Upcoming Dividend • May 13
Upcoming dividend of HK$0.028 per share Eligible shareholders must have bought the stock before 20 May 2026. Payment date: 18 June 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 6.2%. Lower than top quartile of Hong Kong dividend payers (6.7%). Higher than average of industry peers (4.5%). Reported Earnings • Apr 26
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: HK$0.055 (up from HK$0.20 loss in FY 2024). Revenue: HK$6.73b (down 3.5% from FY 2024). Net income: HK$113.1m (up HK$528.5m from FY 2024). Profit margin: 1.7% (up from net loss in FY 2024). Revenue missed analyst estimates by 6.6%. Earnings per share (EPS) exceeded analyst estimates by 82%. Revenue is forecast to stay flat during the next 2 years compared to a 4.4% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 19
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: HK$0.055 (up from HK$0.20 loss in FY 2024). Revenue: HK$6.73b (down 3.5% from FY 2024). Net income: HK$113.1m (up HK$528.5m from FY 2024). Profit margin: 1.7% (up from net loss in FY 2024). Revenue missed analyst estimates by 6.6%. Earnings per share (EPS) exceeded analyst estimates by 82%. Revenue is forecast to grow 5.5% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Annuncio • Mar 18
China Everbright Greentech Limited, Annual General Meeting, May 15, 2026 China Everbright Greentech Limited, Annual General Meeting, May 15, 2026. Location: library, mezzanine floor, grand hyatt hong kong, 1 harbour road, wan chai, Hong Kong Annuncio • Mar 05
China Everbright Greentech Limited to Report Fiscal Year 2025 Results on Mar 18, 2026 China Everbright Greentech Limited announced that they will report fiscal year 2025 results on Mar 18, 2026 Upcoming Dividend • Sep 10
Upcoming dividend of HK$0.028 per share Eligible shareholders must have bought the stock before 17 September 2025. Payment date: 14 October 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.7%. Lower than top quartile of Hong Kong dividend payers (6.6%). Lower than average of industry peers (4.5%). Reported Earnings • Aug 17
First half 2025 earnings released: EPS: HK$0.092 (vs HK$0.07 in 1H 2024) First half 2025 results: EPS: HK$0.092 (up from HK$0.07 in 1H 2024). Revenue: HK$3.40b (down 3.0% from 1H 2024). Net income: HK$190.8m (up 33% from 1H 2024). Profit margin: 5.6% (up from 4.1% in 1H 2024). Revenue is forecast to grow 5.3% p.a. on average during the next 2 years, compared to a 5.1% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Board Change • Jul 29
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Huaqiang Li was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Annuncio • Jun 13
China Everbright Greentech Limited Appoints Mao Jing as A Member of the Nomination Committee, Effective June 13, 2025 China Everbright Greentech Limited announces that Ms. MAO Jing, a non-executive Director, has been appointed as a member of the nomination committee of the Company with effect from 13 June 2025. Price Target Changed • Apr 25
Price target increased by 11% to HK$0.88 Up from HK$0.80, the current price target is an average from 3 analysts. New target price is 28% above last closing price of HK$0.69. Stock is up 1.5% over the past year. The company is forecast to post earnings per share of HK$0.02 next year compared to a net loss per share of HK$0.20 last year. Reported Earnings • Apr 17
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: HK$0.20 loss per share (further deteriorated from HK$0.15 loss in FY 2023). Revenue: HK$6.98b (down 5.9% from FY 2023). Net loss: HK$415.4m (loss widened 38% from FY 2023). Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) also missed analyst estimates by 182%. Revenue is forecast to grow 3.3% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 19
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: HK$0.20 loss per share (further deteriorated from HK$0.15 loss in FY 2023). Revenue: HK$6.98b (down 5.9% from FY 2023). Net loss: HK$415.4m (loss widened 38% from FY 2023). Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) also missed analyst estimates by 182%. Revenue is forecast to grow 4.0% p.a. on average during the next 2 years, compared to a 4.9% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Annuncio • Mar 19
China Everbright Greentech Limited, Annual General Meeting, May 08, 2025 China Everbright Greentech Limited, Annual General Meeting, May 08, 2025. Location: drawing room, mezzanine floor, grand hyatt hong kong, 1 harbour road., wanchai, Hong Kong Annuncio • Mar 05
China Everbright Greentech Limited to Report Fiscal Year 2024 Results on Mar 18, 2025 China Everbright Greentech Limited announced that they will report fiscal year 2024 results on Mar 18, 2025 Annuncio • Sep 27
