Major Estimate Revision • Jul 22
Consensus revenue estimates increase by 13%, EPS downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from CN¥16.8b to CN¥19.0b. EPS estimate fell from CN¥2.08 to CN¥1.99. Net income forecast to grow 45% next year vs 59% growth forecast for Electrical industry in China. Consensus price target down from CN¥70.69 to CN¥64.69. Share price was steady at CN¥39.69 over the past week. Price Target Changed • Jul 21
Price target decreased by 7.5% to CN¥64.69 Down from CN¥69.93, the current price target is an average from 4 analysts. New target price is 57% above last closing price of CN¥41.10. Stock is down 5.0% over the past year. The company is forecast to post earnings per share of CN¥1.99 for next year compared to CN¥1.21 last year. Annonce • Jun 30
Beijing Easpring Material Technology CO.,LTD. to Report First Half, 2026 Results on Aug 26, 2026 Beijing Easpring Material Technology CO.,LTD. announced that they will report first half, 2026 results on Aug 26, 2026 Declared Dividend • May 23
Dividend increased to CN¥0.28 Dividend of CN¥0.28 is 41% higher than last year. Ex-date: 27th May 2026 Payment date: 27th May 2026 Dividend yield will be 0.5%, which is lower than the industry average of 1.6%. Sustainability & Growth Dividend is covered by earnings (19% 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 20% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 101% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 01
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥1.21 (up from CN¥0.93 in FY 2024). Revenue: CN¥10.4b (up 37% from FY 2024). Net income: CN¥632.3m (up 34% from FY 2024). Profit margin: 6.1% (down from 6.2% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 5.3%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. New Risk • Mar 03
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: 0.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.4% net profit margin). Annonce • Dec 31
Beijing Easpring Material Technology CO.,LTD. to Report Fiscal Year 2025 Results on Mar 31, 2026 Beijing Easpring Material Technology CO.,LTD. announced that they will report fiscal year 2025 results on Mar 31, 2026 Valuation Update With 7 Day Price Move • Nov 24
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥57.11, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 22x in the Electrical industry in China. Negligible returns to shareholders over past three years. New Risk • Nov 11
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 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.4% net profit margin). Price Target Changed • Oct 30
Price target increased by 13% to CN¥62.60 Up from CN¥55.63, the current price target is an average from 6 analysts. New target price is 11% below last closing price of CN¥70.00. Stock is up 69% over the past year. The company is forecast to post earnings per share of CN¥1.46 for next year compared to CN¥0.93 last year. Reported Earnings • Oct 25
Third quarter 2025 earnings released: EPS: CN¥0.35 (vs CN¥0.35 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.35 (up from CN¥0.35 in 3Q 2024). Revenue: CN¥2.97b (up 50% from 3Q 2024). Net income: CN¥191.6m (up 8.0% from 3Q 2024). Profit margin: 6.5% (down from 8.9% in 3Q 2024). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Annonce • Sep 30
Beijing Easpring Material Technology CO.,LTD. to Report Q3, 2025 Results on Oct 27, 2025 Beijing Easpring Material Technology CO.,LTD. announced that they will report Q3, 2025 results on Oct 27, 2025 Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥55.59, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 22x in the Electrical industry in China. Total loss to shareholders of 20% over the past three years. Price Target Changed • Sep 09
Price target increased by 9.5% to CN¥51.46 Up from CN¥47.01, the current price target is an average from 6 analysts. New target price is 7.1% below last closing price of CN¥55.37. Stock is up 78% over the past year. The company is forecast to post earnings per share of CN¥1.50 for next year compared to CN¥0.93 last year. Price Target Changed • Sep 05
Price target increased by 8.6% to CN¥49.55 Up from CN¥45.61, the current price target is an average from 5 analysts. New target price is 7.9% below last closing price of CN¥53.83. Stock is up 65% over the past year. The company is forecast to post earnings per share of CN¥1.55 for next year compared to CN¥0.93 last year. Reported Earnings • Aug 28
Second quarter 2025 earnings released: EPS: CN¥0.40 (vs CN¥0.35 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.40 (up from CN¥0.35 in 2Q 2024). Revenue: CN¥2.52b (up 25% from 2Q 2024). Net income: CN¥200.5m (up 14% from 2Q 2024). Profit margin: 7.9% (down from 8.7% in 2Q 2024). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Price Target Changed • Aug 13
