Valuation Update With 7 Day Price Move • May 28
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥10.92, the stock trades at a trailing P/E ratio of 58.7x. Average trailing P/E is 78x in the Electronic industry in China. Total returns to shareholders of 55% over the past three years. Reported Earnings • Apr 25
First quarter 2026 earnings released: EPS: CN¥0.039 (vs CN¥0.043 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.039 (down from CN¥0.043 in 1Q 2025). Revenue: CN¥306.4m (down 16% from 1Q 2025). Net income: CN¥24.6m (down 9.7% from 1Q 2025). Profit margin: 8.0% (up from 7.5% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 13% per year. New Risk • Apr 13
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 8.2% 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 Dividend is not well covered by cash flows (403% cash payout ratio). Share price has been volatile over the past 3 months (8.2% average weekly change). Tillkännagivande • Mar 30
Anhui Tongfeng Electronics Company Limited to Report Q1, 2026 Results on Apr 25, 2026 Anhui Tongfeng Electronics Company Limited announced that they will report Q1, 2026 results on Apr 25, 2026 New Risk • Mar 24
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 403% Dividend yield: 1.0% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to CN¥8.09, the stock trades at a trailing P/E ratio of 42.6x. Average trailing P/E is 58x in the Electronic industry in China. Total returns to shareholders of 13% over the past three years. Reported Earnings • Mar 18
Full year 2025 earnings released: EPS: CN¥0.19 (vs CN¥0.15 in FY 2024) Full year 2025 results: EPS: CN¥0.19 (up from CN¥0.15 in FY 2024). Revenue: CN¥1.40b (up 8.3% from FY 2024). Net income: CN¥119.9m (up 25% from FY 2024). Profit margin: 8.6% (up from 7.4% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 10% per year. Tillkännagivande • Mar 16
Anhui Tongfeng Electronics Company Limited, Annual General Meeting, Apr 24, 2026 Anhui Tongfeng Electronics Company Limited, Annual General Meeting, Apr 24, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Tongling, Anhui China Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥11.15, the stock trades at a trailing P/E ratio of 61.9x. Average trailing P/E is 64x in the Electronic industry in China. Total returns to shareholders of 55% over the past three years. Tillkännagivande • Dec 26
Anhui Tongfeng Electronics Company Limited to Report Fiscal Year 2025 Results on Mar 17, 2026 Anhui Tongfeng Electronics Company Limited announced that they will report fiscal year 2025 results on Mar 17, 2026 Buy Or Sell Opportunity • Dec 18
Now 21% undervalued Over the last 90 days, the stock has risen 14% to CN¥8.78. The fair value is estimated to be CN¥11.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 11%. Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.034 (vs CN¥0.024 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.034 (up from CN¥0.024 in 3Q 2024). Revenue: CN¥344.2m (up 6.4% from 3Q 2024). Net income: CN¥21.5m (up 39% from 3Q 2024). Profit margin: 6.2% (up from 4.8% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 7% per year. Tillkännagivande • Sep 30
Anhui Tongfeng Electronics Company Limited to Report Q3, 2025 Results on Oct 30, 2025 Anhui Tongfeng Electronics Company Limited announced that they will report Q3, 2025 results on Oct 30, 2025 Reported Earnings • Aug 25
Second quarter 2025 earnings released: EPS: CN¥0.05 (vs CN¥0.035 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.05 (up from CN¥0.035 in 2Q 2024). Revenue: CN¥363.0m (up 11% from 2Q 2024). Net income: CN¥31.2m (up 40% from 2Q 2024). Profit margin: 8.6% (up from 6.9% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Jun 30
Anhui Tongfeng Electronics Company Limited to Report First Half, 2025 Results on Aug 23, 2025 Anhui Tongfeng Electronics Company Limited announced that they will report first half, 2025 results on Aug 23, 2025 Tillkännagivande • Apr 20
Anhui Tongfeng Electronics Company Limited, Annual General Meeting, May 09, 2025 Anhui Tongfeng Electronics Company Limited, Annual General Meeting, May 09, 2025, at 14:30 China Standard Time. Location: The Company's Meeting Room, Tongling, Anhui China Reported Earnings • Apr 19
First quarter 2025 earnings released: EPS: CN¥0.043 (vs CN¥0.039 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.043 (up from CN¥0.039 in 1Q 2024). Revenue: CN¥364.7m (up 17% from 1Q 2024). Net income: CN¥27.2m (up 13% from 1Q 2024). Profit margin: 7.5% (down from 7.7% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Mar 28
Anhui Tongfeng Electronics Company Limited to Report Q1, 2025 Results on Apr 19, 2025 Anhui Tongfeng Electronics Company Limited announced that they will report Q1, 2025 results on Apr 19, 2025 Reported Earnings • Mar 18
