Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥19.03, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 25x in the Basic Materials industry in China. Total returns to shareholders of 147% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥11.66 per share. Declared Dividend • May 25
Dividend of CN¥0.48 announced Shareholders will receive a dividend of CN¥0.48. Ex-date: 29th May 2026 Payment date: 29th May 2026 Dividend yield will be 2.6%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (80% earnings payout ratio) and cash flows (61% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 76% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Apr 28
Gansu Shangfeng Cement Co.,Ltd, Annual General Meeting, May 19, 2026 Gansu Shangfeng Cement Co.,Ltd, Annual General Meeting, May 19, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Hangzhou, Zhejiang China Aankondiging • Mar 31
Gansu Shangfeng Cement Co.,Ltd to Report Q1, 2026 Results on Apr 28, 2026 Gansu Shangfeng Cement Co.,Ltd announced that they will report Q1, 2026 results on Apr 28, 2026 Aankondiging • Dec 31
Gansu Shangfeng Cement Co.,Ltd to Report Fiscal Year 2025 Results on Apr 28, 2026 Gansu Shangfeng Cement Co.,Ltd announced that they will report fiscal year 2025 results on Apr 28, 2026 Aankondiging • Sep 30
Gansu Shangfeng Cement Co.,Ltd to Report Q3, 2025 Results on Oct 28, 2025 Gansu Shangfeng Cement Co.,Ltd announced that they will report Q3, 2025 results on Oct 28, 2025 Aankondiging • Jul 02
Gansu Shangfeng Cement Co.,Ltd to Report First Half, 2025 Results on Aug 26, 2025 Gansu Shangfeng Cement Co.,Ltd announced that they will report first half, 2025 results on Aug 26, 2025 Aankondiging • Apr 25
Gansu Shangfeng Cement Co.,Ltd, Annual General Meeting, May 16, 2025 Gansu Shangfeng Cement Co.,Ltd, Annual General Meeting, May 16, 2025, at 14:30 China Standard Time. Location: Unit E, Building 1, No. 738, Wen'er West Road, Xihu District, Hangzhou, Zhejiang China Aankondiging • Mar 31
Gansu Shangfeng Cement Co.,Ltd to Report Q1, 2025 Results on Apr 25, 2025 Gansu Shangfeng Cement Co.,Ltd announced that they will report Q1, 2025 results on Apr 25, 2025 Aankondiging • Dec 31
Gansu Shangfeng Cement Co.,Ltd to Report Fiscal Year 2024 Results on Apr 25, 2025 Gansu Shangfeng Cement Co.,Ltd announced that they will report fiscal year 2024 results on Apr 25, 2025 Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.24 (vs CN¥0.17 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.24 (up from CN¥0.17 in 3Q 2023). Revenue: CN¥1.42b (down 15% from 3Q 2023). Net income: CN¥233.6m (up 38% from 3Q 2023). Profit margin: 16% (up from 10% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Aankondiging • Sep 30
Gansu Shangfeng Cement Co.,Ltd to Report Q3, 2024 Results on Oct 30, 2024 Gansu Shangfeng Cement Co.,Ltd announced that they will report Q3, 2024 results on Oct 30, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥7.26, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Basic Materials industry in China. Total loss to shareholders of 47% over the past three years. New Risk • Sep 08
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% 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 Dividend is not well covered by earnings (98% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.9% net profit margin). Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: CN¥0.13 (vs CN¥0.37 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.13 (down from CN¥0.37 in 2Q 2023). Revenue: CN¥1.48b (down 18% from 2Q 2023). Net income: CN¥156.2m (down 56% from 2Q 2023). Profit margin: 11% (down from 20% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Basic Materials 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 27% per year, which means it has not declined as severely as earnings. Aankondiging • Jun 29
Gansu Shangfeng Cement Co.,Ltd to Report First Half, 2024 Results on Aug 29, 2024 Gansu Shangfeng Cement Co.,Ltd announced that they will report first half, 2024 results on Aug 29, 2024 Board Change • Jun 25
High number of new directors There are 5 new directors who have joined the board in the last 3 years. VP, Secretary of the Board & Director Hui Qu was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Jun 18
Gansu Shangfeng Cement Co.,Ltd (SZSE:000672) announces an Equity Buyback for CNY 200 million worth of its shares. Gansu Shangfeng Cement Co.,Ltd (SZSE:000672) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its A shares. The shares will be purchased at a price not exceeding CNY 10.4 per share. The purpose of this share repurchase is necessary to maintain the company's value and shareholders' interests. The repurchased shares will be sold at an appropriate time twelve months after the company discloses the results of this repurchase and the announcement of share changes. If the company fails to implement the above-mentioned purpose within 36 months after the completion of the share repurchase, the unused portion will be cancelled. The program will be funded from company's own funds. The program will be valid for 3 months. Aankondiging • Apr 27
