Declared Dividend • May 11
Dividend reduced to CN¥0.10 Dividend of CN¥0.10 is 58% lower than last year. Ex-date: 14th May 2026 Payment date: 14th May 2026 Dividend yield will be 0.6%, which is lower than the industry average of 2.0%. Sustainability & Growth Dividend is covered by earnings (66% earnings payout ratio) but not covered by cash flows (374% cash payout ratio). The dividend has increased by an average of 30% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 67% over the next year, which should provide support to the dividend and adequate earnings cover. New Risk • Apr 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 30% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (374% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.7% net profit margin). Announcement • Mar 31
Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd to Report Q1, 2026 Results on Apr 23, 2026 Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd announced that they will report Q1, 2026 results on Apr 23, 2026 Reported Earnings • Mar 30
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.23 (down from CN¥0.62 in FY 2024). Revenue: CN¥1.15b (down 5.5% from FY 2024). Net income: CN¥64.0m (down 62% from FY 2024). Profit margin: 5.6% (down from 14% in FY 2024). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) also missed analyst estimates by 59%. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Mar 28
Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd, Annual General Meeting, Apr 20, 2026 Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd, Annual General Meeting, Apr 20, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Shifang, Sichuan China Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥17.99, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 29x in the Machinery industry in China. Total returns to shareholders of 21% over the past three years. Announcement • Dec 31
Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd to Report Fiscal Year 2025 Results on Mar 28, 2026 Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd announced that they will report fiscal year 2025 results on Mar 28, 2026 Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥19.13, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 26x in the Machinery industry in China. Total returns to shareholders of 64% over the past three years. Reported Earnings • Oct 23
Third quarter 2025 earnings released: EPS: CN¥0.011 (vs CN¥0.17 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.011 (down from CN¥0.17 in 3Q 2024). Revenue: CN¥264.3m (down 22% from 3Q 2024). Net income: CN¥2.99m (down 94% from 3Q 2024). Profit margin: 1.1% (down from 14% in 3Q 2024). Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Machinery 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 increased by 17% per year, which means it is well ahead of earnings. Announcement • Sep 30
Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd to Report Q3, 2025 Results on Oct 23, 2025 Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd announced that they will report Q3, 2025 results on Oct 23, 2025 New Risk • Sep 02
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 8.9% 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 (8.9% average weekly change). Minor Risk Dividend is not well covered by cash flows (100% cash payout ratio). Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥16.34, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 27x in the Machinery industry in China. Total returns to shareholders of 70% over the past three years. Reported Earnings • Aug 25
Second quarter 2025 earnings released: EPS: CN¥0.014 (vs CN¥0.18 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.014 (down from CN¥0.18 in 2Q 2024). Revenue: CN¥263.9m (down 40% from 2Q 2024). Net income: CN¥3.91m (down 92% from 2Q 2024). Profit margin: 1.5% (down from 11% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 7% per year. Announcement • Jul 02
Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd to Report First Half, 2025 Results on Aug 23, 2025 Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd announced that they will report first half, 2025 results on Aug 23, 2025 New Risk • Jun 18
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 Dividend is not well covered by cash flows (396% cash payout ratio). Share price has been volatile over the past 3 months (8.5% average weekly change). Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥14.90, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 21x in the Machinery industry in China. Total returns to shareholders of 60% over the past three years. Declared Dividend • May 12
Dividend increased to CN¥0.24 Dividend of CN¥0.24 is 3.5% higher than last year. Ex-date: 14th May 2025 Payment date: 14th May 2025 Dividend yield will be 1.9%, which is lower than the industry average of 2.0%. Sustainability & Growth Dividend is covered by earnings (38% earnings payout ratio) but not covered by cash flows (396% cash payout ratio). The dividend has increased by an average of 53% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 10% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 23
Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd Approves Cash Dividend for 2024 Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd at its Annual General Meeting held on 21 April 2025 approved cash dividend of CNY 2.38000000 per 10 shares (tax included) for 2024. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥10.54, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 21x in the Machinery industry in China. Total returns to shareholders of 18% over the past three years. Announcement • Apr 01
Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd Proposes Final Cash Dividend for the Year 2024 On March 31, 2025, Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd proposed final cash dividend for the year 2024 as follows: Cash dividend/10 shares (tax included): CNY 2.38000000. Announcement • Mar 31
Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd to Report Q1, 2025 Results on Apr 24, 2025 Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd announced that they will report Q1, 2025 results on Apr 24, 2025 Reported Earnings • Mar 30
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.62 (up from CN¥0.61 in FY 2023). Revenue: CN¥1.22b (down 19% from FY 2023). Net income: CN¥169.3m (up 3.5% from FY 2023). Profit margin: 14% (up from 11% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 29%. Earnings per share (EPS) also missed analyst estimates by 6.4%. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Mar 29
Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd, Annual General Meeting, Apr 21, 2025 Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd, Annual General Meeting, Apr 21, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Shifang, Sichuan China Announcement • Dec 31
Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd to Report Fiscal Year 2024 Results on Mar 29, 2025 Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd announced that they will report fiscal year 2024 results on Mar 29, 2025 Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: CN¥0.17 (vs CN¥0.17 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.17 (up from CN¥0.17 in 3Q 2023). Revenue: CN¥336.9m (down 15% from 3Q 2023). Net income: CN¥46.1m (up 1.0% from 3Q 2023). Profit margin: 14% (up from 12% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 32% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 22
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥13.72, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 17x in the Machinery industry in China. Total returns to shareholders of 12% over the past three years. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to CN¥11.30, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 15x in the Machinery industry in China. Total returns to shareholders of 11% over the past three years. Announcement • Sep 30
Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd to Report Q3, 2024 Results on Oct 23, 2024 Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd announced that they will report Q3, 2024 results on Oct 23, 2024 Reported Earnings • Aug 23
Second quarter 2024 earnings released: EPS: CN¥0.18 (vs CN¥0.20 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.18 (down from CN¥0.20 in 2Q 2023). Revenue: CN¥439.5m (down 40% from 2Q 2023). Net income: CN¥49.4m (down 42% from 2Q 2023). Profit margin: 11% (in line with 2Q 2023). Revenue is forecast to grow 43% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. New Risk • Aug 22
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 7.0% 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 (30% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.0% average weekly change). Announcement • Jun 29
Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd to Report First Half, 2024 Results on Aug 23, 2024 Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd announced that they will report first half, 2024 results on Aug 23, 2024 Valuation Update With 7 Day Price Move • May 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥13.08, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 17x in the Machinery industry in China. Total returns to shareholders of 62% over the past three years. Declared Dividend • May 10
Dividend increased to CN¥0.23 Dividend of CN¥0.23 is 15% higher than last year. Ex-date: 14th May 2024 Payment date: 14th May 2024 Dividend yield will be 2.1%, which is higher than the industry average of 2.0%. Sustainability & Growth Dividend is covered by earnings (38% 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 increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 31% over the next year, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • Apr 05
Consensus EPS estimates fall by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥1.97b to CN¥1.78b. EPS estimate also fell from CN¥0.845 per share to CN¥0.70 per share. Net income forecast to grow 17% next year vs 42% growth forecast for Machinery industry in China. Consensus price target down from CN¥14.38 to CN¥12.90. Share price fell 2.9% to CN¥10.53 over the past week. Reported Earnings • Mar 31
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: CN¥0.61 (up from CN¥0.52 in FY 2022). Revenue: CN¥1.50b (up 39% from FY 2022). Net income: CN¥163.5m (up 35% from FY 2022). Profit margin: 11% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 26% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Machinery industry in China. 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 9% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥10.13, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 17x in the Machinery industry in China. Total returns to shareholders of 22% over the past three years. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to CN¥8.08, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 14x in the Machinery industry in China. Total returns to shareholders of 12% over the past three years. Price Target Changed • Jan 22
Price target decreased by 12% to CN¥14.38 Down from CN¥16.26, the current price target is provided by 1 analyst. New target price is 34% above last closing price of CN¥10.71. Stock is down 29% over the past year. The company is forecast to post earnings per share of CN¥0.61 for next year compared to CN¥0.52 last year. Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥10.71, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 17x in the Machinery industry in China. Total returns to shareholders of 22% over the past three years. Announcement • Dec 30
Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd to Report Fiscal Year 2023 Results on Mar 30, 2024 Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd announced that they will report fiscal year 2023 results on Mar 30, 2024 Reported Earnings • Oct 24
