Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to CN¥18.39, the stock trades at a trailing P/E ratio of 21.1x. Average trailing P/E is 47x in the Chemicals industry in China. Total returns to shareholders of 15% over the past three years. 공고 • Jun 30
Wankai New Materials Co., Ltd. to Report First Half, 2026 Results on Aug 24, 2026 Wankai New Materials Co., Ltd. announced that they will report first half, 2026 results on Aug 24, 2026 Board Change • May 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. 10 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Chizhou Zhang was the last independent 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. 공고 • Apr 28
Wankai New Materials Co., Ltd., Annual General Meeting, May 19, 2026 Wankai New Materials Co., Ltd., Annual General Meeting, May 19, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Jiaxing, Zhejiang China 공고 • Mar 31
Wankai New Materials Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Wankai New Materials Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 공고 • Dec 31
Wankai New Materials Co., Ltd. to Report Fiscal Year 2025 Results on Apr 28, 2026 Wankai New Materials Co., Ltd. announced that they will report fiscal year 2025 results on Apr 28, 2026 공고 • Sep 30
Wankai New Materials Co., Ltd. to Report Q3, 2025 Results on Oct 29, 2025 Wankai New Materials Co., Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 공고 • Jul 02
Wankai New Materials Co., Ltd. to Report First Half, 2025 Results on Aug 28, 2025 Wankai New Materials Co., Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 공고 • Apr 22
Wankai New Materials Co., Ltd. Proposes Final Dividend for 2024 Wankai New Materials Co., Ltd. announced on 21 April 2025 the final profit distribution proposal for 2024 as follows: Cash dividend/10 shares (tax included): CNY 1.50000000. 공고 • Apr 21
Wankai New Materials Co., Ltd., Annual General Meeting, May 13, 2025 Wankai New Materials Co., Ltd., Annual General Meeting, May 13, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Jiaxing, Zhejiang China 공고 • Mar 31
Wankai New Materials Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Wankai New Materials Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 공고 • Dec 31
Wankai New Materials Co., Ltd. to Report Fiscal Year 2024 Results on Apr 21, 2025 Wankai New Materials Co., Ltd. announced that they will report fiscal year 2024 results on Apr 21, 2025 New Risk • Nov 09
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% 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 (18% operating cash flow to total debt). 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. New Risk • Oct 30
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.4% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain 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: Major Risk 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. Minor Risk High level of debt (56% net debt to equity). Reported Earnings • Oct 30
Third quarter 2024 earnings released: CN¥0.29 loss per share (vs CN¥0.25 profit in 3Q 2023) Third quarter 2024 results: CN¥0.29 loss per share (down from CN¥0.25 profit in 3Q 2023). Revenue: CN¥4.52b (up 3.3% from 3Q 2023). Net loss: CN¥136.2m (down 204% from profit in 3Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to CN¥11.68, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 16x in the Chemicals industry in China. Total loss to shareholders of 20% over the past year. 공고 • Sep 30
Wankai New Materials Co., Ltd. to Report Q3, 2024 Results on Oct 30, 2024 Wankai New Materials Co., Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Reported Earnings • Aug 28
Second quarter 2024 earnings released: CN¥0.004 loss per share (vs CN¥0.29 profit in 2Q 2023) Second quarter 2024 results: CN¥0.004 loss per share (down from CN¥0.29 profit in 2Q 2023). Revenue: CN¥4.39b (up 6.0% from 2Q 2023). Net loss: CN¥2.09m (down 101% from profit in 2Q 2023). Profit margin: 0% (down from 3.5% in 2Q 2023). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. 공고 • Jun 29
Wankai New Materials Co., Ltd. to Report First Half, 2024 Results on Aug 28, 2024 Wankai New Materials Co., Ltd. announced that they will report first half, 2024 results on Aug 28, 2024 New Risk • May 05
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 1.3% 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 (1.3% operating cash flow to total debt). High level of non-cash earnings (33% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.6% net profit margin). 공고 • Apr 21
