Declared Dividend • May 18
Dividend of CN¥0.073 announced Shareholders will receive a dividend of CN¥0.073. Ex-date: 20th May 2026 Payment date: 20th May 2026 Dividend yield will be 1.4%, which is lower than the industry average of 1.6%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 33x earnings) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.3% 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 3,605% to bring the payout ratio under control. EPS is expected to grow by 223% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Price Target Changed • May 04
Price target decreased by 13% to CN¥28.00 Down from CN¥32.15, the current price target is an average from 3 analysts. New target price is 60% above last closing price of CN¥17.48. Stock is down 34% over the past year. The company is forecast to post earnings per share of CN¥0.67 for next year compared to CN¥0.22 last year. Reported Earnings • Apr 25
First quarter 2026 earnings released: EPS: CN¥0.06 (vs CN¥0.28 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.06 (down from CN¥0.28 in 1Q 2025). Revenue: CN¥321.1m (down 40% from 1Q 2025). Net income: CN¥30.2m (down 78% from 1Q 2025). Profit margin: 9.4% (down from 26% in 1Q 2025). Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Biotechs industry in China. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Apr 15
Consensus EPS estimates fall by 37% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CN¥2.18b to CN¥2.11b. EPS estimate also fell from CN¥1.17 per share to CN¥0.73 per share. Net income forecast to grow 227% next year vs 36% growth forecast for Biotechs industry in China. Consensus price target of CN¥31.50 unchanged from last update. Share price was steady at CN¥18.76 over the past week. Announcement • Mar 31
China Resources Boya Bio-pharmaceutical Group Co.,Ltd to Report Q1, 2026 Results on Apr 25, 2026 China Resources Boya Bio-pharmaceutical Group Co.,Ltd announced that they will report Q1, 2026 results on Apr 25, 2026 Reported Earnings • Mar 24
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: CN¥0.22 (down from CN¥0.79 in FY 2024). Revenue: CN¥2.06b (up 19% from FY 2024). Net income: CN¥112.7m (down 72% from FY 2024). Profit margin: 5.5% (down from 23% in FY 2024). Revenue exceeded analyst estimates by 6.4%. Earnings per share (EPS) missed analyst estimates by 78%. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Biotechs industry in China. Over the last 3 years on average, earnings per share has fallen by 23% per year whereas the company’s share price has fallen by 18% per year. New Risk • Mar 24
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 101% The company is paying a dividend despite having no free cash flows. Dividend yield: 1.2% 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: 101% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.5% net profit margin). Announcement • Mar 20
China Resources Boya Bio-pharmaceutical Group Co.,Ltd, Annual General Meeting, Apr 10, 2026 China Resources Boya Bio-pharmaceutical Group Co.,Ltd, Annual General Meeting, Apr 10, 2026, at 14:00 China Standard Time. Location: No. 333, Huiquan Road, High-tech Industrial Development Park, Fuzhou, Jiangxi China Announcement • Jan 30
China Resources Boya Bio-pharmaceutical Group Co.,Ltd Provides Group Earnings Guidance for the Year Ended 31 December 2025 China Resources Boya Bio-pharmaceutical Group Co.,Ltd provided group earnings guidance for the year ended 31 December 2025. For the period, the net profit attributable to the shareholders of CR Boya Bio-pharmaceutical is estimated to range from approximately RMB 105.00 million to RMB 136.50 million (as compared to the same period last year of net profit of approximately RMB 396.99 million), net loss attributable to the shareholders of CR Boya Bio-pharmaceutical excluding non-recurring gain or loss is estimated to range from approximately RMB 7.50 million to RMB 15.00 million (as compared to the same period last year of net profit of approximately RMB 301.57 million). The significant decrease in the net profit attributable to the shareholders of CR Boya Bio-pharmaceutical for the year ended 31 December 2025 was mainly attributable to the downturn in the hyaluronic acid market in 2025, the market for a medical aesthetic product distributed by Anhui Gelinke Pharmaceutical Sales Co. Ltd. (a wholly-owned subsidiary of Green Cross HK Holdings Limited, which has been acquired by CR Boya Bio-pharmaceutical in November 2024), resulting in an aggregate impairment of intangible assets (franchise rights) and impairment of goodwill of approximately RMB 300 million. Announcement • Dec 31
