Anuncio • Apr 24
Anhui Conch Cement Company Limited, Annual General Meeting, May 28, 2026 Anhui Conch Cement Company Limited, Annual General Meeting, May 28, 2026, at 14:30 China Standard Time. Location: No. 39, Wenhua Road, Wuhu, Anhui China Anuncio • Mar 30
Anhui Conch Cement Company Limited to Report Q1, 2026 Results on Apr 30, 2026 Anhui Conch Cement Company Limited announced that they will report Q1, 2026 results on Apr 30, 2026 Anuncio • Dec 26
Anhui Conch Cement Company Limited to Report Fiscal Year 2025 Results on Mar 28, 2026 Anhui Conch Cement Company Limited announced that they will report fiscal year 2025 results on Mar 28, 2026 Anuncio • Sep 30
Anhui Conch Cement Company Limited to Report Q3, 2025 Results on Oct 31, 2025 Anhui Conch Cement Company Limited announced that they will report Q3, 2025 results on Oct 31, 2025 Anuncio • Aug 27
Anhui Conch Cement Company Limited announces Annual dividend, payable on September 30, 2025 Anhui Conch Cement Company Limited announced Annual dividend of HKD 0.2630 per share payable on September 30, 2025, ex-date on September 08, 2025 and record date on September 09, 2025. Anuncio • Jun 30
Anhui Conch Cement Company Limited to Report First Half, 2025 Results on Aug 27, 2025 Anhui Conch Cement Company Limited announced that they will report first half, 2025 results on Aug 27, 2025 Anuncio • Apr 24
Anhui Conch Cement Company Limited, Annual General Meeting, May 29, 2025 Anhui Conch Cement Company Limited, Annual General Meeting, May 29, 2025, at 14:30 China Standard Time. Location: no. 39 wenhua road, wuhu city, anhui, China Anuncio • Apr 08
Anhui Conch Cement Company Limited Provides Group Earnings Guidance for the First Quarter of 2025 Anhui Conch Cement Company Limited provided group earnings guidance for the first quarter of 2025. Based on the preliminary calculation by the finance department of the Company in accordance with the China Accounting Standards for Business Enterprises, it is estimated that the Group will realise a net profit attributable to equity shareholders of the Company for the First Quarter of 2025 of approximately RMB 1,808 million, representing an increase of about 20% as compared with that for the corresponding period of the previous year (statutory disclosed data). It is estimated that the Group will realise a net profit after extraordinary items attributable to equity shareholders of the Company for the First Quarter of 2025 of approximately RMB 1,650 million, representing an increase of about 20% as compared with that for the corresponding period of the previous year (statutory disclosed data). MAJOR REASONS FOR THE ESTIMATED INCREASE IN THE RESULTS FOR THIS PERIOD: Mainly due to the decrease in the Company's product costs and increase in sales volume. For the period from 1 January 2024 to 31 March 2024, net profit attributable to equity shareholders of the Company: RMB 1,502 million; net profit after extraordinary items attributable to equity shareholders of the Company: RMB 1,368 million. For the period from 1 January 2024 to 31 March 2024, earnings per share: RMB 0.28 per share. Anuncio • Mar 28
Anhui Conch Cement Company Limited to Report Q1, 2025 Results on Apr 30, 2025 Anhui Conch Cement Company Limited announced that they will report Q1, 2025 results on Apr 30, 2025 Anuncio • Mar 24
Anhui Conch Cement Company Limited Proposes Final Dividend for the Year Ended 31 December 2024, Payable on 30 June 2025 Anhui Conch Cement Company Limited proposed final dividend of RMB 0.71 per share for the year ended 31 December 2024. Payment date is 30 June 2025. Anuncio • Dec 27
Anhui Conch Cement Company Limited to Report Fiscal Year 2024 Results on Mar 25, 2025 Anhui Conch Cement Company Limited announced that they will report fiscal year 2024 results on Mar 25, 2025 Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.36 (vs CN¥0.42 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.36 (down from CN¥0.42 in 3Q 2023). Revenue: CN¥22.6b (down 33% from 3Q 2023). Net income: CN¥1.87b (down 15% from 3Q 2023). Profit margin: 8.3% (up from 6.6% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €2.70, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 10x in the Basic Materials industry in Europe. Total loss to shareholders of 28% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €2.88 per share. Anuncio • Sep 30
Anhui Conch Cement Company Limited to Report Q3, 2024 Results on Oct 30, 2024 Anhui Conch Cement Company Limited announced that they will report Q3, 2024 results on Oct 30, 2024 New Risk • Sep 19
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 German stocks, typically moving 7.9% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.9% average weekly change). Buy Or Sell Opportunity • Sep 19
