Board Change • Jul 08
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 2 experienced directors. No highly experienced directors. Non-Employee Supervisor Shan Liu is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Annuncio • Jun 30
Chengzhi Co., Ltd. to Report First Half, 2026 Results on Aug 13, 2026 Chengzhi Co., Ltd. announced that they will report first half, 2026 results on Aug 13, 2026 Annuncio • Jun 09
Chengzhi Co., Ltd., Annual General Meeting, Jun 29, 2026 Chengzhi Co., Ltd., Annual General Meeting, Jun 29, 2026, at 14:00 China Standard Time. Location: 17F, Tower B, Innovation Building, Tsinghua Science and Technology Park, Beijing China New Risk • Apr 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 49% 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 Earnings have declined by 50% per year over the past 5 years. 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 (9.2% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.7% net profit margin). Reported Earnings • Apr 15
First quarter 2026 earnings released: EPS: CN¥0.19 (vs CN¥0.069 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.19 (up from CN¥0.069 in 1Q 2025). Revenue: CN¥2.84b (down 5.4% from 1Q 2025). Net income: CN¥232.8m (up 177% from 1Q 2025). Profit margin: 8.2% (up from 2.8% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 7% per year. New Risk • Apr 07
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 8.2% 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: Major Risk Earnings have declined by 35% per year over the past 5 years. 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 (8.2% average weekly change). Profit margins are more than 30% lower than last year (1.0% net profit margin). Annuncio • Mar 31
Chengzhi Co., Ltd. to Report Q1, 2026 Results on Apr 15, 2026 Chengzhi Co., Ltd. announced that they will report Q1, 2026 results on Apr 15, 2026 New Risk • Feb 19
New major risk - Revenue and earnings growth Earnings have declined by 35% 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 Risk Earnings have declined by 35% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (1.0% net profit margin). Annuncio • Dec 31
Chengzhi Co., Ltd. to Report Fiscal Year 2025 Results on Apr 15, 2026 Chengzhi Co., Ltd. announced that they will report fiscal year 2025 results on Apr 15, 2026 Reported Earnings • Oct 25
Third quarter 2025 earnings released: EPS: CN¥0.07 (vs CN¥0.026 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.07 (up from CN¥0.026 in 3Q 2024). Revenue: CN¥2.72b (up 5.7% from 3Q 2024). Net income: CN¥84.5m (up 170% from 3Q 2024). Profit margin: 3.1% (up from 1.2% in 3Q 2024). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. 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 6% per year, which means it is significantly lagging earnings. Annuncio • Sep 30
Chengzhi Co., Ltd. to Report Q3, 2025 Results on Oct 25, 2025 Chengzhi Co., Ltd. announced that they will report Q3, 2025 results on Oct 25, 2025 Reported Earnings • Aug 09
Second quarter 2025 earnings released: CN¥0.053 loss per share (vs CN¥0.027 profit in 2Q 2024) Second quarter 2025 results: CN¥0.053 loss per share (down from CN¥0.027 profit in 2Q 2024). Revenue: CN¥2.98b (up 1.5% from 2Q 2024). Net loss: CN¥64.8m (down 296% from profit in 2Q 2024). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Annuncio • Jul 02
Chengzhi Co., Ltd. to Report First Half, 2025 Results on Aug 08, 2025 Chengzhi Co., Ltd. announced that they will report first half, 2025 results on Aug 08, 2025 Declared Dividend • Jun 04
Dividend of CN¥0.05 announced Dividend of CN¥0.05 is the same as last year. Ex-date: 9th June 2025 Payment date: 9th June 2025 Dividend yield will be 0.6%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (38% earnings payout ratio) but not covered by cash flows (189% cash payout ratio). The dividend has increased by an average of 5.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 44% over the next year, which should provide support to the dividend and adequate earnings cover. New Risk • Apr 24
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.4% Last year net profit margin: 3.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (189% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.4% net profit margin). Annuncio • Apr 18
Chengzhi Co., Ltd. Approves Cash Dividend for 2024 Chengzhi Co., Ltd. announced at its annual general meeting of 2024 held on 16 April 2025, approved the cash dividend of CNY 0.50000000 per 10 shares (tax included). Buy Or Sell Opportunity • Apr 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.3% to CN¥6.83. The fair value is estimated to be CN¥8.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.3% over the last 3 years. Earnings per share has declined by 38%. Revenue is forecast to grow by 58% in 2 years. Earnings are forecast to grow by 75% in the next 2 years. Annuncio • Mar 31
