Annonce • Apr 17
Hang Xiao Steel Structure Co.,Ltd, Annual General Meeting, May 18, 2026 Hang Xiao Steel Structure Co.,Ltd, Annual General Meeting, May 18, 2026, at 14:00 China Standard Time. Location: 7F, No. 258, Zhonghe Middle Road, Hangzhou, Zhejiang China Annonce • Mar 30
Hang Xiao Steel Structure Co.,Ltd to Report Q1, 2026 Results on Apr 30, 2026 Hang Xiao Steel Structure Co.,Ltd announced that they will report Q1, 2026 results on Apr 30, 2026 Annonce • Dec 26
Hang Xiao Steel Structure Co.,Ltd to Report Fiscal Year 2025 Results on Apr 17, 2026 Hang Xiao Steel Structure Co.,Ltd announced that they will report fiscal year 2025 results on Apr 17, 2026 Annonce • Sep 30
Hang Xiao Steel Structure Co.,Ltd to Report Q3, 2025 Results on Oct 31, 2025 Hang Xiao Steel Structure Co.,Ltd announced that they will report Q3, 2025 results on Oct 31, 2025 Annonce • Jun 30
Hang Xiao Steel Structure Co.,Ltd to Report First Half, 2025 Results on Aug 26, 2025 Hang Xiao Steel Structure Co.,Ltd announced that they will report first half, 2025 results on Aug 26, 2025 Annonce • Apr 18
Hang Xiao Steel Structure Co.,Ltd, Annual General Meeting, May 20, 2025 Hang Xiao Steel Structure Co.,Ltd, Annual General Meeting, May 20, 2025, at 14:00 China Standard Time. Location: 7F, No. 258, Zhonghe Middle Road, Hangzhou, Zhejiang China Annonce • Mar 28
Hang Xiao Steel Structure Co.,Ltd to Report Q1, 2025 Results on Apr 30, 2025 Hang Xiao Steel Structure Co.,Ltd announced that they will report Q1, 2025 results on Apr 30, 2025 Annonce • Dec 27
Hang Xiao Steel Structure Co.,Ltd to Report Fiscal Year 2024 Results on Apr 18, 2025 Hang Xiao Steel Structure Co.,Ltd announced that they will report fiscal year 2024 results on Apr 18, 2025 Reported Earnings • Nov 02
Third quarter 2024 earnings released: EPS: CN¥0.019 (vs CN¥0.02 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.019 (down from CN¥0.02 in 3Q 2023). Revenue: CN¥1.12b (down 60% from 3Q 2023). Net income: CN¥45.4m (down 4.5% from 3Q 2023). Profit margin: 4.0% (up from 1.7% in 3Q 2023). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Construction industry in China. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Annonce • Sep 30
Hang Xiao Steel Structure Co.,Ltd to Report Q3, 2024 Results on Oct 31, 2024 Hang Xiao Steel Structure Co.,Ltd announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥2.53, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 11x in the Construction industry in China. Total loss to shareholders of 27% over the past three years. New Risk • Sep 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 30% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Annonce • Jun 28
Hang Xiao Steel Structure Co.,Ltd to Report First Half, 2024 Results on Aug 23, 2024 Hang Xiao Steel Structure Co.,Ltd announced that they will report first half, 2024 results on Aug 23, 2024 Declared Dividend • Jun 06
Dividend of CN¥0.05 announced Shareholders will receive a dividend of CN¥0.05. Ex-date: 11th June 2024 Payment date: 11th June 2024 Dividend yield will be 1.9%, which is lower than the industry average of 3.4%. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 56% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 03
First quarter 2024 earnings released: EPS: CN¥0.027 (vs CN¥0.027 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.027 (in line with 1Q 2023). Revenue: CN¥1.82b (down 7.7% from 1Q 2023). Net income: CN¥64.0m (flat on 1Q 2023). Profit margin: 3.5% (up from 3.2% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Construction industry in China. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Annonce • Mar 30
Hang Xiao Steel Structure Co.,Ltd, Annual General Meeting, Apr 24, 2024 Hang Xiao Steel Structure Co.,Ltd, Annual General Meeting, Apr 24, 2024, at 14:00 China Standard Time. Location: 7F, No. 258, Zhonghe Middle Road, Hangzhou, Zhejiang China Annonce • Mar 29
Hang Xiao Steel Structure Co.,Ltd to Report Q1, 2024 Results on Apr 30, 2024 Hang Xiao Steel Structure Co.,Ltd announced that they will report Q1, 2024 results on Apr 30, 2024 Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥2.51, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 10x in the Construction industry in China. Total loss to shareholders of 27% over the past three years. Annonce • Dec 29
Hang Xiao Steel Structure Co.,Ltd to Report Fiscal Year 2023 Results on Mar 30, 2024 Hang Xiao Steel Structure Co.,Ltd announced that they will report fiscal year 2023 results on Mar 30, 2024 Annonce • Sep 30
Hang Xiao Steel Structure Co.,Ltd to Report Q3, 2023 Results on Oct 28, 2023 Hang Xiao Steel Structure Co.,Ltd announced that they will report Q3, 2023 results at 3:00 PM, China Standard Time on Oct 28, 2023 Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: CN¥0.058 (vs CN¥0.053 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.058 (up from CN¥0.053 in 2Q 2022). Revenue: CN¥2.91b (up 15% from 2Q 2022). Net income: CN¥136.8m (up 2.6% from 2Q 2022). Profit margin: 4.7% (down from 5.3% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Construction industry in China. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Annonce • Jun 28
Hang Xiao Steel Structure Co.,Ltd to Report First Half, 2023 Results on Aug 26, 2023 Hang Xiao Steel Structure Co.,Ltd announced that they will report first half, 2023 results on Aug 26, 2023 Annonce • May 18
