Price Target Changed • May 07
Price target increased by 8.8% to CN¥32.94 Up from CN¥30.29, the current price target is an average from 3 analysts. New target price is 19% above last closing price of CN¥27.80. Stock is up 137% over the past year. The company is forecast to post earnings per share of CN¥1.39 for next year compared to CN¥1.16 last year. Major Estimate Revision • Apr 22
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CN¥111.7b to CN¥106.2b. EPS estimate also fell from CN¥1.54 per share to CN¥1.37 per share. Net income forecast to grow 19% next year vs 47% growth forecast for Electrical industry in China. Consensus price target up from CN¥28.40 to CN¥30.29. Share price fell 2.6% to CN¥27.49 over the past week. Reported Earnings • Apr 17
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥1.16 (up from CN¥0.80 in FY 2024). Revenue: CN¥97.2b (flat on FY 2024). Net income: CN¥5.83b (up 45% from FY 2024). Profit margin: 6.0% (up from 4.1% in FY 2024). Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) also missed analyst estimates by 9.8%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Announcement • Apr 16
TBEA Co., Ltd., Annual General Meeting, May 07, 2026 TBEA Co., Ltd., Annual General Meeting, May 07, 2026, at 13:00 China Standard Time. Location: The Company's International Conference Center, Changji, Xinjiang China Announcement • Mar 30
TBEA Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 TBEA Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Buy Or Sell Opportunity • Jan 30
Now 20% undervalued Over the last 90 days, the stock has risen 39% to CN¥27.20. The fair value is estimated to be CN¥34.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 50%. Revenue is forecast to grow by 21% in 2 years. Earnings are forecast to grow by 69% in the next 2 years. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥27.37, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 26x in the Electrical industry in China. Total returns to shareholders of 90% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥33.88 per share. Announcement • Dec 26
TBEA Co., Ltd. to Report Fiscal Year 2025 Results on Apr 16, 2026 TBEA Co., Ltd. announced that they will report fiscal year 2025 results on Apr 16, 2026 Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥25.44, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 26x in the Electrical industry in China. Total returns to shareholders of 68% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥33.75 per share. New Risk • Nov 03
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: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.5% average weekly change). Reported Earnings • Nov 01
Third quarter 2025 earnings released: EPS: CN¥0.46 (vs CN¥0.25 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.46 (up from CN¥0.25 in 3Q 2024). Revenue: CN¥24.6b (flat on 3Q 2024). Net income: CN¥2.30b (up 82% from 3Q 2024). Profit margin: 9.4% (up from 5.2% in 3Q 2024). Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electrical industry in China. 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 5% per year, which means it is well ahead of earnings. Price Target Changed • Oct 11
Price target increased by 17% to CN¥18.47 Up from CN¥15.80, the current price target is an average from 3 analysts. New target price is 5.9% below last closing price of CN¥19.63. Stock is up 45% over the past year. The company is forecast to post earnings per share of CN¥1.28 for next year compared to CN¥0.80 last year. Announcement • Sep 30
TBEA Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 TBEA Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Reported Earnings • Aug 21
Second quarter 2025 earnings released: EPS: CN¥0.32 (vs CN¥0.21 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.32 (up from CN¥0.21 in 2Q 2024). Revenue: CN¥25.0b (up 3.1% from 2Q 2024). Net income: CN¥1.58b (up 52% from 2Q 2024). Profit margin: 6.3% (up from 4.3% in 2Q 2024). Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has fallen by 43% 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. Price Target Changed • Jul 29
Price target increased by 15% to CN¥15.47 Up from CN¥13.47, the current price target is an average from 3 analysts. New target price is 10% above last closing price of CN¥14.02. Stock is up 6.0% over the past year. The company is forecast to post earnings per share of CN¥1.24 for next year compared to CN¥0.80 last year. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥14.44, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 20x in the Electrical industry in China. Total loss to shareholders of 20% over the past three years. Declared Dividend • Jul 06
