Upcoming Dividend • May 12
Upcoming dividend of HK$0.10 per share Eligible shareholders must have bought the stock before 19 May 2026. Payment date: 09 June 2026. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Hong Kong dividend payers (6.7%). Lower than average of industry peers (4.8%). Reported Earnings • Apr 22
Full year 2025 earnings released: EPS: CN¥0.30 (vs CN¥0.35 in FY 2024) Full year 2025 results: EPS: CN¥0.30 (down from CN¥0.35 in FY 2024). Revenue: CN¥18.0b (down 13% from FY 2024). Net income: CN¥643.2m (down 14% from FY 2024). Profit margin: 3.6% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 18
Full year 2025 earnings released: EPS: CN¥0.30 (vs CN¥0.35 in FY 2024) Full year 2025 results: EPS: CN¥0.30 (down from CN¥0.35 in FY 2024). Revenue: CN¥18.0b (down 13% from FY 2024). Net income: CN¥643.2m (down 14% from FY 2024). Profit margin: 3.6% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Mar 17
Billion Industrial Holdings Limited announces Annual dividend, payable on June 09, 2026 Billion Industrial Holdings Limited announced Annual dividend of HKD 0.1000 per share payable on June 09, 2026, ex-date on May 19, 2026 and record date on May 20, 2026. Announcement • Mar 16
Billion Industrial Holdings Limited, Annual General Meeting, May 15, 2026 Billion Industrial Holdings Limited, Annual General Meeting, May 15, 2026. Announcement • Mar 05
Billion Industrial Holdings Limited to Report Fiscal Year 2025 Results on Mar 16, 2026 Billion Industrial Holdings Limited announced that they will report fiscal year 2025 results on Mar 16, 2026 Board Change • Aug 18
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. 4 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Lead Independent Non-Executive Director Wai Ming Yu was the last independent director to join the board, commencing their role in 2022. 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 18
First half 2025 earnings released: EPS: CN¥0.18 (vs CN¥0.15 in 1H 2024) First half 2025 results: EPS: CN¥0.18 (up from CN¥0.15 in 1H 2024). Revenue: CN¥9.48b (down 11% from 1H 2024). Net income: CN¥376.7m (up 15% from 1H 2024). Profit margin: 4.0% (up from 3.1% in 1H 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 17% 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 17
First half 2025 earnings released: EPS: CN¥0.18 (vs CN¥0.15 in 1H 2024) First half 2025 results: EPS: CN¥0.18 (up from CN¥0.15 in 1H 2024). Revenue: CN¥9.48b (down 11% from 1H 2024). Net income: CN¥376.7m (up 15% from 1H 2024). Profit margin: 4.0% (up from 3.1% in 1H 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 17% 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. Announcement • Aug 04
Billion Industrial Holdings Limited to Report Q2, 2025 Results on Aug 15, 2025 Billion Industrial Holdings Limited announced that they will report Q2, 2025 results on Aug 15, 2025 Announcement • Jun 30
Billion Industrial Holdings Limited Appoints Shi Haiyan as an Executive Director and Member of the Nomination Committee, Effective 30 June 2025 The board of directors of Billion Industrial Holdings Limited announced that Ms. Shi Haiyan ("Ms. Shi") will be appointed as an executive director of the Company and a member of the nomination committee of the Company (the "Nomination Committee") with effect from 30 June 2025. Ms. Shi Haiyan, aged 39, has over 16 years of experience in the textile industry, with more than 9 years specifically focused on polyester filament yarns industry. From March 2009 to July 2015, Ms. Shi served as a sales manager at Jinjiang Lishan Garment Co. Ltd. In September 2015, she joined the Group and has since served as the deputy manager of the quality management department at Fujian Billion Polymerization Fiber Technology Industrial Co. Ltd., a wholly-owned subsidiary of the Group. She is responsible for overseeing the company's quality management system and ensuring that various departments operate in compliance with established standards and procedures. Ms. Shi's duties include identifying areas for improvement, developing and implementing rectification plans, and monitoring the progress and effectiveness of these initiatives. She also plays a key role in maintaining and updating the company's quality management system documentation and supervising the execution of technological processes. Ms. Shi served as the executive director of the Company from December 2024 to May 2025. Ms. Shi graduated from Jiangnan University with a college degree majoring in Business Administration in January 2020. Announcement • Apr 17
Billion Industrial Holdings Limited, Annual General Meeting, May 23, 2025 Billion Industrial Holdings Limited, Annual General Meeting, May 23, 2025, at 15:30 China Standard Time. Location: unit 1501, office tower, convention plaza, no. 1 harbour road, wanchai, Hong Kong Reported Earnings • Mar 22
