Announcement • Jun 30
Xiamen Xiangyu Co., Ltd. to Report First Half, 2026 Results on Aug 25, 2026 Xiamen Xiangyu Co., Ltd. announced that they will report first half, 2026 results on Aug 25, 2026 Declared Dividend • Jun 15
Dividend of CN¥0.12 announced Shareholders will receive a dividend of CN¥0.12. Ex-date: 17th June 2026 Payment date: 17th June 2026 Dividend yield will be 3.5%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (77% earnings payout ratio) and cash flows (6% cash payout ratio). The dividend has increased by an average of 14% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 53% over the next year, which should provide support to the dividend and adequate earnings cover. New Risk • May 06
New major risk - Revenue and earnings growth Earnings have declined by 7.7% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 7.7% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Apr 24
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: CN¥0.30 (down from CN¥0.48 in FY 2024). Revenue: CN¥410.3b (up 12% from FY 2024). Net income: CN¥1.29b (down 8.9% from FY 2024). Profit margin: 0.3% (down from 0.4% in FY 2024). Revenue exceeded analyst estimates by 7.9%. Earnings per share (EPS) missed analyst estimates by 57%. Revenue is forecast to grow 7.6% p.a. on average during the next 2 years, compared to a 8.1% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Announcement • Apr 24
Xiamen Xiangyu Co., Ltd., Annual General Meeting, May 22, 2026 Xiamen Xiangyu Co., Ltd., Annual General Meeting, May 22, 2026, at 15:00 China Standard Time. Location: 2F, No. 85, Xiangyu Road, Xiamen Area, Free Trade Zone, Huli District, Xiamen, Fujian China Announcement • Mar 30
Xiamen Xiangyu Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Xiamen Xiangyu Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Announcement • Dec 25
Xiamen Xiangyu Co., Ltd. to Report Fiscal Year 2025 Results on Apr 22, 2026 Xiamen Xiangyu Co., Ltd. announced that they will report fiscal year 2025 results on Apr 22, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.18 (vs CN¥0.028 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.18 (up from CN¥0.028 in 3Q 2024). Revenue: CN¥112.9b (up 20% from 3Q 2024). Net income: CN¥601.3m (up 443% from 3Q 2024). Profit margin: 0.5% (up from 0.1% in 3Q 2024). Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
Xiamen Xiangyu Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Xiamen Xiangyu Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 New Risk • Sep 04
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 60% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Shareholders have been diluted in the past year (21% increase in shares outstanding). Reported Earnings • Sep 01
Second quarter 2025 earnings released: EPS: CN¥0.14 (vs CN¥0.13 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.14 (up from CN¥0.13 in 2Q 2024). Revenue: CN¥106.8b (up 8.0% from 2Q 2024). Net income: CN¥523.1m (up 41% from 2Q 2024). Profit margin: 0.5% (up from 0.4% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Logistics 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 8% per year, which means it has not declined as severely as earnings. Announcement • Jun 30
Xiamen Xiangyu Co., Ltd. to Report First Half, 2025 Results on Aug 27, 2025 Xiamen Xiangyu Co., Ltd. announced that they will report first half, 2025 results on Aug 27, 2025 Declared Dividend • Jun 13
Dividend reduced to CN¥0.25 Dividend of CN¥0.25 is 17% lower than last year. Ex-date: 17th June 2025 Payment date: 17th June 2025 Dividend yield will be 3.5%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (50% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has increased by an average of 18% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 55% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Apr 25
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 61% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Shareholders have been diluted in the past year (23% increase in shares outstanding). Reported Earnings • Apr 23
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.48 (down from CN¥0.63 in FY 2023). Revenue: CN¥366.7b (down 20% from FY 2023). Net income: CN¥1.42b (down 9.9% from FY 2023). Profit margin: 0.4% (up from 0.3% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 8.0%. Earnings per share (EPS) also missed analyst estimates by 4.0%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 8.9% growth forecast for the Logistics 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 9% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Apr 22
