Declared Dividend • Jul 06
Dividend of CN¥0.13 announced Shareholders will receive a dividend of CN¥0.13. Ex-date: 9th July 2026 Payment date: 9th July 2026 Dividend yield will be 1.1%, which is lower than the industry average of 2.8%. Sustainability & Growth Dividend is covered by earnings (46% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 16% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 136% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 30
Zhejiang Hailiang Co., Ltd. to Report First Half, 2026 Results on Aug 25, 2026 Zhejiang Hailiang Co., Ltd. announced that they will report first half, 2026 results on Aug 25, 2026 Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥21.73, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 15x in the Metals and Mining industry in China. Total returns to shareholders of 91% over the past three years. Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥23.44, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 15x in the Metals and Mining industry in China. Total returns to shareholders of 105% over the past three years. New Risk • May 24
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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.2% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥20.89, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 20x in the Metals and Mining industry in China. Total returns to shareholders of 83% over the past three years. Reported Earnings • Apr 29
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.47 (up from CN¥0.35 in FY 2024). Revenue: CN¥83.3b (down 4.7% from FY 2024). Net income: CN¥943.2m (up 34% from FY 2024). Profit margin: 1.1% (up from 0.8% in FY 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 7.4%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 15% 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 19% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Announcement • Apr 29
Zhejiang Hailiang Co., Ltd., Annual General Meeting, May 19, 2026 Zhejiang Hailiang Co., Ltd., Annual General Meeting, May 19, 2026, at 14:30 China Standard Time. Location: No. 368, Xietong Road, Binjiang District, Hangzhou, Zhejiang China New Risk • Apr 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (4.9% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (408% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Shareholders have been diluted in the past year (15% increase in shares outstanding). Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥17.39, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 19x in the Metals and Mining industry in China. Total returns to shareholders of 64% over the past three years. Announcement • Mar 31
Zhejiang Hailiang Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Zhejiang Hailiang Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥14.82, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 20x in the Metals and Mining industry in China. Total returns to shareholders of 33% over the past three years. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥15.26, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 23x in the Metals and Mining industry in China. Total returns to shareholders of 32% over the past three years. Announcement • Dec 31
Zhejiang Hailiang Co., Ltd. to Report Fiscal Year 2025 Results on Apr 29, 2026 Zhejiang Hailiang Co., Ltd. announced that they will report fiscal year 2025 results on Apr 29, 2026 New Risk • Nov 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 23% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (4.9% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (408% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Announcement • Sep 30
Zhe Jiang Hai Liang Co., Ltd to Report Q3, 2025 Results on Oct 31, 2025 Zhe Jiang Hai Liang Co., Ltd announced that they will report Q3, 2025 results on Oct 31, 2025 Reported Earnings • Aug 31
Second quarter 2025 earnings released: EPS: CN¥0.19 (vs CN¥0.15 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.19 (up from CN¥0.15 in 2Q 2024). Revenue: CN¥24.0b (up 8.5% from 2Q 2024). Net income: CN¥366.5m (up 21% from 2Q 2024). Profit margin: 1.5% (up from 1.4% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 2 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 fallen by 16% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥12.23, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 18x in the Metals and Mining industry in China. Total returns to shareholders of 7.4% over the past three years. Announcement • Jul 02