China Resources Boya Bio-pharmaceutical Group Co.,Ltd to Report Fiscal Year 2025 Results on Mar 21, 2026 China Resources Boya Bio-pharmaceutical Group Co.,Ltd announced that they will report fiscal year 2025 results on Mar 21, 2026 Price Target Changed • Dec 09
Price target decreased by 8.0% to CN¥31.15 Down from CN¥33.88, the current price target is an average from 4 analysts. New target price is 33% above last closing price of CN¥23.39. Stock is down 25% over the past year. The company is forecast to post earnings per share of CN¥0.95 for next year compared to CN¥0.79 last year. New Risk • Oct 28
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% 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 (22% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Oct 28
Third quarter 2025 earnings released: EPS: CN¥0.23 (vs CN¥0.19 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.23 (up from CN¥0.19 in 3Q 2024). Revenue: CN¥466.2m (up 33% from 3Q 2024). Net income: CN¥117.6m (up 22% from 3Q 2024). Profit margin: 25% (down from 28% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Biotechs industry in China. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Board Change • Oct 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Non-Independent Director Peng Lin was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 30
China Resources Boya Bio-pharmaceutical Group Co.,Ltd to Report Q3, 2025 Results on Oct 28, 2025 China Resources Boya Bio-pharmaceutical Group Co.,Ltd announced that they will report Q3, 2025 results on Oct 28, 2025 Announcement • Sep 11
Fuzhou High tech Zone Finance Investment Group Co., Ltd completed the acquisition of 80% stake in Jiangxi Boya Xinhe Pharmaceutical Co., Ltd. from China Resources Boya Bio-pharmaceutical Group Co.,Ltd (SZSE:300294). Fuzhou High tech Zone Finance Investment Group Co., Ltd signed the Shanghai Property Rights Transaction Contract to acquire 80% stake in Jiangxi Boya Xinhe Pharmaceutical Co., Ltd. from China Resources Boya Bio-pharmaceutical Group Co.,Ltd (SZSE:300294) on July 21, 2025.
Fuzhou High tech Zone Finance Investment Group Co., Ltd completed the acquisition of 80% stake in Jiangxi Boya Xinhe Pharmaceutical Co., Ltd. from China Resources Boya Bio-pharmaceutical Group Co.,Ltd (SZSE:300294) on September 8, 2025. Following the aforementioned equity transfer, the Company directly holds a 10.6869% equity interest in Boya Xinhe, while its wholly-owned subsidiary, Jiangxi Boya Pharmaceutical Investment Co., Ltd., holds a 9.3131% equity interest in Boya Xinhe. Boya Xinhe will no longer be included in the Company's consolidated financial statements. On September 8, 2025, China Resources Boya Bio-pharmaceutical received a "Company Change Notice" forwarded by Boya Xinhe, pursuant to which Boya Xinhe completed the relevant industrial and commercial change registration. Major Estimate Revision • Sep 09
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥2.02b to CN¥1.96b. EPS estimate also fell from CN¥1.08 per share to CN¥0.96 per share. Net income forecast to grow 77% next year vs 41% growth forecast for Biotechs industry in China. Consensus price target of CN¥32.12 unchanged from last update. Share price was steady at CN¥25.96 over the past week. Announcement • Aug 26
China Resources Boya Bio-Pharmaceutical Group Co.,Ltd Proposes Interim Profit Distribution Plan for 2025 China Resources Boya Bio-pharmaceutical Group Co.,Ltd proposed interim profit distribution plan for 2025. For the period, the company reported Cash dividend/10 shares (tax included): CNY1.50000000. Reported Earnings • Aug 23
Second quarter 2025 earnings released: EPS: CN¥0.17 (vs CN¥0.33 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.17 (down from CN¥0.33 in 2Q 2024). Revenue: CN¥471.9m (up 5.5% from 2Q 2024). Net income: CN¥85.9m (down 48% from 2Q 2024). Profit margin: 18% (down from 37% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Biotechs industry in China. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Jul 02
