Declared Dividend • Jul 06
Dividend of CN¥0.10 announced Shareholders will receive a dividend of CN¥0.10. Ex-date: 10th July 2026 Payment date: 10th July 2026 Dividend yield will be 0.4%, which is lower than the industry average of 2.8%. Sustainability & Growth Dividend is not covered by earnings (122% earnings payout ratio) nor is it covered by cash flows (dividend approximately 5x free cash flows). The dividend has increased by an average of 10% per year over the past 8 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 35% to bring the payout ratio under control. However, EPS has declined by 10% over the last 5 years so the company would need to reverse this trend. Announcement • Jun 30
Western Metal Materials Co., Ltd. to Report First Half, 2026 Results on Aug 11, 2026 Western Metal Materials Co., Ltd. announced that they will report first half, 2026 results on Aug 11, 2026 New Risk • May 11
New major risk - Revenue and earnings growth Earnings have declined by 3.3% 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 Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 3.3% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.6% net profit margin). Announcement • Apr 28
Western Metal Materials Co., Ltd., Annual General Meeting, May 19, 2026 Western Metal Materials Co., Ltd., Annual General Meeting, May 19, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Xi'an, Shaanxi China Announcement • Mar 31
Western Metal Materials Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Western Metal Materials Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 New Risk • Jan 13
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 9.5% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.5% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 164% Cash payout ratio: 182% Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.0% net profit margin). Announcement • Dec 31
Western Metal Materials Co., Ltd. to Report Fiscal Year 2025 Results on Apr 28, 2026 Western Metal Materials Co., Ltd. announced that they will report fiscal year 2025 results on Apr 28, 2026 New Risk • Dec 12
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 7.4% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 164% Cash payout ratio: 182% Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.0% net profit margin). New Risk • Oct 31
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: 3.0% Last year net profit margin: 5.9% 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 Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 109% Cash payout ratio: 182% Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.0% net profit margin). Announcement • Sep 30
Western Metal Materials Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Western Metal Materials Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥18.37, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 18x in the Metals and Mining industry in China. Total returns to shareholders of 27% over the past three years. Announcement • Jul 02
Western Metal Materials Co., Ltd. to Report First Half, 2025 Results on Aug 27, 2025 Western Metal Materials Co., Ltd. announced that they will report first half, 2025 results on Aug 27, 2025 Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥19.26, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 17x in the Metals and Mining industry in China. Total returns to shareholders of 50% over the past three years. Major Estimate Revision • May 13
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥3.77b to CN¥3.56b. EPS estimate also fell from CN¥0.615 per share to CN¥0.525 per share. Net income forecast to grow 80% next year vs 37% growth forecast for Metals and Mining industry in China. Consensus price target of CN¥22.00 unchanged from last update. Share price was steady at CN¥19.65 over the past week. New Risk • May 05
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 96% Cash payout ratio: 147% Dividend yield: 2.2% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 96% Cash payout ratio: 147% Minor Risk Large one-off items impacting financial results. Reported Earnings • Apr 29
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.32 (down from CN¥0.40 in FY 2023). Revenue: CN¥2.95b (down 8.7% from FY 2023). Net income: CN¥157.8m (down 20% from FY 2023). Profit margin: 5.4% (down from 6.1% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 6.3%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 29
Western Metal Materials Co., Ltd., Annual General Meeting, May 22, 2025 Western Metal Materials Co., Ltd., Annual General Meeting, May 22, 2025, at 14:30 China Standard Time. Announcement • Mar 31
Western Metal Materials Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Western Metal Materials Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 New Risk • Mar 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 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: 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 (8.0% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥21.80, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 16x in the Metals and Mining industry in China. Total returns to shareholders of 68% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥13.06 per share. Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥18.47, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 14x in the Metals and Mining industry in China. Total returns to shareholders of 16% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥13.31 per share. Buy Or Sell Opportunity • Jan 06
