Declared Dividend • Jun 21
Dividend of CN¥0.055 announced Shareholders will receive a dividend of CN¥0.055. Ex-date: 24th June 2026 Payment date: 24th June 2026 Dividend yield will be 0.2%, which is lower than the industry average of 1.7%. Sustainability & Growth The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. Reported Earnings • Apr 30
First quarter 2026 earnings released: EPS: CN¥0.04 (vs CN¥0.039 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.04 (up from CN¥0.039 in 1Q 2025). Revenue: CN¥313.9m (up 36% from 1Q 2025). Net income: CN¥50.2m (up 2.2% from 1Q 2025). Profit margin: 16% (down from 21% in 1Q 2025). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 28% growth forecast for the Semiconductor industry in China. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Duyuru • Mar 30
GRINM Semiconductor Materials Co., Ltd. to Report Q1, 2026 Results on Apr 29, 2026 GRINM Semiconductor Materials Co., Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026 Duyuru • Mar 26
GRINM Semiconductor Materials Co., Ltd., Annual General Meeting, Apr 28, 2026 GRINM Semiconductor Materials Co., Ltd., Annual General Meeting, Apr 28, 2026, at 14:00 China Standard Time. Location: No. 2, Xinjiekouwai Avenue, Xicheng District, Beijing China New Risk • Feb 25
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 7.5% 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 Risk Earnings have declined by 1.6% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.5% average weekly change). New Risk • Feb 09
New major risk - Revenue and earnings growth Earnings have declined by 0.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.5% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Duyuru • Dec 26
GRINM Semiconductor Materials Co., Ltd. to Report Fiscal Year 2025 Results on Mar 27, 2026 GRINM Semiconductor Materials Co., Ltd. announced that they will report fiscal year 2025 results on Mar 27, 2026 Reported Earnings • Oct 28
Third quarter 2025 earnings released: EPS: CN¥0.036 (vs CN¥0.062 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.036 (down from CN¥0.062 in 3Q 2024). Revenue: CN¥255.7m (down 3.9% from 3Q 2024). Net income: CN¥50.1m (down 22% from 3Q 2024). Profit margin: 20% (down from 24% in 3Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 27% growth forecast for the Semiconductor industry in China. Duyuru • Sep 30
GRINM Semiconductor Materials Co., Ltd. to Report Q3, 2025 Results on Oct 28, 2025 GRINM Semiconductor Materials Co., Ltd. announced that they will report Q3, 2025 results on Oct 28, 2025 Reported Earnings • Aug 17
Second quarter 2025 earnings released: EPS: CN¥0.052 (vs CN¥0.055 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.052 (down from CN¥0.055 in 2Q 2024). Revenue: CN¥260.1m (down 4.5% from 2Q 2024). Net income: CN¥57.0m (down 23% from 2Q 2024). Profit margin: 22% (down from 27% in 2Q 2024). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Semiconductor industry in China. Duyuru • Jun 30
GRINM Semiconductor Materials Co., Ltd. to Report First Half, 2025 Results on Aug 14, 2025 GRINM Semiconductor Materials Co., Ltd. announced that they will report first half, 2025 results on Aug 14, 2025 New Risk • Apr 07
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 7.8% 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 (dividend per share is over 8x cash flows per share). Share price has been volatile over the past 3 months (7.8% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥9.75, the stock trades at a trailing P/E ratio of 52.1x. Average trailing P/E is 66x in the Semiconductor industry in China. Total returns to shareholders of 1.9% over the past year. Reported Earnings • Apr 02
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.19 (down from CN¥0.20 in FY 2023). Revenue: CN¥995.9m (up 3.7% from FY 2023). Net income: CN¥232.9m (down 8.4% from FY 2023). Profit margin: 23% (down from 27% in FY 2023). Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 17%. Duyuru • Mar 31
GRINM Semiconductor Materials Co., Ltd., Annual General Meeting, Apr 25, 2025 GRINM Semiconductor Materials Co., Ltd., Annual General Meeting, Apr 25, 2025, at 14:00 China Standard Time. Location: No. 2, Xinjiekouwai Avenue, Xicheng District, Beijing China Duyuru • Mar 28
GRINM Semiconductor Materials Co., Ltd. to Report Q1, 2025 Results on Apr 24, 2025 GRINM Semiconductor Materials Co., Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025 Duyuru • Mar 06
GRINM Semiconductor Materials Co., Ltd. (SHSE:688432) signed a letter of intent to acquire 60% stake in Gaopin (Beijing) Technology Co., Ltd. from Xu Youzhi, Wang Xia and Wang Xiao. GRINM Semiconductor Materials Co., Ltd. (SHSE:688432) signed a letter of intent to acquire 60% stake in Gaopin (Beijing) Technology Co., Ltd. from Xu Youzhi, Wang Xia and Wang Xiao on March 5, 2025. A cash consideration will be paid by GRINM Semiconductor Materials Co., Ltd. GRINM Semiconductor will use its internal resources or external financing to fund the acquisition.