Price target increased by 7.3% to CN¥45.61 Up from CN¥42.51, the current price target is an average from 5 analysts. New target price is 7.8% above last closing price of CN¥42.31. Stock is up 50% over the past year. The company is forecast to post earnings per share of CN¥1.44 for next year compared to CN¥0.93 last year. New Risk • Jul 31
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 0.5% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.9% net profit margin). Annonce • Jul 02
Beijing Easpring Material Technology CO.,LTD. to Report First Half, 2025 Results on Aug 27, 2025 Beijing Easpring Material Technology CO.,LTD. announced that they will report first half, 2025 results on Aug 27, 2025 Annonce • May 13
Beijing Easpring Material Technology CO.,LTD. Approves Cash Dividend for the Year 2024 Beijing Easpring Material Technology CO.,LTD. at its Annual General Meeting held on 09 May 2025, approved cash dividend/10 shares (tax included) of CNY 2.00000000 for the year 2024. Major Estimate Revision • May 01
Consensus revenue estimates fall by 11% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥11.8b to CN¥10.6b. EPS estimate fell from CN¥1.84 to CN¥1.51 per share. Net income forecast to grow 78% next year vs 44% growth forecast for Electrical industry in China. Consensus price target broadly unchanged at CN¥43.81. Share price was steady at CN¥37.87 over the past week. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥34.81, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 19x in the Electrical industry in China. Total loss to shareholders of 48% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥19.76 per share. New Risk • Apr 04
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 39% 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 Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.2% net profit margin). Price Target Changed • Apr 02
Price target increased by 7.1% to CN¥43.32 Up from CN¥40.43, the current price target is an average from 5 analysts. New target price is 5.1% above last closing price of CN¥41.20. Stock is down 2.1% over the past year. The company is forecast to post earnings per share of CN¥1.75 for next year compared to CN¥0.93 last year. Annonce • Apr 02
Beijing Easpring Material Technology Co.,Ltd. Proposes Final Cash Dividend for Year 2024 Beijing Easpring Material Technology CO.,LTD. proposed final Cash dividend/10 shares (tax included): CNY 2.00000000 for year 2024. Reported Earnings • Apr 01
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: CN¥0.93 (down from CN¥3.80 in FY 2023). Revenue: CN¥7.59b (down 50% from FY 2023). Net income: CN¥471.8m (down 76% from FY 2023). Profit margin: 6.2% (down from 13% in FY 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 18% per year. Annonce • Apr 01
Beijing Easpring Material Technology CO.,LTD., Annual General Meeting, May 09, 2025 Beijing Easpring Material Technology CO.,LTD., Annual General Meeting, May 09, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Beijing China Annonce • Mar 31
Beijing Easpring Material Technology CO.,LTD. to Report Q1, 2025 Results on Apr 25, 2025 Beijing Easpring Material Technology CO.,LTD. announced that they will report Q1, 2025 results on Apr 25, 2025 Annonce • Mar 11
Beijing Easpring Material Technology CO.,LTD. announced that it has received CNY 1 billion in funding from BGRIMM Technology Group Co., Ltd. On March 10, 2025. Beijing Easpring Material Technology CO.,LTD. has closed the transaction. Major Estimate Revision • Feb 27
Consensus EPS estimates fall by 15% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from CN¥1.28 to CN¥1.10 per share. Revenue forecast steady at CN¥7.74b. Net income forecast to shrink 11% next year vs 39% growth forecast for Electrical industry in China . Consensus price target down from CN¥41.58 to CN¥40.43. Share price rose 4.4% to CN¥45.25 over the past week. Annonce • Dec 31
Beijing Easpring Material Technology CO.,LTD. to Report Fiscal Year 2024 Results on Apr 01, 2025 Beijing Easpring Material Technology CO.,LTD. announced that they will report fiscal year 2024 results on Apr 01, 2025 Buy Or Sell Opportunity • Nov 21
Now 21% undervalued Over the last 90 days, the stock has risen 73% to CN¥48.89. The fair value is estimated to be CN¥61.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.9% over the last 3 years. Earnings per share has grown by 3.2%. Revenue is forecast to grow by 69% in 2 years. Earnings are forecast to grow by 45% in the next 2 years. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥49.38, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 19x in the Electrical industry in China. Total loss to shareholders of 46% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥52.66 per share. Major Estimate Revision • Nov 01
