Declared Dividend • Jun 01
Dividend reduced to CN¥0.21 Dividend of CN¥0.21 is 30% lower than last year. Ex-date: 5th June 2026 Payment date: 5th June 2026 Dividend yield will be 3.6%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by both earnings (67% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has increased by an average of 25% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 48% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 30
Sinosteel Engineering & Technology Co., Ltd. Announces Final Cash Dividend on A Shares for the Year 2025, Payable on 05 June 2026 Sinosteel Engineering & Technology Co., Ltd. announced final cash dividend of CNY 2.10 per 10 shares (tax included) on A shares for the year 2025. Record date: 04 June 2026, Ex-date: 05 June 2026 and Payment date: 05 June 2026. New Risk • May 20
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: 3.4% Last year net profit margin: 5.2% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (3.4% net profit margin). New Risk • Apr 29
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: 3.4% Last year net profit margin: 5.2% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (3.4% net profit margin). Reported Earnings • Apr 28
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.34 (down from CN¥0.58 in FY 2024). Revenue: CN¥13.9b (down 21% from FY 2024). Net income: CN¥485.2m (down 42% from FY 2024). Profit margin: 3.5% (down from 4.7% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 6.1%. Earnings per share (EPS) also missed analyst estimates by 40%. Revenue is forecast to grow 7.3% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Construction industry in China. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 10% per year, which means it is performing significantly worse than earnings. Announcement • Apr 28
Sinosteel Engineering & Technology Co., Ltd., Annual General Meeting, May 18, 2026 Sinosteel Engineering & Technology Co., Ltd., Annual General Meeting, May 18, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Beijing China Announcement • Mar 31
Sinosteel Engineering & Technology Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Sinosteel Engineering & Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 Announcement • Dec 31
Sinosteel Engineering & Technology Co., Ltd. to Report Fiscal Year 2025 Results on Apr 28, 2026 Sinosteel Engineering & Technology Co., Ltd. announced that they will report fiscal year 2025 results on Apr 28, 2026 Board Change • Dec 12
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 3 experienced directors. No highly experienced directors. Supervisor Lichao Yan is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Major Estimate Revision • Nov 20
Consensus revenue estimates fall by 15% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥17.3b to CN¥14.8b. EPS estimate fell from CN¥0.608 to CN¥0.56 per share. Net income forecast to grow 19% next year vs 24% growth forecast for Construction industry in China. Consensus price target down from CN¥8.90 to CN¥8.51. Share price fell 3.1% to CN¥6.35 over the past week. Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.092 (vs CN¥0.15 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.092 (down from CN¥0.15 in 3Q 2024). Revenue: CN¥2.43b (down 31% from 3Q 2024). Net income: CN¥131.3m (down 41% from 3Q 2024). Profit margin: 5.4% (down from 6.2% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Construction industry in China. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 5% per year. Announcement • Sep 30
Sinosteel Engineering & Technology Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Sinosteel Engineering & Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 New Risk • Aug 28
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 34% 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 Risk High level of non-cash earnings (34% accrual ratio). Minor Risk Dividend is not well covered by cash flows (322% cash payout ratio). Reported Earnings • Aug 28
Second quarter 2025 earnings released: EPS: CN¥0.13 (vs CN¥0.14 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.13 (down from CN¥0.14 in 2Q 2024). Revenue: CN¥3.23b (down 23% from 2Q 2024). Net income: CN¥192.8m (down 5.9% from 2Q 2024). Profit margin: 6.0% (up from 4.9% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 6.9% 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 only increased by 3% per year, which means it is significantly lagging earnings growth. Price Target Changed • Aug 27
Price target increased by 7.4% to CN¥8.90 Up from CN¥8.29, the current price target is an average from 2 analysts. New target price is 36% above last closing price of CN¥6.55. Stock is up 22% over the past year. The company is forecast to post earnings per share of CN¥0.63 for next year compared to CN¥0.58 last year. Announcement • Jul 02
Sinosteel Engineering & Technology Co., Ltd. to Report First Half, 2025 Results on Aug 26, 2025 Sinosteel Engineering & Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 26, 2025 Declared Dividend • Jun 09
Dividend increased to CN¥0.30 Dividend of CN¥0.30 is 12% higher than last year. Ex-date: 13th June 2025 Payment date: 13th June 2025 Dividend yield will be 4.5%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 35% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 17
