Announcement • Jun 30
Changchun BCHT Biotechnology Co. to Report First Half, 2026 Results on Aug 21, 2026 Changchun BCHT Biotechnology Co. announced that they will report first half, 2026 results on Aug 21, 2026 Reported Earnings • Apr 22
First quarter 2026 earnings released: CN¥0.01 loss per share (vs CN¥0.003 profit in 1Q 2025) First quarter 2026 results: CN¥0.01 loss per share (down from CN¥0.003 profit in 1Q 2025). Revenue: CN¥147.4m (down 9.2% from 1Q 2025). Net loss: CN¥3.47m (down 426% from profit in 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 36 percentage points per year, which is a significant difference in performance. Announcement • Apr 22
Changchun BCHT Biotechnology Co., Annual General Meeting, May 15, 2026 Changchun BCHT Biotechnology Co., Annual General Meeting, May 15, 2026, at 14:00 China Standard Time. Location: 5F, No. 138, Zhuoyue Avenue, Changchun, Jilin China Announcement • Mar 30
Changchun BCHT Biotechnology Co. to Report Q1, 2026 Results on Apr 22, 2026 Changchun BCHT Biotechnology Co. announced that they will report Q1, 2026 results on Apr 22, 2026 Reported Earnings • Mar 04
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: CN¥0.66 loss per share (down from CN¥0.56 profit in FY 2024). Revenue: CN¥591.8m (down 52% from FY 2024). Net loss: CN¥272.1m (down 217% from profit in FY 2024). Revenue missed analyst estimates by 73%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 32% per year, which means it has not declined as severely as earnings. New Risk • Feb 19
New major risk - Revenue and earnings growth Earnings have declined by 13% 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 Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 13% per year over the past 5 years. Announcement • Dec 26
Changchun BCHT Biotechnology Co. to Report Fiscal Year 2025 Results on Mar 12, 2026 Changchun BCHT Biotechnology Co. announced that they will report fiscal year 2025 results on Mar 12, 2026 Reported Earnings • Oct 31
Third quarter 2025 earnings released Third quarter 2025 results: Net income: (down CN¥106.8m from profit in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 32% per year, which means it is performing significantly worse than earnings. Announcement • Sep 30
Changchun BCHT Biotechnology Co. to Report Q3, 2025 Results on Oct 31, 2025 Changchun BCHT Biotechnology Co. announced that they will report Q3, 2025 results on Oct 31, 2025 Announcement • Jul 03
Changchun BCHT Biotechnology Co. to Report First Half, 2025 Results on Aug 30, 2025 Changchun BCHT Biotechnology Co. announced that they will report first half, 2025 results on Aug 30, 2025 Major Estimate Revision • Apr 30
Consensus revenue estimates fall by 50% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥2.68b to CN¥1.35b. EPS estimate fell from CN¥2.04 to CN¥1.89 per share. Net income forecast to grow 268% next year vs 32% growth forecast for Biotechs industry in China. Consensus price target of CN¥28.00 unchanged from last update. Share price was steady at CN¥20.54 over the past week. Reported Earnings • Apr 22
First quarter 2025 earnings released First quarter 2025 results: Revenue: CN¥162.3m (down 40% from 1Q 2024). Net income: CN¥1.06m (down 98% from 1Q 2024). Profit margin: 0.7% (down from 22% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 62% p.a. on average during the next 2 years, compared to a 25% growth forecast for the Biotechs industry in China. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Announcement • Apr 21
Changchun BCHT Biotechnology Co., Annual General Meeting, May 13, 2025 Changchun BCHT Biotechnology Co., Annual General Meeting, May 13, 2025, at 14:00 China Standard Time. Location: 5F, No. 138, Zhuoyue Avenue, Changchun, Jilin China Announcement • Mar 28
Changchun BCHT Biotechnology Co. to Report Q1, 2025 Results on Apr 21, 2025 Changchun BCHT Biotechnology Co. announced that they will report Q1, 2025 results on Apr 21, 2025 Announcement • Dec 27
Changchun BCHT Biotechnology Co. to Report Fiscal Year 2024 Results on Apr 21, 2025 Changchun BCHT Biotechnology Co. announced that they will report fiscal year 2024 results on Apr 21, 2025 Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: CN¥0.26 (vs CN¥0.53 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.26 (down from CN¥0.53 in 3Q 2023). Revenue: CN¥407.6m (down 40% from 3Q 2023). Net income: CN¥106.8m (down 51% from 3Q 2023). Profit margin: 26% (down from 32% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Biotechs industry in China. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to CN¥27.18, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 25x in the Biotechs industry in China. Total loss to shareholders of 66% over the past three years. Announcement • Sep 30
Changchun BCHT Biotechnology Co. to Report Q3, 2024 Results on Oct 26, 2024 Changchun BCHT Biotechnology Co. announced that they will report Q3, 2024 results on Oct 26, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥26.27, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 21x in the Biotechs industry in China. Total loss to shareholders of 73% over the past three years. New Risk • Sep 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 6.9% 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 (21% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.9% average weekly change). Major Estimate Revision • Aug 22
