Valuation Update With 7 Day Price Move • May 21
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥9.88, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 21x in the Chemicals industry in China. Total returns to shareholders of 7.6% over the past three years. Announcement • Apr 20
Sichuan Guoguang Agrochemical Co., Ltd., Annual General Meeting, May 13, 2026 Sichuan Guoguang Agrochemical Co., Ltd., Annual General Meeting, May 13, 2026, at 15:00 China Standard Time. Location: No. 899, Beijing Road, Longquanyi District, Chengdu, Sichuan China Reported Earnings • Apr 19
First quarter 2026 earnings released: EPS: CN¥0.13 (vs CN¥0.17 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.13 (down from CN¥0.17 in 1Q 2025). Revenue: CN¥380.4m (down 1.2% from 1Q 2025). Net income: CN¥60.1m (down 24% from 1Q 2025). Profit margin: 16% (down from 20% in 1Q 2025). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 2 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 20% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Mar 31
Sichuan Guoguang Agrochemical Co., Ltd. to Report Q1, 2026 Results on Apr 18, 2026 Sichuan Guoguang Agrochemical Co., Ltd. announced that they will report Q1, 2026 results on Apr 18, 2026 Announcement • Dec 31
Sichuan Guoguang Agrochemical Co., Ltd. to Report Fiscal Year 2025 Results on Apr 18, 2026 Sichuan Guoguang Agrochemical Co., Ltd. announced that they will report fiscal year 2025 results on Apr 18, 2026 Announcement • Nov 13
Sichuan Guoguang Agrochemical Co., Ltd. Approves Dividend for the Third Quarter of 2025 Sichuan Guoguang Agrochemical Co., Ltd. approved Cash dividend/10 shares (tax included): CNY3.00000000 for the third quarter of 2025. Reported Earnings • Oct 25
Third quarter 2025 earnings released: EPS: CN¥0.10 (vs CN¥0.12 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.10 (down from CN¥0.12 in 3Q 2024). Revenue: CN¥404.1m (up 2.8% from 3Q 2024). Net income: CN¥47.7m (down 9.3% from 3Q 2024). Profit margin: 12% (down from 13% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% 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 increased by 34% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Sichuan Guoguang Agrochemical Co., Ltd. to Report Q3, 2025 Results on Oct 25, 2025 Sichuan Guoguang Agrochemical Co., Ltd. announced that they will report Q3, 2025 results on Oct 25, 2025 Declared Dividend • Aug 17
Dividend increased to CN¥0.40 Dividend of CN¥0.40 is 33% higher than last year. Ex-date: 19th August 2025 Payment date: 19th August 2025 Dividend yield will be 6.5%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is not covered by earnings (121% earnings payout ratio) nor is it covered by cash flows (121% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 35% to bring the payout ratio under control. EPS is expected to grow by 72% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Aug 09
Second quarter 2025 earnings released: EPS: CN¥0.33 (vs CN¥0.34 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.33. Revenue: CN¥733.6m (up 8.5% from 2Q 2024). Net income: CN¥151.9m (up 1.5% from 2Q 2024). Profit margin: 21% (down from 22% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Chemicals industry in China. Announcement • Jul 02
Sichuan Guoguang Agrochemical Co., Ltd. to Report First Half, 2025 Results on Aug 08, 2025 Sichuan Guoguang Agrochemical Co., Ltd. announced that they will report first half, 2025 results on Aug 08, 2025 Reported Earnings • May 02
First quarter 2025 earnings released: EPS: CN¥0.17 (vs CN¥0.16 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.17 (up from CN¥0.16 in 1Q 2024). Revenue: CN¥385.2m (up 5.2% from 1Q 2024). Net income: CN¥78.6m (up 16% from 1Q 2024). Profit margin: 20% (up from 19% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% 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 increased by 32% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Apr 19
Sichuan Guoguang Agrochemical Co., Ltd. Approves Dividend for the Year 2024 Sichuan Guoguang Agrochemical Co., Ltd. approved at its AGM held on 17 April 2025 the cash dividend/10 shares (tax included) of CNY 3.00000000 for the year 2024. Announcement • Mar 31
Sichuan Guoguang Agrochemical Co., Ltd. to Report Q1, 2025 Results on Apr 30, 2025 Sichuan Guoguang Agrochemical Co., Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Announcement • Mar 28
