New Risk • May 21
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: 0.6% 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: 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. Profit margins are more than 30% lower than last year (2.2% net profit margin). Board Change • May 20
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 6 new directors. 3 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Hanhong Sun is the most experienced director on the board, commencing their role in 2020. Independent Director Junyong Liu was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Apr 29
Tsinghua Tongfang Co., Ltd., Annual General Meeting, May 21, 2026 Tsinghua Tongfang Co., Ltd., Annual General Meeting, May 21, 2026, at 09:00 China Standard Time. Location: No. 1, Wangzhuang Road, Haidian District, Beijing China Announcement • Mar 30
Tsinghua Tongfang Co., Ltd. to Report Q1, 2026 Results on Apr 29, 2026 Tsinghua Tongfang Co., Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026 Announcement • Dec 26
Tsinghua Tongfang Co., Ltd. to Report Fiscal Year 2025 Results on Apr 29, 2026 Tsinghua Tongfang Co., Ltd. announced that they will report fiscal year 2025 results on Apr 29, 2026 Announcement • Sep 30
Tsinghua Tongfang Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Tsinghua Tongfang Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Announcement • Jun 30
Tsinghua Tongfang Co., Ltd. to Report First Half, 2025 Results on Aug 30, 2025 Tsinghua Tongfang Co., Ltd. announced that they will report first half, 2025 results on Aug 30, 2025 Announcement • Apr 29
Tsinghua Tongfang Co., Ltd., Annual General Meeting, May 23, 2025 Tsinghua Tongfang Co., Ltd., Annual General Meeting, May 23, 2025, at 13:30 China Standard Time. Announcement • Mar 28
Tsinghua Tongfang Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Tsinghua Tongfang Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Announcement • Dec 27
Tsinghua Tongfang Co., Ltd. to Report Fiscal Year 2024 Results on Apr 29, 2025 Tsinghua Tongfang Co., Ltd. announced that they will report fiscal year 2024 results on Apr 29, 2025 Announcement • Nov 15
Shenzhen Maidijie Electronic Technology Co., Ltd. and Beijing Century Longmai Technology Co., Ltd. agreed to acquire Beijing Eren Eben Information Technology Co., Ltd. from Tsinghua Tongfang Co., Ltd. (SHSE:600100) for CNY 36 million Shenzhen Maidijie Electronic Technology Co., Ltd. and Beijing Century Longmai Technology Co., Ltd. agreed to acquire Beijing Eren Eben Information Technology Co., Ltd. from Tsinghua Tongfang Co., Ltd. (SHSE:600100) for CNY 36 million on November 13, 2024. A cash consideration of CNY 36 million will be paid by Shenzhen Maidijie Electronic Technology Co., Ltd. and Beijing Century Longmai Technology Co., Ltd. As part of consideration, CNY 36 million is paid towards common equity of Beijing Eren Eben Information Technology Co., Ltd. Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.008 (vs CN¥0.22 loss in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.008 (up from CN¥0.22 loss in 3Q 2023). Revenue: CN¥3.03b (down 60% from 3Q 2023). Net income: CN¥46.5m (up CN¥769.3m from 3Q 2023). Profit margin: 1.5% (up from net loss in 3Q 2023). Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Tech industry in China. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Tsinghua Tongfang Co., Ltd. to Report Q3, 2024 Results on Oct 30, 2024 Tsinghua Tongfang Co., Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: CN¥0.082 (vs CN¥0.052 loss in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.082 (up from CN¥0.052 loss in 2Q 2023). Revenue: CN¥3.37b (down 45% from 2Q 2023). Net income: CN¥187.2m (up CN¥362.3m from 2Q 2023). Profit margin: 5.6% (up from net loss in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Jun 28
Tsinghua Tongfang Co., Ltd. to Report First Half, 2024 Results on Aug 31, 2024 Tsinghua Tongfang Co., Ltd. announced that they will report first half, 2024 results on Aug 31, 2024 Reported Earnings • May 01
First quarter 2024 earnings released: CN¥0.047 loss per share (vs CN¥0.083 profit in 1Q 2023) First quarter 2024 results: CN¥0.047 loss per share (down from CN¥0.083 profit in 1Q 2023). Revenue: CN¥2.93b (down 33% from 1Q 2023). Net loss: CN¥159.1m (down 158% from profit in 1Q 2023). 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 2% per year, which means it is well ahead of earnings. Announcement • Apr 29
Tsinghua Tongfang Co., Ltd., Annual General Meeting, May 17, 2024 Tsinghua Tongfang Co., Ltd., Annual General Meeting, May 17, 2024, at 13:30 China Standard Time. Location: No. 1, Wangzhuang Road, Haidian District, Beijing China Announcement • Mar 29
Tsinghua Tongfang Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Tsinghua Tongfang Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Announcement • Dec 29