Now 29% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to €1.88. The fair value is estimated to be €2.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 50%. For the next 3 years, revenue is forecast to grow by 1.0% per annum. Earnings are also forecast to grow by 8.0% per annum over the same time period. Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €2.21, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Basic Materials industry in Europe. Total loss to shareholders of 44% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.04 per share. Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: CN¥0.38 (vs CN¥0.74 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.38 (down from CN¥0.74 in 2Q 2023). Revenue: CN¥24.2b (down 29% from 2Q 2023). Net income: CN¥1.98b (down 49% from 2Q 2023). Profit margin: 8.2% (down from 12% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Anuncio • Aug 21
Anhui Conch Cement Company Limited Approves Election of Zhu Shengli as Deputy Chairman Anhui Conch Cement Company Limited at its board meeting held on August 21, 2024 approved election of Mr. Zhu Shengli as deputy chairman of the ninth session of the Board. Anuncio • Jul 12
Anhui Conch Cement Company Limited Announces Resignation of Wang Jianchao as Deputy Chairman Cum an Executive Director Anhui Conch Cement Company Limited announced that with effect from 12 July 2024, Mr. Wang Jianchao resigned as the Deputy Chairman cum an executive Director due to reaching of the statutory retirement age. As at the date of this announcement, the Board comprises (i) Mr. Yang Jun, Mr. Li Qunfeng and Mr. Wu Tiejun as executive Directors; (ii) Mr. Qu Wenzhou, Ms. Ho Shuk Yee, Samantha and Ms. Zhang Yunyan as independent non-executive Directors. Anuncio • Jun 28
Anhui Conch Cement Company Limited to Report First Half, 2024 Results on Aug 28, 2024 Anhui Conch Cement Company Limited announced that they will report first half, 2024 results on Aug 28, 2024 Anuncio • Jun 08
Anhui Conch Cement Company Limited Approves Ordinary Final Dividend for the Year Ended 31 December 2023, Payable on 03 July 2024 Anhui Conch Cement Company Limited approved ordinary final dividend of RMB 0.96 per share for the Year Ended 31 December 2023. Ex-dividend date is 03 June 2024. Record date is 12 June 2024. Payment date is 03 July 2024. Date of shareholders' approval is 30 May 2024. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €1.96, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Basic Materials industry in Europe. Total loss to shareholders of 49% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.84 per share. Upcoming Dividend • May 27
Upcoming dividend of CN¥0.96 per share Eligible shareholders must have bought the stock before 03 June 2024. Payment date: 03 July 2024. Payout ratio is a comfortable 53% but the company is paying out more than the cash it is generating. Trailing yield: 5.3%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (3.3%). Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €2.48, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Basic Materials industry in Europe. Total loss to shareholders of 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €4.28 per share. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.28 (vs CN¥0.48 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.28 (down from CN¥0.48 in 1Q 2023). Revenue: CN¥21.3b (down 32% from 1Q 2023). Net income: CN¥1.50b (down 41% from 1Q 2023). Profit margin: 7.0% (down from 8.1% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings. Anuncio • Apr 24
Anhui Conch Cement Company Limited, Annual General Meeting, May 30, 2024 Anhui Conch Cement Company Limited, Annual General Meeting, May 30, 2024, at 14:30 China Standard Time. Location: No. 39 Wenhua Road, Anhui, the People's Republic of China Wuhu City China Agenda: To consider and approve the report of the board of directors of the company for the year ended 31 December 2023; to consider and approve the report of the supervisory committee of the company for the year ended 31 December 2023; to consider and approve the appointment of Ernst & Young Hua Ming LLP and Ernst & Young as the PRC and international (financial) auditors of the company for the financial year ending 31 December 2024 respectively, the appointment of Ernst & Young Hua Ming LLP as the internal control auditor of the company for FY2024, and the determination of audit fees of the company for FY2024 of RMB 4.96 million; and to consider other matters. Anuncio • Apr 23
Anhui Conch Cement Company Limited Proposes Final Dividend for the Year Ended 31 December 2023, Payable on 03 July 2024 Anhui Conch Cement Company Limited proposed the payment of a final dividend of RMB 0.96 per share for the Year Ended 31 December 2023. Ex-dividend date is 03 June 2024. Record date is 12 June 2024. Payment date is 03 July 2024. Date of shareholders' approval is 30 May 2024. Anuncio • Mar 29
Anhui Conch Cement Company Limited to Report Q1, 2024 Results on Apr 27, 2024 Anhui Conch Cement Company Limited announced that they will report Q1, 2024 results on Apr 27, 2024 Reported Earnings • Mar 21
Full year 2023 earnings released: EPS: CN¥1.97 (vs CN¥2.96 in FY 2022) Full year 2023 results: EPS: CN¥1.97 (down from CN¥2.96 in FY 2022). Revenue: CN¥141.0b (up 6.8% from FY 2022). Net income: CN¥10.4b (down 33% from FY 2022). Profit margin: 7.4% (down from 12% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 27% per year, which means it has not declined as severely as earnings. Anuncio • Mar 20