Sinosteel Engineering & Technology Co., Ltd. Approves Cash Dividend for 2024 Sinosteel Engineering & Technology Co., Ltd. at its Annual General Meeting held on 15 May 2025 approved cash dividend of CNY 2.99000000 per 10 shares (tax included) for 2024. Major Estimate Revision • Apr 30
Consensus revenue estimates fall by 38% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥28.7b to CN¥17.9b. EPS estimate fell from CN¥0.67 to CN¥0.64 per share. Net income forecast to grow 11% next year vs 13% growth forecast for Construction industry in China. Consensus price target broadly unchanged at CN¥8.29. Share price was steady at CN¥6.45 over the past week. Announcement • Apr 25
Sinosteel Engineering & Technology Co., Ltd. Proposes Final Cash Dividend for 2024 Sinosteel Engineering & Technology Co., Ltd. proposed final cash dividend of CNY 2.99000000 per 10 shares (tax included) for 2024. Reported Earnings • Apr 24
First quarter 2025 earnings released: EPS: CN¥0.16 (vs CN¥0.15 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.16 (up from CN¥0.15 in 1Q 2024). Revenue: CN¥3.52b (down 28% from 1Q 2024). Net income: CN¥231.6m (up 7.8% from 1Q 2024). Profit margin: 6.6% (up from 4.4% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 29% p.a. on average during the next 2 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 increased by 10% per year whereas the company’s share price has increased by 5% per year. Announcement • Apr 24
Sinosteel Engineering & Technology Co., Ltd., Annual General Meeting, May 15, 2025 Sinosteel Engineering & Technology Co., Ltd., Annual General Meeting, May 15, 2025, at 14:30 China Standard Time. Location: No. 8, Haidian Avenue, Haidian District, Beijing China Board Change • Apr 12
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. 1 experienced director. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Director Tianyi Wang is the most experienced director on the board, commencing their role in 2020. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Mar 31
Sinosteel Engineering & Technology Co., Ltd. to Report Q1, 2025 Results on Apr 24, 2025 Sinosteel Engineering & Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025 Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥7.29, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Construction industry in China. Total returns to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥6.26 per share. Announcement • Dec 31
Sinosteel Engineering & Technology Co., Ltd. to Report Fiscal Year 2024 Results on Apr 24, 2025 Sinosteel Engineering & Technology Co., Ltd. announced that they will report fiscal year 2024 results on Apr 24, 2025 Price Target Changed • Dec 19
Price target decreased by 13% to CN¥8.82 Down from CN¥10.11, the current price target is provided by 1 analyst. New target price is 33% above last closing price of CN¥6.65. Stock is up 14% over the past year. The company is forecast to post earnings per share of CN¥0.61 for next year compared to CN¥0.58 last year. New Risk • Oct 31
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 190% 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 Risk High level of non-cash earnings (190% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.15 (vs CN¥0.12 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.15 (up from CN¥0.12 in 3Q 2023). Revenue: CN¥3.53b (down 45% from 3Q 2023). Net income: CN¥220.6m (up 49% from 3Q 2023). Profit margin: 6.2% (up from 2.3% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 15% 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 5% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Sinosteel Engineering & Technology Co., Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Sinosteel Engineering & Technology 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 24% After last week's 24% share price gain to CN¥6.50, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Construction industry in China. Total loss to shareholders of 14% over the past three years. Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: CN¥0.14 (vs CN¥0.10 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.14 (up from CN¥0.10 in 2Q 2023). Revenue: CN¥4.17b (down 25% from 2Q 2023). Net income: CN¥204.9m (up 52% from 2Q 2023). Profit margin: 4.9% (up from 2.4% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Construction industry in China. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 17
Second quarter 2024 earnings released: EPS: CN¥0.14 (vs CN¥0.10 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.14 (up from CN¥0.10 in 2Q 2023). Revenue: CN¥4.17b (down 25% from 2Q 2023). Net income: CN¥202.4m (up 50% from 2Q 2023). Profit margin: 4.9% (up from 2.4% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 10.0% growth forecast for the Construction industry in China. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Announcement • Jun 29
Sinosteel Engineering & Technology Co., Ltd. to Report First Half, 2024 Results on Aug 29, 2024 Sinosteel Engineering & Technology Co., Ltd. announced that they will report first half, 2024 results on Aug 29, 2024 Declared Dividend • Jun 01
