New Risk • May 21
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 8.1% 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 38% 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 (8.1% average weekly change). Reported Earnings • Apr 29
Full year 2025 earnings released: EPS: CN¥0.33 (vs CN¥0.18 in FY 2024) Full year 2025 results: EPS: CN¥0.33 (up from CN¥0.18 in FY 2024). Revenue: CN¥428.9m (up 1.5% from FY 2024). Net income: CN¥43.1m (up 89% from FY 2024). Profit margin: 10.0% (up from 5.4% in FY 2024). Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Apr 29
Zhejiang MTCN Technology Co.,Ltd., Annual General Meeting, May 20, 2026 Zhejiang MTCN Technology Co.,Ltd., Annual General Meeting, May 20, 2026, at 15:00 China Standard Time. Location: The Company's Meeting Room, Huzhou, Zhejiang China Announcement • Mar 31
Zhejiang MTCN Technology Co.,Ltd. to Report Q1, 2026 Results on Apr 29, 2026 Zhejiang MTCN Technology Co.,Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026 Announcement • Dec 31
Zhejiang MTCN Technology Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 29, 2026 Zhejiang MTCN Technology Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 29, 2026 Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: CN¥0.061 (vs CN¥0.032 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.061 (up from CN¥0.032 in 3Q 2024). Revenue: CN¥103.4m (up 3.5% from 3Q 2024). Net income: CN¥8.33m (up 258% from 3Q 2024). Profit margin: 8.1% (up from 2.3% in 3Q 2024). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Zhejiang MTCN Technology Co.,Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Zhejiang MTCN Technology Co.,Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 New Risk • Sep 09
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 0.4% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining 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 Earnings have declined by 55% 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. Large one-off items impacting financial results. New Risk • Aug 26
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 23% 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 55% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Reported Earnings • Aug 24
Second quarter 2025 earnings released: EPS: CN¥0.16 (vs CN¥0.10 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.16 (up from CN¥0.10 in 2Q 2024). Revenue: CN¥117.2m (up 2.6% from 2Q 2024). Net income: CN¥18.7m (up 100% from 2Q 2024). Profit margin: 16% (up from 8.2% in 2Q 2024). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Jul 02
Zhejiang MTCN Technology Co.,Ltd. to Report First Half, 2025 Results on Aug 22, 2025 Zhejiang MTCN Technology Co.,Ltd. announced that they will report first half, 2025 results on Aug 22, 2025 Announcement • Apr 29
Zhejiang MTCN Technology Co.,Ltd., Annual General Meeting, May 20, 2025 Zhejiang MTCN Technology Co.,Ltd., Annual General Meeting, May 20, 2025, at 14:00 China Standard Time. Announcement • Mar 31
Zhejiang MTCN Technology Co.,Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Zhejiang MTCN Technology Co.,Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Announcement • Dec 31
Zhejiang MTCN Technology Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 29, 2025 Zhejiang MTCN Technology Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 29, 2025 Reported Earnings • Nov 05
Third quarter 2024 earnings released: EPS: CN¥0.032 (vs CN¥0.063 loss in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.032 (up from CN¥0.063 loss in 3Q 2023). Revenue: CN¥99.9m (up 14% from 3Q 2023). Net income: CN¥2.33m (up CN¥9.88m from 3Q 2023). Profit margin: 2.3% (up from net loss in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance. Announcement • Sep 30
Zhejiang MTCN Technology Co.,Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Zhejiang MTCN Technology Co.,Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 Announcement • Jun 29
Zhejiang MTCN Technology Co.,Ltd. to Report First Half, 2024 Results on Aug 31, 2024 Zhejiang MTCN Technology Co.,Ltd. announced that they will report first half, 2024 results on Aug 31, 2024 New Risk • May 13
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 30% per year over the past 5 years. Minor Risk Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Announcement • Apr 30
Zhejiang MTCN Technology Co.,Ltd., Annual General Meeting, May 20, 2024 Zhejiang MTCN Technology Co.,Ltd., Annual General Meeting, May 20, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Changxing, Zhejiang China Announcement • Mar 30
Zhejiang MTCN Technology Co.,Ltd. to Report Q1, 2024 Results on Apr 29, 2024 Zhejiang MTCN Technology Co.,Ltd. announced that they will report Q1, 2024 results on Apr 29, 2024 Announcement • Feb 08
Zhejiang MTCN Technology Co.,Ltd. (SZSE:003026) announces an Equity Buyback for CNY 20 million worth of its shares. Zhejiang MTCN Technology Co.,Ltd. (SZSE:003026) announces a share repurchase program. Under the program, the company will repurchase up to CNY 20 million worth of its shares. The repurchase price will not more than CNY 40 per Share. The repurchased shares will be used for ESOP or equity incentives. The repurchase period will be not more than 12 months. Announcement • Jan 18
MTCN Technology Announces Management Appointments The Extraordinary General Meeting of MTCN Technology held on 16 January 2024, has approved election of independent directors, cumulative voting system applicable: Shou Yongyi, independent director; Cai Haijing; Zheng Donghai, independent director. Election of non-employee supervisors, cumulative voting system applicable: Zheng Weiliang, non-employee supervisor; Jiang Weida, non-employee supervisor. Announcement • Dec 30