Anhui Conch Cement Company Limited Proposes Final Dividend for the Year Ended 31 December 2023, Payable on 03 July 2024 Anhui Conch Cement Company Limited at its board meeting held on 19 March 2024 approved the payment of a final dividend of RMB 0.96 per share (tax inclusive) is proposed for the Year Ended 31 December 2023. Payment date: 03 July 2024. Anuncio • Dec 29
Anhui Conch Cement Company Limited to Report Fiscal Year 2023 Results on Mar 20, 2024 Anhui Conch Cement Company Limited announced that they will report fiscal year 2023 results on Mar 20, 2024 Anuncio • Nov 05
Anhui Conch Cement Company Limited (SEHK:914) announces an Equity Buyback for CNY 600 million worth of its shares. Anhui Conch Cement Company Limited (SEHK:914) announces a share repurchase program. Under the program, the company will repurchase up to CNY 600 million worth of its shares. The shares will be purchased at a price not exceeding CNY 32.30 per share. The purpose of the program is to safeguard value and shareholders’ rights. The program will be funded from company's own funds. The program will be valid for 3 months. Anuncio • Nov 03
Anhui Conch Cement Company Limited Appoints Mr. He Chengfa as A Supervisor of the Ninth Session of the Supervisory Committee Anhui Conch Cement Company Limited elected and appointed Mr. He Chengfa as a Supervisor of the ninth session of the Supervisory Committee at the First Extraordinary General Meeting in 2023 held on 2 November 2023. Mr. He has been elected and appointed as a Supervisor of the ninth session of the Supervisory Committee at the EGM. His term of office became effective from the date of approval by the Shareholders at the EGM (that is 2 November 2023) until the date of expiry of the ninth session of the Supervisory Committee (which is expected to be on 30 May 2025). According to the Articles of Association, Mr. He is entitled to be re-elected at the Company's annual general meeting to serve consecutive terms. Mr. He Chengfa, born in January 1966, a senior engineer. Mr. He graduated from Wuhan Industrial University (now known as Wuhan University of Technology) in the PRC specialising in mechanical design and manufacturing. Mr. He joined the Group in 1990, and had been the deputy engineer-in-chief of Ningguo Cement Plant of the Group, head of the equipment department and deputy general manager of the Company. He has extensive experience in equipment management and corporate management. Mr. He is currently a party member, deputy general manager, executive deputy officer of the technology center of Anhui Conch Holdings Company Limited ("Conch Holdings"), a director and executive deputy general manager of Santan (Anhui) Institute of Science and Technology Co. Ltd. (a subsidiary of Conch Holdings), chairman of the board of directors of Anhui Conch Materials Design Institute Co. Ltd. (a subsidiary of Conch Holdings) and a director of Anhui Conch Information Technology Engineering Co. Ltd. (a subsidiary of Conch Holdings). Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.42 (vs CN¥0.48 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.42 (down from CN¥0.48 in 3Q 2022). Revenue: CN¥33.6b (up 16% from 3Q 2022). Net income: CN¥2.20b (down 14% from 3Q 2022). Profit margin: 6.6% (down from 8.9% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 3.4% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Buying Opportunity • Oct 13
Now 22% undervalued Over the last 90 days, the stock is up 5.6%. The fair value is estimated to be €2.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.8% over the last 3 years. Earnings per share has declined by 29%. For the next 3 years, revenue is forecast to grow by 0.9% per annum. Earnings is also forecast to grow by 11% per annum over the same time period. Anuncio • Sep 30
Anhui Conch Cement Company Limited to Report Q3, 2023 Results on Oct 28, 2023 Anhui Conch Cement Company Limited announced that they will report Q3, 2023 results on Oct 28, 2023 Anuncio • Sep 27
Anhui Conch Cement Company Limited Announces Resignation of Chairman of the Supervisory Committee Anhui Conch Cement Company Limited announced resignation of the Chairman of the Supervisory Committee Mr. Wu Xiaoming, the chairman of the Supervisory Committee cum a Supervisor, tendered a written resignation report on 26 September 2023 to the Supervisory Committee, applying for resignation from his role as the chairman of the Supervisory Committee cum a Supervisor due to his reaching of the statutory retirement age. The Supervisory Committee would like to express its sincere appreciation to Mr. Wu for his contribution to the Company during his term of office. Mr. Wu, the board of directors of the Company and the Supervisory Committee have confirmed that Mr. Wu has no disagreement with the Board and/or the Supervisory Committee, and there are no other matters in connection with Mr. Wu's resignation that need to be brought to the attention of the shareholders of the Company and the Stock Exchange. Buying Opportunity • Sep 19
