Buy Or Sell Opportunity • May 14
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to CN¥3.37. The fair value is estimated to be CN¥4.44, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.3% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Apr 23
Full year 2025 earnings released: EPS: CN¥0.05 (vs CN¥0.49 loss in FY 2024) Full year 2025 results: EPS: CN¥0.05 (up from CN¥0.49 loss in FY 2024). Revenue: CN¥12.4b (up 47% from FY 2024). Net income: CN¥74.7m (up CN¥742.0m from FY 2024). Profit margin: 0.6% (up from net loss in FY 2024). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Apr 23
Citychamp Dartong Advanced Materials Co., Ltd., Annual General Meeting, May 13, 2026 Citychamp Dartong Advanced Materials Co., Ltd., Annual General Meeting, May 13, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Fuzhou, Fujian China Announcement • Mar 30
Citychamp Dartong Advanced Materials Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Citychamp Dartong Advanced Materials Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Announcement • Dec 26
Citychamp Dartong Advanced Materials Co., Ltd. to Report Fiscal Year 2025 Results on Apr 23, 2026 Citychamp Dartong Advanced Materials Co., Ltd. announced that they will report fiscal year 2025 results on Apr 23, 2026 New Risk • Dec 06
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 9.1% 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.1% average weekly change). Earnings have declined by 32% per year over the past 5 years. Minor Risk Paying a dividend despite being loss-making. New Risk • Nov 06
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 7.7% 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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 32% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (7.7% average weekly change). Reported Earnings • Oct 31
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: CN¥3.89b (up 97% from 3Q 2024). Net income: CN¥63.4m (up CN¥108.7m from 3Q 2024). Profit margin: 1.6% (up from net loss in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Sep 30
Citychamp Dartong Advanced Materials Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Citychamp Dartong Advanced Materials Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Announcement • Jun 30
Citychamp Dartong Advanced Materials Co., Ltd. to Report First Half, 2025 Results on Aug 29, 2025 Citychamp Dartong Advanced Materials Co., Ltd. announced that they will report first half, 2025 results on Aug 29, 2025 Announcement • Jun 06
Citychamp Dartong Advanced Materials Co., Ltd., Annual General Meeting, Jun 27, 2025 Citychamp Dartong Advanced Materials Co., Ltd., Annual General Meeting, Jun 27, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Fuzhou, Fujian China New Risk • May 16
New minor risk - Dividend sustainability The dividend is not well covered by earnings. The company is paying a dividend despite being loss-making. Dividend yield: 7.9% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings 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. However, this risk is mitigated by the fact the dividend is covered by cash flows. 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 Earnings have declined by 38% per year over the past 5 years. Minor Risk Paying a dividend despite being loss-making. Reported Earnings • Apr 28
Full year 2024 earnings released: CN¥0.49 loss per share (vs CN¥0.32 loss in FY 2023) Full year 2024 results: CN¥0.49 loss per share (further deteriorated from CN¥0.32 loss in FY 2023). Revenue: CN¥8.45b (down 13% from FY 2023). Net loss: CN¥667.3m (loss widened 50% from FY 2023). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Mar 28
Citychamp Dartong Advanced Materials Co., Ltd. to Report Q1, 2025 Results on Apr 30, 2025 Citychamp Dartong Advanced Materials Co., Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Announcement • Dec 27
Citychamp Dartong Advanced Materials Co., Ltd. to Report Fiscal Year 2024 Results on Apr 09, 2025 Citychamp Dartong Advanced Materials Co., Ltd. announced that they will report fiscal year 2024 results on Apr 09, 2025 Reported Earnings • Oct 30
Third quarter 2024 earnings released: CN¥0.028 loss per share (vs CN¥0.047 loss in 3Q 2023) Third quarter 2024 results: CN¥0.028 loss per share (improved from CN¥0.047 loss in 3Q 2023). Revenue: CN¥1.97b (up 16% from 3Q 2023). Net loss: CN¥45.3m (loss narrowed 39% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Citychamp Dartong Co.,Ltd. to Report Q3, 2024 Results on Oct 30, 2024 Citychamp Dartong Co.,Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Reported Earnings • Aug 30
Second quarter 2024 earnings released: CN¥0.055 loss per share (vs CN¥0.036 loss in 2Q 2023) Second quarter 2024 results: CN¥0.055 loss per share. Revenue: CN¥1.91b (down 12% from 2Q 2023). Net loss: CN¥45.6m (loss narrowed 16% from 2Q 2023). Announcement • Jul 23
