New Risk • May 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 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks 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 (8.6% average weekly change). Declared Dividend • May 27
Dividend of CN¥0.90 announced Shareholders will receive a dividend of CN¥0.90. Ex-date: 28th May 2026 Payment date: 28th May 2026 Dividend yield will be 1.7%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (66% cash payout ratio). The dividend has increased by an average of 15% per year over the past 5 years. However, payments have been volatile during that time. Earnings per share has grown by 7.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥55.18, the stock trades at a trailing P/E ratio of 31.2x. Average trailing P/E is 51x in the Chemicals industry in China. Total returns to shareholders of 141% over the past three years. Announcement • Apr 24
Xi'an Manareco New Materials Co.,Ltd, Annual General Meeting, May 14, 2026 Xi'an Manareco New Materials Co.,Ltd, Annual General Meeting, May 14, 2026, at 14:30 China Standard Time. Location: 5F, Fu No. 71, Jinye 2nd Road, High-tech Zone, Xi'an, Shaanxi China Announcement • Mar 30
Xi'an Manareco New Materials Co.,Ltd to Report Q1, 2026 Results on Apr 24, 2026 Xi'an Manareco New Materials Co.,Ltd announced that they will report Q1, 2026 results on Apr 24, 2026 Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥37.60, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 23x in the Chemicals industry in China. Total returns to shareholders of 35% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥27.25 per share. Reported Earnings • Feb 17
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥1.79 (up from CN¥1.45 in FY 2024). Revenue: CN¥1.68b (up 15% from FY 2024). Net income: CN¥310.8m (up 24% from FY 2024). Profit margin: 19% (up from 17% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.9%. Earnings per share (EPS) also missed analyst estimates by 4.8%. Revenue is forecast to grow 16% 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 increased by 27% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Announcement • Dec 26
Xi'an Manareco New Materials Co.,Ltd to Report Fiscal Year 2025 Results on Apr 24, 2026 Xi'an Manareco New Materials Co.,Ltd announced that they will report fiscal year 2025 results on Apr 24, 2026 Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: CN¥0.67 (vs CN¥0.51 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.67 (up from CN¥0.51 in 3Q 2024). Revenue: CN¥495.1m (up 24% from 3Q 2024). Net income: CN¥114.7m (up 28% from 3Q 2024). Profit margin: 23% (in line with 3Q 2024). Revenue is forecast to grow 17% 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 18% per year whereas the company’s share price has increased by 20% per year. Announcement • Sep 30
Xi'an Manareco New Materials Co.,Ltd to Report Q3, 2025 Results on Oct 31, 2025 Xi'an Manareco New Materials Co.,Ltd announced that they will report Q3, 2025 results on Oct 31, 2025 Reported Earnings • Aug 22
Second quarter 2025 earnings released: EPS: CN¥0.71 (vs CN¥0.36 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.71 (up from CN¥0.36 in 2Q 2024). Revenue: CN¥462.3m (up 27% from 2Q 2024). Net income: CN¥120.4m (up 98% from 2Q 2024). Profit margin: 26% (up from 17% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 7% per year. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥38.29, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 22x in the Chemicals industry in China. Total returns to shareholders of 14% over the past three years. Announcement • Jul 03
Xi'an Manareco New Materials Co.,Ltd to Report First Half, 2025 Results on Aug 22, 2025 Xi'an Manareco New Materials Co.,Ltd announced that they will report first half, 2025 results on Aug 22, 2025 Reported Earnings • Apr 23
First quarter 2025 earnings released: EPS: CN¥0.26 (vs CN¥0.19 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.26 (up from CN¥0.19 in 1Q 2024). Revenue: CN¥344.0m (up 4.8% from 1Q 2024). Net income: CN¥45.6m (up 33% from 1Q 2024). Profit margin: 13% (up from 11% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Apr 22
Consensus EPS estimates increase by 10%, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from CN¥1.94b to CN¥1.85b. EPS estimate rose from CN¥1.54 to CN¥1.70. Net income forecast to grow 29% next year vs 48% growth forecast for Chemicals industry in China. Consensus price target of CN¥41.15 unchanged from last update. Share price fell 7.3% to CN¥35.03 over the past week. Announcement • Apr 20
Xi'an Manareco New Materials Co.,Ltd, Annual General Meeting, May 12, 2025 Xi'an Manareco New Materials Co.,Ltd, Annual General Meeting, May 12, 2025, at 14:30 China Standard Time. Location: Fu No. 71, Jinye 2nd Road, High-tech Zone, Xi'an, Shaanxi China Announcement • Mar 28
Xi'an Manareco New Materials Co.,Ltd to Report Q1, 2025 Results on Apr 21, 2025 Xi'an Manareco New Materials Co.,Ltd announced that they will report Q1, 2025 results on Apr 21, 2025 Reported Earnings • Mar 03
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: CN¥1.44 (up from CN¥0.75 in FY 2023). Revenue: CN¥1.46b (up 21% from FY 2023). Net income: CN¥250.3m (up 87% from FY 2023). Profit margin: 17% (up from 11% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.2%. Earnings per share (EPS) exceeded analyst estimates by 20%. Revenue is forecast to grow 24% 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 13% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Dec 27
