announced that they will report first half, 2025 results on Aug 21, 2025 Declared Dividend • Jun 07
Dividend of CN¥0.20 announced Shareholders will receive a dividend of CN¥0.20. Ex-date: 11th June 2025 Payment date: 11th June 2025 Dividend yield will be 2.7%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (57% earnings payout ratio) but not covered by cash flows (137% cash payout ratio). The dividend has increased by an average of 24% per year over the past 4 years. However, payments have been volatile during that time. Earnings per share has grown by 3.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Board Change • May 15
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 not an independent director. The company's board is composed of: 1 new director. 8 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Independent Director Guojian Liu 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 • Apr 22
Full year 2024 earnings released: EPS: CN¥0.34 (vs CN¥0.30 in FY 2023) Full year 2024 results: EPS: CN¥0.34 (up from CN¥0.30 in FY 2023). Revenue: CN¥1.27b (up 6.8% from FY 2023). Net income: CN¥139.0m (up 13% from FY 2023). Profit margin: 11% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Apr 22
Hangzhou Toka Ink Co.,Ltd., Annual General Meeting, May 12, 2025 Hangzhou Toka Ink Co.,Ltd., Annual General Meeting, May 12, 2025, at 13:30 China Standard Time. Location: The Company's Meeting Room, Hangzhou, Zhejiang China Announcement • Mar 28
Hangzhou Toka Ink Co.,Ltd. to Report Q1, 2025 Results on Apr 26, 2025 Hangzhou Toka Ink Co.,Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 Announcement • Feb 21
Hangzhou Toka Ink Co.,Ltd. (SHSE:688571) agreed to acquire 60% stake in Zhejiang Dike Donghua Fine Chemical Co., Ltd. from T&K Toka Co., Ltd. for CNY 18 million. Hangzhou Toka Ink Co.,Ltd. (SHSE:688571) agreed to acquire 60% stake in Zhejiang Dike Donghua Fine Chemical Co., Ltd. from T&K Toka Co., Ltd. for CNY 18 million on February 20, 2025. A cash consideration of CNY 18 million will be paid by Hangzhou Toka Ink Co.,Ltd. As part of consideration, CNY 18 million is paid towards common equity of Zhejiang Dike Donghua Fine Chemical Co., Ltd.
For the period ending December 31, 2024, Zhejiang Dike Donghua Fine Chemical Co., Ltd. reported EBIT of CNY 27.66 million and net loss of CNY 37.12 million. As of December 31, 2024, Zhejiang Dike Donghua Fine Chemical Co., Ltd. reported total assets of CNY 199.26 million and total common equity of CNY 23.64 million.
The transaction is subject to approval of offer by acquirer board. As of February 20, 2025, the deal has been approved by the board. Reported Earnings • Feb 18
Full year 2024 earnings released: EPS: CN¥0.34 (vs CN¥0.30 in FY 2023) Full year 2024 results: EPS: CN¥0.34 (up from CN¥0.30 in FY 2023). Revenue: CN¥1.27b (up 6.8% from FY 2023). Net income: CN¥139.0m (up 13% from FY 2023). Profit margin: 11% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Dec 27
Hangzhou Toka Ink Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 22, 2025 Hangzhou Toka Ink Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 22, 2025 Buy Or Sell Opportunity • Dec 24
Now 22% undervalued Over the last 90 days, the stock has risen 47% to CN¥7.35. The fair value is estimated to be CN¥9.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.9% over the last 3 years. Earnings per share has grown by 12%. Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.089 (vs CN¥0.098 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.089 (down from CN¥0.098 in 3Q 2023). Revenue: CN¥333.4m (down 2.8% from 3Q 2023). Net income: CN¥41.3m (down 2.7% from 3Q 2023). Profit margin: 12% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥5.74, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 31x in the Chemicals industry in China. Total loss to shareholders of 5.2% over the past three years. Announcement • Sep 30
Hangzhou Toka Ink Co.,Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Hangzhou Toka Ink 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 26% After last week's 26% share price gain to CN¥6.03, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 30x in the Chemicals industry in China. Negligible returns to shareholders over past three years. Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: CN¥0.093 (vs CN¥0.074 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.093 (up from CN¥0.074 in 2Q 2023). Revenue: CN¥306.3m (up 12% from 2Q 2023). Net income: CN¥33.8m (up 27% from 2Q 2023). Profit margin: 11% (up from 9.7% 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 4% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Jun 28
