Declared Dividend • May 25
Dividend of CN¥0.55 announced Shareholders will receive a dividend of CN¥0.55. Ex-date: 26th May 2026 Payment date: 26th May 2026 Dividend yield will be 3.6%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (81% earnings payout ratio) and cash flows (66% cash payout ratio). The dividend has increased by an average of 6.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 27% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • May 06
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 9.1% to CN¥16.84. The fair value is estimated to be CN¥14.00, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.6% over the last 3 years. Earnings per share has grown by 4.4%. Revenue is forecast to grow by 8.8% in a year. Earnings are forecast to grow by 7.8% in the next year. Reported Earnings • Apr 30
First quarter 2026 earnings released: EPS: CN¥0.33 (vs CN¥0.30 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.33 (up from CN¥0.30 in 1Q 2025). Revenue: CN¥1.05b (up 9.5% from 1Q 2025). Net income: CN¥580.9m (up 7.8% from 1Q 2025). Profit margin: 56% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 7% per year. Announcement • Mar 30
Heilongjiang Agriculture Company Limited to Report Q1, 2026 Results on Apr 29, 2026 Heilongjiang Agriculture Company Limited announced that they will report Q1, 2026 results on Apr 29, 2026 Reported Earnings • Mar 21
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.66 (up from CN¥0.61 in FY 2024). Revenue: CN¥5.23b (down 2.1% from FY 2024). Net income: CN¥1.17b (up 7.3% from FY 2024). Profit margin: 22% (up from 20% in FY 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 6.4%. Earnings per share (EPS) also missed analyst estimates by 3.5%. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 5% per year. Announcement • Mar 20
Heilongjiang Agriculture Company Limited, Annual General Meeting, Apr 15, 2026 Heilongjiang Agriculture Company Limited, Annual General Meeting, Apr 15, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Harbin, Heilongjiang China Announcement • Dec 26
Heilongjiang Agriculture Company Limited to Report Fiscal Year 2025 Results on Mar 21, 2026 Heilongjiang Agriculture Company Limited announced that they will report fiscal year 2025 results on Mar 21, 2026 Reported Earnings • Oct 29
Third quarter 2025 earnings released: EPS: CN¥0.21 (vs CN¥0.20 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.21 (up from CN¥0.20 in 3Q 2024). Revenue: CN¥1.09b (down 13% from 3Q 2024). Net income: CN¥372.4m (up 2.3% from 3Q 2024). Profit margin: 34% (up from 29% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Food industry in China. Over the last 3 years on average, earnings per share has increased by 1% per year and the company’s share price has also increased by 1% per year. Announcement • Sep 30
Heilongjiang Agriculture Company Limited to Report Q3, 2025 Results on Oct 29, 2025 Heilongjiang Agriculture Company Limited announced that they will report Q3, 2025 results on Oct 29, 2025 Announcement • Jun 30
Heilongjiang Agriculture Company Limited to Report First Half, 2025 Results on Aug 28, 2025 Heilongjiang Agriculture Company Limited announced that they will report first half, 2025 results on Aug 28, 2025 Declared Dividend • May 21
Dividend increased to CN¥0.55 Dividend of CN¥0.55 is 25% higher than last year. Ex-date: 23rd May 2025 Payment date: 23rd May 2025 Dividend yield will be 3.6%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is not adequately covered by earnings (91% earnings payout ratio). However, it is covered by cash flows (88% cash payout ratio). The dividend has increased by an average of 3.5% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 1.4% to bring the payout ratio under control. EPS is expected to grow by 20% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • May 02
First quarter 2025 earnings released: EPS: CN¥0.30 (vs CN¥0.31 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.30 (down from CN¥0.31 in 1Q 2024). Revenue: CN¥955.7m (flat on 1Q 2024). Net income: CN¥538.6m (down 2.9% from 1Q 2024). Profit margin: 56% (down from 58% in 1Q 2024). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Food industry in China. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 1% per year. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥17.25, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 18x in the Food industry in China. Total returns to shareholders of 21% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥17.11 per share. Reported Earnings • Mar 30
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: CN¥0.61 (up from CN¥0.60 in FY 2023). Revenue: CN¥5.34b (up 5.8% from FY 2023). Net income: CN¥1.09b (up 2.2% from FY 2023). Profit margin: 20% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.1%. Revenue is forecast to grow 3.9% p.a. on average during the next 2 years, compared to a 9.3% growth forecast for the Food 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 2% per year, which means it is significantly lagging earnings. Announcement • Mar 29
Heilongjiang Agriculture Company Limited, Annual General Meeting, Apr 22, 2025 Heilongjiang Agriculture Company Limited, Annual General Meeting, Apr 22, 2025, at 14:30 China Standard Time. Location: The Company's Meeting Room, Harbin, Heilongjiang China Announcement • Mar 28
