Announcement • Jun 02
Zhejiang Golden Eagle Co.,Ltd., Annual General Meeting, Jun 22, 2026 Zhejiang Golden Eagle Co.,Ltd., Annual General Meeting, Jun 22, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Zhoushan, Zhejiang China Reported Earnings • Apr 02
Full year 2025 earnings released: EPS: CN¥0.06 (vs CN¥0.061 in FY 2024) Full year 2025 results: EPS: CN¥0.06 (down from CN¥0.061 in FY 2024). Revenue: CN¥1.40b (up 7.1% from FY 2024). Net income: CN¥20.8m (down 6.8% from FY 2024). Profit margin: 1.5% (down from 1.7% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • Mar 30
Zhejiang Golden Eagle Co.,Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Zhejiang Golden Eagle Co.,Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Announcement • Dec 26
Zhejiang Golden Eagle Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 02, 2026 Zhejiang Golden Eagle Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 02, 2026 Reported Earnings • Oct 29
Third quarter 2025 earnings released: EPS: CN¥0.047 (vs CN¥0.045 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.047 (up from CN¥0.045 in 3Q 2024). Revenue: CN¥380.8m (down 10.0% from 3Q 2024). Net income: CN¥17.2m (up 5.4% from 3Q 2024). Profit margin: 4.5% (up from 3.9% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Sep 30
Zhejiang Golden Eagle Co.,Ltd. to Report Q3, 2025 Results on Oct 29, 2025 Zhejiang Golden Eagle Co.,Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 New Risk • Sep 03
New major risk - Revenue and earnings growth Earnings have declined by 10% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.9% average weekly change). Earnings have declined by 10% per year over the past 5 years. Minor Risk Paying a dividend despite being loss-making. Announcement • Jun 30
Zhejiang Golden Eagle Co.,Ltd. to Report First Half, 2025 Results on Aug 28, 2025 Zhejiang Golden Eagle Co.,Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 New Risk • Jun 16
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 8.6% 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. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Dividend per share is over 7x earnings per share. Cash payout ratio: 252% Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.7% net profit margin). Reported Earnings • May 03
First quarter 2025 earnings released: CN¥0.011 loss per share (vs CN¥0.024 profit in 1Q 2024) First quarter 2025 results: CN¥0.011 loss per share (down from CN¥0.024 profit in 1Q 2024). Revenue: CN¥251.3m (up 7.2% from 1Q 2024). Net loss: CN¥4.17m (down 148% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to CN¥4.85, the stock trades at a trailing P/E ratio of 79.1x. Average trailing P/E is 23x in the Luxury industry in China. Total loss to shareholders of 4.2% over the past three years. Reported Earnings • Apr 02
Full year 2024 earnings released: EPS: CN¥0.06 (vs CN¥0.097 in FY 2023) Full year 2024 results: EPS: CN¥0.06 (down from CN¥0.097 in FY 2023). Revenue: CN¥1.31b (down 4.5% from FY 2023). Net income: CN¥22.4m (down 37% from FY 2023). Profit margin: 1.7% (down from 2.6% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Apr 02
Zhejiang Golden Eagle Co.,Ltd., Annual General Meeting, May 20, 2025 Zhejiang Golden Eagle Co.,Ltd., Annual General Meeting, May 20, 2025, at 14:30 China Standard Time. Location: The Company's Meeting Room, Zhoushan, Zhejiang China Announcement • Mar 28
Zhejiang Golden Eagle Co.,Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Zhejiang Golden Eagle Co.,Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Announcement • Dec 27
Zhejiang Golden Eagle Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 02, 2025 Zhejiang Golden Eagle Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 02, 2025 Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.045 (vs CN¥0.03 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.045 (up from CN¥0.03 in 3Q 2023). Revenue: CN¥423.1m (up 5.8% from 3Q 2023). Net income: CN¥16.3m (up 48% from 3Q 2023). Profit margin: 3.9% (up from 2.8% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Sep 30
Zhejiang Golden Eagle Co.,Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Zhejiang Golden Eagle Co.,Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥5.28, the stock trades at a trailing P/E ratio of 35.5x. Average trailing P/E is 21x in the Luxury industry in China. Total returns to shareholders of 19% over the past three years. Reported Earnings • Aug 27
Second quarter 2024 earnings released: EPS: CN¥0.076 (vs CN¥0.026 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.076 (up from CN¥0.026 in 2Q 2023). Revenue: CN¥431.9m (up 39% from 2Q 2023). Net income: CN¥28.2m (up 195% from 2Q 2023). Profit margin: 6.5% (up from 3.1% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 7% per year, which means it is performing significantly worse than earnings. Announcement • Jun 28