Chengzhi Co., Ltd. to Report Q1, 2025 Results on Apr 24, 2025 Chengzhi Co., Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025 Annuncio • Mar 28
Chengzhi Co., Ltd. Proposes Final Cash Dividend for 2024 Chengzhi Co., Ltd. announced on 27 March 2025 the profit distribution proposal for 2024 as follows: final cash dividend of CNY 0.50000000 per 10 shares (tax included). Reported Earnings • Mar 27
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.19 (up from CN¥0.15 in FY 2023). Revenue: CN¥11.1b (down 11% from FY 2023). Net income: CN¥230.6m (up 30% from FY 2023). Profit margin: 2.1% (up from 1.4% in FY 2023). Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 21%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Chemicals industry in China. 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 16% per year, which means it has not declined as severely as earnings. Annuncio • Mar 27
Chengzhi Co., Ltd., Annual General Meeting, Apr 16, 2025 Chengzhi Co., Ltd., Annual General Meeting, Apr 16, 2025, at 14:00 China Standard Time. Location: 17F, Tower B, Innovation Building, Tsinghua Science and Technology Park, Beijing China Annuncio • Dec 31
Chengzhi Co., Ltd. to Report Fiscal Year 2024 Results on Mar 27, 2025 Chengzhi Co., Ltd. announced that they will report fiscal year 2024 results on Mar 27, 2025 Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: CN¥0.026 (vs CN¥0.14 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.026 (down from CN¥0.14 in 3Q 2023). Revenue: CN¥2.58b (down 26% from 3Q 2023). Net income: CN¥31.3m (down 81% from 3Q 2023). Profit margin: 1.2% (down from 4.8% in 3Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 47 percentage points per year, which is a significant difference in performance. Annuncio • Sep 30
Chengzhi Co., Ltd. to Report Q3, 2024 Results on Oct 25, 2024 Chengzhi Co., Ltd. announced that they will report Q3, 2024 results on Oct 25, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥7.53, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 16x in the Chemicals industry in China. Total loss to shareholders of 53% over the past three years. Reported Earnings • Jul 26
Second quarter 2024 earnings released: EPS: CN¥0.027 (vs CN¥0.017 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.027 (up from CN¥0.017 in 2Q 2023). Revenue: CN¥2.94b (down 7.7% from 2Q 2023). Net income: CN¥33.1m (up 59% from 2Q 2023). Profit margin: 1.1% (up from 0.7% in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance. Annuncio • Jun 29
Chengzhi Co., Ltd. to Report First Half, 2024 Results on Jul 26, 2024 Chengzhi Co., Ltd. announced that they will report first half, 2024 results on Jul 26, 2024 Declared Dividend • May 25
Dividend reduced to CN¥0.05 Dividend of CN¥0.05 is 55% lower than last year. Ex-date: 29th May 2024 Payment date: 29th May 2024 Dividend yield will be 0.6%, which is lower than the industry average of 2.6%. Annuncio • May 25
Chengzhi Co., Ltd. Announces Final Cash Dividend on A Shares for the Year 2023, Payable on 29 May 2024 Chengzhi Co., Ltd. announced final cash dividend/10 shares (tax included) of CNY 0.50000000 on A shares for the year 2023. Record date: 28 May 2024. Ex-date: 29 May 2024. Payment date: 29 May 2024. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥8.95, the stock trades at a trailing P/E ratio of 28x. Average trailing P/E is 35x in the Chemicals industry in China. Total loss to shareholders of 35% over the past three years. New Risk • Apr 26
New major risk - Revenue and earnings growth Earnings have declined by 21% 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 Risk Earnings have declined by 21% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Reported Earnings • Apr 17
First quarter 2024 earnings released: EPS: CN¥0.13 (vs CN¥0.047 loss in 1Q 2023) First quarter 2024 results: EPS: CN¥0.13 (up from CN¥0.047 loss in 1Q 2023). Revenue: CN¥2.72b (down 19% from 1Q 2023). Net income: CN¥154.1m (up CN¥211.0m from 1Q 2023). Profit margin: 5.7% (up from net loss in 1Q 2023). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Annuncio • Apr 05
Chengzhi Co., Ltd. Approves Cash Dividend for 2023 Chengzhi Co., Ltd. at its Annual General Meeting of 2023 held on 02 April 2024, the shareholders approved: cash dividend/10 shares (tax included): CNY 0.50000000 for the year 2023. Annuncio • Mar 30
Chengzhi Co., Ltd. to Report Q1, 2024 Results on Apr 17, 2024 Chengzhi Co., Ltd. announced that they will report Q1, 2024 results on Apr 17, 2024 Annuncio • Mar 14
