Announcement • May 08
China Film Co., Ltd., Annual General Meeting, May 28, 2026 China Film Co., Ltd., Annual General Meeting, May 28, 2026, at 10:00 China Standard Time. Location: The Company's Meeting Room, Haidian District, Beijing China New Risk • May 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 31% 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 419% Paying a dividend despite having no free cash flows. High level of non-cash earnings (31% accrual ratio). New Risk • Apr 28
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Dividend per share is over 5x earnings per share. Dividend per share is over 51x cash flows per share. Dividend yield: 2.4% 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. Dividend per share is over 5x earnings per share. Dividend per share is over 51x cash flows per share. Minor Risk Large one-off items impacting financial results. Reported Earnings • Apr 19
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: CN¥0.062 (down from CN¥0.075 in FY 2024). Revenue: CN¥4.83b (up 5.7% from FY 2024). Net income: CN¥116.5m (down 17% from FY 2024). Profit margin: 2.4% (down from 3.1% in FY 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 29%. Revenue is forecast to grow 9.9% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 2% per year. Announcement • Mar 30
China Film Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 China Film Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Announcement • Dec 26
China Film Co., Ltd. to Report Fiscal Year 2025 Results on Apr 18, 2026 China Film Co., Ltd. announced that they will report fiscal year 2025 results on Apr 18, 2026 Reported Earnings • Oct 29
Third quarter 2025 earnings released: EPS: CN¥0.099 (vs CN¥0.006 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.099 (up from CN¥0.006 in 3Q 2024). Revenue: CN¥1.21b (up 36% from 3Q 2024). Net income: CN¥176.7m (up CN¥165.4m from 3Q 2024). Profit margin: 15% (up from 1.3% in 3Q 2024). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Entertainment 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 10% per year, which means it is well ahead of earnings. Announcement • Sep 30
China Film Co., Ltd. to Report Q3, 2025 Results on Oct 29, 2025 China Film Co., Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 New Risk • Sep 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Sep 01
Second quarter 2025 earnings released: EPS: CN¥0.016 (vs CN¥0.057 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.016 (down from CN¥0.057 in 2Q 2024). Revenue: CN¥722.7m (down 34% from 2Q 2024). Net income: CN¥30.4m (down 72% from 2Q 2024). Profit margin: 4.2% (down from 9.8% in 2Q 2024). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 12% per year. Price Target Changed • Aug 28
Price target increased by 15% to CN¥11.75 Up from CN¥10.19, the current price target is an average from 3 analysts. New target price is 13% below last closing price of CN¥13.56. Stock is up 39% over the past year. The company is forecast to post earnings per share of CN¥0.29 for next year compared to CN¥0.075 last year. Announcement • Jun 30
China Film Co., Ltd. to Report First Half, 2025 Results on Aug 27, 2025 China Film Co., Ltd. announced that they will report first half, 2025 results on Aug 27, 2025 Board Change • May 14
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Ying Zhang was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • May 05
Price target decreased by 7.3% to CN¥10.12 Down from CN¥10.91, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of CN¥10.19. Stock is down 15% over the past year. The company is forecast to post earnings per share of CN¥0.31 for next year compared to CN¥0.075 last year. Announcement • Apr 30
China Film Co., Ltd., Annual General Meeting, May 20, 2025 China Film Co., Ltd., Annual General Meeting, May 20, 2025, at 10:00 China Standard Time. Location: The Company's Meeting Room, Beijing China New Risk • Apr 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 185% 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 Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.1% net profit margin). Reported Earnings • Apr 23
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: CN¥0.075 (down from CN¥0.14 in FY 2023). Revenue: CN¥4.57b (down 14% from FY 2023). Net income: CN¥140.5m (down 47% from FY 2023). Profit margin: 3.1% (down from 4.9% in FY 2023). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 43%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Apr 22
