Reported Earnings • Apr 29
First quarter 2026 earnings released: EPS: CN¥0.12 (vs CN¥0.14 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.12 (down from CN¥0.14 in 1Q 2025). Revenue: CN¥449.9m (up 34% from 1Q 2025). Net income: CN¥22.7m (down 11% from 1Q 2025). Profit margin: 5.0% (down from 7.6% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Leisure 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 6% per year. Announcement • Apr 28
Wenzhou Yuanfei pet toy products Co., Ltd., Annual General Meeting, May 22, 2026 Wenzhou Yuanfei pet toy products Co., Ltd., Annual General Meeting, May 22, 2026, at 15:00 China Standard Time. Location: The Company's Meeting Room, Wenzhou, Zhejiang China Announcement • Mar 31
Wenzhou Yuanfei pet toy products Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Wenzhou Yuanfei pet toy products Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 Announcement • Dec 31
Wenzhou Yuanfei pet toy products Co., Ltd. to Report Fiscal Year 2025 Results on Apr 28, 2026 Wenzhou Yuanfei pet toy products Co., Ltd. announced that they will report fiscal year 2025 results on Apr 28, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.30 (vs CN¥0.24 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.30 (up from CN¥0.24 in 3Q 2024). Revenue: CN¥489.4m (up 27% from 3Q 2024). Net income: CN¥56.1m (up 22% from 3Q 2024). Profit margin: 12% (in line with 3Q 2024). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Leisure industry in China. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 8% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 30
Wenzhou Yuanfei pet toy products Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Wenzhou Yuanfei pet toy products Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 New Risk • Sep 03
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% 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 (24% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Valuation Update With 7 Day Price Move • Aug 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥25.27, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 30x in the Leisure industry in China. Total loss to shareholders of 2.1% over the past three years. New Risk • Jul 09
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 Paying a dividend despite having no free cash flows. Announcement • Jul 02
Wenzhou Yuanfei pet toy products Co., Ltd. to Report First Half, 2025 Results on Aug 28, 2025 Wenzhou Yuanfei pet toy products Co., Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Declared Dividend • Jun 23
Dividend reduced to CN¥0.15 Dividend of CN¥0.15 is 25% lower than last year. Ex-date: 27th June 2025 Payment date: 27th June 2025 Dividend yield will be 0.8%, which is lower than the industry average of 2.0%. Sustainability & Growth Dividend is covered by earnings (18% 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 dividend has decreased over the past 26 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 48% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • Jun 21
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. 5 experienced directors. No highly experienced directors. 1 independent director (3 non-independent directors). Non-Independent Director Mingchao Zhuang was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • May 30
Wenzhou Yuanfei Pet Toy Products Co., Ltd. Approves Cash Dividend for the 2024 Wenzhou Yuanfei pet toy products Co., Ltd. held its Annual General Meeting of 2024 on 28 May 2025, during which the following proposal(s) was/were approved: Cash dividend per 10 shares (tax included) of CNY 1.50000000 for 2024. New Risk • May 21
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 8.5% 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: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.5% average weekly change). Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥18.84, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 22x in the Leisure industry in China. Total returns to shareholders of 38% over the past year. New Risk • May 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 29% 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 (29% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Apr 28
First quarter 2025 earnings released: EPS: CN¥0.14 (vs CN¥0.19 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.14 (down from CN¥0.19 in 1Q 2024). Revenue: CN¥334.8m (up 36% from 1Q 2024). Net income: CN¥25.4m (down 31% from 1Q 2024). Profit margin: 7.6% (down from 15% in 1Q 2024). The decrease in margin was driven by higher expenses. Announcement • Apr 26
Wenzhou Yuanfei pet toy products Co., Ltd., Annual General Meeting, May 28, 2025 Wenzhou Yuanfei pet toy products Co., Ltd., Annual General Meeting, May 28, 2025, at 15:00 China Standard Time. Location: No. 1, Chongle Road, Standard Park, Shuitou Town, Pingyang County, Wenzhou, Zhejiang China Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to CN¥12.48, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 17x in the Leisure industry in China. Total loss to shareholders of 3.4% over the past year. Announcement • Mar 31
Wenzhou Yuanfei pet toy products Co., Ltd. to Report Q1, 2025 Results on Apr 26, 2025 Wenzhou Yuanfei pet toy products Co., Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 New Risk • Feb 05
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: Major Risk High level of non-cash earnings (27% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.6% average weekly change). Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥17.27, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 18x in the Leisure industry in China. Total returns to shareholders of 24% over the past year. Announcement • Dec 31
Wenzhou Yuanfei pet toy products Co., Ltd. to Report Fiscal Year 2024 Results on Apr 26, 2025 Wenzhou Yuanfei pet toy products Co., Ltd. announced that they will report fiscal year 2024 results on Apr 26, 2025 Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to CN¥17.35, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 18x in the Leisure industry in China. Total returns to shareholders of 17% over the past year. Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.24 (vs CN¥0.20 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.24 (up from CN¥0.20 in 3Q 2023). Revenue: CN¥386.6m (up 29% from 3Q 2023). Net income: CN¥45.8m (up 19% from 3Q 2023). Profit margin: 12% (in line with 3Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Leisure industry in China. Announcement • Sep 30