Dividend increased to CN¥0.25 Dividend of CN¥0.25 is 25% higher than last year. Ex-date: 10th July 2025 Payment date: 10th July 2025 Dividend yield will be 2.1%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by earnings (35% 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 7.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 110% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 30
TBEA Co., Ltd. to Report First Half, 2025 Results on Aug 30, 2025 TBEA Co., Ltd. announced that they will report first half, 2025 results on Aug 30, 2025 Announcement • Jun 24
TBEA Co., Ltd.(SHSE:600089) dropped from Shanghai Stock Exchange 180 Value Index TBEA Co., Ltd. removed form Shanghai Stock Exchange 180 Value Index Major Estimate Revision • Apr 29
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥107.5b to CN¥102.6b. EPS estimate also fell from CN¥1.32 per share to CN¥1.12 per share. Net income forecast to grow 90% next year vs 43% growth forecast for Electrical industry in China. Consensus price target reaffirmed at CN¥13.47. Share price was steady at CN¥11.51 over the past week. Reported Earnings • Apr 22
First quarter 2025 earnings released: EPS: CN¥0.32 (vs CN¥0.40 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.32 (down from CN¥0.40 in 1Q 2024). Revenue: CN¥23.4b (flat on 1Q 2024). Net income: CN¥1.60b (down 20% from 1Q 2024). Profit margin: 6.8% (down from 8.5% in 1Q 2024). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Apr 22
TBEA Co., Ltd., Annual General Meeting, May 12, 2025 TBEA Co., Ltd., Annual General Meeting, May 12, 2025, at 13:00 China Standard Time. Location: No. 189, Beijing South Road, Changji, Xinjiang China Announcement • Mar 28
TBEA Co., Ltd. to Report Q1, 2025 Results on Apr 22, 2025 TBEA Co., Ltd. announced that they will report Q1, 2025 results on Apr 22, 2025 Major Estimate Revision • Feb 06
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥98.1b to CN¥96.5b. EPS estimate also fell from CN¥1.19 per share to CN¥1.02 per share. Net income forecast to grow 23% next year vs 40% growth forecast for Electrical industry in China. Consensus price target broadly unchanged at CN¥13.47. Share price was steady at CN¥12.05 over the past week. Announcement • Dec 27
TBEA Co., Ltd. to Report Fiscal Year 2024 Results on Apr 22, 2025 TBEA Co., Ltd. announced that they will report fiscal year 2024 results on Apr 22, 2025 Reported Earnings • Oct 31
Third quarter 2024 earnings released Third quarter 2024 results: EPS: CN¥0.25. Revenue: CN¥24.5b (up 4.1% from 3Q 2023). Net income: CN¥1.26b (down 33% from 3Q 2023). Profit margin: 5.2% (down from 8.0% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electrical industry in China. Price Target Changed • Oct 24
Price target decreased by 11% to CN¥13.63 Down from CN¥15.24, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of CN¥13.70. Stock is down 2.1% over the past year. The company is forecast to post earnings per share of CN¥1.07 for next year compared to CN¥2.39 last year. Announcement • Sep 30
TBEA Co., Ltd. to Report Q3, 2024 Results on Oct 30, 2024 TBEA 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 22% After last week's 22% share price gain to CN¥14.64, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 17x in the Electrical industry in China. Total loss to shareholders of 14% over the past three years. Price Target Changed • Sep 10
Price target decreased by 7.5% to CN¥14.74 Down from CN¥15.94, the current price target is an average from 4 analysts. New target price is 24% above last closing price of CN¥11.89. Stock is down 18% over the past year. The company is forecast to post earnings per share of CN¥1.09 for next year compared to CN¥2.39 last year. Major Estimate Revision • Sep 05
Consensus EPS estimates fall by 27% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from CN¥1.53 to CN¥1.12 per share. Revenue forecast steady at CN¥100.0b. Net income forecast to grow 17% next year vs 44% growth forecast for Electrical industry in China. Consensus price target down from CN¥15.94 to CN¥15.24. Share price was steady at CN¥12.43 over the past week. Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: CN¥0.21 (vs CN¥0.55 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.21 (down from CN¥0.55 in 2Q 2023). Revenue: CN¥24.3b (up 3.4% from 2Q 2023). Net income: CN¥1.04b (down 62% from 2Q 2023). Profit margin: 4.3% (down from 12% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • Jun 28
TBEA Co., Ltd. to Report First Half, 2024 Results on Aug 30, 2024 TBEA Co., Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: CN¥0.40 (vs CN¥0.93 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.40 (down from CN¥0.93 in 1Q 2023). Revenue: CN¥23.6b (down 10% from 1Q 2023). Net income: CN¥1.99b (down 58% from 1Q 2023). Profit margin: 8.5% (down from 18% in 1Q 2023). Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Apr 15
