New Risk • Apr 28
New major risk - Revenue and earnings growth Earnings have declined by 4.8% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 169% Cash payout ratio: 140% Earnings have declined by 4.8% per year over the past 5 years. New Risk • Apr 20
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 159% Cash payout ratio: 105% Dividend yield: 7.2% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Ankündigung • Apr 20
Jiangsu Liba Enterprise Joint-Stock Co., Ltd., Annual General Meeting, May 11, 2026 Jiangsu Liba Enterprise Joint-Stock Co., Ltd., Annual General Meeting, May 11, 2026, at 13:30 China Standard Time. Location: 3F, No. 88, Huaxi Road, Environmental Protection Technology Industrial Park, Yixing, Jiangsu China Ankündigung • Mar 30
Jiangsu Liba Enterprise Joint-Stock Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Jiangsu Liba Enterprise Joint-Stock Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 Ankündigung • Dec 26
Jiangsu Liba Enterprise Joint-Stock Co., Ltd. to Report Fiscal Year 2025 Results on Apr 18, 2026 Jiangsu Liba Enterprise Joint-Stock Co., Ltd. announced that they will report fiscal year 2025 results on Apr 18, 2026 Reported Earnings • Oct 28
Third quarter 2025 earnings released: EPS: CN¥0.16 (vs CN¥0.13 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.16 (up from CN¥0.13 in 3Q 2024). Revenue: CN¥413.2m (flat on 3Q 2024). Net income: CN¥41.8m (up 22% from 3Q 2024). Profit margin: 10% (up from 8.4% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Ankündigung • Sep 30
Jiangsu Liba Enterprise Joint-Stock Co., Ltd. to Report Q3, 2025 Results on Oct 28, 2025 Jiangsu Liba Enterprise Joint-Stock Co., Ltd. announced that they will report Q3, 2025 results on Oct 28, 2025 Reported Earnings • Aug 28
Second quarter 2025 earnings released: EPS: CN¥0.16 (vs CN¥0.17 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.16 (down from CN¥0.17 in 2Q 2024). Revenue: CN¥398.7m (down 6.1% from 2Q 2024). Net income: CN¥41.7m (down 6.3% from 2Q 2024). Profit margin: 11% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Ankündigung • Jun 30
Jiangsu Liba Enterprise Joint-Stock Co., Ltd. to Report First Half, 2025 Results on Aug 26, 2025 Jiangsu Liba Enterprise Joint-Stock Co., Ltd. announced that they will report first half, 2025 results on Aug 26, 2025 New Risk • Apr 22
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 167% Cash payout ratio: 272% Dividend yield: 8.2% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 167% Cash payout ratio: 272% Minor Risk Profit margins are more than 30% lower than last year (9.3% net profit margin). Reported Earnings • Apr 19
Full year 2024 earnings released: EPS: CN¥0.60 (vs CN¥2.40 in FY 2023) Full year 2024 results: EPS: CN¥0.60 (down from CN¥2.40 in FY 2023). Revenue: CN¥1.71b (up 12% from FY 2023). Net income: CN¥159.0m (down 75% from FY 2023). Profit margin: 9.3% (down from 42% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Ankündigung • Apr 18
Jiangsu Liba Enterprise Joint-Stock Co., Ltd., Annual General Meeting, May 08, 2025 Jiangsu Liba Enterprise Joint-Stock Co., Ltd., Annual General Meeting, May 08, 2025, at 13:30 China Standard Time. Location: 3F, No. 88, Huaxi Road, Environmental Protection Technology Industrial Park, Yixing, Jiangsu China Ankündigung • Mar 28
Jiangsu Liba Enterprise Joint-Stock Co., Ltd. to Report Q1, 2025 Results on Apr 25, 2025 Jiangsu Liba Enterprise Joint-Stock Co., Ltd. announced that they will report Q1, 2025 results on Apr 25, 2025 Ankündigung • Dec 27
Jiangsu Liba Enterprise Joint-Stock Co., Ltd. to Report Fiscal Year 2024 Results on Apr 18, 2025 Jiangsu Liba Enterprise Joint-Stock Co., Ltd. announced that they will report fiscal year 2024 results on Apr 18, 2025 Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥13.18, the stock trades at a trailing P/E ratio of 25.7x. Average trailing P/E is 36x in the Chemicals industry in China. Total returns to shareholders of 14% over the past three years. Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: CN¥0.13 (vs CN¥0.20 loss in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.13 (up from CN¥0.20 loss in 3Q 2023). Revenue: CN¥410.0m (up 1.9% from 3Q 2023). Net income: CN¥34.2m (up CN¥87.4m from 3Q 2023). Profit margin: 8.4% (up from net loss in 3Q 2023). The move to profitability was primarily driven by lower expenses. 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 2% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥12.52, the stock trades at a trailing P/E ratio of 69x. Average trailing P/E is 32x in the Chemicals industry in China. Total returns to shareholders of 13% over the past three years. Ankündigung • Sep 30
