Buy Or Sell Opportunity • Jun 23
Now 23% overvalued Over the last 90 days, the stock has fallen 8.8% to CN¥3.09. The fair value is estimated to be CN¥2.50, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Earnings per share has declined by 96%. Reported Earnings • Apr 21
Full year 2025 earnings released: EPS: CN¥0.01 (vs CN¥0.01 in FY 2024) Full year 2025 results: EPS: CN¥0.01 (in line with FY 2024). Revenue: CN¥4.94b (down 15% from FY 2024). Net income: CN¥18.5m (down 14% from FY 2024). Profit margin: 0.4% (in line with FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Announcement • Apr 21
Tianjin Chase Sun Pharmaceutical Co.,Ltd, Annual General Meeting, May 20, 2026 Tianjin Chase Sun Pharmaceutical Co.,Ltd, Annual General Meeting, May 20, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Tianjin China Announcement • Mar 31
Tianjin Chase Sun Pharmaceutical Co.,Ltd to Report Q1, 2026 Results on Apr 29, 2026 Tianjin Chase Sun Pharmaceutical Co.,Ltd announced that they will report Q1, 2026 results on Apr 29, 2026 New Risk • Feb 02
New major risk - Revenue and earnings growth Earnings have declined by 30% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 30% per year over the past 5 years. Minor Risk Paying a dividend despite being loss-making. Buy Or Sell Opportunity • Jan 13
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at CN¥3.74. The fair value is estimated to be CN¥3.10, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 8.5% over the last 3 years. Meanwhile, the company became loss making. Announcement • Dec 31
Tianjin Chase Sun Pharmaceutical Co.,Ltd to Report Fiscal Year 2025 Results on Apr 21, 2026 Tianjin Chase Sun Pharmaceutical Co.,Ltd announced that they will report fiscal year 2025 results on Apr 21, 2026 Buy Or Sell Opportunity • Nov 26
Now 21% overvalued Over the last 90 days, the stock has fallen 5.5% to CN¥3.75. The fair value is estimated to be CN¥3.10, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 8.5% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Oct 31
Now 23% overvalued Over the last 90 days, the stock has fallen 12% to CN¥3.82. The fair value is estimated to be CN¥3.10, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 8.5% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Oct 29
Third quarter 2025 earnings released: EPS: CN¥0.001 (vs CN¥0.008 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.001 (down from CN¥0.008 in 3Q 2024). Revenue: CN¥1.35b (down 6.3% from 3Q 2024). Net income: CN¥2.13m (down 89% from 3Q 2024). Profit margin: 0.2% (down from 1.4% in 3Q 2024). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 28
Second quarter 2025 earnings released: EPS: CN¥0.008 (vs CN¥0.03 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.008 (down from CN¥0.03 in 2Q 2024). Revenue: CN¥1.40b (down 8.5% from 2Q 2024). Net income: CN¥18.3m (down 80% from 2Q 2024). Profit margin: 1.3% (down from 5.9% in 2Q 2024). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • Jul 02
Tianjin Chase Sun Pharmaceutical Co.,Ltd to Report First Half, 2025 Results on Aug 28, 2025 Tianjin Chase Sun Pharmaceutical Co.,Ltd announced that they will report first half, 2025 results on Aug 28, 2025 Buy Or Sell Opportunity • Jul 01
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to CN¥3.99. The fair value is estimated to be CN¥3.16, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 49%. Revenue is forecast to grow by 19% in 2 years. Earnings are forecast to grow by 2,252% in the next 2 years. Major Estimate Revision • Jun 13
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥6.51b to CN¥6.09b. EPS estimate also fell from CN¥0.19 per share to CN¥0.15 per share. Net income forecast to grow 1,892% next year vs 23% growth forecast for Pharmaceuticals industry in China. Consensus price target up from CN¥4.00 to CN¥4.30. Share price was steady at CN¥3.81 over the past week. Buy Or Sell Opportunity • May 21
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 5.0% to CN¥3.80. The fair value is estimated to be CN¥3.16, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 49%. Revenue is forecast to grow by 16% in a year. Earnings are forecast to grow by 2,364% in the next year. Reported Earnings • Apr 29