Dividend of CN¥0.27 announced Shareholders will receive a dividend of CN¥0.27. Ex-date: 6th June 2024 Payment date: 6th June 2024 Dividend yield will be 4.2%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by earnings (47% 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 38% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 41% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 31
Sinosteel Engineering & Technology Co., Ltd. Announces 2023 Final Profit Distribution Plan to Be Implemented (A Shares), Payable on 06 June 2024 Sinosteel Engineering & Technology Co., Ltd. announced 2023 final profit distribution plan to be implemented (A shares): Cash dividend/10 shares (tax included): CNY 2.66000000. Record date: 05 June 2024. Ex-date: 06 June 2024. Payment date: 06 June 2024. Price Target Changed • May 16
Price target increased by 16% to CN¥9.59 Up from CN¥8.31, the current price target is an average from 3 analysts. New target price is 40% above last closing price of CN¥6.84. Stock is down 27% over the past year. The company is forecast to post earnings per share of CN¥0.63 for next year compared to CN¥0.58 last year. Announcement • May 02
Sinosteel Engineering & Technology Co., Ltd. Proposes the Profit Distribution for 2023 Sinosteel Engineering & Technology Co., Ltd. announced on 30 April 2024 the profit distribution proposal for 2023 as Cash dividend/10 shares (tax included): CNY 2.66000000. Announcement • May 01
Sinosteel Engineering & Technology Co., Ltd., Annual General Meeting, May 20, 2024 Sinosteel Engineering & Technology Co., Ltd., Annual General Meeting, May 20, 2024, at 14:30 China Standard Time. Location: No. 8, Haidian Avenue, Haidian District, Beijing China Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: CN¥0.15 (vs CN¥0.16 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.15. Revenue: CN¥4.90b (down 4.1% from 1Q 2023). Net income: CN¥214.9m (up 3.3% from 1Q 2023). Profit margin: 4.4% (up from 4.1% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.9% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Construction industry in China. Reported Earnings • Apr 17
First quarter 2024 earnings released: EPS: CN¥0.15 (vs CN¥0.16 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.15. Revenue: CN¥4.90b (down 4.0% from 1Q 2023). Net income: CN¥215.4m (up 3.5% from 1Q 2023). Profit margin: 4.4% (up from 4.1% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.9% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Construction industry in China. Buy Or Sell Opportunity • Apr 15
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 16% to CN¥6.64. The fair value is estimated to be CN¥5.39, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 26% in the next 2 years. Announcement • Mar 30
Sinosteel Engineering & Technology Co., Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Sinosteel Engineering & Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Buy Or Sell Opportunity • Mar 29
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 5.1% to CN¥6.13. The fair value is estimated to be CN¥5.08, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 27% in the next 2 years. Buy Or Sell Opportunity • Feb 21
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 4.2% to CN¥6.50. The fair value is estimated to be CN¥5.20, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 27% in the next 2 years. Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥6.58, 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 52% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥4.80 per share. Buy Or Sell Opportunity • Jan 25
Now 30% overvalued The stock has been flat over the last 90 days, currently trading at CN¥6.25. The fair value is estimated to be CN¥4.80, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 27% in the next 2 years. Reported Earnings • Jan 17
Full year 2023 earnings released: EPS: CN¥0.60 (vs CN¥0.49 in FY 2022) Full year 2023 results: EPS: CN¥0.60 (up from CN¥0.49 in FY 2022). Revenue: CN¥26.4b (up 41% from FY 2022). Net income: CN¥785.7m (up 25% from FY 2022). Profit margin: 3.0% (down from 3.4% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Construction industry in China. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Dec 30
Sinosteel Engineering & Technology Co., Ltd. to Report Fiscal Year 2023 Results on Apr 30, 2024 Sinosteel Engineering & Technology Co., Ltd. announced that they will report fiscal year 2023 results on Apr 30, 2024 New Risk • Dec 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 12% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (12% increase in shares outstanding). Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.12 (vs CN¥0.12 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.12 (down from CN¥0.12 in 3Q 2022). Revenue: CN¥6.47b (up 30% from 3Q 2022). Net income: CN¥148.4m (down 1.5% from 3Q 2022). Profit margin: 2.3% (down from 3.0% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% 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 1% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Oct 31
