Valuation Update With 7 Day Price Move • May 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥36.98, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 30x in the Machinery industry in China. Total returns to shareholders of 255% over the past three years. Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Xijun Liu was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Apr 13
Moon Environment Technology Co.,Ltd., Annual General Meeting, May 12, 2026 Moon Environment Technology Co.,Ltd., Annual General Meeting, May 12, 2026, at 14:45 China Standard Time. Location: The Company's Meeting Room, Yantai, Shandong China Annonce • Mar 31
Moon Environment Technology Co.,Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Moon Environment Technology Co.,Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Annonce • Dec 31
Moon Environment Technology Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 11, 2026 Moon Environment Technology Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 11, 2026 Annonce • Sep 30
Moon Environment Technology Co.,Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Moon Environment Technology Co.,Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Annonce • Jul 02
Moon Environment Technology Co.,Ltd. to Report First Half, 2025 Results on Aug 21, 2025 Moon Environment Technology Co.,Ltd. announced that they will report first half, 2025 results on Aug 21, 2025 Annonce • Apr 18
Moon Environment Technology Co.,Ltd. Proposes Final Cash Dividend for 2024 Moon Environment Technology Co.,Ltd. announced on 17 April 2025 the profit distribution proposal for 2024 as follows: Final cash dividend per 10 shares (tax included) of CNY 1.50000000. Annonce • Apr 17
Moon Environment Technology Co.,Ltd., Annual General Meeting, May 13, 2025 Moon Environment Technology Co.,Ltd., Annual General Meeting, May 13, 2025, at 14:45 China Standard Time. Location: The Company's Meeting Room, Yantai, Shandong China Annonce • Mar 31
Moon Environment Technology Co.,Ltd. to Report Q1, 2025 Results on Apr 30, 2025 Moon Environment Technology Co.,Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Annonce • Dec 31
Moon Environment Technology Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 17, 2025 Moon Environment Technology Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 17, 2025 Annonce • Dec 26
Moon Environment Technology Co.,Ltd. Approves Cash Dividend for the Third Quarter of 2024 Moon Environment Technology Co.,Ltd. at its Extraordinary General Meeting held on 20 December 2024, approved the cash dividend of CNY 1.00000000 per 10 shares (tax included) for the third quarter of 2024. Annonce • Dec 07
Moon Environment Technology Co.,Ltd. Proposes Cash Dividend for the Third Quarter of 2024 Moon Environment Technology Co.,Ltd. proposed cash dividend of CNY 1.00000000 per 10 shares (tax included) for the third quarter of 2024. Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.20 (vs CN¥0.24 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.20 (down from CN¥0.24 in 3Q 2023). Revenue: CN¥1.61b (down 17% from 3Q 2023). Net income: CN¥142.9m (down 26% from 3Q 2023). Profit margin: 8.9% (down from 10% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. 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¥10.31, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Machinery industry in China. Total returns to shareholders of 3.6% over the past three years. Annonce • Sep 30
Moon Environment Technology Co.,Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Moon Environment Technology Co.,Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Reported Earnings • Aug 21
Second quarter 2024 earnings released: EPS: CN¥0.28 (vs CN¥0.37 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.28 (down from CN¥0.37 in 2Q 2023). Revenue: CN¥1.71b (down 18% from 2Q 2023). Net income: CN¥208.6m (down 21% from 2Q 2023). Profit margin: 12% (in line with 2Q 2023). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Annonce • Jun 29
Moon Environment Technology Co.,Ltd. to Report First Half, 2024 Results on Aug 21, 2024 Moon Environment Technology Co.,Ltd. announced that they will report first half, 2024 results on Aug 21, 2024 Declared Dividend • Jun 20
Dividend reduced to CN¥0.10 Dividend of CN¥0.10 is 50% lower than last year. Ex-date: 26th June 2024 Payment date: 26th June 2024 Dividend yield will be 1.0%, which is lower than the industry average of 2.0%. Sustainability & Growth Dividend is well covered by both earnings (11% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 4.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 47% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • May 17
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Xijun Liu was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • May 11
Moon Environment Technology Co.,Ltd. Approves Cash Dividend for the year 2023 Moon Environment Technology Co.,Ltd. at its AGM held on May 8, 2024 approved the profit distribution as cash dividend/10 shares (tax included): CNY 1.00000000. for the year 2023. Reported Earnings • Apr 27
