Buy Or Sell Opportunity • Jun 11
Now 27% overvalued Over the last 90 days, the stock has fallen 19% to CN¥42.75. The fair value is estimated to be CN¥33.66, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 8.6%. Revenue is forecast to grow by 61% in 2 years. Earnings are forecast to grow by 163% in the next 2 years. Valuation Update With 7 Day Price Move • May 27
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to CN¥46.38, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 17x in the Pharmaceuticals industry in China. Total returns to shareholders of 62% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥33.53 per share. Announcement • Mar 31
Inner Mongolia Furui Medical Science Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Inner Mongolia Furui Medical Science Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 Reported Earnings • Mar 25
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: CN¥0.58 (up from CN¥0.43 in FY 2024). Revenue: CN¥1.60b (up 18% from FY 2024). Net income: CN¥154.1m (up 36% from FY 2024). Profit margin: 9.7% (up from 8.4% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 18%. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 24
Inner Mongolia Furui Medical Science Co., Ltd., Annual General Meeting, May 13, 2026 Inner Mongolia Furui Medical Science Co., Ltd., Annual General Meeting, May 13, 2026, at 14:00 China Standard Time. Location: 35F, No. 8, Guanghua Dongli, Chaoyang District, Beijing China Announcement • Dec 31
Inner Mongolia Furui Medical Science Co., Ltd. to Report Fiscal Year 2025 Results on Mar 25, 2026 Inner Mongolia Furui Medical Science Co., Ltd. announced that they will report fiscal year 2025 results on Mar 25, 2026 Reported Earnings • Oct 29
Third quarter 2025 earnings released: EPS: CN¥0.23 (vs CN¥0.098 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.23 (up from CN¥0.098 in 3Q 2024). Revenue: CN¥387.6m (up 15% from 3Q 2024). Net income: CN¥60.0m (up 125% from 3Q 2024). Profit margin: 16% (up from 7.9% in 3Q 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 Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 30
Inner Mongolia Furui Medical Science Co., Ltd. to Report Q3, 2025 Results on Oct 23, 2025 Inner Mongolia Furui Medical Science Co., Ltd. announced that they will report Q3, 2025 results on Oct 23, 2025 Reported Earnings • Aug 22
Second quarter 2025 earnings released: EPS: CN¥0.089 (vs CN¥0.12 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.089 (down from CN¥0.12 in 2Q 2024). Revenue: CN¥383.0m (up 20% from 2Q 2024). Net income: CN¥23.3m (down 29% from 2Q 2024). Profit margin: 6.1% (down from 10% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Aug 18
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 8.7% 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 Risk Share price has been highly volatile over the past 3 months (8.7% average weekly change). Minor Risk Profit margins are more than 30% lower than last year (7.3% net profit margin). New Risk • Jul 16
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). Profit margins are more than 30% lower than last year (7.3% net profit margin). Buy Or Sell Opportunity • Jul 16
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 33% to CN¥40.03. The fair value is estimated to be CN¥32.24, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 9.2%. Revenue is forecast to grow by 69% in 2 years. Earnings are forecast to grow by 218% in the next 2 years. Announcement • Jul 02
Inner Mongolia Furui Medical Science Co., Ltd. to Report First Half, 2025 Results on Aug 27, 2025 Inner Mongolia Furui Medical Science Co., Ltd. announced that they will report first half, 2025 results on Aug 27, 2025 Board Change • Jun 06
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 2 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Peng Guo was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Jun 06
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 7.3% Last year net profit margin: 11% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Announcement • Apr 23
Inner Mongolia Furui Medical Science Co., Ltd. (SZSE:300049) signed equity acquisition framework agreement to acquire 96.20% stake in Chengdu Furuihui Hospital Management Co., Ltd. from Shao Yu, He Liwei, Hangzhou Ruiying Health Industry Equity Investment Fund Partnership Enterprise (L.P.) managed by Ningbo Bonded Area Yingshi Investment Management Partnership Enterprise (L.P.) and Sanya Haoyue Business Service Co., Ltd. Inner Mongolia Furui Medical Science Co., Ltd. (SZSE:300049) signed equity acquisition framework agreement to acquire 96.20% stake in Chengdu Furuihui Hospital Management Co., Ltd. from Shao Yu, He Liwei, Hangzhou Ruiying Health Industry Equity Investment Fund Partnership Enterprise (L.P.) managed by Ningbo Bonded Area Yingshi Investment Management Partnership Enterprise (L.P.) and Sanya Haoyue Business Service Co., Ltd. on April 22, 2025.
