New Risk • May 05
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 7.9% 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 (93% cash payout ratio). Share price has been volatile over the past 3 months (7.9% average weekly change). Price Target Changed • Apr 29
Price target increased by 10% to CN¥57.93 Up from CN¥52.60, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of CN¥59.32. Stock is up 239% over the past year. The company is forecast to post earnings per share of CN¥3.52 for next year compared to CN¥0.71 last year. Reported Earnings • Apr 28
First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2026 results: EPS: CN¥0.82 (up from CN¥0.08 in 1Q 2025). Revenue: CN¥6.67b (up 91% from 1Q 2025). Net income: CN¥1.65b (up CN¥1.50b from 1Q 2025). Profit margin: 25% (up from 4.3% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 20%. Earnings per share (EPS) exceeded analyst estimates by 39%. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Mar 31
Guangzhou Tinci Materials Technology Co., Ltd. to Report Q1, 2026 Results on Apr 27, 2026 Guangzhou Tinci Materials Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 27, 2026 Major Estimate Revision • Mar 16
Consensus revenue estimates increase by 24% The consensus outlook for revenues in fiscal year 2026 has improved. 2026 revenue forecast increased from CN¥26.8b to CN¥33.3b. EPS estimate increased from CN¥1.24 to CN¥2.11 per share. Net income forecast to grow 203% next year vs 47% growth forecast for Chemicals industry in China. Consensus price target down from CN¥54.64 to CN¥52.60. Share price rose 12% to CN¥48.77 over the past week. Board Change • Mar 12
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 3 highly experienced directors. Independent Director Jianqing Zhao was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Mar 11
Price target decreased by 7.7% to CN¥50.46 Down from CN¥54.64, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of CN¥48.79. Stock is up 138% over the past year. The company is forecast to post earnings per share of CN¥2.11 for next year compared to CN¥0.71 last year. Reported Earnings • Mar 10
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: CN¥0.71 (up from CN¥0.25 in FY 2024). Revenue: CN¥16.6b (up 33% from FY 2024). Net income: CN¥1.36b (up 181% from FY 2024). Profit margin: 8.2% (up from 3.9% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) also surpassed analyst estimates by 28%. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Announcement • Mar 09
Guangzhou Tinci Materials Technology Co., Ltd., Annual General Meeting, Mar 31, 2026 Guangzhou Tinci Materials Technology Co., Ltd., Annual General Meeting, Mar 31, 2026, at 14:30 China Standard Time. Location: The Company's Training Room, Guangzhou, Guangdong China Major Estimate Revision • Jan 09
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from CN¥15.4b to CN¥15.6b. EPS estimate increased from CN¥0.468 to CN¥0.528 per share. Net income forecast to grow 195% next year vs 49% growth forecast for Chemicals industry in China. Consensus price target up from CN¥51.82 to CN¥54.50. Share price fell 4.1% to CN¥44.44 over the past week. Announcement • Dec 31
Guangzhou Tinci Materials Technology Co., Ltd. to Report Fiscal Year 2025 Results on Mar 10, 2026 Guangzhou Tinci Materials Technology Co., Ltd. announced that they will report fiscal year 2025 results on Mar 10, 2026 Announcement • Nov 20
Guangzhou Tinci Materials Technology Co., Ltd. Proposes Cash Dividend for the Third Quarter of 2025 Guangzhou Tinci Materials Technology Co., Ltd. at its Extraordinary General Meeting of 2025 to be held on 09 December 2025, proposed cash dividend/10 shares (tax included) of CNY 0.50000000 for the third quarter of 2025. New Risk • Nov 13
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 9.5% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. This is currently the only risk that has been identified for the company. Reported Earnings • Oct 31
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: CN¥0.08 (up from CN¥0.06 in 3Q 2024). Revenue: CN¥3.81b (up 12% from 3Q 2024). Net income: CN¥152.7m (up 52% from 3Q 2024). Profit margin: 4.0% (up from 3.0% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) also missed analyst estimates by 47%. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Announcement • Sep 30
Guangzhou Tinci Materials Technology Co., Ltd. to Report Q3, 2025 Results on Oct 25, 2025 Guangzhou Tinci Materials Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 25, 2025 New Risk • Sep 23
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 7.0% 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 Share price has been volatile over the past 3 months (7.0% average weekly change). Profit margins are more than 30% lower than last year (3.6% net profit margin). Price Target Changed • Sep 17
Price target increased by 7.4% to CN¥22.08 Up from CN¥20.55, the current price target is an average from 7 analysts. New target price is 26% below last closing price of CN¥29.68. Stock is up 124% over the past year. The company is forecast to post earnings per share of CN¥0.45 for next year compared to CN¥0.25 last year. Price Target Changed • Aug 20
