Reported Earnings • Apr 28
First quarter 2026 earnings released: EPS: CN¥0.33 (vs CN¥0.31 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.33 (up from CN¥0.31 in 1Q 2025). Revenue: CN¥1.18b (up 4.2% from 1Q 2025). Net income: CN¥133.9m (up 6.0% from 1Q 2025). Profit margin: 11% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has increased by 14% 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 28
China National Electric Apparatus Research Institute Co., Ltd., Annual General Meeting, May 28, 2026 China National Electric Apparatus Research Institute Co., Ltd., Annual General Meeting, May 28, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Guangzhou, Guangdong China Announcement • Mar 30
China National Electric Apparatus Research Institute Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 China National Electric Apparatus Research Institute Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 Reported Earnings • Jan 18
Full year 2025 earnings released: EPS: CN¥1.32 (vs CN¥1.15 in FY 2024) Full year 2025 results: EPS: CN¥1.32 (up from CN¥1.15 in FY 2024). Revenue: CN¥4.77b (up 5.4% from FY 2024). Net income: CN¥532.6m (up 14% from FY 2024). Profit margin: 11% (in line with FY 2024). 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 18% per year. Announcement • Dec 26
China National Electric Apparatus Research Institute Co., Ltd. to Report Fiscal Year 2025 Results on Apr 28, 2026 China National Electric Apparatus Research Institute Co., Ltd. announced that they will report fiscal year 2025 results on Apr 28, 2026 New Risk • Dec 04
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 9.2% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Oct 28
Third quarter 2025 earnings released: EPS: CN¥0.30 (vs CN¥0.30 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.30. Revenue: CN¥1.15b (up 4.8% from 3Q 2024). Net income: CN¥122.8m (down 1.6% from 3Q 2024). Profit margin: 11% (in line with 3Q 2024). Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥36.53, the stock trades at a trailing P/E ratio of 28x. Average trailing P/E is 53x in the Electrical industry in China. Total returns to shareholders of 109% over the past three years. Announcement • Sep 30
China National Electric Apparatus Research Institute Co., Ltd. to Report Q3, 2025 Results on Oct 28, 2025 China National Electric Apparatus Research Institute Co., Ltd. announced that they will report Q3, 2025 results on Oct 28, 2025 New Risk • Sep 23
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 7.0% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥32.48, the stock trades at a trailing P/E ratio of 24.9x. Average trailing P/E is 50x in the Electrical industry in China. Total returns to shareholders of 79% over the past three years. Reported Earnings • Aug 23
Second quarter 2025 earnings released: EPS: CN¥0.33 (vs CN¥0.32 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.33 (up from CN¥0.32 in 2Q 2024). Revenue: CN¥1.20b (flat on 2Q 2024). Net income: CN¥131.9m (up 4.2% from 2Q 2024). Profit margin: 11% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 11% per year. Announcement • Jun 30
China National Electric Apparatus Research Institute Co., Ltd. to Report First Half, 2025 Results on Aug 29, 2025 China National Electric Apparatus Research Institute Co., Ltd. announced that they will report first half, 2025 results on Aug 29, 2025 Declared Dividend • Jun 16
Dividend increased to CN¥0.50 Dividend of CN¥0.50 is 11% higher than last year. Ex-date: 18th June 2025 Payment date: 18th June 2025 Dividend yield will be 2.1%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 11% per year over the past 5 years and payments have been stable during that time. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 02
First quarter 2025 earnings released: EPS: CN¥0.31 (vs CN¥0.17 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.31 (up from CN¥0.17 in 1Q 2024). Revenue: CN¥1.13b (up 30% from 1Q 2024). Net income: CN¥126.4m (up 80% from 1Q 2024). Profit margin: 11% (up from 8.0% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 14% per year. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥24.20, the stock trades at a trailing P/E ratio of 21x. Average trailing P/E is 36x in the Electrical industry in China. Total returns to shareholders of 62% over the past three years. Announcement • Apr 29
China National Electric Apparatus Research Institute Co., Ltd., Annual General Meeting, May 28, 2025 China National Electric Apparatus Research Institute Co., Ltd., Annual General Meeting, May 28, 2025, at 14:30 China Standard Time. Buy Or Sell Opportunity • Apr 15
Now 21% overvalued Over the last 90 days, the stock has fallen 8.4% to CN¥19.96. The fair value is estimated to be CN¥16.47, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 13%. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥18.50, the stock trades at a trailing P/E ratio of 16.1x. Average trailing P/E is 40x in the Electrical industry in China. Total returns to shareholders of 12% over the past three years. Announcement • Mar 28