Jiangsu Liba Enterprise Joint-Stock Co., Ltd. to Report Q3, 2024 Results on Oct 25, 2024 Jiangsu Liba Enterprise Joint-Stock Co., Ltd. announced that they will report Q3, 2024 results on Oct 25, 2024 New Risk • Sep 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Profit margins are more than 30% lower than last year (2.8% net profit margin). New Risk • Sep 17
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 26
Second quarter 2024 earnings released: EPS: CN¥0.17 (vs CN¥1.60 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.17 (down from CN¥1.60 in 2Q 2023). Revenue: CN¥424.5m (up 9.6% from 2Q 2023). Net income: CN¥44.5m (down 90% from 2Q 2023). Profit margin: 11% (down from 110% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥11.23, the stock trades at a trailing P/E ratio of 6.9x. Average trailing P/E is 29x in the Chemicals industry in China. Total loss to shareholders of 1.6% over the past three years. Ankündigung • Jun 28
Jiangsu Liba Enterprise Joint-Stock Co., Ltd. to Report First Half, 2024 Results on Aug 26, 2024 Jiangsu Liba Enterprise Joint-Stock Co., Ltd. announced that they will report first half, 2024 results on Aug 26, 2024 Ankündigung • Apr 27
Jiangsu Liba Enterprise Joint-Stock Co., Ltd., Annual General Meeting, May 21, 2024 Jiangsu Liba Enterprise Joint-Stock Co., Ltd., Annual General Meeting, May 21, 2024, at 13:30 China Standard Time. Location: 3F, No. 88, Huaxi Road, Environmental Protection Technology Industrial Park, Yixing, Jiangsu China Reported Earnings • Apr 26
Full year 2023 earnings released: EPS: CN¥2.40 (vs CN¥2.12 in FY 2022) Full year 2023 results: EPS: CN¥2.40 (up from CN¥2.12 in FY 2022). Revenue: CN¥1.52b (up 7.6% from FY 2022). Net income: CN¥639.8m (up 13% from FY 2022). Profit margin: 42% (up from 40% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Ankündigung • Mar 30
Jiangsu Liba Enterprise Joint-Stock Co., Ltd. to Report Q1, 2024 Results on Apr 29, 2024 Jiangsu Liba Enterprise Joint-Stock Co., Ltd. announced that they will report Q1, 2024 results on Apr 29, 2024 Ankündigung • Dec 29
Jiangsu Liba Enterprise Joint-Stock Co., Ltd. to Report Fiscal Year 2023 Results on Apr 26, 2024 Jiangsu Liba Enterprise Joint-Stock Co., Ltd. announced that they will report fiscal year 2023 results on Apr 26, 2024 Board Change • Dec 21
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 6 new directors. 2 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Zhi Yi is the most experienced director on the board, commencing their role in 2020. Independent Director Xiaodong Wang was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Ankündigung • Oct 26
Jiangsu Liba Enterprise Joint-Stock Co., Ltd. (SHSE:603519) announces an Equity Buyback for CNY 50 million worth of its shares. Jiangsu Liba Enterprise Joint-Stock Co., Ltd. (SHSE:603519) announces a share repurchase program. Under the program, the company will repurchase up to CNY 50 million worth of its shares. The shares will be repurchased at a price not more than CNY 15 per share. The repurchased shares will be used for equity incentives plan. The program will be valid for 6 months. Reported Earnings • Oct 18
Third quarter 2023 earnings released: CN¥0.20 loss per share (vs CN¥0.69 profit in 3Q 2022) Third quarter 2023 results: CN¥0.20 loss per share (down from CN¥0.69 profit in 3Q 2022). Revenue: CN¥402.4m (up 18% from 3Q 2022). Net loss: CN¥53.2m (down 129% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Ankündigung • Sep 30
Jiangsu Liba Enterprise Joint-Stock Co., Ltd. to Report Q3, 2023 Results on Oct 18, 2023 Jiangsu Liba Enterprise Joint-Stock Co., Ltd. announced that they will report Q3, 2023 results on Oct 18, 2023 Ankündigung • Jun 28
Jiangsu Liba Enterprise Joint-Stock Co., Ltd. to Report Q2, 2023 Results on Aug 18, 2023 Jiangsu Liba Enterprise Joint-Stock Co., Ltd. announced that they will report Q2, 2023 results on Aug 18, 2023 Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥15.97, the stock trades at a trailing P/E ratio of 5.5x. Average trailing P/E is 29x in the Chemicals industry in China. Total returns to shareholders of 48% over the past three years. Reported Earnings • Apr 26
