New Risk • May 20
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 41% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Apr 29
Full year 2025 earnings released: EPS: CN¥0.09 (vs CN¥0.04 in FY 2024) Full year 2025 results: EPS: CN¥0.09 (up from CN¥0.04 in FY 2024). Revenue: CN¥355.1m (up 5.6% from FY 2024). Net income: CN¥53.1m (up 125% from FY 2024). Profit margin: 15% (up from 7.0% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Apr 29
Jiangsu Dagang Co., Ltd., Annual General Meeting, May 20, 2026 Jiangsu Dagang Co., Ltd., Annual General Meeting, May 20, 2026, at 14:30 China Standard Time. Location: 11F, No. 401, Gangnan Road, Zhenjiang Economic Development Zone, Jiangsu China Announcement • Mar 31
Jiangsu Dagang Co., Ltd. to Report Q1, 2026 Results on Apr 29, 2026 Jiangsu Dagang Co., Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026 Announcement • Dec 31
Jiangsu Dagang Co., Ltd. to Report Fiscal Year 2025 Results on Apr 29, 2026 Jiangsu Dagang Co., Ltd. announced that they will report fiscal year 2025 results on Apr 29, 2026 Reported Earnings • Oct 28
Third quarter 2025 earnings released: EPS: CN¥0.05 (vs CN¥0.019 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.05 (up from CN¥0.019 in 3Q 2024). Revenue: CN¥109.6m (up 17% from 3Q 2024). Net income: CN¥28.7m (up 214% from 3Q 2024). Profit margin: 26% (up from 9.7% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
Jiangsu Dagang Co., Ltd. to Report Q3, 2025 Results on Oct 28, 2025 Jiangsu Dagang Co., Ltd. announced that they will report Q3, 2025 results on Oct 28, 2025 Announcement • Jul 02
Jiangsu Dagang Co., Ltd. to Report First Half, 2025 Results on Aug 28, 2025 Jiangsu Dagang Co., Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Announcement • Jun 05
Zhenjiang Export Processing Zone Urban Investment Materials Development Co., Ltd. completed the acquisition of Zhenjiang Export Processing Zone Gangcheng International Trade Co., Ltd. from Jiangsu Dagang Co., Ltd. (SZSE:002077). Zhenjiang Export Processing Zone Urban Investment Materials Development Co., Ltd. agreed to acquire Zhenjiang Export Processing Zone Gangcheng International Trade Co., Ltd. from Jiangsu Dagang Co., Ltd. (SZSE:002077) for CNY 1.4 million on April 16, 2025. A cash consideration of CNY 1.45 million will be paid by Zhenjiang Export Processing Zone Urban Investment Materials Development Co., Ltd. As part of consideration, CNY 1.45 million is paid towards common equity of Zhenjiang Export Processing Zone Gangcheng International Trade Co., Ltd.
As of February 28, 2025, Zhenjiang Export Processing Zone Gangcheng International Trade Co., Ltd. reported total assets of CNY 3.45 million and total common equity of CNY 1.45 million.
The transaction is subject to approval of merger agreement by target board. The deal has been approved by the board.
Zhenjiang Export Processing Zone Urban Investment Materials Development Co., Ltd. completed the acquisition of Zhenjiang Export Processing Zone Gangcheng International Trade Co., Ltd. from Jiangsu Dagang Co., Ltd. (SZSE:002077) on June 3, 2025. Zhenjiang Export Processing Zone Gangcheng International Trade Co., Ltd. completed the industrial and commercial change registration and obtained the approval of the Administrative Approval Bureau of Zhenjiang Economic and Technological Development Zone. New Risk • May 11
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 7.0% Last year net profit margin: 19% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. 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 (7.0% net profit margin). Reported Earnings • Apr 27
First quarter 2025 earnings released: EPS: CN¥0.03 (vs CN¥0.03 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.03 (in line with 1Q 2024). Revenue: CN¥65.4m (down 12% from 1Q 2024). Net income: CN¥15.6m (up 2.6% from 1Q 2024). Profit margin: 24% (up from 21% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has increased by 38% per year, which means it is well ahead of earnings. Announcement • Apr 26
Jiangsu Dagang Co., Ltd., Annual General Meeting, May 19, 2025 Jiangsu Dagang Co., Ltd., Annual General Meeting, May 19, 2025, at 14:30 China Standard Time. Location: 11F, No. 401, Gangnan Road, Zhenjiang New District, Jiangsu China Announcement • Mar 31
Jiangsu Dagang Co., Ltd. to Report Q1, 2025 Results on Apr 26, 2025 Jiangsu Dagang Co., Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 New Risk • Jan 12
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Share price has been volatile over the past 3 months (9.4% average weekly change). New Risk • Jan 10
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 9.5% 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. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (9.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.4% net profit margin). Announcement • Dec 31