China National Electric Apparatus Research Institute Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 China National Electric Apparatus Research Institute Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Buy Or Sell Opportunity • Jan 14
Now 28% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to CN¥22.02. The fair value is estimated to be CN¥17.23, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 13%. Reported Earnings • Jan 11
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥1.15 (up from CN¥1.01 in FY 2023). Revenue: CN¥4.52b (up 8.4% from FY 2023). Net income: CN¥465.4m (up 14% from FY 2023). Profit margin: 10% (in line with FY 2023). Revenue missed analyst estimates by 5.7%. Earnings per share (EPS) also missed analyst estimates by 6.5%. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Dec 27
China National Electric Apparatus Research Institute Co., Ltd. to Report Fiscal Year 2024 Results on Apr 29, 2025 China National Electric Apparatus Research Institute Co., Ltd. announced that they will report fiscal year 2024 results on Apr 29, 2025 New Risk • Oct 29
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.30 (vs CN¥0.25 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.30 (up from CN¥0.25 in 3Q 2023). Revenue: CN¥1.09b (flat on 3Q 2023). Net income: CN¥124.7m (up 22% from 3Q 2023). Profit margin: 11% (up from 9.3% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Sep 30
China National Electric Apparatus Research Institute Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 China National Electric Apparatus Research Institute Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to CN¥20.18, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 17x in the Electrical industry in China. Total loss to shareholders of 27% over the past three years. Reported Earnings • Aug 27
Second quarter 2024 earnings released: EPS: CN¥0.32 (vs CN¥0.32 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.32 (up from CN¥0.32 in 2Q 2023). Revenue: CN¥1.18b (up 20% from 2Q 2023). Net income: CN¥126.5m (up 3.2% from 2Q 2023). Profit margin: 11% (down from 12% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. Announcement • Jun 29
China National Electric Apparatus Research Institute Co., Ltd. to Report First Half, 2024 Results on Aug 27, 2024 China National Electric Apparatus Research Institute Co., Ltd. announced that they will report first half, 2024 results on Aug 27, 2024 Reported Earnings • Apr 24
First quarter 2024 earnings released: EPS: CN¥0.17 (vs CN¥0.15 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.17 (up from CN¥0.15 in 1Q 2023). Revenue: CN¥874.8m (up 2.2% from 1Q 2023). Net income: CN¥70.2m (up 12% from 1Q 2023). Profit margin: 8.0% (up from 7.3% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 23% 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 increased by 12% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Apr 23
China National Electric Apparatus Research Institute Co., Ltd., Annual General Meeting, May 31, 2024 China National Electric Apparatus Research Institute Co., Ltd., Annual General Meeting, May 31, 2024, at 14:30 China Standard Time. Location: Building 1, No. 204, Xingang West Road, Haizhu District, Guangzhou, Guangdong China Announcement • Mar 30
China National Electric Apparatus Research Institute Co., Ltd. to Report Q1, 2024 Results on Apr 23, 2024 China National Electric Apparatus Research Institute Co., Ltd. announced that they will report Q1, 2024 results on Apr 23, 2024 Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥17.51, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Electrical industry in China. Total returns to shareholders of 21% over the past three years. Buy Or Sell Opportunity • Jan 29
Now 22% overvalued Over the last 90 days, the stock has fallen 5.9% to CN¥19.05. The fair value is estimated to be CN¥15.66, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 52% in 2 years. Earnings are forecast to grow by 53% in the next 2 years. Reported Earnings • Jan 27
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥1.01 (up from CN¥0.90 in FY 2022). Revenue: CN¥4.17b (up 9.9% from FY 2022). Net income: CN¥409.0m (up 13% from FY 2022). Profit margin: 9.8% (in line with FY 2022). Revenue missed analyst estimates by 7.9%. Earnings per share (EPS) also missed analyst estimates by 1.9%. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Electrical 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 only increased by 3% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥16.05, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 15x in the Electrical industry in China. Negligible returns to shareholders over past three years. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.25 (vs CN¥0.24 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.25 (up from CN¥0.24 in 3Q 2022). Revenue: CN¥1.10b (up 2.6% from 3Q 2022). Net income: CN¥102.3m (up 4.1% from 3Q 2022). Profit margin: 9.3% (up from 9.2% in 3Q 2022). Revenue is forecast to grow 18% 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 11% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. New Risk • Aug 25
