New Risk • Jun 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 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. This is currently the only risk that has been identified for the company. Reported Earnings • Apr 25
Full year 2025 earnings released: EPS: CN¥0.27 (vs CN¥0.26 in FY 2024) Full year 2025 results: EPS: CN¥0.27 (up from CN¥0.26 in FY 2024). Revenue: CN¥1.23b (up 12% from FY 2024). Net income: CN¥104.8m (up 6.3% from FY 2024). Profit margin: 8.5% (down from 9.0% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Ankündigung • Apr 25
Jiangyin Jianghua Microelectronics Materials Co., Ltd, Annual General Meeting, May 15, 2026 Jiangyin Jianghua Microelectronics Materials Co., Ltd, Annual General Meeting, May 15, 2026, at 13:00 China Standard Time. Location: 4F, Executive Builidng, No. 581, Changshou Yungu Road, Zhouzhuang Town, Jiangyin, Jiangsu China Ankündigung • Mar 30
Jiangyin Jianghua Microelectronics Materials Co., Ltd to Report Q1, 2026 Results on Apr 30, 2026 Jiangyin Jianghua Microelectronics Materials Co., Ltd announced that they will report Q1, 2026 results on Apr 30, 2026 New Risk • Jan 23
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: 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 (7.5% average weekly change). Ankündigung • Dec 26
Jiangyin Jianghua Microelectronics Materials Co., Ltd to Report Fiscal Year 2025 Results on Apr 25, 2026 Jiangyin Jianghua Microelectronics Materials Co., Ltd announced that they will report fiscal year 2025 results on Apr 25, 2026 Reported Earnings • Oct 25
Third quarter 2025 earnings released: EPS: CN¥0.08 (vs CN¥0.076 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.08 (up from CN¥0.076 in 3Q 2024). Revenue: CN¥329.4m (up 10% from 3Q 2024). Net income: CN¥30.7m (up 4.6% from 3Q 2024). Profit margin: 9.3% (in line with 3Q 2024). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Ankündigung • Sep 30
Jiangyin Jianghua Microelectronics Materials Co., Ltd to Report Q3, 2025 Results on Oct 25, 2025 Jiangyin Jianghua Microelectronics Materials Co., Ltd announced that they will report Q3, 2025 results on Oct 25, 2025 Declared Dividend • Sep 15
First half dividend of CN¥0.03 announced Shareholders will receive a dividend of CN¥0.03. Ex-date: 17th September 2025 Payment date: 17th September 2025 Dividend yield will be 0.4%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (39% earnings payout ratio) but not covered by cash flows (216% cash payout ratio). The dividend has increased by an average of 11% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 124% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 25
Second quarter 2025 earnings released: EPS: CN¥0.055 (vs CN¥0.082 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.055 (down from CN¥0.082 in 2Q 2024). Revenue: CN¥305.0m (up 9.9% from 2Q 2024). Net income: CN¥21.3m (down 33% from 2Q 2024). Profit margin: 7.0% (down from 11% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Ankündigung • Jun 30
Jiangyin Jianghua Microelectronics Materials Co., Ltd to Report First Half, 2025 Results on Aug 23, 2025 Jiangyin Jianghua Microelectronics Materials Co., Ltd announced that they will report first half, 2025 results on Aug 23, 2025 Reported Earnings • Apr 26
First quarter 2025 earnings released: EPS: CN¥0.07 (vs CN¥0.066 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.07 (up from CN¥0.066 in 1Q 2024). Revenue: CN¥275.4m (up 13% from 1Q 2024). Net income: CN¥26.8m (up 5.6% from 1Q 2024). Profit margin: 9.7% (in line with 1Q 2024). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Price Target Changed • Apr 23
Price target increased by 19% to CN¥22.08 Up from CN¥18.58, the current price target is an average from 2 analysts. New target price is 14% above last closing price of CN¥19.33. Stock is up 62% over the past year. The company is forecast to post earnings per share of CN¥0.32 for next year compared to CN¥0.26 last year. Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥18.85, the stock trades at a forward P/E ratio of 47x. Average forward P/E is 21x in the Chemicals industry in China. Total returns to shareholders of 5.3% over the past three years. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥19.49, the stock trades at a forward P/E ratio of 61x. Average forward P/E is 22x in the Chemicals industry in China. Total returns to shareholders of 14% over the past three years. New Risk • Mar 30
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.6% 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. This is currently the only risk that has been identified for the company. Ankündigung • Mar 28
Jiangyin Jianghua Microelectronics Materials Co., Ltd to Report Q1, 2025 Results on Apr 26, 2025 Jiangyin Jianghua Microelectronics Materials Co., Ltd announced that they will report Q1, 2025 results on Apr 26, 2025 Ankündigung • Mar 24
Jiangyin Jianghua Microelectronics Materials Co., Ltd, Annual General Meeting, Apr 11, 2025 Jiangyin Jianghua Microelectronics Materials Co., Ltd, Annual General Meeting, Apr 11, 2025, at 13:00 China Standard Time. Location: The Company's Meeting Room, Jiangyin, Jiangsu China Reported Earnings • Mar 22
