Reported Earnings • Apr 13
Full year 2025 earnings released: EPS: CN¥0.04 (vs CN¥0.18 in FY 2024) Full year 2025 results: EPS: CN¥0.04 (down from CN¥0.18 in FY 2024). Revenue: CN¥921.7m (up 30% from FY 2024). Net income: CN¥11.5m (down 75% from FY 2024). Profit margin: 1.3% (down from 6.5% in FY 2024). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Apr 13
Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd., Annual General Meeting, May 08, 2026 Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd., Annual General Meeting, May 08, 2026, at 13:30 China Standard Time. Location: The Company's Meeting Room, Huzhou, Zhejiang China Announcement • Mar 30
Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. to Report Q1, 2026 Results on Apr 29, 2026 Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026 Announcement • Dec 26
Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. to Report Fiscal Year 2025 Results on Apr 13, 2026 Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. announced that they will report fiscal year 2025 results on Apr 13, 2026 Reported Earnings • Oct 29
Third quarter 2025 earnings released: EPS: CN¥0.003 (vs CN¥0.004 loss in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.003 (up from CN¥0.004 loss in 3Q 2024). Revenue: CN¥240.5m (up 44% from 3Q 2024). Net income: CN¥1.12m (up CN¥2.02m from 3Q 2024). Profit margin: 0.5% (up from net loss in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. to Report Q3, 2025 Results on Oct 29, 2025 Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 Announcement • Jun 30
Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. to Report First Half, 2025 Results on Aug 09, 2025 Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. announced that they will report first half, 2025 results on Aug 09, 2025 New Risk • Apr 28
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% 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 Risks Earnings have declined by 22% per year over the past 5 years. High level of non-cash earnings (22% accrual ratio). Reported Earnings • Apr 24
Full year 2024 earnings released: EPS: CN¥0.18 (vs CN¥0.08 in FY 2023) Full year 2024 results: EPS: CN¥0.18 (up from CN¥0.08 in FY 2023). Revenue: CN¥707.0m (up 9.1% from FY 2023). Net income: CN¥46.1m (up 131% from FY 2023). Profit margin: 6.5% (up from 3.1% in FY 2023). 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 28% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 23
Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd., Annual General Meeting, May 13, 2025 Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd., Annual General Meeting, May 13, 2025, at 13:30 China Standard Time. Location: The Company's Meeting Room, Huzhou, Zhejiang China Announcement • Mar 28
Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. to Report Q1, 2025 Results on Apr 26, 2025 Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 Announcement • Dec 27
Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. to Report Fiscal Year 2024 Results on Apr 23, 2025 Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. announced that they will report fiscal year 2024 results on Apr 23, 2025 Reported Earnings • Oct 30
Third quarter 2024 earnings released: CN¥0.003 loss per share (vs CN¥0.002 loss in 3Q 2023) Third quarter 2024 results: CN¥0.003 loss per share (further deteriorated from CN¥0.002 loss in 3Q 2023). Revenue: CN¥166.6m (up 13% from 3Q 2023). Net loss: CN¥903.3k (loss widened 35% from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Announcement • Sep 30
Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. to Report Q3, 2024 Results on Oct 30, 2024 Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 New Risk • Aug 31
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 23% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 34% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Reported Earnings • Aug 24
Second quarter 2024 earnings released: EPS: CN¥0.03 (vs CN¥0.03 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.03 (in line with 2Q 2023). Revenue: CN¥152.4m (up 5.6% from 2Q 2023). Net income: CN¥8.49m (up 3.4% from 2Q 2023). Profit margin: 5.6% (down from 5.7% 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 42% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Jun 28
Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. to Report First Half, 2024 Results on Aug 24, 2024 Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. announced that they will report first half, 2024 results on Aug 24, 2024 Announcement • Apr 21
Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd., Annual General Meeting, May 10, 2024 Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd., Annual General Meeting, May 10, 2024, at 13:30 China Standard Time. Location: The Company's Meeting Room, Huzhou, Zhejiang China Reported Earnings • Apr 20
Full year 2023 earnings released: EPS: CN¥0.08 (vs CN¥0.04 in FY 2022) Full year 2023 results: EPS: CN¥0.08 (up from CN¥0.04 in FY 2022). Revenue: CN¥648.1m (up 32% from FY 2022). Net income: CN¥20.0m (up 80% from FY 2022). Profit margin: 3.1% (up from 2.3% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Mar 29
Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Board Change • Jan 23
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Director Fuliang Chen was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Dec 30
Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. to Report Fiscal Year 2023 Results on Apr 20, 2024 Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. announced that they will report fiscal year 2023 results on Apr 20, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: CN¥0.002 loss per share (vs CN¥0.002 loss in 3Q 2022) Third quarter 2023 results: CN¥0.002 loss per share (in line with 3Q 2022). Revenue: CN¥147.5m (up 19% from 3Q 2022). Net loss: CN¥670.0k (loss widened 62% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: CN¥0.03 (vs CN¥0.032 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.03. Revenue: CN¥144.3m (up 37% from 2Q 2022). Net income: CN¥8.21m (up 21% from 2Q 2022). Profit margin: 5.7% (down from 6.5% in 2Q 2022). Announcement • Jun 28
Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. to Report First Half, 2023 Results on Aug 29, 2023 Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. announced that they will report first half, 2023 results on Aug 29, 2023 Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: CN¥0.03 (vs CN¥0.02 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.03 (up from CN¥0.02 in 1Q 2022). Revenue: CN¥148.4m (up 16% from 1Q 2022). Net income: CN¥6.73m (up 16% from 1Q 2022). Profit margin: 4.5% (in line with 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Director Lin Hong was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 30
Third quarter 2022 earnings released: CN¥0.002 loss per share (vs CN¥0.02 profit in 3Q 2021) Third quarter 2022 results: CN¥0.002 loss per share (down from CN¥0.02 profit in 3Q 2021). Revenue: CN¥124.3m (down 7.1% from 3Q 2021). Net loss: CN¥413.6k (down 108% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: CN¥0.032 (vs CN¥0.033 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.032 (down from CN¥0.033 in 2Q 2021). Revenue: CN¥105.0m (down 32% from 2Q 2021). Net income: CN¥6.80m (down 32% from 2Q 2021). Profit margin: 6.5% (up from 6.4% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Apr 27
Full year 2021 earnings released: EPS: CN¥0.15 (vs CN¥0.25 in FY 2020) Full year 2021 results: EPS: CN¥0.15 (down from CN¥0.25 in FY 2020). Revenue: CN¥592.5m (down 1.2% from FY 2020). Net income: CN¥38.9m (down 39% from FY 2020). Profit margin: 6.6% (down from 11% in FY 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Dec 08
Dehong Automotive Electronic Plans to Buy Controlling Stake in Auto Parts Firm Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd. (SHSE:603701) said it plans to buy controlling stake in chongqing-based autoparts firm, transaction details to be confirmed. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥10.40, the stock trades at a trailing P/E ratio of 64.8x. Average trailing P/E is 44x in the Auto Components industry in China. Total returns to shareholders of 57% over the past three years. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.02 (vs CN¥0.08 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥133.8m (down 24% from 3Q 2020). Net income: CN¥5.37m (down 75% from 3Q 2020). Profit margin: 4.0% (down from 12% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • Aug 25
