Announcement • Jun 24
China Starch Holdings Limited Provides Group Earnings Guidance for the Five Months Period Ended 31 May 2026 China Starch Holdings Limited provided group earnings guidance for the five months period ended 31 May 2026. For the period, the Group expects to record a loss before taxation of approximately RMB 20 million as compared to a profit before taxation of RMB 267 million for the same period last year. In the meantime, the Group is also expected to record loss attributable to the Shareholders of approximately RMB 4 million as compared to profit attributable to Shareholders of RMB 137 million for the same period last year. The Group's business performance during the Period was affected by a combination of unfavourable market conditions. In the lysine segment, geopolitical disruptions continued to drive up export freight costs and constrain certain shipping routes, which caused 2026 export freight rates to remain significantly higher than that in the previous year. Consequentially, this resulted in an increase in overall landed costs weakened the competitiveness of Chinese-made lysine in overseas markets. Domestically, oversupply in the local lysine market and stagnant demand from the animal breeding sector continued to exert downward pressure on selling prices and sales volumes. The Group also faced persistent cost pressure. Corn kernel prices remained elevated during the Period, while finished goods prices did not adjust at a corresponding pace, resulting in profit margin compression. In addition to the abovementioned operational challenges, the industry environment for both lysine and cornstarch products has entered a prolonged phase of saturation and intensified oversupply. Although the Group maintains a leading position in the industry, the severity of the current cyclical downturn imposes significant impact on its profitability. The management expects such industry adjustment cycle will persist longer than historical market fluctuations. Reported Earnings • Apr 17
Full year 2025 earnings released: EPS: CN¥0.031 (vs CN¥0.081 in FY 2024) Full year 2025 results: EPS: CN¥0.031 (down from CN¥0.081 in FY 2024). Revenue: CN¥10.1b (down 12% from FY 2024). Net income: CN¥184.9m (down 62% from FY 2024). Profit margin: 1.8% (down from 4.2% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Mar 19
China Starch Holdings Limited announces Annual dividend, payable on June 11, 2026 China Starch Holdings Limited announced Annual dividend of HKD 0.0098 per share payable on June 11, 2026, ex-date on May 19, 2026 and record date on May 20, 2026. New Risk • Mar 19
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: 1.8% Last year net profit margin: 4.2% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (1.8% net profit margin). Reported Earnings • Mar 19
Full year 2025 earnings released: EPS: CN¥0.031 (vs CN¥0.081 in FY 2024) Full year 2025 results: EPS: CN¥0.031 (down from CN¥0.081 in FY 2024). Revenue: CN¥10.1b (down 12% from FY 2024). Net income: CN¥184.9m (down 62% from FY 2024). Profit margin: 1.8% (down from 4.2% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Mar 18
China Starch Holdings Limited, Annual General Meeting, May 12, 2026 China Starch Holdings Limited, Annual General Meeting, May 12, 2026. Announcement • Mar 07
China Starch Holdings Limited to Report Fiscal Year 2025 Results on Mar 18, 2026 China Starch Holdings Limited announced that they will report fiscal year 2025 results on Mar 18, 2026 Reported Earnings • Aug 22
First half 2025 earnings released: EPS: CN¥0.025 (vs CN¥0.036 in 1H 2024) First half 2025 results: EPS: CN¥0.025 (down from CN¥0.036 in 1H 2024). Revenue: CN¥5.11b (down 9.4% from 1H 2024). Net income: CN¥151.4m (down 30% from 1H 2024). Profit margin: 3.0% (down from 3.8% in 1H 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Aug 09
China Starch Holdings Limited to Report First Half, 2025 Results on Aug 20, 2025 China Starch Holdings Limited announced that they will report first half, 2025 results on Aug 20, 2025 Declared Dividend • Mar 21
Dividend increased to HK$0.0098 Dividend of HK$0.0098 is 42% higher than last year. Ex-date: 17th June 2025 Payment date: 16th July 2025 Dividend yield will be 4.6%, which is lower than the industry average of 5.7%. Sustainability & Growth Dividend is well covered by both earnings (11% earnings payout ratio) and cash flows (38% cash payout ratio). The dividend has increased by an average of 5.6% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 38% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 20
China Starch Holdings Limited announces Annual dividend, payable on July 16, 2025 China Starch Holdings Limited announced Annual dividend of HKD 0.0098 per share payable on July 16, 2025, ex-date on June 17, 2025 and record date on June 18, 2025. Reported Earnings • Mar 20