Citychamp Dartong Co.,Ltd. (SHSE:600067) signed a letter of intent to acquire 55% stake in Xiandeng Hi-Tech Electric Co., Ltd. from Jiuli Group Co., Ltd., Huzhou Ruijie Equity Investment Partnership Enterprise (Limited Partnership), Huzhou Chengxun Equity Investment Partnership Enterprise(Limited Partnership), Huzhou Yuxing Industrial Investment Partnership Enterprise (Limited Partnership) and Huzhou Liangshi Equity Investment Partnership Enterprise (Limited Partnership). Citychamp Dartong Co.,Ltd. (SHSE:600067) signed a letter of intent to acquire 55% stake in Xiandeng Hi-Tech Electric Co., Ltd. from Jiuli Group Co., Ltd., Huzhou Ruijie Equity Investment Partnership Enterprise (Limited Partnership), Huzhou Chengxun Equity Investment Partnership Enterprise(Limited Partnership), Huzhou Yuxing Industrial Investment Partnership Enterprise (Limited Partnership) and Huzhou Liangshi Equity Investment Partnership Enterprise (Limited Partnership) on July 22, 2024. Within 7 working days from the signing date of this agreement, Party A agrees to pay CNY 1 million as a good faith deposit to the target company. Both parties confirm that if the formal share transfer agreement is not signed by September 30, 2024, it will be deemed that the transaction has not been completed. Regardless of whether the transaction is completed or not, the target company must return the entire good faith deposit. For the period ending December 31, 2023, Xiandeng Hi-Tech Electric Co., Ltd. reported total revenue of CNY 3.83 billion, net income of CNY 12.35 million, total assets of CNY 1.63 billion and total common equity of CNY 500.56 million. The transaction is subject to definitive agreement. Announcement • Jun 28
Citychamp Dartong Co.,Ltd. to Report First Half, 2024 Results on Aug 30, 2024 Citychamp Dartong Co.,Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Announcement • Jun 08
Citychamp Dartong Co.,Ltd., Annual General Meeting, Jun 27, 2024 Citychamp Dartong Co.,Ltd., Annual General Meeting, Jun 27, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Fuzhou, Fujian China New Risk • May 19
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 41% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 54% per year over the past 5 years. Minor Risk High level of debt (41% net debt to equity). Reported Earnings • Apr 18
Full year 2023 earnings released: CN¥0.32 loss per share (vs CN¥0.05 profit in FY 2022) Full year 2023 results: CN¥0.32 loss per share (down from CN¥0.05 profit in FY 2022). Revenue: CN¥9.72b (down 13% from FY 2022). Net loss: CN¥444.6m (down CN¥514.8m from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Announcement • Mar 29
Citychamp Dartong Co.,Ltd. to Report Q1, 2024 Results on Apr 29, 2024 Citychamp Dartong Co.,Ltd. announced that they will report Q1, 2024 results on Apr 29, 2024 Announcement • Feb 09
Citychamp Dartong Co.,Ltd. (SHSE:600067) announces an Equity Buyback for CNY 100 million worth of its shares. Citychamp Dartong Co.,Ltd. (SHSE:600067) announces a share repurchase program. Under the program, The company will repurchase not more than CNY 100 million worth of its own shares. The shares will be repurchased at a price not more than CNY 3.58 per share. The shares will be repurchased to safeguard the value of listed companies and shareholders’ rights. The repurchases will be sourced out of own funds of the company. The plan will be valid for a period of 3 months. Announcement • Dec 29
Citychamp Dartong Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 18, 2024 Citychamp Dartong Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 18, 2024 New Risk • Nov 06
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.07x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.07x net interest cover). Earnings have declined by 54% per year over the past 5 years. New Risk • Oct 07
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 6.0% 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. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Earnings have declined by 52% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.0% average weekly change). Reported Earnings • Aug 25
Second quarter 2023 earnings released: CN¥0.036 loss per share (vs CN¥0.05 profit in 2Q 2022) Second quarter 2023 results: CN¥0.036 loss per share (down from CN¥0.05 profit in 2Q 2022). Revenue: CN¥2.18b (down 51% from 2Q 2022). Net loss: CN¥54.2m (down 179% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 12
Full year 2022 earnings released: EPS: CN¥0.05 (vs CN¥0.70 loss in FY 2021) Full year 2022 results: EPS: CN¥0.05 (up from CN¥0.70 loss in FY 2021). Revenue: CN¥11.1b (up 18% from FY 2021). Net income: CN¥70.2m (up CN¥1.05b from FY 2021). Profit margin: 0.6% (up from net loss in FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 6 non-independent directors. Independent Director Ling Chen was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 28
Third quarter 2022 earnings released: CN¥0.047 loss per share (vs CN¥0.038 loss in 3Q 2021) Third quarter 2022 results: CN¥0.047 loss per share (further deteriorated from CN¥0.038 loss in 3Q 2021). Revenue: CN¥1.99b (flat on 3Q 2021). Net loss: CN¥68.4m (loss widened 29% from 3Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: CN¥0.05 (vs CN¥0.054 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.05. Revenue: CN¥4.47b (up 94% from 2Q 2021). Net income: CN¥69.0m (up 29% from 2Q 2021). Profit margin: 1.5% (down from 2.3% in 2Q 2021). Reported Earnings • Apr 27