The transaction is subject to approval by the board of Inner Mongolia Furui Medical Science. The deal has been approved by the board of Inner Mongolia Furui Medical Science Co., Ltd. Reported Earnings • Apr 22
First quarter 2025 earnings released: EPS: CN¥0.11 (vs CN¥0.16 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.11 (down from CN¥0.16 in 1Q 2024). Revenue: CN¥330.4m (up 2.4% from 1Q 2024). Net income: CN¥28.6m (down 33% from 1Q 2024). Profit margin: 8.7% (down from 13% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 37% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 22
Inner Mongolia Furui Medical Science Co., Ltd., Annual General Meeting, May 21, 2025 Inner Mongolia Furui Medical Science Co., Ltd., Annual General Meeting, May 21, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Beijing China New Risk • Apr 07
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. This is currently the only risk that has been identified for the company. Announcement • Mar 31
Inner Mongolia Furui Medical Science Co., Ltd. to Report Q1, 2025 Results on Apr 22, 2025 Inner Mongolia Furui Medical Science Co., Ltd. announced that they will report Q1, 2025 results on Apr 22, 2025 Announcement • Dec 31
Inner Mongolia Furui Medical Science Co., Ltd. to Report Fiscal Year 2024 Results on Apr 22, 2025 Inner Mongolia Furui Medical Science Co., Ltd. announced that they will report fiscal year 2024 results on Apr 22, 2025 Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to CN¥38.61, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 18x in the Pharmaceuticals industry in China. Total returns to shareholders of 244% over the past three years. Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: CN¥0.098 (vs CN¥0.11 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.098 (down from CN¥0.11 in 3Q 2023). Revenue: CN¥337.2m (up 19% from 3Q 2023). Net income: CN¥26.6m (down 9.2% from 3Q 2023). Profit margin: 7.9% (down from 10% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 67% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 30
Inner Mongolia Furui Medical Science Co., Ltd. to Report Q3, 2024 Results on Oct 24, 2024 Inner Mongolia Furui Medical Science Co., Ltd. announced that they will report Q3, 2024 results on Oct 24, 2024 Reported Earnings • Sep 03
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¥319.8m (up 13% from 2Q 2023). Net income: CN¥32.6m (up 5.9% from 2Q 2023). Profit margin: 10% (in line with 2Q 2023). Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jul 01
Now 21% undervalued Over the last 90 days, the stock has risen 3.9% to CN¥50.34. The fair value is estimated to be CN¥63.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 87% in 2 years. Earnings are forecast to grow by 157% in the next 2 years. Announcement • Jun 29
Inner Mongolia Furui Medical Science Co., Ltd. to Report First Half, 2024 Results on Aug 30, 2024 Inner Mongolia Furui Medical Science Co., Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Announcement • Apr 30
Inner Mongolia Furui Medical Science Co., Ltd., Annual General Meeting, May 21, 2024 Inner Mongolia Furui Medical Science Co., Ltd., Annual General Meeting, May 21, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Beijing China Reported Earnings • Apr 29
First quarter 2024 earnings released: EPS: CN¥0.16 (vs CN¥0.049 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.16 (up from CN¥0.049 in 1Q 2023). Revenue: CN¥322.8m (up 33% from 1Q 2023). Net income: CN¥42.7m (up 229% from 1Q 2023). Profit margin: 13% (up from 5.4% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 32% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 80% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 30
Inner Mongolia Furui Medical Science Co., Ltd. to Report Q1, 2024 Results on Apr 29, 2024 Inner Mongolia Furui Medical Science Co., Ltd. announced that they will report Q1, 2024 results on Apr 29, 2024 Announcement • Dec 29
Inner Mongolia Furui Medical Science Co., Ltd. to Report Fiscal Year 2023 Results on Apr 29, 2024 Inner Mongolia Furui Medical Science Co., Ltd. announced that they will report fiscal year 2023 results on Apr 29, 2024 Price Target Changed • Nov 02
Price target increased by 41% to CN¥43.70 Up from CN¥30.94, the current price target is provided by 1 analyst. New target price is 15% above last closing price of CN¥38.07. Stock is up 62% over the past year. The company is forecast to post earnings per share of CN¥0.48 for next year compared to CN¥0.37 last year. Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: CN¥0.11 (vs CN¥0.11 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.11 (up from CN¥0.11 in 3Q 2022). Revenue: CN¥282.5m (up 4.6% from 3Q 2022). Net income: CN¥29.3m (up 4.0% from 3Q 2022). Profit margin: 10% (in line with 3Q 2022). Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: CN¥0.12 (vs CN¥0.091 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.12 (up from CN¥0.091 in 2Q 2022). Revenue: CN¥282.4m (up 18% from 2Q 2022). Net income: CN¥30.8m (up 29% from 2Q 2022). Profit margin: 11% (in line with 2Q 2022). Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Aug 21
