Reported Earnings • Apr 25
Full year 2025 earnings released: CN¥0.58 loss per share (vs CN¥0.57 loss in FY 2024) Full year 2025 results: CN¥0.58 loss per share (further deteriorated from CN¥0.57 loss in FY 2024). Revenue: CN¥10.1b (down 31% from FY 2024). Net loss: CN¥1.18b (loss widened 1.6% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Announcement • Apr 25
Shaanxi Heimao Coking Co., Ltd., Annual General Meeting, May 15, 2026 Shaanxi Heimao Coking Co., Ltd., Annual General Meeting, May 15, 2026, at 14:30 China Standard Time. Location: 5F, Huanghe Kuangye Building, Panhe Road, Hancheng, Shaanxi China Announcement • Mar 30
Shaanxi Heimao Coking Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Shaanxi Heimao Coking Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 New Risk • Mar 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 10% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 65% per year over the past 5 years. Announcement • Dec 26
Shaanxi Heimao Coking Co., Ltd. to Report Fiscal Year 2025 Results on Apr 25, 2026 Shaanxi Heimao Coking Co., Ltd. announced that they will report fiscal year 2025 results on Apr 25, 2026 New Risk • Nov 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 7.5% 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 65% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.5% average weekly change). Reported Earnings • Nov 04
Third quarter 2025 earnings released: CN¥0.14 loss per share (vs CN¥0.091 loss in 3Q 2024) Third quarter 2025 results: CN¥0.14 loss per share (further deteriorated from CN¥0.091 loss in 3Q 2024). Revenue: CN¥2.62b (down 29% from 3Q 2024). Net loss: CN¥283.9m (loss widened 44% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Announcement • Sep 30
Shaanxi Heimao Coking Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Shaanxi Heimao Coking Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 New Risk • Aug 27
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 60% per year over the past 5 years. Announcement • Jun 30
Shaanxi Heimao Coking Co., Ltd. to Report First Half, 2025 Results on Aug 29, 2025 Shaanxi Heimao Coking Co., Ltd. announced that they will report first half, 2025 results on Aug 29, 2025 New Risk • Apr 25
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 14% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings have declined by 53% per year over the past 5 years. Reported Earnings • Apr 19
Full year 2024 earnings released: CN¥0.57 loss per share (vs CN¥0.25 loss in FY 2023) Full year 2024 results: CN¥0.57 loss per share (further deteriorated from CN¥0.25 loss in FY 2023). Revenue: CN¥14.6b (down 22% from FY 2023). Net loss: CN¥1.16b (loss widened 126% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. Announcement • Apr 18
Shaanxi Heimao Coking Co., Ltd., Annual General Meeting, May 08, 2025 Shaanxi Heimao Coking Co., Ltd., Annual General Meeting, May 08, 2025, at 14:30 China Standard Time. Location: 5F, Huanghe Kuangye Building, Panhe Road, Hancheng, Shaanxi China Announcement • Mar 28
Shaanxi Heimao Coking Co., Ltd. to Report Q1, 2025 Results on Apr 25, 2025 Shaanxi Heimao Coking Co., Ltd. announced that they will report Q1, 2025 results on Apr 25, 2025 Announcement • Dec 27
Shaanxi Heimao Coking Co., Ltd. to Report Fiscal Year 2024 Results on Apr 18, 2025 Shaanxi Heimao Coking Co., Ltd. announced that they will report fiscal year 2024 results on Apr 18, 2025 Reported Earnings • Oct 31
Third quarter 2024 earnings released: CN¥0.091 loss per share (vs CN¥0.11 loss in 3Q 2023) Third quarter 2024 results: CN¥0.091 loss per share (improved from CN¥0.11 loss in 3Q 2023). Revenue: CN¥3.67b (down 23% from 3Q 2023). Net loss: CN¥196.7m (loss narrowed 1.7% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. Announcement • Sep 30
Shaanxi Heimao Coking Co., Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Shaanxi Heimao Coking Co., Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 Reported Earnings • Aug 30
Second quarter 2024 earnings released: CN¥0.12 loss per share (vs CN¥0.05 loss in 2Q 2023) Second quarter 2024 results: CN¥0.12 loss per share (further deteriorated from CN¥0.05 loss in 2Q 2023). Revenue: CN¥3.63b (down 12% from 2Q 2023). Net loss: CN¥233.3m (loss widened 94% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Announcement • Jun 28
Shaanxi Heimao Coking Co., Ltd. to Report First Half, 2024 Results on Aug 30, 2024 Shaanxi Heimao Coking Co., Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Reported Earnings • Apr 26
First quarter 2024 earnings released: CN¥0.10 loss per share (vs CN¥0.03 profit in 1Q 2023) First quarter 2024 results: CN¥0.10 loss per share (down from CN¥0.03 profit in 1Q 2023). Revenue: CN¥4.12b (down 18% from 1Q 2023). Net loss: CN¥212.3m (down 479% from profit in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 30