The transaction is subject to approval by regulatory board / committee, approval of offer by acquirer shareholders, approval of offer by acquirer board and consummation of due diligence investigation. Duyuru • Dec 27
GRINM Semiconductor Materials Co., Ltd. to Report Fiscal Year 2024 Results on Mar 31, 2025 GRINM Semiconductor Materials Co., Ltd. announced that they will report fiscal year 2024 results on Mar 31, 2025 Duyuru • Nov 04
GRINM Semiconductor Materials Co., Ltd. (SHSE:688432) agreed to acquire 70% stake in DG Technologies, Inc. from RS Technologies Co., Ltd. (TSE:3445). GRINM Semiconductor Materials Co., Ltd. (SHSE:688432) agreed to acquire 70% stake in DG Technologies, Inc. from RS Technologies Co., Ltd. (TSE:3445) on November 2, 2024. A cash consideration will be paid by GRINM Semiconductor Materials Co., Ltd. Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.062 (vs CN¥0.05 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.062 (up from CN¥0.05 in 3Q 2023). Revenue: CN¥265.9m (up 2.4% from 3Q 2023). Net income: CN¥64.2m (up 5.7% from 3Q 2023). Profit margin: 24% (in line with 3Q 2023). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Semiconductor industry in China. Board Change • Oct 18
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Sone Shika was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Sep 30
GRINM Semiconductor Materials Co., Ltd. to Report Q3, 2024 Results on Oct 30, 2024 GRINM Semiconductor Materials Co., Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to CN¥11.62, the stock trades at a forward P/E ratio of 46x. Average forward P/E is 29x in the Semiconductor industry in China. Total loss to shareholders of 16% over the past year. Major Estimate Revision • Aug 13
Consensus revenue estimates fall by 17% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥1.38b to CN¥1.14b. EPS estimate fell from CN¥0.29 to CN¥0.23 per share. Net income forecast to grow 30% next year vs 55% growth forecast for Semiconductor industry in China. Consensus price target down from CN¥13.00 to CN¥11.00. Share price was steady at CN¥9.19 over the past week. Duyuru • Jun 29
GRINM Semiconductor Materials Co., Ltd. to Report First Half, 2024 Results on Aug 10, 2024 GRINM Semiconductor Materials Co., Ltd. announced that they will report first half, 2024 results on Aug 10, 2024 Duyuru • May 08
GRINM Semiconductor Materials Co., Ltd., Annual General Meeting, May 27, 2024 GRINM Semiconductor Materials Co., Ltd., Annual General Meeting, May 27, 2024, at 14:00 China Standard Time. Location: No. 57, Beisanhuan Middle Road, Haidian District , Beijing China Reported Earnings • Apr 27
First quarter 2024 earnings released: EPS: CN¥0.05 (vs CN¥0.06 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.05 (down from CN¥0.06 in 1Q 2023). Revenue: CN¥234.7m (down 9.1% from 1Q 2023). Net income: CN¥56.4m (down 27% from 1Q 2023). Profit margin: 24% (down from 30% in 1Q 2023). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Semiconductor industry in China. Duyuru • Mar 29
GRINM Semiconductor Materials Co., Ltd. to Report Q1, 2024 Results on Apr 26, 2024 GRINM Semiconductor Materials Co., Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Duyuru • Feb 22
GRINM Semiconductor Materials Co., Ltd. (SHSE:688432) announces an Equity Buyback for CNY 60 million worth of its shares. GRINM Semiconductor Materials Co., Ltd. (SHSE:688432) announces a share repurchase program. Under the program, the company will repurchase up to CNY 60 million worth of its class A shares. The shares will be repurchased at a price of not more than CNY 15.53 per share. The purpose of the program is using it for the ESOP or equity incentives and maintaining company value and shareholders’ equity. The repurchase period will be not more than 12 months. Reported Earnings • Feb 09
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.20 (down from CN¥0.32 in FY 2022). Revenue: CN¥960.4m (down 18% from FY 2022). Net income: CN¥254.2m (down 28% from FY 2022). Profit margin: 27% (down from 30% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 29%. Earnings per share (EPS) also missed analyst estimates by 35%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Semiconductor industry in China. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥8.58, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 25x in the Semiconductor industry in China. Total loss to shareholders of 46% over the past year. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.05 (vs CN¥0.10 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.05 (down from CN¥0.10 in 3Q 2022). Revenue: CN¥259.7m (down 16% from 3Q 2022). Net income: CN¥60.7m (down 42% from 3Q 2022). Profit margin: 23% (down from 34% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Semiconductor industry in China. New Risk • Aug 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 27% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: CN¥0.07 (vs CN¥0.11 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.07 (down from CN¥0.11 in 2Q 2022). Revenue: CN¥272.5m (down 18% from 2Q 2022). Net income: CN¥84.2m (down 31% from 2Q 2022). Profit margin: 31% (down from 37% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Semiconductor industry in China. Duyuru • Jun 28
GRINM Semiconductor Materials Co., Ltd. to Report First Half, 2023 Results on Aug 10, 2023 GRINM Semiconductor Materials Co., Ltd. announced that they will report first half, 2023 results on Aug 10, 2023 Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥16.68, the stock trades at a trailing P/E ratio of 59.2x. Average trailing P/E is 62x in the Semiconductor industry in China. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥20.79, the stock trades at a trailing P/E ratio of 73.8x. Average trailing P/E is 69x in the Semiconductor industry in China. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥15.75, the stock trades at a trailing P/E ratio of 55.7x. Average trailing P/E is 54x in the Semiconductor industry in China. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥13.52, the stock trades at a trailing P/E ratio of 47.8x. Average trailing P/E is 51x in the Semiconductor industry in China. 