Announcement • Jun 30
Mudanjiang Hengfeng Paper Co.,Ltd to Report First Half, 2026 Results on Aug 26, 2026 Mudanjiang Hengfeng Paper Co.,Ltd announced that they will report first half, 2026 results on Aug 26, 2026 Declared Dividend • Jun 21
Dividend increased to CN¥0.19 Dividend of CN¥0.19 is 58% higher than last year. Ex-date: 26th June 2026 Payment date: 26th June 2026 Dividend yield will be 2.4%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (26% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 9.0% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 27% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • May 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Apr 15
Full year 2025 earnings: EPS in line with expectations, revenues disappoint Full year 2025 results: EPS: CN¥0.66 (up from CN¥0.39 in FY 2024). Revenue: CN¥2.82b (up 1.8% from FY 2024). Net income: CN¥197.7m (up 71% from FY 2024). Profit margin: 7.0% (up from 4.2% in FY 2024). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 9.7% growth forecast for the Forestry industry in China. 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 6% per year. Announcement • Apr 14
Mudanjiang Hengfeng Paper Co.,Ltd, Annual General Meeting, May 07, 2026 Mudanjiang Hengfeng Paper Co.,Ltd, Annual General Meeting, May 07, 2026, at 13:30 China Standard Time. Location: The Company's Meeting Room, Mudanjiang, Heilongjiang China Announcement • Mar 30
Mudanjiang Hengfeng Paper Co.,Ltd to Report Q1, 2026 Results on Apr 30, 2026 Mudanjiang Hengfeng Paper Co.,Ltd announced that they will report Q1, 2026 results on Apr 30, 2026 Announcement • Dec 26
Mudanjiang Hengfeng Paper Co.,Ltd to Report Fiscal Year 2025 Results on Apr 29, 2026 Mudanjiang Hengfeng Paper Co.,Ltd announced that they will report fiscal year 2025 results on Apr 29, 2026 Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: CN¥0.18 (vs CN¥0.18 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.18. Revenue: CN¥685.6m (down 4.6% from 3Q 2024). Net income: CN¥53.3m (down 1.0% from 3Q 2024). Profit margin: 7.8% (up from 7.5% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Forestry industry in China. Announcement • Sep 30
Mudanjiang Hengfeng Paper Co.,Ltd to Report Q3, 2025 Results on Oct 31, 2025 Mudanjiang Hengfeng Paper Co.,Ltd announced that they will report Q3, 2025 results on Oct 31, 2025 Buy Or Sell Opportunity • Sep 05
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 25% to CN¥10.22. The fair value is estimated to be CN¥8.42, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 32% in 2 years. Earnings are forecast to grow by 29% in the next 2 years. Announcement • Jun 30
Mudanjiang Hengfeng Paper Co.,Ltd to Report First Half, 2025 Results on Aug 28, 2025 Mudanjiang Hengfeng Paper Co.,Ltd announced that they will report first half, 2025 results on Aug 28, 2025 Reported Earnings • May 03
First quarter 2025 earnings released: EPS: CN¥0.09 (vs CN¥0.07 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.09 (up from CN¥0.07 in 1Q 2024). Revenue: CN¥674.2m (up 27% from 1Q 2024). Net income: CN¥28.0m (up 27% from 1Q 2024). Profit margin: 4.2% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Apr 29
Mudanjiang Hengfeng Paper Co.,Ltd, Annual General Meeting, May 19, 2025 Mudanjiang Hengfeng Paper Co.,Ltd, Annual General Meeting, May 19, 2025, at 13:30 China Standard Time. Announcement • Mar 28
Mudanjiang Hengfeng Paper Co.,Ltd to Report Q1, 2025 Results on Apr 26, 2025 Mudanjiang Hengfeng Paper Co.,Ltd announced that they will report Q1, 2025 results on Apr 26, 2025 Announcement • Dec 27
Mudanjiang Hengfeng Paper Co.,Ltd to Report Fiscal Year 2024 Results on Mar 15, 2025 Mudanjiang Hengfeng Paper Co.,Ltd announced that they will report fiscal year 2024 results on Mar 15, 2025 Board Change • Nov 29
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. 1 highly experienced director. Independent Director Yansheng Sun 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 • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.18 (vs CN¥0.14 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.18 (up from CN¥0.14 in 3Q 2023). Revenue: CN¥718.3m (up 8.5% from 3Q 2023). Net income: CN¥53.9m (up 61% from 3Q 2023). Profit margin: 7.5% (up from 5.1% 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 3% 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
