New Risk • May 21
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 0.6% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.2% net profit margin). Reported Earnings • Apr 29
Full year 2025 earnings released: EPS: CN¥0.15 (vs CN¥0.042 in FY 2024) Full year 2025 results: EPS: CN¥0.15 (up from CN¥0.042 in FY 2024). Revenue: CN¥15.1b (down 10% from FY 2024). Net income: CN¥495.0m (up 252% from FY 2024). Profit margin: 3.3% (up from 0.8% in FY 2024). Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Apr 29
Tsinghua Tongfang Co., Ltd., Annual General Meeting, May 21, 2026 Tsinghua Tongfang Co., Ltd., Annual General Meeting, May 21, 2026, at 09:00 China Standard Time. Location: No. 1, Wangzhuang Road, Haidian District, Beijing China Announcement • Mar 30
Tsinghua Tongfang Co., Ltd. to Report Q1, 2026 Results on Apr 29, 2026 Tsinghua Tongfang Co., Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026 Announcement • Dec 26
Tsinghua Tongfang Co., Ltd. to Report Fiscal Year 2025 Results on Apr 29, 2026 Tsinghua Tongfang Co., Ltd. announced that they will report fiscal year 2025 results on Apr 29, 2026 Reported Earnings • Nov 02
Third quarter 2025 earnings released: EPS: CN¥0.17 (vs CN¥0.008 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.17 (up from CN¥0.008 in 3Q 2024). Revenue: CN¥2.74b (down 9.7% from 3Q 2024). Net income: CN¥585.5m (up CN¥539.0m from 3Q 2024). Profit margin: 21% (up from 1.5% in 3Q 2024). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Tech industry in China. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Tsinghua Tongfang Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Tsinghua Tongfang Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Announcement • Jun 30
Tsinghua Tongfang Co., Ltd. to Report First Half, 2025 Results on Aug 30, 2025 Tsinghua Tongfang Co., Ltd. announced that they will report first half, 2025 results on Aug 30, 2025 Announcement • Apr 29
Tsinghua Tongfang Co., Ltd., Annual General Meeting, May 23, 2025 Tsinghua Tongfang Co., Ltd., Annual General Meeting, May 23, 2025, at 13:30 China Standard Time. Announcement • Mar 28
Tsinghua Tongfang Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Tsinghua Tongfang Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Announcement • Dec 27
Tsinghua Tongfang Co., Ltd. to Report Fiscal Year 2024 Results on Apr 29, 2025 Tsinghua Tongfang Co., Ltd. announced that they will report fiscal year 2024 results on Apr 29, 2025 Announcement • Nov 15
Shenzhen Maidijie Electronic Technology Co., Ltd. and Beijing Century Longmai Technology Co., Ltd. agreed to acquire Beijing Eren Eben Information Technology Co., Ltd. from Tsinghua Tongfang Co., Ltd. (SHSE:600100) for CNY 36 million Shenzhen Maidijie Electronic Technology Co., Ltd. and Beijing Century Longmai Technology Co., Ltd. agreed to acquire Beijing Eren Eben Information Technology Co., Ltd. from Tsinghua Tongfang Co., Ltd. (SHSE:600100) for CNY 36 million on November 13, 2024. A cash consideration of CNY 36 million will be paid by Shenzhen Maidijie Electronic Technology Co., Ltd. and Beijing Century Longmai Technology Co., Ltd. As part of consideration, CNY 36 million is paid towards common equity of Beijing Eren Eben Information Technology Co., Ltd. Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.008 (vs CN¥0.22 loss in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.008 (up from CN¥0.22 loss in 3Q 2023). Revenue: CN¥3.03b (down 60% from 3Q 2023). Net income: CN¥46.5m (up CN¥769.3m from 3Q 2023). Profit margin: 1.5% (up from net loss in 3Q 2023). Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Tech industry in China. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Tsinghua Tongfang Co., Ltd. to Report Q3, 2024 Results on Oct 30, 2024 Tsinghua Tongfang Co., Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: CN¥0.082 (vs CN¥0.052 loss in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.082 (up from CN¥0.052 loss in 2Q 2023). Revenue: CN¥3.37b (down 45% from 2Q 2023). Net income: CN¥187.2m (up CN¥362.3m from 2Q 2023). Profit margin: 5.6% (up from net loss in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Jun 28