Sichuan Guoguang Agrochemical Co., Ltd. Proposes Final Cash Dividend for the Year 2024 Sichuan Guoguang Agrochemical Co., Ltd. announced on 27 March 2025 the profit distribution proposal for 2024 as follows: Cash dividend/10 shares (tax included): CNY 3.0. Reported Earnings • Mar 27
Full year 2024 earnings: EPS in line with expectations, revenues disappoint Full year 2024 results: EPS: CN¥0.82 (up from CN¥0.70 in FY 2023). Revenue: CN¥1.99b (up 6.8% from FY 2023). Net income: CN¥367.0m (up 22% from FY 2023). Profit margin: 19% (up from 16% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 8.8%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Mar 27
Sichuan Guoguang Agrochemical Co., Ltd., Annual General Meeting, Apr 17, 2025 Sichuan Guoguang Agrochemical Co., Ltd., Annual General Meeting, Apr 17, 2025, at 14:30 China Standard Time. Location: No. 899, Beijing Road, Longquanyi District, Chengdu, Sichuan China Declared Dividend • Jan 19
Dividend of CN¥0.30 announced Shareholders will receive a dividend of CN¥0.30. Ex-date: 21st January 2025 Payment date: 21st January 2025 Dividend yield will be 6.1%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (69% earnings payout ratio) and cash flows (81% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 38% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jan 16
Sichuan Guoguang Agrochemical Co., Ltd. Announces Implementation of Profit Distribution Plan (A Shares) for Third Quarter 2024, Payable on 21 January 2025 Sichuan Guoguang Agrochemical Co., Ltd. announced 2024 third quarter profit distribution plan to be implemented (A shares): Cash dividend per 10 shares (tax included) of CNY 3.00000000. Record date: 20 January 2025; Ex-date: 21 January 2025; Payment date: 21 January 2025. Announcement • Dec 31
Sichuan Guoguang Agrochemical Co., Ltd. to Report Fiscal Year 2024 Results on Mar 27, 2025 Sichuan Guoguang Agrochemical Co., Ltd. announced that they will report fiscal year 2024 results on Mar 27, 2025 Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.12 (vs CN¥0.12 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.12 (down from CN¥0.12 in 3Q 2023). Revenue: CN¥393.1m (flat on 3Q 2023). Net income: CN¥52.6m (down 2.8% from 3Q 2023). Profit margin: 13% (in line with 3Q 2023). 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 26% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Sichuan Guoguang Agrochemical Co., Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Sichuan Guoguang Agrochemical Co., Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥13.96, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Chemicals industry in China. Total returns to shareholders of 70% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥24.63 per share. Reported Earnings • Jul 25
Second quarter 2024 earnings released: EPS: CN¥0.31 (vs CN¥0.26 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.31 (up from CN¥0.26 in 2Q 2023). Revenue: CN¥676.4m (up 9.3% from 2Q 2023). Net income: CN¥149.6m (up 31% from 2Q 2023). Profit margin: 22% (up from 19% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% 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 increased by 21% per year whereas the company’s share price has increased by 19% per year. Announcement • Jun 29
Sichuan Guoguang Agrochemical Co., Ltd. to Report First Half, 2024 Results on Aug 16, 2024 Sichuan Guoguang Agrochemical Co., Ltd. announced that they will report first half, 2024 results on Aug 16, 2024 New Risk • Jun 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. 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. Shareholders have been diluted in the past year (5.5% increase in shares outstanding). Valuation Update With 7 Day Price Move • May 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥18.50, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 17x in the Chemicals industry in China. Total returns to shareholders of 104% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥25.65 per share. Declared Dividend • May 27
Dividend of CN¥0.25 announced Shareholders will receive a dividend of CN¥0.25. Ex-date: 29th May 2024 Payment date: 29th May 2024 Dividend yield will be 3.4%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (75% earnings payout ratio) and cash flows (77% cash payout ratio). The dividend has increased by an average of 16% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 70% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 27
