Declared Dividend • May 11
Dividend of CN¥0.015 announced Shareholders will receive a dividend of CN¥0.015. Ex-date: 13th May 2026 Payment date: 13th May 2026 Dividend yield will be 0.2%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (5% cash payout ratio). The dividend has increased by an average of 5.2% per year over the past 8 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 43% to shift the payout ratio to a potentially unsustainable range, which is more than the 29% EPS decline seen over the last 5 years. New Risk • Apr 12
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.1x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Earnings have declined by 2.4% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.4% net profit margin). Annuncio • Mar 30
Minfeng Special Paper Co.,Ltd. to Report Q1, 2026 Results on Apr 24, 2026 Minfeng Special Paper Co.,Ltd. announced that they will report Q1, 2026 results on Apr 24, 2026 Reported Earnings • Mar 29
Full year 2025 earnings released: EPS: CN¥0.05 (vs CN¥0.20 in FY 2024) Full year 2025 results: EPS: CN¥0.05 (down from CN¥0.20 in FY 2024). Revenue: CN¥1.20b (down 17% from FY 2024). Net income: CN¥16.3m (down 77% from FY 2024). Profit margin: 1.4% (down from 4.9% in FY 2024). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Annuncio • Mar 28
Minfeng Special Paper Co.,Ltd., Annual General Meeting, Apr 24, 2026 Minfeng Special Paper Co.,Ltd., Annual General Meeting, Apr 24, 2026, at 14:00 China Standard Time. Location: No. 288, Yongkang Road, Shendang Town, Haiyan County, Jiaxing, Zhejiang China Annuncio • Dec 26
Minfeng Special Paper Co.,Ltd. to Report Fiscal Year 2025 Results on Mar 28, 2026 Minfeng Special Paper Co.,Ltd. announced that they will report fiscal year 2025 results on Mar 28, 2026 Reported Earnings • Oct 25
Third quarter 2025 earnings released: EPS: CN¥0.01 (vs CN¥0.036 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.01 (down from CN¥0.036 in 3Q 2024). Revenue: CN¥287.3m (down 24% from 3Q 2024). Net income: CN¥3.57m (down 72% from 3Q 2024). Profit margin: 1.2% (down from 3.3% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Annuncio • Sep 30
Minfeng Special Paper Co.,Ltd. to Report Q3, 2025 Results on Oct 25, 2025 Minfeng Special Paper Co.,Ltd. announced that they will report Q3, 2025 results on Oct 25, 2025 Reported Earnings • Aug 18
Second quarter 2025 earnings released: EPS: CN¥0.028 (vs CN¥0.046 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.028 (down from CN¥0.046 in 2Q 2024). Revenue: CN¥301.0m (down 26% from 2Q 2024). Net income: CN¥9.97m (down 38% from 2Q 2024). Profit margin: 3.3% (down from 3.9% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Annuncio • Jun 30
Minfeng Special Paper Co.,Ltd. to Report First Half, 2025 Results on Aug 16, 2025 Minfeng Special Paper Co.,Ltd. announced that they will report first half, 2025 results on Aug 16, 2025 Reported Earnings • May 03
First quarter 2025 earnings released: EPS: CN¥0.015 (vs CN¥0.092 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.015 (down from CN¥0.092 in 1Q 2024). Revenue: CN¥300.4m (down 21% from 1Q 2024). Net income: CN¥5.10m (down 84% from 1Q 2024). Profit margin: 1.7% (down from 8.6% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Annuncio • Mar 28
Minfeng Special Paper Co.,Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Minfeng Special Paper Co.,Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Reported Earnings • Mar 27
Full year 2024 earnings released: EPS: CN¥0.20 (vs CN¥0.13 in FY 2023) Full year 2024 results: EPS: CN¥0.20 (up from CN¥0.13 in FY 2023). Revenue: CN¥1.46b (down 9.8% from FY 2023). Net income: CN¥72.0m (up 54% from FY 2023). Profit margin: 4.9% (up from 2.9% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Annuncio • Mar 26
Minfeng Special Paper Co.,Ltd., Annual General Meeting, Apr 17, 2025 Minfeng Special Paper Co.,Ltd., Annual General Meeting, Apr 17, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Jiaxing, Zhejiang China New Risk • Jan 12
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. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Annuncio • Dec 27