Xi'an Manareco New Materials Co.,Ltd to Report Fiscal Year 2024 Results on Apr 21, 2025 Xi'an Manareco New Materials Co.,Ltd announced that they will report fiscal year 2024 results on Apr 21, 2025 Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.51 (vs CN¥0.23 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.51 (up from CN¥0.23 in 3Q 2023). Revenue: CN¥400.0m (up 27% from 3Q 2023). Net income: CN¥90.0m (up 126% from 3Q 2023). Profit margin: 23% (up from 13% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 15% 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 only fallen by 3% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥28.07, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 17x in the Chemicals industry in China. Total loss to shareholders of 11% over the past three years. Announcement • Sep 30
Xi'an Manareco New Materials Co.,Ltd to Report Q3, 2024 Results on Oct 29, 2024 Xi'an Manareco New Materials Co.,Ltd announced that they will report Q3, 2024 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥21.70, 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 36% over the past three years. Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: CN¥0.36 (vs CN¥0.25 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.36 (up from CN¥0.25 in 2Q 2023). Revenue: CN¥365.3m (up 6.8% from 2Q 2023). Net income: CN¥61.0m (up 38% from 2Q 2023). Profit margin: 17% (up from 13% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 15% per year. Announcement • Jun 29
Xi'an Manareco New Materials Co.,Ltd to Report First Half, 2024 Results on Aug 16, 2024 Xi'an Manareco New Materials Co.,Ltd announced that they will report first half, 2024 results on Aug 16, 2024 Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥26.69, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 16x in the Chemicals industry in China. Total loss to shareholders of 37% over the past three years. Announcement • Apr 30
Xi'an Manareco New Materials Co.,Ltd, Annual General Meeting, May 20, 2024 Xi'an Manareco New Materials Co.,Ltd, Annual General Meeting, May 20, 2024, at 14:30 China Standard Time. Location: Fu No. 71, Jinye 2nd Road, High-tech Zone, Xi'an, Shaanxi China Reported Earnings • Apr 29
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.98 (down from CN¥1.80 in FY 2022). Revenue: CN¥1.21b (down 18% from FY 2022). Net income: CN¥134.2m (down 46% from FY 2022). Profit margin: 11% (down from 17% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 30% 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 12% 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. Announcement • Mar 30
Xi'an Manareco New Materials Co.,Ltd to Report Q1, 2024 Results on Apr 29, 2024 Xi'an Manareco New Materials Co.,Ltd announced that they will report Q1, 2024 results on Apr 29, 2024 Reported Earnings • Feb 23
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.96 (down from CN¥1.80 in FY 2022). Revenue: CN¥1.21b (down 18% from FY 2022). Net income: CN¥132.5m (down 46% from FY 2022). Profit margin: 11% (down from 17% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 31% 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 12% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.30 (vs CN¥0.35 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.30 (down from CN¥0.35 in 3Q 2022). Revenue: CN¥316.0m (up 8.3% from 3Q 2022). Net income: CN¥39.8m (down 17% from 3Q 2022). Profit margin: 13% (down from 17% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 27% 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 5% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Announcement • Sep 06
Xi'an Manareco New Materials Co.,Ltd (SHSE:688550) announces an Equity Buyback for CNY 80 million worth of its shares. Xi'an Manareco New Materials Co.,Ltd (SHSE:688550) announces a share repurchase program. Under the program, the company will repurchase up to CNY 80 million worth of its Class A shares. The shares will be repurchased at a price of not more than CNY 51 per share. The repurchased shares will be used for employee stock ownership plans or equity incentives. The program is valid for 12 months. Reported Earnings • Aug 25
Second quarter 2023 earnings released: EPS: CN¥0.32 (vs CN¥0.60 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.32 (down from CN¥0.60 in 2Q 2022). Revenue: CN¥342.1m (down 28% from 2Q 2022). Net income: CN¥44.2m (down 46% from 2Q 2022). Profit margin: 13% (down from 17% in 2Q 2022). 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. New Risk • Jul 01
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: Major Risk High level of non-cash earnings (20% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.1% average weekly change). Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥39.60, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 16x in the Chemicals industry in China. Total loss to shareholders of 17% over the past year. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥46.45, the stock trades at a trailing P/E ratio of 18.4x. Average trailing P/E is 27x in the Chemicals industry in China. Total loss to shareholders of 31% over the past year. Reported Earnings • Feb 28
