Announcement • Jun 30
Pingdingshan Tianan Coal. Mining Co., Ltd. to Report First Half, 2026 Results on Aug 25, 2026 Pingdingshan Tianan Coal. Mining Co., Ltd. announced that they will report first half, 2026 results on Aug 25, 2026 Reported Earnings • May 01
First quarter 2026 earnings released: EPS: CN¥0.049 (vs CN¥0.061 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.049 (down from CN¥0.061 in 1Q 2025). Revenue: CN¥6.34b (up 17% from 1Q 2025). Net income: CN¥120.1m (down 21% from 1Q 2025). Profit margin: 1.9% (down from 2.8% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Announcement • Apr 30
Pingdingshan Tianan Coal. Mining Co., Ltd., Annual General Meeting, May 26, 2026 Pingdingshan Tianan Coal. Mining Co., Ltd., Annual General Meeting, May 26, 2026, at 09:30 China Standard Time. Location: No. 2, Minzhu Road, Pingdingshan, Henan China Announcement • Mar 30
Pingdingshan Tianan Coal. Mining Co., Ltd. to Report Q1, 2026 Results on Apr 23, 2026 Pingdingshan Tianan Coal. Mining Co., Ltd. announced that they will report Q1, 2026 results on Apr 23, 2026 Buy Or Sell Opportunity • Mar 04
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to CN¥9.13. The fair value is estimated to be CN¥7.60, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Earnings per share has declined by 51%. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to grow by 102% in the next 2 years. Announcement • Dec 26
Pingdingshan Tianan Coal. Mining Co., Ltd. to Report Fiscal Year 2025 Results on Apr 23, 2026 Pingdingshan Tianan Coal. Mining Co., Ltd. announced that they will report fiscal year 2025 results on Apr 23, 2026 Reported Earnings • Nov 04
Third quarter 2025 earnings released: EPS: CN¥0.01 (vs CN¥0.26 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.01 (down from CN¥0.26 in 3Q 2024). Revenue: CN¥4.70b (down 33% from 3Q 2024). Net income: CN¥21.8m (down 97% from 3Q 2024). Profit margin: 0.5% (down from 9.3% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Oil and Gas industry in China. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Oct 03
Now 20% undervalued Over the last 90 days, the stock has risen 5.2% to CN¥7.88. The fair value is estimated to be CN¥9.88, however this is not to be taken as a buy 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 41%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 13% in the next 2 years. Announcement • Sep 30
Pingdingshan Tianan Coal. Mining Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Pingdingshan Tianan Coal. Mining Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 New Risk • Aug 29
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.8x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 127% Paying a dividend despite having no free cash flows. Minor Risk Profit margins are more than 30% lower than last year (5.0% net profit margin). New Risk • Aug 28
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 127% The company is paying a dividend despite having no free cash flows. Dividend yield: 7.6% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 127% Paying a dividend despite having no free cash flows. Minor Risk Profit margins are more than 30% lower than last year (5.0% net profit margin). Buy Or Sell Opportunity • Jul 31
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.5% to CN¥7.93. The fair value is estimated to be CN¥10.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.5% over the last 3 years. Earnings per share has declined by 29%. Revenue is forecast to grow by 5.3% in 2 years. Earnings are forecast to decline by 17% in the next 2 years. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥8.77, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Oil and Gas industry in China. Total loss to shareholders of 4.5% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥10.18 per share. Announcement • Jun 30
Pingdingshan Tianan Coal. Mining Co., Ltd. to Report First Half, 2025 Results on Aug 30, 2025 Pingdingshan Tianan Coal. Mining Co., Ltd. announced that they will report first half, 2025 results on Aug 30, 2025 Buy Or Sell Opportunity • Jun 09
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to CN¥7.80. The fair value is estimated to be CN¥10.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.5% over the last 3 years. Earnings per share has declined by 29%. Revenue is forecast to grow by 5.3% in 2 years. Earnings are forecast to decline by 17% in the next 2 years. Upcoming Dividend • Jun 03
Upcoming dividend of CN¥0.60 per share Eligible shareholders must have bought the stock before 09 June 2025. Payment date: 09 June 2025. Payout ratio is on the higher end at 84% but the company is not cash flow positive. Trailing yield: 7.1%. Within top quartile of Chinese dividend payers (2.2%). Higher than average of industry peers (5.8%). Major Estimate Revision • May 05
