Upcoming Dividend • Jun 29
Upcoming dividend of HK$0.98 per share Eligible shareholders must have bought the stock before 06 July 2026. Payment date: 07 August 2026. Payout ratio is on the higher end at 75%, however this is supported by cash flows. Trailing yield: 8.2%. Within top quartile of Hong Kong dividend payers (7.6%). Higher than average of industry peers (6.7%). Announcement • Jun 10
Binjiang Service Group Co. Ltd. Approves Final Dividend for the Year Ended December 31, 2025 Binjiang Service Group Co. Ltd. at its AGM held on June 9, 2026 approved a final dividend of HKD 0.978 per share for the year ended December 31, 2025. Declared Dividend • Mar 27
Final dividend of HK$0.98 announced Shareholders will receive a dividend of HK$0.98. Ex-date: 6th July 2026 Payment date: 7th August 2026 Dividend yield will be 7.7%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (54% cash payout ratio). The dividend has increased by an average of 50% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 26
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥2.15 (up from CN¥1.98 in FY 2024). Revenue: CN¥4.10b (up 14% from FY 2024). Net income: CN¥595.5m (up 9.0% from FY 2024). Profit margin: 14% (in line with FY 2024). Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 3.8%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Commercial Services industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Mar 25
Binjiang Service Group Co. Ltd., Annual General Meeting, Jun 09, 2026 Binjiang Service Group Co. Ltd., Annual General Meeting, Jun 09, 2026. Announcement • Mar 13
Binjiang Service Group Co. Ltd. to Report Fiscal Year 2025 Results on Mar 25, 2026 Binjiang Service Group Co. Ltd. announced that they will report fiscal year 2025 results on Mar 25, 2026 Buy Or Sell Opportunity • Oct 14
Now 23% undervalued Over the last 90 days, the stock has risen 4.2% to HK$25.54. The fair value is estimated to be HK$33.09, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to grow by 29% in 2 years. Earnings are forecast to grow by 31% in the next 2 years. Upcoming Dividend • Aug 27
Upcoming dividend of HK$0.83 per share Eligible shareholders must have bought the stock before 03 September 2025. Payment date: 19 September 2025. Payout ratio and cash payout ratio are on the higher end at 76% and 82% respectively. Trailing yield: 6.9%. Within top quartile of Hong Kong dividend payers (6.6%). In line with average of industry peers (6.6%). Reported Earnings • Aug 23
First half 2025 earnings released: EPS: CN¥1.08 (vs CN¥0.96 in 1H 2024) First half 2025 results: EPS: CN¥1.08 (up from CN¥0.96 in 1H 2024). Revenue: CN¥2.03b (up 23% from 1H 2024). Net income: CN¥297.7m (up 12% from 1H 2024). Profit margin: 15% (down from 16% in 1H 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Commercial Services industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Aug 12
Binjiang Service Group Co. Ltd. to Report First Half, 2025 Results on Aug 21, 2025 Binjiang Service Group Co. Ltd. announced that they will report first half, 2025 results on Aug 21, 2025 Announcement • Jun 29
Binjiang Service Group Co. Ltd. Appoints Cai Haijing as Member of the Nomination Committee, Effective 27 June 2025 The board of directors of Binjiang Service Group Co. Ltd. announced that Ms. Cai Haijing, an independent non-executive Director, has been appointed as a member of the nomination committee of the Board (the "Nomination Committee") with effect on 27 June 2025. Upon such appointment, the Nomination Committee comprises four members, namely Mr. Yu Zhongxiang (Chairman), Mr. Ding Jiangang, Mr. Li Kunjun and Ms. Cai Haijing. Upcoming Dividend • Jun 16
Upcoming dividend of HK$0.88 per share Eligible shareholders must have bought the stock before 23 June 2025. Payment date: 07 August 2025. Payout ratio is a comfortable 72% and the cash payout ratio is 83%. Trailing yield: 7.0%. Lower than top quartile of Hong Kong dividend payers (7.5%). In line with average of industry peers (7.5%). Announcement • Jun 05
Binjiang Service Group Co. Ltd. Declares Final Dividend for the Year Ended December 31, 2024 Binjiang Service Group Co. Ltd. announced that at its AGM held on June 5, 2025, the shareholders declared a final dividend of HKD 0.876 per Share for the year ended December 31, 2024. Buy Or Sell Opportunity • Apr 29
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 32% to HK$25.50. The fair value is estimated to be HK$20.74, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Reported Earnings • Apr 27
