Reported Earnings • Apr 25
Full year 2025 earnings released: EPS: CN¥0.53 (vs CN¥0.55 in FY 2024) Full year 2025 results: EPS: CN¥0.53 (down from CN¥0.55 in FY 2024). Revenue: CN¥1.32b (down 3.1% from FY 2024). Net income: CN¥106.1m (down 3.7% from FY 2024). Profit margin: 8.0% (down from 8.1% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Announcement • Apr 25
Ningbo Tianlong Electronics Co., Ltd., Annual General Meeting, May 18, 2026 Ningbo Tianlong Electronics Co., Ltd., Annual General Meeting, May 18, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Ningbo, Zhejiang China Announcement • Apr 23
Ningbo Tianlong Electronics Co., Ltd. (SHSE:603266) completed the acquisition of 32.3% stake in Suzhou Haomibo Technology Co., Ltd. from a group of shareholders. Ningbo Tianlong Electronics Co., Ltd. (SHSE:603266) agreed to acquire 32.3% stake in Suzhou Haomibo Technology Co., Ltd. from a group of shareholders for approximately CNY 130 million on December 31, 2025. A cash consideration of CNY 131.84 million will be paid by Ningbo Tianlong Electronics Co., Ltd. As part of consideration, CNY 131.84 million is paid towards common equity of Suzhou Haomibo Technology Co., Ltd.
The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board of Ningbo Tianlong Electronics Co., Ltd.
Ningbo Tianlong Electronics Co., Ltd. (SHSE:603266) completed the acquisition of 32.3% stake in Suzhou Haomibo Technology Co., Ltd. from a group of shareholders on April 21, 2026. Announcement • Mar 30
Ningbo Tianlong Electronics Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Ningbo Tianlong Electronics Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Announcement • Dec 26
Ningbo Tianlong Electronics Co., Ltd. to Report Fiscal Year 2025 Results on Apr 25, 2026 Ningbo Tianlong Electronics Co., Ltd. announced that they will report fiscal year 2025 results on Apr 25, 2026 Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: CN¥0.14 (vs CN¥0.13 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.14 (up from CN¥0.13 in 3Q 2024). Revenue: CN¥332.9m (up 2.0% from 3Q 2024). Net income: CN¥26.2m (up 6.3% from 3Q 2024). Profit margin: 7.9% (up from 7.5% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Announcement • Sep 30
Ningbo Tianlong Electronics Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Ningbo Tianlong Electronics Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥26.04, the stock trades at a trailing P/E ratio of 47.6x. Average trailing P/E is 44x in the Chemicals industry in China. Total returns to shareholders of 95% over the past three years. New Risk • Jul 24
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 6.8% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.8% average weekly change). Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥20.95, the stock trades at a trailing P/E ratio of 40.5x. Average trailing P/E is 39x in the Chemicals industry in China. Total returns to shareholders of 44% over the past three years. Announcement • Jun 30
Ningbo Tianlong Electronics Co., Ltd. to Report First Half, 2025 Results on Aug 30, 2025 Ningbo Tianlong Electronics Co., Ltd. announced that they will report first half, 2025 results on Aug 30, 2025 Buy Or Sell Opportunity • Jun 23
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 2.7% to CN¥17.64. The fair value is estimated to be CN¥14.68, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.8% over the last 3 years, while earnings per share has been flat. Announcement • May 26
Ningbo Tianlong Electronics Co., Ltd., Annual General Meeting, Jun 20, 2025 Ningbo Tianlong Electronics Co., Ltd., Annual General Meeting, Jun 20, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Ningbo, Zhejiang China Reported Earnings • Apr 28
Full year 2024 earnings released: EPS: CN¥0.55 (vs CN¥0.56 in FY 2023) Full year 2024 results: EPS: CN¥0.55 (down from CN¥0.56 in FY 2023). Revenue: CN¥1.37b (up 3.7% from FY 2023). Net income: CN¥110.2m (down 1.2% from FY 2023). Profit margin: 8.1% (down from 8.5% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 28
Ningbo Tianlong Electronics Co., Ltd. to Report Q1, 2025 Results on Apr 30, 2025 Ningbo Tianlong Electronics Co., Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥18.99, the stock trades at a trailing P/E ratio of 35.2x. Average trailing P/E is 38x in the Chemicals industry in China. Total returns to shareholders of 50% over the past three years. Announcement • Dec 27
Ningbo Tianlong Electronics Co., Ltd. to Report Fiscal Year 2024 Results on Apr 30, 2025 Ningbo Tianlong Electronics Co., Ltd. announced that they will report fiscal year 2024 results on Apr 30, 2025 Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥20.75, the stock trades at a trailing P/E ratio of 38.5x. Average trailing P/E is 35x in the Chemicals industry in China. Total returns to shareholders of 100% over the past three years. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.13 (vs CN¥0.17 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.13 (down from CN¥0.17 in 3Q 2023). Revenue: CN¥326.3m (down 5.5% from 3Q 2023). Net income: CN¥24.6m (down 26% from 3Q 2023). Profit margin: 7.5% (down from 9.6% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 30