Full year 2024 earnings released: EPS: CN¥0.35 (vs CN¥0.17 in FY 2023) Full year 2024 results: EPS: CN¥0.35 (up from CN¥0.17 in FY 2023). Revenue: CN¥20.6b (up 16% from FY 2023). Net income: CN¥747.9m (up 112% from FY 2023). Profit margin: 3.6% (up from 2.0% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 52% 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. Announcement • Mar 21
Billion Industrial Holdings Limited Announces Board and Committee Changes The board of directors of Billion Industrial Holdings Limited announced that Ms. Shi Haiyan ("Ms. Shi"), the current executive director of the Company, and Mr. Lin Jian Ming ("Mr. Lin"), the current independent non- executive director of the Company, have been appointed as a member of the nomination committee of the Company and Mr. Yu Wai Ming ("Mr. Yu"), the current independent non-executive director of the Company, has been designated as lead independent non-executive director of the Company with effect from 24 March 2025. Mr. Lin Jian Ming, aged 61, was appointed as an independent non-executive Director on 18 May 2019. Prior to that, he served as an independent non-executive Director from 31 March 2013 to 27 December 2018 and a member of both the audit committee and the nomination committee of the Board from 19 March 2014 to 27 December 2018. Mr. Lin has many years of experience in education and research. He was a graduate of Huaqiao University. He was also a visiting scholar of the Chinese University of Hong Kong in 1995. He also received a doctorate degree from the Tianjin University in 2002. Mr. Lin is a professor and doctorial tutor of the Department of Materials Science and Engineering of Huaqiao University, and a director and researcher of the Institute of Materials Physical Chemistry of Huaqiao University. He is also a director of the Optical Society of Fujian, a director of the Fujian Chemical Society, and a deputy executive director of the Chemistry and Chemical Engineering Society of Quanzhou . He received the Youth Science and Technology Award* in Quanzhou in 2006. Mr. Yu Wai Ming, aged 40, was appointed as an independent non-executive Director on 11 January 2022. He received a bachelor's degree in Business Administration (Accounting) from The Hong Kong University of Science and Technology in 2006. Mr. Yu is a fellow member of the Hong Kong Institute of Certified Public Accountants. He has over 14 years of experience in professional accounting and corporate consultancy services. Particularly, he joined KPMG in July 2006. He was transferred to KPMG Huazhen LLP in November 2010. He was a senior manager at the time of leaving KPMG Huazhen LLP in April 2016. He was the investment director of Zhangzhou Hengrun Investment Management Co. Ltd. from May 2016 to February 2018. In March 2018, he conducted business under his own name as YU Wai Ming Certified Public Accountant. In addition, he is currently the executive director of Boer Power Holdings Limited (a company listed on the Stock Exchange, stock code: 1685). Lead independent non-executive director is not an executive position in the Company and does not have any management role in the Group. After the above designation, Mr. Yu will continue to serve as an independent non-executive director of the Company, the chairman of the remuneration committee and audit committee of the Company, and a member of the nomination committee of the Company. Following the appointment of Ms. Shi, the nomination committee of the Company has one director of a different gender. The above appointment and designation are implemented in response to the amended Corporate Governance Code and the Listing Rules which will come into effect on 1 July 2025. Good corporate governance plays a significant role in the overall performance of the company and the Board believes that the implementation of such changes could strengthen the effectiveness and diversity of the Board and further enhance good corporate governance practice of the Company as a whole. Announcement • Mar 06
Billion Industrial Holdings Limited to Report Fiscal Year 2024 Results on Mar 21, 2025 Billion Industrial Holdings Limited announced that they will report fiscal year 2024 results on Mar 21, 2025 Board Change • Jan 29
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. 4 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Wai Ming Yu was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Jan 27
Billion Industrial Holdings Limited Provides Earnings Guidance for the Year Ended December 31, 2024 Billion Industrial Holdings Limited provided earnings guidance for the year ended December 31, 2024. For the year, the Company expected that it may record a significant increase in the profit attributable to owners of the Company for the year ended 31 December 2024 by not more than approximately 120% as compared to the year ended 31 December 2023. Such increase was primarily attributable to the increase in total sales volume of polyester filament yarns and polyester products for the year ended 31 December 2024 as compared to the year ended 31 December 2023, resulting in a significant increase in our total revenue. Board Change • Jan 08
