New Risk • Jun 15
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.2x net interest cover). Share price has been highly volatile over the past 3 months (11% average weekly change). Reported Earnings • Apr 24
First quarter 2026 earnings: EPS misses analyst expectations First quarter 2026 results: EPS: CN¥0.023 (up from CN¥0.022 loss in 1Q 2025). Revenue: CN¥2.54b (up 80% from 1Q 2025). Net income: CN¥40.1m (up CN¥77.8m from 1Q 2025). Profit margin: 1.6% (up from net loss in 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 23% 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, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Announcement • Apr 23
Nuode New Materials Co.,Ltd., Annual General Meeting, May 13, 2026 Nuode New Materials Co.,Ltd., Annual General Meeting, May 13, 2026, at 14:00 China Standard Time. Location: 30F, Tower A1, Chuangzhi Cloud Center, Guangxia Road, Futian District, Shenzhen, Guangdong China Price Target Changed • Apr 08
Price target increased by 150% to CN¥10.00 Up from CN¥4.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of CN¥9.82. Stock is up 195% over the past year. The company is forecast to post a net loss per share of CN¥0.15 next year compared to a net loss per share of CN¥0.20 last year. New Risk • Apr 08
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 Interest payments are not well covered by earnings (0.1x net interest cover). Minor Risk Share price has been volatile over the past 3 months (8.3% average weekly change). Announcement • Mar 30
Nuode New Materials Co.,Ltd. to Report Q1, 2026 Results on Apr 23, 2026 Nuode New Materials Co.,Ltd. announced that they will report Q1, 2026 results on Apr 23, 2026 Announcement • Dec 26
Nuode New Materials Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 23, 2026 Nuode New Materials Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 23, 2026 Reported Earnings • Oct 23
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: CN¥0.012 loss per share (improved from CN¥0.033 loss in 3Q 2024). Revenue: CN¥1.78b (up 34% from 3Q 2024). Net loss: CN¥21.3m (loss narrowed 64% from 3Q 2024). Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 140%. Revenue is forecast to grow 21% 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, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Announcement • Sep 30
Nuode New Materials Co.,Ltd. to Report Q3, 2025 Results on Oct 23, 2025 Nuode New Materials Co.,Ltd. announced that they will report Q3, 2025 results on Oct 23, 2025 New Risk • Sep 16
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 45% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk High level of debt (45% net debt to equity). Major Estimate Revision • Aug 14
Consensus revenue estimates increase by 21%, EPS downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from CN¥5.77b to CN¥6.99b. EPS expected loss of CN¥0.047 per share, down from profit of CN¥0.041 per share previously. Electrical industry in China expected to see average net income growth of 46% next year. Consensus price target of CN¥3.90 unchanged from last update. Share price rose 3.2% to CN¥6.36 over the past week. Announcement • Jun 30
Nuode New Materials Co.,Ltd. to Report First Half, 2025 Results on Aug 30, 2025 Nuode New Materials Co.,Ltd. announced that they will report first half, 2025 results on Aug 30, 2025 New Risk • Jun 19
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 8.2% 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 (9.1% operating cash flow to total debt). Minor Risk Share price has been volatile over the past 3 months (8.2% average weekly change). Reported Earnings • Apr 25
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: CN¥0.022 loss per share (improved from CN¥0.054 loss in 1Q 2024). Revenue: CN¥1.41b (up 34% from 1Q 2024). Net loss: CN¥37.7m (loss narrowed 60% from 1Q 2024). Revenue missed analyst estimates by 5.2%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 24% 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, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Announcement • Apr 22
Nuode New Materials Co.,Ltd., Annual General Meeting, May 13, 2025 Nuode New Materials Co.,Ltd., Annual General Meeting, May 13, 2025, at 14:00 China Standard Time. Location: 30F, Tower A1, No. 1, Guangxia Road, Futian District, Shenzhen, Guangdong China Announcement • Mar 28
Nuode New Materials Co.,Ltd. to Report Q1, 2025 Results on Apr 22, 2025 Nuode New Materials Co.,Ltd. announced that they will report Q1, 2025 results on Apr 22, 2025 Announcement • Dec 27
Nuode New Materials Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 30, 2025 Nuode New Materials Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 30, 2025 New Risk • Nov 26
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 11% 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). Dividend is not well covered by earnings and cash flows. Payout ratio: 164% Paying a dividend despite having no free cash flows. Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). Reported Earnings • Oct 30
