New Risk • May 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 33% 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 39% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.1% net profit margin). Aankondiging • Apr 24
Era Co., Ltd., Annual General Meeting, May 14, 2026 Era Co., Ltd., Annual General Meeting, May 14, 2026, at 14:30 China Standard Time. Location: 4F, No. 555, Huangjiao Road, Huangyan District, Taizhou, Zhejiang China Reported Earnings • Apr 24
Full year 2025 earnings released: EPS: CN¥0.05 (vs CN¥0.16 in FY 2024) Full year 2025 results: EPS: CN¥0.05 (down from CN¥0.16 in FY 2024). Revenue: CN¥6.18b (down 6.5% from FY 2024). Net income: CN¥62.5m (down 67% from FY 2024). Profit margin: 1.0% (down from 2.9% in FY 2024). The decrease in margin was driven by lower revenue. 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 • Mar 31
Era Co., Ltd. to Report Q1, 2026 Results on Apr 29, 2026 Era Co., Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026 New Risk • Jan 06
New major risk - Revenue and earnings growth Earnings have declined by 36% 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 36% 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. Profit margins are more than 30% lower than last year (1.4% net profit margin). Aankondiging • Dec 31
Era Co., Ltd. to Report Fiscal Year 2025 Results on Apr 24, 2026 Era Co., Ltd. announced that they will report fiscal year 2025 results on Apr 24, 2026 Reported Earnings • Oct 28
Third quarter 2025 earnings released: EPS: CN¥0 (vs CN¥0.019 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0 (down from CN¥0.019 in 3Q 2024). Revenue: CN¥1.50b (down 7.1% from 3Q 2024). Net income: CN¥156.6k (down 99% from 3Q 2024). Profit margin: 0% (down from 1.4% in 3Q 2024). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Aankondiging • Sep 30
Era Co., Ltd. to Report Q3, 2025 Results on Oct 28, 2025 Era Co., Ltd. announced that they will report Q3, 2025 results on Oct 28, 2025 Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥5.10, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 23x in the Chemicals industry in China. Total returns to shareholders of 8.3% over the past three years. New Risk • Sep 03
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 36% 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: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.7% net profit margin). Aankondiging • Jul 02
Era Co., Ltd. to Report First Half, 2025 Results on Aug 28, 2025 Era Co., Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Declared Dividend • Jun 30
Dividend reduced to CN¥0.05 Dividend of CN¥0.05 is 50% lower than last year. Ex-date: 4th July 2025 Payment date: 4th July 2025 Dividend yield will be 1.2%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (43% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 2.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 82% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • May 22
Era Co., Ltd. Approves Cash Dividend for the Year 2024 Era Co., Ltd. at the Annual General Meeting of 2024 held on 16 May 2025, approved cash dividend/10 shares (tax included) of CNY 0.50000000 for the year 2024. Aankondiging • Apr 25
Era Co., Ltd. Proposes Final Cash Dividend for 2024 Era Co., Ltd. proposed final cash dividend of CNY 0.50000000 per 10 shares (tax included) for 2024. Reported Earnings • Apr 24
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.16 (down from CN¥0.29 in FY 2023). Revenue: CN¥6.60b (down 12% from FY 2023). Net income: CN¥190.4m (down 48% from FY 2023). Profit margin: 2.9% (down from 4.9% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates by 41%. Revenue is forecast to grow 9.3% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Aankondiging • Apr 24
Era Co., Ltd., Annual General Meeting, May 16, 2025 Era Co., Ltd., Annual General Meeting, May 16, 2025, at 14:30 China Standard Time. Location: 4F, No. 555, Huangjiao Road, Huangyan District, Taizhou, Zhejiang China Aankondiging • Mar 31
Era Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Era Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Aankondiging • Dec 31
Era Co., Ltd. to Report Fiscal Year 2024 Results on Apr 24, 2025 Era Co., Ltd. announced that they will report fiscal year 2024 results on Apr 24, 2025 Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.019 (vs CN¥0.092 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.019 (down from CN¥0.092 in 3Q 2023). Revenue: CN¥1.62b (down 14% from 3Q 2023). Net income: CN¥22.4m (down 79% from 3Q 2023). Profit margin: 1.4% (down from 5.7% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Aankondiging • Sep 30
Era Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Era Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥4.56, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Chemicals industry in China. Total loss to shareholders of 1.9% over the past three years. Major Estimate Revision • Aug 29
