Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥12.62, the stock trades at a trailing P/E ratio of 78.3x. Average trailing P/E is 22x in the Healthcare Services industry in Asia. Total loss to shareholders of 28% over the past three years. New Risk • May 25
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 8.2% 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. New Risk • Apr 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 34% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Apr 15
First quarter 2026 earnings released: CN¥0.035 loss per share (vs CN¥0.015 loss in 1Q 2025) First quarter 2026 results: CN¥0.035 loss per share (further deteriorated from CN¥0.015 loss in 1Q 2025). Revenue: CN¥76.0m (down 3.0% from 1Q 2025). Net loss: CN¥9.19m (loss widened 139% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Apr 15
Heren Health Co.,Ltd., Annual General Meeting, May 06, 2026 Heren Health Co.,Ltd., Annual General Meeting, May 06, 2026, at 15:00 China Standard Time. Location: 3F, No. 625, Xinlian Road, Xixing Subdistrict, Binjiang District, Hangzhou, Zhejiang China Announcement • Mar 31
Heren Health Co.,Ltd. to Report Q1, 2026 Results on Apr 15, 2026 Heren Health Co.,Ltd. announced that they will report Q1, 2026 results on Apr 15, 2026 Announcement • Dec 31
Heren Health Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 15, 2026 Heren Health Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 15, 2026 Reported Earnings • Oct 25
Third quarter 2025 earnings released: EPS: CN¥0.20 (vs CN¥0.068 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.20 (up from CN¥0.068 in 3Q 2024). Revenue: CN¥104.6m (flat on 3Q 2024). Net income: CN¥16.5m (up 7.9% from 3Q 2024). Profit margin: 16% (up from 15% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Heren Health Co.,Ltd. to Report Q3, 2025 Results on Oct 25, 2025 Heren Health Co.,Ltd. announced that they will report Q3, 2025 results on Oct 25, 2025 Reported Earnings • Aug 21
Second quarter 2025 earnings released: EPS: CN¥0.001 (vs CN¥0.044 loss in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.001 (up from CN¥0.044 loss in 2Q 2024). Revenue: CN¥80.5m (up 16% from 2Q 2024). Net income: CN¥324.1k (up CN¥14.1m from 2Q 2024). Profit margin: 0.4% (up from net loss in 2Q 2024). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Jul 02
Heren Health Co.,Ltd. to Report First Half, 2025 Results on Aug 21, 2025 Heren Health Co.,Ltd. announced that they will report first half, 2025 results on Aug 21, 2025 Announcement • May 16
Heren Health Co.,Ltd. Announces Cash Dividend for 2024 Heren Health Co.,Ltd. at its Annual General Meeting held on 14 May 2025 approved cash dividend of CNY 0.25000000 per 10 shares (tax included) for 2024. Announcement • Apr 25
Heren Health Co.,Ltd. Proposes Final Cash Dividend for 2024 Heren Health Co.,Ltd. announced on 24 April 2025 the profit distribution proposal for 2024 as follows: Cash dividend/10 shares (tax included): CNY 0.25000000. Reported Earnings • Apr 24
First quarter 2025 earnings released: CN¥0.015 loss per share (vs CN¥0.002 loss in 1Q 2024) First quarter 2025 results: CN¥0.015 loss per share (further deteriorated from CN¥0.002 loss in 1Q 2024). Revenue: CN¥78.4m (down 14% from 1Q 2024). Net loss: CN¥3.84m (loss widened CN¥3.33m from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Apr 24
Heren Health Co.,Ltd., Annual General Meeting, May 14, 2025 Heren Health Co.,Ltd., Annual General Meeting, May 14, 2025, at 15:00 China Standard Time. Location: 3F, No. 625, Xinlian Road, Xixing Subdistrict, Binjiang District, Hangzhou, Zhejiang China Announcement • Mar 31
Heren Health Co.,Ltd. to Report Q1, 2025 Results on Apr 24, 2025 Heren Health Co.,Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025 New Risk • Feb 28
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 8.5% 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 Earnings have declined by 30% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (8.5% average weekly change). Board Change • Jan 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chairman & GM Chenhui Zhao was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 31
Heren Health Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 24, 2025 Heren Health Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 24, 2025 Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: CN¥0.068 (vs CN¥0.047 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.068. Revenue: CN¥103.9m (flat on 3Q 2023). Net income: CN¥15.3m (down 1.0% from 3Q 2023). Profit margin: 15% (in line with 3Q 2023). Announcement • Sep 30
Heren Health Co.,Ltd. to Report Q3, 2024 Results on Oct 25, 2024 Heren Health Co.,Ltd. announced that they will report Q3, 2024 results on Oct 25, 2024 Reported Earnings • Aug 23
Second quarter 2024 earnings released: CN¥0.044 loss per share (vs CN¥0.017 loss in 2Q 2023) Second quarter 2024 results: CN¥0.044 loss per share (further deteriorated from CN¥0.017 loss in 2Q 2023). Revenue: CN¥69.3m (down 12% from 2Q 2023). Net loss: CN¥13.8m (loss widened 324% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. New Risk • Jul 22
