New Risk • May 05
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.6% Last year net profit margin: 2.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 14% 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 (1.6% net profit margin). Reported Earnings • Apr 29
Full year 2025 earnings released: EPS: CN¥0.69 (vs CN¥0.81 in FY 2024) Full year 2025 results: EPS: CN¥0.69 (down from CN¥0.81 in FY 2024). Revenue: CN¥1.62b (down 5.0% from FY 2024). Net income: CN¥32.7m (down 15% from FY 2024). Profit margin: 2.0% (down from 2.3% in FY 2024). Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 6% per year. Aankondiging • Apr 29
Super-Dragon Engineering Plastics Co., Ltd, Annual General Meeting, May 20, 2026 Super-Dragon Engineering Plastics Co., Ltd, Annual General Meeting, May 20, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Conghua, Guangzhou China Aankondiging • Mar 31
Super-Dragon Engineering Plastics Co., Ltd to Report Q1, 2026 Results on Apr 29, 2026 Super-Dragon Engineering Plastics Co., Ltd announced that they will report Q1, 2026 results on Apr 29, 2026 Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥38.36, the stock trades at a trailing P/E ratio of 42.1x. Average trailing P/E is 45x in the Chemicals industry in China. Total returns to shareholders of 1.2% over the past three years. Aankondiging • Dec 31
Super-Dragon Engineering Plastics Co., Ltd to Report Fiscal Year 2025 Results on Apr 29, 2026 Super-Dragon Engineering Plastics Co., Ltd announced that they will report fiscal year 2025 results on Apr 29, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.34 (vs CN¥0.25 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.34 (up from CN¥0.25 in 3Q 2024). Revenue: CN¥399.7m (down 5.8% from 3Q 2024). Net income: CN¥16.0m (up 36% from 3Q 2024). Profit margin: 4.0% (up from 2.8% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 9% per year. Aankondiging • Sep 30
Super-Dragon Engineering Plastics Co., Ltd to Report Q3, 2025 Results on Oct 30, 2025 Super-Dragon Engineering Plastics Co., Ltd announced that they will report Q3, 2025 results on Oct 30, 2025 Aankondiging • Aug 30
Super-Dragon Engineering Plastics Co., Ltd Proposes Interim Cash Dividend for 2025 Super-Dragon Engineering Plastics Co. Ltd. at 2nd Extraordinary General Meeting of 2025 to be held on 15 September 2025 proposed 2025 interim profit distribution plan of Cash dividend/10 shares (tax included): CNY 2.00000000. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥55.00, the stock trades at a trailing P/E ratio of 66x. Average trailing P/E is 43x in the Chemicals industry in China. Total loss to shareholders of 2.7% over the past three years. Aankondiging • Jul 02
Super-Dragon Engineering Plastics Co., Ltd to Report First Half, 2025 Results on Aug 29, 2025 Super-Dragon Engineering Plastics Co., Ltd announced that they will report first half, 2025 results on Aug 29, 2025 Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥53.90, the stock trades at a trailing P/E ratio of 64.7x. Average trailing P/E is 37x in the Chemicals industry in China. Total returns to shareholders of 32% over the past three years. New Risk • Apr 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 8.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.5x net interest cover). Earnings have declined by 18% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.8% average weekly change). Profit margins are more than 30% lower than last year (1.9% net profit margin). Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to CN¥45.88, the stock trades at a trailing P/E ratio of 72.7x. Average trailing P/E is 36x in the Chemicals industry in China. Total returns to shareholders of 24% over the past three years. Aankondiging • Apr 29
Super-Dragon Engineering Plastics Co., Ltd, Annual General Meeting, May 19, 2025 Super-Dragon Engineering Plastics Co., Ltd, Annual General Meeting, May 19, 2025, at 14:00 China Standard Time. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥32.38, the stock trades at a trailing P/E ratio of 51.3x. Average trailing P/E is 37x in the Chemicals industry in China. Total loss to shareholders of 23% over the past three years. Aankondiging • Mar 31
Super-Dragon Engineering Plastics Co., Ltd to Report Q1, 2025 Results on Apr 29, 2025 Super-Dragon Engineering Plastics Co., Ltd announced that they will report Q1, 2025 results on Apr 29, 2025 Aankondiging • Dec 31
