Buy Or Sell Opportunity • Jul 10
Now 20% overvalued Over the last 90 days, the stock has fallen 16% to CN¥22.04. The fair value is estimated to be CN¥18.29, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 7.3%. Revenue is forecast to grow by 30% in 2 years. Earnings are forecast to grow by 28% in the next 2 years. Announcement • Jun 30
NARI Technology Co., Ltd. to Report First Half, 2026 Results on Aug 27, 2026 NARI Technology Co., Ltd. announced that they will report first half, 2026 results on Aug 27, 2026 Declared Dividend • Jun 29
Dividend of CN¥0.47 announced Shareholders will receive a dividend of CN¥0.47. Ex-date: 30th June 2026 Payment date: 30th June 2026 Dividend yield will be 2.7%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by both earnings (60% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 39% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 30
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: EPS: CN¥0.09 (up from CN¥0.085 in 1Q 2025). Revenue: CN¥9.56b (up 7.5% from 1Q 2025). Net income: CN¥721.3m (up 6.0% from 1Q 2025). Profit margin: 7.5% (down from 7.6% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) also missed analyst estimates by 5.3%. Revenue is forecast to grow 12% 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 7% per year whereas the company’s share price has increased by 6% per year. Announcement • Apr 30
NARI Technology Co., Ltd., Annual General Meeting, May 22, 2026 NARI Technology Co., Ltd., Annual General Meeting, May 22, 2026, at 14:30 China Standard Time. Location: No. 19, Chengxin Avenue, Jiangning District, Nanjing, Jiangsu China Announcement • Mar 30
NARI Technology Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 NARI Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Announcement • Dec 26
NARI Technology Co., Ltd. to Report Fiscal Year 2025 Results on Apr 30, 2026 NARI Technology Co., Ltd. announced that they will report fiscal year 2025 results on Apr 30, 2026 Buy Or Sell Opportunity • Nov 22
Now 20% undervalued Over the last 90 days, the stock has risen 1.7% to CN¥22.24. The fair value is estimated to be CN¥27.86, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 8.2%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Reported Earnings • Oct 31
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: EPS: CN¥0.24 (up from CN¥0.22 in 3Q 2024). Revenue: CN¥14.3b (up 17% from 3Q 2024). Net income: CN¥1.90b (up 7.8% from 3Q 2024). Profit margin: 13% (down from 14% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 1.2%. Revenue is forecast to grow 12% 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 8% per year whereas the company’s share price has increased by 3% per year. Announcement • Sep 30
NARI Technology Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 NARI Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Reported Earnings • Aug 31
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: EPS: CN¥0.28 (in line with 2Q 2024). Revenue: CN¥15.3b (up 23% from 2Q 2024). Net income: CN¥2.27b (up 7.3% from 2Q 2024). Profit margin: 15% (down from 17% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 7.6%. Earnings per share (EPS) missed analyst estimates by 5.3%. Revenue is forecast to grow 11% 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 increased by 9% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jul 23
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.1% to CN¥22.65. The fair value is estimated to be CN¥29.55, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 9.1%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Announcement • Jun 30
NARI Technology Co., Ltd. to Report First Half, 2025 Results on Aug 28, 2025 NARI Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Buy Or Sell Opportunity • Jun 26
Now 20% undervalued Over the last 90 days, the stock has risen 1.8% to CN¥22.73. The fair value is estimated to be CN¥28.51, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 9.1%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Declared Dividend • Jun 25
Dividend of CN¥0.43 announced Shareholders will receive a dividend of CN¥0.43. Ex-date: 27th June 2025 Payment date: 27th June 2025 Dividend yield will be 2.5%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 35% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 24
NARI Technology Co., Ltd.(SHSE:600406) dropped from Shanghai Stock Exchange 180 Value Index NARI Technology Co., Ltd. has been removed from Shanghai Stock Exchange 180 Value Index. Reported Earnings • May 01
Third quarter 2024 earnings released: EPS: CN¥0.22 (vs CN¥0.21 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.22 (up from CN¥0.21 in 3Q 2023). Revenue: CN¥12.2b (up 18% from 3Q 2023). Net income: CN¥1.76b (up 6.3% from 3Q 2023). Profit margin: 14% (down from 16% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 4 years, compared to a 17% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Apr 29
NARI Technology Co., Ltd., Annual General Meeting, May 27, 2025 NARI Technology Co., Ltd., Annual General Meeting, May 27, 2025, at 14:30 China Standard Time. Announcement • Apr 15
NARI Technology Co., Ltd. (SHSE:600406) announces an Equity Buyback for CNY 1,000 million worth of its shares. NARI Technology Co., Ltd. (SHSE:600406) announces a share repurchase program. Under the program, the company will repurchase up to CNY 1,000 million worth of its shares. The shares will be purchased at a price not exceeding CNY 34.13 per share. The repurchased shares will be used for the implementation of equity incentive plan. The program will be valid for 12 months till April 13, 2026. Announcement • Mar 28
