Buy Or Sell Opportunity • Jul 15
Now 23% overvalued Over the last 90 days, the stock has fallen 25% to CN¥4.84. The fair value is estimated to be CN¥3.93, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 15%. Revenue is forecast to grow by 6.7% in 2 years. Earnings are forecast to grow by 35% in the next 2 years. Announcement • Jun 30
Vatti Corporation Limited to Report First Half, 2026 Results on Aug 27, 2026 Vatti Corporation Limited announced that they will report first half, 2026 results on Aug 27, 2026 Buy Or Sell Opportunity • Jun 29
Now 22% overvalued Over the last 90 days, the stock has fallen 32% to CN¥4.55. The fair value is estimated to be CN¥3.74, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 15%. Revenue is forecast to grow by 6.7% in 2 years. Earnings are forecast to grow by 35% in the next 2 years. Declared Dividend • Jun 15
Dividend of CN¥0.10 announced Shareholders will receive a dividend of CN¥0.10. Ex-date: 18th June 2026 Payment date: 18th June 2026 Dividend yield will be 4.0%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by earnings (56% 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 1.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Apr 29
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 37% 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 (37% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Apr 28
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.36 (down from CN¥0.58 in FY 2024). Revenue: CN¥5.65b (down 11% from FY 2024). Net income: CN¥301.0m (down 38% from FY 2024). Profit margin: 5.3% (down from 7.6% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.9%. Earnings per share (EPS) also missed analyst estimates by 31%. Revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Consumer Durables industry in China. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Apr 28
Vatti Corporation Limited, Annual General Meeting, May 19, 2026 Vatti Corporation Limited, Annual General Meeting, May 19, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Zhongshan, Guangdong China Announcement • Mar 31
Vatti Corporation Limited to Report Q1, 2026 Results on Apr 28, 2026 Vatti Corporation Limited announced that they will report Q1, 2026 results on Apr 28, 2026 Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥6.86, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 15x in the Consumer Durables industry in China. Total returns to shareholders of 10% over the past three years. Announcement • Dec 31
Vatti Corporation Limited to Report Fiscal Year 2025 Results on Apr 28, 2026 Vatti Corporation Limited announced that they will report fiscal year 2025 results on Apr 28, 2026 Reported Earnings • Oct 28
Third quarter 2025 earnings released: EPS: CN¥0.10 (vs CN¥0.13 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.10 (down from CN¥0.13 in 3Q 2024). Revenue: CN¥1.36b (down 7.9% from 3Q 2024). Net income: CN¥83.7m (down 20% from 3Q 2024). Profit margin: 6.2% (down from 7.1% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Consumer Durables 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 3% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Oct 20
Now 21% overvalued Over the last 90 days, the stock has fallen 3.5% to CN¥6.30. The fair value is estimated to be CN¥5.21, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.3% over the last 3 years. Earnings per share has grown by 40%. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to grow by 18% in the next 2 years. Announcement • Sep 30
Vatti Corporation Limited to Report Q3, 2025 Results on Oct 28, 2025 Vatti Corporation Limited announced that they will report Q3, 2025 results on Oct 28, 2025 Price Target Changed • Sep 04
Price target decreased by 14% to CN¥7.66 Down from CN¥8.92, the current price target is an average from 3 analysts. New target price is 21% above last closing price of CN¥6.33. Stock is up 1.3% over the past year. The company is forecast to post earnings per share of CN¥0.59 for next year compared to CN¥0.58 last year. Announcement • Jul 02
Vatti Corporation Limited to Report First Half, 2025 Results on Aug 30, 2025 Vatti Corporation Limited announced that they will report first half, 2025 results on Aug 30, 2025 Declared Dividend • Jun 23
Dividend of CN¥0.30 announced Dividend of CN¥0.30 is the same as last year. Ex-date: 26th June 2025 Payment date: 26th June 2025 Dividend yield will be 4.7%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (85% cash payout ratio). The dividend has increased by an average of 6.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 36% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • May 05
