Announcement • Jun 17
IKD Co., Ltd. (SHSE:600933) announces an Equity Buyback for CNY 200 million worth of its shares. IKD Co., Ltd. (SHSE:600933) ) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its A shares. The shares will be repurchased at a price not more than CNY 24.9 per share. The repurchased shares will be used for employee stock ownership plans or equity incentives, and shares not used within 3 years after the completion of the repurchase will be cancelled. The program will be financed via own funds or special repurchase loans. The authorization will be valid for a period of 12 months from board approval date.
Effective from June 16, 2026, the company announced that it has adjusted its repurchase price from CNY 24.9 per share to CNY 24.5 per share. Declared Dividend • Jun 15
Dividend increased to CN¥0.40 Dividend of CN¥0.40 is 33% higher than last year. Ex-date: 16th June 2026 Payment date: 16th June 2026 Dividend yield will be 2.7%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (36% earnings payout ratio) and cash flows (62% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 8 years and payments have been stable during that time. EPS is expected to grow by 70% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 05
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥1.18 (up from CN¥0.98 in FY 2024). Revenue: CN¥7.41b (up 9.9% from FY 2024). Net income: CN¥1.17b (up 25% from FY 2024). Profit margin: 16% (up from 14% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 6.9%. Earnings per share (EPS) also missed analyst estimates by 4.8%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Apr 30
IKD Co., Ltd., Annual General Meeting, May 20, 2026 IKD Co., Ltd., Annual General Meeting, May 20, 2026, at 13:00 China Standard Time. Location: 3F, No. 588, Jinshan Road, Jiangbei District, Ningbo, Zhejiang China Announcement • Mar 30
IKD Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 IKD Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Price Target Changed • Mar 08
Price target increased by 18% to CN¥30.74 Up from CN¥26.04, the current price target is an average from 2 analysts. New target price is 76% above last closing price of CN¥17.44. Stock is down 12% over the past year. The company is forecast to post earnings per share of CN¥1.18 for next year compared to CN¥0.98 last year. Announcement • Dec 26
IKD Co., Ltd. to Report Fiscal Year 2025 Results on Apr 30, 2026 IKD Co., Ltd. announced that they will report fiscal year 2025 results on Apr 30, 2026 Price Target Changed • Nov 11
Price target increased by 9.4% to CN¥25.63 Up from CN¥23.43, the current price target is an average from 4 analysts. New target price is 25% above last closing price of CN¥20.48. Stock is up 27% over the past year. The company is forecast to post earnings per share of CN¥1.18 for next year compared to CN¥0.98 last year. New Risk • Nov 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 116% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (116% increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (7.5% average weekly change). Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.33 (vs CN¥0.30 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.33 (up from CN¥0.30 in 3Q 2024). Revenue: CN¥1.86b (up 7.9% from 3Q 2024). Net income: CN¥322.3m (up 10% from 3Q 2024). Profit margin: 17% (in line with 3Q 2024). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. New Risk • Oct 24
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 7.4% 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 • Sep 30
IKD Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 IKD Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥23.08, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 26x in the Auto Components industry in China. Total returns to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥9.95 per share. Announcement • Jun 30
IKD Co., Ltd. to Report First Half, 2025 Results on Aug 29, 2025 IKD Co., Ltd. announced that they will report first half, 2025 results on Aug 29, 2025 Reported Earnings • May 01
First quarter 2025 earnings released: EPS: CN¥0.26 (vs CN¥0.25 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.26 (up from CN¥0.25 in 1Q 2024). Revenue: CN¥1.67b (up 1.4% from 1Q 2024). Net income: CN¥257.3m (up 11% from 1Q 2024). Profit margin: 15% (up from 14% in 1Q 2024). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to CN¥13.01, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 18x in the Auto Components industry in China. Total returns to shareholders of 31% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥15.82 per share. Major Estimate Revision • Apr 06
Consensus revenue estimates fall by 10% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥8.90b to CN¥7.98b. EPS estimate fell from CN¥1.33 to CN¥1.15 per share. Net income forecast to grow 20% next year vs 35% growth forecast for Auto Components industry in China. Consensus price target up from CN¥22.92 to CN¥23.61. Share price fell 8.0% to CN¥16.05 over the past week. Reported Earnings • Apr 01
