New Risk • May 13
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 29% 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 Earnings have declined by 0.6% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (116% cash payout ratio). Large one-off items impacting financial results. Reported Earnings • Apr 24
First quarter 2026 earnings released: EPS: CN¥0.17 (vs CN¥0.14 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.17 (up from CN¥0.14 in 1Q 2025). Revenue: CN¥405.3m (flat on 1Q 2025). Net income: CN¥95.2m (up 26% from 1Q 2025). Profit margin: 24% (up from 19% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Apr 24
Tibet Cheezheng Tibetan Medicine Co., Ltd., Annual General Meeting, May 20, 2026 Tibet Cheezheng Tibetan Medicine Co., Ltd., Annual General Meeting, May 20, 2026, at 14:30 China Standard Time. Location: 7F, Block D, No. 9, Wangjing North Road, Chaoyang District, Beijing China Announcement • Mar 31
Tibet Cheezheng Tibetan Medicine Co., Ltd. to Report Q1, 2026 Results on Apr 24, 2026 Tibet Cheezheng Tibetan Medicine Co., Ltd. announced that they will report Q1, 2026 results on Apr 24, 2026 Reported Earnings • Feb 17
Full year 2025 earnings released: EPS: CN¥1.19 (vs CN¥1.10 in FY 2024) Full year 2025 results: EPS: CN¥1.19 (up from CN¥1.10 in FY 2024). Revenue: CN¥2.42b (up 3.3% from FY 2024). Net income: CN¥646.2m (up 11% from FY 2024). Profit margin: 27% (up from 25% in FY 2024). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. New Risk • Feb 15
New major risk - Revenue and earnings growth Earnings have declined by 0.7% 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 0.7% 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. Large one-off items impacting financial results. Announcement • Dec 31
Tibet Cheezheng Tibetan Medicine Co., Ltd. to Report Fiscal Year 2025 Results on Apr 24, 2026 Tibet Cheezheng Tibetan Medicine Co., Ltd. announced that they will report fiscal year 2025 results on Apr 24, 2026 Reported Earnings • Oct 28
Third quarter 2025 earnings released: EPS: CN¥0.12 (vs CN¥0.13 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.12 (down from CN¥0.13 in 3Q 2024). Revenue: CN¥347.9m (down 25% from 3Q 2024). Net income: CN¥65.1m (down 3.8% from 3Q 2024). Profit margin: 19% (up from 15% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Tibet Cheezheng Tibetan Medicine Co., Ltd. to Report Q3, 2025 Results on Oct 28, 2025 Tibet Cheezheng Tibetan Medicine Co., Ltd. announced that they will report Q3, 2025 results on Oct 28, 2025 New Risk • Sep 25
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 36% 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: 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 (7.7% average weekly change). Large one-off items impacting financial results. New Risk • Aug 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 7.1% 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 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 (7.1% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improves as stock rises 40% After last week's 40% share price gain to CN¥34.69, the stock trades at a trailing P/E ratio of 29.9x. Average trailing P/E is 38x in the Pharmaceuticals industry in China. Total returns to shareholders of 58% over the past three years. Reported Earnings • Jul 29
Second quarter 2025 earnings released: EPS: CN¥0.53 (vs CN¥0.43 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.53 (up from CN¥0.43 in 2Q 2024). Revenue: CN¥772.0m (up 20% from 2Q 2024). Net income: CN¥282.4m (up 24% from 2Q 2024). Profit margin: 37% (up from 35% 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 24% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 06
Dividend of CN¥0.38 announced Shareholders will receive a dividend of CN¥0.38. Ex-date: 10th July 2025 Payment date: 10th July 2025 Dividend yield will be 2.6%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is well covered by both earnings (36% earnings payout ratio) and cash flows (31% cash payout ratio). The dividend has increased by an average of 2.4% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 02