Tsinghua Tongfang Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 27, 2024 Tsinghua Tongfang Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 27, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: CN¥0.22 loss per share (vs CN¥0.13 loss in 3Q 2022) Third quarter 2023 results: CN¥0.22 loss per share (further deteriorated from CN¥0.13 loss in 3Q 2022). Revenue: CN¥7.59b (up 49% from 3Q 2022). Net loss: CN¥722.8m (loss widened 71% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • Aug 30
Second quarter 2023 earnings released: CN¥0.052 loss per share (vs CN¥0.045 profit in 2Q 2022) Second quarter 2023 results: CN¥0.052 loss per share (down from CN¥0.045 profit in 2Q 2022). Revenue: CN¥6.13b (up 31% from 2Q 2022). Net loss: CN¥175.1m (down 217% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: CN¥0.083 (vs CN¥0.16 loss in 1Q 2022) First quarter 2023 results: EPS: CN¥0.083 (up from CN¥0.16 loss in 1Q 2022). Revenue: CN¥4.36b (up 11% from 1Q 2022). Net income: CN¥276.4m (up CN¥827.2m from 1Q 2022). Profit margin: 6.3% (up from net loss in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Board Change • Nov 16
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. 4 experienced directors. 6 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Yang Li was the last independent director to join the board, commencing their role in 2013. 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 30
Third quarter 2022 earnings released: CN¥0.13 loss per share (vs CN¥0.064 loss in 3Q 2021) Third quarter 2022 results: CN¥0.13 loss per share (further deteriorated from CN¥0.064 loss in 3Q 2021). Revenue: CN¥5.10b (down 20% from 3Q 2021). Net loss: CN¥422.9m (loss widened 112% from 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Reported Earnings • Sep 03
Second quarter 2022 earnings released: EPS: CN¥0.045 (vs CN¥0.18 loss in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.045 (up from CN¥0.18 loss in 2Q 2021). Revenue: CN¥4.70b (down 30% from 2Q 2021). Net income: CN¥150.2m (up CN¥685.8m from 2Q 2021). Profit margin: 3.2% (up from net loss in 2Q 2021). 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 21% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 29
Full year 2021 earnings released: CN¥0.61 loss per share (vs CN¥0.035 profit in FY 2020) Full year 2021 results: CN¥0.61 loss per share (down from CN¥0.035 profit in FY 2020). Revenue: CN¥28.5b (up 9.8% from FY 2020). Net loss: CN¥1.88b (down CN¥1.98b from profit in FY 2020). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Board Change • Apr 27
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. 3 experienced directors. 6 highly experienced directors. Director Li Zhou was the last director to join the board, commencing their role in 2013. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 31
Third quarter 2021 earnings released: CN¥0.064 loss per share (vs CN¥0.024 loss in 3Q 2020) The company reported a soft third quarter result with increased losses and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: CN¥6.40b (up 2.7% from 3Q 2020). Net loss: CN¥199.2m (loss widened 177% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 29
Second quarter 2021 earnings released: CN¥0.18 loss per share (vs CN¥0.14 profit in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: CN¥6.68b (up 31% from 2Q 2020). Net loss: CN¥535.6m (down 232% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 29
Full year 2020 earnings released: EPS CN¥0.035 (vs CN¥0.10 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: CN¥25.9b (up 12% from FY 2019). Net income: CN¥102.5m (down 66% from FY 2019). Profit margin: 0.4% (down from 1.3% in FY 2019). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 29
New 90-day low: CN¥5.52 The company is down 16% from its price of CN¥6.60 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 Tech industry, which is up 3.0% over the same period. Is New 90 Day High Low • Jan 13
New 90-day low: CN¥5.92 The company is down 17% from its price of CN¥7.11 on 16 October 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is flat over the same period. Is New 90 Day High Low • Dec 24
New 90-day low: CN¥6.03 The company is down 15% from its price of CN¥7.08 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 Tech industry, which is up 1.0% over the same period. Is New 90 Day High Low • Dec 09
New 90-day low: CN¥6.43 The company is down 14% from its price of CN¥7.50 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 Tech industry, which is up 5.0% over the same period. Reported Earnings • Nov 02
Third quarter 2020 earnings released: CN¥0.024 loss per share The company reported a soft third quarter result with weaker earnings and control over expenses, although revenues were improved. Third quarter 2020 results: Revenue: CN¥6.23b (up 8.4% from 3Q 2019). Net loss: CN¥71.8m (down 119% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Oct 24
New 90-day low: CN¥6.97 The company is down 9.0% from its price of CN¥7.64 on 24 July 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is down 6.0% over the same period. Is New 90 Day High Low • Sep 22
New 90-day low: CN¥7.22 The company is down 3.0% from its price of CN¥7.41 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 Tech industry, which is up 5.0% over the same period. 