Mudanjiang Hengfeng Paper Co.,Ltd to Report Q3, 2024 Results on Oct 30, 2024 Mudanjiang Hengfeng Paper Co.,Ltd announced that they will report Q3, 2024 results on Oct 30, 2024 New Risk • Aug 26
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Buy Or Sell Opportunity • Aug 23
Now 20% overvalued Over the last 90 days, the stock has fallen 8.7% to CN¥5.98. The fair value is estimated to be CN¥4.98, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has declined by 5.5%. Reported Earnings • Aug 21
Second quarter 2024 earnings released: EPS: CN¥0.12 (vs CN¥0.10 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.12 (up from CN¥0.10 in 2Q 2023). Revenue: CN¥668.2m (up 25% from 2Q 2023). Net income: CN¥34.0m (up 15% from 2Q 2023). Profit margin: 5.1% (down from 5.6% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 5% per year. Announcement • Jun 28
Mudanjiang Hengfeng Paper Co.,Ltd to Report First Half, 2024 Results on Aug 21, 2024 Mudanjiang Hengfeng Paper Co.,Ltd announced that they will report first half, 2024 results on Aug 21, 2024 Board Change • Jun 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. 1 highly experienced director. Independent Director Yansheng Sun 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. Declared Dividend • May 16
Dividend increased to CN¥0.14 Dividend of CN¥0.14 is 5.4% higher than last year. Ex-date: 22nd May 2024 Payment date: 22nd May 2024 Dividend yield will be 2.0%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has increased by an average of 4.5% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: CN¥0.07 (vs CN¥0.08 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.07 (down from CN¥0.08 in 1Q 2023). Revenue: CN¥531.7m (down 16% from 1Q 2023). Net income: CN¥22.1m (down 12% from 1Q 2023). Profit margin: 4.2% (up from 4.0% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥6.35, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 26x in the Forestry industry in China. Total loss to shareholders of 16% over the past three years. Announcement • Mar 29
Mudanjiang Hengfeng Paper Co.,Ltd to Report Q1, 2024 Results on Apr 30, 2024 Mudanjiang Hengfeng Paper Co.,Ltd announced that they will report Q1, 2024 results on Apr 30, 2024 Announcement • Mar 15
Mudanjiang Hengfeng Paper Co.,Ltd, Annual General Meeting, Apr 08, 2024 Mudanjiang Hengfeng Paper Co.,Ltd, Annual General Meeting, Apr 08, 2024, at 13:30 China Standard Time. Location: The Company's Meeting Room, Mudanjiang, Heilongjiang China Reported Earnings • Mar 15
Full year 2023 earnings released: EPS: CN¥0.46 (vs CN¥0.82 in FY 2022) Full year 2023 results: EPS: CN¥0.46 (down from CN¥0.82 in FY 2022). Revenue: CN¥2.65b (up 138% from FY 2022). Net income: CN¥136.2m (down 44% from FY 2022). Profit margin: 5.1% (down from 22% in FY 2022). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥6.19, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 31x in the Forestry industry in China. Total loss to shareholders of 29% over the past three years. Announcement • Dec 30
Mudanjiang Hengfeng Paper Co.,Ltd to Report Fiscal Year 2023 Results on Mar 15, 2024 Mudanjiang Hengfeng Paper Co.,Ltd announced that they will report fiscal year 2023 results on Mar 15, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.14 (vs CN¥0.16 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.14 (down from CN¥0.16 in 3Q 2022). Revenue: CN¥662.2m (up 14% from 3Q 2022). Net income: CN¥33.5m (down 28% from 3Q 2022). Profit margin: 5.1% (down from 8.0% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 24
Second quarter 2023 earnings released: EPS: CN¥0.10 (vs CN¥0.092 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.10 (up from CN¥0.092 in 2Q 2022). Revenue: CN¥533.1m (down 5.2% from 2Q 2022). Net income: CN¥29.7m (up 16% from 2Q 2022). Profit margin: 5.6% (up from 4.5% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Jun 28
