Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥16.69, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 18x in the Auto Components industry in China. Total returns to shareholders of 111% over the past three years. Annonce • Jun 30
Fulin Precision Co., Ltd. to Report First Half, 2026 Results on Aug 27, 2026 Fulin Precision Co., Ltd. announced that they will report first half, 2026 results on Aug 27, 2026 Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥19.10, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 18x in the Auto Components industry in China. Total returns to shareholders of 132% over the past three years. Declared Dividend • May 30
Dividend of CN¥0.10 announced Shareholders will receive a dividend of CN¥0.10. Ex-date: 4th June 2026 Payment date: 4th June 2026 Dividend yield will be 0.4%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (34% earnings payout ratio) but not covered by cash flows (dividend approximately 8x free cash flows). The dividend has increased by an average of 5.0% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 322% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • May 20
Less than half of directors are independent There are 7 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: 7 new directors. 5 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Vice Chairman Dan Nie is the most experienced director on the board, commencing their role in 2019. Independent Director Ying Pan was the last independent director to join the board, commencing their role in 2023. 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. Annonce • Apr 29
Fulin Precision Co., Ltd., Annual General Meeting, May 19, 2026 Fulin Precision Co., Ltd., Annual General Meeting, May 19, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Mianyang, Sichuan China Annonce • Mar 31
Fulin Precision Co., Ltd. to Report Q1, 2026 Results on Apr 29, 2026 Fulin Precision Co., Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026 Annonce • Dec 31
Fulin Precision Co., Ltd. to Report Fiscal Year 2025 Results on Apr 29, 2026 Fulin Precision Co., Ltd. announced that they will report fiscal year 2025 results on Apr 29, 2026 Annonce • Sep 30
Fulin Precision Co., Ltd. to Report Q3, 2025 Results on Oct 29, 2025 Fulin Precision Co., Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 Annonce • Jul 02
Fulin Precision Co., Ltd. to Report First Half, 2025 Results on Aug 26, 2025 Fulin Precision Co., Ltd. announced that they will report first half, 2025 results on Aug 26, 2025 Annonce • Apr 29
Fulin Precision Co., Ltd., Annual General Meeting, May 19, 2025 Fulin Precision Co., Ltd., Annual General Meeting, May 19, 2025, at 14:30 China Standard Time. Annonce • Mar 31
Fulin Precision Co., Ltd. to Report Q1, 2025 Results on Apr 25, 2025 Fulin Precision Co., Ltd. announced that they will report Q1, 2025 results on Apr 25, 2025 Annonce • Dec 31
Fulin Precision Co., Ltd. to Report Fiscal Year 2024 Results on Apr 17, 2025 Fulin Precision Co., Ltd. announced that they will report fiscal year 2024 results on Apr 17, 2025 Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.15 (vs CN¥0.065 loss in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.15 (up from CN¥0.065 loss in 3Q 2023). Revenue: CN¥2.29b (up 23% from 3Q 2023). Net income: CN¥178.9m (up CN¥257.9m from 3Q 2023). Profit margin: 7.8% (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 49 percentage points per year, which is a significant difference in performance. New Risk • Sep 30
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 7.7% 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. Annonce • Sep 30
Mianyang Fulin Precision Co.,Ltd. to Report Q3, 2024 Results on Oct 30, 2024 Mianyang Fulin Precision Co.,Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Reported Earnings • Aug 24
Second quarter 2024 earnings released: EPS: CN¥0.075 (vs CN¥0.16 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.075 (down from CN¥0.16 in 2Q 2023). Revenue: CN¥2.10b (up 31% from 2Q 2023). Net income: CN¥92.1m (down 54% from 2Q 2023). Profit margin: 4.4% (down from 13% in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 40 percentage points per year, which is a significant difference in performance. Annonce • Aug 13
Mianyang Fulin Precision Co.,Ltd. (SZSE:300432) agreed to acquire 40% stake in Jiangxi Shenghua New Materials Co., Ltd. from Contemporary Amperex Technology Co., Limited (SZSE:300750) and Changjiang Chendao (Hubei) New Energy Industrial Investment Partnership Enterprise (Limited Partners) for approximately CNY 390 million. Mianyang Fulin Precision Co.,Ltd. (SZSE:300432) agreed to acquire 40% stake in Jiangxi Shenghua New Materials Co., Ltd. from Contemporary Amperex Technology Co., Limited (SZSE:300750) and Changjiang Chendao (Hubei) New Energy Industrial Investment Partnership Enterprise (Limited Partners) for approximately CNY 390 million on August 12, 2024. As of March 31, 2024, Jiangxi Shenghua New Materials Co., Ltd. reported total assets of CNY 4.18 billion and total common equity of CNY 347.96 million. Annonce • Jun 29
Mianyang Fulin Precision Co.,Ltd. to Report First Half, 2024 Results on Aug 24, 2024 Mianyang Fulin Precision Co.,Ltd. announced that they will report first half, 2024 results on Aug 24, 2024 Annonce • Apr 29
