Board Change • May 14
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 5 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Xinrong Zhang was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Apr 30
Price target decreased by 12% to CN¥21.90 Down from CN¥24.78, the current price target is an average from 5 analysts. New target price is 45% above last closing price of CN¥15.15. Stock is down 20% over the past year. The company is forecast to post a net loss per share of CN¥0.40 next year compared to a net loss per share of CN¥6.15 last year. New Risk • Apr 28
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 60% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (60% net debt to equity). Dividend is not well covered by earnings (0% payout ratio). Reported Earnings • Apr 28
Full year 2025 earnings released: CN¥6.15 loss per share (vs CN¥0.84 profit in FY 2024) Full year 2025 results: CN¥6.15 loss per share (down from CN¥0.84 profit in FY 2024). Revenue: CN¥8.96b (down 66% from FY 2024). Net loss: CN¥14.7b (down CN¥16.7b from profit in FY 2024). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Biotechs industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Announcement • Apr 28
Chongqing Zhifei Biological Products Co., Ltd., Annual General Meeting, Jun 01, 2026 Chongqing Zhifei Biological Products Co., Ltd., Annual General Meeting, Jun 01, 2026, at 09:30 China Standard Time. Location: No. 9, Jinyuan Road, Liangjiang New District, Chongqing China Announcement • Mar 31
Chongqing Zhifei Biological Products Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Chongqing Zhifei Biological Products Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 Major Estimate Revision • Jan 16
Consensus EPS estimates fall by 689% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -CN¥0.122 to -CN¥0.96 per share. Revenue forecast of CN¥10.6b unchanged since last update. Biotechs industry in China expected to see average net income growth of 44% next year. Consensus price target broadly unchanged at CN¥24.78. Share price fell 4.4% to CN¥18.92 over the past week. Announcement • Dec 31
Chongqing Zhifei Biological Products Co., Ltd. to Report Fiscal Year 2025 Results on Apr 28, 2026 Chongqing Zhifei Biological Products Co., Ltd. announced that they will report fiscal year 2025 results on Apr 28, 2026 Price Target Changed • Nov 22
Price target decreased by 15% to CN¥24.98 Down from CN¥29.53, the current price target is an average from 5 analysts. New target price is 24% above last closing price of CN¥20.19. Stock is down 28% over the past year. The company is forecast to post a net loss per share of CN¥0.76 compared to earnings per share of CN¥0.84 last year. Reported Earnings • Oct 31
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: CN¥0.26 loss per share (further deteriorated from CN¥0.047 loss in 3Q 2024). Revenue: CN¥2.71b (down 40% from 3Q 2024). Net loss: CN¥609.3m (loss widened 441% from 3Q 2024). Revenue missed analyst estimates by 16%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Biotechs industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 32 percentage points per year, which is a significant difference in performance. Announcement • Sep 30
Chongqing Zhifei Biological Products Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Chongqing Zhifei Biological Products Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Reported Earnings • Aug 19
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: CN¥0.12 loss per share (down from CN¥0.32 profit in 2Q 2024). Revenue: CN¥2.54b (down 63% from 2Q 2024). Net loss: CN¥292.0m (down 138% from profit in 2Q 2024). Revenue missed analyst estimates by 31%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Biotechs industry in China. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 27% per year, which means it has not declined as severely as earnings. New Risk • Jul 24
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 6.9% 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: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 187% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Profit margins are more than 30% lower than last year (1.5% net profit margin). Announcement • Jul 02
Chongqing Zhifei Biological Products Co., Ltd. to Report First Half, 2025 Results on Aug 19, 2025 Chongqing Zhifei Biological Products Co., Ltd. announced that they will report first half, 2025 results on Aug 19, 2025 Price Target Changed • Jul 01
Price target decreased by 16% to CN¥29.73 Down from CN¥35.23, the current price target is an average from 6 analysts. New target price is 51% above last closing price of CN¥19.65. Stock is down 29% over the past year. The company is forecast to post earnings per share of CN¥0.70 for next year compared to CN¥0.84 last year. Buy Or Sell Opportunity • Jun 17
