New Risk • May 08
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Dividend per share is over 53x earnings per share. 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 Dividend is not well covered by earnings and cash flows. Dividend per share is over 53x earnings per share. Paying a dividend despite having no free cash flows. Earnings have declined by 33% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Aankondiging • Apr 22
BSM Chemical Co.,Ltd., Annual General Meeting, May 12, 2026 BSM Chemical Co.,Ltd., Annual General Meeting, May 12, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Shaoxing, Zhejiang China Reported Earnings • Apr 22
First quarter 2026 earnings released: EPS: CN¥0.01 (vs CN¥0.07 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.01 (down from CN¥0.07 in 1Q 2025). Revenue: CN¥353.1m (down 16% from 1Q 2025). Net income: CN¥2.96m (down 89% from 1Q 2025). Profit margin: 0.8% (down from 6.1% in 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Aankondiging • Mar 31
BSM Chemical Co.,Ltd. to Report Q1, 2026 Results on Apr 22, 2026 BSM Chemical Co.,Ltd. announced that they will report Q1, 2026 results on Apr 22, 2026 New Risk • Feb 02
New major risk - Revenue and earnings growth Earnings have declined by 20% 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. This is currently the only risk that has been identified for the company. Board Change • Jan 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 6 highly experienced directors. Deputy GM & Director Yong Hu was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Aankondiging • Dec 31
BSM Chemical Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 22, 2026 BSM Chemical Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 22, 2026 Reported Earnings • Oct 28
Third quarter 2025 earnings released: CN¥0.01 loss per share (vs CN¥0.54 loss in 3Q 2024) Third quarter 2025 results: CN¥0.01 loss per share (improved from CN¥0.54 loss in 3Q 2024). Revenue: CN¥334.2m (up 9.3% from 3Q 2024). Net loss: CN¥3.54m (loss narrowed 75% from 3Q 2024). Revenue is forecast to grow 19% 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, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Aankondiging • Sep 30
BSM Chemical Co.,Ltd. to Report Q3, 2025 Results on Oct 28, 2025 BSM Chemical Co.,Ltd. announced that they will report Q3, 2025 results on Oct 28, 2025 Reported Earnings • Aug 22
Second quarter 2025 earnings released: EPS: CN¥0.027 (vs CN¥0.011 loss in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.027 (up from CN¥0.011 loss in 2Q 2024). Revenue: CN¥353.6m (up 13% from 2Q 2024). Net income: CN¥8.72m (up CN¥12.3m from 2Q 2024). Profit margin: 2.5% (up from net loss in 2Q 2024). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Chemicals industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Aankondiging • Jul 02
BSM Chemical Co.,Ltd. to Report First Half, 2025 Results on Aug 20, 2025 BSM Chemical Co.,Ltd. announced that they will report first half, 2025 results on Aug 20, 2025 New Risk • May 29
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 8.9% 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. This is currently the only risk that has been identified for the company. Aankondiging • Apr 20
BSM Chemical Co.,Ltd., Annual General Meeting, May 09, 2025 BSM Chemical Co.,Ltd., Annual General Meeting, May 09, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Shaoxing, Zhejiang China Reported Earnings • Apr 19
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: CN¥0.09 loss per share (down from CN¥0.24 profit in FY 2023). Revenue: CN¥1.33b (up 90% from FY 2023). Net loss: CN¥32.9m (down 137% from profit in FY 2023). Revenue missed analyst estimates by 21%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 31% 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 39% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Aankondiging • Mar 31
BSM Chemical Co.,Ltd. to Report Q1, 2025 Results on Apr 19, 2025 BSM Chemical Co.,Ltd. announced that they will report Q1, 2025 results on Apr 19, 2025 New Risk • Jan 12
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. This is currently the only risk that has been identified for the company. Aankondiging • Jan 02
BSM Chemical Co.,Ltd. Approves Election of Management Members BSM Chemical Co.,Ltd. announced that at its EGM held on 27 December 2024, the shareholders approved election of Zhong Xijun, Ren Jigang, Shan Hongliang and Liu Xudong as non-independent directors; Wu Tao, Fang Yongmei and Huang Dong as independent directors; Dong Hui, Shen Liangming, Yu Kejun and Ni Baiquan as non-employee supervisors of the company. Aankondiging • Dec 31
BSM Chemical Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 19, 2025 BSM Chemical Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 19, 2025 Reported Earnings • Oct 29
Third quarter 2024 earnings released: CN¥0.54 loss per share (vs CN¥0.001 profit in 3Q 2023) Third quarter 2024 results: CN¥0.54 loss per share (down from CN¥0.001 profit in 3Q 2023). Revenue: CN¥305.6m (up 196% from 3Q 2023). Net loss: CN¥14.3m (down CN¥14.5m from profit in 3Q 2023). Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. New Risk • Sep 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (26% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Profit margins are more than 30% lower than last year (2.6% net profit margin). Aankondiging • Sep 30
