New Risk • May 11
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% 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 Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risk Large one-off items impacting financial results. Declared Dividend • May 03
Dividend increased to CN¥0.20 Dividend of CN¥0.20 is 100% higher than last year. Ex-date: 12th May 2026 Payment date: 12th May 2026 Dividend yield will be 0.08%, which is lower than the industry average of 1.2%. Payout Ratios Payout ratio: 24%. Cash payout ratio: 51%. Reported Earnings • Apr 23
First quarter 2026 earnings released: EPS: CN¥0.18 (vs CN¥0.044 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.18 (up from CN¥0.044 in 1Q 2025). Revenue: CN¥426.5m (up 61% from 1Q 2025). Net income: CN¥44.7m (up 313% from 1Q 2025). Profit margin: 11% (up from 4.1% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 41% p.a. on average during the next 2 years, compared to a 33% growth forecast for the Communications 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 increased by 91% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 31
Advanced Fiber Resources (Zhuhai), Ltd. to Report Q1, 2026 Results on Apr 23, 2026 Advanced Fiber Resources (Zhuhai), Ltd. announced that they will report Q1, 2026 results on Apr 23, 2026 New Risk • Mar 30
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 29% 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 Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk Large one-off items impacting financial results. Reported Earnings • Mar 24
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: CN¥0.71 (up from CN¥0.27 in FY 2024). Revenue: CN¥1.47b (up 48% from FY 2024). Net income: CN¥176.7m (up 164% from FY 2024). Profit margin: 12% (up from 6.7% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 32%. Revenue is forecast to grow 32% p.a. on average during the next 2 years, compared to a 29% growth forecast for the Communications 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 increased by 81% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 24
Advanced Fiber Resources (Zhuhai), Ltd. announced that it expects to receive CNY 300 million in funding Advanced Fiber Resources (Zhuhai), Ltd. announced a private placement to issue A shares for gross proceeds of CNY 300,000,000 on March 23, 2026. The number of shares to be issued shall be determined according to the total amount of funds raised divided by the issue price, and shall not exceed 30% of the company's total share capital before the issuance. The issue price shall not be lower than 80% of the average stock trading price over the 20 trading days prior to the pricing benchmark date. Shares issued to specific targets may not be transferred within six months from the completion of the issuance, unless otherwise stipulated by laws and regulations regarding the lock-up period. The company has received approval in the 21st meeting of the fourth bard of directors. Announcement • Mar 23
Advanced Fiber Resources (Zhuhai), Ltd., Annual General Meeting, Apr 13, 2026 Advanced Fiber Resources (Zhuhai), Ltd., Annual General Meeting, Apr 13, 2026, at 14:30 China Standard Time. Location: 7F, No. 399, Chuangxin 3rd Road, Tangjiawan Town, High-tech Zone, Zhuhai, Guangdong China Announcement • Dec 31
Advanced Fiber Resources (Zhuhai), Ltd. to Report Fiscal Year 2025 Results on Mar 24, 2026 Advanced Fiber Resources (Zhuhai), Ltd. announced that they will report fiscal year 2025 results on Mar 24, 2026 Announcement • Oct 29
Advanced Fiber Resources (Zhuhai), Ltd. Announces Board Elections Advanced Fiber Resources (Zhuhai), Ltd. held its 1st Extraordinary General Meeting of 2025 on 27 October 2025, approved By-election of directors and legal representative: Qu Zhichao, non-independent executive director and legal representative; Liu Jiajie, non-independent director. Reported Earnings • Oct 23
Third quarter 2025 earnings released: EPS: CN¥0.26 (vs CN¥0.10 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.26 (up from CN¥0.10 in 3Q 2024). Revenue: CN¥401.8m (up 27% from 3Q 2024). Net income: CN¥63.4m (up 149% from 3Q 2024). Profit margin: 16% (up from 8.0% in 3Q 2024). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Communications industry in China. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 65% per year, which means it is well ahead of earnings. Announcement • Sep 30
Advanced Fiber Resources (Zhuhai), Ltd. to Report Q3, 2025 Results on Oct 23, 2025 Advanced Fiber Resources (Zhuhai), Ltd. announced that they will report Q3, 2025 results on Oct 23, 2025 Reported Earnings • Aug 19