Now 23% overvalued Over the last 90 days, the stock has fallen 22% to CN¥19.79. The fair value is estimated to be CN¥16.05, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.7% over the last 3 years. Earnings per share has declined by 39%. Revenue is forecast to grow by 82% in 2 years. Earnings are forecast to grow by 1,695% in the next 2 years. Buy Or Sell Opportunity • May 29
Now 22% overvalued Over the last 90 days, the stock has fallen 23% to CN¥19.43. The fair value is estimated to be CN¥15.91, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.7% over the last 3 years. Earnings per share has declined by 39%. Revenue is forecast to grow by 82% in 2 years. Earnings are forecast to grow by 1,695% in the next 2 years. Major Estimate Revision • May 22
Consensus revenue estimates fall by 20% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥22.7b to CN¥18.3b. EPS estimate fell from CN¥0.544 to CN¥0.526 per share. Net income forecast to grow 782% next year vs 35% growth forecast for Biotechs industry in China. Consensus price target down from CN¥35.23 to CN¥33.07. Share price was steady at CN¥19.55 over the past week. Buy Or Sell Opportunity • May 06
Now 24% overvalued Over the last 90 days, the stock has fallen 20% to CN¥19.50. The fair value is estimated to be CN¥15.76, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.7% over the last 3 years. Earnings per share has declined by 39%. Revenue is forecast to grow by 107% in 2 years. Earnings are forecast to grow by 1,937% in the next 2 years. Major Estimate Revision • Apr 28
Consensus revenue estimates fall by 58% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥47.3b to CN¥20.0b. EPS estimate fell from CN¥3.64 to CN¥0.544 per share. Net income forecast to grow 862% next year vs 34% growth forecast for Biotechs industry in China. Consensus price target down from CN¥36.57 to CN¥35.23. Share price fell 12% to CN¥19.21 over the past week. New Risk • Apr 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 28% 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 Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). Announcement • Apr 22
Chongqing Zhifei Biological Products Co., Ltd., Annual General Meeting, Jun 18, 2025 Chongqing Zhifei Biological Products Co., Ltd., Annual General Meeting, Jun 18, 2025, at 10:00 China Standard Time. Location: No. 9, Jinyuan Road, Jiangbei District, Chongqing China Announcement • Mar 31
Chongqing Zhifei Biological Products Co., Ltd. to Report Q1, 2025 Results on Apr 22, 2025 Chongqing Zhifei Biological Products Co., Ltd. announced that they will report Q1, 2025 results on Apr 22, 2025 Major Estimate Revision • Feb 19
Consensus revenue estimates fall by 21% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥37.0b to CN¥29.1b. EPS estimate fell from CN¥2.23 to CN¥2.00 per share. Net income forecast to grow 89% next year vs 40% growth forecast for Biotechs industry in China. Consensus price target down from CN¥36.02 to CN¥34.93. Share price was steady at CN¥25.63 over the past week. Major Estimate Revision • Feb 08
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥44.1b to CN¥42.1b. EPS estimate also fell from CN¥2.60 per share to CN¥2.23 per share. Net income forecast to grow 126% next year vs 40% growth forecast for Biotechs industry in China. Consensus price target broadly unchanged at CN¥36.02. Share price rose 5.4% to CN¥25.40 over the past week. Announcement • Dec 31
Chongqing Zhifei Biological Products Co., Ltd. to Report Fiscal Year 2024 Results on Apr 22, 2025 Chongqing Zhifei Biological Products Co., Ltd. announced that they will report fiscal year 2024 results on Apr 22, 2025 Announcement • Dec 19
Chongqing Zhifei Biological Products Co., Ltd. Announces Third Quarter 2024 Profit Distribution Plan (A Shares), Payable on 25 December 2024 Chongqing Zhifei Biological Products Co., Ltd. announced third quarter 2024 profit distribution plan to be implemented (A shares): Cash dividend per 10 shares (tax included) of CNY 2.00000000. Record date: 24 December 2024; Ex-date: 25 December 2024; Payment date: 25 December 2024. Major Estimate Revision • Nov 01
Consensus revenue estimates fall by 23% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥42.0b to CN¥32.4b. EPS estimate fell from CN¥2.51 to CN¥1.26 per share. Net income forecast to grow 142% next year vs 40% growth forecast for Biotechs industry in China. Consensus price target down from CN¥37.14 to CN¥36.39. Share price fell 12% to CN¥28.25 over the past week. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to CN¥30.43, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 25x in the Biotechs industry in China. Total loss to shareholders of 67% over the past three years. Board Change • Oct 01
