Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥22.18, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 20x in the Chemicals industry in China. Total returns to shareholders of 71% over the past three years. Valuation Update With 7 Day Price Move • May 25
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥23.92, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 21x in the Chemicals industry in China. Total returns to shareholders of 84% over the past three years. New Risk • May 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 9.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.8% average weekly change). Minor Risk Paying a dividend despite having no free cash flows. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥19.98, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 24x in the Chemicals industry in China. Total returns to shareholders of 27% over the past three years. Major Estimate Revision • Apr 09
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CN¥3.64b to CN¥3.56b. EPS estimate also fell from CN¥1.29 per share to CN¥1.13 per share. Net income forecast to grow 41% next year vs 50% growth forecast for Chemicals industry in China. Consensus price target down from CN¥16.38 to CN¥15.77. Share price was steady at CN¥17.54 over the past week. Reported Earnings • Apr 03
Full year 2025 earnings released: EPS: CN¥0.81 (vs CN¥0.68 in FY 2024) Full year 2025 results: EPS: CN¥0.81 (up from CN¥0.68 in FY 2024). Revenue: CN¥3.14b (up 18% from FY 2024). Net income: CN¥326.4m (up 19% from FY 2024). Profit margin: 10% (in line with FY 2024). Revenue is forecast to grow 14% 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 35% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Apr 03
Jiangsu Changhai Composite Materials Co., Ltd, Annual General Meeting, Apr 28, 2026 Jiangsu Changhai Composite Materials Co., Ltd, Annual General Meeting, Apr 28, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Changzhou, Jiangsu China Announcement • Mar 31
Jiangsu Changhai Composite Materials Co., Ltd to Report Q1, 2026 Results on Apr 24, 2026 Jiangsu Changhai Composite Materials Co., Ltd announced that they will report Q1, 2026 results on Apr 24, 2026 Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥16.07, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 23x in the Chemicals industry in China. Total returns to shareholders of 6.6% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥7.39 per share. New Risk • Feb 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 7.6% 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 Dividend is not well covered by cash flows (135% cash payout ratio). Share price has been volatile over the past 3 months (7.6% average weekly change). Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥22.10, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 27x in the Chemicals industry in China. Total returns to shareholders of 40% over the past three years. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥20.33, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 27x in the Chemicals industry in China. Total returns to shareholders of 36% over the past three years. Announcement • Dec 31
Jiangsu Changhai Composite Materials Co., Ltd to Report Fiscal Year 2025 Results on Apr 03, 2026 Jiangsu Changhai Composite Materials Co., Ltd announced that they will report fiscal year 2025 results on Apr 03, 2026 Reported Earnings • Nov 03
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¥903.9m (up 33% from 3Q 2024). Net income: CN¥83.8m (up 4.2% from 3Q 2024). Profit margin: 9.3% (down from 12% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% 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 41% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
Jiangsu Changhai Composite Materials Co., Ltd to Report Q3, 2025 Results on Oct 30, 2025 Jiangsu Changhai Composite Materials Co., Ltd announced that they will report Q3, 2025 results on Oct 30, 2025 Announcement • Sep 16
Jiangsu Changhai Composite Materials Co., Ltd Approves Interim Dividend for 2025 Jiangsu Changhai Composite Materials Co. Ltd. held its 2nd Extraordinary General Meeting of 2025 on 12 September 2025, approved interim Cash dividend/10 shares (tax included): CNY1.00000000 for 2025. Reported Earnings • Aug 22
Second quarter 2025 earnings released: EPS: CN¥0.23 (vs CN¥0.18 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.23 (up from CN¥0.18 in 2Q 2024). Revenue: CN¥692.5m (up 7.8% from 2Q 2024). Net income: CN¥91.5m (up 28% from 2Q 2024). Profit margin: 13% (up from 11% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% 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 44% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Price Target Changed • Aug 21
Price target increased by 11% to CN¥15.59 Up from CN¥14.05, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of CN¥15.99. Stock is up 75% over the past year. The company is forecast to post earnings per share of CN¥0.99 for next year compared to CN¥0.68 last year. Announcement • Aug 21
