Buy Or Sell Opportunity • Jun 22
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to CN¥4.83. The fair value is estimated to be CN¥6.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 48% over the last 3 years. Meanwhile, the company became loss making. Announcement • May 14
Asia Cuanon Technology (Shanghai) Co.,Ltd., Annual General Meeting, Jun 03, 2026 Asia Cuanon Technology (Shanghai) Co.,Ltd., Annual General Meeting, Jun 03, 2026, at 14:00 China Standard Time. Location: 1F, No. 28, Xintao Road, Qingpu Industrial Park, Shanghai China New Risk • Apr 30
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CN¥65m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CN¥59m free cash flow). Negative equity (-CN¥65m). Earnings have declined by 43% per year over the past 5 years. Announcement • Mar 30
Asia Cuanon Technology (Shanghai) Co.,Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Asia Cuanon Technology (Shanghai) Co.,Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 New Risk • Feb 02
New major risk - Revenue and earnings growth Earnings have declined by 33% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CN¥383m free cash flow). Earnings have declined by 33% per year over the past 5 years. Announcement • Dec 26
Asia Cuanon Technology (Shanghai) Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 30, 2026 Asia Cuanon Technology (Shanghai) Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 30, 2026 New Risk • Oct 31
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 7.9% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Share price has been volatile over the past 3 months (7.9% average weekly change). Announcement • Sep 30
Asia Cuanon Technology (Shanghai) Co.,Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Asia Cuanon Technology (Shanghai) Co.,Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Announcement • Jun 30
Asia Cuanon Technology (Shanghai) Co.,Ltd. to Report First Half, 2025 Results on Aug 30, 2025 Asia Cuanon Technology (Shanghai) Co.,Ltd. announced that they will report first half, 2025 results on Aug 30, 2025 Price Target Changed • Jun 18
Price target decreased by 17% to CN¥6.60 Down from CN¥7.98, the current price target is an average from 2 analysts. New target price is 12% above last closing price of CN¥5.90. The company is forecast to post a net loss per share of CN¥0.17 next year compared to a net loss per share of CN¥0.77 last year. Reported Earnings • Apr 30
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: CN¥0.77 loss per share (down from CN¥0.14 profit in FY 2023). Revenue: CN¥2.05b (down 34% from FY 2023). Net loss: CN¥329.3m (down CN¥389.5m from profit in FY 2023). Revenue missed analyst estimates by 25%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 28% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Apr 30
Asia Cuanon Technology (Shanghai) Co.,Ltd., Annual General Meeting, May 21, 2025 Asia Cuanon Technology (Shanghai) Co.,Ltd., Annual General Meeting, May 21, 2025, at 14:00 China Standard Time. Location: 1F, No. 28, Xintao Road, Qingpu Industrial Park, Shanghai China Announcement • Mar 28
Asia Cuanon Technology (Shanghai) Co.,Ltd. to Report Q1, 2025 Results on Apr 30, 2025 Asia Cuanon Technology (Shanghai) Co.,Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Announcement • Dec 27
Asia Cuanon Technology (Shanghai) Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 30, 2025 Asia Cuanon Technology (Shanghai) Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 30, 2025 Announcement • Nov 30
Caidong Huixin No. 4 Private Equity Securities Investment Fund managed Zhuhai Hengqin Caidong Fund Management Co., Ltd. agreed to acquire 5.14% stake in Asia Cuanon Technology (Shanghai) Co.,Ltd. (SHSE:603378) from Shanghai Chuangnengming Investment Co., Ltd. for approximately CNY 170 million. Caidong Huixin No. 4 Private Equity Securities Investment Fund managed Zhuhai Hengqin Caidong Fund Management Co., Ltd. agreed to acquire 5.14% stake in Asia Cuanon Technology (Shanghai) Co.,Ltd. (SHSE:603378) from Shanghai Chuangnengming Investment Co., Ltd. for approximately CNY 170 million on November 27, 2024. A cash consideration of CNY 165.22 million will be paid by Caidong Huixin No. 4 Private Equity Securities Investment Fund and Zhuhai Hengqin Caidong Fund Management Co., Ltd. As part of consideration, CNY 165.22 million is paid towards common equity of Asia Cuanon Technology (Shanghai) Co.,Ltd. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.001 (vs CN¥0.10 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.001 (down from CN¥0.10 in 3Q 2023). Revenue: CN¥681.8m (down 24% from 3Q 2023). Net income: CN¥534.6k (down 99% from 3Q 2023). Profit margin: 0.1% (down from 4.6% in 3Q 2023). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. New Risk • Sep 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 8.5% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.8% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (8.5% average weekly change). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.07% net profit margin). Announcement • Sep 30