Tsinghua Tongfang Co., Ltd. to Report First Half, 2024 Results on Aug 31, 2024 Tsinghua Tongfang Co., Ltd. announced that they will report first half, 2024 results on Aug 31, 2024 Reported Earnings • May 01
First quarter 2024 earnings released: CN¥0.047 loss per share (vs CN¥0.083 profit in 1Q 2023) First quarter 2024 results: CN¥0.047 loss per share (down from CN¥0.083 profit in 1Q 2023). Revenue: CN¥2.93b (down 33% from 1Q 2023). Net loss: CN¥159.1m (down 158% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Apr 29
Tsinghua Tongfang Co., Ltd., Annual General Meeting, May 17, 2024 Tsinghua Tongfang Co., Ltd., Annual General Meeting, May 17, 2024, at 13:30 China Standard Time. Location: No. 1, Wangzhuang Road, Haidian District, Beijing China Announcement • Mar 29
Tsinghua Tongfang Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Tsinghua Tongfang Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Announcement • Dec 29
Tsinghua Tongfang Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 27, 2024 Tsinghua Tongfang Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 27, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: CN¥0.22 loss per share (vs CN¥0.13 loss in 3Q 2022) Third quarter 2023 results: CN¥0.22 loss per share (further deteriorated from CN¥0.13 loss in 3Q 2022). Revenue: CN¥7.59b (up 49% from 3Q 2022). Net loss: CN¥722.8m (loss widened 71% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 18% 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 30
Second quarter 2023 earnings released: CN¥0.052 loss per share (vs CN¥0.045 profit in 2Q 2022) Second quarter 2023 results: CN¥0.052 loss per share (down from CN¥0.045 profit in 2Q 2022). Revenue: CN¥6.13b (up 31% from 2Q 2022). Net loss: CN¥175.1m (down 217% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: CN¥0.083 (vs CN¥0.16 loss in 1Q 2022) First quarter 2023 results: EPS: CN¥0.083 (up from CN¥0.16 loss in 1Q 2022). Revenue: CN¥4.36b (up 11% from 1Q 2022). Net income: CN¥276.4m (up CN¥827.2m from 1Q 2022). Profit margin: 6.3% (up from net loss in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 6 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Yang Li was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 30
Third quarter 2022 earnings released: CN¥0.13 loss per share (vs CN¥0.064 loss in 3Q 2021) Third quarter 2022 results: CN¥0.13 loss per share (further deteriorated from CN¥0.064 loss in 3Q 2021). Revenue: CN¥5.10b (down 20% from 3Q 2021). Net loss: CN¥422.9m (loss widened 112% from 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Reported Earnings • Sep 02
Second quarter 2022 earnings released: EPS: CN¥0.045 (vs CN¥0.18 loss in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.045 (up from CN¥0.18 loss in 2Q 2021). Revenue: CN¥4.70b (down 30% from 2Q 2021). Net income: CN¥150.2m (up CN¥685.8m from 2Q 2021). Profit margin: 3.2% (up from net loss in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 28
Full year 2021 earnings released: CN¥0.61 loss per share (vs CN¥0.035 profit in FY 2020) Full year 2021 results: CN¥0.61 loss per share (down from CN¥0.035 profit in FY 2020). Revenue: CN¥28.5b (up 9.8% from FY 2020). Net loss: CN¥1.88b (down CN¥1.98b from profit in FY 2020). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. Director Li Zhou was the last director to join the board, commencing their role in 2013. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 29
Second quarter 2021 earnings released: CN¥0.18 loss per share (vs CN¥0.14 profit in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: CN¥6.68b (up 31% from 2Q 2020). Net loss: CN¥535.6m (down 232% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Aug 18
Tsinghua Tongfang Co., Ltd. announced that it has received CNY 2.496136003 billion in funding from National Civil-Military Integration Industrial Investment Fund Co., Ltd., China National Nuclear Corporation Capital Holding Co., Ltd. On August 16, 2021, Tsinghua Tongfang Co., Ltd. closed the transaction. The company paid tax underwriting and sponsorship fees of CNY 24,528,830.19, and expenses of 1,779,621.47. The company has received net proceeds of CNY 2,491,903,550.86 in the transaction. Reported Earnings • Apr 29