Consensus EPS estimates fall by 22% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from CN¥1.93 to CN¥1.50 per share. Revenue forecast steady at CN¥103.2b. Net income forecast to shrink 29% next year vs 46% growth forecast for Electrical industry in China . Consensus price target down from CN¥16.14 to CN¥15.81. Share price fell 5.6% to CN¥14.39 over the past week. New Risk • Apr 12
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.2% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 1.2% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (11% net profit margin). Announcement • Apr 09
TBEA Co., Ltd., Annual General Meeting, May 07, 2024 TBEA Co., Ltd., Annual General Meeting, May 07, 2024, at 12:30 China Standard Time. Location: The Company's International Conference Center, Changji, Xinjiang China Reported Earnings • Apr 09
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: CN¥2.39 (down from CN¥3.17 in FY 2022). Revenue: CN¥98.2b (up 2.4% from FY 2022). Net income: CN¥10.7b (down 32% from FY 2022). Profit margin: 11% (down from 16% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 12%. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • Mar 29
TBEA Co., Ltd. to Report Q1, 2024 Results on Apr 30, 2024 TBEA Co., Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Price Target Changed • Mar 26
Price target decreased by 7.4% to CN¥16.14 Down from CN¥17.43, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of CN¥15.37. Stock is down 8.4% over the past year. The company is forecast to post earnings per share of CN¥2.14 for next year compared to CN¥3.17 last year. Announcement • Dec 29
TBEA Co., Ltd. to Report Fiscal Year 2023 Results on Apr 09, 2024 TBEA Co., Ltd. announced that they will report fiscal year 2023 results on Apr 09, 2024 Major Estimate Revision • Nov 03
Consensus EPS estimates fall by 22% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥101.0b to CN¥98.1b. EPS estimate also fell from CN¥2.66 per share to CN¥2.07 per share. Net income forecast to shrink 12% next year vs 60% growth forecast for Electrical industry in China . Consensus price target down from CN¥17.43 to CN¥16.93. Share price was steady at CN¥13.94 over the past week. Reported Earnings • Oct 31
Third quarter 2023 earnings released: EPS: CN¥0.83 (vs CN¥0.80 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.83. Revenue: CN¥23.9b (down 7.5% from 3Q 2022). Net income: CN¥1.91b (down 54% from 3Q 2022). Profit margin: 8.0% (down from 16% in 3Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Electrical industry in China. Major Estimate Revision • Sep 08
Consensus EPS estimates increase by 20% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from CN¥2.22 to CN¥2.66. Revenue forecast steady at CN¥101.0b. Net income forecast to shrink 24% next year vs 56% growth forecast for Electrical industry in China . Consensus price target down from CN¥18.27 to CN¥17.43. Share price fell 3.6% to CN¥14.32 over the past week. Major Estimate Revision • Aug 18
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥104.7b to CN¥100.0b. EPS estimate also fell from CN¥3.05 per share to CN¥2.67 per share. Net income forecast to shrink 16% next year vs 59% growth forecast for Electrical industry in China . Consensus price target of CN¥18.46 unchanged from last update. Share price fell 6.4% to CN¥15.09 over the past week. Major Estimate Revision • Jul 19
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from CN¥102.6b to CN¥104.7b. EPS estimate increased from CN¥2.75 to CN¥3.05 per share. Net income forecast to shrink 13% next year vs 56% growth forecast for Electrical industry in China . Consensus price target broadly unchanged at CN¥19.62. Share price fell 6.8% to CN¥16.41 over the past week. Announcement • Jun 28
TBEA Co., Ltd. to Report First Half, 2023 Results on Aug 16, 2023 TBEA Co., Ltd. announced that they will report first half, 2023 results on Aug 16, 2023 Price Target Changed • May 10
Price target increased by 7.3% to CN¥25.50 Up from CN¥23.77, the current price target is an average from 4 analysts. New target price is 7.1% above last closing price of CN¥23.80. Stock is up 24% over the past year. The company is forecast to post earnings per share of CN¥3.55 for next year compared to CN¥4.12 last year. Reported Earnings • Apr 26
First quarter 2023 earnings released: EPS: CN¥1.20 (vs CN¥0.82 in 1Q 2022) First quarter 2023 results: EPS: CN¥1.20 (up from CN¥0.82 in 1Q 2022). Revenue: CN¥26.3b (up 53% from 1Q 2022). Net income: CN¥4.72b (up 51% from 1Q 2022). Profit margin: 18% (in line with 1Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 22% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Announcement • Jan 08