Jiangsu Changhai Composite Materials Co., Ltd Proposes Interim Cash Dividend for 2025 Jiangsu Changhai Composite Materials Co. Ltd. at its EGM held on Sepetmebr 12, 2025 proposed interim Cash dividend per 10 shares (tax included) of CNY 1.00000000 for 2025. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥16.59, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 23x in the Chemicals industry in China. Total returns to shareholders of 2.3% over the past three years. Announcement • Jul 02
Jiangsu Changhai Composite Materials Co., Ltd to Report First Half, 2025 Results on Aug 20, 2025 Jiangsu Changhai Composite Materials Co., Ltd announced that they will report first half, 2025 results on Aug 20, 2025 New Risk • Jul 01
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 6.6% 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 (6.6% average weekly change). Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥14.64, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 22x in the Chemicals industry in China. Total loss to shareholders of 22% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥5.91 per share. Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 6 highly experienced directors. Independent Director Xin Guo was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Declared Dividend • May 24
Dividend increased to CN¥0.20 Dividend of CN¥0.20 is 33% higher than last year. Ex-date: 29th May 2025 Payment date: 29th May 2025 Dividend yield will be 1.7%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (26% 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 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 108% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 22
Jiangsu Changhai Composite Materials Co., Ltd Proposes Final Cash Dividend for the Year 2024 Jiangsu Changhai Composite Materials Co. Ltd. announced on 21 April 2025 the profit distribution proposal for the year 2024 as final cash dividend/10 shares (tax included) of CNY 2.00000000. Announcement • Apr 20
Jiangsu Changhai Composite Materials Co., Ltd, Annual General Meeting, May 15, 2025 Jiangsu Changhai Composite Materials Co., Ltd, Annual General Meeting, May 15, 2025, at 14:30 China Standard Time. Location: The Company's Meeting Room, Changzhou, Jiangsu China Reported Earnings • Apr 19
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: CN¥0.68 (down from CN¥0.72 in FY 2023). Revenue: CN¥2.66b (up 2.1% from FY 2023). Net income: CN¥274.8m (down 7.2% from FY 2023). Profit margin: 10% (down from 11% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is forecast to grow 18% 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 39% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥9.26, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 21x in the Chemicals industry in China. Total loss to shareholders of 36% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥4.34 per share. Announcement • Mar 31
Jiangsu Changhai Composite Materials Co., Ltd to Report Q1, 2025 Results on Apr 28, 2025 Jiangsu Changhai Composite Materials Co., Ltd announced that they will report Q1, 2025 results on Apr 28, 2025 Announcement • Dec 31
Jiangsu Changhai Composite Materials Co., Ltd to Report Fiscal Year 2024 Results on Apr 19, 2025 Jiangsu Changhai Composite Materials Co., Ltd announced that they will report fiscal year 2024 results on Apr 19, 2025 Price Target Changed • Oct 30
Price target increased by 14% to CN¥13.55 Up from CN¥11.92, the current price target is an average from 4 analysts. New target price is 11% above last closing price of CN¥12.16. Stock is down 3.2% over the past year. The company is forecast to post earnings per share of CN¥0.79 for next year compared to CN¥0.72 last year. Reported Earnings • Oct 26
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¥679.0m (flat on 3Q 2023). Net income: CN¥80.4m (up 3.8% from 3Q 2023). Profit margin: 12% (in line with 3Q 2023). Revenue is forecast to grow 22% 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 31% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥10.94, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Chemicals industry in China. Total loss to shareholders of 33% over the past three years. Announcement • Sep 30
Jiangsu Changhai Composite Materials Co., Ltd to Report Q3, 2024 Results on Oct 26, 2024 Jiangsu Changhai Composite Materials Co., Ltd announced that they will report Q3, 2024 results on Oct 26, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to CN¥11.89, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 16x in the Chemicals industry in China. Total loss to shareholders of 24% over the past three years. Major Estimate Revision • Aug 31
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥2.98b to CN¥2.73b. EPS estimate also fell from CN¥0.848 per share to CN¥0.745 per share. Net income forecast to grow 74% next year vs 49% growth forecast for Chemicals industry in China. Consensus price target down from CN¥14.09 to CN¥11.92. Share price rose 3.1% to CN¥9.55 over the past week. Major Estimate Revision • Aug 29
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥2.98b to CN¥2.79b. EPS estimate also fell from CN¥0.877 per share to CN¥0.761 per share. Net income forecast to grow 77% next year vs 45% growth forecast for Chemicals industry in China. Consensus price target down from CN¥14.09 to CN¥11.92. Share price rose 3.2% to CN¥9.41 over the past week. Price Target Changed • Aug 24
Price target decreased by 14% to CN¥12.17 Down from CN¥14.09, the current price target is an average from 4 analysts. New target price is 31% above last closing price of CN¥9.26. Stock is down 30% over the past year. The company is forecast to post earnings per share of CN¥0.85 for next year compared to CN¥0.72 last year. Reported Earnings • Aug 23
Second quarter 2024 earnings released: EPS: CN¥0.18 (vs CN¥0.32 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.18 (down from CN¥0.32 in 2Q 2023). Revenue: CN¥642.7m (down 8.7% from 2Q 2023). Net income: CN¥71.3m (down 45% from 2Q 2023). Profit margin: 11% (down from 18% in 2Q 2023). Revenue is forecast to grow 21% 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 18% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Announcement • Jun 29
Jiangsu Changhai Composite Materials Co., Ltd to Report First Half, 2024 Results on Aug 23, 2024 Jiangsu Changhai Composite Materials Co., Ltd announced that they will report first half, 2024 results on Aug 23, 2024 Declared Dividend • May 25
Dividend reduced to CN¥0.15 Dividend of CN¥0.15 is 25% lower than last year. Ex-date: 29th May 2024 Payment date: 29th May 2024 Dividend yield will be 1.3%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (23% 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 9.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 109% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 25
Jiangsu Changhai Composite Materials Co., Ltd Announces Final Cash Dividend on A Shares for the Year 2023, Payable on 29 May 2024 Jiangsu Changhai Composite Materials Co. Ltd. announced final cash dividend of CNY 1.50 per 10 shares (tax included) on A shares for the year 2023. Record date is 28 May 2024, Ex-date is 29 May 2024 and Payment Date is 29 May 2024. Price Target Changed • May 10
Price target increased by 8.1% to CN¥14.09 Up from CN¥13.03, the current price target is an average from 4 analysts. New target price is 16% above last closing price of CN¥12.13. Stock is down 12% over the past year. The company is forecast to post earnings per share of CN¥0.88 for next year compared to CN¥0.72 last year. Price Target Changed • Apr 20
Price target decreased by 24% to CN¥12.43 Down from CN¥16.25, the current price target is an average from 3 analysts. New target price is 25% above last closing price of CN¥9.94. Stock is down 33% over the past year. The company is forecast to post earnings per share of CN¥0.79 for next year compared to CN¥0.72 last year. Announcement • Apr 19
Jiangsu Changhai Composite Materials Co., Ltd, Annual General Meeting, May 10, 2024 Jiangsu Changhai Composite Materials Co., Ltd, Annual General Meeting, May 10, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Changzhou, Jiangsu China Reported Earnings • Apr 18
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.72 (down from CN¥2.00 in FY 2022). Revenue: CN¥2.61b (down 14% from FY 2022). Net income: CN¥296.1m (down 64% from FY 2022). Profit margin: 11% (down from 27% in FY 2022). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 6.0%. Earnings per share (EPS) also missed analyst estimates by 28%. Revenue is forecast to grow 17% 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 12% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • Mar 30
Jiangsu Changhai Composite Materials Co., Ltd to Report Q1, 2024 Results on Apr 24, 2024 Jiangsu Changhai Composite Materials Co., Ltd announced that they will report Q1, 2024 results on Apr 24, 2024 Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥8.61, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 13x in the Chemicals industry in China. Total loss to shareholders of 53% over the past three years. Announcement • Dec 30
Jiangsu Changhai Composite Materials Co., Ltd to Report Fiscal Year 2023 Results on Apr 18, 2024 Jiangsu Changhai Composite Materials Co., Ltd announced that they will report fiscal year 2023 results on Apr 18, 2024 Major Estimate Revision • Nov 01
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥2.91b to CN¥2.84b. EPS estimate also fell from CN¥1.38 per share to CN¥1.21 per share. Net income forecast to grow 30% next year vs 59% growth forecast for Chemicals industry in China. Consensus price target down from CN¥19.62 to CN¥17.25. Share price fell 3.0% to CN¥12.56 over the past week. Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: CN¥0.18 (vs CN¥0.42 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.18 (down from CN¥0.42 in 3Q 2022). Revenue: CN¥680.7m (down 10% from 3Q 2022). Net income: CN¥77.4m (down 56% from 3Q 2022). Profit margin: 11% (down from 23% in 3Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 23% 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 increased by 26% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Jiangsu Changhai Composite Materials Co., Ltd to Report Q3, 2023 Results on Oct 26, 2023 Jiangsu Changhai Composite Materials Co., Ltd announced that they will report Q3, 2023 results on Oct 26, 2023 Major Estimate Revision • Aug 24