Chengzhi Co., Ltd., Annual General Meeting, Apr 02, 2024 Chengzhi Co., Ltd., Annual General Meeting, Apr 02, 2024, at 14:00 China Standard Time. Location: 17F, Tower B, Innovation Building, TusPark, Beijing China Agenda: To consider 2023 work report of the board of directors; to 2023 work report of the supervisory committee; to 2023 annual report and its summary; to 2023 annual accounts report; to 2023 profit distribution plan; to 2023 assets write-off and provision for assets impairment; to 2024 application for comprehensive credit line to banks; to 2024 provision of guarantee for controlled subsidiaries; and to consider other matters. Reported Earnings • Mar 13
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.15 (up from CN¥0.044 in FY 2022). Revenue: CN¥12.4b (up 6.0% from FY 2022). Net income: CN¥177.4m (up 236% from FY 2022). Profit margin: 1.4% (up from 0.5% in FY 2022). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 59%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Chemicals industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥6.72, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 13x in the Chemicals industry in China. Total loss to shareholders of 38% over the past three years. Annuncio • Dec 30
Chengzhi Co., Ltd. to Report Fiscal Year 2023 Results on Feb 29, 2024 Chengzhi Co., Ltd. announced that they will report fiscal year 2023 results on Feb 29, 2024 New Risk • Dec 22
New major risk - Revenue and earnings growth Earnings have declined by 22% 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 Risk Earnings have declined by 22% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.14 (vs CN¥0.098 loss in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.14 (up from CN¥0.098 loss in 3Q 2022). Revenue: CN¥3.47b (up 22% from 3Q 2022). Net income: CN¥166.9m (up CN¥285.3m from 3Q 2022). Profit margin: 4.8% (up from net loss in 3Q 2022). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Annuncio • Sep 30
Chengzhi Co., Ltd. to Report Q3, 2023 Results on Oct 27, 2023 Chengzhi Co., Ltd. announced that they will report Q3, 2023 results on Oct 27, 2023 Annuncio • Jul 01
Chengzhi Co., Ltd. to Report First Half, 2023 Results on Aug 12, 2023 Chengzhi Co., Ltd. announced that they will report first half, 2023 results on Aug 12, 2023 Annuncio • Jun 06
Chengzhi Co., Ltd. Announces 2022 Final Profit Distribution Plan to Be Implemented (A Shares), Payable on 09 June 2023 Chengzhi Co., Ltd. announced 2022 final profit distribution plan to be implemented (A shares) of Cash dividend/10 shares (tax included): CNY 1.10000000. Record date: 08 June 2023; Ex-date: 09 June 2023; Payment date: 09 June 2023. Reported Earnings • Mar 26
Full year 2022 earnings released: EPS: CN¥0.044 (vs CN¥0.83 in FY 2021) Full year 2022 results: EPS: CN¥0.044 (down from CN¥0.83 in FY 2021). Revenue: CN¥11.7b (down 3.8% from FY 2021). Net income: CN¥52.9m (down 95% from FY 2021). Profit margin: 0.5% (down from 8.3% in FY 2021). 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 12% per year, which means it is significantly lagging earnings. Board Change • Nov 16
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 2 experienced directors. No highly experienced directors. Independent Director Yaxiong Guo is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 28
Third quarter 2022 earnings released: CN¥0.098 loss per share (vs CN¥0.30 profit in 3Q 2021) Third quarter 2022 results: CN¥0.098 loss per share (down from CN¥0.30 profit in 3Q 2021). Revenue: CN¥2.84b (down 11% from 3Q 2021). Net loss: CN¥118.5m (down 132% from profit in 3Q 2021). 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 14% per year, which means it is significantly lagging earnings. Board Change • Oct 09
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 5 experienced directors. No highly experienced directors. Independent Director Yaxiong Guo is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Jul 25
First half 2022 earnings released: EPS: CN¥0.12 (vs CN¥0.61 in 1H 2021) First half 2022 results: EPS: CN¥0.12 (down from CN¥0.61 in 1H 2021). Revenue: CN¥6.48b (up 1.3% from 1H 2021). Net income: CN¥149.9m (down 80% from 1H 2021). Profit margin: 2.3% (down from 12% in 1H 2021). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Buying Opportunity • Jul 12
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be CN¥12.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 29% in 2 years. Earnings is forecast to decline by 12% in the next 2 years. Buying Opportunity • Jun 27
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 19%. The fair value is estimated to be CN¥13.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 29% in 2 years. Earnings is forecast to decline by 12% in the next 2 years. Buying Opportunity • Jun 09
