Tianshan Material（000877）株式概要天山物資有限公司は、セメント、クリンカー、商業用コンクリートを中国国内および国際的に生産・販売しています。 詳細000877 ファンダメンタル分析スノーフレーク・スコア評価5/6将来の成長3/6過去の実績0/6財務の健全性0/6配当金0/6報酬当社が推定した公正価値より25.6%で取引されている 収益は年間118.11%増加すると予測されています 同業他社や業界と比較して、良好な取引価格 リスク分析利払いは収益で十分にカバーされない すべてのリスクチェックを見る000877 Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair ValueCN¥Current PriceCN¥4.4847.1% 割安 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-7b190b2016201920222025202620282031Revenue CN¥75.5bEarnings CN¥7.1bAdvancedSet Fair ValueView all narrativesTianshan Material Co., Ltd. 競合他社Beijing Oriental Yuhong Waterproof TechnologySymbol: SZSE:002271Market cap: CN¥33.0bHuaxin Building Materials GroupSymbol: SHSE:600801Market cap: CN¥34.1bGansu Shangfeng CementLtdSymbol: SZSE:000672Market cap: CN¥17.8bSichuan Hexie ShuangmaSymbol: SZSE:000935Market cap: CN¥23.9b価格と性能株価の高値、安値、推移の概要Tianshan Material過去の株価現在の株価CN¥4.4852週高値CN¥7.3852週安値CN¥4.30ベータ0.491ヶ月の変化-4.88%3ヶ月変化-15.95%1年変化-3.24%3年間の変化-45.76%5年間の変化-70.97%IPOからの変化-35.63%最新ニュースBoard Change • May 20High number of new and inexperienced directorsThere are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 1 experienced director. 1 highly experienced director. Non-Independent Chairman Xinjun Zhao 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.お知らせ • Mar 31+ 1 more updateTianshan Material Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026Tianshan Material Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026お知らせ • Dec 31Tianshan Material Co., Ltd. to Report Fiscal Year 2025 Results on Mar 26, 2026Tianshan Material Co., Ltd. announced that they will report fiscal year 2025 results on Mar 26, 2026お知らせ • Sep 30Tianshan Material Co., Ltd. to Report Q3, 2025 Results on Oct 24, 2025Tianshan Material Co., Ltd. announced that they will report Q3, 2025 results on Oct 24, 2025お知らせ • Jul 02Tianshan Material Co., Ltd. to Report First Half, 2025 Results on Aug 19, 2025Tianshan Material Co., Ltd. announced that they will report first half, 2025 results on Aug 19, 2025お知らせ • Mar 31Tianshan Material Co., Ltd. to Report Q1, 2025 Results on Apr 24, 2025Tianshan Material Co., Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025最新情報をもっと見るRecent updatesBoard Change • May 20High number of new and inexperienced directorsThere are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 1 experienced director. 1 highly experienced director. Non-Independent Chairman Xinjun Zhao 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.お知らせ • Mar 31+ 1 more updateTianshan Material Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026Tianshan Material Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026お知らせ • Dec 31Tianshan Material Co., Ltd. to Report Fiscal Year 2025 Results on Mar 26, 2026Tianshan Material Co., Ltd. announced that they will report fiscal year 2025 results on Mar 26, 2026お知らせ • Sep 30Tianshan Material Co., Ltd. to Report Q3, 2025 Results on Oct 24, 2025Tianshan Material Co., Ltd. announced that they will report Q3, 2025 results on Oct 24, 2025お知らせ • Jul 02Tianshan Material Co., Ltd. to Report First Half, 2025 Results on Aug 19, 2025Tianshan Material Co., Ltd. announced that they will report first half, 2025 results on Aug 19, 2025お知らせ • Mar 31Tianshan Material Co., Ltd. to Report Q1, 2025 Results on Apr 24, 2025Tianshan Material Co., Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025お知らせ • Mar 27Tianshan Material Co., Ltd., Annual General Meeting, Apr 18, 2025Tianshan Material Co., Ltd., Annual General Meeting, Apr 18, 2025, at 14:30 China Standard Time. Location: No. 70, World Expo Museum Road, Pudong New Area, Shanghai Chinaお知らせ • Feb 13Tianshan Material Co., Ltd. Approves Management AppointmentsTianshan Material Co., Ltd. at its Extraordinary General Meeting of 2025 held on 11 February 2025, approved election of Zhao Xinjun, Yu Yuehua, Fan Liting, Zhang Jiwu and Shen Jun as non-independent directors; election of Kong Weiping and Li Chen as independent director and election of Zhuang Qinxia, Du Guangyuan and Shang Deying as supervisors.お知らせ • Dec 31Tianshan Material Co., Ltd. to Report Fiscal Year 2024 Results on Mar 27, 2025Tianshan Material Co., Ltd. announced that they will report fiscal year 2024 results on Mar 27, 2025Reported Earnings • Oct 26Third quarter 2024 earnings released: CN¥0.044 loss per share (vs CN¥0.011 loss in 3Q 2023)Third quarter 2024 results: CN¥0.044 loss per share (further deteriorated from CN¥0.011 loss in 3Q 2023). Revenue: CN¥21.8b (down 19% from 3Q 2023). Net loss: CN¥334.2m (loss widened 268% from 3Q 2023). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance.お知らせ • Sep 30Tianshan Material Co., Ltd. to Report Q3, 2024 Results on Oct 26, 2024Tianshan Material Co., Ltd. announced that they will report Q3, 2024 results on Oct 26, 2024Reported Earnings • Aug 27Second quarter 2024 earnings released: CN¥0.17 loss per share (vs CN¥0.16 profit in 2Q 2023)Second quarter 2024 results: CN¥0.17 loss per share (down from CN¥0.16 profit in 2Q 2023). Revenue: CN¥23.3b (down 25% from 2Q 2023). Net loss: CN¥1.49b (down 209% from profit in 2Q 2023). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance.New Risk • Aug 27New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.3% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. 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 Risks Interest payments are not well covered by earnings (0.3x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows.お知らせ • Jun 29Tianshan Material Co., Ltd. to Report First Half, 2024 Results on Aug 29, 2024Tianshan Material Co., Ltd. announced that they will report first half, 2024 results on Aug 29, 2024Declared Dividend • May 24Dividend reduced to CN¥0.11Dividend of CN¥0.11 is 58% lower than last year. Ex-date: 29th May 2024 Payment date: 29th May 2024 Dividend yield will be 1.8%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (78% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 1.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 100% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Apr 30First quarter 2024 earnings released: CN¥0.22 loss per share (vs CN¥0.14 loss in 1Q 2023)First quarter 2024 results: CN¥0.22 loss per share (further deteriorated from CN¥0.14 loss in 1Q 2023). Revenue: CN¥16.4b (down 27% from 1Q 2023). Net loss: CN¥1.92b (loss widened 56% from 1Q 2023). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance.Buy Or Sell Opportunity • Apr 30Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 2.7% to CN¥6.44. The fair value is estimated to be CN¥8.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 24% over the last 3 years. Earnings per share has declined by 74%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 171% in the next 2 years.お知らせ • Mar 30Xinjiangtianshan Cement Co.,Ltd to Report Q1, 2024 Results on Apr 30, 2024Xinjiangtianshan Cement Co.,Ltd announced that they will report Q1, 2024 results on Apr 30, 2024お知らせ • Mar 27Xinjiangtianshan Cement Co.,Ltd, Annual General Meeting, Apr 18, 2024Xinjiangtianshan Cement Co.,Ltd, Annual General Meeting, Apr 18, 2024, at 14:30 China Standard Time. Location: No. 70, World Expo Museum Road, Pudong New Area, Shanghai ChinaReported Earnings • Mar 27Full year 2023 earnings released: EPS: CN¥0.23 (vs CN¥0.53 in FY 2022)Full year 2023 results: EPS: CN¥0.23 (down from CN¥0.53 in FY 2022). Revenue: CN¥107.4b (down 19% from FY 2022). Net income: CN¥1.97b (down 57% from FY 2022). Profit margin: 1.8% (down from 3.4% in FY 2022). Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 39 percentage points per year, which is a significant difference in performance.Buy Or Sell Opportunity • Mar 26Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 5.8% to CN¥6.98. The fair value is estimated to be CN¥5.80, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Earnings per share has declined by 55%. For the next 3 years, revenue is forecast to grow by 6.2% per annum. Earnings are also forecast to grow by 46% per annum over the same time period.Buy Or Sell Opportunity • Feb 05Now 21% overvaluedOver the last 90 days, the stock has fallen 6.4% to CN¥6.77. The fair value is estimated to be CN¥5.58, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Earnings per share has declined by 55%. For the next 3 years, revenue is forecast to grow by 6.2% per annum. Earnings are also forecast to grow by 34% per annum over the same time period.お知らせ • Jan 27Xinjiang Tianshan Cement Co., Ltd. Provides Earnings Guidance for the Year Ended December 31, 2023Xinjiang Tianshan Cement Co. Ltd. provided earnings guidance for the year ended December 31, 2023. For the period, the company expects net profit attributable to shareholders of the company of RMB 1,600.00 million to RMB 2,080.00 million, decrease as compared with the same period of last year: 64.78% to 54.21%. Net profit after deducting non-recurring gains or losses of RMB 500.00 million to RMB 1,000.00 million, decrease as compared with the same period of last year: 81.51% to 63.03%. Basic earnings per share of RMB 0.1847 to RMB 0.2401.お知らせ • Dec 30Xinjiangtianshan Cement Co.,Ltd to Report Fiscal Year 2023 Results on Mar 27, 2024Xinjiangtianshan Cement Co.,Ltd announced that they will report fiscal year 2023 results on Mar 27, 2024お知らせ • Oct 29Xinjiangtianshan Cement Co.,Ltd Announces Board ChangesXinjiangtianshan Cement Co.,Ltd announced the election of non-independent directors as follows:-Wang Bing and Yin Zhisong at its Extraordinary General Meeting held on 25 Oct. 2023.Reported Earnings • Oct 26Third quarter 2023 earnings released: CN¥0.011 loss per share (vs CN¥0.067 profit in 3Q 2022)Third quarter 2023 results: CN¥0.011 loss per share (down from CN¥0.067 profit in 3Q 2022). Revenue: CN¥26.9b (down 19% from 3Q 2022). Net loss: CN¥90.9m (down 116% from profit in 3Q 2022). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings.お知らせ • Sep 30Xinjiangtianshan Cement Co.,Ltd to Report Q3, 2023 Results on Oct 26, 2023Xinjiangtianshan Cement Co.,Ltd announced that they will report Q3, 2023 results on Oct 26, 2023Reported Earnings • Aug 24Second quarter 2023 earnings released: EPS: CN¥0.16 (vs CN¥0.28 in 2Q 2022)Second quarter 2023 results: EPS: CN¥0.16 (down from CN¥0.28 in 2Q 2022). Revenue: CN¥31.1b (down 17% from 2Q 2022). Net income: CN¥1.37b (down 44% from 2Q 2022). Profit margin: 4.4% (down from 6.6% in 2Q 2022). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings.お知らせ • Jul 13Xinjiang Tianshan Cement Co., Ltd. Provides Earnings Guidance for the Period from 1 January 2023 to 30 June 2023Xinjiang Tianshan Cement Co. Ltd. provides earnings guidance for the period from 1 January 2023 to 30 June 2023. Net profit attributable to shareholders of Tianshan Cement of RMB 100.00 million to RMB 150.00 million. Basic earnings per share RMB 0.0115 to RMB 0.0173.お知らせ • May 27Xinjiangtianshan Cement Co.,Ltd Announces Final Dividend on share A for 2022, Payable on June 2, 2023Xinjiangtianshan Cement Co.,Ltd announced final Cash dividend/10 shares (tax included): CNY 2.70000000 on share A for 2022. Record date: 01 June 2023, Ex-date: 02 June 2023, Payment date: 02 June 2023.Reported Earnings • Mar 22Full year 2022 earnings released: EPS: CN¥0.53 (vs CN¥1.57 in FY 2021)Full year 2022 results: EPS: CN¥0.53 (down from CN¥1.57 in FY 2021). Revenue: CN¥132.6b (down 22% from FY 2021). Net income: CN¥4.54b (down 64% from FY 2021). Profit margin: 3.4% (down from 7.4% in FY 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.Board Change • Nov 16Less than half of directors are independentThere are 9 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 9 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Lei Zhan is the most experienced director on the board, commencing their role in 2018. Independent Director Xiangzhong Kong was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.Reported Earnings • Oct 30Third quarter 2022 earnings released: EPS: CN¥0.067 (vs CN¥0.42 in 3Q 2021)Third quarter 2022 results: EPS: CN¥0.067 (down from CN¥0.42 in 3Q 2021). Revenue: CN¥33.2b (down 71% from 3Q 2021). Net income: CN¥570.3m (down 94% from 3Q 2021). Profit margin: 1.7% (down from 8.0% in 3Q 2021). Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.Reported Earnings • Aug 24Second quarter 2022 earnings released: EPS: CN¥0.28 (vs CN¥0.63 in 2Q 2021)Second quarter 2022 results: EPS: CN¥0.28. Revenue: CN¥37.2b (up CN¥34.1b from 2Q 2021). Net income: CN¥2.46b (up 271% from 2Q 2021). Profit margin: 6.6% (down from 21% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is expected to shrink by 14% compared to a 16% growth forecast for the Basic Materials industry in China.Board Change • Jul 02Less than half of directors are independentThere are 9 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 9 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Lei Zhan is the most experienced director on the board, commencing their role in 2018. Independent Director Xiangzhong Kong was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.Reported Earnings • Apr 27First quarter 2022 earnings released: EPS: CN¥0.12 (vs CN¥0.17 in 1Q 2021)First quarter 2022 results: EPS: CN¥0.12 (down from CN¥0.17 in 1Q 2021). Revenue: CN¥28.3b (down 1.8% from 1Q 2021). Net income: CN¥1.02b (down 23% from 1Q 2021). Profit margin: 3.6% (down from 4.6% in 1Q 2021). Over the next year, revenue is forecast to grow 2.5%, compared to a 18% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 2% per year.Reported Earnings • Oct 31Third quarter 2021 earnings released: EPS CN¥0.42 (vs CN¥0.45 in 3Q 2020)The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: CN¥114.3b (up CN¥111.8b from 3Q 2020). Net income: CN¥9.13b (up CN¥8.67b from 3Q 2020). Profit margin: 8.0% (down from 19% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Sep 29Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to CN¥14.40, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Basic Materials industry in China. Total returns to shareholders of 102% over the past three years.Valuation Update With 7 Day Price Move • Sep 06Investor sentiment improved over the past weekAfter last week's 16% share price gain to CN¥16.49, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Basic Materials industry in China. Total returns to shareholders of 131% over the past three years.Reported Earnings • Aug 22Second quarter 2021 earnings released: EPS CN¥0.63 (vs CN¥0.67 in 2Q 2020)The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥3.13b (up 2.2% from 2Q 2020). Net income: CN¥663.1m (down 6.1% from 2Q 2020). Profit margin: 21% (down from 23% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 22% per year.Valuation Update With 7 Day Price Move • Aug 21Investor sentiment improved over the past weekAfter last week's 18% share price gain to CN¥16.04, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Basic Materials industry in China. Total returns to shareholders of 100% over the past three years.Board Change • Jul 31High number of new directorsIndependent Director Xiangzhong Kong was the last director to join the board, commencing their role in 2021.Reported Earnings • Apr 17First quarter 2021 earnings released: EPS CN¥0.084 (vs CN¥0.028 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¥999.3m (up 87% from 1Q 2020). Net income: CN¥87.5m (up CN¥117.4m from 1Q 2020). Profit margin: 8.8% (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 increased by 27% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.Reported Earnings • Mar 12Full year 2020 earnings released: EPS CN¥1.45 (vs CN¥1.56 in FY 2019)The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: CN¥8.69b (down 10% from FY 2019). Net income: CN¥1.52b (down 7.3% from FY 2019). Profit margin: 17% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.Analyst Estimate Surprise Post Earnings • Mar 12Revenue misses expectationsRevenue missed analyst estimates by 22%. Over the next year, revenue is forecast to grow 40%, compared to a 22% growth forecast for the Basic Materials industry in China.Valuation Update With 7 Day Price Move • Mar 11Investor sentiment deteriorated over the past weekAfter last week's 21% share price decline to CN¥15.05, the stock is trading at a trailing P/E ratio of 9.9x, down from the previous P/E ratio of 12.5x. This compares to an average P/E of 14x in the Basic Materials industry in China. Total returns to shareholders over the past three years are 42%.Is New 90 Day High Low • Mar 04New 90-day high: CN¥18.01The company is up 11% from its price of CN¥16.24 on 04 December 2020. The Chinese market is up 4.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Basic Materials industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥44.50 per share.Valuation Update With 7 Day Price Move • Feb 23Investor sentiment improved over the past weekAfter last week's 15% share price gain to CN¥16.16, the stock is trading at a trailing P/E ratio of 10.6x, up from the previous P/E ratio of 9.2x. This compares to an average P/E of 16x in the Basic Materials industry in China. Total returns to shareholders over the past three years are 64%.Is New 90 Day High Low • Feb 02New 90-day low: CN¥14.48The company is down 7.0% from its price of CN¥15.54 on 05 November 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥44.71 per share.Is New 90 Day High Low • Dec 29New 90-day low: CN¥14.61The company is down 16% from its price of CN¥17.39 on 30 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 Basic Materials industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥44.72 per share.Valuation Update With 7 Day Price Move • Nov 17Market bids up stock over the past weekAfter last week's 17% share price gain to CN¥17.97, the stock is trading at a trailing P/E ratio of 12.3x, up from the previous P/E ratio of 10.5x. This compares to an average P/E of 16x in the Basic Materials industry in China. Total returns to shareholders over the past three years are 92%.Valuation Update With 7 Day Price Move • Nov 13Market bids up stock over the past weekAfter last week's 17% share price gain to CN¥17.83, the stock is trading at a trailing P/E ratio of 11.1x, up from the previous P/E ratio of 9.5x. This compares to an average P/E of 16x in the Basic Materials industry in China. Total returns to shareholders over the past three years are 86%.Is New 90 Day High Low • Oct 30New 90-day low: CN¥14.85The company is down 18% from its price of CN¥18.02 on 24 July 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥36.83 per share.Reported Earnings • Oct 28Third quarter earnings releasedOver the last 12 months the company has reported total profits of CN¥1.60b, down 3.5% from the prior year. Total revenue was CN¥8.56b over the last 12 months, down 10% from the prior year.Is New 90 Day High Low • Oct 14New 90-day low: CN¥17.18The company is down 2.0% from its price of CN¥17.53 on 16 July 2020. The Chinese market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥69.29 per share.株主還元000877CN Basic MaterialsCN 市場7D-0.2%0.7%-0.04%1Y-3.2%36.3%34.9%株主還元を見る業界別リターン: 000877過去 1 年間で36.3 % の収益を上げたCN Basic Materials業界を下回りました。