Zhejiang MTCN Technology Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 29, 2024 Zhejiang MTCN Technology Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 29, 2024 New Risk • Nov 28
New major risk - Revenue and earnings growth Earnings have declined by 30% 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 Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 30% per year over the past 5 years. Announcement • Jun 27
Zhejiang MTCN Technology Co.,Ltd. Announces Implementation of Final Profit Distribution on A Shares for 2022, Payable on 30 June 2023 Zhejiang MTCN Technology Co.,Ltd. announced 2022 final profit distribution plan to be implemented (A shares): Cash dividend per 10 shares (tax included) of CNY 2.00000000. Record date: 29 June 2023; Ex-date: 30 June 2023; Payment date: 30 June 2023. Announcement • May 24
Zhejiang MTCN Technology Co.,Ltd. Approves 2022 Profit Distribution Plan Zhejiang MTCN Technology Co.,Ltd. at its AGM held on 19 May 2023 approved 2022 profit distribution plan. Cash dividend/10 shares (tax included): CNY 2.00000000. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥42.24, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 40x in the Semiconductor industry in China. Total loss to shareholders of 6.0% over the past year. Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥53.76, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 35x in the Semiconductor industry in China. Total loss to shareholders of 30% over the past year. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥50.18, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 36x in the Semiconductor industry in China. Total loss to shareholders of 40% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥40.41 per share. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Buying Opportunity • Sep 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 31%. The fair value is estimated to be CN¥49.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last year. Earnings per share has declined by 39%. Revenue is forecast to grow by 86% in 2 years. Earnings is forecast to grow by 173% in the next 2 years. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥56.23, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 38x in the Semiconductor industry in China. Total loss to shareholders of 32% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥30.42 per share. Valuation Update With 7 Day Price Move • Jul 13
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥49.16, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 38x in the Semiconductor industry in China. Total loss to shareholders of 44% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥31.01 per share. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment improved over the past week After last week's 23% share price gain to CN¥55.07, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 34x in the Semiconductor industry in China. Total loss to shareholders of 41% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥28.57 per share. Announcement • May 27
Zhejiang Mtcn Technology Co.,Ltd Announces 2021 Final Profit Distribution Plan to Be Implemented (A Shares), Payable on June 1, 2022 Zhejiang mtcn Technology Co.,Ltd announced 2021 final profit distribution plan to be implemented (A shares), Payable on June 1, 2022. The company announced Cash dividend/10 shares (tax included) CNY 6.00000000. The record date is May 31, 2022 and ex-date is June 1, 2022. Announcement • May 19
Zhejiang mtcn Technology Co.,Ltd Approves 2021 Profit Distribution Plan Zhejiang mtcn Technology Co.,Ltd at its AGM held on 17 May 2022 approved 2021 profit distribution plan. Cash dividend/10 shares (tax included): CNY 6.00000000. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment deteriorated over the past week After last week's 19% share price decline to CN¥40.76, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 29x in the Semiconductor industry in China. Total loss to shareholders of 53% over the past year. Announcement • Apr 27
Zhejiang mtcn Technology Co.,Ltd Proposes Final Cash Dividend for 2021 Zhejiang mtcn Technology Co.,Ltd announced on 26 April 2022 the profit distribution proposal of final cash dividend per 10 shares (tax included) of CNY 6.00000000 for 2021. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Buying Opportunity • Jan 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be CN¥75.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last year. Earnings per share has grown by 36% over the last year. Announcement • May 22
Zhejiang mtcn Technology Co.,Ltd Approves Cash Dividend for 2020 Zhejiang mtcn Technology Co.,Ltd announced that at the AGM held on May 20, 2021, it has approved cash dividend of CNY 10 per 10 shares (tax included) for the year of 2020. Announcement • Apr 30
Zhejiang Mtcn Technology Co.,Ltd Proposes Final Dividend Zhejiang mtcn Technology Co.,Ltd proposes Final Dividend. The Company announced on 28 April 2021 the profit distribution proposal for 2020 as Cash dividend/10 shares (tax included): CNY 10.00000000. 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¥58.10, the stock trades at a trailing P/E ratio of 65.3x, down from the previous P/E ratio of 80.3x. Average P/E is 62x in the Semiconductor industry in China. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CN¥70.55, the stock is trading at a trailing P/E ratio of 79.3x, down from the previous P/E ratio of 100.6x. This compares to an average P/E of 64x in the Semiconductor industry in China.