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: CN¥1.98 (up from CN¥1.78 in FY 2023). Revenue: CN¥3.59b (up 28% from FY 2023). Net income: CN¥546.5m (up 11% from FY 2023). Profit margin: 15% (down from 18% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Commercial Services industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 26
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: CN¥1.98 (up from CN¥1.78 in FY 2023). Revenue: CN¥3.59b (up 28% from FY 2023). Net income: CN¥546.5m (up 11% from FY 2023). Profit margin: 15% (down from 18% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Commercial Services industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Mar 25
Binjiang Service Group Co. Ltd., Annual General Meeting, Jun 05, 2025 Binjiang Service Group Co. Ltd., Annual General Meeting, Jun 05, 2025. Announcement • Mar 10
Binjiang Service Group Co. Ltd. to Report Fiscal Year 2024 Results on Mar 25, 2025 Binjiang Service Group Co. Ltd. announced that they will report fiscal year 2024 results on Mar 25, 2025 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$20.15, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 6x in the Commercial Services industry in Hong Kong. Total loss to shareholders of 2.1% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$27.90 per share. Upcoming Dividend • Sep 25
Upcoming dividend of HK$0.63 per share Eligible shareholders must have bought the stock before 02 October 2024. Payment date: 18 October 2024. Payout ratio is on the higher end at 87%, and the cash payout ratio is above 100%. Trailing yield: 7.1%. Lower than top quartile of Hong Kong dividend payers (8.4%). Higher than average of industry peers (5.9%). Reported Earnings • Aug 31
First half 2024 earnings released: EPS: CN¥0.96 (vs CN¥0.84 in 1H 2023) First half 2024 results: EPS: CN¥0.96 (up from CN¥0.84 in 1H 2023). Revenue: CN¥1.65b (up 39% from 1H 2023). Net income: CN¥265.3m (up 15% from 1H 2023). Profit margin: 16% (down from 19% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Commercial Services industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Aug 15
Binjiang Service Group Co. Ltd. to Report First Half, 2024 Results on Aug 29, 2024 Binjiang Service Group Co. Ltd. announced that they will report first half, 2024 results on Aug 29, 2024 Upcoming Dividend • Jun 05
Upcoming dividend of HK$1.37 per share Eligible shareholders must have bought the stock before 12 June 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 6.5%. Lower than top quartile of Hong Kong dividend payers (7.6%). Higher than average of industry peers (5.2%). Declared Dividend • Mar 27
Dividend of HK$1.37 announced Shareholders will receive a dividend of HK$1.37. Ex-date: 12th June 2024 Payment date: 28th June 2024 Dividend yield will be 8.0%, which is higher than the industry average of 7.4%. Sustainability & Growth Dividend is covered by both earnings (60% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 65% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 61% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 26
Binjiang Service Group Co. Ltd., Annual General Meeting, Jun 07, 2024 Binjiang Service Group Co. Ltd., Annual General Meeting, Jun 07, 2024. Reported Earnings • Mar 26
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: CN¥1.78 (up from CN¥1.49 in FY 2022). Revenue: CN¥2.81b (up 42% from FY 2022). Net income: CN¥492.5m (up 20% from FY 2022). Profit margin: 18% (down from 21% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) missed analyst estimates by 6.3%. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Commercial Services industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Mar 14
Binjiang Service Group Co. Ltd. to Report Fiscal Year 2023 Results on Mar 25, 2024 Binjiang Service Group Co. Ltd. announced that they will report fiscal year 2023 results on Mar 25, 2024 Announcement • Oct 28