Wenzhou Yuanfei pet toy products Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Wenzhou Yuanfei pet toy products 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 20% After last week's 20% share price gain to CN¥12.44, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the Leisure industry in China. Total loss to shareholders of 13% over the past year. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: CN¥0.20 (vs CN¥0.23 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.20 (down from CN¥0.23 in 2Q 2023). Revenue: CN¥298.5m (up 23% from 2Q 2023). Net income: CN¥37.4m (down 16% from 2Q 2023). Profit margin: 13% (down from 18% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Leisure industry in China. Declared Dividend • Jun 14
Dividend of CN¥0.20 announced Shareholders will receive a dividend of CN¥0.20. Ex-date: 19th June 2024 Payment date: 19th June 2024 Dividend yield will be 1.6%, which is lower than the industry average of 2.0%. Sustainability & Growth Dividend is covered by earnings (27% 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 50% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 30
Wenzhou Yuanfei pet toy products Co., Ltd., Annual General Meeting, May 21, 2024 Wenzhou Yuanfei pet toy products Co., Ltd., Annual General Meeting, May 21, 2024, at 14:30 China Standard Time. Location: 1F, No. 1, Chongle Road, Standard Park, Shuitou Town, Pingyang County, Wenzhou, Zhejiang China Announcement • Mar 30
Wenzhou Yuanfei pet toy products Co., Ltd. to Report Q1, 2024 Results on Apr 29, 2024 Wenzhou Yuanfei pet toy products Co., Ltd. announced that they will report Q1, 2024 results on Apr 29, 2024 Announcement • Feb 05
Wenzhou Yuanfei pet toy products Co., Ltd. (SZSE:001222) announces an Equity Buyback for CNY 30 million worth of its shares. Wenzhou Yuanfei pet toy products Co., Ltd. (SZSE:001222) announces a share repurchase program. Under the program, the company will repurchase up to CNY 30 million worth of its shares. The repurchase price will not be more than CNY 21.55 per share. The repurchased shares will be used for ESOP or equity incentives. The repurchase period will be not more than 12 months. Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥11.80, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Leisure industry in China. Total loss to shareholders of 37% over the past year. Announcement • Dec 30
Wenzhou Yuanfei pet toy products Co., Ltd. to Report Fiscal Year 2023 Results on Apr 29, 2024 Wenzhou Yuanfei pet toy products Co., Ltd. announced that they will report fiscal year 2023 results on Apr 29, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.20 (vs CN¥0.23 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.20. Revenue: CN¥300.6m (up 28% from 3Q 2022). Net income: CN¥38.5m (up 6.5% from 3Q 2022). Profit margin: 13% (down from 15% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Leisure industry in China. Announcement • Sep 30
Wenzhou Yuanfei pet toy products Co., Ltd. to Report Q3, 2023 Results on Oct 31, 2023 Wenzhou Yuanfei pet toy products Co., Ltd. announced that they will report Q3, 2023 results on Oct 31, 2023 Reported Earnings • Aug 28
Second quarter 2023 earnings released: EPS: CN¥0.23 (vs CN¥0.26 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.23. Revenue: CN¥242.6m (up 22% from 2Q 2022). Net income: CN¥44.7m (up 1.9% from 2Q 2022). Profit margin: 18% (down from 22% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Leisure industry in China. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥14.16, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 17x in the Leisure industry in China. Total loss to shareholders of 30% over the past year. New Risk • Jun 26
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 197% Dividend yield: 2.0% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 2.0% per year for the foreseeable future. High level of non-cash earnings (29% accrual ratio). Minor Risk Dividend is not well covered by cash flows (197% cash payout ratio). Announcement • Jun 22
Wenzhou Yuanfei Pet Toy Products Co., Ltd. Approves Final Cash Dividend (A Shares) for the Year 2022, Payable on 27 June 2023 Wenzhou Yuanfei pet toy products Co., Ltd. declared final cash dividend of CNY 4.00 per 10 shares (tax included) for the year 2022. Record date: 26 June 2023. Ex-date: 27 June 2023. Payment date: 27 June 2023. Announcement • May 19
Wenzhou Yuanfei pet toy products Co., Ltd. Approves Final Cash Dividend for the Year 2022 Wenzhou Yuanfei pet toy products Co., Ltd. at its AGM held on May 15, 2023 approved final cash dividend of CNY 4.00 per 10 shares (tax included) for the year 2022. Reported Earnings • Apr 26
First quarter 2023 earnings released: EPS: CN¥0.15 (vs CN¥0.57 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.15 (down from CN¥0.57 in 1Q 2022). Revenue: CN¥188.0m (down 46% from 1Q 2022). Net income: CN¥21.2m (down 64% from 1Q 2022). Profit margin: 11% (down from 17% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 44% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Leisure industry in China. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Chairman of the Board & General Manager Mingyun Zhuang was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 28
Third quarter 2022 earnings released Third quarter 2022 results: EPS: CN¥0.32. Net income: CN¥36.1m (up CN¥36.1m from 3Q 2021). Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Leisure industry in China. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥28.58, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 22x in the Food industry in China. Buying Opportunity • Sep 23
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be CN¥42.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 36% over the last year. Earnings per share has grown by 60%. Revenue is forecast to grow by 63% in 2 years. Earnings is forecast to grow by 86% in the next 2 years. Buying Opportunity • Sep 01
Now 22% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be CN¥53.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 36% over the last year. Earnings per share has grown by 60%. Revenue is forecast to grow by 63% in 2 years. Earnings is forecast to grow by 86% in the next 2 years. 