Hangzhou Toka Ink Co.,Ltd. to Report First Half, 2024 Results on Aug 28, 2024 Hangzhou Toka Ink Co.,Ltd. announced that they will report first half, 2024 results on Aug 28, 2024 Announcement • Apr 23
Hangzhou Toka Ink Co.,Ltd., Annual General Meeting, May 14, 2024 Hangzhou Toka Ink Co.,Ltd., Annual General Meeting, May 14, 2024, at 13:30 China Standard Time. Location: South No. 2, Wuhao Avenue, Baiyang Subdistrict, Economic-Technological Development Zone, Hangzhou, Zhejiang China Reported Earnings • Apr 23
Full year 2023 earnings released: EPS: CN¥0.30 (vs CN¥0.19 in FY 2022) Full year 2023 results: EPS: CN¥0.30 (up from CN¥0.19 in FY 2022). Revenue: CN¥1.19b (up 4.4% from FY 2022). Net income: CN¥122.9m (up 54% from FY 2022). Profit margin: 10% (up from 7.0% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 14% 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 • Apr 16
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥5.49, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 28x in the Chemicals industry in China. Total loss to shareholders of 24% over the past three years. Buy Or Sell Opportunity • Apr 08
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to CN¥6.33. The fair value is estimated to be CN¥7.96, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has declined by 14%. Announcement • Mar 29
Hangzhou Toka Ink Co.,Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Hangzhou Toka Ink Co.,Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Reported Earnings • Feb 24
Full year 2023 earnings released: EPS: CN¥0.30 (vs CN¥0.19 in FY 2022) Full year 2023 results: EPS: CN¥0.30 (up from CN¥0.19 in FY 2022). Revenue: CN¥1.19b (up 4.4% from FY 2022). Net income: CN¥122.9m (up 54% from FY 2022). Profit margin: 10% (up from 7.0% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Feb 08
Hangzhou Toka Ink Co.,Ltd. (SHSE:688571) announces an Equity Buyback for CNY 80 million worth of its shares. Hangzhou Toka Ink Co.,Ltd. (SHSE:688571) announces a share repurchase program. Under the program, the company will repurchase up to CNY 80 million worth of its shares. The repurchase price will not be more than CNY 9.59 per share. The purpose of the program is to safeguard the company's value and shareholders' rights and interests. The repurchases will be funded using the company’s own funds. The program will be valid for 3 months. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 29% After last week's 29% share price decline to CN¥4.60, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 26x in the Chemicals industry in China. Total loss to shareholders of 23% over the past three years. Buy Or Sell Opportunity • Feb 05
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 39% to CN¥4.60. The fair value is estimated to be CN¥5.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has declined by 18%. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Independent Director Guojian Liu was the last 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: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥6.26, the stock trades at a trailing P/E ratio of 22.7x. Average trailing P/E is 32x in the Chemicals industry in China. Total loss to shareholders of 3.9% over the past three years. Reported Earnings • Oct 24
Third quarter 2023 earnings released: EPS: CN¥0.098 (vs CN¥0.055 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.098 (up from CN¥0.055 in 3Q 2022). Revenue: CN¥342.9m (up 15% from 3Q 2022). Net income: CN¥42.5m (up 95% from 3Q 2022). Profit margin: 12% (up from 7.3% in 3Q 2022). The increase in margin was driven by higher revenue. Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: CN¥0.074 (vs CN¥0.038 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.074 (up from CN¥0.038 in 2Q 2022). Revenue: CN¥273.7m (up 1.7% from 2Q 2022). Net income: CN¥26.6m (up 64% from 2Q 2022). Profit margin: 9.7% (up from 6.1% in 2Q 2022). The increase in margin was primarily driven by lower expenses. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥7.38, the stock trades at a trailing P/E ratio of 36.7x. Average trailing P/E is 29x in the Chemicals industry in China. Total returns to shareholders of 32% over the past year. Announcement • Jun 28
Hangzhou Toka Ink Co., Ltd. to Report First Half, 2023 Results on Aug 29, 2023 Hangzhou Toka Ink Co., Ltd. announced that they will report first half, 2023 results on Aug 29, 2023 Reported Earnings • Apr 19