Third quarter 2023 earnings released: EPS: CN¥0.17 (vs CN¥0.15 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.17 (up from CN¥0.15 in 3Q 2022). Revenue: CN¥397.1m (up 38% from 3Q 2022). Net income: CN¥45.7m (up 32% from 3Q 2022). Profit margin: 12% (in line with 3Q 2022). Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Sep 30
Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd to Report Q3, 2023 Results on Oct 24, 2023 Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd announced that they will report Q3, 2023 results on Oct 24, 2023 Announcement • Sep 20
Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd. Approves Director Appointments Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd. at its EGM held on September 18, 2023, approved Lin Zhenhua as non-independent Director and Lai Li as independent director. New Risk • Aug 25
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 28% 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 (28% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (18% increase in shares outstanding). Reported Earnings • Aug 25
Second quarter 2023 earnings released: EPS: CN¥0.20 (vs CN¥0.10 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.20 (up from CN¥0.10 in 2Q 2022). Revenue: CN¥729.1m (up 192% from 2Q 2022). Net income: CN¥84.6m (up 248% from 2Q 2022). Profit margin: 12% (up from 9.7% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • May 11
Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd Announces Final Profit Distribution Plan to Be Implemented on A Shares for the Year 2022, Payable on 16 May 2023 Sichuan Kexin Mechanical and Electrical Equipment 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 16 May 2023. Record date is 15 May 2023. Ex-date is 16 May 2023. Reported Earnings • Apr 26
First quarter 2023 earnings released: EPS: CN¥0.18 (vs CN¥0.15 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.18 (up from CN¥0.15 in 1Q 2022). Revenue: CN¥387.5m (up 44% from 1Q 2022). Net income: CN¥45.3m (up 34% from 1Q 2022). Profit margin: 12% (in line with 1Q 2022). Revenue is forecast to grow 27% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 28% per year. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥16.10, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 20x in the Machinery industry in China. Total returns to shareholders of 133% over the past three years. Board Change • Jan 08
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Non Independent Director Xuejiao Lin 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 17% share price gain to CN¥11.77, the stock trades at a trailing P/E ratio of 24.8x. Average trailing P/E is 35x in the Machinery industry in China. Total returns to shareholders of 71% over the past three years. Reported Earnings • Oct 18
Third quarter 2022 earnings released: EPS: CN¥0.34 (vs CN¥0.11 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.34 (up from CN¥0.11 in 3Q 2021). Revenue: CN¥288.4m (up 22% from 3Q 2021). Net income: CN¥34.7m (up 40% from 3Q 2021). Profit margin: 12% (up from 11% 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 27% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥9.96, the stock trades at a trailing P/E ratio of 23.1x. Average trailing P/E is 33x in the Machinery industry in China. Total returns to shareholders of 37% over the past three years. Reported Earnings • Aug 09
Second quarter 2022 earnings released: EPS: CN¥0.10 (vs CN¥0.092 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.10 (up from CN¥0.092 in 2Q 2021). Revenue: CN¥250.0m (up 51% from 2Q 2021). Net income: CN¥24.3m (up 14% from 2Q 2021). Profit margin: 9.7% (down from 13% 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 35% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 27
First quarter 2022 earnings released: EPS: CN¥0.15 (vs CN¥0.13 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.15 (up from CN¥0.13 in 1Q 2021). Revenue: CN¥269.0m (down 8.1% from 1Q 2021). Net income: CN¥33.8m (up 11% from 1Q 2021). Profit margin: 13% (up from 10% in 1Q 2021). The increase in margin was driven by lower expenses. 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 6% per year, which means it is significantly lagging earnings growth. Announcement • Apr 24
Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd Approves Cash Dividend for the Financial Year 2021 Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd announced its Annual General Meeting of 2021 on 21 April 2022, the company approved cash dividend of CNY 0.55000000 (tax included) per 10 shares for the financial year 2021. Announcement • Apr 02
Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd, Annual General Meeting, Apr 21, 2022 Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd, Annual General Meeting, Apr 21, 2022, at 14:00 China Standard Time. Agenda: To consider 2021 work report of the board of directors; to consider 2021 annual report and its summary; to consider 2021 work report of the supervisory committee; to consider 2021 annual accounts; to consider 2021 profit distribution plan; to consider Reappointment of audit firm; to consider Change of the business scope; to consider Amendments to the articles of associations of the Company; to consider Amendments to the rules of procedure governing the general meeting of shareholders; and to consider Amendments to the connected transactions decision-making system. Announcement • Mar 31
Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd Announces Final Dividend for the Financial Year 2021 Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd announced final dividend of CNY 0.55000000 per 10 shares for the financial year 2021. Reported Earnings • Mar 30
