Declared Dividend • May 21
Dividend of CN¥0.28 announced Shareholders will receive a dividend of CN¥0.28. Ex-date: 25th May 2026 Payment date: 25th May 2026 Dividend yield will be 0.1%, which is lower than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (50% 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 36 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 45% to shift the payout ratio to a potentially unsustainable range, which is more than the 32% EPS decline seen over the last 3 years. Board Change • May 20
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Ge Yang was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Dec 31
PowerTECH Co., Ltd. to Report Fiscal Year 2025 Results on Mar 31, 2026 PowerTECH Co., Ltd. announced that they will report fiscal year 2025 results on Mar 31, 2026 Announcement • Sep 30
PowerTECH Co., Ltd. to Report Q3, 2025 Results on Oct 25, 2025 PowerTECH Co., Ltd. announced that they will report Q3, 2025 results on Oct 25, 2025 Announcement • Sep 27
Powertech Co., Ltd. Approves the Interim Profit Distribution Plan for 2025 PowerTECH Co., Ltd. in the 3rd egm of 2025 held on September 25, 2205 approved the Interim profit distribution plan for 2025. The company reported Cash dividend/10 shares (tax included): CNY1.50000000. Announcement • Aug 27
Powertech Co., Ltd. Proposes Interim Cash Dividend for 2025 PowerTECH Co., Ltd. at its 3rd Extraordinary General Meeting of 2025 to be held on 25 September 2025 proposed 2025 interim profit distribution plan of Cash dividend/10 shares (tax included): of CNY 1.50000000. Announcement • Jul 02
PowerTECH Co., Ltd. to Report First Half, 2025 Results on Aug 26, 2025 PowerTECH Co., Ltd. announced that they will report first half, 2025 results on Aug 26, 2025 Announcement • Apr 19
PowerTECH Co., Ltd. Proposes Final Cash Dividend for 2024 PowerTECH Co., Ltd. proposed final cash dividend of CNY 2.60000000 per 10 shares (tax included) for 2024. Announcement • Apr 18
PowerTECH Co., Ltd., Annual General Meeting, May 13, 2025 PowerTECH Co., Ltd., Annual General Meeting, May 13, 2025, at 14:30 China Standard Time. Location: The Company's Meeting Room, Foshan, Guangdong China Announcement • Mar 31
PowerTECH Co., Ltd. to Report Q1, 2025 Results on Apr 25, 2025 PowerTECH Co., Ltd. announced that they will report Q1, 2025 results on Apr 25, 2025 Announcement • Dec 31
PowerTECH Co., Ltd. to Report Fiscal Year 2024 Results on Apr 18, 2025 PowerTECH Co., Ltd. announced that they will report fiscal year 2024 results on Apr 18, 2025 Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.18 (vs CN¥0.062 loss in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.18 (up from CN¥0.062 loss in 3Q 2023). Revenue: CN¥88.5m (up 64% from 3Q 2023). Net income: CN¥12.4m (up CN¥17.0m from 3Q 2023). Profit margin: 14% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Announcement • Sep 30
PowerTECH Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 PowerTECH Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 New Risk • Sep 17
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% 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 Share price has been highly volatile over the past 3 months (9.6% average weekly change). Earnings have declined by 12% per year over the past 5 years. High level of non-cash earnings (21% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (3.3% net profit margin). Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: CN¥0.084 (vs CN¥0.22 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.084 (down from CN¥0.22 in 2Q 2023). Revenue: CN¥78.8m (up 9.8% from 2Q 2023). Net income: CN¥6.10m (down 65% from 2Q 2023). Profit margin: 7.7% (down from 25% in 2Q 2023). The decrease in margin was driven by higher expenses. Announcement • Jun 29
PowerTECH Co., Ltd. to Report First Half, 2024 Results on Aug 29, 2024 PowerTECH Co., Ltd. announced that they will report first half, 2024 results on Aug 29, 2024 Announcement • May 29
PowerTECH Co., Ltd. Announces Final Cash Dividend on A Shares for the Year 2023, Payable on 31 May 2024 PowerTECH Co., Ltd. announced final cash dividend of CNY 1.80 per 10 shares (tax included) on A shares for the year 2023. Record date is 30 May 2024, Ex-date is 31 May 2024 and Payment date is 31 May 2024. Announcement • Apr 28