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 31% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (309% cash payout ratio). Large one-off items impacting financial results. Reported Earnings • Aug 22
Second quarter 2023 earnings released: EPS: CN¥0.32 (vs CN¥0.29 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.32 (up from CN¥0.29 in 2Q 2022). Revenue: CN¥988.1m (up 8.9% from 2Q 2022). Net income: CN¥122.6m (up 4.2% from 2Q 2022). Profit margin: 12% (in line with 2Q 2022). Revenue is forecast to grow 18% 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 11% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Jun 28
China National Electric Apparatus Research Institute Co., Ltd. to Report First Half, 2023 Results on Aug 22, 2023 China National Electric Apparatus Research Institute Co., Ltd. announced that they will report first half, 2023 results on Aug 22, 2023 Valuation Update With 7 Day Price Move • May 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥29.35, the stock trades at a trailing P/E ratio of 31.5x. Average trailing P/E is 34x in the Electrical industry in China. Total returns to shareholders of 62% over the past three years. Reported Earnings • Apr 26
First quarter 2023 earnings released First quarter 2023 results: Revenue: CN¥855.9m (up 16% from 1Q 2022). Net income: CN¥62.4m (up 27% from 1Q 2022). Profit margin: 7.3% (up from 6.6% in 1Q 2022). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥23.70, the stock trades at a trailing P/E ratio of 26.8x. Average trailing P/E is 36x in the Electrical industry in China. Total returns to shareholders of 34% over the past three years. Buying Opportunity • Mar 10
Now 20% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be CN¥27.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 8.7%. Revenue is forecast to grow by 40% in 2 years. Earnings is forecast to grow by 84% in the next 2 years. Buying Opportunity • Feb 15
Now 20% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be CN¥27.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 8.7%. Revenue is forecast to grow by 40% in 2 years. Earnings is forecast to grow by 84% in the next 2 years. Reported Earnings • Feb 09
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥0.88 (up from CN¥0.78 in FY 2021). Revenue: CN¥3.80b (up 12% from FY 2021). Net income: CN¥357.3m (up 13% from FY 2021). Profit margin: 9.4% (up from 9.2% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.9%. Earnings per share (EPS) also missed analyst estimates by 11%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 28% 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 fallen by 2% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Director Yihua Liu 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 released: EPS: CN¥0.22 (vs CN¥0.20 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.22 (up from CN¥0.20 in 3Q 2021). Revenue: CN¥877.5m (up 3.3% from 3Q 2021). Net income: CN¥90.0m (up 8.7% from 3Q 2021). Profit margin: 10% (in line with 3Q 2021). Revenue is forecast to grow 17% 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 7% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥18.60, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 20x in the Electrical industry in China. Total loss to shareholders of 36% over the past year. Reported Earnings • Aug 24
Second quarter 2022 earnings released: EPS: CN¥0.29 (vs CN¥0.27 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.29 (up from CN¥0.27 in 2Q 2021). Revenue: CN¥907.5m (down 9.0% from 2Q 2021). Net income: CN¥117.6m (up 7.1% from 2Q 2021). Profit margin: 13% (up from 11% in 2Q 2021). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥24.95, the stock trades at a trailing P/E ratio of 31.8x. Average trailing P/E is 37x in the Electrical industry in China. Total returns to shareholders of 46% over the past year. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥20.98, the stock trades at a trailing P/E ratio of 26.7x. Average trailing P/E is 35x in the Electrical industry in China. Total returns to shareholders of 30% over the past year. Reported Earnings • Apr 27
First quarter 2022 earnings: EPS misses analyst expectations First quarter 2022 results: EPS: CN¥0.12 (vs CN¥0.12 in 1Q 2021). Revenue: CN¥739.8m (up 27% from 1Q 2021). Net income: CN¥49.1m (up 5.3% from 1Q 2021). Profit margin: 6.6% (down from 8.0% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.3%. Over the next year, revenue is forecast to grow 35%, compared to a 51% growth forecast for the industry in China. Reported Earnings • Feb 24