First quarter 2025 earnings released: EPS: CN¥0.02 (vs CN¥0.02 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.02 (in line with 1Q 2024). Revenue: CN¥1.39b (down 4.8% from 1Q 2024). Net income: CN¥60.3m (up 3.8% from 1Q 2024). Profit margin: 4.3% (up from 4.0% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Announcement • Apr 28
Tianjin Chase Sun Pharmaceutical Co.,Ltd, Annual General Meeting, May 20, 2025 Tianjin Chase Sun Pharmaceutical Co.,Ltd, Annual General Meeting, May 20, 2025, at 14:30 China Standard Time. Location: The Company's Meeting Room, Tianjin China Announcement • Mar 31
Tianjin Chase Sun Pharmaceutical Co.,Ltd to Report Q1, 2025 Results on Apr 28, 2025 Tianjin Chase Sun Pharmaceutical Co.,Ltd announced that they will report Q1, 2025 results on Apr 28, 2025 Reported Earnings • Feb 28
Full year 2024 earnings released: EPS: CN¥0.02 (vs CN¥0.17 in FY 2023) Full year 2024 results: EPS: CN¥0.02 (down from CN¥0.17 in FY 2023). Revenue: CN¥5.78b (down 5.3% from FY 2023). Net income: CN¥51.1m (down 90% from FY 2023). Profit margin: 0.9% (down from 8.3% in FY 2023). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Announcement • Dec 31
Tianjin Chase Sun Pharmaceutical Co.,Ltd to Report Fiscal Year 2024 Results on Mar 31, 2025 Tianjin Chase Sun Pharmaceutical Co.,Ltd announced that they will report fiscal year 2024 results on Mar 31, 2025 Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: CN¥0.008 (vs CN¥0.051 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.008 (down from CN¥0.051 in 3Q 2023). Revenue: CN¥1.44b (down 3.6% from 3Q 2023). Net income: CN¥20.1m (down 88% from 3Q 2023). Profit margin: 1.4% (down from 11% in 3Q 2023). Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥3.79, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 19x in the Pharmaceuticals industry in China. Total loss to shareholders of 9.8% over the past three years. Announcement • Sep 30
Tianjin Chase Sun Pharmaceutical Co.,Ltd to Report Q3, 2024 Results on Oct 25, 2024 Tianjin Chase Sun Pharmaceutical Co.,Ltd announced that they will report Q3, 2024 results on Oct 25, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥3.60, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 17x in the Pharmaceuticals industry in China. Total loss to shareholders of 14% over the past three years. Reported Earnings • Aug 30
Second quarter 2024 earnings released: EPS: CN¥0.03 (vs CN¥0.06 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.03 (down from CN¥0.06 in 2Q 2023). Revenue: CN¥1.53b (down 13% from 2Q 2023). Net income: CN¥90.1m (down 47% from 2Q 2023). Profit margin: 5.9% (down from 9.7% in 2Q 2023). Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 11% per year. Announcement • Jun 29
Tianjin Chase Sun Pharmaceutical Co.,Ltd to Report First Half, 2024 Results on Aug 30, 2024 Tianjin Chase Sun Pharmaceutical Co.,Ltd announced that they will report first half, 2024 results on Aug 30, 2024 Declared Dividend • May 20
Dividend of CN¥0.03 announced Dividend of CN¥0.03 is the same as last year. Ex-date: 23rd May 2024 Payment date: 23rd May 2024 Dividend yield will be 0.8%, which is lower than the industry average of 1.9%. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (9% cash payout ratio). The dividend has increased by an average of 7.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 57% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 27
First quarter 2024 earnings released: EPS: CN¥0.02 (vs CN¥0.06 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.02 (down from CN¥0.06 in 1Q 2023). Revenue: CN¥1.46b (down 12% from 1Q 2023). Net income: CN¥58.1m (down 67% from 1Q 2023). Profit margin: 4.0% (down from 11% in 1Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Pharmaceuticals 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 5% per year. New Risk • Mar 31
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 33% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Announcement • Mar 30
