Valuation Update With 7 Day Price Move • 17h
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥7.71, the stock trades at a trailing P/E ratio of 50.2x. Average trailing P/E is 52x in the Electrical industry in China. Total returns to shareholders of 27% over the past three years. Announcement • Jun 30
Zhejiang Tengen Electrics Co.,Ltd. to Report First Half, 2026 Results on Aug 22, 2026 Zhejiang Tengen Electrics Co.,Ltd. announced that they will report first half, 2026 results on Aug 22, 2026 Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥7.22, the stock trades at a trailing P/E ratio of 47x. Average trailing P/E is 59x in the Electrical industry in China. Total returns to shareholders of 8.4% over the past three years. Announcement • Jun 12
Zhejiang Tengen Electrics Co.,Ltd. (SHSE:605066) announces an Equity Buyback for CNY 150 million worth of its shares. Zhejiang Tengen Electrics Co.,Ltd. (SHSE:605066) announces a share repurchase program. Under the program, the company will repurchase up to CNY 150 million worth of its A shares. The company will repurchase its shares at a maximum price of CNY 11.50 per share. The shares repurchased will be used for employee shareholding plan or equity incentive. The program will be valid for a period of 12 months. Declared Dividend • May 23
Dividend of CN¥0.10 announced Shareholders will receive a dividend of CN¥0.10. Ex-date: 28th May 2026 Payment date: 28th May 2026 Dividend yield will be 1.3%, which is lower than the industry average of 1.6%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has decreased over the past 56 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 27% to shift the payout ratio to a potentially unsustainable range, which is more than the 22% EPS decline seen over the last 5 years. New Risk • Apr 27
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: 2.8% Last year net profit margin: 4.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 12% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (2.8% net profit margin). Announcement • Apr 20
Zhejiang Tengen Electrics Co.,Ltd., Annual General Meeting, May 08, 2026 Zhejiang Tengen Electrics Co.,Ltd., Annual General Meeting, May 08, 2026, at 14:30 China Standard Time. Location: 27F, No. 18, Lane 666, Haiyang West Road, Pudong New Area, Shanghai China Announcement • Mar 30
Zhejiang Tengen Electrics Co.,Ltd. to Report Q1, 2026 Results on Apr 18, 2026 Zhejiang Tengen Electrics Co.,Ltd. announced that they will report Q1, 2026 results on Apr 18, 2026 Announcement • Dec 26
Zhejiang Tengen Electrics Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 18, 2026 Zhejiang Tengen Electrics Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 18, 2026 Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: CN¥0.049 (vs CN¥0.052 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.049 (down from CN¥0.052 in 3Q 2024). Revenue: CN¥715.4m (up 6.7% from 3Q 2024). Net income: CN¥23.3m (down 21% from 3Q 2024). Profit margin: 3.3% (down from 4.4% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Zhejiang Tengen Electrics Co.,Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Zhejiang Tengen Electrics Co.,Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Announcement • Jun 30
Zhejiang Tengen Electrics Co.,Ltd. to Report First Half, 2025 Results on Aug 29, 2025 Zhejiang Tengen Electrics Co.,Ltd. announced that they will report first half, 2025 results on Aug 29, 2025 Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥8.23, the stock trades at a trailing P/E ratio of 32.9x. Average trailing P/E is 40x in the Electrical industry in China. Total returns to shareholders of 36% over the past three years. Reported Earnings • Apr 28
First quarter 2025 earnings released: EPS: CN¥0.07 (vs CN¥0.056 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.07 (up from CN¥0.056 in 1Q 2024). Revenue: CN¥674.9m (up 1.0% from 1Q 2024). Net income: CN¥34.2m (up 18% from 1Q 2024). Profit margin: 5.1% (up from 4.3% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. New Risk • Mar 30
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 133% Dividend per share is over 8x cash flows per share. Dividend yield: 2.6% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 133% Dividend per share is over 8x cash flows per share. Earnings have declined by 21% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (9.7% average weekly change). Reported Earnings • Mar 30
