Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥38.60, the stock trades at a trailing P/E ratio of 58.8x. Average forward P/E is 18x in the Auto Components industry in China. Total returns to shareholders of 102% over the past three years. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥45.38, the stock trades at a trailing P/E ratio of 69.1x. Average forward P/E is 17x in the Auto Components industry in China. Total returns to shareholders of 128% over the past three years. Announcement • Jun 30
Ningbo KBE Electrical Technology Co.,Ltd. to Report First Half, 2026 Results on Aug 29, 2026 Ningbo KBE Electrical Technology Co.,Ltd. announced that they will report first half, 2026 results on Aug 29, 2026 New Risk • Jun 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 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (35% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (8.4% average weekly change). Declared Dividend • May 23
Dividend of CN¥0.20 announced Shareholders will receive a dividend of CN¥0.20. Ex-date: 29th May 2026 Payment date: 29th May 2026 Dividend yield will be 0.2%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (22% 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 11% per year over the past 5 years and payments have been stable during that time. Earnings per share has grown by 19% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥67.82, the stock trades at a trailing P/E ratio of 74.4x. Average forward P/E is 22x in the Auto Components industry in China. Total returns to shareholders of 132% over the past three years. Reported Earnings • Apr 25
First quarter 2026 earnings released: EPS: CN¥0.55 (vs CN¥0.29 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.55 (up from CN¥0.29 in 1Q 2025). Revenue: CN¥1.01b (up 14% from 1Q 2025). Net income: CN¥100.6m (up 89% from 1Q 2025). Profit margin: 10.0% (up from 6.0% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Announcement • Apr 25
Ningbo KBE Electrical Technology Co.,Ltd., Annual General Meeting, May 18, 2026 Ningbo KBE Electrical Technology Co.,Ltd., Annual General Meeting, May 18, 2026, at 15:00 China Standard Time. Location: The Company's Meeting Room, Ninghai County, Zhejiang China Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥60.11, the stock trades at a trailing P/E ratio of 65.4x. Average forward P/E is 21x in the Auto Components industry in China. Total returns to shareholders of 115% over the past three years. Announcement • Mar 31
Ningbo KBE Electrical Technology Co.,Ltd. to Report Q1, 2026 Results on Apr 25, 2026 Ningbo KBE Electrical Technology Co.,Ltd. announced that they will report Q1, 2026 results on Apr 25, 2026 New Risk • Jan 30
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 7.5% 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: Major Risks Debt is not well covered by operating cash flow (4.6% operating cash flow to total debt). High level of non-cash earnings (22% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.5% average weekly change). Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥58.00, the stock trades at a trailing P/E ratio of 63.1x. Average forward P/E is 24x in the Auto Components industry in China. Total returns to shareholders of 76% over the past three years. Announcement • Dec 31
Ningbo KBE Electrical Technology Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 25, 2026 Ningbo KBE Electrical Technology Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 25, 2026 Reported Earnings • Oct 27
Third quarter 2025 earnings released: EPS: CN¥0.24 (vs CN¥0.23 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.24 (up from CN¥0.23 in 3Q 2024). Revenue: CN¥1.02b (up 11% from 3Q 2024). Net income: CN¥45.3m (up 12% from 3Q 2024). Profit margin: 4.4% (in line with 3Q 2024). Revenue is forecast to grow 20% 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 6% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥48.18, the stock trades at a trailing P/E ratio of 52.3x. Average forward P/E is 26x in the Auto Components industry in China. Total returns to shareholders of 61% over the past three years. Announcement • Sep 30
Ningbo KBE Electrical Technology Co.,Ltd. to Report Q3, 2025 Results on Oct 27, 2025 Ningbo KBE Electrical Technology Co.,Ltd. announced that they will report Q3, 2025 results on Oct 27, 2025 Reported Earnings • Aug 31
Second quarter 2025 earnings released: EPS: CN¥0.40 (vs CN¥0.27 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.40. Revenue: CN¥945.9m (up 8.5% from 2Q 2024). Net income: CN¥39.1m (down 16% from 2Q 2024). Profit margin: 4.1% (down from 5.3% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Auto Components industry in China. Announcement • Jul 02
