Announcement • Jul 01
Xizang Gaozheng Civil Explosives Co., Ltd. to Report First Half, 2026 Results on Aug 14, 2026 Xizang Gaozheng Civil Explosives Co., Ltd. announced that they will report first half, 2026 results on Aug 14, 2026 Declared Dividend • Jun 08
Dividend of CN¥0.14 announced Shareholders will receive a dividend of CN¥0.14. Ex-date: 9th June 2026 Payment date: 9th June 2026 Dividend yield will be 0.7%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (30% earnings payout ratio) but not covered by cash flows (368% cash payout ratio). The dividend has increased over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 31% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jun 05
Xizang Gaozheng Civil Explosives Co., Ltd. Approves Dividend for 2025, Payable on 09 June 2026 Xizang Gaozheng Civil Explosives Co., Ltd. approved 2025 final profit distribution plan to be implemented (A shares): Cash dividend/10 shares (tax included): CNY 1.40000000. Record date: 08 June 2026; Ex-date: 09 June 2026; Payment date: 09 June 2026. Announcement • May 12
Xizang Gaozheng Civil Explosives Co., Ltd. (SZSE:002827) announces an Equity Buyback for CNY 200 million worth of its shares. Xizang Gaozheng Civil Explosives Co., Ltd. (SZSE:002827) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its A shares. The shares will be repurchased at a price of not more than CNY 48.34 per share. The shares purchased will be used for the company's employee stock ownership plans or equity incentives. The program will be funded via Own Funds and Self-Financing. The program will be valid for 12 months. New Risk • Apr 29
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 6.6% 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 (6.6% operating cash flow to total debt). Minor Risk Dividend is not well covered by cash flows (368% cash payout ratio). Reported Earnings • Apr 29
First quarter 2026 earnings released: EPS: CN¥0.034 (vs CN¥0.064 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.034 (down from CN¥0.064 in 1Q 2025). Revenue: CN¥304.8m (flat on 1Q 2025). Net income: CN¥9.47m (down 46% from 1Q 2025). Profit margin: 3.1% (down from 5.8% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 37% per year whereas the company’s share price has increased by 40% per year. Announcement • Apr 08
Xizang Gaozheng Civil Explosives Co., Ltd., Annual General Meeting, Apr 28, 2026 Xizang Gaozheng Civil Explosives Co., Ltd., Annual General Meeting, Apr 28, 2026, at 14:20 China Standard Time. Location: The Company's Meeting Room, Lhasa, Xizang China Announcement • Mar 31
Xizang Gaozheng Civil Explosives Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Xizang Gaozheng Civil Explosives Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 Reported Earnings • Feb 10
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.71 (up from CN¥0.54 in FY 2024). Revenue: CN¥1.82b (up 7.8% from FY 2024). Net income: CN¥196.7m (up 33% from FY 2024). Profit margin: 11% (up from 8.8% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 28%. Revenue is forecast to grow 27% 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 40% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 31
Xizang Gaozheng Civil Explosives Co., Ltd. to Report Fiscal Year 2025 Results on Apr 07, 2026 Xizang Gaozheng Civil Explosives Co., Ltd. announced that they will report fiscal year 2025 results on Apr 07, 2026 Reported Earnings • Oct 23
Third quarter 2025 earnings released: EPS: CN¥0.21 (vs CN¥0.20 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.21 (up from CN¥0.20 in 3Q 2024). Revenue: CN¥489.0m (up 9.1% from 3Q 2024). Net income: CN¥56.8m (up 1.8% from 3Q 2024). Profit margin: 12% (in line with 3Q 2024). Revenue is forecast to grow 24% 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 increased by 40% per year but the company’s share price has increased by 61% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 30