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥7.02b to CN¥6.66b. EPS estimate also fell from CN¥0.763 per share to CN¥0.613 per share. Net income forecast to grow 17% next year vs 18% growth forecast for Consumer Durables industry in China. Consensus price target of CN¥9.72 unchanged from last update. Share price fell 3.4% to CN¥6.47 over the past week. New Risk • May 02
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% 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 (22% accrual ratio). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Apr 29
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.58 (up from CN¥0.53 in FY 2023). Revenue: CN¥6.37b (up 2.2% from FY 2023). Net income: CN¥484.7m (up 8.4% from FY 2023). Profit margin: 7.6% (up from 7.2% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Consumer Durables industry in China. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Apr 29
Vatti Corporation Limited, Annual General Meeting, May 20, 2025 Vatti Corporation Limited, Annual General Meeting, May 20, 2025, at 14:30 China Standard Time. Announcement • Mar 31
Vatti Corporation Limited to Report Q1, 2025 Results on Apr 29, 2025 Vatti Corporation Limited announced that they will report Q1, 2025 results on Apr 29, 2025 Announcement • Dec 31
Vatti Corporation Limited to Report Fiscal Year 2024 Results on Apr 29, 2025 Vatti Corporation Limited announced that they will report fiscal year 2024 results on Apr 29, 2025 Reported Earnings • Oct 31
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: CN¥0.13 (up from CN¥0.12 in 3Q 2023). Revenue: CN¥1.47b (down 4.9% from 3Q 2023). Net income: CN¥104.2m (up 5.7% from 3Q 2023). Profit margin: 7.1% (up from 6.4% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 4.9%. Earnings per share (EPS) also missed analyst estimates by 7.7%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Consumer Durables industry in China. 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 11% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Vatti Corporation Limited to Report Q3, 2024 Results on Oct 31, 2024 Vatti Corporation Limited announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥7.99, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Consumer Durables industry in China. Total returns to shareholders of 28% over the past three years. Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥6.61, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Consumer Durables industry in China. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥5.22 per share. Announcement • Jun 29
Vatti Corporation Limited to Report First Half, 2024 Results on Aug 30, 2024 Vatti Corporation Limited announced that they will report first half, 2024 results on Aug 30, 2024 Declared Dividend • Jun 22
Dividend increased to CN¥0.30 Dividend of CN¥0.30 is 200% higher than last year. Ex-date: 26th June 2024 Payment date: 26th June 2024 Dividend yield will be 4.3%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 63% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • May 30
Price target increased by 20% to CN¥9.22 Up from CN¥7.72, the current price target is an average from 3 analysts. New target price is 15% above last closing price of CN¥8.05. Stock is up 23% over the past year. The company is forecast to post earnings per share of CN¥0.74 for next year compared to CN¥0.53 last year. Major Estimate Revision • May 02
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from CN¥6.72b to CN¥6.94b. EPS estimate increased from CN¥0.653 to CN¥0.735 per share. Net income forecast to grow 31% next year vs 22% growth forecast for Consumer Durables industry in China. Consensus price target up from CN¥7.30 to CN¥7.72. Share price rose 14% to CN¥7.27 over the past week. Announcement • Apr 28
Vatti Corporation Limited, Annual General Meeting, May 16, 2024 Vatti Corporation Limited, Annual General Meeting, May 16, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Zhongshan, Guangdong China Agenda: To consider the 2023 annual report and its summary; to consider the 2023 work report of the board of directors; to consider the 2023 work report of the supervisory committee; to consider the 2023 annual accounts report; to consider the 2024 financial budget report; to consider the 2023 profit distribution plan; to consider the adjustment of the quota of idle proprietary funds for entrusted wealth management; to consider the 2024 remuneration plan for directors; and to consider the 2024 remuneration plan for supervisors. Announcement • Apr 27