Minfeng Special Paper Co.,Ltd. to Report Fiscal Year 2024 Results on Mar 26, 2025 Minfeng Special Paper Co.,Ltd. announced that they will report fiscal year 2024 results on Mar 26, 2025 Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: CN¥0.036 (vs CN¥0.034 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.036 (up from CN¥0.034 in 3Q 2023). Revenue: CN¥380.2m (down 5.0% from 3Q 2023). Net income: CN¥12.5m (up 6.7% from 3Q 2023). Profit margin: 3.3% (up from 2.9% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Annuncio • Sep 30
Minfeng Special Paper Co.,Ltd. to Report Q3, 2024 Results on Oct 25, 2024 Minfeng Special Paper Co.,Ltd. announced that they will report Q3, 2024 results on Oct 25, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥5.38, the stock trades at a trailing P/E ratio of 23.7x. Average trailing P/E is 21x in the Forestry industry in China. Total returns to shareholders of 9.9% over the past three years. Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: CN¥0.046 (vs CN¥0.033 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.046 (up from CN¥0.033 in 2Q 2023). Revenue: CN¥405.1m (flat on 2Q 2023). Net income: CN¥16.0m (up 32% from 2Q 2023). Profit margin: 3.9% (up from 3.0% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 2% per year. Annuncio • Jun 28
Minfeng Special Paper Co.,Ltd. to Report First Half, 2024 Results on Aug 16, 2024 Minfeng Special Paper Co.,Ltd. announced that they will report first half, 2024 results on Aug 16, 2024 Declared Dividend • Jun 05
Dividend increased to CN¥0.015 Dividend of CN¥0.015 is 50% higher than last year. Ex-date: 7th June 2024 Payment date: 7th June 2024 Dividend yield will be 0.3%, which is lower than the industry average of 2.6%. Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: CN¥0.092 (vs CN¥0.01 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.092 (up from CN¥0.01 in 1Q 2023). Revenue: CN¥378.2m (flat on 1Q 2023). Net income: CN¥32.4m (up CN¥29.1m from 1Q 2023). Profit margin: 8.6% (up from 0.9% in 1Q 2023). 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 1% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥4.28, the stock trades at a trailing P/E ratio of 32.2x. Average trailing P/E is 26x in the Forestry industry in China. Total loss to shareholders of 23% over the past three years. Reported Earnings • Mar 30
Full year 2023 earnings released: EPS: CN¥0.13 (vs CN¥0.04 in FY 2022) Full year 2023 results: EPS: CN¥0.13 (up from CN¥0.04 in FY 2022). Revenue: CN¥1.62b (down 3.2% from FY 2022). Net income: CN¥46.7m (up 203% from FY 2022). Profit margin: 2.9% (up from 0.9% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥4.76, the stock trades at a trailing P/E ratio of 63.1x. Average trailing P/E is 27x in the Forestry industry in China. Total loss to shareholders of 13% over the past three years. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥4.69, the stock trades at a trailing P/E ratio of 62.2x. Average trailing P/E is 31x in the Forestry industry in China. Total loss to shareholders of 3.5% over the past three years. Annuncio • Dec 29
Minfeng Special Paper Co.,Ltd. to Report Fiscal Year 2023 Results on Mar 29, 2024 Minfeng Special Paper Co.,Ltd. announced that they will report fiscal year 2023 results on Mar 29, 2024 Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.034 (vs CN¥0.011 loss in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.034 (up from CN¥0.011 loss in 3Q 2022). Revenue: CN¥400.2m (down 14% from 3Q 2022). Net income: CN¥11.8m (up CN¥15.6m from 3Q 2022). Profit margin: 2.9% (up from net loss in 3Q 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Annuncio • Sep 30
Minfeng Special Paper Co.,Ltd. to Report Q3, 2023 Results on Oct 27, 2023 Minfeng Special Paper Co.,Ltd. announced that they will report Q3, 2023 results on Oct 27, 2023 New Risk • Aug 26
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 37% 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: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.6% net profit margin). Reported Earnings • Aug 18
Second quarter 2023 earnings released: EPS: CN¥0.033 (vs CN¥0.012 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.033 (up from CN¥0.012 in 2Q 2022). Revenue: CN¥405.4m (up 11% from 2Q 2022). Net income: CN¥12.2m (up 186% from 2Q 2022). Profit margin: 3.0% (up from 1.2% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Annuncio • Jun 28
Minfeng Special Paper Co.,Ltd. to Report First Half, 2023 Results on Aug 18, 2023 Minfeng Special Paper Co.,Ltd. announced that they will report first half, 2023 results on Aug 18, 2023 Board Change • Nov 16