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.98. Revenue: CN¥6.75b (up 13% from FY 2023). Net income: CN¥939.5m (up 2.9% from FY 2023). Profit margin: 14% (down from 15% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 7.6%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Auto Components industry in China. Buy Or Sell Opportunity • Mar 31
Now 23% undervalued The stock has been flat over the last 90 days, currently trading at CN¥16.31. The fair value is estimated to be CN¥21.06, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 38%. Revenue is forecast to grow by 54% in 2 years. Earnings are forecast to grow by 43% in the next 2 years. Announcement • Mar 31
IKD Co., Ltd., Annual General Meeting, Apr 29, 2025 IKD Co., Ltd., Annual General Meeting, Apr 29, 2025, at 13:00 China Standard Time. Location: 3F, No. 588, Jinshan Road, Jiangbei District, Ningbo, Zhejiang China Announcement • Mar 28
IKD Co., Ltd. to Report Q1, 2025 Results on Apr 30, 2025 IKD Co., Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥20.68, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 20x in the Auto Components industry in China. Total returns to shareholders of 32% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥21.16 per share. New Risk • Feb 19
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: Minor Risks Dividend is not well covered by cash flows (278% cash payout ratio). Share price has been volatile over the past 3 months (8.6% average weekly change). Buy Or Sell Opportunity • Jan 28
Now 20% undervalued Over the last 90 days, the stock has risen 14% to CN¥17.71. The fair value is estimated to be CN¥22.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 38%. Revenue is forecast to grow by 56% in 2 years. Earnings are forecast to grow by 45% in the next 2 years. Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥17.61, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 19x in the Auto Components industry in China. Total loss to shareholders of 6.1% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥21.76 per share. Announcement • Dec 27
IKD Co., Ltd. to Report Fiscal Year 2024 Results on Apr 11, 2025 IKD Co., Ltd. announced that they will report fiscal year 2024 results on Apr 11, 2025 Buy Or Sell Opportunity • Dec 23
Now 23% undervalued Over the last 90 days, the stock has risen 33% to CN¥17.02. The fair value is estimated to be CN¥22.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 38%. Revenue is forecast to grow by 56% in 2 years. Earnings are forecast to grow by 45% in the next 2 years. Buy Or Sell Opportunity • Nov 22
Now 23% undervalued Over the last 90 days, the stock has risen 30% to CN¥15.44. The fair value is estimated to be CN¥20.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 38%. Revenue is forecast to grow by 56% in 2 years. Earnings are forecast to grow by 45% in the next 2 years. Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥16.37, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 16x in the Auto Components industry in China. Total returns to shareholders of 9.1% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥20.69 per share. Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.30 (vs CN¥0.22 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.30 (up from CN¥0.22 in 3Q 2023). Revenue: CN¥1.72b (up 8.4% from 3Q 2023). Net income: CN¥292.0m (up 45% from 3Q 2023). Profit margin: 17% (up from 13% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 3% 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 16% After last week's 16% share price decline to CN¥13.50, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 16x in the Auto Components industry in China. Total returns to shareholders of 2.7% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥15.97 per share. Announcement • Sep 30
IKD Co., Ltd. to Report Q3, 2024 Results on Oct 30, 2024 IKD 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¥14.44, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Auto Components industry in China. Total returns to shareholders of 27% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥15.80 per share. Buy Or Sell Opportunity • Sep 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 25% to CN¥12.55. The fair value is estimated to be CN¥15.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 36%. Revenue is forecast to grow by 57% in 2 years. Earnings are forecast to grow by 58% in the next 2 years. Price Target Changed • Sep 02
Price target decreased by 18% to CN¥22.75 Down from CN¥27.80, the current price target is an average from 3 analysts. New target price is 84% above last closing price of CN¥12.38. Stock is down 50% over the past year. The company is forecast to post earnings per share of CN¥1.13 for next year compared to CN¥1.03 last year. Buy Or Sell Opportunity • Aug 20
