Valuation Update With 7 Day Price Move • Jul 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥9.65, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 19x in the Chemicals industry in China. Total loss to shareholders of 29% over the past three years. Annuncio • Jun 30
Shanghai Pret Composites Co., Ltd. to Report First Half, 2026 Results on Aug 26, 2026 Shanghai Pret Composites Co., Ltd. announced that they will report first half, 2026 results on Aug 26, 2026 Declared Dividend • Jun 08
Dividend of CN¥0.055 announced Shareholders will receive a dividend of CN¥0.055. Ex-date: 12th June 2026 Payment date: 12th June 2026 Dividend yield will be 0.5%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (20% 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 7.5% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 37% over the next year, which should provide support to the dividend and adequate earnings cover. New Risk • Apr 25
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 14% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Minor Risk Large one-off items impacting financial results. Annuncio • Apr 24
Shanghai Pret Composites Co., Ltd., Annual General Meeting, May 18, 2026 Shanghai Pret Composites Co., Ltd., Annual General Meeting, May 18, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Shanghai China Reported Earnings • Apr 24
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.34 (up from CN¥0.13 in FY 2024). Revenue: CN¥9.90b (up 19% from FY 2024). Net income: CN¥367.5m (up 160% from FY 2024). Profit margin: 3.7% (up from 1.7% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 39%. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Annuncio • Mar 31
Shanghai Pret Composites Co., Ltd. to Report Q1, 2026 Results on Apr 25, 2026 Shanghai Pret Composites Co., Ltd. announced that they will report Q1, 2026 results on Apr 25, 2026 New Risk • Jan 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 7.4% 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 Debt is not well covered by operating cash flow (5.9% operating cash flow to total debt). Minor Risk Share price has been volatile over the past 3 months (7.4% average weekly change). Annuncio • Dec 31
Shanghai Pret Composites Co., Ltd. to Report Fiscal Year 2025 Results on Apr 24, 2026 Shanghai Pret Composites Co., Ltd. announced that they will report fiscal year 2025 results on Apr 24, 2026 Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥14.42, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 24x in the Chemicals industry in China. Total loss to shareholders of 9.1% over the past three years. Reported Earnings • Oct 28
Third quarter 2025 earnings released: EPS: CN¥0.11 (vs CN¥0.06 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.11 (up from CN¥0.06 in 3Q 2024). Revenue: CN¥2.70b (up 36% from 3Q 2024). Net income: CN¥117.8m (up 81% from 3Q 2024). Profit margin: 4.4% (up from 3.3% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 29% 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, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 8% per year. Annuncio • Sep 30
Shanghai Pret Composites Co., Ltd. to Report Q3, 2025 Results on Oct 28, 2025 Shanghai Pret Composites Co., Ltd. announced that they will report Q3, 2025 results on Oct 28, 2025 Reported Earnings • Aug 25
Second quarter 2025 earnings released: EPS: CN¥0.09 (vs CN¥0.06 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.09 (up from CN¥0.06 in 2Q 2024). Revenue: CN¥2.16b (up 20% from 2Q 2024). Net income: CN¥98.3m (up 50% from 2Q 2024). Profit margin: 4.6% (up from 3.6% in 2Q 2024). Revenue is forecast to grow 30% p.a. on average during the next 2 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 10% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Annuncio • Jul 02
Shanghai Pret Composites Co., Ltd. to Report First Half, 2025 Results on Aug 22, 2025 Shanghai Pret Composites Co., Ltd. announced that they will report first half, 2025 results on Aug 22, 2025 New Risk • Apr 27
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.0% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.7% net profit margin). Annuncio • Apr 22
Shanghai Pret Composites Co., Ltd. Proposes Final Cash Dividend for the Year 2024 Shanghai Pret Composites Co., Ltd. proposed final cash dividend/10 shares (tax included) of CNY 0.50000000 for the year 2024. Major Estimate Revision • Apr 21
Consensus EPS estimates increase by 31% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from CN¥10.7b to CN¥11.4b. EPS estimate increased from CN¥0.42 to CN¥0.55 per share. Net income forecast to grow 331% next year vs 49% growth forecast for Chemicals industry in China. Consensus price target up from CN¥8.70 to CN¥12.00. Share price rose 11% to CN¥9.99 over the past week. Annuncio • Apr 20