リターン対市場: 000877は、過去 1 年間で34.9 % のリターンを上げたCN市場を下回りました。価格変動Is 000877's price volatile compared to industry and market?000877 volatility000877 Average Weekly Movement3.9%Basic Materials Industry Average Movement5.9%Market Average Movement6.4%10% most volatile stocks in CN Market10.1%10% least volatile stocks in CN Market4.2%安定した株価: 000877 、 CN市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: 000877の 週次ボラティリティ ( 4% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト199851,423Gaopeng Manwww.sinoma-tianshan.cn天山物資有限公司は、セメント、クリンカー、商業用コンクリートを中国国内外に生産・販売している。ポルトランドセメント、普通ポルトランドセメント、スルホアルミネートセメント、油井セメント、水硬セメント、高温重油セメント、耐硫酸塩セメント、道路用ケイ酸塩セメント、超微細ケイ酸塩ポルトランドセメント、原子力工学用ポルトランドセメント、海洋工学用セメント、中低温ケイ酸塩セメント、その他の特殊セメントを提供し、工業、農業、水利、交通、土木、都市などの様々な建設プロジェクトで使用されている。同社はまた、プレストレス鉄筋コンクリートやセルフストレス鉄筋コンクリートの部材、一般建築物、高層建築物、高速道路、トンネルなどのエンジニアリング・プロジェクト用の従来型の商業用コンクリートや高強度コンクリートも提供している。また、固形廃棄物および廃水事業にも携わっている。同社は1998年に設立され、中国・上海に本社を置く。以前は新江天山セメント有限公司として知られ、2024年4月に天山マテリアル有限公司に社名を変更した。天山材 料有限公司は中国建築材料有限公司の子会社である。もっと見るTianshan Material Co., Ltd. 基礎のまとめTianshan Material の収益と売上を時価総額と比較するとどうか。000877 基礎統計学時価総額CN¥31.86b収益（TTM）-CN¥7.29b売上高(TTM)CN¥71.88b0.4xP/Sレシオ-4.4xPER（株価収益率000877 は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計000877 損益計算書（TTM）収益CN¥71.88b売上原価CN¥59.27b売上総利益CN¥12.61bその他の費用CN¥19.90b収益-CN¥7.29b直近の収益報告Mar 31, 2026次回決算日該当なし一株当たり利益（EPS）-1.03グロス・マージン17.55%純利益率-10.14%有利子負債／自己資本比率162.5%000877 の長期的なパフォーマンスは？過去の実績と比較を見るView Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/23 17:18終値2026/05/22 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Tianshan Material Co., Ltd. 1 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。7 アナリスト機関Mingxin SunCitic Securities Co., Ltd.Haowu ChenEverbright Securities Co. Ltd.Yanhe FangHuatai Research4 その他のアナリストを表示
Board Change • May 20High number of new and inexperienced directorsThere are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 1 experienced director. 1 highly experienced director. Non-Independent Chairman Xinjun Zhao 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.
お知らせ • Mar 31+ 1 more updateTianshan Material Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026Tianshan Material Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026
お知らせ • Dec 31Tianshan Material Co., Ltd. to Report Fiscal Year 2025 Results on Mar 26, 2026Tianshan Material Co., Ltd. announced that they will report fiscal year 2025 results on Mar 26, 2026
お知らせ • Sep 30Tianshan Material Co., Ltd. to Report Q3, 2025 Results on Oct 24, 2025Tianshan Material Co., Ltd. announced that they will report Q3, 2025 results on Oct 24, 2025
お知らせ • Jul 02Tianshan Material Co., Ltd. to Report First Half, 2025 Results on Aug 19, 2025Tianshan Material Co., Ltd. announced that they will report first half, 2025 results on Aug 19, 2025
お知らせ • Mar 31Tianshan Material Co., Ltd. to Report Q1, 2025 Results on Apr 24, 2025Tianshan Material Co., Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025
Board Change • May 20High number of new and inexperienced directorsThere are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 1 experienced director. 1 highly experienced director. Non-Independent Chairman Xinjun Zhao 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.
お知らせ • Mar 31+ 1 more updateTianshan Material Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026Tianshan Material Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026
お知らせ • Dec 31Tianshan Material Co., Ltd. to Report Fiscal Year 2025 Results on Mar 26, 2026Tianshan Material Co., Ltd. announced that they will report fiscal year 2025 results on Mar 26, 2026
お知らせ • Sep 30Tianshan Material Co., Ltd. to Report Q3, 2025 Results on Oct 24, 2025Tianshan Material Co., Ltd. announced that they will report Q3, 2025 results on Oct 24, 2025
お知らせ • Jul 02Tianshan Material Co., Ltd. to Report First Half, 2025 Results on Aug 19, 2025Tianshan Material Co., Ltd. announced that they will report first half, 2025 results on Aug 19, 2025
お知らせ • Mar 31Tianshan Material Co., Ltd. to Report Q1, 2025 Results on Apr 24, 2025Tianshan Material Co., Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025
お知らせ • Mar 27Tianshan Material Co., Ltd., Annual General Meeting, Apr 18, 2025Tianshan Material Co., Ltd., Annual General Meeting, Apr 18, 2025, at 14:30 China Standard Time. Location: No. 70, World Expo Museum Road, Pudong New Area, Shanghai China
お知らせ • Feb 13Tianshan Material Co., Ltd. Approves Management AppointmentsTianshan Material Co., Ltd. at its Extraordinary General Meeting of 2025 held on 11 February 2025, approved election of Zhao Xinjun, Yu Yuehua, Fan Liting, Zhang Jiwu and Shen Jun as non-independent directors; election of Kong Weiping and Li Chen as independent director and election of Zhuang Qinxia, Du Guangyuan and Shang Deying as supervisors.