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 1.0% to CN¥16.02. The fair value is estimated to be CN¥13.26, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 36% in 2 years. Earnings are forecast to grow by 103% in the next 2 years. Announcement • Dec 31
Western Metal Materials Co., Ltd. to Report Fiscal Year 2024 Results on Apr 22, 2025 Western Metal Materials Co., Ltd. announced that they will report fiscal year 2024 results on Apr 22, 2025 Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥18.11, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 14x in the Metals and Mining industry in China. Total returns to shareholders of 5.8% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥24.10 per share. Price Target Changed • Dec 19
Price target increased by 22% to CN¥22.00 Up from CN¥18.00, the current price target is provided by 1 analyst. New target price is 27% above last closing price of CN¥17.31. Stock is up 23% over the past year. The company is forecast to post earnings per share of CN¥0.39 for next year compared to CN¥0.40 last year. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.086 (vs CN¥0.097 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.086 (down from CN¥0.097 in 3Q 2023). Revenue: CN¥676.0m (down 13% from 3Q 2023). Net income: CN¥42.2m (down 11% from 3Q 2023). Profit margin: 6.2% (up from 6.1% in 3Q 2023). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Western Metal Materials Co., Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Western Metal Materials 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 19% After last week's 19% share price gain to CN¥15.08, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 14x in the Metals and Mining industry in China. Total loss to shareholders of 10% over the past three years. New Risk • Sep 21
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 45% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Announcement • Sep 21
Western Metal Materials Co., Ltd. Approves Interim Cash Dividend for 2024 Western Metal Materials Co., Ltd. announced that at the fourth extraordinary general meeting of 2024 on 19 September 2024, approved cash dividend/10 shares (tax included): CNY 1.00000000 for 2024. Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: CN¥0.12 (vs CN¥0.14 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.12 (down from CN¥0.14 in 2Q 2023). Revenue: CN¥839.5m (down 1.6% from 2Q 2023). Net income: CN¥58.9m (down 14% from 2Q 2023). Profit margin: 7.0% (down from 8.0% in 2Q 2023). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Jun 29
Western Metal Materials Co., Ltd. to Report First Half, 2024 Results on Aug 31, 2024 Western Metal Materials Co., Ltd. announced that they will report first half, 2024 results on Aug 31, 2024 Declared Dividend • Jun 19
Dividend reduced to CN¥0.15 Dividend of CN¥0.15 is 25% lower than last year. Ex-date: 24th June 2024 Payment date: 24th June 2024 Dividend yield will be 1.0%, which is lower than the industry average of 2.8%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 8.9% per year over the past 6 years. However, payments have been volatile during that time. EPS is expected to grow by 122% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 02
Western Metal Materials Co., Ltd., Annual General Meeting, Apr 29, 2024 Western Metal Materials Co., Ltd., Annual General Meeting, Apr 29, 2024, at 14:30 China Standard Time. Location: No. 15, Xijin Road West Section, Jingwei Industrial Park, Economic Development Zone, Xi'an, Shaanxi China Reported Earnings • Apr 02
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.40 (up from CN¥0.38 in FY 2022). Revenue: CN¥3.23b (up 9.7% from FY 2022). Net income: CN¥196.2m (up 6.1% from FY 2022). Profit margin: 6.1% (down from 6.3% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 8.6%. Earnings per share (EPS) also missed analyst estimates by 21%. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Metals and Mining industry in China. 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 7% per year, which means it is significantly lagging earnings growth. Announcement • Mar 30
Western Metal Materials Co., Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Western Metal Materials Co., Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥15.50, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 13x in the Metals and Mining industry in China. Total returns to shareholders of 22% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥15.25 per share. Buy Or Sell Opportunity • Feb 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 28% to CN¥10.60. The fair value is estimated to be CN¥13.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 26%. Revenue is forecast to grow by 58% in 2 years. Earnings are forecast to grow by 90% in the next 2 years. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥11.40, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 12x in the Metals and Mining industry in China. Total loss to shareholders of 9.6% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥13.47 per share. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥13.64, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 13x in the Metals and Mining industry in China. Total loss to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥14.12 per share. Announcement • Dec 29