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 34% to CN¥12.01. The fair value is estimated to be CN¥15.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 34%. Revenue is forecast to grow by 62% in 2 years. Earnings are forecast to grow by 54% in the next 2 years. Announcement • Jun 28
IKD Co., Ltd. to Report First Half, 2024 Results on Aug 31, 2024 IKD Co., Ltd. announced that they will report first half, 2024 results on Aug 31, 2024 New Risk • May 07
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 23% 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 (23% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (9.1% increase in shares outstanding). Announcement • Apr 29
IKD Co., Ltd., Annual General Meeting, May 17, 2024 IKD Co., Ltd., Annual General Meeting, May 17, 2024, at 14:00 China Standard Time. Location: No. 577, Jinshan Road, Jiangbei District, Ningbo, Zhejiang China Reported Earnings • Apr 28
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: CN¥1.03 (up from CN¥0.74 in FY 2022). Revenue: CN¥5.96b (up 40% from FY 2022). Net income: CN¥913.4m (up 41% from FY 2022). Profit margin: 15% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.7%. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. New Risk • Apr 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (27% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (9.1% increase in shares outstanding). Announcement • Mar 29
IKD Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 IKD Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Announcement • Dec 29
IKD Co., Ltd. to Report Fiscal Year 2023 Results on Mar 28, 2024 IKD Co., Ltd. announced that they will report fiscal year 2023 results on Mar 28, 2024 New Risk • Dec 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (27% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (2.0% increase in shares outstanding). Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.22 (vs CN¥0.22 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.22 (up from CN¥0.22 in 3Q 2022). Revenue: CN¥1.59b (up 33% from 3Q 2022). Net income: CN¥201.8m (up 3.9% from 3Q 2022). Profit margin: 13% (down from 16% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 28
Second quarter 2023 earnings released: EPS: CN¥0.26 (vs CN¥0.15 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.26 (up from CN¥0.15 in 2Q 2022). Revenue: CN¥1.39b (up 49% from 2Q 2022). Net income: CN¥226.5m (up 77% from 2Q 2022). Profit margin: 16% (up from 14% in 2Q 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 21% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 17% per year. New Risk • Jul 26
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 6.7% 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 (25% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.7% average weekly change). Price Target Changed • Jul 18
Price target increased by 8.8% to CN¥26.50 Up from CN¥24.35, the current price target is an average from 2 analysts. New target price is 11% above last closing price of CN¥23.85. Stock is up 30% over the past year. The company is forecast to post earnings per share of CN¥0.95 for next year compared to CN¥0.74 last year. Announcement • May 16
IKD Co., Ltd. announced a financing transaction IKD Co., Ltd. announced a private placement of A shares on May 15, 2023. The transaction has been approved at the first extraordinary general meeting of shareholders in 2023. Buying Opportunity • Apr 28
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be CN¥24.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 24% per annum. Earnings is also forecast to grow by 24% per annum over the same time period. Price Target Changed • Apr 27
Price target increased by 8.8% to CN¥26.50 Up from CN¥24.35, the current price target is an average from 2 analysts. New target price is 26% above last closing price of CN¥21.04. Stock is up 117% over the past year. The company is forecast to post earnings per share of CN¥0.90 for next year compared to CN¥0.74 last year. Price Target Changed • Mar 28
Price target increased by 8.8% to CN¥26.50 Up from CN¥24.35, the current price target is an average from 2 analysts. New target price is 15% above last closing price of CN¥22.96. Stock is up 96% over the past year. The company is forecast to post earnings per share of CN¥0.90 for next year compared to CN¥0.74 last year. Reported Earnings • Mar 27
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: CN¥0.74 (up from CN¥0.36 in FY 2021). Revenue: CN¥4.27b (up 33% from FY 2021). Net income: CN¥648.5m (up 109% from FY 2021). Profit margin: 15% (up from 9.7% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) exceeded analyst estimates by 1.9%. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥24.94, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 25x in the Auto Components industry in China. Total returns to shareholders of 100% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥13.13 per share. Board Change • Nov 16