First quarter 2022 earnings: EPS in line with expectations, revenues disappoint First quarter 2022 results: EPS: CN¥0.02 (up from CN¥0.01 in 1Q 2021). Revenue: CN¥2.58b (up 22% from 1Q 2021). Net income: CN¥27.3m (up 43% from 1Q 2021). Profit margin: 1.1% (up from 0.9% in 1Q 2021). Revenue missed analyst estimates by 12%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 3 independent directors (6 non-independent directors). GM of HR Department & Employee Representative Supervisor Cuihong Ge was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Buying Opportunity • Apr 07
Now 26% undervalued after recent price drop Over the last 90 days, the stock is down 8.0%. The fair value is estimated to be CN¥5.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.8% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Apr 03
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: CN¥0.70 loss per share (down from CN¥0.22 profit in FY 2020). Revenue: CN¥9.46b (up 6.4% from FY 2020). Net loss: CN¥976.3m (down 413% from profit in FY 2020). Revenue missed analyst estimates by 12%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Reported Earnings • Oct 31
Third quarter 2021 earnings released: CN¥0.018 loss per share (vs CN¥0.36 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: CN¥1.97b (down 39% from 3Q 2020). Net loss: CN¥52.8m (down 111% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥4.95, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 13x in the Real Estate industry in China. Total returns to shareholders of 31% over the past three years. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS CN¥0.054 (vs CN¥0.029 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¥2.31b (up 55% from 2Q 2020). Net income: CN¥53.3m (up CN¥95.7m from 2Q 2020). Profit margin: 2.3% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. 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 2% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 09
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥4.42, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 13x in the Real Estate industry in China. Total returns to shareholders of 16% over the past three years. Reported Earnings • May 01
First quarter 2021 earnings released: EPS CN¥0.01 (vs CN¥0.05 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¥2.12b (up 149% from 1Q 2020). Net income: CN¥19.1m (up CN¥94.8m from 1Q 2020). Profit margin: 0.9% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Reported Earnings • Mar 03
Full year 2020 earnings released: EPS CN¥0.22 (vs CN¥0.29 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: CN¥8.89b (up 14% from FY 2019). Net income: CN¥312.4m (down 25% from FY 2019). Profit margin: 3.5% (down from 5.4% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Jan 29
New 90-day low: CN¥3.36 The company is down 8.0% from its price of CN¥3.64 on 30 October 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 6.0% over the same period. Announcement • Jan 21
Citychamp Dartong Co., Ltd. to Report Fiscal Year 2020 Results on Mar 13, 2021 Citychamp Dartong Co., Ltd. announced that they will report fiscal year 2020 results on Mar 13, 2021 Announcement • Jan 17
Beijing Century Maxima Trading Co., Ltd. agreed to acquire Beijing Jingguan Real Estate Development Co., Ltd. from Citychamp Dartong Co., Ltd. (SHSE:600067) for approximately CNY 210 million. Beijing Century Maxima Trading Co., Ltd. agreed to acquire Beijing Jingguan Real Estate Development Co., Ltd. from Citychamp Dartong Co., Ltd. (SHSE:600067) for approximately CNY 210 million on January 15, 2021. As of September 30, 2020, Beijing Jingguan Real Estate Development Co., Ltd. has reported total assets of CNY 289.74 million and net assets of CNY 141.98 million. The Board of Directors of Citychamp Dartong Co., Ltd. has approved the transaction. Is New 90 Day High Low • Jan 11
New 90-day low: CN¥3.51 The company is down 6.0% from its price of CN¥3.74 on 13 October 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is down 10.0% over the same period. Reported Earnings • Oct 20
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥558.0m, down 20% from the prior year. Total revenue was CN¥8.13b over the last 12 months, down 3.6% from the prior year. Announcement • Oct 16
Citychamp Dartong Co., Ltd. to Report Q3, 2020 Results on Oct 20, 2020 Citychamp Dartong Co., Ltd. announced that they will report Q3, 2020 results on Oct 20, 2020 Is New 90 Day High Low • Sep 24
New 90-day high: CN¥4.01 The company is up 15% from its price of CN¥3.50 on 24 June 2020. The Chinese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 10.0% over the same period. Announcement • Jul 17
Citychamp Dartong Co., Ltd. to Report First Half, 2020 Results on Aug 29, 2020 Citychamp Dartong Co., Ltd. announced that they will report first half, 2020 results on Aug 29, 2020 