Tianjin Chase Sun Pharmaceutical Co.,Ltd to Report Q1, 2024 Results on Apr 26, 2024 Tianjin Chase Sun Pharmaceutical Co.,Ltd announced that they will report Q1, 2024 results on Apr 26, 2024 Reported Earnings • Mar 30
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.17 (down from CN¥0.21 in FY 2022). Revenue: CN¥6.11b (down 8.1% from FY 2022). Net income: CN¥506.6m (down 19% from FY 2022). Profit margin: 8.3% (down from 9.4% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 8.4%. Earnings per share (EPS) also missed analyst estimates by 5.6%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 1% per year. Announcement • Mar 29
Tianjin Chase Sun Pharmaceutical Co.,Ltd, Annual General Meeting, Apr 22, 2024 Tianjin Chase Sun Pharmaceutical Co.,Ltd, Annual General Meeting, Apr 22, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Tianjin China Reported Earnings • Mar 01
Full year 2023 earnings released: EPS: CN¥0.18 (vs CN¥0.21 in FY 2022) Full year 2023 results: EPS: CN¥0.18 (down from CN¥0.21 in FY 2022). Revenue: CN¥6.13b (down 7.9% from FY 2022). Net income: CN¥529.2m (down 15% from FY 2022). Profit margin: 8.6% (down from 9.4% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 3% per year. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥3.22, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 23x in the Pharmaceuticals industry in China. Total loss to shareholders of 14% over the past three years. Announcement • Dec 29
Tianjin Chase Sun Pharmaceutical Co.,Ltd to Report Fiscal Year 2023 Results on Mar 29, 2024 Tianjin Chase Sun Pharmaceutical Co.,Ltd announced that they will report fiscal year 2023 results on Mar 29, 2024 Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: CN¥0.051 (vs CN¥0.04 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.051 (up from CN¥0.04 in 3Q 2022). Revenue: CN¥1.50b (down 5.6% from 3Q 2022). Net income: CN¥163.3m (up 38% from 3Q 2022). Profit margin: 11% (up from 7.4% in 3Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: CN¥0.06 (vs CN¥0.039 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.06 (up from CN¥0.039 in 2Q 2022). Revenue: CN¥1.76b (up 12% from 2Q 2022). Net income: CN¥170.4m (up 50% from 2Q 2022). Profit margin: 9.7% (up from 7.2% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • May 09
Tianjin Chase Sun Pharmaceutical Co.,Ltd. Approves Final Cash Dividend for A Shares for the Year 2022, Payable on 12 May 2023 Tianjin Chase Sun Pharmaceutical Co.,Ltd approved final Cash dividend/10 shares (tax included) of CNY 5.00000000 for A shares for the year 2022. Record date is 11 May 2023. Ex-date is 12 May 2023. Payment date is 12 May 2023. Reported Earnings • Mar 01
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: CN¥0.21 (down from CN¥0.23 in FY 2021). Revenue: CN¥6.65b (down 13% from FY 2021). Net income: CN¥624.8m (down 9.1% from FY 2021). Profit margin: 9.4% (up from 9.0% in FY 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) exceeded analyst estimates by 5.0%. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 13% per year. Valuation Update With 7 Day Price Move • Dec 13
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥7.35, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 21x in the Pharmaceuticals industry in China. Total returns to shareholders of 119% over the past three years. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Li Li was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 25
Third quarter 2022 earnings released: EPS: CN¥0.04 (vs CN¥0.061 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.04 (down from CN¥0.061 in 3Q 2021). Revenue: CN¥1.59b (down 21% from 3Q 2021). Net income: CN¥118.3m (down 41% from 3Q 2021). Profit margin: 7.4% (down from 10.0% in 3Q 2021). The decrease in margin was driven by lower revenue. 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 22% per year. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improved over the past week After last week's 22% share price gain to CN¥6.17, the stock trades at a trailing P/E ratio of 30.8x. Average trailing P/E is 33x in the Pharmaceuticals industry in China. Total returns to shareholders of 88% over the past three years. Reported Earnings • Sep 04
Second quarter 2022 earnings released: EPS: CN¥0.039 (vs CN¥0.093 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.039 (down from CN¥0.093 in 2Q 2021). Revenue: CN¥1.58b (down 14% from 2Q 2021). Net income: CN¥114.0m (down 53% from 2Q 2021). Profit margin: 7.2% (down from 13% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. 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¥6.73, the stock trades at a trailing P/E ratio of 27.6x. Average trailing P/E is 32x in the Pharmaceuticals industry in China. Total returns to shareholders of 97% over the past three years. Announcement • May 13
Tianjin Chase Sun Pharmaceutical Co.,Ltd Announces Final Cash Dividend on A Shares for the Year 2021, Payable on May 19, 2022 Tianjin Chase Sun Pharmaceutical Co.,Ltd announced final cash dividend/10 shares (tax included) of CNY 0.40000000 on A shares for the year 2021. Record date is 18 May 2022. Ex-date is 19 May 2022. Payment date is 19 May 2022. Reported Earnings • Apr 29
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: CN¥0.08 (up from CN¥0.06 in 1Q 2021). Revenue: CN¥1.73b (up 5.7% from 1Q 2021). Net income: CN¥238.2m (up 23% from 1Q 2021). Profit margin: 14% (up from 12% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) exceeded analyst estimates by 15%. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Li Li was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 23
Tianjin Chase Sun Pharmaceutical Co.,Ltd Approves Profit Distribution Proposal for 2021 Tianjin Chase Sun Pharmaceutical Co.,Ltd held its Annual General Meeting of 2021 on 21 April 2022 approved the profit distribution proposal for 2021 as cash dividend/10 shares (tax included): CNY 0.40000000. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥6.99, the stock trades at a trailing P/E ratio of 30.6x. Average trailing P/E is 33x in the Pharmaceuticals industry in China. Total returns to shareholders of 96% over the past three years. Announcement • Apr 02
Tianjin Chase Sun Pharmaceutical Co.,Ltd, Annual General Meeting, Apr 21, 2022 Tianjin Chase Sun Pharmaceutical Co.,Ltd, Annual General Meeting, Apr 21, 2022, at 14:00 China Standard Time. Agenda: To consider 2021 annual report and its summary; to consider 2021 work report of the board of directors; to consider 2021 work report of the supervisory committee; 2021 annual accounts; to consider 2021 profit distribution plan; to consider reappointment of 2022 audit firm; to consider election of non-independent, independent directors and non-employee supervisors, cumulative voting system applicable; and to consider other matters. Reported Earnings • Apr 02
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: CN¥0.23 (up from CN¥0.19 in FY 2020). Revenue: CN¥7.74b (up 19% from FY 2020). Net income: CN¥688.3m (up 20% from FY 2020). Profit margin: 8.9% (up from 8.8% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) exceeded analyst estimates by 15%. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Announcement • Apr 01
Tianjin Chase Sun Pharmaceutical Co.,Ltd Proposes Cash Dividend for 2021 Tianjin Chase Sun Pharmaceutical Co.,Ltd announced on 31 March 2022 the profit distribution proposal for 2021 as cash dividend/10 shares (tax included): CNY 0.40000000. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improved over the past week After last week's 25% share price gain to CN¥7.66, the stock trades at a trailing P/E ratio of 33.4x. Average trailing P/E is 32x in the Pharmaceuticals industry in China. Total returns to shareholders of 119% over the past three years. Reported Earnings • Mar 02