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. 8 experienced directors. 2 highly experienced directors. Independent Director Xinrong Zhang was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 30
Chongqing Zhifei Biological Products Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Chongqing Zhifei Biological Products Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 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 7.4% 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 (7.4% average weekly change). Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to CN¥27.82, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 21x in the Biotechs industry in China. Total loss to shareholders of 73% over the past three years. Announcement • Sep 24
Chongqing Zhifei Biological Products Co., Ltd. Approves Election of Zhang Xinrong as Independent Director Chongqing Zhifei Biological Products Co., Ltd. at its EGM held on September 20, 2024, approved the election of Zhang Xinrong as independent director. Major Estimate Revision • Sep 05
Consensus revenue estimates fall by 27% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥57.5b to CN¥41.9b. EPS estimate fell from CN¥4.09 to CN¥2.31 per share. Net income forecast to grow 25% next year vs 32% growth forecast for Biotechs industry in China. Consensus price target down from CN¥49.16 to CN¥38.55. Share price fell 2.9% to CN¥22.11 over the past week. Price Target Changed • Sep 04
Price target decreased by 22% to CN¥38.55 Down from CN¥49.16, the current price target is an average from 8 analysts. New target price is 76% above last closing price of CN¥21.94. Stock is down 52% over the past year. The company is forecast to post earnings per share of CN¥2.31 for next year compared to CN¥3.36 last year. Buy Or Sell Opportunity • Aug 06
Now 22% overvalued Over the last 90 days, the stock has fallen 25% to CN¥27.30. The fair value is estimated to be CN¥22.46, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has grown by 2.6%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 51% in the next 2 years. Announcement • Aug 04
Chongqing Zhifei Biological Products Co., Ltd. Announces Final Dividend on A Shares, Payable on 08 August 2024 Chongqing Zhifei Biological Products Co., Ltd. announced final cash dividend of CNY 8.00000000 per 10 A shares (tax included) for 2023. Record date: 07 August 2024. Ex-date: 08 August 2024. Payment date: 08 August 2024. Price Target Changed • Jul 26
Price target decreased by 9.7% to CN¥49.16 Down from CN¥54.44, the current price target is an average from 8 analysts. New target price is 86% above last closing price of CN¥26.38. Stock is down 47% over the past year. The company is forecast to post earnings per share of CN¥4.15 for next year compared to CN¥3.36 last year. Price Target Changed • Jul 23
Price target decreased by 8.3% to CN¥53.66 Down from CN¥58.50, the current price target is an average from 8 analysts. New target price is 104% above last closing price of CN¥26.30. Stock is down 44% over the past year. The company is forecast to post earnings per share of CN¥4.24 for next year compared to CN¥3.36 last year. Announcement • Jun 29
Chongqing Zhifei Biological Products Co., Ltd. to Report First Half, 2024 Results on Aug 30, 2024 Chongqing Zhifei Biological Products Co., Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Major Estimate Revision • Apr 29
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥59.7b to CN¥56.6b. EPS estimate also fell from CN¥4.66 per share to CN¥3.73 per share. Net income forecast to grow 33% next year vs 35% growth forecast for Biotechs industry in China. Consensus price target down from CN¥71.15 to CN¥62.47. Share price fell 13% to CN¥34.83 over the past week. Price Target Changed • Apr 24
Price target decreased by 7.4% to CN¥65.91 Down from CN¥71.15, the current price target is an average from 7 analysts. New target price is 93% above last closing price of CN¥34.08. Stock is down 37% over the past year. The company is forecast to post earnings per share of CN¥4.53 for next year compared to CN¥3.36 last year. Announcement • Apr 23
Chongqing Zhifei Biological Products Co., Ltd., Annual General Meeting, Jun 18, 2024 Chongqing Zhifei Biological Products Co., Ltd., Annual General Meeting, Jun 18, 2024, at 10:00 China Standard Time. Location: No. 9, Jinyuan Road, Jiangbei District, Chongqing China Valuation Update With 7 Day Price Move • Apr 23
