Valuation Update With 7 Day Price Move • May 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥11.02, the stock trades at a trailing P/E ratio of 34.2x. Average forward P/E is 28x in the Machinery industry in China. Total returns to shareholders of 28% over the past three years. Reported Earnings • Apr 29
Full year 2025 earnings released: EPS: CN¥0.25 (vs CN¥0.14 in FY 2024) Full year 2025 results: EPS: CN¥0.25 (up from CN¥0.14 in FY 2024). Revenue: CN¥3.32b (up 15% from FY 2024). Net income: CN¥129.0m (up 73% from FY 2024). Profit margin: 3.9% (up from 2.6% in FY 2024). Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Apr 29
Weihai Guangtai Airport Equipment Co.,Ltd, Annual General Meeting, May 21, 2026 Weihai Guangtai Airport Equipment Co.,Ltd, Annual General Meeting, May 21, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Weihai, Shandong China Announcement • Mar 31
Weihai Guangtai Airport Equipment Co.,Ltd to Report Q1, 2026 Results on Apr 28, 2026 Weihai Guangtai Airport Equipment Co.,Ltd announced that they will report Q1, 2026 results on Apr 28, 2026 Announcement • Dec 31
Weihai Guangtai Airport Equipment Co.,Ltd to Report Fiscal Year 2025 Results on Apr 28, 2026 Weihai Guangtai Airport Equipment Co.,Ltd announced that they will report fiscal year 2025 results on Apr 28, 2026 Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: CN¥0.086 (vs CN¥0.041 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.086 (up from CN¥0.041 in 3Q 2024). Revenue: CN¥872.2m (up 11% from 3Q 2024). Net income: CN¥43.4m (up 102% from 3Q 2024). Profit margin: 5.0% (up from 2.7% in 3Q 2024). Revenue is forecast to grow 27% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Upcoming Dividend • Oct 06
Upcoming dividend of CN¥0.08 per share Eligible shareholders must have bought the stock before 13 October 2025. Payment date: 13 October 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.0%. Within top quartile of Chinese dividend payers (1.9%). Higher than average of industry peers (1.3%). Announcement • Sep 30
Weihai Guangtai Airport Equipment Co.,Ltd to Report Q3, 2025 Results on Oct 31, 2025 Weihai Guangtai Airport Equipment Co.,Ltd announced that they will report Q3, 2025 results on Oct 31, 2025 Reported Earnings • Aug 06
Second quarter 2025 earnings released: EPS: CN¥0.08 (vs CN¥0.12 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.08 (down from CN¥0.12 in 2Q 2024). Revenue: CN¥784.9m (up 9.5% from 2Q 2024). Net income: CN¥41.4m (down 29% from 2Q 2024). Profit margin: 5.3% (down from 8.1% in 2Q 2024). Revenue is forecast to grow 26% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Machinery 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 only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Jul 02
Weihai Guangtai Airport Equipment Co.,Ltd to Report First Half, 2025 Results on Aug 28, 2025 Weihai Guangtai Airport Equipment Co.,Ltd announced that they will report first half, 2025 results on Aug 28, 2025 Announcement • May 17
Weihai Guangtai Airport Equipment Co.,Ltd Approves Cash Dividend for 2024 Weihai Guangtai Airport Equipment Co.,Ltd at the Annual General Meeting of 2024 on 13 May 2025 approved 2024 profit distribution plan: cash dividend per 10 shares (tax included) of CNY 1.00000000. New Risk • Apr 28
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 107% The company is paying a dividend despite having no free cash flows. Dividend yield: 2.1% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 107% Paying a dividend despite having no free cash flows. Earnings have declined by 23% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.6% net profit margin). Announcement • Apr 24
Weihai Guangtai Airport Equipment Co.,Ltd (SZSE:002111) announces an Equity Buyback for CNY 60 million worth of its shares. Weihai Guangtai Airport Equipment Co.,Ltd (SZSE:002111) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 60 million worth of its A shares. The shares will be repurchased at a price not more than CNY 15 per share. The program will be funded using the company's own funds and bank loans. The repurchased shares will be used for equity incentives or ESOP. The repurchase program will be valid for a period of 12 months. Announcement • Apr 23
Weihai Guangtai Airport Equipment Co.,Ltd Proposes Final Cash Dividend for the Year 2024 Weihai Guangtai Airport Equipment Co.,Ltd proposed final cash dividend/10 shares (tax included) of CNY 1.00000000 for the year 2024. Reported Earnings • Apr 22