Super-Dragon Engineering Plastics Co., Ltd to Report Fiscal Year 2024 Results on Apr 29, 2025 Super-Dragon Engineering Plastics Co., Ltd announced that they will report fiscal year 2024 results on Apr 29, 2025 Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.25 (vs CN¥0.28 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.25 (down from CN¥0.28 in 3Q 2023). Revenue: CN¥424.1m (up 9.9% from 3Q 2023). Net income: CN¥11.8m (down 14% from 3Q 2023). Profit margin: 2.8% (down from 3.5% in 3Q 2023). The decrease in margin was driven by higher expenses. Aankondiging • Sep 30
Super-Dragon Engineering Plastics Co., Ltd to Report Q3, 2024 Results on Oct 30, 2024 Super-Dragon Engineering Plastics Co., Ltd announced that they will report Q3, 2024 results on Oct 30, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to CN¥35.24, the stock trades at a trailing P/E ratio of 52.6x. Average trailing P/E is 30x in the Chemicals industry in China. Total loss to shareholders of 15% over the past year. Aankondiging • Jun 29
Super-Dragon Engineering Plastics Co., Ltd to Report First Half, 2024 Results on Aug 30, 2024 Super-Dragon Engineering Plastics Co., Ltd announced that they will report first half, 2024 results on Aug 30, 2024 Declared Dividend • May 27
Dividend increased to CN¥0.37 Dividend of CN¥0.37 is 85% higher than last year. Ex-date: 30th May 2024 Payment date: 30th May 2024 Dividend yield will be 0.8%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (39% 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 decreased over the past 26 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 3.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Aankondiging • May 25
Super-Dragon Engineering Plastics Co., Ltd Announces 2023 Final Profit Distribution, Payable on May 30, 2024 Super-Dragon Engineering Plastics Co. Ltd. announced 2023 final profit distribution plan to be implemented (A shares) as Cash dividend/10 shares (tax included) of CNY3.70000000. Record date: 29 May 2023. Ex-date: 30 May 2023. Payment date: May 30, 2024. New Risk • May 12
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 17% per year over the past 5 years. High level of non-cash earnings (24% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.6% average weekly change). Reported Earnings • May 02
First quarter 2024 earnings released: EPS: CN¥0.30 (vs CN¥0.14 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.30 (up from CN¥0.14 in 1Q 2023). Revenue: CN¥340.7m (up 18% from 1Q 2023). Net income: CN¥14.5m (up 118% from 1Q 2023). Profit margin: 4.2% (up from 2.3% in 1Q 2023). The increase in margin was driven by higher revenue. Aankondiging • Apr 30
Super-Dragon Engineering Plastics Co., Ltd, Annual General Meeting, May 20, 2024 Super-Dragon Engineering Plastics Co., Ltd, Annual General Meeting, May 20, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Guangzhou, Guangdong China Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CN¥30.00, the stock trades at a trailing P/E ratio of 31.3x. Average trailing P/E is 28x in the Chemicals industry in China. Total loss to shareholders of 18% over the past year. Aankondiging • Mar 30
Super-Dragon Engineering Plastics Co., Ltd to Report Q1, 2024 Results on Apr 29, 2024 Super-Dragon Engineering Plastics Co., Ltd announced that they will report Q1, 2024 results on Apr 29, 2024 Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥34.88, the stock trades at a trailing P/E ratio of 36.4x. Average trailing P/E is 28x in the Chemicals industry in China. Total loss to shareholders of 17% over the past year. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to CN¥32.93, the stock trades at a trailing P/E ratio of 34.3x. Average trailing P/E is 28x in the Chemicals industry in China. Total loss to shareholders of 31% over the past year. Aankondiging • Dec 30
Super-Dragon Engineering Plastics Co., Ltd to Report Fiscal Year 2023 Results on Apr 29, 2024 Super-Dragon Engineering Plastics Co., Ltd announced that they will report fiscal year 2023 results on Apr 29, 2024 Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥50.94, the stock trades at a trailing P/E ratio of 53.1x. Average trailing P/E is 35x in the Chemicals industry in China. Total returns to shareholders of 40% over the past year. Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.28 (vs CN¥0.078 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.28 (up from CN¥0.078 in 3Q 2022). Revenue: CN¥385.8m (up 36% from 3Q 2022). Net income: CN¥13.6m (up 265% from 3Q 2022). Profit margin: 3.5% (up from 1.3% in 3Q 2022). New Risk • Oct 18