Consensus EPS estimates fall by 19% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥27.8b to CN¥27.4b. EPS estimate also fell from CN¥0.528 per share to CN¥0.426 per share. Net income forecast to shrink 36% next year vs 9.7% growth forecast for Oil and Gas industry in China . Consensus price target of CN¥10.11 unchanged from last update. Share price fell 2.0% to CN¥8.22 over the past week. Reported Earnings • Apr 29
First quarter 2025 earnings released: EPS: CN¥0.061 (vs CN¥0.32 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.061 (down from CN¥0.32 in 1Q 2024). Revenue: CN¥5.40b (down 35% from 1Q 2024). Net income: CN¥151.8m (down 80% from 1Q 2024). Profit margin: 2.8% (down from 9.0% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Oil and Gas industry in China. Over the last 3 years on average, earnings per share has fallen by 29% 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 • Mar 28
Pingdingshan Tianan Coal. Mining Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Pingdingshan Tianan Coal. Mining Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Major Estimate Revision • Mar 27
Consensus revenue estimates fall by 13% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥31.9b to CN¥27.8b. EPS estimate fell from CN¥1.24 to CN¥0.528 per share. Net income forecast to shrink 44% next year vs 14% growth forecast for Oil and Gas industry in China . Consensus price target down from CN¥12.47 to CN¥10.27. Share price fell 2.1% to CN¥8.79 over the past week. Announcement • Mar 21
Pingdingshan Tianan Coal. Mining Co., Ltd., Annual General Meeting, Apr 10, 2025 Pingdingshan Tianan Coal. Mining Co., Ltd., Annual General Meeting, Apr 10, 2025, at 09:30 China Standard Time. Location: No. 2, Minzhu Road, Pingdingshan, Henan China Reported Earnings • Mar 21
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: CN¥0.96 (down from CN¥1.73 in FY 2023). Revenue: CN¥30.3b (down 4.1% from FY 2023). Net income: CN¥2.35b (down 41% from FY 2023). Profit margin: 7.8% (down from 13% in FY 2023). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 4.1% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Oil and Gas 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 15% per year. Buy Or Sell Opportunity • Feb 28
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 18% to CN¥8.54. The fair value is estimated to be CN¥10.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 2.7%. Revenue is forecast to grow by 2.8% in 2 years. Earnings are forecast to grow by 12% in the next 2 years. Buy Or Sell Opportunity • Jan 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to CN¥8.98. The fair value is estimated to be CN¥11.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 2.7%. Revenue is forecast to grow by 2.8% in 2 years. Earnings are forecast to grow by 12% in the next 2 years. Announcement • Dec 27
Pingdingshan Tianan Coal. Mining Co., Ltd. to Report Fiscal Year 2024 Results on Mar 21, 2025 Pingdingshan Tianan Coal. Mining Co., Ltd. announced that they will report fiscal year 2024 results on Mar 21, 2025 Announcement • Oct 31
Pingdingshan Tianan Coal. Mining Co., Ltd. (SHSE:601666) announces an Equity Buyback for CNY 500 million worth of its shares. Pingdingshan Tianan Coal. Mining Co., Ltd. (SHSE:601666) announces a share repurchase program. Under the program, the company will repurchase up to CNY 500 million worth of its A shares. The shares will be repurchased at a price not more than CNY 14.36 per share. The source of funding for the repurchase will be special loans from the Pingdingshan Branch of Industrial and Commercial Bank of China and the company’s own funds. The repurchased shares will be used for equity incentives. The program will be valid for a period of 12 months. Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: CN¥0.26 (vs CN¥0.39 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.26 (down from CN¥0.39 in 3Q 2023). Revenue: CN¥7.06b (flat on 3Q 2023). Net income: CN¥652.3m (down 28% from 3Q 2023). Profit margin: 9.2% (down from 13% in 3Q 2023). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Oil and Gas industry in China. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Oct 09
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.8% to CN¥10.02. The fair value is estimated to be CN¥12.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Earnings per share has grown by 10.0%. Revenue is forecast to grow by 4.2% in 2 years. Earnings are forecast to grow by 23% in the next 2 years. Announcement • Sep 30
Pingdingshan Tianan Coal. Mining Co., Ltd. to Report Q3, 2024 Results on Oct 26, 2024 Pingdingshan Tianan Coal. Mining Co., Ltd. announced that they will report Q3, 2024 results on Oct 26, 2024 Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥9.20, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 8x in the Oil and Gas industry in China. Total returns to shareholders of 3.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥12.87 per share. Reported Earnings • Aug 22
Second quarter 2024 earnings released: EPS: CN¥0.26 (vs CN¥0.47 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.26 (down from CN¥0.47 in 2Q 2023). Revenue: CN¥8.01b (up 9.1% from 2Q 2023). Net income: CN¥652.1m (down 40% from 2Q 2023). Profit margin: 8.1% (down from 15% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Oil and Gas industry in China. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Aug 21