Full year 2024 earnings released: EPS: CN¥0.14 (vs CN¥0.24 in FY 2023) Full year 2024 results: EPS: CN¥0.14 (down from CN¥0.24 in FY 2023). Revenue: CN¥2.89b (up 20% from FY 2023). Net income: CN¥74.6m (down 41% from FY 2023). Profit margin: 2.6% (down from 5.2% in FY 2023). Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Apr 22
Weihai Guangtai Airport Equipment Co.,Ltd, Annual General Meeting, May 13, 2025 Weihai Guangtai Airport Equipment Co.,Ltd, Annual General Meeting, May 13, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Weihai, Shandong China New Risk • Apr 10
New major risk - Revenue and earnings growth Earnings have declined by 21% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 have declined by 21% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (6.5% net profit margin). Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥9.41, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 19x in the Machinery industry in China. Total returns to shareholders of 12% over the past three years. Announcement • Mar 31
Weihai Guangtai Airport Equipment Co.,Ltd to Report Q1, 2025 Results on Apr 29, 2025 Weihai Guangtai Airport Equipment Co.,Ltd announced that they will report Q1, 2025 results on Apr 29, 2025 Announcement • Dec 31
Weihai Guangtai Airport Equipment Co.,Ltd to Report Fiscal Year 2024 Results on Apr 22, 2025 Weihai Guangtai Airport Equipment Co.,Ltd announced that they will report fiscal year 2024 results on Apr 22, 2025 Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.041 (vs CN¥0.02 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.041 (up from CN¥0.02 in 3Q 2023). Revenue: CN¥789.3m (up 46% from 3Q 2023). Net income: CN¥21.5m (up 112% from 3Q 2023). Profit margin: 2.7% (up from 1.9% in 3Q 2023). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 23
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥12.69, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 17x in the Machinery industry in China. Total returns to shareholders of 4.9% over the past three years. Announcement • Sep 30
Weihai Guangtai Airport Equipment Co.,Ltd to Report Q3, 2024 Results on Oct 29, 2024 Weihai Guangtai Airport Equipment 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 19% After last week's 19% share price gain to CN¥10.86, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the Machinery industry in China. Total loss to shareholders of 17% over the past three years. Announcement • Sep 20
Weihai Guangtai Airport Equipment Co.,Ltd Announces Interim Cash Dividend on A Shares for the Year 2024, Payable on 25 September 2024 Weihai Guangtai Airport Equipment Co.,Ltd announced interim cash dividend of CNY 0.50 per 10 shares on A shares (tax included) for the year 2024. Record date: 24 September 2024, Ex-date: 25 September 2024 and Payment date: 25 September 2024. New Risk • Sep 13
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 177% The company is paying a dividend despite having no free cash flows. Dividend yield: 11% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: CN¥0.12 (vs CN¥0.05 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.12 (up from CN¥0.05 in 2Q 2023). Revenue: CN¥716.6m (up 20% from 2Q 2023). Net income: CN¥58.0m (up 112% from 2Q 2023). Profit margin: 8.1% (up from 4.6% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 13% per year. Announcement • Aug 31
Weihai Guangtai Airport Equipment Co.,Ltd Announces Interim Dividend Distribution Proposal for the First Half of 2024 Weihai Guangtai Airport Equipment Co.,Ltd announced the profit distribution proposal (interim dividend) (tax included) of CNY 0.5 per ten shares for the first half of 2024. Declared Dividend • Jul 08
Dividend reduced to CN¥0.10 Dividend of CN¥0.10 is 44% lower than last year. Ex-date: 12th July 2024 Payment date: 12th July 2024 Dividend yield will be 1.0%, which is lower than the industry average of 2.0%. Sustainability & Growth Dividend is covered by earnings (37% 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 5.8% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 59% to shift the payout ratio to a potentially unsustainable range, which is more than the 9.6% EPS decline seen over the last 5 years. Announcement • Jun 29
Weihai Guangtai Airport Equipment Co.,Ltd to Report First Half, 2024 Results on Aug 30, 2024 Weihai Guangtai Airport Equipment Co.,Ltd announced that they will report first half, 2024 results on Aug 30, 2024 New Risk • May 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 19% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.4% average weekly change). Profit margins are more than 30% lower than last year (5.8% net profit margin). Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥11.65, the stock trades at a trailing P/E ratio of 48.8x. Average trailing P/E is 29x in the Machinery industry in China. Total loss to shareholders of 8.9% over the past three years. Reported Earnings • Apr 24