PowerTECH Co., Ltd., Annual General Meeting, May 21, 2024 PowerTECH Co., Ltd., Annual General Meeting, May 21, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Foshan, Guangdong China Agenda: To consider the 2023 work report of the board of directors; to consider the 2023 work report of the supervisory committee; to consider the 2023 annual accounts report; to consider the 2023 annual report and its summary; to consider the 2023 profit distribution plan; to consider the 2024 remuneration plan for non-independent directors; to consider the 2024 allowance for independent directors; to consider the 2024 remuneration plan for supervisors; to consider the reappointment of 2024 audit firm; to consider the change of the Company's registered capital, amendments to the Company's articles of association, and handling the industrial and commercial registration amendment; and to consider the other matters. Reported Earnings • Apr 27
First quarter 2024 earnings released: CN¥0.05 loss per share (vs CN¥0.02 profit in 1Q 2023) First quarter 2024 results: CN¥0.05 loss per share (down from CN¥0.02 profit in 1Q 2023). Revenue: CN¥57.6m (up 35% from 1Q 2023). Net loss: CN¥3.32m (down 373% from profit in 1Q 2023). Announcement • Apr 27
PowerTECH Co., Ltd. Proposes Final Cash Dividend for 2023 PowerTECH Co., Ltd. announced on 26 April 2024 the final profit distribution proposal for 2023: cash dividend/10 shares (tax included) of CNY 1.80000000. 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¥43.58, the stock trades at a trailing P/E ratio of 79.7x. Average trailing P/E is 51x in the Semiconductor industry in China. Announcement • Mar 30
PowerTECH Co., Ltd. to Report Q1, 2024 Results on Apr 26, 2024 PowerTECH Co., Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 New Risk • Feb 08
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 7.6% 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: 402% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Profit margins are more than 30% lower than last year (15% net profit margin). Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥40.53, the stock trades at a trailing P/E ratio of 73.1x. Average trailing P/E is 48x in the Semiconductor industry in China. Announcement • Dec 30
PowerTECH Co., Ltd. to Report Fiscal Year 2023 Results on Apr 26, 2024 PowerTECH Co., Ltd. announced that they will report fiscal year 2023 results on Apr 26, 2024 Reported Earnings • Oct 27
Third quarter 2023 earnings released: CN¥0.062 loss per share (vs CN¥0.39 profit in 3Q 2022) Third quarter 2023 results: CN¥0.062 loss per share (down from CN¥0.39 profit in 3Q 2022). Revenue: CN¥54.0m (down 29% from 3Q 2022). Net loss: CN¥4.59m (down 117% from profit in 3Q 2022). Announcement • Sep 30
PowerTECH Co., Ltd. to Report Q3, 2023 Results on Oct 27, 2023 PowerTECH Co., Ltd. announced that they will report Q3, 2023 results on Oct 27, 2023 New Risk • Aug 16
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: 26% Last year net profit margin: 40% 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: 230% Cash payout ratio: 318% Minor Risks Share price has been volatile over the past 3 months (7.7% average weekly change). Profit margins are more than 30% lower than last year (26% net profit margin). Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: CN¥0.22 (vs CN¥3.02 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.22 (down from CN¥3.02 in 2Q 2022). Revenue: CN¥71.8m (down 44% from 2Q 2022). Net income: CN¥17.6m (down 67% from 2Q 2022). Profit margin: 25% (down from 42% in 2Q 2022). The decrease in margin was driven by lower revenue. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥87.67, the stock trades at a trailing P/E ratio of 57.8x. Average trailing P/E is 69x in the Semiconductor industry in China. Announcement • Jul 01
PowerTECH Co., Ltd. to Report First Half, 2023 Results on Aug 15, 2023 PowerTECH Co., Ltd. announced that they will report first half, 2023 results on Aug 15, 2023 Board Change • Jun 20
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 new directors. 3 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). General Manager & Director Junling Zheng is the most experienced director on the board, commencing their role in 2019. Independent Director Bo Zhang was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. 