Ningbo KBE Electrical Technology Co.,Ltd. to Report First Half, 2025 Results on Aug 26, 2025 Ningbo KBE Electrical Technology Co.,Ltd. announced that they will report first half, 2025 results on Aug 26, 2025 Board Change • Jun 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. 5 experienced directors. 3 highly experienced directors. Non-Independent Director & CFO Feng Wang was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • Apr 24
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 26% 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (26% accrual ratio). 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). Reported Earnings • Apr 22
First quarter 2025 earnings released: EPS: CN¥0.40 (vs CN¥0.36 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.40 (up from CN¥0.36 in 1Q 2024). Revenue: CN¥884.5m (up 14% from 1Q 2024). Net income: CN¥53.1m (up 20% from 1Q 2024). Profit margin: 6.0% (up from 5.7% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 16% per year. Announcement • Apr 22
Ningbo KBE Electrical Technology Co.,Ltd. Proposes Final Cash Dividend for 2024 Ningbo KBE Electrical Technology Co.,Ltd. announced on 21 April 2025 the final profit distribution proposal for 2024 as follows:
Cash dividend/10 shares (tax included): CNY 3.00000000. Announcement • Apr 21
Ningbo KBE Electrical Technology Co.,Ltd., Annual General Meeting, May 12, 2025 Ningbo KBE Electrical Technology Co.,Ltd., Annual General Meeting, May 12, 2025, at 10:00 China Standard Time. Location: The Company's Meeting Room, Ninghai County, Zhejiang China Announcement • Apr 10
Ningbo KBE Electrical Technology Co.,Ltd. (SZSE:300863) announces an Equity Buyback for CNY 300 million worth of its shares. Ningbo KBE Electrical Technology Co.,Ltd. (SZSE:300863) announces a share repurchase program. Under the program, the company will repurchase up to CNY 300 million worth of its shares. The repurchase price will not more than CNY 71 per Share. The repurchased shares will be used to convert convertible bonds issued by the company for employee equity incentives or conversion. The repurchases will be funded using company's own funds. The repurchase period will be not more than 3 months. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to CN¥37.35, 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 29% over the past three years. Announcement • Mar 31
Ningbo KBE Electrical Technology Co.,Ltd. to Report Q1, 2025 Results on Apr 21, 2025 Ningbo KBE Electrical Technology Co.,Ltd. announced that they will report Q1, 2025 results on Apr 21, 2025 New Risk • Mar 11
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 8.3% 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 Debt is not well covered by operating cash flow (7.5% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.3% average weekly change). Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥49.48, 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 50% over the past three years. New Risk • Jan 10
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 9.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (7.5% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.4% average weekly change). Announcement • Dec 31
Ningbo KBE Electrical Technology Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 21, 2025 Ningbo KBE Electrical Technology Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 21, 2025 Valuation Update With 7 Day Price Move • Dec 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥50.91, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 18x in the Auto Components industry in China. Total returns to shareholders of 21% over the past three years. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥45.41, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 17x in the Auto Components industry in China. Total loss to shareholders of 6.5% over the past three years. Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: CN¥0.32 (vs CN¥0.36 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.32 (down from CN¥0.36 in 3Q 2023). Revenue: CN¥918.8m (flat on 3Q 2023). Net income: CN¥40.4m (down 10% from 3Q 2023). Profit margin: 4.4% (down from 4.9% in 3Q 2023). Revenue is forecast to grow 27% 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 21% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 16
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥44.46, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 16x in the Auto Components industry in China. Total returns to shareholders of 43% over the past three years. Announcement • Sep 30