Asia Cuanon Technology (Shanghai) Co.,Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Asia Cuanon Technology (Shanghai) Co.,Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: CN¥0.12 (vs CN¥0.12 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.12 (up from CN¥0.12 in 2Q 2023). Revenue: CN¥747.8m (down 25% from 2Q 2023). Net income: CN¥62.6m (up 14% from 2Q 2023). Profit margin: 8.4% (up from 5.5% in 2Q 2023). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 17
Dividend of CN¥0.044 announced Shareholders will receive a dividend of CN¥0.044. Ex-date: 19th July 2024 Payment date: 19th July 2024 Dividend yield will be 0.7%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (27% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has decreased over the past 66 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 325% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 28
Asia Cuanon Technology (Shanghai) Co.,Ltd. to Report First Half, 2024 Results on Aug 31, 2024 Asia Cuanon Technology (Shanghai) Co.,Ltd. announced that they will report first half, 2024 results on Aug 31, 2024 Board Change • Jun 21
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. 7 experienced directors. 3 highly experienced directors. Independent Director Yingli Pan was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Buy Or Sell Opportunity • May 15
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 7.0% to CN¥5.83. The fair value is estimated to be CN¥4.73, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Meanwhile, the company became loss making. Price Target Changed • May 03
Price target decreased by 14% to CN¥10.16 Down from CN¥11.79, the current price target is an average from 3 analysts. New target price is 75% above last closing price of CN¥5.82. Stock is down 39% over the past year. The company is forecast to post earnings per share of CN¥0.71 for next year compared to CN¥0.14 last year. New Risk • May 01
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 15% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • May 01
Asia Cuanon Technology (Shanghai) Co.,Ltd., Annual General Meeting, May 21, 2024 Asia Cuanon Technology (Shanghai) Co.,Ltd., Annual General Meeting, May 21, 2024, at 14:00 China Standard Time. Location: 1F, No. 28, Xintao Road, Qingpu Industrial Park, Shanghai China Reported Earnings • Apr 30
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.14 (down from CN¥0.25 in FY 2022). Revenue: CN¥3.11b (flat on FY 2022). Net income: CN¥60.2m (down 43% from FY 2022). Profit margin: 1.9% (down from 3.4% in FY 2022). Revenue missed analyst estimates by 10%. Earnings per share (EPS) also missed analyst estimates by 56%. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has fallen by 44% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥5.34, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Chemicals industry in China. Total loss to shareholders of 80% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥3.38 per share. Announcement • Mar 29
Asia Cuanon Technology (Shanghai) Co.,Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Asia Cuanon Technology (Shanghai) Co.,Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥6.15, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Chemicals industry in China. Total loss to shareholders of 78% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥3.51 per share. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥6.40, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Chemicals industry in China. Total loss to shareholders of 75% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥4.81 per share. Announcement • Feb 08
Asia Cuanon Technology (Shanghai) Co.,Ltd. (SHSE:603378) announces an Equity Buyback for CNY 100 million worth of its shares. Asia Cuanon Technology (Shanghai) Co.,Ltd. (SHSE:603378) announces a share repurchase program. Under the program, the company will repurchase its shares, for not more than CNY 100 million. The shares will be purchased at a price not more than CNY 8 per share. The repurchase program will be funded from company's own funds. The repurchased shares will be used for implementing the company’s equity incentive plan. The repurchase program will be valid for a period of 3 months. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥6.34, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Chemicals industry in China. Total loss to shareholders of 74% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥4.49 per share. Announcement • Dec 30
Asia Cuanon Technology (Shanghai) Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 30, 2024 Asia Cuanon Technology (Shanghai) Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 30, 2024 Major Estimate Revision • Nov 06
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥3.70b to CN¥3.27b. EPS estimate fell from CN¥0.537 to CN¥0.313 per share. Net income forecast to grow 94% next year vs 73% growth forecast for Chemicals industry in China. Consensus price target down from CN¥11.79 to CN¥11.30. Share price was steady at CN¥8.80 over the past week. Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.10 (vs CN¥0.075 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.10 (up from CN¥0.075 in 3Q 2022). Revenue: CN¥901.7m (down 1.7% from 3Q 2022). Net income: CN¥41.8m (up 11% from 3Q 2022). Profit margin: 4.6% (up from 4.1% in 3Q 2022). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 35% per year whereas the company’s share price has fallen by 31% per year. New Risk • Aug 30