Gansu Shangfeng Cement Co.,Ltd Announces Profit Distribution Proposal for 2023 Gansu Shangfeng Cement Co.,Ltd announced on 25 April 2024 the profit distribution proposal for 2023 as follows: Cash dividend/10 shares (tax included) of CNY 4.00000000. Reported Earnings • Apr 26
Full year 2023 earnings released: EPS: CN¥0.78 (vs CN¥0.99 in FY 2022) Full year 2023 results: EPS: CN¥0.78 (down from CN¥0.99 in FY 2022). Revenue: CN¥6.40b (down 10% from FY 2022). Net income: CN¥744.3m (down 22% from FY 2022). Profit margin: 12% (down from 13% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Aankondiging • Apr 26
Gansu Shangfeng Cement Co.,Ltd, Annual General Meeting, May 16, 2024 Gansu Shangfeng Cement Co.,Ltd, Annual General Meeting, May 16, 2024, at 14:30 China Standard Time. Location: Unit E, Building 1, No. 738, Wen'er West Road, Xihu District, Hangzhou, Zhejiang China Aankondiging • Mar 30
Gansu Shangfeng Cement Co.,Ltd to Report Q1, 2024 Results on Apr 25, 2024 Gansu Shangfeng Cement Co.,Ltd announced that they will report Q1, 2024 results on Apr 25, 2024 Buy Or Sell Opportunity • Feb 06
Now 26% overvalued Over the last 90 days, the stock has fallen 18% to CN¥7.04. The fair value is estimated to be CN¥5.59, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 34%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to grow by 58% in the next 2 years. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥6.62, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 8x in the Basic Materials industry in China. Total loss to shareholders of 50% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥5.59 per share. Aankondiging • Dec 30
Gansu Shangfeng Cement Co.,Ltd to Report Fiscal Year 2023 Results on Apr 25, 2024 Gansu Shangfeng Cement Co.,Ltd announced that they will report fiscal year 2023 results on Apr 25, 2024 Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: CN¥0.17 (vs CN¥0.14 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.17 (up from CN¥0.14 in 3Q 2022). Revenue: CN¥1.67b (up 3.1% from 3Q 2022). Net income: CN¥169.2m (up 22% from 3Q 2022). Profit margin: 10% (up from 8.6% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: CN¥0.37 (vs CN¥0.37 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.37 (down from CN¥0.37 in 2Q 2022). Revenue: CN¥1.82b (down 11% from 2Q 2022). Net income: CN¥358.8m (down 2.0% from 2Q 2022). Profit margin: 20% (up from 18% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, earnings per share has fallen by 30% per year whereas the company’s share price has fallen by 26% per year. Aankondiging • May 18
Gansu Shangfeng Cement Co.,Ltd Declares Cash Dividend on A Shares for 2022, Payable on May 23, 2023 Gansu Shangfeng Cement Co.,Ltd declared Cash dividend/10 shares (tax included) of CNY 3.50000000 on A shares for 2022, payable on May 23, 2023. Record date: May 22, 2023 and Ex-date: May 23, 2023. Reported Earnings • Apr 23
First quarter 2023 earnings released: EPS: CN¥0.18 (vs CN¥0.36 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.18 (down from CN¥0.36 in 1Q 2022). Revenue: CN¥1.39b (down 6.8% from 1Q 2022). Net income: CN¥172.6m (down 49% from 1Q 2022). Profit margin: 12% (down from 23% in 1Q 2022). Revenue is forecast to grow 2.4% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Buying Opportunity • Apr 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 6.7%. The fair value is estimated to be CN¥14.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.7% over the last 3 years. Earnings per share has declined by 8.3%. Revenue is forecast to grow by 5.9% in 2 years. Earnings is forecast to grow by 22% in the next 2 years. Buying Opportunity • Dec 12
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 19%. The fair value is estimated to be CN¥15.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.7% over the last 3 years. Earnings per share has declined by 8.3%. Revenue is forecast to grow by 20% in 2 years. Earnings is forecast to grow by 60% in the next 2 years. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.14 (vs CN¥0.60 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.14 (down from CN¥0.60 in 3Q 2021). Revenue: CN¥1.62b (down 23% from 3Q 2021). Net income: CN¥139.1m (down 76% from 3Q 2021). Profit margin: 8.6% (down from 28% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Basic Materials industry in China. Reported Earnings • Aug 25