Tibet GaoZheng Explosive Co., Ltd. to Report Q3, 2025 Results on Oct 23, 2025 Tibet GaoZheng Explosive Co., Ltd. announced that they will report Q3, 2025 results on Oct 23, 2025 Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: CN¥0.19 (vs CN¥0.17 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.19 (up from CN¥0.17 in 2Q 2024). Revenue: CN¥467.4m (flat on 2Q 2024). Net income: CN¥51.6m (up 12% from 2Q 2024). Profit margin: 11% (up from 9.9% in 2Q 2024). Revenue is forecast to grow 23% 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 increased by 39% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jul 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 6.7% 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. This is currently the only risk that has been identified for the company. Announcement • Jul 02
Tibet GaoZheng Explosive Co., Ltd. to Report First Half, 2025 Results on Aug 12, 2025 Tibet GaoZheng Explosive Co., Ltd. announced that they will report first half, 2025 results on Aug 12, 2025 Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥36.83, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 21x in the Chemicals industry in China. Total returns to shareholders of 314% over the past three years. Declared Dividend • Jun 09
Dividend of CN¥0.08 announced Shareholders will receive a dividend of CN¥0.08. Ex-date: 16th June 2025 Payment date: 16th June 2025 Dividend yield will be 0.5%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (26% earnings payout ratio) and cash flows (80% cash payout ratio). The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 185% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Jun 06
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to CN¥31.03. The fair value is estimated to be CN¥25.32, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 39%. Revenue is forecast to grow by 59% in 2 years. Earnings are forecast to grow by 177% in the next 2 years. Buy Or Sell Opportunity • May 08
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 19% to CN¥30.15. The fair value is estimated to be CN¥25.07, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 39%. Revenue is forecast to grow by 59% in 2 years. Earnings are forecast to grow by 177% in the next 2 years. Reported Earnings • Apr 11
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: CN¥0.54 (up from CN¥0.35 in FY 2023). Revenue: CN¥1.69b (up 9.0% from FY 2023). Net income: CN¥148.2m (up 52% from FY 2023). Profit margin: 8.8% (up from 6.3% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 20%. Revenue is forecast to grow 20% 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 increased by 36% per year whereas the company’s share price has increased by 35% per year. Announcement • Apr 11
Tibet GaoZheng Explosive Co., Ltd. Proposes Final Cash Dividend for 2024 Tibet GaoZheng Explosive Co., Ltd. announced on 10 April 2025 the profit distribution proposal for 2024 as follows: final Cash dividend per 10 shares (tax included) of CNY 0.80000000. Announcement • Apr 10
Tibet GaoZheng Explosive Co., Ltd., Annual General Meeting, May 06, 2025 Tibet GaoZheng Explosive Co., Ltd., Annual General Meeting, May 06, 2025, at 14:30 China Standard Time. Location: The Company's Meeting Room, Lhasa, Xizang China Announcement • Mar 31
Tibet GaoZheng Explosive Co., Ltd. to Report Q1, 2025 Results on Apr 24, 2025 Tibet GaoZheng Explosive Co., Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025 Announcement • Jan 22
Tibet Gaozheng Explosive Co., Ltd. Approves Dividend Tibet GaoZheng Explosive Co., Ltd. held its 1st Extraordinary General Meeting of 2025 on 20 January 2025, approved Cash dividend/10 shares (tax included): CNY 0.70000000. Announcement • Jan 07
Tibet GaoZheng Explosive Co., Ltd. Proposes Profit Distribution Plan for the Third Quarter of 2024 Tibet GaoZheng Explosive Co., Ltd. announced on January 6, 2025 the profit distribution proposal for the third quarter of 2024 as: Cash dividend per 10 shares (tax included) of CNY 0.70000000. Announcement • Dec 31
Tibet GaoZheng Explosive Co., Ltd. to Report Fiscal Year 2024 Results on Apr 10, 2025 Tibet GaoZheng Explosive Co., Ltd. announced that they will report fiscal year 2024 results on Apr 10, 2025 Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥35.40, the stock trades at a forward P/E ratio of 54x. Average forward P/E is 19x in the Chemicals industry in China. Total returns to shareholders of 258% over the past three years. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥33.66, the stock trades at a forward P/E ratio of 52x. Average forward P/E is 19x in the Chemicals industry in China. Total returns to shareholders of 243% over the past three years. Reported Earnings • Oct 22