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¥13.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 29% in 2 years. Earnings is forecast to decline by 12% in the next 2 years. Buying Opportunity • May 24
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 24%. The fair value is estimated to be CN¥13.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 29% in 2 years. Earnings is forecast to decline by 12% in the next 2 years. Reported Earnings • Apr 27
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: CN¥0.12 (down from CN¥0.27 in 1Q 2021). Revenue: CN¥3.36b (up 12% from 1Q 2021). Net income: CN¥146.4m (down 55% from 1Q 2021). Profit margin: 4.4% (down from 11% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 25%. Earnings per share (EPS) also surpassed analyst estimates by 72%. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 21
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: CN¥0.83 (up from CN¥0.29 in FY 2020). Revenue: CN¥12.2b (up 25% from FY 2020). Net income: CN¥1.01b (up 184% from FY 2020). Profit margin: 8.3% (up from 3.6% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 25%. Earnings per share (EPS) also surpassed analyst estimates by 72%. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥13.03, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 19x in the Chemicals industry in China. Total returns to shareholders of 20% over the past three years. Reported Earnings • Oct 20
Third quarter 2021 earnings released: EPS CN¥0.30 (vs CN¥0.20 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥3.17b (up 17% from 3Q 2020). Net income: CN¥365.7m (up 49% from 3Q 2020). Profit margin: 12% (up from 9.1% 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 14% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥17.47, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 19x in the Chemicals industry in China. Total returns to shareholders of 28% over the past three years. Reported Earnings • Jul 27
Second quarter 2021 earnings released: EPS CN¥0.34 (vs CN¥0.042 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥3.41b (up 73% from 2Q 2020). Net income: CN¥416.4m (up CN¥467.2m from 2Q 2020). Profit margin: 12% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. 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 2% per year, which means it is well ahead of earnings. Reported Earnings • Apr 17
First quarter 2021 earnings released: EPS CN¥0.27 (vs CN¥0.13 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥2.99b (up 49% from 1Q 2020). Net income: CN¥322.3m (up CN¥477.8m from 1Q 2020). Profit margin: 11% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 05
Full year 2020 earnings released: EPS CN¥0.29 (vs CN¥0.36 in FY 2019) The company reported a mediocre full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: CN¥9.73b (up 41% from FY 2019). Net income: CN¥355.1m (down 20% from FY 2019). Profit margin: 3.6% (down from 6.4% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 44% 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. Analyst Estimate Surprise Post Earnings • Mar 05
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 25%. Earnings per share (EPS) also surpassed analyst estimates by 72%. Over the next year, revenue is expected to shrink by 14% compared to a 51% growth forecast for the Chemicals industry in China. Is New 90 Day High Low • Mar 04
New 90-day high: CN¥14.38 The company is up 1.0% from its price of CN¥14.27 on 04 December 2020. The Chinese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 16% over the same period. Annuncio • Jan 22
Chengzhi Shareholding Co., Ltd. to Report Fiscal Year 2020 Results on Mar 05, 2021 Chengzhi Shareholding Co., Ltd. announced that they will report fiscal year 2020 results on Mar 05, 2021 Is New 90 Day High Low • Jan 13
New 90-day low: CN¥11.06 The company is down 16% from its price of CN¥13.14 on 15 October 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 11% over the same period. Is New 90 Day High Low • Dec 25
New 90-day low: CN¥12.78 The company is down 1.0% from its price of CN¥12.94 on 25 September 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 10.0% over the same period. Annuncio • Oct 16
Chengzhi Shareholding Co., Ltd. to Report Q3, 2020 Results on Oct 22, 2020 Chengzhi Shareholding Co., Ltd. announced that they will report Q3, 2020 results on Oct 22, 2020 Annuncio • Jul 17
Chengzhi Shareholding Co., Ltd. to Report First Half, 2020 Results on Jul 25, 2020 Chengzhi Shareholding Co., Ltd. announced that they will report first half, 2020 results on Jul 25, 2020 