Sichuan Guoguang Agrochemical Co., Ltd. Proposes Final Cash Dividend for the Year 2023 Sichuan Guoguang Agrochemical Co., Ltd. announced on 25 April 2024 the profit distribution proposal for 2023 as follows: Cash dividend/10 shares (tax included): CNY 2.50000000. Announcement • Apr 26
Sichuan Guoguang Agrochemical Co., Ltd., Annual General Meeting, May 16, 2024 Sichuan Guoguang Agrochemical Co., Ltd., Annual General Meeting, May 16, 2024, at 14:30 China Standard Time. Location: No. 899, Beijing Road, Longquanyi District, Chengdu, Sichuan China Reported Earnings • Apr 25
Full year 2023 earnings: EPS in line with expectations, revenues disappoint Full year 2023 results: EPS: CN¥0.70 (up from CN¥0.26 in FY 2022). Revenue: CN¥1.86b (up 13% from FY 2022). Net income: CN¥302.0m (up 166% from FY 2022). Profit margin: 16% (up from 6.9% in FY 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 6.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 21% p.a. on average during the next 2 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 5% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 30
Sichuan Guoguang Agrochemical Co., Ltd. to Report Q1, 2024 Results on Apr 26, 2024 Sichuan Guoguang Agrochemical Co., Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Buy Or Sell Opportunity • Mar 14
Now 21% undervalued Over the last 90 days, the stock has risen 62% to CN¥16.63. The fair value is estimated to be CN¥21.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has declined by 9.0%. Revenue is forecast to grow by 55% in 2 years. Earnings are forecast to grow by 142% in the next 2 years. Announcement • Jan 25
Sichuan Guoguang Agrochemical Co., Ltd. Announces Third Quarter Profit Distribution Plan to Be Implemented on (A Shares), Payable on January 31, 2024 Sichuan Guoguang Agrochemical Co., Ltd. announced third quarter profit distribution plan to be implemented on (A Shares) Cash dividend/10 shares (tax included): CNY 3.00000000. Record date is January 30, 2024. Ex-date is January 31, 2024. The dividend will be payable on January 31, 2024. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥14.33, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 15x in the Chemicals industry in China. Total returns to shareholders of 46% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥19.70 per share. Announcement • Jan 06
Sichuan Guoguang Agrochemical Co., Ltd. Approves 2023 Third Quarter Cash Dividend Sichuan Guoguang Agrochemical Co., Ltd. at its Extraordinary General Meeting held on 04 January 2024 approved 2023 third quarter cash dividend of CNY 3.00000000 per 10 shares (tax included). Announcement • Dec 29
Sichuan Guoguang Agrochemical Co., Ltd. to Report Fiscal Year 2023 Results on Apr 25, 2024 Sichuan Guoguang Agrochemical Co., Ltd. announced that they will report fiscal year 2023 results on Apr 25, 2024 Announcement • Dec 19
Sichuan Guoguang Agrochemical Co., Ltd. Proposes Distribution for the Third Quarter of 2023 Sichuan Guoguang Agrochemical Co., Ltd. announced on 18 December 2023 the profit distribution proposal for the third quarter of 2023 as follows: Cash dividend/10 shares (tax included): CNY 3.00000000. Reported Earnings • Oct 20
Third quarter 2023 earnings released: EPS: CN¥0.12 (vs CN¥0.053 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.12 (up from CN¥0.053 in 3Q 2022). Revenue: CN¥394.8m (up 8.0% from 3Q 2022). Net income: CN¥54.1m (up 133% from 3Q 2022). Profit margin: 14% (up from 6.4% in 3Q 2022). Revenue is forecast to grow 22% 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 fallen by 9% per year whereas the company’s share price has fallen by 8% per year. Announcement • Sep 30
Sichuan Guoguang Agrochemical Co., Ltd. to Report Q3, 2023 Results on Oct 20, 2023 Sichuan Guoguang Agrochemical Co., Ltd. announced that they will report Q3, 2023 results on Oct 20, 2023 Board Change • Aug 13
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. Independent Director Chao Bi is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. New Risk • Aug 08
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 08
Second quarter 2023 earnings released: EPS: CN¥0.26 (vs CN¥0.25 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.26 (up from CN¥0.25 in 2Q 2022). Revenue: CN¥618.6m (down 2.8% from 2Q 2022). Net income: CN¥114.2m (up 15% from 2Q 2022). Profit margin: 19% (up from 16% in 2Q 2022). 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 fallen by 12% per year whereas the company’s share price has fallen by 10% per year. Announcement • Jul 01
