Declared Dividend • May 20
Dividend of CN¥0.45 announced Shareholders will receive a dividend of CN¥0.45. Ex-date: 22nd May 2026 Payment date: 22nd May 2026 Dividend yield will be 2.7%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (36% cash payout ratio). 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 30% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 19
Limin Group Co.,Ltd. announces Annual dividend, payable on May 22, 2026 Limin Group Co.,Ltd. announced Annual dividend of CNY 0.4500 per share payable on May 22, 2026, ex-date on May 22, 2026 and record date on May 21, 2026. New Risk • Apr 20
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.8% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. 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: Major Risk Shareholders have been substantially diluted in the past year (33% increase in shares outstanding). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.7% average weekly change). Announcement • Apr 17
Limin Group Co.,Ltd., Annual General Meeting, May 08, 2026 Limin Group Co.,Ltd., Annual General Meeting, May 08, 2026, at 14:30 China Standard Time. Location: 4F, Executive Building, No. 69, Jingjiu Road, Xinyi Economic Development Zone, Xinyi, Jiangsu China Reported Earnings • Apr 17
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: CN¥1.17 (up from CN¥0.23 in FY 2024). Revenue: CN¥4.53b (up 6.8% from FY 2024). Net income: CN¥479.8m (up 490% from FY 2024). Profit margin: 11% (up from 1.9% in FY 2024). The increase in margin was primarily driven by higher revenue. Revenue missed analyst estimates by 14%. Earnings per share (EPS) exceeded analyst estimates by 2.6%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • Mar 31
Limin Group Co.,Ltd. to Report Q1, 2026 Results on Apr 24, 2026 Limin Group Co.,Ltd. announced that they will report Q1, 2026 results on Apr 24, 2026 Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥17.82, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 23x in the Chemicals industry in China. Total returns to shareholders of 94% over the past three years. New Risk • Mar 19
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 Shareholders have been substantially diluted in the past year (34% increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (8.2% average weekly change). Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥22.48, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 28x in the Chemicals industry in China. Total returns to shareholders of 121% over the past three years. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥20.99, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 27x in the Chemicals industry in China. Total returns to shareholders of 122% over the past three years. New Risk • Jan 06
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 32% This is considered a major 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. This is currently the only risk that has been identified for the company. Announcement • Dec 31
Limin Group Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 17, 2026 Limin Group Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 17, 2026 Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: CN¥0.28 (vs CN¥0.05 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.28 (up from CN¥0.05 in 3Q 2024). Revenue: CN¥1.15b (up 9.7% from 3Q 2024). Net income: CN¥121.1m (up CN¥101.7m from 3Q 2024). Profit margin: 11% (up from 1.9% in 3Q 2024). Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 25% per year. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥20.80, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 24x in the Chemicals industry in China. Total returns to shareholders of 138% over the past three years. Announcement • Sep 30
Limin Group Co.,Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Limin Group Co.,Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Reported Earnings • Aug 18
Second quarter 2025 earnings released: EPS: CN¥0.38 (vs CN¥0.14 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.38 (up from CN¥0.14 in 2Q 2024). Revenue: CN¥1.24b (down 5.1% from 2Q 2024). Net income: CN¥160.7m (up 300% from 2Q 2024). Profit margin: 13% (up from 3.1% in 2Q 2024). Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Chemicals industry in China. 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 29% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥23.37, the stock trades at a forward P/E ratio of 45x. Average forward P/E is 24x in the Chemicals industry in China. Total returns to shareholders of 145% over the past three years. Announcement • Jul 02