Ningbo Tianlong Electronics Co., Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Ningbo Tianlong Electronics Co., Ltd. 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 20% After last week's 20% share price gain to CN¥17.26, the stock trades at a trailing P/E ratio of 29.7x. Average trailing P/E is 30x in the Chemicals industry in China. Total returns to shareholders of 75% over the past three years. Buy Or Sell Opportunity • Sep 30
Now 30% overvalued after recent price rise Over the last 90 days, the stock has risen 2.7% to CN¥17.26. The fair value is estimated to be CN¥13.25, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has grown by 4.1%. Reported Earnings • Sep 02
Second quarter 2024 earnings released: EPS: CN¥0.12 (vs CN¥0.13 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.12. Revenue: CN¥320.1m (up 4.0% from 2Q 2023). Net income: CN¥25.0m (flat on 2Q 2023). Profit margin: 7.8% (down from 8.1% in 2Q 2023). The decrease in margin was driven by higher expenses. Buy Or Sell Opportunity • Jul 01
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 18% to CN¥17.03. The fair value is estimated to be CN¥21.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years. Earnings per share has grown by 4.2%. Announcement • Jun 28
Ningbo Tianlong Electronics Co., Ltd. to Report First Half, 2024 Results on Aug 30, 2024 Ningbo Tianlong Electronics Co., Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Buy Or Sell Opportunity • Jun 27
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to CN¥16.63. The fair value is estimated to be CN¥21.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years. Earnings per share has grown by 4.2%. Declared Dividend • Jun 13
Dividend increased to CN¥0.17 Dividend of CN¥0.17 is 31% higher than last year. Ex-date: 18th June 2024 Payment date: 18th June 2024 Dividend yield will be 1.0%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 4.2% per year over the past 7 years. However, payments have been volatile during that time. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Jun 06
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 22% to CN¥16.39. The fair value is estimated to be CN¥21.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years. Earnings per share has grown by 4.2%. New Risk • May 06
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 10% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (10% average weekly change). Announcement • Apr 27
Ningbo Tianlong Electronics Co., Ltd., Annual General Meeting, May 21, 2024 Ningbo Tianlong Electronics Co., Ltd., Annual General Meeting, May 21, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Ningbo, Zhejiang China Reported Earnings • Apr 26
Full year 2023 earnings released: EPS: CN¥0.56 (vs CN¥0.62 in FY 2022) Full year 2023 results: EPS: CN¥0.56 (down from CN¥0.62 in FY 2022). Revenue: CN¥1.32b (up 5.0% from FY 2022). Net income: CN¥111.5m (down 9.2% from FY 2022). Profit margin: 8.5% (down from 9.8% 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 6% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥16.32, the stock trades at a trailing P/E ratio of 28.7x. Average trailing P/E is 28x in the Chemicals industry in China. Total returns to shareholders of 60% over the past three years. Announcement • Mar 29
Ningbo Tianlong Electronics Co., Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Ningbo Tianlong Electronics Co., Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥24.16, the stock trades at a trailing P/E ratio of 42.4x. Average trailing P/E is 29x in the Chemicals industry in China. Total returns to shareholders of 139% over the past three years. Buy Or Sell Opportunity • Mar 14
Now 21% overvalued Over the last 90 days, the stock has fallen 14% to CN¥24.16. The fair value is estimated to be CN¥19.89, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has grown by 8.6%. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥18.90, the stock trades at a trailing P/E ratio of 33.2x. Average trailing P/E is 28x in the Chemicals industry in China. Total returns to shareholders of 109% over the past three years. Buy Or Sell Opportunity • Jan 25
Now 20% overvalued The stock has been flat over the last 90 days, currently trading at CN¥22.51. The fair value is estimated to be CN¥18.70, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has grown by 8.6%. Announcement • Dec 29
Ningbo Tianlong Electronics Co., Ltd. to Report Fiscal Year 2023 Results on Apr 26, 2024 Ningbo Tianlong Electronics Co., Ltd. announced that they will report fiscal year 2023 results on Apr 26, 2024 Valuation Update With 7 Day Price Move • Dec 26