Full year 2023 earnings released: CN¥0.25 loss per share (vs CN¥0.14 profit in FY 2022) Full year 2023 results: CN¥0.25 loss per share (down from CN¥0.14 profit in FY 2022). Revenue: CN¥18.6b (down 20% from FY 2022). Net loss: CN¥512.1m (down 284% from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance. Announcement • Dec 30
Shaanxi Heimao Coking Co., Ltd. to Report Fiscal Year 2023 Results on Mar 29, 2024 Shaanxi Heimao Coking Co., Ltd. announced that they will report fiscal year 2023 results on Mar 29, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: CN¥0.11 loss per share (vs CN¥0.11 loss in 3Q 2022) Third quarter 2023 results: CN¥0.11 loss per share (further deteriorated from CN¥0.11 loss in 3Q 2022). Revenue: CN¥4.75b (down 12% from 3Q 2022). Net loss: CN¥200.2m (loss widened 2.0% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Sep 30
Shaanxi Heimao Coking Co., Ltd. to Report Q3, 2023 Results on Oct 31, 2023 Shaanxi Heimao Coking Co., Ltd. announced that they will report Q3, 2023 results on Oct 31, 2023 Reported Earnings • Aug 18
Second quarter 2023 earnings released: CN¥0.05 loss per share (vs CN¥0.091 profit in 2Q 2022) Second quarter 2023 results: CN¥0.05 loss per share (down from CN¥0.091 profit in 2Q 2022). Revenue: CN¥4.10b (down 41% from 2Q 2022). Net loss: CN¥120.1m (down 160% from profit in 2Q 2022). Revenue is forecast to grow 9.9% p.a. on average during the next 3 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 but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Jun 28
Shaanxi Heimao Coking Co., Ltd. to Report First Half, 2023 Results on Aug 18, 2023 Shaanxi Heimao Coking Co., Ltd. announced that they will report first half, 2023 results on Aug 18, 2023 Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: CN¥0.03 (vs CN¥0.12 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.03 (down from CN¥0.12 in 1Q 2022). Revenue: CN¥5.01b (down 11% from 1Q 2022). Net income: CN¥56.0m (down 76% from 1Q 2022). Profit margin: 1.1% (down from 4.2% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.8% p.a. on average during the next 3 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 increased by 22% per year whereas the company’s share price has increased by 19% per year. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥5.35, the stock trades at a trailing P/E ratio of 25.5x. Average trailing P/E is 30x in the Metals and Mining industry in China. Total returns to shareholders of 107% over the past three years. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Director Peng Sun was the last 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 31
Third quarter 2022 earnings released: CN¥0.11 loss per share (vs CN¥0.20 profit in 3Q 2021) Third quarter 2022 results: CN¥0.11 loss per share (down from CN¥0.20 profit in 3Q 2021). Revenue: CN¥5.38b (up 7.8% from 3Q 2021). Net loss: CN¥196.3m (down 151% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: CN¥0.091 (vs CN¥0.19 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.091 (down from CN¥0.19 in 2Q 2021). Revenue: CN¥6.92b (up 49% from 2Q 2021). Net income: CN¥199.1m (down 36% from 2Q 2021). Profit margin: 2.9% (down from 6.7% 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 85% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥6.73, the stock trades at a trailing P/E ratio of 11x. Average trailing P/E is 29x in the Metals and Mining industry in China. Total returns to shareholders of 107% over the past three years. Valuation Update With 7 Day Price Move • May 24
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥5.93, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 27x in the Metals and Mining industry in China. Total returns to shareholders of 71% over the past three years. Reported Earnings • Apr 28
First quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2022 results: EPS: CN¥0.12 (down from CN¥0.32 in 1Q 2021). Revenue: CN¥5.65b (up 26% from 1Q 2021). Net income: CN¥237.1m (down 55% from 1Q 2021). Profit margin: 4.2% (down from 12% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. 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. 8 experienced directors. 4 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Pi Jiang Cui was the last independent director to join the board, commencing their role in 2015. 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 • Apr 03
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: CN¥0.83 (up from CN¥0.17 in FY 2020). Revenue: CN¥18.9b (up 109% from FY 2020). Net income: CN¥1.53b (up 449% from FY 2020). Profit margin: 8.1% (up from 3.1% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥7.15, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Oil and Gas industry in China. Total returns to shareholders of 91% over the past three years. Reported Earnings • Oct 26
