New Risk • Jul 30
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 316% Dividend yield: 0.5% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 Risk Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risks Dividend is not well covered by cash flows (316% cash payout ratio). Large one-off items impacting financial results. Aankondiging • Jun 30
Sichuan Em Technology Co., Ltd. to Report First Half, 2026 Results on Aug 21, 2026 Sichuan Em Technology Co., Ltd. announced that they will report first half, 2026 results on Aug 21, 2026 New Risk • Jun 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 10% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risk Large one-off items impacting financial results. Aankondiging • Jun 09
Sichuan Em Technology Co., Ltd., Annual General Meeting, Jun 29, 2026 Sichuan Em Technology Co., Ltd., Annual General Meeting, Jun 29, 2026, at 14:00 China Standard Time. Location: No. 209, Jingde Road, Pidu District, Chengdu, Sichuan China Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Sheng Zhong was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Mar 30
Sichuan Em Technology Co., Ltd. to Report Q1, 2026 Results on Apr 23, 2026 Sichuan Em Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 23, 2026 Aankondiging • Dec 26
Sichuan Em Technology Co., Ltd. to Report Fiscal Year 2025 Results on Apr 23, 2026 Sichuan Em Technology Co., Ltd. announced that they will report fiscal year 2025 results on Apr 23, 2026 Aankondiging • Sep 30
Sichuan Em Technology Co., Ltd. to Report Q3, 2025 Results on Oct 24, 2025 Sichuan Em Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 24, 2025 Aankondiging • Jun 30
Sichuan Em Technology Co., Ltd. to Report First Half, 2025 Results on Aug 28, 2025 Sichuan Em Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Aankondiging • Apr 25
Sichuan Em Technology Co., Ltd., Annual General Meeting, May 15, 2025 Sichuan Em Technology Co., Ltd., Annual General Meeting, May 15, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Mianyang, Sichuan China Aankondiging • Mar 28
Sichuan Em Technology Co., Ltd. to Report Q1, 2025 Results on Apr 25, 2025 Sichuan Em Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 25, 2025 Aankondiging • Dec 27
Sichuan Em Technology Co., Ltd. to Report Fiscal Year 2024 Results on Apr 25, 2025 Sichuan Em Technology Co., Ltd. announced that they will report fiscal year 2024 results on Apr 25, 2025 Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: CN¥0.08 (vs CN¥0.091 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.08 (down from CN¥0.091 in 3Q 2023). Revenue: CN¥1.12b (up 13% from 3Q 2023). Net income: CN¥76.4m (down 11% from 3Q 2023). Profit margin: 6.8% (down from 8.6% in 3Q 2023). Revenue is forecast to grow 20% 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 fallen by 17% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥8.44, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 16x in the Chemicals industry in China. Total loss to shareholders of 45% over the past three years. Aankondiging • Sep 30
Sichuan Em Technology Co., Ltd. to Report Q3, 2024 Results on Oct 26, 2024 Sichuan Em Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 26, 2024 Valuation Update With 7 Day Price Move • Sep 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥7.27, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Chemicals industry in China. Total loss to shareholders of 56% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥3.07 per share. Reported Earnings • Aug 22
Second quarter 2024 earnings released: EPS: CN¥0.12 (vs CN¥0.16 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.12 (down from CN¥0.16 in 2Q 2023). Revenue: CN¥1.20b (up 24% from 2Q 2023). Net income: CN¥109.1m (down 27% from 2Q 2023). Profit margin: 9.1% (down from 15% in 2Q 2023). Revenue is forecast to grow 20% 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 4% per year but the company’s share price has fallen by 29% per year, which means it is performing significantly worse than earnings. Aankondiging • Jun 28
Sichuan Em Technology Co., Ltd. to Report First Half, 2024 Results on Aug 22, 2024 Sichuan Em Technology Co., Ltd. announced that they will report first half, 2024 results on Aug 22, 2024 Declared Dividend • Jun 01
Dividend increased to CN¥0.15 Dividend of CN¥0.15 is 50% higher than last year. Ex-date: 5th June 2024 Payment date: 5th June 2024 Dividend yield will be 1.9%, 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 6.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 106% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 16
Third quarter 2023 earnings released: EPS: CN¥0.091 (vs CN¥0.09 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.091 (up from CN¥0.09 in 3Q 2022). Revenue: CN¥996.9m (up 14% from 3Q 2022). Net income: CN¥85.5m (up 5.3% from 3Q 2022). Profit margin: 8.6% (down from 9.3% in 3Q 2022). Revenue is forecast to grow 27% p.a. on average during the next 4 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Aankondiging • Apr 13
Sichuan Em Technology Co., Ltd., Annual General Meeting, May 07, 2024 Sichuan Em Technology Co., Ltd., Annual General Meeting, May 07, 2024, at 13:30 China Standard Time. Aankondiging • Mar 30
Sichuan Em Technology Co., Ltd. to Report Q1, 2024 Results on Apr 13, 2024 Sichuan Em Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 13, 2024 Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥8.93, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 15x in the Chemicals industry in China. Total loss to shareholders of 8.0% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥3.73 per share. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥11.48, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 14x in the Chemicals industry in China. Total returns to shareholders of 26% over the past three years. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥8.89, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Chemicals industry in China. Total returns to shareholders of 9.3% over the past three years. Aankondiging • Jan 29
Sichuan Em Technology Co., Ltd. (SHSE:601208) announces an Equity Buyback for CNY 100 million worth of its shares. Sichuan Em Technology Co., Ltd. (SHSE:601208) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its Class A shares. The shares will be repurchased at no more than CNY 12 per share. The purpose of the program is to use the repurchased shares for equity incentive plans. The plan will be valid for 12 months. Aankondiging • Sep 30
Sichuan Em Technology Co., Ltd. to Report Q3, 2023 Results on Oct 18, 2023 Sichuan Em Technology Co., Ltd. announced that they will report Q3, 2023 results on Oct 18, 2023 Reported Earnings • Aug 18
Second quarter 2023 earnings released: EPS: CN¥0.16 (vs CN¥0.18 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.16 (down from CN¥0.18 in 2Q 2022). Revenue: CN¥970.6m (up 4.3% from 2Q 2022). Net income: CN¥149.6m (down 6.7% from 2Q 2022). Profit margin: 15% (down from 17% in 2Q 2022). Revenue is forecast to grow 22% 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 27% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Aankondiging • Jun 28
Sichuan Em Technology Co., Ltd. to Report First Half, 2023 Results on Aug 18, 2023 Sichuan Em Technology Co., Ltd. announced that they will report first half, 2023 results on Aug 18, 2023 Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥12.64, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 15x in the Chemicals industry in China. Total returns to shareholders of 168% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥19.45 per share. Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: CN¥0.46 (vs CN¥0.40 in FY 2021) Full year 2022 results: EPS: CN¥0.46 (up from CN¥0.40 in FY 2021). Revenue: CN¥3.64b (up 13% from FY 2021). Net income: CN¥415.0m (up 22% from FY 2021). Profit margin: 11% (in line with FY 2021). Revenue is forecast to grow 31% 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 increased by 44% per year whereas the company’s share price has increased by 47% per year. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 new directors. 3 experienced directors. 1 highly experienced director. 2 independent directors (4 non-independent directors). Director XingLing Yao is the most experienced director on the board, commencing their role in 2008. Independent Director Yong Huang was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥12.14, 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 246% over the past three years. Reported Earnings • Oct 29
Third quarter 2022 earnings released: EPS: CN¥0.09 (vs CN¥0.10 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.09 (down from CN¥0.10 in 3Q 2021). Revenue: CN¥872.9m (flat on 3Q 2021). Net income: CN¥81.3m (down 11% from 3Q 2021). Profit margin: 9.3% (down from 11% in 3Q 2021). Revenue is forecast to grow 32% 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 53% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 19
Second quarter 2022 earnings released: EPS: CN¥0.18 (vs CN¥0.11 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.18 (up from CN¥0.11 in 2Q 2021). Revenue: CN¥930.3m (up 10% from 2Q 2021). Net income: CN¥160.4m (up 68% from 2Q 2021). Profit margin: 17% (up from 11% in 2Q 2021). Over the next year, revenue is forecast to grow 66%, compared to a 41% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 59% per year whereas the company’s share price has increased by 61% per year. Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥13.32, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 18x in the Chemicals industry in China. Total returns to shareholders of 290% over the past three years. Reported Earnings • May 02
First quarter 2022 earnings released: EPS: CN¥0.11 (vs CN¥0.11 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.11 (up from CN¥0.11 in 1Q 2021). Revenue: CN¥904.4m (up 21% from 1Q 2021). Net income: CN¥101.8m (up 20% from 1Q 2021). Profit margin: 11% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 58%, compared to a 42% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
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. 7 experienced directors. No highly experienced 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: Insufficient board refreshment. Reported Earnings • Apr 03
Full year 2021 earnings released: EPS: CN¥0.40 (vs CN¥0.22 in FY 2020) Full year 2021 results: EPS: CN¥0.40 (up from CN¥0.22 in FY 2020). Revenue: CN¥3.23b (up 72% from FY 2020). Net income: CN¥340.9m (up 94% from FY 2020). Profit margin: 11% (up from 9.3% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 57%, compared to a 48% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥16.52, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 18x in the Chemicals industry in China. Total returns to shareholders of 478% over the past three years. Reported Earnings • Oct 19
Third quarter 2021 earnings released: EPS CN¥0.10 (vs CN¥0.066 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: CN¥864.9m (up 77% from 3Q 2020). Net income: CN¥91.1m (up 70% from 3Q 2020). Profit margin: 11% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 76% per year whereas the company’s share price has increased by 81% per year. Reported Earnings • Aug 19
Second quarter 2021 earnings released: EPS CN¥0.11 (vs CN¥0.24 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¥842.7m (up 75% from 2Q 2020). Net income: CN¥95.3m (down 53% from 2Q 2020). Profit margin: 11% (down from 42% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has increased by 74% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥14.67, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 20x in the Chemicals industry in China. Total returns to shareholders of 389% over the past three years. Reported Earnings • May 03
Full year 2020 earnings released: EPS CN¥0.29 (vs CN¥0.12 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥1.88b (up 8.4% from FY 2019). Net income: CN¥175.5m (up 141% from FY 2019). Profit margin: 9.3% (up from 4.2% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 23
New 90-day high: CN¥12.38 The company is up 3.0% from its price of CN¥12.01 on 25 November 2020. The Chinese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 18% over the same period. Is New 90 Day High Low • Jan 20
New 90-day high: CN¥12.14 The company is up 29% from its price of CN¥9.41 on 23 October 2020. The Chinese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 17% over the same period. Is New 90 Day High Low • Nov 05
New 90-day high: CN¥10.53 The company is up 18% from its price of CN¥8.90 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 28
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥158.1m, up 248% from the prior year. Total revenue was CN¥1.97b over the last 12 months, up 17% from the prior year. Valuation Update With 7 Day Price Move • Oct 15
Market bids up stock over the past week After last week's 15% share price gain to CN¥10.36, the stock is trading at a trailing P/E ratio of 23.1x, up from the previous P/E ratio of 20x. This compares to an average P/E of 40x in the Chemicals industry in China. Total returns to shareholders over the past three years are 53%. Is New 90 Day High Low • Oct 10
New 90-day high: CN¥9.46 The company is up 19% from its price of CN¥7.97 on 10 July 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 up 3.0% over the same period.