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥33.61, the stock trades at a trailing P/E ratio of 59x. Average trailing P/E is 35x in the Chemicals industry in China. Total returns to shareholders of 218% over the past three years. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥38.88, the stock trades at a trailing P/E ratio of 68.3x. Average trailing P/E is 38x in the Chemicals industry in China. Total returns to shareholders of 213% over the past three years. Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: CN¥0.17 (vs CN¥0.18 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.17 (down from CN¥0.18 in 3Q 2022). Revenue: CN¥345.3m (flat on 3Q 2022). Net income: CN¥33.2m (down 3.0% from 3Q 2022). Profit margin: 9.6% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment improves as stock rises 44% After last week's 44% share price gain to CN¥22.36, the stock trades at a trailing P/E ratio of 39x. Average trailing P/E is 33x in the Chemicals industry in China. Total returns to shareholders of 92% over the past three years. New Risk • Oct 13
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 6.1% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.1% average weekly change). Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥16.69, the stock trades at a trailing P/E ratio of 29.1x. Average trailing P/E is 34x in the Chemicals industry in China. Total returns to shareholders of 47% over the past three years. Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: CN¥0.13 (vs CN¥0.16 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.13 (down from CN¥0.16 in 2Q 2022). Revenue: CN¥307.8m (up 7.9% from 2Q 2022). Net income: CN¥24.9m (down 22% from 2Q 2022). Profit margin: 8.1% (down from 11% in 2Q 2022). 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 only increased by 2% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥16.05, the stock trades at a trailing P/E ratio of 26.3x. Average trailing P/E is 30x in the Chemicals industry in China. Total returns to shareholders of 22% over the past three years. Upcoming Dividend • Jun 19
Upcoming dividend of CN¥0.13 per share at 0.9% yield Eligible shareholders must have bought the stock before 26 June 2023. Payment date: 26 June 2023. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Chinese dividend payers (2.0%). Lower than average of industry peers (1.9%). Reported Earnings • Apr 26
Full year 2022 earnings released: EPS: CN¥0.62 (vs CN¥0.50 in FY 2021) Full year 2022 results: EPS: CN¥0.62 (up from CN¥0.50 in FY 2021). Revenue: CN¥1.25b (up 5.9% from FY 2021). Net income: CN¥122.8m (up 25% from FY 2021). Profit margin: 9.8% (up from 8.3% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% 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 • Apr 21
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 8.0%. The fair value is estimated to be CN¥16.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 19%. Announcement • Jan 09
Ningbo Tianlong Electronics Co., Ltd. (SHSE:603266) and Suzhou Industrial Park Zhongyuan Naxing Venture Capital Partnership (Limited Partnership) signed the Equity transfer agreement to acquire 5.4546% in Zhejiang Grecon Semiconductor Co., Ltd from group of sellers for CNY 30 million. Ningbo Tianlong Electronics Co., Ltd. (SHSE:603266) and Suzhou Industrial Park Zhongyuan Naxing Venture Capital Partnership (Limited Partnership) signed the Equity transfer agreement to acquire 5.4546% in Zhejiang Grecon Semiconductor Co., Ltd from Shanghai Cuiyuan Semiconductor Technology Partnership (Limited Partnership), Shanghai Cuirui Semiconductor Partnership (Limited Partnership), Shanghai Cuijiang Semiconductor Partnership (Limited Partnership) and Shanghai Cuixin Semiconductor Partnership (Limited Partnership) for CNY 30 million on January 6, 2023. The transaction was approved by Ningbo Tianlong Electronics Co., Ltd. thirteenth meeting of the fourth board of directors. For the year ended, October 31, 2022, Zhejiang Grecon Semiconductor Co., Ltd total asset is CNY 152.98 million and net asset is CNY 103.71 million. 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. 3 non-independent directors. Independent Director Yang Juan Ping was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 30
Third quarter 2022 earnings released: EPS: CN¥0.18 (vs CN¥0.11 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.18 (up from CN¥0.11 in 3Q 2021). Revenue: CN¥345.4m (up 23% from 3Q 2021). Net income: CN¥34.2m (up 52% from 3Q 2021). Profit margin: 9.9% (up from 8.0% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 28
