New Risk • Jun 09
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 Hong Kong stocks, typically moving 11% 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 Risks Interest payments are not well covered by earnings (0.8x net interest cover). Earnings have declined by 0.7% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.0% net profit margin). Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to HK$2.07, the stock trades at a trailing P/E ratio of 33.6x. Average forward P/E is 11x in the Auto Components industry in Hong Kong. Total loss to shareholders of 50% over the past three years. Upcoming Dividend • May 21
Upcoming dividend of HK$0.018 per share Eligible shareholders must have bought the stock before 28 May 2026. Payment date: 02 July 2026. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Hong Kong dividend payers (6.9%). Lower than average of industry peers (3.3%). Reported Earnings • Apr 26
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.053 (down from CN¥0.19 in FY 2024). Revenue: CN¥6.06b (down 9.5% from FY 2024). Net income: CN¥57.9m (down 72% from FY 2024). Profit margin: 1.0% (down from 3.1% in FY 2024). Revenue missed analyst estimates by 16%. Earnings per share (EPS) also missed analyst estimates by 62%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Auto Components industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. New Risk • Apr 08
New major risk - Revenue and earnings growth Earnings have declined by 0.7% 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 Interest payments are not well covered by earnings (0.8x net interest cover). Earnings have declined by 0.7% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.0% net profit margin). Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to HK$1.60, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 7x in the Auto Components industry in Hong Kong. Total loss to shareholders of 67% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$0.90 per share. Declared Dividend • Mar 29
Dividend reduced to HK$0.018 Dividend of HK$0.018 is 71% lower than last year. Ex-date: 28th May 2026 Payment date: 2nd July 2026 Dividend yield will be 0.9%, which is lower than the industry average of 4.6%. Sustainability & Growth The dividend has increased by an average of 2.3% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 154% over the next 2 years, which should provide support to the dividend and adequate earnings cover. New Risk • Mar 28
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.7x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (1.0% net profit margin). Reported Earnings • Mar 28
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.053 (down from CN¥0.19 in FY 2024). Revenue: CN¥6.06b (down 9.5% from FY 2024). Net income: CN¥57.9m (down 72% from FY 2024). Profit margin: 1.0% (down from 3.1% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 16%. Earnings per share (EPS) also missed analyst estimates by 62%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Auto Components industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Announcement • Mar 28
Intron Technology Holdings Limited announces Annual dividend, payable on July 02, 2026 Intron Technology Holdings Limited announced Annual dividend of HKD 0.0182 per share payable on July 02, 2026, ex-date on May 28, 2026 and record date on May 29, 2026. Announcement • Mar 27
Intron Technology Holdings Limited, Annual General Meeting, May 26, 2026 Intron Technology Holdings Limited, Annual General Meeting, May 26, 2026. Announcement • Mar 17
Intron Technology Holdings Limited to Report Fiscal Year 2025 Results on Mar 27, 2026 Intron Technology Holdings Limited announced that they will report fiscal year 2025 results on Mar 27, 2026 New Risk • Mar 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. 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: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (2.4% net profit margin). Valuation Update With 7 Day Price Move • Oct 30
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to HK$2.07, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Auto Components industry in Hong Kong. Total loss to shareholders of 34% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$0.83 per share. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$1.69, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Auto Components industry in Hong Kong. Total loss to shareholders of 65% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$0.80 per share. Major Estimate Revision • Sep 02
Consensus EPS estimates fall by 39% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥7.69b to CN¥7.31b. EPS estimate also fell from CN¥0.23 per share to CN¥0.14 per share. Net income forecast to grow 18% next year vs 36% growth forecast for Auto Components industry in Hong Kong. Consensus price target down from HK$2.29 to HK$2.15. Share price fell 11% to HK$1.48 over the past week. Reported Earnings • Aug 28
First half 2025 earnings released: EPS: CN¥0.046 (vs CN¥0.09 in 1H 2024) First half 2025 results: EPS: CN¥0.046 (down from CN¥0.09 in 1H 2024). Revenue: CN¥2.97b (up 4.6% from 1H 2024). Net income: CN¥49.7m (down 49% from 1H 2024). Profit margin: 1.7% (down from 3.4% in 1H 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Auto Components industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has fallen by 35% per year, which means it is performing significantly worse than earnings. Announcement • Aug 15