Third quarter 2024 earnings released: CN¥0.033 loss per share (vs CN¥0.029 loss in 3Q 2023) Third quarter 2024 results: CN¥0.033 loss per share (further deteriorated from CN¥0.029 loss in 3Q 2023). Revenue: CN¥1.32b (down 8.4% from 3Q 2023). Net loss: CN¥58.4m (loss widened 14% from 3Q 2023). Revenue is forecast to grow 29% 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, the company's share price growth rate has exceeded its earnings growth rate by 47 percentage points per year, which is a significant difference in performance. New Risk • Sep 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 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Payout ratio: 164% Paying a dividend despite having no free cash flows. Minor Risk Share price has been volatile over the past 3 months (6.9% average weekly change). Announcement • Sep 30
Nuode New Materials Co.,Ltd. to Report Q3, 2024 Results on Oct 30, 2024 Nuode New Materials Co.,Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Reported Earnings • Aug 28
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: CN¥0.037 loss per share (down from CN¥0.02 profit in 2Q 2023). Revenue: CN¥1.34b (up 23% from 2Q 2023). Net loss: CN¥64.7m (down 282% from profit in 2Q 2023). Revenue exceeded analyst estimates by 42%. Earnings per share (EPS) also surpassed analyst estimates by 28%. Revenue is forecast to grow 26% 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, the company's share price growth rate has exceeded its earnings growth rate by 25 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Jul 20
Consensus revenue estimates fall by 15% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥6.17b to CN¥5.25b. Forecast loss of -CN¥0.113, down from profit of CN¥0.024 per share profit previously. Electrical industry in China expected to see average net income growth of 41% next year. Consensus price target down from CN¥5.50 to CN¥4.00. Share price fell 3.2% to CN¥3.04 over the past week. Announcement • Jun 28
Nuode New Materials Co.,Ltd. to Report First Half, 2024 Results on Aug 28, 2024 Nuode New Materials Co.,Ltd. announced that they will report first half, 2024 results on Aug 28, 2024 Price Target Changed • May 09
Price target increased by 26% to CN¥5.50 Up from CN¥4.35, the current price target is provided by 1 analyst. New target price is 23% above last closing price of CN¥4.47. Stock is down 39% over the past year. The company is forecast to post earnings per share of CN¥0.024 for next year compared to CN¥0.017 last year. Reported Earnings • May 03
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: CN¥0.054 loss per share (down from CN¥0.029 profit in 1Q 2023). Revenue: CN¥1.05b (down 8.8% from 1Q 2023). Net loss: CN¥94.4m (down 288% from profit in 1Q 2023). Revenue missed analyst estimates by 15%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 20% 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 41% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 11
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.017 (down from CN¥0.21 in FY 2022). Revenue: CN¥4.57b (down 2.9% from FY 2022). Net income: CN¥27.3m (down 92% from FY 2022). Profit margin: 0.6% (down from 7.5% in FY 2022). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 4.6%. Earnings per share (EPS) also missed analyst estimates by 26%. Revenue is forecast to grow 17% 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 9% per year whereas the company’s share price has fallen by 11% per year. Announcement • Apr 10
Nuode New Materials Co.,Ltd., Annual General Meeting, May 17, 2024 Nuode New Materials Co.,Ltd., Annual General Meeting, May 17, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Shenzhen, Guangdong China Announcement • Mar 29
Nuode New Materials Co.,Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Nuode New Materials Co.,Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 New Risk • Feb 09
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.4% 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 164% Paying a dividend despite having no free cash flows. Earnings are forecast to decline by an average of 0.4% per year for the foreseeable future. High level of non-cash earnings (24% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (2.1% net profit margin). Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥4.00, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 13x in the Electrical industry in China. Total loss to shareholders of 52% over the past three years. Announcement • Dec 29
Nuode New Materials Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 26, 2024 Nuode New Materials Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 26, 2024 Price Target Changed • Dec 15
Price target decreased by 33% to CN¥3.70 Down from CN¥5.50, the current price target is provided by 1 analyst. New target price is 33% below last closing price of CN¥5.54. Stock is down 36% over the past year. The company is forecast to post earnings per share of CN¥0.31 for next year compared to CN¥0.21 last year. New Risk • Oct 26
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 164% Paying a dividend despite having no free cash flows. High level of non-cash earnings (24% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (2.1% net profit margin). Reported Earnings • Oct 26