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥35.39, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 21x in the Biotechs industry in China. Total loss to shareholders of 74% over the past three years. Announcement • Mar 30
Chongqing Zhifei Biological Products Co., Ltd. to Report Q1, 2024 Results on Apr 23, 2024 Chongqing Zhifei Biological Products Co., Ltd. announced that they will report Q1, 2024 results on Apr 23, 2024 Announcement • Feb 23
Chongqing Zhifei Biological Products Co., Ltd. (SZSE:300122) announces an Equity Buyback for CNY 500 million worth of its shares. Chongqing Zhifei Biological Products Co., Ltd. (SZSE:300122) announces a share repurchase program. Under the program, the company will repurchase up to CNY 500 million worth of its shares. The repurchase program is valid for 12 months. Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥51.93, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 20x in the Biotechs industry in China. Total loss to shareholders of 63% over the past three years. Announcement • Dec 30
Chongqing Zhifei Biological Products Co., Ltd. to Report Fiscal Year 2023 Results on Apr 23, 2024 Chongqing Zhifei Biological Products Co., Ltd. announced that they will report fiscal year 2023 results on Apr 23, 2024 Reported Earnings • Oct 27
Third quarter 2023 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2023 results: EPS: CN¥0.95 (up from CN¥0.78 in 3Q 2022). Revenue: CN¥14.8b (up 57% from 3Q 2022). Net income: CN¥2.27b (up 21% from 3Q 2022). Profit margin: 15% (down from 20% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 18%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Biotechs 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 fallen by 17% per year, which means it is significantly lagging earnings. New Risk • Oct 09
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 7.4% 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 (7.4% average weekly change). Valuation Update With 7 Day Price Move • Oct 09
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥58.40, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 28x in the Biotechs industry in China. Total loss to shareholders of 43% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥88.46 per share. Announcement • Sep 30
Chongqing Zhifei Biological Products Co., Ltd. to Report Q3, 2023 Results on Oct 27, 2023 Chongqing Zhifei Biological Products Co., Ltd. announced that they will report Q3, 2023 results on Oct 27, 2023 Price Target Changed • Sep 11
Price target decreased by 8.2% to CN¥67.08 Down from CN¥73.05, the current price target is an average from 7 analysts. New target price is 45% above last closing price of CN¥46.18. Stock is down 24% over the past year. The company is forecast to post earnings per share of CN¥3.98 for next year compared to CN¥3.14 last year. Price Target Changed • Sep 05
Price target decreased by 7.7% to CN¥72.05 Down from CN¥78.03, the current price target is an average from 7 analysts. New target price is 57% above last closing price of CN¥46.04. Stock is down 24% over the past year. The company is forecast to post earnings per share of CN¥3.97 for next year compared to CN¥3.14 last year. Reported Earnings • Aug 29
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: CN¥0.93 (up from CN¥0.75 in 2Q 2022). Revenue: CN¥13.3b (up 40% from 2Q 2022). Net income: CN¥2.23b (up 23% from 2Q 2022). Profit margin: 17% (down from 19% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 22%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Biotechs 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 fallen by 20% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorates as stock falls 32% After last week's 32% share price decline to CN¥45.58, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 27x in the Biotechs industry in China. Total loss to shareholders of 50% over the past three years. Announcement • Jun 13
EVE Energy Co., Ltd. Announces Final Profit Distribution Plan to Be Implemented on A Shares for the Year 2022, Payable on 16 June 2023 EVE Energy Co., Ltd. announced final profit distribution plan to be implemented on A shares as cash dividend per ten shares (tax included) of CNY 5.00000000 for the year 2022, payable on 16 June 2023. Record date is 15 June 2023. Ex-date is 16 June 2023. Major Estimate Revision • Mar 27
Consensus revenue estimates increase by 16% The consensus outlook for revenues in fiscal year 2023 has improved. 2023 revenue forecast increased from CN¥40.1b to CN¥46.7b. EPS estimate increased from CN¥5.72 to CN¥5.79 per share. Net income forecast to grow 24% next year vs 45% growth forecast for Biotechs industry in China. Consensus price target down from CN¥125 to CN¥120. Share price fell 3.7% to CN¥86.55 over the past week. Reported Earnings • Mar 21