Limin Group Co.,Ltd. to Report First Half, 2025 Results on Aug 15, 2025 Limin Group Co.,Ltd. announced that they will report first half, 2025 results on Aug 15, 2025 New Risk • Jul 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% 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 Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks High level of debt (55% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Shareholders have been diluted in the past year (16% increase in shares outstanding). Valuation Update With 7 Day Price Move • Jun 25
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to CN¥18.08, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 21x in the Chemicals industry in China. Total returns to shareholders of 98% over the past three years. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥20.55, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 21x in the Chemicals industry in China. Total returns to shareholders of 122% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥39.72 per share. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥17.28, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 20x in the Chemicals industry in China. Total returns to shareholders of 88% over the past three years. New Risk • May 14
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 8.7% 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: Minor Risks High level of debt (55% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.7% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥14.11, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 20x in the Chemicals industry in China. Total returns to shareholders of 66% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥8.92 per share. New Risk • Apr 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 44% 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 High level of debt (55% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Announcement • Apr 19
Limin Group Co.,Ltd. Proposes Final Cash Dividend for the Year 2024 Limin Group Co.,Ltd. proposed the final cash dividend/10 shares (tax included) of CNY 2.50000000 for the year 2024. Announcement • Apr 18
Limin Group Co.,Ltd., Annual General Meeting, May 09, 2025 Limin Group Co.,Ltd., Annual General Meeting, May 09, 2025, at 14:30 China Standard Time. Location: 4F, Executive Building, No. 69, Jingjiu Road, Xinyi Economic Development Zone, Xinyi, Jiangsu China Reported Earnings • Apr 10
Full year 2024 earnings released: EPS: CN¥0.23 (vs CN¥0.17 in FY 2023) Full year 2024 results: EPS: CN¥0.23 (up from CN¥0.17 in FY 2023). Revenue: CN¥4.24b (flat on FY 2023). Net income: CN¥81.4m (up 31% from FY 2023). Profit margin: 1.9% (up from 1.5% in FY 2023). Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Mar 31
Limin Group Co.,Ltd. to Report Q1, 2025 Results on Apr 21, 2025 Limin Group Co.,Ltd. announced that they will report Q1, 2025 results on Apr 21, 2025 Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥11.63, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 22x in the Chemicals industry in China. Total returns to shareholders of 18% over the past three years. Announcement • Dec 31
Limin Group Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 18, 2025 Limin Group Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 18, 2025 Valuation Update With 7 Day Price Move • Nov 26
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥9.06, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 19x in the Chemicals industry in China. Total loss to shareholders of 26% over the past three years. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.05 (vs CN¥0.11 loss in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.05 (up from CN¥0.11 loss in 3Q 2023). Revenue: CN¥1.05b (down 4.2% from 3Q 2023). Net income: CN¥19.5m (up CN¥55.0m from 3Q 2023). Profit margin: 1.9% (up from net loss in 3Q 2023). Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Oct 29
Limin Group Co.,Ltd. Announces Board Appointments Limin Group Co.,Ltd. held its 4th Extraordinary General Meeting of 2024 on 25 October 2024, during which the following proposal(s) was/were approved: By-election of non-independent directors, cumulative voting system applicable: Li Xinsheng, non-independent director, Zhang Qing, non-independent director, Fan Chaohui, non-independent director, Sun Jingquan, non-independent director, Li Yuanyuan, non-independent director, Chen Xin'an, non-independent director, and Xu Zhao, non-independent director. Election of independent directors, cumulative voting system applicable:Ma Jianping, independent director, Shen Zhe, independent director, Liu Yaping, independent director, and Cheng Li, independent director. Election of supervisors, cumulative voting system applicable: Li Ke, supervisor and Yan Dayun, supervisor. Announcement • Sep 30
Limin Group Co.,Ltd. to Report Q3, 2024 Results on Oct 28, 2024 Limin Group Co.,Ltd. announced that they will report Q3, 2024 results on Oct 28, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥7.80, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 16x in the Chemicals industry in China. Total loss to shareholders of 23% over the past three years. Announcement • Sep 21