Tibet Cheezheng Tibetan Medicine Co., Ltd. to Report First Half, 2025 Results on Aug 23, 2025 Tibet Cheezheng Tibetan Medicine Co., Ltd. announced that they will report first half, 2025 results on Aug 23, 2025 Announcement • May 22
Cheezheng TTM Approves Cash Dividend Distribution for 2024 Cheezheng TTM held its Annual General Meeting of 2024 on 16 May 2025, and approved cash dividend distribution of CNY 3.80000000 per ten shares (tax included). Reported Earnings • Apr 25
First quarter 2025 earnings released: EPS: CN¥0.14 (vs CN¥0.18 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.14 (down from CN¥0.18 in 1Q 2024). Revenue: CN¥403.0m (up 10% from 1Q 2024). Net income: CN¥75.7m (down 22% from 1Q 2024). Profit margin: 19% (down from 27% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Apr 25
Tibet Cheezheng Tibetan Medicine Co., Ltd., Annual General Meeting, May 16, 2025 Tibet Cheezheng Tibetan Medicine Co., Ltd., Annual General Meeting, May 16, 2025, at 14:30 China Standard Time. Location: 7F, Block D, No. 9, Wangjing North Road, Chaoyang District, Beijing China Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥24.11, the stock trades at a trailing P/E ratio of 22.2x. Average trailing P/E is 28x in the Pharmaceuticals industry in China. Total returns to shareholders of 3.3% over the past three years. Announcement • Mar 31
Tibet Cheezheng Tibetan Medicine Co., Ltd. to Report Q1, 2025 Results on Apr 25, 2025 Tibet Cheezheng Tibetan Medicine Co., Ltd. announced that they will report Q1, 2025 results on Apr 25, 2025 Announcement • Mar 03
Tibet Cheezheng Tibetan Medicine Co., Ltd. (SZSE:002287) announces an Equity Buyback for CNY 160 million worth of its shares. Tibet Cheezheng Tibetan Medicine Co., Ltd. (SZSE:002287) announces a share repurchase program. Under the program, the company will repurchase up to CNY 160 million worth of its shares. The shares will be purchased at a price not exceeding CNY 31.65 per share. The purpose of the program is to safeguard the interests of shareholders, enhance investor confidence, effectively improve the return on investment of shareholders, and further improve the company's long-term incentive mechanism, fully mobilize the enthusiasm of the company's management and core team, and effectively promote the company's long-term development. The repurchased shares will be used for incentives or ESOP, otherwise will be cancelled if the company fails to transfer them within the time limit stipulated by relevant laws and regulations. The program will be funded from company's own funds. The program will be valid for 12 months. Reported Earnings • Mar 02
Full year 2024 earnings released: EPS: CN¥1.09 (vs CN¥1.10 in FY 2023) Full year 2024 results: EPS: CN¥1.09 (down from CN¥1.10 in FY 2023). Revenue: CN¥2.34b (up 14% from FY 2023). Net income: CN¥575.5m (down 1.0% from FY 2023). Profit margin: 25% (down from 28% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Jan 22
Tibet Cheezheng Tibetan Medicine Co., Ltd. Announces Special Profit Distribution Plan for the Year 2024, Payable on 24 January 2025 Tibet Cheezheng Tibetan Medicine Co., Ltd. announced 2024 special profit distribution plan to be implemented (A shares): Cash dividend/10 shares (tax included): CNY 2.20000000, Record date: 23 January 2025, Ex-date: 24 January 2025, Payment date: 24 January 2025. Announcement • Jan 03
Tibet Cheezheng Tibetan Medicine Co., Ltd. Proposes Cash Dividend for the Third Quarter of 2024 Tibet Cheezheng Tibetan Medicine Co., Ltd. announced on 31 December 2024 the profit distribution proposal for the third quarter of 2024 as follows: Cash dividend/10 shares (tax included) of CNY 2.20000000. Announcement • Dec 31
Tibet Cheezheng Tibetan Medicine Co., Ltd. to Report Fiscal Year 2024 Results on Apr 25, 2025 Tibet Cheezheng Tibetan Medicine Co., Ltd. announced that they will report fiscal year 2024 results on Apr 25, 2025 Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.13 (vs CN¥0.13 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.13 (down from CN¥0.13 in 3Q 2023). Revenue: CN¥461.9m (up 11% from 3Q 2023). Net income: CN¥67.7m (flat on 3Q 2023). Profit margin: 15% (down from 16% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 2% per year. Announcement • Sep 30