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥32.1b to CN¥31.4b. EPS estimate also fell from CN¥1.62 per share to CN¥1.38 per share. Net income forecast to grow 12% next year vs 28% growth forecast for Oil and Gas industry in China. Consensus price target of CN¥12.50 unchanged from last update. Share price fell 9.3% to CN¥9.19 over the past week. Buy Or Sell Opportunity • Aug 20
Now 25% undervalued after recent price drop Over the last 90 days, the stock has fallen 35% to CN¥9.20. The fair value is estimated to be CN¥12.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Earnings per share has grown by 9.9%. Revenue is forecast to grow by 5.0% in 2 years. Earnings are forecast to grow by 34% in the next 2 years. Announcement • Jun 28
Pingdingshan Tianan Coal. Mining Co., Ltd. to Report First Half, 2024 Results on Aug 20, 2024 Pingdingshan Tianan Coal. Mining Co., Ltd. announced that they will report first half, 2024 results on Aug 20, 2024 Buy Or Sell Opportunity • May 08
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to CN¥13.85. The fair value is estimated to be CN¥11.28, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to grow by 7.5% in 2 years. Earnings are forecast to grow by 22% in the next 2 years. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.32 (vs CN¥0.49 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.32 (down from CN¥0.49 in 1Q 2023). Revenue: CN¥8.24b (down 4.5% from 1Q 2023). Net income: CN¥740.5m (down 35% from 1Q 2023). Profit margin: 9.0% (down from 13% in 1Q 2023). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Oil and Gas industry in China. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 25% per year. Announcement • Mar 29
Pingdingshan Tianan Coal. Mining Co., Ltd. to Report Q1, 2024 Results on Apr 26, 2024 Pingdingshan Tianan Coal. Mining Co., Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Announcement • Mar 19
Pingdingshan Tianan Coal. Mining Co., Ltd., Annual General Meeting, Apr 08, 2024 Pingdingshan Tianan Coal. Mining Co., Ltd., Annual General Meeting, Apr 08, 2024, at 09:30 China Standard Time. Location: No. 2, Minzhu Road, Pingdingshan, Henan China Reported Earnings • Mar 19
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: CN¥1.73 (down from CN¥2.47 in FY 2022). Revenue: CN¥31.6b (down 12% from FY 2022). Net income: CN¥4.00b (down 30% from FY 2022). Profit margin: 13% (down from 16% in FY 2022). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates by 7.6%. Revenue is forecast to grow 1.3% p.a. on average during the next 2 years, compared to a 2.8% growth forecast for the Oil and Gas industry in China. Over the last 3 years on average, earnings per share has increased by 33% per year and the company’s share price has also increased by 33% per year. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥14.60, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Oil and Gas industry in China. Total returns to shareholders of 234% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥9.54 per share. Buy Or Sell Opportunity • Jan 23
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 7.6% to CN¥11.10. The fair value is estimated to be CN¥8.98, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 43%. Revenue is forecast to grow by 4.5% in 2 years. Earnings are forecast to grow by 1.3% in the next 2 years. Announcement • Dec 29
Pingdingshan Tianan Coal. Mining Co., Ltd. to Report Fiscal Year 2023 Results on Mar 19, 2024 Pingdingshan Tianan Coal. Mining Co., Ltd. announced that they will report fiscal year 2023 results on Mar 19, 2024 Price Target Changed • Oct 12
Price target increased by 11% to CN¥10.35 Up from CN¥9.35, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of CN¥10.03. Stock is down 22% over the past year. The company is forecast to post earnings per share of CN¥1.71 for next year compared to CN¥2.47 last year. Reported Earnings • Oct 11
Third quarter 2023 earnings released: EPS: CN¥0.39 (vs CN¥0.59 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.39 (down from CN¥0.59 in 3Q 2022). Revenue: CN¥7.13b (down 19% from 3Q 2022). Net income: CN¥903.7m (down 34% from 3Q 2022). Profit margin: 13% (down from 16% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 2.8% growth forecast for the Oil and Gas industry in China. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Pingdingshan Tianan Coal. Mining Co., Ltd. to Report Q3, 2023 Results on Oct 11, 2023 Pingdingshan Tianan Coal. Mining Co., Ltd. announced that they will report Q3, 2023 results on Oct 11, 2023 Announcement • Sep 09
Pingdingshan Tianan Coal. Mining Co., Ltd. (SHSE:601666) announces an Equity Buyback for CNY 300 million worth of its shares. Pingdingshan Tianan Coal. Mining Co., Ltd. (SHSE:601666) announces a share repurchase program. Under the program, the company will repurchase up to CNY 300 million worth of its shares. The shares will be repurchased at a price not more than CNY 12.78 per share. The repurchased shares will be used for equity incentives. The program will be valid for a period of 12 months. Announcement • Sep 06