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €3.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.8% over the last 3 years. Earnings per share has declined by 29%. For the next 3 years, revenue is forecast to grow by 1.3% per annum. Earnings is also forecast to grow by 12% per annum over the same time period. Buying Opportunity • Aug 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 2.9%. The fair value is estimated to be €2.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.8% over the last 3 years. Earnings per share has declined by 29%. For the next 3 years, revenue is forecast to grow by 0.9% per annum. Earnings is also forecast to grow by 11% per annum over the same time period. Reported Earnings • Aug 22
Second quarter 2023 earnings released: EPS: CN¥0.74 (vs CN¥0.93 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.74 (down from CN¥0.93 in 2Q 2022). Revenue: CN¥34.1b (up 11% from 2Q 2022). Net income: CN¥3.92b (down 20% from 2Q 2022). Profit margin: 12% (down from 16% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 3.3% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has fallen by 29% per year whereas the company’s share price has fallen by 28% per year. Anuncio • Jun 28
Anhui Conch Cement Company Limited to Report First Half, 2023 Results on Aug 26, 2023 Anhui Conch Cement Company Limited announced that they will report first half, 2023 results on Aug 26, 2023 Anuncio • Jun 13
Anhui Conch Cement Company Limited Approves the Payment of the Final Dividend, Payable on June 20, 2023 Anhui Conch Cement Company Limited approved the payment of the Final Dividend of RMB 1.48 per share (tax inclusive) at the 2022 annual general meeting of the Company. The Final Dividend will be distributed on 20 June 2023 to the Shareholders whose names appear on the register of members of A Shares of the Company on 19 June 2023 and will be distributed on 30 June 2023 to those whose names appear on the register of members of H Shares of the Company on 12 June 2023. The Final Dividend payable to holders of H Shares shall be paid in Hong Kong dollar. The Hong Kong dollar exchange rate to be adopted shall be the average median rates (HKD 1.00 to RMB 0.90205) of the five business days in the PRC preceding the date of declaration of such dividend (31 May 2023, excluding that date) as announced by the People's Bank of China. Accordingly, the dividend per H Share is HKD 1.64071 (tax inclusive). Upcoming Dividend • May 26
Upcoming dividend of CN¥1.48 per share at 7.5% yield Eligible shareholders must have bought the stock before 02 June 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 59% but the company is not cash flow positive. Trailing yield: 7.5%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (3.7%). Reported Earnings • Mar 29
Full year 2022 earnings released: EPS: CN¥2.96 (vs CN¥6.28 in FY 2021) Full year 2022 results: EPS: CN¥2.96 (down from CN¥6.28 in FY 2021). Revenue: CN¥132.0b (down 21% from FY 2021). Net income: CN¥15.7b (down 53% from FY 2021). Profit margin: 12% (down from 20% in FY 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €3.87, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Basic Materials industry in Europe. Total loss to shareholders of 32% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €7.32 per share. Anuncio • Jan 31
Anhui Conch Cement Company Limited Provides Consolidated Earnings Guidance for the Year Ended 31 December 2022 Anhui Conch Cement Company Limited provided consolidated earnings guidance for the year ended 31 December 2022. The group's net profit for fiscal year 2022 is expected to decrease by RMB 16.634 billion to RMB 19.294 billion, representing a year-on-year reduction of 50% to 58%. Board Change • Nov 16
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: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Samantha Ho 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. Lack of board continuity. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.48 (vs CN¥1.41 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.48 (down from CN¥1.41 in 3Q 2021). Revenue: CN¥29.1b (down 30% from 3Q 2021). Net income: CN¥2.58b (down 65% from 3Q 2021). Profit margin: 8.9% (down from 18% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: CN¥0.93 (vs CN¥1.73 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.93 (down from CN¥1.73 in 2Q 2021). Revenue: CN¥30.8b (down 33% from 2Q 2021). Net income: CN¥4.91b (down 46% from 2Q 2021). Profit margin: 16% (down from 20% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is expected to shrink by 2.0% compared to a 4.1% growth forecast for the Basic Materials industry in Germany. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 9% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €3.98, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 10x in the Basic Materials industry in Europe. Total loss to shareholders of 2.8% over the past three years. Upcoming Dividend • May 26
Upcoming dividend of CN¥2.38 per share Eligible shareholders must have bought the stock before 02 June 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 39% and the cash payout ratio is 96%. Trailing yield: 6.9%. Within top quartile of German dividend payers (4.3%). Higher than average of industry peers (3.8%). Reported Earnings • Apr 29