China Resources Boya Bio-pharmaceutical Group Co.,Ltd to Report First Half, 2025 Results on Aug 23, 2025 China Resources Boya Bio-pharmaceutical Group Co.,Ltd announced that they will report first half, 2025 results on Aug 23, 2025 Reported Earnings • Apr 25
First quarter 2025 earnings released: EPS: CN¥0.28 (vs CN¥0.30 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.28 (down from CN¥0.30 in 1Q 2024). Revenue: CN¥535.9m (up 20% from 1Q 2024). Net income: CN¥139.5m (down 8.2% from 1Q 2024). Profit margin: 26% (down from 34% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 26% growth forecast for the Biotechs industry in China. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Price Target Changed • Apr 17
Price target decreased by 7.2% to CN¥34.33 Down from CN¥37.00, the current price target is an average from 3 analysts. New target price is 22% above last closing price of CN¥28.21. Stock is down 9.0% over the past year. The company is forecast to post earnings per share of CN¥1.05 for next year compared to CN¥0.79 last year. Announcement • Apr 12
China Resources Boya Bio-Pharmaceutical Group Co.,Ltd Approves Final Dividend for 2024 China Resources Boya Bio-pharmaceutical Group Co.,Ltd at its Annual General Meeting held on 10 April 2025 approved final cash dividend of CNY 1.60000000 per 10 shares (tax included) for 2024. Announcement • Mar 31
China Resources Boya Bio-pharmaceutical Group Co.,Ltd to Report Q1, 2025 Results on Apr 25, 2025 China Resources Boya Bio-pharmaceutical Group Co.,Ltd announced that they will report Q1, 2025 results on Apr 25, 2025 Major Estimate Revision • Mar 25
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥2.01b to CN¥1.98b. EPS estimate also fell from CN¥1.22 per share to CN¥1.08 per share. Net income forecast to grow 38% next year vs 38% growth forecast for Biotechs industry in China. Consensus price target of CN¥36.70 unchanged from last update. Share price fell 5.8% to CN¥27.17 over the past week. Announcement • Mar 20
China Resources Boya Bio-Pharmaceutical Group Co.,Ltd Proposes Final Cash Dividend for Year 2024 China Resources Boya Bio-pharmaceutical Group Co.,Ltd. proposed final cash dividend per 10 shares (tax included) of CNY 1.60000000 for the year 2024. Reported Earnings • Mar 19
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: CN¥0.79 (up from CN¥0.47 in FY 2023). Revenue: CN¥1.73b (down 35% from FY 2023). Net income: CN¥397.0m (up 67% from FY 2023). Profit margin: 23% (up from 9.0% in FY 2023). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 22%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 25% growth forecast for the Biotechs industry in China. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • Mar 19
China Resources Boya Bio-pharmaceutical Group Co.,Ltd, Annual General Meeting, Apr 10, 2025 China Resources Boya Bio-pharmaceutical Group Co.,Ltd, Annual General Meeting, Apr 10, 2025, at 09:30 China Standard Time. Location: No. 333, Huiquan Road, High-tech Industrial Development Park, Fuzhou, Jiangxi China Announcement • Jan 22
China Resources Boya Bio-pharmaceutical Group Company Limited Provides Earnings Guidance for the Year Ended 31 December 2024 China Resources Boya Bio-pharmaceutical Group Company Limited provided earnings guidance for the year ended 31 December 2024. The company estimates net profit attributable to the shareholders of CR Boya Bio-pharmaceutical for the year ended 31 December 2024 to range from approximately RMB 380.00 million to RMB 480.00 million (as compared to the same period last year of net profit of approximately RMB 237.46 million), net profit attributable to the shareholders of CR Boya Bio-pharmaceutical excluding non- recurring gain or loss is estimated to range from approximately RMB 283.74 million to RMB 383.74 million (as compared to the same period last year of net profit of approximately RMB 143.07 million), and basic earnings per share is estimated to range from approximately RMB 0.75 per share to approximately RMB 0.95 per share (as compared to the same period last year of profit per share of approximately RMB 0.47 per share) (the ``CR Boya Bio-pharmaceutical Results Estimate''). The main reasons for the change in CR Boya Bio-pharmaceutical's performance in 2024 as compared with the same period last year are that (i) the increase in revenue from blood
