Announcement • Jun 30
GuangDong Leary New Material Technology Co.,Ltd. to Report First Half, 2026 Results on Aug 19, 2026 GuangDong Leary New Material Technology Co.,Ltd. announced that they will report first half, 2026 results on Aug 19, 2026 Declared Dividend • Jun 10
Dividend increased to CN¥0.08 Dividend of CN¥0.08 is 21% higher than last year. Ex-date: 12th June 2026 Payment date: 12th June 2026 Dividend yield will be 0.2%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (28% 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 decreased over the past 56 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 69% to shift the payout ratio to a potentially unsustainable range, which is more than the 15% EPS decline seen over the last 5 years. New Risk • Apr 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 8.0% 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 16% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Profit margins are more than 30% lower than last year (4.3% net profit margin). Reported Earnings • Apr 24
Full year 2025 earnings released: EPS: CN¥0.27 (vs CN¥0.24 in FY 2024) Full year 2025 results: EPS: CN¥0.27 (up from CN¥0.24 in FY 2024). Revenue: CN¥977.5m (up 86% from FY 2024). Net income: CN¥41.6m (up 11% from FY 2024). Profit margin: 4.3% (down from 7.1% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Announcement • Mar 30
GuangDong Leary New Material Technology Co.,Ltd. to Report Q1, 2026 Results on Apr 29, 2026 GuangDong Leary New Material Technology Co.,Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026 Reported Earnings • Jan 28
Full year 2025 earnings released: EPS: CN¥0.28 (vs CN¥0.24 in FY 2024) Full year 2025 results: EPS: CN¥0.28 (up from CN¥0.24 in FY 2024). Revenue: CN¥961.8m (up 83% from FY 2024). Net income: CN¥42.5m (up 14% from FY 2024). Profit margin: 4.4% (down from 7.1% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Announcement • Dec 26
GuangDong Leary New Material Technology Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 23, 2026 GuangDong Leary New Material Technology Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 23, 2026 Reported Earnings • Oct 28
Third quarter 2025 earnings released: EPS: CN¥0.07 (vs CN¥0.071 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.07. Revenue: CN¥266.6m (up 92% from 3Q 2024). Net income: CN¥10.9m (up 8.4% from 3Q 2024). Profit margin: 4.1% (down from 7.2% in 3Q 2024). The decrease in margin was driven by higher expenses. Announcement • Sep 30
GuangDong Leary New Material Technology Co.,Ltd. to Report Q3, 2025 Results on Oct 28, 2025 GuangDong Leary New Material Technology Co.,Ltd. announced that they will report Q3, 2025 results on Oct 28, 2025 New Risk • Aug 25
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 27% 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: Major Risk Earnings have declined by 18% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.2% average weekly change). Large one-off items impacting financial results. Reported Earnings • Aug 23
Second quarter 2025 earnings released: EPS: CN¥0.06 (vs CN¥0.06 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.06 (in line with 2Q 2024). Revenue: CN¥219.1m (up 72% from 2Q 2024). Net income: CN¥9.28m (flat on 2Q 2024). Profit margin: 4.2% (down from 7.2% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. 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 6.8% 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: Major Risks Earnings have declined by 20% per year over the past 5 years. High level of non-cash earnings (22% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.8% average weekly change). Announcement • Jun 30
GuangDong Leary New Material Technology Co.,Ltd. to Report First Half, 2025 Results on Aug 22, 2025 GuangDong Leary New Material Technology Co.,Ltd. announced that they will report first half, 2025 results on Aug 22, 2025 Declared Dividend • Jun 12
Dividend of CN¥0.066 announced Shareholders will receive a dividend of CN¥0.066. Ex-date: 16th June 2025 Payment date: 16th June 2025 Dividend yield will be 0.3%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (25% 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 decreased over the past 46 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 72% to shift the payout ratio to a potentially unsustainable range, which is more than the 14% EPS decline seen over the last 5 years. New Risk • Apr 28
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 Risks Earnings have declined by 20% per year over the past 5 years. High level of non-cash earnings (22% accrual ratio). Reported Earnings • Apr 22
Full year 2024 earnings released: EPS: CN¥0.24 (vs CN¥0.19 in FY 2023) Full year 2024 results: EPS: CN¥0.24 (up from CN¥0.19 in FY 2023). Revenue: CN¥525.6m (up 20% from FY 2023). Net income: CN¥37.4m (up 28% from FY 2023). Profit margin: 7.1% (up from 6.7% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Apr 21