First quarter 2022 earnings released First quarter 2022 results: Revenue: CN¥25.5b (down 26% from 1Q 2021). Net income: CN¥4.93b (down 15% from 1Q 2021). Profit margin: 19% (up from 17% in 1Q 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 6.4%, compared to a 8.2% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 2% per year. Board Change • Apr 27
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: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Xiaorong Zhang was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Recent Insider Transactions • Nov 05
Staff Representative Supervisor recently bought €266k worth of stock On the 3rd of November, Tiantian Liu bought around 64k shares on-market at roughly €4.19 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Oct 30
Third quarter 2021 earnings released: EPS CN¥1.41 (vs CN¥1.63 in 3Q 2020) The company reported a poor third quarter result with weaker earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: CN¥41.3b (down 17% from 3Q 2020). Net income: CN¥7.44b (down 14% from 3Q 2020). Profit margin: 18% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Executive Departure • Sep 19
Non-Executive Director Feng Ding has left the company On the 17th of September, Feng Ding's tenure as Non-Executive Director ended after 5.3 years in the role. We don't have any record of a personal shareholding under Feng's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 6.50 years. Valuation Update With 7 Day Price Move • Sep 06
Investor sentiment improved over the past week After last week's 15% share price gain to €4.86, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 13x in the Basic Materials industry in Europe. Total returns to shareholders of 17% over the past three years. Reported Earnings • Aug 28
Second quarter 2021 earnings released: EPS CN¥1.72 (vs CN¥2.11 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥46.0b (down 9.5% from 2Q 2020). Net income: CN¥9.14b (down 18% from 2Q 2020). Profit margin: 20% (down from 22% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥4.40, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 13x in the Basic Materials industry in Europe. Total loss to shareholders of 6.1% over the past three years. Upcoming Dividend • May 25
Upcoming dividend of CN¥2.12 per share Eligible shareholders must have bought the stock before 01 June 2021. Payment date: 24 June 2021. Trailing yield: 5.5%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (2.8%). Reported Earnings • Apr 28
First quarter 2021 earnings released The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: CN¥34.4b (up 48% from 1Q 2020). Net income: CN¥5.81b (up 18% from 1Q 2020). Profit margin: 17% (down from 21% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Executive Departure • Apr 24
Chairman Gao Dengbang has left the company On the 22nd of April, Gao Dengbang's tenure as Chairman ended after 4.9 years in the role. We don't have any record of a personal shareholding under Gao's name. A total of 2 executives have left over the last 12 months. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS CN¥6.63 (vs CN¥6.34 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: CN¥176.2b (up 12% from FY 2019). Net income: CN¥35.1b (up 4.6% from FY 2019). Profit margin: 20% (down from 21% 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 20% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 06
Full year 2020 earnings released: EPS CN¥6.63 (vs CN¥6.34 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: CN¥176.2b (up 12% from FY 2019). Net income: CN¥35.1b (up 4.6% from FY 2019). Profit margin: 20% (down from 21% 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 20% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Executive Departure • Feb 04
Independent Non Executive Director has left the company On the 3rd of February, Mianzhi Yang's tenure as Independent Non Executive Director ended after 4.7 years in the role. We don't have any record of a personal shareholding under Mianzhi's name. Mianzhi is the only executive to leave the company over the last 12 months. Is New 90 Day High Low • Jan 30
New 90-day low: €4.74 The company is down 9.0% from its price of €5.20 on 30 October 2020. The German market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 22% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €13.90 per share. Is New 90 Day High Low • Dec 29
New 90-day low: €4.82 The company is down 16% from its price of €5.75 on 30 September 2020. The German market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €13.55 per share. Is New 90 Day High Low • Dec 03
New 90-day low: €5.15 The company is down 17% from its price of €6.20 on 04 September 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €11.62 per share. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥34.5b, up 4.8% from the prior year. Total revenue was CN¥170.3b over the last 12 months, up 5.5% from the prior year. Is New 90 Day High Low • Oct 17
New 90-day low: €5.60 The company is down 9.0% from its price of €6.15 on 17 July 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €11.54 per share. Is New 90 Day High Low • Sep 28
New 90-day low: €5.85 The company is down 1.0% from its price of €5.90 on 30 June 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €10.91 per share.