Announcement • Jun 30
Foryou Corporation to Report First Half, 2026 Results on Aug 20, 2026 Foryou Corporation announced that they will report first half, 2026 results on Aug 20, 2026 Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥29.19, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 20x in the Auto Components industry in China. Total loss to shareholders of 10% over the past three years. Declared Dividend • May 04
Dividend increased to CN¥0.50 Dividend of CN¥0.50 is 4.2% higher than last year. Ex-date: 8th May 2026 Payment date: 8th May 2026 Dividend yield will be 1.7%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (33% earnings payout ratio) but not covered by cash flows (383% cash payout ratio). The dividend has increased by an average of 9.1% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 68% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Apr 17
Now 21% overvalued Over the last 90 days, the stock has fallen 5.9% to CN¥31.89. The fair value is estimated to be CN¥26.33, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 22%. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. Major Estimate Revision • Apr 03
Consensus EPS estimates fall by 13% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from CN¥2.07 to CN¥1.79 per share. Revenue forecast steady at CN¥15.4b. Net income forecast to grow 21% next year vs 33% growth forecast for Auto Components industry in China. Consensus price target broadly unchanged at CN¥41.64. Share price was steady at CN¥27.78 over the past week. Announcement • Mar 31
Foryou Corporation to Report Q1, 2026 Results on Apr 25, 2026 Foryou Corporation announced that they will report Q1, 2026 results on Apr 25, 2026 Reported Earnings • Mar 29
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: CN¥1.49 (up from CN¥1.24 in FY 2024). Revenue: CN¥13.0b (up 28% from FY 2024). Net income: CN¥781.6m (up 20% from FY 2024). Profit margin: 6.0% (down from 6.4% in FY 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) missed analyst estimates by 7.6%. Revenue is forecast to grow 11% 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 22% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Mar 28
Foryou Corporation, Annual General Meeting, Apr 24, 2026 Foryou Corporation, Annual General Meeting, Apr 24, 2026, at 15:30 China Standard Time. Location: The Company's Meeting Room, Huizhou, Guangdong China Announcement • Dec 31
Foryou Corporation to Report Fiscal Year 2025 Results on Mar 28, 2026 Foryou Corporation announced that they will report fiscal year 2025 results on Mar 28, 2026 Reported Earnings • Oct 28
Third quarter 2025 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2025 results: EPS: CN¥0.42 (up from CN¥0.34 in 3Q 2024). Revenue: CN¥3.48b (up 31% from 3Q 2024). Net income: CN¥220.0m (up 24% from 3Q 2024). Profit margin: 6.3% (down from 6.7% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% 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 22% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Foryou Corporation to Report Q3, 2025 Results on Oct 28, 2025 Foryou Corporation announced that they will report Q3, 2025 results on Oct 28, 2025 Announcement • Sep 08
Foryou Corporation Announces Changes to Its Board Foryou Corporation at its Extraordinary General Meeting of 2025 held on 5 September 2025 approved the Election of non-independent directors, cumulative voting system applicable: Zou Ganrong, non-independent director, Lin Yuanhui, non-independent director, Zhang Yuanze, non-independent director, Wu Wei, non-independent director, Li Daoyong, non-independent director, Sun Yongdi, non-independent director and Election of independent directors, cumulative voting system applicable: Li Changqing, independent director, Feng Guocan, independent director and Qiu Meilan, independent director. Reported Earnings • Aug 20
Second quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2025 results: EPS: CN¥0.35 (up from CN¥0.28 in 2Q 2024). Revenue: CN¥2.82b (up 28% from 2Q 2024). Net income: CN¥185.9m (up 28% from 2Q 2024). Profit margin: 6.6% (in line with 2Q 2024). Revenue missed analyst estimates by 21%. Earnings per share (EPS) exceeded analyst estimates by 2.9%. Revenue is forecast to grow 14% 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 23% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Jul 02
Foryou Corporation to Report First Half, 2025 Results on Aug 20, 2025 Foryou Corporation announced that they will report first half, 2025 results on Aug 20, 2025 New Risk • Apr 26
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Buy Or Sell Opportunity • Apr 09