Longyuan International Investment Development Co., Ltd. acquired additional 41% stake in Zhejiang Dinghong Technology Development Co., Ltd. from Hang Xiao Steel Structure Co.,Ltd (SHSE:600477) for CNY 37.2 million. Longyuan International Investment Development Co., Ltd. acquired additional 41% stake in Zhejiang Dinghong Technology Development Co., Ltd. from Hang Xiao Steel Structure Co.,Ltd (SHSE:600477) for CNY 37.2 million on May 16, 2023. Longyuan International Investment Development financed the transaction through its own funds. Zhejiang Dinghong Technology Development Co., Ltd. reported total assets and net assets of CNY 73.71 million and 63.83 million respectively on March 31, 2023. Hang Xiao Steel Structure Co.,Ltd board pf directors approved the transaction. Longyuan International Investment Development Co., Ltd. completed the acquisition of additional 41% stake in Zhejiang Dinghong Technology Development Co., Ltd. from Hang Xiao Steel Structure Co.,Ltd (SHSE:600477) on May 16, 2023. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥5.75, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 9x in the Construction industry in China. Total returns to shareholders of 76% over the past three years. 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. 6 experienced directors. 5 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Jin Luo 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. Reported Earnings • Oct 30
Third quarter 2022 earnings released: EPS: CN¥0.02 (vs CN¥0.084 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.02 (down from CN¥0.084 in 3Q 2021). Revenue: CN¥2.74b (up 14% from 3Q 2021). Net income: CN¥43.1m (down 76% from 3Q 2021). Profit margin: 1.6% (down from 7.5% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Construction industry in China. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: CN¥0.053 (vs CN¥0.042 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.053 (up from CN¥0.042 in 2Q 2021). Revenue: CN¥2.54b (up 2.5% from 2Q 2021). Net income: CN¥133.4m (up 48% from 2Q 2021). Profit margin: 5.3% (up from 3.6% in 2Q 2021). Over the next year, revenue is forecast to grow 27%, compared to a 21% growth forecast for the Construction industry in China. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥6.05, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 11x in the Construction industry in China. Total returns to shareholders of 130% over the past three years. Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥6.06, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 11x in the Construction industry in China. Total returns to shareholders of 119% over the past three years. Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥4.43, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 11x in the Construction industry in China. Total returns to shareholders of 40% over the past three years. Reported Earnings • Apr 29
First quarter 2022 earnings released: EPS: CN¥0.025 (vs CN¥0.041 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.025 (down from CN¥0.041 in 1Q 2021). Revenue: CN¥2.06b (up 10% from 1Q 2021). Net income: CN¥53.2m (down 40% from 1Q 2021). Profit margin: 2.6% (down from 4.8% in 1Q 2021). Over the next year, revenue is forecast to grow 25%, compared to a 17% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 5% 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, 3 were independent directors. The company's board is composed of: 6 new directors. No experienced directors. 4 highly experienced directors. 3 independent directors (4 non-independent directors). Supervisor Zenggen Ning is the most experienced director on the board, commencing their role in 2010. Independent Director Jin Luo 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. Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥4.54, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 12x in the Construction industry in China. Total returns to shareholders of 58% over the past three years. Reported Earnings • Oct 23
Third quarter 2021 earnings released: EPS CN¥0.084 (vs CN¥0.078 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥2.40b (up 4.2% from 3Q 2020). Net income: CN¥180.1m (up 6.4% from 3Q 2020). Profit margin: 7.5% (up from 7.4% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 3% per year. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS CN¥0.042 (vs CN¥0.12 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¥2.48b (up 31% from 2Q 2020). Net income: CN¥90.4m (down 65% from 2Q 2020). Profit margin: 3.6% (down from 14% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 1% per year. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥4.22, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 8x in the Construction industry in China. Total returns to shareholders of 6.0% over the past three years. Reported Earnings • May 04
First quarter 2021 earnings released: EPS CN¥0.041 (vs CN¥0.10 in 1Q 2020) The company reported a decent first quarter result with improved revenues, although earnings and profit margins were weaker. First quarter 2021 results: Revenue: CN¥1.87b (up 108% from 1Q 2020). Net income: CN¥89.3m (down 59% from 1Q 2020). Profit margin: 4.8% (down from 24% in 1Q 2020). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 28
Full year 2020 earnings released: EPS CN¥0.34 (vs CN¥0.22 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥8.14b (up 23% from FY 2019). Net income: CN¥723.9m (up 54% from FY 2019). Profit margin: 8.9% (up from 7.1% in FY 2019). 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 11% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Mar 13
New 90-day high: CN¥4.23 The company is up 5.0% from its price of CN¥4.03 on 11 December 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction 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¥1.37 per share. Is New 90 Day High Low • Jan 07
New 90-day low: CN¥3.61 The company is down 13% from its price of CN¥4.15 on 09 October 2020. The Chinese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥1.37 per share. Is New 90 Day High Low • Dec 16
New 90-day low: CN¥3.97 The company is down 9.0% from its price of CN¥4.35 on 18 September 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction 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¥1.88 per share. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥814.3m, up 84% from the prior year. Total revenue was CN¥7.22b over the last 12 months, up 10% from the prior year. 
