Board Change • May 20
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. CEO & Executive Director Zorn Wong Wang is the most experienced director on the board, commencing their role in 2023. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • May 01
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. CEO & Executive Director Zorn Wong Wang is the most experienced director on the board, commencing their role in 2023. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 31
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. CEO & Executive Director Zorn Wong Wang is the most experienced director on the board, commencing their role in 2023. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Oct 14
Rectifier Technologies Ltd, Annual General Meeting, Nov 18, 2025 Rectifier Technologies Ltd, Annual General Meeting, Nov 18, 2025. Reported Earnings • Aug 29
Full year 2025 earnings released: AU$0.001 loss per share (vs AU$0.001 profit in FY 2024) Full year 2025 results: AU$0.001 loss per share (down from AU$0.001 profit in FY 2024). Revenue: AU$17.2m (down 30% from FY 2024). Net loss: AU$783.8k (down 205% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has fallen by 54% per year, which means it is performing significantly worse than earnings. Board Change • Aug 18
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. CEO & Executive Director Zorn Wong Wang is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Tillkännagivande • Oct 11
Rectifier Technologies Limited, Annual General Meeting, Nov 27, 2024 Rectifier Technologies Limited, Annual General Meeting, Nov 27, 2024. Reported Earnings • Oct 05
Full year 2024 earnings released: EPS: AU$0.001 (vs AU$0.005 in FY 2023) Full year 2024 results: EPS: AU$0.001 (down from AU$0.005 in FY 2023). Revenue: AU$24.4m (down 38% from FY 2023). Net income: AU$747.5k (down 88% from FY 2023). Profit margin: 3.1% (down from 16% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 31
Full year 2024 earnings released: EPS: AU$0.001 (vs AU$0.005 in FY 2023) Full year 2024 results: EPS: AU$0.001 (down from AU$0.005 in FY 2023). Revenue: AU$24.8m (down 37% from FY 2023). Net income: AU$753.0k (down 88% from FY 2023). Profit margin: 3.0% (down from 16% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Tillkännagivande • Jul 18
Rectifier Technologies Limited Announces Board Changes Rectifier Technologies Limited advised that following the resignation as Chairman, Mr. Yingming Wang has delivered his resignation as a Director. The company announced that Mr. Jeffrey Chu is appointed a Non-Executive Director, effective July 18, 2024. Jeffrey Chu is currently the Chairman and CEO of AETAS Corporation, a US-based sourcing company he founded in 2004, which assists entrepreneurs and SMEs in developing reliable supply chains in Asia. He holds a Bachelor of Science in Precision Instrument from Shanghai Jiao Tong University and a Master of Science in Industrial Engineering from Bradley University. Jeffrey's expertise spans industries including textiles, plastics, motors, and metals. His previous roles include senior product manager at Entegris Inc. and various managerial positions at Emerson/Tescom, focusing on manufacturing, engineering, and sales. His comprehensive skills in international trade, sourcing, and supply chain management have enabled him to build strong business connections between the US and Asia. Recent Insider Transactions • May 09
Executive Director recently bought AU$527k worth of stock On the 30th of April, Zorn Wong bought around 31m shares on-market at roughly AU$0.017 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$547k more in shares than they have sold in the last 12 months. Tillkännagivande • May 03
Rectifier Technologies Limited Announces Change of Company Secretary Rectifier Technologies Ltd. announced that Mr. Hasaka Martin has resigned as Company Secretary and Ms Xuekun Li has been appointed to the position effective 1 May 2024. Ms Li is a chartered company secretary and a qualified accountant with more than 20 years' experience in financial accounting and corporate governance. She started her professional career in a Big-Four international accounting firm where she was involved in audits and corporate finance. Ms Li has worked for a number of Australian listed companies on accounting and corporate governance matters. She is currently company secretary of several public companies. New Risk • Apr 24
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.2m (US$9.89m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. High level of non-cash earnings (36% accrual ratio). Market cap is less than US$10m (AU$15.2m market cap, or US$9.89m). Minor Risk Profit margins are more than 30% lower than last year (2.2% net profit margin). Board Change • Mar 25
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Chairman Ying Wang is the most experienced director on the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Tillkännagivande • Dec 08
Rectifier Technologies Limited Announces Director Appointments Rectifier Technologies Limited announced the appointment of Mr. Trevor Fox, Mr. Philippe Compagnon and Dr. Deng Mu as non-executive directors, and Mr. Zorn Wong as an executive director of the Company. The Director appointments were effective 6 December 2023. Dr. Deng Mu is an experienced risk management professional and has previously worked at Singapore Risk Management Institute and OCBC Bank group. In 2020, Dr Mu co-founded D&I Technology Pte Ltd. which specializes FPGA solution for computing acceleration and ALM modelling and derivatives modelling. Dr Mu holds a PhD in Engineering from the National University of Singapore. Mr. Mu is a resident of Singapore. Mr. Philippe Compagnon has worked as a Deputy Business Unit Director with IDEMIA, a leading company in secure ID and biometric technologies. Philippe was previously an executive of SAGEM. Mr. Compagnon is a resident of Australia. Mr. Zorn Wong has nearly ten years of management experience and professional skills in the new energy field. He has extensive industry resources having worked at Smart New Energy Technology Co. Ltd. and Longyuan Green Energy Co. Ltd. Zorn was the general manager of Zorn Asset Management where he was responsible for the financing planning and execution of several large-scale new energy projects. Mr. Wong is a resident of China. Tillkännagivande • Nov 01
