New Risk • Jul 25
New major risk - Revenue and earnings growth Earnings have declined by 30% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 30% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). Aankondiging • Jun 30
Wuhu Token Sciences Co., Ltd. to Report First Half, 2026 Results on Aug 28, 2026 Wuhu Token Sciences Co., Ltd. announced that they will report first half, 2026 results on Aug 28, 2026 Declared Dividend • Jun 01
Dividend reduced to CN¥0.05 Dividend of CN¥0.05 is 15% lower than last year. Ex-date: 3rd June 2026 Payment date: 3rd June 2026 Dividend yield will be 0.7%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (74% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 66% over the next year, which should provide support to the dividend and adequate earnings cover. Aankondiging • May 30
Wuhu Token Sciences Co., Ltd. Announces Final Cash Dividend on A Shares for the Year 2025, Payable on 3 June 2026 Wuhu Token Sciences Co., Ltd. announced 2025 final profit distribution plan to be implemented (A shares): Cash dividend/10 shares (tax included) of CNY 0.50000000. Record date: 02 June 2026, Ex-date: 03 June 2026, Payment date: 03 June 2026. Reported Earnings • Apr 27
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.08 (down from CN¥0.15 in FY 2024). Revenue: CN¥11.6b (up 4.7% from FY 2024). Net income: CN¥203.6m (down 43% from FY 2024). Profit margin: 1.8% (down from 3.2% in FY 2024). Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates by 50%. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Electronic 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 increased by 5% per year, which means it is well ahead of earnings. Aankondiging • Apr 27
Wuhu Token Sciences Co., Ltd., Annual General Meeting, May 18, 2026 Wuhu Token Sciences Co., Ltd., Annual General Meeting, May 18, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Wuhu, Anhui China New Risk • Apr 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 8.0% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.0% average weekly change). Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to CN¥7.77, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 32x in the Electronic industry in China. Total returns to shareholders of 17% over the past three years. Aankondiging • Mar 31
Wuhu Token Sciences Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Wuhu Token Sciences Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 Aankondiging • Dec 31
Wuhu Token Sciences Co., Ltd. to Report Fiscal Year 2025 Results on Apr 27, 2026 Wuhu Token Sciences Co., Ltd. announced that they will report fiscal year 2025 results on Apr 27, 2026 Reported Earnings • Oct 29
Third quarter 2025 earnings released: EPS: CN¥0.028 (vs CN¥0.044 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.028 (down from CN¥0.044 in 3Q 2024). Revenue: CN¥2.88b (down 4.7% from 3Q 2024). Net income: CN¥68.0m (down 37% from 3Q 2024). Profit margin: 2.4% (down from 3.6% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Aankondiging • Sep 30
Wuhu Token Sciences Co., Ltd. to Report Q3, 2025 Results on Oct 29, 2025 Wuhu Token Sciences Co., Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 Reported Earnings • Aug 28
Second quarter 2025 earnings released: EPS: CN¥0.055 (vs CN¥0.055 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.055 (in line with 2Q 2024). Revenue: CN¥3.29b (up 9.1% from 2Q 2024). Net income: CN¥137.8m (up 2.0% from 2Q 2024). Profit margin: 4.2% (down from 4.5% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Aankondiging • Jul 02
Wuhu Token Sciences Co., Ltd. to Report First Half, 2025 Results on Aug 28, 2025 Wuhu Token Sciences Co., Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Declared Dividend • Jun 09
Dividend reduced to CN¥0.059 Dividend of CN¥0.059 is 16% lower than last year. Ex-date: 12th June 2025 Payment date: 12th June 2025 Dividend yield will be 1.0%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (37% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 9.1% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 59% to shift the payout ratio to a potentially unsustainable range, which is more than the 16% EPS decline seen over the last 5 years. Board Change • Apr 29
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Independent Director Yunfei Wu was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 25
