Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to HK$7.40, the stock trades at a trailing P/E ratio of 35.7x. Average trailing P/E is 19x in the Electronic industry in Hong Kong. Total returns to shareholders of 1,773% over the past three years. New Risk • May 05
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 Hong Kong stocks, typically moving 33% 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 Interest payments are not well covered by earnings (0.3x net interest cover). Share price has been highly volatile over the past 3 months (33% average weekly change). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (HK$633.0m market cap, or US$80.8m). Announcement • Apr 24
Tianli Holdings Group Limited, Annual General Meeting, Jun 18, 2026 Tianli Holdings Group Limited, Annual General Meeting, Jun 18, 2026, at 11:30 China Standard Time. Location: room 201, 2/f, pico tower, 66 gloucester road, wan chai, Hong Kong Reported Earnings • Mar 28
Full year 2025 earnings released: EPS: CN¥0.18 (vs CN¥0.21 loss in FY 2024) Full year 2025 results: EPS: CN¥0.18 (up from CN¥0.21 loss in FY 2024). Revenue: CN¥679.0m (up 24% from FY 2024). Net income: CN¥133.4m (up CN¥286.8m from FY 2024). Profit margin: 20% (up from net loss in FY 2024). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Mar 11
Tianli Holdings Group Limited to Report Fiscal Year 2025 Results on Mar 27, 2026 Tianli Holdings Group Limited announced that they will report fiscal year 2025 results on Mar 27, 2026 Reported Earnings • Oct 02
First half 2025 earnings released: CN¥0.045 loss per share (vs CN¥0.079 loss in 1H 2024) First half 2025 results: CN¥0.045 loss per share (improved from CN¥0.079 loss in 1H 2024). Revenue: CN¥303.1m (up 38% from 1H 2024). Net loss: CN¥33.8m (loss narrowed 43% from 1H 2024). 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 3% per year, which means it is well ahead of earnings. Reported Earnings • Aug 31
First half 2025 earnings released: CN¥0.045 loss per share (vs CN¥0.079 loss in 1H 2024) First half 2025 results: CN¥0.045 loss per share (improved from CN¥0.079 loss in 1H 2024). Revenue: CN¥303.1m (up 38% from 1H 2024). Net loss: CN¥33.8m (loss narrowed 43% from 1H 2024). 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 6% per year, which means it is well ahead of earnings. Announcement • Jul 25
Tianli Holdings Group Limited to Report Q2, 2025 Results on Aug 28, 2025 Tianli Holdings Group Limited announced that they will report Q2, 2025 results on Aug 28, 2025 New Risk • Jun 27
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 Risks Less than 1 year of cash runway based on free cash flow trend (-CN¥191m free cash flow). Earnings have declined by 36% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (HK$432.0m market cap, or US$55.0m). Announcement • Jun 20
Tianli Holdings Group Limited Appoints Jiao Jie as Member of the Nomination Committee, with Effect from 20 June 2025 The Board pf Tianli Holdings Group Limited announced that, with effect from 20 June 2025, Ms. Jiao Jie, an independent non-executive Director, has been appointed as a member of the nomination committee of the Company. Reported Earnings • May 01
Full year 2024 earnings released: CN¥0.21 loss per share (vs CN¥0.30 loss in FY 2023) Full year 2024 results: CN¥0.21 loss per share (improved from CN¥0.30 loss in FY 2023). Revenue: CN¥548.0m (up 12% from FY 2023). Net loss: CN¥153.4m (loss narrowed 31% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance. Announcement • Apr 25
Tianli Holdings Group Limited, Annual General Meeting, Jun 20, 2025 Tianli Holdings Group Limited, Annual General Meeting, Jun 20, 2025, at 12:00 China Standard Time. Location: portion 02, 12/f, the center, 99 queen`s road central, Hong Kong Reported Earnings • Mar 30
Full year 2024 earnings released: CN¥0.21 loss per share (vs CN¥0.30 loss in FY 2023) Full year 2024 results: CN¥0.21 loss per share (improved from CN¥0.30 loss in FY 2023). Revenue: CN¥548.0m (up 12% from FY 2023). Net loss: CN¥153.4m (loss narrowed 31% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 48 percentage points per year, which is a significant difference in performance. Announcement • Mar 12
Tianli Holdings Group Limited to Report Fiscal Year 2024 Results on Mar 28, 2025 Tianli Holdings Group Limited announced that they will report fiscal year 2024 results at 4:00 PM, China Standard Time on Mar 28, 2025 New Risk • Jan 03
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 Hong Kong stocks, typically moving 18% 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 Less than 1 year of cash runway based on free cash flow trend (-CN¥262m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 24% per year over the past 5 years. Minor Risk Market cap is less than US$100m (HK$163.8m market cap, or US$21.1m). Reported Earnings • Oct 01
First half 2024 earnings released: CN¥0.079 loss per share (vs CN¥0.094 loss in 1H 2023) First half 2024 results: CN¥0.079 loss per share (improved from CN¥0.094 loss in 1H 2023). Revenue: CN¥219.4m (up 3.2% from 1H 2023). Net loss: CN¥59.2m (loss narrowed 15% from 1H 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. New Risk • Aug 30