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 30%. The fair value is estimated to be CN¥26.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.1% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 74% in 2 years. Earnings is forecast to grow by 169% in the next 2 years. New Risk • Aug 12
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 8.2% 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 Risk Share price has been highly volatile over the past 3 months (8.2% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • Jun 29
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 9.5% 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 Risk Share price has been highly volatile over the past 3 months (9.5% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to CN¥20.79, the stock trades at a trailing P/E ratio of 53.5x. Average trailing P/E is 32x in the Pharmaceuticals industry in China. Total returns to shareholders of 110% over the past three years. Announcement • Jun 07
Inner Mongolia Furui Medical Science Co., Ltd. Announces Final Profit Distribution Plan to Be Implemented on A Shares for the Year 2022, Payable on 13 June 2023 Inner Mongolia Furui Medical Science Co., Ltd. announced final profit distribution plan to be implemented on A shares as cash dividend per ten shares (tax included) of CNY 2.00000000 for the year 2022, payable on 13 June 2023. Record date is 12 June 2023. Ex-date is 13 June 2023. Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: CN¥0.049 (vs CN¥0.033 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.049 (up from CN¥0.033 in 1Q 2022). Revenue: CN¥242.1m (up 16% from 1Q 2022). Net income: CN¥13.0m (up 50% from 1Q 2022). Profit margin: 5.4% (up from 4.1% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥28.70, the stock trades at a trailing P/E ratio of 77x. Average trailing P/E is 34x in the Pharmaceuticals industry in China. Total returns to shareholders of 262% over the past three years. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥23.16, the stock trades at a trailing P/E ratio of 62.1x. Average trailing P/E is 36x in the Pharmaceuticals industry in China. Total returns to shareholders of 210% over the past three years. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Xinhong Wang was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥23.51, the stock trades at a trailing P/E ratio of 63.1x. Average trailing P/E is 35x in the Pharmaceuticals industry in China. Total returns to shareholders of 216% over the past three years. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.11 (vs CN¥0.061 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.11 (up from CN¥0.061 in 3Q 2021). Revenue: CN¥270.0m (up 27% from 3Q 2021). Net income: CN¥28.2m (up 77% from 3Q 2021). Profit margin: 11% (up from 7.5% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 40% per year whereas the company’s share price has increased by 37% per year. Valuation Update With 7 Day Price Move • Oct 10
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥16.28, the stock trades at a trailing P/E ratio of 49.9x. Average trailing P/E is 30x in the Pharmaceuticals industry in China. Total returns to shareholders of 102% over the past three years. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥20.39, the stock trades at a trailing P/E ratio of 62.5x. Average trailing P/E is 31x in the Pharmaceuticals industry in China. Total returns to shareholders of 152% over the past three years. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: CN¥0.091 (vs CN¥0.12 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.091 (down from CN¥0.12 in 2Q 2021). Revenue: CN¥239.9m (up 14% from 2Q 2021). Net income: CN¥23.9m (down 19% from 2Q 2021). Profit margin: 10.0% (down from 14% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improved over the past week After last week's 23% share price gain to CN¥17.83, the stock trades at a trailing P/E ratio of 51.2x. Average trailing P/E is 30x in the Pharmaceuticals industry in China. Total returns to shareholders of 139% over the past three years. Valuation Update With 7 Day Price Move • Jul 13
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥14.04, the stock trades at a trailing P/E ratio of 40.3x. Average trailing P/E is 31x in the Pharmaceuticals industry in China. Total returns to shareholders of 67% over the past three years. Valuation Update With 7 Day Price Move • May 04
Investor sentiment improved over the past week After last week's 23% share price gain to CN¥19.00, the stock trades at a trailing P/E ratio of 53.2x. Average trailing P/E is 29x in the Pharmaceuticals industry in China. Total returns to shareholders of 114% over the past three years. Reported Earnings • Apr 28