Full year 2022 earnings released: EPS: CN¥0.25 (vs CN¥0.35 in FY 2021) Full year 2022 results: EPS: CN¥0.25 (down from CN¥0.35 in FY 2021). Revenue: CN¥1.14b (flat on FY 2021). Net income: CN¥79.6m (down 30% from FY 2021). Profit margin: 7.0% (down from 9.8% in FY 2021). Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.071 (vs CN¥0.10 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.071 (down from CN¥0.10 in 3Q 2021). Revenue: CN¥298.0m (flat on 3Q 2021). Net income: CN¥21.8m (down 26% from 3Q 2021). Profit margin: 7.3% (down from 9.8% in 3Q 2021). Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: CN¥0.05 (vs CN¥0.09 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.05 (down from CN¥0.09 in 2Q 2021). Revenue: CN¥269.0m (down 3.8% from 2Q 2021). Net income: CN¥16.3m (down 45% from 2Q 2021). Profit margin: 6.1% (down from 11% in 2Q 2021). The decrease in margin was primarily driven by lower revenue. Reported Earnings • Apr 29
First quarter 2022 earnings released: EPS: CN¥0.03 (vs CN¥0.07 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.03 (down from CN¥0.07 in 1Q 2021). Revenue: CN¥279.4m (up 9.6% from 1Q 2021). Net income: CN¥9.59m (down 58% from 1Q 2021). Profit margin: 3.4% (down from 8.9% in 1Q 2021). The decrease in margin was driven by higher expenses. Reported Earnings • Apr 14
Full year 2021 earnings released: EPS: CN¥0.35 (vs CN¥0.46 in FY 2020) Full year 2021 results: EPS: CN¥0.35. Revenue: CN¥1.15b (up 16% from FY 2020). Net income: CN¥112.9m (up 3.3% from FY 2020). Profit margin: 9.8% (down from 11% in FY 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Feb 24
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: CN¥0.35 (down from CN¥0.46 in FY 2020). Revenue: CN¥1.15b (up 16% from FY 2020). Net income: CN¥112.9m (up 3.3% from FY 2020). Profit margin: 9.8% (down from 11% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Reported Earnings • Oct 27
Third quarter 2021 earnings released: EPS CN¥0.10 (vs CN¥0.14 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥300.3m (up 9.8% from 3Q 2020). Net income: CN¥29.5m (down 9.3% from 3Q 2020). Profit margin: 9.8% (down from 12% in 3Q 2020). The decrease in margin was driven by higher expenses. Announcement • Sep 03
Shen Xiaoping completed the acquisition of 87.5% stake in Huzhou Hanghua Ink Technology Co., Ltd from Hangzhou Toka Ink Co., Ltd. (SHSE:688571). Shen Xiaoping agree to acquire 87.5% stake in Huzhou Hanghua Ink Technology Co., Ltd from Hangzhou Toka Ink Co., Ltd. (SHSE:688571) for CNY 28.1 million on April 26, 2021. Hangzhou Toka Ink has received the first equity transfer payment of CNY 8.5 million. Hangzhou Toka Ink Co., Ltd held the third meeting of the third board of directors and the third meeting of the third board of supervisors on April 26, 2021, and reviewed and approved the transaction. As of June 30, 2021, Hangzhou Toka received second installment.
Shen Xiaoping completed the acquisition of 87.5% stake in Huzhou Hanghua Ink Technology Co., Ltd from Hangzhou Toka Ink Co., Ltd. (SHSE:688571) on September 2, 2021. Hangzhou Toka Ink Co., Ltd. received the third equity transfer final payment from Shen Xiaoping totaling CNY 8.6 million. As of September 2, 2021, Hangzhou Toka Ink Co., Ltd. has received a total of CNY 28.1 million for all equity transfers paid by Shen Xiaoping. Hangzhou Toka Ink Co., Ltd. has ceased to include Huzhou Hanghua Ink Technology Co., Ltd. in the accounting scope of its consolidated financial statements since June 2021. Reported Earnings • Aug 25
Second quarter 2021 earnings released: EPS CN¥0.09 (vs CN¥0.14 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¥279.6m (up 2.2% from 2Q 2020). Net income: CN¥29.9m (down 8.4% from 2Q 2020). Profit margin: 11% (down from 12% in 2Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Mar 14
Full year 2020 earnings released: EPS CN¥0.46 (vs CN¥0.38 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¥987.1m (down 2.0% from FY 2019). Net income: CN¥109.3m (up 21% from FY 2019). Profit margin: 11% (up from 8.9% in FY 2019). The increase in margin was driven by lower expenses. Announcement • Jan 21
Hangzhou Toka Ink Co., Ltd. to Report Fiscal Year 2020 Results on Mar 12, 2021 Hangzhou Toka Ink Co., Ltd. announced that they will report fiscal year 2020 results on Mar 12, 2021 Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥8.66, the stock is trading at a trailing P/E ratio of 22.3x, down from the previous P/E ratio of 26.4x. This compares to an average P/E of 34x in the Chemicals industry in China. 
