New Risk • Apr 25
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 Earnings have declined by 7.2% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Reported Earnings • Apr 25
First quarter 2026 earnings released: EPS: CN¥0.05 (vs CN¥0.04 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.05 (up from CN¥0.04 in 1Q 2025). Revenue: CN¥2.44b (up 22% from 1Q 2025). Net income: CN¥65.4m (up 14% from 1Q 2025). Profit margin: 2.7% (down from 2.9% in 1Q 2025). 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 8% per year, which means it has not declined as severely as earnings. Aankondiging • Apr 25
Shanghai Baosteel Packaging Co., Ltd., Annual General Meeting, May 18, 2026 Shanghai Baosteel Packaging Co., Ltd., Annual General Meeting, May 18, 2026, at 10:30 China Standard Time. Location: Building 4, No. 333, Tongji Road, Baoshan District, Shanghai China New Risk • Apr 13
New major risk - Revenue and earnings growth Earnings have declined by 3.8% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 3.8% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Aankondiging • Mar 30
Shanghai Baosteel Packaging Co., Ltd. to Report Q1, 2026 Results on Apr 25, 2026 Shanghai Baosteel Packaging Co., Ltd. announced that they will report Q1, 2026 results on Apr 25, 2026 Aankondiging • Dec 26
Shanghai Baosteel Packaging Co., Ltd. to Report Fiscal Year 2025 Results on Apr 25, 2026 Shanghai Baosteel Packaging Co., Ltd. announced that they will report fiscal year 2025 results on Apr 25, 2026 Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: CN¥0.061 (vs CN¥0.062 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.061. Revenue: CN¥2.31b (up 6.8% from 3Q 2024). Net income: CN¥73.2m (up 15% from 3Q 2024). Profit margin: 3.2% (up from 2.9% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Packaging industry in China. Aankondiging • Sep 30
Shanghai Baosteel Packaging Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Shanghai Baosteel Packaging Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Aankondiging • Jun 30
Shanghai Baosteel Packaging Co., Ltd. to Report First Half, 2025 Results on Aug 28, 2025 Shanghai Baosteel Packaging Co., Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Reported Earnings • Apr 24
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: CN¥0.15 (down from CN¥0.19 in FY 2023). Revenue: CN¥8.32b (up 7.2% from FY 2023). Net income: CN¥172.4m (down 21% from FY 2023). Profit margin: 2.1% (down from 2.8% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Packaging 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 7% per year, which means it has not declined as severely as earnings. Aankondiging • Apr 24
Shanghai Baosteel Packaging Co., Ltd., Annual General Meeting, May 14, 2025 Shanghai Baosteel Packaging Co., Ltd., Annual General Meeting, May 14, 2025, at 13:30 China Standard Time. Location: The Company's Meeting Room, Shanghai China Aankondiging • Mar 28
Shanghai Baosteel Packaging Co., Ltd. to Report Q1, 2025 Results on Apr 30, 2025 Shanghai Baosteel Packaging Co., Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Aankondiging • Dec 27
Shanghai Baosteel Packaging Co., Ltd. to Report Fiscal Year 2024 Results on Apr 26, 2025 Shanghai Baosteel Packaging Co., Ltd. announced that they will report fiscal year 2024 results on Apr 26, 2025 Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.062 (vs CN¥0.071 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.062 (down from CN¥0.071 in 3Q 2023). Revenue: CN¥2.16b (up 6.5% from 3Q 2023). Net income: CN¥63.6m (down 15% from 3Q 2023). Profit margin: 2.9% (down from 3.7% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Packaging industry in China. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Aankondiging • Sep 30
Shanghai Baosteel Packaging Co., Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Shanghai Baosteel Packaging Co., Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥5.05, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 18x in the Packaging industry in China. Total loss to shareholders of 39% over the past three years. Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: CN¥0.031 (vs CN¥0.061 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.031 (down from CN¥0.061 in 2Q 2023). Revenue: CN¥2.02b (flat on 2Q 2023). Net income: CN¥37.5m (down 43% from 2Q 2023). Profit margin: 1.9% (down from 3.3% in 2Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Packaging industry in China. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. Aankondiging • Jun 29