Shanghai Pret Composites Co., Ltd., Annual General Meeting, May 12, 2025 Shanghai Pret Composites Co., Ltd., Annual General Meeting, May 12, 2025, at 14:30 China Standard Time. Location: The Company's Meeting Room, Shanghai China Reported Earnings • Apr 14
Full year 2024 earnings released: EPS: CN¥0.13 (vs CN¥0.45 in FY 2023) Full year 2024 results: EPS: CN¥0.13 (down from CN¥0.45 in FY 2023). Revenue: CN¥8.31b (down 4.5% from FY 2023). Net income: CN¥141.1m (down 70% from FY 2023). Profit margin: 1.7% (down from 5.4% in FY 2023). Revenue is forecast to grow 22% 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, earnings per share has increased by 49% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Annuncio • Mar 31
Shanghai Pret Composites Co., Ltd. to Report Q1, 2025 Results on Apr 24, 2025 Shanghai Pret Composites Co., Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025 Annuncio • Dec 31
Shanghai Pret Composites Co., Ltd. to Report Fiscal Year 2024 Results on Apr 19, 2025 Shanghai Pret Composites Co., Ltd. announced that they will report fiscal year 2024 results on Apr 19, 2025 Buy Or Sell Opportunity • Dec 23
Now 22% undervalued Over the last 90 days, the stock has risen 35% to CN¥10.14. The fair value is estimated to be CN¥13.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 63%. Revenue is forecast to grow by 56% in 2 years. Earnings are forecast to grow by 63% in the next 2 years. Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥11.55, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 20x in the Chemicals industry in China. Total loss to shareholders of 12% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥12.79 per share. Buy Or Sell Opportunity • Nov 28
Now 22% undervalued Over the last 90 days, the stock has risen 28% to CN¥9.89. The fair value is estimated to be CN¥12.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 63%. Revenue is forecast to grow by 56% in 2 years. Earnings are forecast to grow by 63% in the next 2 years. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥11.18, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 19x in the Chemicals industry in China. Total loss to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥12.65 per share. Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.06 (vs CN¥0.15 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.06 (down from CN¥0.15 in 3Q 2023). Revenue: CN¥1.99b (down 19% from 3Q 2023). Net income: CN¥65.1m (down 68% from 3Q 2023). Profit margin: 3.3% (down from 8.2% in 3Q 2023). Revenue is forecast to grow 28% 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 63% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. New Risk • Oct 28
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: 3.5% Last year net profit margin: 5.0% 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: Major Risk Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Minor Risk Profit margins are more than 30% lower than last year (3.5% net profit margin). Annuncio • Oct 17
Shanghai Pret Composites Co., Ltd. Announces Interim Cash Dividend Plan on A Shares, Payable on 22 October 2024 Shanghai Pret Composites Co., Ltd. announced interim cash dividend plan on A shares of CNY 0.20024500 per 10 shares (tax included) for 2024. Record date: 21 October 2024. Ex-date: 22 October 2024. Payment date: 22 October 2024. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥7.93, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 16x in the Chemicals industry in China. Total loss to shareholders of 24% over the past three years. Annuncio • Sep 30
Shanghai Pret Composites Co., Ltd. to Report Q3, 2024 Results on Oct 28, 2024 Shanghai Pret Composites Co., Ltd. announced that they will report Q3, 2024 results on Oct 28, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥8.43, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 16x in the Chemicals industry in China. Total loss to shareholders of 22% over the past three years. New Risk • Sep 07
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 23% 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 Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Minor Risk Large one-off items impacting financial results. Major Estimate Revision • Sep 02
Consensus revenue estimates decrease by 18%, EPS upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from CN¥11.0b to CN¥9.06b. EPS estimate increased from CN¥0.62 to CN¥0.74 per share. Net income forecast to grow 98% next year vs 48% growth forecast for Chemicals industry in China. Consensus price target down from CN¥11.80 to CN¥8.70. Share price rose 4.6% to CN¥7.71 over the past week. Reported Earnings • Aug 27