Consensus revenue estimates fall by 16% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥8.91b to CN¥7.47b. EPS estimate fell from CN¥1.38 to CN¥1.17 per share. Net income forecast to grow 11% next year vs 55% growth forecast for Electrical industry in China. Consensus price target up from CN¥36.62 to CN¥41.37. Share price fell 4.3% to CN¥42.59 over the past week. Price Target Changed • Oct 29
Price target increased by 11% to CN¥40.65 Up from CN¥36.62, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of CN¥42.08. Stock is down 4.5% over the past year. The company is forecast to post earnings per share of CN¥1.17 for next year compared to CN¥3.80 last year. Reported Earnings • Oct 26
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: CN¥0.35 (down from CN¥1.12 in 3Q 2023). Revenue: CN¥1.98b (down 52% from 3Q 2023). Net income: CN¥177.4m (down 69% from 3Q 2023). Profit margin: 8.9% (down from 14% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 49%. Earnings per share (EPS) also missed analyst estimates by 4.1%. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Oct 24
Now 24% undervalued Over the last 90 days, the stock has risen 41% to CN¥42.83. The fair value is estimated to be CN¥56.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 18%. Revenue is forecast to grow by 37% in 2 years. Earnings are forecast to grow by 5.4% in the next 2 years. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CN¥40.97, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 18x in the Electrical industry in China. Total loss to shareholders of 48% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥56.44 per share. Buy Or Sell Opportunity • Oct 09
Now 22% undervalued Over the last 90 days, the stock has risen 36% to CN¥44.18. The fair value is estimated to be CN¥56.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 18%. Revenue is forecast to grow by 37% in 2 years. Earnings are forecast to grow by 5.4% in the next 2 years. Annonce • Sep 30
Beijing Easpring Material Technology CO.,LTD. to Report Q3, 2024 Results on Oct 28, 2024 Beijing Easpring Material Technology CO.,LTD. announced that they will report Q3, 2024 results on Oct 28, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥36.12, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 16x in the Electrical industry in China. Total loss to shareholders of 54% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥56.39 per share. Major Estimate Revision • Aug 30
Consensus revenue estimates fall by 11% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥10.8b to CN¥9.55b. EPS estimate fell from CN¥1.63 to CN¥1.39 per share. Net income forecast to shrink 25% next year vs 43% growth forecast for Electrical industry in China . Consensus price target down from CN¥38.57 to CN¥36.48. Share price rose 7.6% to CN¥30.46 over the past week. Price Target Changed • Aug 28
Price target decreased by 13% to CN¥35.48 Down from CN¥40.99, the current price target is an average from 7 analysts. New target price is 23% above last closing price of CN¥28.80. Stock is down 35% over the past year. The company is forecast to post earnings per share of CN¥2.00 for next year compared to CN¥3.80 last year. Reported Earnings • Aug 24
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: EPS: CN¥0.35 (down from CN¥0.98 in 2Q 2023). Revenue: CN¥2.02b (down 45% from 2Q 2023). Net income: CN¥176.5m (down 64% from 2Q 2023). Profit margin: 8.7% (down from 13% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) exceeded analyst estimates by 83%. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Price Target Changed • Aug 13
Price target decreased by 11% to CN¥38.57 Down from CN¥43.42, the current price target is an average from 7 analysts. New target price is 34% above last closing price of CN¥28.82. Stock is down 37% over the past year. The company is forecast to post earnings per share of CN¥1.63 for next year compared to CN¥3.80 last year. Annonce • Jun 29
Beijing Easpring Material Technology CO.,LTD. to Report First Half, 2024 Results on Aug 28, 2024 Beijing Easpring Material Technology CO.,LTD. announced that they will report first half, 2024 results on Aug 28, 2024 Price Target Changed • Jun 13
Price target decreased by 7.2% to CN¥42.60 Down from CN¥45.88, the current price target is an average from 7 analysts. New target price is 15% above last closing price of CN¥37.08. Stock is down 26% over the past year. The company is forecast to post earnings per share of CN¥1.72 for next year compared to CN¥3.80 last year. Buy Or Sell Opportunity • May 24
