New Risk • May 12
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 34% 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 Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.9% net profit margin). New Risk • Apr 28
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.9% Last year net profit margin: 7.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Announcement • Apr 28
Yiwu Huading Nylon Co.,Ltd., Annual General Meeting, May 19, 2026 Yiwu Huading Nylon Co.,Ltd., Annual General Meeting, May 19, 2026, at 10:30 China Standard Time. Location: The Company's Meeting Room, Yiwu, Zhejiang China Reported Earnings • Apr 23
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.20 (down from CN¥0.44 in FY 2024). Revenue: CN¥4.73b (down 37% from FY 2024). Net income: CN¥223.5m (down 54% from FY 2024). Profit margin: 4.7% (down from 6.5% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 10%. Earnings per share (EPS) also missed analyst estimates by 4.8%. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 8% per year. Announcement • Mar 30
Yiwu Huading Nylon Co.,Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Yiwu Huading Nylon Co.,Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 New Risk • Jan 22
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 8.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 8.9% per year for the foreseeable future. High level of non-cash earnings (27% accrual ratio). Announcement • Dec 26
Yiwu Huading Nylon Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 23, 2026 Yiwu Huading Nylon Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 23, 2026 Announcement • Sep 30
Yiwu Huading Nylon Co.,Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Yiwu Huading Nylon Co.,Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Reported Earnings • Aug 20
Second quarter 2025 earnings released: EPS: CN¥0.051 (vs CN¥0.081 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.051 (down from CN¥0.081 in 2Q 2024). Revenue: CN¥1.25b (down 47% from 2Q 2024). Net income: CN¥58.3m (down 29% from 2Q 2024). Profit margin: 4.6% (up from 3.5% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Jun 30
Yiwu Huading Nylon Co.,Ltd. to Report First Half, 2025 Results on Aug 19, 2025 Yiwu Huading Nylon Co.,Ltd. announced that they will report first half, 2025 results on Aug 19, 2025 Announcement • Apr 15
Yiwu Huading Nylon Co.,Ltd., Annual General Meeting, May 13, 2025 Yiwu Huading Nylon Co.,Ltd., Annual General Meeting, May 13, 2025, at 09:30 China Standard Time. Location: The Company's Meeting Room, Yiwu, Zhejiang China Reported Earnings • Apr 11
Full year 2024 earnings released: EPS: CN¥0.44 (vs CN¥0.14 in FY 2023) Full year 2024 results: EPS: CN¥0.44 (up from CN¥0.14 in FY 2023). Revenue: CN¥7.52b (down 14% from FY 2023). Net income: CN¥488.7m (up 206% from FY 2023). Profit margin: 6.5% (up from 1.8% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Mar 28
Yiwu Huading Nylon Co.,Ltd. to Report Q1, 2025 Results on Apr 15, 2025 Yiwu Huading Nylon Co.,Ltd. announced that they will report Q1, 2025 results on Apr 15, 2025 Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥4.50, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 36x in the Chemicals industry in China. Total returns to shareholders of 8.2% over the past three years. Announcement • Dec 27
Yiwu Huading Nylon Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 10, 2025 Yiwu Huading Nylon Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 10, 2025 Announcement • Nov 12