products of CR Boya Bio-pharmaceutical in 2024 and the impact of goodwill and asset impairment provision resulting in a lower year-on-year comparative figure in 2023; (ii) the plasma collection volume of 522.04 tonnes achieved by CR Boya Bio-pharmaceutical in its operating plasma stations (16 stations, excluding four operating stations of Green Cross (China) Biopharmaceutical Co. Ltd. (())), representing a year-on-year increase of 11.71%; and (iii) during the reporting period from 1 January 2024 to 31 December 2024, the impact of non-recurring gains and losses on net profit of CR Boya Bio-pharmaceutical is estimated to be approximately RMB 96.26 million. Announcement • Dec 31
China Resources Boya Bio-pharmaceutical Group Co.,Ltd to Report Fiscal Year 2024 Results on Mar 19, 2025 China Resources Boya Bio-pharmaceutical Group Co.,Ltd announced that they will report fiscal year 2024 results on Mar 19, 2025 Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: CN¥0.19 (vs CN¥0.27 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.19 (down from CN¥0.27 in 3Q 2023). Revenue: CN¥349.4m (down 46% from 3Q 2023). Net income: CN¥96.7m (down 30% from 3Q 2023). Profit margin: 28% (up from 21% in 3Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Biotechs industry in China. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Oct 19
China Resources Boya Bio-Pharmaceutical Group Co.,Ltd Announces 2024 Interim Profit Distribution for A Shares, Payable on 25 October 2024 China Resources Boya Bio-pharmaceutical Group Co.,Ltd announced 2024 interim profit distribution plan to be implemented (A shares): Cash dividend/10 shares (tax included): CNY 1.60000000, Record date: 24 October 2024, Ex-date: 25 October 2024 and Payment date: 25 October 2024. Buy Or Sell Opportunity • Oct 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.3% to CN¥33.14. The fair value is estimated to be CN¥41.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.6% over the last 3 years. Earnings per share has declined by 11%. Revenue is forecast to grow by 7.8% in 2 years. Earnings are forecast to grow by 187% in the next 2 years. Announcement • Sep 30
China Resources Boya Bio-pharmaceutical Group Co.,Ltd to Report Q3, 2024 Results on Oct 25, 2024 China Resources Boya Bio-pharmaceutical Group Co.,Ltd announced that they will report Q3, 2024 results on Oct 25, 2024 Announcement • Sep 13
China Resources Boya Bio-pharmaceutical Group Co.,Ltd Approves Interim Cash Dividend for the 2024 China Resources Boya Bio-pharmaceutical Group Co.,Ltd at its EGM held on September 11, 2024 approved interim cash dividend of CNY 1.60000000 per 10 shares (tax included) for the 2024. Buy Or Sell Opportunity • Sep 12
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.3% to CN¥31.27. The fair value is estimated to be CN¥40.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.6% over the last 3 years. Earnings per share has declined by 11%. Revenue is forecast to grow by 7.8% in 2 years. Earnings are forecast to grow by 187% in the next 2 years. Reported Earnings • Aug 24
Second quarter 2024 earnings released: EPS: CN¥0.33 (vs CN¥0.31 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.33 (up from CN¥0.31 in 2Q 2023). Revenue: CN¥447.3m (down 39% from 2Q 2023). Net income: CN¥163.9m (up 5.4% from 2Q 2023). Profit margin: 37% (up from 21% in 2Q 2023). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Biotechs industry in China. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 6% per year. Announcement • Jul 18
China Resources Boya Bio-pharmaceutical Group Co.,Ltd (SZSE:300294) agreed to acquire 77.35% stake in Green Cross Hk Holdings Limited from Green Cross Holdings Corporation (KOSE:A005250) for approximately KRW 270 billion. China Resources Boya Bio-pharmaceutical Group Co.,Ltd (SZSE:300294) agreed to acquire 77.35% stake in Green Cross Hk Holdings Limited from Green Cross Holdings Corporation (KOSE:A005250) for approximately KRW 270 billion on July 17, 2024. A cash consideration of KRW 268.06 billion will be paid by China Resources Boya Bio-pharmaceutical Group for 97,558,858 shares. For the period ending December 31, 2023, Green Cross Hk Holdings Limited reported total revenue of KRW 45.88 billion and net loss of KRW 3.1 billion. As of December 31, 2023, Green Cross Hk Holdings Limited reported total debt of KRW 43.32 billion, total assets of KRW 144.86 billion and total common equity of KRW 101.55 billion. Announcement • Jun 29
