Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥11.13, the stock trades at a trailing P/E ratio of 24.8x. Average trailing P/E is 25x in the Oil and Gas industry in China. Total loss to shareholders of 17% over the past three years. Announcement • Jun 30
Hengtong Logistics Co., Ltd. to Report First Half, 2026 Results on Aug 26, 2026 Hengtong Logistics Co., Ltd. announced that they will report first half, 2026 results on Aug 26, 2026 Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥10.99, the stock trades at a trailing P/E ratio of 24.5x. Average trailing P/E is 26x in the Oil and Gas industry in China. Total loss to shareholders of 18% over the past three years. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥10.70, the stock trades at a trailing P/E ratio of 23.8x. Average trailing P/E is 27x in the Oil and Gas industry in China. Total loss to shareholders of 21% over the past three years. Announcement • Apr 20
Hengtong Logistics Co., Ltd., Annual General Meeting, May 08, 2026 Hengtong Logistics Co., Ltd., Annual General Meeting, May 08, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Yantai, Shandong China Reported Earnings • Apr 19
First quarter 2026 earnings released: EPS: CN¥0.13 (vs CN¥0.06 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.13 (up from CN¥0.06 in 1Q 2025). Revenue: CN¥337.8m (up 7.8% from 1Q 2025). Net income: CN¥93.2m (up 119% from 1Q 2025). Profit margin: 28% (up from 14% in 1Q 2025). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Mar 30
Hengtong Logistics Co., Ltd. to Report Q1, 2026 Results on Apr 18, 2026 Hengtong Logistics Co., Ltd. announced that they will report Q1, 2026 results on Apr 18, 2026 Announcement • Dec 26
Hengtong Logistics Co., Ltd. to Report Fiscal Year 2025 Results on Apr 18, 2026 Hengtong Logistics Co., Ltd. announced that they will report fiscal year 2025 results on Apr 18, 2026 Valuation Update With 7 Day Price Move • Dec 11
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥9.69, the stock trades at a trailing P/E ratio of 29.4x. Average trailing P/E is 22x in the Oil and Gas industry in China. Total loss to shareholders of 32% over the past three years. Reported Earnings • Oct 24
Third quarter 2025 earnings released: EPS: CN¥0.088 (vs CN¥0.04 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.088 (up from CN¥0.04 in 3Q 2024). Revenue: CN¥381.1m (down 27% from 3Q 2024). Net income: CN¥76.6m (up 183% from 3Q 2024). Profit margin: 20% (up from 5.2% in 3Q 2024). 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 4.8% growth forecast for the Oil and Gas industry in China. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Hengtong Logistics Co., Ltd. to Report Q3, 2025 Results on Oct 22, 2025 Hengtong Logistics Co., Ltd. announced that they will report Q3, 2025 results on Oct 22, 2025 Announcement • Jun 30
Hengtong Logistics Co., Ltd. to Report First Half, 2025 Results on Aug 28, 2025 Hengtong Logistics Co., Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥9.36, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 12x in the Oil and Gas industry in China. Total loss to shareholders of 36% over the past three years. Reported Earnings • Apr 25
First quarter 2025 earnings released: EPS: CN¥0.06 (vs CN¥0.04 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.06 (up from CN¥0.04 in 1Q 2024). Revenue: CN¥313.5m (down 53% from 1Q 2024). Net income: CN¥42.5m (up 52% from 1Q 2024). Profit margin: 14% (up from 4.2% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Oil and Gas industry in China. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. New Risk • Mar 30
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.8% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 High level of non-cash earnings (30% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Announcement • Mar 28
Hengtong Logistics Co., Ltd. to Report Q1, 2025 Results on Apr 30, 2025 Hengtong Logistics Co., Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Reported Earnings • Mar 18
Full year 2024 earnings released: EPS: CN¥0.22 (vs CN¥0.16 in FY 2023) Full year 2024 results: EPS: CN¥0.22 (up from CN¥0.16 in FY 2023). Revenue: CN¥2.00b (down 47% from FY 2023). Net income: CN¥155.1m (up 32% from FY 2023). Profit margin: 7.7% (up from 3.1% in FY 2023). The increase in margin was driven by lower expenses. 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 16% per year, which means it is significantly lagging earnings. Announcement • Mar 18
Hengtong Logistics Co., Ltd., Annual General Meeting, Apr 07, 2025 Hengtong Logistics Co., Ltd., Annual General Meeting, Apr 07, 2025, at 14:30 China Standard Time. Location: The Company's Meeting Room, Yantai, Shandong China Announcement • Dec 27