Yiwu Huading Nylon Co.,Ltd. announced that it expects to receive CNY 707.5 million in funding from True Love Group Co., Ltd. Yiwu Huading Nylon Co.,Ltd. announced that it has entered and signed Share Subscription Agreement with returning investor True Love Group Co., Ltd. to issue 250,000,000 A shares at an issue price of CNY 2.83 per share for the gross proceeds of CNY 707,500,000 on November 11, 2024. The shares subscribed by the issuing object investor for this issuance to specific objects shall not be transferred within 36 months from the date of completion of this issuance of shares to specific objects. The shares obtained by the issuing object from the distribution of stock dividends by the company, capital reserve fund transfer, etc. shall also comply with the above-mentioned share lock-up arrangement. If the regulatory authorities related to this issuance of shares to specific objects have other provisions on the lock-up period of shares subscribed by the issuing object and the transfer of shares upon maturity, such provisions shall prevail. The transaction has been reviewed and approved at the 14th meeting of the sixth board of directors and is subject to shareholders' meeting, The Shanghai Stock Exchange and China Securities Regulatory Commission needs to agree to register this issuance of shares to specific objects. Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.14 (vs CN¥0.072 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.14 (up from CN¥0.072 in 3Q 2023). Revenue: CN¥1.55b (down 33% from 3Q 2023). Net income: CN¥161.5m (up 116% from 3Q 2023). Profit margin: 10% (up from 3.3% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Yiwu Huading Nylon Co.,Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Yiwu Huading Nylon 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 18% After last week's 18% share price gain to CN¥3.50, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 30x in the Chemicals industry in China. Total returns to shareholders of 3.9% over the past three years. Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: CN¥0.081 (vs CN¥0.072 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.081. Revenue: CN¥2.36b (down 5.4% from 2Q 2023). Net income: CN¥82.2m (down 3.3% from 2Q 2023). Profit margin: 3.5% (up from 3.4% in 2Q 2023). The increase in margin was driven by lower expenses. Announcement • Jul 05
Huakai Yibai Technology Co.,Ltd. (SZSE:300592) completed the acquisition of Shenzhen TOMTOP Technology Co., Ltd. from Yiwu Huading Nylon Co.,Ltd. (SHSE:601113) Huakai Yibai Technology Co.,Ltd. (SZSE:300592) signed a cooperation framework agreement to acquire Shenzhen TOMTOP Technology Co., Ltd. from Yiwu Huading Nylon Co.,Ltd. (SHSE:601113) for CNY 490 million on December 6, 2023. Huakai Yibai Technology Co.,Ltd. (SZSE:300592) signed an agreement to acquire Shenzhen TOMTOP Technology Co., Ltd. from Yiwu Huading Nylon Co.,Ltd. (SHSE:601113) on May 21, 2024. The transaction was approved by the Board of Directors of Yiwu Huading Nylon. As of June 29, 2024, the transaction is approved by shareholders of Yiwu Huading Nylon Co.,Ltd. Wang Xiaohong, Yang Yipn, Zhang Lei, Wu Jiaxu, Huang Jie, You Congjie and Zong Ren of Western Securities Co.,Ltd. acted as financial advisor and Zou Bang and Liang Jiamei of Hunan Qiyuan Law Firm acted as legal advisor to Huakai Yibai Technology Co.,Ltd. (SZSE:300592).
Huakai Yibai Technology Co.,Ltd. (SZSE:300592) completed the acquisition of Shenzhen TOMTOP Technology Co., Ltd. from Yiwu Huading Nylon Co.,Ltd. (SHSE:601113) on July 4, 2024. Transaction has been approved by Huakai Yibai Technology's board of director's. Announcement • Jun 28
Yiwu Huading Nylon Co.,Ltd. to Report First Half, 2024 Results on Aug 31, 2024 Yiwu Huading Nylon Co.,Ltd. announced that they will report first half, 2024 results on Aug 31, 2024 Reported Earnings • Apr 27
Full year 2023 earnings released: EPS: CN¥0.14 (vs CN¥0.38 in FY 2022) Full year 2023 results: EPS: CN¥0.14 (down from CN¥0.38 in FY 2022). Revenue: CN¥8.72b (up 33% from FY 2022). Net income: CN¥159.6m (down 63% from FY 2022). Profit margin: 1.8% (down from 6.5% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Apr 27
Yiwu Huading Nylon Co.,Ltd., Annual General Meeting, May 16, 2024 Yiwu Huading Nylon Co.,Ltd., Annual General Meeting, May 16, 2024, at 09:30 China Standard Time. Location: The Company's Meeting Room, Yiwu, Zhejiang China Announcement • Mar 30
