Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥5.87, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the Consumer Durables industry in China. Total loss to shareholders of 12% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥7.71 per share. Aankondiging • Jun 30
Changhong Meiling Co., Ltd. to Report First Half, 2026 Results on Aug 20, 2026 Changhong Meiling Co., Ltd. announced that they will report first half, 2026 results on Aug 20, 2026 Declared Dividend • Jun 21
Dividend reduced to CN¥0.21 Dividend of CN¥0.21 is 36% lower than last year. Ex-date: 23rd June 2026 Payment date: 23rd June 2026 Dividend yield will be 3.8%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (72% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 65% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Jun 17
Changhong Meiling Co., Ltd. Declares 2025 Final Dividend for B Shares, Payable on 25 June 2026 Changhong Meiling Co., Ltd. declared 2025 final profit distribution plan to be implemented (B shares): Cash dividend/10 shares: CNY 2.10000000. Record date: 25 June 2026; Ex-date: 23 June 2026; Payment date: 25 June 2026. Aankondiging • Jun 10
Changhong Meiling Co., Ltd. Approves Cash Dividend for the Year 2025 Changhong Meiling Co., Ltd. announced that at the AGM held on 08 June 2026, approved cash dividend/10 shares (tax included): CNY 2.10000000 for 2025. Aankondiging • May 19
Changhong Meiling Co., Ltd., Annual General Meeting, Jun 08, 2026 Changhong Meiling Co., Ltd., Annual General Meeting, Jun 08, 2026, at 14:30 China Standard Time. Location: No. 2163, Lianhua Road, Economic and Technological Development Zone, Hefei, Anhui China Buy Or Sell Opportunity • Apr 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to CN¥5.62. The fair value is estimated to be CN¥7.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has declined by 3.5%. Revenue is forecast to grow by 10.0% in 2 years. Earnings are forecast to grow by 43% in the next 2 years. New Risk • Apr 03
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: 1.3% Last year net profit margin: 2.4% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Apr 03
Full year 2025 earnings released: EPS: CN¥0.40 (vs CN¥0.68 in FY 2024) Full year 2025 results: EPS: CN¥0.40 (down from CN¥0.68 in FY 2024). Revenue: CN¥30.4b (up 6.3% from FY 2024). Net income: CN¥410.4m (down 41% from FY 2024). Profit margin: 1.3% (down from 2.4% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.9% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Consumer Durables industry in China. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Aankondiging • Mar 31
Changhong Meiling Co., Ltd. to Report Q1, 2026 Results on Apr 22, 2026 Changhong Meiling Co., Ltd. announced that they will report Q1, 2026 results on Apr 22, 2026 Aankondiging • Dec 31
Changhong Meiling Co., Ltd. to Report Fiscal Year 2025 Results on Apr 03, 2026 Changhong Meiling Co., Ltd. announced that they will report fiscal year 2025 results on Apr 03, 2026 New Risk • Oct 24
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 177% Dividend yield: 4.7% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings 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. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Oct 23
Third quarter 2025 earnings released: EPS: CN¥0.069 (vs CN¥0.11 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.069 (down from CN¥0.11 in 3Q 2024). Revenue: CN¥7.32b (down 6.3% from 3Q 2024). Net income: CN¥71.2m (down 38% from 3Q 2024). Profit margin: 1.0% (down from 1.5% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Consumer Durables industry in China. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Aankondiging • Sep 30
Changhong Meiling Co., Ltd. to Report Q3, 2025 Results on Oct 23, 2025 Changhong Meiling Co., Ltd. announced that they will report Q3, 2025 results on Oct 23, 2025 Reported Earnings • Aug 21
Second quarter 2025 earnings released: EPS: CN¥0.23 (vs CN¥0.25 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.23 (down from CN¥0.25 in 2Q 2024). Revenue: CN¥10.7b (up 19% from 2Q 2024). Net income: CN¥235.5m (down 9.2% from 2Q 2024). Profit margin: 2.2% (down from 2.9% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Consumer Durables industry in China. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Aankondiging • Jul 02
Changhong Meiling Co., Ltd. to Report First Half, 2025 Results on Aug 21, 2025 Changhong Meiling Co., Ltd. announced that they will report first half, 2025 results on Aug 21, 2025 Declared Dividend • Jun 07