Full year 2023 earnings released: EPS: CN¥0.24 (vs CN¥0.45 in FY 2022) Full year 2023 results: EPS: CN¥0.24 (down from CN¥0.45 in FY 2022). Revenue: CN¥2.40b (up 2.5% from FY 2022). Net income: CN¥125.7m (down 48% from FY 2022). Profit margin: 5.2% (down from 10% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Apr 23
Weihai Guangtai Airport Equipment Co.,Ltd, Annual General Meeting, May 17, 2024 Weihai Guangtai Airport Equipment Co.,Ltd, Annual General Meeting, May 17, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Weihai, Shandong China Announcement • Mar 30
Weihai Guangtai Airport Equipment Co.,Ltd to Report Q1, 2024 Results on Apr 30, 2024 Weihai Guangtai Airport Equipment Co.,Ltd announced that they will report Q1, 2024 results on Apr 30, 2024 Reported Earnings • Mar 22
Full year 2023 earnings released: EPS: CN¥0.25 (vs CN¥0.45 in FY 2022) Full year 2023 results: EPS: CN¥0.25 (down from CN¥0.45 in FY 2022). Revenue: CN¥2.40b (up 2.4% from FY 2022). Net income: CN¥128.8m (down 46% from FY 2022). Profit margin: 5.4% (down from 10% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥9.38, the stock trades at a trailing P/E ratio of 22.2x. Average trailing P/E is 30x in the Machinery industry in China. Total loss to shareholders of 23% over the past three years. Announcement • Feb 08
Weihai Guangtai Airport Equipment Co.,Ltd (SZSE:002111) announces an Equity Buyback for CNY 150 million worth of its shares. Weihai Guangtai Airport Equipment Co.,Ltd (SZSE:002111) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 150 million worth of its Class A shares. The shares will be repurchased at a price not more than CNY 11 per share. The program will be funded using the company's own funds. The repurchased shares will be used to protect the company’s value and shareholders’ rights.. The repurchase program will be valid for a period of 3 months. As of February 5, 2024, the company had 534,323,305 shares outstanding. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥6.69, the stock trades at a trailing P/E ratio of 15.8x. Average trailing P/E is 26x in the Machinery industry in China. Total loss to shareholders of 33% over the past three years. Announcement • Dec 29
Weihai Guangtai Airport Equipment Co.,Ltd to Report Fiscal Year 2023 Results on Apr 23, 2024 Weihai Guangtai Airport Equipment Co.,Ltd announced that they will report fiscal year 2023 results on Apr 23, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.02 (vs CN¥0.013 loss in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.02 (up from CN¥0.013 loss in 3Q 2022). Revenue: CN¥539.6m (up 7.2% from 3Q 2022). Net income: CN¥10.1m (up CN¥16.8m from 3Q 2022). Profit margin: 1.9% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
Weihai Guangtai Airport Equipment Co.,Ltd to Report Q3, 2023 Results on Oct 31, 2023 Weihai Guangtai Airport Equipment Co.,Ltd announced that they will report Q3, 2023 results on Oct 31, 2023 Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: CN¥0.05 (vs CN¥0.053 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.05 (down from CN¥0.053 in 2Q 2022). Revenue: CN¥595.3m (up 9.7% from 2Q 2022). Net income: CN¥27.4m (down 6.5% from 2Q 2022). Profit margin: 4.6% (down from 5.4% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Machinery 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. Announcement • Jul 06
Weihai Guangtai Airport Equipment Co.,Ltd Announces Final Profit Distribution Plan to Be Implemented on A Shares for the Year 2022, Payable on 12 July 2023 Weihai Guangtai Airport Equipment Co.,Ltd announced final profit distribution plan to be implemented on A shares as cash dividend per ten shares (tax included) of CNY 1.80000000 for the year 2022, payable on 12 July 2023. Record date is 11 July 2023. Ex-date is 12 July 2023. Announcement • May 19
Weihai Guangtai Airport Equipment Co.,Ltd Approves Cash Dividend for the Year 2022 Weihai Guangtai Airport Equipment Co.,Ltd approved cash dividend of CNY 1.80000000 per ten shares (tax included) for the year 2022, at its AGM held on May 15, 2023. Reported Earnings • Apr 13
Full year 2022 earnings released: EPS: CN¥0.45 (vs CN¥0.09 in FY 2021) Full year 2022 results: EPS: CN¥0.45 (up from CN¥0.09 in FY 2021). Revenue: CN¥2.35b (down 24% from FY 2021). Net income: CN¥240.1m (up 369% from FY 2021). Profit margin: 10% (up from 1.7% in FY 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Machinery industry in China. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Oct 30