Limin Group Co.,Ltd. Approves 2024 Interim Profit Distribution Plan Limin Group Co.,Ltd. at its third Extraordinary General Meeting of held on 19 September 2024, approved: 2024 interim profit distribution plan. The detailed profit distribution plan is as follows: Cash dividend per 10 shares (tax included): CNY1.50000000. Announcement • Aug 30
Limin Group Co.,Ltd. Announces the Profit Distribution Proposal for the First Half of 2024 Limin Group Co.,Ltd. announced the profit distribution proposal for the first half of 2024, Cash dividend per 10 shares (tax included) of CNY 1.50000000. Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: CN¥0.14 (vs CN¥0.005 loss in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.14 (up from CN¥0.005 loss in 2Q 2023). Revenue: CN¥1.31b (up 16% from 2Q 2023). Net income: CN¥40.2m (up CN¥42.2m from 2Q 2023). Profit margin: 3.1% (up from net loss in 2Q 2023). Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Announcement • Jun 29
Limin Group Co.,Ltd. to Report First Half, 2024 Results on Aug 29, 2024 Limin Group Co.,Ltd. announced that they will report first half, 2024 results on Aug 29, 2024 Declared Dividend • Jun 07
Dividend reduced to CN¥0.20 Dividend of CN¥0.20 is 20% lower than last year. Ex-date: 12th June 2024 Payment date: 12th June 2024 Dividend yield will be 2.9%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (28% cash payout ratio). The dividend has increased by an average of 7.5% per year over the past 9 years. However, payments have been volatile during that time. Announcement • Jun 06
Limin Group Co.,Ltd. Announces Final Profit Distribution Plan to Be Implemented on A Shares for the Year 2023, Payable on 12 June 2024 Limin Group Co.,Ltd. announced final profit distribution plan to be implemented on A shares as cash dividend per ten shares (tax included) of CNY 2.00000000 for the year 2023, payable on 12 June 2024. Record date is 11 June 2024. Ex-date is 12 June 2024. Announcement • Apr 28
Limin Group Co.,Ltd., Annual General Meeting, May 16, 2024 Limin Group Co.,Ltd., Annual General Meeting, May 16, 2024, at 14:30 China Standard Time. Location: 4F, Executive Building, No. 69, Jingjiu Road, Xinyi Economic Development Zone, Xinyi, Jiangsu China Agenda: To consider 2023 work report of the board of directors; to consider 2023 work report of the supervisory committee; to consider 2023 annual report and its summary; to consider 2023 annual accounts report; to consider 2023 profit distribution plan; to consider 2024 financial budget report; to consider 2024 remuneration plan for directors, supervisors and senior management; to consider 2024 application for comprehensive credit line to banks; to consider 2024 estimated guarantee quota for subsidiaries; to consider Reappointment of 2024 audit firm; and to consider other matters. Announcement • Apr 27
Limin Group Co.,Ltd. Proposes Final Dividend for the Year 2023 Limin Group Co.,Ltd. announced on 26 April 2024 the final profit distribution proposal for 2023 as follows: Cash dividend/10 shares (tax included): CNY 2.00000000. Reported Earnings • Apr 26
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.17 (down from CN¥0.60 in FY 2022). Revenue: CN¥4.22b (down 16% from FY 2022). Net income: CN¥62.1m (down 72% from FY 2022). Profit margin: 1.5% (down from 4.4% in FY 2022). Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 72%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to CN¥6.51, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Chemicals industry in China. Total loss to shareholders of 44% over the past three years. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥7.48, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 16x in the Chemicals industry in China. Total loss to shareholders of 40% over the past three years. Announcement • Mar 30
Limin Group Co.,Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Limin Group Co.,Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Announcement • Mar 02
Limin Group Co.,Ltd. (SZSE:002734) commences an Equity Buyback Plan for CNY 180 million worth of its shares, under the authorization approved on February 22, 2024. Limin Group Co.,Ltd. (SZSE:002734) commences a share repurchases on February 28, 2024, under the program mandated by the shareholders in the Extraordinary General Meeting held on February 22, 2024. As per the mandate, the company is authorized to repurchase up to CNY 180 million worth of its shares. The shares will be repurchased at a price not more than CNY 11.52 per share. The purpose of the plan is to use the repurchased shares for employee stock ownership plans or equity incentive plans. If the company fails to use the shares for said purpose, the unused shares will be cancelled. The company will use its own funds to repurchase its shares. The authorization will valid for a period of 12 months from the date of shareholders approval. 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¥6.10, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Chemicals industry in China. Total loss to shareholders of 50% over the past three years. Announcement • Dec 30