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 8.8% 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 Earnings have declined by 38% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (8.8% average weekly change). Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥10.96, the stock trades at a trailing P/E ratio of 76.4x. Average trailing P/E is 60x in the Healthcare Services industry in China. Total loss to shareholders of 7.9% over the past three years. Announcement • Jun 29
Heren Health Co., Ltd. to Report First Half, 2024 Results on Aug 23, 2024 Heren Health Co., Ltd. announced that they will report first half, 2024 results on Aug 23, 2024 Announcement • Jun 20
Heren Health Co., Ltd. Announces Final Dividend on A Shares for the Year 2023, Payable on 25 June 2024 Heren Health Co., Ltd. announced final cash dividend/10 shares (tax included) of CNY0.30000000 on A shares for the year 2023. Record date is 24 June 2024. Ex-date is 25 June 2024. Payment date is 25 June 2024. Announcement • Apr 27
Heren Health Co., Ltd Proposes Final Dividend for 2023 Heren Health Co., Ltd. announced on 25 April 2024 the profit distribution proposal for 2023 as follows: Cash dividend/10 shares (tax included) of CNY 0.30000000. Announcement • Apr 26
Heren Health Co., Ltd., Annual General Meeting, May 15, 2024 Heren Health Co., Ltd., Annual General Meeting, May 15, 2024, at 15:00 China Standard Time. Location: 3F, No. 625, Xinlian Road, Xixing Subdistrict, Binjiang District, Hangzhou, Zhejiang China Reported Earnings • Apr 25
First quarter 2024 earnings released: CN¥0.002 loss per share (vs CN¥0.004 profit in 1Q 2023) First quarter 2024 results: CN¥0.002 loss per share (down from CN¥0.004 profit in 1Q 2023). Revenue: CN¥91.1m (down 8.5% from 1Q 2023). Net loss: CN¥516.0k (down 154% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Mar 30
Heren Health Co., Ltd. to Report Q1, 2024 Results on Apr 25, 2024 Heren Health Co., Ltd. announced that they will report Q1, 2024 results on Apr 25, 2024 New Risk • Feb 05
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 8.2% 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 Earnings have declined by 49% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (8.2% average weekly change). Announcement • Dec 29
Heren Health Co., Ltd. to Report Fiscal Year 2023 Results on Apr 25, 2024 Heren Health Co., Ltd. announced that they will report fiscal year 2023 results on Apr 25, 2024 Reported Earnings • Oct 24
Third quarter 2023 earnings released: EPS: CN¥0.047 (vs CN¥0.02 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.047 (up from CN¥0.02 in 3Q 2022). Revenue: CN¥103.7m (up 9.5% from 3Q 2022). Net income: CN¥15.4m (up 178% from 3Q 2022). Profit margin: 15% (up from 5.8% in 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Announcement • Sep 30
Heren Health Co., Ltd. to Report Q3, 2023 Results on Oct 24, 2023 Heren Health Co., Ltd. announced that they will report Q3, 2023 results on Oct 24, 2023 Reported Earnings • Aug 19
Second quarter 2023 earnings released: CN¥0.017 loss per share (vs CN¥0.051 profit in 2Q 2022) Second quarter 2023 results: CN¥0.017 loss per share (down from CN¥0.051 profit in 2Q 2022). Revenue: CN¥79.1m (down 29% from 2Q 2022). Net loss: CN¥3.26m (down 124% from profit in 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Announcement • May 19
Heren Health Co., Ltd. Announces Management Changes Heren Health Co., Ltd. approved Election and nomination of non-independent directors, cumulative voting system applicable: Zhao Chenhui, Wang Yi, Huang Yuhua, Xia Hong. Election and nomination of non-employee supervisors, cumulative voting system applicable: Chen Junbing and Lu Ting, at its Annual General Meeting of 2022 on 17 May 2023. Board Change • May 15
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. 4 experienced directors. 7 highly experienced directors. Independent Director Yuru Cai was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Feb 15
Topchoice Medical Corporation (SHSE:600763) cancelled the acquisition of Heren Health Co., Ltd. (SZSE:300550) from Hangzhou Panyuan Investment Co., Ltd. from Hangzhou Panyuan Investment Co., Ltd. Topchoice Medical Corporation (SHSE:600763) agreed to acquire Heren Health Co., Ltd. (SZSE:300550) from Hangzhou Panyuan Investment Co., Ltd. from Hangzhou Panyuan Investment Co., Ltd. for approximately 770 million on May 15, 2022. After the completion of this transaction, Topchoice Medical Corporation will become the largest shareholder of Heren Health Co., Ltd. On May 15, 2022, the ninth meeting of the ninth board of directors of Topchoice reviewed and approved the Proposal on the Acquisition of the Controlling Rights of Heren Health Co., Ltd., and the seven directors of the company unanimously approved the above proposal. As on December 31, 2022, Transaction has been approved by Anti-Monopoly. As on January 17, 2023, delivery completion period has been extended for three months.
