New Risk • Jul 09
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 11% 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 Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 64% per year over the past 5 years. Annonce • Jun 30
Highbroad Advanced Material (Hefei) Co., Ltd. to Report First Half, 2026 Results on Aug 22, 2026 Highbroad Advanced Material (Hefei) Co., Ltd. announced that they will report first half, 2026 results on Aug 22, 2026 Annonce • May 15
Highbroad Advanced Material (Hefei) Co., Ltd., Annual General Meeting, Jun 10, 2026 Highbroad Advanced Material (Hefei) Co., Ltd., Annual General Meeting, Jun 10, 2026, at 14:30 China Standard Time. Location: No. 699, Dayu Road, Xinzhan District, Hefei, Anhui China Reported Earnings • Apr 25
First quarter 2026 earnings released: EPS: CN¥0.027 (vs CN¥0.19 loss in 1Q 2025) First quarter 2026 results: EPS: CN¥0.027 (up from CN¥0.19 loss in 1Q 2025). Revenue: CN¥926.7m (up 27% from 1Q 2025). Net income: CN¥4.61m (up CN¥40.6m from 1Q 2025). Profit margin: 0.5% (up from net loss in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Annonce • Mar 31
Highbroad Advanced Material (Hefei) Co., Ltd. to Report Q1, 2026 Results on Apr 25, 2026 Highbroad Advanced Material (Hefei) Co., Ltd. announced that they will report Q1, 2026 results on Apr 25, 2026 New Risk • Feb 19
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 9.7% 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 (9.7% average weekly change). Earnings have declined by 68% per year over the past 5 years. Minor Risk High level of debt (95% net debt to equity). New Risk • Jan 14
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 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 68% per year over the past 5 years. Minor Risks High level of debt (95% net debt to equity). Share price has been volatile over the past 3 months (7.4% average weekly change). Annonce • Dec 31
Highbroad Advanced Material (Hefei) Co., Ltd. to Report Fiscal Year 2025 Results on Apr 25, 2026 Highbroad Advanced Material (Hefei) Co., Ltd. announced that they will report fiscal year 2025 results on Apr 25, 2026 Board Change • Dec 13
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. 4 non-independent directors. Independent Director Xiao Guang Gu was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 27
Third quarter 2025 earnings released: EPS: CN¥0.081 (vs CN¥0.19 loss in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.081 (up from CN¥0.19 loss in 3Q 2024). Revenue: CN¥869.7m (up 33% from 3Q 2024). Net income: CN¥17.7m (up CN¥50.8m from 3Q 2024). Profit margin: 2.0% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Annonce • Sep 30
Highbroad Advanced Material (Hefei) Co., Ltd. to Report Q3, 2025 Results on Oct 27, 2025 Highbroad Advanced Material (Hefei) Co., Ltd. announced that they will report Q3, 2025 results on Oct 27, 2025 Reported Earnings • Aug 25
Second quarter 2025 earnings released: EPS: CN¥0.079 (vs CN¥0.29 loss in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.079 (up from CN¥0.29 loss in 2Q 2024). Revenue: CN¥825.7m (up 47% from 2Q 2024). Net income: CN¥9.55m (up CN¥60.5m from 2Q 2024). Profit margin: 1.2% (up from net loss in 2Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance. New Risk • Aug 20
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 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 63% per year over the past 5 years. Minor Risks High level of debt (81% net debt to equity). Share price has been volatile over the past 3 months (6.8% average weekly change). Annonce • Jul 02
Highbroad Advanced Material (Hefei) Co., Ltd. to Report First Half, 2025 Results on Aug 22, 2025 Highbroad Advanced Material (Hefei) Co., Ltd. announced that they will report first half, 2025 results on Aug 22, 2025 Board Change • Jun 20
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Taiping Lu was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 24
Full year 2024 earnings released: CN¥1.18 loss per share (vs CN¥0.28 profit in FY 2023) Full year 2024 results: CN¥1.18 loss per share (down from CN¥0.28 profit in FY 2023). Revenue: CN¥2.35b (up 8.5% from FY 2023). Net loss: CN¥214.8m (down CN¥267.8m from profit in FY 2023). Annonce • Apr 23
Highbroad Advanced Material (Hefei) Co., Ltd., Annual General Meeting, May 15, 2025 Highbroad Advanced Material (Hefei) Co., Ltd., Annual General Meeting, May 15, 2025, at 14:30 China Standard Time. Location: No. 699, Dayu Road, Xinzhan District, Hefei, Anhui China Annonce • Apr 15
Highbroad Advanced Material (Hefei) Co., Ltd. (SZSE:301321) announces an Equity Buyback for CNY 140 million worth of its shares. Highbroad Advanced Material (Hefei) Co., Ltd. (SZSE:301321) announces a share repurchase program. Under the program, the company will repurchase up to CNY 140 million. The shares will be repurchased at a price of not more than CNY 16 per share. The program will be financed via own funds and special loans. The purpose of the program is to maintain the company's value and protect shareholders' rights. The program will be valid for 3 months. Annonce • Mar 31