Full year 2022 earnings: EPS in line with analyst expectations despite revenue beat Full year 2022 results: EPS: CN¥4.71 (down from CN¥6.38 in FY 2021). Revenue: CN¥38.3b (up 25% from FY 2021). Net income: CN¥7.54b (down 26% from FY 2021). Profit margin: 20% (down from 33% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Biotechs industry in China. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥103, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 31x in the Biotechs industry in China. Total returns to shareholders of 79% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥147 per share. Price Target Changed • Dec 17
Price target decreased to CN¥121 Down from CN¥130, the current price target is an average from 6 analysts. New target price is 43% above last closing price of CN¥83.99. Stock is down 35% over the past year. The company is forecast to post earnings per share of CN¥4.65 for next year compared to CN¥6.38 last year. Reported Earnings • Oct 28
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: EPS: CN¥1.17 (down from CN¥1.82 in 3Q 2021). Revenue: CN¥9.47b (up 9.4% from 3Q 2021). Net income: CN¥1.88b (down 36% from 3Q 2021). Profit margin: 20% (down from 34% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 29%. Earnings per share (EPS) missed analyst estimates by 6.8%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Biotechs industry in China. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥95.90, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 28x in the Biotechs industry in China. Total returns to shareholders of 95% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥180 per share. Reported Earnings • Aug 31
Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2022 results: EPS: CN¥1.13 (down from CN¥2.85 in 2Q 2021). Revenue: CN¥9.51b (up 2.9% from 2Q 2021). Net income: CN¥1.81b (down 60% from 2Q 2021). Profit margin: 19% (down from 49% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 7.9%. Earnings per share (EPS) missed analyst estimates by 31%. Over the next year, revenue is expected to shrink by 2.4% compared to a 37% growth forecast for the Biotechs industry in China. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • Jul 09
Chongqing Zhifei Biological Products Co., Ltd. Announces Final Dividend on A Shares for the Year 2021, Payable on July 15, 2022 Chongqing Zhifei Biological Products Co., Ltd. announced final cash dividend/10 shares (tax included) of CNY 6.00000000 on A shares for the year 2021. Record date is July 14, 2022. Ex-date is July 15, 2022. Payment date is July 15, 2022. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥104, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 30x in the Biotechs industry in China. Total returns to shareholders of 152% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥198 per share. Announcement • May 24
Chongqing Zhifei Biological Products Co., Ltd. Approves Cash Dividend for the Year 2021 Chongqing Zhifei Biological Products Co., Ltd. held its Annual General Meeting of 2021 on May 20, 2022, approved Cash dividend of CNY 6.00000000 per 10 shares (tax included) for the year 2021. Major Estimate Revision • May 04
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from CN¥5.85 to CN¥4.95 per share. Revenue forecast steady at CN¥31.7b. Net income forecast to shrink 27% next year vs 33% growth forecast for Biotechs industry in China . Consensus price target down from CN¥172 to CN¥148. Share price fell 3.0% to CN¥94.50 over the past week. Price Target Changed • May 01
Price target decreased to CN¥148 Down from CN¥172, the current price target is an average from 13 analysts. New target price is 57% above last closing price of CN¥94.50. Stock is down 58% over the past year. The company is forecast to post earnings per share of CN¥4.92 for next year compared to CN¥6.38 last year. Reported Earnings • Apr 28
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: CN¥1.20 (up from CN¥0.59 in 1Q 2021). Revenue: CN¥8.84b (up 125% from 1Q 2021). Net income: CN¥1.92b (up 105% from 1Q 2021). Profit margin: 22% (down from 24% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 34%. Earnings per share (EPS) also surpassed analyst estimates by 38%. Over the next year, revenue is expected to shrink by 9.2% compared to a 45% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥116, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 31x in the Biotechs industry in China. Total returns to shareholders of 164% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥194 per share. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥140, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 31x in the Biotechs industry in China. Total returns to shareholders of 188% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥188 per share. Price Target Changed • Mar 01