Dividend increased to CN¥0.33 Dividend of CN¥0.33 is 10% higher than last year. Ex-date: 11th June 2025 Payment date: 11th June 2025 Dividend yield will be 4.4%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is well covered by both earnings (47% earnings payout ratio) and cash flows (14% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • May 10
Changhong Meiling Co., Ltd. (SZSE:000521) announces an Equity Buyback for CNY 300 million worth of its shares. Changhong Meiling Co., Ltd. (SZSE:000521) announces a share repurchase program. Under the program, the company will repurchase up to CNY 300 million worth of its shares. The shares will be repurchased at no more than CNY 11 per share. The purpose of the program is to use the repurchased shares for equity incentives. The program will be funded from company's own funds. The program will be valid for 12 months. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥7.02, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 15x in the Consumer Durables industry in China. Total returns to shareholders of 91% over the past three years. Board Change • Apr 04
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Wenlong Cheng was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 03
Full year 2024 earnings released: EPS: CN¥0.68 (vs CN¥0.72 in FY 2023) Full year 2024 results: EPS: CN¥0.68 (down from CN¥0.72 in FY 2023). Revenue: CN¥28.6b (up 18% from FY 2023). Net income: CN¥699.3m (down 5.6% from FY 2023). Profit margin: 2.4% (down from 3.1% in FY 2023). Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Consumer Durables industry in China. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Aankondiging • Apr 03
Changhong Meiling Co., Ltd., Annual General Meeting, Apr 25, 2025 Changhong Meiling Co., Ltd., Annual General Meeting, Apr 25, 2025, at 13:30 China Standard Time. Location: No. 2163, Lianhua Road, Economic and Technological Development Zone, Hefei, Anhui China Aankondiging • Mar 31
Changhong Meiling Co., Ltd. to Report Q1, 2025 Results on Apr 22, 2025 Changhong Meiling Co., Ltd. announced that they will report Q1, 2025 results on Apr 22, 2025 Aankondiging • Dec 31
Changhong Meiling Co., Ltd. to Report Fiscal Year 2024 Results on Apr 03, 2025 Changhong Meiling Co., Ltd. announced that they will report fiscal year 2024 results on Apr 03, 2025 Reported Earnings • Oct 23
Third quarter 2024 earnings released: EPS: CN¥0.11 (vs CN¥0.14 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.11 (down from CN¥0.14 in 3Q 2023). Revenue: CN¥7.81b (up 23% from 3Q 2023). Net income: CN¥115.4m (down 18% from 3Q 2023). Profit margin: 1.5% (down from 2.2% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Consumer Durables industry in China. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥8.98, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 15x in the Consumer Durables industry in China. Total returns to shareholders of 185% over the past three years. Aankondiging • Sep 30
Changhong Meiling Co., Ltd. to Report Q3, 2024 Results on Oct 23, 2024 Changhong Meiling Co., Ltd. announced that they will report Q3, 2024 results on Oct 23, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥10.90, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the Consumer Durables industry in China. Total returns to shareholders of 253% over the past three years. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: CN¥0.25 (vs CN¥0.23 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.25 (up from CN¥0.23 in 2Q 2023). Revenue: CN¥9.01b (up 15% from 2Q 2023). Net income: CN¥259.5m (up 10% from 2Q 2023). Profit margin: 2.9% (in line with 2Q 2023). Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Consumer Durables industry in China. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 31
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥8.25, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Consumer Durables industry in China. Total returns to shareholders of 166% over the past three years. Aankondiging • Jun 29
Changhong Meiling Co., Ltd. to Report First Half, 2024 Results on Aug 17, 2024 Changhong Meiling Co., Ltd. announced that they will report first half, 2024 results on Aug 17, 2024 Aankondiging • Jun 20
Changhong Meiling Co., Ltd. Approves Management Appointments Changhong Meiling Co., Ltd. at its Extraordinary General Meeting held on 18 June 2024, approved election of Yi Suqin, Cheng Ping and Fang Wei as non-independent directors; election of Cheng Wenlong as independent director and election of Qiu Jin and Ma Yu as shareholder supervisors. Aankondiging • Jun 08
