New Risk • May 01
New major risk - Revenue and earnings growth Earnings have declined by 12% 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 12% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Apr 30
Full year 2025 earnings released: CN¥0.25 loss per share (vs CN¥0.10 profit in FY 2024) Full year 2025 results: CN¥0.25 loss per share (down from CN¥0.10 profit in FY 2024). Revenue: CN¥2.86b (up 16% from FY 2024). Net loss: CN¥190.8m (down 346% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Apr 29
Tianjin Pengling Group Co.,Ltd, Annual General Meeting, May 20, 2026 Tianjin Pengling Group Co.,Ltd, Annual General Meeting, May 20, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Tianjin China Announcement • Mar 31
Tianjin Pengling Group Co.,Ltd to Report Q1, 2026 Results on Apr 29, 2026 Tianjin Pengling Group Co.,Ltd announced that they will report Q1, 2026 results on Apr 29, 2026 Announcement • Dec 31
Tianjin Pengling Group Co.,Ltd to Report Fiscal Year 2025 Results on Apr 29, 2026 Tianjin Pengling Group Co.,Ltd announced that they will report fiscal year 2025 results on Apr 29, 2026 Board Change • Nov 08
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. 4 non-independent directors. Independent Director Qing Gao was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 28
Third quarter 2025 earnings released: EPS: CN¥0.025 (vs CN¥0.018 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.025 (up from CN¥0.018 in 3Q 2024). Revenue: CN¥669.3m (up 13% from 3Q 2024). Net income: CN¥19.3m (up 46% from 3Q 2024). Profit margin: 2.9% (up from 2.2% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Sep 30
Tianjin Pengling Group Co.,Ltd to Report Q3, 2025 Results on Oct 28, 2025 Tianjin Pengling Group Co.,Ltd announced that they will report Q3, 2025 results on Oct 28, 2025 New Risk • Sep 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% 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 (1.5% net profit margin). Reported Earnings • Sep 02
Second quarter 2025 earnings released: EPS: CN¥0.006 (vs CN¥0.043 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.006 (down from CN¥0.043 in 2Q 2024). Revenue: CN¥655.9m (up 15% from 2Q 2024). Net income: CN¥4.27m (down 87% from 2Q 2024). Profit margin: 0.7% (down from 5.7% in 2Q 2024). 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 8% per year, which means it is well ahead of earnings. Declared Dividend • Jul 06
Dividend of CN¥0.036 announced Shareholders will receive a dividend of CN¥0.036. Ex-date: 14th July 2025 Payment date: 14th July 2025 Dividend yield will be 0.7%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (40% 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. The company's earnings per share (EPS) would need to decline by 55% to shift the payout ratio to a potentially unsustainable range, which is more than the 15% EPS decline seen over the last 5 years. Announcement • Jul 02
Tianjin Pengling Group Co.,Ltd to Report First Half, 2025 Results on Aug 28, 2025 Tianjin Pengling Group Co.,Ltd announced that they will report first half, 2025 results on Aug 28, 2025 New Risk • Apr 28
New major risk - Revenue and earnings growth Earnings have declined by 2.6% 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 2.6% 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. Reported Earnings • Apr 25
First quarter 2025 earnings released: EPS: CN¥0.031 (vs CN¥0.042 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.031 (down from CN¥0.042 in 1Q 2024). Revenue: CN¥634.2m (up 22% from 1Q 2024). Net income: CN¥23.2m (down 26% from 1Q 2024). Profit margin: 3.7% (down from 6.0% in 1Q 2024). 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 8% per year, which means it is well ahead of earnings. Announcement • Apr 25
Tianjin Pengling Group Co.,Ltd, Annual General Meeting, May 20, 2025 Tianjin Pengling Group Co.,Ltd, Annual General Meeting, May 20, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Tianjin China Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to CN¥3.88, the stock trades at a trailing P/E ratio of 48.8x. Average trailing P/E is 34x in the Auto Components industry in China. Total returns to shareholders of 7.6% over the past three years. Announcement • Mar 31
Tianjin Pengling Group Co.,Ltd to Report Q1, 2025 Results on Apr 25, 2025 Tianjin Pengling Group Co.,Ltd announced that they will report Q1, 2025 results on Apr 25, 2025 Announcement • Dec 31
Tianjin Pengling Group Co.,Ltd to Report Fiscal Year 2024 Results on Apr 23, 2025 Tianjin Pengling Group Co.,Ltd announced that they will report fiscal year 2024 results on Apr 23, 2025 New Risk • Oct 30