Vatti Corporation Limited Proposes Final Cash Dividend for the Year 2023 Vatti Corporation Limited proposed final cash dividend/10 shares (tax included) is CNY 3.0000000 for the year 2023. Reported Earnings • Apr 26
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: CN¥0.15 (up from CN¥0.11 in 1Q 2023). Revenue: CN¥1.38b (up 16% from 1Q 2023). Net income: CN¥124.1m (up 35% from 1Q 2023). Profit margin: 9.0% (up from 7.7% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 8.6%. Earnings per share (EPS) also surpassed analyst estimates by 27%. Revenue is forecast to grow 6.8% p.a. on average during the next 2 years, compared to a 9.6% growth forecast for the Consumer Durables 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 only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Mar 30
Vatti Corporation Limited to Report Q1, 2024 Results on Apr 26, 2024 Vatti Corporation Limited announced that they will report Q1, 2024 results on Apr 26, 2024 Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥4.95, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 12x in the Consumer Durables industry in China. Total loss to shareholders of 31% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥3.37 per share. Announcement • Dec 29
Vatti Corporation Limited to Report Fiscal Year 2023 Results on Apr 26, 2024 Vatti Corporation Limited announced that they will report fiscal year 2023 results on Apr 26, 2024 Announcement • Dec 07
Vatti Corporation Limited (SZSE:002035) announces an Equity Buyback for CNY 200 million worth of its shares. Vatti Corporation Limited (SZSE:002035) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its shares. The plan will be valid for 12 months. Reported Earnings • Nov 02
Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2023 results: EPS: CN¥0.12 (up from CN¥0.046 in 3Q 2022). Revenue: CN¥1.55b (up 6.6% from 3Q 2022). Net income: CN¥98.6m (up 152% from 3Q 2022). Profit margin: 6.4% (up from 2.7% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 4.3%. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Consumer Durables 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 14% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 30
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: CN¥0.20 (up from CN¥0.19 in 2Q 2022). Revenue: CN¥1.68b (flat on 2Q 2022). Net income: CN¥168.9m (up 4.3% from 2Q 2022). Profit margin: 10.0% (in line with 2Q 2022). Revenue missed analyst estimates by 8.9%. Earnings per share (EPS) also missed analyst estimates by 50%. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Consumer Durables industry in China. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Announcement • May 23
Vatti Corporation Limited Approves Cash Dividend for the Year 2022 Vatti Corporation Limited approved cash dividend per ten shares (tax included) of CNY 1.00000000 for the year 2022, at its Annual General Meeting of 2022 on 19 May 2023. Reported Earnings • Apr 30
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: CN¥0.11 (up from CN¥0.094 in 1Q 2022). Revenue: CN¥1.19b (up 6.2% from 1Q 2022). Net income: CN¥92.2m (up 16% from 1Q 2022). Profit margin: 7.7% (up from 7.1% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.7%. Earnings per share (EPS) also surpassed analyst estimates by 8.7%. Revenue is forecast to grow 7.9% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Consumer Durables industry in China. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Mar 22
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2022 has been updated. 2022 EPS estimate fell from CN¥0.487 to CN¥0.435 per share. Revenue forecast steady at CN¥5.98b. Net income forecast to grow 124% next year vs 35% growth forecast for Consumer Durables industry in China. Consensus price target up from CN¥5.85 to CN¥6.85. Share price rose 12% to CN¥7.46 over the past week. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥7.45, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 16x in the Consumer Durables industry in China. Total loss to shareholders of 24% over the past three years. Price Target Changed • Mar 18
Price target increased by 17% to CN¥6.85 Up from CN¥5.85, the current price target is an average from 3 analysts. New target price is 6.1% below last closing price of CN¥7.30. Stock is up 35% over the past year. The company is forecast to post earnings per share of CN¥0.52 for next year compared to CN¥0.24 last year. Reported Earnings • Oct 30