Hengtong Logistics Co., Ltd. to Report Fiscal Year 2024 Results on Mar 18, 2025 Hengtong Logistics Co., Ltd. announced that they will report fiscal year 2024 results on Mar 18, 2025 Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.04 (vs CN¥0.051 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.04 (down from CN¥0.051 in 3Q 2023). Revenue: CN¥520.9m (down 51% from 3Q 2023). Net income: CN¥27.1m (down 15% from 3Q 2023). Profit margin: 5.2% (up from 3.0% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥9.04, the stock trades at a trailing P/E ratio of 52x. Average trailing P/E is 14x in the Oil and Gas industry in China. Total loss to shareholders of 50% over the past three years. Announcement • Sep 30
Hengtong Logistics Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Hengtong Logistics Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 New Risk • Sep 23
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 6.7% 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 High level of non-cash earnings (42% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.7% average weekly change). Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: CN¥0.06 (vs CN¥0.047 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.06 (up from CN¥0.047 in 2Q 2023). Revenue: CN¥546.1m (down 47% from 2Q 2023). Net income: CN¥43.5m (up 15% from 2Q 2023). Profit margin: 8.0% (up from 3.7% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Announcement • Jun 28
Hengtong Logistics Co., Ltd. to Report First Half, 2024 Results on Aug 29, 2024 Hengtong Logistics Co., Ltd. announced that they will report first half, 2024 results on Aug 29, 2024 Declared Dividend • May 30
Dividend of CN¥0.05 announced Shareholders will receive a dividend of CN¥0.05. Ex-date: 3rd June 2024 Payment date: 3rd June 2024 Dividend yield will be 0.7%, which is lower than the industry average of 8.0%. Sustainability & Growth Dividend is covered by earnings (32% earnings payout ratio) but 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 13% per year over the past 8 years. However, payments have been volatile during that time. Earnings per share has grown by 23% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.04 (vs CN¥0.043 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.04 (down from CN¥0.043 in 1Q 2023). Revenue: CN¥662.6m (down 25% from 1Q 2023). Net income: CN¥28.1m (down 1.5% from 1Q 2023). Profit margin: 4.2% (up from 3.2% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Apr 19
Hengtong Logistics Co., Ltd., Annual General Meeting, May 08, 2024 Hengtong Logistics Co., Ltd., Annual General Meeting, May 08, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Yantai, Shandong China Reported Earnings • Apr 18
Full year 2023 earnings released: EPS: CN¥0.16 (vs CN¥0.16 in FY 2022) Full year 2023 results: EPS: CN¥0.16. Revenue: CN¥3.76b (down 29% from FY 2022). Net income: CN¥117.5m (up 13% from FY 2022). Profit margin: 3.1% (up from 2.0% in FY 2022). The increase in margin was driven by lower expenses. Announcement • Mar 29
Hengtong Logistics Co., Ltd. to Report Q1, 2024 Results on Apr 26, 2024 Hengtong Logistics Co., Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥7.70, the stock trades at a trailing P/E ratio of 37.6x. Average trailing P/E is 11x in the Oil and Gas industry in China. Total loss to shareholders of 15% over the past three years. Announcement • Dec 29
Hengtong Logistics Co., Ltd. to Report Fiscal Year 2023 Results on Apr 18, 2024 Hengtong Logistics Co., Ltd. announced that they will report fiscal year 2023 results on Apr 18, 2024 Announcement • Dec 12
Hengtong Logistics Co., Ltd. (SHSE:603223) announces an Equity Buyback for CNY 80 million worth of its shares. Hengtong Logistics Co., Ltd. (SHSE:603223) announces a share repurchase program. Under the program, the company will repurchase up to CNY 80 million worth of its A shares. Shares will be repurchased at a price not more than CNY 15.06 per Share. All the shares repurchased will be used for the implementation of ESOP or equity incentives. The program will be valid for a period of 12 months. Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to CN¥10.24, the stock trades at a trailing P/E ratio of 50x. Average trailing P/E is 10x in the Oil and Gas industry in China. Total returns to shareholders of 17% over the past three years. Reported Earnings • Oct 18
Third quarter 2023 earnings released: EPS: CN¥0.051 (vs CN¥0.041 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.051 (up from CN¥0.041 in 3Q 2022). Revenue: CN¥1.06b (down 17% from 3Q 2022). Net income: CN¥31.9m (up 17% from 3Q 2022). Profit margin: 3.0% (up from 2.1% in 3Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. New Risk • Oct 18
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 6.5% 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. Announcement • Sep 30
Hengtong Logistics Co., Ltd. to Report Q3, 2023 Results on Oct 23, 2023 Hengtong Logistics Co., Ltd. announced that they will report Q3, 2023 results on Oct 23, 2023 Reported Earnings • Aug 23
Second quarter 2023 earnings released: EPS: CN¥0.047 (vs CN¥0.028 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.047 (up from CN¥0.028 in 2Q 2022). Revenue: CN¥1.02b (down 15% from 2Q 2022). Net income: CN¥37.9m (up 105% from 2Q 2022). Profit margin: 3.7% (up from 1.5% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Announcement • Jun 28
