Upcoming Dividend • May 05
Upcoming dividend of CN¥0.08 per share Eligible shareholders must have bought the stock before 12 May 2026. Payment date: 12 May 2026. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Chinese dividend payers (1.9%). In line with average of industry peers (1.3%). New Risk • May 04
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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 26% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.9% average weekly change). Reported Earnings • May 01
First quarter 2026 earnings released: EPS: CN¥0.075 (vs CN¥0.06 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.075 (up from CN¥0.06 in 1Q 2025). Revenue: CN¥548.2m (down 4.9% from 1Q 2025). Net income: CN¥72.0m (up 25% from 1Q 2025). Profit margin: 13% (up from 10.0% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥6.03, the stock trades at a trailing P/E ratio of 23.8x. Average trailing P/E is 54x in the Machinery industry in China. Total returns to shareholders of 37% over the past three years. Announcement • Mar 30
Gem-Year Industrial Co.,Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Gem-Year Industrial Co.,Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Reported Earnings • Mar 20
Full year 2025 earnings released: EPS: CN¥0.25 (vs CN¥0.14 in FY 2024) Full year 2025 results: EPS: CN¥0.25 (up from CN¥0.14 in FY 2024). Revenue: CN¥2.34b (down 1.4% from FY 2024). Net income: CN¥242.2m (up 86% from FY 2024). Profit margin: 10% (up from 5.5% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Mar 19
Gem-Year Industrial Co.,Ltd., Annual General Meeting, Apr 10, 2026 Gem-Year Industrial Co.,Ltd., Annual General Meeting, Apr 10, 2026, at 14:00 China Standard Time. Location: No. 8, Jinyi Avenue, Jiashan Economic Development Zone, Zhejiang China Announcement • Dec 26
Gem-Year Industrial Co.,Ltd. to Report Fiscal Year 2025 Results on Mar 20, 2026 Gem-Year Industrial Co.,Ltd. announced that they will report fiscal year 2025 results on Mar 20, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.048 (vs CN¥0.12 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.048 (down from CN¥0.12 in 3Q 2024). Revenue: CN¥549.9m (down 33% from 3Q 2024). Net income: CN¥45.5m (down 58% from 3Q 2024). Profit margin: 8.3% (down from 13% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Gem-Year Industrial Co.,Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Gem-Year Industrial Co.,Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Announcement • Jul 03
Gem-Year Industrial Co.,Ltd. to Report First Half, 2025 Results on Aug 29, 2025 Gem-Year Industrial Co.,Ltd. announced that they will report first half, 2025 results on Aug 29, 2025 Reported Earnings • May 03
First quarter 2025 earnings released: EPS: CN¥0.06 (vs CN¥0.022 loss in 1Q 2024) First quarter 2025 results: EPS: CN¥0.06 (up from CN¥0.022 loss in 1Q 2024). Revenue: CN¥576.3m (up 36% from 1Q 2024). Net income: CN¥57.6m (up CN¥78.2m from 1Q 2024). Profit margin: 10.0% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥3.92, the stock trades at a trailing P/E ratio of 28.7x. Average trailing P/E is 35x in the Machinery industry in China. Total loss to shareholders of 28% over the past three years. Announcement • Mar 28
Gem-Year Industrial Co.,Ltd. to Report Q1, 2025 Results on Apr 30, 2025 Gem-Year Industrial Co.,Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Reported Earnings • Mar 18
Full year 2024 earnings released: EPS: CN¥0.14 (vs CN¥0.02 loss in FY 2023) Full year 2024 results: EPS: CN¥0.14 (up from CN¥0.02 loss in FY 2023). Revenue: CN¥2.37b (up 2.4% from FY 2023). Net income: CN¥130.1m (up CN¥149.4m from FY 2023). Profit margin: 5.5% (up from net loss in FY 2023). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Announcement • Mar 18
Gem-Year Industrial Co.,Ltd., Annual General Meeting, Apr 15, 2025 Gem-Year Industrial Co.,Ltd., Annual General Meeting, Apr 15, 2025, at 14:00 China Standard Time. Location: No. 8, Jinyi Avenue, Jiashan Economic Development Zone, Zhejiang China Announcement • Dec 27
