Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥50.41, the stock trades at a forward P/E ratio of 47x. Average forward P/E is 14x in the Construction industry in China. Total returns to shareholders of 38% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥26.09 per share. 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. 6 non-independent directors. Independent Director Ying Liu was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 30
China Southern Power Grid Technology Co.,Ltd to Report Q1, 2026 Results on Apr 30, 2026 China Southern Power Grid Technology Co.,Ltd announced that they will report Q1, 2026 results on Apr 30, 2026 Announcement • Dec 26
China Southern Power Grid Technology Co.,Ltd to Report Fiscal Year 2025 Results on Mar 31, 2026 China Southern Power Grid Technology Co.,Ltd announced that they will report fiscal year 2025 results on Mar 31, 2026 Announcement • Sep 30
China Southern Power Grid Technology Co.,Ltd to Report Q3, 2025 Results on Oct 31, 2025 China Southern Power Grid Technology Co.,Ltd announced that they will report Q3, 2025 results on Oct 31, 2025 Announcement • Jun 30
China Southern Power Grid Technology Co.,Ltd to Report First Half, 2025 Results on Aug 30, 2025 China Southern Power Grid Technology Co.,Ltd announced that they will report first half, 2025 results on Aug 30, 2025 Announcement • Jun 05
China Southern Power Grid Technology Co.,Ltd, Annual General Meeting, Jun 27, 2025 China Southern Power Grid Technology Co.,Ltd, Annual General Meeting, Jun 27, 2025, at 14:30 China Standard Time. Location: Yuedian Building, Shuijungang, Dongfeng East Road, Yuexiu District, Guangzhou, Guangdong China Announcement • Mar 28
China Southern Power Grid Technology Co.,Ltd to Report Q1, 2025 Results on Apr 26, 2025 China Southern Power Grid Technology Co.,Ltd announced that they will report Q1, 2025 results on Apr 26, 2025 Announcement • Dec 27
China Southern Power Grid Technology Co.,Ltd to Report Fiscal Year 2024 Results on Mar 29, 2025 China Southern Power Grid Technology Co.,Ltd announced that they will report fiscal year 2024 results on Mar 29, 2025 Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.17 (vs CN¥0.072 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.17 (up from CN¥0.072 in 3Q 2023). Revenue: CN¥554.1m (up 47% from 3Q 2023). Net income: CN¥95.2m (up 116% from 3Q 2023). Profit margin: 17% (up from 12% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 38% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Construction industry in China. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥33.30, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 12x in the Construction industry in China. Total returns to shareholders of 24% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥41.59 per share. Buy Or Sell Opportunity • Oct 11
Now 20% undervalued Over the last 90 days, the stock has risen 12% to CN¥32.75. The fair value is estimated to be CN¥41.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last year. Earnings per share has grown by 43%. Revenue is forecast to grow by 130% in 2 years. Earnings are forecast to grow by 101% in the next 2 years. Upcoming Dividend • Oct 04
Upcoming dividend of CN¥0.14 per share Eligible shareholders must have bought the stock before 11 October 2024. Payment date: 11 October 2024. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Chinese dividend payers (2.2%). Lower than average of industry peers (2.8%). Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to CN¥34.20, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 11x in the Construction industry in China. Total returns to shareholders of 21% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥41.20 per share. Announcement • Sep 30
China Southern Power Grid Technology Co.,Ltd to Report Q3, 2024 Results on Oct 30, 2024 China Southern Power Grid Technology Co.,Ltd announced that they will report Q3, 2024 results on Oct 30, 2024 New Risk • Sep 20
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.0% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: CN¥0.28 (vs CN¥0.17 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.28 (up from CN¥0.17 in 2Q 2023). Revenue: CN¥1.05b (up 32% from 2Q 2023). Net income: CN¥142.5m (up 67% from 2Q 2023). Profit margin: 14% (up from 11% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 38% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Construction industry in China. Buy Or Sell Opportunity • Aug 01