No independent 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. No independent directors (3 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: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Oct 28
Third quarter 2022 earnings released: CN¥0.011 loss per share (vs CN¥0.067 profit in 3Q 2021) Third quarter 2022 results: CN¥0.011 loss per share (down from CN¥0.067 profit in 3Q 2021). Revenue: CN¥462.7m (up 30% from 3Q 2021). Net loss: CN¥3.88m (down 116% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Sep 02
Second quarter 2022 earnings released: EPS: CN¥0.012 (vs CN¥0.046 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.012 (down from CN¥0.046 in 2Q 2021). Revenue: CN¥366.3m (up 2.3% from 2Q 2021). Net income: CN¥4.25m (down 74% from 2Q 2021). Profit margin: 1.2% (down from 4.5% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 29
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: CN¥0.045 (up from CN¥0.044 in 1Q 2021). Revenue: CN¥386.9m (up 3.6% from 1Q 2021). Net income: CN¥15.8m (up 1.8% from 1Q 2021). Profit margin: 4.1% (down from 4.2% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) also surpassed analyst estimates. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 7% 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. 12 experienced directors. No highly experienced directors. 3 independent directors (6 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 • Apr 01
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥0.17 (up from CN¥0.14 in FY 2020). Revenue: CN¥1.53b (up 13% from FY 2020). Net income: CN¥58.3m (up 20% from FY 2020). Profit margin: 3.8% (up from 3.6% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) also surpassed analyst estimates. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Dec 17
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥6.86, the stock trades at a trailing P/E ratio of 41.1x. Average trailing P/E is 22x in the Forestry industry in China. Total returns to shareholders of 10% over the past three years. Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment improved over the past week After last week's 24% share price gain to CN¥6.48, the stock trades at a trailing P/E ratio of 38.8x. Average trailing P/E is 22x in the Forestry industry in China. Total returns to shareholders of 3.0% over the past three years. Reported Earnings • Oct 20
Third quarter 2021 earnings released: EPS CN¥0.067 (vs CN¥0.06 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥356.6m (up 4.1% from 3Q 2020). Net income: CN¥23.6m (up 19% from 3Q 2020). Profit margin: 6.6% (up from 5.8% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS CN¥0.046 (vs CN¥0.05 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¥358.1m (up 8.2% from 2Q 2020). Net income: CN¥16.1m (down 8.5% from 2Q 2020). Profit margin: 4.5% (down from 5.3% 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 65% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 01
First quarter 2021 earnings released: EPS CN¥0.044 (vs CN¥0.022 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥373.6m (up 21% from 1Q 2020). Net income: CN¥15.6m (up 99% from 1Q 2020). Profit margin: 4.2% (up from 2.5% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 11
Full year 2020 earnings released: EPS CN¥0.14 (vs CN¥0.04 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¥1.35b (down 3.3% from FY 2019). Net income: CN¥48.5m (up 279% from FY 2019). Profit margin: 3.6% (up from 0.9% in FY 2019). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 25
New 90-day high: CN¥5.94 The company is up 20% from its price of CN¥4.95 on 27 October 2020. The Chinese market is up 12% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Forestry industry, which is also up 20% over the same period. Is New 90 Day High Low • Dec 09
New 90-day high: CN¥5.50 The company is up 6.0% from its price of CN¥5.20 on 10 September 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Forestry industry, which is up 4.0% over the same period. Is New 90 Day High Low • Sep 25
New 90-day low: CN¥4.92 The company is down 2.0% from its price of CN¥5.03 on 24 June 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Forestry industry, which is up 16% over the same period. Annuncio • Jul 09
Minfeng Special Paper Co., Ltd. to Report First Half, 2020 Results on Aug 26, 2020 Minfeng Special Paper Co., Ltd. announced that they will report first half, 2020 results on Aug 26, 2020