China Resources Boya Bio-pharmaceutical Group Co.,Ltd to Report First Half, 2024 Results on Aug 24, 2024 China Resources Boya Bio-pharmaceutical Group Co.,Ltd announced that they will report first half, 2024 results on Aug 24, 2024 Price Target Changed • May 28
Price target increased by 8.1% to CN¥35.09 Up from CN¥32.45, the current price target is an average from 4 analysts. New target price is 7.2% above last closing price of CN¥32.72. Stock is down 11% over the past year. The company is forecast to post earnings per share of CN¥1.11 for next year compared to CN¥0.47 last year. Declared Dividend • Apr 24
Dividend increased to CN¥0.30 Dividend of CN¥0.30 is 50% higher than last year. Ex-date: 26th April 2024 Payment date: 26th April 2024 Dividend yield will be 0.9%, which is lower than the industry average of 1.6%. Sustainability & Growth Dividend is covered by both earnings (69% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 120% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 24
First quarter 2024 earnings released: EPS: CN¥0.30 (vs CN¥0.34 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.30 (down from CN¥0.34 in 1Q 2023). Revenue: CN¥448.5m (down 44% from 1Q 2023). Net income: CN¥152.0m (down 11% from 1Q 2023). Profit margin: 34% (up from 21% in 1Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 22% growth forecast for the Biotechs industry in China. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 3% per year. Announcement • Mar 30
China Resources Boya Bio-pharmaceutical Group Co.,Ltd to Report Q1, 2024 Results on Apr 24, 2024 China Resources Boya Bio-pharmaceutical Group Co.,Ltd announced that they will report Q1, 2024 results on Apr 24, 2024 Major Estimate Revision • Mar 29
Consensus revenue estimates fall by 17% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥2.31b to CN¥1.90b. EPS estimate fell from CN¥1.19 to CN¥1.07 per share. Net income forecast to grow 127% next year vs 36% growth forecast for Biotechs industry in China. Consensus price target down from CN¥35.07 to CN¥32.01. Share price rose 6.4% to CN¥28.72 over the past week. Price Target Changed • Mar 27
Price target decreased by 8.8% to CN¥32.01 Down from CN¥35.07, the current price target is an average from 4 analysts. New target price is 14% above last closing price of CN¥28.03. Stock is down 16% over the past year. The company is forecast to post earnings per share of CN¥1.07 for next year compared to CN¥0.47 last year. Announcement • Mar 23
China Resources Boya Bio-pharmaceutical Group Co.,Ltd, Annual General Meeting, Apr 12, 2024 China Resources Boya Bio-pharmaceutical Group Co.,Ltd, Annual General Meeting, Apr 12, 2024, at 09:30 China Standard Time. Reported Earnings • Mar 14
Full year 2023 earnings released: EPS: CN¥0.47 (vs CN¥0.86 in FY 2022) Full year 2023 results: EPS: CN¥0.47 (down from CN¥0.86 in FY 2022). Revenue: CN¥2.65b (down 3.9% from FY 2022). Net income: CN¥237.5m (down 45% from FY 2022). Profit margin: 9.0% (down from 16% in FY 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to stay flat during the next 2 years compared to a 22% growth forecast for the Biotechs industry in China. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Feb 05
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 23% to CN¥23.70. The fair value is estimated to be CN¥30.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 1.5% in 2 years. Earnings are forecast to grow by 40% in the next 2 years. Announcement • Dec 30
China Resources Boya Bio-pharmaceutical Group Co.,Ltd to Report Fiscal Year 2023 Results on Mar 23, 2024 China Resources Boya Bio-pharmaceutical Group Co.,Ltd announced that they will report fiscal year 2023 results on Mar 23, 2024 Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: CN¥0.27 (vs CN¥0.28 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.27 (down from CN¥0.28 in 3Q 2022). Revenue: CN¥649.5m (down 5.0% from 3Q 2022). Net income: CN¥138.1m (flat on 3Q 2022). Profit margin: 21% (in line with 3Q 2022). Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Biotechs industry in China. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Sep 30