Consensus revenue estimates fall by 13% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥5.73b to CN¥4.97b. EPS estimate fell from CN¥0.345 to CN¥0.316 per share. Net income forecast to grow 6,430% next year vs 72% growth forecast for Entertainment industry in China. Consensus price target down from CN¥10.91 to CN¥10.47. Share price was steady at CN¥10.52 over the past week. Major Estimate Revision • Mar 30
Consensus EPS estimates fall by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥4.59b to CN¥4.50b. EPS estimate also fell from CN¥0.16 per share to CN¥0.132 per share. Net income forecast to grow 6,946% next year vs 62% growth forecast for Entertainment industry in China. Consensus price target broadly unchanged at CN¥10.91. Share price was steady at CN¥10.81 over the past week. Announcement • Mar 28
China Film Co., Ltd. to Report Q1, 2025 Results on Apr 30, 2025 China Film Co., Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Announcement • Dec 27
China Film Co., Ltd. to Report Fiscal Year 2024 Results on Apr 19, 2025 China Film Co., Ltd. announced that they will report fiscal year 2024 results on Apr 19, 2025 Price Target Changed • Oct 30
Price target increased by 8.4% to CN¥10.81 Up from CN¥9.98, the current price target is an average from 4 analysts. New target price is 5.4% below last closing price of CN¥11.43. Stock is down 4.8% over the past year. The company is forecast to post earnings per share of CN¥0.12 for next year compared to CN¥0.14 last year. Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.006 (vs CN¥0.059 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.006 (down from CN¥0.059 in 3Q 2023). Revenue: CN¥893.4m (down 34% from 3Q 2023). Net income: CN¥11.3m (down 90% from 3Q 2023). Profit margin: 1.3% (down from 8.2% in 3Q 2023). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Major Estimate Revision • Oct 29
Consensus revenue estimates decrease by 16% The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from CN¥5.05b to CN¥4.24b. EPS estimate unchanged from CN¥0.29 per share at last update. Entertainment industry in China expected to see average net income growth of 54% next year. Consensus price target of CN¥10.18 unchanged from last update. Share price was steady at CN¥11.36 over the past week. Announcement • Sep 30
China Film Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 China Film Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Price Target Changed • Sep 12
Price target decreased by 9.9% to CN¥9.98 Down from CN¥11.08, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of CN¥9.79. Stock is down 30% over the past year. The company is forecast to post earnings per share of CN¥0.29 for next year compared to CN¥0.14 last year. Major Estimate Revision • Sep 03
Consensus revenue estimates fall by 27% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥6.32b to CN¥4.63b. EPS estimate fell from CN¥0.535 to CN¥0.30 per share. Net income forecast to grow 642% next year vs 81% growth forecast for Entertainment industry in China. Consensus price target down from CN¥11.60 to CN¥11.08. Share price was steady at CN¥9.73 over the past week. New Risk • Sep 02
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 124% Cash payout ratio: 204% Dividend yield: 0.7% 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: 124% Cash payout ratio: 204% Minor Risk Large one-off items impacting financial results. Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: CN¥0.057 (vs CN¥0.096 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.057 (down from CN¥0.096 in 2Q 2023). Revenue: CN¥1.10b (down 22% from 2Q 2023). Net income: CN¥107.3m (down 40% from 2Q 2023). Profit margin: 9.8% (down from 13% in 2Q 2023). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 7% per year. Announcement • Jun 28
China Film Co., Ltd. to Report First Half, 2024 Results on Aug 28, 2024 China Film Co., Ltd. announced that they will report first half, 2024 results on Aug 28, 2024 Announcement • Jun 05
China Film Co., Ltd., Annual General Meeting, Jun 24, 2024 China Film Co., Ltd., Annual General Meeting, Jun 24, 2024, at 10:00 China Standard Time. Location: The Company's Meeting Room, Beijing China Major Estimate Revision • May 12