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 44% 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: Major Risk Earnings have declined by 8.2% 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. Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.018 (vs CN¥0.04 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.018 (down from CN¥0.04 in 3Q 2023). Revenue: CN¥592.8m (up 13% from 3Q 2023). Net income: CN¥13.3m (down 60% from 3Q 2023). Profit margin: 2.2% (down from 6.3% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Tianjin Pengling Group Co.,Ltd to Report Q3, 2024 Results on Oct 30, 2024 Tianjin Pengling Group Co.,Ltd announced that they will report Q3, 2024 results on Oct 30, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥4.95, the stock trades at a trailing P/E ratio of 46.9x. Average trailing P/E is 26x in the Auto Components industry in China. Total returns to shareholders of 22% over the past three years. Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: CN¥0.043 (vs CN¥0.009 loss in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.043 (up from CN¥0.009 loss in 2Q 2023). Revenue: CN¥570.0m (up 33% from 2Q 2023). Net income: CN¥32.7m (up CN¥39.1m from 2Q 2023). Profit margin: 5.7% (up from net loss in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Board Change • Jul 26
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. 4 non-independent directors. Independent Director Qing Gao was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Declared Dividend • Jul 06
Dividend reduced to CN¥0.035 Dividend of CN¥0.035 is 30% lower than last year. Ex-date: 12th July 2024 Payment date: 12th July 2024 Dividend yield will be 0.9%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (62% 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. The company's earnings per share (EPS) would need to decline by 31% to shift the payout ratio to a potentially unsustainable range, which is more than the 21% EPS decline seen over the last 5 years. Announcement • Jun 29
Tianjin Pengling Group Co.,Ltd to Report First Half, 2024 Results on Aug 28, 2024 Tianjin Pengling Group Co.,Ltd announced that they will report first half, 2024 results on Aug 28, 2024 Announcement • Apr 27
Tianjin Pengling Group Co.,Ltd Proposes Final Cash Dividend for the Year 2023 On April 25, 2024, Tianjin Pengling Group Co.,Ltd proposed final Cash dividend/10 shares (tax included) of CNY 0.35000000 for the year 2023. Announcement • Apr 26
Tianjin Pengling Group Co.,Ltd, Annual General Meeting, May 16, 2024 Tianjin Pengling Group Co.,Ltd, Annual General Meeting, May 16, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Tianjin China Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: CN¥0.042 (vs CN¥0.028 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.042 (up from CN¥0.028 in 1Q 2023). Revenue: CN¥521.1m (up 41% from 1Q 2023). Net income: CN¥31.4m (up 64% from 1Q 2023). Profit margin: 6.0% (up from 5.2% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥4.69, the stock trades at a trailing P/E ratio of 56.1x. Average trailing P/E is 32x in the Auto Components industry in China. Total returns to shareholders of 23% over the past three years. Announcement • Mar 30
Tianjin Pengling Group Co.,Ltd to Report Q1, 2024 Results on Apr 25, 2024 Tianjin Pengling Group Co.,Ltd announced that they will report Q1, 2024 results on Apr 25, 2024 New Risk • Mar 14
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 9.6% 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: Major Risk Earnings have declined by 21% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.6% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (14% increase in shares outstanding). Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥5.35, the stock trades at a trailing P/E ratio of 64x. Average trailing P/E is 32x in the Auto Components industry in China. Total returns to shareholders of 43% over the past three years. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥3.95, the stock trades at a trailing P/E ratio of 47.3x. Average trailing P/E is 27x in the Auto Components industry in China. Total returns to shareholders of 3.6% over the past three years. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥3.66, the stock trades at a trailing P/E ratio of 43.8x. Average trailing P/E is 28x in the Auto Components industry in China. Total returns to shareholders of 8.8% over the past three years. Announcement • Dec 30
Tianjin Pengling Group Co.,Ltd to Report Fiscal Year 2023 Results on Mar 29, 2024 Tianjin Pengling Group Co.,Ltd announced that they will report fiscal year 2023 results on Mar 29, 2024 Announcement • Dec 17
Tianjin Pengling Group Co.,Ltd Announces Executive Appointments Tianjin Pengling Group Co.,Ltd at its Extraordinary General Meeting held on 14 December 2023, approved the appointment of Wang Zhifang, Wang Huajie and Wang Dong as non-independent directors, Gao Qing as independent director and Jiang Chunjuan as non-employee supervisor. Valuation Update With 7 Day Price Move • Nov 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥6.53, the stock trades at a trailing P/E ratio of 78.2x. Average trailing P/E is 38x in the Auto Components industry in China. Total returns to shareholders of 23% over the past three years. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥5.60, the stock trades at a trailing P/E ratio of 67x. Average trailing P/E is 35x in the Auto Components industry in China. Total loss to shareholders of 13% over the past three years. Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: CN¥0.04 (vs CN¥0.018 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.04 (up from CN¥0.018 in 3Q 2022). Revenue: CN¥523.8m (up 27% from 3Q 2022). Net income: CN¥33.0m (up 181% from 3Q 2022). Profit margin: 6.3% (up from 2.8% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Tianjin Pengling Group Co.,Ltd to Report Q3, 2023 Results on Oct 26, 2023 Tianjin Pengling Group Co.,Ltd announced that they will report Q3, 2023 results on Oct 26, 2023 Reported Earnings • Aug 30