Consensus EPS estimates fall by 19% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥3.20b to CN¥2.91b. EPS estimate also fell from CN¥1.69 per share to CN¥1.38 per share. Net income forecast to grow 9.7% next year vs 52% growth forecast for Chemicals industry in China. Consensus price target down from CN¥19.92 to CN¥18.49. Share price was steady at CN¥13.37 over the past week. Price Target Changed • Aug 19
Price target decreased by 7.2% to CN¥18.49 Down from CN¥19.92, the current price target is an average from 3 analysts. New target price is 36% above last closing price of CN¥13.62. Stock is down 20% over the past year. The company is forecast to post earnings per share of CN¥1.44 for next year compared to CN¥2.00 last year. Announcement • Jul 01
Jiangsu Changhai Composite Materials Co., Ltd to Report First Half, 2023 Results on Aug 18, 2023 Jiangsu Changhai Composite Materials Co., Ltd announced that they will report first half, 2023 results on Aug 18, 2023 Announcement • May 19
Jiangsu Changhai Composite Materials Co., Ltd Announces 2022 Final Profit Distribution Plan to Be Implemented (A Shares), Payment Date of 24 May 2023 Jiangsu Changhai Composite Materials Co. Ltd. announced 2022 final profit distribution plan to be implemented (A shares): Cash dividend/10 shares (tax included): CNY 2.00000000. Record date: 23 May 2023, Ex-date: 24 May 2023 and Payment date: 24 May 2023. 10% withholding tax on cash dividend will be deducted in CNY within the cash dividend receivable. Please refer to below details: Tax on cash dividend/10 shares: CNY0.20000000(10% x CNY2.00000000) Net cash dividend/10 shares after tax: CNY1.80000000(CNY2.00000000- CNY0.20000000). Reported Earnings • Apr 12
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: CN¥2.00 (up from CN¥1.40 in FY 2021). Revenue: CN¥3.02b (up 20% from FY 2021). Net income: CN¥817.3m (up 43% from FY 2021). Profit margin: 27% (up from 23% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 3.3%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 18
Price target decreased by 7.9% to CN¥20.50 Down from CN¥22.27, the current price target is provided by 1 analyst. New target price is 31% above last closing price of CN¥15.69. Stock is up 3.1% over the past year. The company is forecast to post earnings per share of CN¥1.81 for next year compared to CN¥1.40 last year. Reported Earnings • Oct 25
Third quarter 2022 earnings released: EPS: CN¥0.42 (vs CN¥0.40 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.42 (up from CN¥0.40 in 3Q 2021). Revenue: CN¥759.3m (up 16% from 3Q 2021). Net income: CN¥174.2m (up 8.0% from 3Q 2021). Profit margin: 23% (down from 25% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 23% 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 increased by 41% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Price Target Changed • Oct 22
Price target increased to CN¥22.27 Up from CN¥19.70, the current price target is an average from 2 analysts. New target price is 60% above last closing price of CN¥13.89. Stock is down 21% over the past year. The company is forecast to post earnings per share of CN¥1.73 for next year compared to CN¥1.40 last year. Reported Earnings • Aug 18
Second quarter 2022 earnings released: EPS: CN¥0.49 (vs CN¥0.37 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.49 (up from CN¥0.37 in 2Q 2021). Revenue: CN¥783.0m (up 25% from 2Q 2021). Net income: CN¥200.1m (up 30% from 2Q 2021). Profit margin: 26% (up from 25% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 30%, compared to a 41% growth forecast for the Chemicals industry in China. 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 24% per year, which means it is significantly lagging earnings growth. Board Change • Jun 01
High number of new directors Independent Director Xin Guo was the last director to join the board, commencing their role in 2022. Valuation Update With 7 Day Price Move • May 03
Investor sentiment improved over the past week After last week's 28% share price gain to CN¥16.70, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Chemicals industry in China. Total returns to shareholders of 93% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥7.88 per share. Price Target Changed • Apr 27
Price target decreased to CN¥19.70 Down from CN¥24.66, the current price target is an average from 4 analysts. New target price is 26% above last closing price of CN¥15.66. Stock is down 12% over the past year. The company is forecast to post earnings per share of CN¥1.71 for next year compared to CN¥1.40 last year. Announcement • Apr 24
Jiangsu Changhai Composite Materials Co., Ltd, Annual General Meeting, May 11, 2022 Jiangsu Changhai Composite Materials Co., Ltd, Annual General Meeting, May 11, 2022, at 10:00 China Standard Time. Agenda: To consider the 2021 annual report and its summary; 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; to consider the 2021 profit distribution plan; to consider the reappointment of audit firm; to consider the 2022 application for comprehensive credit line to banks; to consider the shareholder return plan for the next three years from 2022 to 2024; to consider the amendments to the Company's articles of association; Amendments to the work rules for independent directors; to consider the amendments to the external guarantee decision-making system; to consider the election and nomination of non-independent directors; to consider the election and nomination of independent directors; to consider the election and nomination of non-employee supervisors; and to consider the other matters. Announcement • Apr 22