Price target decreased by 7.4% to CN¥20.31 Down from CN¥21.93, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of CN¥20.67. Stock is up 45% over the past year. The company is forecast to post earnings per share of CN¥0.45 for next year compared to CN¥0.25 last year. Reported Earnings • Aug 20
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: EPS: CN¥0.06 (in line with 2Q 2024). Revenue: CN¥3.54b (up 19% from 2Q 2024). Net income: CN¥118.3m (down 3.9% from 2Q 2024). Profit margin: 3.3% (down from 4.1% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) missed analyst estimates by 57%. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Chemicals industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 49 percentage points per year, which is a significant difference in performance. Announcement • Jul 02
Guangzhou Tinci Materials Technology Co., Ltd. to Report First Half, 2025 Results on Aug 19, 2025 Guangzhou Tinci Materials Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 19, 2025 Price Target Changed • Apr 24
Price target increased by 20% to CN¥22.43 Up from CN¥18.63, the current price target is an average from 6 analysts. New target price is 32% above last closing price of CN¥17.05. Stock is down 16% over the past year. The company is forecast to post earnings per share of CN¥0.52 for next year compared to CN¥0.25 last year. New Risk • Apr 24
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 11% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (338% cash payout ratio). Profit margins are more than 30% lower than last year (3.8% net profit margin). Major Estimate Revision • Apr 23
Consensus EPS estimates fall by 17%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from CN¥17.2b to CN¥18.4b. EPS estimate fell from CN¥0.69 to CN¥0.57 per share. Net income forecast to grow 170% next year vs 48% growth forecast for Chemicals industry in China. Consensus price target of CN¥19.33 unchanged from last update. Share price rose 2.2% to CN¥17.19 over the past week. Announcement • Apr 16
Guangzhou Tinci Materials Technology Co., Ltd. Proposes Final Cash Dividend for the Year 2024 Guangzhou Tinci Materials Technology Co., Ltd. announced on 15 April 2025 the profit distribution proposal for 2024 as Cash dividend/10 shares (tax included): CNY 1.00000000. Reported Earnings • Apr 15
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: CN¥0.25 (down from CN¥0.99 in FY 2023). Revenue: CN¥12.5b (down 19% from FY 2023). Net income: CN¥483.9m (down 74% from FY 2023). Profit margin: 3.9% (down from 12% in FY 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.0%. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Announcement • Apr 15
Guangzhou Tinci Materials Technology Co., Ltd., Annual General Meeting, May 08, 2025 Guangzhou Tinci Materials Technology Co., Ltd., Annual General Meeting, May 08, 2025, at 14:30 China Standard Time. Location: The Company's Training Room, Guangzhou, Guangdong China Announcement • Mar 31
Guangzhou Tinci Materials Technology Co., Ltd. to Report Q1, 2025 Results on Apr 23, 2025 Guangzhou Tinci Materials Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 23, 2025 Buy Or Sell Opportunity • Feb 06
Now 25% overvalued Over the last 90 days, the stock has fallen 14% to CN¥19.02. The fair value is estimated to be CN¥15.21, 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 26%. Revenue is forecast to grow by 64% in 2 years. Earnings are forecast to grow by 265% in the next 2 years. Buy Or Sell Opportunity • Jan 14
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to CN¥18.61. The fair value is estimated to be CN¥15.27, 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 26%. Revenue is forecast to grow by 64% in 2 years. Earnings are forecast to grow by 264% in the next 2 years. Announcement • Jan 07
Guangzhou Tinci Materials Technology Co., Ltd. (SZSE:002709) announces an Equity Buyback for CNY 200 million worth of its shares. Guangzhou Tinci Materials Technology Co., Ltd. (SZSE:002709) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its A shares. The shares will be purchased at a price not exceeding CNY 25 per share. The repurchased shares will be used to maintain the company's value and shareholders' interests. The program will be funded using company's own funds and self-financing, including special loans from industrial banks. The program is valid for 3 months. Announcement • Dec 31
Guangzhou Tinci Materials Technology Co., Ltd. to Report Fiscal Year 2024 Results on Apr 15, 2025 Guangzhou Tinci Materials Technology Co., Ltd. announced that they will report fiscal year 2024 results on Apr 15, 2025 New Risk • Nov 11
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 10% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 119% Cash payout ratio: 119% Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.9% net profit margin). Major Estimate Revision • Nov 01
Consensus EPS estimates fall by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥13.8b to CN¥12.5b. EPS estimate also fell from CN¥0.356 per share to CN¥0.295 per share. Net income forecast to grow 154% next year vs 57% growth forecast for Chemicals industry in China. Consensus price target down from CN¥19.01 to CN¥18.18. Share price was steady at CN¥18.35 over the past week. New Risk • Oct 28