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 5.9% to CN¥6.42. The fair value is estimated to be CN¥5.27, however this is not to be taken as a sell 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 23%. Revenue is forecast to grow by 29% in 2 years. Earnings are forecast to grow by 97% in the next 2 years. Announcement • Apr 22
Xiamen Xiangyu Co., Ltd., Annual General Meeting, May 12, 2025 Xiamen Xiangyu Co., Ltd., Annual General Meeting, May 12, 2025, at 15:00 China Standard Time. Location: 11F, Tower A, No. 85, Xiangyu Road, Huli Free Trade Pilot Zone Xiamen Area, Xiamen, Fujian China Announcement • Apr 17
Xiamen Xiangyu Co., Ltd. (SHSE:600057) announces an Equity Buyback for CNY 150 million worth of its shares. Xiamen Xiangyu Co., Ltd. (SHSE:600057) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 150 million worth of its A shares. The shares will be repurchased at a price of not more than CNY 8.85 per share. The repurchased shares will be used for Equity incentive or ESOP. The plan will be valid for 6 months. New Risk • Apr 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 23% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Shareholders have been diluted in the past year (23% increase in shares outstanding). Announcement • Mar 28
Xiamen Xiangyu Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Xiamen Xiangyu Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Announcement • Dec 27
Xiamen Xiangyu Co., Ltd. to Report Fiscal Year 2024 Results on Apr 22, 2025 Xiamen Xiangyu Co., Ltd. announced that they will report fiscal year 2024 results on Apr 22, 2025 Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥6.91, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 13x in the Logistics industry in China. Total returns to shareholders of 7.2% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥6.33 per share. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.028 (vs CN¥0.11 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.028 (down from CN¥0.11 in 3Q 2023). Revenue: CN¥94.2b (down 30% from 3Q 2023). Net income: CN¥110.7m (down 62% from 3Q 2023). Profit margin: 0.1% (down from 0.2% in 3Q 2023). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
Xiamen Xiangyu Co., Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Xiamen Xiangyu Co., Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥5.98, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 12x in the Logistics industry in China. Total loss to shareholders of 7.4% over the past three years. Reported Earnings • Aug 30
Second quarter 2024 earnings released: EPS: CN¥0.13 (vs CN¥0.14 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.13. Revenue: CN¥98.9b (down 5.3% from 2Q 2023). Net income: CN¥371.4m (up 7.6% from 2Q 2023). Profit margin: 0.4% (up from 0.3% in 2Q 2023). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Logistics industry in China. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥5.23, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 10x in the Logistics industry in China. Total loss to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥6.73 per share. Buy Or Sell Opportunity • Jul 26
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 24% to CN¥5.23. The fair value is estimated to be CN¥6.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.5% over the last 3 years. Earnings per share has declined by 3.5%. Revenue is forecast to grow by 38% in 2 years. Earnings are forecast to grow by 95% in the next 2 years. Announcement • Jun 28
Xiamen Xiangyu Co., Ltd. to Report First Half, 2024 Results on Aug 30, 2024 Xiamen Xiangyu Co., Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Announcement • Jun 21
Xiamen Xiangyu Co., Ltd. (SHSE:600057) agreed to acquire remaining 43.53% stake in Heilongjiang Xiangyu Agricultural Products Co., Ltd. from BOC Financial Asset Investment Co., Ltd., BOCOM Financial Asset Investment Co., Ltd, CCB Financial Asset Investment Co., Ltd. and ABC Financial Assets Investment Co., Ltd for CNY 4.2 billion. Xiamen Xiangyu Co., Ltd. (SHSE:600057) agreed to acquire remaining 43.53% stake in Heilongjiang Xiangyu Agricultural Products Co., Ltd. from BOC Financial Asset Investment Co., Ltd., BOCOM Financial Asset Investment Co., Ltd, CCB Financial Asset Investment Co., Ltd. and ABC Financial Assets Investment Co., Ltd for CNY 4.2 billion on June 19, 2024. A cash consideration of CNY 4.2 billion will be paid by Xiamen Xiangyu Co., Ltd. For the period ended March 31, 2024 Heilongjiang Xiangyu Agricultural Products Co., Ltd. reported total assets of CNY 17494 million and net assets of CNY 6923 million. The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board. Announcement • Apr 24
Xiamen Xiangyu Co., Ltd., Annual General Meeting, May 14, 2024 Xiamen Xiangyu Co., Ltd., Annual General Meeting, May 14, 2024, at 15:00 China Standard Time. Location: 11F, Building A, No. 85, Xiangyu Road, Free Trade Zone Xiamen Area, Huli District, Xiamen, Fujian China Reported Earnings • Apr 24