China Resources Boya Bio-pharmaceutical Group Co.,Ltd to Report Q3, 2023 Results on Oct 25, 2023 China Resources Boya Bio-pharmaceutical Group Co.,Ltd announced that they will report Q3, 2023 results on Oct 25, 2023 Price Target Changed • Aug 26
Price target decreased by 10% to CN¥36.93 Down from CN¥41.09, the current price target is an average from 2 analysts. New target price is 26% above last closing price of CN¥29.26. Stock is down 14% over the past year. The company is forecast to post earnings per share of CN¥1.07 for next year compared to CN¥0.86 last year. Reported Earnings • Aug 22
Second quarter 2023 earnings released: EPS: CN¥0.31 (vs CN¥0.34 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.31 (down from CN¥0.34 in 2Q 2022). Revenue: CN¥734.9m (down 1.2% from 2Q 2022). Net income: CN¥155.6m (down 11% from 2Q 2022). Profit margin: 21% (down from 24% in 2Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Biotechs industry in China. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Jul 01
China Resources Boya Bio-pharmaceutical Group Co., Ltd. to Report Q2, 2023 Results on Aug 22, 2023 China Resources Boya Bio-pharmaceutical Group Co., Ltd. announced that they will report Q2, 2023 results on Aug 22, 2023 Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: CN¥0.86 (vs CN¥0.79 in FY 2021) Full year 2022 results: EPS: CN¥0.86 (up from CN¥0.79 in FY 2021). Revenue: CN¥2.76b (up 4.1% from FY 2021). Net income: CN¥432.2m (up 25% from FY 2021). Profit margin: 16% (up from 13% in FY 2021). Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Biotechs industry in China. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has remained flat. Price Target Changed • Dec 28
Price target increased to CN¥40.30 Up from CN¥36.56, the current price target is provided by 1 analyst. New target price is 17% above last closing price of CN¥34.48. Stock is down 9.0% over the past year. The company is forecast to post earnings per share of CN¥1.05 for next year compared to CN¥0.79 last year. Price Target Changed • Nov 16
Price target decreased to CN¥31.94 Down from CN¥36.56, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of CN¥31.70. Stock is down 25% over the past year. The company is forecast to post earnings per share of CN¥0.89 for next year compared to CN¥0.79 last year. Board Change • Nov 16
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 6 experienced directors. No highly experienced directors. GM & Non-Independent Director Xinxi Liao is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 25
Third quarter 2022 earnings released: EPS: CN¥0.28 (vs CN¥0.30 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.28. Revenue: CN¥684.0m (down 4.6% from 3Q 2021). Net income: CN¥139.4m (up 11% from 3Q 2021). Profit margin: 20% (up from 18% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Biotechs industry in China. Reported Earnings • Aug 21
Second quarter 2022 earnings released: EPS: CN¥0.34 (vs CN¥0.22 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.34 (up from CN¥0.22 in 2Q 2021). Revenue: CN¥744.1m (up 11% from 2Q 2021). Net income: CN¥175.3m (up 81% from 2Q 2021). Profit margin: 24% (up from 14% in 2Q 2021). Over the next year, revenue is forecast to grow 19%, compared to a 34% growth forecast for the Biotechs industry in China. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • May 10
China Resources Boya Bio-pharmaceutical Group Co., Ltd. announces the implementation of cash dividend for 2021, Payable on 13 May 2022 China Resources Boya Bio-pharmaceutical Group Co., Ltd. announced the implementation of cash dividend of CNY 1.50000000 per A 10 shares (tax included) for 2021. Record date is 12 May 2022. Ex-date is 13 May 2022. Payment date is 13 May 2022. Price Target Changed • Apr 27