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. 4 non-independent directors. Independent Director Xiaobo Wu 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. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥21.99, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 25x in the Auto Components industry in China. Total returns to shareholders of 100% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥9.00 per share. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.22 (vs CN¥0.091 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.22 (up from CN¥0.091 in 3Q 2021). Revenue: CN¥1.19b (up 53% from 3Q 2021). Net income: CN¥194.2m (up 141% from 3Q 2021). Profit margin: 16% (up from 10% in 3Q 2021). 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 24% growth forecast for the Auto Components 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 19% per year, which means it is well ahead of earnings. Major Estimate Revision • Oct 26
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from CN¥0.57 to CN¥0.63. Revenue forecast unchanged at CN¥4.15b. Net income forecast to grow 92% next year vs 69% growth forecast for Auto Components industry in China. Consensus price target of CN¥20.69 unchanged from last update. Share price was steady at CN¥20.21 over the past week. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥20.38, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 27x in the Auto Components industry in China. Total returns to shareholders of 107% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥11.26 per share. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥19.99, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 27x in the Auto Components industry in China. Total returns to shareholders of 99% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥12.29 per share. Reported Earnings • Aug 18
Second quarter 2022 earnings released: EPS: CN¥0.15 (vs CN¥0.10 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.15 (up from CN¥0.10 in 2Q 2021). Revenue: CN¥930.5m (up 21% from 2Q 2021). Net income: CN¥128.3m (up 42% from 2Q 2021). Profit margin: 14% (up from 12% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 28%, compared to a 35% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Announcement • Jul 21
IKD Co., Ltd. (SHSE:600933) completed the acquisition of 67.5% stake in Föhl Die Casting (Taicang) Co., Ltd. from FÖHl Beteiligungen Gmbh and Föhl Asia Pacific Limited. IKD Co., Ltd. (SHSE:600933) entered into equity transfer agreement to acquire 67.5% stake in Föhl Die Casting (Taicang) Co., Ltd. from FÖHl Beteiligungen Gmbh and Föhl Asia Pacific Limited for approximately CNY 300 million on June 28, 2022. As per the transaction, FÖHl Beteiligungen Gmbh will sell 43.75% stake and Föhl Asia Pacific Limited will sell 23.75% stake in Föhl Die Casting (Taicang) Co., Ltd. As on December 31, 2021, Föhl Die Casting (Taicang) Co., Ltd. generated total assets of CNY 300 million, net assets of CNY 188.6 million, operating income of CNY 319.9 million and net profit of CNY 34.2 million.
IKD Co., Ltd. (SHSE:600933) completed the acquisition of 67.5% stake in Föhl Die Casting (Taicang) Co., Ltd. from FÖHl Beteiligungen Gmbh and Föhl Asia Pacific Limited on July 20, 2022. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥19.39, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 27x in the Auto Components industry in China. Total returns to shareholders of 137% over the past three years. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥16.81, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 27x in the Auto Components industry in China. Total returns to shareholders of 123% over the past three years. Announcement • Jun 30
IKD Co., Ltd. (SHSE:600933) entered into equity transfer agreement to acquire 67.5% stake in Föhl Die Casting (Taicang) Co., Ltd. from FÖHl Beteiligungen Gmbh and Föhl Asia Pacific Limited for approximately CNY 300 million. IKD Co., Ltd. (SHSE:600933) entered into equity transfer agreement to acquire 67.5% stake in Föhl Die Casting (Taicang) Co., Ltd. from FÖHl Beteiligungen Gmbh and Föhl Asia Pacific Limited for approximately CNY 300 million on June 28, 2022. As per the transaction, FÖHl Beteiligungen Gmbh will sell 43.75% stake and Föhl Asia Pacific Limited will sell 23.75% stake in Föhl Die Casting (Taicang) Co., Ltd. As on December 31, 2021, Föhl Die Casting (Taicang) Co., Ltd. generated total assets of CNY 300 million, net assets of CNY 188.6 million, operating income of CNY 319.9 million and net profit of CNY 34.2 million. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥16.59, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 27x in the Auto Components industry in China. Total returns to shareholders of 118% over the past three years. Board Change • May 29
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. 4 non-independent directors. Independent Director Xiaobo Wu 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 • Apr 28