GuangDong Leary New Material Technology Co.,Ltd., Annual General Meeting, May 12, 2025 GuangDong Leary New Material Technology Co.,Ltd., Annual General Meeting, May 12, 2025, at 16:00 China Standard Time. Location: 8F, No. 1, Shunhong Road, Wusha Community, Daliang Subdistrict, Shunde District, Foshan, Guangdong China Announcement • Mar 28
GuangDong Leary New Material Technology Co.,Ltd. to Report Q1, 2025 Results on Apr 26, 2025 GuangDong Leary New Material Technology Co.,Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 Reported Earnings • Feb 26
Full year 2024 earnings released: EPS: CN¥0.23 (vs CN¥0.19 in FY 2023) Full year 2024 results: EPS: CN¥0.23 (up from CN¥0.19 in FY 2023). Revenue: CN¥525.3m (up 20% from FY 2023). Net income: CN¥35.2m (up 20% from FY 2023). Profit margin: 6.7% (in line with FY 2023). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • Dec 27
GuangDong Leary New Material Technology Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 21, 2025 GuangDong Leary New Material Technology Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 21, 2025 Reported Earnings • Oct 28
Third quarter 2024 earnings released: EPS: CN¥0.071 (vs CN¥0.042 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.071 (up from CN¥0.042 in 3Q 2023). Revenue: CN¥138.7m (up 19% from 3Q 2023). Net income: CN¥10.0m (up 35% from 3Q 2023). Profit margin: 7.2% (up from 6.4% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • Oct 19
GuangDong Leary New Material Technology Co.,Ltd. (SHSE:688683) announces an Equity Buyback for 10% of its issued share capital, for CNY 40 million. GuangDong Leary New Material Technology Co.,Ltd. (SHSE:688683) announces a share repurchase program. Under the program, the company will repurchase up to 10% of its issued share capital, for CNY 40 million worth of class A shares. The shares will be repurchased at a price of not more than CNY 24.45 per share. The shares purchased will be used for the company's equity incentive plan or employee stock ownership plans and if the company fails to use up all the repurchased shares within 3 years after the announcement of the results of the share repurchase and the share changes, the unused repurchased shares will be cancelled. The program will be funded out of the company's own funds or self-raised funds. The program will be valid till 12 months. New Risk • Sep 30
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 6.9% 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 Risks Earnings have declined by 19% per year over the past 5 years. High level of non-cash earnings (22% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.9% average weekly change). Announcement • Sep 30
GuangDong Leary New Material Technology Co.,Ltd. to Report Q3, 2024 Results on Oct 28, 2024 GuangDong Leary New Material Technology Co.,Ltd. announced that they will report Q3, 2024 results on Oct 28, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥14.77, the stock trades at a trailing P/E ratio of 75.7x. Average trailing P/E is 30x in the Chemicals industry in China. Total loss to shareholders of 30% over the past three years. Reported Earnings • Aug 23
Second quarter 2024 earnings released: EPS: CN¥0.06 (vs CN¥0.061 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.06. Revenue: CN¥127.3m (up 7.9% from 2Q 2023). Net income: CN¥9.23m (up 8.8% from 2Q 2023). Profit margin: 7.2% (in line with 2Q 2023). Announcement • Jun 29
GuangDong Leary New Material Technology Co.,Ltd. to Report First Half, 2024 Results on Aug 23, 2024 GuangDong Leary New Material Technology Co.,Ltd. announced that they will report first half, 2024 results on Aug 23, 2024 Announcement • Apr 27
GuangDong Leary New Material Technology Co.,Ltd., Annual General Meeting, May 16, 2024 GuangDong Leary New Material Technology Co.,Ltd., Annual General Meeting, May 16, 2024, at 15:30 China Standard Time. Location: 8F, No. 1, Shunhong Road, Wusha Community, Daliang Subdistrict, Shunde District, Foshan, Guangdong China Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.05 (vs CN¥0.05 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.05 (in line with 1Q 2023). Revenue: CN¥99.6m (up 9.0% from 1Q 2023). Net income: CN¥8.33m (up 3.6% from 1Q 2023). Profit margin: 8.4% (down from 8.8% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Mar 30
GuangDong Leary New Material Technology Co.,Ltd. to Report Q1, 2024 Results on Apr 26, 2024 GuangDong Leary New Material Technology Co.,Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Reported Earnings • Feb 26
Full year 2023 earnings released: EPS: CN¥0.19 (vs CN¥0.32 in FY 2022) Full year 2023 results: EPS: CN¥0.19 (down from CN¥0.32 in FY 2022). Revenue: CN¥438.2m (down 7.9% from FY 2022). Net income: CN¥29.2m (down 39% from FY 2022). Profit margin: 6.7% (down from 10.0% in FY 2022). The decrease in margin was driven by lower revenue. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥16.13, the stock trades at a trailing P/E ratio of 77.1x. Average trailing P/E is 25x in the Chemicals industry in China. Total loss to shareholders of 35% over the past year. New Risk • Feb 05