Heilongjiang Agriculture Company Limited to Report Q1, 2025 Results on Apr 29, 2025 Heilongjiang Agriculture Company Limited announced that they will report Q1, 2025 results on Apr 29, 2025 Buy Or Sell Opportunity • Feb 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.4% to CN¥13.65. The fair value is estimated to be CN¥17.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 8.3%. Revenue is forecast to grow by 5.4% in 2 years. Earnings are forecast to grow by 26% in the next 2 years. Announcement • Dec 27
Heilongjiang Agriculture Company Limited to Report Fiscal Year 2024 Results on Mar 29, 2025 Heilongjiang Agriculture Company Limited announced that they will report fiscal year 2024 results on Mar 29, 2025 Price Target Changed • Oct 30
Price target increased by 16% to CN¥18.00 Up from CN¥15.50, the current price target is provided by 1 analyst. New target price is 16% above last closing price of CN¥15.50. Stock is up 22% over the past year. The company is forecast to post earnings per share of CN¥0.64 for next year compared to CN¥0.60 last year. Announcement • Sep 30
Heilongjiang Agriculture Company Limited to Report Q3, 2024 Results on Oct 29, 2024 Heilongjiang Agriculture Company Limited announced that they will report Q3, 2024 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥14.86, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 17x in the Food industry in China. Total returns to shareholders of 7.4% over the past three years. Buy Or Sell Opportunity • Sep 27
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to CN¥13.99. The fair value is estimated to be CN¥11.54, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 7.3%. Revenue is forecast to grow by 6.3% in a year. Earnings are forecast to grow by 8.4% in the next year. Buy Or Sell Opportunity • Aug 26
Now 22% overvalued The stock has been flat over the last 90 days, currently trading at CN¥12.97. The fair value is estimated to be CN¥10.67, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 6.3%. Revenue is forecast to grow by 6.2% in a year. Earnings are forecast to grow by 7.1% in the next year. Announcement • Jun 28
Heilongjiang Agriculture Company Limited to Report First Half, 2024 Results on Aug 29, 2024 Heilongjiang Agriculture Company Limited announced that they will report first half, 2024 results on Aug 29, 2024 Declared Dividend • May 22
Dividend increased to CN¥0.44 Dividend of CN¥0.44 is 4.8% higher than last year. Ex-date: 24th May 2024 Payment date: 24th May 2024 Dividend yield will be 3.3%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (72% earnings payout ratio) and cash flows (62% cash payout ratio). The dividend has increased by an average of 1.3% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 6.3% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 30
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: CN¥0.60 (up from CN¥0.55 in FY 2022). Revenue: CN¥5.04b (up 18% from FY 2022). Net income: CN¥1.06b (up 9.1% from FY 2022). Profit margin: 21% (down from 23% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 7.4%. Earnings per share (EPS) missed analyst estimates by 6.6%. Revenue is forecast to grow 6.2% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Food industry in China. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Dec 29
Heilongjiang Agriculture Company Limited to Report Fiscal Year 2023 Results on Mar 29, 2024 Heilongjiang Agriculture Company Limited announced that they will report fiscal year 2023 results on Mar 29, 2024 Price Target Changed • Oct 27
Price target decreased by 9.3% to CN¥16.50 Down from CN¥18.20, the current price target is provided by 1 analyst. New target price is 31% above last closing price of CN¥12.63. Stock is down 6.2% over the past year. The company is forecast to post earnings per share of CN¥0.64 for next year compared to CN¥0.55 last year. New Risk • Oct 26
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 21% Last year net profit margin: 31% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. 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. Profit margins are more than 30% lower than last year (21% net profit margin). Announcement • Sep 30
Heilongjiang Agriculture Company Limited to Report Q3, 2023 Results on Oct 26, 2023 Heilongjiang Agriculture Company Limited announced that they will report Q3, 2023 results on Oct 26, 2023 Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: CN¥0.24 (vs CN¥0.26 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.24 (down from CN¥0.26 in 2Q 2022). Revenue: CN¥2.06b (up 64% from 2Q 2022). Net income: CN¥425.0m (down 8.7% from 2Q 2022). Profit margin: 21% (down from 37% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Food industry in China. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Jun 28
Heilongjiang Agriculture Company Limited to Report First Half, 2023 Results on Aug 29, 2023 Heilongjiang Agriculture Company Limited announced that they will report first half, 2023 results on Aug 29, 2023 Reported Earnings • Apr 01