TBEA Co., Ltd. (SHSE:600089) entered into an agreement to acquire Wuqi Huaguang New Energy Co., Ltd. from Shaanxi Tbea New Energy Co., Ltd. for CNY 34.79 million TBEA Co., Ltd. (SHSE:600089) entered into an agreement to acquire Wuqi Huaguang New Energy Co., Ltd. from Shaanxi Tbea New Energy Co., Ltd. for CNY 34.79 million on January 6, 2023. Wuqi Huaguang recorded net losses after tax of CNY 58.27 million for the year ended March 31, 2022. Price Target Changed • Dec 20
Price target decreased to CN¥26.58 Down from CN¥32.58, the current price target is an average from 4 analysts. New target price is 34% above last closing price of CN¥19.84. Stock is down 11% over the past year. The company is forecast to post earnings per share of CN¥3.13 for next year compared to CN¥1.88 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Qing Xia was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 30
Third quarter 2022 earnings released: EPS: CN¥1.05 (vs CN¥0.56 in 3Q 2021) Third quarter 2022 results: EPS: CN¥1.05 (up from CN¥0.56 in 3Q 2021). Revenue: CN¥25.9b (up 55% from 3Q 2021). Net income: CN¥4.15b (up 99% from 3Q 2021). Profit margin: 16% (up from 13% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 26% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 48% per year, which means it is significantly lagging earnings growth. Announcement • Oct 26
TBEA Co., Ltd. (SHSE:600089) announces an Equity Buyback for CNY 1,000 million worth of its shares. TBEA Co., Ltd. (SHSE:600089) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 1,000 million worth of its own shares. The plan will be valid for 12 months. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: CN¥1.00 (vs CN¥0.27 in 2Q 2021) Second quarter 2022 results: EPS: CN¥1.00 (up from CN¥0.27 in 2Q 2021). Revenue: CN¥21.7b (up 66% from 2Q 2021). Net income: CN¥3.78b (up 283% from 2Q 2021). Profit margin: 18% (up from 7.5% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 3.2% compared to a 55% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 59% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Jul 07
Consensus EPS estimates increase by 18% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from CN¥68.4b to CN¥72.0b. EPS estimate increased from CN¥2.38 to CN¥2.82 per share. Net income forecast to grow 27% next year vs 51% growth forecast for Electrical industry in China. Consensus price target up from CN¥27.94 to CN¥32.52. Share price rose 6.3% to CN¥29.11 over the past week. Price Target Changed • Jul 06
Price target increased to CN¥30.54 Up from CN¥27.94, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of CN¥29.13. Stock is up 127% over the past year. The company is forecast to post earnings per share of CN¥2.59 for next year compared to CN¥1.88 last year. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥27.50, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 22x in the Electrical industry in China. Total returns to shareholders of 315% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥25.96 per share. Price Target Changed • Jun 03
Price target increased to CN¥27.44 Up from CN¥24.70, the current price target is an average from 6 analysts. New target price is 22% above last closing price of CN¥22.54. Stock is up 96% over the past year. The company is forecast to post earnings per share of CN¥2.58 for next year compared to CN¥1.88 last year. Reported Earnings • Apr 27
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: CN¥0.82 (up from CN¥0.57 in 1Q 2021). Revenue: CN¥17.1b (up 81% from 1Q 2021). Net income: CN¥3.12b (up 47% from 1Q 2021). Profit margin: 18% (down from 22% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 27%. Over the next year, revenue is forecast to grow 2.9%, compared to a 51% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. 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. 2 highly experienced directors. 4 independent directors (7 non-independent directors). Independent Director Weihong Sun was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Apr 12
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: CN¥1.88 (up from CN¥0.59 in FY 2020). Revenue: CN¥61.4b (up 39% from FY 2020). Net income: CN¥7.25b (up 231% from FY 2020). Profit margin: 12% (up from 5.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 27%. Over the next year, revenue is forecast to grow 18%, compared to a 66% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.56 (vs CN¥0.17 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥16.6b (up 45% from 3Q 2020). Net income: CN¥2.08b (up 228% from 3Q 2020). Profit margin: 13% (up from 5.5% 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 41% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Oct 31
Price target increased to CN¥24.60 Up from CN¥22.37, the current price target is an average from 8 analysts. New target price is 8.9% below last closing price of CN¥27.01. Stock is up 229% over the past year. The company is forecast to post earnings per share of CN¥1.40 for next year compared to CN¥0.59 last year. Price Target Changed • Oct 31