Binjiang Service Group Co. Ltd. Chief Executive Officer Changes The board of directors of Binjiang Service Group Co. Ltd. (the "Company", and together with its subsidiaries, collectively the "Group") hereby announces that with effect from October 26, 2023, as Mr. Zhu Lidong has reached the retirement age pursuant to laws and regulations of PRC, he has resigned as an executive Director, the chairman (the "Chairman") and the chief executive officer (the "Chief Executive Officer") of the Company, and ceased to act as the chairman of the nomination committee (the "Nomination Committee") and a member of the strategy committee (the "Strategy Committee") of the Company. The Board hereby further announces that Mr. Yu Zhongxiang ("Mr. Yu") has been appointed as an executive Director, the Chairman and the Chief Executive Officer, as well as the chairman of the Nomination Committee and a member of the Strategy Committee, all with effect from October 26, 2023. Mr. Yu Zhongxiang, aged 53. Mr. Yu joined the Group in October 2023. With his extensive experience, Mr. Yu is principally responsible for the overall management and business operation of the Group, including coordinating board affairs, formulating strategies and operational plans and making major business decisions. Mr. Yu has approximately 30 years of experience in the real estate industry and has extensive experience in property development and property sale management. Prior to joining the Group, Mr. Yu was the executive president of Hangzhou Binjiang Real Estate Group Co. Ltd. (a company principally engaged in real estate development and listed on the Shenzhen Stock Exchange, stock code: 002244) ("Hangzhou Binjiang Real Estate") from February 2020 to October 2023; the executive vice general manager of Hangzhou Binjiang Real Estate from August 2011 to January 2020; the vice general manager of Hangzhou Binjiang Real Estate from 2005 to July 2011; and a project manager of Hangzhou Binjiang Real Estate from 2003 to 2005. From 1993 to 2003, Mr. Yu worked as an employee in Hangzhou Cosmos Real Estate Group Co. Ltd. Mr. Yu has ceased to hold the position of executive president of Hangzhou Binjiang Real Estate with effect from 26 October 2023. Mr. Yu received a master's degree in civil engineering and a bachelor's degree in civil engineering from the Zhejiang University in May 2000 and June 1993, respectively. Mr. Yu is currently a senior civil engineer and a member of the Professional Committee for Green Rock-Soil and Anchoring Engineering of Zhejiang Rock-Soil Mechanics and Engineering Society. Announcement • Oct 27
Binjiang Service Group Co. Ltd. Announces Executive Changes The board of directors of Binjiang Service Group Co. Ltd. (the "Company", and together with its subsidiaries, collectively the "Group") hereby announces that with effect from October 26, 2023, as Mr. Zhu Lidong has reached the retirement age pursuant to laws and regulations of PRC, he has resigned as an executive Director, the chairman (the "Chairman") and the chief executive officer (the "Chief Executive Officer") of the Company, and ceased to act as the chairman of the nomination committee (the "Nomination Committee") and a member of the strategy committee (the "Strategy Committee") of the Company. The Board hereby further announces that Mr. Yu Zhongxiang ("Mr. Yu") has been appointed as an executive Director, the Chairman and the Chief Executive Officer, as well as the chairman of the Nomination Committee and a member of the Strategy Committee, all with effect from October 26, 2023. Mr. Yu Zhongxiang, aged 53. Mr. Yu joined the Group in October 2023. With his extensive experience, Mr. Yu is principally responsible for the overall management and business operation of the Group, including coordinating board affairs, formulating strategies and operational plans and making major business decisions. Mr. Yu has approximately 30 years of experience in the real estate industry and has extensive experience in property development and property sale management. Prior to joining the Group, Mr. Yu was the executive president of Hangzhou Binjiang Real Estate Group Co. Ltd. (a company principally engaged in real estate development and listed on the Shenzhen Stock Exchange, stock code: 002244) ("Hangzhou Binjiang Real Estate") from February 2020 to October 2023; the executive vice general manager of Hangzhou Binjiang Real Estate from August 2011 to January 2020; the vice general manager of Hangzhou Binjiang Real Estate from 2005 to July 2011; and a project manager of Hangzhou Binjiang Real Estate from 2003 to 2005. From 1993 to 2003, Mr. Yu worked as an employee in Hangzhou Cosmos Real Estate Group Co. Ltd. Mr. Yu has ceased to hold the position of executive president of Hangzhou Binjiang Real Estate with effect from 26 October 2023. Mr. Yu received a master's degree in civil engineering and a bachelor's degree in civil engineering from the Zhejiang University in May 2000 and June 1993, respectively. Mr. Yu is currently a senior civil engineer and a member of the Professional Committee for Green Rock-Soil and Anchoring Engineering of Zhejiang Rock-Soil Mechanics and Engineering Society. Reported Earnings • Aug 26