Third quarter 2022 earnings released: CN¥0.013 loss per share (vs CN¥0.19 profit in 3Q 2021) Third quarter 2022 results: CN¥0.013 loss per share (down from CN¥0.19 profit in 3Q 2021). Revenue: CN¥503.4m (down 40% from 3Q 2021). Net loss: CN¥6.65m (down 107% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 24
Second quarter 2022 earnings released: EPS: CN¥0.053 (vs CN¥0.25 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.053 (down from CN¥0.25 in 2Q 2021). Revenue: CN¥542.6m (down 34% from 2Q 2021). Net income: CN¥29.3m (down 78% from 2Q 2021). Profit margin: 5.4% (down from 16% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Jul 21
Tianjin Dongchen Enterprise Management Consulting Partnership Enterprise (Limited Partnership) acquired 44% stake in Guangtai Airport International Financial Leasing Co., Ltd from Guangtai Airport Equipment Hong Kong Co., Ltd. and Weihai Guangtai Airport Equipment Co.,Ltd (SZSE:002111) for CNY 97.8 million. Tianjin Dongchen Enterprise Management Consulting Partnership Enterprise (Limited Partnership) signed an agreement to acquire a 44% stake in Guangtai Airport International Financial Leasing Co., Ltd from Guangtai Airport Equipment Hong Kong Co., Ltd. and Weihai Guangtai Airport Equipment Co.,Ltd (SZSE:002111) for CNY 97.8 million on May 23, 2022. Tianjin Dongchen will acquire 13.33% stake from Guangtai Airport and 30.67% stake from Weihai Guangtai. Board of directors of Weihai Guangtai Airport Equipment Co., Ltd have approved the transaction. The transaction is subject to shareholders meeting. Guangtai Airport has a total assets of CNY 262 million and net assets of CNY 213 million as of March 31, 2022.
Tianjin Dongchen Enterprise Management Consulting Partnership Enterprise (Limited Partnership) completed the acquisition of 44% stake in Guangtai Airport International Financial Leasing Co., Ltd from Guangtai Airport Equipment Hong Kong Co., Ltd. and Weihai Guangtai Airport Equipment Co.,Ltd (SZSE:002111) on July 20, 2022 Announcement • Jul 05
Weihai Guangtai Airport Equipment Co.,Ltd Announces 2021 Final Profit Distribution Plan to Be Implemented (A Shares), Payment Date Is 08 July 2022 Weihai Guangtai Airport Equipment Co.,Ltd announced 2021 final profit distribution plan to be implemented (A shares): Cash dividend/10 shares (tax included) of CNY 3.00000000. Record date is 07 July 2022. Ex-date is 08 July 2022. Payment date is 08 July 2022. Announcement • May 26
Weihai Guangtai Airport Equipment Co.,Ltd (SZSE:002111) agreed to acquire Shandong Guanggda Aviation Ground Service Co.,Ltd from a group of investors. Weihai Guangtai Airport Equipment Co.,Ltd (SZSE:002111) agreed to acquire Shandong Guanggda Aviation Ground Service Co.,Ltd from a group of investors on May 23, 2022. The sellers in the transacitons are Li Wenxuan, Weihai Guangda Qizheng Enterprise Management Center (Limited Partnership), Li Bo, Zhang Dongliang, Liu Xiaojun, Zhou Fang, Zhai Kunlei, Liu Lan, Liu Yajuan, Liu Shuzhong, Wang Peige, Deng Xiaoman, Yu Yuezeng, Liang Lianqing, Wang Zhaogang and Zeng Xu. The transaction is subject to approval by shareholers of Weihai Guangtai Airport Equipment Co.,Ltd. As of May 23, 2022, the board of directors of Weihai Guangtai Airport Equipment Co.,Ltd approved the transaction. Announcement • May 25
Weihai Guangtai Airport Equipment Co.,Ltd announced a financing transaction Weihai Guangtai Airport Equipment Co.,Ltd announced a private placement of convertible bonds on May 23, 2022. Announcement • May 19
Weihai Guangtai Airport Equipment Co.,Ltd Approves Cash Dividend for the Year 2021 Weihai Guangtai Airport Equipment Co.,Ltd approved cash dividend (Tax included) is CNY 3.00000 per 10 shares for the year 2021, at the AGM held on May 17, 2022. Announcement • Apr 28
Weihai Guangtai Airport Equipment Co.,Ltd (SZSE:002111) announces an Equity Buyback for CNY 80 million worth of its shares. Weihai Guangtai Airport Equipment Co.,Ltd (SZSE:002111) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 80 million worth of its Class A shares. The shares will be repurchased at a price not more than CNY 12.8 per share. The program will be funded using the company's own funds. The repurchased shares will be used for the company's implementation of the equity incentive plan or employee stock ownership plan. The repurchase program will be valid for a period of 12 months. Announcement • Apr 27