Full year 2022 earnings released: EPS: CN¥2.12 (vs CN¥0.41 in FY 2021) Full year 2022 results: EPS: CN¥2.12 (up from CN¥0.41 in FY 2021). Revenue: CN¥1.42b (down 11% from FY 2021). Net income: CN¥564.6m (up 414% from FY 2021). Profit margin: 40% (up from 6.9% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Dec 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be CN¥14.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 47%. Buying Opportunity • Nov 21
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be CN¥15.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 47%. 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. 10 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent 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: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 18
Third quarter 2022 earnings released: EPS: CN¥0.69 (vs CN¥0.081 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.69 (up from CN¥0.081 in 3Q 2021). Revenue: CN¥339.8m (down 17% from 3Q 2021). Net income: CN¥184.7m (up CN¥161.9m from 3Q 2021). Profit margin: 54% (up from 5.6% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 22
Second quarter 2022 earnings released: EPS: CN¥1.04 (vs CN¥0.072 in 2Q 2021) Second quarter 2022 results: EPS: CN¥1.04 (up from CN¥0.072 in 2Q 2021). Revenue: CN¥363.5m (up 1.8% from 2Q 2021). Net income: CN¥280.1m (up CN¥262.4m from 2Q 2021). Profit margin: 77% (up from 5.0% in 2Q 2021). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 23
Second quarter 2022 earnings released: EPS: CN¥1.04 (vs CN¥0.072 in 2Q 2021) Second quarter 2022 results: EPS: CN¥1.04 (up from CN¥0.072 in 2Q 2021). Revenue: CN¥363.5m (up 1.8% from 2Q 2021). Net income: CN¥280.1m (up CN¥262.4m from 2Q 2021). Profit margin: 77% (up from 5.0% in 2Q 2021). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. 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. 10 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent 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: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.081 (vs CN¥0.11 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¥407.9m (up 18% from 3Q 2020). Net income: CN¥22.9m (down 20% from 3Q 2020). Profit margin: 5.6% (down from 8.2% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings. Reported Earnings • Aug 25
Second quarter 2021 earnings released: EPS CN¥0.072 (vs CN¥0.092 in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥357.1m (up 34% from 2Q 2020). Net income: CN¥17.7m (down 30% from 2Q 2020). Profit margin: 5.0% (down from 9.5% 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 2% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥15.49, the stock trades at a trailing P/E ratio of 40.2x. Average trailing P/E is 31x in the Chemicals industry in China. Total returns to shareholders of 144% over the past three years. Reported Earnings • Apr 26
Full year 2020 earnings released: EPS CN¥0.43 (vs CN¥0.60 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: CN¥1.30b (up 1.1% from FY 2019). Net income: CN¥95.6m (down 28% from FY 2019). Profit margin: 7.4% (down from 10% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 7% per year. Is New 90 Day High Low • Mar 03
New 90-day high: CN¥16.42 The company is up 3.0% from its price of CN¥15.89 on 03 December 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 13% over the same period. Is New 90 Day High Low • Dec 28
New 90-day low: CN¥13.16 The company is down 2.0% from its price of CN¥13.45 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 Chemicals industry, which is up 14% over the same period. Is New 90 Day High Low • Nov 27
New 90-day high: CN¥17.62 The company is up 31% from its price of CN¥13.48 on 28 August 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 5.0% over the same period. Is New 90 Day High Low • Oct 30
New 90-day high: CN¥15.10 The company is up 8.0% from its price of CN¥13.92 on 31 July 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 2.0% over the same period. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥99.4m, down 31% from the prior year. Total revenue was CN¥1.21b over the last 12 months, down 9.4% from the prior year. Ankündigung • Oct 27
Jiangsu Liba Enterprise Joint-Stock Co., Ltd. to Report Q3, 2020 Results on Oct 29, 2020 Jiangsu Liba Enterprise Joint-Stock Co., Ltd. announced that they will report Q3, 2020 results on Oct 29, 2020 Ankündigung • Jul 17
Jiangsu Liba Enterprise Joint-Stock Co., Ltd. to Report First Half, 2020 Results on Aug 28, 2020 Jiangsu Liba Enterprise Joint-Stock Co., Ltd. announced that they will report first half, 2020 results on Aug 28, 2020