Hengtong Logistics Co., Ltd. to Report Q2, 2023 Results on Aug 23, 2023 Hengtong Logistics Co., Ltd. announced that they will report Q2, 2023 results on Aug 23, 2023 Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorates as stock falls 29% After last week's 29% share price decline to CN¥14.39, the stock trades at a trailing P/E ratio of 60.1x. Average trailing P/E is 9x in the Oil and Gas industry in China. Total returns to shareholders of 86% over the past three years. Reported Earnings • Apr 24
Full year 2022 earnings released: EPS: CN¥0.23 (vs CN¥0.25 in FY 2021) Full year 2022 results: EPS: CN¥0.23. Revenue: CN¥5.27b (down 26% from FY 2021). Net income: CN¥103.7m (up 4.4% from FY 2021). Profit margin: 2.0% (up from 1.4% in FY 2021). The increase in margin was driven by lower expenses. Board Change • Nov 16
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. 11 experienced directors. 1 highly experienced director. 3 independent directors (6 non-independent directors). Deputy GM & Director Yunfei Xie was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: CN¥0.058 (vs CN¥0.021 loss in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.058 (up from CN¥0.021 loss in 3Q 2021). Revenue: CN¥1.27b (down 32% from 3Q 2021). Net income: CN¥27.3m (up CN¥35.0m from 3Q 2021). Profit margin: 2.1% (up from net loss in 3Q 2021). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 66% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 31
Second quarter 2022 earnings released: EPS: CN¥0.04 (vs CN¥0.04 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.04 (vs CN¥0.04 in 2Q 2021). Revenue: CN¥1.20b (down 32% from 2Q 2021). Net income: CN¥18.5m (up 14% from 2Q 2021). Profit margin: 1.5% (up from 0.9% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has increased by 78% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 27
Full year 2021 earnings released: EPS: CN¥0.35 (vs CN¥0.43 in FY 2020) Full year 2021 results: EPS: CN¥0.35 (down from CN¥0.43 in FY 2020). Revenue: CN¥7.08b (up 27% from FY 2020). Net income: CN¥99.3m (down 19% from FY 2020). Profit margin: 1.4% (down from 2.2% in FY 2020). Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 60% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 26
Third quarter 2021 earnings released: CN¥0.029 loss per share (vs CN¥0.14 profit in 3Q 2020) The company reported a soft third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: CN¥1.87b (up 29% from 3Q 2020). Net loss: CN¥7.69m (down 119% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 62% per year whereas the company’s share price has increased by 63% per year. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS CN¥0.055 (vs CN¥0.092 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥1.78b (up 17% from 2Q 2020). Net income: CN¥16.3m (down 46% from 2Q 2020). Profit margin: 0.9% (down from 2.0% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has increased by 58% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 16
Hengtong Logistics' Controlling Shareholder and Affiliates Plan to Increase Stake in the Company Hengtong Logistics Co., Ltd. (SHSE:603223) said controlling shareholder and affiliates plan to increase shareholdings in the company for up to CNY 200 million ($31.25 million). Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥27.30, the stock trades at a trailing P/E ratio of 42.2x. Average trailing P/E is 15x in the Oil and Gas industry in China. Total returns to shareholders of 166% over the past three years. Reported Earnings • Apr 24
First quarter 2021 earnings released: EPS CN¥0.23 (vs CN¥0.02 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¥1.52b (up 68% from 1Q 2020). Net income: CN¥63.5m (up CN¥68.2m from 1Q 2020). Profit margin: 4.2% (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 increased by 21% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Mar 11
New 90-day high: CN¥21.77 The company is up 5.0% from its price of CN¥20.82 on 11 December 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is down 1.0% over the same period. Is New 90 Day High Low • Nov 19
New 90-day high: CN¥21.83 The company is up 56% from its price of CN¥14.00 on 21 August 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 3.0% over the same period. Is New 90 Day High Low • Oct 28
New 90-day high: CN¥17.56 The company is up 25% from its price of CN¥14.10 on 30 July 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is down 1.0% over the same period. Is New 90 Day High Low • Sep 29
New 90-day high: CN¥15.78 The company is up 17% from its price of CN¥13.53 on 01 July 2020. The Chinese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 12% over the same period. Announcement • Jul 10
Hengtong Logistics Co., Ltd. to Report First Half, 2020 Results on Aug 27, 2020 Hengtong Logistics Co., Ltd. announced that they will report first half, 2020 results on Aug 27, 2020