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: CN¥0.15 (in line with FY 2023). Revenue: CN¥1.29b (up 19% from FY 2023). Net income: CN¥95.7m (up 10% from FY 2023). Profit margin: 7.4% (down from 8.0% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 6.3%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Tillkännagivande • Dec 27
Anhui Tongfeng Electronics Company Limited to Report Fiscal Year 2024 Results on Mar 18, 2025 Anhui Tongfeng Electronics Company Limited announced that they will report fiscal year 2024 results on Mar 18, 2025 Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: CN¥0.024 (vs CN¥0.019 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.024 (up from CN¥0.019 in 3Q 2023). Revenue: CN¥323.4m (up 23% from 3Q 2023). Net income: CN¥15.4m (up 11% from 3Q 2023). Profit margin: 4.8% (down from 5.3% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥6.30, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 24x in the Electronic industry in China. Total returns to shareholders of 13% over the past three years. Tillkännagivande • Sep 30
Anhui Tongfeng Electronics Company Limited to Report Q3, 2024 Results on Oct 26, 2024 Anhui Tongfeng Electronics Company Limited announced that they will report Q3, 2024 results on Oct 26, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥5.97, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 21x in the Electronic industry in China. Total returns to shareholders of 7.4% over the past three years. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: CN¥0.035 (vs CN¥0.036 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.035. Revenue: CN¥326.6m (up 18% from 2Q 2023). Net income: CN¥22.4m (up 9.4% from 2Q 2023). Profit margin: 6.9% (down from 7.4% in 2Q 2023). 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 18% growth forecast for the Electronic industry in China. Buy Or Sell Opportunity • Jul 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to CN¥4.82. The fair value is estimated to be CN¥6.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.6% over the last 3 years. Earnings per share has grown by 29%. Revenue is forecast to grow by 35% in 2 years. Earnings are forecast to grow by 108% in the next 2 years. Tillkännagivande • Jun 28
Anhui Tongfeng Electronics Company Limited to Report First Half, 2024 Results on Aug 17, 2024 Anhui Tongfeng Electronics Company Limited announced that they will report first half, 2024 results on Aug 17, 2024 Reported Earnings • Apr 20
First quarter 2024 earnings released: EPS: CN¥0.039 (vs CN¥0.04 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.039. Revenue: CN¥312.5m (up 20% from 1Q 2023). Net income: CN¥24.2m (up 8.5% from 1Q 2023). Profit margin: 7.7% (down from 8.5% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in China. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥4.96, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 21x in the Electronic industry in China. Total loss to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥2.41 per share. Tillkännagivande • Mar 29
Anhui Tongfeng Electronics Company Limited to Report Q1, 2024 Results on Apr 20, 2024 Anhui Tongfeng Electronics Company Limited announced that they will report Q1, 2024 results on Apr 20, 2024 Tillkännagivande • Mar 19
Anhui Tongfeng Electronics Company Limited, Annual General Meeting, Apr 09, 2024 Anhui Tongfeng Electronics Company Limited, Annual General Meeting, Apr 09, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Tongling, Anhui China Reported Earnings • Mar 19
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.15 (up from CN¥0.13 in FY 2022). Revenue: CN¥1.08b (up 4.1% from FY 2022). Net income: CN¥86.7m (up 17% from FY 2022). Profit margin: 8.0% (up from 7.1% in FY 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 10%. Earnings per share (EPS) also missed analyst estimates by 21%. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥5.48, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 20x in the Electronic industry in China. Total loss to shareholders of 4.5% over the past three years. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥5.26, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 17x in the Electronic industry in China. Total returns to shareholders of 10% over the past three years. Tillkännagivande • Dec 30
Anhui Tongfeng Electronics Company Limited to Report Fiscal Year 2023 Results on Mar 19, 2024 Anhui Tongfeng Electronics Company Limited announced that they will report fiscal year 2023 results on Mar 19, 2024 Reported Earnings • Oct 21
Third quarter 2023 earnings released: EPS: CN¥0.019 (vs CN¥0.023 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.019. Revenue: CN¥262.1m (flat on 3Q 2022). Net income: CN¥13.9m (up 6.4% from 3Q 2022). Profit margin: 5.3% (up from 4.9% in 3Q 2022). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in China. Tillkännagivande • Sep 30
