Declared Dividend • May 30
Dividend of CN¥0.40 announced Shareholders will receive a dividend of CN¥0.40. Ex-date: 4th June 2026 Payment date: 4th June 2026 Dividend yield will be 2.0%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (78% cash payout ratio). The dividend has increased by an average of 11% per year over the past 2 years and payments have been stable during that time. EPS is expected to grow by 41% over the next year, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Apr 29
Now 21% overvalued Over the last 90 days, the stock has fallen 21% to CN¥40.05. The fair value is estimated to be CN¥33.17, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.3% over the last year, while earnings per share has been flat. Revenue is forecast to grow by 48% in a year. Earnings are forecast to grow by 59% in the next year. Major Estimate Revision • Apr 07
Consensus revenue estimates fall by 11% The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CN¥4.03b to CN¥3.58b. EPS estimate fell from CN¥2.56 to CN¥2.22 per share. Net income forecast to grow 36% next year vs 45% growth forecast for Electrical industry in China. Consensus price target of CN¥58.50 unchanged from last update. Share price fell 8.3% to CN¥37.06 over the past week. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥37.05, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 25x in the Electrical industry in China. Total loss to shareholders of 2.4% over the past year. Announcement • Mar 30
Suzhou West Deane New Power Electric Co.,Ltd. to Report Q1, 2026 Results on Apr 25, 2026 Suzhou West Deane New Power Electric Co.,Ltd. announced that they will report Q1, 2026 results on Apr 25, 2026 Reported Earnings • Mar 30
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥1.62 (up from CN¥1.44 in FY 2024). Revenue: CN¥2.78b (up 28% from FY 2024). Net income: CN¥260.8m (up 14% from FY 2024). Profit margin: 9.4% (down from 11% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 7.2%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 27% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Electrical industry in China. Announcement • Mar 28
Suzhou West Deane New Power Electric Co.,Ltd., Annual General Meeting, Apr 17, 2026 Suzhou West Deane New Power Electric Co.,Ltd., Annual General Meeting, Apr 17, 2026, at 14:30 China Standard Time. Location: No. 359, Jinfeng Road, Suzhou National Hi-tech District, Jiangsu China Announcement • Dec 26
Suzhou West Deane New Power Electric Co.,Ltd. to Report Fiscal Year 2025 Results on Mar 28, 2026 Suzhou West Deane New Power Electric Co.,Ltd. announced that they will report fiscal year 2025 results on Mar 28, 2026 Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥49.85, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 23x in the Electrical industry in China. Total returns to shareholders of 50% over the past year. New Risk • Nov 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 7.5% 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 (51% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.5% average weekly change). Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥58.69, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 24x in the Electrical industry in China. Total returns to shareholders of 73% over the past year. Reported Earnings • Oct 29
Third quarter 2025 earnings released: EPS: CN¥0.44 (vs CN¥0.36 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.44 (up from CN¥0.36 in 3Q 2024). Revenue: CN¥701.6m (up 22% from 3Q 2024). Net income: CN¥71.8m (up 28% from 3Q 2024). Profit margin: 10% (in line with 3Q 2024). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electrical industry in China. Upcoming Dividend • Oct 04
Upcoming dividend of CN¥0.40 per share Eligible shareholders must have bought the stock before 10 October 2025. Payment date: 10 October 2025. Payout ratio is a comfortable 69% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Chinese dividend payers (1.9%). Higher than average of industry peers (0.9%). Announcement • Sep 30
Suzhou West Deane New Power Electric Co.,Ltd. to Report Q3, 2025 Results on Oct 29, 2025 Suzhou West Deane New Power Electric Co.,Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 Reported Earnings • Aug 19
Second quarter 2025 earnings released: EPS: CN¥0.42 (vs CN¥0.26 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.42 (up from CN¥0.26 in 2Q 2024). Revenue: CN¥684.7m (up 53% from 2Q 2024). Net income: CN¥67.2m (up 60% from 2Q 2024). Profit margin: 9.8% (in line with 2Q 2024). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electrical industry in China. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥44.69, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 20x in the Electrical industry in China. Total returns to shareholders of 70% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥18.36 per share. Announcement • Jun 30