Second quarter 2025 earnings released: EPS: CN¥0.17 (vs CN¥0.097 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.17 (up from CN¥0.097 in 2Q 2024). Revenue: CN¥331.4m (up 27% from 2Q 2024). Net income: CN¥41.0m (up 72% from 2Q 2024). Profit margin: 12% (up from 9.1% in 2Q 2024). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Communications industry in China. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 49% per year, which means it is well ahead of earnings. New Risk • Aug 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 8.3% 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 Share price has been volatile over the past 3 months (8.3% average weekly change). Large one-off items impacting financial results. Board Change • Aug 12
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 3 experienced directors. 2 highly experienced directors. Co-Chairman, GM & CEO XL Wang is the most experienced director on the board, commencing their role in 2007. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Jul 02
Advanced Fiber Resources (Zhuhai), Ltd. to Report First Half, 2025 Results on Aug 18, 2025 Advanced Fiber Resources (Zhuhai), Ltd. announced that they will report first half, 2025 results on Aug 18, 2025 Declared Dividend • May 05
Dividend of CN¥0.10 announced Dividend of CN¥0.10 is the same as last year. Ex-date: 12th May 2025 Payment date: 12th May 2025 Dividend yield will be 0.2%, which is lower than the industry average of 1.2%. Announcement • Apr 01
Advanced Fiber Resources (Zhuhai), Ltd. Proposes Final Cash Dividend for the Year 2024 On March 31, 2025, Advanced Fiber Resources (Zhuhai), Ltd. proposed final cash dividend for the year 2024 as follows: Cash dividend/10 shares (tax included): CNY 1.00000000. Announcement • Mar 31
Advanced Fiber Resources (Zhuhai), Ltd. to Report Q1, 2025 Results on Apr 24, 2025 Advanced Fiber Resources (Zhuhai), Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025 Reported Earnings • Mar 30
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: CN¥0.27 (up from CN¥0.24 in FY 2023). Revenue: CN¥998.9m (up 41% from FY 2023). Net income: CN¥67.0m (up 12% from FY 2023). Profit margin: 6.7% (down from 8.4% in FY 2023). Revenue exceeded analyst estimates by 5.0%. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Communications industry in China. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Announcement • Mar 29
Advanced Fiber Resources (Zhuhai), Ltd., Annual General Meeting, Apr 22, 2025 Advanced Fiber Resources (Zhuhai), Ltd., Annual General Meeting, Apr 22, 2025, at 14:30 China Standard Time. Location: 7F, No. 399, Chuangxin 3rd Road, Tangjiawan Town, High-tech Zone, Zhuhai, Guangdong China Announcement • Dec 31
Advanced Fiber Resources (Zhuhai), Ltd. to Report Fiscal Year 2024 Results on Mar 29, 2025 Advanced Fiber Resources (Zhuhai), Ltd. announced that they will report fiscal year 2024 results on Mar 29, 2025 New Risk • Oct 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 38% 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: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.4% net profit margin). Reported Earnings • Oct 23
Third quarter 2024 earnings released: EPS: CN¥0.10 (vs CN¥0.062 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.10 (up from CN¥0.062 in 3Q 2023). Revenue: CN¥317.5m (up 71% from 3Q 2023). Net income: CN¥25.5m (up 70% from 3Q 2023). Profit margin: 8.0% (down from 8.1% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Communications industry in China. 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 20% per year, which means it is well ahead of earnings. New Risk • Sep 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.3% net profit margin). Announcement • Sep 30
Advanced Fiber Resources (Zhuhai), Ltd. to Report Q3, 2024 Results on Oct 23, 2024 Advanced Fiber Resources (Zhuhai), Ltd. announced that they will report Q3, 2024 results on Oct 23, 2024 New Risk • Aug 26
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 180% 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: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.3% net profit margin). Reported Earnings • Aug 21
Second quarter 2024 earnings released: EPS: CN¥0.097 (vs CN¥0.066 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.097 (up from CN¥0.066 in 2Q 2023). Revenue: CN¥261.2m (up 42% from 2Q 2023). Net income: CN¥23.8m (up 47% from 2Q 2023). Profit margin: 9.1% (up from 8.8% in 2Q 2023). 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 Communications industry in China. 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 8% per year, which means it is well ahead of earnings. Announcement • Jun 29
Advanced Fiber Resources (Zhuhai), Ltd. to Report First Half, 2024 Results on Aug 20, 2024 Advanced Fiber Resources (Zhuhai), Ltd. announced that they will report first half, 2024 results on Aug 20, 2024 Declared Dividend • May 12
Dividend of CN¥0.10 announced Shareholders will receive a dividend of CN¥0.10. Ex-date: 16th May 2024 Payment date: 16th May 2024 Dividend yield will be 0.2%, which is lower than the industry average of 1.2%. Announcement • May 11