Now 23% undervalued Over the last 90 days, the stock has risen 18% to CN¥39.46. The fair value is estimated to be CN¥51.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 49% in 2 years. Earnings are forecast to grow by 4.1% in the next 2 years. Reported Earnings • Apr 26
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: CN¥0.22 (down from CN¥0.85 in 1Q 2023). Revenue: CN¥1.52b (down 68% from 1Q 2023). Net income: CN¥110.4m (down 74% from 1Q 2023). Profit margin: 7.3% (down from 9.2% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 34%. Earnings per share (EPS) also missed analyst estimates by 48%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Major Estimate Revision • Apr 25
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥16.5b to CN¥16.1b. EPS estimate also fell from CN¥1.99 per share to CN¥1.75 per share. Net income forecast to shrink 60% next year vs 40% growth forecast for Electrical industry in China . Consensus price target up from CN¥44.20 to CN¥45.58. Share price fell 9.5% to CN¥46.38 over the past week. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥44.23, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 16x in the Electrical industry in China. Total loss to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥44.91 per share. New Risk • Apr 09
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 10% 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 (38% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (10% average weekly change). Major Estimate Revision • Apr 05
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥19.1b to CN¥16.5b. EPS estimate fell from CN¥4.22 to CN¥2.20 per share. Net income forecast to shrink 42% next year vs 47% growth forecast for Electrical industry in China . Consensus price target broadly unchanged at CN¥46.58. Share price rose 7.4% to CN¥42.10 over the past week. Annonce • Apr 03
Beijing Easpring Material Technology Co.,Ltd. Proposes Final Cash Dividend for the Year 2023 Beijing Easpring Material Technology CO.,LTD. announced on 01 April 2024 the profit distribution proposal of final cash dividend per ten shares (tax included) of CNY 7.52000000 for the year 2023. Reported Earnings • Mar 31
Full year 2023 earnings: EPS in line with expectations, revenues disappoint Full year 2023 results: EPS: CN¥3.80 (down from CN¥4.46 in FY 2022). Revenue: CN¥15.1b (down 29% from FY 2022). Net income: CN¥1.92b (down 15% from FY 2022). Profit margin: 13% (up from 11% in FY 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 6.3%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electrical industry in China. 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 7% per year, which means it is significantly lagging earnings. Annonce • Mar 30
Beijing Easpring Material Technology CO.,LTD. to Report Q1, 2024 Results on Apr 25, 2024 Beijing Easpring Material Technology CO.,LTD. announced that they will report Q1, 2024 results on Apr 25, 2024 Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥39.21, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 16x in the Electrical industry in China. Total loss to shareholders of 17% over the past three years. Price Target Changed • Mar 21
Price target decreased by 12% to CN¥47.35 Down from CN¥53.91, the current price target is an average from 9 analysts. New target price is 34% above last closing price of CN¥35.33. Stock is down 38% over the past year. The company is forecast to post earnings per share of CN¥3.79 for next year compared to CN¥4.46 last year. Price Target Changed • Feb 23
Price target decreased by 9.0% to CN¥53.91 Down from CN¥59.27, the current price target is an average from 9 analysts. New target price is 61% above last closing price of CN¥33.50. Stock is down 44% over the past year. The company is forecast to post earnings per share of CN¥4.14 for next year compared to CN¥4.46 last year. Annonce • Feb 08
Beijing Easpring Material Technology CO.,LTD. announced that it expects to receive CNY 1 billion in funding Beijing Easpring Material Technology CO.,LTD. announced that it will issue CNY 1,000,0000,000 on February 7, 2024. The company issued common shares in the transaction. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥29.69, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 13x in the Electrical industry in China. Total loss to shareholders of 44% over the past three years. Price Target Changed • Jan 19
Price target decreased by 8.0% to CN¥55.91 Down from CN¥60.74, the current price target is an average from 9 analysts. New target price is 51% above last closing price of CN¥37.01. Stock is down 43% over the past year. The company is forecast to post earnings per share of CN¥4.18 for next year compared to CN¥4.46 last year. Annonce • Dec 30
