Announcement • Apr 30
Sichuan Road & Bridge Group Co.,Ltd, Annual General Meeting, May 27, 2026 Sichuan Road & Bridge Group Co.,Ltd, Annual General Meeting, May 27, 2026, at 14:30 China Standard Time. Location: No. 12, Jiuxing Avenue, Hi-tech Zone, Chengdu, Sichuan China Reported Earnings • Apr 25
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: CN¥0.84 (up from CN¥0.83 in FY 2024). Revenue: CN¥115.1b (up 7.3% from FY 2024). Net income: CN¥7.30b (up 1.2% from FY 2024). Profit margin: 6.3% (down from 6.7% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.7%. Revenue is forecast to grow 5.4% p.a. on average during the next 2 years, compared to a 7.0% growth forecast for the Construction 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 4% per year, which means it has not declined as severely as earnings. Announcement • Mar 30
Sichuan Road & Bridge Group Co.,Ltd to Report Q1, 2026 Results on Apr 30, 2026 Sichuan Road & Bridge Group Co.,Ltd announced that they will report Q1, 2026 results on Apr 30, 2026 Price Target Changed • Feb 14
Price target increased by 10% to CN¥13.48 Up from CN¥12.24, the current price target is provided by 1 analyst. New target price is 41% above last closing price of CN¥9.55. Stock is up 35% over the past year. The company is forecast to post earnings per share of CN¥0.92 for next year compared to CN¥0.83 last year. Announcement • Dec 26
Sichuan Road & Bridge Group Co.,Ltd to Report Fiscal Year 2025 Results on Apr 25, 2026 Sichuan Road & Bridge Group Co.,Ltd announced that they will report fiscal year 2025 results on Apr 25, 2026 Buy Or Sell Opportunity • Oct 14
Now 21% overvalued Over the last 90 days, the stock has fallen 1.5% to CN¥8.43. The fair value is estimated to be CN¥6.98, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Earnings per share has declined by 19%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to grow by 34% in the next 2 years. Announcement • Sep 30
Sichuan Road & Bridge Group Co.,Ltd to Report Q3, 2025 Results on Oct 31, 2025 Sichuan Road & Bridge Group Co.,Ltd announced that they will report Q3, 2025 results on Oct 31, 2025 Reported Earnings • Aug 31
Second quarter 2025 earnings released: EPS: CN¥0.12 (vs CN¥0.17 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.12 (down from CN¥0.17 in 2Q 2024). Revenue: CN¥20.5b (down 13% from 2Q 2024). Net income: CN¥1.01b (down 30% from 2Q 2024). Profit margin: 4.9% (down from 6.1% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Construction industry in China. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Aug 20
Now 20% overvalued Over the last 90 days, the stock has fallen 11% to CN¥8.30. The fair value is estimated to be CN¥6.91, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.1% over the last 3 years. Earnings per share has declined by 13%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 24% in the next 2 years. Announcement • Jun 30
Sichuan Road & Bridge Group Co.,Ltd to Report First Half, 2025 Results on Aug 30, 2025 Sichuan Road & Bridge Group Co.,Ltd announced that they will report first half, 2025 results on Aug 30, 2025 Buy Or Sell Opportunity • May 07
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 28% to CN¥9.04. The fair value is estimated to be CN¥7.51, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.1% over the last 3 years. Earnings per share has declined by 13%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 24% in the next 2 years. Announcement • Apr 30
Sichuan Road & Bridge Group Co.,Ltd (SHSE:600039) announces an Equity Buyback for CNY 200 million worth of its shares. Sichuan Road & Bridge Group Co.,Ltd. (SHSE:600039) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its class A shares. The repurchase price will not be more than CNY 12.54 per share. The repurchased shares will be used for equity incentive or to convert the company’s issued convertible bonds. The program is valid for 12 months. Reported Earnings • Apr 27
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: CN¥0.83 (down from CN¥1.04 in FY 2023). Revenue: CN¥107.2b (down 6.8% from FY 2023). Net income: CN¥7.21b (down 20% from FY 2023). Profit margin: 6.7% (down from 7.8% in FY 2023). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) missed analyst estimates by 6.0%. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Construction industry in China. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Price Target Changed • Apr 25
Price target increased by 10.0% to CN¥11.02 Up from CN¥10.02, the current price target is an average from 2 analysts. New target price is 24% above last closing price of CN¥8.86. Stock is up 21% over the past year. The company is forecast to post earnings per share of CN¥0.88 for next year compared to CN¥1.04 last year. Announcement • Apr 23
Sichuan Road & Bridge Group Co.,Ltd, Annual General Meeting, May 13, 2025 Sichuan Road & Bridge Group Co.,Ltd, Annual General Meeting, May 13, 2025, at 14:30 China Standard Time. Location: No. 12, Jiuxing Avenue, High-tech Zone, Chengdu, Sichuan China Announcement • Mar 28
Sichuan Road & Bridge Group Co.,Ltd to Report Q1, 2025 Results on Apr 30, 2025 Sichuan Road & Bridge Group Co.,Ltd announced that they will report Q1, 2025 results on Apr 30, 2025 Price Target Changed • Feb 27
Price target increased by 16% to CN¥10.18 Up from CN¥8.75, the current price target is an average from 2 analysts. New target price is 39% above last closing price of CN¥7.32. Stock is down 10% over the past year. The company is forecast to post earnings per share of CN¥0.90 for next year compared to CN¥1.04 last year. Price Target Changed • Feb 25
Price target increased by 12% to CN¥9.18 Up from CN¥8.22, the current price target is an average from 2 analysts. New target price is 29% above last closing price of CN¥7.13. Stock is down 12% over the past year. The company is forecast to post earnings per share of CN¥0.86 for next year compared to CN¥1.04 last year. Buy Or Sell Opportunity • Feb 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.6% to CN¥6.98. The fair value is estimated to be CN¥8.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 19% in 2 years. Earnings are forecast to grow by 34% in the next 2 years. Buy Or Sell Opportunity • Jan 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to CN¥6.89. The fair value is estimated to be CN¥8.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 19% in 2 years. Earnings are forecast to grow by 34% in the next 2 years. Announcement • Dec 27
Sichuan Road & Bridge Group Co.,Ltd to Report Fiscal Year 2024 Results on Apr 23, 2025 Sichuan Road & Bridge Group Co.,Ltd announced that they will report fiscal year 2024 results on Apr 23, 2025 Price Target Changed • Nov 04
Price target increased by 18% to CN¥9.70 Up from CN¥8.22, the current price target is an average from 3 analysts. New target price is 31% above last closing price of CN¥7.38. Stock is down 5.6% over the past year. The company is forecast to post earnings per share of CN¥0.99 for next year compared to CN¥1.04 last year. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.18 (vs CN¥0.24 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.18 (down from CN¥0.24 in 3Q 2023). Revenue: CN¥26.1b (up 13% from 3Q 2023). Net income: CN¥1.58b (down 25% from 3Q 2023). Profit margin: 6.0% (down from 9.1% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Construction industry in China. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 1% per year. Valuation Update With 7 Day Price Move • Oct 16
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥8.29, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 12x in the Construction industry in China. Total returns to shareholders of 64% over the past three years. Announcement • Sep 30
Sichuan Road & Bridge Group Co.,Ltd to Report Q3, 2024 Results on Oct 31, 2024 Sichuan Road & Bridge Group Co.,Ltd announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥7.03, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Construction industry in China. Total returns to shareholders of 39% over the past three years. Major Estimate Revision • Sep 06
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥126.4b to CN¥121.1b. EPS estimate also fell from CN¥1.10 per share to CN¥0.96 per share. Net income forecast to grow 33% next year vs 24% growth forecast for Construction industry in China. Consensus price target down from CN¥10.01 to CN¥8.22. Share price fell 2.7% to CN¥5.50 over the past week. Reported Earnings • Sep 01
Second quarter 2024 earnings released: EPS: CN¥0.17 (vs CN¥0.34 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.17 (down from CN¥0.34 in 2Q 2023). Revenue: CN¥23.7b (down 34% from 2Q 2023). Net income: CN¥1.44b (down 51% from 2Q 2023). Profit margin: 6.1% (down from 8.2% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Construction industry in China. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jul 30
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to CN¥6.20. The fair value is estimated to be CN¥7.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 18%. Revenue is forecast to grow by 36% in 2 years. Earnings are forecast to grow by 36% in the next 2 years. Announcement • Jun 28
Sichuan Road & Bridge Group Co.,Ltd to Report First Half, 2024 Results on Aug 31, 2024 Sichuan Road & Bridge Group Co.,Ltd announced that they will report first half, 2024 results on Aug 31, 2024 Board Change • Jun 09
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chairman of Supervisory Board Wei Huang was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • May 01
Sichuan Road & Bridge Group Co.,Ltd, Annual General Meeting, May 31, 2024 Sichuan Road & Bridge Group Co.,Ltd, Annual General Meeting, May 31, 2024, at 14:30 China Standard Time. Location: No. 12, Jiuxing Avenue, High-tech Zone, Chengdu, Sichuan China Reported Earnings • Apr 24
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥1.04 (down from CN¥1.29 in FY 2022). Revenue: CN¥115.0b (down 15% from FY 2022). Net income: CN¥9.00b (down 20% from FY 2022). Profit margin: 7.8% (down from 8.3% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 23%. Earnings per share (EPS) also missed analyst estimates by 40%. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Construction industry in China. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Apr 09
Now 21% undervalued Over the last 90 days, the stock has risen 2.5% to CN¥7.69. The fair value is estimated to be CN¥9.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to grow by 44% in 2 years. Earnings are forecast to grow by 38% in the next 2 years. Announcement • Mar 29
Sichuan Road & Bridge Co.,Ltd to Report Q1, 2024 Results on Apr 30, 2024 Sichuan Road & Bridge Co.,Ltd announced that they will report Q1, 2024 results on Apr 30, 2024 Buy Or Sell Opportunity • Mar 12
Now 21% undervalued Over the last 90 days, the stock has risen 4.6% to CN¥7.78. The fair value is estimated to be CN¥9.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to grow by 44% in 2 years. Earnings are forecast to grow by 38% in the next 2 years. Buy Or Sell Opportunity • Feb 08
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at CN¥7.95. The fair value is estimated to be CN¥9.97, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to grow by 44% in 2 years. Earnings are forecast to grow by 38% in the next 2 years. Buying Opportunity • Jan 18
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 7.7%. The fair value is estimated to be CN¥9.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to grow by 53% in 2 years. Earnings is forecast to grow by 55% in the next 2 years. Announcement • Dec 29
Sichuan Road & Bridge Co.,Ltd to Report Fiscal Year 2023 Results on Apr 22, 2024 Sichuan Road & Bridge Co.,Ltd announced that they will report fiscal year 2023 results on Apr 22, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.24 (vs CN¥0.35 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.24 (down from CN¥0.35 in 3Q 2022). Revenue: CN¥23.0b (up 3.3% from 3Q 2022). Net income: CN¥2.10b (down 11% from 3Q 2022). Profit margin: 9.1% (down from 11% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Construction industry in China. Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 32% per year. Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: CN¥0.34 (vs CN¥0.32 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.34 (up from CN¥0.32 in 2Q 2022). Revenue: CN¥35.6b (up 37% from 2Q 2022). Net income: CN¥2.92b (up 40% from 2Q 2022). Profit margin: 8.2% (up from 8.0% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Construction industry in China. Over the last 3 years on average, earnings per share has increased by 38% per year whereas the company’s share price has increased by 41% per year. Price Target Changed • Aug 01
Price target decreased by 13% to CN¥12.66 Down from CN¥14.53, the current price target is an average from 2 analysts. New target price is 30% above last closing price of CN¥9.72. Stock is up 37% over the past year. The company is forecast to post earnings per share of CN¥1.58 for next year compared to CN¥1.29 last year. Reported Earnings • Apr 30
First quarter 2023 earnings released: EPS: CN¥0.44 (vs CN¥0.33 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.44 (up from CN¥0.33 in 1Q 2022). Revenue: CN¥30.9b (up 69% from 1Q 2022). Net income: CN¥2.73b (up 74% from 1Q 2022). Profit margin: 8.8% (up from 8.6% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Construction industry in China. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has increased by 61% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Mar 24
Price target increased by 7.9% to CN¥15.88 Up from CN¥14.72, the current price target is an average from 2 analysts. New target price is 23% above last closing price of CN¥12.96. Stock is up 28% over the past year. The company is forecast to post earnings per share of CN¥1.80 for next year compared to CN¥1.17 last year. Board Change • Nov 16
Less than half of directors are independent There are 10 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 10 new directors. 1 experienced director. 1 highly experienced director. 4 independent directors (7 non-independent directors). Chairman Guo Bin Xiong is the most experienced director on the board, commencing their role in 2012. Independent Director Qi Lin Cao was the last independent director to join the board, commencing their role in 2021. 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. Reported Earnings • Oct 30
Third quarter 2022 earnings released: EPS: CN¥0.49 (vs CN¥0.20 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.49 (up from CN¥0.20 in 3Q 2021). Revenue: CN¥22.3b (up 14% from 3Q 2021). Net income: CN¥2.36b (up 147% from 3Q 2021). Profit margin: 11% (up from 4.9% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Construction industry in China. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥12.07, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Construction industry in China. Total returns to shareholders of 306% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥5.84 per share. Announcement • Oct 18
Sichuan Road & Bridge's Controlling Shareholder Plans to Increase Stake in the Company Sichuan Road & Bridge Co.,Ltd (SHSE:600039) said controlling shareholder plans to increase stake in the company for CNY 200 million to CNY 400 million ($27.82 million to $55.64 million) within six months. Reported Earnings • Apr 30
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: CN¥0.33 (up from CN¥0.25 in 1Q 2021). Revenue: CN¥18.3b (up 38% from 1Q 2021). Net income: CN¥1.57b (up 31% from 1Q 2021). Profit margin: 8.6% (down from 9.0% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Over the next year, revenue is forecast to grow 22%, compared to a 17% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 43% per year whereas the company’s share price has increased by 40% per year. Price Target Changed • Apr 27
Price target increased to CN¥14.63 Up from CN¥13.13, the current price target is an average from 2 analysts. New target price is 46% above last closing price of CN¥10.05. Stock is up 51% over the past year. The company is forecast to post earnings per share of CN¥1.46 for next year compared to CN¥1.17 last year. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥8.72, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Construction industry in China. Total returns to shareholders of 144% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥4.05 per share. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥9.90, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Construction industry in China. Total returns to shareholders of 163% over the past three years. Reported Earnings • Mar 04
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: CN¥1.13 (up from CN¥0.78 in FY 2020). Revenue: CN¥84.5b (up 38% from FY 2020). Net income: CN¥5.41b (up 79% from FY 2020). Profit margin: 6.4% (up from 5.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 10.0%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Over the next year, revenue is forecast to grow 12%, compared to a 15% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improved over the past week After last week's 26% share price gain to CN¥13.00, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Construction industry in China. Total returns to shareholders of 314% over the past three years. Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥11.14, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 10x in the Construction industry in China. Total returns to shareholders of 248% over the past three years. Price Target Changed • Oct 21
Price target increased to CN¥8.80 Up from CN¥4.85, the current price target is an average from 2 analysts. New target price is 5.2% below last closing price of CN¥9.28. Stock is up 110% over the past year. The company is forecast to post earnings per share of CN¥0.92 for next year compared to CN¥0.78 last year. Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥7.84, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Construction industry in China. Total returns to shareholders of 147% over the past three years. Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS CN¥0.28 (vs CN¥0.19 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥19.2b (up 33% from 2Q 2020). Net income: CN¥1.32b (up 87% from 2Q 2020). Profit margin: 6.9% (up from 4.9% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment improved over the past week After last week's 23% share price gain to CN¥7.74, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Construction industry in China. Total returns to shareholders of 110% over the past three years. Reported Earnings • Apr 20
Full year 2020 earnings released: EPS CN¥0.78 (vs CN¥0.47 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥61.1b (up 16% from FY 2019). Net income: CN¥3.03b (up 78% from FY 2019). Profit margin: 5.0% (up from 3.2% 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 30% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥6.94, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 17x in the Construction industry in China. Total returns to shareholders of 99% over the past three years. Is New 90 Day High Low • Feb 22
New 90-day high: CN¥5.32 The company is up 1.0% from its price of CN¥5.29 on 24 November 2020. The Chinese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Construction industry, which is down 8.0% over the same period. Is New 90 Day High Low • Nov 24
New 90-day high: CN¥5.29 The company is up 29% from its price of CN¥4.11 on 26 August 2020. The Chinese market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is down 4.0% over the same period. Valuation Update With 7 Day Price Move • Nov 07
Market bids up stock over the past week After last week's 16% share price gain to CN¥5.18, the stock is trading at a trailing P/E ratio of 7.4x, up from the previous P/E ratio of 6.4x. This compares to an average P/E of 21x in the Construction industry in China. Total returns to shareholders over the past three years are 28%. Valuation Update With 7 Day Price Move • Nov 05
Market bids up stock over the past week After last week's 19% share price gain to CN¥5.06, the stock is trading at a trailing P/E ratio of 7.2x, up from the previous P/E ratio of 6.1x. This compares to an average P/E of 20x in the Construction industry in China. Total returns to shareholders over the past three years are 25%. Price Target Changed • Nov 04
Price target raised to CN¥5.92 Up from CN¥4.85, the current price target is an average from 2 analysts. The new target price is 28% above the current share price of CN¥4.63. Is New 90 Day High Low • Nov 03
New 90-day high: CN¥4.63 The company is up 8.0% from its price of CN¥4.29 on 05 August 2020. The Chinese market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is down 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥0.43 per share. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥2.58b, up 76% from the prior year. Total revenue was CN¥58.7b over the last 12 months, up 26% from the prior year. Announcement • Sep 29
Sichuan Road & Bridge Co., Ltd. announced that it expects to receive CNY 4.513086471 billion in funding from Sichuan Railway Investment Group Co., Ltd. Sichuan Road & Bridge Co., Ltd. (SHSE:600039) announced a private placement of 1,111,597,653 A shares at a price of CNY 4.06 per share for gross proceeds of CNY 4,513,086,471 on April 4, 2020. The transaction will include participation from returning investor Sichuan Railway Investment Group Co., Ltd. The investor will subscribe in cash to all issued shares. The transaction has been approved at the 16th meeting of the 7th directorate and the 14th session of 7th supervisory board of the company. The transaction is subject to approval from China Securities Regulatory Commission, the shareholders’ meeting of the company, and the state-owned assets supervision. The shares will have a lock up period of 18 months since issuance date. The transaction will be valid for 12 months since approval from the shareholders’ meeting of the company.
On April 18, 2020, the company announced that it has obtained the written reply to issue the shares from the investor. Announcement • Jul 30
Sichuan Railway Investment Group Co., Ltd. completed the acquisition of an additional 9.32% stake in Sichuan Road & Bridge Co.,Ltd (SHSE : 600039) for CNY 1.4 billion. Sichuan Railway Investment Group Co., Ltd. offered to acquire an additional 9.74% stake in Sichuan Road & Bridge Co.,Ltd (SHSE : 600039) for CNY 1.5 billion on February 5, 2020. Sichuan Railway Investment will acquire up to 361 million shares at CNY 3.51 per share. As of March 16, 2020, Sichuan Railway Investment changed the offer price from CNY 3.61 to CNY 4.06 per share. The transaction will be financed from own funds. It is necessary to perform the procedures for the supervision and approval of state-owned assets for the transaction. The tender offer was approved by the Board of Directors of both Sichuan Railway Investment Group Co., Ltd. and Sichuan Railway Investment Group Co., Ltd. The tender offer period is 30 natural days, from March 5, 2020 to April 3, 2020. On February 19, 2020, Sichuan Railway Investment Group Co., Ltd. deposited CNY 253.4 million as earnest money and on March 27, 2020, Sichuan Railway Investment Group Co., Ltd. deposited CNY 39.71 million as additional earnest money. TF Securities Co., Ltd. acted as financial advisor to Sichuan Road & Bridge Co.,Ltd.
Sichuan Railway Investment Group Co., Ltd. completed the acquisition of an additional 9.32% stake in Sichuan Road & Bridge Co.,Ltd (SHSE : 600039) for CNY 1.4 billion on April 3, 2020. Under the offer, 345.3 million shares were validly tendered. Announcement • Jul 10
Sichuan Road & Bridge Co.,Ltd to Report First Half, 2020 Results on Aug 27, 2020 Sichuan Road & Bridge Co.,Ltd announced that they will report first half, 2020 results on Aug 27, 2020