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥2.53 (up from CN¥2.44 in FY 2021). Revenue: CN¥1.48b (down 3.0% from FY 2021). Net income: CN¥247.2m (up 3.1% from FY 2021). Profit margin: 17% (up from 16% in FY 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 30%. Earnings per share (EPS) also missed analyst estimates by 25%. Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Chemicals industry in China. Board Change • Nov 16
No independent directors 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. No highly experienced directors. No independent directors (3 non-independent 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: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.49 (vs CN¥0.69 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.49 (down from CN¥0.69 in 3Q 2021). Revenue: CN¥291.7m (down 35% from 3Q 2021). Net income: CN¥48.0m (down 28% from 3Q 2021). Profit margin: 17% (up from 15% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Chemicals industry in China. Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥46.32, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the Chemicals industry in China. Total loss to shareholders of 24% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥21.13 per share. Reported Earnings • Aug 17
Second quarter 2022 earnings released: EPS: CN¥0.84 (vs CN¥0.51 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.84 (up from CN¥0.51 in 2Q 2021). Revenue: CN¥472.3m (up 25% from 2Q 2021). Net income: CN¥81.4m (up 61% from 2Q 2021). Profit margin: 17% (up from 13% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 25%, compared to a 42% growth forecast for the Chemicals industry in China. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorated over the past week After last week's 25% share price decline to CN¥73.81, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 18x in the Chemicals industry in China. Total loss to shareholders of 15% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥55.61 per share. Reported Earnings • Apr 18
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: CN¥3.42 (up from CN¥3.00 in FY 2020). Revenue: CN¥1.53b (up 45% from FY 2020). Net income: CN¥239.8m (up 37% from FY 2020). Profit margin: 16% (down from 17% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 20%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to stay flat compared to a 48% growth forecast for the industry in China. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥103, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 17x in the Chemicals industry in China. Total returns to shareholders of 23% over the past year. Reported Earnings • Feb 24
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: CN¥3.40 (up from CN¥3.00 in FY 2020). Revenue: CN¥1.54b (up 47% from FY 2020). Net income: CN¥238.4m (up 36% from FY 2020). Profit margin: 16% (down from 17% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 20%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 2.7%, compared to a 47% growth forecast for the industry in China. Reported Earnings • Oct 25
Third quarter 2021 earnings released: EPS CN¥0.96 (vs CN¥0.70 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: CN¥446.0m (up 76% from 3Q 2020). Net income: CN¥67.1m (up 63% from 3Q 2020). Profit margin: 15% (down from 16% in 3Q 2020). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥105, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 22x in the Chemicals industry in China. Total returns to shareholders of 13% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥75.88 per share. Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥86.45, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 19x in the Chemicals industry in China. Simply Wall St's valuation model estimates the intrinsic value at CN¥76.03 per share. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS CN¥0.72 (vs CN¥0.96 in 2Q 2020) The company reported a mediocre second quarter result with weaker profit margins, although earnings were flat and revenues improved. Second quarter 2021 results: Revenue: CN¥379.3m (up 45% from 2Q 2020). Net income: CN¥50.7m (flat on 2Q 2020). Profit margin: 13% (down from 20% in 2Q 2020). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥95.30, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 19x in the Chemicals industry in China. Reported Earnings • Apr 13
Full year 2020 earnings released: EPS CN¥3.00 (vs CN¥2.82 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥1.05b (up 6.0% from FY 2019). Net income: CN¥175.4m (up 18% from FY 2019). Profit margin: 17% (up from 15% in FY 2019). The increase in margin was driven by higher revenue. Is New 90 Day High Low • Jan 29
New 90-day low: CN¥80.05 The company is down 19% from its price of CN¥99.00 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 Electronic industry, which is up 4.0% over the same period. Is New 90 Day High Low • Dec 28
New 90-day low: CN¥82.68 The company is down 22% from its price of CN¥106 on 29 September 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 4.0% over the same period. Is New 90 Day High Low • Dec 10
New 90-day low: CN¥97.66 The company is down 1.0% from its price of CN¥98.70 on 11 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 Electronic industry, which is up 6.0% over the same period.