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: CN¥0.15 (up from CN¥0.10 in FY 2023). Revenue: CN¥11.1b (up 24% from FY 2023). Net income: CN¥356.8m (up 48% from FY 2023). Profit margin: 3.2% (up from 2.7% in FY 2023). Revenue exceeded analyst estimates by 29%. Earnings per share (EPS) missed analyst estimates by 41%. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Aankondiging • Apr 25
Wuhu Token Sciences Co., Ltd., Annual General Meeting, May 15, 2025 Wuhu Token Sciences Co., Ltd., Annual General Meeting, May 15, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Wuhu, Anhui China Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CN¥4.87, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 27x in the Electronic industry in China. Total loss to shareholders of 27% over the past three years. Aankondiging • Mar 31
Wuhu Token Sciences Co., Ltd. to Report Q1, 2025 Results on Apr 26, 2025 Wuhu Token Sciences Co., Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 Aankondiging • Dec 31
Wuhu Token Sciences Co., Ltd. to Report Fiscal Year 2024 Results on Apr 25, 2025 Wuhu Token Sciences Co., Ltd. announced that they will report fiscal year 2024 results on Apr 25, 2025 Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: CN¥0.044 (vs CN¥0.035 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.044 (up from CN¥0.035 in 3Q 2023). Revenue: CN¥3.02b (up 3.3% from 3Q 2023). Net income: CN¥108.4m (up 26% from 3Q 2023). Profit margin: 3.6% (up from 2.9% in 3Q 2023). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Aankondiging • Sep 30
Wuhu Token Sciences Co., Ltd. to Report Q3, 2024 Results on Oct 25, 2024 Wuhu Token Sciences Co., Ltd. announced that they will report Q3, 2024 results on Oct 25, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to CN¥6.20, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 21x in the Electronic industry in China. Total loss to shareholders of 13% over the past three years. New Risk • Aug 29
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 8.4% 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: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.9% net profit margin). Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: CN¥0.055 (vs CN¥0.047 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.055 (up from CN¥0.047 in 2Q 2023). Revenue: CN¥3.02b (up 59% from 2Q 2023). Net income: CN¥135.1m (up 17% from 2Q 2023). Profit margin: 4.5% (down from 6.1% in 2Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Aug 29
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥5.30, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 19x in the Electronic industry in China. Total loss to shareholders of 21% over the past three years. Price Target Changed • Jul 09
Price target increased by 9.8% to CN¥8.15 Up from CN¥7.43, the current price target is an average from 2 analysts. New target price is 76% above last closing price of CN¥4.62. Stock is down 26% over the past year. The company is forecast to post earnings per share of CN¥0.23 for next year compared to CN¥0.10 last year. Aankondiging • Jun 29
Wuhu Token Sciences Co., Ltd. to Report First Half, 2024 Results on Aug 29, 2024 Wuhu Token Sciences Co., Ltd. announced that they will report first half, 2024 results on Aug 29, 2024 Declared Dividend • Jun 03
Dividend reduced to CN¥0.07 Dividend of CN¥0.07 is 30% lower than last year. Ex-date: 7th June 2024 Payment date: 7th June 2024 Dividend yield will be 1.5%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is not adequately covered by earnings (90.5% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share is expected to grow by 213% over the next 3 years, which should maintain adequate earnings cover for the dividend. Aankondiging • Jun 01
Wuhu Token Sciences Co., Ltd. Implements 2023 Final Profit Distribution Plan of A Shares, Payable on 07 June 2024 Wuhu Token Sciences Co., Ltd. announced 2023 final profit distribution plan to be implemented (A shares) as Cash dividend/10 shares (tax included): CNY 0.70000000. Record date: 06 June 2024, Ex-date: 07 June 2024, Payment date: 07 June 2024. Major Estimate Revision • May 29
Consensus revenue estimates increase by 38%, EPS downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from CN¥9.19b to CN¥12.7b. EPS estimate fell from CN¥0.298 to CN¥0.18. Net income forecast to grow 180% next year vs 59% growth forecast for Electronic industry in China. Consensus price target of CN¥7.57 unchanged from last update. Share price fell 7.1% to CN¥4.70 over the past week. New Risk • Apr 28