Gem-Year Industrial Co.,Ltd. to Report Fiscal Year 2024 Results on Mar 18, 2025 Gem-Year Industrial Co.,Ltd. announced that they will report fiscal year 2024 results on Mar 18, 2025 Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to CN¥4.74, the stock trades at a trailing P/E ratio of 72.4x. Average trailing P/E is 35x in the Machinery industry in China. Negligible returns to shareholders over past three years. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.12 (vs CN¥0.022 loss in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.12 (up from CN¥0.022 loss in 3Q 2023). Revenue: CN¥823.2m (up 19% from 3Q 2023). Net income: CN¥108.6m (up CN¥124.0m from 3Q 2023). Profit margin: 13% (up from net loss in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Oct 24
Now 21% undervalued Over the last 90 days, the stock has risen 24% to CN¥3.55. The fair value is estimated to be CN¥4.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Oct 09
Now 22% undervalued Over the last 90 days, the stock has risen 21% to CN¥3.52. The fair value is estimated to be CN¥4.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company became loss making. Announcement • Sep 30
Gem-Year Industrial Co.,Ltd. to Report Q3, 2024 Results on Oct 30, 2024 Gem-Year Industrial Co.,Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Reported Earnings • Aug 30
Second quarter 2024 earnings released: CN¥0.006 loss per share (vs CN¥0.004 loss in 2Q 2023) Second quarter 2024 results: CN¥0.006 loss per share (further deteriorated from CN¥0.004 loss in 2Q 2023). Revenue: CN¥480.3m (down 3.8% from 2Q 2023). Net loss: CN¥6.47m (loss widened 64% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. Announcement • Jun 28
Gem-Year Industrial Co.,Ltd. to Report First Half, 2024 Results on Aug 30, 2024 Gem-Year Industrial Co.,Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Reported Earnings • Apr 30
First quarter 2024 earnings released: CN¥0.022 loss per share (vs CN¥0.02 profit in 1Q 2023) First quarter 2024 results: CN¥0.022 loss per share (down from CN¥0.02 profit in 1Q 2023). Revenue: CN¥424.1m (down 13% from 1Q 2023). Net loss: CN¥20.6m (down 208% from profit in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 20
Full year 2023 earnings released: CN¥0.02 loss per share (vs CN¥0.12 profit in FY 2022) Full year 2023 results: CN¥0.02 loss per share (down from CN¥0.12 profit in FY 2022). Revenue: CN¥2.31b (down 15% from FY 2022). Net loss: CN¥19.3m (down 117% from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Announcement • Apr 20
Gem-Year Industrial Co.,Ltd., Annual General Meeting, May 09, 2024 Gem-Year Industrial Co.,Ltd., Annual General Meeting, May 09, 2024, at 14:00 China Standard Time. Location: No. 8, Jinyi Avenue, Jiashan Economic Development Zone, Zhejiang China Announcement • Mar 29
Gem-Year Industrial Co.,Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Gem-Year Industrial Co.,Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Buy Or Sell Opportunity • Feb 08
Now 23% overvalued Over the last 90 days, the stock has fallen 28% to CN¥3.42. The fair value is estimated to be CN¥2.78, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.7% over the last 3 years. Earnings per share has declined by 66%. Announcement • Dec 30
Gem-Year Industrial Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 19, 2024 Gem-Year Industrial Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 19, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: CN¥0.022 loss per share (vs CN¥0.008 profit in 3Q 2022) Third quarter 2023 results: CN¥0.022 loss per share (down from CN¥0.008 profit in 3Q 2022). Revenue: CN¥693.4m (up 5.9% from 3Q 2022). Net loss: CN¥15.4m (down 302% from profit in 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. New Risk • Aug 30
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 1,019% 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 earnings (323% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.3% net profit margin). Reported Earnings • Aug 30