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥8.06b to CN¥7.28b. EPS estimate also fell from CN¥0.337 per share to CN¥0.30 per share. Net income forecast to grow 44% next year vs 45% growth forecast for Chemicals industry in China. Consensus price target down from CN¥6.03 to CN¥4.28. Share price rose 5.2% to CN¥3.83 over the past week. Price Target Changed • Aug 29
Price target decreased by 14% to CN¥5.16 Down from CN¥6.03, the current price target is an average from 2 analysts. New target price is 35% above last closing price of CN¥3.83. Stock is down 34% over the past year. The company is forecast to post earnings per share of CN¥0.32 for next year compared to CN¥0.30 last year. Aankondiging • Jun 29
Era Co., Ltd. to Report First Half, 2024 Results on Aug 28, 2024 Era Co., Ltd. announced that they will report first half, 2024 results on Aug 28, 2024 Price Target Changed • Apr 28
Price target decreased by 8.1% to CN¥6.03 Down from CN¥6.55, the current price target is an average from 2 analysts. New target price is 25% above last closing price of CN¥4.82. Stock is down 7.1% over the past year. The company is forecast to post earnings per share of CN¥0.33 for next year compared to CN¥0.30 last year. Aankondiging • Apr 28
Era Co., Ltd., Annual General Meeting, May 17, 2024 Era Co., Ltd., Annual General Meeting, May 17, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Taizhou, Zhejiang China Agenda: To consider 2023 work report of the board of directors; to consider 2023 work report of the supervisory committee; to consider 2023 annual report and its summary; to consider 2023 annual accounts report; to consider 2024 estimated guarantee for controlled subsidiaries and guarantee among controlled subsidiaries; to consider 2023 profit distribution plan; to consider reappointment of 2024 audit firm; and to consider other matters. Aankondiging • Apr 27
Era Co., Ltd. Announces Profit Distribution Proposal of Final Cash Dividend for the Year 2023 Era Co., Ltd. announced on 26 April 2024 the profit distribution proposal of final cash dividend per ten shares (tax included) of CNY 1.00000000 for the year 2023. Reported Earnings • Apr 26
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.30 (up from CN¥0.066 in FY 2022). Revenue: CN¥7.47b (down 6.4% from FY 2022). Net income: CN¥362.9m (up 346% from FY 2022). Profit margin: 4.9% (up from 1.0% in FY 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 21%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥4.37, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 15x in the Chemicals industry in China. Total loss to shareholders of 35% over the past three years. Aankondiging • Mar 30
Era Co., Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Era Co., Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: CN¥0.32 (vs CN¥0.066 in FY 2022) Full year 2023 results: EPS: CN¥0.32 (up from CN¥0.066 in FY 2022). Revenue: CN¥7.48b (down 6.3% from FY 2022). Net income: CN¥394.3m (up 385% from FY 2022). Profit margin: 5.3% (up from 1.0% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥4.39, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Chemicals industry in China. Total loss to shareholders of 26% over the past three years. Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥5.91, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 15x in the Chemicals industry in China. Total loss to shareholders of 4.1% over the past three years. Aankondiging • Dec 29
Era Co., Ltd. to Report Fiscal Year 2023 Results on Apr 26, 2024 Era Co., Ltd. announced that they will report fiscal year 2023 results on Apr 26, 2024 Reported Earnings • Oct 25
Third quarter 2023 earnings released: EPS: CN¥0.092 (vs CN¥0.002 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.092 (up from CN¥0.002 in 3Q 2022). Revenue: CN¥1.88b (down 10% from 3Q 2022). Net income: CN¥107.7m (up CN¥105.6m from 3Q 2022). Profit margin: 5.7% (up from 0.1% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. New Risk • Aug 29
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 28% 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: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.4% net profit margin). Price Target Changed • Aug 25
Price target increased by 15% to CN¥6.55 Up from CN¥5.72, the current price target is an average from 3 analysts. New target price is 19% above last closing price of CN¥5.50. Stock is up 13% over the past year. The company is forecast to post earnings per share of CN¥0.42 for next year compared to CN¥0.066 last year. Reported Earnings • Aug 24
