Announcement • Jun 30
Donglai Coating Technology(Shanghai)Co.,Ltd to Report First Half, 2026 Results on Aug 29, 2026 Donglai Coating Technology(Shanghai)Co.,Ltd announced that they will report first half, 2026 results on Aug 29, 2026 New Risk • Jun 19
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% 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 Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥27.16, the stock trades at a trailing P/E ratio of 30.4x. Average trailing P/E is 48x in the Chemicals industry in China. Total returns to shareholders of 101% over the past three years. Announcement • Apr 24
Donglai Coating Technology(Shanghai)Co.,Ltd announced that it expects to receive CNY 300 million in funding Donglai Coating Technology(Shanghai)Co.,Ltd has announced private placement to issue A shares not more than 30% of total share capital at an issue price of not less than 80% of the average price in the 20 trading days before the pricing reference date for gross proceeds not more then CNY 300,000,000 on April 22, 2026. The transaction will include investor participation not more than 35 investors. The transaction is approved by 3rd directorate in 20th meeting of proposal about submitting a proposal to the shareholders meeting to authorize the directorate to Implement a simplified private placement of shares. The transaction is subject to approval of company’s annual shareholders. All the securities issued in the offering is subject to a hold period of 6 months from date of issuance. Reported Earnings • Apr 24
Full year 2025 earnings released: EPS: CN¥0.90 (vs CN¥0.75 in FY 2024) Full year 2025 results: EPS: CN¥0.90 (up from CN¥0.75 in FY 2024). Revenue: CN¥662.7m (up 11% from FY 2024). Net income: CN¥100.6m (up 19% from FY 2024). Profit margin: 15% (up from 14% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Announcement • Apr 24
Donglai Coating Technology(Shanghai)Co.,Ltd, Annual General Meeting, May 22, 2026 Donglai Coating Technology(Shanghai)Co.,Ltd, Annual General Meeting, May 22, 2026, at 13:30 China Standard Time. Location: The Company's Meeting Room, Shanghai China Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥27.09, the stock trades at a trailing P/E ratio of 30.5x. Average trailing P/E is 48x in the Chemicals industry in China. Total returns to shareholders of 111% over the past three years. Announcement • Mar 30
Donglai Coating Technology(Shanghai)Co.,Ltd to Report Q1, 2026 Results on Apr 30, 2026 Donglai Coating Technology(Shanghai)Co.,Ltd announced that they will report Q1, 2026 results on Apr 30, 2026 Reported Earnings • Mar 05
Full year 2025 earnings released: EPS: CN¥0.90 (vs CN¥0.75 in FY 2024) Full year 2025 results: EPS: CN¥0.90 (up from CN¥0.75 in FY 2024). Revenue: CN¥663.1m (up 11% from FY 2024). Net income: CN¥100.4m (up 19% from FY 2024). Profit margin: 15% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Dec 26
Donglai Coating Technology(Shanghai)Co.,Ltd to Report Fiscal Year 2025 Results on Apr 24, 2026 Donglai Coating Technology(Shanghai)Co.,Ltd announced that they will report fiscal year 2025 results on Apr 24, 2026 Reported Earnings • Oct 28
Third quarter 2025 earnings released: EPS: CN¥0.22 (vs CN¥0.23 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.22 (down from CN¥0.23 in 3Q 2024). Revenue: CN¥166.0m (down 4.0% from 3Q 2024). Net income: CN¥24.2m (down 15% from 3Q 2024). Profit margin: 15% (down from 17% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Donglai Coating Technology(Shanghai)Co.,Ltd to Report Q3, 2025 Results on Oct 28, 2025 Donglai Coating Technology(Shanghai)Co.,Ltd announced that they will report Q3, 2025 results on Oct 28, 2025 Reported Earnings • Sep 02
Second quarter 2025 earnings released: EPS: CN¥0.21 (vs CN¥0.17 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.21 (up from CN¥0.17 in 2Q 2024). Revenue: CN¥173.8m (up 14% from 2Q 2024). Net income: CN¥23.2m (up 41% from 2Q 2024). Profit margin: 13% (up from 11% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. New Risk • Aug 11