Ningbo KBE Electrical Technology Co.,Ltd. to Report Q3, 2024 Results on Oct 25, 2024 Ningbo KBE Electrical Technology Co.,Ltd. announced that they will report Q3, 2024 results on Oct 25, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥52.20, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 15x in the Auto Components industry in China. Total returns to shareholders of 80% over the past three years. Price Target Changed • Aug 29
Price target increased by 14% to CN¥42.00 Up from CN¥36.79, the current price target is provided by 1 analyst. New target price is 7.7% above last closing price of CN¥38.99. Stock is up 6.0% over the past year. The company is forecast to post earnings per share of CN¥1.75 for next year compared to CN¥1.36 last year. Reported Earnings • Aug 27
Second quarter 2024 earnings released: EPS: CN¥0.37 (vs CN¥0.37 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.37 (up from CN¥0.37 in 2Q 2023). Revenue: CN¥872.0m (up 5.3% from 2Q 2023). Net income: CN¥46.4m (up 3.3% from 2Q 2023). Profit margin: 5.3% (down from 5.4% in 2Q 2023). The decrease in margin was driven by higher expenses. 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 27% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Aug 21
Ningbo KBE Electrical Technology Co.,Ltd. (SZSE:300863) announces an Equity Buyback for CNY 280 million worth of its shares. Ningbo KBE Electrical Technology Co.,Ltd. (SZSE:300863) announces a share repurchase program. Under the program, the company will repurchase up to CNY 280 million worth of its shares. The repurchase price will not more than CNY 55 per Share. The repurchased shares will be used to convert convertible bonds issued by the company. If the company fails to transfer the shares repurchased this time within three years after the announcement of the results of the share repurchase and the share change, it will perform the procedures for reducing the registered capital in accordance with the law, and the untransferred shares will be cancelled. The repurchases will be funded using company's own funds or self-raised funds. The repurchase period will be not more than 3 months. New Risk • Jun 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 8.3% 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 Risks Debt is not well covered by operating cash flow (6.0% operating cash flow to total debt). High level of non-cash earnings (21% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.3% average weekly change). Announcement • Jun 29
Ningbo KBE Electrical Technology Co.,Ltd. to Report First Half, 2024 Results on Aug 27, 2024 Ningbo KBE Electrical Technology Co.,Ltd. announced that they will report first half, 2024 results on Aug 27, 2024 Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment deteriorates as stock falls 31% After last week's 31% share price decline to CN¥35.23, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 16x in the Auto Components industry in China. Total loss to shareholders of 35% over the past three years. Declared Dividend • Jun 01
Dividend of CN¥0.50 announced Shareholders will receive a dividend of CN¥0.50. Ex-date: 6th June 2024 Payment date: 6th June 2024 Dividend yield will be 1.0%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (25% 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 29% per year over the past 3 years and payments have been stable during that time. EPS is expected to grow by 23% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • May 31
Ningbo KBE Electrical Technology Co.,Ltd. Announces 2023 Final Profit Distribution on A Shares, Payable on 06 June 2024 Ningbo KBE Electrical Technology Co.,Ltd. announced 2023 final profit distribution plan to be implemented (A shares), Cash dividend/10 shares (tax included) of CNY 5.00000000. Record date is 05 June 2024. Ex-date is 06 June 2024. Payment date is 06 June 2024. New Risk • May 17
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% 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 Risks Debt is not well covered by operating cash flow (6.0% operating cash flow to total debt). High level of non-cash earnings (21% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Major Estimate Revision • Apr 25
Consensus revenue estimates fall by 10% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥4.92b to CN¥4.41b. EPS estimate fell from CN¥2.93 to CN¥2.45 per share. Net income forecast to grow 31% next year vs 37% growth forecast for Auto Components industry in China. Consensus price target down from CN¥61.00 to CN¥51.50. Share price rose 2.9% to CN¥42.51 over the past week. Reported Earnings • Apr 20