Full year 2024 earnings released: EPS: CN¥0.081 (vs CN¥0.018 in FY 2023) Full year 2024 results: EPS: CN¥0.081 (up from CN¥0.018 in FY 2023). Revenue: CN¥11.4b (down 3.2% from FY 2023). Net income: CN¥482.3m (up 347% from FY 2023). Profit margin: 4.2% (up from 0.9% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has remained flat. Announcement • Mar 20
China Starch Holdings Limited to Report Fiscal Year 2024 Results on Apr 11, 2025 China Starch Holdings Limited announced that they will report fiscal year 2024 results at 12:30 PM, China Standard Time on Apr 11, 2025 Announcement • Mar 19
China Starch Holdings Limited, Annual General Meeting, May 20, 2025 China Starch Holdings Limited, Annual General Meeting, May 20, 2025. Announcement • Mar 07
China Starch Holdings Limited to Report Fiscal Year 2024 Results on Mar 19, 2025 China Starch Holdings Limited announced that they will report fiscal year 2024 results on Mar 19, 2025 Buy Or Sell Opportunity • Feb 12
Now 45% overvalued after recent price rise Over the last 90 days, the stock has risen 43% to HK$0.25. The fair value is estimated to be HK$0.17, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 20%. Reported Earnings • Sep 18
First half 2024 earnings released: EPS: CN¥0.036 (vs CN¥0.006 loss in 1H 2023) First half 2024 results: EPS: CN¥0.036 (up from CN¥0.006 loss in 1H 2023). Revenue: CN¥5.65b (down 2.9% from 1H 2023). Net income: CN¥214.7m (up CN¥252.4m from 1H 2023). Profit margin: 3.8% (up from net loss in 1H 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 18
First half 2024 earnings released: EPS: CN¥0.036 (vs CN¥0.006 loss in 1H 2023) First half 2024 results: EPS: CN¥0.036 (up from CN¥0.006 loss in 1H 2023). Revenue: CN¥5.65b (down 2.9% from 1H 2023). Net income: CN¥214.7m (up CN¥252.4m from 1H 2023). Profit margin: 3.8% (up from net loss in 1H 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Aug 15
China Starch Holdings Limited Announces Change of Directors and Composition of Board Committees The board of directors of China Starch Holdings Limited announced that Mr. Yue Kwai Wa, Ken ("Mr. Yue") has resigned as an independent non-executive Director with effect from 15 August 2024 due to his other business engagements. Following Mr. Yue 's resignation as an independent non-executive Director, Mr. Yue has ceased to be the chairman of the audit committee of the Company (the "Audit Committee"), the remuneration committee of the Company (the "Remuneration Committee") and the nomination committee of the Company (the "Nomination Committee"). The Board also announce that Ms. Sze Tak On ("Ms. Sze") has been appointed as an independent non-executive Director, the chairman of the Audit Committee, and a member of the Remuneration Committee and the Nomination Committee with effect from 15 August 2024. Ms. Sze, aged 54, is the financial controller and company secretary of Century Legend (Holdings) Limited, a company whose shares are listed on the Main Board of the Stock Exchange responsible for overseeing financial reporting, treasury, internal control, risk management and compliance issues. She is also an independent non-executive director of A.Plus Group Holdings Limited and Prosperous Industrial (Holdings) Limited, companies whose shares are listed on the Main Board of the Stock Exchange. Ms. Sze holds a master's degree in Corporate Finance and has extensive experience in accounting, auditing and finance. Ms. Sze is an associate member of the Hong Kong Institute of Certified Public Accountants, a fellow member of the Association of Chartered Certified Accountants, a member of The Hong Kong Chartered Governance Institute, The Chartered Governance Institute and The Taxation Institute of Hong Kong. The Board further announces that, with effect from 15 August 2024, Professor Hua Qiang has been redesignated as the chairman of the Remuneration Committee and Mr. Sun Mingdao has been redesignated as the chairman of the Nomination Committee. Announcement • Aug 01
China Starch Holdings Limited to Report First Half, 2024 Results on Aug 14, 2024 China Starch Holdings Limited announced that they will report first half, 2024 results on Aug 14, 2024 Buy Or Sell Opportunity • Jul 19
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 31% to HK$0.20. The fair value is estimated to be HK$0.16, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.9% over the last 3 years. Earnings per share has declined by 18%. Buy Or Sell Opportunity • Jul 04
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 25% to HK$0.19. The fair value is estimated to be HK$0.16, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.9% over the last 3 years. Earnings per share has declined by 18%. Buy Or Sell Opportunity • Jun 05