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: CN¥0.23 (up from CN¥0.19 in FY 2020). Revenue: CN¥7.74b (up 19% from FY 2020). Net income: CN¥688.3m (up 20% from FY 2020). Profit margin: 8.9% (up from 8.8% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) exceeded analyst estimates by 15%. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥6.98, the stock trades at a trailing P/E ratio of 34.3x. Average trailing P/E is 33x in the Pharmaceuticals industry in China. Total returns to shareholders of 109% over the past three years. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥6.89, the stock trades at a trailing P/E ratio of 33.9x. Average trailing P/E is 38x in the Pharmaceuticals industry in China. Total returns to shareholders of 133% over the past three years. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improved over the past week After last week's 24% share price gain to CN¥5.35, the stock trades at a trailing P/E ratio of 26.3x. Average trailing P/E is 34x in the Pharmaceuticals industry in China. Total returns to shareholders of 80% over the past three years. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.061 (vs CN¥0.09 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¥2.00b (up 3.8% from 3Q 2020). Net income: CN¥199.2m (down 22% from 3Q 2020). Profit margin: 10.0% (down from 13% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS CN¥0.093 (vs CN¥0.067 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¥1.85b (up 12% from 2Q 2020). Net income: CN¥244.7m (up 4.4% from 2Q 2020). Profit margin: 13% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥4.97, the stock trades at a trailing P/E ratio of 23.7x. Average trailing P/E is 28x in the Pharmaceuticals industry in China. Total returns to shareholders of 38% over the past three years. Announcement • May 21
Tianjin Chase Sun Pharmaceutical Co.,Ltd Approves Cash Dividend for 2020 Tianjin Chase Sun Pharmaceutical Co.,Ltd approved cash dividend of CNY 0.40000000 per 10 shares (tax included) for 2020, at its AGM held on 18 May 2021. Reported Earnings • Apr 28
First quarter 2021 earnings released: EPS CN¥0.06 (vs CN¥0.04 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥1.64b (up 46% from 1Q 2020). Net income: CN¥193.2m (up 77% from 1Q 2020). Profit margin: 12% (up from 9.7% 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 12% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS CN¥0.19 (vs CN¥0.14 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥6.49b (up 30% from FY 2019). Net income: CN¥575.6m (up 43% from FY 2019). Profit margin: 8.9% (up from 8.0% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has remained flat. Announcement • Feb 25
Tianjin Chase Sun Pharmaceutical Co.,Ltd to Report Fiscal Year 2020 Results on Mar 31, 2021 Tianjin Chase Sun Pharmaceutical Co.,Ltd announced that they will report fiscal year 2020 results on Mar 31, 2021 Is New 90 Day High Low • Jan 29
New 90-day low: CN¥4.07 The company is down 26% from its price of CN¥5.52 on 30 October 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is flat over the same period. Is New 90 Day High Low • Jan 13
New 90-day low: CN¥4.26 The company is down 25% from its price of CN¥5.70 on 15 October 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is down 2.0% over the same period. Is New 90 Day High Low • Dec 28
New 90-day low: CN¥4.52 The company is down 18% from its price of CN¥5.52 on 29 September 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is up 3.0% over the same period. Is New 90 Day High Low • Dec 07
New 90-day low: CN¥5.01 The company is down 27% from its price of CN¥6.84 on 08 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 Pharmaceuticals industry, which is down 6.0% over the same period. Announcement • Nov 20
Tianjin Chase Sun Pharmaceutical Co.,Ltd Announces the Election of Li Li as an Independent Director Tianjin Chase Sun Pharmaceutical Co.,Ltd announced the election of Li Li as an independent director. Is New 90 Day High Low • Nov 12
New 90-day low: CN¥5.27 The company is down 3.0% from its price of CN¥5.41 on 14 August 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Pharmaceuticals industry, which is down 7.0% over the same period. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥485.4m, up 83% from the prior year. Total revenue was CN¥6.11b over the last 12 months, up 27% from the prior year. Announcement • Aug 04
Tianjin Chase Sun Pharmaceutical Co.,Ltd to Report First Half, 2020 Results on Aug 25, 2020 Tianjin Chase Sun Pharmaceutical Co.,Ltd announced that they will report first half, 2020 results on Aug 25, 2020 