Suzhou West Deane New Power Electric Co.,Ltd. to Report First Half, 2025 Results on Aug 15, 2025 Suzhou West Deane New Power Electric Co.,Ltd. announced that they will report first half, 2025 results on Aug 15, 2025 Declared Dividend • May 31
Dividend increased to CN¥0.77 Dividend of CN¥0.77 is 18% higher than last year. Ex-date: 5th June 2025 Payment date: 5th June 2025 Dividend yield will be 2.1%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by earnings (50% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. EPS is expected to grow by 112% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 25
First quarter 2025 earnings released: EPS: CN¥0.44 (vs CN¥0.33 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.44 (up from CN¥0.33 in 1Q 2024). Revenue: CN¥707.4m (up 80% from 1Q 2024). Net income: CN¥71.8m (up 45% from 1Q 2024). Profit margin: 10% (down from 13% in 1Q 2024). 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 17% growth forecast for the Electrical industry in China. New Risk • Apr 11
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risk Dividend is not well covered by cash flows (302% cash payout ratio). Announcement • Apr 09
Suzhou West Deane New Power Electric Co.,Ltd. announced that it expects to receive CNY 119.999987 million in funding Suzhou West Deane New Power Electric Co.,Ltd. announced a private placement that it will issue 3,910,068 A shares at an issue price of CNY 30.69 per share for the gross proceeds of up to CNY 119,999,986.92 on April 7, 2025. The transaction will include participation from Suzhou Weston Home Automation Co., Ltd. The shares will have a lockup period of 18 months. The transaction has been approved by by the company’s 2nd directorate during its 5th meeting and still needs to be approved by the company’s shareholders’ meeting; by Shanghai Stock Exchange and China Securities Regulatory Commission. Announcement • Mar 29
Suzhou West Deane New Power Electric Co.,Ltd., Annual General Meeting, Apr 18, 2025 Suzhou West Deane New Power Electric Co.,Ltd., Annual General Meeting, Apr 18, 2025, at 14:30 China Standard Time. Location: No. 357, Jinfeng Road, Suzhou National Hi-tech District, Jiangsu China Announcement • Mar 28
Suzhou West Deane New Power Electric Co.,Ltd. to Report Q1, 2025 Results on Apr 25, 2025 Suzhou West Deane New Power Electric Co.,Ltd. announced that they will report Q1, 2025 results on Apr 25, 2025 Announcement • Dec 27
Suzhou West Deane New Power Electric Co.,Ltd. to Report Fiscal Year 2024 Results on Mar 29, 2025 Suzhou West Deane New Power Electric Co.,Ltd. announced that they will report fiscal year 2024 results on Mar 29, 2025 Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.36 (vs CN¥0.46 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.36 (down from CN¥0.46 in 3Q 2023). Revenue: CN¥575.8m (up 15% from 3Q 2023). Net income: CN¥56.2m (flat on 3Q 2023). Profit margin: 9.8% (down from 11% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 35% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Electrical industry in China. Announcement • Sep 30
Suzhou West Deane New Power Electric Co.,Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Suzhou West Deane New Power Electric Co.,Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥32.72, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 17x in the Electrical industry in China. Reported Earnings • Aug 29
Second quarter 2024 earnings released Second quarter 2024 results: EPS: CN¥0.26. Net income: CN¥42.1m (up CN¥42.1m from 2Q 2023). Announcement • Jul 13
Suzhou West Deane New Power Electric Co.,Ltd. (SHSE:603312) announces an Equity Buyback for CNY 110 million worth of its shares. Suzhou West Deane New Power Electric Co.,Ltd. (SHSE:603312) announces a share repurchase program. Under the program, the company will repurchase up to CNY 110 million worth of its shares. The shares will be repurchased at a price not more than CNY 40 per share. The repurchased shares will be used for equity incentive or as employee shareholding plan. The repurchases will be funded from portion of excess raised funds from company’s IPO. The authorization will be valid for a period of 12 months. Announcement • Jun 28
Suzhou West Deane New Power Electric Co.,Ltd. to Report First Half, 2024 Results on Aug 29, 2024 Suzhou West Deane New Power Electric Co.,Ltd. announced that they will report first half, 2024 results on Aug 29, 2024 Announcement • Apr 24
Suzhou West Deane New Power Electric Co.,Ltd., Annual General Meeting, May 17, 2024 Suzhou West Deane New Power Electric Co.,Ltd., Annual General Meeting, May 17, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Suzhou, Jiangsu China Announcement • Mar 29
Suzhou West Deane New Power Electric Co.,Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Suzhou West Deane New Power Electric Co.,Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024