Highbroad Advanced Material (Hefei) Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Highbroad Advanced Material (Hefei) Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 New Risk • Mar 28
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 7.8% 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 Risks Debt is not well covered by operating cash flow (4.7% operating cash flow to total debt). Earnings have declined by 47% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.8% average weekly change). Annonce • Dec 31
Highbroad Advanced Material (Hefei) Co., Ltd. to Report Fiscal Year 2024 Results on Apr 23, 2025 Highbroad Advanced Material (Hefei) Co., Ltd. announced that they will report fiscal year 2024 results on Apr 23, 2025 Board Change • Nov 15
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Chairman of the Board & GM Zhaozhong Wang was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 29
Third quarter 2024 earnings released: CN¥0.19 loss per share (vs CN¥0.013 loss in 3Q 2023) Third quarter 2024 results: CN¥0.19 loss per share (further deteriorated from CN¥0.013 loss in 3Q 2023). Revenue: CN¥652.3m (up 14% from 3Q 2023). Net loss: CN¥33.1m (loss widened CN¥30.7m from 3Q 2023). New Risk • Sep 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 9.2% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (9.2% average weekly change). Earnings have declined by 38% per year over the past 5 years. Annonce • Sep 30
Highbroad Advanced Material (Hefei) Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Highbroad Advanced Material (Hefei) Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Reported Earnings • Aug 31
Second quarter 2024 earnings released: CN¥0.29 loss per share (vs CN¥0.41 profit in 2Q 2023) Second quarter 2024 results: CN¥0.29 loss per share (down from CN¥0.41 profit in 2Q 2023). Revenue: CN¥561.1m (down 1.1% from 2Q 2023). Net loss: CN¥50.9m (down 167% from profit in 2Q 2023). Annonce • Jun 29
Highbroad Advanced Material (Hefei) Co., Ltd. to Report First Half, 2024 Results on Aug 30, 2024 Highbroad Advanced Material (Hefei) Co., Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥11.00, the stock trades at a trailing P/E ratio of 58.5x. Average trailing P/E is 50x in the Semiconductor industry in China. Total loss to shareholders of 20% over the past year. Valuation Update With 7 Day Price Move • May 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥13.87, the stock trades at a trailing P/E ratio of 73.8x. Average trailing P/E is 50x in the Semiconductor industry in China. Negligible returns to shareholders over past year. Annonce • Apr 28
Highbroad Advanced Material (Hefei) Co., Ltd., Annual General Meeting, May 23, 2024 Highbroad Advanced Material (Hefei) Co., Ltd., Annual General Meeting, May 23, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Hefei, Anhui China Agenda: To consider 2023 work report of the board of directors; to consider 2023 work report of the supervisory committee; to consider 2023 annual report and its summary; and to transact such other business matters. Reported Earnings • Apr 27
First quarter 2024 earnings released: CN¥0.081 loss per share (vs CN¥0.016 profit in 1Q 2023) First quarter 2024 results: CN¥0.081 loss per share (down from CN¥0.016 profit in 1Q 2023). Revenue: CN¥469.3m (up 1.1% from 1Q 2023). Net loss: CN¥15.0m (down CN¥18.1m from profit in 1Q 2023). Annonce • Mar 30
Highbroad Advanced Material (Hefei) Co., Ltd. to Report Q1, 2024 Results on Apr 26, 2024 Highbroad Advanced Material (Hefei) Co., Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Annonce • Feb 20
Highbroad Advanced Material (Hefei) Co., Ltd. (SZSE:301321) announces an Equity Buyback for CNY 200 million worth of its shares. Highbroad Advanced Material (Hefei) Co., Ltd. (SZSE:301321) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its shares. The shares will be repurchased at no more than CNY 20 per share. The purpose of the program is to safeguard the company's value and shareholders' rights. The repurchases will be funded from company's own funds. The plan will be valid for 3 months. Annonce • Dec 29
Highbroad Advanced Material (Hefei) Co., Ltd. to Report Fiscal Year 2023 Results on Apr 22, 2024 Highbroad Advanced Material (Hefei) Co., Ltd. announced that they will report fiscal year 2023 results on Apr 22, 2024 Annonce • Dec 06
Highbroad Advanced Material (Hefei) Co., Ltd. (SZSE:301321) announces an Equity Buyback for CNY 30 million worth of its shares. Highbroad Advanced Material (Hefei) Co., Ltd. (SZSE:301321) commences share repurchases on December 1, 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on November 1, 2023. As per the mandate, the company is authorized to repurchase its shares for a total of CNY 30 million. The shares will be purchased at a price not exceeding CNY 22 per share. The repurchased shares will be used for the implementation of ESOP or equity incentive plan. The program will be valid for 12 months from the date of the shareholder's meeting. New Risk • Nov 11
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 5.3% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (5.3% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (9.9% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Paying a dividend despite having no free cash flows. Earnings have declined by 23% per year over the past 5 years. New Risk • Nov 06