Consensus revenue estimates increase by 13% The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from CN¥5.85b to CN¥6.62b. EPS estimate unchanged from CN¥0.39 at last update. Entertainment industry in China expected to see average net income growth of 65% next year. Consensus price target down from CN¥12.03 to CN¥11.60. Share price was steady at CN¥11.83 over the past week. Major Estimate Revision • Apr 26
Consensus revenue estimates fall by 15% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥6.92b to CN¥5.85b. EPS estimate fell from CN¥0.508 to CN¥0.39 per share. Net income forecast to grow 180% next year vs 52% growth forecast for Entertainment industry in China. Consensus price target down from CN¥12.28 to CN¥12.03. Share price rose 2.0% to CN¥12.04 over the past week. Reported Earnings • Apr 20
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.14 (up from CN¥0.12 loss in FY 2022). Revenue: CN¥5.33b (up 83% from FY 2022). Net income: CN¥263.0m (up CN¥477.9m from FY 2022). Profit margin: 4.9% (up from net loss in FY 2022). Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 50%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Mar 30
China Film Co., Ltd. to Report Q1, 2024 Results on Apr 30, 2024 China Film Co., Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Price Target Changed • Jan 31
Price target decreased by 15% to CN¥12.28 Down from CN¥14.53, the current price target is an average from 4 analysts. New target price is 5.1% above last closing price of CN¥11.68. Stock is down 11% over the past year. The company is forecast to post earnings per share of CN¥0.28 next year compared to a net loss per share of CN¥0.12 last year. Major Estimate Revision • Jan 31
Consensus EPS estimates fall by 34% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥5.83b to CN¥5.53b. EPS estimate also fell from CN¥0.424 per share to CN¥0.28 per share. Net income forecast to grow 230% next year vs 60% growth forecast for Entertainment industry in China. Consensus price target down from CN¥14.53 to CN¥12.28. Share price rose 2.5% to CN¥11.68 over the past week. Announcement • Dec 30
China Film Co., Ltd. to Report Fiscal Year 2023 Results on Apr 27, 2024 China Film Co., Ltd. announced that they will report fiscal year 2023 results on Apr 27, 2024 Buying Opportunity • Dec 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 7.8%. The fair value is estimated to be CN¥16.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 70% in 2 years. Earnings is forecast to grow by 382% in the next 2 years. Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: CN¥0.059 (vs CN¥0.009 loss in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.059 (up from CN¥0.009 loss in 3Q 2022). Revenue: CN¥1.35b (up 90% from 3Q 2022). Net income: CN¥110.7m (up CN¥130.2m from 3Q 2022). Profit margin: 8.2% (up from net loss in 3Q 2022). Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 26
Second quarter 2023 earnings released: EPS: CN¥0.096 (vs CN¥0.053 loss in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.096 (up from CN¥0.053 loss in 2Q 2022). Revenue: CN¥1.41b (up 146% from 2Q 2022). Net income: CN¥178.6m (up CN¥274.2m from 2Q 2022). Profit margin: 13% (up from net loss in 2Q 2022). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Board Change • Aug 22
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 2 experienced directors. No highly experienced directors. Independent Director You Hong Yang is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. New Risk • Jun 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 9.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Reported Earnings • Apr 26
Full year 2022 earnings released: CN¥0.12 loss per share (vs CN¥0.13 profit in FY 2021) Full year 2022 results: CN¥0.12 loss per share (down from CN¥0.13 profit in FY 2021). Revenue: CN¥2.92b (down 50% from FY 2021). Net loss: CN¥214.9m (down 191% from profit in FY 2021). Revenue is forecast to grow 45% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Price Target Changed • Dec 02
Price target increased to CN¥11.79 Up from CN¥10.93, the current price target is an average from 5 analysts. New target price is 15% below last closing price of CN¥13.94. Stock is up 18% over the past year. The company is forecast to post earnings per share of CN¥0.057 for next year compared to CN¥0.13 last year. 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. 4 non-independent directors. Independent Director Zengbiao Yu 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 29