BSM Chemical Co.,Ltd. to Report Q3, 2024 Results on Oct 29, 2024 BSM Chemical Co.,Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Reported Earnings • Aug 21
Second quarter 2024 earnings released: CN¥0.011 loss per share (vs CN¥0.081 profit in 2Q 2023) Second quarter 2024 results: CN¥0.011 loss per share (down from CN¥0.081 profit in 2Q 2023). Revenue: CN¥311.8m (up 115% from 2Q 2023). Net loss: CN¥3.57m (down 112% from profit in 2Q 2023). Revenue is forecast to grow 33% 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 2% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Aankondiging • Aug 07
BSM Chemical Co.,Ltd. (SZSE:300796) announces an Equity Buyback for CNY 100 million worth of its shares. BSM Chemical Co.,Ltd. (SZSE:300796) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its shares. The shares will be purchased at a price not exceeding CNY 13 per share. The repurchased shares will be used for employee stock ownership plans or equity incentive plans. The program will be funded from company's own funds. The program will be valid for 12 months. Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥10.86, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 15x in the Chemicals industry in China. Total returns to shareholders of 46% over the past three years. Aankondiging • Jun 29
BSM Chemical Co.,Ltd. to Report First Half, 2024 Results on Aug 20, 2024 BSM Chemical Co.,Ltd. announced that they will report first half, 2024 results on Aug 20, 2024 Aankondiging • May 25
BSM Chemical Co.,Ltd. Announces Final Cash Dividend on A Shares for the Year 2023, Payable on 30 May 2024 BSM Chemical Co.,Ltd. announced final cash dividend/10 shares (tax included) of CNY 0.40000000 on A shares for the year 2023. Record date: 29 May 2024. Ex-date: 30 May 2024. Payment date: 30 May 2024. Aankondiging • May 15
BSM Chemical Co.,Ltd. (SZSE:300796) completed the acquisition of 4.11% stake in Jiangsu Yongan Chemical Co., Ltd from Chongqing Chengan Enterprise Management Partnership (Limited Partnership). BSM Chemical Co.,Ltd. (SZSE:300796) agreed to acquire 4.11% stake in Jiangsu Yongan Chemical Co., Ltd from Chongqing Chengan Enterprise Management Partnership (Limited Partnership) for CNY 49.3 million on April 19, 2024. Prior to the transaction, BSM Chemical Co.,Ltd. (SZSE:300796) held 95.89%. The transaction has been approved by board of BSM Chemical on April 19, 2024. Jiangsu Yongan Chemical reported total assets of CNY 797.1729 million, net assets of CNY 689.2042 million, operating income of CNY 598.7958 million and net profit of CNY 94.0061 million as at December 31, 2023. BSM Chemical Co.,Ltd. (SZSE:300796) completed the acquisition of 4.11% stake in Jiangsu Yongan Chemical Co., Ltd from Chongqing Chengan Enterprise Management Partnership (Limited Partnership) on May 13, 2024. Aankondiging • Apr 21
BSM Chemical Co.,Ltd., Annual General Meeting, May 10, 2024 BSM Chemical Co.,Ltd., Annual General Meeting, May 10, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Shaoxing, Zhejiang China Reported Earnings • Apr 20
First quarter 2024 earnings released: EPS: CN¥0.06 (vs CN¥0.14 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.06 (down from CN¥0.14 in 1Q 2023). Revenue: CN¥354.0m (up 62% from 1Q 2023). Net income: CN¥20.1m (down 59% from 1Q 2023). Profit margin: 5.7% (down from 23% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Mar 30
BSM Chemical Co.,Ltd. to Report Q1, 2024 Results on Apr 25, 2024 BSM Chemical Co.,Ltd. announced that they will report Q1, 2024 results on Apr 25, 2024 Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥13.00, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Chemicals industry in China. Total returns to shareholders of 124% over the past three years. Aankondiging • Dec 30
BSM Chemical Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 20, 2024 BSM Chemical Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 20, 2024 New Risk • Nov 20
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 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (27% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.3% average weekly change). Reported Earnings • Oct 25
Third quarter 2023 earnings released: EPS: CN¥0.001 (vs CN¥0.11 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.001 (down from CN¥0.11 in 3Q 2022). Revenue: CN¥103.2m (down 41% from 3Q 2022). Net income: CN¥284.0k (down 99% from 3Q 2022). Profit margin: 0.3% (down from 23% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 53% 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 increased by 41% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥13.68, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 14x in the Chemicals industry in China. Total returns to shareholders of 44% over the past three years. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥15.30, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 15x in the Chemicals industry in China. Total returns to shareholders of 82% over the past three years. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: CN¥0.081 (vs CN¥0.12 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.081 (down from CN¥0.12 in 2Q 2022). Revenue: CN¥145.0m (down 25% from 2Q 2022). Net income: CN¥29.0m (down 34% from 2Q 2022). Profit margin: 20% (down from 23% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 48% 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 increased by 48% 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 • Mar 08