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.26 (down from CN¥0.27 in FY 2023). Revenue: CN¥1.10b (up 6.7% from FY 2023). Net income: CN¥98.6m (down 6.3% from FY 2023). Profit margin: 9.0% (down from 10% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 24%. Revenue is forecast to grow 27% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 1% per year. New Risk • Feb 02
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 8.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Ankündigung • Dec 27
Jiangyin Jianghua Microelectronics Materials Co., Ltd to Report Fiscal Year 2024 Results on Mar 22, 2025 Jiangyin Jianghua Microelectronics Materials Co., Ltd announced that they will report fiscal year 2024 results on Mar 22, 2025 Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥19.00, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 20x in the Chemicals industry in China. Total returns to shareholders of 9.4% over the past three years. Ankündigung • Nov 25
Jiangyin Jianghua Microelectronics Materials Co., Ltd (SHSE:603078) agreed to acquire remaining 25.71% stake in Jianghuawei (Zhenjiang) Electronic Materials Co., Ltd. from Jinshi Manufacturing Transformation and Upgrading New Materials Fund (L.P.) and Beijing Taiyou Investment Management Co., Ltd. for CNY 337.64 million. Jiangyin Jianghua Microelectronics Materials Co., Ltd (SHSE:603078) agreed to acquire remaining 25.71% stake in Jianghuawei (Zhenjiang) Electronic Materials Co., Ltd. from Jinshi Manufacturing Transformation and Upgrading New Materials Fund (L.P.) and Beijing Taiyou Investment Management Co., Ltd. for CNY 337.64 million on November 22, 2024. A cash consideration of CNY 337.64 million will be paid by Jiangyin Jianghua Microelectronics Materials Co., Ltd. As part of consideration, CNY 337.64 million is paid towards common equity of Jianghuawei (Zhenjiang) Electronic Materials Co., Ltd. Upon completion, Jiangyin Jianghua Microelectronics Materials Co., Ltd will own 100% stake in Jianghuawei (Zhenjiang) Electronic Materials Co., Ltd. The transaction will be financed through equity investment of CNY 135.05 trillion and senior debt of CNY 202.58 million. As of September 30, 2024, Jianghuawei (Zhenjiang) Electronic Materials Co., Ltd. reported total assets of CNY 1.2 billion and total common equity of CNY 884.63 million. The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥18.04, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 19x in the Chemicals industry in China. Total returns to shareholders of 14% over the past three years. Reported Earnings • Oct 27
Third quarter 2024 earnings released: EPS: CN¥0.076 (vs CN¥0.087 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.076 (down from CN¥0.087 in 3Q 2023). Revenue: CN¥298.7m (up 9.6% from 3Q 2023). Net income: CN¥29.4m (down 13% from 3Q 2023). Profit margin: 9.8% (down from 12% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Ankündigung • Sep 30
Jiangyin Jianghua Microelectronics Materials Co., Ltd to Report Q3, 2024 Results on Oct 26, 2024 Jiangyin Jianghua Microelectronics Materials Co., Ltd announced that they will report Q3, 2024 results on Oct 26, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥14.29, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 16x in the Chemicals industry in China. Total returns to shareholders of 8.8% over the past three years. Major Estimate Revision • Aug 23
Consensus EPS estimates fall by 18%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from CN¥1.25b to CN¥1.27b. EPS estimate fell from CN¥0.41 to CN¥0.337 per share. Net income forecast to grow 61% next year vs 49% growth forecast for Chemicals industry in China. Consensus price target down from CN¥18.00 to CN¥16.00. Share price fell 6.1% to CN¥12.39 over the past week. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: CN¥0.082 (vs CN¥0.099 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.082 (down from CN¥0.099 in 2Q 2023). Revenue: CN¥277.6m (up 1.7% from 2Q 2023). Net income: CN¥31.5m (down 17% from 2Q 2023). Profit margin: 11% (down from 14% in 2Q 2023). 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 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jul 01
Now 27% undervalued Over the last 90 days, the stock has risen 2.0% to CN¥13.47. The fair value is estimated to be CN¥18.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 21%. Revenue is forecast to grow by 66% in 2 years. Earnings are forecast to grow by 127% in the next 2 years. Ankündigung • Jun 29
Jiangyin Jianghua Microelectronics Materials Co., Ltd to Report First Half, 2024 Results on Aug 17, 2024 Jiangyin Jianghua Microelectronics Materials Co., Ltd announced that they will report first half, 2024 results on Aug 17, 2024 Buy Or Sell Opportunity • Jun 18
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at CN¥14.55. The fair value is estimated to be CN¥18.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 21%. Revenue is forecast to grow by 66% in 2 years. Earnings are forecast to grow by 127% in the next 2 years. Ankündigung • Apr 29