Price target decreased by 9.0% to CN¥12.20 Down from CN¥13.41, the current price target is an average from 3 analysts. New target price is 98% above last closing price of CN¥6.17. Stock is up 11% over the past year. The company is forecast to post earnings per share of CN¥0.90 for next year compared to CN¥0.49 last year. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥6.74, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 12x in the Construction industry in China. Total returns to shareholders of 79% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥4.46 per share. Announcement • Sep 30
Sinosteel Engineering & Technology Co., Ltd. to Report Q3, 2023 Results on Oct 31, 2023 Sinosteel Engineering & Technology Co., Ltd. announced that they will report Q3, 2023 results on Oct 31, 2023 Reported Earnings • Aug 24
Second quarter 2023 earnings released: EPS: CN¥0.10 (vs CN¥0.11 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.10 (down from CN¥0.11 in 2Q 2022). Revenue: CN¥5.58b (up 22% from 2Q 2022). Net income: CN¥134.7m (down 1.1% from 2Q 2022). Profit margin: 2.4% (down from 3.0% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% 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 4% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 24
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥8.33, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 13x in the Construction industry in China. Total returns to shareholders of 110% over the past three years. Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥10.62, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 13x in the Construction industry in China. Total returns to shareholders of 170% over the past three years. Announcement • Jun 01
Sinosteel Engineering & Technology Co., Ltd. Announces Final Profit Distribution on (A Shares) 2022, Payable on 06 June 2023 Sinosteel Engineering & Technology Co., Ltd. 2022 final profit distribution plan to be implemented on (A shares) of Cash dividend/10 shares (tax included) of CNY 2.45061300. Record date is 05 June 2023. Ex-date is 06 June 2023.Payment date is 06 June 2023. Announcement • May 23
Sinosteel Engineering & Technology Co., Ltd. Approves Cash Dividend for 2022 Sinosteel Engineering & Technology Co., Ltd. approved final cash dividend of CNY 2.47000000 per 10 shares (tax included) for 2022, at its Annual General Meeting of 2022 on 19 May 2023. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to CN¥11.07, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 13x in the Construction industry in China. Total returns to shareholders of 186% over the past three years. Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: CN¥0.16 (vs CN¥0.10 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.16 (up from CN¥0.10 in 1Q 2022). Revenue: CN¥5.11b (up 68% from 1Q 2022). Net income: CN¥208.1m (up 62% from 1Q 2022). Profit margin: 4.1% (down from 4.2% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Construction industry in China. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥8.75, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 13x in the Construction industry in China. Total returns to shareholders of 136% over the past three years. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥8.20, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 10x in the Construction industry in China. Total returns to shareholders of 86% over the past three years. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥7.33, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 10x in the Construction industry in China. Total returns to shareholders of 80% over the past three years. Announcement • Oct 14
Sinosteel Engineering & Technology Co., Ltd. Announces Interim Dividend on Share A for 2022, Payable on October 19, 2022 Sinosteel Engineering & Technology Co., Ltd. announced interim Cash dividend/10 shares (tax included): CNY 1.01999600 on share A for 2022. Record date: 18 October 2022, Ex-date: 19 October 2022 and Payment date: 19 October 2022. Announcement • Sep 17
Sinosteel Engineering & Technology Co., Ltd. Approves Interim Dividend for the Year 2022 Sinosteel Engineering & Technology Co., Ltd. approved at it EGM held on 15 September 2022 interim Cash dividend/10 shares (tax included) of CNY 1.02000000 for the year. Announcement • Aug 31
Sinosteel Engineering & Technology Co., Ltd. Proposes Profit Distribution for the First Half of 2022 Sinosteel Engineering & Technology Co., Ltd. announced on 30 August 2022 the profit distribution of CNY1.02000000/10 shares (tax included) proposal for the first half of 2022. Reported Earnings • Aug 31
Second quarter 2022 earnings released: EPS: CN¥0.11 (vs CN¥0.19 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.11 (down from CN¥0.19 in 2Q 2021). Revenue: CN¥4.59b (up 23% from 2Q 2021). Net income: CN¥136.2m (down 44% from 2Q 2021). Profit margin: 3.0% (down from 6.6% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 6.4%, compared to a 21% growth forecast for the Construction industry in China. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥6.73, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 10x in the Construction industry in China. Total returns to shareholders of 38% over the past three years. Announcement • May 14
Sinosteel Engineering & Technology Co., Ltd. Announces Cash Dividend of A Shares for the Year 2021, Payable on May 20, 2022 Sinosteel Engineering & Technology Co., Ltd. announced cash dividend/10 shares (tax included) of CNY 1.51968300 of A shares for the year 2021. Record date is May 19, 2022. Ex-date is May 20, 2022. Payment date is May 20, 2022. Announcement • Mar 31