Second quarter 2023 earnings released: EPS: CN¥0.081 (vs CN¥0.022 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.081 (up from CN¥0.022 in 2Q 2022). Revenue: CN¥2.05b (flat on 2Q 2022). Net income: CN¥93.7m (up 202% from 2Q 2022). Profit margin: 4.6% (up from 1.5% in 2Q 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 50% 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. Aankondiging • Aug 10
Era Co., Ltd. Announces Executive Appointments Era Co., Ltd. at the Extraordinary General Meeting of 2023 on 08 August 2023, approved Election of non-independent directors, cumulative voting system applicable: Zhang Yichen; Election of independent directors, cumulative voting system applicable: Yi Jianhui; Election of non-employee supervisors, cumulative voting system applicable: Chen Wei. Aankondiging • May 25
Era Co., Ltd. Announces Cash Dividend on A Shares for the Year 2022, Payable on 31 May 2023 Era Co., Ltd. announced cash dividend of CNY 0.12000000 per 10 shares (tax included) on A shares for the year 2022. Record date is 30 May 2023, Ex-date is 31 May 2023 and Payment date is 31 May 2023. Reported Earnings • Apr 23
First quarter 2023 earnings released: EPS: CN¥0.06 (vs CN¥0.03 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.06 (up from CN¥0.03 in 1Q 2022). Revenue: CN¥1.60b (down 6.7% from 1Q 2022). Net income: CN¥76.8m (up 139% from 1Q 2022). Profit margin: 4.8% (up from 1.9% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: CN¥0.002 (vs CN¥0.09 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.002 (down from CN¥0.09 in 3Q 2021). Revenue: CN¥2.10b (down 13% from 3Q 2021). Net income: CN¥2.19m (down 98% from 3Q 2021). Profit margin: 0.1% (down from 4.4% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Oct 11
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥5.34, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 14x in the Chemicals industry in China. Total returns to shareholders of 20% over the past three years. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improved over the past week After last week's 24% share price gain to CN¥5.39, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 15x in the Chemicals industry in China. Total returns to shareholders of 28% over the past three years. Major Estimate Revision • Sep 05
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥10.2b to CN¥9.92b. EPS estimate also fell from CN¥0.54 per share to CN¥0.48 per share. Net income forecast to grow 18% next year vs 39% growth forecast for Chemicals industry in China. Consensus price target of CN¥5.96 unchanged from last update. Share price fell 3.5% to CN¥4.73 over the past week. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥5.30, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 17x in the Chemicals industry in China. Total returns to shareholders of 14% over the past three years. Aankondiging • Jun 17
Era Co., Ltd. Announces 2021 Final Profit Distribution Plan to Be Implemented (A Shares), Payable on June 24, 2022 Era Co., Ltd. announced 2021 final profit distribution plan to be implemented (A shares), Payable on June 24, 2022. The company announced Cash dividend/10 shares (tax included) of CNY 0.72000000. The record date is June 23, 2022 and ex-date is June 24, 2022. Aankondiging • May 12
Era Co., Ltd. Approves Cash Dividend for 2021 Era Co., Ltd. approved cash dividend of CNY 0.7200000 (tax included) per 10 shares for 2021, at the Annual General Meeting of 2021 held on 06 May 2022. Reported Earnings • Apr 29
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: CN¥0.03 (down from CN¥0.06 in 1Q 2021). Revenue: CN¥1.71b (up 8.1% from 1Q 2021). Net income: CN¥32.2m (down 57% from 1Q 2021). Profit margin: 1.9% (down from 4.7% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 6.0%. Over the next year, revenue is forecast to grow 19%, compared to a 42% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target increased to CN¥6.17 Up from CN¥5.50, the current price target is an average from 4 analysts. New target price is 47% above last closing price of CN¥4.20. Stock is down 40% over the past year. The company is forecast to post earnings per share of CN¥0.57 for next year compared to CN¥0.47 last year. Reported Earnings • Apr 12
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥0.47 (down from CN¥0.68 in FY 2020). Revenue: CN¥8.88b (up 26% from FY 2020). Net income: CN¥576.9m (down 25% from FY 2020). Profit margin: 6.5% (down from 11% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 6.0%. Over the next year, revenue is forecast to grow 20%, compared to a 49% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 02