Second quarter 2023 earnings released: CN¥0.004 loss per share (vs CN¥0.048 profit in 2Q 2022) Second quarter 2023 results: CN¥0.004 loss per share (down from CN¥0.048 profit in 2Q 2022). Revenue: CN¥499.5m (down 32% from 2Q 2022). Net loss: CN¥3.95m (down 109% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Jun 28
Gem-Year Industrial Co.,Ltd. to Report First Half, 2023 Results on Aug 30, 2023 Gem-Year Industrial Co.,Ltd. announced that they will report first half, 2023 results on Aug 30, 2023 Reported Earnings • Apr 22
Full year 2022 earnings released: EPS: CN¥0.12 (vs CN¥0.23 in FY 2021) Full year 2022 results: EPS: CN¥0.12 (down from CN¥0.23 in FY 2021). Revenue: CN¥2.72b (down 5.4% from FY 2021). Net income: CN¥114.9m (down 47% from FY 2021). Profit margin: 4.2% (down from 7.5% in FY 2021). Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 8% per year. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. 1 independent director (6 non-independent directors). Independent Director Huizhong Zhang was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.008 (vs CN¥0.055 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.008 (down from CN¥0.055 in 3Q 2021). Revenue: CN¥654.8m (down 18% from 3Q 2021). Net income: CN¥7.64m (down 85% from 3Q 2021). Profit margin: 1.2% (down from 6.6% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 31
Second quarter 2022 earnings released: EPS: CN¥0.048 (vs CN¥0.11 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.048 (down from CN¥0.11 in 2Q 2021). Revenue: CN¥730.4m (down 13% from 2Q 2021). Net income: CN¥46.1m (down 55% from 2Q 2021). Profit margin: 6.3% (down from 12% in 2Q 2021). The decrease in margin was driven by lower revenue. 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 8% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: CN¥0.057 (vs CN¥0.052 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.057 (up from CN¥0.052 in 1Q 2021). Revenue: CN¥672.5m (up 19% from 1Q 2021). Net income: CN¥54.6m (up 9.6% from 1Q 2021). Profit margin: 8.1% (down from 8.8% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Board Change • Apr 27
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. 12 experienced directors. No highly experienced directors. 3 independent directors (7 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Apr 21
Full year 2021 earnings released: EPS: CN¥0.22 (vs CN¥0.56 in FY 2020) Full year 2021 results: EPS: CN¥0.22 (down from CN¥0.56 in FY 2020). Revenue: CN¥2.87b (up 14% from FY 2020). Net income: CN¥215.1m (down 57% from FY 2020). Profit margin: 7.5% (down from 20% 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 36% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 25% share price gain to CN¥6.09, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 33x in the Machinery industry in China. Total loss to shareholders of 14% over the past three years. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.055 (vs CN¥0.057 in 3Q 2020) The company reported a mediocre third quarter result with weaker profit margins, although earnings were flat and revenues improved. Third quarter 2021 results: Revenue: CN¥796.2m (up 6.3% from 3Q 2020). Net income: CN¥52.4m (flat on 3Q 2020). Profit margin: 6.6% (down from 7.0% 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 47% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS CN¥0.11 (vs CN¥0.061 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥835.0m (up 17% from 2Q 2020). Net income: CN¥103.1m (up 131% from 2Q 2020). Profit margin: 12% (up from 6.2% 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 43% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 20
Full year 2020 earnings released: EPS CN¥0.56 (vs CN¥0.17 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CN¥2.52b (down 14% from FY 2019). Net income: CN¥502.4m (up 263% from FY 2019). Profit margin: 20% (up from 4.7% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 04