Shanghai Baosteel Packaging Co., Ltd. to Report First Half, 2024 Results on Aug 31, 2024 Shanghai Baosteel Packaging Co., Ltd. announced that they will report first half, 2024 results on Aug 31, 2024 Aankondiging • Apr 29
Shanghai Baosteel Packaging Co., Ltd., Annual General Meeting, May 17, 2024 Shanghai Baosteel Packaging Co., Ltd., Annual General Meeting, May 17, 2024, at 13:30 China Standard Time. Location: No. 1818, Luodong Road, Baoshan District, Shanghai China Reported Earnings • Apr 28
First quarter 2024 earnings released: EPS: CN¥0.05 (vs CN¥0.05 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.05 (in line with 1Q 2023). Revenue: CN¥1.98b (up 13% from 1Q 2023). Net income: CN¥55.9m (down 8.9% from 1Q 2023). Profit margin: 2.8% (down from 3.5% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Packaging industry in China. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Aankondiging • Mar 29
Shanghai Baosteel Packaging Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Shanghai Baosteel Packaging Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥5.17, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 17x in the Packaging industry in China. Total loss to shareholders of 25% over the past three years. New Risk • Jan 31
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 6.7% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.7% average weekly change). Aankondiging • Jan 30
Shanghai Baosteel Packaging Co., Ltd. (SHSE:601968) announces an Equity Buyback for CNY 100 million worth of its shares. Shanghai Baosteel Packaging Co., Ltd. (SHSE:601968) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its A shares. The shares will be repurchased at a price not more than CNY 7.66 per share. The repurchased shares will be used for Equity incentives plan. The authorization will be valid for a period of 12 months. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥5.53, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 19x in the Packaging industry in China. Total loss to shareholders of 25% over the past three years. Aankondiging • Dec 30
Shanghai Baosteel Packaging Co., Ltd. to Report Fiscal Year 2023 Results on Apr 27, 2024 Shanghai Baosteel Packaging Co., Ltd. announced that they will report fiscal year 2023 results on Apr 27, 2024 Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: CN¥0.071 (vs CN¥0.071 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.071 (in line with 3Q 2022). Revenue: CN¥2.03b (down 15% from 3Q 2022). Net income: CN¥74.8m (flat on 3Q 2022). Profit margin: 3.7% (up from 3.1% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Packaging industry in China. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Aankondiging • Sep 30
Shanghai Baosteel Packaging Co., Ltd. to Report Q3, 2023 Results on Oct 31, 2023 Shanghai Baosteel Packaging Co., Ltd. announced that they will report Q3, 2023 results on Oct 31, 2023 Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: CN¥0.061 (vs CN¥0.06 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.061. Revenue: CN¥2.03b (up 2.4% from 2Q 2022). Net income: CN¥66.0m (down 8.8% from 2Q 2022). Profit margin: 3.3% (down from 3.6% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Packaging industry in China. Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: CN¥0.05 (vs CN¥0.06 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.05 (down from CN¥0.06 in 1Q 2022). Revenue: CN¥1.76b (down 5.0% from 1Q 2022). Net income: CN¥61.3m (down 4.4% from 1Q 2022). Profit margin: 3.5% (in line with 1Q 2022). Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 13% per year. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. 3 independent directors (8 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Aankondiging • Nov 09
Shanghai Baosteel Packaging Co., Ltd. announced that it expects to receive CNY 1.2 billion in funding from Xiamen Shuanghongyuan Investment Co., Ltd. and other investors Shanghai Baosteel Packaging Co., Ltd. announced that a private placement to issue not more than 154,505,341 shares which is not more than 30% of the company's total share capital before this transaction, of par value of CNY 1 per share for an aggregate gross proceeds of not more than CNY 1,200,000,000 on November 8, 2022. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from no more than 35 investors special investors including, new investor Xiamen Shuanghongyuan Investment Co., Ltd. for not less than 5.02% stake in the company. The company has entered into a Share Subscription Agreement with Xiamen Shuanghongyuan Investment Co., Ltd. The shares to be issued shall have a hold period of 6 months from closing of the transaction for the rest of the investors and 18 months from closing of the transaction for Xiamen Shuanghongyuan Investment Co., Ltd. The non-public offering of A shares has been approved by the 22nd meeting of the 6th Board of Directors directors and the 17th meeting of the 5th board of supervisors of the company. The transaction is still subject to approval from China Securities Regulatory Commission, approval of the company's shareholders' meeting, the approval of China Baowu Steel Group Corporation Limited and the approval of other competent governments, institutional filings, approvals, licenses, authorizations or consents (if applicable). This non-public offering will not lead to changes in the company's control. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: CN¥0.071 (vs CN¥0.045 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.071 (up from CN¥0.045 in 3Q 2021). Revenue: CN¥2.38b (up 35% from 3Q 2021). Net income: CN¥74.5m (up 45% from 3Q 2021). Profit margin: 3.1% (up from 2.9% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: CN¥0.06 (vs CN¥0.065 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.06. Revenue: CN¥1.98b (up 19% from 2Q 2021). Net income: CN¥72.4m (up 1.9% from 2Q 2021). Profit margin: 3.6% (down from 4.2% in 2Q 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥7.50, the stock trades at a trailing P/E ratio of 31.4x. Average trailing P/E is 27x in the Packaging industry in China. Total returns to shareholders of 46% over the past three years. Reported Earnings • May 02
Full year 2021 earnings released: EPS: CN¥0.26 (vs CN¥0.19 in FY 2020) Full year 2021 results: EPS: CN¥0.26 (up from CN¥0.19 in FY 2020). Revenue: CN¥6.97b (up 20% from FY 2020). Net income: CN¥270.5m (up 71% from FY 2020). Profit margin: 3.9% (up from 2.7% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. 3 independent directors (7 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 17
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: CN¥0.26 (up from CN¥0.19 in FY 2020). Revenue: CN¥6.97b (up 20% from FY 2020). Net income: CN¥270.5m (up 71% from FY 2020). Profit margin: 3.9% (up from 2.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.045 (vs CN¥0.07 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥1.77b (up 9.8% from 3Q 2020). Net income: CN¥51.4m (down 14% from 3Q 2020). Profit margin: 2.9% (down from 3.7% 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 43% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS CN¥0.065 (vs CN¥0.068 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¥1.67b (up 8.9% from 2Q 2020). Net income: CN¥71.0m (down 3.4% from 2Q 2020). Profit margin: 4.2% (down from 4.8% 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 48% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 02
First quarter 2021 earnings released: EPS CN¥0.10 (vs CN¥0.02 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥1.52b (up 54% from 1Q 2020). Net income: CN¥81.5m (up CN¥68.2m from 1Q 2020). Profit margin: 5.4% (up from 1.3% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 25
New 90-day low: CN¥7.12 The company is down 6.0% from its price of CN¥7.60 on 27 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 Packaging industry, which is flat over the same period. Is New 90 Day High Low • Feb 07
New 90-day low: CN¥7.42 The company is down 5.0% from its price of CN¥7.80 on 09 November 2020. The Chinese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Packaging industry, which is up 1.0% over the same period. Is New 90 Day High Low • Dec 14
New 90-day high: CN¥8.72 The company is up 8.0% from its price of CN¥8.05 on 15 September 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Packaging industry, which is down 2.0% over the same period. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥200.6m, up 129% from the prior year. Total revenue was CN¥5.84b over the last 12 months, up 11% from the prior year. Aankondiging • Oct 28
Shanghai Baosteel Packaging Co., Ltd. to Report Q3, 2020 Results on Oct 30, 2020 Shanghai Baosteel Packaging Co., Ltd. announced that they will report Q3, 2020 results on Oct 30, 2020 Aankondiging • Jul 18
Shanghai Baosteel Packaging Co., Ltd. to Report First Half, 2020 Results on Aug 29, 2020 Shanghai Baosteel Packaging Co., Ltd. announced that they will report first half, 2020 results on Aug 29, 2020