Second quarter 2021 earnings released: EPS CN¥0.033 (vs CN¥0.10 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥155.2m (down 4.8% from 2Q 2020). Net income: CN¥9.94m (down 53% from 2Q 2020). Profit margin: 6.4% (down from 13% in 2Q 2020). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Reported Earnings • Apr 25
Full year 2020 earnings released: EPS CN¥0.25 (vs CN¥0.21 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: CN¥599.8m (up 26% from FY 2019). Net income: CN¥63.5m (up 10% from FY 2019). Profit margin: 11% (down from 12% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Mar 18
Full year 2020 earnings released: EPS CN¥0.19 (vs CN¥0.21 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: CN¥602.6m (up 27% from FY 2019). Net income: CN¥63.4m (up 10% from FY 2019). Profit margin: 11% (down from 12% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥9.51, the stock is trading at a trailing P/E ratio of 38.9x, up from the previous P/E ratio of 33.2x. This compares to an average P/E of 33x in the Auto Components industry in China. Total returns to shareholders over the past three years are 28%. Is New 90 Day High Low • Feb 05
New 90-day low: CN¥7.51 The company is down 23% from its price of CN¥9.73 on 06 November 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is down 3.0% over the same period. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥8.95, the stock is trading at a trailing P/E ratio of 36.6x, up from the previous P/E ratio of 31.2x. This compares to an average P/E of 33x in the Auto Components industry in China. Total returns to shareholders over the past three years are 9.9%. Is New 90 Day High Low • Jan 11
New 90-day low: CN¥7.87 The company is down 17% from its price of CN¥9.51 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 Auto Components industry, which is up 3.0% over the same period. Is New 90 Day High Low • Dec 22
New 90-day low: CN¥8.85 The company is down 4.0% from its price of CN¥9.21 on 23 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 Auto Components industry, which is up 5.0% over the same period. Is New 90 Day High Low • Nov 28
New 90-day high: CN¥10.73 The company is up 6.0% from its price of CN¥10.09 on 28 August 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Auto Components industry, which is also up 6.0% over the same period. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥64.2m, up 19% from the prior year. Total revenue was CN¥567.5m over the last 12 months, up 24% from the prior year. Is New 90 Day High Low • Sep 28
New 90-day low: CN¥8.94 The company is down 2.0% from its price of CN¥9.12 on 30 June 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 20% over the same period. Announcement • Aug 07
Ningbo Zhenhai Investment Co., Ltd. completed the acquisition of 30% stake in Zhejiang Dehong Automotive Electronic & Electrical Co.,Ltd. (SHSE:603701) from Zhang Yuanyuan. Ningbo Zhenhai Investment Co., Ltd. signed a share transfer framework agreement to acquire 30% stake in Zhejiang Dehong Automotive Electronic & Electrical Co.,Ltd. (SHSE:603701) from Zhang Yuanyuan for CNY 1.1 billion on June 13, 2020. On June 30, 2020, an agreement was signed. Ningbo Zhenhai Investment Co., Ltd. will acquire 78.8 million shares at CNY 13.8 per share. The transaction was approved by the Board of Ningbo Zhenhai Investment. As of July 15, 2020, the transaction was approved by People's Government of Zhenhai District of Ningbo City and the State-owned Assets Management and Service Center of Zhenhai District of Ningbo City.
Ningbo Zhenhai Investment Co., Ltd. completed the acquisition of 30% stake in Zhejiang Dehong Automotive Electronic & Electrical Co.,Ltd. (SHSE:603701) from Zhang Yuanyuan on August 4, 2020. Post the completion of the transaction, Ningbo Zhenhai holds 78.78 million shares, representing 29.99% stake and Zhang Yuanyuan holds 32.42 million shares, representing 12.34% stake in the company. Announcement • Jun 17
Ningbo Zhenhai Investment Co., Ltd. signed a share transfer framework agreement to acquire 30% stake in Zhejiang Dehong Automotive Electronic & Electrical Co.,Ltd. (SHSE:603701) from Zhang Yuanyuan for CNY 1.1 billion. Ningbo Zhenhai Investment Co., Ltd. signed a share transfer framework agreement to acquire 30% stake in Zhejiang Dehong Automotive Electronic & Electrical Co.,Ltd. (SHSE:603701) from Zhang Yuanyuan for CNY 1.1 billion on June 13, 2020. Transaction was approved by the Board of Ningbo Zhenhai Investment. 