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.63 (down from CN¥1.10 in FY 2022). Revenue: CN¥459.0b (down 15% from FY 2022). Net income: CN¥1.57b (down 40% from FY 2022). Profit margin: 0.3% (down from 0.5% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 25%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Logistics 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 only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Mar 29
Xiamen Xiangyu Co., Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Xiamen Xiangyu Co., Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Announcement • Dec 30
Xiamen Xiangyu Co., Ltd. to Report Fiscal Year 2023 Results on Apr 24, 2024 Xiamen Xiangyu Co., Ltd. announced that they will report fiscal year 2023 results on Apr 24, 2024 Price Target Changed • Nov 04
Price target decreased by 8.8% to CN¥10.48 Down from CN¥11.49, the current price target is an average from 2 analysts. New target price is 62% above last closing price of CN¥6.47. Stock is down 41% over the past year. The company is forecast to post earnings per share of CN¥1.04 for next year compared to CN¥1.10 last year. Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.11 (vs CN¥0.36 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.11 (down from CN¥0.36 in 3Q 2022). Revenue: CN¥135.1b (down 1.8% from 3Q 2022). Net income: CN¥289.8m (down 64% from 3Q 2022). Profit margin: 0.2% (down from 0.6% in 3Q 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. New Risk • Sep 07
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 27% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks High level of debt (41% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: CN¥0.14 (vs CN¥0.40 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.14 (down from CN¥0.40 in 2Q 2022). Revenue: CN¥104.4b (down 26% from 2Q 2022). Net income: CN¥345.1m (down 62% from 2Q 2022). Profit margin: 0.3% (down from 0.6% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. New Risk • Jun 13
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 9.8% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (9.8% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (5.1% increase in shares outstanding). Price Target Changed • May 05
Price target increased by 15% to CN¥12.45 Up from CN¥10.84, the current price target is an average from 2 analysts. New target price is 24% above last closing price of CN¥10.03. Stock is up 19% over the past year. The company is forecast to post earnings per share of CN¥1.39 for next year compared to CN¥1.10 last year. Buying Opportunity • May 04
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.9%. The fair value is estimated to be CN¥12.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to grow by 15% in a year. Earnings is forecast to grow by 29% in the next year. Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: CN¥0.23 (vs CN¥0.20 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.23 (up from CN¥0.20 in 1Q 2022). Revenue: CN¥129.2b (up 13% from 1Q 2022). Net income: CN¥546.4m (up 17% from 1Q 2022). Profit margin: 0.4% (in line with 1Q 2022). Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Yi Xin Liao was the last independent director to join the board, commencing their role in 2019. 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¥0.36 (vs CN¥0.22 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.36 (up from CN¥0.22 in 3Q 2021). Revenue: CN¥137.6b (up 8.5% from 3Q 2021). Net income: CN¥807.0m (up 69% from 3Q 2021). Profit margin: 0.6% (up from 0.4% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has increased by 37% per year whereas the company’s share price has increased by 33% per year. Reported Earnings • Aug 19
Second quarter 2022 earnings released: EPS: CN¥0.40 (vs CN¥0.40 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.40 (up from CN¥0.40 in 2Q 2021). Revenue: CN¥140.3b (up 9.4% from 2Q 2021). Net income: CN¥900.1m (up 29% from 2Q 2021). Profit margin: 0.6% (up from 0.5% in 2Q 2021). Over the next year, revenue is forecast to grow 18%, compared to a 23% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Announcement • May 18
Xiamen Xiangyu Co., Ltd. announced that it expects to receive CNY 3.499999994 billion in funding from China Merchants Group Limited, Shandong Port Group Co., Ltd, Xiamen Xiangyu Group Co., Ltd. Xiamen Xiangyu Co., Ltd. announced that it has signed a share subscription agreement for a private placement of 536,809,815 A shares at an issue price of CNY 6.52 per share for gross proceeds of CNY 3,499,999,993.8 on May 16, 2022. The transaction will include participation from China Merchants Group Limited for 153,374,233 shares, from Shandong Port Group Co., Ltd for 153,374,233 shares and from returning investor Xiamen Xiangyu Group Co., Ltd. for 230,061,349 shares. All securities issued in the transaction have a hold period of 18 months. The transaction has been approved in the 36th meeting of the company’s 8th directorate, and is subject to the approvals of the company’s shareholders, the State-owned Assets Supervision and Administration Department or its authorized body and China Securities Regulatory Commission. Reported Earnings • Apr 28