Jiangsu Dagang Co., Ltd. to Report Fiscal Year 2024 Results on Apr 26, 2025 Jiangsu Dagang Co., Ltd. announced that they will report fiscal year 2024 results on Apr 26, 2025 Buy Or Sell Opportunity • Dec 25
Now 23% undervalued Over the last 90 days, the stock has risen 47% to CN¥17.28. The fair value is estimated to be CN¥22.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 23% over the last 3 years. Earnings per share has declined by 43%. Buy Or Sell Opportunity • Nov 14
Now 23% undervalued Over the last 90 days, the stock has risen 41% to CN¥16.35. The fair value is estimated to be CN¥21.34, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 23% over the last 3 years. Earnings per share has declined by 43%. Announcement • Oct 30
Jiangsu Dagang Co., Ltd. Announces Board Appointments Jiangsu Dagang Co., Ltd. announces election of non-independent directors, An Mingliang, non-independent director, Xue Qin, non-independent director, and Li Weibo, non-independent director. The company also announced the election of independent directors: Zhou Hongbing, independent director, Xie Qingjie, independent director, Zhang Hua, independent director and He Di, independent director, at the EGM held on October 28, 2024. Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.019 (vs CN¥0.029 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.019 (down from CN¥0.029 in 3Q 2023). Revenue: CN¥94.1m (down 26% from 3Q 2023). Net income: CN¥9.15m (down 47% from 3Q 2023). Profit margin: 9.7% (down from 14% in 3Q 2023). 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 31% per year, which means it is well ahead of earnings. Announcement • Sep 30
Jiangsu Dagang Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Jiangsu Dagang Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: CN¥0.021 (vs CN¥0.038 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.021 (down from CN¥0.038 in 2Q 2023). Revenue: CN¥71.4m (down 18% from 2Q 2023). Net income: CN¥15.3m (down 28% from 2Q 2023). Profit margin: 21% (down from 24% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Jun 29
Jiangsu Dagang Co., Ltd. to Report First Half, 2024 Results on Aug 28, 2024 Jiangsu Dagang Co., Ltd. announced that they will report first half, 2024 results on Aug 28, 2024 Announcement • Apr 29
Jiangsu Dagang Co., Ltd., Annual General Meeting, May 20, 2024 Jiangsu Dagang Co., Ltd., Annual General Meeting, May 20, 2024, at 14:30 China Standard Time. Location: 11F, No. 401, Gangnan Road, Zhenjiang New District, Jiangsu China Reported Earnings • Apr 27
First quarter 2024 earnings released: EPS: CN¥0.03 (vs CN¥0.13 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.03 (down from CN¥0.13 in 1Q 2023). Revenue: CN¥74.2m (down 39% from 1Q 2023). Net income: CN¥15.2m (down 80% from 1Q 2023). Profit margin: 21% (down from 63% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 29% per year, which means it is well ahead of earnings. Announcement • Mar 30
Jiangsu Dagang Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Jiangsu Dagang Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Announcement • Dec 29
Jiangsu Dagang Co., Ltd. to Report Fiscal Year 2023 Results on Apr 27, 2024 Jiangsu Dagang Co., Ltd. announced that they will report fiscal year 2023 results on Apr 27, 2024 Board Change • Dec 08
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Dan Niu was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: CN¥0.029 (vs CN¥0.002 loss in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.029 (up from CN¥0.002 loss in 3Q 2022). Revenue: CN¥126.3m (down 16% from 3Q 2022). Net income: CN¥17.4m (up CN¥18.9m from 3Q 2022). Profit margin: 14% (up from net loss in 3Q 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: CN¥0.038 (vs CN¥0.053 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.038 (down from CN¥0.053 in 2Q 2022). Revenue: CN¥87.2m (down 29% from 2Q 2022). Net income: CN¥21.3m (down 16% from 2Q 2022). Profit margin: 24% (up from 21% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: CN¥0.13 (vs CN¥0.03 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.13 (up from CN¥0.03 in 1Q 2022). Revenue: CN¥121.9m (down 6.4% from 1Q 2022). Net income: CN¥76.6m (up 301% from 1Q 2022). Profit margin: 63% (up from 15% in 1Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 28
Third quarter 2022 earnings released: CN¥0.002 loss per share (vs CN¥0.12 profit in 3Q 2021) Third quarter 2022 results: CN¥0.002 loss per share (down from CN¥0.12 profit in 3Q 2021). Revenue: CN¥150.7m (down 28% from 3Q 2021). Net loss: CN¥1.55m (down 102% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: CN¥0.053 (vs CN¥0.21 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.053 (down from CN¥0.21 in 2Q 2021). Revenue: CN¥122.3m (down 22% from 2Q 2021). Net income: CN¥25.3m (down 72% from 2Q 2021). Profit margin: 21% (down from 57% in 2Q 2021). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 24