Zhe Jiang Hai Liang Co., Ltd to Report First Half, 2025 Results on Aug 28, 2025 Zhe Jiang Hai Liang Co., Ltd announced that they will report first half, 2025 results on Aug 28, 2025 Declared Dividend • Jun 30
Dividend increased to CN¥0.18 Dividend of CN¥0.18 is 5.9% higher than last year. Ex-date: 4th July 2025 Payment date: 4th July 2025 Dividend yield will be 1.7%, which is lower than the industry average of 2.8%. Sustainability & Growth Dividend is covered by earnings (49% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 46% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • May 22
Zhe Jiang Hai Liang Co., Ltd Approves Dividend for 2024 Zhe Jiang Hai Liang Co. Ltd. at its Annual General Meeting of 2024 on 20 May 2025 approved The detailed profit distribution plan is as follows: Cash dividend per 10 shares (tax included): CNY 1.80000000. Board Change • May 10
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chairman Jian Guo Cao 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. Reported Earnings • Apr 27
First quarter 2025 earnings released: EPS: CN¥0.17 (vs CN¥0.16 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.17 (up from CN¥0.16 in 1Q 2024). Revenue: CN¥20.5b (down 6.0% from 1Q 2024). Net income: CN¥344.9m (up 9.5% from 1Q 2024). Profit margin: 1.7% (up from 1.4% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Metals and Mining industry in China. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Apr 26
Zhe Jiang Hai Liang Co., Ltd, Annual General Meeting, May 20, 2025 Zhe Jiang Hai Liang Co., Ltd, Annual General Meeting, May 20, 2025, at 14:30 China Standard Time. Location: No. 368, Xietong Road, Binjiang District, Hangzhou, Zhejiang China Announcement • Mar 31
Zhe Jiang Hai Liang Co., Ltd to Report Q1, 2025 Results on Apr 30, 2025 Zhe Jiang Hai Liang Co., Ltd announced that they will report Q1, 2025 results on Apr 30, 2025 Announcement • Dec 31
Zhe Jiang Hai Liang Co., Ltd to Report Fiscal Year 2024 Results on Apr 26, 2025 Zhe Jiang Hai Liang Co., Ltd announced that they will report fiscal year 2024 results on Apr 26, 2025 New Risk • Oct 31
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 37% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Announcement • Sep 30
Zhe Jiang Hai Liang Co., Ltd to Report Q3, 2024 Results on Oct 31, 2024 Zhe Jiang Hai Liang Co., Ltd announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥9.47, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Metals and Mining industry in China. Total loss to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥3.80 per share. Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: CN¥0.15 (vs CN¥0.19 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.15 (down from CN¥0.19 in 2Q 2023). Revenue: CN¥22.2b (down 8.4% from 2Q 2023). Net income: CN¥303.4m (down 21% from 2Q 2023). Profit margin: 1.4% (down from 1.6% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 13% 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 3% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 12
Dividend increased to CN¥0.17 Dividend of CN¥0.17 is 113% higher than last year. Ex-date: 17th July 2024 Payment date: 17th July 2024 Dividend yield will be 2.0%, which is lower than the industry average of 2.8%. Sustainability & Growth Dividend is covered by earnings (31% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 71% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 11
Zhe Jiang Hai Liang Co., Ltd Announces Final Dividend on A Shares for the Year 2023, Payable on 17 July 2024 Zhe Jiang Hai Liang Co. Ltd. announced final cash dividend/10 shares (tax included) of CNY 1.70000000 on A shares for the year 2023. Record date is 16 July 2024. Ex-date is 17 July 2024. Payment date is 17 July 2024. Announcement • Jun 29
Zhe Jiang Hai Liang Co., Ltd to Report First Half, 2024 Results on Aug 31, 2024 Zhe Jiang Hai Liang Co., Ltd announced that they will report first half, 2024 results on Aug 31, 2024 Announcement • May 25
Zhe Jiang Hai Liang Co., Ltd Approves Cash Dividend for 2023 Zhe Jiang Hai Liang Co. Ltd. at its Annual General Meeting of 2023 on 22 May 2024, approved Cash dividend/10 shares (tax included): CNY 1.70000000 for 2023. Price Target Changed • May 07
Price target decreased by 16% to CN¥12.00 Down from CN¥14.35, the current price target is provided by 1 analyst. New target price is 31% above last closing price of CN¥9.18. Stock is down 24% over the past year. The company is forecast to post earnings per share of CN¥0.64 for next year compared to CN¥0.56 last year. Announcement • May 02