Full year 2020 earnings released: EPS CN¥0.035 (vs CN¥0.10 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: CN¥25.9b (up 12% from FY 2019). Net income: CN¥102.5m (down 66% from FY 2019). Profit margin: 0.4% (down from 1.3% in FY 2019). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 29
New 90-day low: CN¥5.52 The company is down 16% from its price of CN¥6.60 on 30 October 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 3.0% over the same period. Is New 90 Day High Low • Jan 13
New 90-day low: CN¥5.92 The company is down 17% from its price of CN¥7.13 on 15 October 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is flat over the same period. Is New 90 Day High Low • Dec 24
New 90-day low: CN¥6.03 The company is down 15% from its price of CN¥7.08 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 Tech industry, which is up 1.0% over the same period. Is New 90 Day High Low • Dec 09
New 90-day low: CN¥6.43 The company is down 14% from its price of CN¥7.48 on 10 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 Tech industry, which is up 5.0% over the same period. Reported Earnings • Nov 02
Third quarter 2020 earnings released: CN¥0.024 loss per share The company reported a soft third quarter result with weaker earnings and control over expenses, although revenues were improved. Third quarter 2020 results: Revenue: CN¥6.23b (up 8.4% from 3Q 2019). Net loss: CN¥71.8m (down 119% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Oct 24
New 90-day low: CN¥6.97 The company is down 9.0% from its price of CN¥7.64 on 24 July 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is down 6.0% over the same period. Announcement • Sep 24
Tsinghua Tongfang Co.,Ltd. announced that it expects to receive CNY 3.499999991 billion in funding from China National Nuclear Corporation Capital Holding Co., Ltd., National Civil-Military Integration Industrial Investment Fund Co., Ltd. Tsinghua Tongfang Co., Ltd. (SHSE:600100) announced that it has entered into share subscription agreement with new investor, National Civil-Military Integration Industrial Investment Fund Co., Ltd. and existing investor China National Nuclear Corporation Capital Holdings Limited for private placement of 538,461,537 shares of class A at issue price of CNY 6.50 per share for gross proceeds of CNY 3,499,999,990.5 on May 29, 2020. The new investor, National Civil-Military Integration Industrial Investment Fund Co., Ltd. subscribes for 153,846,153 shares for gross proceeds of CNY 999,999,994.50 and returning investor, China National Nuclear Corporation Capital Holdings Limited subscribes for 384,615,384 shares for gross proceeds of CNY 2,499,999,996. The transaction has been approved at the 4th meeting of the 8th supervisory board of the company. The transaction still needs to be approved by China National Nuclear Corporation, shareholders of the company at the general meeting, National Defense Science and Technology Industry Bureau, and China Securities Regulatory Commission. The subscription payment date shall be the date that the company obtains the approval from China Securities Regulatory Commission and the investor receives the subscription payment notice within 20 days from the start from the company. All the shares issued in the transaction shall have a lock up period of 18 months from the closing of the transaction.
On June 12, 2020, the company has received written reply from China National Nuclear Corporation, parent of China National Nuclear Corporation Capital Holding Co., Ltd. Is New 90 Day High Low • Sep 23
New 90-day low: CN¥7.22 The company is down 3.0% from its price of CN¥7.41 on 24 June 2020. The Chinese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 5.0% over the same period. Announcement • Jul 17
Tsinghua Tongfang Co.,Ltd. to Report First Half, 2020 Results on Aug 29, 2020 Tsinghua Tongfang Co.,Ltd. announced that they will report first half, 2020 results on Aug 29, 2020 