China Everbright Greentech Limited Announces Board and Committee Changes The board of directors of China Everbright Greentech Limited announced that, due to the age-related reason, Mr. HUANG Haiqing resigned as the non-executive director and chairman of the Board and the chairman of the nomination committee of the Company with effect from 27 September 2024. Mr. HUANG has been a Non-executive Director and Chairman of the Board and the chairman of the Nomination Committee since June 2022. With effect from 27 September 2024, after considering the recommendation of the Nomination Committee, the Board appointed Mr. WANG Silian as the Non-executive Director and Chairman of the Board and the chairman of the Nomination Committee. Mr. WANG was also appointed in place of Mr. HUANG as the executive director and chairman of the board, the chairman of the nomination committee and a member of the remuneration committee of China Everbright Environment Group Limited, a controlling shareholder of the Company which is listed on the Main Board of the Stock Exchange. Mr. WANG Silian, aged 51, prior to joining the Group, Mr. WANG was the vice chairman and president of China CYTS Tours Holding Co. Ltd. and the chairman of Bravolinks Integrated Marketing Co. Ltd. both of which are connected persons of the Company. He was also the deputy general manager of the Human Resources Department of China Everbright Bank Company Limited, a subsidiary of China Everbright Group Ltd., which is an indirect controlling shareholder of the Company. Mr. WANG holds a master degree in military science from the Dalian Naval Academy of the People's Liberation Army Navy. Upcoming Dividend • Sep 10
Upcoming dividend of HK$0.014 per share Eligible shareholders must have bought the stock before 17 September 2024. Payment date: 15 October 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of Hong Kong dividend payers (8.6%). Lower than average of industry peers (4.2%). Reported Earnings • Aug 19
First half 2024 earnings released: EPS: HK$0.07 (vs HK$0.13 in 1H 2023) First half 2024 results: EPS: HK$0.07 (down from HK$0.13 in 1H 2023). Revenue: HK$3.51b (down 8.2% from 1H 2023). Net income: HK$143.9m (down 46% from 1H 2023). Profit margin: 4.1% (down from 6.9% in 1H 2023). Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Annuncio • Aug 16
China Everbright Greentech Limited Announces Interim Dividend for the Six Months Ended June 30, 2024, Payable on October 15, 2024 China Everbright Greentech Limited announced interim dividend of HKD 0.014 per share for the six months ended June 30, 2024. Ex-dividend date is September 18, 2024. Record date is September 24, 2024. Payment date is October 15, 2024. Annuncio • Jul 26
China Everbright Greentech Limited to Report First Half, 2024 Results on Aug 16, 2024 China Everbright Greentech Limited announced that they will report first half, 2024 results on Aug 16, 2024 Buy Or Sell Opportunity • Jul 02
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 1.4% to HK$0.71. The fair value is estimated to be HK$0.59, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jun 28
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to HK$0.73. The fair value is estimated to be HK$0.59, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • May 10
Now 22% overvalued Over the last 90 days, the stock has fallen 6.4% to HK$0.73. The fair value is estimated to be HK$0.60, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Apr 20
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: HK$0.15 loss per share (down from HK$0.17 profit in FY 2022). Revenue: HK$7.42b (down 7.8% from FY 2022). Net loss: HK$301.7m (down 189% from profit in FY 2022). Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to stay flat during the next 2 years compared to a 5.0% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 37 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Apr 08
Now 20% overvalued Over the last 90 days, the stock has fallen 28% to HK$0.72. The fair value is estimated to be HK$0.60, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Meanwhile, the company became loss making. Price Target Changed • Mar 26
Price target decreased by 12% to HK$0.89 Down from HK$1.01, the current price target is an average from 5 analysts. New target price is 15% above last closing price of HK$0.77. Stock is down 48% over the past year. The company is forecast to post earnings per share of HK$0.11 next year compared to a net loss per share of HK$0.15 last year. Reported Earnings • Mar 16
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: HK$0.15 loss per share (down from HK$0.17 profit in FY 2022). Revenue: HK$7.42b (down 7.8% from FY 2022). Net loss: HK$301.7m (down 189% from profit in FY 2022). Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to stay flat during the next 2 years compared to a 5.2% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 41 percentage points per year, which is a significant difference in performance. Annuncio • Mar 16
China Everbright Greentech Limited, Annual General Meeting, May 14, 2024 China Everbright Greentech Limited, Annual General Meeting, May 14, 2024. Location: Salon I & II, Mezzanine Floor, Grand Hyatt Hong Kong 1 Harbour Road, Wan Chai, Wan Chai Hong Kong Annuncio • Mar 02