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.8% to CN¥27.04. The fair value is estimated to be CN¥33.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last year. Earnings per share has grown by 38%. Revenue is forecast to grow by 144% in 2 years. Earnings are forecast to grow by 129% in the next 2 years. Announcement • Jun 28
China Southern Power Grid Technology Co.,Ltd to Report First Half, 2024 Results on Aug 30, 2024 China Southern Power Grid Technology Co.,Ltd announced that they will report first half, 2024 results on Aug 30, 2024 Announcement • May 17
China Southern Power Grid Technology Co.,Ltd, Annual General Meeting, Jun 05, 2024 China Southern Power Grid Technology Co.,Ltd, Annual General Meeting, Jun 05, 2024, at 14:30 China Standard Time. Location: Yudian Building, Shuijungang, Dongfeng East Road, Yuexiu District, Guangzhou, Guangdong China Reported Earnings • May 01
First quarter 2024 earnings released: EPS: CN¥0.07 (vs CN¥0.05 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.07 (up from CN¥0.05 in 1Q 2023). Revenue: CN¥505.3m (up 9.8% from 1Q 2023). Net income: CN¥42.0m (up 38% from 1Q 2023). Profit margin: 8.3% (up from 6.6% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Construction industry in China. Board Change • Apr 01
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. 6 experienced directors. No highly experienced directors. Supervisor Yan Deng was the last 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: Insufficient board refreshment. Reported Earnings • Mar 31
Full year 2023 earnings released: EPS: CN¥0.50 (vs CN¥0.36 in FY 2022) Full year 2023 results: EPS: CN¥0.50 (up from CN¥0.36 in FY 2022). Revenue: CN¥2.54b (up 42% from FY 2022). Net income: CN¥281.3m (up 37% from FY 2022). Profit margin: 11% (in line with FY 2022). Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Construction industry in China. Announcement • Mar 29
China Southern Power Grid Technology Co.,Ltd to Report Q1, 2024 Results on Apr 30, 2024 China Southern Power Grid Technology Co.,Ltd announced that they will report Q1, 2024 results on Apr 30, 2024 Valuation Update With 7 Day Price Move • Feb 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥26.30, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 10x in the Construction industry in China. Simply Wall St's valuation model estimates the intrinsic value at CN¥11.97 per share. Reported Earnings • Feb 23
Full year 2023 earnings released: EPS: CN¥0.50 (vs CN¥0.36 in FY 2022) Full year 2023 results: EPS: CN¥0.50 (up from CN¥0.36 in FY 2022). Revenue: CN¥2.54b (up 42% from FY 2022). Net income: CN¥281.3m (up 37% from FY 2022). Profit margin: 11% (in line with FY 2022). Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Construction industry in China. New Risk • Feb 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥19.19, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 10x in the Construction industry in China. Simply Wall St's valuation model estimates the intrinsic value at CN¥11.83 per share. Board Change • Jan 18
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Manli Huang was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: CN¥0.072 (vs CN¥0.10 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.072 (down from CN¥0.10 in 3Q 2022). Revenue: CN¥377.7m (down 6.7% from 3Q 2022). Net income: CN¥44.1m (down 20% from 3Q 2022). Profit margin: 12% (down from 14% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 38% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Construction industry in China. New Risk • Aug 29
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 29% 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. This is currently the only risk that has been identified for the company. Announcement • Jun 28
China Southern Power Grid Technology Co.,Ltd to Report First Half, 2023 Results on Aug 29, 2023 China Southern Power Grid Technology Co.,Ltd announced that they will report first half, 2023 results on Aug 29, 2023 Buying Opportunity • Apr 22
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be CN¥54.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last year. Earnings per share has grown by 8.6%. Revenue is forecast to grow by 168% in a year. Earnings is forecast to grow by 147% in the next year. Board Change • Mar 15
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. Employee Supervisor Feng Tian 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. 