Changhong Meiling Co., Ltd. Announces Final Cash Dividend on B Shares for the Year 2023, Payable on 17 June 2024 Changhong Meiling Co., Ltd. announced final cash dividend of CNY 3.00 per 10 shares on B shares for the year 2023. Record date: 17 June 2024, Ex-date: 13 June 2024 and Payment date: 17 June 2024. Declared Dividend • Jun 07
Dividend increased to CN¥0.30 Dividend of CN¥0.30 is 233% higher than last year. Ex-date: 13th June 2024 Payment date: 13th June 2024 Dividend yield will be 3.4%, which is lower than the industry average of 3.7%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 55% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Jun 06
Changhong Meiling Co., Ltd. Announces Final Cash Dividend on A Shares for the Year 2023, Payable on 13 June 2024 Changhong Meiling Co., Ltd. announced final cash dividend of CNY 3.00 per 10 shares on A shares (tax included) for the year 2023. Record date: 12 June 2024, Ex-date: 13 June 2024 and Payment date: 13 June 2024. Valuation Update With 7 Day Price Move • May 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥10.81, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 15x in the Consumer Durables industry in China. Total returns to shareholders of 193% over the past three years. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥9.85, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 22x in the Consumer Durables industry in China. Total returns to shareholders of 165% over the past three years. Reported Earnings • Mar 31
Full year 2023 earnings released Full year 2023 results: Revenue: CN¥24.2b (up 20% from FY 2022). Net income: CN¥741.0m (up 203% from FY 2022). Profit margin: 3.1% (up from 1.2% in FY 2022). The increase in margin was driven by higher revenue. New Risk • Mar 04
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥8.21, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 20x in the Consumer Durables industry in China. Total returns to shareholders of 156% over the past three years. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥7.62, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 22x in the Consumer Durables industry in China. Total returns to shareholders of 116% over the past three years. Aankondiging • Dec 29
Changhong Meiling Co., Ltd. to Report Fiscal Year 2023 Results on Mar 30, 2024 Changhong Meiling Co., Ltd. announced that they will report fiscal year 2023 results on Mar 30, 2024 Aankondiging • Jul 01
Changhong Meiling Co., Ltd. to Report First Half, 2023 Results on Aug 18, 2023 Changhong Meiling Co., Ltd. announced that they will report first half, 2023 results on Aug 18, 2023 Aankondiging • Apr 02
Changhong Meiling Co., Ltd., Annual General Meeting, Apr 28, 2022 Changhong Meiling Co., Ltd., Annual General Meeting, Apr 28, 2022, at 13:30 China Standard Time. Agenda: To consider 2021 work report of board of directors; to consider 2021 work report of the supervisory committee; to consider 2021 annual report and its summary; to consider 2021 annual accounts; to consider 2021 profit distribution plan; to consider reappointment of 2022 financial and internal control audit firm & payment of audit fees; to consider provision for credit impairment losses; to consider provision for inventory write-down; to consider disposal of non-current assets; to consider provision for assets impairment; to consider launching forward foreign exchange business; and to consider other matters. Aankondiging • Apr 01
Changhong Meiling Co., Ltd. Proposes Final Cash Dividend for 2021 Changhong Meiling Co., Ltd. announced on 31 March 2022 the final cash dividend distribution proposal of CNY 0.50000000 per 10 shares (tax included) for 2021. Aankondiging • Feb 24
Changhong Meiling Co., Ltd. to Report Fiscal Year 2020 Results on Mar 31, 2021 Changhong Meiling Co., Ltd. announced that they will report fiscal year 2020 results on Mar 31, 2021 Aankondiging • Oct 16
Changhong Meiling Co., Ltd. to Report Q3, 2020 Results on Oct 20, 2020 Changhong Meiling Co., Ltd. announced that they will report Q3, 2020 results on Oct 20, 2020 Aankondiging • Oct 14
Changhong Meiling Co., Ltd. Approves Election of Directors Changhong Meiling Co., Ltd. announced that at the EGM held on October 12, 2020, approved election of Hong Yuanjia, Mou Wen and Zhao Gang as directors. Aankondiging • Jul 22
Changhong Meiling Co., Ltd. to Report First Half, 2020 Results on Aug 15, 2020 Changhong Meiling Co., Ltd. announced that they will report first half, 2020 results on Aug 15, 2020