Advanced Fiber Resources (Zhuhai), Ltd. Proposes Final Cash Dividend on A Shares for the Year 2023, Payable on 16 May 2024 Advanced Fiber Resources (Zhuhai), Ltd. proposed 2023 final cash dividend on A shares of CNY 1.00000000 per ten shares (tax included). Record date: 15 May 2024. Ex-date: 16 May 2024. Payment date: 16 May 2024. Net cash dividend/10 shares after tax: CNY 0.90000000 (CNY 1.00000000- CNY 0.10000000). New Risk • May 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 293% 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: Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.1% net profit margin). Reported Earnings • Apr 24
First quarter 2024 earnings released: EPS: CN¥0.026 (vs CN¥0.062 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.026 (down from CN¥0.062 in 1Q 2023). Revenue: CN¥160.2m (up 3.4% from 1Q 2023). Net income: CN¥6.49m (down 58% from 1Q 2023). Profit margin: 4.1% (down from 10.0% in 1Q 2023). 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 Communications industry in China. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 37% per year, which means it is well ahead of earnings. New Risk • Apr 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 92% 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 Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (8.4% net profit margin). Announcement • Apr 05
Advanced Fiber Resources (Zhuhai), Ltd. Proposes Final Cash Dividend for the Year 2023 Advanced Fiber Resources (Zhuhai), Ltd. proposed final cash dividend of CNY 1.000000 per 10 shares (tax included) for the year 2023. Announcement • Apr 03
Advanced Fiber Resources (Zhuhai), Ltd., Annual General Meeting, Apr 26, 2024 Advanced Fiber Resources (Zhuhai), Ltd., Annual General Meeting, Apr 26, 2024, at 14:30 China Standard Time. Location: 7F, No. 399, Chuangxin 3rd Road, Tangjiawan Town, High-tech Zone, Zhuhai, Guangdong China Announcement • Mar 30
Advanced Fiber Resources (Zhuhai), Ltd. to Report Q1, 2024 Results on Apr 24, 2024 Advanced Fiber Resources (Zhuhai), Ltd. announced that they will report Q1, 2024 results on Apr 24, 2024 Announcement • Dec 29
Advanced Fiber Resources (Zhuhai), Ltd. to Report Fiscal Year 2023 Results on Apr 03, 2024 Advanced Fiber Resources (Zhuhai), Ltd. announced that they will report fiscal year 2023 results on Apr 03, 2024 Reported Earnings • Oct 24
Third quarter 2023 earnings released: EPS: CN¥0.062 (vs CN¥0.13 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.062 (down from CN¥0.13 in 3Q 2022). Revenue: CN¥185.3m (up 3.6% from 3Q 2022). Net income: CN¥15.0m (down 53% from 3Q 2022). Profit margin: 8.1% (down from 18% in 3Q 2022). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Communications industry in China. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 16% per year. Announcement • Sep 30
Advanced Fiber Resources (Zhuhai), Ltd. to Report Q3, 2023 Results on Oct 24, 2023 Advanced Fiber Resources (Zhuhai), Ltd. announced that they will report Q3, 2023 results on Oct 24, 2023 Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: CN¥0.066 (vs CN¥0.14 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.066 (down from CN¥0.14 in 2Q 2022). Revenue: CN¥183.7m (up 5.5% from 2Q 2022). Net income: CN¥16.2m (down 54% from 2Q 2022). Profit margin: 8.8% (down from 20% in 2Q 2022). Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Communications industry in China. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 01
Advanced Fiber Resources (Zhuhai), Ltd. to Report First Half, 2023 Results on Aug 15, 2023 Advanced Fiber Resources (Zhuhai), Ltd. announced that they will report first half, 2023 results on Aug 15, 2023 Major Estimate Revision • May 27
Consensus EPS estimates increase by 57% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from CN¥0.527 to CN¥0.824. Revenue forecast unchanged at CN¥757.0m. Net income forecast to grow 64% next year vs 44% growth forecast for Communications industry in China. Consensus price target of CN¥30.67 unchanged from last update. Share price rose 37% to CN¥51.99 over the past week. Reported Earnings • Apr 17
First quarter 2023 earnings released: EPS: CN¥0.093 (vs CN¥0.14 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.093 (down from CN¥0.14 in 1Q 2022). Revenue: CN¥155.0m (up 9.9% from 1Q 2022). Net income: CN¥15.5m (down 33% from 1Q 2022). Profit margin: 10.0% (down from 16% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 36% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Communications industry in China. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥55.01, the stock trades at a forward P/E ratio of 50x. Average forward P/E is 28x in the Communications industry in China. Total returns to shareholders of 131% over the past three years. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥46.88, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 27x in the Communications industry in China. Total returns to shareholders of 87% over the past three years. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥42.47, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 22x in the Communications industry in China. Total returns to shareholders of 77% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥49.43 per share. Buying Opportunity • Nov 18