Zhe Jiang Hai Liang Co., Ltd Proposes Final Cash Dividend for the Year 2023 Zhe Jiang Hai Liang Co. Ltd. announced on 30 April 2024 the profit distribution proposal for the year 2023 as final cash dividend per ten shares (tax included) of CNY 1.70000000. Announcement • May 01
Zhe Jiang Hai Liang Co., Ltd, Annual General Meeting, May 22, 2024 Zhe Jiang Hai Liang Co., Ltd, Annual General Meeting, May 22, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Hangzhou, Zhejiang China Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: CN¥0.16 (vs CN¥0.17 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.16 (down from CN¥0.17 in 1Q 2023). Revenue: CN¥21.9b (up 12% from 1Q 2023). Net income: CN¥315.1m (down 5.5% from 1Q 2023). Profit margin: 1.4% (down from 1.7% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Metals and Mining industry in China. 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 5% per year, which means it is significantly lagging earnings. Announcement • Mar 30
Zhe Jiang Hai Liang Co., Ltd to Report Q1, 2024 Results on Apr 30, 2024 Zhe Jiang Hai Liang Co., Ltd announced that they will report Q1, 2024 results on Apr 30, 2024 Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥10.62, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 11x in the Metals and Mining industry in China. Total returns to shareholders of 30% over the past three years. Announcement • Dec 29
Zhe Jiang Hai Liang Co., Ltd to Report Fiscal Year 2023 Results on Apr 29, 2024 Zhe Jiang Hai Liang Co., Ltd announced that they will report fiscal year 2023 results on Apr 29, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.13 (vs CN¥0.14 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.13 (down from CN¥0.14 in 3Q 2022). Revenue: CN¥25.8b (up 33% from 3Q 2022). Net income: CN¥252.8m (down 10% from 3Q 2022). Profit margin: 1.0% (down from 1.5% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% 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 17% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: CN¥0.19 (vs CN¥0.17 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.19 (up from CN¥0.17 in 2Q 2022). Revenue: CN¥24.3b (up 25% from 2Q 2022). Net income: CN¥383.6m (up 13% from 2Q 2022). Profit margin: 1.6% (down from 1.7% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. New Risk • Aug 31
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 23% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. 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). High level of non-cash earnings (23% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Board Change • Jun 29
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Chairman Jian Cao 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 • Jun 29
Zhe Jiang Hai Liang Co., Ltd Announces Final Dividend on A Shares for the Year 2022, Payable on July 5, 2023 Zhe Jiang Hai Liang Co. Ltd. announced final cash dividend/10 shares (tax included) of CNY0.80000000 on A shares for the year 2022. Record date is July 4, 2023. Ex-date is July 5, 2023. Payment date is July 5, 2023. Announcement • May 23
Zhe Jiang Hai Liang Co. Ltd. Approves Cash Dividend for the Year 2022 Zhe Jiang Hai Liang Co. Ltd. approved cash dividend of CNY 0.80000000 per ten shares (tax included) for the year 2022 at the AGM held on May 19, 2023. Reported Earnings • Apr 26
Full year 2022 earnings released: EPS: CN¥0.62 (vs CN¥0.56 in FY 2021) Full year 2022 results: EPS: CN¥0.62 (up from CN¥0.56 in FY 2021). Revenue: CN¥74.0b (up 17% from FY 2021). Net income: CN¥1.21b (up 9.1% from FY 2021). Profit margin: 1.6% (down from 1.7% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 7% per year. Reported Earnings • Oct 31
Third quarter 2022 earnings released: EPS: CN¥0.14 (vs CN¥0.16 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.14 (down from CN¥0.16 in 3Q 2021). Revenue: CN¥19.4b (up 19% from 3Q 2021). Net income: CN¥281.9m (down 6.2% from 3Q 2021). Profit margin: 1.5% (down from 1.8% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year and the company’s share price has also increased by 6% per year. Board Change • Oct 31
High number of new directors Non-Independent Director Guoyong Shao was the last director to join the board, commencing their role in 2022. Announcement • Sep 22
Zhe Jiang Hai Liang Co., Ltd Elects Shao Guoyong as Non-Independent Director Zhe Jiang Hai Liang Co. Ltd. at its 1st Extraordinary General Meeting of 2022 on 20 September 2022 approved Shao Guoyong as non-independent director. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥12.30, the stock trades at a trailing P/E ratio of 21.3x. Average trailing P/E is 30x in the Metals and Mining industry in China. Total returns to shareholders of 20% over the past three years. Reported Earnings • Sep 04