Second quarter 2022 earnings released: EPS: CN¥0.37 (vs CN¥0.69 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.37 (down from CN¥0.69 in 2Q 2021). Revenue: CN¥2.05b (down 13% from 2Q 2021). Net income: CN¥366.0m (down 44% from 2Q 2021). Profit margin: 18% (down from 28% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 17%, compared to a 14% growth forecast for the Basic Materials industry in China. Reported Earnings • Apr 27
First quarter 2022 earnings released: EPS: CN¥0.43 (vs CN¥0.44 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.43 (down from CN¥0.44 in 1Q 2021). Revenue: CN¥1.49b (up 22% from 1Q 2021). Net income: CN¥341.1m (down 3.8% from 1Q 2021). Profit margin: 23% (down from 29% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 11%, compared to a 18% growth forecast for the industry in China. 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 (6 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. Buying Opportunity • Mar 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.0%. The fair value is estimated to be CN¥24.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% per annum over the last 3 years. Earnings per share has grown by 12% per annum over the last 3 years. Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥18.92, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 6x in the Basic Materials industry in China. Total loss to shareholders of 1.4% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥25.01 per share. Buying Opportunity • Jan 14
Now 21% undervalued Over the last 90 days, the stock is up 9.2%. The fair value is estimated to be CN¥25.04, however is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% per annum over the last 3 years. Earnings per share has grown by 12% per annum over the last 3 years. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.72 (vs CN¥0.63 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: CN¥2.10b (up 33% from 3Q 2020). Net income: CN¥579.4m (up 15% from 3Q 2020). Profit margin: 28% (down from 32% in 3Q 2020). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 19% share price decline to CN¥19.96, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Basic Materials industry in China. Total loss to shareholders of 14% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥23.55 per share. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥23.71, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Basic Materials industry in China. Total loss to shareholders of 3.6% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥23.65 per share. Reported Earnings • Aug 24
Second quarter 2021 earnings released: EPS CN¥0.82 (vs CN¥0.84 in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥2.37b (up 30% from 2Q 2020). Net income: CN¥655.2m (down 2.5% from 2Q 2020). Profit margin: 28% (down from 37% in 2Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS CN¥0.44 (vs CN¥0.42 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: CN¥1.22b (up 16% from 1Q 2020). Net income: CN¥354.5m (up 5.4% from 1Q 2020). Profit margin: 29% (down from 32% in 1Q 2020). The decrease in margin was driven by higher expenses. 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¥21.33, the stock is trading at a trailing P/E ratio of 7.4x, up from the previous P/E ratio of 6.3x. This compares to an average P/E of 16x in the Basic Materials industry in China. Total returns to shareholders over the past year are 21%. Is New 90 Day High Low • Jan 22
New 90-day low: CN¥18.21 The company is down 17% from its price of CN¥21.85 on 23 October 2020. The Chinese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥58.87 per share. Is New 90 Day High Low • Dec 16
New 90-day low: CN¥21.16 The company is down 20% from its price of CN¥26.53 on 18 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 Basic Materials industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥58.95 per share. Is New 90 Day High Low • Nov 03
New 90-day low: CN¥21.20 The company is down 30% from its price of CN¥30.13 on 05 August 2020. The Chinese market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is down 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥46.74 per share. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥2.30b, up 9.9% from the prior year. Total revenue was CN¥7.28b over the last 12 months, up 16% from the prior year. Is New 90 Day High Low • Oct 17
New 90-day low: CN¥23.90 The company is down 11% from its price of CN¥26.95 on 17 July 2020. The Chinese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥45.30 per share.