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: EPS: CN¥0.046 (up from CN¥0.045 in 3Q 2021). Revenue: CN¥1.46b (up 12% from 3Q 2021). Net income: CN¥39.2m (up 2.4% from 3Q 2021). Profit margin: 2.7% (down from 2.9% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.2%. Earnings per share (EPS) missed analyst estimates by 38%. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Consumer Durables industry in China. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 31
Second quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Second quarter 2022 results: EPS: CN¥0.19 (vs CN¥0.19 in 2Q 2021). Revenue: CN¥1.68b (up 4.4% from 2Q 2021). Net income: CN¥161.9m (flat on 2Q 2021). Profit margin: 9.6% (in line with 2Q 2021). Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 11%, compared to a 14% growth forecast for the Consumer Durables industry in China. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Price Target Changed • Jun 27
Price target decreased to CN¥5.42 Down from CN¥5.91, the current price target is an average from 4 analysts. New target price is 7.4% below last closing price of CN¥5.85. Stock is down 20% over the past year. The company is forecast to post earnings per share of CN¥0.56 for next year compared to CN¥0.24 last year. Announcement • Jun 21
Vatti Corporation Limited(XSEC:002035) dropped from S&P Global BMI Index Vatti Corporation Limited(XSEC:002035) dropped from S&P Global BMI Index Announcement • Jun 18
Vatti Corporation Limited Implements Final Profit Distribution Plan for 2021, Payable on June 24, 2022 Vatti Corporation Limited announced 2021 final profit distribution plan to be implemented (A shares) as Cash dividend/10 shares (tax included) CNY 1.00000000. Record date is 23 June 2022, Ex-date is 24 June 2022, Payment date is 24 June 2022. Price Target Changed • Jun 02
Price target decreased to CN¥5.42 Down from CN¥5.91, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of CN¥5.66. Stock is down 23% over the past year. The company is forecast to post earnings per share of CN¥0.56 for next year compared to CN¥0.24 last year. Announcement • May 02
Vatti Corporation Limited Proposes Final Cash Dividend for the Year 2021 Vatti Corporation Limited proposed final cash dividend/10 shares (tax included) of CNY 1.00000000 for the year 2021. Price Target Changed • May 01
Price target decreased to CN¥5.86 Down from CN¥6.37, the current price target is an average from 4 analysts. New target price is 16% above last closing price of CN¥5.05. Stock is down 30% over the past year. The company is forecast to post earnings per share of CN¥0.59 for next year compared to CN¥0.24 last year. Reported Earnings • Apr 30
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: CN¥0.24 (down from CN¥0.47 in FY 2020). Revenue: CN¥5.59b (up 28% from FY 2020). Net income: CN¥207.3m (down 49% from FY 2020). Profit margin: 3.7% (down from 9.4% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%. Over the next year, revenue is forecast to grow 3.7%, compared to a 14% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has fallen by 27% per year whereas the company’s share price has fallen by 28% per year. Board Change • Apr 27
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. 7 experienced directors. 2 highly experienced directors. Non Independent Director Jianhui Yang was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Price Target Changed • Oct 29
Price target decreased to CN¥7.37 Down from CN¥7.92, the current price target is an average from 8 analysts. New target price is 25% above last closing price of CN¥5.90. Stock is down 34% over the past year. The company is forecast to post earnings per share of CN¥0.54 for next year compared to CN¥0.47 last year. Reported Earnings • Oct 27
Third quarter 2021 earnings released: EPS CN¥0.044 (vs CN¥0.12 in 3Q 2020) The company reported a poor third quarter result with weaker earnings and profit margins, although revenues were flat. Third quarter 2021 results: Revenue: CN¥1.31b (flat on 3Q 2020). Net income: CN¥38.3m (down 65% from 3Q 2020). Profit margin: 2.9% (down from 8.3% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Price Target Changed • Jul 30
Price target decreased to CN¥8.37 Down from CN¥9.15, the current price target is an average from 8 analysts. New target price is 21% above last closing price of CN¥6.92. Stock is down 33% over the past year. Reported Earnings • Jul 30