Intron Technology Holdings Limited to Report First Half, 2025 Results on Aug 26, 2025 Intron Technology Holdings Limited announced that they will report first half, 2025 results on Aug 26, 2025 Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to HK$1.83, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Auto Components industry in Hong Kong. Total loss to shareholders of 67% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$2.62 per share. Announcement • May 26
Intron Technology Holdings Limited Declares Final Dividend for the Year Ended December 31, 2024 Intron Technology Holdings Limited at its Annual General Meeting held on May 26, 2025, approved to declare a final dividend of HKD 0.063 per ordinary share for the year ended December 31, 2024. Upcoming Dividend • May 21
Upcoming dividend of HK$0.063 per share Eligible shareholders must have bought the stock before 28 May 2025. Payment date: 02 July 2025. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (3.5%). Major Estimate Revision • Apr 04
Consensus EPS estimates fall by 16%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from CN¥7.18b to CN¥7.69b. EPS estimate fell from CN¥0.275 to CN¥0.23 per share. Net income forecast to grow 19% next year vs 21% growth forecast for Auto Components industry in Hong Kong. Consensus price target up from HK$2.10 to HK$2.26. Share price fell 6.3% to HK$1.34 over the past week. Declared Dividend • Mar 31
Dividend of HK$0.063 announced Shareholders will receive a dividend of HK$0.063. Ex-date: 28th May 2025 Payment date: 2nd July 2025 Dividend yield will be 4.8%, which is about the same as the industry average. Sustainability & Growth The dividend has increased by an average of 11% per year over the past 6 years. However, payments have been volatile during that time. EPS is expected to grow by 74% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 30
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: CN¥0.19 (down from CN¥0.29 in FY 2023). Revenue: CN¥6.69b (up 15% from FY 2023). Net income: CN¥208.6m (down 34% from FY 2023). Profit margin: 3.1% (down from 5.5% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.1%. Earnings per share (EPS) missed analyst estimates by 6.4%. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Auto Components industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 27% per year, which means it is performing significantly worse than earnings. Announcement • Mar 30
Intron Technology Holdings Limited announces Annual dividend, payable on July 02, 2025 Intron Technology Holdings Limited announced Annual dividend of HKD 0.0630 per share payable on July 02, 2025, ex-date on May 28, 2025 and record date on May 29, 2025. Announcement • Mar 29
Intron Technology Holdings Limited, Annual General Meeting, May 26, 2025 Intron Technology Holdings Limited, Annual General Meeting, May 26, 2025. Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to HK$1.43, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 8x in the Auto Components industry in Hong Kong. Total loss to shareholders of 53% over the past three years. Announcement • Mar 17
Intron Technology Holdings Limited to Report Fiscal Year 2024 Results on Mar 28, 2025 Intron Technology Holdings Limited announced that they will report fiscal year 2024 results on Mar 28, 2025 New Risk • Feb 06
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 Hong Kong stocks, typically moving 12% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). 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 (12% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.3% net profit margin). Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to HK$1.45, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 6x in the Auto Components industry in Hong Kong. Total loss to shareholders of 63% over the past three years. Announcement • Nov 29
Intron Technology Holdings Limited Announces Board and Committee Changes, Effective December 1, 2024 The board directors of Intron Technology Holdings Limited announced that Mr. Yu Hong has tendered his resignation as an independent non-executive Director with effect from 1 December 2024 as he desires to devote more time to his personal affairs and other engagements. Following his resignation, Mr. Yu will cease to be a member of each of the audit committee and the remuneration committee of the Board with effect from 1 December 2024. The Board announced that Ms. Han Shuting has been appointed as an independent non-executive Director with effect from 1 December 2024. Ms. Han, aged 35, graduated from Wuhan University in China in 2011 with a bachelor's degree in electronic science and technology and obtained a master's degree in electronic media from Bangalore University in India in 2013. Ms. Han is a seasoned professional in the fields of investor relations and public relations. She worked as a senior marketing director at Shenzhen Pico Plus Service Co. Ltd. from December 2014 to July 2016. From August 2016 to April 2021, she served as the media relations director at Shenzhen Brain Power Consulting Co. Ltd. From April 2021 to October 2022, she was the deputy general manager of the public relations department at Ofilm Group Co. Ltd. Since October 2022, she has been serving as the director of investors relations and public relations at Lingyi iTECH (Guangdong) Co. Ltd. In March 2023, Ms. Han received the qualification certificate for the secretary of the board of directors issued by the Shenzhen Stock Exchange. The Company has entered into a letter of appointment with Ms. Han for an initial term of three years commencing from 1 December 2024, which may be terminated by either party by giving not less than three months' prior notice in writing to the other. Following the resignation of Mr. Yu as an independent non-executive Director and the appointment of Ms. Han as an independent non-executive Director, with effect from 1 December 2024: Mr. Yu will cease to be a member of each of the Audit Committee and the Remuneration Committee; and Ms. Han will be appointed as a member of each of the Audit Committee and the Remuneration Committee. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to HK$1.57, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 6x in the Auto Components industry in Hong Kong. Total loss to shareholders of 64% over the past three years. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to HK$1.50, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 6x in the Auto Components industry in Hong Kong. Total loss to shareholders of 65% over the past three years. New Risk • Sep 24
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 Hong Kong stocks, typically moving 9.3% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.3% net profit margin). Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to HK$1.12, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 5x in the Auto Components industry in Hong Kong. Total loss to shareholders of 71% over the past three years. Major Estimate Revision • Sep 03
Consensus revenue estimates fall by 10% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥6.82b to CN¥6.12b. EPS estimate fell from CN¥0.305 to CN¥0.21 per share. Net income forecast to shrink 0.6% next year vs 21% growth forecast for Auto Components industry in Hong Kong . Consensus price target down from HK$3.56 to HK$2.43. Share price fell 11% to HK$1.13 over the past week. Reported Earnings • Aug 31
First half 2024 earnings released: EPS: CN¥0.09 (vs CN¥0.14 in 1H 2023) First half 2024 results: EPS: CN¥0.09 (down from CN¥0.14 in 1H 2023). Revenue: CN¥2.84b (up 8.0% from 1H 2023). Net income: CN¥97.7m (down 37% from 1H 2023). Profit margin: 3.4% (down from 5.9% in 1H 2023). Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Aug 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 32% to HK$1.33. The fair value is estimated to be HK$1.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Earnings per share has grown by 42%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Announcement • Aug 15
Intron Technology Holdings Limited to Report First Half, 2024 Results on Aug 27, 2024 Intron Technology Holdings Limited announced that they will report first half, 2024 results on Aug 27, 2024 Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$1.48, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 6x in the Auto Components industry in Hong Kong. Total loss to shareholders of 64% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$1.54 per share. Announcement • May 29
Intron Technology Holdings Limited Approves Final Dividend for the Year Ended 31 December 2023 Intron Technology Holdings Limited announced that at its AGM held on May 27, 2024, approved a final dividend of HKD 0.098 per ordinary share for the year ended 31 December 2023. Buy Or Sell Opportunity • May 28
Now 25% overvalued Over the last 90 days, the stock has fallen 22% to HK$1.88. The fair value is estimated to be HK$1.50, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Earnings per share has grown by 42%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Upcoming Dividend • May 22
Upcoming dividend of HK$0.098 per share Eligible shareholders must have bought the stock before 29 May 2024. Payment date: 02 July 2024. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 4.7%. Lower than top quartile of Hong Kong dividend payers (7.4%). Higher than average of industry peers (3.7%). Reported Earnings • Apr 27
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.29 (down from CN¥0.38 in FY 2022). Revenue: CN¥5.80b (up 20% from FY 2022). Net income: CN¥317.4m (down 24% from FY 2022). Profit margin: 5.5% (down from 8.6% in FY 2022). Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 26%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Apr 24
Now 22% overvalued Over the last 90 days, the stock has fallen 8.4% to HK$1.86. The fair value is estimated to be HK$1.52, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Earnings per share has grown by 42%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Major Estimate Revision • Mar 27
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥7.96b to CN¥6.85b. EPS estimate fell from CN¥0.545 to CN¥0.305 per share. Net income forecast to grow 5.6% next year vs 11% growth forecast for Auto Components industry in Hong Kong. Consensus price target down from HK$5.78 to HK$4.30. Share price fell 7.9% to HK$1.86 over the past week. Declared Dividend • Mar 22
Dividend of HK$0.098 announced Shareholders will receive a dividend of HK$0.098. Ex-date: 29th May 2024 Payment date: 2nd July 2024 Dividend yield will be 5.1%, which is higher than the industry average of 4.6%. Sustainability & Growth Dividend is covered by earnings (30% 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 14% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 41% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 21
Full year 2023 earnings released: EPS: CN¥0.29 (vs CN¥0.38 in FY 2022) Full year 2023 results: EPS: CN¥0.29 (down from CN¥0.38 in FY 2022). Revenue: CN¥5.80b (up 20% from FY 2022). Net income: CN¥317.4m (down 24% from FY 2022). Profit margin: 5.5% (down from 8.6% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Major Estimate Revision • Mar 13