China Everbright Greentech Limited to Report Fiscal Year 2023 Results on Mar 15, 2024 China Everbright Greentech Limited announced that they will report fiscal year 2023 results on Mar 15, 2024 Buy Or Sell Opportunity • Mar 01
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.3% to HK$0.74. The fair value is estimated to be HK$0.96, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.6% over the last 3 years. Earnings per share has declined by 52%. Revenue is forecast to decline by 3.8% in 2 years. Earnings are forecast to grow by 84% in the next 2 years. Annuncio • Feb 29
China Everbright Greentech Limited Announces Resignation of GUO Ying as Non-Executive Director The board of directors of China Everbright Greentech Limited announced that, Ms. GUO Ying (‘Ms. GUO’) has reached the retirement age and resigned from the position of the non-executive director of the Company with effect from 29 February 2024. Ms. GUO has confirmed that she has no disagreement with the Board, and save as disclosed in this announcement, there are no other matters relating to Ms. GUO that need to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited (the ‘Stock Exchange’). As at the date of this announcement, the members of the Board comprise: Mr. HUANG Haiqing (Chairman, Non-executive Director); Mr. ZHU Fugang (Chief Executive Officer, Executive Director); Mr. LO Kam Fan (Chief Financial Officer, Executive Director); Mr. SONG Jian (Non-executive Director); Mr. CHOW Siu Lui (Independent Non-executive Director); Prof. YAN Houmin (Independent Non-executive Director); Mr. LI Huaqiang (Independent Non-executive Director). Buy Or Sell Opportunity • Jan 30
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.3% to HK$0.78. The fair value is estimated to be HK$1.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.6% over the last 3 years. Earnings per share has declined by 52%. Revenue is forecast to decline by 0.4% in 2 years. Earnings are forecast to grow by 125% in the next 2 years. New Risk • Jan 17
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 Hong Kong stocks, typically moving 9.8% 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 Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.8% average weekly change). Profit margins are more than 30% lower than last year (3.0% net profit margin). Buying Opportunity • Jan 02
Now 21% undervalued Over the last 90 days, the stock is up 46%. The fair value is estimated to be HK$1.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.6% over the last 3 years. Earnings per share has declined by 52%. Revenue is forecast to grow by 6.3% in 2 years. Earnings is forecast to grow by 194% in the next 2 years. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to HK$1.10, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 5x in the Renewable Energy industry in Hong Kong. Total loss to shareholders of 64% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$1.26 per share. Price Target Changed • Dec 27
Price target decreased by 10% to HK$1.28 Down from HK$1.42, the current price target is an average from 5 analysts. New target price is 28% above last closing price of HK$1.00. Stock is down 49% over the past year. The company is forecast to post earnings per share of HK$0.24 for next year compared to HK$0.16 last year. Upcoming Dividend • Sep 05
Upcoming dividend of HK$0.025 per share at 5.7% yield Eligible shareholders must have bought the stock before 12 September 2023. Payment date: 09 October 2023. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 5.7%. Lower than top quartile of Hong Kong dividend payers (7.6%). Higher than average of industry peers (3.9%). Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$1.04, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 6x in the Renewable Energy industry in Hong Kong. Total loss to shareholders of 67% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$1.39 per share. Price Target Changed • Aug 17
Price target decreased by 9.8% to HK$1.70 Down from HK$1.88, the current price target is an average from 6 analysts. New target price is 48% above last closing price of HK$1.15. Stock is down 32% over the past year. The company is forecast to post earnings per share of HK$0.28 for next year compared to HK$0.16 last year. New Risk • Aug 13
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: 4.0% 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 Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (3.0% net profit margin). Reported Earnings • Aug 12
First half 2023 earnings released: EPS: HK$0.13 (vs HK$0.18 in 1H 2022) First half 2023 results: EPS: HK$0.13 (down from HK$0.18 in 1H 2022). Revenue: HK$3.82b (down 9.5% from 1H 2022). Net income: HK$263.9m (down 29% from 1H 2022). Profit margin: 6.9% (down from 8.8% in 1H 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings. Annuncio • Aug 12
