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 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 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 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 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 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 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 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. 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 returns to shareholders of 2.8% over the past year. 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 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. 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. Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: CN¥0.075 (vs CN¥0.072 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.075 (up from CN¥0.072 in 1Q 2023). Revenue: CN¥704.9m (down 2.1% from 1Q 2023). Net income: CN¥36.7m (up 4.4% from 1Q 2023). Profit margin: 5.2% (up from 4.9% in 1Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Metals and Mining industry in China. 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 released: EPS: CN¥0.40 (vs CN¥0.38 in FY 2022) 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 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. 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 2.3% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥15.36 per share. Buy Or Sell Opportunity • Feb 05
Now 20% 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¥13.27, 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 03
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 11x in the Metals and Mining industry in China. Simply Wall St's valuation model estimates the intrinsic value at CN¥13.45 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. Simply Wall St's valuation model estimates the intrinsic value at CN¥14.04 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. 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. 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). Board Change • Mar 14
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. 
