New Risk • Jul 03
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 9.2% 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 21% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.2% average weekly change). Announcement • Jun 30
Sichuan Furong Technology Co., Ltd. to Report First Half, 2026 Results on Aug 29, 2026 Sichuan Furong Technology Co., Ltd. announced that they will report first half, 2026 results on Aug 29, 2026 Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥8.77, the stock trades at a trailing P/E ratio of 62.6x. Average trailing P/E is 34x in the Metals and Mining industry in China. Total returns to shareholders of 12% over the past three years. Declared Dividend • Jun 04
Dividend of CN¥0.11 announced Shareholders will receive a dividend of CN¥0.11. Ex-date: 9th June 2026 Payment date: 9th June 2026 Dividend yield will be 1.1%, which is lower than the industry average of 2.8%. Sustainability & Growth Dividend is covered by earnings (76% 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 increased by an average of 1.0% per year over the past 6 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 16% to shift the payout ratio to a potentially unsustainable range, which is similar to the EPS decline seen over the last 5 years. Board Change • May 20
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. 6 non-independent directors. Chairman of Supervisory Board Ting Ting Yuan was the last director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 25
Sichuan Furong Technology Co., Ltd., Annual General Meeting, May 15, 2026 Sichuan Furong Technology Co., Ltd., Annual General Meeting, May 15, 2026, at 14:00 China Standard Time. Location: No. 1, Songqi South Road, Luoyuan County, Fujian China Announcement • Mar 30
Sichuan Furong Technology Co., Ltd. to Report Q1, 2026 Results on Apr 25, 2026 Sichuan Furong Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 25, 2026 Announcement • Dec 26
Sichuan Furong Technology Co., Ltd. to Report Fiscal Year 2025 Results on Apr 25, 2026 Sichuan Furong Technology Co., Ltd. announced that they will report fiscal year 2025 results on Apr 25, 2026 Announcement • Sep 30
Sichuan Furong Technology Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Sichuan Furong Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Announcement • Jun 30
Sichuan Furong Technology Co., Ltd. to Report First Half, 2025 Results on Aug 28, 2025 Sichuan Furong Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Announcement • Apr 25
Sichuan Furong Technology Co., Ltd., Annual General Meeting, May 16, 2025 Sichuan Furong Technology Co., Ltd., Annual General Meeting, May 16, 2025, at 14:00 China Standard Time. Location: No. 518, Chongshuang Avenue 2nd Section, Chongzhou, Chengdu, Sichuan China Announcement • Mar 28
Sichuan Furong Technology Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Sichuan Furong Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Announcement • Dec 27
Sichuan Furong Technology Co., Ltd. to Report Fiscal Year 2024 Results on Apr 29, 2025 Sichuan Furong Technology Co., Ltd. announced that they will report fiscal year 2024 results on Apr 29, 2025 Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.051 (vs CN¥0.11 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.051 (down from CN¥0.11 in 3Q 2023). Revenue: CN¥690.0m (up 25% from 3Q 2023). Net income: CN¥37.8m (down 55% from 3Q 2023). Profit margin: 5.5% (down from 15% in 3Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 9.4% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥14.33, 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 102% over the past three years. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥13.39, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 14x in the Metals and Mining industry in China. Total returns to shareholders of 84% over the past three years. Announcement • Sep 30
Sichuan Furong Technology Co., Ltd. to Report Q3, 2024 Results on Oct 30, 2024 Sichuan Furong Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Reported Earnings • Aug 22
Second quarter 2024 earnings released: EPS: CN¥0.055 (vs CN¥0.10 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.055 (down from CN¥0.10 in 2Q 2023). Revenue: CN¥564.7m (up 26% from 2Q 2023). Net income: CN¥41.2m (down 46% from 2Q 2023). Profit margin: 7.3% (down from 17% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 32% p.a. on average during the next 2 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 fallen by 6% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Jun 28
Sichuan Furong Technology Co., Ltd. to Report First Half, 2024 Results on Aug 22, 2024 Sichuan Furong Technology Co., Ltd. announced that they will report first half, 2024 results on Aug 22, 2024 Announcement • Apr 26
Sichuan Furong Technology Co., Ltd., Annual General Meeting, May 16, 2024 Sichuan Furong Technology Co., Ltd., Annual General Meeting, May 16, 2024, at 13:00 China Standard Time. Location: No. 518, Chongshuang Avenue 2nd Section, Chongzhou, Chengdu, Sichuan China Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: CN¥0.093 (vs CN¥0.12 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.093 (down from CN¥0.12 in 1Q 2023). Revenue: CN¥477.8m (up 15% from 1Q 2023). Net income: CN¥63.2m (down 25% from 1Q 2023). Profit margin: 13% (down from 20% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 38% p.a. on average during the next 2 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 fallen by 1% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥16.33, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 15x in the Metals and Mining industry in China. Total returns to shareholders of 70% over the past three years. Announcement • Mar 30
Sichuan Furong Technology Co., Ltd. to Report Q1, 2024 Results on Apr 25, 2024 Sichuan Furong Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 25, 2024 Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to CN¥21.24, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 13x in the Metals and Mining industry in China. Total returns to shareholders of 126% over the past three years. Announcement • Mar 16
Sichuan Furong Technology Co., Ltd. (SHSE:603327) announces an Equity Buyback for CNY 70 million worth of its shares. Sichuan Furong Technology Co., Ltd. (SHSE:603327) announces a share repurchase program. Under the program, the company will repurchase up to CNY 70 million worth of its A common stock. The shares will be repurchased art a price of CNY 21 per share. The repurchases will be funded from its own funds. The purpose of the program is equity incentives, employee stock ownership plans, convertible bond conversion. The program will be valid for 12 months. Valuation Update With 7 Day Price Move • Feb 29