First half 2023 earnings released: EPS: CN¥0.84 (vs CN¥0.69 in 1H 2022) First half 2023 results: EPS: CN¥0.84 (up from CN¥0.69 in 1H 2022). Revenue: CN¥1.19b (up 43% from 1H 2022). Net income: CN¥231.0m (up 21% from 1H 2022). Profit margin: 19% (down from 23% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Commercial Services industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Aug 16
Binjiang Service Group Co. Ltd. to Report First Half, 2023 Results on Aug 25, 2023 Binjiang Service Group Co. Ltd. announced that they will report first half, 2023 results on Aug 25, 2023 Upcoming Dividend • Jun 13
Upcoming dividend of HK$1.00 per share at 4.8% yield Eligible shareholders must have bought the stock before 20 June 2023. Payment date: 28 September 2023. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Hong Kong dividend payers (7.8%). Lower than average of industry peers (6.1%). Announcement • Jun 07
Binjiang Service Group Co. Ltd. Approves Final Dividend for the Year Ended December 31, 2022 Binjiang Service Group Co. Ltd. at its annual general meeting held on June 6, 2023, approved to declare a final dividend of HKD 1.001 per share for the year ended December 31, 2022. Reported Earnings • Mar 26
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: CN¥1.49 (up from CN¥1.16 in FY 2021). Revenue: CN¥1.98b (up 42% from FY 2021). Net income: CN¥412.0m (up 28% from FY 2021). Profit margin: 21% (down from 23% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) missed analyst estimates by 1.3%. Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 9.4% growth forecast for the Commercial Services industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 15% share price gain to HK$21.60, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 5x in the Commercial Services industry in Hong Kong. Total returns to shareholders of 225% over the past three years. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improved over the past week After last week's 15% share price gain to HK$18.50, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 5x in the Commercial Services industry in Hong Kong. Total returns to shareholders of 185% over the past three years. Board Change • Nov 16
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. 7 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Non-Executive Director Jiangang Ding was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improved over the past week After last week's 18% share price gain to HK$15.60, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 5x in the Commercial Services industry in Hong Kong. Total returns to shareholders of 135% over the past three years. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 17% share price decline to HK$16.42, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 4x in the Commercial Services industry in Hong Kong. Total returns to shareholders of 162% over the past three years. Valuation Update With 7 Day Price Move • Sep 23
Investor sentiment deteriorated over the past week After last week's 15% share price decline to HK$19.62, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 4x in the Commercial Services industry in Hong Kong. Total returns to shareholders of 200% over the past three years. Reported Earnings • Aug 27
First half 2022 earnings released: EPS: CN¥0.69 (vs CN¥0.53 in 1H 2021) First half 2022 results: EPS: CN¥0.69 (up from CN¥0.53 in 1H 2021). Revenue: CN¥831.5m (up 41% from 1H 2021). Net income: CN¥190.3m (up 31% from 1H 2021). Profit margin: 23% (down from 25% in 1H 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 44%, compared to a 13% growth forecast for the Commercial Services industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 42% per year whereas the company’s share price has increased by 44% per year. Announcement • Aug 16
Binjiang Service Group Co. Ltd. to Report First Half, 2022 Results on Aug 25, 2022 Binjiang Service Group Co. Ltd. announced that they will report first half, 2022 results on Aug 25, 2022 Announcement • Aug 11