China Everbright Greentech Limited Announces Interim Dividend for the Six Months Ended 30 June 2023, Payable on 9 October 2023 China Everbright Greentech Limited announced interim dividend of HKD 0.025 per share for the six months ended 30 June 2023. Ex-dividend date is 12 September 2023. Record date is 18 September 2023. Payment date is 9 October 2023. Buying Opportunity • Aug 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be HK$1.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.7% over the last 3 years. Earnings per share has declined by 35%. For the next 3 years, revenue is forecast to grow by 8.0% per annum. Earnings is also forecast to grow by 27% per annum over the same time period. Annuncio • Jul 24
China Everbright Greentech Limited to Report First Half, 2023 Results on Aug 11, 2023 China Everbright Greentech Limited announced that they will report first half, 2023 results on Aug 11, 2023 Reported Earnings • Mar 26
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: HK$0.17 (down from HK$0.54 in FY 2021). Revenue: HK$8.05b (down 4.7% from FY 2021). Net income: HK$340.2m (down 69% from FY 2021). Profit margin: 4.2% (down from 13% in FY 2021). The decrease in margin was primarily driven by higher expenses. Revenue exceeded analyst estimates by 5.6%. Earnings per share (EPS) also surpassed analyst estimates by 1.7%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Price Target Changed • Mar 02
Price target decreased by 8.3% to HK$1.88 Down from HK$2.05, the current price target is an average from 6 analysts. New target price is 5.1% above last closing price of HK$1.79. Stock is down 30% over the past year. The company is forecast to post earnings per share of HK$0.16 for next year compared to HK$0.54 last year. Major Estimate Revision • Feb 03
Consensus EPS estimates fall by 21% The consensus outlook for fiscal year 2022 has been updated. 2022 consensus EPS estimate fell from HK$0.331 to HK$0.26. Revenue forecast reaffirmed at HK$7.93b. Net income forecast to shrink 18% next year vs 20% growth forecast for Renewable Energy industry in Hong Kong . Consensus price target of HK$2.05 unchanged from last update. Share price was steady at HK$1.89 over the past week. Major Estimate Revision • Jan 28
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2022 has been updated. 2022 EPS estimate fell from HK$0.331 to HK$0.292 per share. Revenue forecast steady at HK$7.93b. Net income forecast to shrink 11% next year vs 20% growth forecast for Renewable Energy industry in Hong Kong . Consensus price target broadly unchanged at HK$2.05. Share price fell 3.6% to HK$1.90 over the past week. Major Estimate Revision • Jan 15
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from HK$8.26b to HK$7.93b. EPS estimate also fell from HK$0.39 per share to HK$0.33 per share. Net income forecast to shrink 1.3% next year vs 20% growth forecast for Renewable Energy industry in Hong Kong . Consensus price target down from HK$2.15 to HK$2.08. Share price fell 5.9% to HK$1.90 over the past week. Price Target Changed • Jan 04
Price target decreased to HK$2.15 Down from HK$2.36, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of HK$2.05. Stock is down 27% over the past year. The company is forecast to post earnings per share of HK$0.39 for next year compared to HK$0.54 last year. Buying Opportunity • Nov 24
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 10%. The fair value is estimated to be HK$1.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 18%. Revenue is forecast to grow by 15% in 2 years. Earnings is forecast to grow by 31% in the next 2 years. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 8 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Independent Non-Executive Director Philip Tsao was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Aug 31
Upcoming dividend of HK$0.036 per share Eligible shareholders must have bought the stock before 07 September 2022. Payment date: 05 October 2022. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 4.4%. Lower than top quartile of Hong Kong dividend payers (8.2%). Higher than average of industry peers (3.6%). Reported Earnings • Aug 10
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down HK$702.0m from profit in 1H 2021). Profit margin: (down from 16% in 1H 2021). The decrease in margin was driven by lower expenses. Major Estimate Revision • Jul 30
Consensus EPS estimates fall by 38% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from HK$8.90b to HK$8.70b. EPS estimate also fell from HK$0.60 per share to HK$0.37 per share. Net income forecast to shrink 31% next year vs 21% growth forecast for Renewable Energy industry in Hong Kong . Consensus price target down from HK$3.02 to HK$2.90. Share price fell 2.7% to HK$1.78 over the past week. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment deteriorated over the past week After last week's 17% share price decline to HK$1.81, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 7x in the Renewable Energy industry in Hong Kong. Total loss to shareholders of 61% over the past three years. Upcoming Dividend • May 12
Upcoming dividend of HK$0.04 per share Eligible shareholders must have bought the stock before 19 May 2022. Payment date: 10 June 2022. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of Hong Kong dividend payers (7.8%). Higher than average of industry peers (3.5%). Board Change • Apr 27