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 7.5% 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 Risks Earnings have declined by 8.9% per year over the past 5 years. High level of non-cash earnings (25% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.5% average weekly change). Profit margins are more than 30% lower than last year (7.2% net profit margin). Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to CN¥16.28, the stock trades at a trailing P/E ratio of 77.8x. Average trailing P/E is 28x in the Chemicals industry in China. Total loss to shareholders of 27% over the past year. New Risk • Oct 27
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: 7.2% Last year net profit margin: 11% 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. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 8.9% per year over the past 5 years. High level of non-cash earnings (25% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (7.2% net profit margin). Shareholders have been diluted in the past year (4.5% increase in shares outstanding). New Risk • Sep 16
New major risk - Revenue and earnings growth Earnings have declined by 6.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 6.2% per year over the past 5 years. High level of non-cash earnings (22% accrual ratio). Minor Risk Shareholders have been diluted in the past year (4.5% increase in shares outstanding). Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: CN¥0.061 (vs CN¥0.08 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.061 (down from CN¥0.08 in 2Q 2022). Revenue: CN¥118.0m (down 1.4% from 2Q 2022). Net income: CN¥8.48m (down 30% from 2Q 2022). Profit margin: 7.2% (down from 10% in 2Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 79% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Chemicals industry in China. Announcement • Jun 28
GuangDong Leary New Material Technology Co.,Ltd to Report First Half, 2023 Results on Aug 30, 2023 GuangDong Leary New Material Technology Co.,Ltd announced that they will report first half, 2023 results on Aug 30, 2023 Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥25.87, the stock trades at a trailing P/E ratio of 74.4x. Average trailing P/E is 30x in the Chemicals industry in China. Total returns to shareholders of 14% over the past year. Announcement • Dec 02
GuangDong Leary New Material Technology Co.,Ltd announced that it has received CNY 120.999982 million in funding from China Asset Management Co., Ltd., Nuode Asset Management Co., Ltd., Caitong Fund Management Co., Ltd., Shenzhen Yuntu Asset Management Service Co., Ltd., China International Capital Corporation Limited,Investment Arm, Shaoguan Rongyu Enterprise Management Co., Ltd. On December 2, 2022, GuangDong Leary New Material Technology Co.,Ltd closed the transaction. The company has issued 5,276,929 ordinary shares at an issue price of CNY 22.93 per share, and a total raised fund of CNY 120,999,981.97. The company has paid issuance fee of RMB 3,524,920.38, and received net amount of CNY 117,475,061.59 in the transaction. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.11 (vs CN¥0.15 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.11 (down from CN¥0.15 in 3Q 2021). Revenue: CN¥117.3m (up 2.0% from 3Q 2021). Net income: CN¥16.9m (down 24% from 3Q 2021). Profit margin: 14% (down from 19% in 3Q 2021). Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: CN¥0.08 (vs CN¥0.11 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.08 (down from CN¥0.11 in 2Q 2021). Revenue: CN¥119.6m (flat on 2Q 2021). Net income: CN¥12.1m (down 23% from 2Q 2021). Profit margin: 10% (down from 13% in 2Q 2021). Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥30.97, the stock trades at a trailing P/E ratio of 73.6x. Average trailing P/E is 30x in the Chemicals industry in China. Total returns to shareholders of 76% over the past year. Reported Earnings • Apr 29
First quarter 2022 earnings released: EPS: CN¥0.07 (vs CN¥0.14 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.07 (down from CN¥0.14 in 1Q 2021). Revenue: CN¥111.9m (up 7.9% from 1Q 2021). Net income: CN¥10.3m (down 34% from 1Q 2021). Profit margin: 9.2% (down from 15% in 1Q 2021). The decrease in margin was driven by higher expenses. Reported Earnings • Feb 28
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: CN¥0.51 (down from CN¥0.57 in FY 2020). Revenue: CN¥455.7m (up 14% from FY 2020). Net income: CN¥70.0m (up 11% from FY 2020). Profit margin: 15% (in line with FY 2020). Revenue was in line with analyst estimates. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.15 (vs CN¥0.17 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¥115.0m (down 4.4% from 3Q 2020). Net income: CN¥22.2m (up 21% from 3Q 2020). Profit margin: 19% (up from 15% in 3Q 2020). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Aug 31
Investor sentiment improved over the past week After last week's 26% share price gain to CN¥22.33, the stock trades at a trailing P/E ratio of 48.7x. Average trailing P/E is 32x in the Chemicals industry in China. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥17.57, the stock trades at a trailing P/E ratio of 27.4x. Average trailing P/E is 30x in the Chemicals industry in China. 