Tibet Cheezheng Tibetan Medicine Co., Ltd. to Report Q3, 2024 Results on Oct 30, 2024 Tibet Cheezheng Tibetan Medicine 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 24% After last week's 24% share price gain to CN¥22.96, the stock trades at a trailing P/E ratio of 20.5x. Average trailing P/E is 28x in the Pharmaceuticals industry in China. Total loss to shareholders of 28% over the past three years. Board Change • Sep 25
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. 6 experienced directors. 4 highly experienced directors. Independent Director Chunyu Li was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Aug 24
Second quarter 2024 earnings released: EPS: CN¥0.43 (vs CN¥0.41 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.43 (up from CN¥0.41 in 2Q 2023). Revenue: CN¥644.7m (up 21% from 2Q 2023). Net income: CN¥228.2m (up 4.0% from 2Q 2023). Profit margin: 35% (down from 41% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 13% per year. Announcement • Jun 29
Tibet Cheezheng Tibetan Medicine Co., Ltd. to Report First Half, 2024 Results on Aug 24, 2024 Tibet Cheezheng Tibetan Medicine Co., Ltd. announced that they will report first half, 2024 results on Aug 24, 2024 Reported Earnings • Apr 27
First quarter 2024 earnings released: EPS: CN¥0.18 (vs CN¥0.17 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.18 (up from CN¥0.17 in 1Q 2023). Revenue: CN¥365.1m (up 23% from 1Q 2023). Net income: CN¥97.5m (up 5.1% from 1Q 2023). Profit margin: 27% (down from 31% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • Apr 20
Tibet Cheezheng Tibetan Medicine Co., Ltd., Annual General Meeting, May 10, 2024 Tibet Cheezheng Tibetan Medicine Co., Ltd., Annual General Meeting, May 10, 2024, at 14:30 China Standard Time. Location: 7F, Tower D, No. 9, Wangjing North Road, Chaoyang District, Beijing China Reported Earnings • Apr 19
Full year 2023 earnings released: EPS: CN¥1.10 (vs CN¥0.89 in FY 2022) Full year 2023 results: EPS: CN¥1.10 (up from CN¥0.89 in FY 2022). Revenue: CN¥2.05b (flat on FY 2022). Net income: CN¥581.2m (up 23% from FY 2022). Profit margin: 28% (up from 23% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 6% per year. Announcement • Mar 30
Tibet Cheezheng Tibetan Medicine Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Tibet Cheezheng Tibetan Medicine Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥16.76, the stock trades at a trailing P/E ratio of 18x. Average trailing P/E is 23x in the Pharmaceuticals industry in China. Total loss to shareholders of 24% over the past three years. Announcement • Dec 29
Tibet Cheezheng Tibetan Medicine Co., Ltd. to Report Fiscal Year 2023 Results on Apr 19, 2024 Tibet Cheezheng Tibetan Medicine Co., Ltd. announced that they will report fiscal year 2023 results on Apr 19, 2024 Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.13 (vs CN¥0.23 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.13 (down from CN¥0.23 in 3Q 2022). Revenue: CN¥416.4m (down 27% from 3Q 2022). Net income: CN¥68.2m (down 43% from 3Q 2022). Profit margin: 16% (down from 21% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 4% per year. New Risk • Aug 31
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 30% 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: Minor Risks Dividend is not well covered by cash flows (233% cash payout ratio). Large one-off items impacting financial results. Reported Earnings • Jul 30
Second quarter 2023 earnings released: EPS: CN¥0.48 (vs CN¥0.27 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.48 (up from CN¥0.27 in 2Q 2022). Revenue: CN¥624.0m (up 28% from 2Q 2022). Net income: CN¥252.9m (up 74% from 2Q 2022). Profit margin: 41% (up from 30% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Announcement • Jul 14