Sichuan Guoguang Agrochemical Co., Ltd. to Report First Half, 2023 Results on Aug 08, 2023 Sichuan Guoguang Agrochemical Co., Ltd. announced that they will report first half, 2023 results on Aug 08, 2023 Reported Earnings • Apr 18
Full year 2022 earnings released: EPS: CN¥0.26 (vs CN¥0.48 in FY 2021) Full year 2022 results: EPS: CN¥0.26 (down from CN¥0.48 in FY 2021). Revenue: CN¥1.65b (up 21% from FY 2021). Net income: CN¥113.6m (down 45% from FY 2021). Profit margin: 6.9% (down from 15% in FY 2021). Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 4% per year. Board Change • Nov 16
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. Independent Director Chao Bi is the most experienced director on the board, commencing their role in 2021. 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 08
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥9.80, 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 9.3% over the past three years. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.053 (vs CN¥0.093 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.053 (down from CN¥0.093 in 3Q 2021). Revenue: CN¥365.4m (up 22% from 3Q 2021). Net income: CN¥23.3m (down 45% from 3Q 2021). Profit margin: 6.4% (down from 14% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year and the company’s share price has also fallen by 6% per year. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: CN¥0.25 (vs CN¥0.26 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.25 (down from CN¥0.26 in 2Q 2021). Revenue: CN¥636.5m (up 39% from 2Q 2021). Net income: CN¥99.6m (down 5.9% from 2Q 2021). Profit margin: 16% (down from 23% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • May 24
Sichuan Guoguang Agrochemical Co., Ltd. Announces Final Profit Distribution Plan to Be Implemented on A Shares for the Year 2021, Payable on 27 May 2022 Sichuan Guoguang Agrochemical Co., Ltd. announced final profit distribution plan to be implemented on A shares as cash dividend per ten shares (tax included) of CNY 2.20000000 for the year 2021, payable on 27 May 2022. Record date: 26 May 2022. Ex-date: 27 May 2022. Net cash dividend per ten shares after tax: CNY 1.98000000 (CNY 2.20000000- CNY 0.22000000). Announcement • May 12
Sichuan Guoguang Agrochemical Co., Ltd. Approves Cash Dividend for the Year 2021 Sichuan Guoguang Agrochemical Co., Ltd., at the AGM held on 09 May 2022 approved Cash dividend/10 shares (tax included) of CNY 2.20000000 for the year 2021. Reported Earnings • May 02
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: CN¥0.09 (vs CN¥0.09 in 1Q 2021). Revenue: CN¥238.9m (up 23% from 1Q 2021). Net income: CN¥40.9m (up 2.2% from 1Q 2021). Profit margin: 17% (down from 21% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 27%. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Board Change • Apr 27
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 5 experienced directors. No highly experienced directors. Independent Director Chao Bi is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Apr 16
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥0.48 (up from CN¥0.40 in FY 2020). Revenue: CN¥1.36b (up 17% from FY 2020). Net income: CN¥206.2m (up 21% from FY 2020). Profit margin: 15% (in line with FY 2020). Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 27%. Over the last 3 years on average, earnings per share has fallen by 13% 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. Buying Opportunity • Apr 14
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 2.5%. The fair value is estimated to be CN¥12.17, however this is not to be taken as a buy 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 13%. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥8.76, the stock trades at a trailing P/E ratio of 18.5x. Average trailing P/E is 30x in the Chemicals industry in China. Total loss to shareholders of 21% over the past three years. Buying Opportunity • Mar 08