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 49% to HK$0.19. The fair value is estimated to be HK$0.16, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.9% over the last 3 years. Earnings per share has declined by 18%. Buy Or Sell Opportunity • May 13
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 50% to HK$0.19. The fair value is estimated to be HK$0.16, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.9% over the last 3 years. Earnings per share has declined by 18%. Announcement • Mar 21
China Starch Holdings Limited, Annual General Meeting, May 21, 2024 China Starch Holdings Limited, Annual General Meeting, May 21, 2024. Reported Earnings • Mar 21
Full year 2023 earnings released Full year 2023 results: Revenue: CN¥11.8b (down 1.3% from FY 2022). Net income: CN¥108.0m (down 69% from FY 2022). Profit margin: 0.9% (down from 2.9% in FY 2022). Announcement • Mar 21
China Starch Holdings Limited Proposes Final Ordinary Dividend for the Year Ended 31 December 2023, Payable on 17 July 2024 China Starch Holdings Limited proposed final ordinary dividend of HKD 0.0069 per share for the year ended 31 December 2023. Date of shareholders' approval 21 May 2024; Ex-dividend date is 11 June 2024; Record date is 14 June 2024; Payment date is 17 July 2024. Announcement • Mar 09
China Starch Holdings Limited to Report Fiscal Year 2023 Results on Mar 20, 2024 China Starch Holdings Limited announced that they will report fiscal year 2023 results on Mar 20, 2024 Announcement • Feb 02
China Starch Holdings Limited Provides Consolidated Earnings Guidance for the Year Ended December 31, 2023 China Starch Holdings Limited provided consolidated earnings guidance for the year ended December 31, 2023. The board of directors of the company informed its shareholders and potential investors that, based on the preliminary review of the unaudited consolidated management accounts of the Group for the year ended 31 December 2023 and the information currently available to the Board, the Group is expected to record a substantial decline in profit before taxation by approximately 70%, as compared to the profit before taxation of approximately RMB 621 million for the year ended 31 December 2022. New Risk • Oct 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: HK$767.0m (US$97.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (0.4% net profit margin). Market cap is less than US$100m (HK$767.0m market cap, or US$97.9m). Reported Earnings • Sep 27
First half 2023 earnings released: CN¥0.006 loss per share (vs CN¥0.044 profit in 1H 2022) First half 2023 results: CN¥0.006 loss per share (down from CN¥0.044 profit in 1H 2022). Revenue: CN¥5.81b (flat on 1H 2022). Net loss: CN¥37.8m (down 114% from profit in 1H 2022). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. New Risk • Aug 13
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: 0.4% Last year net profit margin: 3.9% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (0.4% net profit margin). Reported Earnings • Aug 13
First half 2023 earnings released: CN¥0.006 loss per share (vs CN¥0.044 profit in 1H 2022) First half 2023 results: CN¥0.006 loss per share (down from CN¥0.044 profit in 1H 2022). Revenue: CN¥5.81b (flat on 1H 2022). Net loss: CN¥37.8m (down 114% from profit in 1H 2022). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Aug 03
China Starch Holdings Limited to Report First Half, 2023 Results on Aug 11, 2023 China Starch Holdings Limited announced that they will report first half, 2023 results on Aug 11, 2023 Announcement • Jun 15
China Starch Holdings Limited Provides Unaudited Consolidated Earnings Guidance for the Five Months Ended 31 May 2023 China Starch Holdings Limited provided unaudited consolidated earnings guidance for the five months ended 31 May 2023. For the five months ended 31 May 2023, company expected to record a loss before taxation of approximately RMB 32 million. Reported Earnings • Mar 23
Full year 2022 earnings released: EPS: CN¥0.059 (vs CN¥0.058 in FY 2021) Full year 2022 results: EPS: CN¥0.059 (up from CN¥0.058 in FY 2021). Revenue: CN¥11.9b (up 2.7% from FY 2021). Net income: CN¥352.0m (up 1.9% from FY 2021). Profit margin: 2.9% (in line with FY 2021). 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 27% per year, which means it is significantly lagging earnings growth. 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. 1 experienced director. 6 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Qiang Hua was the last independent director to join the board, commencing their role in 2016. 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 • Aug 27