Jiangyin Jianghua Microelectronics Materials Co., Ltd, Annual General Meeting, May 17, 2024 Jiangyin Jianghua Microelectronics Materials Co., Ltd, Annual General Meeting, May 17, 2024, at 13:00 China Standard Time. Location: The Company's Meeting Room, Jiangyin, Jiangsu China Reported Earnings • Apr 28
First quarter 2024 earnings released: EPS: CN¥0.066 (vs CN¥0.07 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.066 (down from CN¥0.07 in 1Q 2023). Revenue: CN¥243.9m (up 8.0% from 1Q 2023). Net income: CN¥25.4m (down 5.3% from 1Q 2023). Profit margin: 10% (down from 12% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Chemicals 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 1% per year, which means it is significantly lagging earnings growth. Ankündigung • Mar 29
Jiangyin Jianghua Microelectronics Materials Co., Ltd to Report Q1, 2024 Results on Apr 27, 2024 Jiangyin Jianghua Microelectronics Materials Co., Ltd announced that they will report Q1, 2024 results on Apr 27, 2024 Reported Earnings • Mar 16
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.27 (down from CN¥0.32 in FY 2022). Revenue: CN¥1.03b (up 9.7% from FY 2022). Net income: CN¥105.3m (flat on FY 2022). Profit margin: 10% (down from 11% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 15%. Earnings per share (EPS) also missed analyst estimates by 31%. Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥11.05, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 13x in the Chemicals industry in China. Total loss to shareholders of 7.6% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥16.26 per share. Buy Or Sell Opportunity • Jan 22
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to CN¥12.99. The fair value is estimated to be CN¥16.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 29%. Revenue is forecast to grow by 84% in 2 years. Earnings are forecast to grow by 128% in the next 2 years. Ankündigung • Dec 29
Jiangyin Jianghua Microelectronics Materials Co., Ltd to Report Fiscal Year 2023 Results on Feb 29, 2024 Jiangyin Jianghua Microelectronics Materials Co., Ltd announced that they will report fiscal year 2023 results on Feb 29, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.087 (vs CN¥0.061 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.087 (up from CN¥0.061 in 3Q 2022). Revenue: CN¥272.6m (up 21% from 3Q 2022). Net income: CN¥33.7m (up 66% from 3Q 2022). Profit margin: 12% (up from 9.0% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 19
Second quarter 2023 earnings released: EPS: CN¥0.099 (vs CN¥0.086 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.099 (up from CN¥0.086 in 2Q 2022). Revenue: CN¥273.0m (up 21% from 2Q 2022). Net income: CN¥38.0m (up 33% from 2Q 2022). Profit margin: 14% (up from 13% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 15
Full year 2022 earnings released: EPS: CN¥0.41 (vs CN¥0.22 in FY 2021) Full year 2022 results: EPS: CN¥0.41 (up from CN¥0.22 in FY 2021). Revenue: CN¥939.2m (up 19% from FY 2021). Net income: CN¥105.7m (up 87% from FY 2021). Profit margin: 11% (up from 7.1% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Ankündigung • Dec 02
Jiangyin Jianghua Microelectronics Materials Co., Ltd announced that it has received CNY 646.210313 million in funding from Zibo Xingheng Tusong Holdings Co., Ltd On December 1, 2022, Jiangyin Jianghua Microelectronics Materials Co., Ltd closed the transaction. The company paid issuance fees of CNY 7,641,145.05. The company will take CNY 596,689,044.27 as a capital reserve. Board Change • Nov 16
Less than half of directors are independent There are 10 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 10 new directors. No experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Jun Cheng is the most experienced director on the board, commencing their role in 2019. Independent Director Zuo Jun Xu was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 31
Third quarter 2022 earnings released: EPS: CN¥0.08 (vs CN¥0.049 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.08 (up from CN¥0.049 in 3Q 2021). Revenue: CN¥224.9m (up 10.0% from 3Q 2021). Net income: CN¥20.3m (up 62% from 3Q 2021). Profit margin: 9.0% (up from 6.1% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥23.75, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 15x in the Chemicals industry in China. Total returns to shareholders of 57% over the past three years. Reported Earnings • Sep 02
Second quarter 2022 earnings released: EPS: CN¥0.11 (vs CN¥0.023 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.11 (up from CN¥0.023 in 2Q 2021). Revenue: CN¥226.1m (up 27% from 2Q 2021). Net income: CN¥28.5m (up 380% from 2Q 2021). Profit margin: 13% (up from 3.3% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 83%, compared to a 33% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 23% per year. Major Estimate Revision • Jul 09