Full year 2024 earnings released: EPS: CN¥0.24 (vs CN¥0.32 in FY 2023) Full year 2024 results: EPS: CN¥0.24 (down from CN¥0.32 in FY 2023). Revenue: CN¥2.92b (up 1.4% from FY 2023). Net income: CN¥121.4m (down 25% from FY 2023). Profit margin: 4.2% (down from 5.6% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Mar 29
Zhejiang Tengen Electrics Co.,Ltd., Annual General Meeting, Apr 18, 2025 Zhejiang Tengen Electrics Co.,Ltd., Annual General Meeting, Apr 18, 2025, at 14:00 China Standard Time. Location: 27F, No. 18, Lane 666, Haiyang West Road, Pudong New Area, Shanghai China Announcement • Mar 28
Zhejiang Tengen Electrics Co.,Ltd. to Report Q1, 2025 Results on Apr 26, 2025 Zhejiang Tengen Electrics Co.,Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥8.06, the stock trades at a trailing P/E ratio of 34.9x. Average trailing P/E is 41x in the Electrical industry in China. Total returns to shareholders of 7.5% over the past three years. New Risk • Feb 27
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 8.2% 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 Earnings have declined by 22% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (133% payout ratio). Share price has been volatile over the past 3 months (8.2% average weekly change). Announcement • Dec 27
Zhejiang Tengen Electrics Co.,Ltd. to Report Fiscal Year 2024 Results on Mar 29, 2025 Zhejiang Tengen Electrics Co.,Ltd. announced that they will report fiscal year 2024 results on Mar 29, 2025 Valuation Update With 7 Day Price Move • Dec 26
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥7.15, the stock trades at a trailing P/E ratio of 31x. Average trailing P/E is 36x in the Electrical industry in China. Total loss to shareholders of 16% over the past three years. Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.052 (vs CN¥0.088 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.052 (down from CN¥0.088 in 3Q 2023). Revenue: CN¥670.5m (down 10% from 3Q 2023). Net income: CN¥29.6m (down 32% from 3Q 2023). Profit margin: 4.4% (down from 5.9% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Zhejiang Tengen Electrics Co.,Ltd. to Report Q3, 2024 Results on Oct 30, 2024 Zhejiang Tengen Electrics Co.,Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥5.90, the stock trades at a trailing P/E ratio of 22.8x. Average trailing P/E is 29x in the Electrical industry in China. Total loss to shareholders of 41% over the past three years. Reported Earnings • Aug 20
Second quarter 2024 earnings released: EPS: CN¥0.096 (vs CN¥0.097 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.096 (down from CN¥0.097 in 2Q 2023). Revenue: CN¥862.5m (up 17% from 2Q 2023). Net income: CN¥45.3m (down 10% from 2Q 2023). Profit margin: 5.3% (down from 6.9% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has fallen by 28% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥6.13, the stock trades at a trailing P/E ratio of 22.8x. Average trailing P/E is 30x in the Electrical industry in China. Total loss to shareholders of 37% over the past three years. Announcement • Jun 28
Zhejiang Tengen Electrics Co.,Ltd. to Report First Half, 2024 Results on Aug 20, 2024 Zhejiang Tengen Electrics Co.,Ltd. announced that they will report first half, 2024 results on Aug 20, 2024 Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment deteriorates as stock falls 31% After last week's 31% share price decline to CN¥5.36, the stock trades at a trailing P/E ratio of 16x. Average trailing P/E is 31x in the Electrical industry in China. Total loss to shareholders of 56% over the past three years. Reported Earnings • Apr 24
First quarter 2024 earnings released: EPS: CN¥0.07 (vs CN¥0.14 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.07 (down from CN¥0.14 in 1Q 2023). Revenue: CN¥667.9m (up 8.0% from 1Q 2023). Net income: CN¥28.9m (down 47% from 1Q 2023). Profit margin: 4.3% (down from 8.8% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Announcement • Apr 23
Zhejiang Tengen Electrics Co.,Ltd., Annual General Meeting, May 20, 2024 Zhejiang Tengen Electrics Co.,Ltd., Annual General Meeting, May 20, 2024, at 14:30 China Standard Time. Location: 2F, No. 388, Kangqiao East Road, Pudong New Area, Shanghai China Announcement • Mar 29