Now 22% overvalued Over the last 90 days, the stock has fallen 6.4% to CN¥28.00. The fair value is estimated to be CN¥22.91, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 24%. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥29.25, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 21x in the Auto Components industry in China. Total loss to shareholders of 7.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥22.65 per share. Announcement • Apr 01
Foryou Corporation Proposes Final Cash Dividend for the Year 2024 Foryou Corporation announced on 31 March 2025 the profit distribution proposal for 2024: Cash dividend (tax included) of CNY 4.80000000 per 10 shares. Announcement • Mar 31
Foryou Corporation to Report Q1, 2025 Results on Apr 26, 2025 Foryou Corporation announced that they will report Q1, 2025 results on Apr 26, 2025 Reported Earnings • Mar 30
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: CN¥1.24 (up from CN¥0.94 in FY 2023). Revenue: CN¥10.2b (up 42% from FY 2023). Net income: CN¥651.4m (up 40% from FY 2023). Profit margin: 6.4% (down from 6.5% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 6.1%. Earnings per share (EPS) missed analyst estimates by 1.3%. Revenue is forecast to grow 11% p.a. on average during the next 3 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 24% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Mar 29
Foryou Corporation, Annual General Meeting, Apr 25, 2025 Foryou Corporation, Annual General Meeting, Apr 25, 2025, at 15:00 China Standard Time. Location: Group Office Building, Zone A, No. 1, Shangxia North Road, Dongjiang High-tech Industrial Park, Huizhou, Guangdong China Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥34.10, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 21x in the Auto Components industry in China. Total loss to shareholders of 22% over the past three years. Price Target Changed • Jan 29
Price target increased by 8.5% to CN¥41.31 Up from CN¥38.07, the current price target is an average from 11 analysts. New target price is 39% above last closing price of CN¥29.65. Stock is up 37% over the past year. The company is forecast to post earnings per share of CN¥1.25 for next year compared to CN¥0.94 last year. Announcement • Dec 31
Foryou Corporation to Report Fiscal Year 2024 Results on Mar 29, 2025 Foryou Corporation announced that they will report fiscal year 2024 results on Mar 29, 2025 Price Target Changed • Oct 29
Price target increased by 9.2% to CN¥40.28 Up from CN¥36.87, the current price target is an average from 10 analysts. New target price is 32% above last closing price of CN¥30.63. Stock is down 8.0% over the past year. The company is forecast to post earnings per share of CN¥1.29 for next year compared to CN¥0.94 last year. Reported Earnings • Oct 29
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: CN¥0.34 (up from CN¥0.24 in 3Q 2023). Revenue: CN¥2.65b (up 37% from 3Q 2023). Net income: CN¥177.8m (up 54% from 3Q 2023). Profit margin: 6.7% (up from 6.0% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 9.1%. Earnings per share (EPS) also surpassed analyst estimates by 9.7%. Revenue is forecast to grow 12% p.a. on average during the next 3 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 22% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Foryou Corporation to Report Q3, 2024 Results on Oct 29, 2024 Foryou Corporation announced that they will report Q3, 2024 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥30.30, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 15x in the Auto Components industry in China. Total loss to shareholders of 14% over the past three years. Reported Earnings • Aug 20
Second quarter 2024 earnings: EPS in line with expectations, revenues disappoint Second quarter 2024 results: EPS: CN¥0.28 (up from CN¥0.22 in 2Q 2023). Revenue: CN¥2.20b (up 42% from 2Q 2023). Net income: CN¥144.6m (up 39% from 2Q 2023). Profit margin: 6.6% (down from 6.7% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 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 21% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥30.17, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 15x in the Auto Components industry in China. Total loss to shareholders of 11% over the past three years. Announcement • Jun 29
Foryou Corporation to Report First Half, 2024 Results on Aug 20, 2024 Foryou Corporation announced that they will report first half, 2024 results on Aug 20, 2024 Announcement • Jun 13
Foryou Corporation Approves 2023 Final Dividend for A Shares, Payable on 19 June 2024 Foryou Corporation approved 2023 final distribution plan to be implemented (A shares) cash dividend/10 shares tax included of CNY 3.50000000. Record date: 18 June 2024. Ex-date: 19 June 2024. Payment date: 19 June 2024. Reported Earnings • Apr 27
First quarter 2024 earnings released: EPS: CN¥0.27 (vs CN¥0.16 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.27 (up from CN¥0.16 in 1Q 2023). Revenue: CN¥1.99b (up 51% from 1Q 2023). Net income: CN¥142.3m (up 84% from 1Q 2023). Profit margin: 7.1% (up from 5.9% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Apr 03