お知らせ • Dec 31Tianshan Material Co., Ltd. to Report Fiscal Year 2024 Results on Mar 27, 2025Tianshan Material Co., Ltd. announced that they will report fiscal year 2024 results on Mar 27, 2025
Reported Earnings • Oct 26Third quarter 2024 earnings released: CN¥0.044 loss per share (vs CN¥0.011 loss in 3Q 2023)Third quarter 2024 results: CN¥0.044 loss per share (further deteriorated from CN¥0.011 loss in 3Q 2023). Revenue: CN¥21.8b (down 19% from 3Q 2023). Net loss: CN¥334.2m (loss widened 268% from 3Q 2023). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance.
お知らせ • Sep 30Tianshan Material Co., Ltd. to Report Q3, 2024 Results on Oct 26, 2024Tianshan Material Co., Ltd. announced that they will report Q3, 2024 results on Oct 26, 2024
Reported Earnings • Aug 27Second quarter 2024 earnings released: CN¥0.17 loss per share (vs CN¥0.16 profit in 2Q 2023)Second quarter 2024 results: CN¥0.17 loss per share (down from CN¥0.16 profit in 2Q 2023). Revenue: CN¥23.3b (down 25% from 2Q 2023). Net loss: CN¥1.49b (down 209% from profit in 2Q 2023). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance.
New Risk • Aug 27New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.3% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. 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 Risks Interest payments are not well covered by earnings (0.3x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows.
お知らせ • Jun 29Tianshan Material Co., Ltd. to Report First Half, 2024 Results on Aug 29, 2024Tianshan Material Co., Ltd. announced that they will report first half, 2024 results on Aug 29, 2024
Declared Dividend • May 24Dividend reduced to CN¥0.11Dividend of CN¥0.11 is 58% lower than last year. Ex-date: 29th May 2024 Payment date: 29th May 2024 Dividend yield will be 1.8%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (78% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 1.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 100% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Apr 30First quarter 2024 earnings released: CN¥0.22 loss per share (vs CN¥0.14 loss in 1Q 2023)First quarter 2024 results: CN¥0.22 loss per share (further deteriorated from CN¥0.14 loss in 1Q 2023). Revenue: CN¥16.4b (down 27% from 1Q 2023). Net loss: CN¥1.92b (loss widened 56% from 1Q 2023). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance.
Buy Or Sell Opportunity • Apr 30Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 2.7% to CN¥6.44. The fair value is estimated to be CN¥8.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 24% over the last 3 years. Earnings per share has declined by 74%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 171% in the next 2 years.
お知らせ • Mar 30Xinjiangtianshan Cement Co.,Ltd to Report Q1, 2024 Results on Apr 30, 2024Xinjiangtianshan Cement Co.,Ltd announced that they will report Q1, 2024 results on Apr 30, 2024
お知らせ • Mar 27Xinjiangtianshan Cement Co.,Ltd, Annual General Meeting, Apr 18, 2024Xinjiangtianshan Cement Co.,Ltd, Annual General Meeting, Apr 18, 2024, at 14:30 China Standard Time. Location: No. 70, World Expo Museum Road, Pudong New Area, Shanghai China
Reported Earnings • Mar 27Full year 2023 earnings released: EPS: CN¥0.23 (vs CN¥0.53 in FY 2022)Full year 2023 results: EPS: CN¥0.23 (down from CN¥0.53 in FY 2022). Revenue: CN¥107.4b (down 19% from FY 2022). Net income: CN¥1.97b (down 57% from FY 2022). Profit margin: 1.8% (down from 3.4% in FY 2022). Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 39 percentage points per year, which is a significant difference in performance.
Buy Or Sell Opportunity • Mar 26Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 5.8% to CN¥6.98. The fair value is estimated to be CN¥5.80, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Earnings per share has declined by 55%. For the next 3 years, revenue is forecast to grow by 6.2% per annum. Earnings are also forecast to grow by 46% per annum over the same time period.
Buy Or Sell Opportunity • Feb 05Now 21% overvaluedOver the last 90 days, the stock has fallen 6.4% to CN¥6.77. The fair value is estimated to be CN¥5.58, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Earnings per share has declined by 55%. For the next 3 years, revenue is forecast to grow by 6.2% per annum. Earnings are also forecast to grow by 34% per annum over the same time period.
お知らせ • Jan 27Xinjiang Tianshan Cement Co., Ltd. Provides Earnings Guidance for the Year Ended December 31, 2023Xinjiang Tianshan Cement Co. Ltd. provided earnings guidance for the year ended December 31, 2023. For the period, the company expects net profit attributable to shareholders of the company of RMB 1,600.00 million to RMB 2,080.00 million, decrease as compared with the same period of last year: 64.78% to 54.21%. Net profit after deducting non-recurring gains or losses of RMB 500.00 million to RMB 1,000.00 million, decrease as compared with the same period of last year: 81.51% to 63.03%. Basic earnings per share of RMB 0.1847 to RMB 0.2401.
