Announcement • Jun 30
Zhejiang Hengtong Holding Co.,Ltd. to Report First Half, 2026 Results on Aug 25, 2026 Zhejiang Hengtong Holding Co.,Ltd. announced that they will report first half, 2026 results on Aug 25, 2026 New Risk • Jun 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 8.4% 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: Major Risk High level of non-cash earnings (21% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (8.4% average weekly change). Reported Earnings • Apr 21
First quarter 2026 earnings released: EPS: CN¥0.02 (vs CN¥0.02 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.02 (in line with 1Q 2025). Revenue: CN¥696.6m (up 82% from 1Q 2025). Net income: CN¥71.8m (up 2.5% from 1Q 2025). Profit margin: 10% (down from 18% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 20
Zhejiang Hengtong Holding Co.,Ltd., Annual General Meeting, May 18, 2026 Zhejiang Hengtong Holding Co.,Ltd., Annual General Meeting, May 18, 2026, at 13:00 China Standard Time. Location: The Company's Meeting Room, Deqing County, Zhejiang China Announcement • Mar 30
Zhejiang Hengtong Holding Co.,Ltd. to Report Q1, 2026 Results on Apr 21, 2026 Zhejiang Hengtong Holding Co.,Ltd. announced that they will report Q1, 2026 results on Apr 21, 2026 Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CN¥4.77, the stock trades at a trailing P/E ratio of 74.4x. Average trailing P/E is 47x in the Chemicals industry in China. Total returns to shareholders of 64% over the past three years. New Risk • Mar 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (23% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Profit margins are more than 30% lower than last year (11% net profit margin). Announcement • Dec 26
Zhejiang Hengtong Holding Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 21, 2026 Zhejiang Hengtong Holding Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 21, 2026 New Risk • Dec 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 7.1% 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: Major Risk High level of non-cash earnings (23% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Profit margins are more than 30% lower than last year (11% net profit margin). Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥4.91, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 24x in the Chemicals industry in China. Total returns to shareholders of 111% over the past three years. New Risk • Oct 28
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: Major Risk High level of non-cash earnings (23% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Profit margins are more than 30% lower than last year (11% net profit margin). Reported Earnings • Oct 28
Third quarter 2025 earnings released: EPS: CN¥0.02 (vs CN¥0.02 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.02 (in line with 3Q 2024). Revenue: CN¥443.6m (up 28% from 3Q 2024). Net income: CN¥61.7m (down 13% from 3Q 2024). Profit margin: 14% (down from 20% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Announcement • Sep 30
Zhejiang Hengtong Holding Co.,Ltd. to Report Q3, 2025 Results on Oct 28, 2025 Zhejiang Hengtong Holding Co.,Ltd. announced that they will report Q3, 2025 results on Oct 28, 2025 Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥4.07, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 22x in the Chemicals industry in China. Total returns to shareholders of 59% over the past three years. New Risk • Sep 06
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (24% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (13% net profit margin). Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥3.20, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 24x in the Chemicals industry in China. Total returns to shareholders of 14% over the past three years. Announcement • Jun 30
Zhejiang Hengtong Holding Co.,Ltd. to Report First Half, 2025 Results on Aug 26, 2025 Zhejiang Hengtong Holding Co.,Ltd. announced that they will report first half, 2025 results on Aug 26, 2025 Reported Earnings • Apr 22
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: CN¥0.06 (in line with FY 2023). Revenue: CN¥1.33b (up 106% from FY 2023). Net income: CN¥189.5m (up 14% from FY 2023). Profit margin: 14% (down from 26% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 25%. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Apr 22
Zhejiang Hengtong Holding Co.,Ltd., Annual General Meeting, May 16, 2025 Zhejiang Hengtong Holding Co.,Ltd., Annual General Meeting, May 16, 2025, at 13:00 China Standard Time. Location: The Company's Meeting Room, Deqing County, Zhejiang China Announcement • Mar 28
Zhejiang Hengtong Holding Co.,Ltd. to Report Q1, 2025 Results on Apr 22, 2025 Zhejiang Hengtong Holding Co.,Ltd. announced that they will report Q1, 2025 results on Apr 22, 2025 New Risk • Jan 12
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. Announcement • Dec 27
Zhejiang Hengtong Holding Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 22, 2025 Zhejiang Hengtong Holding Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 22, 2025 Reported Earnings • Oct 27