Foryou Corporation Announces Cash Profit Distribution Proposal for 2023 Foryou Corporation announced on 01 April 2024 the profit distribution proposal for 2023 as Cash dividend/10 shares (tax included): CNY 3.50000000. Reported Earnings • Apr 01
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: CN¥0.94 (up from CN¥0.80 in FY 2022). Revenue: CN¥7.14b (up 27% from FY 2022). Net income: CN¥464.8m (up 22% from FY 2022). Profit margin: 6.5% (down from 6.7% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 6.7%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥25.78, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 18x in the Auto Components industry in China. Total loss to shareholders of 8.9% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥11.95 per share. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥19.05, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 15x in the Auto Components industry in China. Total loss to shareholders of 46% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥10.65 per share. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥29.56, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 19x in the Auto Components industry in China. Total returns to shareholders of 27% over the past three years. Announcement • Dec 29
Foryou Corporation to Report Fiscal Year 2023 Results on Mar 30, 2024 Foryou Corporation announced that they will report fiscal year 2023 results on Mar 30, 2024 Reported Earnings • Oct 29
Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2023 results: EPS: CN¥0.24 (up from CN¥0.22 in 3Q 2022). Revenue: CN¥1.93b (up 27% from 3Q 2022). Net income: CN¥115.8m (up 11% from 3Q 2022). Profit margin: 6.0% (down from 6.8% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 5.0%. Revenue is forecast to grow 21% 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 29% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Foryou Corporation to Report Q3, 2023 Results on Oct 28, 2023 Foryou Corporation announced that they will report Q3, 2023 results on Oct 28, 2023 Major Estimate Revision • Aug 25
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥7.10b to CN¥6.87b. EPS estimate also fell from CN¥1.04 per share to CN¥0.919 per share. Net income forecast to grow 37% next year vs 48% growth forecast for Auto Components industry in China. Consensus price target down from CN¥39.41 to CN¥37.44. Share price fell 3.9% to CN¥28.35 over the past week. Reported Earnings • Aug 19
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: CN¥0.22 (up from CN¥0.19 in 2Q 2022). Revenue: CN¥1.55b (up 21% from 2Q 2022). Net income: CN¥104.2m (up 11% from 2Q 2022). Profit margin: 6.7% (down from 7.3% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 27%. Earnings per share (EPS) also missed analyst estimates by 32%. Revenue is forecast to grow 22% 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 increased by 36% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. New Risk • Jul 05
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 7.0% 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 Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.0% average weekly change). Announcement • Jul 01
Foryou Corporation to Report First Half, 2023 Results on Aug 19, 2023 Foryou Corporation announced that they will report first half, 2023 results on Aug 19, 2023 Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥31.50, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 23x in the Auto Components industry in China. Total returns to shareholders of 151% over the past three years. Announcement • May 18
Foryou Corporation Announces Final Dividend on A Shares for the Year 2022, Payable on May 24, 2023 Foryou Corporation announced final cash dividend/10 shares (tax included) of CNY 2.50000000 on A shares for the year 2022. Record date is May 23, 2023. Ex-date is May 24, 2023. Payment date is May 24, 2023. Price Target Changed • May 02
Price target decreased by 7.3% to CN¥42.54 Down from CN¥45.90, the current price target is an average from 8 analysts. New target price is 50% above last closing price of CN¥28.32. Stock is down 11% over the past year. The company is forecast to post earnings per share of CN¥1.07 for next year compared to CN¥0.80 last year. Reported Earnings • Apr 24
First quarter 2023 earnings released: EPS: CN¥0.16 (vs CN¥0.15 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.16 (up from CN¥0.15 in 1Q 2022). Revenue: CN¥1.32b (up 9.6% from 1Q 2022). Net income: CN¥77.5m (up 12% from 1Q 2022). Profit margin: 5.9% (in line with 1Q 2022). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 42% 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 • Jan 09