Second quarter 2022 earnings released: EPS: CN¥0.16 (vs CN¥0.13 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.16 (up from CN¥0.13 in 2Q 2021). Revenue: CN¥285.4m (flat on 2Q 2021). Net income: CN¥31.9m (up 26% from 2Q 2021). Profit margin: 11% (up from 8.8% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥16.20, the stock trades at a trailing P/E ratio of 32.5x. Average trailing P/E is 28x in the Chemicals industry in China. Total returns to shareholders of 35% over the past three years. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment deteriorated over the past week After last week's 20% share price decline to CN¥13.73, the stock trades at a trailing P/E ratio of 27.9x. Average trailing P/E is 23x in the Chemicals industry in China. Total loss to shareholders of 19% over the past three years. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. No independent directors (7 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: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Apr 27
Full year 2021 earnings released: EPS: CN¥0.50 (vs CN¥0.47 in FY 2020) Full year 2021 results: EPS: CN¥0.50 (up from CN¥0.47 in FY 2020). Revenue: CN¥1.18b (up 22% from FY 2020). Net income: CN¥98.0m (up 5.6% from FY 2020). Profit margin: 8.3% (down from 9.5% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥15.95, the stock trades at a trailing P/E ratio of 31.1x. Average trailing P/E is 28x in the Chemicals industry in China. Total loss to shareholders of 3.3% over the past three years. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥13.73, the stock trades at a trailing P/E ratio of 26.8x. Average trailing P/E is 30x in the Chemicals industry in China. Total loss to shareholders of 4.7% over the past three years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥13.50, the stock trades at a trailing P/E ratio of 26.3x. Average trailing P/E is 33x in the Chemicals industry in China. Total returns to shareholders of 19% over the past three years. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.11 (vs CN¥0.14 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¥281.3m (up 4.4% from 3Q 2020). Net income: CN¥22.6m (down 21% from 3Q 2020). Profit margin: 8.0% (down from 11% 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 20% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥10.13, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 32x in the Chemicals industry in China. Total returns to shareholders of 8.6% over the past three years. Reported Earnings • Aug 30
Second quarter 2021 earnings released: EPS CN¥0.13 (vs CN¥0.12 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¥285.9m (up 18% from 2Q 2020). Net income: CN¥25.2m (up 6.3% from 2Q 2020). Profit margin: 8.8% (down from 9.8% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 25
Full year 2020 earnings released: EPS CN¥0.47 (vs CN¥0.33 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥973.3m (up 5.9% from FY 2019). Net income: CN¥92.8m (up 43% from FY 2019). Profit margin: 9.5% (up from 7.1% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 03
New 90-day low: CN¥9.94 The company is down 21% from its price of CN¥12.63 on 05 November 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 21% over the same period. Is New 90 Day High Low • Jan 12
New 90-day low: CN¥10.81 The company is down 9.0% from its price of CN¥11.85 on 14 October 2020. The Chinese market is up 3.0% 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. Announcement • Jan 08
Ningbo Tianlong Electronics Co., Ltd. (SHSE:603266) entered into a equity transfer agreement to acquire 4.1818% stake in Wuhan First Bioscience Inc. from Boai NKY Medical Holdings Ltd. (SZSE:300109) for CNY 14 million. Ningbo Tianlong Electronics Co., Ltd. (SHSE:603266) entered into a equity transfer agreement to acquire 4.1818% stake in Wuhan First Bioscience Inc. from Boai NKY Medical Holdings Ltd. (SZSE:300109) for CNY 14 million on January 6, 2021. Ningbo Tianlong Electronics will pay the total consideration to Boai NKY Medical Holdings within 5 working days after the agreement becomes effective. As a result of the transaction, Boai NKY Medical Holdings Ltd. will hold 4% stake in Wuhan First Bioscience Inc. The transaction was approved by the Board of Directors of Boai NKY Medical Holdings Ltd. Is New 90 Day High Low • Dec 24
New 90-day low: CN¥10.87 The company is down 2.0% from its price of CN¥11.09 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. Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥11.88, the stock is trading at a trailing P/E ratio of 28.2x, down from the previous P/E ratio of 33.3x. This compares to an average P/E of 37x in the Chemicals industry in China. Total return to shareholders over the past three years is a loss of 8.2%. Is New 90 Day High Low • Nov 27
New 90-day high: CN¥13.22 The company is up 4.0% from its price of CN¥12.71 on 28 August 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 5.0% 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¥82.9m, up 34% from the prior year. Total revenue was CN¥931.8m over the last 12 months, up 3.7% from the prior year. Announcement • Jul 18
Ningbo Tianlong Electronics Co., Ltd. to Report First Half, 2020 Results on Aug 29, 2020 Ningbo Tianlong Electronics Co., Ltd. announced that they will report first half, 2020 results on Aug 29, 2020