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CN¥335m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CN¥335m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 24% per year over the past 5 years. Minor Risk Market cap is less than US$100m (HK$178.7m market cap, or US$22.9m). Announcement • Aug 15
Tianli Holdings Group Limited to Report First Half, 2024 Results on Aug 29, 2024 Tianli Holdings Group Limited announced that they will report first half, 2024 results on Aug 29, 2024 Announcement • Apr 28
Tianli Holdings Group Limited, Annual General Meeting, Jun 20, 2024 Tianli Holdings Group Limited, Annual General Meeting, Jun 20, 2024, at 12:00 China Standard Time. Location: Portion 02, 12/F, The Center, 99 Queen's Road Central Hong Kong Hong Kong Agenda: To consider and approve the audited consolidated financial statements of the Company and its subsidiaries and the reports of the directors of the Company; to consider and re-elect the executive Director; to consider authorise the board of Directors to fix the Directors' remuneration; to consider and re-appoint Crowe (HK) CPA Limited as the auditor of the Company and to authorise the board of Directors to fix its remuneration; and to consider other business matters. Reported Earnings • Mar 29
Full year 2023 earnings released: CN¥0.30 loss per share (vs CN¥0.086 loss in FY 2022) Full year 2023 results: CN¥0.30 loss per share (further deteriorated from CN¥0.086 loss in FY 2022). Revenue: CN¥488.0m (up 35% from FY 2022). Net loss: CN¥222.1m (loss widened 248% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. Announcement • Mar 15
Tianli Holdings Group Limited to Report Fiscal Year 2023 Results on Mar 27, 2024 Tianli Holdings Group Limited announced that they will report fiscal year 2023 results on Mar 27, 2024 Board Change • Feb 22
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. 2 experienced directors. 3 highly experienced directors. Independent Non-Executive Director David Tsoi was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Dec 31
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 39% per year over the past 5 years. Minor Risk Market cap is less than US$100m (HK$260.7m market cap, or US$33.4m). Reported Earnings • Sep 03
First half 2023 earnings released: CN¥0.094 loss per share (vs CN¥0.064 loss in 1H 2022) First half 2023 results: CN¥0.094 loss per share (further deteriorated from CN¥0.064 loss in 1H 2022). Revenue: CN¥212.6m (up 9.4% from 1H 2022). Net loss: CN¥69.7m (loss widened 47% from 1H 2022). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Announcement • Aug 23
Tianli Holdings Group Limited Provides Unaudited Consolidated Earnings Guidance for the Six Months Ended 30 June 2023 Tianli Holdings Group Limited provides unaudited consolidated earnings guidance for the six months ended 30 June 2023. For the period, the company is expected to a loss of approximately RMB 65.0 million to approximately RMB 75.0 million attributable to the Shareholders for the six months ended 30 June 2023 as compared to a loss of RMB 47.5 million attributable to the Shareholders for the six months ended 30 June 2022. Announcement • Aug 18
Tianli Holdings Group Limited to Report First Half, 2023 Results on Aug 29, 2023 Tianli Holdings Group Limited announced that they will report first half, 2023 results on Aug 29, 2023 New Risk • Jul 28
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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 42% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (HK$350.0m market cap, or US$44.9m). Board Change • Nov 16
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. 4 experienced directors. 1 highly experienced director. Independent Non-Executive Director David Tsoi was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 28
First half 2022 earnings released: CN¥0.064 loss per share (vs CN¥0.038 profit in 1H 2021) First half 2022 results: CN¥0.064 loss per share (down from CN¥0.038 profit in 1H 2021). Revenue: CN¥194.3m (down 38% from 1H 2021). Net loss: CN¥47.5m (down 267% from profit in 1H 2021). Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Aug 21
Tianli Holdings Group Limited Provides Earnings Guidance for the Six Months Ended 30 June 2022 Tianli Holdings Group Limited provides earnings guidance for the six months ended 30 June 2022. The Group is expected to record (i) a decrease of not less than 35% in revenue for the six months ended 30 June 2022 as compared to the six months ended 30 June 2021; and (ii) a loss of approximately RMB 40.0 million to approximately RMB 50.0 million attributable to the Shareholders for the six months ended 30 June 2022 as compared to a profit of RMB28.5 million attributable to the Shareholders for the six months ended 30 June 2021. Such change from profit to loss was primarily attributable to the resurgence of the pandemic and the disrupted logistics, demand from the downstream manufacturers was restrained, especially in the consumer electronics sector where end-users' demand saw a sharp decline. In the Group's multi-layer ceramic capacitors ("MLCC") segment, although there was an increase in the proportion and gross profit of industrial and automotive-grade MLCC products, both the sales price and volume of the consumer-grade MLCC products are negatively affected by end-users' demand, resulting in a decrease in total revenue. In the meantime, reduced production resulted in higher unit costs and lower gross profit margin led to a decline in gross profit. Meanwhile, for the Group 's investment and financial services segment, the fair value of certain fund investments decreased due to the fluctuation of exchange rate. Announcement • Aug 17
Tianli Holdings Group Limited to Report First Half, 2022 Results on Aug 26, 2022 Tianli Holdings Group Limited announced that they will report first half, 2022 results on Aug 26, 2022 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. 4 experienced directors. 1 highly experienced director. Independent Non-Executive Director David Tsoi was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 03
Full year 2021 earnings released: EPS: CN¥0.092 (vs CN¥0.008 loss in FY 2020) Full year 2021 results: EPS: CN¥0.092 (up from CN¥0.008 loss in FY 2020). Revenue: CN¥548.5m (up 24% from FY 2020). Net income: CN¥68.8m (up CN¥74.6m from FY 2020). Profit margin: 13% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. 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 18% per year, which means it is significantly lagging earnings. Board Change • Sep 16
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. 4 experienced directors. 1 highly experienced director. Chairman of the Board Chunhua Zhou was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Executive Departure • Sep 16
Executive Director Weilin Du has left the company On the 13th of September, Weilin Du's tenure as Executive Director ended. As of June 2021, Weilin still personally held 189.77m shares (HK$125m worth at the time). A total of 2 executives have left over the last 12 months. Reported Earnings • Aug 30
First half 2021 earnings released: EPS CN¥0.038 (vs CN¥0.014 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥315.1m (up 116% from 1H 2020). Net income: CN¥28.5m (up CN¥38.7m from 1H 2020). Profit margin: 9.0% (up from net loss in 1H 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Director Overboarding • Aug 20
Director Kin Wang Chu has joined 7th company board Independent Non-Executive Director Kin Wang Chu has been appointed to the board of Momentum Financial Holdings Limited (SEHK:1152). Chu now sits on a total of 7 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 20
Director Kin Wang Chu has joined 7th company board Independent Non-Executive Director Kin Wang Chu has been appointed to the board of Momentum Financial Holdings Limited (SEHK:1152). Chu now sits on a total of 7 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Executive Departure • Jul 15
Chief Legal Officer, Chief Risk Officer & Executive Director Bang Yi Chou has left the company On the 7th of July, Bang Yi Chou's tenure as Chief Legal Officer, Chief Risk Officer & Executive Director ended. We don't have any record of a personal shareholding under Bang Yi's name. Bang Yi is the only executive to leave the company over the last 12 months. Reported Earnings • Apr 02
Full year 2020 earnings released: CN¥0.008 loss per share (vs CN¥0.17 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: CN¥441.6m (down 1.0% from FY 2019). Net loss: CN¥5.77m (loss narrowed 95% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Announcement • Mar 25
Tianli Holdings Group Limited Provides Consolidated Earnings Guidance for the Full Year Ended December 31, 2020 Tianli Holdings Group Limited provided consolidated earnings guidance for the full year ended December 31, 2020. For the period, the company the Group is expected to record a loss of approximately RMB 5 million to RMB 15 million. Announcement • Mar 17
Tianli Holdings Group Limited to Report Fiscal Year 2020 Results on Mar 31, 2021 Tianli Holdings Group Limited announced that they will report fiscal year 2020 results on Mar 31, 2021 Is New 90 Day High Low • Jan 05
New 90-day low: HK$0.46 The company is down 25% from its price of HK$0.61 on 07 October 2020. The Hong Kong market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 20% over the same period. Is New 90 Day High Low • Nov 20
New 90-day low: HK$0.52 The company is down 27% from its price of HK$0.71 on 21 August 2020. The Hong Kong 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 7.0% over the same period. Is New 90 Day High Low • Nov 02
New 90-day low: HK$0.57 The company is down 15% from its price of HK$0.67 on 04 August 2020. The Hong Kong market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 13% over the same period. Reported Earnings • Sep 25
First half earnings released Over the last 12 months the company has reported total losses of CN¥87.6m, with losses widening by 11% from the prior year. Total revenue was CN¥331.5m over the last 12 months, down 50% from the prior year. Announcement • Aug 14
Tianli Holdings Group Limited to Report First Half, 2020 Results on Aug 27, 2020 Tianli Holdings Group Limited announced that they will report first half, 2020 results on Aug 27, 2020