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: CN¥0.20 (up from CN¥0.14 in 1Q 2021). Revenue: CN¥113.9b (up 27% from 1Q 2021). Net income: CN¥466.3m (up 32% from 1Q 2021). Profit margin: 0.4% (in line with 1Q 2021). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 1.3%. Over the next year, revenue is forecast to grow 17%, compared to a 27% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. 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. 3 independent directors (6 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Apr 21
Price target increased to CN¥11.35 Up from CN¥10.61, the current price target is an average from 4 analysts. New target price is 24% above last closing price of CN¥9.13. Stock is up 37% over the past year. The company is forecast to post earnings per share of CN¥1.19 for next year compared to CN¥0.93 last year. Reported Earnings • Apr 19
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥0.93 (up from CN¥0.54 in FY 2020). Revenue: CN¥462.5b (up 28% from FY 2020). Net income: CN¥2.16b (up 66% from FY 2020). Profit margin: 0.5% (up from 0.4% in FY 2020). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 1.3%. Over the next year, revenue is forecast to grow 15%, compared to a 28% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 06
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥0.92 (up from CN¥0.54 in FY 2020). Revenue: CN¥462.8b (up 28% from FY 2020). Net income: CN¥2.15b (up 66% from FY 2020). Profit margin: 0.5% (up from 0.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 15%, compared to a 33% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 27
Third quarter 2021 earnings released: EPS CN¥0.22 (vs CN¥0.11 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥126.8b (up 20% from 3Q 2020). Net income: CN¥605.1m (up 127% from 3Q 2020). Profit margin: 0.5% (up from 0.3% 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 24% per year whereas the company’s share price has increased by 19% per year. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥9.22, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 21x in the Logistics industry in China. Total returns to shareholders of 114% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥4.01 per share. Major Estimate Revision • Aug 11
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate increased from CN¥0.76 to CN¥0.85. Revenue forecast steady at CN¥447.7b. Net income forecast to grow 15% next year vs 18% growth forecast for Logistics industry in China. Consensus price target of CN¥9.00 unchanged from last update. Share price rose 5.7% to CN¥7.78 over the past week. Reported Earnings • Aug 05
Second quarter 2021 earnings released: EPS CN¥0.37 (vs CN¥0.17 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥128.2b (up 33% from 2Q 2020). Net income: CN¥783.5m (up 95% from 2Q 2020). Profit margin: 0.6% (up from 0.4% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 14% per year. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥7.30, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 20x in the Logistics industry in China. Total returns to shareholders of 70% over the past three years. Reported Earnings • Apr 08
Full year 2020 earnings released: EPS CN¥0.54 (vs CN¥0.45 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: CN¥360.2b (up 32% from FY 2019). Net income: CN¥1.30b (up 18% from FY 2019). Profit margin: 0.4% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Jan 26
New 90-day low: CN¥5.44 The company is down 9.0% from its price of CN¥5.97 on 28 October 2020. The Chinese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥6.02 per share. Is New 90 Day High Low • Jan 08
New 90-day low: CN¥5.85 The company is down 6.0% from its price of CN¥6.23 on 09 October 2020. The Chinese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥5.98 per share. Is New 90 Day High Low • Nov 03
New 90-day low: CN¥5.86 The company is down 13% from its price of CN¥6.70 on 05 August 2020. The Chinese market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥5.02 per share. Reported Earnings • Oct 28
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥1.21b, up 7.7% from the prior year. Total revenue was CN¥340.5b over the last 12 months, up 29% from the prior year. 