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥39.59, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 23x in the Auto Components industry in China. Total returns to shareholders of 205% over the past three years. Price Target Changed • Nov 06
Price target decreased to CN¥47.80 Down from CN¥51.60, the current price target is an average from 6 analysts. New target price is 16% above last closing price of CN¥41.20. Stock is down 15% over the past year. The company is forecast to post earnings per share of CN¥0.83 for next year compared to CN¥0.62 last year. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥41.20, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 25x in the Auto Components industry in China. Total returns to shareholders of 282% over the past three years. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.22 (vs CN¥0.15 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.22 (up from CN¥0.15 in 3Q 2021). Revenue: CN¥1.52b (up 41% from 3Q 2021). Net income: CN¥104.3m (up 46% from 3Q 2021). Profit margin: 6.8% (up from 6.6% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 54% per year whereas the company’s share price has increased by 51% per year. Announcement • Sep 08
Foryou Corporation Approves Election of Meng Qinghua as Non-Independent Directors, and Yuan Wenfeng as Independent Directors Foryou Corporation at its second extraordinary general meeting of 2022 held on 06 September 2022, approved the election of Meng Qinghua as non-independent directors, and the election of Yuan Wenfeng as independent directors. Price Target Changed • Aug 29
Price target increased to CN¥51.60 Up from CN¥47.67, the current price target is an average from 9 analysts. New target price is 6.6% above last closing price of CN¥48.42. Stock is up 21% over the past year. The company is forecast to post earnings per share of CN¥0.89 for next year compared to CN¥0.62 last year. Reported Earnings • Aug 23
Second quarter 2022 earnings released: EPS: CN¥0.19 (vs CN¥0.17 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.19 (up from CN¥0.17 in 2Q 2021). Revenue: CN¥1.29b (up 18% from 2Q 2021). Net income: CN¥93.6m (up 14% from 2Q 2021). Profit margin: 7.3% (down from 7.5% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 33%, compared to a 36% growth forecast for the Auto Components industry in China. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has increased by 66% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥52.26, the stock trades at a forward P/E ratio of 55x. Average forward P/E is 27x in the Auto Components industry in China. Total returns to shareholders of 408% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥23.97 per share. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥41.80, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 25x in the Auto Components industry in China. Total returns to shareholders of 299% over the past three years. Announcement • May 24
Foryou Corporation Announces Cash Dividend, Payable on May 30, 2022 Foryou Corporation announced 2021 final profit distribution plan to be implemented (A shares) as Cash dividend/10 shares (tax included): CNY 2.00000000. Record date as 27 May 2022, ex-date as 30 May 2022 and payment date as May 30, 2022. Announcement • May 20
Foryou Corporation Approves Cash Dividend for 2021 Foryou Corporation, at the Annual General Meeting of 2021 held on 18 May 2022 approved Cash dividend/10 shares (tax included) of CNY 2.00000000 for 2021. Major Estimate Revision • May 03
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥5.89b to CN¥5.81b. EPS estimate also fell from CN¥0.98 per share to CN¥0.88 per share. Net income forecast to grow 50% next year vs 62% growth forecast for Auto Components industry in China. Consensus price target down from CN¥61.06 to CN¥50.36. Share price rose 17% to CN¥31.84 over the past week. Valuation Update With 7 Day Price Move • May 03
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥31.84, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 21x in the Auto Components industry in China. Total returns to shareholders of 222% over the past three years. Announcement • Apr 28
Foryou Corporation Proposes Final Cash Dividend for 2021 Foryou Corporation proposed final cash dividend per 10 shares (tax included) of CNY 2.00000000 for 2021. Reported Earnings • Apr 28
First quarter 2022 earnings: EPS misses analyst expectations First quarter 2022 results: EPS: CN¥0.15 (up from CN¥0.12 in 1Q 2021). Revenue: CN¥1.20b (up 25% from 1Q 2021). Net income: CN¥69.2m (up 26% from 1Q 2021). Profit margin: 5.8% (up from 5.7% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 18%. Over the next year, revenue is forecast to grow 28%, compared to a 31% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
