New Risk • Apr 28
New minor risk - Dividend sustainability The company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 2.2% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Share price has been volatile over the past 3 months (8.1% average weekly change). Reported Earnings • Apr 22
First quarter 2026 earnings released: EPS: CN¥0.20 (vs CN¥0.06 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.20 (up from CN¥0.06 in 1Q 2025). Revenue: CN¥6.64b (up 32% from 1Q 2025). Net income: CN¥821.4m (up 257% from 1Q 2025). Profit margin: 12% (up from 4.6% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 22
Henan Zhongfu Industrial Co.,Ltd, Annual General Meeting, May 13, 2026 Henan Zhongfu Industrial Co.,Ltd, Annual General Meeting, May 13, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Gongyi, Henan China Announcement • Mar 30
Henan Zhongfu Industrial Co.,Ltd to Report Q1, 2026 Results on Apr 22, 2026 Henan Zhongfu Industrial Co.,Ltd announced that they will report Q1, 2026 results on Apr 22, 2026 Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥7.22, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 22x in the Metals and Mining industry in China. Total returns to shareholders of 114% over the past three years. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥8.61, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 25x in the Metals and Mining industry in China. Total returns to shareholders of 141% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥15.72 per share. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥10.10, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 24x in the Metals and Mining industry in China. Total returns to shareholders of 213% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥15.54 per share. Announcement • Dec 26
Henan Zhongfu Industrial Co.,Ltd to Report Fiscal Year 2025 Results on Apr 22, 2026 Henan Zhongfu Industrial Co.,Ltd announced that they will report fiscal year 2025 results on Apr 22, 2026 Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥8.01, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 20x in the Metals and Mining industry in China. Total returns to shareholders of 142% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥15.31 per share. New Risk • Oct 29
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 7.5% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Oct 28
Third quarter 2025 earnings released: EPS: CN¥0.12 (vs CN¥0.07 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.12 (up from CN¥0.07 in 3Q 2024). Revenue: CN¥6.06b (up 5.6% from 3Q 2024). Net income: CN¥479.8m (up 69% from 3Q 2024). Profit margin: 7.9% (up from 4.9% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥6.15, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 20x in the Metals and Mining industry in China. Total returns to shareholders of 93% over the past three years. Announcement • Sep 30
Henan Zhongfu Industrial Co.,Ltd to Report Q3, 2025 Results on Oct 28, 2025 Henan Zhongfu Industrial Co.,Ltd announced that they will report Q3, 2025 results on Oct 28, 2025 New Risk • Sep 18
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 7.0% 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. Reported Earnings • Aug 28
Second quarter 2025 earnings released: EPS: CN¥0.12 (vs CN¥0.11 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.12 (up from CN¥0.11 in 2Q 2024). Revenue: CN¥5.55b (down 4.5% from 2Q 2024). Net income: CN¥477.2m (up 19% from 2Q 2024). Profit margin: 8.6% (up from 6.9% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥4.82, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 17x in the Metals and Mining industry in China. Total returns to shareholders of 20% over the past three years. Announcement • Jun 30
Henan Zhongfu Industrial Co.,Ltd to Report First Half, 2025 Results on Aug 28, 2025 Henan Zhongfu Industrial Co.,Ltd announced that they will report first half, 2025 results on Aug 28, 2025 Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥4.28, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 17x in the Metals and Mining industry in China. Total returns to shareholders of 2.6% over the past three years. Reported Earnings • Apr 16
First quarter 2025 earnings released: EPS: CN¥0.06 (vs CN¥0.01 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.06 (up from CN¥0.01 in 1Q 2024). Revenue: CN¥5.02b (down 3.1% from 1Q 2024). Net income: CN¥230.3m (up 427% from 1Q 2024). Profit margin: 4.6% (up from 0.8% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 7% per year. Announcement • Apr 16