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥11.46, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Metals and Mining industry in China. Total returns to shareholders of 16% over the past three 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¥9.11, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 12x in the Metals and Mining industry in China. Total returns to shareholders of 3.7% over the past three years. Announcement • Dec 29
Sichuan Furong Technology Co., Ltd. to Report Fiscal Year 2023 Results on Apr 25, 2024 Sichuan Furong Technology Co., Ltd. announced that they will report fiscal year 2023 results on Apr 25, 2024 Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: CN¥0.13 (vs CN¥0.13 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.13 (down from CN¥0.13 in 3Q 2022). Revenue: CN¥552.9m (up 7.3% from 3Q 2022). Net income: CN¥84.5m (down 3.4% from 3Q 2022). Profit margin: 15% (down from 17% in 3Q 2022). Revenue is forecast to grow 47% p.a. on average during the next 2 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 6% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 26
Second quarter 2023 earnings released: EPS: CN¥0.11 (vs CN¥0.21 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.11 (down from CN¥0.21 in 2Q 2022). Revenue: CN¥449.7m (down 14% from 2Q 2022). Net income: CN¥76.8m (down 47% from 2Q 2022). Profit margin: 17% (down from 27% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 39% p.a. on average during the next 2 years, compared to a 11% 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 fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 26
First quarter 2023 earnings released: EPS: CN¥0.16 (vs CN¥0.18 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.16 (down from CN¥0.18 in 1Q 2022). Revenue: CN¥417.0m (down 33% from 1Q 2022). Net income: CN¥83.8m (down 13% from 1Q 2022). Profit margin: 20% (up from 16% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 35% p.a. on average during the next 2 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 11% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 8 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Jirong Hu was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.17 (vs CN¥0.18 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.17 (down from CN¥0.18 in 3Q 2021). Revenue: CN¥515.3m (down 7.5% from 3Q 2021). Net income: CN¥87.4m (down 5.5% from 3Q 2021). Profit margin: 17% (in line with 3Q 2021). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 27
Second quarter 2022 earnings released: EPS: CN¥0.28 (vs CN¥0.11 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.28 (up from CN¥0.11 in 2Q 2021). Revenue: CN¥525.6m (up 48% from 2Q 2021). Net income: CN¥143.9m (up 159% from 2Q 2021). Profit margin: 27% (up from 16% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 26%, compared to a 30% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥19.55, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 15x in the Metals and Mining industry in China. Total returns to shareholders of 71% over the past year. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥16.31, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 14x in the Metals and Mining industry in China. Total returns to shareholders of 50% over the past year. Valuation Update With 7 Day Price Move • May 24
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥16.95, the stock trades at a trailing P/E ratio of 21.5x. Average trailing P/E is 27x in the Metals and Mining industry in China. Total returns to shareholders of 16% over the past year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Jirong Hu was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 31
Full year 2021 earnings released: EPS: CN¥0.73 (vs CN¥0.79 in FY 2020) Full year 2021 results: EPS: CN¥0.73 (down from CN¥0.79 in FY 2020). Revenue: CN¥1.93b (up 17% from FY 2020). Net income: CN¥293.2m (down 7.7% from FY 2020). Profit margin: 15% (down from 19% in FY 2020). The decrease in margin was driven by higher expenses. Board Change • Mar 04
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Jirong Hu was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.23 (vs CN¥0.27 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥557.2m (down 1.3% from 3Q 2020). Net income: CN¥92.5m (down 15% from 3Q 2020). Profit margin: 17% (down from 19% in 3Q 2020). The decrease in margin was primarily driven by higher expenses. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS CN¥0.14 (vs CN¥0.14 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥354.2m (up 12% from 2Q 2020). Net income: CN¥55.5m (down 4.1% from 2Q 2020). Profit margin: 16% (down from 18% in 2Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Apr 16
First quarter 2021 earnings released: EPS CN¥0.18 (vs CN¥0.22 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: CN¥422.3m (up 30% from 1Q 2020). Net income: CN¥72.6m (down 17% from 1Q 2020). Profit margin: 17% (down from 27% in 1Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Mar 25
Full year 2020 earnings released: EPS CN¥0.79 (vs CN¥0.69 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: CN¥1.65b (up 27% from FY 2019). Net income: CN¥317.7m (up 21% from FY 2019). Profit margin: 19% (down from 20% in FY 2019). The decrease in margin was driven by higher expenses. Is New 90 Day High Low • Jan 28
New 90-day low: CN¥17.80 The company is down 27% from its price of CN¥24.29 on 30 October 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 19% over the same period. Is New 90 Day High Low • Jan 12
New 90-day low: CN¥18.78 The company is down 25% from its price of CN¥24.89 on 15 October 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 13% over the same period. Is New 90 Day High Low • Dec 28
New 90-day low: CN¥18.95 The company is down 21% from its price of CN¥23.98 on 30 September 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 18% over the same period. Is New 90 Day High Low • Dec 09
New 90-day low: CN¥23.91 The company is down 4.0% from its price of CN¥24.85 on 11 September 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 7.0% over the same period. Reported Earnings • Oct 22
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥305.9m, up 24% from the prior year. Total revenue was CN¥1.57b over the last 12 months, up 33% from the prior year. Is New 90 Day High Low • Sep 24
New 90-day low: CN¥23.93 The company is down 7.0% from its price of CN¥25.68 on 24 June 2020. The Chinese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 9.0% over the same period. 