Third quarter 2024 earnings released: EPS: CN¥0.02 (vs CN¥0.02 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.02 (in line with 3Q 2023). Revenue: CN¥347.0m (up 120% from 3Q 2023). Net income: CN¥70.8m (up 35% from 3Q 2023). Profit margin: 20% (down from 33% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 2% per year. Announcement • Sep 30
Zhejiang Hengtong Holding Co.,Ltd. to Report Q3, 2024 Results on Oct 25, 2024 Zhejiang Hengtong Holding Co.,Ltd. announced that they will report Q3, 2024 results on Oct 25, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to CN¥2.27, the stock trades at a trailing P/E ratio of 39.1x. Average trailing P/E is 30x in the Chemicals industry in China. Total returns to shareholders of 12% over the past three years. Reported Earnings • Aug 23
Second quarter 2024 earnings released: EPS: CN¥0.02 (vs CN¥0.056 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.02 (down from CN¥0.056 in 2Q 2023). Revenue: CN¥356.0m (up 134% from 2Q 2023). Net income: CN¥53.4m (down 20% from 2Q 2023). Profit margin: 15% (down from 44% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Jul 15
Zhejiang Hengtong Holding Co.,Ltd. (SHSE:600226) agreed to acquire the remaining 49% stake in Hengtong Precision Copper Foil Technology (Deyang) from Jiangsu Hengtong Precision Copper for CNY 290 million Zhejiang Hengtong Holding Co.,Ltd. (SHSE:600226) signed a letter of intent to acquire an additional 49% stake in Hengtong Precision Copper Foil Technology (Deyang) Co., Ltd. from Jiangsu Hengtong Precision Copper Co., Ltd for approximately CNY 290 million on July 12, 2024. A cash consideration of CNY 292.96 million will be paid by Zhejiang Hengtong Holding Co.,Ltd. As part of consideration, CNY 292.96 million is paid towards common equity of Hengtong Precision Copper Foil Technology (Deyang) Co., Ltd. Upon completion, Zhejiang Hengtong Holding Co.,Ltd. will own 100% stake in Hengtong Precision Copper Foil Technology (Deyang) Co., Ltd. The transaction will be financed through own funds. As of March 31, 2024, Hengtong Precision Copper Foil Technology (Deyang) Co., Ltd. reported total assets of CNY 1.21 billion and total common equity of CNY 451.68 million.The transaction is subject to approval of offer by acquirer shareholders and approval of offer by acquirer board. The deal has been approved by the board. Announcement • Jun 29
Zhejiang Hengtong Holding Co.,Ltd. to Report First Half, 2024 Results on Aug 23, 2024 Zhejiang Hengtong Holding Co.,Ltd. announced that they will report first half, 2024 results on Aug 23, 2024 Reported Earnings • Apr 24
First quarter 2024 earnings released: EPS: CN¥0.02 (vs CN¥0.01 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.02 (up from CN¥0.01 in 1Q 2023). Revenue: CN¥205.2m (up 59% from 1Q 2023). Net income: CN¥63.2m (up 47% from 1Q 2023). Profit margin: 31% (down from 33% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Apr 23
Zhejiang Hengtong Holding Co.,Ltd., Annual General Meeting, May 16, 2024 Zhejiang Hengtong Holding Co.,Ltd., Annual General Meeting, May 16, 2024, at 13:00 China Standard Time. Location: The Company's Meeting Room, Deqing County, Zhejiang China Announcement • Mar 29
Zhejiang Hugeleaf Co.,Ltd. to Report Q1, 2024 Results on Apr 23, 2024 Zhejiang Hugeleaf Co.,Ltd. announced that they will report Q1, 2024 results on Apr 23, 2024 Announcement • Dec 30
Zhejiang Hugeleaf Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 23, 2024 Zhejiang Hugeleaf Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 23, 2024 Reported Earnings • Oct 30
Third quarter 2023 earnings released: EPS: CN¥0.02 (vs CN¥0.05 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.02 (down from CN¥0.05 in 3Q 2022). Revenue: CN¥158.1m (up 35% from 3Q 2022). Net income: CN¥52.4m (down 65% from 3Q 2022). Profit margin: 33% (down from 127% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: CN¥0.056 (vs CN¥0.021 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.056 (up from CN¥0.021 in 2Q 2022). Revenue: CN¥152.0m (down 1.1% from 2Q 2022). Net income: CN¥66.7m (up 4.4% from 2Q 2022). Profit margin: 44% (up from 42% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Announcement • Jun 28
Zhejiang Hugeleaf Co.,Ltd. to Report First Half, 2023 Results on Aug 11, 2023 Zhejiang Hugeleaf Co.,Ltd. announced that they will report first half, 2023 results on Aug 11, 2023 Reported Earnings • Mar 31
Full year 2022 earnings released: EPS: CN¥0.16 (vs CN¥0.12 in FY 2021) Full year 2022 results: EPS: CN¥0.16 (up from CN¥0.12 in FY 2021). Revenue: CN¥602.1m (down 12% from FY 2021). Net income: CN¥486.0m (up 30% from FY 2021). Profit margin: 81% (up from 55% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 8 new directors. 3 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). VP & Director Jing Bo Tang is the most experienced director on the board, commencing their role in 2015. Independent Director Hong Bo Yu was the last independent 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: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.05 (vs CN¥0.074 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.05 (down from CN¥0.074 in 3Q 2021). Revenue: CN¥117.5m (down 27% from 3Q 2021). Net income: CN¥149.0m (down 45% from 3Q 2021). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 31