Second quarter 2024 earnings released: EPS: CN¥0.06 (vs CN¥0.10 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.06 (down from CN¥0.10 in 2Q 2023). Revenue: CN¥1.80b (down 16% from 2Q 2023). Net income: CN¥65.6m (down 33% from 2Q 2023). Profit margin: 3.6% (down from 4.6% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 30% 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 63% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Annuncio • Jun 29
Shanghai Pret Composites Co., Ltd. to Report First Half, 2024 Results on Aug 27, 2024 Shanghai Pret Composites Co., Ltd. announced that they will report first half, 2024 results on Aug 27, 2024 Annuncio • Jun 20
Shanghai Pret Composites Co., Ltd. Announces Dividend on Share A for 2023, Payable on 25 June 2024 Shanghai Pret Composites Co., Ltd. announced Cash dividend/10 shares (tax included): CNY 0.50000000 on share A for 2023. Record date: 24 June 2024, Ex-date: 25 June 2024, Payment date: 25 June 2024. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.07 (vs CN¥0.10 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.07 (down from CN¥0.10 in 1Q 2023). Revenue: CN¥1.95b (up 2.0% from 1Q 2023). Net income: CN¥78.5m (down 24% from 1Q 2023). Profit margin: 4.0% (down from 5.4% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Major Estimate Revision • Apr 25
Consensus revenue estimates fall by 18% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥14.2b to CN¥11.7b. EPS estimate fell from CN¥0.697 to CN¥0.53 per share. Net income forecast to grow 25% next year vs 42% growth forecast for Chemicals industry in China. Consensus price target of CN¥11.80 unchanged from last update. Share price fell 5.5% to CN¥10.40 over the past week. Reported Earnings • Apr 24
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.45 (up from CN¥0.20 in FY 2022). Revenue: CN¥8.71b (up 29% from FY 2022). Net income: CN¥465.3m (up 130% from FY 2022). Profit margin: 5.3% (up from 3.0% in FY 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 16%. Earnings per share (EPS) also missed analyst estimates by 18%. Revenue is forecast to grow 37% 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 increased by 20% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Annuncio • Apr 20
Shanghai Pret Composites Co., Ltd., Annual General Meeting, May 10, 2024 Shanghai Pret Composites Co., Ltd., Annual General Meeting, May 10, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Shanghai China Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥10.96, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Chemicals industry in China. Total loss to shareholders of 24% over the past three years. Annuncio • Mar 30
Shanghai Pret Composites Co., Ltd. to Report Q1, 2024 Results on Apr 26, 2024 Shanghai Pret Composites Co., Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Reported Earnings • Mar 21
Full year 2023 earnings released: EPS: CN¥0.45 (vs CN¥0.20 in FY 2022) Full year 2023 results: EPS: CN¥0.45 (up from CN¥0.20 in FY 2022). Revenue: CN¥8.71b (up 29% from FY 2022). Net income: CN¥465.3m (up 130% from FY 2022). Profit margin: 5.3% (up from 3.0% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 37% 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, earnings per share has increased by 20% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥8.05, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Chemicals industry in China. Total loss to shareholders of 45% over the past three years. Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥10.99, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 15x in the Chemicals industry in China. Total loss to shareholders of 34% over the past three years. Annuncio • Dec 30
Shanghai Pret Composites Co., Ltd. to Report Fiscal Year 2023 Results on Apr 19, 2024 Shanghai Pret Composites Co., Ltd. announced that they will report fiscal year 2023 results on Apr 19, 2024 Reported Earnings • Oct 24
Third quarter 2023 earnings released: EPS: CN¥0.15 (vs CN¥0.091 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.15 (up from CN¥0.091 in 3Q 2022). Revenue: CN¥2.45b (up 30% from 3Q 2022). Net income: CN¥200.8m (up 89% from 3Q 2022). Profit margin: 8.2% (up from 5.7% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 25% 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 8% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Reported Earnings • Aug 25