Third quarter 2024 earnings released: EPS: CN¥0.20 (vs CN¥0.18 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.20 (up from CN¥0.18 in 3Q 2023). Revenue: CN¥448.1m (down 4.3% from 3Q 2023). Net income: CN¥55.8m (up 12% from 3Q 2023). Profit margin: 13% (up from 11% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 37% 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 increased by 34% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 16
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to CN¥33.00, the stock trades at a forward P/E ratio of 57x. Average forward P/E is 17x in the Chemicals industry in China. Total returns to shareholders of 245% over the past three years. Announcement • Sep 30
Tibet GaoZheng Explosive Co., Ltd. to Report Q3, 2024 Results on Oct 22, 2024 Tibet GaoZheng Explosive Co., Ltd. announced that they will report Q3, 2024 results on Oct 22, 2024 Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥27.45, the stock trades at a trailing P/E ratio of 63.2x. Average trailing P/E is 27x in the Chemicals industry in China. Total returns to shareholders of 178% over the past three years. New Risk • Aug 09
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 Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Share price has been volatile over the past 3 months (8.5% average weekly change). Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: CN¥0.17 (vs CN¥0.10 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.17 (up from CN¥0.10 in 2Q 2023). Revenue: CN¥464.8m (up 9.0% from 2Q 2023). Net income: CN¥46.0m (up 62% from 2Q 2023). Profit margin: 9.9% (up from 6.6% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 30% per year. Announcement • Jun 29
Tibet GaoZheng Explosive Co., Ltd. to Report First Half, 2024 Results on Aug 09, 2024 Tibet GaoZheng Explosive Co., Ltd. announced that they will report first half, 2024 results on Aug 09, 2024 Valuation Update With 7 Day Price Move • May 21
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥25.16, the stock trades at a trailing P/E ratio of 68x. Average trailing P/E is 34x in the Chemicals industry in China. Total returns to shareholders of 148% over the past three years. New Risk • May 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 10% 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 Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (10% average weekly change). Valuation Update With 7 Day Price Move • May 06
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥17.59, the stock trades at a trailing P/E ratio of 47.5x. Average trailing P/E is 33x in the Chemicals industry in China. Total returns to shareholders of 55% over the past three years. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.033 (vs CN¥0.017 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.033 (up from CN¥0.017 in 1Q 2023). Revenue: CN¥259.2m (down 1.0% from 1Q 2023). Net income: CN¥9.07m (up 95% from 1Q 2023). Profit margin: 3.5% (up from 1.8% in 1Q 2023). 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 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 20
Full year 2023 earnings released: EPS: CN¥0.35 (vs CN¥0.19 in FY 2022) Full year 2023 results: EPS: CN¥0.35 (up from CN¥0.19 in FY 2022). Revenue: CN¥1.55b (up 37% from FY 2022). Net income: CN¥97.8m (up 83% from FY 2022). Profit margin: 6.3% (up from 4.7% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Apr 20
Tibet GaoZheng Explosive Co., Ltd., Annual General Meeting, May 13, 2024 Tibet GaoZheng Explosive Co., Ltd., Annual General Meeting, May 13, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Lhasa, Xizang China Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥12.84, the stock trades at a trailing P/E ratio of 36.8x. Average trailing P/E is 28x in the Chemicals industry in China. Total returns to shareholders of 7.7% over the past three years. Announcement • Mar 30