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 25% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 119% Cash payout ratio: 119% Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.9% net profit margin). Reported Earnings • Oct 26
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: EPS: CN¥0.06 (down from CN¥0.24 in 3Q 2023). Revenue: CN¥3.41b (down 18% from 3Q 2023). Net income: CN¥100.8m (down 78% from 3Q 2023). Profit margin: 3.0% (down from 11% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 6.3%. Earnings per share (EPS) missed analyst estimates by 61%. 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. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has fallen by 39% per year, which means it is performing significantly worse than earnings. New Risk • Oct 26
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 119% Cash payout ratio: 119% Dividend yield: 1.6% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 119% Cash payout ratio: 119% Minor Risk Profit margins are more than 30% lower than last year (3.9% net profit margin). Buy Or Sell Opportunity • Oct 25
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 21% to CN¥18.72. The fair value is estimated to be CN¥15.08, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 4.3%. Revenue is forecast to grow by 51% in 2 years. Earnings are forecast to grow by 111% in the next 2 years. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to CN¥16.23, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 16x in the Chemicals industry in China. Total loss to shareholders of 76% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥15.01 per share. Announcement • Sep 30
Guangzhou Tinci Materials Technology Co., Ltd. to Report Q3, 2024 Results on Oct 26, 2024 Guangzhou Tinci Materials Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 26, 2024 Buy Or Sell Opportunity • Sep 30
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 7.8% to CN¥18.52. The fair value is estimated to be CN¥15.01, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 4.3%. Revenue is forecast to grow by 51% in 2 years. Earnings are forecast to grow by 111% in the next 2 years. New Risk • Sep 27
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 7.0% 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 (117% cash payout ratio). Share price has been volatile over the past 3 months (7.0% average weekly change). Profit margins are more than 30% lower than last year (6.5% net profit margin). Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to CN¥16.84, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 16x in the Chemicals industry in China. Total loss to shareholders of 77% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥14.89 per share. Major Estimate Revision • Sep 03
Consensus EPS estimates fall by 35% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥14.9b to CN¥14.4b. EPS estimate also fell from CN¥0.569 per share to CN¥0.368 per share. Net income forecast to grow 38% next year vs 46% growth forecast for Chemicals industry in China. Consensus price target down from CN¥20.35 to CN¥18.21. Share price rose 5.4% to CN¥14.32 over the past week. Price Target Changed • Aug 29
Price target decreased by 7.4% to CN¥18.85 Down from CN¥20.35, the current price target is an average from 10 analysts. New target price is 35% above last closing price of CN¥13.99. Stock is down 57% over the past year. The company is forecast to post earnings per share of CN¥0.26 for next year compared to CN¥0.99 last year. Reported Earnings • Aug 28
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: CN¥0.06 (down from CN¥0.32 in 2Q 2023). Revenue: CN¥2.99b (down 19% from 2Q 2023). Net income: CN¥123.1m (down 79% from 2Q 2023). Profit margin: 4.1% (down from 16% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 58%. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 40% per year, which means it is performing significantly worse than earnings. Buy Or Sell Opportunity • Jul 02
Now 32% undervalued after recent price drop Over the last 90 days, the stock has fallen 28% to CN¥17.18. The fair value is estimated to be CN¥25.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 54% in 2 years. Earnings are forecast to grow by 76% in the next 2 years. Announcement • Jun 29
Guangzhou Tinci Materials Technology Co., Ltd. to Report First Half, 2024 Results on Aug 28, 2024 Guangzhou Tinci Materials Technology Co., Ltd. announced that they will report first half, 2024 results on Aug 28, 2024 Buy Or Sell Opportunity • Jun 20
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.7% to CN¥18.84. The fair value is estimated to be CN¥23.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 54% in 2 years. Earnings are forecast to grow by 76% in the next 2 years. Major Estimate Revision • Jun 19
Consensus EPS estimates fall by 18% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥15.8b to CN¥14.8b. EPS estimate also fell from CN¥0.763 per share to CN¥0.629 per share. Net income forecast to grow 15% next year vs 50% growth forecast for Chemicals industry in China. Consensus price target broadly unchanged at CN¥21.21. Share price rose 5.5% to CN¥20.04 over the past week. Buy Or Sell Opportunity • Jun 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.8% to CN¥18.80. The fair value is estimated to be CN¥23.51, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 57% in 2 years. Earnings are forecast to grow by 91% in the next 2 years. New Risk • May 29