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CN¥0.10 (down from CN¥0.13 in 1Q 2021). Revenue: CN¥902.9m (up 13% from 1Q 2021). Net income: CN¥84.9m (down 21% from 1Q 2021). Profit margin: 9.4% (down from 13% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 33%. Over the next year, revenue is forecast to grow 26%, compared to a 31% growth forecast for the 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 increased by 3% per year, which means it is well ahead of earnings. Price Target Changed • Apr 27
Price target decreased to CN¥18.41 Down from CN¥21.53, the current price target is an average from 5 analysts. New target price is 85% above last closing price of CN¥9.97. Stock is down 31% over the past year. The company is forecast to post earnings per share of CN¥0.62 for next year compared to CN¥0.36 last year. Board Change • Apr 27
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. 9 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Xiaobo Wu 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. Major Estimate Revision • Mar 24
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from CN¥0.75 to CN¥0.62 per share. Revenue forecast steady at CN¥3.98b. Net income forecast to grow 72% next year vs 60% growth forecast for Auto Components industry in China. Consensus price target down from CN¥21.53 to CN¥18.41. Share price fell 8.7% to CN¥12.45 over the past week. Price Target Changed • Mar 19
Price target decreased to CN¥19.86 Down from CN¥21.53, the current price target is an average from 3 analysts. New target price is 49% above last closing price of CN¥13.31. Stock is down 19% over the past year. The company is forecast to post earnings per share of CN¥0.71 for next year compared to CN¥0.36 last year. Reported Earnings • Mar 18
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: CN¥0.36 (down from CN¥0.50 in FY 2020). Revenue: CN¥3.21b (up 24% from FY 2020). Net income: CN¥309.9m (down 27% from FY 2020). Profit margin: 9.7% (down from 16% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 32%. Over the next year, revenue is forecast to grow 24%, compared to a 34% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥13.94, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 23x in the Auto Components industry in China. Total returns to shareholders of 52% over the past three years. Price Target Changed • Jan 13
Price target increased to CN¥21.72 Up from CN¥20.02, the current price target is an average from 4 analysts. New target price is 12% above last closing price of CN¥19.31. Stock is up 29% over the past year. The company is forecast to post earnings per share of CN¥0.48 for next year compared to CN¥0.50 last year. Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥17.77, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 26x in the Auto Components industry in China. Total returns to shareholders of 137% over the past three years. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.091 (vs CN¥0.13 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¥780.4m (up 9.3% from 3Q 2020). Net income: CN¥80.6m (down 27% from 3Q 2020). Profit margin: 10% (down from 16% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Reported Earnings • Aug 19
Second quarter 2021 earnings released: EPS CN¥0.10 (vs CN¥0.057 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥770.2m (up 84% from 2Q 2020). Net income: CN¥90.6m (up 100% from 2Q 2020). Profit margin: 12% (up from 11% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS CN¥0.13 (vs CN¥0.11 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: CN¥801.4m (up 31% from 1Q 2020). Net income: CN¥107.6m (up 11% from 1Q 2020). Profit margin: 13% (down from 16% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Price Target Changed • Apr 06
Price target increased to CN¥20.02 Up from CN¥17.80, the current price target is an average from 6 analysts. New target price is 19% above last closing price of CN¥16.79. Stock is up 71% over the past year. Reported Earnings • Mar 26
Full year 2020 earnings released: EPS CN¥0.50 (vs CN¥0.52 in FY 2019) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: CN¥2.59b (down 1.4% from FY 2019). Net income: CN¥425.9m (down 3.1% from FY 2019). Profit margin: 16% (in line with FY 2019). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Mar 04
IKD Co., Ltd. to Report Fiscal Year 2020 Results on Mar 26, 2021 IKD Co., Ltd. announced that they will report fiscal year 2020 results on Mar 26, 2021 Is New 90 Day High Low • Feb 20
New 90-day high: CN¥17.63 The company is up 4.0% from its price of CN¥16.94 on 20 November 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Auto Components industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥2.58 per share. Price Target Changed • Jan 26
Price target raised to CN¥17.80 Up from CN¥16.43, the current price target is an average from 6 analysts. The new target price is 7.7% above the current share price of CN¥16.53. As of last close, the stock is up 18% over the past year. 