Pingdingshan Tianan Coal Mining's Senior Execs Plan to Raise Stake in the Company Pingdingshan Tianan Coal. Mining Co., Ltd. (SHSE:601666) Said Controlling Shareholder, Senior Execs Plan to Increase Shareholdings in the Company by Up to 200,000 Shares Within Six Months. Major Estimate Revision • Aug 22
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥34.4b to CN¥32.3b. EPS estimate also fell from CN¥2.03 per share to CN¥1.82 per share. Net income forecast to shrink 18% next year vs 10% growth forecast for Oil and Gas industry in China . Consensus price target of CN¥10.85 unchanged from last update. Share price fell 2.7% to CN¥7.51 over the past week. New Risk • Jul 12
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.3% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 3.3% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Jun 28
Pingdingshan Tianan Coal. Mining Co., Ltd. to Report First Half, 2023 Results on Aug 18, 2023 Pingdingshan Tianan Coal. Mining Co., Ltd. announced that they will report first half, 2023 results on Aug 18, 2023 Valuation Update With 7 Day Price Move • May 30
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥8.31, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 6x in the Oil and Gas industry in China. Total returns to shareholders of 154% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥5.81 per share. Reported Earnings • Mar 18
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥2.47 (up from CN¥1.26 in FY 2021). Revenue: CN¥36.0b (up 21% from FY 2021). Net income: CN¥5.72b (up 96% from FY 2021). Profit margin: 16% (up from 9.8% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 5.3%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Oil and Gas industry in China. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 16
Price target increased to CN¥17.51 Up from CN¥6.27, the current price target is provided by 1 analyst. New target price is 41% above last closing price of CN¥12.41. Stock is up 65% over the past year. The company is forecast to post earnings per share of CN¥2.65 for next year compared to CN¥1.26 last year. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: CN¥0.59 (vs CN¥0.31 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.59 (up from CN¥0.31 in 3Q 2021). Revenue: CN¥8.80b (up 27% from 3Q 2021). Net income: CN¥1.36b (up 92% from 3Q 2021). Profit margin: 16% (up from 10% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Oil and Gas industry in China. 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 45% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 21
Second quarter 2022 earnings released: EPS: CN¥0.75 (vs CN¥0.23 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.75 (up from CN¥0.23 in 2Q 2021). Revenue: CN¥9.72b (up 53% from 2Q 2021). Net income: CN¥1.73b (up 238% from 2Q 2021). Profit margin: 18% (up from 8.1% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 11%, compared to a 9.7% growth forecast for the Oil and Gas industry in China. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 48% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥13.37, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 6x in the Oil and Gas industry in China. Total returns to shareholders of 272% over the past three years. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥16.26, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 6x in the Oil and Gas industry in China. Total returns to shareholders of 346% over the past three years. Reported Earnings • Apr 28
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: CN¥0.70 (up from CN¥0.23 in 1Q 2021). Revenue: CN¥9.68b (up 53% from 1Q 2021). Net income: CN¥1.63b (up 199% from 1Q 2021). Profit margin: 17% (up from 8.6% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) missed analyst estimates by 7.1%. Over the next year, revenue is forecast to grow 11%, compared to a 8.2% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 46% per year whereas the company’s share price has increased by 50% per year. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥16.40, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 8x in the Oil and Gas industry in China. Total returns to shareholders of 315% over the past three years. Reported Earnings • Mar 31
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥1.26 (up from CN¥0.60 in FY 2020). Revenue: CN¥29.7b (up 33% from FY 2020). Net income: CN¥2.92b (up 111% from FY 2020). Profit margin: 9.8% (up from 6.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) missed analyst estimates by 7.1%. Over the next year, revenue is forecast to grow 11%, compared to a 11% growth forecast for the oil industry in China. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥14.09, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 8x in the Oil and Gas industry in China. Total returns to shareholders of 287% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥22.80 per share. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥14.45, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 8x in the Oil and Gas industry in China. Total returns to shareholders of 276% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥23.38 per share. Reported Earnings • Mar 02