Zhejiang Golden Eagle Co.,Ltd. to Report First Half, 2024 Results on Aug 27, 2024 Zhejiang Golden Eagle Co.,Ltd. announced that they will report first half, 2024 results on Aug 27, 2024 Declared Dividend • May 09
Dividend of CN¥0.15 announced Shareholders will receive a dividend of CN¥0.15. Ex-date: 13th May 2024 Payment date: 13th May 2024 Dividend yield will be 3.0%, which is lower than the industry average of 3.3%. Sustainability & Growth Dividend is not covered by earnings (153% earnings payout ratio) and 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 6.5% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 70% to bring the payout ratio under control, which is more than the 4.7% EPS growth achieved over the last 5 years. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥4.12, the stock trades at a trailing P/E ratio of 42.5x. Average trailing P/E is 23x in the Luxury industry in China. Total loss to shareholders of 11% over the past three years. New Risk • Apr 15
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 10% 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. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 155% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Profit margins are more than 30% lower than last year (2.6% net profit margin). Announcement • Apr 02
Zhejiang Golden Eagle Co.,Ltd., Annual General Meeting, Apr 24, 2024 Zhejiang Golden Eagle Co.,Ltd., Annual General Meeting, Apr 24, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Zhoushan, Zhejiang China Reported Earnings • Apr 02
Full year 2023 earnings released: EPS: CN¥0.10 (vs CN¥0.14 in FY 2022) Full year 2023 results: EPS: CN¥0.10 (down from CN¥0.14 in FY 2022). Revenue: CN¥1.37b (up 5.2% from FY 2022). Net income: CN¥35.3m (down 29% from FY 2022). Profit margin: 2.6% (down from 3.8% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 2% per year. Announcement • Mar 29
Zhejiang Golden Eagle Co.,Ltd. to Report Q1, 2024 Results on Apr 25, 2024 Zhejiang Golden Eagle Co.,Ltd. announced that they will report Q1, 2024 results on Apr 25, 2024 Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥5.03, the stock trades at a trailing P/E ratio of 57.5x. Average trailing P/E is 24x in the Luxury industry in China. Total returns to shareholders of 9.7% over the past three years. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥4.68, the stock trades at a trailing P/E ratio of 53.5x. Average trailing P/E is 24x in the Luxury industry in China. Total returns to shareholders of 16% over the past three years. Announcement • Dec 30
Zhejiang Golden Eagle Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 02, 2024 Zhejiang Golden Eagle Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 02, 2024 New Risk • Oct 27
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 27% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 229% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.4% net profit margin). Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.03 (vs CN¥0.037 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.03 (down from CN¥0.037 in 3Q 2022). Revenue: CN¥399.8m (up 17% from 3Q 2022). Net income: CN¥11.0m (down 18% from 3Q 2022). Profit margin: 2.8% (down from 3.9% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Sep 30
Zhejiang Golden Eagle Co.,Ltd. to Report Q3, 2023 Results on Oct 27, 2023 Zhejiang Golden Eagle Co.,Ltd. announced that they will report Q3, 2023 results on Oct 27, 2023 New Risk • Aug 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: 2.7% Last year net profit margin: 5.4% 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: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 212% Paying a dividend despite having no free cash flows. Minor Risks Profit margins are more than 30% lower than last year (2.7% net profit margin). Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Announcement • Jun 28
Zhejiang Golden Eagle Co.,Ltd. to Report First Half, 2023 Results on Aug 29, 2023 Zhejiang Golden Eagle Co.,Ltd. announced that they will report first half, 2023 results on Aug 29, 2023 Reported Earnings • Apr 08
Full year 2022 earnings released: EPS: CN¥0.14 (vs CN¥0.14 in FY 2021) Full year 2022 results: EPS: CN¥0.14 (up from CN¥0.14 in FY 2021). Revenue: CN¥1.30b (up 7.8% from FY 2021). Net income: CN¥49.5m (flat on FY 2021). Profit margin: 3.8% (down from 4.1% in FY 2021). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Buying Opportunity • Mar 29
Now 20% undervalued Over the last 90 days, the stock is up 6.7%. The fair value is estimated to be CN¥7.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has grown by 37%. Buying Opportunity • Mar 14