お知らせ • Dec 30Xinjiangtianshan Cement Co.,Ltd to Report Fiscal Year 2023 Results on Mar 27, 2024Xinjiangtianshan Cement Co.,Ltd announced that they will report fiscal year 2023 results on Mar 27, 2024
お知らせ • Oct 29Xinjiangtianshan Cement Co.,Ltd Announces Board ChangesXinjiangtianshan Cement Co.,Ltd announced the election of non-independent directors as follows:-Wang Bing and Yin Zhisong at its Extraordinary General Meeting held on 25 Oct. 2023.
Reported Earnings • Oct 26Third quarter 2023 earnings released: CN¥0.011 loss per share (vs CN¥0.067 profit in 3Q 2022)Third quarter 2023 results: CN¥0.011 loss per share (down from CN¥0.067 profit in 3Q 2022). Revenue: CN¥26.9b (down 19% from 3Q 2022). Net loss: CN¥90.9m (down 116% from profit in 3Q 2022). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings.
お知らせ • Sep 30Xinjiangtianshan Cement Co.,Ltd to Report Q3, 2023 Results on Oct 26, 2023Xinjiangtianshan Cement Co.,Ltd announced that they will report Q3, 2023 results on Oct 26, 2023
Reported Earnings • Aug 24Second quarter 2023 earnings released: EPS: CN¥0.16 (vs CN¥0.28 in 2Q 2022)Second quarter 2023 results: EPS: CN¥0.16 (down from CN¥0.28 in 2Q 2022). Revenue: CN¥31.1b (down 17% from 2Q 2022). Net income: CN¥1.37b (down 44% from 2Q 2022). Profit margin: 4.4% (down from 6.6% in 2Q 2022). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings.
お知らせ • Jul 13Xinjiang Tianshan Cement Co., Ltd. Provides Earnings Guidance for the Period from 1 January 2023 to 30 June 2023Xinjiang Tianshan Cement Co. Ltd. provides earnings guidance for the period from 1 January 2023 to 30 June 2023. Net profit attributable to shareholders of Tianshan Cement of RMB 100.00 million to RMB 150.00 million. Basic earnings per share RMB 0.0115 to RMB 0.0173.
お知らせ • May 27Xinjiangtianshan Cement Co.,Ltd Announces Final Dividend on share A for 2022, Payable on June 2, 2023Xinjiangtianshan Cement Co.,Ltd announced final Cash dividend/10 shares (tax included): CNY 2.70000000 on share A for 2022. Record date: 01 June 2023, Ex-date: 02 June 2023, Payment date: 02 June 2023.
Reported Earnings • Mar 22Full year 2022 earnings released: EPS: CN¥0.53 (vs CN¥1.57 in FY 2021)Full year 2022 results: EPS: CN¥0.53 (down from CN¥1.57 in FY 2021). Revenue: CN¥132.6b (down 22% from FY 2021). Net income: CN¥4.54b (down 64% from FY 2021). Profit margin: 3.4% (down from 7.4% in FY 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.
Board Change • Nov 16Less than half of directors are independentThere are 9 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 9 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Lei Zhan is the most experienced director on the board, commencing their role in 2018. Independent Director Xiangzhong Kong was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.
Reported Earnings • Oct 30Third quarter 2022 earnings released: EPS: CN¥0.067 (vs CN¥0.42 in 3Q 2021)Third quarter 2022 results: EPS: CN¥0.067 (down from CN¥0.42 in 3Q 2021). Revenue: CN¥33.2b (down 71% from 3Q 2021). Net income: CN¥570.3m (down 94% from 3Q 2021). Profit margin: 1.7% (down from 8.0% in 3Q 2021). Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.
Reported Earnings • Aug 24Second quarter 2022 earnings released: EPS: CN¥0.28 (vs CN¥0.63 in 2Q 2021)Second quarter 2022 results: EPS: CN¥0.28. Revenue: CN¥37.2b (up CN¥34.1b from 2Q 2021). Net income: CN¥2.46b (up 271% from 2Q 2021). Profit margin: 6.6% (down from 21% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is expected to shrink by 14% compared to a 16% growth forecast for the Basic Materials industry in China.
Board Change • Jul 02Less than half of directors are independentThere are 9 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 9 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Lei Zhan is the most experienced director on the board, commencing their role in 2018. Independent Director Xiangzhong Kong was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.
Reported Earnings • Apr 27First quarter 2022 earnings released: EPS: CN¥0.12 (vs CN¥0.17 in 1Q 2021)First quarter 2022 results: EPS: CN¥0.12 (down from CN¥0.17 in 1Q 2021). Revenue: CN¥28.3b (down 1.8% from 1Q 2021). Net income: CN¥1.02b (down 23% from 1Q 2021). Profit margin: 3.6% (down from 4.6% in 1Q 2021). Over the next year, revenue is forecast to grow 2.5%, compared to a 18% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 2% per year.
