New Risk • May 20
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 42% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (42% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Annuncio • Apr 28
Anhui Korrun Co., Ltd., Annual General Meeting, May 19, 2026 Anhui Korrun Co., Ltd., Annual General Meeting, May 19, 2026, at 14:30 China Standard Time. Location: 16F, Building 21B, No. 1158, Zhongxin Road, Songjiang District, Shanghai China Annuncio • Mar 31
Anhui Korrun Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Anhui Korrun Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 Annuncio • Dec 31
Anhui Korrun Co., Ltd. to Report Fiscal Year 2025 Results on Apr 28, 2026 Anhui Korrun Co., Ltd. announced that they will report fiscal year 2025 results on Apr 28, 2026 Annuncio • Sep 30
Anhui Korrun Co., Ltd. to Report Q3, 2025 Results on Oct 29, 2025 Anhui Korrun Co., Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 Annuncio • Jul 02
Anhui Korrun Co., Ltd. to Report First Half, 2025 Results on Aug 28, 2025 Anhui Korrun Co., Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Annuncio • May 22
Anhui Korrun Co., Ltd. Approves Cash Dividend for 2024 Anhui Korrun Co., Ltd. at the Annual General Meeting of 2024 on 16 May 2025 approved 2024 profit distribution plan: Cash dividend per 10 shares (tax included) of CNY 1.91000000. Annuncio • Apr 26
Anhui Korrun Co., Ltd., Annual General Meeting, May 16, 2025 Anhui Korrun Co., Ltd., Annual General Meeting, May 16, 2025, at 14:30 China Standard Time. Location: 16F, Building 21B, No. 1158, Zhongxin Road, Songjiang District, Shanghai China Annuncio • Mar 31
Anhui Korrun Co., Ltd. to Report Q1, 2025 Results on Apr 26, 2025 Anhui Korrun Co., Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 Annuncio • Dec 31
Anhui Korrun Co., Ltd. to Report Fiscal Year 2024 Results on Apr 26, 2025 Anhui Korrun Co., Ltd. announced that they will report fiscal year 2024 results on Apr 26, 2025 Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.31 (vs CN¥0.20 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.31 (up from CN¥0.20 in 3Q 2023). Revenue: CN¥1.19b (up 64% from 3Q 2023). Net income: CN¥72.4m (up 57% from 3Q 2023). Profit margin: 6.1% (down from 6.3% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Luxury industry in China. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥24.72, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 12x in the Luxury industry in China. Total returns to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥22.69 per share. Annuncio • Sep 30
Anhui Korrun Co., Ltd. to Report Q3, 2024 Results on Oct 30, 2024 Anhui Korrun Co., Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: CN¥0.72 (vs CN¥0.16 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.72 (up from CN¥0.16 in 2Q 2023). Revenue: CN¥921.6m (up 13% from 2Q 2023). Net income: CN¥177.1m (up 341% from 2Q 2023). Profit margin: 19% (up from 4.9% in 2Q 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Luxury industry in China. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 1% per year. Annuncio • Jun 29
Anhui Korrun Co., Ltd. to Report First Half, 2024 Results on Aug 28, 2024 Anhui Korrun Co., Ltd. announced that they will report first half, 2024 results on Aug 28, 2024 Declared Dividend • May 31
Dividend increased to CN¥0.094 Dividend of CN¥0.094 is 4.4% higher than last year. Ex-date: 5th June 2024 Payment date: 5th June 2024 Dividend yield will be 0.4%, which is lower than the industry average of 3.3%. Sustainability & Growth Dividend is well covered by both earnings (15% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 130% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annuncio • May 30
Anhui Korrun Co., Ltd. Announces Dividend for 2023 for Share A, payable on June 5, 2024 Anhui Korrun Co., Ltd. announced 2023 final profit distribution plan to be implemented (A shares): Cash dividend/10 shares (tax included): CNY 0.94000000. Record date: 04 June 2024, Ex-date: June 5, 2024, Payment date: June 5, 2024. Annuncio • Apr 30
Anhui Korrun Co., Ltd., Annual General Meeting, May 20, 2024 Anhui Korrun Co., Ltd., Annual General Meeting, May 20, 2024, at 14:30 China Standard Time. Location: 16F, Building B, No. 100, Zunyi Road, Songjiang District, Shanghai China New Risk • Apr 29