Jiangsu Changhai Composite Materials Co., Ltd Proposes Dividend for 2021 Jiangsu Changhai Composite Materials Co. Ltd. announced on 21 April 2022 the profit distribution proposal for 2021 as follows: Cash dividend/10 shares (tax included) of CNY 1.50000000. Reported Earnings • Apr 21
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥1.40 (up from CN¥0.66 in FY 2020). Revenue: CN¥2.51b (up 23% from FY 2020). Net income: CN¥572.4m (up 112% from FY 2020). Profit margin: 23% (up from 13% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 10%. Earnings per share (EPS) also missed analyst estimates by 7.5%. Over the next year, revenue is forecast to grow 43%, compared to a 47% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 22% 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 • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.40 (vs CN¥0.18 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥654.8m (up 15% from 3Q 2020). Net income: CN¥161.4m (up 123% from 3Q 2020). Profit margin: 25% (up from 13% in 3Q 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥17.94, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 22x in the Chemicals industry in China. Total returns to shareholders of 95% over the past three years. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥22.84, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 21x in the Chemicals industry in China. Total returns to shareholders of 148% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥36.92 per share. Price Target Changed • Aug 24
Price target increased to CN¥25.93 Up from CN¥21.50, the current price target is an average from 5 analysts. New target price is 24% above last closing price of CN¥20.88. Stock is up 36% over the past year. Reported Earnings • Aug 22
Second quarter 2021 earnings released: EPS CN¥0.37 (vs CN¥0.16 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥624.3m (up 22% from 2Q 2020). Net income: CN¥153.5m (up 127% from 2Q 2020). Profit margin: 25% (up from 13% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 27
First quarter 2021 earnings released: EPS CN¥0.26 (vs CN¥0.14 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥554.2m (up 40% from 1Q 2020). Net income: CN¥106.1m (up 89% from 1Q 2020). Profit margin: 19% (up from 14% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Apr 17
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate increased from CN¥1.01 to CN¥1.11. Revenue forecast steady at CN¥2.79b. Net income forecast to grow 68% next year vs 51% growth forecast for Chemicals industry in China. Consensus price target up from CN¥20.20 to CN¥21.50. Share price was steady at CN¥16.78 over the past week. Reported Earnings • Apr 11
Full year 2020 earnings released: EPS CN¥0.66 (vs CN¥0.71 in FY 2019) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: CN¥2.04b (down 7.6% from FY 2019). Net income: CN¥270.7m (down 6.5% from FY 2019). Profit margin: 13% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 14% per year. Announcement • Feb 24
Jiangsu Changhai Composite Materials Co., Ltd to Report Fiscal Year 2020 Results on Apr 10, 2021 Jiangsu Changhai Composite Materials Co., Ltd announced that they will report fiscal year 2020 results on Apr 10, 2021 Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥19.88, the stock is trading at a trailing P/E ratio of 32.1x, up from the previous P/E ratio of 26.9x. This compares to an average P/E of 35x in the Chemicals industry in China. Total returns to shareholders over the past three years are 101%. Is New 90 Day High Low • Jan 28
New 90-day high: CN¥18.81 The company is up 55% from its price of CN¥12.11 on 30 October 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 23% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥9.23 per share. Is New 90 Day High Low • Jan 08
New 90-day high: CN¥18.67 The company is up 25% from its price of CN¥14.99 on 09 October 2020. The Chinese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥9.19 per share. Is New 90 Day High Low • Dec 17
New 90-day high: CN¥16.18 The company is up 7.0% from its price of CN¥15.12 on 18 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥9.24 per share. Reported Earnings • Oct 28
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥251.0m, down 17% from the prior year. Total revenue was CN¥2.02b over the last 12 months, down 11% from the prior year. Is New 90 Day High Low • Oct 26
New 90-day low: CN¥13.14 The company is down 1.0% from its price of CN¥13.28 on 28 July 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥10.47 per share. Announcement • Oct 20
Jiangsu Changhai Composite Materials Co., Ltd to Report Q3, 2020 Results on Oct 28, 2020 Jiangsu Changhai Composite Materials Co., Ltd announced that they will report Q3, 2020 results on Oct 28, 2020 Announcement • Jul 25
Jiangsu Changhai Composite Materials Co., Ltd to Report First Half, 2020 Results on Aug 21, 2020 Jiangsu Changhai Composite Materials Co., Ltd announced that they will report first half, 2020 results on Aug 21, 2020