Consensus revenue estimates fall by 19% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥2.39b to CN¥1.94b. EPS estimate fell from CN¥1.70 to CN¥1.62 per share. Net income forecast to grow 35% next year vs 34% growth forecast for Biotechs industry in China. Consensus price target down from CN¥47.03 to CN¥39.37. Share price fell 20% to CN¥23.40 over the past week. Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥24.88, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 20x in the Biotechs industry in China. Total loss to shareholders of 69% over the past three years. Announcement • Jun 29
Changchun BCHT Biotechnology Co. to Report First Half, 2024 Results on Aug 16, 2024 Changchun BCHT Biotechnology Co. announced that they will report first half, 2024 results on Aug 16, 2024 Reported Earnings • Apr 20
First quarter 2024 earnings released: EPS: CN¥0.15 (vs CN¥0.04 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.15 (up from CN¥0.04 in 1Q 2023). Revenue: CN¥270.3m (up 51% from 1Q 2023). Net income: CN¥60.6m (up 230% from 1Q 2023). Profit margin: 22% (up from 10% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Biotechs industry in China. Announcement • Mar 29
Changchun BCHT Biotechnology Co. to Report Q1, 2024 Results on Apr 20, 2024 Changchun BCHT Biotechnology Co. announced that they will report Q1, 2024 results on Apr 20, 2024 Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥44.70, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 22x in the Biotechs industry in China. Total loss to shareholders of 20% over the past year. Announcement • Mar 20
Changchun BCHT Biotechnology Co., Annual General Meeting, Apr 10, 2024 Changchun BCHT Biotechnology Co., Annual General Meeting, Apr 10, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Changchun, Jilin China Reported Earnings • Feb 24
Full year 2023 earnings: EPS in line with expectations, revenues disappoint Full year 2023 results: EPS: CN¥1.21 (up from CN¥0.44 in FY 2022). Revenue: CN¥1.82b (up 70% from FY 2022). Net income: CN¥501.0m (up 176% from FY 2022). Profit margin: 28% (up from 17% in FY 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 28% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Biotechs industry in China. Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥54.93, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 20x in the Biotechs industry in China. Total loss to shareholders of 19% over the past year. Reported Earnings • Apr 18
First quarter 2023 earnings released: EPS: CN¥0.04 (vs CN¥0.04 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.04 (in line with 1Q 2022). Revenue: CN¥179.4m (up 30% from 1Q 2022). Net income: CN¥18.4m (up 6.1% from 1Q 2022). Profit margin: 10% (down from 13% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 35% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Biotechs industry in China. Reported Earnings • Feb 25
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥0.44 (down from CN¥0.62 in FY 2021). Revenue: CN¥1.07b (down 11% from FY 2021). Net income: CN¥181.6m (down 25% from FY 2021). Profit margin: 17% (down from 20% in FY 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 26%. Earnings per share (EPS) also missed analyst estimates by 51%. Revenue is forecast to grow 46% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Biotechs industry in China. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Bainian Fu was the last independent 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. Lack of board continuity. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.32 (vs CN¥0.23 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.32 (up from CN¥0.23 in 3Q 2021). Revenue: CN¥424.8m (up 17% from 3Q 2021). Net income: CN¥138.2m (up 46% from 3Q 2021). Profit margin: 33% (up from 26% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Biotechs industry in China. Reported Earnings • Apr 28
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CN¥0.04 (down from CN¥0.15 in 1Q 2021). Revenue: CN¥137.8m (down 44% from 1Q 2021). Net income: CN¥17.3m (down 69% from 1Q 2021). Profit margin: 13% (down from 22% in 1Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 7.7%. Earnings per share (EPS) also missed analyst estimates by 27%. Over the next year, revenue is forecast to grow 82%, compared to a 45% growth forecast for the industry in China. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥44.85, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 32x in the Biotechs industry in China. Reported Earnings • Feb 21
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥0.62 (down from CN¥1.14 in FY 2020). Revenue: CN¥1.20b (down 17% from FY 2020). Net income: CN¥243.6m (down 42% from FY 2020). Profit margin: 20% (down from 29% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 7.7%. Earnings per share (EPS) also missed analyst estimates by 27%. Over the next year, revenue is forecast to grow 68%, compared to a 39% growth forecast for the pharmaceuticals industry in China. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥57.45, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 34x in the Biotechs industry in China. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥86.00, the stock trades at a forward P/E ratio of 61x. Average forward P/E is 47x in the Biotechs industry in China.