Second quarter 2021 earnings released: EPS CN¥0.19 (vs CN¥0.14 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¥1.61b (up 65% from 2Q 2020). Net income: CN¥161.9m (up 37% from 2Q 2020). Profit margin: 10% (down from 12% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 15% per year. Announcement • May 21
Vatti Corporation Limited Approves Cash Dividend for the Year 202 Vatti Corporation Limited approved cash dividend/10 shares (tax included) is CNY 1.50000000 for the year 2020. Reported Earnings • Apr 30
First quarter 2021 earnings released: EPS CN¥0.089 (vs CN¥0.053 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥1.05b (up 52% from 1Q 2020). Net income: CN¥77.4m (up 67% from 1Q 2020). Profit margin: 7.4% (up from 6.7% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 27% per year, which means it is performing significantly worse than earnings. Announcement • Apr 29
Vatti Corporation Limited Proposes Final Cash Dividend Proposal for 2020 Vatti Corporation Limited proposed final cash dividend/10 shares (tax included): CNY 1.50000000 for the year 2020. Price Target Changed • Apr 25
Price target decreased to CN¥9.15 Down from CN¥11.23, the current price target is an average from 8 analysts. New target price is 21% above last closing price of CN¥7.58. Stock is down 33% over the past year. Is New 90 Day High Low • Jan 28
New 90-day low: CN¥7.80 The company is down 13% from its price of CN¥8.94 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 Consumer Durables industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥3.28 per share. Is New 90 Day High Low • Jan 11
New 90-day low: CN¥8.10 The company is down 19% from its price of CN¥10.00 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 Consumer Durables industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥3.29 per share. Is New 90 Day High Low • Dec 24
New 90-day low: CN¥8.93 The company is down 10.0% from its price of CN¥9.88 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 Consumer Durables 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¥3.04 per share. Major Estimate Revision • Nov 03
Analysts lower EPS estimates to CN¥0.59 The 2020 consensus revenue estimate was lowered from CN¥4.99b to CN¥4.61b. Earning per share (EPS) estimate was also lowered from CN¥0.69 to CN¥0.59 for the same period. Net income is expected to grow by 35% next year compared to 32% growth forecast for the Consumer Durables industry in China. The consensus price target was lowered from CN¥13.25 to CN¥11.87. Share price is up 3.9% to CN¥9.29 over the past week. Price Target Changed • Oct 31
Price target lowered to CN¥11.87 Down from CN¥13.25, the current price target is an average from 9 analysts. The new target price is 33% above the current share price of CN¥8.94. As of last close, the stock is down 25% over the past year. Analyst Estimate Surprise Post Earnings • Oct 30
Third-quarter earnings released: Revenue and earnings miss expectations Third-quarter revenue missed analyst estimates by 10% at CN¥1.31b. Earnings per share (EPS) also missed analyst estimates by 31% at CN¥0.12. Revenue is forecast to grow 22% over the next year, compared to a 16% growth forecast for the Consumer Durables industry in China. Price Target Changed • Oct 28
Price target lowered to CN¥12.49 Down from CN¥13.61, the current price target is an average from 9 analysts. The new target price is 38% above the current share price of CN¥9.05. As of last close, the stock is down 16% over the past year. Reported Earnings • Oct 28
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥503.3m, down 33% from the prior year. Total revenue was CN¥4.45b over the last 12 months, down 22% from the prior year. Is New 90 Day High Low • Oct 22
New 90-day low: CN¥9.48 The company is down 9.0% from its price of CN¥10.40 on 24 July 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥2.67 per share. Announcement • Oct 20
Vatti Corporation Limited to Report Q3, 2020 Results on Oct 28, 2020 Vatti Corporation Limited announced that they will report Q3, 2020 results on Oct 28, 2020 Is New 90 Day High Low • Sep 25
New 90-day low: CN¥9.88 The company is down 3.0% from its price of CN¥10.21 on 24 June 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥2.57 per share. Announcement • Aug 14
Vatti Corporation Limited to Report First Half, 2020 Results on Aug 31, 2020 Vatti Corporation Limited announced that they will report first half, 2020 results on Aug 31, 2020