Sinosteel Engineering & Technology Co., Ltd., Annual General Meeting, Apr 15, 2022 Sinosteel Engineering & Technology Co., Ltd., Annual General Meeting, Apr 15, 2022, at 14:00 China Standard Time. Agenda: To consider 2021 annual report; to consider 2021 work report of the board of directors; to consider 2021 work report of the supervisory committee; to consider 2021 work report of independent directors; to consider 2021 internal control evaluation report; to consider 2021 annual accounts; to consider appointment of 2022 audit firm; and to consider the other matters. Announcement • Mar 29
Sinosteel Engineering & Technology Co., Ltd. Proposes Final Cash Dividend for 2021 Sinosteel Engineering & Technology Co., Ltd. proposed final cash dividend (tax included) of CNY 1.52000000 per ten shares for 2021. Reported Earnings • Mar 28
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: CN¥0.51 (up from CN¥0.48 in FY 2020). Revenue: CN¥15.9b (up 7.0% from FY 2020). Net income: CN¥648.9m (up 7.8% from FY 2020). Profit margin: 4.1% (in line with FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.1%. Over the next year, revenue is forecast to grow 19%, compared to a 15% growth forecast for the 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 remained flat, which means it is significantly lagging earnings. Reported Earnings • Oct 27
Third quarter 2021 earnings released: EPS CN¥0.12 (vs CN¥0.062 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥3.80b (up 23% from 3Q 2020). Net income: CN¥149.4m (up 93% from 3Q 2020). Profit margin: 3.9% (up from 2.5% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 22% per year and the company’s share price has also increased by 22% per year. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment deteriorated over the past week After last week's 22% share price decline to CN¥8.03, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 10x in the Construction industry in China. Total returns to shareholders of 76% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥6.46 per share. Upcoming Dividend • Sep 17
Upcoming dividend of CN¥0.10 per share Eligible shareholders must have bought the stock before 24 September 2021. Payment date: 24 September 2021. Trailing yield: 2.0%. Within top quartile of Chinese dividend payers (1.8%). Lower than average of industry peers (2.4%). Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS CN¥0.19 (vs CN¥0.17 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: CN¥3.73b (down 6.4% from 2Q 2020). Net income: CN¥244.1m (up 16% from 2Q 2020). Profit margin: 6.6% (up from 5.3% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥9.00, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 7x in the Construction industry in China. Total returns to shareholders of 92% over the past three years. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥10.86, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 8x in the Construction industry in China. Total returns to shareholders of 121% over the past three years. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥9.50, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 8x in the Construction industry in China. Total returns to shareholders of 98% over the past three years. Announcement • Apr 28
Sinosteel Engineering & Technology Co., Ltd. Announces Cash Dividend of A Shares for the Year 2020, Payment Date Is 30 April 2021 Sinosteel Engineering & Technology Co., Ltd. announced cash dividend/10 shares (tax included) of CNY 1.4400000 of A shares for the year 2020. Record date is 29 April 2021. Ex-date is 30 April 2021. Payment date 30 April 2021. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improved over the past week After last week's 27% share price gain to CN¥8.55, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 9x in the Construction industry in China. Total returns to shareholders of 73% over the past three years. Reported Earnings • Mar 26
Full year 2020 earnings released: EPS CN¥0.48 (vs CN¥0.43 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥14.8b (up 11% from FY 2019). Net income: CN¥602.0m (up 13% from FY 2019). Profit margin: 4.1% (up from 4.0% 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 9% per year whereas the company’s share price has increased by 5% per year. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improved over the past week After last week's 25% share price gain to CN¥7.40, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 10x in the Construction industry in China. Total returns to shareholders of 49% over the past three years. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥4.98, the stock is trading at a trailing P/E ratio of 10.5x, up from the previous P/E ratio of 9.1x. This compares to an average P/E of 18x in the Construction industry in China. Total return to shareholders over the past three years is a loss of 13%. Is New 90 Day High Low • Feb 22
New 90-day high: CN¥4.98 The company is up 15% from its price of CN¥4.33 on 24 November 2020. The Chinese market is up 8.0% 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¥1.63 per share.