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 90% 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. Payout ratio: 90% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.9% net profit margin). Aankondiging • Apr 28
Wuhu Token Sciences Co., Ltd., Annual General Meeting, May 17, 2024 Wuhu Token Sciences Co., Ltd., Annual General Meeting, May 17, 2024, at 13:30 China Standard Time. Location: The Company's Meeting Room, Wuhu, Anhui China Agenda: To consider 2023 work report of the board of directors; to consider 2023 annual accounts report; to consider 2023 annual report and its summary; to consider 2023 profit distribution plan; to consider Reappointment of audit firm; to consider 2023 internal control self-evaluation report; to consider 2024 guarantee for subsidiaries and joint stock companies; to consider 2024 provision of guarantee for a company; to consider Special report on the deposit and use of raised funds in 2023; to consider Change of the Company's registered capital and amendments to the Company's articles of association; to consider 2023 work report of the supervisory committee; to consider Amendments to the work system for independent directors; and to consider Formulation of the allowance management measures for independent directors. Aankondiging • Apr 27
Wuhu Token Sciences Co., Ltd. Proposes Final Cash Dividend for the Year 2023 Wuhu Token Sciences Co., Ltd. proposed final cash dividend per 10 shares (tax included) of CNY 0.70000000 for the year 2023. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.02 (vs CN¥0.043 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.02 (down from CN¥0.043 in 1Q 2023). Revenue: CN¥2.60b (up 77% from 1Q 2023). Net income: CN¥49.5m (down 53% from 1Q 2023). Profit margin: 1.9% (down from 7.1% in 1Q 2023). Revenue is forecast to grow 1.9% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. New Risk • Apr 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 28% 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. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.0% net profit margin). Aankondiging • Mar 30
Wuhu Token Sciences Co., Ltd. to Report Q1, 2024 Results on Apr 26, 2024 Wuhu Token Sciences Co., Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Major Estimate Revision • Feb 09
Consensus EPS estimates fall by 14% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from CN¥0.337 to CN¥0.29. Revenue forecast unchanged from CN¥8.06b at last update. Net income forecast to grow 46% next year vs 61% growth forecast for Electronic industry in China. Consensus price target of CN¥7.57 unchanged from last update. Share price rose 13% to CN¥4.93 over the past week. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥4.60, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 17x in the Electronic industry in China. Total loss to shareholders of 38% over the past three years. Aankondiging • Dec 30
Wuhu Token Sciences Co., Ltd. to Report Fiscal Year 2023 Results on Apr 26, 2024 Wuhu Token Sciences Co., Ltd. announced that they will report fiscal year 2023 results on Apr 26, 2024 Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥7.85, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 22x in the Electronic industry in China. Total loss to shareholders of 21% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥3.72 per share. Price Target Changed • Nov 04
Price target decreased by 8.4% to CN¥6.80 Down from CN¥7.43, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of CN¥6.78. Stock is up 2.7% over the past year. The company is forecast to post earnings per share of CN¥0.33 for next year compared to CN¥0.28 last year. Reported Earnings • Nov 01
Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2023 results: EPS: CN¥0.035 (down from CN¥0.089 in 3Q 2022). Revenue: CN¥2.92b (up 49% from 3Q 2022). Net income: CN¥85.9m (down 61% from 3Q 2022). Profit margin: 2.9% (down from 11% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates by 70%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Oct 30
Consensus revenue estimates increase by 12% The consensus outlook for revenues in fiscal year 2023 has improved. 2023 revenue forecast increased from CN¥7.49b to CN¥8.38b. EPS estimate increased from CN¥0.24 to CN¥0.346 per share. Net income forecast to grow 80% next year vs 72% growth forecast for Electronic industry in China. Consensus price target broadly unchanged at CN¥7.30. Share price rose 6.4% to CN¥6.50 over the past week. Aankondiging • Sep 30