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from CN¥0.55 to CN¥0.61. Revenue forecast unchanged at CN¥1.58b. Net income forecast to grow 99% next year vs 40% growth forecast for Chemicals industry in China. Consensus price target of CN¥29.08 unchanged from last update. Share price fell 2.5% to CN¥27.15 over the past week. Board Change • Jun 27
Less than half of directors are independent There are 10 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 10 new directors. No experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Jun Cheng is the most experienced director on the board, commencing their role in 2019. Independent Director Zuo Jun Xu was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • May 02
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: CN¥0.17 (up from CN¥0.048 in 1Q 2021). Revenue: CN¥243.9m (up 56% from 1Q 2021). Net income: CN¥33.0m (up 254% from 1Q 2021). Profit margin: 14% (up from 6.0% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 13%. Over the next year, revenue is forecast to grow 81%, compared to a 42% growth forecast for the 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 increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Apr 27
Price target increased to CN¥37.80 Up from CN¥17.46, the current price target is an average from 3 analysts. New target price is 33% above last closing price of CN¥28.45. The company is forecast to post earnings per share of CN¥0.71 for next year compared to CN¥0.29 last year. Reported Earnings • Mar 15
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥0.29 (down from CN¥0.31 in FY 2020). Revenue: CN¥792.1m (up 41% from FY 2020). Net income: CN¥56.5m (down 2.9% from FY 2020). Profit margin: 7.1% (down from 10% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 13%. Over the next year, revenue is forecast to grow 60%, compared to a 43% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.064 (vs CN¥0.12 in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥204.4m (up 35% from 3Q 2020). Net income: CN¥12.5m (down 39% from 3Q 2020). Profit margin: 6.1% (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 11% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS CN¥0.03 (vs CN¥0.081 in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥178.8m (up 31% from 2Q 2020). Net income: CN¥5.95m (down 55% from 2Q 2020). Profit margin: 3.3% (down from 9.8% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥22.95, the stock trades at a trailing P/E ratio of 73.6x. Average forward P/E is 18x in the Chemicals industry in China. Total returns to shareholders of 11% over the past three years. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS CN¥0.062 (vs CN¥0.062 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¥156.4m (up 30% from 1Q 2020). Net income: CN¥9.33m (up 6.0% from 1Q 2020). Profit margin: 6.0% (down from 7.3% 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 6% per year whereas the company’s share price has increased by 4% per year. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS CN¥0.41 (vs CN¥0.24 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥563.8m (up 15% from FY 2019). Net income: CN¥58.2m (up 69% from FY 2019). Profit margin: 10% (up from 7.0% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 1% per year. Ankündigung • Mar 05
Jiangyin Jianghua Microelectronics Materials Co., Ltd to Report Fiscal Year 2020 Results on Mar 30, 2021 Jiangyin Jianghua Microelectronics Materials Co., Ltd announced that they will report fiscal year 2020 results on Mar 30, 2021 Is New 90 Day High Low • Jan 28
New 90-day low: CN¥30.40 The company is down 22% from its price of CN¥38.94 on 30 October 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 23% over the same period. Is New 90 Day High Low • Jan 12
New 90-day low: CN¥31.77 The company is down 27% from its price of CN¥43.37 on 14 October 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 9.0% over the same period. Is New 90 Day High Low • Dec 10
New 90-day low: CN¥36.15 The company is down 10.0% from its price of CN¥40.00 on 11 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 Chemicals industry, which is up 10.0% over the same period. Reported Earnings • Nov 01
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥44.2m, up 2.1% from the prior year. Total revenue was CN¥534.8m over the last 12 months, up 15% from the prior year. Ankündigung • Oct 29
Jiangyin Jianghua Microelectronics Materials Co., Ltd to Report Q3, 2020 Results on Oct 31, 2020 Jiangyin Jianghua Microelectronics Materials Co., Ltd announced that they will report Q3, 2020 results on Oct 31, 2020 Is New 90 Day High Low • Oct 23
New 90-day low: CN¥39.52 The company is down 17% from its price of CN¥47.48 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 Chemicals industry, which is up 9.0% over the same period. Ankündigung • Jul 18
Jiangyin Jianghua Microelectronics Materials Co., Ltd to Report First Half, 2020 Results on Aug 31, 2020 Jiangyin Jianghua Microelectronics Materials Co., Ltd announced that they will report first half, 2020 results on Aug 31, 2020 