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥1.90 (up from CN¥1.69 in FY 2022). Revenue: CN¥3.45b (up 17% from FY 2022). Net income: CN¥165.9m (up 19% from FY 2022). Profit margin: 4.8% (in line with FY 2022). Revenue missed analyst estimates by 8.1%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 20% 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 34% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Apr 20
Ningbo KBE Electrical Technology Co.,Ltd., Annual General Meeting, May 10, 2024 Ningbo KBE Electrical Technology Co.,Ltd., Annual General Meeting, May 10, 2024, at 10:00 China Standard Time. Location: The Company's Meeting Room, Ninghai County, Zhejiang China Announcement • Mar 30
Ningbo KBE Electrical Technology Co.,Ltd. to Report Q1, 2024 Results on Apr 26, 2024 Ningbo KBE Electrical Technology Co.,Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥32.70, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Auto Components industry in China. Total loss to shareholders of 45% over the past three years. Announcement • Dec 30
Ningbo KBE Electrical Technology Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 19, 2024 Ningbo KBE Electrical Technology Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 19, 2024 Price Target Changed • Oct 30
Price target decreased by 12% to CN¥61.00 Down from CN¥69.33, the current price target is provided by 1 analyst. New target price is 26% above last closing price of CN¥48.54. Stock is down 5.8% over the past year. The company is forecast to post earnings per share of CN¥2.31 for next year compared to CN¥1.69 last year. Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: CN¥0.51 (vs CN¥0.61 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.51 (down from CN¥0.61 in 3Q 2022). Revenue: CN¥926.8m (up 8.7% from 3Q 2022). Net income: CN¥45.1m (down 11% from 3Q 2022). Profit margin: 4.9% (down from 6.0% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 33% 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 35% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 18
Second quarter 2023 earnings released: EPS: CN¥0.52 (vs CN¥0.27 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.52 (up from CN¥0.27 in 2Q 2022). Revenue: CN¥828.3m (up 40% from 2Q 2022). Net income: CN¥44.9m (up 101% from 2Q 2022). Profit margin: 5.4% (up from 3.8% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Auto Components industry in China. Announcement • May 20
Ningbo KBE Electrical Technology Co.,Ltd. Approves Cash Dividend for 2022 Ningbo KBE Electrical Technology Co.,Ltd. approved cash dividend of CNY 5.00000000 per 10 shares (tax included) for 2022 at the AGM held on May 18, 2023. Price Target Changed • Apr 30
Price target decreased by 16% to CN¥104 Down from CN¥124, the current price target is provided by 1 analyst. New target price is 26% above last closing price of CN¥82.80. Stock is up 31% over the past year. The company is forecast to post earnings per share of CN¥4.19 for next year compared to CN¥2.54 last year. Reported Earnings • Apr 26
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥2.54 (up from CN¥1.56 in FY 2021). Revenue: CN¥2.95b (up 30% from FY 2021). Net income: CN¥140.1m (up 62% from FY 2021). Profit margin: 4.8% (up from 3.8% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates by 8.3%. Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 21% growth forecast for the Auto Components industry in China. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥97.68, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 22x in the Auto Components industry in China. Total returns to shareholders of 8.9% over the past year. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥91.73, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 25x in the Auto Components industry in China. Total returns to shareholders of 23% over the past year. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: CN¥0.92 (vs CN¥0.73 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.92 (up from CN¥0.73 in 3Q 2021). Revenue: CN¥852.7m (up 29% from 3Q 2021). Net income: CN¥50.9m (up 25% from 3Q 2021). Profit margin: 6.0% (down from 6.1% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 34% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Auto Components industry in China. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥89.51, the stock trades at a trailing P/E ratio of 47.1x. Average trailing P/E is 48x in the Auto Components industry in China. Total returns to shareholders of 29% over the past year. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: CN¥0.40 (vs CN¥0.35 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.40 (up from CN¥0.35 in 2Q 2021). Revenue: CN¥593.4m (up 24% from 2Q 2021). Net income: CN¥22.3m (up 15% from 2Q 2021). Profit margin: 3.8% (down from 4.1% in 2Q 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥89.81, the stock trades at a trailing P/E ratio of 48.5x. Average trailing P/E is 54x in the Auto Components industry in China. Total returns to shareholders of 24% over the past year. Announcement • Jun 01