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 Earnings have declined by 5.9% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Large one-off items impacting financial results. Aankondiging • Oct 01
Super-Dragon Engineering Plastics Co., Ltd to Report Q3, 2023 Results on Oct 30, 2023 Super-Dragon Engineering Plastics Co., Ltd announced that they will report Q3, 2023 results on Oct 30, 2023 Reported Earnings • Aug 21
Second quarter 2023 earnings released: EPS: CN¥0.27 (vs CN¥0.14 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.27 (up from CN¥0.14 in 2Q 2022). Revenue: CN¥361.5m (up 19% from 2Q 2022). Net income: CN¥13.1m (up 154% from 2Q 2022). Profit margin: 3.6% (up from 1.7% in 2Q 2022). Aankondiging • Jun 06
Super-Dragon Engineering Plastics Co., Ltd Announces 2022 Final Profit Distribution Plan to Be Implemented (A Shares), Payable on 09 June 2023 Super-Dragon Engineering Plastics Co. Ltd. announced 2022 final profit distribution plan to be implemented (A shares) as Cash dividend/10 shares (tax included) of CNY 2.00000000. Record date: 08 June 2023. Ex-date: 09 June 2023. Payment date: 09 June 2023. Reported Earnings • Apr 18
Full year 2022 earnings released: EPS: CN¥0.77 (vs CN¥1.79 in FY 2021) Full year 2022 results: EPS: CN¥0.77 (down from CN¥1.79 in FY 2021). Revenue: CN¥1.30b (flat on FY 2021). Net income: CN¥34.5m (down 46% from FY 2021). Profit margin: 2.6% (down from 4.9% in FY 2021). Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥47.76, the stock trades at a trailing P/E ratio of 68.9x. Average trailing P/E is 28x in the Chemicals industry in China. Board Change • Nov 16
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 3 experienced directors. No highly experienced directors. Non-Independent Director Wenzhi Liu is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.078 (vs CN¥0.40 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.078 (down from CN¥0.40 in 3Q 2021). Revenue: CN¥284.5m (down 20% from 3Q 2021). Net income: CN¥3.73m (down 74% from 3Q 2021). Profit margin: 1.3% (down from 4.1% in 3Q 2021). Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: CN¥0.14 (vs CN¥0.46 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.14 (down from CN¥0.46 in 2Q 2021). Revenue: CN¥302.7m (up 5.4% from 2Q 2021). Net income: CN¥5.14m (down 69% from 2Q 2021). Profit margin: 1.7% (down from 5.8% in 2Q 2021). Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥44.31, the stock trades at a trailing P/E ratio of 34.9x. Average trailing P/E is 30x in the Chemicals industry in China. Valuation Update With 7 Day Price Move • Aug 08
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥51.90, the stock trades at a trailing P/E ratio of 40.8x. Average trailing P/E is 29x in the Chemicals industry in China. Aankondiging • Jun 15
Super-Dragon Engineering Plastics Co., Ltd Approves 2021 Final Profit Distribution Plan to Be Implemented (A Shares), Payable on June 20, 2022 Super-Dragon Engineering Plastics Co. Ltd. approved 2021 final profit distribution plan to be implemented (A shares), Payable on June 20, 2022. The company announced Cash dividend/10 shares (tax included) of CNY 5.00000000. The record date is June 17, 2022 and ex-date is June 20, 2022. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥49.90, the stock trades at a trailing P/E ratio of 39.3x. Average trailing P/E is 26x in the Chemicals industry in China. Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: CN¥0.27 (vs CN¥0.46 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.27 (down from CN¥0.46 in 1Q 2021). Revenue: CN¥342.7m (up 19% from 1Q 2021). Net income: CN¥13.1m (down 21% from 1Q 2021). Profit margin: 3.8% (down from 5.8% in 1Q 2021). The decrease in margin was driven by higher expenses. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 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: Lack of independent directors. Insufficient board refreshment. Board Change • Mar 14
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 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: Lack of independent directors. Insufficient board refreshment.