Wankai New Materials Co., Ltd., Annual General Meeting, May 10, 2024 Wankai New Materials Co., Ltd., Annual General Meeting, May 10, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Jiaxing, Zhejiang China Reported Earnings • Apr 20
Full year 2023 earnings released: EPS: CN¥0.85 (vs CN¥1.98 in FY 2022) Full year 2023 results: EPS: CN¥0.85 (down from CN¥1.98 in FY 2022). Revenue: CN¥17.5b (down 9.6% from FY 2022). Net income: CN¥436.5m (down 54% from FY 2022). Profit margin: 2.5% (down from 4.9% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Chemicals industry in China. 공고 • Mar 30
Wankai New Materials Co., Ltd. to Report Q1, 2024 Results on Apr 26, 2024 Wankai New Materials Co., Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥10.38, the stock trades at a trailing P/E ratio of 9.6x. Average forward P/E is 12x in the Chemicals industry in China. Total loss to shareholders of 47% over the past year. 공고 • Dec 30
Wankai New Materials Co., Ltd. to Report Fiscal Year 2023 Results on Apr 20, 2024 Wankai New Materials Co., Ltd. announced that they will report fiscal year 2023 results on Apr 20, 2024 공고 • Nov 02
Wankai New Materials Co., Ltd. (SZSE:301216) announces an Equity Buyback for CNY 100 million worth of its shares. Wankai New Materials Co., Ltd. (SZSE:301216) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 100 million worth of its shares. The program will be valid for not more than 12 months. New Risk • Oct 25
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.2% Last year net profit margin: 5.2% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (35% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (3.2% net profit margin). Reported Earnings • Oct 25
Third quarter 2023 earnings released: EPS: CN¥0.25 (vs CN¥0.40 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.25 (down from CN¥0.40 in 3Q 2022). Revenue: CN¥4.37b (down 16% from 3Q 2022). Net income: CN¥130.5m (down 37% from 3Q 2022). Profit margin: 3.0% (down from 4.0% in 3Q 2022). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Chemicals industry in China. Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: CN¥0.29 (vs CN¥0.49 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.29 (down from CN¥0.49 in 2Q 2022). Revenue: CN¥4.14b (down 8.1% from 2Q 2022). Net income: CN¥146.0m (down 42% from 2Q 2022). Profit margin: 3.5% (down from 5.6% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Chemicals industry in China. 공고 • Jun 01
Wankai New Materials Co., Ltd. Approves Cash Dividend for 2022 Payable on 07 June 2023 Wankai New Materials Co., Ltd. approved Cash dividend/10 shares (tax included): CNY 3.00000000 for the year 2022. Record date: 06 June 2023. Ex-date: 07 June 2023. Payment date: 07 June 2023. Reported Earnings • Mar 14
Full year 2022 earnings released: EPS: CN¥2.97 (vs CN¥1.72 in FY 2021) Full year 2022 results: EPS: CN¥2.97 (up from CN¥1.72 in FY 2021). Revenue: CN¥19.4b (up 102% from FY 2021). Net income: CN¥956.8m (up 117% from FY 2021). Profit margin: 4.9% (up from 4.6% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.3% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Chemicals industry in China. 공고 • Feb 17
Wankai New Materials Co., Ltd. (SZSE:301216) signed an equity transfer agreement to acquire Sichuan Zhengdakai New Materials Co., Ltd. from Zhejiang Zhengkai Investment Ltd. for approximately CNY 350 million. Wankai New Materials Co., Ltd. (SZSE:301216) signed an equity transfer agreement to acquire Sichuan Zhengdakai New Materials Co., Ltd. from Zhejiang Zhengkai Investment Ltd. for approximately CNY 350 million on February 15, 2023. As per the terms of agreement, Wankai New Materials shall pay the price of this equity transfer by bank transfer within ten working days from the date of completion of the industrial and commercial change registration of this equity transfer. Sichuan Zhengdakai New Materials has reported total assets of CNY 428.6083 million and net assets of CNY 200.3557 million on January 31, 2023. The board of Wankai New Materials has approved the deal on February 15, 2023. Board Change • Dec 13
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). Independent Director Guoping Chen is the most experienced director on the board, commencing their role in 2020. Independent Director Jizhou Zhang was the last independent 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. Lack of board continuity. Lack of experienced directors.