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.7%. The fair value is estimated to be CN¥7.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has grown by 37%. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 8 experienced directors. 2 highly experienced directors. 1 independent director (6 non-independent directors). Independent Director Licheng Yang was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 29
Third quarter 2022 earnings released: EPS: CN¥0.037 (vs CN¥0.068 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.037 (down from CN¥0.068 in 3Q 2021). Revenue: CN¥342.2m (up 3.1% from 3Q 2021). Net income: CN¥13.4m (down 41% from 3Q 2021). Profit margin: 3.9% (down from 6.8% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 31
Second quarter 2022 earnings released: EPS: CN¥0.057 (vs CN¥0.028 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.057 (up from CN¥0.028 in 2Q 2021). Revenue: CN¥328.1m (up 11% from 2Q 2021). Net income: CN¥20.3m (up 89% from 2Q 2021). Profit margin: 6.2% (up from 3.6% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 02
Upcoming dividend of CN¥0.20 per share Eligible shareholders must have bought the stock before 09 May 2022. Payment date: 09 May 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.8%. Within top quartile of Chinese dividend payers (2.3%). In line with average of industry peers (4.1%). Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 1 highly experienced director. No independent directors (6 non-independent directors). Vice Chairman Weiyi Chen was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.068 (vs CN¥0.056 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: CN¥331.9m (up 31% from 3Q 2020). Net income: CN¥22.7m (up 12% from 3Q 2020). Profit margin: 6.8% (down from 8.0% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 2% per year. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS CN¥0.028 (vs CN¥0.068 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¥294.6m (up 32% from 2Q 2020). Net income: CN¥10.7m (down 56% from 2Q 2020). Profit margin: 3.6% (down from 11% in 2Q 2020). Reported Earnings • May 04
First quarter 2021 earnings released: EPS CN¥0.007 (vs CN¥0.007 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥223.3m (up 16% from 1Q 2020). Net income: CN¥2.51m (up CN¥5.14m from 1Q 2020). Profit margin: 1.1% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 01
Full year 2020 earnings released: EPS CN¥0.09 (vs CN¥0.07 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CN¥1.01b (down 18% from FY 2019). Net income: CN¥31.8m (up 24% from FY 2019). Profit margin: 3.1% (up from 2.1% in FY 2019). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 02
New 90-day low: CN¥4.96 The company is down 11% from its price of CN¥5.56 on 04 November 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Luxury industry, which is down 13% over the same period. Is New 90 Day High Low • Jan 13
New 90-day low: CN¥5.12 The company is down 13% from its price of CN¥5.90 on 15 October 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Luxury industry, which is down 14% over the same period. Is New 90 Day High Low • Dec 29
New 90-day low: CN¥5.46 The company is down 2.0% from its price of CN¥5.59 on 30 September 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Luxury industry, which is down 4.0% over the same period. Announcement • Oct 27
Zhejiang Golden Eagle Co.,Ltd. to Report Q3, 2020 Results on Oct 30, 2020 Zhejiang Golden Eagle Co.,Ltd. announced that they will report Q3, 2020 results on Oct 30, 2020 Announcement • Sep 10
Zhejiang Provincial Agricultural Development Group Co Ltd cancelled the acquisition of 27% stake in Zhejiang Golden Eagle Co.,Ltd. (SHSE:600232) from Zhejiang Golden Eagle Group Co., Ltd. Zhejiang Provincial Agricultural Development Group Co Ltd agreed to acquire 27% stake in Zhejiang Golden Eagle Co.,Ltd. (SHSE:600232) from Zhejiang Golden Eagle Group Co., Ltd. on January 21, 2020. As part of the transaction, which Zhejiang Golden Eagle Group Co., Ltd. will transfer 98.47 million shares in Zhejiang Golden Eagle Co.,Ltd. to Zhejiang Provincial Agricultural Development Group Co Ltd. The transaction is subject to due diligence investigation and approval of state-owned assets.
Zhejiang Provincial Agricultural Development Group Co Ltd cancelled the acquisition of 27% stake in Zhejiang Golden Eagle Co.,Ltd. (SHSE:600232) from Zhejiang Golden Eagle Group Co., Ltd. on September 9, 2020. Announcement • Jul 10
Zhejiang Golden Eagle Co.,Ltd. to Report First Half, 2020 Results on Aug 28, 2020 Zhejiang Golden Eagle Co.,Ltd. announced that they will report first half, 2020 results on Aug 28, 2020 