Tibet Cheezheng Tibetan Medicine Co., Ltd. Announces Final Cash Dividend on A Shares for the Year 2022, Payable on July 20, 2023 Tibet Cheezheng Tibetan Medicine Co., Ltd. announced final cash dividend of CNY 3.90 per 10 shares on A shares for the year 2022. Record date is July 19, 2023, Ex-Date is July 20, 2023 and Payment Date is July 20, 2023. Announcement • Jun 01
Tibet Cheezheng Tibetan Medicine Co., Ltd. Approves Cash Dividend for the Year 2022 Tibet Cheezheng Tibetan Medicine Co., Ltd. held its Annual General Meeting of 2022 on 26 May 2023, approved cash dividend (tax included) of CNY 3.90000000 per 10 shares. Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: CN¥0.17 (vs CN¥0.17 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.17 (up from CN¥0.17 in 1Q 2022). Revenue: CN¥295.9m (down 27% from 1Q 2022). Net income: CN¥92.8m (up 6.5% from 1Q 2022). Profit margin: 31% (up from 21% in 1Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.24 (vs CN¥0.65 loss in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.24 (up from CN¥0.65 loss in 3Q 2021). Revenue: CN¥519.2m (up 27% from 3Q 2021). Net income: CN¥127.2m (up CN¥468.4m from 3Q 2021). Profit margin: 25% (up from net loss in 3Q 2021). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 30
Second quarter 2022 earnings released: EPS: CN¥0.27 (vs CN¥1.69 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.27 (down from CN¥1.69 in 2Q 2021). Revenue: CN¥489.3m (up 7.4% from 2Q 2021). Net income: CN¥144.7m (down 84% from 2Q 2021). Profit margin: 30% (down from 194% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Jul 14
Tibet Cheezheng Tibetan Medicine Co., Ltd. Announces Final Cash Dividend on A Shares for 2021, Payable on 19 July 2022 Tibet Cheezheng Tibetan Medicine Co., Ltd. announced final cash dividend of CNY 5.90000000 per 10 shares on A shares for 2021. Record date: 18 July 2022, Ex-date: 19 July 2022 and Payment date: 19 July 2022. Announcement • May 02
Tibet Cheezheng Tibetan Medicine Co., Ltd. Proposes Final Cash Dividend for the Year 2021 Tibet Cheezheng Tibetan Medicine Co., Ltd. proposed final cash dividend of CNY 5.90000000 per 10 shares (tax included) for the year 2021. Reported Earnings • Apr 30
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CN¥0.17 (down from CN¥0.19 in 1Q 2021). Revenue: CN¥407.6m (up 25% from 1Q 2021). Net income: CN¥87.1m (down 16% from 1Q 2021). Profit margin: 21% (down from 32% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 17%. Earnings per share (EPS) also missed analyst estimates by 11%. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Apr 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 7.3%. The fair value is estimated to be CN¥30.49, 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 36%. Buying Opportunity • Mar 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 10%. The fair value is estimated to be CN¥30.49, 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% per annum over the last 3 years. Earnings per share has grown by 36% per annum over the last 3 years. Reported Earnings • Feb 21
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥1.49 (up from CN¥0.77 in FY 2020). Revenue: CN¥1.77b (up 20% from FY 2020). Net income: CN¥784.6m (up 93% from FY 2020). Profit margin: 44% (up from 28% in FY 2020). The increase in margin was primarily driven by higher revenue. Revenue missed analyst estimates by 17%. Earnings per share (EPS) also missed analyst estimates by 11%. 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 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 26
Third quarter 2021 earnings released: CN¥0.65 loss per share (vs CN¥0.20 profit in 3Q 2020) The company reported a soft third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: CN¥407.8m (up 1.2% from 3Q 2020). Net loss: CN¥341.2m (down 430% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥28.14, the stock trades at a trailing P/E ratio of 12.7x. Average trailing P/E is 31x in the Pharmaceuticals industry in China. Total returns to shareholders of 68% over the past three years. Valuation Update With 7 Day Price Move • Sep 06