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: CN¥0.76 (up from CN¥0.70 in FY 2020). Revenue: CN¥3.41b (up 35% from FY 2020). Net income: CN¥306.9m (up 8.6% from FY 2020). Profit margin: 9.0% (down from 11% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Over the next year, revenue is forecast to grow 34%, compared to a 60% growth forecast for the industry in China. Buying Opportunity • Feb 24
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 35%. The fair value is estimated to be CN¥30.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.9% per annum over the last 3 years. Earnings per share has grown by 8.2% per annum over the last 3 years. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment deteriorated over the past week After last week's 19% share price decline to CN¥24.79, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 25x in the Electrical industry in China. Total returns to shareholders of 66% over the past year. Valuation Update With 7 Day Price Move • Nov 23
Investor sentiment improved over the past week After last week's 24% share price gain to CN¥34.75, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 32x in the Electrical industry in China. Total returns to shareholders of 84% over the past year. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment deteriorated over the past week After last week's 19% share price decline to CN¥27.41, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 27x in the Electrical industry in China. Total returns to shareholders of 36% over the past year. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥34.74, 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 71% over the past year. Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥46.40, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 31x in the Electrical industry in China. Total returns to shareholders of 117% over the past year. Reported Earnings • Aug 24
Second quarter 2021 earnings released: EPS CN¥0.27 (vs CN¥0.23 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: CN¥996.9m (up 50% from 2Q 2020). Net income: CN¥109.9m (up 26% from 2Q 2020). Profit margin: 11% (down from 13% in 2Q 2020). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improved over the past week After last week's 42% share price gain to CN¥36.90, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 29x in the Electrical industry in China. Total returns to shareholders of 59% over the past year. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improved over the past week After last week's 26% share price gain to CN¥28.87, the stock trades at a trailing P/E ratio of 39.8x. Average trailing P/E is 35x in the Electrical industry in China. Total returns to shareholders of 22% over the past year. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥22.30, the stock trades at a trailing P/E ratio of 30.7x. Average trailing P/E is 33x in the Electrical industry in China. Total returns to shareholders of 3.2% over the past year. Reported Earnings • Apr 28
First quarter 2021 earnings released: EPS CN¥0.12 (vs CN¥0.10 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: CN¥584.4m (up 39% from 1Q 2020). Net income: CN¥46.7m (up 11% from 1Q 2020). Profit margin: 8.0% (down from 10.0% in 1Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Mar 04
Full year 2020 earnings released: EPS CN¥0.69 (vs CN¥0.70 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CN¥2.52b (down 8.6% from FY 2019). Net income: CN¥281.0m (up 11% from FY 2019). Profit margin: 11% (up from 9.2% in FY 2019). The increase in margin was driven by lower expenses. Is New 90 Day High Low • Jan 29
New 90-day low: CN¥16.26 The company is down 14% from its price of CN¥18.99 on 30 October 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 24% over the same period. Is New 90 Day High Low • Jan 11
New 90-day low: CN¥16.61 The company is down 23% from its price of CN¥21.56 on 13 October 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 26% over the same period. Is New 90 Day High Low • Dec 24
New 90-day low: CN¥17.20 The company is down 17% from its price of CN¥20.76 on 25 September 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 27% over the same period. Is New 90 Day High Low • Dec 09
New 90-day low: CN¥18.22 The company is down 9.0% from its price of CN¥20.01 on 10 September 2020. The Chinese market is up 5.0% 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. Is New 90 Day High Low • Nov 17
New 90-day low: CN¥18.61 The company is down 15% from its price of CN¥21.84 on 19 August 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 8.0% over the same period. Is New 90 Day High Low • Oct 24
New 90-day low: CN¥19.89 The company is down 7.0% from its price of CN¥21.31 on 24 July 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 9.0% over the same period. Announcement • Jul 09
China National Electric Apparatus Research Institute Co., Ltd. to Report First Half, 2020 Results on Aug 25, 2020 China National Electric Apparatus Research Institute Co., Ltd. announced that they will report first half, 2020 results on Aug 25, 2020