First quarter 2024 earnings released: EPS: CN¥0.16 (vs CN¥0.14 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.16 (up from CN¥0.14 in 1Q 2023). Revenue: CN¥1.64b (up 4.5% from 1Q 2023). Net income: CN¥122.5m (up 14% from 1Q 2023). Profit margin: 7.5% (up from 6.9% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Annonce • Mar 30
Moon Environment Technology Co.,Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Moon Environment Technology Co.,Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Annonce • Mar 28
Moon Environment Technology Co.,Ltd., Annual General Meeting, May 08, 2024 Moon Environment Technology Co.,Ltd., Annual General Meeting, May 08, 2024, at 14:45 China Standard Time. Location: The Company's Meeting Room, Yantai, Shandong China Reported Earnings • Mar 28
Full year 2023 earnings released: EPS: CN¥0.88 (vs CN¥0.57 in FY 2022) Full year 2023 results: EPS: CN¥0.88 (up from CN¥0.57 in FY 2022). Revenue: CN¥7.50b (up 23% from FY 2022). Net income: CN¥654.6m (up 54% from FY 2022). Profit margin: 8.7% (up from 7.0% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has increased by 37% 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 • Feb 01
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥10.45, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Machinery industry in China. Total returns to shareholders of 70% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥18.85 per share. Annonce • Dec 29
Moon Environment Technology Co.,Ltd. to Report Fiscal Year 2023 Results on Mar 28, 2024 Moon Environment Technology Co.,Ltd. announced that they will report fiscal year 2023 results on Mar 28, 2024 Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: CN¥0.24 (vs CN¥0.20 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.24 (up from CN¥0.20 in 3Q 2022). Revenue: CN¥1.92b (up 15% from 3Q 2022). Net income: CN¥193.5m (up 29% from 3Q 2022). Profit margin: 10% (up from 9.0% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 30% per year. Annonce • Sep 30
Moon Environment Technology Co.,Ltd. to Report Q3, 2023 Results on Oct 28, 2023 Moon Environment Technology Co.,Ltd. announced that they will report Q3, 2023 results at 3:00 PM, China Standard Time on Oct 28, 2023 New Risk • Sep 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. 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. Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: CN¥0.37 (vs CN¥0.17 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.37 (up from CN¥0.17 in 2Q 2022). Revenue: CN¥2.09b (up 52% from 2Q 2022). Net income: CN¥263.8m (up 103% from 2Q 2022). Profit margin: 13% (up from 9.5% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥18.56, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 19x in the Machinery industry in China. Total returns to shareholders of 165% over the past three years. Upcoming Dividend • Jun 21
Upcoming dividend of CN¥0.20 per share at 1.3% yield Eligible shareholders must have bought the stock before 28 June 2023. Payment date: 28 June 2023. Payout ratio is a comfortable 31% but the company is paying out more than the cash it is generating. Trailing yield: 1.3%. Lower than top quartile of Chinese dividend payers (2.0%). Lower than average of industry peers (1.5%). Reported Earnings • Apr 13
Full year 2022 earnings released: EPS: CN¥0.57 (vs CN¥0.40 in FY 2021) Full year 2022 results: EPS: CN¥0.57 (up from CN¥0.40 in FY 2021). Revenue: CN¥6.10b (up 13% from FY 2021). Net income: CN¥425.8m (up 42% from FY 2021). Profit margin: 7.0% (up from 5.6% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 29% per year, which means it is well ahead of earnings. Board Change • Nov 16
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Chairman of the Supervisory Qiang Wang was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥12.18, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 19x in the Machinery industry in China. Total returns to shareholders of 78% over the past three years. Reported Earnings • Oct 29
Third quarter 2022 earnings released: EPS: CN¥0.20 (vs CN¥0.13 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.20 (up from CN¥0.13 in 3Q 2021). Revenue: CN¥1.67b (up 8.1% from 3Q 2021). Net income: CN¥149.6m (up 48% from 3Q 2021). Profit margin: 9.0% (up from 6.6% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Machinery industry in China. 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 14% per year, which means it is well ahead of earnings. Reported Earnings • Aug 28
Second quarter 2022 earnings released: EPS: CN¥0.17 (vs CN¥0.11 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.17 (up from CN¥0.11 in 2Q 2021). Revenue: CN¥1.37b (up 11% from 2Q 2021). Net income: CN¥130.1m (up 66% from 2Q 2021). Profit margin: 9.5% (up from 6.4% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 21%, compared to a 34% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Reported Earnings • May 02