Second quarter 2022 earnings released: EPS: CN¥0.17 (vs CN¥0.18 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.17 (down from CN¥0.18 in 2Q 2021). Revenue: CN¥19.6b (up 12% from 2Q 2021). Net income: CN¥339.1m (down 3.3% from 2Q 2021). Profit margin: 1.7% (down from 2.0% 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 increased by 1% per year. Announcement • Jun 24
Zhe Jiang Hai Liang Co., Ltd Announces Final Profit Distribution Plan on Share A for 2021, Payable on June 30, 2022 Zhe Jiang Hai Liang Co. Ltd. announced Cash dividend/10 shares (tax included) is CNY 0.75000000 on share A for 2021. Record date: 29 June 2022, Ex-date: 30 June 2022 and Payable on June 30, 2022. Announcement • May 20
Zhe Jiang Hai Liang Co., Ltd Approves Cash Dividend for 2021 Zhe Jiang Hai Liang Co., Ltd, at the AGM held on 18 May 2022 approved Cash dividend/10 shares (tax included) of CNY 0.75000000 for 2021. Reported Earnings • Apr 28
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥0.56 (up from CN¥0.35 in FY 2020). Revenue: CN¥63.4b (up 36% from FY 2020). Net income: CN¥1.11b (up 63% from FY 2020). Profit margin: 1.7% (up from 1.5% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.3%. Earnings per share (EPS) missed analyst estimates by 16%. 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 6% per year. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Independent Director Shuguang Wang was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥12.22, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Metals and Mining industry in China. Total returns to shareholders of 66% over the past three years. Reported Earnings • Nov 01
Third quarter 2021 earnings released: EPS CN¥0.16 (vs CN¥0.094 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥16.4b (up 48% from 3Q 2020). Net income: CN¥300.5m (up 68% from 3Q 2020). Profit margin: 1.8% (up from 1.6% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Announcement • May 25
Zhe Jiang Hai Liang Co., Ltd Approves Final Dividend for 2020 Zhe Jiang Hai Liang Co. Ltd. announced at the AGM held on May 21, 2021 that the company approved the profit distribution for 2020 as cash dividend/10 shares (tax included) of CNY 0.75000000. Announcement • May 01
Zhe Jiang Hai Liang Co., Ltd Proposes Final Dividend for 2020 Zhe Jiang Hai Liang Co. Ltd. announced on 30 April 2021 the profit distribution proposal for 2020 as cash dividend/10 shares (tax included) of CNY 0.75000000. Reported Earnings • Apr 18
Full year 2020 earnings released: EPS CN¥0.35 (vs CN¥0.56 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: CN¥46.6b (up 13% from FY 2019). Net income: CN¥675.5m (down 37% from FY 2019). Profit margin: 1.5% (down from 2.6% in FY 2019). The decrease in margin was driven by higher expenses. 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 6% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 19
New 90-day high: CN¥8.63 The company is up 4.0% from its price of CN¥8.31 on 20 November 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 12% over the same period. Is New 90 Day High Low • Jan 11
New 90-day low: CN¥7.19 The company is down 10.0% from its price of CN¥8.02 on 13 October 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 17% over the same period. Is New 90 Day High Low • Dec 23
New 90-day low: CN¥7.63 The company is down 2.0% from its price of CN¥7.81 on 24 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 9.0% over the same period. Is New 90 Day High Low • Dec 06
New 90-day high: CN¥8.51 The company is up 1.0% from its price of CN¥8.41 on 07 September 2020. The Chinese market is flat over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 6.0% over the same period. Reported Earnings • Nov 01
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥786.4m, down 24% from the prior year. Total revenue was CN¥43.7b over the last 12 months, up 7.5% from the prior year. Is New 90 Day High Low • Sep 22
New 90-day low: CN¥8.16 The company is down 8.0% from its price of CN¥8.85 on 24 June 2020. The Chinese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 11% over the same period. Announcement • Aug 11
Zhe Jiang Hai Liang Co., Ltd to Report First Half, 2020 Results on Aug 27, 2020 Zhe Jiang Hai Liang Co., Ltd announced that they will report first half, 2020 results on Aug 27, 2020 