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: CN¥0.79 (up from CN¥0.34 in FY 2021). Revenue: CN¥768.1m (up 45% from FY 2021). Net income: CN¥152.9m (up 171% from FY 2021). Profit margin: 20% (up from 11% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.9%. Earnings per share (EPS) also surpassed analyst estimates by 5.3%. Revenue is forecast to grow 32% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 21
Third quarter 2022 earnings released: EPS: CN¥0.20 (vs CN¥0.037 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.20 (up from CN¥0.037 in 3Q 2021). Revenue: CN¥174.2m (up 111% from 3Q 2021). Net income: CN¥40.1m (up CN¥33.6m from 3Q 2021). Profit margin: 23% (up from 7.9% in 3Q 2021). The increase in margin was driven by higher revenue. Reported Earnings • Aug 09
Second quarter 2022 earnings released: EPS: CN¥0.21 (vs CN¥0.078 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.21 (up from CN¥0.078 in 2Q 2021). Revenue: CN¥193.1m (up 52% from 2Q 2021). Net income: CN¥43.8m (up 234% from 2Q 2021). Profit margin: 23% (up from 10% in 2Q 2021). The increase in margin was driven by higher revenue. Aankondiging • May 27
Shaoxing BSM Chemical Co., Ltd. Announces Cash Dividend on A Shares, Payable on 02 June 2022 Shaoxing BSM Chemical Co., Ltd. announced cash dividend (tax included) of CNY 0.60000000 per 10 shares on (A shares) for 2021. Record date: 01 June 2022. Ex-date: 02 June 2022. Payment date: 02 June 2022. Aankondiging • May 20
Shaoxing Bsm Chemical Co., Ltd. Approves the Profit Distribution Proposal for 2021 Shaoxing BSM Chemical Co., Ltd. approved the profit distribution proposal for 2021. The company announced Cash dividend/10 shares (tax included) of CNY 0.60000000. Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: CN¥0.26 (vs CN¥0.20 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.26 (up from CN¥0.20 in 1Q 2021). Revenue: CN¥179.1m (up 21% from 1Q 2021). Net income: CN¥30.9m (up 27% from 1Q 2021). Profit margin: 17% (in line with 1Q 2021). Reported Earnings • Oct 27
Third quarter 2021 earnings released: EPS CN¥0.052 (vs CN¥0.02 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥82.6m (up 16% from 3Q 2020). Net income: CN¥6.55m (up 151% from 3Q 2020). Profit margin: 7.9% (up from 3.7% in 3Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS CN¥0.11 (vs CN¥0.071 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: CN¥127.3m (up 14% from 2Q 2020). Net income: CN¥13.1m (up 14% from 2Q 2020). Profit margin: 10% (in line with 2Q 2020). Reported Earnings • Apr 16
First quarter 2021 earnings released: EPS CN¥0.20 (vs CN¥0.01 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥148.6m (up 118% from 1Q 2020). Net income: CN¥24.3m (up CN¥23.4m from 1Q 2020). Profit margin: 16% (up from 1.3% in 1Q 2020). The increase in margin was driven by higher revenue. Aankondiging • Feb 24
Shaoxing BSM Chemical Co., Ltd. to Report Fiscal Year 2020 Results on Apr 08, 2021 Shaoxing BSM Chemical Co., Ltd. announced that they will report fiscal year 2020 results on Apr 08, 2021 Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥17.85, the stock is trading at a trailing P/E ratio of 78.7x, up from the previous P/E ratio of 67.3x. This compares to an average P/E of 37x in the Chemicals industry in China. Total return to shareholders over the past year is a loss of 19%. Is New 90 Day High Low • Feb 02
New 90-day low: CN¥16.17 The company is down 38% from its price of CN¥26.17 on 04 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 Chemicals industry, which is up 21% over the same period. Is New 90 Day High Low • Jan 13
New 90-day low: CN¥16.76 The company is down 31% from its price of CN¥24.27 on 15 October 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 11% over the same period. Is New 90 Day High Low • Dec 22
New 90-day low: CN¥20.73 The company is down 8.0% from its price of CN¥22.52 on 23 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 Chemicals industry, which is up 9.0% over the same period. Is New 90 Day High Low • Nov 05
New 90-day high: CN¥27.15 The company is up 32% from its price of CN¥20.54 on 07 August 2020. The Chinese market is down 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is down 2.0% over the same period. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥27.1m, down 66% from the prior year. Total revenue was CN¥370.9m over the last 12 months, down 30% from the prior year. Is New 90 Day High Low • Oct 20
New 90-day high: CN¥25.23 The company is up 19% from its price of CN¥21.28 on 22 July 2020. The Chinese market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 6.0% over the same period. Aankondiging • Aug 13
Shaoxing BSM Chemical Co., Ltd. to Report First Half, 2020 Results on Aug 28, 2020 Shaoxing BSM Chemical Co., Ltd. announced that they will report first half, 2020 results on Aug 28, 2020 