Beijing Easpring Material Technology CO.,LTD. to Report Fiscal Year 2023 Results on Mar 30, 2024 Beijing Easpring Material Technology CO.,LTD. announced that they will report fiscal year 2023 results on Mar 30, 2024 Reported Earnings • Oct 25
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: CN¥1.12 (up from CN¥1.12 in 3Q 2022). Revenue: CN¥4.14b (down 17% from 3Q 2022). Net income: CN¥566.0m (flat on 3Q 2022). Profit margin: 14% (up from 11% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 20%. Earnings per share (EPS) also missed analyst estimates by 19%. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Price Target Changed • Sep 05
Price target decreased by 8.0% to CN¥65.61 Down from CN¥71.31, the current price target is an average from 8 analysts. New target price is 48% above last closing price of CN¥44.27. Stock is down 43% over the past year. The company is forecast to post earnings per share of CN¥4.30 for next year compared to CN¥4.46 last year. Price Target Changed • Jul 31
Price target decreased by 13% to CN¥71.31 Down from CN¥82.16, the current price target is an average from 8 analysts. New target price is 44% above last closing price of CN¥49.36. Stock is down 50% over the past year. The company is forecast to post earnings per share of CN¥4.26 for next year compared to CN¥4.46 last year. Upcoming Dividend • Jun 22
Upcoming dividend of CN¥0.67 per share at 1.4% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 29 June 2023. Payout ratio is a comfortable 15% but the company is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Chinese dividend payers (2.0%). Higher than average of industry peers (1.0%). Annonce • Jun 21
Beijing Easpring Material Technology Co.,Ltd. Announces Cash Dividend (Tax Included) (A Shares) for the Year 2022, Payable on 29 June 2023 Beijing Easpring Material Technology CO.,LTD. announced cash dividend (tax included) (A shares)for the year 2022 of CNY 6.68000000 per 10 shares. The dividend will be payable on 29 June 2023 with Record date of 28 June 2023 and Ex-date of 29 June 2023. Price Target Changed • May 17
Price target decreased by 8.2% to CN¥84.16 Down from CN¥91.72, the current price target is an average from 9 analysts. New target price is 56% above last closing price of CN¥54.10. Stock is down 22% over the past year. The company is forecast to post earnings per share of CN¥4.36 for next year compared to CN¥4.46 last year. Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: CN¥4.46 (vs CN¥2.38 in FY 2021) Full year 2022 results: EPS: CN¥4.46 (up from CN¥2.38 in FY 2021). Revenue: CN¥21.3b (up 158% from FY 2021). Net income: CN¥2.26b (up 107% from FY 2021). Profit margin: 11% (down from 13% in FY 2021). 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 26% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 16
Price target decreased to CN¥101 Down from CN¥112, the current price target is an average from 8 analysts. New target price is 61% above last closing price of CN¥62.50. Stock is down 33% over the past year. The company is forecast to post earnings per share of CN¥3.67 for next year compared to CN¥2.38 last year. Board Change • Nov 16
High number of new and inexperienced directors There are 11 new directors who have joined the board in the last 3 years. The company's board is composed of: 11 new directors. 1 experienced director. No highly experienced directors. Employee Supervisor Guoping Sun is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Major Estimate Revision • Oct 30
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from CN¥21.8b to CN¥19.6b. EPS estimate rose from CN¥3.58 to CN¥4.10. Net income forecast to grow 25% next year vs 60% growth forecast for Electrical industry in China. Consensus price target down from CN¥112 to CN¥101. Share price fell 9.6% to CN¥58.11 over the past week. Price Target Changed • Oct 26
Price target decreased to CN¥104 Down from CN¥112, the current price target is an average from 8 analysts. New target price is 67% above last closing price of CN¥62.46. Stock is down 27% over the past year. The company is forecast to post earnings per share of CN¥3.67 for next year compared to CN¥2.38 last year. Reported Earnings • Oct 25
Third quarter 2022 earnings: EPS exceeds analyst expectations Third quarter 2022 results: EPS: CN¥1.12 (up from CN¥0.62 in 3Q 2021). Revenue: CN¥4.97b (up 128% from 3Q 2021). Net income: CN¥565.9m (up 102% from 3Q 2021). Profit margin: 11% (down from 13% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 26% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth.