Announcement • May 26
Jiayou International Logistics Co.,Ltd (SHSE:603871) announces an Equity Buyback for CNY 100 million worth of its shares. Jiayou International Logistics Co.,Ltd (SHSE:603871) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its A shares. The shares will be repurchased at a price not more than CNY 19.47 per share. The repurchased shares will be used to maintain the Company’s value and shareholder rights. The shares will be sold 12 months after the completion of the repurchase. The program will be funded via own funds. The program will be valid for 3 months. Reported Earnings • Apr 25
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.84 (down from CN¥0.94 in FY 2024). Revenue: CN¥8.38b (down 4.3% from FY 2024). Net income: CN¥1.14b (down 11% from FY 2024). Profit margin: 14% (in line with FY 2024). Revenue missed analyst estimates by 8.4%. Earnings per share (EPS) also missed analyst estimates by 8.0%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 7.9% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 11% per year. Announcement • Apr 25
Jiayou International Logistics Co.,Ltd, Annual General Meeting, May 18, 2026 Jiayou International Logistics Co.,Ltd, Annual General Meeting, May 18, 2026, at 14:30 China Standard Time. Location: 24F, Building 2, Yard No. 26, Chengtong Street, Shijingshan District, Beijing China Announcement • Mar 30
Jiayou International Logistics Co.,Ltd to Report Q1, 2026 Results on Apr 28, 2026 Jiayou International Logistics Co.,Ltd announced that they will report Q1, 2026 results on Apr 28, 2026 Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥15.80, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 15x in the Logistics industry in China. Total returns to shareholders of 89% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥6.69 per share. Announcement • Dec 26
Jiayou International Logistics Co.,Ltd to Report Fiscal Year 2025 Results on Apr 22, 2026 Jiayou International Logistics Co.,Ltd announced that they will report fiscal year 2025 results on Apr 22, 2026 Price Target Changed • Nov 14
Price target increased by 8.9% to CN¥16.05 Up from CN¥14.74, the current price target is an average from 4 analysts. New target price is 19% above last closing price of CN¥13.51. Stock is down 3.3% over the past year. The company is forecast to post earnings per share of CN¥0.90 for next year compared to CN¥0.94 last year. Reported Earnings • Nov 01
Third quarter 2025 earnings released: EPS: CN¥0.23 (vs CN¥0.24 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.23 (down from CN¥0.24 in 3Q 2024). Revenue: CN¥2.49b (up 31% from 3Q 2024). Net income: CN¥313.2m (down 4.9% from 3Q 2024). Profit margin: 13% (down from 17% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 21% per year. Announcement • Sep 30
Jiayou International Logistics Co.,Ltd to Report Q3, 2025 Results on Oct 28, 2025 Jiayou International Logistics Co.,Ltd announced that they will report Q3, 2025 results on Oct 28, 2025 Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥14.50, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 15x in the Logistics industry in China. Total returns to shareholders of 121% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥22.82 per share. Major Estimate Revision • Sep 02
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥9.42b to CN¥8.81b. EPS estimate also fell from CN¥1.01 per share to CN¥0.88 per share. Net income forecast to grow 32% next year vs 18% growth forecast for Logistics industry in China. Consensus price target up from CN¥13.88 to CN¥14.89. Share price rose 4.3% to CN¥11.87 over the past week. Reported Earnings • Aug 28
Second quarter 2025 earnings released: EPS: CN¥0.22 (vs CN¥0.33 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.22 (down from CN¥0.33 in 2Q 2024). Revenue: CN¥1.79b (down 32% from 2Q 2024). Net income: CN¥299.0m (down 34% from 2Q 2024). Profit margin: 17% (in line with 2Q 2024). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 19% per year. Announcement • Jun 30
Jiayou International Logistics Co.,Ltd to Report First Half, 2025 Results on Aug 27, 2025 Jiayou International Logistics Co.,Ltd announced that they will report first half, 2025 results on Aug 27, 2025 Major Estimate Revision • May 01
Consensus revenue estimates fall by 26% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥12.7b to CN¥9.38b. EPS estimate fell from CN¥2.02 to CN¥1.42 per share. Net income forecast to grow 22% next year vs 21% growth forecast for Logistics industry in China. Consensus price target down from CN¥23.65 to CN¥19.43. Share price was steady at CN¥13.94 over the past week. New Risk • Apr 28
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% 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 (21% accrual ratio). Minor Risk Dividend is not well covered by cash flows (140% cash payout ratio). Price Target Changed • Apr 27
Price target decreased by 15% to CN¥21.79 Down from CN¥25.67, the current price target is an average from 4 analysts. New target price is 48% above last closing price of CN¥14.76. Stock is down 20% over the past year. The company is forecast to post earnings per share of CN¥1.42 for next year compared to CN¥1.31 last year. Reported Earnings • Apr 25
First quarter 2025 earnings released: EPS: CN¥0.27 (vs CN¥0.31 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.27 (down from CN¥0.31 in 1Q 2024). Revenue: CN¥2.29b (up 15% from 1Q 2024). Net income: CN¥261.7m (down 15% from 1Q 2024). Profit margin: 11% (down from 15% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 28% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has increased by 32% per year whereas the company’s share price has increased by 29% per year. Announcement • Apr 25
Jiayou International Logistics Co.,Ltd, Annual General Meeting, May 22, 2025 Jiayou International Logistics Co.,Ltd, Annual General Meeting, May 22, 2025, at 14:30 China Standard Time. Location: 24F, Building 2, Yard No. 26, Chengtong Street, Shijingshan District, Beijing China Announcement • Mar 28
Jiayou International Logistics Co.,Ltd to Report Q1, 2025 Results on Apr 25, 2025 Jiayou International Logistics Co.,Ltd announced that they will report Q1, 2025 results on Apr 25, 2025 Announcement • Dec 27
Jiayou International Logistics Co.,Ltd to Report Fiscal Year 2024 Results on Apr 25, 2025 Jiayou International Logistics Co.,Ltd announced that they will report fiscal year 2024 results on Apr 25, 2025 Price Target Changed • Nov 22
Price target increased by 7.5% to CN¥25.67 Up from CN¥23.87, the current price target is an average from 4 analysts. New target price is 20% above last closing price of CN¥21.35. Stock is up 79% over the past year. The company is forecast to post earnings per share of CN¥1.61 for next year compared to CN¥1.06 last year. Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.34 (vs CN¥0.26 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.34 (up from CN¥0.26 in 3Q 2023). Revenue: CN¥1.90b (down 17% from 3Q 2023). Net income: CN¥329.3m (up 31% from 3Q 2023). Profit margin: 17% (up from 11% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 30
Jiayou International Logistics Co.,Ltd to Report Q3, 2024 Results on Oct 30, 2024 Jiayou International Logistics Co.,Ltd announced that they will report Q3, 2024 results on Oct 30, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥22.69, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Logistics industry in China. Total returns to shareholders of 304% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥35.61 per share. Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: CN¥0.47 (vs CN¥0.30 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.47 (up from CN¥0.30 in 2Q 2023). Revenue: CN¥2.65b (up 116% from 2Q 2023). Net income: CN¥452.2m (up 50% from 2Q 2023). Profit margin: 17% (down from 25% in 2Q 2023). 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 10% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has increased by 40% per year and the company’s share price has also increased by 40% per year. Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥18.43, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 11x in the Logistics industry in China. Total returns to shareholders of 231% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥35.33 per share. Announcement • Jun 28
Jiayou International Logistics Co.,Ltd to Report First Half, 2024 Results on Aug 28, 2024 Jiayou International Logistics Co.,Ltd announced that they will report first half, 2024 results on Aug 28, 2024 Board Change • Jun 04
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. No experienced directors. 1 highly experienced director. Employee Supervisor Liu Jian Jun is the most experienced director on the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Price Target Changed • Apr 25
Price target increased by 7.8% to CN¥31.08 Up from CN¥28.84, the current price target is an average from 5 analysts. New target price is 18% above last closing price of CN¥26.39. Stock is up 37% over the past year. The company is forecast to post earnings per share of CN¥1.91 for next year compared to CN¥1.49 last year. Announcement • Apr 19
Jiayou International Logistics Co.,Ltd, Annual General Meeting, May 15, 2024 Jiayou International Logistics Co.,Ltd, Annual General Meeting, May 15, 2024, at 14:30 China Standard Time. Location: 24F, Building 2, Yard No. 26, Chengtong Street, Shijingshan District, Beijing China Reported Earnings • Apr 18
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: CN¥1.49 (up from CN¥1.04 in FY 2022). Revenue: CN¥7.00b (up 45% from FY 2022). Net income: CN¥1.04b (up 53% from FY 2022). Profit margin: 15% (in line with FY 2022). Revenue exceeded analyst estimates by 6.0%. Earnings per share (EPS) also surpassed analyst estimates by 3.8%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 29
Jiayou International Logistics Co.,Ltd to Report Q1, 2024 Results on Apr 24, 2024 Jiayou International Logistics Co.,Ltd announced that they will report Q1, 2024 results on Apr 24, 2024 Announcement • Feb 22
Jiayou International Logistics Co.,Ltd (SHSE:603871) has entered into share purchase agreement to acquire 20% stake in Khangad Exploration LLC from Baruun Naran S.A.R.L for $88.81 million. Jiayou International Logistics Co.,Ltd (SHSE:603871) has entered into share purchase agreement to acquire 20% stake in Khangad Exploration LLC from Baruun Naran S.A.R.L on February 21, 2024. The 6.90 million shares of Khangad Exploration LLC will be acquired as part of the transaction. The consideration consists of $88.81 million in cash. As part of the consideration, $88.81 million was paid towards common equity. The board of Mongolian Mining Corporation which is the indirect parent of Baruun Naran S.A.R.L has approved the transaction. As of 30 June 2023, the Khangad Exploration LLC reported unaudited total assets of $112.69 million and the common equity of $21.69 million. Price Target Changed • Feb 08
Price target increased by 7.4% to CN¥27.26 Up from CN¥25.38, the current price target is an average from 5 analysts. New target price is 25% above last closing price of CN¥21.80. Stock is up 27% over the past year. The company is forecast to post earnings per share of CN¥1.34 for next year compared to CN¥1.04 last year. Announcement • Dec 29
Jiayou International Logistics Co.,Ltd to Report Fiscal Year 2023 Results on Apr 18, 2024 Jiayou International Logistics Co.,Ltd announced that they will report fiscal year 2023 results on Apr 18, 2024 Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.36 (vs CN¥0.26 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.36 (up from CN¥0.26 in 3Q 2022). Revenue: CN¥2.29b (up 14% from 3Q 2022). Net income: CN¥251.0m (up 44% from 3Q 2022). Profit margin: 11% (up from 8.6% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has increased by 30% 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 2023 earnings released: EPS: CN¥0.42 (vs CN¥0.30 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.42 (up from CN¥0.30 in 2Q 2022). Revenue: CN¥1.22b (up 7.0% from 2Q 2022). Net income: CN¥301.5m (up 63% from 2Q 2022). Profit margin: 25% (up from 16% in 2Q 2022). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 20
Price target increased by 12% to CN¥31.48 Up from CN¥27.99, the current price target is an average from 5 analysts. New target price is 12% above last closing price of CN¥28.22. Stock is up 114% over the past year. The company is forecast to post earnings per share of CN¥1.77 for next year compared to CN¥1.46 last year. Reported Earnings • Apr 17
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: CN¥1.46 (up from CN¥0.86 in FY 2021). Revenue: CN¥4.83b (up 24% from FY 2021). Net income: CN¥680.7m (up 99% from FY 2021). Profit margin: 14% (up from 8.8% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.7%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Feb 24
Now 22% undervalued Over the last 90 days, the stock is up 25%. The fair value is estimated to be CN¥30.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 41% in 2 years. Earnings is forecast to grow by 67% in the next 2 years. Buying Opportunity • Feb 07
Now 21% undervalued Over the last 90 days, the stock is up 12%. The fair value is estimated to be CN¥30.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 41% in 2 years. Earnings is forecast to grow by 67% in the next 2 years. Price Target Changed • Dec 09
Price target increased to CN¥27.46 Up from CN¥24.22, the current price target is an average from 4 analysts. New target price is 25% above last closing price of CN¥21.91. Stock is up 47% over the past year. The company is forecast to post earnings per share of CN¥1.18 for next year compared to CN¥0.86 last year. Buying Opportunity • Dec 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 7.1%. The fair value is estimated to be CN¥25.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 31% in 2 years. Earnings is forecast to grow by 51% in the next 2 years. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Major Estimate Revision • Nov 06
Consensus revenue estimates increase by 20% The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from CN¥4.21b to CN¥5.07b. EPS estimate increased from CN¥1.14 to CN¥1.17 per share. Net income forecast to grow 27% next year vs 30% growth forecast for Logistics industry in China. Consensus price target up from CN¥24.22 to CN¥25.72. Share price rose 4.4% to CN¥21.67 over the past week. Buying Opportunity • Nov 01
Now 24% undervalued Over the last 90 days, the stock is up 4.9%. The fair value is estimated to be CN¥25.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 31% in 2 years. Earnings is forecast to grow by 51% in the next 2 years. Reported Earnings • Oct 31
Third quarter 2022 earnings released: EPS: CN¥0.36 (vs CN¥0.23 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.36 (up from CN¥0.23 in 3Q 2021). Revenue: CN¥2.01b (up 92% from 3Q 2021). Net income: CN¥174.0m (up 91% from 3Q 2021). Profit margin: 8.6% (down from 8.7% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥22.12, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Logistics industry in China. Total returns to shareholders of 102% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥13.73 per share. Reported Earnings • Aug 31
Second quarter 2022 earnings released: EPS: CN¥0.42 (vs CN¥0.18 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.42 (up from CN¥0.18 in 2Q 2021). Revenue: CN¥1.14b (up 28% from 2Q 2021). Net income: CN¥184.9m (up 154% from 2Q 2021). Profit margin: 16% (up from 8.1% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 9.8%, compared to a 23% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jul 07
Price target increased to CN¥19.46 Up from CN¥17.55, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of CN¥19.07. Stock is up 64% over the past year. The company is forecast to post earnings per share of CN¥1.15 for next year compared to CN¥0.86 last year. Major Estimate Revision • Jul 05
Consensus EPS estimates increase by 10% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from CN¥4.59b to CN¥4.68b. EPS estimate increased from CN¥1.04 to CN¥1.15 per share. Net income forecast to grow 52% next year vs 27% growth forecast for Logistics industry in China. Consensus price target up from CN¥17.55 to CN¥18.72. Share price rose 19% to CN¥20.21 over the past week. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥18.59, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 21x in the Logistics industry in China. Total returns to shareholders of 59% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥13.64 per share. Price Target Changed • Jun 25
Price target increased to CN¥17.55 Up from CN¥16.16, the current price target is an average from 4 analysts. New target price is 9.5% above last closing price of CN¥16.02. Stock is up 36% over the past year. The company is forecast to post earnings per share of CN¥1.04 for next year compared to CN¥0.86 last year. Announcement • Jun 21
Jiayou International Logistics Co.,Ltd(XSSC:603871) dropped from S&P Global BMI Index Jiayou International Logistics Co.,Ltd(XSSC:603871) dropped from S&P Global BMI Index Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment deteriorated over the past week After last week's 28% share price decline to CN¥17.29, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 20x in the Logistics industry in China. Total returns to shareholders of 20% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥20.29 per share. Major Estimate Revision • Apr 28