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 6.6% 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 5.0% per year over the past 5 years. 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 (6.6% average weekly change). Large one-off items impacting financial results. Announcement • Jun 30
Donglai Coating Technology(Shanghai)Co.,Ltd to Report First Half, 2025 Results on Aug 29, 2025 Donglai Coating Technology(Shanghai)Co.,Ltd announced that they will report first half, 2025 results on Aug 29, 2025 Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥24.91, the stock trades at a trailing P/E ratio of 32.2x. Average trailing P/E is 37x in the Chemicals industry in China. Total returns to shareholders of 86% over the past three years. Reported Earnings • Apr 28
First quarter 2025 earnings released: EPS: CN¥0.19 (vs CN¥0.17 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.19 (up from CN¥0.17 in 1Q 2024). Revenue: CN¥124.8m (up 11% from 1Q 2024). Net income: CN¥21.3m (up 6.4% from 1Q 2024). Profit margin: 17% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Announcement • Apr 26
Donglai Coating Technology(Shanghai)Co.,Ltd, Annual General Meeting, May 19, 2025 Donglai Coating Technology(Shanghai)Co.,Ltd, Annual General Meeting, May 19, 2025, at 13:30 China Standard Time. Location: The Company's Meeting Room, Shanghai China Announcement • Mar 28
Donglai Coating Technology(Shanghai)Co.,Ltd to Report Q1, 2025 Results on Apr 26, 2025 Donglai Coating Technology(Shanghai)Co.,Ltd announced that they will report Q1, 2025 results on Apr 26, 2025 Reported Earnings • Feb 27
Full year 2024 earnings released: EPS: CN¥0.76 (vs CN¥0.44 in FY 2023) Full year 2024 results: EPS: CN¥0.76 (up from CN¥0.44 in FY 2023). Revenue: CN¥597.5m (up 15% from FY 2023). Net income: CN¥85.2m (up 65% from FY 2023). Profit margin: 14% (up from 10.0% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Dec 27
Donglai Coating Technology(Shanghai)Co.,Ltd to Report Fiscal Year 2024 Results on Apr 26, 2025 Donglai Coating Technology(Shanghai)Co.,Ltd announced that they will report fiscal year 2024 results on Apr 26, 2025 Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.23 (vs CN¥0.21 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.23 (up from CN¥0.21 in 3Q 2023). Revenue: CN¥172.9m (up 8.9% from 3Q 2023). Net income: CN¥28.6m (up 38% from 3Q 2023). Profit margin: 17% (up from 13% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 2% per year. Announcement • Sep 30
Donglai Coating Technology(Shanghai)Co.,Ltd to Report Q3, 2024 Results on Oct 29, 2024 Donglai Coating Technology(Shanghai)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 25% After last week's 25% share price gain to CN¥14.10, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 30x in the Chemicals industry in China. Total loss to shareholders of 15% over the past three years. Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: CN¥0.17 (vs CN¥0.03 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.17 (up from CN¥0.03 in 2Q 2023). Revenue: CN¥153.2m (up 30% from 2Q 2023). Net income: CN¥16.4m (up 249% from 2Q 2023). Profit margin: 11% (up from 4.0% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Announcement • Jun 28
Donglai Coating Technology(Shanghai)Co.,Ltd to Report First Half, 2024 Results on Aug 28, 2024 Donglai Coating Technology(Shanghai)Co.,Ltd announced that they will report first half, 2024 results on Aug 28, 2024 New Risk • May 14
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 Risk Earnings have declined by 21% per year over the past 5 years. Minor Risk Paying a dividend despite having no free cash flows. Announcement • Apr 29
Donglai Coating Technology (Shanghai) Co., Ltd., Annual General Meeting, May 29, 2024 Donglai Coating Technology (Shanghai) Co., Ltd., Annual General Meeting, May 29, 2024, at 13:30 China Standard Time. Location: The Company's Meeting Room, Shanghai China Reported Earnings • Apr 27