Wuhu Token Sciences Co., Ltd. to Report Q3, 2023 Results on Oct 28, 2023 Wuhu Token Sciences Co., Ltd. announced that they will report Q3, 2023 results at 3:00 PM, China Standard Time on Oct 28, 2023 Aankondiging • Sep 14
Wuhu Token Sciences Co., Ltd. Announces Executive Elections Wuhu Token Sciences Co., Ltd. elected Jiang Mingyin and Wu Yunfei as non-independent directors; Luo Kun and Qian Jun as independent directors; and Chang Liping and Wang Wei as non-employee supervisors at the extraordinary general meeting held on September 11, 2023. New Risk • Sep 03
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% 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. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.5% net profit margin). Major Estimate Revision • Sep 01
Consensus EPS estimates fall by 35% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from CN¥0.367 to CN¥0.24. Revenue forecast unchanged from CN¥7.49b at last update. Net income forecast to grow 57% next year vs 65% growth forecast for Electronic industry in China. Consensus price target down from CN¥7.65 to CN¥7.43. Share price rose 5.2% to CN¥5.88 over the past week. Reported Earnings • Aug 26
Second quarter 2023 earnings: EPS in line with expectations, revenues disappoint Second quarter 2023 results: EPS: CN¥0.047 (down from CN¥0.075 in 2Q 2022). Revenue: CN¥1.90b (up 27% from 2Q 2022). Net income: CN¥115.5m (down 37% from 2Q 2022). Profit margin: 6.1% (down from 12% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electronic 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 23% per year, which means it is performing significantly worse than earnings. Price Target Changed • May 30
Price target decreased by 10% to CN¥8.30 Down from CN¥9.23, the current price target is an average from 3 analysts. New target price is 33% above last closing price of CN¥6.26. Stock is down 9.4% over the past year. The company is forecast to post earnings per share of CN¥0.40 for next year compared to CN¥0.28 last year. Aankondiging • May 27
Wuhu Token Sciences Co., Ltd. Announces Final Dividend on A Shares for the Year 2022, Payable on June 2, 2023 Wuhu Token Sciences Co., Ltd. announced final cash dividend/10 shares (tax included) of CNY 0.99999900 on A shares for the year 2022. Record date is June 1, 2023. Ex-date is June 2, 2023. Payment date is June 2, 2023. Major Estimate Revision • May 08
Consensus revenue estimates fall by 22% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥9.60b to CN¥7.49b. EPS estimate fell from CN¥0.491 to CN¥0.30 per share. Net income forecast to grow 41% next year vs 49% growth forecast for Electronic industry in China. Consensus price target down from CN¥9.23 to CN¥8.93. Share price was steady at CN¥6.09 over the past week. Reported Earnings • Apr 15
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥0.28 (down from CN¥0.37 in FY 2021). Revenue: CN¥6.99b (flat on FY 2021). Net income: CN¥679.7m (down 25% from FY 2021). Profit margin: 9.7% (down from 13% in FY 2021). Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 30%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 9% per year. Aankondiging • Feb 15
Wuhu Token Sciences Co., Ltd. (SZSE:300088) agreed to acquire remaining 43.86% stake in Hybio Pharmaceutical Co., Ltd. (SZSE : 300199) from Anhui Province Railway Development Fund Co.,Ltd. and Wuhu Xinzhen Equity Investment Partnership Enterprise (Limited Partnership). Wuhu Token Sciences Co., Ltd. (SZSE:300088) agreed to acquire remaining 43.86% stake in Hybio Pharmaceutical Co., Ltd. (SZSE : 300199) from Anhui Province Railway Development Fund Co.,Ltd. and Wuhu Xinzhen Equity Investment Partnership Enterprise (Limited Partnership) on February 13, 2023. Under the terms, consideration will be paid in cash and Wuhu Token will issue at CNY 5.17 per share. Proceeds from the transaction will be used for projects under construction, and supplement the Hybio Pharmaceutical's working capitals and repay debt, wherein the supplement working capitals and repay debt will be not more than 25% of the acquisition price and not more than 50% of the total proceeds. Transaction is approved by Wuhu Token's board of directors and it subject to approval by shareholders approval. For the period, September 30, 2022, Hybio Pharmaceutical had CNY 2356.2299 million of total assets and CNY 769.1991 million of net assets. Aankondiging • Feb 14