Mudanjiang Hengfeng Paper Co.,Ltd to Report First Half, 2023 Results on Aug 24, 2023 Mudanjiang Hengfeng Paper Co.,Ltd announced that they will report first half, 2023 results on Aug 24, 2023 Reported Earnings • Mar 15
Full year 2022 earnings released: EPS: CN¥0.43 (vs CN¥0.34 in FY 2021) Full year 2022 results: EPS: CN¥0.43 (up from CN¥0.34 in FY 2021). Revenue: CN¥2.46b (up 22% from FY 2021). Net income: CN¥128.9m (up 27% from FY 2021). Profit margin: 5.2% (up from 5.0% in FY 2021). 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 9% per year, which means it is well ahead of earnings. Board Change • Nov 16
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 Xiaohui Zhang was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 26
Third quarter 2022 earnings released: EPS: CN¥0.16 (vs CN¥0.08 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.16 (up from CN¥0.08 in 3Q 2021). Revenue: CN¥578.5m (up 19% from 3Q 2021). Net income: CN¥46.5m (up 94% from 3Q 2021). Profit margin: 8.0% (up from 4.9% in 3Q 2021). 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 whereas the company’s share price has fallen by 5% per year. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: CN¥0.092 (vs CN¥0.15 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.092 (down from CN¥0.15 in 2Q 2021). Revenue: CN¥562.3m (up 11% from 2Q 2021). Net income: CN¥25.5m (down 43% from 2Q 2021). Profit margin: 4.5% (down from 8.9% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 2% per year. Board Change • Apr 27
Less than half of directors are independent 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. 2 highly experienced directors. 4 independent directors (6 non-independent directors). Supervisor Shigang Wang was the last director to join the board, commencing their role in 2009. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥8.69, the stock trades at a trailing P/E ratio of 19.3x. Average trailing P/E is 22x in the Forestry industry in China. Total returns to shareholders of 53% over the past three years. Reported Earnings • Aug 22
Second quarter 2021 earnings released: EPS CN¥0.15 (vs CN¥0.15 in 2Q 2020) The company reported a mediocre second quarter result with weaker revenues, although earnings were flat and profit margins improved. Second quarter 2021 results: Revenue: CN¥507.2m (down 6.2% from 2Q 2020). Net income: CN¥45.0m (flat on 2Q 2020). Profit margin: 8.9% (up from 8.3% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 18
First quarter 2021 earnings released: EPS CN¥0.13 (vs CN¥0.05 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥499.8m (up 31% from 1Q 2020). Net income: CN¥38.0m (up 138% from 1Q 2020). Profit margin: 7.6% (up from 4.2% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Mar 09
New 90-day low: CN¥7.80 The company is down 6.0% from its price of CN¥8.29 on 09 December 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Forestry industry, which is up 11% over the same period. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥8.19, the stock is trading at a trailing P/E ratio of 21.6x, down from the previous P/E ratio of 25.5x. This compares to an average P/E of 24x in the Forestry industry in China. Total returns to shareholders over the past three years are 15%. Is New 90 Day High Low • Feb 04
New 90-day high: CN¥9.69 The company is up 19% from its price of CN¥8.17 on 06 November 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Forestry industry, which is up 21% over the same period. Is New 90 Day High Low • Jan 19
New 90-day high: CN¥9.39 The company is up 6.0% from its price of CN¥8.90 on 21 October 2020. The Chinese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Forestry industry, which is up 18% over the same period. Reported Earnings • Oct 28
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥113.2m, up 23% from the prior year. Total revenue was CN¥1.86b over the last 12 months, up 7.6% from the prior year. Announcement • Jul 17
Mudanjiang Hengfeng Paper Co.,Ltd to Report First Half, 2020 Results on Aug 28, 2020 Mudanjiang Hengfeng Paper Co.,Ltd announced that they will report first half, 2020 results on Aug 28, 2020