Price target decreased to CN¥193 Down from CN¥208, the current price target is an average from 13 analysts. New target price is 52% above last closing price of CN¥127. Stock is down 30% over the past year. The company is forecast to post earnings per share of CN¥6.40 for next year compared to CN¥6.37 last year. Major Estimate Revision • Feb 26
Consensus EPS estimates increase by 10% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from CN¥31.6b to CN¥32.2b. EPS estimate increased from CN¥5.85 to CN¥6.45 per share. Net income forecast to shrink 9.1% next year vs 40% growth forecast for Biotechs industry in China . Consensus price target down from CN¥208 to CN¥199. Share price was steady at CN¥126 over the past week. Reported Earnings • Feb 09
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: CN¥6.37 (up from CN¥2.06 in FY 2020). Revenue: CN¥30.6b (up 102% from FY 2020). Net income: CN¥10.2b (up 209% from FY 2020). Profit margin: 33% (up from 22% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 22%. Earnings per share (EPS) also surpassed analyst estimates by 38%. Over the next year, revenue is forecast to grow 3.0%, compared to a 45% growth forecast for the pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 01
Third quarter 2021 earnings released: EPS CN¥1.82 (vs CN¥0.61 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥8.66b (up 113% from 3Q 2020). Net income: CN¥2.91b (up 199% from 3Q 2020). Profit margin: 34% (up from 24% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 54% per year, which means it is significantly lagging earnings growth. Board Change • Oct 31
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. 10 experienced directors. 1 highly experienced director. Independent Director Xujiang Chen was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 02
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. 11 experienced directors. 1 highly experienced director. Non-Independent Director Lin Du was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Aug 30
Second quarter 2021 earnings released: EPS CN¥2.85 (vs CN¥0.62 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥9.24b (up 112% from 2Q 2020). Net income: CN¥4.55b (up 361% from 2Q 2020). Profit margin: 49% (up from 23% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has increased by 60% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment deteriorated over the past week After last week's 19% share price decline to CN¥156, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 47x in the Biotechs industry in China. Total returns to shareholders of 327% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥117 per share. Price Target Changed • Apr 27
Price target increased to CN¥219 Up from CN¥204, the current price target is an average from 10 analysts. New target price is 5.9% above last closing price of CN¥207. Stock is up 146% over the past year. Major Estimate Revision • Apr 26
Consensus revenue estimates increase to CN¥26.1b The consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from CN¥20.6b to CN¥26.1b. EPS estimate increased from CN¥2.84 to CN¥4.57 per share. Net income forecast to grow 108% next year vs 55% growth forecast for Biotechs industry in China. Consensus price target up from CN¥204 to CN¥209. Share price rose 5.6% to CN¥198 over the past week. Reported Earnings • Apr 20
First quarter 2021 earnings released: EPS CN¥0.59 (vs CN¥0.32 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥3.93b (up 49% from 1Q 2020). Net income: CN¥938.2m (up 82% from 1Q 2020). Profit margin: 24% (up from 20% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has increased by 70% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 19% share price decline to CN¥148, the stock is trading at a trailing P/E ratio of 71.6x, down from the previous P/E ratio of 88.2x. This compares to an average P/E of 56x in the Biotechs industry in China. Total returns to shareholders over the past three years are 363%. Announcement • Mar 08
Chongqing Zhifei Biological Products Co., Ltd. to Report Fiscal Year 2020 Results on Apr 20, 2021 Chongqing Zhifei Biological Products Co., Ltd. announced that they will report fiscal year 2020 results on Apr 20, 2021 Is New 90 Day High Low • Jan 25
New 90-day high: CN¥167 The company is up 14% from its price of CN¥146 on 27 October 2020. The Chinese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥92.95 per share.