First quarter 2024 earnings released: EPS: CN¥0.17 (vs CN¥0.03 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.17 (up from CN¥0.03 in 1Q 2023). Revenue: CN¥112.9m (up 36% from 1Q 2023). Net income: CN¥20.0m (up CN¥16.9m from 1Q 2023). Profit margin: 18% (up from 3.7% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 40% 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. 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¥11.42, the stock trades at a trailing P/E ratio of 26.5x. Average trailing P/E is 28x in the Chemicals industry in China. Total loss to shareholders of 37% over the past three years. Announcement • Mar 30
Donglai Coating Technology (Shanghai) Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Donglai Coating Technology (Shanghai) Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Reported Earnings • Feb 26
Full year 2023 earnings released: EPS: CN¥0.43 (vs CN¥0.18 in FY 2022) Full year 2023 results: EPS: CN¥0.43 (up from CN¥0.18 in FY 2022). Revenue: CN¥519.4m (up 32% from FY 2022). Net income: CN¥50.8m (up 136% from FY 2022). Profit margin: 9.8% (up from 5.5% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥11.00, the stock trades at a trailing P/E ratio of 45.1x. Average trailing P/E is 24x in the Chemicals industry in China. Total loss to shareholders of 34% over the past three years. Announcement • Feb 03
Donglai Coating Technology (Shanghai) Co., Ltd. (SHSE:688129) announces an Equity Buyback for CNY 80 million worth of its shares. Donglai Coating Technology (Shanghai) Co., Ltd. (SHSE:688129) announces a share repurchase program. Under the program, the company will repurchase up to CNY 80 million worth of its shares. The shares will be repurchased at a price not more than CNY 21.99 per share. The purpose of the plan is ESOP or equity incentives. The source of funds for this repurchase is the company's own or self-raised funds. The plan will be valid for 3 months. Valuation Update With 7 Day Price Move • Jan 23
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥13.67, the stock trades at a trailing P/E ratio of 56.1x. Average trailing P/E is 31x in the Chemicals industry in China. Total loss to shareholders of 23% over the past three years. Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: CN¥0.21 (vs CN¥0.019 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.21 (up from CN¥0.019 in 3Q 2022). Revenue: CN¥158.7m (up 50% from 3Q 2022). Net income: CN¥20.8m (up CN¥18.6m from 3Q 2022). Profit margin: 13% (up from 2.1% in 3Q 2022). 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 15% per year, which means it has not declined as severely as earnings. Announcement • Jun 28
Donglai Coating Technology (Shanghai) Co., Ltd. to Report First Half, 2023 Results on Aug 30, 2023 Donglai Coating Technology (Shanghai) Co., Ltd. announced that they will report first half, 2023 results on Aug 30, 2023 Reported Earnings • Apr 26
Full year 2022 earnings released: EPS: CN¥0.18 (vs CN¥0.78 in FY 2021) Full year 2022 results: EPS: CN¥0.18 (down from CN¥0.78 in FY 2021). Revenue: CN¥393.6m (down 20% from FY 2021). Net income: CN¥21.5m (down 77% from FY 2021). Profit margin: 5.5% (down from 19% in FY 2021). The decrease in margin was driven by lower revenue. Reported Earnings • Mar 01
Full year 2022 earnings released: EPS: CN¥0.18 (vs CN¥0.78 in FY 2021) Full year 2022 results: EPS: CN¥0.18 (down from CN¥0.78 in FY 2021). Revenue: CN¥393.6m (down 20% from FY 2021). Net income: CN¥21.7m (down 77% from FY 2021). Profit margin: 5.5% (down from 19% in FY 2021). The decrease in margin was driven by lower revenue. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Jiansheng Wang 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. Announcement • Nov 12