Mianyang Fulin Precision Co.,Ltd., Annual General Meeting, May 20, 2024 Mianyang Fulin Precision Co.,Ltd., Annual General Meeting, May 20, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Mianyang, Sichuan China Reported Earnings • Apr 28
First quarter 2024 earnings released: EPS: CN¥0.033 (vs CN¥0.43 loss in 1Q 2023) First quarter 2024 results: EPS: CN¥0.033 (up from CN¥0.43 loss in 1Q 2023). Revenue: CN¥1.50b (up 106% from 1Q 2023). Net income: CN¥39.7m (up CN¥561.7m from 1Q 2023). Profit margin: 2.7% (up from net loss in 1Q 2023). Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Auto Components industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Annonce • Mar 30
Mianyang Fulin Precision Co.,Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Mianyang Fulin Precision Co.,Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Annonce • Dec 29
Mianyang Fulin Precision Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 23, 2024 Mianyang Fulin Precision Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 23, 2024 New Risk • Nov 30
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 8.1% 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 Risks Share price has been highly volatile over the past 3 months (8.1% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Reported Earnings • Nov 02
Third quarter 2023 earnings released: CN¥0.065 loss per share (vs CN¥0.20 profit in 3Q 2022) Third quarter 2023 results: CN¥0.065 loss per share (down from CN¥0.20 profit in 3Q 2022). Revenue: CN¥1.86b (down 8.4% from 3Q 2022). Net loss: CN¥79.0m (down 132% from profit in 3Q 2022). Revenue is forecast to grow 46% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Annonce • Sep 30
Mianyang Fulin Precision Co.,Ltd. to Report Q3, 2023 Results on Oct 31, 2023 Mianyang Fulin Precision Co.,Ltd. announced that they will report Q3, 2023 results on Oct 31, 2023 Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: CN¥0.16 (vs CN¥0.12 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.16 (up from CN¥0.12 in 2Q 2022). Revenue: CN¥1.60b (up 53% from 2Q 2022). Net income: CN¥199.0m (up 39% from 2Q 2022). Profit margin: 13% (down from 14% in 2Q 2022). Revenue is forecast to grow 42% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Annonce • Jul 23
Mianyang Fulin Precision Co.,Ltd. Approves Management Appointments Mianyang Fulin Precision Co.,Ltd. announced at the EGM held on July 20, 2023, approved election of Wang Zhihong and Wang Mingrui as non-independent directors; Pan Ying, Bu Danlu and Xiao Shide as independent directors and Hu Guoying and Liu Jian as shareholder supervisors. Annonce • Jul 01
Mianyang Fulin Precision Co.,Ltd. to Report First Half, 2023 Results on Aug 19, 2023 Mianyang Fulin Precision Co.,Ltd. announced that they will report first half, 2023 results on Aug 19, 2023 Annonce • May 24
Mianyang Fulin Precision Co.,Ltd. Implements Final Dividend (A Shares) for 2022, Payable on 30 May 2023 Mianyang Fulin Precision Co.,Ltd. implemented (A shares) final cash dividend of CNY 2.00000000 per 10 shares (tax included) for 2022. Record date is 29 May 2023. Ex-date is 30 May 2023. Payment date is 30 May 2023. Annonce • May 19
Mianyang Fulin Precision Co.,Ltd. Approves Final Cash Dividend for the Year of 2022 Mianyang Fulin Precision Co.,Ltd. at its AGM held on May 15, 2023, approved final cash dividend of CNY 2.00000000 per ten shares for the year of 2022. Reported Earnings • Apr 26
First quarter 2023 earnings released: CN¥0.43 loss per share (vs CN¥0.19 profit in 1Q 2022) First quarter 2023 results: CN¥0.43 loss per share (down from CN¥0.19 profit in 1Q 2022). Revenue: CN¥724.9m (down 56% from 1Q 2022). Net loss: CN¥522.0m (down 347% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥16.52, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 26x in the Auto Components industry in China. Total returns to shareholders of 487% over the past three years. Reported Earnings • Oct 29
Third quarter 2022 earnings released: EPS: CN¥0.20 (vs CN¥0.07 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.20 (up from CN¥0.07 in 3Q 2021). Revenue: CN¥2.03b (up 221% from 3Q 2021). Net income: CN¥245.8m (up 214% from 3Q 2021). Profit margin: 12% (in line with 3Q 2021). Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has increased by 76% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 31
Second quarter 2022 earnings released: EPS: CN¥0.12 (vs CN¥0.053 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.12 (up from CN¥0.053 in 2Q 2021). Revenue: CN¥1.04b (up 93% from 2Q 2021). Net income: CN¥142.9m (up 141% from 2Q 2021). Profit margin: 14% (up from 11% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has increased by 91% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥19.39, the stock trades at a trailing P/E ratio of 46.3x. Average trailing P/E is 45x in the Auto Components industry in China. Total returns to shareholders of 639% over the past three years. Board Change • May 28
Insufficient new directors 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. Non-Independent Director Jian Sheng Peng was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Valuation Update With 7 Day Price Move • May 03