High number of new and inexperienced directors There are 10 new directors who have joined the board in the last 3 years. The company's board is composed of: 10 new directors. 1 experienced director. No highly experienced directors. Non-Independent Director Jingyuan Li is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Buying Opportunity • Apr 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 45%. The fair value is estimated to be CN¥38.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.3% over the last 3 years. Earnings per share has grown by 65%. Revenue is forecast to grow by 60% in 2 years. Earnings is forecast to grow by 89% in the next 2 years. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥31.99, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 20x in the Auto Components industry in China. Total returns to shareholders of 143% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥38.72 per share. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥42.15, the stock trades at a forward P/E ratio of 48x. Average forward P/E is 23x in the Auto Components industry in China. Total returns to shareholders of 263% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥38.26 per share. Price Target Changed • Jan 27
Price target increased to CN¥62.43 Up from CN¥56.49, the current price target is an average from 8 analysts. New target price is 18% above last closing price of CN¥53.11. Stock is up 54% over the past year. The company is forecast to post earnings per share of CN¥0.62 for next year compared to CN¥0.39 last year. Price Target Changed • Nov 02
Price target increased to CN¥48.62 Up from CN¥44.60, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of CN¥47.65. Stock is up 115% over the past year. The company is forecast to post earnings per share of CN¥0.65 for next year compared to CN¥0.39 last year. Reported Earnings • Oct 27
Third quarter 2021 earnings released: EPS CN¥0.15 (vs CN¥0.08 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥1.08b (up 19% from 3Q 2020). Net income: CN¥71.3m (up 90% from 3Q 2020). Profit margin: 6.6% (up from 4.1% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 65% per year whereas the company’s share price has increased by 63% per year. Price Target Changed • Oct 20
Price target increased to CN¥44.60 Up from CN¥41.00, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of CN¥43.52. Stock is up 138% over the past year. The company is forecast to post earnings per share of CN¥0.62 for next year compared to CN¥0.39 last year. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥41.72, the stock trades at a forward P/E ratio of 56x. Average forward P/E is 20x in the Auto Components industry in China. Total returns to shareholders of 322% over the past three years. Price Target Changed • Aug 26
Price target increased to CN¥41.00 Up from CN¥37.25, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of CN¥39.33. Stock is up 98% over the past year. Reported Earnings • Aug 25
Second quarter 2021 earnings released: EPS CN¥0.17 (vs CN¥0.068 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥1.09b (up 56% from 2Q 2020). Net income: CN¥81.8m (up 140% from 2Q 2020). Profit margin: 7.5% (up from 4.9% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 42% per year whereas the company’s share price has increased by 46% per year. Major Estimate Revision • Jul 16
Consensus revenue estimates increase to CN¥4.91b The consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from CN¥4.31b to CN¥4.91b. EPS estimate increased from CN¥0.55 to CN¥0.64 per share. Net income forecast to grow 41% next year vs 37% growth forecast for Auto Components industry in China. Consensus price target up from CN¥36.38 to CN¥37.25. Share price rose 8.1% to CN¥34.82 over the past week. Valuation Update With 7 Day Price Move • Jul 13
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥34.03, the stock trades at a forward P/E ratio of 55x. Average forward P/E is 21x in the Auto Components industry in China. Total returns to shareholders of 86% over the past three years. Announcement • May 22
Foryou Corporation Announces 2020 Final Distribution Plan to Be Implemented (A Shares), Payable on 28 May 2021 Foryou Corporation announced 2020 final distribution plan to be implemented (A shares). The company announced Cash dividend per 10 shares (tax included) is CNY 2.00000000. Record date: 27 May 2021. Ex-date: 28 May 2021. Payment date: 28 May 2021. Announcement • May 21
Foryou Corporation Approves Cash Dividend for the Year 2020 Foryou Corporation announced at its AGM held on May 18, 2021, the shareholders approved cash dividend/10 shares (tax included) of CNY 2.00000000 for the year 2020. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS CN¥0.12 (vs CN¥0.04 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥958.2m (up 88% from 1Q 2020). Net income: CN¥55.1m (up 211% from 1Q 2020). Profit margin: 5.7% (up from 3.5% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth.