Declared Dividend • Jun 22
Dividend of CN¥0.08 announced Dividend of CN¥0.08 is the same as last year. Ex-date: 25th June 2026 Payment date: 25th June 2026 Dividend yield will be 1.0%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (64% earnings payout ratio) but not covered by cash flows (267% cash payout ratio). The dividend has increased by an average of 9.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 28% to shift the payout ratio to a potentially unsustainable range, which is more than the 18% EPS decline seen over the last 5 years. New Risk • May 16
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 41% 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 14% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (267% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.1% net profit margin). Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. Deputy GM, CFO & Director Yuling Li was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 24
First quarter 2026 earnings released: CN¥0.11 loss per share (vs CN¥0.072 loss in 1Q 2025) First quarter 2026 results: CN¥0.11 loss per share (further deteriorated from CN¥0.072 loss in 1Q 2025). Revenue: CN¥126.5m (down 8.3% from 1Q 2025). Net loss: CN¥53.3m (loss widened 55% from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Apr 24
Newcapec Electronics Co., Ltd., Annual General Meeting, May 15, 2026 Newcapec Electronics Co., Ltd., Annual General Meeting, May 15, 2026, at 09:30 China Standard Time. Location: No. 18, Yingchun Street, High-tech Industrial Development Zone, Zhengzhou, Henan China Announcement • Mar 31
Newcapec Electronics Co., Ltd. to Report Q1, 2026 Results on Apr 24, 2026 Newcapec Electronics Co., Ltd. announced that they will report Q1, 2026 results on Apr 24, 2026 New Risk • Jan 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 7.1% 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 12% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.1% average weekly change). Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥15.20, the stock trades at a trailing P/E ratio of 75.7x. Average trailing P/E is 58x in the Electronic industry in China. Total returns to shareholders of 72% over the past three years. Announcement • Dec 31
Newcapec Electronics Co., Ltd. to Report Fiscal Year 2025 Results on Apr 24, 2026 Newcapec Electronics Co., Ltd. announced that they will report fiscal year 2025 results on Apr 24, 2026 Buy Or Sell Opportunity • Dec 19
Now 22% overvalued Over the last 90 days, the stock has fallen 5.3% to CN¥12.45. The fair value is estimated to be CN¥10.22, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.7% over the last 3 years. Earnings per share has declined by 6.8%. Buy Or Sell Opportunity • Nov 13
Now 20% overvalued Over the last 90 days, the stock has fallen 18% to CN¥12.27. The fair value is estimated to be CN¥10.21, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.7% over the last 3 years. Earnings per share has declined by 6.8%. Reported Earnings • Oct 29
Third quarter 2025 earnings released: EPS: CN¥0.057 (vs CN¥0.062 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.057 (down from CN¥0.062 in 3Q 2024). Revenue: CN¥242.1m (up 4.9% from 3Q 2024). Net income: CN¥27.0m (down 9.1% from 3Q 2024). Profit margin: 11% (down from 13% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Sep 30
Newcapec Electronics Co., Ltd. to Report Q3, 2025 Results on Oct 29, 2025 Newcapec Electronics Co., Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥16.27, the stock trades at a trailing P/E ratio of 78.6x. Average trailing P/E is 52x in the Electronic industry in China. Total returns to shareholders of 90% over the past three years. Announcement • Jul 02
Newcapec Electronics Co., Ltd. to Report First Half, 2025 Results on Aug 29, 2025 Newcapec Electronics Co., Ltd. announced that they will report first half, 2025 results on Aug 29, 2025 Announcement • Apr 25
Newcapec Electronics Co., Ltd. Proposes Final Cash Dividend for 2024 Newcapec Electronics Co., Ltd. proposed final cash dividend of CNY 0.80000000 per 10 shares (tax included) for 2024. Reported Earnings • Apr 24
First quarter 2025 earnings released: CN¥0.072 loss per share (vs CN¥0.048 loss in 1Q 2024) First quarter 2025 results: CN¥0.072 loss per share (further deteriorated from CN¥0.048 loss in 1Q 2024). Revenue: CN¥138.0m (down 16% from 1Q 2024). Net loss: CN¥34.4m (loss widened 51% from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Announcement • Apr 24
Newcapec Electronics Co., Ltd., Annual General Meeting, May 15, 2025 Newcapec Electronics Co., Ltd., Annual General Meeting, May 15, 2025, at 09:30 China Standard Time. Location: No. 18, Yingchun Street, High-tech Industrial Development Zone, Zhengzhou, Henan China Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥14.60, the stock trades at a trailing P/E ratio of 61.2x. Average trailing P/E is 45x in the Electronic industry in China. Total returns to shareholders of 33% over the past three years. Announcement • Mar 31
Newcapec Electronics Co., Ltd. to Report Q1, 2025 Results on Apr 24, 2025 Newcapec Electronics Co., Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025 Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥16.31, the stock trades at a trailing P/E ratio of 68.4x. Average trailing P/E is 50x in the Electronic industry in China. Total returns to shareholders of 18% over the past three years. Buy Or Sell Opportunity • Mar 07
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 39% to CN¥16.75. The fair value is estimated to be CN¥13.71, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 13%. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥13.96, the stock trades at a trailing P/E ratio of 58.5x. Average trailing P/E is 52x in the Electronic industry in China. Total returns to shareholders of 16% over the past three years. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥11.43, the stock trades at a trailing P/E ratio of 47.9x. Average trailing P/E is 48x in the Electronic industry in China. Total loss to shareholders of 20% over the past three years. Announcement • Dec 31
Newcapec Electronics Co., Ltd. to Report Fiscal Year 2024 Results on Apr 24, 2025 Newcapec Electronics Co., Ltd. announced that they will report fiscal year 2024 results on Apr 24, 2025 Buy Or Sell Opportunity • Dec 13
Now 20% undervalued Over the last 90 days, the stock has risen 73% to CN¥11.51. The fair value is estimated to be CN¥14.44, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 13%. New Risk • Nov 19
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 13% 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 (13% average weekly change). Earnings have declined by 9.8% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Buy Or Sell Opportunity • Nov 18
Now 26% undervalued Over the last 90 days, the stock has risen 64% to CN¥10.73. The fair value is estimated to be CN¥14.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 13%. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥11.33, the stock trades at a trailing P/E ratio of 47.5x. Average trailing P/E is 47x in the Electronic industry in China. Total returns to shareholders of 7.6% over the past three years. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.062 (vs CN¥0.046 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.062 (up from CN¥0.046 in 3Q 2023). Revenue: CN¥230.9m (down 3.2% from 3Q 2023). Net income: CN¥29.7m (up 36% from 3Q 2023). Profit margin: 13% (up from 9.2% in 3Q 2023). 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 10% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Oct 29
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 47% to CN¥9.62. The fair value is estimated to be CN¥7.92, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.8% over the last 3 years. Earnings per share has declined by 15%. Announcement • Sep 30
Newcapec Electronics Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Newcapec Electronics Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to CN¥9.04, the stock trades at a trailing P/E ratio of 40.7x. Average trailing P/E is 38x in the Electronic industry in China. Total returns to shareholders of 19% over the past three years. Announcement • Jun 29
Newcapec Electronics Co., Ltd. to Report First Half, 2024 Results on Aug 30, 2024 Newcapec Electronics Co., Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Declared Dividend • May 25
Dividend of CN¥0.08 announced Shareholders will receive a dividend of CN¥0.08. Ex-date: 29th May 2024 Payment date: 29th May 2024 Dividend yield will be 1.2%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (24% 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 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 73% to shift the payout ratio to a potentially unsustainable range, which is more than the 1.6% EPS decline seen over the last 5 years. Announcement • May 25
Newcapec Electronics Co., Ltd. Announces Final Cash Dividend for the Year 2023, Payable on 29 May 2024 Newcapec Electronics Co., Ltd. announced a final cash dividend/10 shares (tax included) of CNY 0.80000000 on A shares for the year 2023. Record date is 28 May 2024. Ex-date is 29 May 2024. Payment date is 29 May 2024. New Risk • May 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 30% 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 5.6% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Announcement • Apr 28
Newcapec Electronics Co., Ltd., Annual General Meeting, May 17, 2024 Newcapec Electronics Co., Ltd., Annual General Meeting, May 17, 2024, at 09:30 China Standard Time. Location: No. 18, Yingchun Street, High-tech Industrial Development Zone, Zhengzhou, Henan China Agenda: To consider 2023 work report of the board of directors; to consider 2023 work report of the supervisory committee; to consider 2023 annual accounts; to consider 2023 audit report; to consider 2023 annual report and its summary; to consider 2023 profit distribution plan; to consider 2024 remuneration policy for directors; to consider 2024 remuneration policy for supervisors; to consider amendments to the Company's articles of association; to consider reappointment of 2024 audit firm; to consider 2024 application for comprehensive credit line to banks; to consider 2023 provision for assets impairment and write-off of assets; to consider cash management with temporarily idle raised funds; and to consider cash management with some idle proprietary funds. Reported Earnings • Apr 27
Full year 2023 earnings released: EPS: CN¥0.23 (vs CN¥0.24 in FY 2022) Full year 2023 results: EPS: CN¥0.23 (down from CN¥0.24 in FY 2022). Revenue: CN¥1.06b (flat on FY 2022). Net income: CN¥107.5m (down 4.4% from FY 2022). Profit margin: 10% (in line with FY 2022). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Apr 27
Newcapec Electronics Co., Ltd. Proposes Final Cash Dividend for the Year 2023 Newcapec Electronics Co., Ltd. announced on 26 April 2024 the profit distribution proposal for 2023 as follows: Cash dividend/10 shares (tax included): CNY 0.80000000. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥6.51, the stock trades at a trailing P/E ratio of 24.3x. Average trailing P/E is 37x in the Electronic industry in China. Total loss to shareholders of 33% over the past three years. Announcement • Mar 30
Newcapec Electronics Co., Ltd. to Report Q1, 2024 Results on Apr 26, 2024 Newcapec Electronics Co., Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥7.69, the stock trades at a trailing P/E ratio of 28.7x. Average trailing P/E is 35x in the Electronic industry in China. Total loss to shareholders of 5.3% over the past three years. 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 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: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.1% average weekly change). 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¥6.91, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 34x in the Electronic industry in China. Total loss to shareholders of 6.7% over the past three years. Announcement • Dec 29
Newcapec Electronics Co., Ltd. to Report Fiscal Year 2023 Results on Apr 26, 2024 Newcapec Electronics Co., Ltd. announced that they will report fiscal year 2023 results on Apr 26, 2024 Reported Earnings • Oct 30
Third quarter 2023 earnings released: EPS: CN¥0.046 (vs CN¥0.037 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.046 (up from CN¥0.037 in 3Q 2022). Revenue: CN¥238.5m (down 2.6% from 3Q 2022). Net income: CN¥21.9m (up 25% from 3Q 2022). Profit margin: 9.2% (up from 7.1% in 3Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
Newcapec Electronics Co., Ltd. to Report Q3, 2023 Results on Oct 27, 2023 Newcapec Electronics Co., Ltd. announced that they will report Q3, 2023 results on Oct 27, 2023 Reported Earnings • Aug 31
Second quarter 2023 earnings released: CN¥0.005 loss per share (vs CN¥0.022 loss in 2Q 2022) Second quarter 2023 results: CN¥0.005 loss per share (improved from CN¥0.022 loss in 2Q 2022). Revenue: CN¥178.4m (up 1.8% from 2Q 2022). Net loss: CN¥2.42m (loss narrowed 76% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 14% per year. Announcement • May 20
Newcapec Electronics Co., Ltd. Approves Cash Dividend for the Year 2022 Newcapec Electronics Co., Ltd. announced at annual general meeting held on May 18, 2023, the shareholders approved cash dividend of CNY 0.650000000 per ten shares (tax included) for the year 2022. Reported Earnings • Apr 28
First quarter 2023 earnings released: CN¥0.032 loss per share (vs CN¥0.037 loss in 1Q 2022) First quarter 2023 results: CN¥0.032 loss per share (improved from CN¥0.037 loss in 1Q 2022). Revenue: CN¥157.5m (down 7.1% from 1Q 2022). Net loss: CN¥15.2m (loss narrowed 16% from 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to CN¥9.54, the stock trades at a trailing P/E ratio of 38.6x. Average trailing P/E is 38x in the Electronic industry in China. Total loss to shareholders of 16% over the past three years. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥12.93, the stock trades at a trailing P/E ratio of 52.3x. Average trailing P/E is 40x in the Electronic industry in China. Total returns to shareholders of 33% over the past three years. Board Change • Nov 16
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 3 experienced directors. No highly experienced directors. Non-Employee Supervisor Zhenya Chen is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: CN¥0.037 (vs CN¥0.055 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.037 (down from CN¥0.055 in 3Q 2021). Revenue: CN¥244.9m (up 17% from 3Q 2021). Net income: CN¥17.5m (down 34% from 3Q 2021). Profit margin: 7.1% (down from 13% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improved over the past week After last week's 23% share price gain to CN¥8.90, the stock trades at a trailing P/E ratio of 33.5x. Average trailing P/E is 32x in the Electronic industry in China. Total returns to shareholders of 8.2% over the past three years. Reported Earnings • Aug 26
Second quarter 2022 earnings released: CN¥0.022 loss per share (vs CN¥0.029 profit in 2Q 2021) Second quarter 2022 results: CN¥0.022 loss per share (down from CN¥0.029 profit in 2Q 2021). Revenue: CN¥175.3m (flat on 2Q 2021). Net loss: CN¥10.2m (down 175% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 5% per year. Board Change • Apr 27
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 3 experienced directors. No highly experienced directors. Non-Employee Supervisor Zhenya Chen is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Apr 26
Newcapec Electronics Co., Ltd. Announces Profit Distribution Proposal for 2021 Newcapec Electronics Co., Ltd. announced on 25 April 2022 the profit distribution proposal for 2021 as follows: Cash dividend/10 shares (tax included): CNY 0.65000000. Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥11.00, the stock trades at a trailing P/E ratio of 35.9x. Average trailing P/E is 31x in the Electronic industry in China. Total returns to shareholders of 21% over the past three years. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥15.02, the stock trades at a trailing P/E ratio of 49x. Average trailing P/E is 35x in the Electronic industry in China. Total returns to shareholders of 51% over the past three years. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥14.22, the stock trades at a trailing P/E ratio of 46.4x. Average trailing P/E is 35x in the Electronic industry in China. Total returns to shareholders of 50% over the past three years. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥17.20, the stock trades at a trailing P/E ratio of 56.1x. Average trailing P/E is 40x in the Electronic industry in China. Total returns to shareholders of 141% over the past three years. Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥15.52, the stock trades at a trailing P/E ratio of 50.6x. Average trailing P/E is 41x in the Electronic industry in China. Total returns to shareholders of 132% over the past three years. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥12.34, the stock trades at a trailing P/E ratio of 40.2x. Average trailing P/E is 42x in the Electronic industry in China. Total returns to shareholders of 86% over the past three years. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.055 (vs CN¥0.079 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥209.1m (up 5.9% from 3Q 2020). Net income: CN¥26.3m (down 31% from 3Q 2020). Profit margin: 13% (down from 19% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 14% per year. Valuation Update With 7 Day Price Move • Sep 10
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥9.02, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 29x in the Electronic industry in China. Total returns to shareholders of 65% over the past three years. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS CN¥0.029 (vs CN¥0.047 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¥174.8m (up 12% from 2Q 2020). Net income: CN¥13.6m (down 28% from 2Q 2020). Profit margin: 7.8% (down from 12% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • May 21
Newcapec Electronics Co., Ltd. Approves Final Dividend for the Year 2020 Newcapec Electronics Co., Ltd. at the AGM held on May 18, 2021, approved final dividend for the year 2020 for 10 shares (tax included) of CNY 0.60000000. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥10.93, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 23x in the Electronic industry in China. Total returns to shareholders of 39% over the past three years. Announcement • Apr 27
Newcapec Electronics Co., Ltd. Proposes Final Dividend for the Year 2020 Proposes Final Dividend for the Year 2020 Newcapec Electronics Co., Ltd. Proposed Final Dividend for the year 2020 proposed cash dividend/10 shares (tax included) of CNY 0.60000000 for the year 2020. Reported Earnings • Apr 26
Full year 2020 earnings released: EPS CN¥0.38 (vs CN¥0.33 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CN¥939.3m (down 2.6% from FY 2019). Net income: CN¥181.9m (up 15% from FY 2019). Profit margin: 19% (up from 16% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥7.77, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 25x in the Electronic industry in China. Total loss to shareholders of 8.0% over the past three years. Reported Earnings • Mar 04
Full year 2020 earnings released: EPS CN¥0.39 (vs CN¥0.33 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CN¥943.7m (down 2.1% from FY 2019). Net income: CN¥185.1m (up 17% from FY 2019). Profit margin: 20% (up from 16% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Mar 04
Revenue and earnings miss expectations Revenue missed analyst estimates by 16%. Earnings per share (EPS) also missed analyst estimates by 8.0%. Over the next year, revenue is forecast to grow 43%, compared to a 31% growth forecast for the Electronic industry in China. Is New 90 Day High Low • Feb 04
New 90-day low: CN¥7.55 The company is down 33% from its price of CN¥11.22 on 06 November 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥69.08 per share. Is New 90 Day High Low • Jan 12
New 90-day low: CN¥7.88 The company is down 44% from its price of CN¥14.06 on 14 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 Electronic industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥69.27 per share. Is New 90 Day High Low • Dec 24
New 90-day low: CN¥8.99 The company is down 35% from its price of CN¥13.91 on 25 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 Electronic industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥69.53 per share. Is New 90 Day High Low • Dec 09
New 90-day low: CN¥10.24 The company is down 31% from its price of CN¥14.89 on 10 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 Electronic industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥58.01 per share. Is New 90 Day High Low • Nov 16
New 90-day low: CN¥10.86 The company is down 25% from its price of CN¥14.39 on 18 August 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥59.53 per share. Valuation Update With 7 Day Price Move • Nov 03
Market pulls back on stock over the past week After last week's 16% share price decline to CN¥12.13, the stock is trading at a trailing P/E ratio of 33.8x, down from the previous P/E ratio of 40.3x. This compares to an average P/E of 45x in the Electronic industry in China. Total returns to shareholders over the past three years are 23%.