Zhejiang Tengen Electrics Co.,Ltd. to Report Q1, 2024 Results on Apr 23, 2024 Zhejiang Tengen Electrics Co.,Ltd. announced that they will report Q1, 2024 results on Apr 23, 2024 Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥7.17, the stock trades at a trailing P/E ratio of 29.4x. Average trailing P/E is 27x in the Electrical industry in China. Total loss to shareholders of 37% over the past three years. Announcement • Dec 29
Zhejiang Tengen Electrics Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 23, 2024 Zhejiang Tengen Electrics Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 23, 2024 Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: CN¥0.11 (vs CN¥0.09 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.11 (up from CN¥0.09 in 3Q 2022). Revenue: CN¥746.5m (up 15% from 3Q 2022). Net income: CN¥43.7m (up 16% from 3Q 2022). Profit margin: 5.9% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: CN¥0.12 (vs CN¥0.11 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.12 (up from CN¥0.11 in 2Q 2022). Revenue: CN¥736.4m (up 5.8% from 2Q 2022). Net income: CN¥50.6m (up 13% from 2Q 2022). Profit margin: 6.9% (up from 6.5% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Announcement • Jun 28
Zhejiang Tengen Electrics Co.,Ltd. to Report First Half, 2023 Results on Aug 29, 2023 Zhejiang Tengen Electrics Co.,Ltd. announced that they will report first half, 2023 results on Aug 29, 2023 Reported Earnings • Apr 29
Full year 2022 earnings released: EPS: CN¥0.11 (vs CN¥0.27 in FY 2021) Full year 2022 results: EPS: CN¥0.11 (down from CN¥0.27 in FY 2021). Revenue: CN¥2.44b (down 17% from FY 2021). Net income: CN¥45.1m (down 59% from FY 2021). Profit margin: 1.9% (down from 3.7% in FY 2021). Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.09 (vs CN¥0.029 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.09 (up from CN¥0.029 in 3Q 2021). Revenue: CN¥648.0m (down 6.5% from 3Q 2021). Net income: CN¥37.5m (up 219% from 3Q 2021). Profit margin: 5.8% (up from 1.7% in 3Q 2021). Reported Earnings • Aug 31
Second quarter 2022 earnings released: EPS: CN¥0.11 (vs CN¥0.28 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.11 (down from CN¥0.28 in 2Q 2021). Revenue: CN¥696.3m (down 29% from 2Q 2021). Net income: CN¥44.9m (down 58% from 2Q 2021). Profit margin: 6.5% (down from 11% in 2Q 2021). Reported Earnings • May 02
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CN¥0.03 (down from CN¥0.09 in 1Q 2021). Revenue: CN¥510.4m (down 25% from 1Q 2021). Net income: CN¥12.4m (down 68% from 1Q 2021). Profit margin: 2.4% (down from 5.6% in 1Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 9.1%. Earnings per share (EPS) also missed analyst estimates by 61%. Over the next year, revenue is forecast to grow 73%, compared to a 54% growth forecast for the industry in China. Buying Opportunity • Mar 14
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be CN¥11.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% per annum over the last 3 years. Earnings per share has grown by 12% per annum over the last 3 years. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.029 (vs CN¥0.26 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥693.2m (down 4.6% from 3Q 2020). Net income: CN¥11.7m (down 87% from 3Q 2020). Profit margin: 1.7% (down from 12% in 3Q 2020). The decrease in margin was primarily driven by higher expenses. Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment improved over the past week After last week's 32% share price gain to CN¥17.60, the stock trades at a trailing P/E ratio of 22.9x. Average trailing P/E is 37x in the Electrical industry in China. Reported Earnings • Jul 26
Second quarter 2021 earnings released: EPS CN¥0.28 (vs CN¥0.19 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥982.3m (up 38% from 2Q 2020). Net income: CN¥106.6m (up 69% from 2Q 2020). Profit margin: 11% (up from 8.9% in 2Q 2020). The increase in margin was driven by higher revenue. Is New 90 Day High Low • Jan 11
New 90-day low: CN¥12.00 The company is down 16% from its price of CN¥14.30 on 13 October 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 26% over the same period. Is New 90 Day High Low • Dec 24
New 90-day low: CN¥13.29 The company is down 5.0% from its price of CN¥14.04 on 25 September 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 27% over the same period. Reported Earnings • Oct 28
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥261.9m, up 50% from the prior year. Total revenue was CN¥2.35b over the last 12 months, up 9.8% from the prior year. 