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.8x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.6% average weekly change). Large one-off items impacting financial results. Reported Earnings • Aug 25
Second quarter 2023 earnings released: EPS: CN¥0.12 (vs CN¥0.18 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.12 (down from CN¥0.18 in 2Q 2022). Revenue: CN¥995.1m (up 7.6% from 2Q 2022). Net income: CN¥55.2m (down 22% from 2Q 2022). Profit margin: 5.5% (down from 7.6% in 2Q 2022). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 36% per year, which means it has not declined as severely as earnings. New Risk • Jul 29
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 6.4% 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. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.1x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.4% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Jul 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥10.25, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Chemicals industry in China. Total loss to shareholders of 67% over the past three years. Price Target Changed • May 05
Price target decreased by 9.8% to CN¥12.96 Down from CN¥14.37, the current price target is an average from 4 analysts. New target price is 36% above last closing price of CN¥9.55. Stock is up 11% over the past year. The company is forecast to post earnings per share of CN¥1.06 for next year compared to CN¥0.25 last year. Reported Earnings • Apr 29
First quarter 2023 earnings released: CN¥0.04 loss per share (vs CN¥0.09 loss in 1Q 2022) First quarter 2023 results: CN¥0.04 loss per share (improved from CN¥0.09 loss in 1Q 2022). Revenue: CN¥491.5m (flat on 1Q 2022). Net loss: CN¥16.0m (loss narrowed 58% from 1Q 2022). Revenue is forecast to grow 27% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
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. 10 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Price Target Changed • Nov 06
Price target decreased to CN¥13.03 Down from CN¥14.37, the current price target is an average from 5 analysts. New target price is 51% above last closing price of CN¥8.61. Stock is down 47% over the past year. The company is forecast to post earnings per share of CN¥0.45 next year compared to a net loss per share of CN¥1.27 last year. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.075 (vs CN¥0.17 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.075 (down from CN¥0.17 in 3Q 2021). Revenue: CN¥917.6m (down 33% from 3Q 2021). Net income: CN¥37.6m (down 47% from 3Q 2021). Profit margin: 4.1% (down from 5.2% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Chemicals industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 20
Second quarter 2022 earnings released: EPS: CN¥0.18 (vs CN¥0.13 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.18 (up from CN¥0.13 in 2Q 2021). Revenue: CN¥925.2m (down 46% from 2Q 2021). Net income: CN¥70.5m (up 8.0% from 2Q 2021). Profit margin: 7.6% (up from 3.8% in 2Q 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 53%, compared to a 41% growth forecast for the Chemicals industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Price Target Changed • May 05
Price target decreased to CN¥23.65 Down from CN¥28.47, the current price target is an average from 7 analysts. New target price is 84% above last closing price of CN¥12.84. Stock is down 72% over the past year. The company is forecast to post earnings per share of CN¥1.02 next year compared to a net loss per share of CN¥1.84 last year. Reported Earnings • May 02
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: CN¥0.13 loss per share (down from CN¥0.021 loss in 1Q 2021). Revenue: CN¥488.0m (down 19% from 1Q 2021). Net loss: CN¥38.0m (loss widened CN¥32.6m from 1Q 2021). Revenue missed analyst estimates by 11%. Earnings per share (EPS) were also behind analyst expectations. Over the next year, revenue is forecast to grow 71%, compared to a 42% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 9% per year, which means it is well ahead of 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. 9 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥14.45, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 17x in the Chemicals industry in China. Total returns to shareholders of 20% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥10.36 per share. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥19.52, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 19x in the Chemicals industry in China. Total returns to shareholders of 111% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥11.13 per share. Announcement • Jan 05
Asia Cuanon Technology (Shanghai) Co.,Ltd. has withdrawn its IPO in the amount of CNY 634.06 million. Asia Cuanon Technology (Shanghai) Co.,Ltd. has withdrawn its IPO in the amount of CNY 634.06 million.