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. 6 non-independent directors. Independent Non-Executive Director Philip Tsao was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Mar 22
Price target decreased to HK$2.97 Down from HK$3.34, the current price target is an average from 6 analysts. New target price is 35% above last closing price of HK$2.19. Stock is down 31% over the past year. The company is forecast to post earnings per share of HK$0.61 for next year compared to HK$0.54 last year. Major Estimate Revision • Mar 15
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from HK$9.67b to HK$8.86b. EPS estimate also fell from HK$0.71 per share to HK$0.61 per share. Net income forecast to grow 13% next year vs 17% growth forecast for Renewable Energy industry in Hong Kong. Consensus price target down from HK$3.34 to HK$3.17. Share price fell 21% to HK$1.88 over the past week. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorated over the past week After last week's 21% share price decline to HK$1.88, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 8x in the Renewable Energy industry in Hong Kong. Total loss to shareholders of 67% over the past three years. Reported Earnings • Mar 09
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: HK$0.54 (down from HK$0.73 in FY 2020). Revenue: HK$8.45b (down 14% from FY 2020). Net income: HK$1.11b (down 26% from FY 2020). Profit margin: 13% (down from 15% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) also missed analyst estimates by 13%. Over the next year, revenue is forecast to grow 5.4%, compared to a 3.9% growth forecast for the industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Sep 10
Investor sentiment improved over the past week After last week's 17% share price gain to HK$3.15, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 9x in the Renewable Energy industry in Hong Kong. Total loss to shareholders of 46% over the past three years. Upcoming Dividend • Aug 31
Upcoming dividend of HK$0.07 per share Eligible shareholders must have bought the stock before 07 September 2021. Payment date: 04 October 2021. Trailing yield: 5.2%. Lower than top quartile of Hong Kong dividend payers (6.7%). Higher than average of industry peers (4.5%). Reported Earnings • Aug 11
First half 2021 earnings released: EPS HK$0.34 (vs HK$0.40 in 1H 2020) The company reported a soft first half result with weaker earnings and profit margins, although revenues improved. First half 2021 results: Revenue: HK$4.32b (up 1.7% from 1H 2020). Net income: HK$702.0m (down 15% from 1H 2020). Profit margin: 16% (down from 19% in 1H 2020). The decrease in margin was driven by higher expenses. 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 30% per year, which means it is significantly lagging earnings. Major Estimate Revision • Aug 10
Consensus EPS estimates fall to HK$0.66 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from HK$9.75b to HK$8.85b. EPS estimate also fell from HK$0.83 to HK$0.66. Net income forecast to grow 1.8% next year vs 21% growth forecast for Renewable Energy industry in Hong Kong. Consensus price target down from HK$4.34 to HK$3.91. Share price fell 4.4% to HK$2.61 over the past week. Price Target Changed • Aug 10
Price target decreased to HK$3.80 Down from HK$4.22, the current price target is an average from 9 analysts. New target price is 46% above last closing price of HK$2.61. Stock is down 23% over the past year. Major Estimate Revision • Aug 07
Consensus EPS estimates fall to HK$0.78 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from HK$9.94b to HK$9.33b. EPS estimate also fell from HK$0.87 to HK$0.78. Net income forecast to grow 11% next year vs 21% growth forecast for Renewable Energy industry in Hong Kong. Consensus price target down from HK$4.66 to HK$4.06. Share price was steady at HK$2.69 over the past week. Price Target Changed • Aug 05
Price target decreased to HK$4.06 Down from HK$4.53, the current price target is an average from 9 analysts. New target price is 48% above last closing price of HK$2.75. Stock is down 22% over the past year. Upcoming Dividend • May 17
Upcoming dividend of HK$0.07 per share Eligible shareholders must have bought the stock before 24 May 2021. Payment date: 11 June 2021. Trailing yield: 4.7%. Lower than top quartile of Hong Kong dividend payers (6.0%). Lower than average of industry peers (5.9%). Reported Earnings • Apr 02
Full year 2020 earnings released: EPS HK$0.73 (vs HK$0.79 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: HK$9.84b (up 6.0% from FY 2019). Net income: HK$1.50b (down 7.3% from FY 2019). Profit margin: 15% (down from 18% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Price Target Changed • Mar 12
Price target lowered to HK$4.52 Down from HK$4.91, the current price target is an average from 10 analysts. The new target price is 41% above the current share price of HK$3.21. As of last close, the stock is down 7.8% over the past year.