First quarter 2022 earnings released: EPS: CN¥0.07 (vs CN¥0.07 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.07 (vs CN¥0.07 in 1Q 2021). Revenue: CN¥1.26b (up 13% from 1Q 2021). Net income: CN¥49.7m (down 5.0% from 1Q 2021). Profit margin: 4.0% (down from 4.7% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 19%, compared to a 31% growth forecast for the 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 3% per year, which means it is well ahead of earnings. Board Change • Apr 27
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 3 experienced directors. 2 highly experienced directors. Chairman of the Board ZengQun Li is the most experienced director on the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Apr 02
Full year 2021 earnings released: EPS: CN¥0.40 (vs CN¥0.30 in FY 2020) Full year 2021 results: EPS: CN¥0.40 (up from CN¥0.30 in FY 2020). Revenue: CN¥5.38b (up 33% from FY 2020). Net income: CN¥300.8m (up 35% from FY 2020). Profit margin: 5.6% (up from 5.5% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 24%, compared to a 29% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥15.54, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 24x in the Machinery industry in China. Total returns to shareholders of 175% over the past three years. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.13 (vs CN¥0.10 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥1.55b (up 28% from 3Q 2020). Net income: CN¥101.3m (up 33% from 3Q 2020). Profit margin: 6.6% (up from 6.3% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 39% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥12.31, the stock trades at a trailing P/E ratio of 36.1x. Average trailing P/E is 36x in the Machinery industry in China. Total returns to shareholders of 166% over the past three years. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥10.25, the stock trades at a trailing P/E ratio of 30x. Average trailing P/E is 36x in the Machinery industry in China. Total returns to shareholders of 107% over the past three years. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS CN¥0.11 (vs CN¥0.14 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥1.24b (up 28% from 2Q 2020). Net income: CN¥78.6m (down 30% from 2Q 2020). Profit margin: 6.4% (down from 12% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 37% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥13.83, the stock trades at a trailing P/E ratio of 36.1x. Average trailing P/E is 35x in the Machinery industry in China. Total returns to shareholders of 207% over the past three years. Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥11.90, the stock trades at a trailing P/E ratio of 30.7x. Average trailing P/E is 32x in the Machinery industry in China. Total returns to shareholders of 156% over the past three years. Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment improved over the past week After last week's 26% share price gain to CN¥9.54, the stock trades at a trailing P/E ratio of 24.9x. Average trailing P/E is 32x in the Machinery industry in China. Total returns to shareholders of 107% over the past three years. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS CN¥0.07 (vs CN¥0.02 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥1.11b (up 76% from 1Q 2020). Net income: CN¥52.3m (up CN¥66.3m from 1Q 2020). Profit margin: 4.7% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Reported Earnings • Mar 28
Full year 2020 earnings released: EPS CN¥0.30 (vs CN¥0.68 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¥4.04b (up 5.8% from FY 2019). Net income: CN¥222.5m (down 51% from FY 2019). Profit margin: 5.5% (down from 12% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 3% per year. Is New 90 Day High Low • Feb 04
New 90-day low: CN¥6.36 The company is down 2.0% from its price of CN¥6.48 on 06 November 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 3.0% over the same period. Is New 90 Day High Low • Dec 28
New 90-day high: CN¥9.05 The company is up 37% from its price of CN¥6.63 on 30 September 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 9.0% over the same period. Is New 90 Day High Low • Dec 10
New 90-day high: CN¥8.83 The company is up 25% from its price of CN¥7.06 on 11 September 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 8.0% over the same period. Is New 90 Day High Low • Nov 17
New 90-day high: CN¥8.76 The company is up 8.0% from its price of CN¥8.11 on 19 August 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is flat over the same period. Valuation Update With 7 Day Price Move • Nov 14
Market bids up stock over the past week After last week's 20% share price gain to CN¥7.77, the stock is trading at a trailing P/E ratio of 17.4x, up from the previous P/E ratio of 14.5x. This compares to an average P/E of 40x in the Machinery industry in China. Total return to shareholders over the past three years is a loss of 2.3%. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥335.1m, down 12% from the prior year. Total revenue was CN¥3.96b over the last 12 months, up 3.4% from the prior year. Is New 90 Day High Low • Oct 23
New 90-day low: CN¥6.52 The company is down 3.0% from its price of CN¥6.72 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.