Investor sentiment improved over the past week After last week's 33% share price gain to CN¥19.90, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 21x in the Auto Components industry in China. Total returns to shareholders of 405% over the past three years. Reported Earnings • Apr 27
First quarter 2022 earnings released: EPS: CN¥0.29 (vs CN¥0.14 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.29 (up from CN¥0.14 in 1Q 2021). Revenue: CN¥1.65b (up 212% from 1Q 2021). Net income: CN¥211.1m (up 109% from 1Q 2021). Profit margin: 13% (down from 19% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 63%, compared to a 32% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.10 (vs CN¥0.15 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¥632.1m (up 33% from 3Q 2020). Net income: CN¥78.2m (down 28% from 3Q 2020). Profit margin: 12% (down from 23% 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 84% per year but the company’s share price has increased by 141% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment deteriorated over the past week After last week's 23% share price decline to CN¥36.84, the stock trades at a forward P/E ratio of 54x. Average forward P/E is 18x in the Auto Components industry in China. Total returns to shareholders of 740% over the past three years. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥36.37, the stock trades at a forward P/E ratio of 54x. Average forward P/E is 21x in the Auto Components industry in China. Total returns to shareholders of 734% over the past three years. Reported Earnings • Aug 30
Second quarter 2021 earnings released: EPS CN¥0.08 (vs CN¥0.099 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¥540.2m (up 36% from 2Q 2020). Net income: CN¥59.3m (down 4.9% from 2Q 2020). Profit margin: 11% (down from 16% 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 66% per year but the company’s share price has increased by 112% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 10
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥33.49, the stock trades at a trailing P/E ratio of 69.5x. Average trailing P/E is 31x in the Auto Components industry in China. Total returns to shareholders of 628% over the past three years. Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment improved over the past week After last week's 30% share price gain to CN¥28.86, the stock trades at a forward P/E ratio of 48x. Average forward P/E is 21x in the Auto Components industry in China. Total returns to shareholders of 436% over the past three years. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥16.27, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 20x in the Auto Components industry in China. Total returns to shareholders of 224% over the past three years. Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥12.10, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 20x in the Auto Components industry in China. Total returns to shareholders of 103% over the past three years. Reported Earnings • Apr 28
First quarter 2021 earnings released: EPS CN¥0.14 (vs CN¥0.098 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¥529.8m (up 55% from 1Q 2020). Net income: CN¥101.1m (up 22% from 1Q 2020). Profit margin: 19% (down from 24% 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 45% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 11
New 90-day low: CN¥9.61 The company is down 4.0% from its price of CN¥10.02 on 13 November 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 1.0% over the same period. Reported Earnings • Feb 07
Full year 2020 earnings released: EPS CN¥0.45 (vs CN¥0.63 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: CN¥1.83b (up 21% from FY 2019). Net income: CN¥330.7m (down 36% from FY 2019). Profit margin: 18% (down from 34% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 07
Revenue beats expectations Revenue exceeded analyst estimates by 1.4%. Over the next year, revenue is forecast to grow 40%, compared to a 23% growth forecast for the Auto Components industry in China. Is New 90 Day High Low • Jan 11
New 90-day high: CN¥12.18 The company is up 12% from its price of CN¥10.86 on 14 October 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 3.0% over the same period. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥11.93, the stock is trading at a trailing P/E ratio of 15.9x, up from the previous P/E ratio of 13.6x. This compares to an average P/E of 33x in the Auto Components industry in China. Total returns to shareholders over the past three years are 14%. Valuation Update With 7 Day Price Move • Nov 18
Market bids up stock over the past week After last week's 18% share price gain to CN¥11.74, the stock is trading at a trailing P/E ratio of 15.7x, up from the previous P/E ratio of 13.4x. This compares to an average P/E of 40x in the Auto Components industry in China. Total returns to shareholders over the past three years are 4.3%. Valuation Update With 7 Day Price Move • Nov 12
Market pulls back on stock over the past week After last week's 17% share price decline to CN¥9.80, the stock is trading at a trailing P/E ratio of 13x, down from the previous P/E ratio of 15.7x. This compares to an average P/E of 39x in the Auto Components industry in China. Total return to shareholders over the past three years is a loss of 18%. 