Rectifier Technologies Limited, Annual General Meeting, Nov 29, 2023 Rectifier Technologies Limited, Annual General Meeting, Nov 29, 2023, at 15:00 AUS Eastern Standard Time. Location: The Offices of Grant Thornton, Collins Square, Level 22, Tower 5, 727 Collins Street Melbourne Victoria Australia Agenda: To consider adoption of Remuneration Report; to consider election and re-election of Directors of the Company; to consider approval of future issue of Securities; to consider ratification of Prior Issue of Unlisted Options; to consider adoption of Employee Share Option Plan; and to consider any other matters. Tillkännagivande • Oct 10
Rectifier Technologies Limited Announces Management Changes The Board of Rectifier Technologies Limited announced the appointment of Jitto Arulampalam as a Non-Executive Director and Deputy Chairman of the Company. Mr. Arulampalam is the Managing Partner of Melbourne based Roddington Capital which has been involved in corporate restructuring, capital raising and listing and running of public companies on the ASX, DAX and Nasdaq capital markets since 2003. Prior to founding Roddington Capital, Mr. Arulampalam spent 8 years with Westpac Banking Corporation in a number of operational and strategic roles. In 2004 Mr. Arulampalam was head hunted by Newsnet Limited as its CEO to assist in positioning it for an IPO which resulted in the company being recognised by Australian Financial Review MIS Magazine as one of the ‘Top 25 Global Rising Stars’ in 2006. In 2010 Mr. Arulampalam co-founded ASX listed Potash mining company Fortis Mining Limited (ASX: FMJ) which was awarded the ‘IPO of the year 2011’. Mr. Arulampalam is currently the Chairman of Pooled Development Fund - SeedX Ventures Limited as well as TBG Diagnostics Limited and Tapp Group Limited. He is also a member of many professional bodies including the Australian Institute of Company Directors. Mr. Hasaka Martin, an employee of Automic Group (the Company’s corporate secretarial provider) will replace Ms Nova Taylor as Company Secretary with effect from today. Reported Earnings • Oct 01
Full year 2023 earnings released: EPS: AU$0.005 (vs AU$0 in FY 2022) Full year 2023 results: EPS: AU$0.005 (up from AU$0 in FY 2022). Revenue: AU$39.4m (up 167% from FY 2022). Net income: AU$6.46m (up AU$5.97m from FY 2022). Profit margin: 16% (up from 3.3% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 31
Full year 2023 earnings released: EPS: AU$0.005 (vs AU$0 in FY 2022) Full year 2023 results: EPS: AU$0.005 (up from AU$0 in FY 2022). Revenue: AU$39.8m (up 170% from FY 2022). Net income: AU$6.46m (up AU$5.97m from FY 2022). Profit margin: 16% (up from 3.3% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. New Risk • Aug 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. 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 December 2022 fiscal period end). Market cap is less than US$100m (AU$73.1m market cap, or US$47.4m). Tillkännagivande • Jun 09
Rectifier Technologies Limited Appoints Uei Jou Tan as the New Chief Manufacturing Officer Rectifier Technologies Limited announced the appointment of Uei Jou TAN as the new Chief Manufacturing Officer, effective on the 13th of June 2023. Uei Jou brings a wealth of expertise and a successful track record in manufacturing operations. With his deep understanding of production processes, supply chain management, and continuous improvement strategies, Uei Jou will play a pivotal role in driving operational excellence and enhancing the Company's manufacturing capabilities into the future. Buying Opportunity • Mar 05
Now 23% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be AU$0.058, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 39% over the last 3 years. Earnings per share has declined by 2.6%. Reported Earnings • Mar 01
First half 2023 earnings released: EPS: AU$0.003 (vs AU$0 in 1H 2022) First half 2023 results: EPS: AU$0.003 (up from AU$0 in 1H 2022). Revenue: AU$19.3m (up 195% from 1H 2022). Net income: AU$3.76m (up AU$3.36m from 1H 2022). Profit margin: 19% (up from 6.1% in 1H 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Board Change • Nov 17
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. No independent directors (4 non-independent directors). Head of Power Engineering & Executive Director Nigel Machin was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Oct 02
Full year 2022 earnings released: EPS: AU$0 (vs AU$0 in FY 2021) Full year 2022 results: EPS: AU$0 (in line with FY 2021). Revenue: AU$14.8m (up 25% from FY 2021). Net income: AU$492.0k (down 9.0% from FY 2021). Profit margin: 3.3% (down from 4.6% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Reported Earnings • Sep 02
Full year 2022 earnings released: EPS: AU$0 (vs AU$0 in FY 2021) Full year 2022 results: EPS: AU$0 (vs AU$0 in FY 2021). Revenue: AU$16.3m (up 38% from FY 2021). Net income: AU$509.3k (down 5.7% from FY 2021). Profit margin: 3.1% (down from 4.6% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Board Change • Apr 28
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. No independent directors (4 non-independent directors). Head of Power Engineering & Executive Director Nigel Machin was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Sep 02
Full year 2021 earnings released The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: AU$13.3m (down 18% from FY 2020). Net income: AU$540.0k (down 70% from FY 2020). Profit margin: 4.1% (down from 11% in FY 2020). The decrease in margin was driven by lower revenue. Reported Earnings • Oct 02
Full year earnings released - EPS AU$0.0013 Over the last 12 months the company has reported total profits of AU$1.82m, down 14% from the prior year. Total revenue was AU$16.1m over the last 12 months, down 12% from the prior year. Profit margins were 11%, which is in line with last year.