Investor sentiment deteriorated over the past week After last week's 20% share price decline to CN¥16.51, the stock trades at a trailing P/E ratio of 64.7x. Average trailing P/E is 21x in the Real Estate industry in China. Total returns to shareholders of 175% over the past three years. Valuation Update With 7 Day Price Move • Aug 08
Investor sentiment improved over the past week After last week's 46% share price gain to CN¥15.17, the stock trades at a trailing P/E ratio of 59.4x. Average trailing P/E is 20x in the Real Estate industry in China. Total returns to shareholders of 162% over the past three years. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥6.66, the stock trades at a trailing P/E ratio of 26.1x. Average trailing P/E is 18x in the Real Estate industry in China. Total returns to shareholders of 6.1% over the past three years. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥7.22, the stock trades at a trailing P/E ratio of 28.3x. Average trailing P/E is 20x in the Real Estate industry in China. Total returns to shareholders of 1.5% over the past three years. Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: CN¥0.03 (vs CN¥0.01 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.03 (up from CN¥0.01 in 1Q 2021). Revenue: CN¥130.3m (up 1.5% from 1Q 2021). Net income: CN¥19.1m (up 170% from 1Q 2021). Profit margin: 15% (up from 5.5% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Board Change • Apr 27
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. 5 experienced directors. No highly experienced directors. Independent Director Xiufeng Yue is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.12 (vs CN¥0.13 in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥208.1m (up 43% from 3Q 2020). Net income: CN¥69.5m (down 6.1% from 3Q 2020). Profit margin: 33% (down from 51% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS CN¥0.21 (vs CN¥0.035 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: CN¥156.8m (down 11% from 2Q 2020). Net income: CN¥89.1m (up 233% from 2Q 2020). Profit margin: 57% (up from 15% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improved over the past week After last week's 25% share price gain to CN¥8.33, the stock trades at a trailing P/E ratio of 52.2x. Average trailing P/E is 16x in the Real Estate industry in China. Total loss to shareholders of 10% over the past three years. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS CN¥0.01 (vs CN¥0.01 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: CN¥128.4m (down 38% from 1Q 2020). Net income: CN¥7.09m (up 39% from 1Q 2020). Profit margin: 5.5% (up from 2.5% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 29
New 90-day low: CN¥5.55 The company is down 16% from its price of CN¥6.63 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. Is New 90 Day High Low • Jan 06
New 90-day low: CN¥6.11 The company is down 10.0% from its price of CN¥6.80 on 30 September 2020. The Chinese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 8.0% over the same period. Is New 90 Day High Low • Dec 03
New 90-day high: CN¥6.95 The company is up 5.0% from its price of CN¥6.61 on 04 September 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 3.0% over the same period. Reported Earnings • Oct 28
Third quarter earnings released Over the last 12 months the company has reported total losses of CN¥82.7m, with losses narrowing by 89% from the prior year. Total revenue was CN¥797.7m over the last 12 months, down 45% from the prior year. Announcement • Oct 20
Jiangsu Dagang Co., Ltd. to Report Q3, 2020 Results on Oct 27, 2020 Jiangsu Dagang Co., Ltd. announced that they will report Q3, 2020 results on Oct 27, 2020 Announcement • Jul 17
Jiangsu Dagang Co., Ltd. (SZSE:002077) acquired 30% stake in Jiangsu Hanrui Jin Gang Financing Lease Co., Ltd. and Jiangsu Hanrui Financial Holding Financing Lease Co., Ltd. from Jiangsu Hanrui Investment Holdings Company Limited for CNY 1.3 billion. Jiangsu Dagang Co., Ltd. (SZSE:002077) agreed to acquire 30% stake in Jiangsu Hanrui Jin Gang Financing Lease Co., Ltd. and Jiangsu Hanrui Financial Holding Financing Lease Co., Ltd. from Jiangsu Hanrui Investment Holdings Company Limited for CNY 1.3 billion on June 22, 2020. On July 8, 2020, an agreement is signed. The consideration comprises cash of CNY 225.9 million and accounts receivable of CNY 1.1 billion. On July 22, 2020, the Board of Directors of Jiangsu Dagang Co., Ltd. and on July 8, 2020, the shareholders of Jiangsu Dagang Co., Ltd. approved the transaction.
Jiangsu Dagang Co., Ltd. (SZSE:002077) completed the acquisition of 30% stake in Jiangsu Hanrui Jin Gang Financing Lease Co., Ltd. and Jiangsu Hanrui Financial Holding Financing Lease Co., Ltd. from Jiangsu Hanrui Investment Holdings Company Limited on July 9, 2020. 