NARI Technology Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 NARI Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Announcement • Dec 27
NARI Technology Co., Ltd. to Report Fiscal Year 2024 Results on Apr 29, 2025 NARI Technology Co., Ltd. announced that they will report fiscal year 2024 results on Apr 29, 2025 Announcement • Sep 30
NARI Technology Co., Ltd. to Report Q3, 2024 Results on Oct 30, 2024 NARI Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Reported Earnings • Sep 01
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: EPS: CN¥0.27 (up from CN¥0.23 in 2Q 2023). Revenue: CN¥12.4b (up 2.7% from 2Q 2023). Net income: CN¥2.11b (up 6.9% from 2Q 2023). Profit margin: 17% (in line with 2Q 2023). Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) exceeded analyst estimates by 5.9%. Revenue is forecast to grow 11% 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 11% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Jun 28
NARI Technology Co., Ltd. to Report First Half, 2024 Results on Aug 29, 2024 NARI Technology Co., Ltd. announced that they will report first half, 2024 results on Aug 29, 2024 Declared Dividend • Jun 11
Dividend of CN¥0.54 announced Shareholders will receive a dividend of CN¥0.54. Ex-date: 14th June 2024 Payment date: 14th June 2024 Dividend yield will be 2.3%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by both earnings (60% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 46% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 27
First quarter 2024 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2024 results: EPS: CN¥0.075 (up from CN¥0.07 in 1Q 2023). Revenue: CN¥7.70b (up 24% from 1Q 2023). Net income: CN¥595.7m (up 14% from 1Q 2023). Profit margin: 7.7% (down from 8.5% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% 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 13% per year whereas the company’s share price has increased by 9% per year. Announcement • Apr 27
NARI Technology Co., Ltd., Annual General Meeting, May 20, 2024 NARI Technology Co., Ltd., Annual General Meeting, May 20, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Nanjing, Jiangsu China Announcement • Mar 30
NARI Technology Co., Ltd. to Report Q1, 2024 Results on Apr 30, 2024 NARI Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Announcement • Dec 29
NARI Technology Co., Ltd. to Report Fiscal Year 2023 Results on Apr 26, 2024 NARI Technology Co., Ltd. announced that they will report fiscal year 2023 results on Apr 26, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: CN¥0.21 (up from CN¥0.19 in 3Q 2022). Revenue: CN¥10.3b (up 11% from 3Q 2022). Net income: CN¥1.66b (up 7.5% from 3Q 2022). Profit margin: 16% (in line with 3Q 2022). Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 4.5%. Revenue is forecast to grow 13% 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 14% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 21
NARI Technology Co., Ltd. (SHSE:600406) announces an Equity Buyback for CNY 1,000 million worth of its shares. NARI Technology Co., Ltd. (SHSE:600406) announces a share repurchase program. Under the program, the company will repurchase up to its A shares for a total of CNY 1,000 million. The shares will be purchased at a price not exceeding CNY 34.05 per share. The repurchased shares will be used for the implementation of equity incentive plan. If the company fails to implement the above purposes within 36 months after the completion of the share repurchase, the unused portion will be cancelled. The program will be funded from company's own funds. The program will be valid for 12 months till October 18, 2024. Price Target Changed • Jun 21
Price target increased by 19% to CN¥32.58 Up from CN¥27.40, the current price target is an average from 14 analysts. New target price is 43% above last closing price of CN¥22.79. Stock is up 3.4% over the past year. The company is forecast to post earnings per share of CN¥1.10 for next year compared to CN¥0.81 last year. Reported Earnings • Apr 29
First quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2023 results: EPS: CN¥0.08 (up from CN¥0.057 in 1Q 2022). Revenue: CN¥6.20b (up 7.7% from 1Q 2022). Net income: CN¥525.7m (up 39% from 1Q 2022). Profit margin: 8.5% (up from 6.6% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 15%. Earnings per share (EPS) exceeded analyst estimates by 33%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent Director Xueliang Huang was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 29
Third quarter 2022 earnings: EPS misses analyst expectations Third quarter 2022 results: EPS: CN¥0.23 (up from CN¥0.21 in 3Q 2021). Revenue: CN¥9.29b (up 10% from 3Q 2021). Net income: CN¥1.55b (up 14% from 3Q 2021). Profit margin: 17% (in line with 3Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.2%. Revenue is forecast to grow 14% 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 14% per year whereas the company’s share price has increased by 17% per year. Reported Earnings • Sep 03
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: EPS: CN¥0.26 (up from CN¥0.24 in 2Q 2021). Revenue: CN¥10.6b (up 6.9% from 2Q 2021). Net income: CN¥1.73b (up 5.4% from 2Q 2021). Profit margin: 16% (in line with 2Q 2021). Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) also missed analyst estimates by 14%. Over the next year, revenue is forecast to grow 19%, compared to a 54% growth forecast for the Electrical industry in China. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 30