Security Name: A Shares
Security Type: Common Stock
Securities Offered: 49,000,000
Price\Range: CNY 12.94 Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥28.63, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 20x in the Chemicals industry in China. Total returns to shareholders of 188% over the past three years. Valuation Update With 7 Day Price Move • Nov 16
Investor sentiment improved over the past week After last week's 22% share price gain to CN¥28.49, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 19x in the Chemicals industry in China. Total returns to shareholders of 254% over the past three years. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.24 (vs CN¥0.45 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¥1.37b (up 26% from 3Q 2020). Net income: CN¥71.2m (down 43% from 3Q 2020). Profit margin: 5.2% (down from 12% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 22
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥26.81, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 20x in the Chemicals industry in China. Total returns to shareholders of 281% over the past three years. Price Target Changed • Aug 21
Price target decreased to CN¥54.98 Down from CN¥59.43, the current price target is an average from 8 analysts. New target price is 67% above last closing price of CN¥32.96. Stock is down 39% over the past year. Reported Earnings • Aug 10
Second quarter 2021 earnings released: EPS CN¥0.20 (vs CN¥0.59 in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥1.70b (up 63% from 2Q 2020). Net income: CN¥65.3m (down 60% from 2Q 2020). Profit margin: 3.8% (down from 16% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • May 05
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate increased from CN¥2.06 to CN¥2.28. Revenue forecast unchanged at CN¥5.22b. Net income forecast to grow 41% next year vs 39% growth forecast for Chemicals industry in China. Consensus price target up from CN¥76.08 to CN¥79.08. Share price rose 5.1% to CN¥71.27 over the past week. Reported Earnings • May 01
First quarter 2021 earnings released: CN¥0.03 loss per share (vs CN¥0.28 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: CN¥600.7m (up 164% from 1Q 2020). Net loss: CN¥5.44m (loss narrowed 90% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 57% per year whereas the company’s share price has increased by 61% per year. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥64.14, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 23x in the Chemicals industry in China. Total returns to shareholders of 270% over the past three years. Is New 90 Day High Low • Feb 22
New 90-day high: CN¥58.99 The company is up 16% from its price of CN¥50.81 on 24 November 2020. The Chinese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥11.12 per share. Is New 90 Day High Low • Feb 03
New 90-day high: CN¥56.16 The company is up 3.0% from its price of CN¥54.76 on 05 November 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥11.10 per share. Reported Earnings • Jan 28
Full year 2020 earnings released: EPS CN¥1.67 (vs CN¥0.59 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥3.52b (up 45% from FY 2019). Net income: CN¥322.8m (up 183% from FY 2019). Profit margin: 9.2% (up from 4.7% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Jan 28
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Over the next year, revenue is forecast to grow 30%, compared to a 51% growth forecast for the Chemicals industry in China. 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¥46.80, the stock is trading at a trailing P/E ratio of 33.1x, up from the previous P/E ratio of 28.4x. This compares to an average P/E of 37x in the Chemicals industry in China. Total returns to shareholders over the past three years are 103%. Announcement • Jan 19
Asia Cuanon Technology (Shanghai) Co., Ltd. to Report Fiscal Year 2020 Results on Apr 29, 2021 Asia Cuanon Technology (Shanghai) Co., Ltd. announced that they will report fiscal year 2020 results on Apr 29, 2021 Is New 90 Day High Low • Jan 06
New 90-day low: CN¥40.73 The company is down 40% from its price of CN¥67.80 on 30 September 2020. The Chinese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥11.19 per share. Is New 90 Day High Low • Dec 09
New 90-day low: CN¥46.70 The company is down 32% from its price of CN¥68.50 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 Chemicals industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥7.77 per share. Is New 90 Day High Low • Nov 16
New 90-day low: CN¥52.00 The company is down 29% from its price of CN¥72.90 on 18 August 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥8.11 per share. Reported Earnings • Oct 28
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥271.1m, up 212% from the prior year. Total revenue was CN¥3.04b over the last 12 months, up 34% from the prior year. Valuation Update With 7 Day Price Move • Oct 19
Market pulls back on stock over the past week After last week's 15% share price decline to CN¥61.11, the stock is trading at a trailing P/E ratio of 61.5x, down from the previous P/E ratio of 72.4x. This compares to an average P/E of 40x in the Chemicals industry in China. Total returns to shareholders over the past three years are 83%. Is New 90 Day High Low • Oct 19
New 90-day low: CN¥61.11 The company is down 9.0% from its price of CN¥66.85 on 21 July 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥7.86 per share. Announcement • Jul 17
Asia Cuanon Technology (Shanghai) Co., Ltd. announced a financing transaction Asia Cuanon Technology (Shanghai) Co., Ltd. (SHSE:603378) announced that it has entered into a subscription agreement on July 13, 2020. The company will issue A shares in the transaction. The transaction was approved by the board of directors of the company 2nd session of 4th directorate meeting. Announcement • Jul 09
Asia Cuanon Technology (Shanghai) Co., Ltd. to Report First Half, 2020 Results on Aug 26, 2020 Asia Cuanon Technology (Shanghai) Co., Ltd. announced that they will report first half, 2020 results on Aug 26, 2020