Tibet GaoZheng Explosive Co., Ltd. to Report Q1, 2024 Results on Apr 26, 2024 Tibet GaoZheng Explosive Co., Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥13.85, the stock trades at a trailing P/E ratio of 39.7x. Average trailing P/E is 27x in the Chemicals industry in China. Total returns to shareholders of 32% over the past three years. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥12.33, the stock trades at a trailing P/E ratio of 35.3x. Average trailing P/E is 28x in the Chemicals industry in China. Total returns to shareholders of 32% over the past three years. Announcement • Dec 29
Tibet GaoZheng Explosive Co., Ltd. to Report Fiscal Year 2023 Results on Apr 19, 2024 Tibet GaoZheng Explosive Co., Ltd. announced that they will report fiscal year 2023 results on Apr 19, 2024 Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥16.00, the stock trades at a trailing P/E ratio of 45.8x. Average trailing P/E is 32x in the Chemicals industry in China. Total returns to shareholders of 38% over the past three years. Reported Earnings • Oct 20
Third quarter 2023 earnings released: EPS: CN¥0.18 (vs CN¥0.05 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.18 (up from CN¥0.05 in 3Q 2022). Revenue: CN¥468.2m (up 39% from 3Q 2022). Net income: CN¥50.1m (up 277% from 3Q 2022). Profit margin: 11% (up from 3.9% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. New Risk • Oct 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 6.1% 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 Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.1% average weekly change). Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: CN¥0.10 (vs CN¥0.098 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.10 (up from CN¥0.098 in 2Q 2022). Revenue: CN¥426.4m (up 35% from 2Q 2022). Net income: CN¥28.3m (up 12% from 2Q 2022). Profit margin: 6.6% (down from 8.0% 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 24% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Announcement • Jul 01
Tibet GaoZheng Explosive Co., Ltd. to Report First Half, 2023 Results on Aug 15, 2023 Tibet GaoZheng Explosive Co., Ltd. announced that they will report first half, 2023 results on Aug 15, 2023 Announcement • Jun 30
Tibet Gaozheng Explosive Co., Ltd. Announces Final Profit Distribution (A Shares) for 2022, Payable on 05 July 2023 Tibet GaoZheng Explosive Co., Ltd. announced 2022 final profit distribution plan to be implemented (A shares) Cash dividend/10 shares (tax included): CNY 1.50000000. Record date: 04 July 2023, Ex-date: 05 July 2023, Payment date: 05 July 2023. Reported Earnings • Apr 21
Full year 2022 earnings released: EPS: CN¥0.19 (vs CN¥0.19 in FY 2021) Full year 2022 results: EPS: CN¥0.19 (in line with FY 2021). Revenue: CN¥1.13b (up 22% from FY 2021). Net income: CN¥53.4m (up 1.5% from FY 2021). Profit margin: 4.7% (down from 5.6% in FY 2021). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥12.68, the stock trades at a trailing P/E ratio of 55.8x. Average trailing P/E is 28x in the Chemicals industry in China. Total returns to shareholders of 53% over the past three years. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥10.80, the stock trades at a trailing P/E ratio of 47.5x. Average trailing P/E is 28x in the Chemicals industry in China. Total returns to shareholders of 10% over the past three years. Board Change • Nov 16
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. Non-Independent Director Luobu Duoji is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: CN¥0.05 (vs CN¥0.06 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.05 (down from CN¥0.06 in 3Q 2021). Revenue: CN¥336.8m (up 32% from 3Q 2021). Net income: CN¥13.3m (down 19% from 3Q 2021). Profit margin: 3.9% (down from 6.5% 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 38% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 24
Second quarter 2022 earnings released: EPS: CN¥0.098 (vs CN¥0.053 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.098 (up from CN¥0.053 in 2Q 2021). Revenue: CN¥317.1m (up 33% from 2Q 2021). Net income: CN¥25.3m (up 77% from 2Q 2021). Profit margin: 8.0% (up from 6.0% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Aug 19