Ningbo KBE Electrical Technology Co.,Ltd. Announces Final Profit Distribution Plan to Be Implemented on A Shares for the Year 2021, Payable on 09 June 2022 Ningbo KBE Electrical Technology Co.,Ltd. announced final profit distribution plan to be implemented on A shares as cash dividend per ten shares (tax included) of CNY 3.00000000 for the year 2021, payable on 09 June 2022. Record date: 08 June 2022. Ex-date: 09 June 2022. Net cash dividend per ten shares after tax: CNY 2.70000000 (CNY 3.00000000 – CNY 0.30000000). Announcement • Apr 28
Ningbo KBE Electrical Technology Co.,Ltd. Proposes Profit Distribution for 2021 Ningbo KBE Electrical Technology Co.,Ltd. announced profit distribution proposal for 2021 as Cash dividend/10 shares (tax included): CNY 3.00000000. Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: CN¥0.51 (vs CN¥0.22 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.51 (up from CN¥0.22 in 1Q 2021). Revenue: CN¥614.4m (up 40% from 1Q 2021). Net income: CN¥27.9m (up 132% from 1Q 2021). Profit margin: 4.5% (up from 2.7% in 1Q 2021). The increase in margin was driven by higher revenue. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Ping Zhao was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment improved over the past week After last week's 24% share price gain to CN¥76.90, the stock trades at a trailing P/E ratio of 45.5x. Average trailing P/E is 34x in the Auto Components industry in China. Total loss to shareholders of 17% over the past year. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥105, the stock trades at a trailing P/E ratio of 62.1x. Average trailing P/E is 44x in the Auto Components industry in China. Total loss to shareholders of 5.3% over the past year. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.73 (vs CN¥0.21 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥661.9m (up 85% from 3Q 2020). Net income: CN¥40.6m (up 320% from 3Q 2020). Profit margin: 6.1% (up from 2.7% in 3Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS CN¥0.35 (vs CN¥0.29 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: CN¥477.7m (up 82% from 2Q 2020). Net income: CN¥19.4m (up 61% from 2Q 2020). Profit margin: 4.1% (down from 4.6% in 2Q 2020). Announcement • May 25
Ningbo Kbe Electrical Technology Co.,Ltd. Announces 2020 Final Profit Distribution Plan to Be Implemented (A Shares), Payable on May 28, 2021 Ningbo Kbe Electrical Technology Co.,Ltd. announced 2020 final profit distribution plan to be implemented (A shares) of Cash dividend/10 shares (tax included) of CNY 3.50000000. Payable on May 28, 2021. Record date is May 27, 2021. Ex- date is May 28, 2021. Announcement • May 21
Ningbo KBE Electrical Technology Co.,Ltd. Approves Cash Dividend for the Year 2020 Ningbo KBE Electrical Technology Co.,Ltd. at its annual general meeting held on May 18, 2021, approved cash dividend per ten shares (tax included) of CNY 3.50000000 for the year 2020. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS CN¥0.22 (vs CN¥0.24 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: CN¥438.2m (up 198% from 1Q 2020). Net income: CN¥12.0m (up 23% from 1Q 2020). Profit margin: 2.7% (down from 6.7% in 1Q 2020). Announcement • Apr 28
Ningbo KBE Electrical Technology Co.,Ltd. Proposes Final Cash Dividend for the Year 2020 Ningbo KBE Electrical Technology Co.,Ltd. proposed final cash dividend/10 shares (tax included): CNY 3.50000000 for the year 2020. Is New 90 Day High Low • Mar 09
New 90-day low: CN¥82.61 The company is down 37% from its price of CN¥131 on 09 December 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is down 6.0% over the same period. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment deteriorated over the past week After last week's 19% share price decline to CN¥87.03, the stock is trading at a trailing P/E ratio of 65.2x, down from the previous P/E ratio of 80.8x. This compares to an average P/E of 31x in the Auto Components industry in China. Is New 90 Day High Low • Jan 29
New 90-day low: CN¥105 The company is down 28% from its price of CN¥146 on 30 October 2020. The Chinese market is up 9.0% 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. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥56.7m, down 6.8% from the prior year. Total revenue was CN¥1.05b over the last 12 months, up 11% from the prior year. 