Third quarter 2022 earnings released: CN¥0.009 loss per share (vs CN¥0.023 loss in 3Q 2021) Third quarter 2022 results: CN¥0.009 loss per share (improved from CN¥0.023 loss in 3Q 2021). Revenue: CN¥711.8m (down 13% from 3Q 2021). Net loss: CN¥19.6m (loss narrowed 55% from 3Q 2021). Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has fallen by 59% 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. Reported Earnings • Aug 28
Second quarter 2022 earnings released: CN¥0.053 loss per share (vs CN¥0.086 profit in 2Q 2021) Second quarter 2022 results: CN¥0.053 loss per share (down from CN¥0.086 profit in 2Q 2021). Revenue: CN¥573.8m (down 67% from 2Q 2021). Net loss: CN¥95.6m (down 159% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 69%, compared to a 27% growth forecast for the Entertainment industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Jul 13
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from CN¥5.71b to CN¥5.30b. EPS estimate rose from CN¥0.31 to CN¥0.35. Net income forecast to grow 253% next year vs 36% growth forecast for Entertainment industry in China. Consensus price target of CN¥11.38 unchanged from last update. Share price was steady at CN¥10.95 over the past week. Major Estimate Revision • May 03
Consensus revenue estimates fall by 19% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥7.55b to CN¥6.15b. EPS estimate fell from CN¥0.48 to CN¥0.31 per share. Net income forecast to grow 227% next year vs 53% growth forecast for Entertainment industry in China. Consensus price target of CN¥11.65 unchanged from last update. Share price rose 4.0% to CN¥10.23 over the past week. Reported Earnings • Apr 27
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CN¥0.062 (down from CN¥0.077 in 1Q 2021). Revenue: CN¥946.3m (down 25% from 1Q 2021). Net income: CN¥115.8m (down 19% from 1Q 2021). Profit margin: 12% (in line with 1Q 2021). Revenue missed analyst estimates by 21%. Earnings per share (EPS) also missed analyst estimates by 51%. Over the next year, revenue is forecast to grow 44%, compared to a 26% growth forecast for the industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. 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 (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 01
Price target decreased to CN¥11.91 Down from CN¥13.41, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of CN¥11.40. Stock is down 20% over the past year. The company is forecast to post earnings per share of CN¥0.50 for next year compared to CN¥0.13 last year. Reported Earnings • Mar 09
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥0.13 (up from CN¥0.30 loss in FY 2020). Revenue: CN¥5.82b (up 97% from FY 2020). Net income: CN¥237.5m (up CN¥793.8m from FY 2020). Profit margin: 4.1% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) also missed analyst estimates by 55%. Over the next year, revenue is forecast to grow 44%, compared to a 29% growth forecast for the industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Mar 05
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate fell from CN¥0.34 to CN¥0.28. Revenue forecast unchanged from CN¥6.08b at last update. Net income forecast to grow 216% next year vs 28% growth forecast for Entertainment industry in China. Consensus price target of CN¥13.41 unchanged from last update. Share price was steady at CN¥11.56 over the past week. Reported Earnings • Oct 31
Third quarter 2021 earnings released: CN¥0.023 loss per share (vs CN¥0.031 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: CN¥814.4m (up 37% from 3Q 2020). Net loss: CN¥43.6m (loss narrowed 24% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 30
Second quarter 2021 earnings released: EPS CN¥0.086 (vs CN¥0.15 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥1.75b (up CN¥1.55b from 2Q 2020). Net income: CN¥161.7m (up CN¥436.8m from 2Q 2020). Profit margin: 9.2% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Announcement • Jun 25