Tibet GaoZheng Explosive Co., Ltd. Announces Final Cash Dividend for 2021, Payable on 24 August 2022 Tibet GaoZheng Explosive Co., Ltd. announced final cash dividend of CNY 1.50000000 per ten A shares (tax included) for 2021, payable on 24 August 2022. Record date is 23 August 2022 and ex-date is 24 August 2022. Board Change • Apr 27
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. Non-Independent Director Luobu Duoji is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Apr 16
Tibet GaoZheng Explosive Co., Ltd., Annual General Meeting, Jun 30, 2022 Tibet GaoZheng Explosive Co., Ltd., Annual General Meeting, Jun 30, 2022, at 14:30 China Standard Time. Agenda: To consider the 2021 work report of the board of directors; to consider the 2021 work report of the supervisory committee; to consider the 2021 annual accounts and 2022 financial budget report; to consider the 2021 profit distribution plan; to consider the 2021 annual report and its summary; to consider the application for bank comprehensive credit financing quota; to consider the reappointment of 2022 audit firm; and to consider the remuneration for independent directors. Announcement • Apr 15
Tibet GaoZheng Explosive Co., Ltd. Proposes Cash Dividend for 2021 Tibet GaoZheng Explosive Co., Ltd. announced on 14 April 2022 the profit distribution proposal for 2021 as cash dividend/10 shares (tax included): CNY 1.50000000. Reported Earnings • Apr 14
Full year 2021 earnings released: EPS: CN¥0.19 (vs CN¥0.13 in FY 2020) Full year 2021 results: EPS: CN¥0.19 (up from CN¥0.13 in FY 2020). Revenue: CN¥932.7m (up 23% from FY 2020). Net income: CN¥52.6m (up 43% from FY 2020). Profit margin: 5.6% (up from 4.9% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.06 (vs CN¥0.09 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¥255.2m (up 10.0% from 3Q 2020). Net income: CN¥16.5m (down 34% from 3Q 2020). Profit margin: 6.5% (down from 11% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 20
Second quarter 2021 earnings released: EPS CN¥0.053 (vs CN¥0.05 in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥237.7m (up 34% from 2Q 2020). Net income: CN¥14.3m (down 15% from 2Q 2020). Profit margin: 6.0% (down from 9.5% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥11.95, the stock trades at a trailing P/E ratio of 66.1x. Average trailing P/E is 30x in the Chemicals industry in China. Total returns to shareholders of 35% over the past three years. Announcement • May 16
Tibet Gaozheng Explosive Co., Ltd. Approves Cash Dividend for the Year 2020 Tibet GaoZheng Explosive Co., Ltd. at its AGM held on May 13, 2021 approved cash dividend of CNY 1.50000000 per 10 share(tax included) for the year 2020. Reported Earnings • Apr 16
Full year 2020 earnings released: EPS CN¥0.13 (vs CN¥0.087 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: CN¥741.4m (up 104% from FY 2019). Net income: CN¥36.7m (up 53% from FY 2019). Profit margin: 5.0% (down from 6.6% 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 58% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Mar 09
Tibet GaoZheng Explosive Co., Ltd. to Report Fiscal Year 2020 Results on Apr 20, 2021 Tibet GaoZheng Explosive Co., Ltd. announced that they will report fiscal year 2020 results on Apr 20, 2021 Is New 90 Day High Low • Jan 28
New 90-day low: CN¥10.21 The company is down 14% from its price of CN¥11.94 on 30 October 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 23% over the same period. Is New 90 Day High Low • Dec 16
New 90-day low: CN¥11.18 The company is down 11% from its price of CN¥12.54 on 17 September 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 6.0% over the same period. Reported Earnings • Oct 28
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥27.2m, down 4.5% from the prior year. Total revenue was CN¥586.7m over the last 12 months, up 65% from the prior year. Is New 90 Day High Low • Oct 22
New 90-day low: CN¥12.00 The company is down 9.0% from its price of CN¥13.16 on 24 July 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 4.0% over the same period. Announcement • Oct 20
Tibet GaoZheng Explosive Co., Ltd. to Report Q3, 2020 Results on Oct 28, 2020 Tibet GaoZheng Explosive Co., Ltd. announced that they will report Q3, 2020 results on Oct 28, 2020 