Reported Earnings • Oct 31Third quarter 2021 earnings released: EPS CN¥0.42 (vs CN¥0.45 in 3Q 2020)The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: CN¥114.3b (up CN¥111.8b from 3Q 2020). Net income: CN¥9.13b (up CN¥8.67b from 3Q 2020). Profit margin: 8.0% (down from 19% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Sep 29Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to CN¥14.40, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Basic Materials industry in China. Total returns to shareholders of 102% over the past three years.
Valuation Update With 7 Day Price Move • Sep 06Investor sentiment improved over the past weekAfter last week's 16% share price gain to CN¥16.49, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Basic Materials industry in China. Total returns to shareholders of 131% over the past three years.
Reported Earnings • Aug 22Second quarter 2021 earnings released: EPS CN¥0.63 (vs CN¥0.67 in 2Q 2020)The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥3.13b (up 2.2% from 2Q 2020). Net income: CN¥663.1m (down 6.1% from 2Q 2020). Profit margin: 21% (down from 23% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 22% per year.
Valuation Update With 7 Day Price Move • Aug 21Investor sentiment improved over the past weekAfter last week's 18% share price gain to CN¥16.04, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Basic Materials industry in China. Total returns to shareholders of 100% over the past three years.
Board Change • Jul 31High number of new directorsIndependent Director Xiangzhong Kong was the last director to join the board, commencing their role in 2021.
Reported Earnings • Apr 17First quarter 2021 earnings released: EPS CN¥0.084 (vs CN¥0.028 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¥999.3m (up 87% from 1Q 2020). Net income: CN¥87.5m (up CN¥117.4m from 1Q 2020). Profit margin: 8.8% (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 increased by 27% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Mar 12Full year 2020 earnings released: EPS CN¥1.45 (vs CN¥1.56 in FY 2019)The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: CN¥8.69b (down 10% from FY 2019). Net income: CN¥1.52b (down 7.3% from FY 2019). Profit margin: 17% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.
Analyst Estimate Surprise Post Earnings • Mar 12Revenue misses expectationsRevenue missed analyst estimates by 22%. Over the next year, revenue is forecast to grow 40%, compared to a 22% growth forecast for the Basic Materials industry in China.
Valuation Update With 7 Day Price Move • Mar 11Investor sentiment deteriorated over the past weekAfter last week's 21% share price decline to CN¥15.05, the stock is trading at a trailing P/E ratio of 9.9x, down from the previous P/E ratio of 12.5x. This compares to an average P/E of 14x in the Basic Materials industry in China. Total returns to shareholders over the past three years are 42%.
Is New 90 Day High Low • Mar 04New 90-day high: CN¥18.01The company is up 11% from its price of CN¥16.24 on 04 December 2020. The Chinese market is up 4.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Basic Materials industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥44.50 per share.
Valuation Update With 7 Day Price Move • Feb 23Investor sentiment improved over the past weekAfter last week's 15% share price gain to CN¥16.16, the stock is trading at a trailing P/E ratio of 10.6x, up from the previous P/E ratio of 9.2x. This compares to an average P/E of 16x in the Basic Materials industry in China. Total returns to shareholders over the past three years are 64%.
Is New 90 Day High Low • Feb 02New 90-day low: CN¥14.48The company is down 7.0% from its price of CN¥15.54 on 05 November 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥44.71 per share.
Is New 90 Day High Low • Dec 29New 90-day low: CN¥14.61The company is down 16% from its price of CN¥17.39 on 30 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 Basic Materials industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥44.72 per share.
Valuation Update With 7 Day Price Move • Nov 17Market bids up stock over the past weekAfter last week's 17% share price gain to CN¥17.97, the stock is trading at a trailing P/E ratio of 12.3x, up from the previous P/E ratio of 10.5x. This compares to an average P/E of 16x in the Basic Materials industry in China. Total returns to shareholders over the past three years are 92%.
Valuation Update With 7 Day Price Move • Nov 13Market bids up stock over the past weekAfter last week's 17% share price gain to CN¥17.83, the stock is trading at a trailing P/E ratio of 11.1x, up from the previous P/E ratio of 9.5x. This compares to an average P/E of 16x in the Basic Materials industry in China. Total returns to shareholders over the past three years are 86%.
Is New 90 Day High Low • Oct 30New 90-day low: CN¥14.85The company is down 18% from its price of CN¥18.02 on 24 July 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥36.83 per share.
Reported Earnings • Oct 28Third quarter earnings releasedOver the last 12 months the company has reported total profits of CN¥1.60b, down 3.5% from the prior year. Total revenue was CN¥8.56b over the last 12 months, down 10% from the prior year.
Is New 90 Day High Low • Oct 14New 90-day low: CN¥17.18The company is down 2.0% from its price of CN¥17.53 on 16 July 2020. The Chinese market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥69.29 per share.