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be CN¥49.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 96% in 2 years. Earnings is forecast to grow by 105% in the next 2 years. Board Change • Nov 16
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 3 experienced directors. No highly experienced directors. Director Yuling Wu is the most experienced director on the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 21
Third quarter 2022 earnings released: EPS: CN¥0.20 (vs CN¥0.25 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.20 (down from CN¥0.25 in 3Q 2021). Revenue: CN¥178.8m (flat on 3Q 2021). Net income: CN¥32.1m (down 20% from 3Q 2021). Profit margin: 18% (down from 22% in 3Q 2021). Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Communications industry in China. 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 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 20
Second quarter 2022 earnings released: EPS: CN¥0.22 (vs CN¥0.20 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.22 (up from CN¥0.20 in 2Q 2021). Revenue: CN¥174.1m (up 7.4% from 2Q 2021). Net income: CN¥35.0m (up 6.7% from 2Q 2021). Profit margin: 20% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 54%, compared to a 29% growth forecast for the Communications industry in China. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 27% per year. Buying Opportunity • Aug 12
Now 23% undervalued Over the last 90 days, the stock is up 86%. The fair value is estimated to be CN¥62.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 94% in 2 years. Earnings is forecast to grow by 104% in the next 2 years. Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥39.91, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 25x in the Communications industry in China. Total returns to shareholders of 92% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥62.76 per share. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥38.30, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 23x in the Communications industry in China. Total returns to shareholders of 65% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥62.54 per share. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥30.20, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 23x in the Communications industry in China. Total returns to shareholders of 30% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥56.40 per share. Announcement • May 21
Advanced Fiber Resources (Zhuhai), Ltd. Announces 2021 Final Profit Distribution Plan to Be Implemented (A Shares), Payable on May 26, 2022 Advanced Fiber Resources (Zhuhai), Ltd. announced 2021 final profit distribution plan to be implemented (A shares), payable on May 26, 2022. The company announced Cash dividend/10 shares (tax included) of CNY 2.00000000 with record date May 25, 2022 and ex-dividend date May 26, 2022. Announcement • Apr 27
Advanced Fiber Resources (Zhuhai), Ltd. Approves Cash Dividend for 2021 Advanced Fiber Resources (Zhuhai), Ltd., at the AGM held on 22 April 2022 approved Cash dividend/10 shares (tax included) of CNY 2.00000000 for 2021. Reported Earnings • Apr 27
First quarter 2022 earnings: EPS misses analyst expectations First quarter 2022 results: EPS: CN¥0.14 (down from CN¥0.15 in 1Q 2021). Revenue: CN¥141.0m (down 3.0% from 1Q 2021). Net income: CN¥22.9m (down 7.6% from 1Q 2021). Profit margin: 16% (in line with 1Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.5%. Over the next year, revenue is forecast to grow 48%, compared to a 30% growth forecast for the industry in China. 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 1% per year, which means it is significantly lagging earnings. Board Change • Apr 27
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. Non-Independent Director Zhengran Hu is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Apr 03
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: CN¥0.80 (up from CN¥0.37 in FY 2020). Revenue: CN¥667.8m (up 36% from FY 2020). Net income: CN¥130.8m (up 121% from FY 2020). Profit margin: 20% (up from 12% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.5%. Over the next year, revenue is forecast to grow 39%, compared to a 32% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Apr 02
Advanced Fiber Resources (Zhuhai), Ltd., Annual General Meeting, Apr 22, 2022 Advanced Fiber Resources (Zhuhai), Ltd., Annual General Meeting, Apr 22, 2022, at 14:30 China Standard Time. Agenda: To consider 2021 work report of the board of directors; to consider 2021 work report of the supervisory committee; to consider 2021 annual report and its summary; to consider 2021 annual accounts; to consider 2021 profit distribution plan; to consider reappointment of audit firm; to consider 2022 remuneration plan for directors, supervisors and senior management; to consider repurchase and cancellation of some restricted stocks; to consider amendments to the Company's articles of association and handling the industrial and commercial registration of changes; and to consider by-election of non-employee supervisors. Announcement • Apr 01