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. 4 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Wai Ming Yu was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jan 03
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. 4 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Wai Ming Yu was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Dec 30
Billion Industrial Holdings Limited Appoints Shi Haiyan as Executive Director, Effect from 31 December 2024 The board of directors of Billion Industrial Holdings Limited announced that Ms. Shi Haiyan ("Ms. Shi") will be appointed as an executive director of the Company with effect from 31 December 2024. Ms. Shi Haiyan, aged 39, has over 15 years of experience in the textile industry, with more than 9 years specifically focused on polyester filament yarns industry. From March 2009 to July 2015, Ms. Shi served as a sales manager at Jinjiang Lishan Garment Co. Ltd. . In September 2015, she joined the Group and has since served as the deputy manager of the quality management department at Fujian Billion Polymerization Fiber Technology Industrial Co. Ltd., a wholly-owned subsidiary of the Group. She is responsible for overseeing the company's quality management system and ensuring that various departments operate in compliance with established standards and procedures. Ms. Shi's duties include identifying areas for improvement, developing and implementing rectification plans, and monitoring the progress and effectiveness of these initiatives. She also plays a key role in maintaining and updating the company's quality management system documentation and supervising the execution of technological processes. Ms. Shi graduated from Jiangnan University with a college degree majoring in Business Administration in January 2020. Reported Earnings • Aug 28
First half 2024 earnings released: EPS: CN¥0.15 (vs CN¥0.095 in 1H 2023) First half 2024 results: EPS: CN¥0.15 (up from CN¥0.095 in 1H 2023). Revenue: CN¥10.6b (up 42% from 1H 2023). Net income: CN¥327.5m (up 62% from 1H 2023). Profit margin: 3.1% (up from 2.7% in 1H 2023). The increase in margin was driven by higher revenue. Announcement • Aug 07
Billion Industrial Holdings Limited to Report Q2, 2024 Results on Aug 26, 2024 Billion Industrial Holdings Limited announced that they will report Q2, 2024 results on Aug 26, 2024 Announcement • Mar 23
Billion Industrial Holdings Limited, Annual General Meeting, May 27, 2024 Billion Industrial Holdings Limited, Annual General Meeting, May 27, 2024. Reported Earnings • Mar 23
Full year 2023 earnings released: EPS: CN¥0.17 (vs CN¥0.31 in FY 2022) Full year 2023 results: EPS: CN¥0.17 (down from CN¥0.31 in FY 2022). Revenue: CN¥17.8b (up 14% from FY 2022). Net income: CN¥353.4m (down 46% from FY 2022). Profit margin: 2.0% (down from 4.2% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Mar 09
Billion Industrial Holdings Limited to Report Fiscal Year 2023 Results on Mar 22, 2024 Billion Industrial Holdings Limited announced that they will report fiscal year 2023 results on Mar 22, 2024 New Risk • Sep 17
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (24% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (1.1% net profit margin). Reported Earnings • Aug 23
First half 2023 earnings released: EPS: CN¥0.095 (vs CN¥0.32 in 1H 2022) First half 2023 results: EPS: CN¥0.095 (down from CN¥0.32 in 1H 2022). Revenue: CN¥7.50b (down 7.4% from 1H 2022). Net income: CN¥201.7m (down 71% from 1H 2022). Profit margin: 2.7% (down from 8.5% in 1H 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 4% per year. Announcement • Aug 12
Billion Industrial Holdings Limited Provides Consolidated Earnings Guidance for the Six Months Ended June 30, 2023 Billion Industrial Holdings Limited provided consolidated earnings guidance for the six months ended June 30, 2023. The board of directors of the company informed the shareholders and potential investors of the Company that, based on a preliminary assessment by the management of the Group on the unaudited consolidated management accounts of the Group for the six months ended 30 June 2023, the company expected that it may record a significant decline in the profit attributable to owners of the company for the six months ended 30 June 2023 by not more than approximately 71% as compared to the same period in 2022. Such decline was primarily attributable to decrease in gross profit margin owing to the combined effect of the decrease in sales unit price and the increase in the cost of sales. Announcement • Aug 11