Price target decreased to CN¥36.56 Down from CN¥43.15, the current price target is provided by 1 analyst. New target price is 34% above last closing price of CN¥27.31. Stock is down 21% over the past year. The company is forecast to post earnings per share of CN¥0.84 for next year compared to CN¥0.79 last year. Board Change • Apr 27
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 6 experienced directors. No highly experienced directors. GM & Non-Independent Director Xinxi Liao is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Apr 14
China Resources Boya Bio-Pharmaceutical Group Co., Ltd. Approves Cash Dividend For 2021 China Resources Boya Bio-pharmaceutical Group Co., Ltd. announced that at the AGM was held on 12 April 2022, the company approved the cash dividend/10 shares (tax included): CNY 1.50000000 for 2021. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥34.50, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 33x in the Biotechs industry in China. Total returns to shareholders of 18% over the past three years. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥34.83, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 33x in the Biotechs industry in China. Total returns to shareholders of 34% over the past three years. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.30 (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¥716.7m (up 8.4% from 3Q 2020). Net income: CN¥125.7m (up 100% from 3Q 2020). Profit margin: 18% (up from 9.5% in 3Q 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS CN¥0.22 (vs CN¥0.15 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: CN¥670.7m (down 1.0% from 2Q 2020). Net income: CN¥97.0m (up 49% from 2Q 2020). Profit margin: 14% (up from 9.6% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥46.60, the stock trades at a forward P/E ratio of 49x. Average forward P/E is 41x in the Biotechs industry in China. Total returns to shareholders of 56% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥30.43 per share. Reported Earnings • Jul 18
First quarter 2021 earnings released: EPS CN¥0.24 (vs CN¥0.23 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: CN¥624.1m (up 2.4% from 1Q 2020). Net income: CN¥100.7m (up 5.0% from 1Q 2020). Profit margin: 16% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Jul 16
China Resources Pharmaceutical Holdings Company Limited completed the acquisition of 16% stake in Boya Bio-pharmaceutical Group Co.,Ltd (SZSE:300294) from ShenZhen GTJA Investment Group Co., Ltd. China Resources Pharmaceutical Holdings Company Limited entered into a letter of intent to acquire 16% stake in Boya Bio-pharmaceutical Group Co.,Ltd (SZSE:300294) from ShenZhen GTJA Investment Group Co., Ltd on September 28, 2020. China Resources Pharmaceutical Holdings Company Limited entered into a Share Transfer Agreement to acquire 16% stake in Boya Bio-pharmaceutical Group Co.,Ltd from ShenZhen GTJA Investment Group Co., Ltd for CNY 2.6 billion on September 30, 2020. As of May 7, 2021, entered into a supplemental share transfer agreement to change consideration price from CNY 38 to CNY 33.33 per share. The letter of intent to acquire will lapse after 8 months from the signing of letter of intent to acquire if the signing of finalized and binding agreements in relation to the proposed acquisition does not take place. In a related transaction China Resources Pharmaceutical entered into Voting Rights Entrustment Agreement to subscribe 20% stake in Boya Bio-pharmaceutical. The transaction is subject finalization of terms, obtaining various PRC governmental approvals including, approval from SASAC and Anti-Monopoly Bureau of the State Administration for Market Regulation, application for registration of share transfer with the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited, approval of shareholders of Boya Bio-pharmaceutical and compliance with applicable laws, regulations and stock exchange rules. As on July 6, 2021, State-owned Assets Supervision and Administration Commission of the State Council (the “SASAC”) has granted an approval in-principle for the transfer of 69,331,978 non-restricted tradable shares of the Target Company and entrustment of voting rights to CR Pharmaceutical Holdings contemplated and the subscription of shares of the Boya Bio-pharmaceutical Group Co.,Ltd. Ernst & Young acted as accountant for China Resources Pharmaceutical Holdings.