Second quarter 2022 earnings released: EPS: CN¥0.021 (vs CN¥0.03 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.021 (down from CN¥0.03 in 2Q 2021). Revenue: CN¥153.7m (down 11% from 2Q 2021). Net income: CN¥63.9m (down 8.3% from 2Q 2021). Profit margin: 42% (up from 40% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 28
Full year 2021 earnings released: EPS: CN¥0.12 (vs CN¥0.30 loss in FY 2020) Full year 2021 results: EPS: CN¥0.12 (up from CN¥0.30 loss in FY 2020). Revenue: CN¥681.2m (up 23% from FY 2020). Net income: CN¥375.0m (up CN¥1.32b from FY 2020). Profit margin: 55% (up from net loss in FY 2020). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Yun Liu was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Jan 19
Suzhou Haixia Dongrui Equity Investment Partnership Enterprise agreed to acquire 90% stake in Qingdao Hanquan Investment Co., Ltd. from Zhejiang Hugeleaf Co.,Ltd. (SHSE:600226) for CNY 170 million. Suzhou Haixia Dongrui Equity Investment Partnership Enterprise agreed to acquire 90% stake in Qingdao Hanquan Investment Co., Ltd. from Zhejiang Hugeleaf Co.,Ltd. (SHSE:600226) for CNY 170 million on January 17, 2022. The deal is subject to approval from Zhejiang Hugeleaf Co.,Ltd. (SHSE:600226) board and shareholders. As of January 17, 2022 Zhejiang Hugeleaf Co.,Ltd. (SHSE:600226) board approved the deal. As at August 31, 2021 Qingdao Hanquan Investment Co., Ltd. recorded the assets of CNY 49 million and net assets of CNY 49 million. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.074 (vs CN¥0.013 in 3Q 2020) Third quarter 2021 results: Revenue: CN¥160.9m (up 15% from 3Q 2020). Net income: CN¥268.9m (up CN¥228.5m from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 31
Second quarter 2021 earnings released: EPS CN¥0.03 (vs CN¥0.032 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥173.0m (down 3.8% from 2Q 2020). Net income: CN¥69.7m (down 46% from 2Q 2020). Profit margin: 40% (down from 72% in 2Q 2020). Reported Earnings • May 03
Full year 2020 earnings released: CN¥0.30 loss per share (vs CN¥0.21 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: CN¥555.7m (down 31% from FY 2019). Net loss: CN¥942.3m (loss widened 40% from FY 2019). Announcement • Mar 12
Hengtong Group Co., Ltd entered into a contract to acquire 4.99% stake in Qingdao Yebio Bioengineering Co., Ltd. from Zhejiang Hugeleaf Co.,Ltd. (SHSE:600226) for approximately CNY 290 million. Hengtong Group Co., Ltd entered into a contract to acquire 4.99% stake in Qingdao Yebio Bioengineering Co., Ltd. from Zhejiang Hugeleaf Co.,Ltd. (SHSE:600226) for approximately CNY 290 million on March 10, 2021. As reported, Hengtong Group Co shall pay a performance bond of CNY 30 million within 3 working days after the signing of this contract by both parties, which shall become effective in this contract as the first equity transfer price on the date on which the transfer is made, second share of equity transfer price of CNY 144.71 million will be paid within 3 working days after the Zhejiang Hugeleaf Co.,Ltd.'s internal competent decision-making body has reviewed and approved the equity transfer and completed the announcement of the equity transfer in accordance with the relevant disclosure requirements of the listed company and the remaining equity transfer price of CNY 114.71 million will be paid within 3 working days after completing the industrial and commercial change registration of the target equity (subject to the "Notice of Approval of Change Registration" issued by the industrial and commercial registration authority). Following the sale, Zhejiang Hugeleaf Co.,Ltd will hold 28.45% stake in Qingdao Yebio Bioengineering Co., Ltd. The transfer of shares and the waiver of the right of first refusal by relevant shareholders still need to be reviewed and approved by Qingdao Yebio Bioengineering Co's Board of Directors. This transaction has been reviewed and approved at the tenth meeting of the eighth session of the Board of Directors of Zhejiang Hugeleaf Co.,Ltd. and does not need to be submitted to the company’s shareholders. Is New 90 Day High Low • Mar 02
New 90-day high: CN¥2.11 The company is up 11% from its price of CN¥1.90 on 02 December 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 15% over the same period. Is New 90 Day High Low • Dec 03
New 90-day high: CN¥1.98 The company is up 1.0% from its price of CN¥1.96 on 04 September 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 4.0% over the same period. Reported Earnings • Nov 01
Third quarter earnings released Over the last 12 months the company has reported total losses of CN¥698.2m, with earnings decreasing by CN¥835.3m from the prior year. Total revenue was CN¥610.2m over the last 12 months, down 35% from the prior year. Announcement • Oct 29
Zhejiang Hugeleaf Co.,Ltd. to Report Q3, 2020 Results on Oct 31, 2020 Zhejiang Hugeleaf Co.,Ltd. announced that they will report Q3, 2020 results on Oct 31, 2020 Announcement • Jul 10
Zhejiang Hugeleaf Co.,Ltd. to Report First Half, 2020 Results on Aug 27, 2020 Zhejiang Hugeleaf Co.,Ltd. announced that they will report first half, 2020 results on Aug 27, 2020 