Second quarter 2023 earnings released: EPS: CN¥0.10 (vs CN¥0.035 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.10 (up from CN¥0.035 in 2Q 2022). Revenue: CN¥2.14b (up 94% from 2Q 2022). Net income: CN¥97.8m (up 342% from 2Q 2022). Profit margin: 4.6% (up from 2.0% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 46% 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, earnings per share has fallen by 31% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Price Target Changed • Jun 10
Price target decreased by 15% to CN¥19.00 Down from CN¥22.25, the current price target is provided by 1 analyst. New target price is 40% above last closing price of CN¥13.60. Stock is up 18% over the past year. The company is forecast to post earnings per share of CN¥0.61 for next year compared to CN¥0.20 last year. Annuncio • May 17
Shanghai Pret Composites Co., Ltd. Announces Dividend on Share A for 2022, Payable on May 23, 2023 Shanghai Pret Composites Co., Ltd. announced Cash dividend/10 shares (tax included): CNY 0.50000000 on share A for 2022. Record date: 22 May 2023, Ex-date: 23 May 2023, Payment date: 23 May 2023. Major Estimate Revision • Apr 22
Consensus EPS estimates fall by 19% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from CN¥0.703 to CN¥0.57 per share. Revenue forecast steady at CN¥11.4b. Net income forecast to grow 189% next year vs 38% growth forecast for Chemicals industry in China. Consensus price target down from CN¥22.25 to CN¥21.25. Share price fell 3.9% to CN¥14.34 over the past week. Reported Earnings • Apr 12
Full year 2022 earnings released: EPS: CN¥0.20 (vs CN¥0.024 in FY 2021) Full year 2022 results: EPS: CN¥0.20 (up from CN¥0.024 in FY 2021). Revenue: CN¥6.76b (up 39% from FY 2021). Net income: CN¥202.1m (up CN¥178.3m from FY 2021). Profit margin: 3.0% (up from 0.5% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 41% 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, earnings per share has fallen by 46% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Board Change • Nov 16
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. 4 experienced directors. No highly experienced directors. Chairman of the Supervisory Board Zhang Ying is the most experienced director on the board, commencing their role in 2016. 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: EPS: CN¥0.091 (vs CN¥0.002 loss in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.091 (up from CN¥0.002 loss in 3Q 2021). Revenue: CN¥1.88b (up 48% from 3Q 2021). Net income: CN¥106.3m (up CN¥108.3m from 3Q 2021). Profit margin: 5.7% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 39% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 34% per year, which means it is well ahead of earnings. Annuncio • Sep 15
Shanghai Pret Composites Co., Ltd. Approves Management Appointments Shanghai Pret Composites Co., Ltd. announced at the EGM held on September 13, 2022 that the company approved Election of Wu Hao, Zhou Zhenlun and Cai Ying as non-independent directors; Qian Junlv and Hu Bing as independent directors and Zhang Kai and Shao Xiangsheng as shareholder supervisors. Reported Earnings • Aug 10
Second quarter 2022 earnings released: EPS: CN¥0.035 (vs CN¥0.013 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.035 (up from CN¥0.013 in 2Q 2021). Revenue: CN¥1.10b (up 1.2% from 2Q 2021). Net income: CN¥22.1m (up 80% from 2Q 2021). Profit margin: 2.0% (up from 1.1% in 2Q 2021). Over the next year, revenue is forecast to grow 8.4%, compared to a 41% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 52% per year, which means it is well ahead of earnings. Board Change • May 26
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Shijun Zhao was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • May 10
Shanghai Pret Composites Co., Ltd. Announces Final Cash Dividend on A Shares for the Year 2021, Payable on May 13, 2022 Shanghai Pret Composites Co., Ltd. announced final cash dividend (tax included) of CNY 0.500000 on A shares for the year 2021. Record date is May 12, 2022. Ex-date is May 13, 2022. The dividend will be payable on May 13, 2022. Reported Earnings • Apr 27
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: CN¥0.02 (down from CN¥0.075 in 1Q 2021). Revenue: CN¥1.30b (up 26% from 1Q 2021). Net income: CN¥24.4m (down 67% from 1Q 2021). Profit margin: 1.9% (down from 7.2% in 1Q 2021). Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) missed analyst estimates by 66%. Over the next year, revenue is forecast to grow 6.8%, compared to a 43% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 3 experienced directors. 3 highly experienced directors. Chairman of the Board of Supervisors Qiao Sheng Ding is the most experienced director on the board, commencing their role in 2013. 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 • Apr 08