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥33.58, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 30x in the Pharmaceuticals industry in China. Total returns to shareholders of 67% over the past three years. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS CN¥1.69 (vs CN¥0.33 in 2Q 2020) Second quarter 2021 results: Revenue: CN¥455.6m (flat on 2Q 2020). Net income: CN¥885.2m (up 413% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 28
Second quarter 2021 earnings released: EPS CN¥1.69 (vs CN¥0.33 in 2Q 2020) Second quarter 2021 results: Revenue: CN¥455.6m (flat on 2Q 2020). Net income: CN¥885.3m (up 413% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • May 19
Tibet Cheezheng Tibetan Medicine Co., Ltd. Approves Cash Dividend for the Year 2020 Tibet Cheezheng Tibetan Medicine Co., Ltd. announced that at its AGM held on May 14, 2021, the shareholders approved a cash dividend of CNY 3.40000000 for 10 shares (tax included) for the year 2020. Reported Earnings • Apr 16
Full year 2020 earnings released: EPS CN¥0.77 (vs CN¥0.69 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥1.48b (up 5.2% from FY 2019). Net income: CN¥405.7m (up 11% from FY 2019). Profit margin: 28% (up from 26% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Mar 15
New 90-day low: CN¥23.03 The company is down 17% from a price of CN¥27.78 on 15 December 2020. Underperformed the Chinese market, which is flat over the last 90 days. Lagged the Pharmaceuticals industry, which is down 4.0% over the same period. Announcement • Mar 04
Tibet Cheezheng Tibetan Medicine Co., Ltd. to Report Fiscal Year 2020 Results on Apr 16, 2021 Tibet Cheezheng Tibetan Medicine Co., Ltd. announced that they will report fiscal year 2020 results on Apr 16, 2021 Reported Earnings • Feb 06
Full year 2020 earnings released: EPS CN¥0.77 (vs CN¥0.69 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥1.48b (up 5.2% from FY 2019). Net income: CN¥405.7m (up 11% from FY 2019). Profit margin: 28% (up from 26% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 05
New 90-day low: CN¥23.08 The company is down 7.0% from its price of CN¥24.90 on 06 November 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is flat over the same period. Is New 90 Day High Low • Jan 13
New 90-day high: CN¥30.48 The company is up 10.0% from its price of CN¥27.72 on 15 October 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is down 2.0% over the same period. Is New 90 Day High Low • Dec 23
New 90-day high: CN¥29.60 The company is up 1.0% from its price of CN¥29.33 on 24 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Pharmaceuticals industry, which is down 1.0% over the same period. Valuation Update With 7 Day Price Move • Dec 04
Market bids up stock over the past week After last week's 16% share price gain to CN¥28.30, the stock is trading at a trailing P/E ratio of 36.1x, up from the previous P/E ratio of 31x. This compares to an average P/E of 35x in the Pharmaceuticals industry in China. Total returns to shareholders over the past three years are 7.9%. Is New 90 Day High Low • Nov 17
New 90-day low: CN¥24.68 The company is down 22% from its price of CN¥31.81 on 19 August 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is down 10.0% over the same period. Is New 90 Day High Low • Nov 02
New 90-day low: CN¥25.30 The company is down 41% from its price of CN¥42.78 on 04 August 2020. The Chinese market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is down 13% over the same period. Reported Earnings • Oct 23
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥413.5m, up 19% from the prior year. Total revenue was CN¥1.45b over the last 12 months, up 8.9% from the prior year. Announcement • Oct 16
Tibet Cheezheng Tibetan Medicine Co., Ltd. to Report Q3, 2020 Results on Oct 23, 2020 Tibet Cheezheng Tibetan Medicine Co., Ltd. announced that they will report Q3, 2020 results on Oct 23, 2020 Announcement • Aug 12
Tibet Cheezheng Tibetan Medicine Co., Ltd. to Report First Half, 2020 Results on Aug 28, 2020 Tibet Cheezheng Tibetan Medicine Co., Ltd. announced that they will report first half, 2020 results on Aug 28, 2020