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: CN¥0.07 (up from CN¥0.037 in 1Q 2021). Revenue: CN¥5.75b (up 17% from 1Q 2021). Net income: CN¥379.1m (up 88% from 1Q 2021). Profit margin: 6.6% (up from 4.1% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) exceeded analyst estimates by 75%. Over the next year, revenue is forecast to grow 22%, compared to a 57% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥32.00, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 17x in the Electrical industry in China. Total returns to shareholders of 102% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥25.14 per share. 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 (6 non-independent directors). Independent Director Yanren Xiong 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. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.24 (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¥8.43b (up 6.1% from 3Q 2020). Net income: CN¥1.35b (up 15% from 3Q 2020). Profit margin: 16% (up from 15% 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 9% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Sep 02
Price target increased to CN¥35.52 Up from CN¥32.72, the current price target is an average from 16 analysts. New target price is approximately in line with last closing price of CN¥36.78. Stock is up 105% over the past year. Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥36.78, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 28x in the Electrical industry in China. Total returns to shareholders of 196% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥24.05 per share. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥32.03, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 29x in the Electrical industry in China. Total returns to shareholders of 163% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥25.83 per share. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment deteriorated over the past week After last week's 19% share price decline to CN¥23.42, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 23x in the Electrical industry in China. Total returns to shareholders of 57% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥30.35 per share. Price Target Changed • Apr 26
Price target increased to CN¥33.37 Up from CN¥31.04, the current price target is an average from 15 analysts. New target price is approximately in line with last closing price of CN¥31.93. Stock is up 63% over the past year. Reported Earnings • Apr 25
Full year 2020 earnings released: EPS CN¥1.06 (vs CN¥0.94 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: CN¥38.5b (up 19% from FY 2019). Net income: CN¥4.85b (up 12% from FY 2019). Profit margin: 13% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥26.64, the stock is trading at a trailing P/E ratio of 26x, down from the previous P/E ratio of 30.9x. This compares to an average P/E of 33x in the Electrical industry in China. Total returns to shareholders over the past three years are 65%. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥33.78, the stock is trading at a trailing P/E ratio of 33x, up from the previous P/E ratio of 28.6x. This compares to an average P/E of 31x in the Electrical industry in China. Total returns to shareholders over the past three years are 126%. Is New 90 Day High Low • Feb 09
New 90-day high: CN¥33.38 The company is up 46% from its price of CN¥22.88 on 11 November 2020. The Chinese market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥5.01 per share. Is New 90 Day High Low • Jan 18
New 90-day high: CN¥28.89 The company is up 40% from its price of CN¥20.64 on 20 October 2020. The Chinese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 23% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥4.98 per share. Is New 90 Day High Low • Dec 24
New 90-day high: CN¥25.90 The company is up 34% from its price of CN¥19.33 on 24 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 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥4.73 per share. Is New 90 Day High Low • Nov 10
New 90-day high: CN¥23.15 The company is up 10.0% from its price of CN¥21.08 on 12 August 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electrical industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥4.44 per share. Analyst Estimate Surprise Post Earnings • Nov 03
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 8.7%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Over the next year, revenue is forecast to grow 17%, compared to a 37% growth forecast for the Electrical industry in China. Reported Earnings • Nov 03
Third quarter 2020 earnings released: EPS CN¥0.25 The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: CN¥7.94b (up 27% from 3Q 2019). Net income: CN¥1.17b (up 24% from 3Q 2019). Profit margin: 15% (in line with 3Q 2019). Over the last 3 years on average, earnings per share has increased by 8% per year and the company’s share price has also increased by 8% per year. Announcement • Oct 29
NARI Technology Co., Ltd. to Report Q3, 2020 Results on Oct 31, 2020 NARI Technology Co., Ltd. announced that they will report Q3, 2020 results on Oct 31, 2020 Announcement • Jul 17
NARI Technology Co., Ltd. to Report First Half, 2020 Results on Aug 29, 2020 NARI Technology Co., Ltd. announced that they will report first half, 2020 results on Aug 29, 2020