Second quarter 2023 earnings released: CN¥0.009 loss per share (vs CN¥0.018 profit in 2Q 2022) Second quarter 2023 results: CN¥0.009 loss per share (down from CN¥0.018 profit in 2Q 2022). Revenue: CN¥428.7m (up 25% from 2Q 2022). Net loss: CN¥6.43m (down 153% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. New Risk • Jul 28
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 6.7% 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: Major Risk Earnings have declined by 23% 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 (6.7% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (14% increase in shares outstanding). Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥4.66, the stock trades at a trailing P/E ratio of 58.3x. Average trailing P/E is 41x in the Auto Components industry in China. Total returns to shareholders of 20% over the past three years. Announcement • Jun 30
Tianjin Pengling Group Co.,Ltd Announces Final Profit Distribution (A Shares) for 2022, Payable on 05 July 2023 Tianjin Pengling Group Co.,Ltd announced 2022 final profit distribution plan to be implemented (A shares) Cash dividend/10 shares (tax included): CNY 0.50000000. Record date: 04 July 2023, Ex-date: 05 July 2023, Payment date: 05 July 2023. Announcement • May 19
Tianjin Pengling Group Co.,Ltd Approves Final Dividend for 2022 Tianjin Pengling Group Co.,Ltd at its AGM held on May 16, 2023, approved final cash dividend of CNY 0.50000000 per 10 shares (tax included) for 2022. Reported Earnings • Apr 26
First quarter 2023 earnings released: EPS: CN¥0.028 (vs CN¥0.05 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.028 (down from CN¥0.05 in 1Q 2022). Revenue: CN¥370.4m (down 16% from 1Q 2022). Net income: CN¥19.2m (down 45% from 1Q 2022). Profit margin: 5.2% (down from 7.8% in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 12% 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. Board Change • Nov 16
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 8 new directors. 2 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). VP & Director Quansheng Wei is the most experienced director on the board, commencing their role in 2019. Independent Director Weiping Yu was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: CN¥0.018 (vs CN¥0.011 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.018 (up from CN¥0.011 in 3Q 2021). Revenue: CN¥413.1m (up 16% from 3Q 2021). Net income: CN¥11.7m (up 53% from 3Q 2021). Profit margin: 2.8% (up from 2.2% in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Aug 31
Second quarter 2022 earnings released: EPS: CN¥0.018 (vs CN¥0.04 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.018 (down from CN¥0.04 in 2Q 2021). Revenue: CN¥342.6m (down 20% from 2Q 2021). Net income: CN¥12.1m (down 53% from 2Q 2021). Profit margin: 3.5% (down from 6.0% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • May 21
Tianjin Pengling Group Co. Ltd. Announces 2021 Final Profit Distribution Plan to Be Implemented (A Shares), Payable on May 27, 2022 Tianjin Pengling Group Co. Ltd. announced 2021 final profit distribution plan to be implemented (A shares), payable on May 27, 2022. The company announced Cash dividend/10 shares (tax included) of CNY 0.50000000 with record date May 26, 2022 and ex-dividend date May 27, 2022. Announcement • Apr 27
Tianjin Pengling Group Co., Ltd Approves Cash Dividend for the Year 2021 Tianjin Pengling Group Co. Ltd. approved at its AGM held on 22 April 2022 the final cash dividend of CNY 0.50000000 per 10 shares (tax included) for the year 2021. Reported Earnings • Apr 27
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: CN¥0.05 (up from CN¥0.04 in 1Q 2021). Revenue: CN¥442.9m (up 18% from 1Q 2021). Net income: CN¥34.5m (up 11% from 1Q 2021). Profit margin: 7.8% (down from 8.3% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) exceeded analyst estimates by 16%. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. Shareholder Supervisor Chenchen Li is the most experienced director on the board, commencing their role in 2020. 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 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be CN¥4.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.5% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Apr 03
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: CN¥0.09 (up from CN¥0.09 loss in FY 2020). Revenue: CN¥1.66b (down 1.1% from FY 2020). Net income: CN¥62.4m (up CN¥131.1m from FY 2020). Profit margin: 3.8% (up from net loss in FY 2020). Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) exceeded analyst estimates by 16%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. Announcement • Apr 02