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 8.5% 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: Minor Risks Dividend is not well covered by cash flows (141% cash payout ratio). Share price has been volatile over the past 3 months (8.5% average weekly change). Profit margins are more than 30% lower than last year (9.7% net profit margin). Reported Earnings • Apr 27
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: CN¥0.06 (down from CN¥0.36 in 1Q 2023). Revenue: CN¥2.46b (down 43% from 1Q 2023). Net income: CN¥114.4m (down 84% from 1Q 2023). Profit margin: 4.6% (down from 16% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 30%. Earnings per share (EPS) also missed analyst estimates by 57%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥20.43, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 16x in the Chemicals industry in China. Total loss to shareholders of 32% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥23.80 per share. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥23.20, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 15x in the Chemicals industry in China. Total loss to shareholders of 6.0% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥23.72 per share. Announcement • Mar 30
Guangzhou Tinci Materials Technology Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Guangzhou Tinci Materials Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Announcement • Mar 26
Guangzhou Tinci Materials Technology Co., Ltd., Annual General Meeting, Apr 16, 2024 Guangzhou Tinci Materials Technology Co., Ltd., Annual General Meeting, Apr 16, 2024, at 14:30 China Standard Time. Location: The Company's Training Room, Guangzhou, Guangdong China Major Estimate Revision • Mar 26
Consensus revenue estimates fall by 22% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥20.3b to CN¥15.8b. EPS estimate fell from CN¥1.51 to CN¥0.845 per share. Net income forecast to shrink 16% next year vs 55% growth forecast for Chemicals industry in China . Consensus price target down from CN¥24.25 to CN¥21.87. Share price fell 2.4% to CN¥22.02 over the past week. Price Target Changed • Mar 13
Price target decreased by 11% to CN¥24.09 Down from CN¥27.08, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of CN¥23.02. Stock is down 44% over the past year. The company is forecast to post earnings per share of CN¥1.51 for next year compared to CN¥1.00 last year. New Risk • Feb 28
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 12% Last year net profit margin: 26% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (12% net profit margin). Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: CN¥1.00 (vs CN¥2.99 in FY 2022) Full year 2023 results: EPS: CN¥1.00 (down from CN¥2.99 in FY 2022). Revenue: CN¥15.5b (down 31% from FY 2022). Net income: CN¥1.91b (down 67% from FY 2022). Profit margin: 12% (down from 26% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Feb 05
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 40% to CN¥16.63. The fair value is estimated to be CN¥21.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 52% over the last 3 years. Earnings per share has grown by 56%. Revenue is forecast to grow by 37% in 2 years. Earnings are forecast to grow by 20% in the next 2 years. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥18.31, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Chemicals industry in China. Total loss to shareholders of 34% over the past three years. New Risk • Jan 22
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 6.0% 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 High level of non-cash earnings (27% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.0% average weekly change). Announcement • Dec 30
Guangzhou Tinci Materials Technology Co., Ltd. to Report Fiscal Year 2023 Results on Mar 26, 2024 Guangzhou Tinci Materials Technology Co., Ltd. announced that they will report fiscal year 2023 results on Mar 26, 2024 Price Target Changed • Nov 22
Price target decreased by 8.4% to CN¥36.23 Down from CN¥39.57, the current price target is an average from 10 analysts. New target price is 38% above last closing price of CN¥26.23. Stock is down 41% over the past year. The company is forecast to post earnings per share of CN¥1.47 for next year compared to CN¥2.99 last year. Major Estimate Revision • Nov 03
Consensus revenue estimates decrease by 11%, EPS upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from CN¥20.5b to CN¥18.2b. EPS estimate increased from CN¥1.65 to CN¥1.82 per share. Net income forecast to grow 32% next year vs 73% growth forecast for Chemicals industry in China. Consensus price target broadly unchanged at CN¥39.59. Share price was steady at CN¥27.17 over the past week. Reported Earnings • Oct 31