Yiwu Huading Nylon Co.,Ltd. to Report Q1, 2024 Results on Apr 29, 2024 Yiwu Huading Nylon Co.,Ltd. announced that they will report Q1, 2024 results on Apr 29, 2024 Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CN¥2.83, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 26x in the Chemicals industry in China. Total loss to shareholders of 1.4% over the past three years. Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥4.20, the stock trades at a trailing P/E ratio of 20.9x. Average trailing P/E is 32x in the Chemicals industry in China. Total returns to shareholders of 29% over the past three years. Announcement • Dec 30
Yiwu Huading Nylon Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 30, 2024 Yiwu Huading Nylon Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 30, 2024 Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: CN¥0.072 (vs CN¥0.082 loss in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.072 (up from CN¥0.082 loss in 3Q 2022). Revenue: CN¥2.30b (up 17% from 3Q 2022). Net income: CN¥74.8m (up CN¥166.9m from 3Q 2022). Profit margin: 3.3% (up from net loss in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Yiwu Huading Nylon Co.,Ltd. to Report Q3, 2023 Results on Oct 31, 2023 Yiwu Huading Nylon Co.,Ltd. announced that they will report Q3, 2023 results on Oct 31, 2023 Announcement • Jun 28
Yiwu Huading Nylon Co.,Ltd. to Report First Half, 2023 Results on Aug 30, 2023 Yiwu Huading Nylon Co.,Ltd. announced that they will report first half, 2023 results on Aug 30, 2023 Reported Earnings • Apr 29
Full year 2022 earnings released: EPS: CN¥0.38 (vs CN¥0.53 loss in FY 2021) Full year 2022 results: EPS: CN¥0.38 (up from CN¥0.53 loss in FY 2021). Revenue: CN¥6.55b (down 24% from FY 2021). Net income: CN¥428.6m (up CN¥1.04b from FY 2021). Profit margin: 6.5% (up from net loss in FY 2021). Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Feb 04
Yiwu Huading Nylon Co.,Ltd. announced that it expects to receive CNY 752.5 million in funding from True Love Group Co., Ltd. and another investor Yiwu Huading Nylon Co.,Ltd. announced that it signed the a conditionally effective non-public issuance stock subscription agreement to issue of 250,000,000 A shares at an issue price CNY 3.01 per share for gross proceeds not exceed CNY 752,500,000 on February 3, 2023. The transaction will include participation from returning investor, True Love Group Co., Ltd. for 210,000,000 A shares, and Zhuji Yuanfu Enterprise Management Partnership (Limited Partnership) for 40,000,000 A shares. The pricing base date for this non-public offering of stocks is the announcement date of the board resolution for reviewing the non-public offering of stocks, and the issue price is CNY 3.01 per share, which is no less than 20 transactions before the pricing base date 80% of the average trading price of the company’s stock on that date (the average trading price of the company’s stock in the 20 trading days before the pricing base date equal to the total stock trading volume in the 20 trading days before the pricing base date/the total stock trading volume in the 20 trading days before the pricing base date). The shares subscribed by the investors for this non-public offering shall not be transferred within 36 months from the date of the end of this non-public offering. The transaction has been reviewed and approved at the twenty-third meeting of the fifth session of the board of directors and the twenty-first meeting of the company's fifth board of supervisors of the company. The transaction is still needs to be approved by the company's shareholders' meeting and the China Securities Regulatory Commission. The validity period of the resolution on the non-public offering of shares is 12 months from the date of approval by the company's general meeting of shareholders. Announcement • Dec 08