Shanghai Pret Composites Co., Ltd. Approves the Cash Dividend for the Year 2021 Shanghai Pret Composites Co., Ltd. approved the cash dividend (tax included) of CNY 0.5 per 10 shares for the year 2021, at its AGM held on 06 April 2022. Reported Earnings • Mar 15
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥0.024 (down from CN¥0.39 in FY 2020). Revenue: CN¥4.87b (up 9.5% from FY 2020). Net income: CN¥23.7m (down 94% from FY 2020). Profit margin: 0.5% (down from 8.9% in FY 2020). Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) missed analyst estimates by 66%. Over the next year, revenue is forecast to grow 7.3%, compared to a 43% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS CN¥0.013 (vs CN¥0.23 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥1.09b (down 18% from 2Q 2020). Net income: CN¥12.3m (down 95% from 2Q 2020). Profit margin: 1.1% (down from 17% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Annuncio • Jun 05
Shanghai Pret Composites Co., Ltd. (SZSE:002324) announces an Equity Buyback for CNY 150 million worth of its shares. Shanghai Pret Composites Co., Ltd. (SZSE:002324) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 150 million worth of its A shares. The shares will be repurchased at a price of not more than CNY 21.36 per share. The repurchased shares will be used for equity incentives or employee stock ownership plans. The shares will be repurchased out of own funds of the company. The plan will be valid for 12 months. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS CN¥0.09 (vs CN¥0.063 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: CN¥1.03b (up 54% from 1Q 2020). Net income: CN¥74.2m (up 42% from 1Q 2020). Profit margin: 7.2% (down from 7.8% 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 58% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Apr 16
Consensus EPS estimates fall to CN¥0.50 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from CN¥4.81b to CN¥4.73b. EPS estimate also fell from CN¥0.68 to CN¥0.50. Net income forecast to grow 6.4% next year vs 53% growth forecast for Chemicals industry in China. Consensus price target of CN¥20.00 unchanged from last update. Share price was steady at CN¥16.93 over the past week. Reported Earnings • Apr 11
Full year 2020 earnings released: EPS CN¥0.47 (vs CN¥0.20 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥4.45b (up 24% from FY 2019). Net income: CN¥395.7m (up 140% from FY 2019). Profit margin: 8.9% (up from 4.6% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 04
Full year 2020 earnings released: EPS CN¥0.47 (vs CN¥0.20 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥4.46b (up 24% from FY 2019). Net income: CN¥400.5m (up 143% from FY 2019). Profit margin: 9.0% (up from 4.6% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Mar 04
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 8.2%. Earnings per share (EPS) missed analyst estimates by 15%. Over the next year, revenue is forecast to grow 7.8%, compared to a 51% growth forecast for the Chemicals industry in China. Annuncio • Feb 24
Shanghai Pret Composites Co., Ltd. to Report Fiscal Year 2020 Results on Mar 27, 2021 Shanghai Pret Composites Co., Ltd. announced that they will report fiscal year 2020 results on Mar 27, 2021 Is New 90 Day High Low • Jan 07
New 90-day high: CN¥20.23 The company is up 37% from its price of CN¥14.78 on 09 October 2020. The Chinese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥1.85 per share. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥18.63, the stock is trading at a trailing P/E ratio of 37.2x, up from the previous P/E ratio of 31.6x. This compares to an average P/E of 35x in the Chemicals industry in China. Total returns to shareholders over the past three years are 153%. Is New 90 Day High Low • Dec 21
New 90-day high: CN¥16.26 The company is up 15% from its price of CN¥14.12 on 22 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥1.68 per share. Is New 90 Day High Low • Dec 04
New 90-day high: CN¥15.90 The company is up 11% from its price of CN¥14.28 on 04 September 2020. The Chinese market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥1.48 per share. Is New 90 Day High Low • Nov 09
New 90-day high: CN¥15.52 The company is up 10.0% from its price of CN¥14.12 on 11 August 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥1.53 per share. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥418.5m, up 369% from the prior year. Total revenue was CN¥4.14b over the last 12 months, up 16% from the prior year. Annuncio • Jul 18
Shanghai Pret Composites Co., Ltd. to Report First Half, 2020 Results on Jul 31, 2020 Shanghai Pret Composites Co., Ltd. announced that they will report first half, 2020 results on Jul 31, 2020