New Risk • Jun 12
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 High level of non-cash earnings (24% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (8.6% average weekly change). Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥91.21, the stock trades at a forward P/E ratio of 45x. Average forward P/E is 26x in the Electrical industry in China. Total returns to shareholders of 211% over the past year. New Risk • Apr 30
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (24% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Announcement • Apr 29
Pamica Technology Corporation, Annual General Meeting, May 20, 2026 Pamica Technology Corporation, Annual General Meeting, May 20, 2026, at 14:30 China Standard Time. Location: No. 242, Tongcheng Avenue, Tongcheng County, Xianning, Hubei China Reported Earnings • Apr 29
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥1.30 (up from CN¥1.25 in FY 2024). Revenue: CN¥1.19b (up 13% from FY 2024). Net income: CN¥241.6m (up 11% from FY 2024). Profit margin: 20% (in line with FY 2024). Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates by 3.0%. Revenue is forecast to grow 26% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electrical industry in China. Announcement • Mar 31
Pamica Technology Corporation to Report Q1, 2026 Results on Apr 29, 2026 Pamica Technology Corporation announced that they will report Q1, 2026 results on Apr 29, 2026 New Risk • Feb 12
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 7.6% 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 31
Pamica Technology Corporation to Report Fiscal Year 2025 Results on Apr 29, 2026 Pamica Technology Corporation announced that they will report fiscal year 2025 results on Apr 29, 2026 New Risk • Dec 25
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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Dec 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥69.22, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 23x in the Electrical industry in China. Total returns to shareholders of 157% over the past year. Reported Earnings • Oct 27
Third quarter 2025 earnings released: EPS: CN¥0.35 (vs CN¥0.32 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.35 (up from CN¥0.32 in 3Q 2024). Revenue: CN¥317.2m (up 11% from 3Q 2024). Net income: CN¥65.8m (up 10% from 3Q 2024). Profit margin: 21% (in line with 3Q 2024). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electrical industry in China. Announcement • Sep 30
Pamica Technology Corporation to Report Q3, 2025 Results on Oct 27, 2025 Pamica Technology Corporation announced that they will report Q3, 2025 results on Oct 27, 2025 Reported Earnings • Aug 28
Second quarter 2025 earnings released: EPS: CN¥0.45 (vs CN¥0.33 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.45 (up from CN¥0.33 in 2Q 2024). Revenue: CN¥311.0m (up 15% from 2Q 2024). Net income: CN¥82.7m (up 35% from 2Q 2024). Profit margin: 27% (up from 23% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electrical industry in China. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥59.13, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 21x in the Electrical industry in China. Total returns to shareholders of 203% over the past year. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥44.40, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 20x in the Electrical industry in China. Total returns to shareholders of 122% over the past year. New Risk • Jul 17
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 7.1% 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: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risks Dividend is not well covered by cash flows (dividend per share is over 9x cash flows per share). Share price has been volatile over the past 3 months (7.1% average weekly change). Announcement • Jul 02
Pamica Technology Corporation to Report First Half, 2025 Results on Aug 26, 2025 Pamica Technology Corporation announced that they will report first half, 2025 results on Aug 26, 2025 Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥33.11, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 19x in the Electrical industry in China. Total returns to shareholders of 50% over the past year. Announcement • Jun 20
Pamica Technology Corporation Announces Final Cash Dividend Plan on A Shares for 2024, Payable on 26 June 2025 Pamica Technology Corporation announced final cash dividend plan of CNY 3.60000000 per 10 A shares (tax included) for 2024. Record date: 25 June 2025; Ex-date: 26 June 2025; and Payment date: 26 June 2025. Announcement • Apr 19
Pamica Technology Corporation Proposes Final Cash Dividend for 2024 Pamica Technology Corporation proposed final cash dividend of CNY 3.60000000 per 10 shares (tax included) for 2024. Reported Earnings • Apr 18
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: CN¥1.25 (up from CN¥1.19 in FY 2023). Revenue: CN¥1.06b (up 14% from FY 2023). Net income: CN¥217.5m (up 31% from FY 2023). Profit margin: 21% (up from 18% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) exceeded analyst estimates by 14%. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Electrical industry in China. Announcement • Apr 18
Pamica Technology Corporation, Annual General Meeting, May 08, 2025 Pamica Technology Corporation, Annual General Meeting, May 08, 2025, at 14:30 China Standard Time. Location: No. 242, Tongcheng Avenue, Tongcheng County, Xianning, Hubei China Buy Or Sell Opportunity • Apr 14
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 10% to CN¥29.30. The fair value is estimated to be CN¥24.01, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Earnings per share has grown by 10%. Revenue is forecast to grow by 49% in 2 years. Earnings are forecast to grow by 44% in the next 2 years. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥33.28, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 20x in the Electrical industry in China. Total returns to shareholders of 26% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥23.50 per share. Announcement • Mar 31
Pamica Technology Corporation to Report Q1, 2025 Results on Apr 18, 2025 Pamica Technology Corporation announced that they will report Q1, 2025 results on Apr 18, 2025 Buy Or Sell Opportunity • Feb 28
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 24% to CN¥29.83. The fair value is estimated to be CN¥23.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Earnings per share has grown by 10%. Revenue is forecast to grow by 49% in 2 years. Earnings are forecast to grow by 44% in the next 2 years. Announcement • Dec 31
Pamica Technology Corporation to Report Fiscal Year 2024 Results on Apr 18, 2025 Pamica Technology Corporation announced that they will report fiscal year 2024 results on Apr 18, 2025 Reported Earnings • Oct 22
Third quarter 2024 earnings released Third quarter 2024 results: EPS: CN¥0.32. Net income: CN¥59.8m (up CN¥59.8m from 3Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electrical industry in China. Announcement • Sep 30
Pamica Technology Corporation to Report Q3, 2024 Results on Oct 22, 2024 Pamica Technology Corporation announced that they will report Q3, 2024 results on Oct 22, 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¥23.02, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 17x in the Electrical industry in China. New Risk • Aug 28
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (21% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Announcement • Jun 29
Pamica Technology Corporation to Report First Half, 2024 Results on Aug 28, 2024 Pamica Technology Corporation announced that they will report first half, 2024 results on Aug 28, 2024 Board Change • Jun 08
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 4 experienced directors. No highly experienced directors. Independent Director Zilu Zeng is the most experienced director on the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Jun 01
Pamica Technology Corporation Announces Board Appointments Pamica Technology Corporation held its 2nd Extraordinary General Meeting of 2024 on 29 May 2024, approved the Election of non-independent directors: Pan Xiebao, non-independent director; Pan Dujiang, non-independent director; Deng Bingnan, non-independent director; Li Jingbo, non-independent director; Xu Jun, non-independent director; Li Jun, non-independent director. Election of independent directors: Zeng Zilu, independent director; Dong Liying, independent director. Election of non-employee supervisors: Pan Yanliang, non-employee supervisor; Ding Yanghui, non-employee supervisor. 
