Duyuru • Jun 30
Novoray Corporation to Report First Half, 2026 Results on Aug 15, 2026 Novoray Corporation announced that they will report first half, 2026 results on Aug 15, 2026 Declared Dividend • Jun 06
Dividend of CN¥0.50 announced Shareholders will receive a dividend of CN¥0.50. Ex-date: 10th June 2026 Payment date: 10th June 2026 Dividend yield will be 0.3%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but not adequately covered by cash flows (91% cash payout ratio). The dividend has increased by an average of 19% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 38% over the next year, which should provide support to the dividend and adequate earnings cover. Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Fan Wu was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Apr 22
Novoray Corporation, Annual General Meeting, May 18, 2026 Novoray Corporation, Annual General Meeting, May 18, 2026, at 14:00 China Standard Time. Location: 2F, Comprehensive Building, No. 6, Zhujiang Road, Xinpu Economic Development Zone, Haizhou District, Lianyungang, Jiangsu China Duyuru • Mar 30
Novoray Corporation to Report Q1, 2026 Results on Apr 28, 2026 Novoray Corporation announced that they will report Q1, 2026 results on Apr 28, 2026 Duyuru • Dec 26
Novoray Corporation to Report Fiscal Year 2025 Results on Apr 22, 2026 Novoray Corporation announced that they will report fiscal year 2025 results on Apr 22, 2026 Duyuru • Sep 30
Novoray Corporation to Report Q3, 2025 Results on Oct 30, 2025 Novoray Corporation announced that they will report Q3, 2025 results on Oct 30, 2025 Duyuru • Jun 30
Novoray Corporation to Report First Half, 2025 Results on Aug 27, 2025 Novoray Corporation announced that they will report first half, 2025 results on Aug 27, 2025 Duyuru • Mar 28
Novoray Corporation to Report Q1, 2025 Results on Apr 29, 2025 Novoray Corporation announced that they will report Q1, 2025 results on Apr 29, 2025 Duyuru • Mar 26
Novoray Corporation, Annual General Meeting, Apr 17, 2025 Novoray Corporation, Annual General Meeting, Apr 17, 2025, at 14:00 China Standard Time. Location: 3F, Comprehensive Building, No. 6, Zhujiang Road, Xinpu Economic Development Zone, Haizhou District, Lianyungang, Jiangsu China Duyuru • Dec 27
Novoray Corporation to Report Fiscal Year 2024 Results on Mar 26, 2025 Novoray Corporation announced that they will report fiscal year 2024 results on Mar 26, 2025 Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥57.50, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 19x in the Chemicals industry in China. Total returns to shareholders of 23% over the past year. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.37 (vs CN¥0.28 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.37 (up from CN¥0.28 in 3Q 2023). Revenue: CN¥250.4m (up 27% from 3Q 2023). Net income: CN¥67.4m (up 30% from 3Q 2023). Profit margin: 27% (in line with 3Q 2023). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Chemicals industry in China. Duyuru • Sep 30
Novoray Corporation to Report Q3, 2024 Results on Oct 31, 2024 Novoray Corporation announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥44.57, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 16x in the Chemicals industry in China. Total returns to shareholders of 4.8% over the past year. Reported Earnings • Aug 26
Second quarter 2024 earnings released: EPS: CN¥0.35 (vs CN¥0.23 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.35 (up from CN¥0.23 in 2Q 2023). Revenue: CN¥241.1m (up 43% from 2Q 2023). Net income: CN¥65.8m (up 49% from 2Q 2023). Profit margin: 27% (up from 26% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Duyuru • Jun 28
Novoray Corporation to Report First Half, 2024 Results on Aug 26, 2024 Novoray Corporation announced that they will report first half, 2024 results on Aug 26, 2024 Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.28 (vs CN¥0.15 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.28 (up from CN¥0.15 in 1Q 2023). Revenue: CN¥202.3m (up 40% from 1Q 2023). Net income: CN¥51.7m (up 80% from 1Q 2023). Profit margin: 26% (up from 20% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Chemicals industry in China. Duyuru • Mar 29
Novoray Corporation to Report Q1, 2024 Results on Apr 26, 2024 Novoray Corporation announced that they will report Q1, 2024 results on Apr 26, 2024 Duyuru • Mar 26
Novoray Corporation, Annual General Meeting, Apr 19, 2024 Novoray Corporation, Annual General Meeting, Apr 19, 2024, at 13:30 China Standard Time. Location: The Company's Meeting Room, Lianyungang, Jiangsu China Reported Earnings • Mar 26
Full year 2023 earnings released: EPS: CN¥0.94 (vs CN¥1.01 in FY 2022) Full year 2023 results: EPS: CN¥0.94 (down from CN¥1.01 in FY 2022). Revenue: CN¥711.7m (up 7.5% from FY 2022). Net income: CN¥174.0m (down 7.6% from FY 2022). Profit margin: 24% (down from 28% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Chemicals industry in China. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥35.60, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 13x in the Chemicals industry in China. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥57.99, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 16x in the Chemicals industry in China. Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: CN¥0.28 (vs CN¥0.21 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.28 (up from CN¥0.21 in 3Q 2022). Revenue: CN¥196.7m (up 43% from 3Q 2022). Net income: CN¥51.8m (up 33% from 3Q 2022). Profit margin: 26% (down from 28% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Chemicals industry in China. Reported Earnings • Aug 19
Second quarter 2023 earnings released: EPS: CN¥0.23 (vs CN¥0.26 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.23 (down from CN¥0.26 in 2Q 2022). Revenue: CN¥169.1m (down 2.4% from 2Q 2022). Net income: CN¥44.3m (down 11% from 2Q 2022). Profit margin: 26% (down from 29% in 2Q 2022). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Chemicals industry in China. Buying Opportunity • Aug 11
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be CN¥53.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 24%. Revenue is forecast to grow by 76% in 2 years. Earnings is forecast to grow by 94% in the next 2 years. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥51.75, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 16x in the Chemicals industry in China. Simply Wall St's valuation model estimates the intrinsic value at CN¥44.12 per share. Reported Earnings • May 02
First quarter 2023 earnings released: EPS: CN¥0.23 (vs CN¥0.34 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.23 (down from CN¥0.34 in 1Q 2022). Revenue: CN¥145.0m (down 18% from 1Q 2022). Net income: CN¥28.7m (down 33% from 1Q 2022). Profit margin: 20% (down from 24% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Chemicals industry in China. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to CN¥87.58, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 16x in the Chemicals industry in China. Board Change • Mar 15
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Dong Hui Pan was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.