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: CN¥0.033 (down from CN¥0.049 in 1Q 2021). Revenue: CN¥209.1m (up 18% from 1Q 2021). Net income: CN¥8.64m (down 31% from 1Q 2021). Profit margin: 4.1% (down from 7.1% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 9.6%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
High number of new directors There are 8 new directors who have joined the board in the last 3 years. Deputy GM & Non-Independent Director Xinhong Wang was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Buying Opportunity • Apr 07
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 5.6%. The fair value is estimated to be CN¥17.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 55%. Buying Opportunity • Mar 22
Now 22% undervalued Over the last 90 days, the stock is up 5.0%. The fair value is estimated to be CN¥17.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 55% per annum over the last 3 years. Reported Earnings • Mar 01
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: CN¥0.39 (up from CN¥0.24 in FY 2020). Revenue: CN¥910.8m (up 13% from FY 2020). Net income: CN¥102.1m (up 65% from FY 2020). Profit margin: 11% (up from 7.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 9.6%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥11.79, the stock trades at a trailing P/E ratio of 33.7x. Average trailing P/E is 35x in the Pharmaceuticals industry in China. Total returns to shareholders of 27% over the past three years. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.061 (vs CN¥0.06 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¥212.9m (up 7.8% from 3Q 2020). Net income: CN¥15.9m (up 4.2% from 3Q 2020). Profit margin: 7.5% (down from 7.7% 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 39% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥12.40, the stock trades at a trailing P/E ratio of 35.8x. Average trailing P/E is 30x in the Pharmaceuticals industry in China. Total returns to shareholders of 48% over the past three years. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS CN¥0.12 (vs CN¥0.018 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥210.6m (up 34% from 2Q 2020). Net income: CN¥29.7m (up CN¥25.0m from 2Q 2020). Profit margin: 14% (up from 3.0% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥16.28, the stock trades at a trailing P/E ratio of 65.3x. Average trailing P/E is 29x in the Pharmaceuticals industry in China. Total returns to shareholders of 60% over the past three years. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improved over the past week After last week's 32% share price gain to CN¥14.72, the stock trades at a trailing P/E ratio of 59x. Average trailing P/E is 32x in the Pharmaceuticals industry in China. Total returns to shareholders of 21% over the past three years. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥9.99, the stock trades at a trailing P/E ratio of 40.1x. Average trailing P/E is 31x in the Pharmaceuticals industry in China. Total returns to shareholders of 22% over the past year. Reported Earnings • Apr 30
First quarter 2021 earnings released: EPS CN¥0.049 (vs CN¥0.041 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: CN¥176.8m (down 14% from 1Q 2020). Net income: CN¥12.6m (up 19% from 1Q 2020). Profit margin: 7.1% (up from 5.2% in 1Q 2020). The increase in margin was driven by lower expenses. Is New 90 Day High Low • Jan 11
New 90-day low: CN¥7.17 The company is down 34% from its price of CN¥10.79 on 13 October 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is down 1.0% over the same period. Is New 90 Day High Low • Dec 23
New 90-day low: CN¥8.73 The company is down 14% from its price of CN¥10.18 on 24 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 Pharmaceuticals industry, which is down 1.0% over the same period. Is New 90 Day High Low • Nov 24
New 90-day low: CN¥9.65 The company is down 10.0% from its price of CN¥10.73 on 26 August 2020. The Chinese market is flat over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Pharmaceuticals industry, which is also down 10.0% over the same period. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥49.9m, with earnings increasing by CN¥48.5m from the prior year. Total revenue was CN¥817.0m over the last 12 months, down 4.7% from the prior year. Is New 90 Day High Low • Sep 28
New 90-day low: CN¥9.69 The company is down 4.0% from its price of CN¥10.10 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 Pharmaceuticals industry, which is up 3.0% over the same period. Announcement • Aug 13
Inner Mongolia Furui Medical Science Co., Ltd. to Report First Half, 2020 Results on Aug 28, 2020 Inner Mongolia Furui Medical Science Co., Ltd. announced that they will report first half, 2020 results on Aug 28, 2020