Limin Group Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 26, 2024 Limin Group Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 26, 2024 New Risk • Nov 03
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 32% 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 Risks Interest payments are not well covered by earnings (2.0x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 145% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.4% net profit margin). Reported Earnings • Nov 01
Third quarter 2023 earnings released: CN¥0.11 loss per share (vs CN¥0.073 profit in 3Q 2022) Third quarter 2023 results: CN¥0.11 loss per share (down from CN¥0.073 profit in 3Q 2022). Revenue: CN¥1.09b (down 12% from 3Q 2022). Net loss: CN¥35.5m (down 228% from profit in 3Q 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
Limin Group Co.,Ltd. to Report Q3, 2023 Results on Oct 30, 2023 Limin Group Co.,Ltd. announced that they will report Q3, 2023 results on Oct 30, 2023 New Risk • Aug 29
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: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.8% net profit margin). New Risk • Aug 19
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% 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 Risk Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (2.8% net profit margin). Reported Earnings • Aug 18
Second quarter 2023 earnings released: CN¥0.005 loss per share (vs CN¥0.15 profit in 2Q 2022) Second quarter 2023 results: CN¥0.005 loss per share (down from CN¥0.15 profit in 2Q 2022). Revenue: CN¥1.12b (down 28% from 2Q 2022). Net loss: CN¥2.01m (down 104% from profit in 2Q 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Announcement • Jul 01
Limin Group Co.,Ltd. to Report First Half, 2023 Results on Aug 18, 2023 Limin Group Co.,Ltd. announced that they will report first half, 2023 results on Aug 18, 2023 Announcement • Jun 13
Limin Group Co.,Ltd. Announces Cash Dividend A Shares for the Year 2022, Payable on 16 June 2023 Limin Group Co.,Ltd. announced cash dividend/10 shares (A shares) (tax included) of CNY CNY 2.50000000 for the year 2022. Record date: 15 June 2023. Ex-date: 16 June 2023. Payment date: 16 June 2023. Reported Earnings • Apr 21
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥0.60 (down from CN¥0.82 in FY 2021). Revenue: CN¥5.02b (up 5.9% from FY 2021). Net income: CN¥219.0m (down 29% from FY 2021). Profit margin: 4.4% (down from 6.5% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) also missed analyst estimates by 27%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥11.85, the stock trades at a trailing P/E ratio of 20.2x. Average trailing P/E is 30x in the Chemicals industry in China. Total returns to shareholders of 7.8% over the past three years. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Li Cheng 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 25
Third quarter 2022 earnings released: EPS: CN¥0.073 (vs CN¥0.06 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.073 (up from CN¥0.06 in 3Q 2021). Revenue: CN¥1.23b (up 6.3% from 3Q 2021). Net income: CN¥27.7m (up 22% from 3Q 2021). Profit margin: 2.2% (up from 2.0% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Chemicals 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 only fallen by 6% per year, which means it has not declined as severely as earnings. Board Change • Aug 26
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Li Cheng 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 • Aug 20
Second quarter 2022 earnings released: EPS: CN¥0.15 (vs CN¥0.23 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.15 (down from CN¥0.23 in 2Q 2021). Revenue: CN¥1.56b (up 24% from 2Q 2021). Net income: CN¥54.1m (down 37% from 2Q 2021). Profit margin: 3.5% (down from 6.8% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 20%, compared to a 41% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • May 20
Limin Group Co., Ltd. Announces Final Profit Distribution Plan to Be Implemented on A Shares for the Year 2021, Payable on 24 May 2022 Limin Group Co., Ltd. announced final profit distribution plan to be implemented on A shares as cash dividend per ten shares (tax included) of CNY 3.00000000 for the year 2021, payable on 24 May 2022. Record date: 23 May 2022. Ex-date: 24 May 2022. Announcement • May 14