Henan Zhongfu Industrial Co.,Ltd, Annual General Meeting, May 07, 2025 Henan Zhongfu Industrial Co.,Ltd, Annual General Meeting, May 07, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Gongyi, Henan China Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥3.28, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 15x in the Metals and Mining industry in China. Total loss to shareholders of 26% over the past three years. Announcement • Mar 28
Henan Zhongfu Industrial Co.,Ltd to Report Q1, 2025 Results on Apr 16, 2025 Henan Zhongfu Industrial Co.,Ltd announced that they will report Q1, 2025 results on Apr 16, 2025 Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥3.57, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 16x in the Metals and Mining industry in China. Total loss to shareholders of 16% over the past three years. Announcement • Dec 27
Henan Zhongfu Industrial Co.,Ltd to Report Fiscal Year 2024 Results on Apr 16, 2025 Henan Zhongfu Industrial Co.,Ltd announced that they will report fiscal year 2024 results on Apr 16, 2025 Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥3.40, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 15x in the Metals and Mining industry in China. Total loss to shareholders of 15% over the past three years. New Risk • Oct 27
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 20% 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 • Oct 26
Third quarter 2024 earnings released: EPS: CN¥0.07 (vs CN¥0.10 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.07 (down from CN¥0.10 in 3Q 2023). Revenue: CN¥5.74b (up 16% from 3Q 2023). Net income: CN¥283.8m (down 25% from 3Q 2023). Profit margin: 4.9% (down from 7.7% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Oct 14
Henan Zhongfu Industrial Co.,Ltd (SHSE:600595) agreed to acquire remaining 24% stake in Henan Zhongfu Aluminum Co., Ltd. from Henan Yulian Energy Group CO., LTD for CNY 1.3 billion. Henan Zhongfu Industrial Co.,Ltd (SHSE:600595) agreed to acquire remaining 24% stake in Henan Zhongfu Aluminum Co., Ltd. from Henan Yulian Energy Group CO., LTD for CNY 1.3 billion on October 11, 2024. Henan Zhongfu Industrial Co.,Ltd will pay an earnout/contingent payment of CNY 1.25 billion cash. As part of consideration, CNY 1.25 billion is paid towards common equity of Henan Zhongfu Aluminum Co., Ltd. Upon completion, Henan Zhongfu Industrial Co.,Ltd will own 100% stake in Henan Zhongfu Aluminum Co., Ltd.
As of June 30, 2024, Henan Zhongfu Aluminum Co., Ltd. reported total assets of CNY 7.44 billion and total common equity of CNY 5.55 billion.
The transaction is subject to approval of offer by acquirer shareholders and approval of offer by acquirer board. The deal has been approved by the board. Announcement • Sep 30
Henan Zhongfu Industrial Co.,Ltd to Report Q3, 2024 Results on Oct 26, 2024 Henan Zhongfu Industrial Co.,Ltd announced that they will report Q3, 2024 results on Oct 26, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥2.77, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 13x in the Metals and Mining industry in China. Total loss to shareholders of 38% over the past three years. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥2.87, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 14x in the Metals and Mining industry in China. Total loss to shareholders of 19% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥1.38 per share. Announcement • Jun 28
Henan Zhongfu Industrial Co.,Ltd to Report First Half, 2024 Results on Aug 16, 2024 Henan Zhongfu Industrial Co.,Ltd announced that they will report first half, 2024 results on Aug 16, 2024 Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥3.32, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 14x in the Metals and Mining industry in China. Total returns to shareholders of 2.5% over the past three years. Reported Earnings • Apr 20
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.29 (up from CN¥0.27 in FY 2022). Revenue: CN¥18.8b (up 7.3% from FY 2022). Net income: CN¥1.16b (up 10% from FY 2022). Profit margin: 6.2% (up from 6.0% in FY 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 4.9%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 9.9% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Apr 19