Wuhu Token Sciences Co., Ltd. announced a financing transaction Wuhu Token Sciences Co., Ltd. announced a private placement of common shares on February 13, 2023. The transaction was approved by the board of directors of the company at its 27th Meeting of the Company’s 6th Directorate and subjct to Shareholders, Shenzhen Stock Exchange’s Approval and CSRC. The shares cannot be transferred within 6 months from the issuance closing date. Price Target Changed • Nov 16
Price target decreased to CN¥9.23 Down from CN¥10.13, the current price target is an average from 3 analysts. New target price is 39% above last closing price of CN¥6.64. Stock is down 45% over the past year. The company is forecast to post earnings per share of CN¥0.33 for next year compared to CN¥0.37 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Zhengdong 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. Major Estimate Revision • Oct 31
Consensus revenue estimates fall by 12% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥8.35b to CN¥7.36b. EPS estimate fell from CN¥0.38 to CN¥0.32 per share. Net income forecast to grow 69% next year vs 50% growth forecast for Electronic industry in China. Consensus price target down from CN¥10.13 to CN¥9.23. Share price was steady at CN¥6.25 over the past week. Reported Earnings • Oct 25
Third quarter 2022 earnings: EPS misses analyst expectations Third quarter 2022 results: EPS: CN¥0.089 (down from CN¥0.14 in 3Q 2021). Revenue: CN¥1.97b (up 7.5% from 3Q 2021). Net income: CN¥218.5m (down 34% from 3Q 2021). Profit margin: 11% (down from 18% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 44%. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 5% per year. Reported Earnings • Sep 04
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: EPS: CN¥0.075 (down from CN¥0.096 in 2Q 2021). Revenue: CN¥1.50b (down 12% from 2Q 2021). Net income: CN¥183.3m (down 22% from 2Q 2021). Profit margin: 12% (down from 14% in 2Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 9.2%. Earnings per share (EPS) also missed analyst estimates by 20%. Over the next year, revenue is forecast to grow 45%, compared to a 27% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 4% per year. Buying Opportunity • Jul 15
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 1.3%. The fair value is estimated to be CN¥8.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.9% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 61% in 2 years. Earnings is forecast to grow by 89% in the next 2 years. Price Target Changed • Jul 11
Price target decreased to CN¥12.87 Down from CN¥14.20, the current price target is an average from 5 analysts. New target price is 82% above last closing price of CN¥7.07. Stock is down 17% over the past year. The company is forecast to post earnings per share of CN¥0.51 for next year compared to CN¥0.37 last year. Major Estimate Revision • Jul 11
Consensus revenue estimates fall by 10% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥9.50b to CN¥8.52b. EPS estimate fell from CN¥0.54 to CN¥0.46 per share. Net income forecast to grow 52% next year vs 43% growth forecast for Electronic industry in China. Consensus price target of CN¥14.03 unchanged from last update. Share price fell 3.0% to CN¥7.07 over the past week. Price Target Changed • Jun 24
Price target increased to CN¥17.25 Up from CN¥14.20, the current price target is an average from 4 analysts. New target price is 138% above last closing price of CN¥7.25. Stock is down 14% over the past year. The company is forecast to post earnings per share of CN¥0.48 for next year compared to CN¥0.37 last year. Aankondiging • May 27
Wuhu Token Sciences Co., Ltd. Implements Final Distribution Plan for A Shares for 2021, Payable on June 1, 2022 Wuhu Token Sciences Co., Ltd. implemented final distribution plan for A shares of cash dividend per 10 shares (tax included) of CNY 0.49999400 for 2021. Record date is 31 May 2022, Ex-date is 01 June 2022. Payment date is June 1, 2022. Aankondiging • May 19
Wuhu Token Sciences Declares Profit Distribution for 2021 Wuhu Token Sciences Co., Ltd., at its AGM held on May 17, 2022, declared a profit distribution of CNY 0.50 per 10 shares (tax included) for 2021. Price Target Changed • Apr 27
Price target increased to CN¥14.20 Up from CN¥9.77, the current price target is an average from 6 analysts. New target price is 139% above last closing price of CN¥5.95. Stock is down 20% over the past year. The company is forecast to post earnings per share of CN¥0.57 for next year compared to CN¥0.37 last year. Board Change • Apr 27
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. 7 non-independent directors. Independent Director Zhengdong 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. Aankondiging • Apr 26
Wuhu Token Sciences Co., Ltd. Announces Profit Distribution Proposal for 2021 Wuhu Token Sciences Co., Ltd. announced on 25 April 2022 the profit distribution proposal for 2021 as follows: Cash dividend/10 shares (tax included) of CNY 0.50000000. Buying Opportunity • Mar 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be CN¥11.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% per annum over the last 3 years. Earnings per share has grown by 3.1% per annum over the last 3 years. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥13.50, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 31x in the Electronic industry in China. Total returns to shareholders of 242% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥20.04 per share. Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment improved over the past week After last week's 31% share price gain to CN¥10.26, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 26x in the Electronic industry in China. Total returns to shareholders of 115% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥19.49 per share. Price Target Changed • Oct 28
Price target increased to CN¥10.87 Up from CN¥9.77, the current price target is an average from 4 analysts. New target price is 7.2% above last closing price of CN¥10.14. Stock is up 1.8% over the past year. The company is forecast to post earnings per share of CN¥0.42 for next year compared to CN¥0.34 last year. Reported Earnings • Oct 23
Third quarter 2021 earnings released: EPS CN¥0.14 (vs CN¥0.13 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: CN¥1.83b (down 2.8% from 3Q 2020). Net income: CN¥332.3m (up 8.8% from 3Q 2020). Profit margin: 18% (up from 16% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 10
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥8.65, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 29x in the Electronic industry in China. Total returns to shareholders of 81% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥16.87 per share. Price Target Changed • Sep 02
Price target decreased to CN¥8.70 Down from CN¥9.77, the current price target is an average from 3 analysts. New target price is 24% above last closing price of CN¥7.00. Stock is down 42% over the past year. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS CN¥0.096 (vs CN¥0.12 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥1.70b (down 3.4% from 2Q 2020). Net income: CN¥235.6m (down 21% from 2Q 2020). Profit margin: 14% (down from 17% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 9% per year. Aankondiging • Apr 29
Wuhu Token Sciences Co., Ltd. Announces Profit Distribution Proposal for 2020 Wuhu Token Sciences Co., Ltd. announced profit distribution proposal for 2020 a cash dividend of CNY 1.0 per 10 shares (tax included). Reported Earnings • Apr 28
Full year 2020 earnings released: EPS CN¥0.34 (vs CN¥0.37 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¥6.84b (up 14% from FY 2019). Net income: CN¥834.2m (down 1.3% from FY 2019). Profit margin: 12% (down from 14% in FY 2019). The decrease in margin was driven by higher expenses. 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 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥7.70, the stock is trading at a trailing P/E ratio of 19.8x, down from the previous P/E ratio of 23.5x. This compares to an average P/E of 40x in the Electronic industry in China. Total returns to shareholders over the past three years are 20%. Is New 90 Day High Low • Jan 25
New 90-day low: CN¥8.24 The company is down 19% from its price of CN¥10.17 on 27 October 2020. The Chinese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥2.98 per share. Is New 90 Day High Low • Jan 07
New 90-day low: CN¥8.53 The company is down 19% from its price of CN¥10.50 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 Electronic industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥2.97 per share.