New 90-day low: CN¥4.78 The company is down 5.0% from its price of CN¥5.02 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. Announcement • Jan 28
Gem-Year Industrial Co., Ltd.(XSSC:601002) dropped from S&P Global BMI Index Gem-Year Industrial Co., Ltd.(XSSC:601002) dropped from S&P Global BMI Index Is New 90 Day High Low • Dec 16
New 90-day low: CN¥4.92 The company is down 22% from its price of CN¥6.27 on 17 September 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 4.0% over the same period. Announcement • Nov 10
Ningbo Jinchang Management Consulting Partnership Enterprise (Limited Partnership) agreed to acquire 3.65% in Gem-Year Logistics Co., Ltd. from Gem-Year Industrial Co., Ltd. (SHSE:601002) for CNY 42.7 million. Ningbo Jinchang Management Consulting Partnership Enterprise (Limited Partnership) agreed to acquire 3.65% in Gem-Year Logistics Co., Ltd. from Gem-Year Industrial Co., Ltd. (SHSE:601002) for CNY 42.7 million on November 6, 2020. The consideration shall be paid by bank transfer within 15 days from the agreement takes effect. The transaction was reviewed and approved unanimously by the Board of Directors of Gem-Year Industrial Co., Ltd. on November 6, 2020, and there is no need to submit it to the shareholders meeting for deliberation. Reported Earnings • Oct 28
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥119.0m, down 35% from the prior year. Total revenue was CN¥2.35b over the last 12 months, down 30% from the prior year. Is New 90 Day High Low • Oct 23
New 90-day low: CN¥5.56 The company is down 1.0% from its price of CN¥5.61 on 24 July 2020. The Chinese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 7.0% over the same period. Announcement • Sep 08
Jiaxing Fuxi Enterprise Management Co., Ltd completed the acquisition of 20.6% stake in Gem-Year Logistics Co., Ltd., from Gem-Year Industrial Co., Ltd. (SHSE:601002). Jiaxing Fuxi Enterprise Management Co., Ltd agreed to acquire 20.6% stake in Gem-Year Logistics Co., Ltd., from Gem-Year Industrial Co., Ltd. (SHSE:601002) for CNY 97.3 million on May 13, 2020. Jiaxing Fuxi Enterprise Management will pay 50% of the total equity transfer price to Gem-Year Industrial Co totaling CNY 48.67 million before July 31, 2020 and before August 15, 2020, Jiaxing Fuxi Enterprise Management will pay Gem-Year Industrial Co the remaining 50% of the total equity transfer price of CNY 48.67 million. For the year ended December 31, 2019, Gem-Year Logistics Co., Ltd., had total assets of CNY 426.8 million, net assets of CNY 340.3 million, revenues of CNY 384.3 million and net profit of CNY 23.2 million. The transaction was reviewed and approved by the third interim meeting of the sixth directorate of the Gem-Year Industrial Co., Ltd. As of May 29, 2020, transaction was approved by the shareholders of Gem-Year Logistics.
Jiaxing Fuxi Enterprise Management Co., Ltd completed the acquisition of 20.6% stake in Gem-Year Logistics Co., Ltd., from Gem-Year Industrial Co., Ltd. (SHSE:601002) on September 5, 2020. Announcement • Sep 03
Ningbo Jinchang Management Consulting Partnership Enterprise (Limited Partnership) agreed to acquire 13.82% in Gem-Year Logistics Co., Ltd. from Gem-Year Industrial Co., Ltd. (SHSE:601002) for CNY 60.95 million. Ningbo Jinchang Management Consulting Partnership Enterprise (Limited Partnership) agreed to acquire 13.82% in Gem-Year Logistics Co., Ltd. from Gem-Year Industrial Co., Ltd. (SHSE:601002) for CNY 60.95 million in August 28, 2020. As of December 31, 2019, Gem-Year Logistics Co., Ltd. recorded total assets of CNY 426.8 million, Net asset of CNY 340.33 million, total revenue of CNY 384.29 million and net profit of CNY 23.21 million. The transaction has been approved by board of directors of Gem-Year Industrial Co., Ltd. Announcement • Jul 09
Gem-Year Industrial Co., Ltd. to Report First Half, 2020 Results on Aug 26, 2020 Gem-Year Industrial Co., Ltd. announced that they will report first half, 2020 results on Aug 26, 2020 