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥0.55 (up from CN¥0.48 in FY 2021). Revenue: CN¥4.26b (up 17% from FY 2021). Net income: CN¥975.3m (up 14% from FY 2021). Profit margin: 23% (in line with FY 2021). Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 6.9%. Revenue is forecast to grow 8.0% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Food 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 5% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Dan Guo 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 27
Third quarter 2022 earnings released: EPS: CN¥0.20 (vs CN¥0.046 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.20 (up from CN¥0.046 in 3Q 2021). Revenue: CN¥954.5m (up 5.5% from 3Q 2021). Net income: CN¥356.9m (up 336% from 3Q 2021). Profit margin: 37% (up from 9.0% in 3Q 2021). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Food industry in China. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 24
Second quarter 2022 earnings released: EPS: CN¥0.28 (vs CN¥0.22 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.28 (up from CN¥0.22 in 2Q 2021). Revenue: CN¥1.80b (up 35% from 2Q 2021). Net income: CN¥490.3m (up 25% from 2Q 2021). Profit margin: 27% (down from 30% in 2Q 2021). Over the next year, revenue is expected to shrink by 4.4% compared to a 23% growth forecast for the Food industry in China. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Board Change • Jun 04
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Dan Guo 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 • Apr 27
First quarter 2022 earnings: EPS exceeds analyst expectations First quarter 2022 results: EPS: CN¥0.25 (up from CN¥0.21 in 1Q 2021). Revenue: CN¥720.1m (up 13% from 1Q 2021). Net income: CN¥440.9m (up 17% from 1Q 2021). Profit margin: 61% (up from 59% in 1Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.8%. Over the next year, revenue is forecast to grow 4.7%, compared to a 17% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 13% per year, which means it is well ahead of 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. 12 experienced directors. No highly experienced directors. 4 independent directors (5 non-independent directors). Acting Deputy General Manager and Employee-Representative Director Fengyi Ye was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 31
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: CN¥0.48 (down from CN¥0.56 in FY 2020). Revenue: CN¥3.63b (up 12% from FY 2020). Net income: CN¥857.4m (down 13% from FY 2020). Profit margin: 24% (down from 31% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.8%. Over the next year, revenue is forecast to grow 5.8%, compared to a 17% growth forecast for the 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 14% per year, which means it is well ahead of earnings. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.046 (vs CN¥0.14 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¥904.6m (up 18% from 3Q 2020). Net income: CN¥81.8m (down 66% from 3Q 2020). Profit margin: 9.0% (down from 32% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS CN¥0.22 (vs CN¥0.23 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥1.33b (up 17% from 2Q 2020). Net income: CN¥393.7m (down 5.9% from 2Q 2020). Profit margin: 30% (down from 37% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS CN¥0.21 (vs CN¥0.21 in 1Q 2020) The company reported a mediocre first quarter result with weaker profit margins, although earnings were flat and revenues improved. First quarter 2021 results: Revenue: CN¥637.3m (up 3.0% from 1Q 2020). Net income: CN¥375.4m (flat on 1Q 2020). Profit margin: 59% (down from 61% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS CN¥0.56 (vs CN¥0.48 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥3.24b (up 4.2% from FY 2019). Net income: CN¥990.0m (up 17% from FY 2019). Profit margin: 31% (up from 27% in FY 2019). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Mar 10
New 90-day low: CN¥15.40 The company is down 10.0% from its price of CN¥17.03 on 10 December 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is down 4.0% over the same period. Announcement • Mar 05
Heilongjiang Agriculture Company Limited to Report Fiscal Year 2020 Results on Mar 30, 2021 Heilongjiang Agriculture Company Limited announced that they will report fiscal year 2020 results on Mar 30, 2021 Is New 90 Day High Low • Jan 29
New 90-day low: CN¥16.37 The company is down 6.0% from its price of CN¥17.40 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 Food industry, which is up 22% over the same period. Is New 90 Day High Low • Nov 17
New 90-day low: CN¥16.93 The company is down 24% from its price of CN¥22.30 on 19 August 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is down 11% over the same period. Is New 90 Day High Low • Oct 29
New 90-day low: CN¥18.12 The company is down 5.0% from its price of CN¥19.17 on 31 July 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Food industry, which is also down 5.0% over the same period. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥913.8m, down 6.2% from the prior year. Total revenue was CN¥3.20b over the last 12 months, up 2.3% from the prior year. Announcement • Jul 08
Heilongjiang Agriculture Company Limited to Report First Half, 2020 Results on Aug 20, 2020 Heilongjiang Agriculture Company Limited announced that they will report first half, 2020 results on Aug 20, 2020