Full year 2021 earnings released: EPS: CN¥0.40 (vs CN¥0.34 in FY 2020) Full year 2021 results: EPS: CN¥0.40 (up from CN¥0.34 in FY 2020). Revenue: CN¥948.1m (up 29% from FY 2020). Net income: CN¥93.5m (up 17% from FY 2020). Profit margin: 9.9% (down from 11% in FY 2020). 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 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥11.92, the stock trades at a trailing P/E ratio of 32.3x. Average trailing P/E is 35x in the Machinery industry in China. Total returns to shareholders of 86% over the past three years. Reported Earnings • Oct 23
Third quarter 2021 earnings released: EPS CN¥0.11 (vs CN¥0.12 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¥235.7m (up 18% from 3Q 2020). Net income: CN¥24.8m (down 7.9% from 3Q 2020). Profit margin: 11% (down from 14% 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 60% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥13.10, the stock trades at a trailing P/E ratio of 34.7x. Average trailing P/E is 38x in the Machinery industry in China. Total returns to shareholders of 63% over the past three years. Reported Earnings • Aug 24
Second quarter 2021 earnings released: EPS CN¥0.092 (vs CN¥0.10 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and revenues, although profit margins were improved. Second quarter 2021 results: Revenue: CN¥166.1m (down 21% from 2Q 2020). Net income: CN¥21.4m (down 11% from 2Q 2020). Profit margin: 13% (up from 11% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Announcement • May 12
Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd Announces 2020 Final Profit Distribution Plan to Be Implemented (A Shares), Payable on 18 May 2021 Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd announced 2020 final profit distribution plan to be implemented (A shares) of CNY 0.50000000 per 10 shares (tax included), with Record date: 17 May 2021; Ex-date: 18 May 2021; and Payment date: 18 May 2021. Reported Earnings • Apr 25
First quarter 2021 earnings released: EPS CN¥0.13 (vs CN¥0.088 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: CN¥292.8m (up 100% from 1Q 2020). Net income: CN¥30.3m (up 49% from 1Q 2020). Profit margin: 10% (down from 14% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 28
Full year 2020 earnings released: EPS CN¥0.34 (vs CN¥0.19 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥735.2m (up 24% from FY 2019). Net income: CN¥80.0m (up 83% from FY 2019). Profit margin: 11% (up from 7.4% 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 82% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Feb 24
Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd to Report Fiscal Year 2020 Results on Mar 27, 2021 Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd announced that they will report fiscal year 2020 results on Mar 27, 2021 Is New 90 Day High Low • Feb 04
New 90-day low: CN¥7.87 The company is down 35% from its price of CN¥12.05 on 06 November 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 3.0% over the same period. Is New 90 Day High Low • Jan 13
New 90-day low: CN¥8.09 The company is down 32% from its price of CN¥11.85 on 15 October 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 6.0% over the same period. Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥8.23, the stock is trading at a trailing P/E ratio of 25x, down from the previous P/E ratio of 29.5x. This compares to an average P/E of 35x in the Machinery industry in China. Total returns to shareholders over the past three years are 4.3%. Is New 90 Day High Low • Dec 28
New 90-day low: CN¥8.82 The company is down 16% from its price of CN¥10.50 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 Machinery industry, which is up 9.0% over the same period. Is New 90 Day High Low • Dec 09
New 90-day low: CN¥9.89 The company is down 6.0% from its price of CN¥10.47 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 Machinery industry, which is up 6.0% over the same period. Valuation Update With 7 Day Price Move • Nov 17
Market pulls back on stock over the past week After last week's 16% share price decline to CN¥11.12, the stock is trading at a trailing P/E ratio of 33.8x, down from the previous P/E ratio of 40.4x. This compares to an average P/E of 40x in the Machinery industry in China. Total returns to shareholders over the past three years are 29%. Is New 90 Day High Low • Nov 11
New 90-day high: CN¥13.49 The company is up 52% from its price of CN¥8.85 on 13 August 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 6.0% over the same period. Valuation Update With 7 Day Price Move • Nov 11
Market bids up stock over the past week After last week's 17% share price gain to CN¥13.49, the stock is trading at a trailing P/E ratio of 41x, up from the previous P/E ratio of 35.1x. This compares to an average P/E of 41x in the Machinery industry in China. Total returns to shareholders over the past three years are 49%. Reported Earnings • Oct 23
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥76.1m, up 95% from the prior year. Total revenue was CN¥750.4m over the last 12 months, up 44% from the prior year. Valuation Update With 7 Day Price Move • Oct 14
Market bids up stock over the past week After last week's 18% share price gain to CN¥12.39, the stock is trading at a trailing P/E ratio of 42.8x, up from the previous P/E ratio of 36.4x. This compares to an average P/E of 44x in the Machinery industry in China. Total returns to shareholders over the past three years are 22%. Announcement • Sep 19
Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd Announces Management Changes Sichuan Kexin Mechanical and Electrical Equipment Co.,Ltd in its Extraordinary General Meeting of 2020 held on 17 September 2020, approved election of Lin Zhenhua, Lin Zhenrong, Qiang Kai, Li Yong, Lin Yilei and Lin Xuejiao as non-independent directors, election of Wang Xiongyuan, Xu Yaowu and Xiong Zhengping as independent directors and election of He Wei and Li Ping non-employee supervisors, cumulative voting system applicable.