Henan Zhongfu Industrial Co.,Ltd, Annual General Meeting, May 10, 2024 Henan Zhongfu Industrial Co.,Ltd, Annual General Meeting, May 10, 2024, at 15:00 China Standard Time. Location: The Company's Meeting Room, Gongyi, Henan China Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥3.94, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Metals and Mining industry in China. Total returns to shareholders of 24% over the past three years. Announcement • Mar 29
Henan Zhongfu Industrial Co.,Ltd to Report Q1, 2024 Results on Apr 29, 2024 Henan Zhongfu Industrial Co.,Ltd announced that they will report Q1, 2024 results on Apr 29, 2024 Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥2.62, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Metals and Mining industry in China. Total returns to shareholders of 6.5% over the past three years. Announcement • Dec 30
Henan Zhongfu Industrial Co.,Ltd to Report Fiscal Year 2023 Results on Apr 18, 2024 Henan Zhongfu Industrial Co.,Ltd announced that they will report fiscal year 2023 results on Apr 18, 2024 Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.10 (vs CN¥0.042 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.10 (up from CN¥0.042 in 3Q 2022). Revenue: CN¥4.96b (up 9.2% from 3Q 2022). Net income: CN¥379.7m (up 123% from 3Q 2022). Profit margin: 7.7% (up from 3.7% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Henan Zhongfu Industrial Co.,Ltd to Report Q3, 2023 Results on Oct 26, 2023 Henan Zhongfu Industrial Co.,Ltd announced that they will report Q3, 2023 results on Oct 26, 2023 New Risk • Aug 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: 3.0% Last year net profit margin: 6.9% 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 Share price has been volatile over the past 3 months (7.1% average weekly change). Profit margins are more than 30% lower than last year (3.0% net profit margin). Reported Earnings • Aug 19
Second quarter 2023 earnings released: EPS: CN¥0.05 (vs CN¥0.14 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.05 (down from CN¥0.14 in 2Q 2022). Revenue: CN¥4.64b (down 11% from 2Q 2022). Net income: CN¥214.6m (down 62% from 2Q 2022). Profit margin: 4.6% (down from 11% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. New Risk • Aug 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 6.4% 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 • Aug 04
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥3.44, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 32x in the Metals and Mining industry in China. Total returns to shareholders of 91% over the past three years. Buying Opportunity • Aug 03
Now 24% undervalued Over the last 90 days, the stock is up 1.9%. The fair value is estimated to be CN¥4.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 41% over the last 3 years. Earnings per share has grown by 60%. Announcement • Jun 28
Henan Zhongfu Industrial Co.,Ltd to Report Q2, 2023 Results on Aug 19, 2023 Henan Zhongfu Industrial Co.,Ltd announced that they will report Q2, 2023 results at 3:00 PM, China Standard Time on Aug 19, 2023 Reported Earnings • Apr 01
Full year 2022 earnings released: EPS: CN¥0.27 (vs CN¥0.27 in FY 2021) Full year 2022 results: EPS: CN¥0.27 (in line with FY 2021). Revenue: CN¥17.5b (up 15% from FY 2021). Net income: CN¥1.05b (up 60% from FY 2021). Profit margin: 6.0% (up from 4.3% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 7 new directors. 3 experienced directors. 1 highly experienced director. 3 independent directors (5 non-independent directors). Director Hongsong Cui is the most experienced director on the board, commencing their role in 2009. Independent Director Hongxia Liu was the last independent 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: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Nov 03
Henan Zhongfu Industrial Co.,Ltd (SHSE:600595) agreed to acquire Sichuan Yuheng Industrial Co., Ltd from Henan Luorui Trading Co., Ltd. for CNY 825.5 million Henan Zhongfu Industrial Co.,Ltd (SHSE:600595) agreed to acquire Sichuan Yuheng Industrial Co., Ltd from Henan Luorui Trading Co., Ltd. for CNY 825.5 million on October 31, 2022. Henan Zhongfu Industrial will fund the acquisition from its own funds. Within 30 days after the agreement takes effect, the company will pay 70% of the total transaction price to Luorui Trading and before March 31, 2023, it will pay 30% of the total transaction price to Luorui Trading. The board of directors of Henan Zhongfu Industrial Co.,Ltd approved the transaction. The transaction is subject to approval from shareholders of Henan Zhongfu Industrial Co.,Ltd. Sichuan Yuheng recorded total assets of CNY 3.15 billion and Net owners equity of CNY 1.53 billion as of September 30, 2022. The transaction is expected to close by March 31, 2023. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.042 (vs CN¥0.061 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.042. Revenue: CN¥4.54b (up 23% from 3Q 2021). Net income: CN¥170.2m (up 42% from 3Q 2021). Profit margin: 3.7% (up from 3.2% in 3Q 2021). The increase in margin was driven by higher revenue. Reported Earnings • Aug 20