Advanced Fiber Resources (Zhuhai), Ltd. Proposes Final Cash Dividend for 2021 Advanced Fiber Resources (Zhuhai), Ltd. proposed final cash dividend of CNY 2.00000000 per 10 shares (tax included) for 2021. Buying Opportunity • Mar 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 25%. The fair value is estimated to be CN¥53.36, 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% per annum over the last 3 years. Earnings per share has declined by 5.3% per annum over the last 3 years. Buying Opportunity • Feb 10
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be CN¥53.30, 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% per annum over the last 3 years. Earnings per share has declined by 5.3% per annum over the last 3 years. Reported Earnings • Oct 27
Third quarter 2021 earnings released: EPS CN¥0.37 (vs CN¥0.21 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥179.7m (up 31% from 3Q 2020). Net income: CN¥40.0m (up 112% from 3Q 2020). Profit margin: 22% (up from 14% in 3Q 2020). The increase in margin was driven by higher revenue. 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 22% per year, which means it is well ahead of earnings. Reported Earnings • Aug 25
Second quarter 2021 earnings released: EPS CN¥0.31 (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¥162.2m (up 22% from 2Q 2020). Net income: CN¥32.8m (up 95% from 2Q 2020). Profit margin: 20% (up from 13% 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 13% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥51.67, the stock trades at a trailing P/E ratio of 75.8x. Average trailing P/E is 45x in the Communications industry in China. Total returns to shareholders of 26% over the past three years. Announcement • May 29
Advanced Fiber Resources (Zhuhai), Ltd. Announces Cash Dividend for the Year 2020, Payable on June 4, 2021 Advanced Fiber Resources (Zhuhai), Ltd. announced Cash dividend/10 shares CNY 2.00000000 (tax included) for the year 2020. Record date is 03 June 2021, Ex-date is 04 June 2021, Payment date is 04 June 2021. Reported Earnings • Apr 28
First quarter 2021 earnings released: EPS CN¥0.23 (vs CN¥0.088 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥145.3m (up 91% from 1Q 2020). Net income: CN¥24.8m (up 208% from 1Q 2020). Profit margin: 17% (up from 11% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥40.84, the stock trades at a trailing P/E ratio of 73.9x. Average trailing P/E is 50x in the Communications industry in China. Total returns to shareholders of 7.4% over the past three years. Reported Earnings • Apr 02
Full year 2020 earnings released: EPS CN¥0.55 (vs CN¥0.64 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¥491.6m (up 26% from FY 2019). Net income: CN¥59.2m (up 3.0% from FY 2019). Profit margin: 12% (down from 15% 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 14% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Mar 12
New 90-day low: CN¥34.22 The company is down 23% from its price of CN¥44.46 on 11 December 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Communications industry, which is down 14% over the same period. Announcement • Feb 24
Advanced Fiber Resources (Zhuhai), Ltd. to Report Fiscal Year 2020 Results on Mar 31, 2021 Advanced Fiber Resources (Zhuhai), Ltd. announced that they will report fiscal year 2020 results on Mar 31, 2021 Is New 90 Day High Low • Feb 04
New 90-day low: CN¥36.46 The company is down 31% from its price of CN¥52.66 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 Communications industry, which is down 18% over the same period. Is New 90 Day High Low • Dec 18
New 90-day low: CN¥43.06 The company is down 15% from its price of CN¥50.46 on 18 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Communications industry, which is down 9.0% over the same period. Is New 90 Day High Low • Oct 19
New 90-day high: CN¥57.92 The company is up 13% from its price of CN¥51.34 on 21 July 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Communications industry, which is down 5.0% over the same period. Reported Earnings • Oct 13
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥52.7m, down 11% from the prior year. Total revenue was CN¥458.9m over the last 12 months, up 27% from the prior year. Is New 90 Day High Low • Sep 28
New 90-day low: CN¥43.33 The company is down 7.0% from its price of CN¥46.62 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 Communications industry, which is down 2.0% over the same period. Announcement • Jul 22
Advanced Fiber Resources (Zhuhai), Ltd. to Report First Half, 2020 Results on Aug 17, 2020 Advanced Fiber Resources (Zhuhai), Ltd. announced that they will report first half, 2020 results on Aug 17, 2020 