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥6.17b to CN¥5.96b. EPS estimate also fell from CN¥0.49 per share to CN¥0.39 per share. Net income forecast to grow 23% next year vs 23% growth forecast for Auto Components industry in Hong Kong. Consensus price target broadly unchanged at HK$5.81. Share price rose 16% to HK$2.40 over the past week. Announcement • Mar 09
Intron Technology Holdings Limited to Report Fiscal Year 2023 Results on Mar 20, 2024 Intron Technology Holdings Limited announced that they will report fiscal year 2023 results on Mar 20, 2024 Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$1.86, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 5x in the Auto Components industry in Hong Kong. Total loss to shareholders of 78% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$2.10 per share. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to HK$2.12, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 6x in the Auto Components industry in Hong Kong. Total loss to shareholders of 20% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$1.95 per share. Announcement • Nov 30
Intron Technology Holdings Limited Announces Establishment of the Environmental, Social and Governance Committee The board of directors of Intron Technology Holdings Limited announced that an environmental, social and governance committee of the Board (ESG Committee) was established on 28 November 2023. The purpose of the establishment of the ESG Committee is to better position the Group for management of environmental, social and governance ("ESG") issues; and (ii) to provide guidance in the implementation of related measures in order to promote the Group's ESG. With the establishment of the ESG Committee, it is believed that the Group would be able to better identify, evaluate and manage material ESG-related issues; better implement its ESG policies and procedures, deal with significant ESG issues and relevant circumstances in a more effective manner, have a solid grip on major trends in ESG, and properly manage ESG related risks. Mr. Luk Wing Ming has been appointed as the chairman of the ESG Committee, and Mr. Chan Ming and Mr. Ng Ming Chee have been appointed as members of the ESG Committee with effect from 28 November 2023. New Risk • Sep 23
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 37% 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 Risk High level of non-cash earnings (37% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Major Estimate Revision • Aug 30
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥6.59b to CN¥6.18b. EPS estimate also fell from CN¥0.507 per share to CN¥0.453 per share. Net income forecast to grow 29% next year vs 28% growth forecast for Auto Components industry in Hong Kong. Consensus price target down from HK$7.37 to HK$6.40. Share price fell 16% to HK$3.50 over the past week. Valuation Update With 7 Day Price Move • Aug 28
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to HK$3.13, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 9x in the Auto Components industry in Hong Kong. Total returns to shareholders of 47% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$1.95 per share. Reported Earnings • Aug 24
First half 2023 earnings released: EPS: CN¥0.14 (vs CN¥0.14 in 1H 2022) First half 2023 results: EPS: CN¥0.14 (up from CN¥0.14 in 1H 2022). Revenue: CN¥2.63b (up 27% from 1H 2022). Net income: CN¥154.5m (up 1.2% from 1H 2022). Profit margin: 5.9% (down from 7.4% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Auto Components industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Aug 12
Intron Technology Holdings Limited to Report First Half, 2023 Results on Aug 23, 2023 Intron Technology Holdings Limited announced that they will report first half, 2023 results on Aug 23, 2023 Announcement • May 30
Intron Technology Holdings Limited Approves final dividend for the year ended 31 December 2022 Intron Technology Holdings Limited announced that at its Annual General Meeting held on 29 May 2023, declare a final dividend of HKD 0.131 per ordinary share for the year ended 31 December 2022. Upcoming Dividend • May 25
Upcoming dividend of HK$0.13 per share at 2.8% yield Eligible shareholders must have bought the stock before 01 June 2023. Payment date: 03 July 2023. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of Hong Kong dividend payers (7.7%). In line with average of industry peers (2.9%). Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$5.57, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Auto Components industry in Hong Kong. Total returns to shareholders of 156% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$2.35 per share. Reported Earnings • Mar 28
Full year 2022 earnings: Revenues exceed analyst expectations Full year 2022 results: Revenue: CN¥4.83b (up 52% from FY 2021). Net income: CN¥415.0m (up 107% from FY 2021). Profit margin: 8.6% (up from 6.3% in FY 2021). Revenue exceeded analyst estimates by 8.7%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Auto Components industry in Hong Kong. Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$5.11, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Auto Components industry in Hong Kong. Total returns to shareholders of 152% over the past three years. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improved over the past week After last week's 15% share price gain to HK$5.00, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Auto Components industry in Hong Kong. Total returns to shareholders of 109% over the past three years. 
