Major Estimate Revision • May 04
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CN¥1.96b to CN¥1.91b. EPS estimate also fell from CN¥2.61 per share to CN¥2.22 per share. Net income forecast to grow 58% next year vs 58% growth forecast for Chemicals industry in China. Consensus price target broadly unchanged at CN¥64.00. Share price was steady at CN¥53.75 over the past week. New Risk • Apr 28
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 30% 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 105% Paying a dividend despite having no free cash flows. High level of non-cash earnings (30% accrual ratio). Reported Earnings • Apr 28
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: EPS: CN¥0.10 (down from CN¥0.47 in 1Q 2025). Revenue: CN¥358.9m (down 15% from 1Q 2025). Net income: CN¥10.1m (down 80% from 1Q 2025). Profit margin: 2.8% (down from 12% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 85%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Chemicals industry in China. Major Estimate Revision • Apr 07
Consensus EPS estimates fall by 17%, revenue upgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from CN¥2.14b to CN¥2.23b. EPS estimate fell from CN¥2.87 to CN¥2.38 per share. Net income forecast to grow 22% next year vs 50% growth forecast for Chemicals industry in China. Consensus price target broadly unchanged at CN¥63.12. Share price rose 3.4% to CN¥47.88 over the past week. Duyuru • Mar 31
MEGA P&C Advanced Materials (Shanghai) Company Limited, Annual General Meeting, Apr 20, 2026 MEGA P&C Advanced Materials (Shanghai) Company Limited, Annual General Meeting, Apr 20, 2026, at 14:30 China Standard Time. Location: 2F, Building 1, No. 1515, Sicheng Road, Malu Town, Jiading District, Shanghai China Duyuru • Mar 30
MEGA P&C Advanced Materials (Shanghai) Company Limited to Report Q1, 2026 Results on Apr 28, 2026 MEGA P&C Advanced Materials (Shanghai) Company Limited announced that they will report Q1, 2026 results on Apr 28, 2026 Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥56.29, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 24x in the Chemicals industry in China. Total returns to shareholders of 47% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥96.74 per share. Duyuru • Dec 26
MEGA P&C Advanced Materials (Shanghai) Company Limited to Report Fiscal Year 2025 Results on Mar 31, 2026 MEGA P&C Advanced Materials (Shanghai) Company Limited announced that they will report fiscal year 2025 results on Mar 31, 2026 Reported Earnings • Oct 24
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: EPS: CN¥0.52 (down from CN¥0.61 in 3Q 2024). Revenue: CN¥461.0m (down 28% from 3Q 2024). Net income: CN¥55.3m (down 16% from 3Q 2024). Profit margin: 12% (up from 10% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 18%. Earnings per share (EPS) missed analyst estimates by 21%. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Duyuru • Sep 30
MEGA P&C Advanced Materials (Shanghai) Company Limited to Report Q3, 2025 Results on Oct 24, 2025 MEGA P&C Advanced Materials (Shanghai) Company Limited announced that they will report Q3, 2025 results on Oct 24, 2025 Reported Earnings • Aug 25
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: EPS: CN¥0.57 (up from CN¥0.43 in 2Q 2024). Revenue: CN¥463.5m (up 1.6% from 2Q 2024). Net income: CN¥60.0m (up 31% from 2Q 2024). Profit margin: 13% (up from 10.0% in 2Q 2024). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 8.8%. Earnings per share (EPS) missed analyst estimates by 40%. Revenue is forecast to stay flat during the next 3 years compared to a 14% growth forecast for the Chemicals industry in China. Price Target Changed • Aug 23
Price target increased by 11% to CN¥60.73 Up from CN¥54.93, the current price target is an average from 3 analysts. New target price is 11% above last closing price of CN¥54.76. Stock is up 97% over the past year. The company is forecast to post earnings per share of CN¥2.24 for next year compared to CN¥1.97 last year. Duyuru • Jun 30
MEGA P&C Advanced Materials (Shanghai) Company Limited to Report First Half, 2025 Results on Aug 22, 2025 MEGA P&C Advanced Materials (Shanghai) Company Limited announced that they will report first half, 2025 results on Aug 22, 2025 Reported Earnings • May 02
First quarter 2025 earnings released: EPS: CN¥0.47 (vs CN¥0.26 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.47 (up from CN¥0.26 in 1Q 2024). Revenue: CN¥424.3m (up 41% from 1Q 2024). Net income: CN¥50.1m (up 77% from 1Q 2024). Profit margin: 12% (up from 9.4% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥50.35, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 22x in the Chemicals industry in China. Total returns to shareholders of 21% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥20.63 per share. Reported Earnings • Mar 30
Full year 2024 earnings: EPS in line with analyst expectations despite revenue beat Full year 2024 results: EPS: CN¥1.97 (up from CN¥1.96 in FY 2023). Revenue: CN¥2.14b (up 88% from FY 2023). Net income: CN¥210.9m (up 26% from FY 2023). Profit margin: 9.9% (down from 15% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Chemicals industry in China. Duyuru • Mar 28
MEGA P&C Advanced Materials (Shanghai) Company Limited to Report Q1, 2025 Results on Apr 29, 2025 MEGA P&C Advanced Materials (Shanghai) Company Limited announced that they will report Q1, 2025 results on Apr 29, 2025 Duyuru • Mar 25
MEGA P&C Advanced Materials (Shanghai) Company Limited, Annual General Meeting, Apr 15, 2025 MEGA P&C Advanced Materials (Shanghai) Company Limited, Annual General Meeting, Apr 15, 2025, at 14:15 China Standard Time. Location: 2F, Building 1, No. 1515, Sicheng Road, Malu Town, Jiading District, Shanghai China Buy Or Sell Opportunity • Feb 21
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 5.0% to CN¥38.46. The fair value is estimated to be CN¥31.86, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 46%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to grow by 98% in the next 2 years. Duyuru • Dec 27