Yiwu Huading Nylon Co.,Ltd. (SHSE:601113) entered into an agreement to acquire Zhejiang Yate New Material Co., Ltd. from True Love Group Co., Ltd., Zheng Qizhong, Zhuji Zhongcheng Enterprise Management Partnership (Limited Partnership), Zheng Qiming, Liu Yuanqing and Liu Zhongqing for CNY 1.2 billion. Yiwu Huading Nylon Co.,Ltd. (SHSE:601113) entered into an agreement to acquire Zhejiang Yate New Material Co., Ltd. from True Love Group Co., Ltd., Zheng Qizhong, Zhuji Zhongcheng Enterprise Management Partnership (Limited Partnership), Zheng Qiming, Liu Yuanqing and Liu Zhongqing for CNY 1.2 billion on December 6, 2022. On December 6, 2022, Yiwu Huading Nylon Co.,Ltd. held twenty-first meeting of the fifth board of directors. For the period ended June 30, 2022, Total Assets were of CNY 865 million and Net Assets were of CNY 395 million. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 29
Third quarter 2022 earnings released: CN¥0.075 loss per share (vs CN¥0.059 profit in 3Q 2021) Third quarter 2022 results: CN¥0.075 loss per share (down from CN¥0.059 profit in 3Q 2021). Revenue: CN¥1.69b (down 14% from 3Q 2021). Net loss: CN¥87.8m (down 236% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Oct 28
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 5.8%. The fair value is estimated to be CN¥5.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Sep 01
Second quarter 2022 earnings released: EPS: CN¥0.45 (vs CN¥0.07 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.45 (up from CN¥0.07 in 2Q 2021). Revenue: CN¥1.62b (down 40% from 2Q 2021). Net income: CN¥533.3m (up CN¥448.8m from 2Q 2021). Profit margin: 33% (up from 3.1% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Buying Opportunity • May 02
Now 22% undervalued Over the last 90 days, the stock is up 26%. The fair value is estimated to be CN¥5.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Meanwhile, the company became loss making. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.059 (vs CN¥0.04 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: CN¥1.96b (down 20% from 3Q 2020). Net income: CN¥64.6m (up 27% from 3Q 2020). Profit margin: 3.3% (up from 2.1% in 3Q 2020). 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 19% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 25
Second quarter 2021 earnings released: EPS CN¥0.07 (vs CN¥0.044 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: CN¥2.71b (down 5.7% from 2Q 2020). Net income: CN¥84.5m (up 101% from 2Q 2020). Profit margin: 3.1% (up from 1.5% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS CN¥0.08 (vs CN¥0.02 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥2.37b (up 26% from 1Q 2020). Net income: CN¥87.5m (up 225% from 1Q 2020). Profit margin: 3.7% (up from 1.4% in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 44 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Dec 24
New 90-day low: CN¥2.99 The company is down 3.0% from its price of CN¥3.07 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 Chemicals industry, which is up 9.0% over the same period. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total losses of CN¥1.46b, with earnings decreasing by CN¥1.73b from the prior year. Total revenue was CN¥9.87b over the last 12 months, up 22% from the prior year. Is New 90 Day High Low • Oct 14
New 90-day high: CN¥3.49 The company is up 21% from its price of CN¥2.88 on 16 July 2020. The Chinese market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 9.0% over the same period. Announcement • Aug 20
Zhejiang Development Asset Management Co., Ltd. acquired 2.93% stake of Yiwu Huading Nylon Co.,Ltd. (SHSE:601113) from Yiwu Chuangcheng Asset Management Co., Ltd. for CNY 93.6 million. Zhejiang Development Asset Management Co., Ltd. won a bid to acquire 2.93% stake of Yiwu Huading Nylon Co.,Ltd. (SHSE:601113) from Yiwu Chuangcheng Asset Management Co., Ltd. for CNY 93.6 million on July 28, 2020. Under the plan, Zhejiang Development will acquire 33.5 million shares. The transaction is enforced and approved by people's Court of Yiwu City of Zhejiang Province.
Zhejiang Development Asset Management Co., Ltd. completed the acquisition of 2.93% stake of Yiwu Huading Nylon Co.,Ltd. (SHSE:601113) from Yiwu Chuangcheng Asset Management Co., Ltd. on August 12, 2020. Announcement • Jul 10
Yiwu Huading Nylon Co.,Ltd. to Report First Half, 2020 Results on Aug 28, 2020 Yiwu Huading Nylon Co.,Ltd. announced that they will report first half, 2020 results on Aug 28, 2020 