Tianjin Pengling Group Co., Ltd, Annual General Meeting, Apr 22, 2022 Tianjin Pengling Group Co., Ltd, Annual General Meeting, Apr 22, 2022, at 14:00 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 report and its summary ; to consider 2021 annual accounts ; to consider 2021 profit distribution plan ; to consider 2021 provision for assets impairment; to consider amendments to the articles of associations of the Company; to consider; and to consider amendments to the Company's relevant systems. Announcement • Apr 01
Tianjin Pengling Group Co., Ltd Proposes Final Cash Dividend for the Year 2021 Tianjin Pengling Group Co. Ltd. proposed final cash dividend of CNY 0.50000000 per 10 shares (tax included) for the year 2021. Reported Earnings • Oct 26
Third quarter 2021 earnings released: EPS CN¥0.011 (vs CN¥0.052 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥355.5m (down 15% from 3Q 2020). Net income: CN¥7.66m (down 80% from 3Q 2020). Profit margin: 2.2% (down from 9.3% in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 24
Second quarter 2021 earnings released: EPS CN¥0.04 (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¥430.6m (up 9.3% from 2Q 2020). Net income: CN¥25.9m (up 21% from 2Q 2020). Profit margin: 6.0% (up from 5.4% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Reported Earnings • Apr 28
First quarter 2021 earnings released: EPS CN¥0.04 (vs CN¥0.03 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥375.9m (up 19% from 1Q 2020). Net income: CN¥31.2m (up 38% from 1Q 2020). Profit margin: 8.3% (up from 7.2% in 1Q 2020). 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 8% per year, which means it has not declined as severely as earnings. Announcement • Mar 09
Tianjin Pengling Group Co., Ltd to Report Fiscal Year 2020 Results on Apr 21, 2021 Tianjin Pengling Group Co., Ltd announced that they will report fiscal year 2020 results on Apr 21, 2021 Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CN¥3.73, the stock is trading at a trailing P/E ratio of 17.2x, down from the previous P/E ratio of 21.7x. This compares to an average P/E of 33x in the Auto Components industry in China. Total return to shareholders over the past three years is a loss of 16%. Is New 90 Day High Low • Feb 01
New 90-day low: CN¥3.73 The company is down 45% from its price of CN¥6.78 on 03 November 2020. The Chinese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 1.0% over the same period. Is New 90 Day High Low • Jan 13
New 90-day low: CN¥4.28 The company is down 29% from its price of CN¥6.05 on 15 October 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 4.0% over the same period. Is New 90 Day High Low • Dec 28
New 90-day low: CN¥4.73 The company is down 3.0% from its price of CN¥4.88 on 29 September 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 7.0% over the same period. Announcement • Dec 13
Tianjin Pengling Group Co., Ltd Announces Executive Changes Tianjin Pengling Group Co. Ltd. approved the election and nomination of Wang Zhifang, Wang Huajie and Tian Jinping as non-independent directors, Yu Weiping, Sheng Yuangui and Zhu Hong as independent directors and Liang Chen and Xia Yuanyu as non-employee supervisors at the Extraordinary General Meeting of 2020 held on 10 December 2020. Valuation Update With 7 Day Price Move • Nov 11
Market pulls back on stock over the past week After last week's 16% share price decline to CN¥5.55, the stock is trading at a trailing P/E ratio of 25.6x, down from the previous P/E ratio of 30.5x. This compares to an average P/E of 40x in the Auto Components industry in China. Total returns to shareholders over the past three years are 1.2%. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥152.0m, up 48% from the prior year. Total revenue was CN¥1.61b over the last 12 months, down 2.2% from the prior year. Is New 90 Day High Low • Oct 26
New 90-day high: CN¥6.44 The company is up 63% from its price of CN¥3.95 on 28 July 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 13% over the same period. Valuation Update With 7 Day Price Move • Oct 15
Market bids up stock over the past week After last week's 21% share price gain to CN¥6.05, the stock is trading at a trailing P/E ratio of 30.6x, up from the previous P/E ratio of 25.2x. This compares to an average P/E of 44x in the Auto Components industry in China. Total returns to shareholders over the past three years are 12%. Announcement • Oct 14
Tianjin Pengling Group Co., Ltd Announces Management Appointment Tianjin Pengling Group Co. Ltd. announced the appointment of Tian Jinping, Wei Quansheng and Jiang Mingjun as non-independent directors and appointment of Yu Zhongming, Li Lanying and Liu Tianzeng as independent directors. Announcement • Aug 13
Tianjin Pengling Group Co., Ltd to Report First Half, 2020 Results on Aug 28, 2020 Tianjin Pengling Group Co., Ltd announced that they will report first half, 2020 results on Aug 28, 2020