Board Change • Jul 01
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. 6 experienced directors. 3 highly experienced directors. Non-Independent Director Shufeng Zhao was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 30
Feilong Auto Components Co., Ltd. to Report First Half, 2026 Results on Aug 21, 2026 Feilong Auto Components Co., Ltd. announced that they will report first half, 2026 results on Aug 21, 2026 Declared Dividend • Jun 15
Dividend of CN¥0.30 announced Shareholders will receive a dividend of CN¥0.30. Ex-date: 18th June 2026 Payment date: 18th 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 (68% 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 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 148% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 12
Feilong Auto Components Co., Ltd. Announces Final Cash Dividend on A Shares for 2025, Payable on 18 June 2026 Feilong Auto Components Co., Ltd. has announced the implementation of its final profit distribution plan for 2025, declaring a cash dividend of CNY 3.00000000 per 10 shares (tax included) on A shares. No bonus shares will be issued from profit or capital reserve. The record date is 17 June 2026, with the ex-date on 18 June 2026 and the payment date scheduled for 18 June 2026. Reported Earnings • Apr 23
First quarter 2026 earnings released: EPS: CN¥0.10 (vs CN¥0.21 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.10 (down from CN¥0.21 in 1Q 2025). Revenue: CN¥1.07b (down 3.4% from 1Q 2025). Net income: CN¥57.8m (down 53% from 1Q 2025). Profit margin: 5.4% (down from 11% in 1Q 2025). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥33.56, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 21x in the Auto Components industry in China. Total returns to shareholders of 236% over the past three years. Announcement • Mar 31
Feilong Auto Components Co., Ltd. to Report Q1, 2026 Results on Apr 23, 2026 Feilong Auto Components Co., Ltd. announced that they will report Q1, 2026 results on Apr 23, 2026 Reported Earnings • Mar 20
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.55 (down from CN¥0.57 in FY 2024). Revenue: CN¥4.54b (down 3.8% from FY 2024). Net income: CN¥316.9m (down 3.9% from FY 2024). Profit margin: 7.0% (in line with FY 2024). Revenue missed analyst estimates by 6.8%. Earnings per share (EPS) also missed analyst estimates by 21%. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 19
Feilong Auto Components Co., Ltd., Annual General Meeting, Apr 22, 2026 Feilong Auto Components Co., Ltd., Annual General Meeting, Apr 22, 2026, at 10:30 China Standard Time. Location: Office Building, No. 299, Gongye Avenue, Xixia County, Henan China Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥34.60, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 21x in the Auto Components industry in China. Total returns to shareholders of 303% over the past three years. New Risk • Mar 02
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 10% 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 (10% average weekly change). High level of non-cash earnings (24% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥34.65, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 23x in the Auto Components industry in China. Total returns to shareholders of 278% over the past three years. Announcement • Dec 31
Feilong Auto Components Co., Ltd. to Report Fiscal Year 2025 Results on Mar 20, 2026 Feilong Auto Components Co., Ltd. announced that they will report fiscal year 2025 results on Mar 20, 2026 Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥24.75, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 21x in the Auto Components industry in China. Total returns to shareholders of 245% over the past three years. Reported Earnings • Oct 22
Third quarter 2025 earnings released: EPS: CN¥0.13 (vs CN¥0.14 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.13 (down from CN¥0.14 in 3Q 2024). Revenue: CN¥1.08b (down 4.7% from 3Q 2024). Net income: CN¥76.3m (down 7.9% from 3Q 2024). Profit margin: 7.1% (down from 7.3% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 38% per year whereas the company’s share price has increased by 41% per year. Announcement • Sep 30
Feilong Auto Components Co., Ltd. to Report Q3, 2025 Results on Oct 22, 2025 Feilong Auto Components Co., Ltd. announced that they will report Q3, 2025 results on Oct 22, 2025 New Risk • Aug 13
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 6.6% 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 (6.6% average weekly change). Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥19.59, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 20x in the Auto Components industry in China. Total returns to shareholders of 127% over the past three years. Reported Earnings • Jul 24
Second quarter 2025 earnings released: EPS: CN¥0.16 (vs CN¥0.11 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.16 (up from CN¥0.11 in 2Q 2024). Revenue: CN¥1.05b (down 6.6% from 2Q 2024). Net income: CN¥87.8m (up 36% from 2Q 2024). Profit margin: 8.3% (up from 5.8% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Announcement • Jul 02
Feilong Auto Components Co., Ltd. to Report First Half, 2025 Results on Jul 23, 2025 Feilong Auto Components Co., Ltd. announced that they will report first half, 2025 results on Jul 23, 2025 Declared Dividend • Jun 09
Dividend of CN¥0.30 announced Shareholders will receive a dividend of CN¥0.30. Ex-date: 13th June 2025 Payment date: 13th June 2025 Dividend yield will be 2.8%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (69% 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 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 69% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 19
First quarter 2025 earnings released: EPS: CN¥0.21 (vs CN¥0.21 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.21 (up from CN¥0.21 in 1Q 2024). Revenue: CN¥1.11b (down 11% from 1Q 2024). Net income: CN¥122.6m (up 3.1% from 1Q 2024). Profit margin: 11% (up from 9.6% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 28% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Announcement • Apr 19
Feilong Auto Components Co., Ltd. Approves Dividend for the Year 2024 Feilong Auto Components Co., Ltd. approved at its AGM held on 17 April 2025 the cash dividend/10 shares (tax included) of CNY 3.00000000 for the year 2024. Buy Or Sell Opportunity • Apr 10
Now 21% overvalued Over the last 90 days, the stock has fallen 7.6% to CN¥12.69. The fair value is estimated to be CN¥10.45, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 53%. Revenue is forecast to grow by 63% in 2 years. Earnings are forecast to grow by 87% in the next 2 years. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to CN¥11.78, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 18x in the Auto Components industry in China. Total returns to shareholders of 112% over the past three years. New Risk • Apr 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 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 Risk Share price has been highly volatile over the past 3 months (9.7% average weekly change). Minor Risk Dividend is not well covered by cash flows (229% cash payout ratio). Announcement • Mar 31
Feilong Auto Components Co., Ltd. to Report Q1, 2025 Results on Apr 18, 2025 Feilong Auto Components Co., Ltd. announced that they will report Q1, 2025 results on Apr 18, 2025 Announcement • Mar 20
Feilong Auto Components Co., Ltd., Annual General Meeting, Apr 17, 2025 Feilong Auto Components Co., Ltd., Annual General Meeting, Apr 17, 2025, at 15:30 China Standard Time. Location: 2F, Office Building, No. 299, Gongye Avenue, Xixia County, Henan China Reported Earnings • Feb 26
Full year 2024 earnings released: EPS: CN¥0.57 (vs CN¥0.50 in FY 2023) Full year 2024 results: EPS: CN¥0.57 (up from CN¥0.50 in FY 2023). Revenue: CN¥4.72b (up 15% from FY 2023). Net income: CN¥329.4m (up 26% from FY 2023). Profit margin: 7.0% (up from 6.4% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 53% 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 • Feb 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥16.87, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 23x in the Auto Components industry in China. Total returns to shareholders of 146% over the past three years. New Risk • Feb 13
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 8.5% 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 (8.5% average weekly change). Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to CN¥13.74, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 18x in the Auto Components industry in China. Total returns to shareholders of 82% over the past three years. Announcement • Dec 31
Feilong Auto Components Co., Ltd. to Report Fiscal Year 2024 Results on Mar 20, 2025 Feilong Auto Components Co., Ltd. announced that they will report fiscal year 2024 results on Mar 20, 2025 Announcement • Nov 02
Feilong Auto Components Co., Ltd Approves Cash Dividend for the Third Quarter of 2024 Feilong Auto Components Co., Ltd. at its Extraordinary General Meeting of 2024 held on 31 October 2024, approved the 2024 3rd quarter profit distribution plan Cash dividend/10 shares (tax included): CNY 1.00000000. Announcement • Oct 18
Feilong Auto Components Co., Ltd. Proposes Cash Dividend for the Third Quarter of 2024 Feilong Auto Components Co., Ltd. announced on 15 October 2024 the profit distribution proposal for the third quarter of 2024 as follows: Cash dividend per 10 shares (tax included) of CNY 1.00000000. Reported Earnings • Oct 15
Third quarter 2024 earnings released: EPS: CN¥0.14 (vs CN¥0.17 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.14. Revenue: CN¥1.13b (up 1.8% from 3Q 2023). Net income: CN¥82.8m (flat on 3Q 2023). Profit margin: 7.3% (down from 7.4% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Auto Components industry in China. Announcement • Sep 30
Feilong Auto Components Co., Ltd. to Report Q3, 2024 Results on Oct 15, 2024 Feilong Auto Components Co., Ltd. announced that they will report Q3, 2024 results on Oct 15, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥10.46, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the Auto Components industry in China. Total returns to shareholders of 44% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥7.24 per share. Buy Or Sell Opportunity • Sep 19
Now 22% overvalued Over the last 90 days, the stock has fallen 9.2% to CN¥8.93. The fair value is estimated to be CN¥7.30, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 55% in 2 years. Earnings are forecast to grow by 82% in the next 2 years. Buy Or Sell Opportunity • Sep 03
Now 21% overvalued Over the last 90 days, the stock has fallen 15% to CN¥8.80. The fair value is estimated to be CN¥7.26, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 55% in 2 years. Earnings are forecast to grow by 82% in the next 2 years. Buy Or Sell Opportunity • Aug 06
Now 21% overvalued Over the last 90 days, the stock has fallen 25% to CN¥8.84. The fair value is estimated to be CN¥7.32, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 55% in 2 years. Earnings are forecast to grow by 82% in the next 2 years. Reported Earnings • Jul 26
Second quarter 2024 earnings released: EPS: CN¥0.11 (vs CN¥0.14 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.11 (down from CN¥0.14 in 2Q 2023). Revenue: CN¥1.13b (up 12% from 2Q 2023). Net income: CN¥64.8m (down 13% from 2Q 2023). Profit margin: 5.8% (down from 7.4% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Jun 29
Feilong Auto Components Co., Ltd. to Report First Half, 2024 Results on Jul 26, 2024 Feilong Auto Components Co., Ltd. announced that they will report first half, 2024 results on Jul 26, 2024 Declared Dividend • Jun 08
Dividend increased to CN¥0.30 Dividend of CN¥0.30 is 50% higher than last year. Ex-date: 14th June 2024 Payment date: 14th June 2024 Dividend yield will be 2.9%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 22% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 08
Feilong Auto Components Co., Ltd. Announces Final Dividend on A Shares for the Year 2023, Payable on 14 June 2024 Feilong Auto Components Co., Ltd. announced final cash dividend/10 shares (tax included) of CNY 3.00000000 on A shares for the year 2023. Record date is 13 June 2024. Ex-date is 14 June 2024. Payment date is 14 June 2024. Reported Earnings • Apr 14
First quarter 2024 earnings released: EPS: CN¥0.21 (vs CN¥0.12 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.21 (up from CN¥0.12 in 1Q 2023). Revenue: CN¥1.24b (up 31% from 1Q 2023). Net income: CN¥119.0m (up 76% from 1Q 2023). Profit margin: 9.6% (up from 7.2% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 30
Feilong Auto Components Co., Ltd. to Report Q1, 2024 Results on Apr 12, 2024 Feilong Auto Components Co., Ltd. announced that they will report Q1, 2024 results on Apr 12, 2024 Buy Or Sell Opportunity • Mar 12
Now 23% overvalued The stock has been flat over the last 90 days, currently trading at CN¥13.39. The fair value is estimated to be CN¥10.88, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 9.0%. Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: CN¥0.50 (vs CN¥0.17 in FY 2022) Full year 2023 results: EPS: CN¥0.50 (up from CN¥0.17 in FY 2022). Revenue: CN¥4.09b (up 26% from FY 2022). Net income: CN¥261.7m (up 211% from FY 2022). Profit margin: 6.4% (up from 2.6% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥9.20, the stock trades at a trailing P/E ratio of 21.1x. Average trailing P/E is 26x in the Auto Components industry in China. Total returns to shareholders of 96% over the past three years. Valuation Update With 7 Day Price Move • Jan 18
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥12.52, the stock trades at a trailing P/E ratio of 28.7x. Average trailing P/E is 32x in the Auto Components industry in China. Total returns to shareholders of 131% over the past three years. Announcement • Dec 30
Feilong Auto Components Co., Ltd. to Report Fiscal Year 2023 Results on Apr 12, 2024 Feilong Auto Components Co., Ltd. announced that they will report fiscal year 2023 results on Apr 12, 2024 New Risk • Dec 05
New major risk - Revenue and earnings growth Earnings have declined by 5.5% 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 Risk Earnings have declined by 5.5% per year over the past 5 years. 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 (7.9% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥17.35, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 20x in the Auto Components industry in China. Total returns to shareholders of 191% over the past three years. New Risk • Oct 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. 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 (6.7% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: CN¥0.17 (vs CN¥0.069 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.17 (up from CN¥0.069 in 3Q 2022). Revenue: CN¥1.11b (up 24% from 3Q 2022). Net income: CN¥82.3m (up 142% from 3Q 2022). Profit margin: 7.4% (up from 3.8% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥15.09, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 23x in the Auto Components industry in China. Total returns to shareholders of 169% over the past three years. Reported Earnings • Aug 28
Second quarter 2023 earnings released: EPS: CN¥0.14 (vs CN¥0.029 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.14 (up from CN¥0.029 in 2Q 2022). Revenue: CN¥1.01b (up 41% from 2Q 2022). Net income: CN¥74.4m (up 385% from 2Q 2022). Profit margin: 7.4% (up from 2.1% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥16.84, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 25x in the Auto Components industry in China. Total returns to shareholders of 150% over the past three years. Announcement • Jun 13
Feilong Auto Components Co., Ltd. Approves Board Appointments Feilong Auto Components Co., Ltd. at its Extraordinary General Meeting held on 09 June 2023, approved election of Liu Hongyu, Li Jiang and Zhao Shufeng as non-independent directors and election of Hou Xiangyang as independent director. New Risk • Jun 13
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 6.9% 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 (6.9% average weekly change). Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥12.73, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 21x in the Auto Components industry in China. Total returns to shareholders of 94% over the past three years. Announcement • May 23
Feilong Auto Components Co., Ltd. Approves Cash Dividend for the Year 2022 Feilong Auto Components Co., Ltd. approved cash dividend/10 shares (tax included) of CNY 2.00000000 for the year 2022 at its AGM held on 19 May 2023. Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: CN¥0.14 (vs CN¥0.02 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.14 (up from CN¥0.02 in 1Q 2022). Revenue: CN¥945.8m (up 17% from 1Q 2022). Net income: CN¥67.8m (up CN¥59.1m from 1Q 2022). Profit margin: 7.2% (up from 1.1% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 29% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥10.80, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 24x in the Auto Components industry in China. Total returns to shareholders of 130% over the past three years. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.069 (vs CN¥0.049 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.069 (up from CN¥0.049 in 3Q 2021). Revenue: CN¥892.6m (up 29% from 3Q 2021). Net income: CN¥34.0m (up 37% from 3Q 2021). Profit margin: 3.8% (up from 3.6% in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: CN¥0.029 (vs CN¥0.14 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.029 (down from CN¥0.14 in 2Q 2021). Revenue: CN¥715.2m (down 14% from 2Q 2021). Net income: CN¥15.3m (down 79% from 2Q 2021). Profit margin: 2.1% (down from 8.7% in 2Q 2021). 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 11% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 24
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥8.15, the stock trades at a trailing P/E ratio of 53.3x. Average trailing P/E is 54x in the Auto Components industry in China. Total returns to shareholders of 79% over the past three years. Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥7.99, the stock trades at a trailing P/E ratio of 52.2x. Average trailing P/E is 52x in the Auto Components industry in China. Total returns to shareholders of 65% over the past three years. Announcement • Jul 27
Feilong Auto Components Co., Ltd. announced that it expects to receive CNY 780 million in funding from Henan Wanxi Holding Co., Ltd. Feilong Auto Components Co., Ltd. (SZSE:002536) announced a private placement of no more than 150,213,544 A shares for gross processed of CNY 780,000,000 on July 25, 2022. The transaction will include participation from total of not more than 35 special investors, including the company's controlling shareholder Henan Wanxi Holding Co., Ltd. and its concerted action person Sun Yaozhong. The subscription ratio of Henan Wanxi Holding Co., Ltd. is 5% of the upper limit and Sun Yaozhong is 1% of the upper limit of the issuance amount approved by the China Securities Regulatory Commission. If the subscription amount is not an integer, it shall be adjusted downward to an integer. After the completion of this issuance, the controlling shareholder and actual controller of the company will not change. The company signed the Conditional Share Subscription Contract with Henan Wanxi Holding Co., Ltd.and Sun Yaozhong respectively. For Henan Wanxi Holding Co., Ltd. and Sun Yaozhong the lock-up period is 18 months and for the rest of the investors is 6 months. The resolution of this issuance is valid for 12 months from the date of deliberation and approval by the company's shareholders meeting. The types of shares issued in this transaction are domestically listed ordinary A shares with a par value of CNY 1. The pricing base date of this transaction is the first day of the issue period, and the issue price is not less than 80% of the average price of the company's stocks 20 trading days before the first day of the issue period. The number of non-publicly issued shares does not exceed 30% of the company's total share capital before the issuance. The transaction has been approved by at the eighth (temporary) meeting of the seventh board of directors and still needs to be submitted to the company's general meeting for deliberation and approval, and can only be implemented after being approved by the China Securities Regulatory Commission. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥7.00, the stock trades at a trailing P/E ratio of 45.7x. Average trailing P/E is 45x in the Auto Components industry in China. Total returns to shareholders of 14% over the past three years. Announcement • Jun 17
Feilong Auto Components Co., Ltd. Implements Cash Dividend, Payable on 24 June 2022 Feilong Auto Components Co., Ltd. announced 2021 final profit distribution plan to be implemented (A shares) as Cash dividend/10 shares (tax included): CNY 1.00000000. Record date as 23 June 2022, ex-date as 24 June 2022 and payment date as 24 June 2022. Valuation Update With 7 Day Price Move • May 23
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥6.29, the stock trades at a trailing P/E ratio of 41.1x. Average trailing P/E is 39x in the Auto Components industry in China. Total returns to shareholders of 1.8% over the past three years. Announcement • May 19
Feilong Auto Components Co., Ltd. Approves 2021 Profit Distribution Plan Feilong Auto Components Co., Ltd. held its Annual General Meeting of 2021 on 16 May 2022 the company approved Cash dividend/10 shares (tax included) of CNY 1.00000000. Reported Earnings • Apr 27
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CN¥0.02 (down from CN¥0.15 in 1Q 2021). Revenue: CN¥811.9m (down 11% from 1Q 2021). Net income: CN¥8.72m (down 88% from 1Q 2021). Profit margin: 1.1% (down from 8.2% in 1Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 19%. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Apr 24
Feilong Auto Components Co., Ltd., Annual General Meeting, May 16, 2022 Feilong Auto Components Co., Ltd., Annual General Meeting, May 16, 2022, at 15:30 China Standard Time. Agenda: To consider 2021 work report of the board of directors; to consider 2021 work report of the supervisory committee; to consider 2021 annual accounts; to consider 2021 annual report and its summary; to consider Reappointment of audit firm; to consider Application for comprehensive credit line to banks; and to consider any other matters. Announcement • Apr 23
Feilong Auto Components Co., Ltd. Proposes Final Dividend for 2021 Feilong Auto Components Co., Ltd. announced on 22 April 2022 the profit distribution proposal for 2021 of CNY 1.00000000 per 10 shares (tax included). Reported Earnings • Feb 28
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥0.28 (up from CN¥0.25 in FY 2020). Revenue: CN¥3.12b (up 17% from FY 2020). Net income: CN¥142.5m (up 15% from FY 2020). Profit margin: 4.6% (down from 4.7% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 19%. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 1% per year. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.049 (vs CN¥0.09 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥692.0m (down 1.9% from 3Q 2020). Net income: CN¥24.8m (down 43% from 3Q 2020). Profit margin: 3.6% (down from 6.1% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥8.01, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 32x in the Auto Components industry in China. Total returns to shareholders of 26% over the past three years. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS CN¥0.14 (vs CN¥0.029 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥835.4m (up 55% from 2Q 2020). Net income: CN¥72.6m (up 423% from 2Q 2020). Profit margin: 8.7% (up from 2.6% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥8.92, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 31x in the Auto Components industry in China. Total returns to shareholders of 28% over the past three years.