Limin Group Co., Ltd. Approves Final Dividend for 2021 Limin Group Co., Ltd. at its Annual General Meeting held on 11 May 2022 approved final cash dividend/10 shares (tax included) of CNY 3.00000000 for 2021. Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: CN¥0.26 (vs CN¥0.43 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.26 (down from CN¥0.43 in 1Q 2021). Revenue: CN¥1.25b (down 2.5% from 1Q 2021). Net income: CN¥97.2m (down 40% from 1Q 2021). Profit margin: 7.8% (down from 13% in 1Q 2021). The decrease in margin was primarily driven by higher expenses. Over the next year, revenue is forecast to grow 23%, compared to a 43% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 7% per year. Announcement • Apr 21
LMGF Proposes Final Dividend for 2021 LMGF proposed final cash dividend/10 shares (tax included) of CNY 3.00000000 for 2021. Reported Earnings • Apr 21
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥0.82 (down from CN¥1.05 in FY 2020). Revenue: CN¥4.74b (up 8.0% from FY 2020). Net income: CN¥306.9m (down 21% from FY 2020). Profit margin: 6.5% (down from 8.8% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) missed analyst estimates by 14%. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥13.15, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 21x in the Chemicals industry in China. Total returns to shareholders of 77% over the past three years. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.06 (vs CN¥0.19 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥1.16b (up 24% from 3Q 2020). Net income: CN¥22.7m (down 67% from 3Q 2020). Profit margin: 2.0% (down from 7.3% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 22
Second quarter 2021 earnings released: EPS CN¥0.23 (vs CN¥0.46 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥1.26b (down 5.1% from 2Q 2020). Net income: CN¥86.4m (down 47% from 2Q 2020). Profit margin: 6.8% (down from 12% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • May 29
Limin Group Co., Ltd. Approves 2020 Profit Distribution Plan for A Shares, Payable on June 2, 2021 Limin Group Co., Ltd. approved 2020 profit distribution plan for A share of Cash dividend/10 shares (tax included) CNY 2.50000000. Record date is June 1, 2021, Ex-date is June 2, 2021 and Payment date is June 2, 2021. Announcement • May 20
Limin Group Co., Ltd. Approves Cash Dividend for the Year 2020 Limin Group Co., Ltd. announced that at its AGM held on 17 May 2021, the shareholders approved the cash dividend/10 shares (tax included) for the year 2020: CNY 2.50000000. Reported Earnings • May 02
First quarter 2021 earnings released: EPS CN¥0.43 (vs CN¥0.39 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: CN¥1.28b (down 3.5% from 1Q 2020). Net income: CN¥160.9m (up 13% from 1Q 2020). Profit margin: 13% (up from 11% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Mar 09
Limin Group Co., Ltd. to Report Fiscal Year 2020 Results on Apr 20, 2021 Limin Group Co., Ltd. announced that they will report fiscal year 2020 results on Apr 20, 2021 Is New 90 Day High Low • Feb 10
New 90-day high: CN¥14.69 The company is up 12% from its price of CN¥13.10 on 12 November 2020. The Chinese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥3.86 per share. Is New 90 Day High Low • Dec 29
New 90-day low: CN¥12.40 The company is down 14% from its price of CN¥14.35 on 30 September 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥3.84 per share. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥409.3m, up 20% from the prior year. Total revenue was CN¥4.41b over the last 12 months, up 80% from the prior year. Is New 90 Day High Low • Oct 30
New 90-day low: CN¥12.99 The company is down 23% from its price of CN¥16.83 on 31 July 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥3.33 per share. Is New 90 Day High Low • Oct 04
New 90-day low: CN¥14.35 The company is down 7.0% from its price of CN¥15.42 on 06 July 2020. The Chinese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥3.27 per share. Announcement • Aug 14
Limin Group Co., Ltd. to Report First Half, 2020 Results on Aug 31, 2020 Limin Group Co., Ltd. announced that they will report first half, 2020 results on Aug 31, 2020 Announcement • Aug 06
Limin Group Co., Ltd. (SZSE:002734) agreed to acquire additional 5% stake in Hebei Weiyuan Biochemical Co., Ltd., Hebei Weiyuan Animal Pharmaceutical Co., Ltd. and Inner Mongolia Xinweiyuan Biochemical Co., Ltd. for CNY 64 million. Limin Group Co., Ltd. (SZSE:002734) agreed to acquire additional 5% stake in Hebei Weiyuan Biochemical Co., Ltd., Hebei Weiyuan Animal Pharmaceutical Co., Ltd. and Inner Mongolia Xinweiyuan Biochemical Co., Ltd. for CNY 64 million on July 30, 2020. As of August 3, 2020, paties signed the agreement for the transaction. Limin Group decided to use its own or self-raised funds of CNY 64 million. 