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 8.9% 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 (8.9% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Paying a dividend despite having no free cash flows. Earnings have declined by 23% per year over the past 5 years. Reported Earnings • Nov 01
Third quarter 2023 earnings released: CN¥0.013 loss per share (vs CN¥0.041 loss in 3Q 2022) Third quarter 2023 results: CN¥0.013 loss per share (improved from CN¥0.041 loss in 3Q 2022). Revenue: CN¥572.0m (up 27% from 3Q 2022). Net loss: CN¥2.42m (loss narrowed 68% from 3Q 2022). Board Change • Sep 20
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Chairman of the Board & GM Zhaozhong Wang was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annonce • Sep 19
Highbroad Advanced Material (Hefei) Co., Ltd. Announces Executive Elections Highbroad Advanced Material (Hefei) Co., Ltd. elected Li Yanping and Shi Wei as non-independent directors; Zheng Dan and Shi Haina as independent directors; and Xiao Zhiguang and Sheng Huaixue as representative supervisors at the Extraordinary General Meeting held on 15 September 2023. Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: CN¥0.41 (vs CN¥0.067 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.41 (up from CN¥0.067 in 2Q 2022). Revenue: CN¥567.1m (down 14% from 2Q 2022). Net income: CN¥75.9m (up CN¥63.6m from 2Q 2022). Profit margin: 13% (up from 1.9% in 2Q 2022). The increase in margin was driven by lower expenses. New Risk • Jul 21
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 6.8% 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 Risks 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. Earnings have declined by 8.5% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.8% average weekly change). Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: CN¥0.024 (vs CN¥0.21 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.024 (down from CN¥0.21 in 1Q 2022). Revenue: CN¥464.1m (down 36% from 1Q 2022). Net income: CN¥3.04m (down 88% from 1Q 2022). Profit margin: 0.7% (down from 3.6% in 1Q 2022). Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥22.05, the stock trades at a trailing P/E ratio of 50x. Average trailing P/E is 56x in the Semiconductor industry in China. Reported Earnings • Oct 25
Third quarter 2022 earnings released: CN¥0.061 loss per share (vs CN¥0.24 profit in 3Q 2021) Third quarter 2022 results: CN¥0.061 loss per share (down from CN¥0.24 profit in 3Q 2021). Revenue: CN¥449.6m (down 43% from 3Q 2021). Net loss: CN¥7.52m (down 126% from profit in 3Q 2021). Annonce • Oct 20
Chengdu Tuowei Hi-Tech Optoelectronics Technology Co., Ltd. intends to acquire a 58.89% stake in Chengdu Tuowei Display Electronic Materials Co., Ltd. from Highbroad Advanced Material (Hefei) Co., Ltd. (SZSE:301321), Hefei Heli Investment Management Co., Ltd, Bian Jing, Li You and Wang Dong for CNY 48 million. Chengdu Tuowei Hi-Tech Optoelectronics Technology Co., Ltd. intends to acquire a 58.89% stake in Chengdu Tuowei Display Electronic Materials Co., Ltd. from Highbroad Advanced Material (Hefei) Co., Ltd. (SZSE:301321), Hefei Heli Investment Management Co., Ltd, Bian Jing, Li You and Wang Dong for CNY 48 million on October 17, 2022. Prior to the transaction, Highbroad Advanced Material holds 33.33% stake, Hefei Heli Investment Management Co., Ltd. holds 11.11% stake, Bian Jing holds 6.67% stake, Li You holds 5.56% stake and 2.2% stake in Wang Dong. Asia Pacific (Group) Accounting Firm (Special General Partnership) acted as an accountant to Chengdu Tuowei Hi-Tech Optoelectronics. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥21.25, the stock trades at a trailing P/E ratio of 27.2x. Average trailing P/E is 48x in the Semiconductor industry in China. Annonce • Sep 17
Highbroad Advanced Material (Hefei) Co., Ltd. Approves 2022 Interim Profit Distribution Highbroad Advanced Material (Hefei) Co., Ltd. in its 3rd Extraordinary General Meeting of 2022 on 15 September 2022, approved 2022 interim profit distribution plan cash dividend of CNY 2.30000000 per 10 shares for the first half of 2022. Annonce • Aug 31
Highbroad Advanced Material (Hefei) Co., Ltd. Announces Cash Dividend Proposal for the First Half of 2022 Highbroad Advanced Material (Hefei) Co., Ltd. announced cash dividend proposal of CNY 2.30000000 per 10 shares for the first half of 2022. Reported Earnings • Aug 31
Second quarter 2022 earnings released: EPS: CN¥0.10 (vs CN¥0.29 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.10 (down from CN¥0.29 in 2Q 2021). Revenue: CN¥663.6m (down 5.9% from 2Q 2021). Net income: CN¥12.4m (down 66% from 2Q 2021). Profit margin: 1.9% (down from 5.2% in 2Q 2021). The decrease in margin was driven by lower revenue. Annonce • Aug 30
Highbroad Advanced Material (Hefei) Co., Ltd. announced that it expects to receive CNY 1.2 billion in funding Highbroad Advanced Material (Hefei) Co., Ltd. announced private placement of common shares for gross proceeds of up to CNY 1,200,000,000 on August 29, 2022. 