Consensus revenue estimates fall by 20% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥4.84b to CN¥3.87b. EPS estimate fell from CN¥1.80 to CN¥1.51 per share. Net income forecast to grow 40% next year vs 33% growth forecast for Logistics industry in China. Consensus price target of CN¥22.63 unchanged from last update. Share price fell 5.4% to CN¥17.50 over the past week. Reported Earnings • Apr 27
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥1.20 (down from CN¥1.26 in FY 2020). Revenue: CN¥3.89b (up 19% from FY 2020). Net income: CN¥342.8m (down 4.8% from FY 2020). Profit margin: 8.8% (down from 11% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 20%. Earnings per share (EPS) missed analyst estimates by 11%. Over the next year, revenue is forecast to stay flat compared to a 28% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥22.21, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 23x in the Logistics industry in China. Total returns to shareholders of 41% over the past three years. Reported Earnings • Nov 01
Third quarter 2021 earnings released: EPS CN¥0.32 (vs CN¥0.45 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥1.05b (up 5.0% from 3Q 2020). Net income: CN¥91.3m (down 29% from 3Q 2020). Profit margin: 8.7% (down from 13% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 7% per year. Reported Earnings • Aug 30
Second quarter 2021 earnings released: EPS CN¥0.26 (vs CN¥0.37 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥894.3m (up 9.3% from 2Q 2020). Net income: CN¥72.8m (down 31% from 2Q 2020). Profit margin: 8.1% (down from 13% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 25
Full year 2020 earnings released: EPS CN¥1.64 (vs CN¥1.56 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CN¥3.28b (down 21% from FY 2019). Net income: CN¥360.2m (up 4.9% from FY 2019). Profit margin: 11% (up from 8.2% in FY 2019). The increase in margin 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 fallen by 7% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 04
New 90-day low: CN¥18.92 The company is down 25% from its price of CN¥25.36 on 06 November 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥13.17 per share. Is New 90 Day High Low • Jan 13
New 90-day low: CN¥19.15 The company is down 27% from its price of CN¥26.28 on 15 October 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is down 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥13.16 per share. Is New 90 Day High Low • Dec 28
New 90-day low: CN¥20.32 The company is down 32% from its price of CN¥29.94 on 29 September 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥11.52 per share. Is New 90 Day High Low • Dec 12
New 90-day low: CN¥22.57 The company is down 27% from its price of CN¥31.10 on 11 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is down 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥11.43 per share. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥346.2m, up 6.3% from the prior year. Total revenue was CN¥3.48b over the last 12 months, down 17% from the prior year. Is New 90 Day High Low • Oct 23
New 90-day low: CN¥22.75 The company is down 1.0% from its price of CN¥23.03 on 24 July 2020. The Chinese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥9.31 per share. Valuation Update With 7 Day Price Move • Oct 16
Market pulls back on stock over the past week After last week's 16% share price decline to CN¥25.82, the stock is trading at a trailing P/E ratio of 17.8x, down from the previous P/E ratio of 21.1x. This compares to an average P/E of 35x in the Logistics industry in China. Total returns to shareholders over the past year are 21%. Announcement • Aug 04
Jiayou International Logistics Co.,Ltd announced that it expects to receive CNY 720 million in funding Jiayou International Logistics Co.,Ltd (SHSE:603871) announced a private placement of convertible corporate bonds for gross proceeds of CNY 720 million on August 2, 2020. The transaction was verified and approved by the China Securities Regulatory Commission in the Zheng Jian Xu Ke [2020] No. 1341 document. Announcement • Jul 10
Jiayou International Logistics Co.,Ltd to Report First Half, 2020 Results on Aug 28, 2020 Jiayou International Logistics Co.,Ltd announced that they will report first half, 2020 results on Aug 28, 2020