Third quarter 2021 earnings released: EPS CN¥0.20 (vs CN¥0.08 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥4.99b (up 110% from 3Q 2020). Net income: CN¥385.8m (up 231% from 3Q 2020). Profit margin: 7.7% (up from 4.9% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 19
Second quarter 2021 earnings released: EPS CN¥0.19 (vs CN¥0.02 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¥4.64b (up 146% from 2Q 2020). Net income: CN¥312.8m (up CN¥344.4m from 2Q 2020). Profit margin: 6.7% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 10
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥9.47, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 10x in the Oil and Gas industry in China. Total returns to shareholders of 103% over the past three years. Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment deteriorated over the past week After last week's 19% share price decline to CN¥8.93, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Oil and Gas industry in China. Total returns to shareholders of 79% over the past three years. Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improved over the past week After last week's 30% share price gain to CN¥10.89, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 11x in the Oil and Gas industry in China. Total returns to shareholders of 100% over the past three years. Valuation Update With 7 Day Price Move • May 05
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥7.71, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Oil and Gas industry in China. Total returns to shareholders of 46% over the past three years. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS CN¥0.32 (vs CN¥0.04 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¥4.49b (up 190% from 1Q 2020). Net income: CN¥524.9m (up CN¥585.4m from 1Q 2020). Profit margin: 12% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS CN¥0.17 (vs CN¥0.02 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¥9.06b (down 3.5% from FY 2019). Net income: CN¥278.2m (up CN¥249.4m from FY 2019). Profit margin: 3.1% (up from 0.3% in FY 2019). The increase in margin was driven by lower 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 5% per year, which means it is well ahead of earnings. Announcement • Mar 04
Shaanxi Heimao Coking Co., Ltd. to Report Fiscal Year 2020 Results on Mar 26, 2021 Shaanxi Heimao Coking Co., Ltd. announced that they will report fiscal year 2020 results on Mar 26, 2021 Is New 90 Day High Low • Feb 03
New 90-day high: CN¥8.20 The company is up 152% from its price of CN¥3.26 on 05 November 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 1.0% over the same period. Is New 90 Day High Low • Jan 19
New 90-day high: CN¥4.95 The company is up 66% from its price of CN¥2.98 on 21 October 2020. The Chinese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 4.0% over the same period. Is New 90 Day High Low • Dec 08
New 90-day high: CN¥3.83 The company is up 26% from its price of CN¥3.03 on 09 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 4.0% over the same period. Is New 90 Day High Low • Nov 04
New 90-day high: CN¥3.26 The company is up 5.0% from its price of CN¥3.11 on 06 August 2020. The Chinese market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is down 3.0% over the same period. Reported Earnings • Oct 20
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥40.0m, down 70% from the prior year. Total revenue was CN¥8.04b over the last 12 months, down 22% from the prior year. Announcement • Oct 16
Shaanxi Heimao Coking Co., Ltd. to Report Q3, 2020 Results on Oct 20, 2020 Shaanxi Heimao Coking Co., Ltd. announced that they will report Q3, 2020 results on Oct 20, 2020 Announcement • Jul 30
Hancheng Kanda Meijiao Co., Ltd. completed the acquisition of 44% stake in Hancheng Huijin Logistics Trading Co., Ltd. from Shaanxi Heimao Coking Co., Ltd. (SHSE:601015). Hancheng Kanda Meijiao Co., Ltd. agreed to acquire 44% stake in Hancheng Huijin Logistics Trading Co., Ltd. from Shaanxi Heimao Coking Co., Ltd. (SHSE:601015) for CNY 44 million on May 28, 2020. For the year ended December 31, 2019, Hancheng Huijin Logistics Trading Co., Ltd. reported total assets of CNY 3.57 billion, net assets of CNY 197.3 million, revenues of CNY 7.31 billion and net profit of CNY 14.1 million. The transaction is approved by Shaanxi Heimao Coking Co., Ltd. at the 16th meeting of the 4th directorate.
Hancheng Kanda Meijiao Co., Ltd. completed the acquisition of 44% stake in Hancheng Huijin Logistics Trading Co., Ltd. from Shaanxi Heimao Coking Co., Ltd. (SHSE:601015) on June 8, 2020. Announcement • Jul 08
Shaanxi Heimao Coking Co., Ltd. to Report First Half, 2020 Results on Aug 18, 2020 Shaanxi Heimao Coking Co., Ltd. announced that they will report first half, 2020 results on Aug 18, 2020 