China Film Co.,Ltd. (SHSE:600977) signed an agreement to acquire a 15% stake in Huaxia Huanyu (Beijing) Film Technology Co., Ltd. from GDC Technology (Hong Kong) Limited for CNY 2.8 million. China Film Co.,Ltd. (SHSE:600977) signed an agreement to acquire a 15% stake in Huaxia Huanyu (Beijing) Film Technology Co., Ltd. from GDC Technology (Hong Kong) Limited for CNY 2.8 million on June 8, 2021. China Film Co.,Ltd. will fund the transaction from its own funds. In a related transaction, China Film Co.,Ltd. agreed to acquire a 80% stake in Huaxia Film (Beijing) Co., Ltd. and separately agreed to acquire a 36% stake in Huaxia Huanyu (Beijing) Film Technology Co., Ltd. from Huaxia Film Distribution Co., Ltd. through public delisting on the Wen Exchange for a total transaction price of CNY 332.1407 million. Post completion of all transactions, Huaxia Huanyu (Beijing) Film Technology Co., Ltd. will become a subsidiary of China Film Co.,Ltd. Huaxia Huanyu (Beijing) Film Technology Co., Ltd. reported total assets of CNY 19.86 million, total liabilities of CNY 1.58 million and net assets of CNY 18.28 million for the year ended October 31, 2020. Transaction is unanimously approved by board of directors of China Film Co.,Ltd. Price Target Changed • May 07
Price target increased to CN¥15.65 Up from CN¥14.58, the current price target is an average from 8 analysts. New target price is 23% above last closing price of CN¥12.67. Stock is down 6.1% over the past year. Reported Earnings • Apr 30
First quarter 2021 earnings released: EPS CN¥0.077 (vs CN¥0.12 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥1.26b (up 387% from 1Q 2020). Net income: CN¥143.5m (up CN¥370.7m from 1Q 2020). Profit margin: 11% (up from net loss in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 20
New 90-day high: CN¥13.40 The company is up 1.0% from its price of CN¥13.24 on 20 November 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Entertainment industry, which is down 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥12.95 per share. Is New 90 Day High Low • Jan 12
New 90-day low: CN¥11.72 The company is down 20% from its price of CN¥14.71 on 14 October 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥12.91 per share. Is New 90 Day High Low • Dec 28
New 90-day low: CN¥11.89 The company is down 14% from its price of CN¥13.86 on 29 September 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Entertainment industry, which is down 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥13.10 per share. Price Target Changed • Nov 08
Price target lowered to CN¥15.20 Down from CN¥16.55, the current price target is an average from 7 analysts. The new target price is 21% above the current share price of CN¥12.59. As of last close, the stock is down 7.9% over the past year. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total losses of CN¥372.0m, with earnings decreasing by CN¥1.44b from the prior year. Total revenue was CN¥3.40b over the last 12 months, down 62% from the prior year. Analyst Estimate Surprise Post Earnings • Oct 30
Third-quarter earnings released: Revenue and earnings miss expectations Third-quarter revenue missed analyst estimates by 35% at CN¥593.2m. Earnings per share (EPS) were also behind analyst expectations reported at -CN¥0.031 versus a forecast of CN¥0.084. Revenue is forecast to grow 141% over the next year, compared to a 41% growth forecast for the Entertainment industry in China. Is New 90 Day High Low • Oct 27
New 90-day low: CN¥12.68 The company is down 13% from its price of CN¥14.60 on 29 July 2020. The Chinese market is flat over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Entertainment industry, which is down 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥11.63 per share. Announcement • Oct 27
China Film Co.,Ltd. to Report Q3, 2020 Results on Oct 30, 2020 China Film Co.,Ltd. announced that they will report Q3, 2020 results on Oct 30, 2020 Price Target Changed • Sep 22
Price target raised to CN¥16.82 Up from CN¥15.68, the current price target is an average from 6 analysts. The new target price is 15% above the current share price of CN¥14.58. As of last close, the stock is down 8.0% over the past year. Announcement • Sep 01
China Film Co.,Ltd. Announces Change of Accounting Policy China Film Co.,Ltd. announced Change of Accounting Policy. Announcement • Jul 17
China Film Co.,Ltd. to Report First Half, 2020 Results on Aug 29, 2020 China Film Co.,Ltd. announced that they will report first half, 2020 results on Aug 29, 2020