Second quarter 2022 earnings released: EPS: CN¥0.14 (vs CN¥0.11 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.14 (up from CN¥0.11 in 2Q 2021). Revenue: CN¥5.22b (up 39% from 2Q 2021). Net income: CN¥559.8m (up 164% from 2Q 2021). Profit margin: 11% (up from 5.7% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 02
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CN¥0.11 (up from CN¥0.09 in 1Q 2021). Revenue: CN¥4.77b (up 48% from 1Q 2021). Net income: CN¥423.7m (up 145% from 1Q 2021). Profit margin: 8.9% (up from 5.4% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 18%. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
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. 4 non-independent directors. Independent Director Hongxia Liu 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 28
Third quarter 2021 earnings released: EPS CN¥0.061 (vs CN¥0.03 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥3.70b (up 75% from 3Q 2020). Net income: CN¥119.5m (up CN¥178.1m from 3Q 2020). Profit margin: 3.2% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 28% per year whereas the company’s share price has increased by 27% per year. Reported Earnings • Aug 31
Second quarter 2021 earnings released: EPS CN¥0.11 (vs CN¥0.05 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥3.74b (up 114% from 2Q 2020). Net income: CN¥211.8m (up CN¥306.9m from 2Q 2020). Profit margin: 5.7% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 16% per year. Reported Earnings • May 01
Full year 2020 earnings released: CN¥0.91 loss per share (vs CN¥0.05 profit in FY 2019) The company reported a mediocre full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: CN¥8.18b (up 48% from FY 2019). Net loss: CN¥1.78b (down CN¥1.89b from profit in FY 2019). 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 6% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 11
Full year 2020 earnings released: CN¥0.91 loss per share (vs CN¥0.05 profit in FY 2019) The company reported a mediocre full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: CN¥8.18b (up 48% from FY 2019). Net loss: CN¥1.78b (down CN¥1.89b from profit in FY 2019). 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 9% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Mar 11
New 90-day high: CN¥2.92 The company is up 1.0% from its price of CN¥2.88 on 11 December 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 10.0% over the same period. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥2.23, the stock is trading at a trailing P/E ratio of 71.8x, up from the previous P/E ratio of 62.1x. This compares to an average P/E of 30x in the Metals and Mining industry in China. Total return to shareholders over the past three years is a loss of 57%. Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥1.83, the stock is trading at a trailing P/E ratio of 58.9x, down from the previous P/E ratio of 70.1x. This compares to an average P/E of 31x in the Metals and Mining industry in China. Total return to shareholders over the past three years is a loss of 64%. Is New 90 Day High Low • Jan 12
New 90-day low: CN¥2.03 The company is down 10.0% from its price of CN¥2.26 on 14 October 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 13% over the same period. Is New 90 Day High Low • Dec 07
New 90-day high: CN¥2.69 The company is up 37% from its price of CN¥1.97 on 08 September 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 8.0% over the same period. Is New 90 Day High Low • Nov 10
New 90-day high: CN¥2.39 The company is up 44% from its price of CN¥1.66 on 12 August 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 1.0% over the same period. Is New 90 Day High Low • Oct 16
New 90-day high: CN¥2.38 The company is up 43% from its price of CN¥1.67 on 17 July 2020. The Chinese market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is flat over the same period. Announcement • Jul 09
Henan Zhongfu Industrial Co.,Ltd to Report First Half, 2020 Results on Aug 22, 2020 Henan Zhongfu Industrial Co.,Ltd announced that they will report first half, 2020 results on Aug 22, 2020 