Now 20% undervalued Over the last 90 days, the stock is up 10%. The fair value is estimated to be CN¥12.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% per annum over the last 3 years. Earnings per share has declined by 13% per annum over the last 3 years. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥10.69, the stock trades at a trailing P/E ratio of 22.6x. Average trailing P/E is 33x in the Chemicals industry in China. Total returns to shareholders of 12% over the past three years. Reported Earnings • Feb 17
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥0.48 (up from CN¥0.40 in FY 2020). Revenue: CN¥1.36b (up 17% from FY 2020). Net income: CN¥205.9m (up 21% from FY 2020). Profit margin: 15% (in line with FY 2020). Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 27%. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Board Change • Dec 28
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Non-Independent Director Xi Chen was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 22
Third quarter 2021 earnings released: EPS CN¥0.093 (vs CN¥0.10 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥300.3m (up 14% from 3Q 2020). Net income: CN¥42.6m (down 5.4% from 3Q 2020). Profit margin: 14% (down from 17% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Aug 11
Second quarter 2021 earnings released: EPS CN¥0.26 (vs CN¥0.23 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: CN¥457.6m (up 9.5% from 2Q 2020). Net income: CN¥105.8m (up 8.6% from 2Q 2020). Profit margin: 23% (in line with 2Q 2020). 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 8% per year. Announcement • May 28
Sichuan Guoguang Agrochemical Co., Ltd. Announces 2020 Final Profit Distribution Plan to Be Implemented (A Shares), Payable on 04 June 2021 Sichuan Guoguang Agrochemical Co., Ltd. announced 2020 final profit distribution plan to be implemented (A shares): Cash dividend/10 shares (tax included): CNY 2.19999700. Net cash dividend/10 shares after tax: CNY 1.97999700. For the dividend record date is 03 June 2021, ex-date is 04 June 2021 and payment date is 04 June 2021. Announcement • May 25
Sichuan Guoguang Agrochemical Co., Ltd. Approves Final Dividend for the Year 2020 Sichuan Guoguang Agrochemical Co., Ltd. approved final dividend of (tax included) CNY 2.20000000 per 10 share for the year 2020 at the AGM held on May 21, 2021. Announcement • May 02
Sichuan Guoguang Agrochemical Co., Ltd. Proposes Final Dividend for the Year 2020 Sichuan Guoguang Agrochemical Co., Ltd. proposes final dividend of (tax included) CNY 2.20000000 per 10 share for the year 2020. Reported Earnings • May 01
Full year 2020 earnings released: EPS CN¥0.40 (vs CN¥0.47 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: CN¥1.16b (up 14% from FY 2019). Net income: CN¥170.8m (down 15% from FY 2019). Profit margin: 15% (down from 20% in FY 2019). Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 4% per year. Is New 90 Day High Low • Feb 04
New 90-day low: CN¥9.74 The company is down 21% from its price of CN¥12.31 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 Chemicals industry, which is up 20% over the same period. Is New 90 Day High Low • Jan 07
New 90-day low: CN¥10.22 The company is down 23% from its price of CN¥13.28 on 09 October 2020. The Chinese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 18% over the same period. Is New 90 Day High Low • Dec 16
New 90-day low: CN¥11.42 The company is down 14% from its price of CN¥13.29 on 17 September 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 6.0% over the same period. Is New 90 Day High Low • Nov 06
New 90-day low: CN¥12.31 The company is down 19% from its price of CN¥15.15 on 07 August 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is flat over the same period. Reported Earnings • Oct 28
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥217.5m, down 8.9% from the prior year. Total revenue was CN¥1.09b over the last 12 months, up 10% from the prior year. Announcement • Oct 20
Sichuan Guoguang Agrochemical Co., Ltd. to Report Q3, 2020 Results on Oct 27, 2020 Sichuan Guoguang Agrochemical Co., Ltd. announced that they will report Q3, 2020 results on Oct 27, 2020 Is New 90 Day High Low • Sep 30
New 90-day low: CN¥12.44 The company is down 4.0% from its price of CN¥12.95 on 02 July 2020. The Chinese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 15% over the same period. Announcement • Aug 14
Sichuan Guoguang Agrochemical Co., Ltd. to Report First Half, 2020 Results on Aug 31, 2020 Sichuan Guoguang Agrochemical Co., Ltd. announced that they will report first half, 2020 results on Aug 31, 2020