Price target increased to CN¥24.60 Up from CN¥22.37, the current price target is an average from 8 analysts. New target price is 8.9% below last closing price of CN¥27.01. Stock is up 229% over the past year. The company is forecast to post earnings per share of CN¥1.40 for next year compared to CN¥0.59 last year. Price Target Changed • Aug 30
Price target increased to CN¥17.19 Up from CN¥15.30, the current price target is an average from 7 analysts. New target price is 23% below last closing price of CN¥22.30. Stock is up 173% over the past year. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS CN¥0.27 (vs CN¥0.14 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥13.1b (up 30% from 2Q 2020). Net income: CN¥987.1m (up 94% from 2Q 2020). Profit margin: 7.5% (up from 5.0% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥18.94, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 33x in the Electrical industry in China. Total returns to shareholders of 197% over the past three years. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥14.84, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 27x in the Electrical industry in China. Total returns to shareholders of 140% over the past three years. Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥12.48, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 25x in the Electrical industry in China. Total returns to shareholders of 100% over the past three years. Reported Earnings • May 02
First quarter 2021 earnings released: EPS CN¥0.57 (vs CN¥0.11 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥9.45b (up 20% from 1Q 2020). Net income: CN¥2.12b (up 415% from 1Q 2020). Profit margin: 22% (up from 5.2% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Apr 21
Consensus revenue estimates increase to CN¥51.7b The consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from CN¥44.3b to CN¥51.7b. EPS estimate increased from CN¥0.82 to CN¥0.88 per share. Net income forecast to grow 61% next year vs 45% growth forecast for Electrical industry in China. Consensus price target broadly unchanged at CN¥14.82. Share price rose 4.1% to CN¥11.43 over the past week. Reported Earnings • Apr 16
Full year 2020 earnings released: EPS CN¥0.59 (vs CN¥0.47 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥44.2b (up 19% from FY 2019). Net income: CN¥2.49b (up 43% from FY 2019). Profit margin: 5.6% (up from 4.7% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jan 18
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥11.28, the stock is trading at a trailing P/E ratio of 25.7x, up from the previous P/E ratio of 22.3x. This compares to an average P/E of 34x in the Electrical industry in China. Total returns to shareholders over the past three years are 20%. Is New 90 Day High Low • Jan 14
New 90-day high: CN¥10.90 The company is up 18% from its price of CN¥9.21 on 16 October 2020. The Chinese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electrical industry, which is up 22% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥3.47 per share. Price Target Changed • Dec 18
Price target raised to CN¥9.94 Up from CN¥9.05, the current price target is an average from 4 analysts. The new target price is 6.0% above the current share price of CN¥9.38. As of last close, the stock is up 42% over the past year. Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥9.38, the stock is trading at a trailing P/E ratio of 21.4x, up from the previous P/E ratio of 18.3x. This compares to an average P/E of 37x in the Electrical industry in China. Total returns to shareholders over the past three years are 2.6%. Is New 90 Day High Low • Dec 11
New 90-day low: CN¥8.04 The company is down 5.0% from its price of CN¥8.47 on 11 September 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥3.29 per share. Reported Earnings • Nov 03
Third quarter 2020 earnings released: EPS CN¥0.17 The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2020 results: Revenue: CN¥11.5b (up 37% from 3Q 2019). Net income: CN¥635.7m (up 2.6% from 3Q 2019). Profit margin: 5.5% (down from 7.4% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Oct 28
TBEA Co., Ltd. to Report Q3, 2020 Results on Oct 31, 2020 TBEA Co., Ltd. announced that they will report Q3, 2020 results on Oct 31, 2020 Is New 90 Day High Low • Oct 10
New 90-day high: CN¥9.26 The company is up 27% from its price of CN¥7.32 on 10 July 2020. The Chinese market is down 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥1.56 per share. Announcement • Jul 17
TBEA Co., Ltd. to Report First Half, 2020 Results on Aug 28, 2020 TBEA Co., Ltd. announced that they will report first half, 2020 results on Aug 28, 2020 