China Resources Pharmaceutical Holdings Company Limited completed the acquisition of 16% stake in Boya Bio-pharmaceutical Group Co.,Ltd (SZSE:300294) from ShenZhen GTJA Investment Group Co., Ltd on July 15, 2021. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥31.48, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 44x in the Biotechs industry in China. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥29.63 per share. Announcement • May 21
Boya Bio-Pharmaceutical Group Co.,Ltd Announces Cash Dividend for 2020, Payable on 26 May 2021 Boya Bio-pharmaceutical Group Co.,Ltd announced cash dividend of CNY 0.65000000 per ten A shares(tax included) for 2020, payable on 26 May 2021. The record date is 25 May 2021 and the ex-date is 26 May 2021. Announcement • May 19
Boya Bio-Pharmaceutical Group Co.,Ltd Approves Cash Dividend for 2020 Boya Bio-pharmaceutical Group Co.,Ltd approved cash dividend (tax included) of CNY 0.65000000 per 10 shares for 2020 at the AGM held on 17 May 2021. Reported Earnings • Apr 28
Full year 2020 earnings released: EPS CN¥0.61 (vs CN¥1.00 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥2.68b (down 7.7% from FY 2019). Net income: CN¥260.1m (down 39% from FY 2019). Profit margin: 9.7% (down from 15% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Apr 28
Boya Bio-Pharmaceutical Group Co.,Ltd Announces Final Dividend Profit Distribution Proposal for 2020 Boya Bio-pharmaceutical Group Co.,Ltd announced final dividend profit distribution proposal for 2020 as follows: Cash dividend/10 shares (tax included): CNY 0.65000000. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥28.20, the stock trades at a trailing P/E ratio of 35.7x, up from the previous P/E ratio of 29.6x. Average P/E is 53x in the Biotechs industry in China. Total return to shareholders over the past three years was a loss of 19%. Is New 90 Day High Low • Mar 09
New 90-day low: CN¥23.37 The company is down 38% from its price of CN¥37.95 on 09 December 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥70.45 per share. Announcement • Feb 05
Boya Biology Announces Election of Directors Boya Biology announced that the Company held its 1st Extraordinary General Meeting of 2021 on 03 February 2021, during which the following proposals were approved: Election of non-independent directors - Liang Xiaoming, Zhu Shiyao, Zhou Yijun; Election of independent directors - Zhang Weidong, Huang Huasheng, Zhao Li. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥27.72, the stock is trading at a trailing P/E ratio of 35.1x, down from the previous P/E ratio of 41.3x. This compares to an average P/E of 62x in the Biotechs industry in China. Total return to shareholders over the past three years is a loss of 15%. Is New 90 Day High Low • Jan 19
New 90-day low: CN¥33.50 The company is down 16% from its price of CN¥39.84 on 21 October 2020. The Chinese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥65.64 per share. Is New 90 Day High Low • Dec 23
New 90-day low: CN¥34.09 The company is down 15% from its price of CN¥40.29 on 24 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥65.32 per share. Is New 90 Day High Low • Nov 11
New 90-day low: CN¥34.45 The company is down 26% from its price of CN¥46.81 on 13 August 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is down 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥56.99 per share. Analyst Estimate Surprise Post Earnings • Nov 04
Revenue and earnings miss expectations Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 18%. Over the next year, revenue is forecast to grow 24%, compared to a 41% growth forecast for the Biotechs industry in China. Reported Earnings • Nov 04
Third quarter 2020 earnings released: EPS CN¥0.15 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: CN¥661.0m (down 9.0% from 3Q 2019). Net income: CN¥62.8m (down 40% from 3Q 2019). Profit margin: 9.5% (down from 14% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 4% per year.