Binjiang Service Group Co. Ltd. Provides Consolidated Earnings Guidance for the Six Months Ended June 30, 2022 The board of directors of Binjiang Service Group Co. Ltd. announced that, based on the preliminary assessment of the unaudited consolidated management accounts of the Group for the six months ended June 30, 2022 and the information currently available, it is expected that (i) excluding the impact of the withholding tax provision note for the current year, the Group's adjusted profit attributable to equity shareholders of the Company for the six months ended June 30, 2022 would increase by more than 35% as compared with that for the six months ended June 30, 2021; and (ii) the Group's profit attributable to equity shareholders of the Company for the six months ended June 30, 2022 would increase by more than 25% as compared with that for the six months ended June 30, 2021. The increase in profit attributable to equity shareholders of the Company was mainly due to: (1) the increase in gross floor area of properties under management by the Group; and (2) the growth in revenue from value-added services. For the six months ended June 30, 2022, gross floor area of properties under the management by the Group reached approximately 35.4 million sq.m., representing an increase of approximately 42.2% as compared with the corresponding period of last year. New gross floor area of properties under management acquired during the first half of year 2022 reached approximately 5.5 million sq.m., approximately 4.0 million sq.m. of which was developed by independent third parties, accounting for 72.7%. Contracted gross floor area reached approximately 57.4 million sq.m., representing an increase of approximately 41.3% as compared with the corresponding period of last year. During the first half of year 2022, the Group put great efforts in implementing strategies to expand its business into properties developed by third parties and expanded its management business to cover hospitals. The Group also expanded its coverage over Shenzhen. During the first half of year 2022, the Group did not have any mergers and acquisitions. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improved over the past week After last week's 19% share price gain to HK$26.70, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 5x in the Commercial Services industry in Hong Kong. Total returns to shareholders of 302% over the past three years. Upcoming Dividend • May 30
Upcoming dividend of HK$0.47 per share Eligible shareholders must have bought the stock before 06 June 2022. Payment date: 22 June 2022. Payout ratio is a comfortable 60% and the cash payout ratio is 95%. Trailing yield: 3.8%. Lower than top quartile of Hong Kong dividend payers (7.8%). Lower than average of industry peers (5.5%). Reported Earnings • May 02
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥1.16 (up from CN¥0.79 in FY 2020). Revenue: CN¥1.40b (up 46% from FY 2020). Net income: CN¥321.8m (up 47% from FY 2020). Profit margin: 23% (in line with FY 2020). Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 2.5%. Over the next year, revenue is forecast to grow 42%, compared to a 8.8% growth forecast for the industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 43% per year whereas the company’s share price has increased by 47% per year. 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. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Jiangang Ding was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Buying Opportunity • Apr 21
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 9.6%. The fair value is estimated to be HK$28.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 43%. For the next 3 years, revenue is forecast to grow by 31% per annum. Earnings is also forecast to grow by 29% per annum over the same time period. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improved over the past week After last week's 16% share price gain to HK$23.80, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 6x in the Commercial Services industry in Hong Kong. Total returns to shareholders of 265% over the past three years. Reported Earnings • Apr 01
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥1.16 (up from CN¥0.79 in FY 2020). Revenue: CN¥1.40b (up 46% from FY 2020). Net income: CN¥321.8m (up 47% from FY 2020). Profit margin: 23% (in line with FY 2020). Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 2.5%. Over the next year, revenue is forecast to grow 42%, compared to a 1.3% growth forecast for the industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 43% per year and the company’s share price has also increased by 43% per year. Announcement • Apr 01