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: CN¥0.029 loss per share (down from CN¥0.044 profit in 3Q 2022). Revenue: CN¥1.44b (up 17% from 3Q 2022). Net loss: CN¥51.4m (down 167% from profit in 3Q 2022). Revenue missed analyst estimates by 27%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 21% p.a. on average 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 30% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Nuode New Materials Co.,Ltd. to Report Q3, 2023 Results on Oct 26, 2023 Nuode New Materials Co.,Ltd. announced that they will report Q3, 2023 results on Oct 26, 2023 Major Estimate Revision • Sep 21
Consensus revenue estimates fall by 32% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥6.91b to CN¥4.67b. EPS estimate fell from CN¥0.21 to CN¥0.11 per share. Net income forecast to shrink 15% next year vs 56% growth forecast for Electrical industry in China . Consensus price target up from CN¥5.50 to CN¥5.70. Share price was steady at CN¥5.98 over the past week. New Risk • Aug 17
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 20% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (20% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (4.8% net profit margin). Reported Earnings • Aug 17
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: CN¥0.02 (down from CN¥0.044 in 2Q 2022). Revenue: CN¥1.09b (up 16% from 2Q 2022). Net income: CN¥35.5m (down 53% from 2Q 2022). Profit margin: 3.3% (down from 8.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 27%. Earnings per share (EPS) also missed analyst estimates by 64%. Revenue is forecast to grow 32% p.a. on average 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 58% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Jun 28
Nuode New Materials Co.,Ltd. to Report First Half, 2023 Results on Aug 17, 2023 Nuode New Materials Co.,Ltd. announced that they will report first half, 2023 results on Aug 17, 2023 Reported Earnings • Apr 26
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥0.21 (down from CN¥0.29 in FY 2021). Revenue: CN¥4.71b (up 5.9% from FY 2021). Net income: CN¥352.3m (down 13% from FY 2021). Profit margin: 7.5% (down from 9.1% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) also missed analyst estimates by 17%. Revenue is forecast to grow 43% p.a. on average during the next 2 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 92% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
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. 6 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Director Weiqiu Lv was the last director to join the board, commencing their role in 2011. 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 • Oct 27
Third quarter 2022 earnings released: EPS: CN¥0.044 (vs CN¥0.086 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.044 (down from CN¥0.086 in 3Q 2021). Revenue: CN¥1.24b (flat on 3Q 2021). Net income: CN¥77.0m (down 36% from 3Q 2021). Profit margin: 6.2% (down from 9.8% in 3Q 2021). Revenue is forecast to grow 42% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 24
Second quarter 2022 earnings released: EPS: CN¥0.044 (vs CN¥0.097 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.044 (down from CN¥0.097 in 2Q 2021). Revenue: CN¥941.1m (down 16% from 2Q 2021). Net income: CN¥76.2m (down 44% from 2Q 2021). Profit margin: 8.1% (down from 12% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 65%, compared to a 61% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 28
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: CN¥0.084 (up from CN¥0.047 in 1Q 2021). Revenue: CN¥1.11b (up 25% from 1Q 2021). Net income: CN¥126.9m (up 94% from 1Q 2021). Profit margin: 11% (up from 7.4% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) missed analyst estimates by 9.4%. Over the next year, revenue is forecast to grow 52%, compared to a 52% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target decreased to CN¥18.20 Down from CN¥22.00, the current price target is an average from 2 analysts. New target price is 110% above last closing price of CN¥8.67. Stock is up 13% over the past year. The company is forecast to post earnings per share of CN¥0.58 for next year compared to CN¥0.29 last year. 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. 5 experienced directors. 3 highly experienced directors. 3 independent directors (5 non-independent directors). Director Weiqiu Lv was the last director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 26
Nuode Investment Co.,Ltd (SHSE:600110) announces an Equity Buyback for CNY 150 million worth of its shares. Nuode Investment Co.,Ltd (SHSE:600110) announces a share repurchase program. Under the program, the company will repurchase up to CNY 150 million worth of its shares. The program is valid for 12 months. Buying Opportunity • Apr 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 32%. The fair value is estimated to be CN¥11.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 41%. Revenue is forecast to grow by 83% in 2 years. Earnings is forecast to grow by 204% in the next 2 years. Reported Earnings • Apr 19