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 33% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥20.70, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 14x in the Luxury industry in China. Total loss to shareholders of 18% over the past three years. Annuncio • Mar 30
Anhui Korrun Co., Ltd. to Report Q1, 2024 Results on Apr 29, 2024 Anhui Korrun Co., Ltd. announced that they will report Q1, 2024 results on Apr 29, 2024 Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥16.47, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 14x in the Luxury industry in China. Total loss to shareholders of 32% over the past three years. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥11.03, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Luxury industry in China. Total loss to shareholders of 48% over the past three years. Annuncio • Feb 01
Anhui Korrun Co., Ltd. (SZSE:300577) announces an Equity Buyback for CNY 100 million worth of its shares. Anhui Korrun Co., Ltd. (SZSE:300577) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth its A shares. The shares will be repurchased at a price of CNY 20.85 per share. The repurchased shares will be used for ESOP or equity incentives. The program is valid for a period of 12 months. Annuncio • Dec 29
Anhui Korrun Co., Ltd. to Report Fiscal Year 2023 Results on Apr 29, 2024 Anhui Korrun Co., Ltd. announced that they will report fiscal year 2023 results on Apr 29, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.20 (vs CN¥0.081 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.20 (up from CN¥0.081 in 3Q 2022). Revenue: CN¥726.0m (down 14% from 3Q 2022). Net income: CN¥46.0m (up 128% from 3Q 2022). Profit margin: 6.3% (up from 2.4% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Luxury industry in China. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. Annuncio • Sep 30
Anhui Korrun Co., Ltd. to Report Q3, 2023 Results on Oct 23, 2023 Anhui Korrun Co., Ltd. announced that they will report Q3, 2023 results on Oct 23, 2023 Reported Earnings • Aug 26
Second quarter 2023 earnings released: EPS: CN¥0.16 (vs CN¥0.014 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.16 (up from CN¥0.014 in 2Q 2022). Revenue: CN¥816.9m (up 16% from 2Q 2022). Net income: CN¥40.1m (up CN¥37.0m from 2Q 2022). Profit margin: 4.9% (up from 0.4% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Luxury industry in China. Over the last 3 years on average, earnings per share has fallen by 22% per year and the company’s share price has also fallen by 22% per year. Annuncio • Jun 29
Anhui Korrun Co., Ltd. Announces Directors Appointments Anhui Korrun Co., Ltd. held its 2nd Extraordinary General Meeting of 2023 on 27 June 2023 were approved Wen Donghua, Wang Yang and Li Qingyang as independent directors also Fan Lijuan and Liu Tiantian as supervisors. Annuncio • Jun 08
Anhui Korrun Co., Ltd. Announces Final Cash Dividend on A Shares for the Year 2022, Payable on June 14, 2023 Anhui Korrun Co., Ltd. announced final cash dividend of CNY 0.90 per 10 shares on A shares for the year 2022. Record date is June 13, 2023, Ex-Date is June 14, 2023 and Payment Date is June 14, 2023. Annuncio • May 20
Anhui Korrun Co., Ltd. Approves Cash Dividend for 2022 Anhui Korrun Co., Ltd. at its Annual General Meeting of 2022 held on 18 May 2023, approved cash dividend/10 shares (tax included): CNY 0.90000000. Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: CN¥0.15 (vs CN¥0.19 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.15 (down from CN¥0.19 in 1Q 2022). Revenue: CN¥740.2m (up 21% from 1Q 2022). Net income: CN¥35.0m (down 25% from 1Q 2022). Profit margin: 4.7% (down from 7.6% in 1Q 2022). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Luxury industry in China. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