Donglai Coating Technology (Shanghai) Co., Ltd. (SHSE:688129) announces an Equity Buyback for CNY 50 million worth of its shares. Donglai Coating Technology (Shanghai) Co., Ltd. (SHSE:688129) announces a share repurchase program. Under the program, the company will repurchase up to CNY 50 million worth of its shares. The shares will be repurchased at a price not more than CNY 17.02 per share. The purpose of the plan is ESOP or equity incentives. The plan will be valid for 12 months. Reported Earnings • Oct 30
Third quarter 2022 earnings released: EPS: CN¥0.019 (vs CN¥0.17 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.019 (down from CN¥0.17 in 3Q 2021). Revenue: CN¥105.9m (down 10.0% from 3Q 2021). Net income: CN¥2.20m (down 89% from 3Q 2021). Profit margin: 2.1% (down from 18% in 3Q 2021). The decrease in margin was primarily driven by lower revenue. Reported Earnings • Sep 01
Second quarter 2022 earnings released: EPS: CN¥0.07 (vs CN¥0.20 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.07 (down from CN¥0.20 in 2Q 2021). Revenue: CN¥85.5m (down 25% from 2Q 2021). Net income: CN¥8.18m (down 67% from 2Q 2021). Profit margin: 9.6% (down from 22% in 2Q 2021). The decrease in margin was driven by lower revenue. Reported Earnings • Apr 30
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: CN¥0.78. Revenue: CN¥493.7m (up 21% from FY 2020). Net income: CN¥93.9m (up 20% from FY 2020). Profit margin: 19% (in line with FY 2020). Revenue missed analyst estimates by 10%. Earnings per share (EPS) exceeded analyst estimates by 24%. Reported Earnings • Feb 21
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: CN¥0.79 (down from CN¥0.82 in FY 2020). Revenue: CN¥492.7m (up 21% from FY 2020). Net income: CN¥95.0m (up 21% from FY 2020). Profit margin: 19% (in line with FY 2020). Revenue missed analyst estimates by 10%. Earnings per share (EPS) exceeded analyst estimates by 24%. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥18.60, the stock trades at a trailing P/E ratio of 25.5x. Average trailing P/E is 31x in the Chemicals industry in China. Total loss to shareholders of 32% over the past year. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.17 (vs CN¥0.26 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¥117.7m (up 6.6% from 3Q 2020). Net income: CN¥20.6m (down 13% from 3Q 2020). Profit margin: 18% (down from 22% in 3Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS CN¥0.20 (vs CN¥0.24 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥114.3m (up 8.2% from 2Q 2020). Net income: CN¥24.8m (up 16% from 2Q 2020). Profit margin: 22% (up from 20% in 2Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Apr 11
Full year 2020 earnings released: EPS CN¥0.82 (vs CN¥0.91 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: CN¥408.0m (down 13% from FY 2019). Net income: CN¥78.4m (down 4.4% from FY 2019). Profit margin: 19% (up from 18% in FY 2019). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥19.95, the stock is trading at a trailing P/E ratio of 23.2x, up from the previous P/E ratio of 19.6x. This compares to an average P/E of 37x in the Chemicals industry in China. Is New 90 Day High Low • Feb 10
New 90-day low: CN¥16.90 The company is down 33% from its price of CN¥25.26 on 12 November 2020. The Chinese market is up 8.0% 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 25
New 90-day low: CN¥17.77 The company is down 37% from its price of CN¥28.06 on 27 October 2020. The Chinese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 25% over the same period. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥19.86, the stock is trading at a trailing P/E ratio of 23.1x, down from the previous P/E ratio of 28.3x. This compares to an average P/E of 35x in the Chemicals industry in China. Valuation Update With 7 Day Price Move • Nov 19
Market bids up stock over the past week After last week's 17% share price gain to CN¥29.67, the stock is trading at a trailing P/E ratio of 34.5x, up from the previous P/E ratio of 29.4x. This compares to an average P/E of 39x in the Chemicals industry in China. 