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥0.48 (down from CN¥0.68 in FY 2020). Revenue: CN¥8.88t (up CN¥8.87t from FY 2020). Net income: CN¥593.8b (up CN¥593.0b from FY 2020). Profit margin: 6.7% (down from 11% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 4.0%. Over the next year, revenue is expected to shrink by 100% compared to a 47% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥5.30, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 19x in the Chemicals industry in China. Total returns to shareholders of 62% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥2.71 per share. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.09 (vs CN¥0.23 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¥2.42b (up 24% from 3Q 2020). Net income: CN¥107.7m (down 59% from 3Q 2020). Profit margin: 4.4% (down from 13% 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 35% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Price Target Changed • Aug 28
Price target decreased to CN¥6.24 Down from CN¥9.32, the current price target is an average from 3 analysts. New target price is 23% above last closing price of CN¥5.07. Stock is down 45% over the past year. Reported Earnings • Aug 25
Second quarter 2021 earnings released: EPS CN¥0.14 (vs CN¥0.24 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¥2.37b (up 21% from 2Q 2020). Net income: CN¥177.3m (down 26% from 2Q 2020). Profit margin: 7.5% (down from 12% 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 45% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 21
Second quarter 2021 earnings released: EPS CN¥0.14 (vs CN¥0.24 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¥2.37b (up 21% from 2Q 2020). Net income: CN¥177.3m (down 26% from 2Q 2020). Profit margin: 7.5% (down from 12% 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 44% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Aankondiging • May 21
Yonggao Co., Ltd. Approves Cash Dividend for the Year 2020 Yonggao Co., Ltd. announced that at its AGM held on May 18, 2021, it approved the cash dividend/10 shares (tax included) of CNY 1.25 for the year 2020. Aankondiging • Apr 29
Yonggao Co., Ltd. Announces Final Profit Distribution Proposal for 2020 Yonggao Co., Ltd. announced final profit distribution proposal of CNY 1.25000000 per 10 shares (tax included) for 2020. Reported Earnings • Apr 28
First quarter 2021 earnings released: EPS CN¥0.06 (vs CN¥0.03 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥1.58b (up 87% from 1Q 2020). Net income: CN¥75.1m (up 98% from 1Q 2020). Profit margin: 4.7% (up from 4.5% 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 46% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Jan 26
Revenue and earnings miss expectations Revenue missed analyst estimates by 0.8%. Earnings per share (EPS) also missed analyst estimates by 1.1%. Over the next year, revenue is forecast to grow 18%, compared to a 50% growth forecast for the Chemicals industry in China. Is New 90 Day High Low • Jan 11
New 90-day low: CN¥6.14 The company is down 28% from its price of CN¥8.56 on 13 October 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥20.23 per share. Is New 90 Day High Low • Dec 16
New 90-day low: CN¥6.96 The company is down 14% from its price of CN¥8.07 on 17 September 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals 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¥20.47 per share. Is New 90 Day High Low • Nov 30
New 90-day low: CN¥7.01 The company is down 23% from its price of CN¥9.08 on 01 September 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥17.78 per share. Is New 90 Day High Low • Oct 29
New 90-day low: CN¥7.38 The company is down 15% from its price of CN¥8.68 on 31 July 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥19.32 per share. Major Estimate Revision • Oct 26
Analysts update estimates The 2020 consensus earning per share (EPS) estimate increased from CN¥0.63 to CN¥0.70. Revenue estimate for the same period was approximately flat at CN¥7.10b. Net income is expected to grow by 23% next year compared to 42% growth forecast for the Chemicals industry in China. The consensus price target of CN¥10.80 was unchanged from the last update. Share price is down by 3.3% to CN¥7.99 over the past week. Reported Earnings • Oct 20
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥724.2m, up 76% from the prior year. Total revenue was CN¥6.64b over the last 12 months, up 9.8% from the prior year. Aankondiging • Oct 16
Yonggao Co., Ltd. to Report Q3, 2020 Results on Oct 20, 2020 Yonggao Co., Ltd. announced that they will report Q3, 2020 results on Oct 20, 2020 Valuation Update With 7 Day Price Move • Oct 12
Market bids up stock over the past week After last week's 16% share price gain to CN¥8.82, the stock is trading at a trailing P/E ratio of 16.9x, up from the previous P/E ratio of 14.6x. This compares to an average P/E of 39x in the Chemicals industry in China. Total returns to shareholders over the past three years are 76%. Aankondiging • Jul 23
Yonggao Co., Ltd. to Report First Half, 2020 Results on Aug 18, 2020 Yonggao Co., Ltd. announced that they will report first half, 2020 results on Aug 18, 2020