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. 1 experienced director. 4 highly experienced directors. Chairman of the Supervisory Board Lijuan Fan 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. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.081 (vs CN¥0.23 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.081 (down from CN¥0.23 in 3Q 2021). Revenue: CN¥840.8m (up 44% from 3Q 2021). Net income: CN¥20.1m (down 63% from 3Q 2021). Profit margin: 2.4% (down from 9.3% in 3Q 2021). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Luxury industry in China. Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 22% per year. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: CN¥0.014 (vs CN¥0.21 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.014 (down from CN¥0.21 in 2Q 2021). Revenue: CN¥707.1m (up 31% from 2Q 2021). Net income: CN¥3.16m (down 94% from 2Q 2021). Profit margin: 0.4% (down from 9.6% in 2Q 2021). Over the next year, revenue is forecast to grow 12%, compared to a 24% growth forecast for the Luxury industry in China. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has fallen by 27% per year, which means it is performing significantly worse than earnings. Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: CN¥0.19 (vs CN¥0.19 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.19 (vs CN¥0.19 in 1Q 2021). Revenue: CN¥611.8m (up 36% from 1Q 2021). Net income: CN¥46.5m (up 2.8% from 1Q 2021). Profit margin: 7.6% (down from 10.0% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 37%, compared to a 24% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 27% per year, which means it is performing significantly worse than earnings. Board Change • Apr 27
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. 8 experienced directors. No highly experienced directors. Non-Independent Director Zhi Guo Zhong 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. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.23 (vs CN¥0.12 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥584.5m (up 13% from 3Q 2020). Net income: CN¥54.2m (up CN¥81.3m from 3Q 2020). Profit margin: 9.3% (up from net loss in 3Q 2020). Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS CN¥0.21 (vs CN¥0.15 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥538.4m (up 29% from 2Q 2020). Net income: CN¥51.8m (up 60% from 2Q 2020). Profit margin: 9.6% (up from 7.8% in 2Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Apr 30
First quarter 2021 earnings released: EPS CN¥0.19 (vs CN¥0.15 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: CN¥451.3m (down 16% from 1Q 2020). Net income: CN¥45.3m (up 42% from 1Q 2020). Profit margin: 10.0% (up from 5.9% in 1Q 2020). Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 22% share price gain to CN¥26.93, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 18x in the Luxury industry in China. Total returns to shareholders of 2.0% over the past year. Reported Earnings • Mar 16
Full year 2020 earnings released: EPS CN¥0.36 (vs CN¥1.04 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥1.94b (down 28% from FY 2019). Net income: CN¥78.0m (down 66% from FY 2019). Profit margin: 4.0% (down from 8.4% in FY 2019). The decrease in margin was driven by lower revenue. Is New 90 Day High Low • Jan 27
New 90-day low: CN¥22.76 The company is down 25% from its price of CN¥30.55 on 30 October 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is down 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥4.47 per share. Is New 90 Day High Low • Jan 07
New 90-day low: CN¥24.87 The company is down 24% from its price of CN¥32.77 on 09 October 2020. The Chinese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥4.45 per share. Is New 90 Day High Low • Dec 13
New 90-day low: CN¥28.69 The company is down 1.0% from its price of CN¥28.86 on 14 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Luxury industry, which is also down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥3.36 per share. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥87.9m, down 60% from the prior year. Total revenue was CN¥2.22b over the last 12 months, down 14% from the prior year. Valuation Update With 7 Day Price Move • Oct 16
Market bids up stock over the past week After last week's 19% share price gain to CN¥39.00, the stock is trading at a trailing P/E ratio of 47.5x, up from the previous P/E ratio of 39.9x. This compares to an average P/E of 29x in the Luxury industry in China. Total returns to shareholders over the past year are 24%. Is New 90 Day High Low • Oct 14
New 90-day high: CN¥35.88 The company is up 24% from its price of CN¥28.96 on 16 July 2020. The Chinese market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥3.13 per share.