Western Metal Materials Co., Ltd. to Report Fiscal Year 2023 Results on Apr 02, 2024 Western Metal Materials Co., Ltd. announced that they will report fiscal year 2023 results on Apr 02, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.097 (vs CN¥0.086 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.097 (up from CN¥0.086 in 3Q 2022). Revenue: CN¥777.7m (up 12% from 3Q 2022). Net income: CN¥47.3m (up 13% from 3Q 2022). Profit margin: 6.1% (up from 6.0% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Western Metal Materials Co., Ltd. to Report Q3, 2023 Results on Oct 31, 2023 Western Metal Materials Co., Ltd. announced that they will report Q3, 2023 results on Oct 31, 2023 New Risk • Sep 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 33% 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. Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: CN¥0.14 (vs CN¥0.15 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.14 (down from CN¥0.15 in 2Q 2022). Revenue: CN¥853.1m (down 13% from 2Q 2022). Net income: CN¥68.3m (down 5.4% from 2Q 2022). Profit margin: 8.0% (up from 7.4% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 26% per year. Announcement • Jun 13
Western Metal Materials Co., Ltd. Announces Final Profit Distribution Plan to Be Implemented on A Shares for the Year 2022, Payable on 16 June 2023 Western Metal Materials Co., Ltd. announced final profit distribution plan to be implemented on A shares as cash dividend per ten shares (tax included) of CNY 2.00000000 for the year 2022, payable on 16 June 2023. Record date is 15 June 2023. Ex-date is 16 June 2023. Board Change • May 03
High number of new directors There are 8 new directors who have joined the board in the last 3 years. GM & Non-Independent Director Yang Yanan was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: CN¥0.072 (vs CN¥0.043 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.072 (up from CN¥0.043 in 1Q 2022). Revenue: CN¥719.8m (up 48% from 1Q 2022). Net income: CN¥35.1m (up 67% from 1Q 2022). Profit margin: 4.9% (up from 4.3% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 35% per year whereas the company’s share price has increased by 36% per year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 7 non-independent directors. Non-Independent Director Jianfeng Li was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.086 (vs CN¥0.064 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.086 (up from CN¥0.064 in 3Q 2021). Revenue: CN¥694.8m (up 15% from 3Q 2021). Net income: CN¥41.9m (up 33% from 3Q 2021). Profit margin: 6.0% (up from 5.2% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Reported Earnings • Sep 02
Second quarter 2022 earnings released: EPS: CN¥0.15 (vs CN¥0.084 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.15 (up from CN¥0.084 in 2Q 2021). Revenue: CN¥981.1m (up 41% from 2Q 2021). Net income: CN¥72.2m (up 75% from 2Q 2021). Profit margin: 7.4% (up from 5.9% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • Jul 09
Western Metal Materials Co., Ltd. Announces Final Cash Dividend on A Shares for 2021, Payable on 14 July 2022 Western Metal Materials Co., Ltd. announced final cash dividend of CNY 1.00000000 per 10 shares on A shares for 2021. Record date: 13 July 2022, Ex-date: 14 July 2022 and Payment date: 14 July 2022. Announcement • Jun 29
Western Metal Materials Co., Ltd. Approves Director Appointments Western Metal Materials Co., Ltd. announced at the EGM held on June 27, 2022 election of Li Jianfeng and Zhang Yusheng as non-independent directors. Announcement • May 20
Western Metal Materials Co., Ltd. Approves 2021 Profit Distribution Plan Western Metal Materials Co., Ltd. approved 2021 profit distribution plan. The detailed profit distribution plan are as follows: 1) Cash dividend/10 shares (tax included): CNY 1.00000000. Reported Earnings • Apr 27
First quarter 2022 earnings released: EPS: CN¥0.043 (vs CN¥0.063 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.043 (down from CN¥0.063 in 1Q 2021). Revenue: CN¥486.3m (up 5.8% from 1Q 2021). Net income: CN¥21.0m (down 32% from 1Q 2021). Profit margin: 4.3% (down from 6.7% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Apr 16
Western Metal Materials Co., Ltd., Annual General Meeting, May 18, 2022 Western Metal Materials Co., Ltd., Annual General Meeting, May 18, 2022, at 14:30 China Standard Time. Agenda: To consider 2021 work report of the board of directors; to 2021 work report of the supervisory committee; to 2021 annual report and its summary; to 2021 annual accounts; to 2021 profit distribution plan; to 2022 estimated quota of continuing connected transactions; to Authorization to the chairman of the board to sign the contract on loans from financial institutions and the contract on financing with assets mortgage; to Provision of guarantee for controlled subsidiaries; to Reappointment of 2022 audit firm. Announcement • Apr 15
Western Metal Materials Co., Ltd. Proposes Cash Dividend for 2021 Western Metal Materials Co., Ltd. proposed cash dividend of CNY 1.00000000 (tax included) per 10 shares for 2021. Reported Earnings • Mar 28
Full year 2021 earnings released: EPS: CN¥0.28 (vs CN¥0.19 in FY 2020) Full year 2021 results: EPS: CN¥0.28 (up from CN¥0.19 in FY 2020). Revenue: CN¥2.38b (up 17% from FY 2020). Net income: CN¥136.0m (up 71% from FY 2020). Profit margin: 5.7% (up from 3.9% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorated over the past week After last week's 19% share price decline to CN¥12.00, the stock trades at a trailing P/E ratio of 40x. Average trailing P/E is 27x in the Metals and Mining industry in China. Total returns to shareholders of 35% over the past three years. Reported Earnings • Oct 27