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: CN¥0.24 (down from CN¥0.76 in 3Q 2022). Revenue: CN¥4.14b (down 32% from 3Q 2022). Net income: CN¥463.4m (down 68% from 3Q 2022). Profit margin: 11% (down from 24% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 37%. Earnings per share (EPS) also missed analyst estimates by 33%. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Price Target Changed • Sep 19
Price target decreased by 7.1% to CN¥39.57 Down from CN¥42.61, the current price target is an average from 10 analysts. New target price is 39% above last closing price of CN¥28.49. Stock is down 39% over the past year. The company is forecast to post earnings per share of CN¥1.84 for next year compared to CN¥2.99 last year. Major Estimate Revision • Sep 08
Consensus EPS estimates increase by 10%, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from CN¥22.4b to CN¥22.0b. EPS estimate rose from CN¥1.70 to CN¥1.87. Net income forecast to shrink 3.4% next year vs 57% growth forecast for Chemicals industry in China . Consensus price target down from CN¥42.88 to CN¥41.61. Share price fell 11% to CN¥29.33 over the past week. Major Estimate Revision • Aug 21
Consensus EPS estimates fall by 25% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥24.7b to CN¥22.9b. EPS estimate also fell from CN¥2.20 per share to CN¥1.66 per share. Net income forecast to shrink 1.9% next year vs 52% growth forecast for Chemicals industry in China . Consensus price target down from CN¥47.18 to CN¥42.88. Share price fell 4.4% to CN¥34.86 over the past week. Price Target Changed • Aug 17
Price target decreased by 9.1% to CN¥42.88 Down from CN¥47.18, the current price target is an average from 11 analysts. New target price is 20% above last closing price of CN¥35.80. Stock is down 36% over the past year. The company is forecast to post earnings per share of CN¥1.67 for next year compared to CN¥2.99 last year. Reported Earnings • Aug 15
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: CN¥0.32 (down from CN¥0.73 in 2Q 2022). Revenue: CN¥3.67b (down 30% from 2Q 2022). Net income: CN¥593.6m (down 58% from 2Q 2022). Profit margin: 16% (down from 27% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 38%. Earnings per share (EPS) also missed analyst estimates by 23%. 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. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jul 17
Price target decreased by 8.1% to CN¥47.54 Down from CN¥51.74, the current price target is an average from 11 analysts. New target price is 32% above last closing price of CN¥36.14. Stock is down 39% over the past year. The company is forecast to post earnings per share of CN¥2.23 for next year compared to CN¥2.99 last year. Announcement • Jul 01
Guangzhou Tinci Materials Technology Co., Ltd. to Report First Half, 2023 Results on Aug 15, 2023 Guangzhou Tinci Materials Technology Co., Ltd. announced that they will report first half, 2023 results on Aug 15, 2023 Announcement • May 10
Guangzhou Tinci Materials Technology Co., Ltd. Announces Final Profit Distribution Plan to Be Implemented on A Shares for the Year 2022, Payable on 16 May 2023 Guangzhou Tinci Materials Technology Co., Ltd. announced final profit distribution plan to be implemented on A shares as cash dividend per ten shares (tax included) of CNY 6.00000000 for the year 2022, payable on 16 May 2023. Record date is 15 May 2023. Ex-date is 16 May 2023. Announcement • May 06
Guangzhou Tinci Materials Technology Co., Ltd. Announces Board Appointments Guangzhou Tinci Materials Technology Co., Ltd. at its AGM held on May 4, 2023, appointed Nan Junmin as Independent Director and Yao Yuze as Supervisor. Reported Earnings • Apr 12
Full year 2022 earnings: EPS in line with expectations, revenues disappoint Full year 2022 results: EPS: CN¥2.99 (up from CN¥1.18 in FY 2021). Revenue: CN¥22.3b (up 101% from FY 2021). Net income: CN¥5.71b (up 159% from FY 2021). Profit margin: 26% (up from 20% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 8.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 77% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
High number of new and inexperienced directors There are 10 new directors who have joined the board in the last 3 years. The company's board is composed of: 10 new directors. 2 experienced directors. No highly experienced directors. Chairman of the Supervisory Board Shou Bin Guo is the most experienced director on the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥48.89, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 15x in the Chemicals industry in China. Total returns to shareholders of 899% over the past three years. Reported Earnings • Oct 28
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: CN¥0.76 (up from CN¥0.41 in 3Q 2021). Revenue: CN¥6.07b (up 108% from 3Q 2021). Net income: CN¥1.45b (up 89% from 3Q 2021). Profit margin: 24% (down from 26% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 42%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 106% per year whereas the company’s share price has increased by 104% per year. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥48.26, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the Chemicals industry in China. Total returns to shareholders of 914% over the past three years. 