Weihai Guangtai Airport Equipment Co.,Ltd Proposes Profit Distribution for 2021 Weihai Guangtai Airport Equipment Co.,Ltd announced profit distribution proposal for 2021 as final Cash dividend/10 shares (tax included): CNY 3.00000000. Reported Earnings • Apr 27
First quarter 2022 earnings released: EPS: CN¥0.12 (vs CN¥0.14 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.12 (down from CN¥0.14 in 1Q 2021). Revenue: CN¥525.8m (down 13% from 1Q 2021). Net income: CN¥61.8m (down 18% from 1Q 2021). Profit margin: 12% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 6% per year. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥10.03, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 33x in the Machinery industry in China. Total returns to shareholders of 12% over the past three years. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.19 (vs CN¥0.21 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥834.5m (up 19% from 3Q 2020). Net income: CN¥98.3m (down 11% from 3Q 2020). Profit margin: 12% (down from 16% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.19 (vs CN¥0.21 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥834.5m (up 19% from 3Q 2020). Net income: CN¥98.3m (down 11% from 3Q 2020). Profit margin: 12% (down from 16% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Board Change • Sep 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. Deputy GM & Non-Independent Director Li Qin was the last 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: Insufficient board refreshment. Reported Earnings • Aug 24
Second quarter 2021 earnings released: EPS CN¥0.57 (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¥826.6m (up 33% from 2Q 2020). Net income: CN¥133.2m (up 77% from 2Q 2020). Profit margin: 16% (up from 12% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 32% per year whereas the company’s share price has increased by 28% per year. Announcement • May 16
Weihai Guangtai Airport Equipment Co.,Ltd Approves Cash Dividend for the Year 2020 Weihai Guangtai Airport Equipment Co.,Ltd at its annual general meeting held on May 13, 2021, approved cash dividend/10 shares (tax included) of CNY 4.00000000 for the year 2020. Reported Earnings • Apr 20
Full year 2020 earnings released: EPS CN¥1.01 (vs CN¥0.88 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¥2.96b (up 16% from FY 2019). Net income: CN¥382.9m (up 15% from FY 2019). Profit margin: 13% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • Mar 08
Weihai Guangtai Airport Equipment Co.,Ltd to Report Fiscal Year 2020 Results on Apr 20, 2021 Weihai Guangtai Airport Equipment Co.,Ltd announced that they will report fiscal year 2020 results on Apr 20, 2021 Is New 90 Day High Low • Mar 05
New 90-day high: CN¥17.46 The company is up 6.0% from its price of CN¥16.49 on 04 December 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 2.0% over the same period. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥17.45, the stock is trading at a trailing P/E ratio of 21.8x, up from the previous P/E ratio of 18.5x. This compares to an average P/E of 37x in the Machinery industry in China. Total returns to shareholders over the past three years are 27%. Is New 90 Day High Low • Jan 05
New 90-day high: CN¥17.45 The company is up 11% from its price of CN¥15.72 on 30 September 2020. The Chinese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 10.0% over the same period. Is New 90 Day High Low • Dec 16
New 90-day low: CN¥15.08 The company is down 2.0% from its price of CN¥15.46 on 17 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 Machinery industry, which is up 4.0% over the same period. Is New 90 Day High Low • Nov 23
New 90-day high: CN¥17.12 The company is up 4.0% from its price of CN¥16.54 on 25 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 Machinery industry, which is up 3.0% over the same period. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥301.4m, down 7.6% from the prior year. Total revenue was CN¥2.59b over the last 12 months, up 8.3% from the prior year. Analyst Estimate Surprise Post Earnings • Oct 29
Third-quarter earnings released: Revenue misses expectations Third-quarter revenue missed analyst estimates by 23% at CN¥701.7m. Revenue is forecast to grow 32% over the next year, compared to a 52% growth forecast for the Machinery industry in China. Announcement • Aug 07
Weihai Guangtai Airport Equipment Co.,Ltd to Report First Half, 2020 Results on Aug 26, 2020 Weihai Guangtai Airport Equipment Co.,Ltd announced that they will report first half, 2020 results on Aug 26, 2020 