Anhui Tongfeng Electronics Company Limited to Report Q3, 2023 Results on Oct 21, 2023 Anhui Tongfeng Electronics Company Limited announced that they will report Q3, 2023 results on Oct 21, 2023 Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: CN¥0.036 (vs CN¥0.033 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.036 (up from CN¥0.033 in 2Q 2022). Revenue: CN¥275.8m (up 2.2% from 2Q 2022). Net income: CN¥20.5m (up 10% from 2Q 2022). Profit margin: 7.4% (up from 6.9% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. New Risk • Aug 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 10% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Tillkännagivande • Jun 28
Anhui Tongfeng Electronics Company Limited to Report First Half, 2023 Results on Aug 30, 2023 Anhui Tongfeng Electronics Company Limited announced that they will report first half, 2023 results on Aug 30, 2023 Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥7.11, the stock trades at a trailing P/E ratio of 57.2x. Average trailing P/E is 35x in the Electronic industry in China. Total returns to shareholders of 104% over the past three years. Board Change • Nov 16
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 7 new directors. 3 experienced directors. 1 highly experienced director. 3 independent directors (5 non-independent directors). Equipment Head of Locomotive Power Capacitor Factory & Employee Rep. of the Supervisory Board Yunkai Huang is the most experienced director on the board, commencing their role in 2012. Independent Director Wen Ping Ye was the last independent director to join the board, commencing their role in 2020. 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. Reported Earnings • Oct 29
Third quarter 2022 earnings released Third quarter 2022 results: EPS: CN¥0.023. Net income: CN¥13.0m (up CN¥13.0m from 3Q 2021). Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 31
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥6.57, the stock trades at a trailing P/E ratio of 59x. Average trailing P/E is 35x in the Electronic industry in China. Total returns to shareholders of 61% over the past three years. Buying Opportunity • Aug 31
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.4%. The fair value is estimated to be CN¥8.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Aug 20
Second quarter 2022 earnings released: EPS: CN¥0.033 (vs CN¥0.03 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.033 (up from CN¥0.03 in 2Q 2021). Revenue: CN¥269.8m (up 8.5% from 2Q 2021). Net income: CN¥18.5m (up 9.6% from 2Q 2021). Profit margin: 6.9% (up from 6.8% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. 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. 12 experienced directors. No highly experienced directors. Independent Director Dong Hua Wen was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Apr 02
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. 12 experienced directors. No highly experienced directors. Independent Director Dong Hua Wen was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Mar 10
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: CN¥0.091 (up from CN¥0.01 in FY 2020). Revenue: CN¥1.00b (up 18% from FY 2020). Net income: CN¥51.2m (up CN¥43.2m from FY 2020). Profit margin: 5.1% (up from 0.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 26
Third quarter 2021 earnings released: EPS CN¥0.01 (vs CN¥0.017 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¥241.1m (up 1.1% from 3Q 2020). Net income: CN¥5.66m (down 42% from 3Q 2020). Profit margin: 2.3% (down from 4.1% 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 7% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS CN¥0.019 (vs CN¥0.002 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥253.6m (up 32% from 2Q 2020). Net income: CN¥10.7m (up CN¥9.81m from 2Q 2020). Profit margin: 4.2% (up from 0.4% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Reported Earnings • Apr 28
First quarter 2021 earnings released: EPS CN¥0.03 (vs CN¥0.01 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥248.7m (up 30% from 1Q 2020). Net income: CN¥16.9m (up CN¥22.3m from 1Q 2020). Profit margin: 6.8% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Jan 20
New 90-day high: CN¥5.68 The company is up 31% from its price of CN¥4.35 on 22 October 2020. The Chinese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 8.0% over the same period. Is New 90 Day High Low • Dec 04
New 90-day high: CN¥5.05 The company is up 14% from its price of CN¥4.43 on 04 September 2020. The Chinese market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 1.0% over the same period. Reported Earnings • Oct 28
Third quarter earnings released Over the last 12 months the company has reported total losses of CN¥126.8m, with losses widening by CN¥109.8m from the prior year. Total revenue was CN¥836.2m over the last 12 months, largely unchanged from the prior year. Tillkännagivande • Jul 09
Anhui Tongfeng Electronics Company Limited to Report First Half, 2020 Results on Aug 26, 2020 Anhui Tongfeng Electronics Company Limited announced that they will report first half, 2020 results on Aug 26, 2020