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥1.26 (up from CN¥0.60 in FY 2020). Revenue: CN¥29.7b (up 33% from FY 2020). Net income: CN¥2.92b (up 111% from FY 2020). Profit margin: 9.8% (up from 6.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 11%, compared to a 22% growth forecast for the oil industry in China. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 13
Investor sentiment improved over the past week After last week's 25% share price gain to CN¥11.25, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 8x in the Oil and Gas industry in China. Total returns to shareholders of 242% over the past three years. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥10.70, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Oil and Gas industry in China. Total returns to shareholders of 233% over the past three years. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CN¥8.38, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 7x in the Oil and Gas industry in China. Total returns to shareholders of 148% over the past three years. Reported Earnings • Oct 26
Third quarter 2021 earnings released: EPS CN¥0.31 (vs CN¥0.15 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥6.92b (up 29% from 3Q 2020). Net income: CN¥710.4m (up 111% from 3Q 2020). Profit margin: 10% (up from 6.3% 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 30% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 20% share price decline to CN¥10.27, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Oil and Gas industry in China. Total returns to shareholders of 211% over the past three years. Valuation Update With 7 Day Price Move • Sep 23
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥12.17, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Oil and Gas industry in China. Total returns to shareholders of 239% over the past three years. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥10.43, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 12x in the Oil and Gas industry in China. Total returns to shareholders of 202% over the past three years. Valuation Update With 7 Day Price Move • Aug 10
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥7.26, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Oil and Gas industry in China. Total returns to shareholders of 96% over the past three years. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥7.66, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Oil and Gas industry in China. Total returns to shareholders of 92% over the past three years. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improved over the past week After last week's 23% share price gain to CN¥8.14, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 10x in the Oil and Gas industry in China. Total returns to shareholders of 95% over the past three years. Major Estimate Revision • May 05
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate increased from CN¥0.61 to CN¥0.80. Revenue forecast steady at CN¥24.1b. Net income forecast to grow 19% next year vs 30% growth forecast for Oil and Gas industry in China. Consensus price target up from CN¥6.27 to CN¥6.93. Share price rose 11% to CN¥6.60 over the past week. Reported Earnings • Apr 28
First quarter 2021 earnings released: EPS CN¥0.23 (vs CN¥0.13 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥6.31b (up 8.4% from 1Q 2020). Net income: CN¥544.5m (up 82% from 1Q 2020). Profit margin: 8.6% (up from 5.1% 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 18% per year whereas the company’s share price has increased by 14% per year. Reported Earnings • Apr 02
Full year 2020 earnings released: EPS CN¥0.60 (vs CN¥0.49 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CN¥22.4b (down 5.2% from FY 2019). Net income: CN¥1.39b (up 20% from FY 2019). Profit margin: 6.2% (up from 4.9% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Jan 28
New 90-day low: CN¥5.14 The company is down 1.0% from its price of CN¥5.21 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 Oil and Gas industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥2.19 per share. Price Target Changed • Nov 01
Price target raised to CN¥6.27 Up from CN¥5.14, the current price target is an average from 3 analysts. The new target price is 20% above the current share price of CN¥5.21. As of last close, the stock is up 37% over the past year. Reported Earnings • Oct 23
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥1.31b, up 22% from the prior year. Total revenue was CN¥22.6b over the last 12 months, down 4.4% from the prior year.