First half 2022 earnings released: EPS: CN¥0.044 (vs CN¥0.025 in 1H 2021) First half 2022 results: EPS: CN¥0.044 (up from CN¥0.025 in 1H 2021). Revenue: CN¥5.81b (up 2.0% from 1H 2021). Net income: CN¥262.3m (up 76% from 1H 2021). Profit margin: 4.5% (up from 2.6% in 1H 2021). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Announcement • Aug 17
China Starch Holdings Limited to Report First Half, 2022 Results on Aug 26, 2022 China Starch Holdings Limited announced that they will report first half, 2022 results on Aug 26, 2022 Announcement • Jul 27
China Starch Holdings Limited Provides Earnings Guidance for the Six Months Ended June 30, 2022 China Starch Holdings Limited provided earnings guidance for the six months ended June 30, 2022. FOr the six months, the company expected to record a substantial growth in profit before taxation by not less than 100% as compared to the corresponding period in 2021. The Board believes that the substantial increase in the Group's profit before taxation for the Period is mainly attributable to the following factors: (i) The strong market demand for various products, especially lysine products; (ii) The increase in the selling prices of some of the Group's products during the Period to compensate the increase in the Group 's costs in raw materials, as a result of the expected shortage of commodity supply; and (iii) The reduction in the Group's production costs during the Period, in light of the Group's use of more automated production machinery. Although the Group is expected to record a satisfactory result for the Period, the Board has a cautious business outlook on the third quarter of 2022. The market momentum has started to vanish since June 2022. The management of the Company will continue to manage the inventory level and working capital effectively. 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. 1 experienced director. 6 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Qiang Hua was the last independent director to join the board, commencing their role in 2016. 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 • Apr 16
Full year 2021 earnings released: EPS: CN¥0.058 (vs CN¥0.032 in FY 2020) Full year 2021 results: EPS: CN¥0.058 (up from CN¥0.032 in FY 2020). Revenue: CN¥11.6b (up 31% from FY 2020). Net income: CN¥345.6m (up 82% from FY 2020). Profit margin: 3.0% (up from 2.1% in FY 2020). The increase in margin 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 remained flat, which means it is significantly lagging earnings. Buying Opportunity • Feb 28
Now 21% undervalued Over the last 90 days, the stock is up 2.2%. The fair value is estimated to be CN¥0.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% per annum over the last 3 years. Earnings per share has declined by 9.1% per annum over the last 3 years. Buying Opportunity • Jan 28
Now 22% undervalued Over the last 90 days, the stock is up 5.9%. The fair value is estimated to be CN¥0.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% per annum over the last 3 years. Earnings per share has declined by 9.1% per annum over the last 3 years. Reported Earnings • Aug 23
First half 2021 earnings released: EPS CN¥0.025 (vs CN¥0.017 in 1H 2020) The company reported a solid first half result with improved earnings and revenues, although profit margins were weaker. First half 2021 results: Revenue: CN¥5.70b (up 48% from 1H 2020). Net income: CN¥149.2m (up 45% from 1H 2020). Profit margin: 2.6% (down from 2.7% in 1H 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 18
Full year 2020 earnings released: EPS CN¥0.032 (vs CN¥0.016 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥8.89b (up 32% from FY 2019). Net income: CN¥190.1m (up 96% from FY 2019). Profit margin: 2.1% (up from 1.4% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Announcement • Mar 20
China Starch Holdings Limited, Annual General Meeting, May 18, 2021 China Starch Holdings Limited, Annual General Meeting, May 18, 2021. Agenda: To consider final dividend. Reported Earnings • Mar 20
Full year 2020 earnings released: EPS CN¥0.032 (vs CN¥0.016 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥8.89b (up 32% from FY 2019). Net income: CN¥190.1m (up 96% from FY 2019). Profit margin: 2.1% (up from 1.4% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • Mar 10
China Starch Holdings Limited to Report Fiscal Year 2020 Results on Mar 19, 2021 China Starch Holdings Limited announced that they will report fiscal year 2020 results on Mar 19, 2021 Is New 90 Day High Low • Feb 19
New 90-day high: HK$0.22 The company is up 71% from its price of HK$0.13 on 20 November 2020. The Hong Kong market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Food industry, which is up 16% over the same period. Announcement • Aug 15
China Starch Holdings Limited to Report First Half, 2020 Results on Aug 26, 2020 China Starch Holdings Limited announced that they will report first half, 2020 results on Aug 26, 2020 