Billion Industrial Holdings Limited to Report First Half, 2023 Results on Aug 22, 2023 Billion Industrial Holdings Limited announced that they will report first half, 2023 results on Aug 22, 2023 Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: CN¥0.31 (vs CN¥0.83 in FY 2021) Full year 2022 results: EPS: CN¥0.31 (down from CN¥0.83 in FY 2021). Revenue: CN¥15.6b (up 9.3% from FY 2021). Net income: CN¥655.8m (down 63% from FY 2021). Profit margin: 4.2% (down from 12% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Feb 16
Billion Industrial Holdings Limited Provides Preliminary Unaudited Consolidated Group Earnings Guidance for the Year Ended 31 December 2022 Billion Industrial Holdings Limited provided preliminary unaudited consolidated group earnings guidance for the year ended 31 December 2022. For the year, the group expects that it may record a significant decline in the profit attributable to owners of the Company by approximately not more than 66% as compared to the year ended 31 December 2021. Such decline was primarily attributable to decrease in gross profit margin owing to the combined effect of the decrease in sales unit price and the increase in the cost of sales. Reported Earnings • Oct 03
First half 2022 earnings released: EPS: CN¥0.32 (vs CN¥0.40 in 1H 2021) First half 2022 results: EPS: CN¥0.32 (down from CN¥0.40 in 1H 2021). Revenue: CN¥8.10b (up 25% from 1H 2021). Net income: CN¥686.4m (down 18% from 1H 2021). Profit margin: 8.5% (down from 13% in 1H 2021). The decrease in margin was driven by higher expenses. 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 2% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 20
First half 2022 earnings released: EPS: CN¥0.32 (vs CN¥0.40 in 1H 2021) First half 2022 results: EPS: CN¥0.32 (down from CN¥0.40 in 1H 2021). Revenue: CN¥8.10b (up 25% from 1H 2021). Net income: CN¥686.4m (down 18% from 1H 2021). Profit margin: 8.5% (down from 13% in 1H 2021). The decrease in margin was driven by higher expenses. 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 5% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 27
Full year 2021 earnings released: EPS: CN¥0.83 (vs CN¥0.37 in FY 2020) Full year 2021 results: EPS: CN¥0.83 (up from CN¥0.37 in FY 2020). Revenue: CN¥14.2b (up 69% from FY 2020). Net income: CN¥1.76b (up 125% from FY 2020). Profit margin: 12% (up from 9.3% 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 28% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Announcement • Apr 26
Billion Industrial Holdings Limited, Annual General Meeting, May 26, 2022 Billion Industrial Holdings Limited, Annual General Meeting, May 26, 2022, at 10:00 China Standard Time. Location: Unit 1501, Office Tower, Convention Plaza, No. 1 Harbour Road, Wan Chai Hong Kong Agenda: To receive and consider the audited consolidated financial statements of the Company and its subsidiaries, the reports of the directors of the Company (the "Directors") and the auditors of the Company for the year ended 31 December 2021; to authorize the board of Directors (the "Board") to fix the remuneration of the Directors; to re-appoint Mazars CPA Limited as auditors of the Company and to authorize the Board to fix their remuneration; and to consider other matters. Announcement • Feb 18
Billion Industrial Holdings Limited Provides Earnings Guidance for the December 31, 2021 Billion Industrial Holdings Limited provided earnings guidance for the December 31, 2021. The board (the "Board") of directors of the Company informed the shareholders (the "Shareholders") of the Company and potential investors that, based on the latest available information and a preliminary review of the unaudited consolidated management accounts of the Group for the year ended 31 December 2021, the Group expects to record an increase in net profit attributable to owners of the Company by no less than 110% for the year ended 31 December 2021, as compared to the net profit attributable to owners of the Company for the year ended 31 December 2020. The increase was mainly due to (i) the increase in production capacity of the new production lines at factory located in Jinjiang, which included polyester industrial yarns and polyester thin film production lines; and (ii) the increase in total sales volume and average selling price of polyester filament yarns and polyester thin films for the period from January 2021 to December 2021 as compared to the period from January 2020 to December 2020, resulting in a significant increase in total revenue. Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment improved over the past week After last week's 17% share price gain to HK$5.80, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 9x in the Luxury industry in Hong Kong. Total loss to shareholders of 46% over the past three years. 