Binjiang Service Group Co. Ltd. Proposes Final Dividend for the Year Ended 31 December 2021, Payable on 22 June 2022 Binjiang Service Group Co. Ltd. proposed final dividend for the year ended 31 December 2021 of HKD 0.473 per share. The dividend is payable on 22 June 2022 with record date of 10 June 2022 and ex-dividend date of 6 June 2022. Date of shareholders' approval is 1 June 2022. Buying Opportunity • Apr 01
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 5.9%. The fair value is estimated to be HK$26.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last year. Earnings per share has grown by 55%. Revenue is forecast to grow by 111% in 2 years. Earnings is forecast to grow by 140% in the next 2 years. Buying Opportunity • Mar 14
Now 29% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be CN¥26.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last year. Earnings per share has grown by 55% over the last year. Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment deteriorated over the past week After last week's 16% share price decline to HK$21.25, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 6x in the Commercial Services industry in Hong Kong. Total returns to shareholders of 63% over the past year. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment improved over the past week After last week's 17% share price gain to HK$24.25, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 7x in the Commercial Services industry in Hong Kong. Total returns to shareholders of 57% over the past year. Upcoming Dividend • Sep 28
Upcoming dividend of HK$0.38 per share Eligible shareholders must have bought the stock before 05 October 2021. Payment date: 08 November 2021. Trailing yield: 3.6%. Lower than top quartile of Hong Kong dividend payers (6.8%). Lower than average of industry peers (5.3%). Reported Earnings • Sep 03
First half 2021 earnings released: EPS CN¥0.53 (vs CN¥0.37 in 1H 2020) The company reported a solid first half result with improved earnings and revenues, although profit margins were flat. First half 2021 results: Revenue: CN¥591.2m (up 42% from 1H 2020). Net income: CN¥145.0m (up 41% from 1H 2020). Profit margin: 25% (in line with 1H 2020). Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment deteriorated over the past week After last week's 19% share price decline to CN¥20.10, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 11x in the Commercial Services industry in Hong Kong. Total returns to shareholders of 2.0% over the past year. Announcement • Aug 08
Binjiang Service Group Co. Ltd. Provides Unaudited Consolidated Earnings Guidance for the Six Months Ended June 30, 2021 Binjiang Service Group Co. Ltd. provided unaudited consolidated earnings guidance for the six months ended June 30, 2021. For the six months, it is expected that the Group's consolidated net profit attributable to equity shareholders of the Company for the six months ended June 30, 2021 will increase by more than 40% as compared with that for the six months ended June 30, 2020. Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment deteriorated over the past week After last week's 20% share price decline to CN¥25.00, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 13x in the Commercial Services industry in Hong Kong. Total returns to shareholders of 40% over the past year. Announcement • Jun 02
Binjiang Service Group Co. Ltd. Approves Final Dividend for the Year Ended December 31, 2020 Binjiang Service Group Co. Ltd. announced at the AGM held on June 1, 2021 that the company approved to declare a final dividend of HKD 0.564 per Share for the year ended December 31, 2020. Valuation Update With 7 Day Price Move • May 27
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥24.85, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 11x in the Commercial Services industry in Hong Kong. Total returns to shareholders of 114% over the past year. Upcoming Dividend • May 27
Upcoming dividend of HK$0.56 per share Eligible shareholders must have bought the stock before 03 June 2021. Payment date: 25 June 2021. Trailing yield: 2.3%. Lower than top quartile of Hong Kong dividend payers (5.9%). Higher than average of industry peers (1.4%). Reported Earnings • Apr 29
Full year 2020 earnings released: EPS CN¥0.79 (vs CN¥0.44 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥960.2m (up 37% from FY 2019). Net income: CN¥219.6m (up 91% from FY 2019). Profit margin: 23% (up from 16% in FY 2019).