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥0.29 (up from CN¥0.005 in FY 2020). Revenue: CN¥4.45b (up 106% from FY 2020). Net income: CN¥405.1m (up CN¥399.7m from FY 2020). Profit margin: 9.1% (up from 0.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) missed analyst estimates by 9.4%. Over the next year, revenue is forecast to grow 55%, compared to a 68% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥12.66, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 24x in the Electrical industry in China. Total returns to shareholders of 131% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥13.29 per share. Reported Earnings • Mar 02
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥0.29 (up from CN¥0.005 in FY 2020). Revenue: CN¥4.48b (up 108% from FY 2020). Net income: CN¥404.4m (up CN¥399.1m from FY 2020). Profit margin: 9.0% (up from 0.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) missed analyst estimates by 12%. Over the next year, revenue is forecast to grow 44%, compared to a 62% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 41% per year whereas the company’s share price has increased by 42% per year. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥15.79, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 33x in the Electrical industry in China. Total returns to shareholders of 289% over the past three years. Reported Earnings • Aug 03
Second quarter 2021 earnings released: EPS CN¥0.097 (vs CN¥0.007 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥1.12b (up 152% from 2Q 2020). Net income: CN¥136.1m (up CN¥144.5m from 2Q 2020). Profit margin: 12% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 41% per year, which means it is well ahead of earnings. Announcement • Jun 08
Nuode Investment Co.,Ltd announced that it expects to receive CNY 2.2882 billion in funding from Shenzhen Bangmin Venture Investment Co., Ltd., Shenzhen Hongyuan New Materials Co., Ltd., Shenzhen Bangmin New Materials Co., Ltd. Nuode Investment Co.,Ltd (SHSE:600110) announced that it has signed conditional effective shares subscription agreement for a private placement of not more than 340,000,000 shares at a price of CNY 6.73 per share for gross proceeds of not more than CNY 2,288,200,000 on June 7, 2021. The transaction will include participation from returning investor Shenzhen Bangmin Venture Investment Co., Ltd. for 40,000,000 shares, along with Shenzhen Hongyuan New Materials Co., Ltd. for 150,000,000 shares and Shenzhen Bangmin New Materials Co., Ltd. for 150,000,000 shares. The shares carry a hold period of 18 months from issue date. The transaction has been approved by 40th meeting of the company's ninth board of directors and at the 18th session of the 9th supervisory board and is subject to approval of the company’s general meeting of shareholders and China Securities Regulatory Commission. Reported Earnings • Apr 28
First quarter 2021 earnings released: EPS CN¥0.047 (vs CN¥0.008 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥889.5m (up 156% from 1Q 2020). Net income: CN¥65.4m (up CN¥74.7m from 1Q 2020). Profit margin: 7.4% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. 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. Is New 90 Day High Low • Jan 21
New 90-day high: CN¥11.76 The company is up 94% from its price of CN¥6.07 on 23 October 2020. The Chinese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 26% over the same period. Is New 90 Day High Low • Jan 04
New 90-day high: CN¥10.18 The company is up 90% from its price of CN¥5.35 on 30 September 2020. The Chinese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 30% over the same period. Is New 90 Day High Low • Dec 18
New 90-day high: CN¥8.07 The company is up 41% from its price of CN¥5.71 on 18 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 14% over the same period. Is New 90 Day High Low • Nov 14
New 90-day high: CN¥8.05 The company is up 56% from its price of CN¥5.16 on 14 August 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 10.0% over the same period. Reported Earnings • Oct 28
Third quarter earnings released Over the last 12 months the company has reported total losses of CN¥310.3m, with earnings decreasing by CN¥407.2m from the prior year. Total revenue was CN¥1.24b over the last 12 months, down 53% from the prior year. Is New 90 Day High Low • Oct 27
New 90-day high: CN¥6.49 The company is up 36% from its price of CN¥4.77 on 29 July 2020. The Chinese market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 10.0% over the same period. Is New 90 Day High Low • Oct 12
New 90-day high: CN¥6.42 The company is up 17% from its price of CN¥5.49 on 14 July 2020. The Chinese market is down 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is down 2.0% over the same period. Announcement • Jul 08
Nuode Investment Co.,Ltd to Report First Half, 2020 Results on Aug 20, 2020 Nuode Investment Co.,Ltd announced that they will report first half, 2020 results on Aug 20, 2020