Topchoice Medical Corporation (SHSE:600763) cancelled the acquisition of Heren Health Co., Ltd. (SZSE:300550) from Hangzhou Panyuan Investment Co., Ltd. from Hangzhou Panyuan Investment Co., Ltd. on February 15, 2023. Board Change • Jan 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. 4 experienced directors. 7 highly experienced directors. Independent Director Yuru Cai was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.02 (vs CN¥0.06 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.02 (down from CN¥0.06 in 3Q 2021). Revenue: CN¥94.7m (down 17% from 3Q 2021). Net income: CN¥5.54m (down 66% from 3Q 2021). Profit margin: 5.8% (down from 14% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% 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. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: CN¥0.051 (vs CN¥0.048 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.051. Revenue: CN¥111.7m (flat on 2Q 2021). Net income: CN¥13.6m (flat on 2Q 2021). Profit margin: 12% (in line with 2Q 2021). Board Change • Aug 14
High number of new directors There are 5 new directors who have joined the board in the last 3 years. MD & Non-Independent Director Zeyu Dai was the last director to join the board, commencing their role in 2019. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 02
Heren Health Co., Ltd. Announces 2021 Final Profit Distribution Plan to Be Implemented (A Shares), Payable on July 07, 2022 Heren Health Co., Ltd. implemented cash dividend (tax included) of CNY 0.20000000 per 10 shares (A shares) for the year 2021. Payable on July 07, 2022 with record date of July 06, 2022 and Ex-dividend date of July 07, 2022. Announcement • May 20
Heren Health Co., Ltd. Approves Cash Dividend for the Year 2021 Heren Health Co., Ltd. approved cash dividend (tax included) of CNY 0.2000000 per 10 shares for the year 2021, at the AGM held on May 18, 2022. Reported Earnings • Apr 28
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CN¥0.02. Revenue: CN¥96.5m (up 22% from 1Q 2021). Net income: CN¥5.61m (up 4.0% from 1Q 2021). Profit margin: 5.8% (down from 6.8% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 26%. Earnings per share (EPS) also missed analyst estimates by 39%. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. MD & Non-Independent Director Zeyu Dai was the last director to join the board, commencing their role in 2019. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.06 (vs CN¥0.079 in 3Q 2020) The company reported a poor third quarter result with weaker earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: CN¥114.2m (down 8.7% from 3Q 2020). Net income: CN¥16.1m (down 11% from 3Q 2020). Profit margin: 14% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 30
Second quarter 2021 earnings released: EPS CN¥0.048 (vs CN¥0.018 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥112.5m (up 2.4% from 2Q 2020). Net income: CN¥13.8m (up 126% from 2Q 2020). Profit margin: 12% (up from 5.6% in 2Q 2020). 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. Announcement • May 20
Heren Health Co., Ltd. Approves Dividend for 2020 Heren Health Co., Ltd., at its AGM held on May 17, 2021, approved dividend of CNY 0.35000000 per 10 shares (tax included) for the year 2020. Announcement • Apr 29
Heren Health Co., Ltd. Proposes Final Cash Dividend for the Year 2020 Heren Health Co., Ltd. proposed final cash dividend/10 shares (tax included) of CNY 0.35000000 for the year 2020. Reported Earnings • Apr 28
First quarter 2021 earnings released: EPS CN¥0.029 (vs CN¥0.007 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥79.3m (up 44% from 1Q 2020). Net income: CN¥5.40m (up CN¥4.77m from 1Q 2020). Profit margin: 6.8% (up from 1.1% in 1Q 2020). 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 8% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Jan 12
New 90-day low: CN¥17.36 The company is down 25% from its price of CN¥23.28 on 14 October 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Healthcare Services industry, which is down 26% over the same period. Is New 90 Day High Low • Dec 28
New 90-day low: CN¥17.80 The company is down 19% from its price of CN¥21.99 on 29 September 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Healthcare Services industry, which is down 18% over the same period. Is New 90 Day High Low • Dec 12
New 90-day low: CN¥20.01 The company is down 14% from its price of CN¥23.24 on 11 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Healthcare Services industry, which is also down 14% over the same period. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥31.3m, down 37% from the prior year. Total revenue was CN¥437.6m over the last 12 months, down 3.6% from the prior year. Announcement • Aug 13
Heren Health Co., Ltd. to Report First Half, 2020 Results on Aug 28, 2020 Heren Health Co., Ltd. announced that they will report first half, 2020 results on Aug 28, 2020