Third quarter 2021 earnings released: EPS CN¥0.064 (vs CN¥0.051 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥602.7m (up 12% from 3Q 2020). Net income: CN¥31.4m (up 45% from 3Q 2020). Profit margin: 5.2% (up from 4.0% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥16.62, the stock trades at a trailing P/E ratio of 59.4x. Average trailing P/E is 30x in the Metals and Mining industry in China. Total returns to shareholders of 170% over the past three years. Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS CN¥0.084 (vs CN¥0.068 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥697.6m (up 16% from 2Q 2020). Net income: CN¥41.2m (up 42% from 2Q 2020). Profit margin: 5.9% (up from 4.8% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 12
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥20.30, the stock trades at a trailing P/E ratio of 72x. Average trailing P/E is 30x in the Metals and Mining industry in China. Total returns to shareholders of 214% over the past three years. Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥14.49, the stock trades at a trailing P/E ratio of 51.4x. Average trailing P/E is 29x in the Metals and Mining industry in China. Total returns to shareholders of 96% over the past three years. Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥17.07, the stock trades at a trailing P/E ratio of 60.5x. Average trailing P/E is 28x in the Metals and Mining industry in China. Total returns to shareholders of 146% over the past three years. Reported Earnings • May 02
First quarter 2021 earnings released: EPS CN¥0.063 (vs CN¥0.033 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥459.5m (up 49% from 1Q 2020). Net income: CN¥30.7m (up CN¥45.0m from 1Q 2020). Profit margin: 6.7% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 11% per year. Announcement • Apr 26
Western Metal Materials Co., Ltd. Approves Cash Dividend for the Year 2020 Western Metal Materials Co., Ltd. approved cash dividend per 10 shares (tax included) of CNY 1.50000000 for the year 2020, at its AGM held on 22 April 2021. Reported Earnings • Apr 03
Full year 2020 earnings released: EPS CN¥0.19 (vs CN¥0.14 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥2.03b (up 1.2% from FY 2019). Net income: CN¥79.4m (up 29% from FY 2019). Profit margin: 3.9% (up from 3.1% in FY 2019). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 18
Full year 2020 earnings released: EPS CN¥0.19 (vs CN¥0.14 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥2.03b (up 1.4% from FY 2019). Net income: CN¥79.2m (up 29% from FY 2019). Profit margin: 3.9% (up from 3.1% in FY 2019). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 25
Western Metal Materials Co., Ltd. to Report Fiscal Year 2020 Results on Mar 31, 2021 Western Metal Materials Co., Ltd. announced that they will report fiscal year 2020 results on Mar 31, 2021 Announcement • Feb 06
Western Metal Materials Co., Ltd. (SZSE:002149) agreed to acquire 10.926% stake in Western Titanium Industry Co., Ltd. from Beibing Technology Investment Co., Ltd. Western Metal Materials Co., Ltd. (SZSE:002149) agreed to acquire 10.926% stake in Western Titanium Industry Co., Ltd. from Beibing Technology Investment Co., Ltd on February 3, 2021. Western Titanium Industry Co., Ltd. reported total assets of CNY 1.7 billion, net assets of CNY 125.8 million and net profit of CNY 14.6 million as of September 30, 2020. The transaction has been approved in 10th meeting of the seventh directorate held on February 3, 2021. Is New 90 Day High Low • Dec 23
New 90-day high: CN¥15.75 The company is up 106% from its price of CN¥7.65 on 24 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 9.0% over the same period. Is New 90 Day High Low • Dec 04
New 90-day high: CN¥11.76 The company is up 50% from its price of CN¥7.84 on 04 September 2020. The Chinese market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 5.0% over the same period. Valuation Update With 7 Day Price Move • Nov 17
Market bids up stock over the past week After last week's 18% share price gain to CN¥10.35, the stock is trading at a trailing P/E ratio of 77.7x, up from the previous P/E ratio of 66.1x. This compares to an average P/E of 34x in the Metals and Mining industry in China. Total returns to shareholders over the past three years are 4.5%. Is New 90 Day High Low • Nov 09
New 90-day high: CN¥9.01 The company is up 11% from its price of CN¥8.14 on 11 August 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 5.0% over the same period. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥56.7m, down 12% from the prior year. Total revenue was CN¥1.97b over the last 12 months, down 3.1% from the prior year. Is New 90 Day High Low • Oct 22
New 90-day high: CN¥8.60 The company is up 11% from its price of CN¥7.78 on 24 July 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 5.0% over the same period. Announcement • Oct 19
Western Metal Materials Co., Ltd. to Report Q3, 2020 Results on Oct 26, 2020 Western Metal Materials Co., Ltd. announced that they will report Q3, 2020 results on Oct 26, 2020 Announcement • Aug 11
Western Metal Materials Co., Ltd. to Report First Half, 2020 Results on Aug 27, 2020 Western Metal Materials Co., Ltd. announced that they will report first half, 2020 results on Aug 27, 2020 