MEGA P&C Advanced Materials (Shanghai) Company Limited to Report Fiscal Year 2024 Results on Mar 25, 2025 MEGA P&C Advanced Materials (Shanghai) Company Limited announced that they will report fiscal year 2024 results on Mar 25, 2025 Major Estimate Revision • Nov 04
Consensus revenue estimates increase by 19% The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from CN¥1.50b to CN¥1.78b. EPS estimate increased from CN¥1.83 to CN¥1.86 per share. Net income forecast to grow 71% next year vs 55% growth forecast for Chemicals industry in China. Consensus price target up from CN¥44.92 to CN¥52.60. Share price was steady at CN¥40.98 over the past week. Reported Earnings • Oct 29
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: CN¥0.61 (up from CN¥0.52 in 3Q 2023). Revenue: CN¥636.1m (up 177% from 3Q 2023). Net income: CN¥66.0m (up 57% from 3Q 2023). Profit margin: 10% (down from 18% in 3Q 2023). Revenue exceeded analyst estimates by 53%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Valuation Update With 7 Day Price Move • Oct 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥37.78, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 18x in the Chemicals industry in China. Simply Wall St's valuation model estimates the intrinsic value at CN¥24.01 per share. Duyuru • Sep 30
MEGA P&C Advanced Materials (Shanghai) Company Limited to Report Q3, 2024 Results on Oct 29, 2024 MEGA P&C Advanced Materials (Shanghai) Company Limited announced that they will report Q3, 2024 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Sep 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥32.01, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the Chemicals industry in China. Simply Wall St's valuation model estimates the intrinsic value at CN¥22.62 per share. Major Estimate Revision • Aug 29
Consensus revenue estimates fall by 15% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥1.54b to CN¥1.30b. EPS estimate fell from CN¥2.15 to CN¥1.76 per share. Net income forecast to grow 59% next year vs 45% growth forecast for Chemicals industry in China. Consensus price target down from CN¥52.08 to CN¥50.09. Share price rose 5.2% to CN¥29.88 over the past week. Duyuru • Jun 28
MEGA P&C Advanced Materials (Shanghai) Company Limited to Report First Half, 2024 Results on Aug 27, 2024 MEGA P&C Advanced Materials (Shanghai) Company Limited announced that they will report first half, 2024 results on Aug 27, 2024 Duyuru • Jun 08
MEGA P&C Advanced Materials (Shanghai) Company Limited (SHSE:603062) announces an Equity Buyback for CNY 70 million worth of its shares. MEGA P&C Advanced Materials (Shanghai) Company Limited (SHSE:603062) announces a share repurchase program. Under the program, the company will repurchase up its own shares for a total of CNY 70 million. The shares will be purchased at a price not exceeding CNY 50 per share. The repurchased shares will be used for the implementation of ESOP or equity incentive plan within 36 months after the company releases the repurchase results and stock changes; or to convert the company's convertible bonds; or to reduce registered capital; or to maintain the company's value and shareholders' rights and interests. If the company fails to use the shares for the above-mentioned purposes within the time limit prescribed by laws and regulations, the unused portion of the repurchased shares shall be cancelled. The program will be funded from company's own funds. The program will be valid for 12 months. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥45.83, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 18x in the Chemicals industry in China. Simply Wall St's valuation model estimates the intrinsic value at CN¥19.31 per share. New Risk • Apr 28
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 38% 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 (38% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (11% net profit margin). Major Estimate Revision • Apr 25
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥1.61b to CN¥1.52b. EPS estimate also fell from CN¥2.94 per share to CN¥2.57 per share. Net income forecast to grow 9.2% next year vs 42% growth forecast for Chemicals industry in China. Consensus price target down from CN¥79.21 to CN¥54.14. Share price fell 4.0% to CN¥36.34 over the past week. Duyuru • Apr 24
MEGA P&C Advanced Materials (Shanghai) Company Limited, Annual General Meeting, May 13, 2024 MEGA P&C Advanced Materials (Shanghai) Company Limited, Annual General Meeting, May 13, 2024, at 15:00 China Standard Time. Location: 2F, Building 1, No. 1515, Sicheng Road, Malu Town, Jiading District, Shanghai China Duyuru • Mar 30
MEGA P&C Advanced Materials (Shanghai) Company Limited to Report Q1, 2024 Results on Apr 23, 2024 MEGA P&C Advanced Materials (Shanghai) Company Limited announced that they will report Q1, 2024 results on Apr 23, 2024 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¥48.98, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Chemicals industry in China. Simply Wall St's valuation model estimates the intrinsic value at CN¥39.88 per share. Buy Or Sell Opportunity • Feb 23
Now 23% overvalued Over the last 90 days, the stock has fallen 27% to CN¥48.98. The fair value is estimated to be CN¥39.88, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 3.8%. Revenue is forecast to grow by 85% in 2 years. Earnings are forecast to grow by 74% in the next 2 years. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥41.01, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 12x in the Chemicals industry in China. Simply Wall St's valuation model estimates the intrinsic value at CN¥37.19 per share. New Risk • Dec 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risk Large one-off items impacting financial results.